THE LONDOIY ORATORY CHARITY
CbArity Number: 240702
TRUSTEESI ANNUAL REPORT
AND
CONSOLIDATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Haysmacintyre LLP
Ch8rtered AccounLqnts
10 Queen Street Place
London
EC4R IAG

THE LONDON ORATORY CHARITY
CONTENTS
Page
Truste¢s' Annual Report
Independent Auditt)rs' Report
10
Consolidated Statement of Financial Activities
11
Consolidated Balanex Sheet
12
Charity Balance Sheet
13
Consolidated Statement of Cash Flows
14 - 27 Notes to the Accounts

THE LONDON ORATORY CHARITY
TRUSTEESI ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER202Q
REFERENCE AND ADMINISTRATIVE DETAILS
REGISTERED CHARITY NUMBER:
240702
TRUSTEES:
The Reverend Julian Large (Pmvost Chainnan of Trustees)
Revd G Bowen
Revd Rupert McHardy
Rev'd Micha£l Lang
Rev'd Edward van den Bergh
OFFICE:
The Oratory
Brornpton Road
London SW7 2RP
GOVERNING INSTRUMENT:
Charity Commission Scheme dated l4 August 1969
AUDITORS:
Haysmacintyre LLP
10 Queen Street Place
London
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SOLICITORS:
Withers
20 Old Bailey
London EC4M 7EG
BANKERS:
National Westminster Bank Ple
18 Cromwell Place London SW7 2LB (from 24 Julle 2021)
INVESTMENT MANAGERS:
Handelsbanken Wealth and Asset Managen]ent Ltd
No. l Kingsway
London WC2B 6AN
INVESTMENT POWERS:
The provisions of the Trustees Act 2000 applied during the year.

THE LONDON ORATORY CHARITY
TRUSTEES, ANNUAL REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2020
OBJECTI,VES AND A￿1VITIEs
THECHARITY'S OWECTS
The Scheme 8peciFies "the object of the Charity shall be to advance the religious and other charitable work for the time
being carried on by or under the direction of the Congr¢8ation of the Oratory of St Philip Neri in London in Such ways as
the Trustees of th¢ Charity with the approval of the Congregation think fit"
This object is fulfilled in the following ways:
The provision of religious and pastoral services
The provision of Catholic Education
The maintenance and upkeep of the Oratt)ry Church and its associated premises in Brompton Road SW7, known as
Brompton Oratory.
ACTIVITIES IN THE YEAR
. The proclamation of the Catholic Faith is the main activity of the Oratory. This takes place in the Oratory church. with
daily M&sses and many other regular services. The Oratory Fathers who currently comprise the Congregation of the
Oratory ot St Philip Neri in London, provide a wide range of suppoit and pastoral for their parishioners and those who
worship in the Oratory chui'ch, and do so in the spirit of their founder St Phil ip Neri.
Sl, Philip founded the Oratory in 16th century Rome- this has spread world-wide, secular priests l iving together a community
life without vows, cach Congregation independent from one another, with members intending to stay in th¢ same
cotnmunity for their whole lives. This apostolate was brought to England by B lessed Cardinal Newinan in the 1840, s, with
Father Faber founding the London Oratory at first in cramped premises near th¢ Strand. moving to'south Kensington in
1854. Since that time, the Oratory Fathers have continued pastoral work in London, often in conjunction with otherparishes
and organisations in the Roman Catholic Archdiorxse of Westminster, of which the Oratory parish forms a part. The parish
covers a large area of South Kensington, bounded by Gloucester Road. Hyde Park, Walton Stt'eet, Cale Street and Old
Brompton Road.
A large Sunday Mass attendance and provision of the Sacraments and Christian forniation to the parish and to regular
worshippers, tO8¢th¢r with Catholic Chaplaincy duties at the Royal Brompton Hospitaj. provide the ongoing work of the
Oratory's mission. Additionally, the fathers are Trustees and chaplains of two schools, the Oratory Primary School in
Chelsea and the London Oratory School in Fulham. A website. www.bromptonoratory.co.uk, gives details of the Charily's
religious and pastoral activiti¢s.
MUSIC
A special feature of the Oratory has been its musical tradition, inspired by St Philip's own patronage ot Palestrina, and the
Fathers &im to maintain the highest standards in Church music. In this, they are followin8 the directions of the Second
Vatican Council: "Large choirs existing .
in major churches, which h&ve in the course of cenluries earned for themselve5
high renown by preserving and developing musical heritage of snestimable value, should be retained for sacred celebrations
of a more elaborate kind" (Instruction on Music in the Saered Liturgy, 1967). It is this heritage of Gi'egoi'ian chant and th¢
great works of Catholic Church music that is kept alive each Sunday and on major feast days.
A generous legacy was bequeathed by the late Jennifer Paterson for the maintenan¢2 ot. the Oratory Choir, establishing a
Restricted fund, the Chokr Fur￿, to help meet the ci)sts of the Oratory choir. which sings at Solemn Mass and Vespers.
In 2003 a major overhaul of the chui'ch organ, built by J W Walker in 1954, was put in hand, and Completed in 2007. This
instrument is one of the most import2nt built in London in the post-world War Il period. Possessing 45 stops on thre¢
manuals, it was designed by Ralph Downes, organist ofthe Oratory 1936-77. The British Instituteof Organ Studies Journal,
1996 describes it as the most successful of its kind in London.
In 2011, a scholarship was established to support the new position of Organ Scholar, through the generosity of & regular
worshipper, in memory of his late wit'e. June Pettman. The funds ol'- this scholarship have been signif5cantly augmented
with a large legacy J receivable in 2017. The Fathers are most grateful to Mr P¢ttman for this woiiderful gesture of support.

THE LONDON ORATORY CHARITY
TRUSTEES* AIYNUAL REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 202
PREMISES
The Oratory premises consist of the Oratory Church with the Lodge, the Oratory House and Halls, and the Newman Statue.
Th¢ Church, built between 1880-84 with the dome and f4ade added in the 1890's, is a Grad¢ Il* listed building in neo-
Baroque style. The Oratory House and Halls, built between l 853 and 191 I, compris¢ the domestiL areas of the Oratorian
community, administration offices, Little Oratory, and parish halls. These are Grade II* Listed buildings. The St&tue of
Cardinal Newman ( 1896) on Brompton Road has a Grade11 listing. All of these properties are owned freehold. The upkeep
of these extensive premises requires substantial management and both ongoing &nd major maintenance.
SCHOOLS
The Oratory Fathers have had a long5tandiDg commitment to Catholic Education, and are presently Trustees of two schools,
the Oratory Primary School in Cal¢ Str¢¢t. Chelse4 and the London Oratory Sch(x)l in Fulham. The London Oratory
School was granted Academy statu8 from l August 20 I I.
VOLUNTEER HELP
The Fathers of the Oratory (Congregation of the Oratory of St Philip Neri) rely substantially on volunteer help and fjnancial
support in many of their pastoral activitie5. and are tnuch encouraged by the eontinuing level of commitment from a large
number of people over many years.
NOVICES
A duty on the Congregation is to recruit, educate and tr&in suitable candidates for the Catholic Priesthood, to serve as
priests in the Oratory for the rest of their Liv&s. Unlike religious Orders and Catholic dioceses, candidates join the Oratory
to become rnembers of the Community in that location. clergy are not moved from house to house by a superior or bishop.
There were four candidates at 31 December 2020 (2019 - three). One of these candidates was ordained to the diaconate in
Decernber 2020, and ordained to the priesthood in September 2021.
PUBLIC BENEFIT
The prim￿ public benefit of the Oratory is the provision of an ethical and moral code for society: the Oratory
communicates. educates. encourages and coaches individuals into following and living the Catholic faith. The Oratory
sti'ongly supports the Spiritual, moral and &cademiG education of children, through catechetical progrummes and
sacramental preparation. as well a5 maintaining two schools. The Oratory also provides and maintains its chui'ch and other
listed buildings. Fuither details of these activities are given thff)ughout the Annual Report and Accounts.
That the Oratory doe5 produce a public benefit beyond that benefit that accrues to its members. is shown in the publi
character of its distinctive buildings. All members of the public are welCo￿e to enter the Otatory church free of charge for
purposes conn¢cted to prayer. worship, meditation and the advancement of religion.
Jn addition to donations to the charity, Oratory parishioners and visitors donated £3,011 to Aid to the Church in Need,
(20J9 £14.136), £1.985 to UK and international Catholic charities, (2019- £9,110), £4,432 to the Archdiocese of
Westminster (2019 - £5,445) and £645 to the London Oratory School Schol& (2019 - £4,393).
The Trustees confimi that, in determining the activitie5 of the charity, they have paid regard tA> guidance issued by the
Charity Commission on public benefit.
ACHIEVEMENTS AND PERFORMANCE
As in previous years, the Oratory provided religious services, pastoral care and education thi'oughout the year. in the
Oratory church and premises at Brompton Road, at the Oratory schools, in hospitals and elsewhere. The Fathers made
themselves avail&ble k) parishioners, visitors and those in need. Apart from the lockdown period from March to July, every
day of the year the Church remained open for pr&yer and visiting. The pastoral and spiritual work undertaken by th¢ Fathers
is not suscepiible to numerical measurement, and continues ye￿. by year within a long-established framework.

THE LOIYDON ORATORY CHAIUTY
TRUSTEES, ALYNUAL REPORT (eontinued)
FOR THE YEAR ENDED 31 DECEMBER2020
INVESTMENT POLICY AND PERFORMANCE
The tar8et set for the fund managers is to achiev.e a certain return of both income and capital growth with no more than a
moderate level of risk. The charity avoids direct investment in amiaments, pornography and "anti-life" pharniaceuticals.
During the year the value of the Charity, s investment portfolio rose. The continuing stock market volatility since the year
end ernphassses that a considerable degree of caution is needed when considering investment values.
Investment values do not ne￿sSarilY represent liquid resources to spend. the capital sums need tr) be held to generate
income to support the Charity's ongoing work and commitments.
The investment model target for 2020 continued as inflation plus 3.5 % . Investments fell dramatically in Spring 2020 as a
result of the COVID-19 pandemic, but recovered by 3 l December 2020 to show a total retum of 7.81/1•.
PLANS FOR FUTURE PERIODS
The Oratory Fathers plan to continue all their present activities
their pastoral work in the Oratory Church and Parish,
thLir schools,
the upkeep and development of their premises,
maintenance of sufficient I'eserves, and generdtion of furthtt growth of investment portlolios to ensure the long-
temi future of the charity.
With the support and collaboration of those who are drawn to Christ and His Church and who seek the Oratory, s hejp in
fulfilling their Christian vocation to know, love and serve God in this world and to be h&ppy with Him for ever in the next.
FINANCIAL REVIEW
Principal sources of inLx)me include donations made at religious servic&8 in the Oratory Church: Offeitory collections
£67,433 (2019: £319,190) other voluntary Contributions made dirertly for th¢ support of the Oratory church: £366,412
(2019: £304.722), and Contributions to support Music: £37,171 (20 I9: £77,629). Donations for the Primary School totalled
£nil (2019: £4,500). Donations for social and pastoral activities k)talled £l7.534 <2019: £39.145). St Raphael's annual
appeal raised £154,790 (2019: £99,819). G¢n¢r81 donations tot&lled £95.428 (2019: £23,984). The Coronavirus Job
Retention Scheme grants totalled £61,273. Investment income totalled £202,8 L3 {2019: £299,214). Legacies totalled
£220,165 (2019: £18,718).
Details of expenditure are given in notes 2 to 5 of the Annual Accounts.
Overall. before investments. the Orat(>ry has a net surplus of £76,618 (2019: deficit of £106,651)
RESERVES
Unrestricted funds at 31 December 2020 totalled £12,090,231 (2019: £11,288,283) of which £7,739 (2019: £21,024) has
been set aside for specific purposes leaving £12,082,492 {2019: £1 I,276,259) for the general purposes of the Charity. This
is equivalent tr) approximately 12 years. unrestricted expenditure. Howevei., the Uni'estricted Fund net current assets total
£325,725 (2019: £ I L 5,355) is equivalent to approximately four months, (2019: 5 weeks) unrestricted fund expenditure.
Restricted ￿ndS at 31 Decembei- 2020 totalled £4,691,647 (20 I9: £4,231,943).
Given the listed building status and hisloric natui'e of the whole Brompton Road p￿mises, the independent position of the
Oratory, (separate from the Archdiocese of Westminster and from other Orats)rie5), and the prevalent tinancial and
eeonomic uncertainty, these are regarded, along with investments, as appropriate I￿elS necessary for suppoi'ting the
Charity's ongoing commitments, and securing its long term operation.

THE LONDON ORATORY CHARITY
TRUSTEES. ANNUAL REPORT (tontinued)
FOR THE YEAR ENDED 31 DECEMBER 2020
RISK REVIEW
The trustees believe that by monitoring reserve Levels, by ensuring the existence of controls over key financial systems, by
taking regular professional advice, by h&ving in place appropriate insurances, and by examining the operational and
business risks faced by the Trust they have established routinely effective systems to mitigate those risks. Th¢ systems are
devised according to need. The scope of all these measures is reviewed regularly by the Trustee&
Safeguarding
The safeguarding of children and of adults at risk is of great importance to th¢ Oratory. Failing to prevent abuse of the
vulnerable has serious repercussions for th¢ individual, the mission of the Oratory and the Catholic Church. The
consequences of abuse of individuals be grave and lollg-lasting. The Charity, s aim 15 tr> prevent this trom happening
to children or adults at risk. whilst in the care of the Church. To mitigate this risk, the Charity follows the policies and
p￿cedUreS Put in place by the Catholic Church in England and Wales.
Community age profde
While the age profile of the members is increasing, a5 ¢XlSting members ￿0W older. The fathers seek to reduce the age
profile by nurturing the vocations of those who approach the Oratory; some continue their path of discernment here, others
try theii. vocation elsewher¢ in the Catholic Chureh, other still find that their vocation is to a different state in life. A
restricted fund (St Raphael's) has been established to provide for the support and training of new candidates tor the
priesthood.
Long-term fiDaDtial sustainabi]ity
Risks inelude reductions in key sources of revenue. and inere&sed costs of staffing and routine maintenance and compliance
upgrades of the pr¢mis¢s.
The Oratory's income comes frotn four main sources- collections and other donations made in church, investment income,
legacies. &nd In￿Me from varied external uses of the premises. This is supplemented by fund-raising for special projeots.
and other smaller income streams.
Property upkeep
The two main Oratory buildings are both l9th century Grade ]]* Listed Buildings. Their long-term fAtn&ss for use requires
regular large-scale projects to keep them watertight and the infrastructure up to dat¢. whilst maintaining the historic
character of the buildings, often involving specialist contractors and specialist skills.
COVID-19
The pandemic 2020 caused signifjcant disruptions to the charity, s activities. The premises were closed tr) the public in
the spring lockdown, and after opening attendanc¢ has continued to be limited by strict social distancing requirements.
The Fathers were able to continue with all their daily liturgies in private at first and with some live-streaming, and also
continued pastoral work as circumstances pennitted. Many of the parish groups wei'e cancelled, or held only online. The
annual Garden party could not take place. The Shop remained closed for much of the year. Opening hours remain
I'educed from the pre-pandemic schedule.
St Joseph, s Hall was re-purposed as a distribution hub foi. the Companions of the Order of Malta, to support people in
need, including those in emergency accommodation in this area of London.

THE LONDON ORATORY CHARITY
TRUSTEES? ANNUAL REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2020
STRUCTURE, GOVERNANCE AND IKANAGEMENT
CONSTITUTION
The London Oratory Charity is a Charitable Trust established by a scheme of the Charity Commissioners dated 14 August
1969, Charity Registration Number 240702. The Trustees were granted a Certificate of IncA)rporation by the Charity
Commissioners on 10 February 1970.
ORGANISATION
The Charity is governed by the Congregation of the Oratory of St Philip Neri in London. a Society of Apostolic Life withirf
the Roman Calholic Church; the priests elect from within their numb¢r 5. Trustees to serve for three years. At the triennial
election on 26 March 2018 Revd Julian Large was re-elected as Provost and Chairnian of Trustees, Revd8 George Bowen,
Rupert McHardy and Michael Lang were re-elected as Trustees, and Revd Edward van den Bergh was also electrd. All
five were re-elected on 25 ' March 2021. The Trustees and the Congregation meet frequently to plan and carry forward
their spiritual and pastoral r¢sponsibilities, and to attend to the financial, property, legal and adminlstrative affairs of the
Trust.
The trustees are drawn from amongst the existing Fathers, and have already been closely involved in carrying out the
ch￿'ity,S pastoral work and other activities. New trustees will have lived at th¢ Oratory for at least 6 years before their
ordination (at which point they ar¢ ¢ligibl¢ for election as a tiustee) and receive training during these years on the charity's
rinanG¢s and operating policies.
As well as carrying out th¢ majority of the Charity's pastoral and religious works, the trustees are closely involved in all
the activities of the Charity, and as such constitute its key management personnel. They receive no remuneration for their
duties.
SUBSIDIARY
The ch￿lty had established a trading subsidiary, Blemell House Limi*d. which was incorporated on 6 January 2012 and
took over the charity's trading activities including the Oratory's shop, car parking and magazine sales. The company has
traded profitably since bein8 established, and it is anticipated that it will continue to do so.
Statem ent by the Trustees on the capital value of School Buildings & Lands
The land on which the Oratory Primary School and London Oratory School are located, As in the own¢r5hip of the Trnst.
The main consequence of this that the users of the land, the Governoi's of the Schools, who have no title of their own in.the
land, thereby come under an obligation tr) use th¢ propety for the purposes set out in the Trust Deed, i.e., they must prornote
a Catholic School in the buildings which they occupy. The other benefits of ownership that would normally follow on from
legal title do not in faGt accrue to the Trustees, as the extent to whkch they can charge rent5, take mortgages on the property,
etc., are all greatly hemmed in by Education Law which gives the Secretary of State for Education power over whether a
sale takes place, and if it does take place, how the proceeds of sale should be used. These restrlctions lead the Trustees to
onGlude that so long as the Schools operate as going concerns, there is no capital value to the Oralory in the stock of
school lands and buildings. For these reasons they are not capitalised.
TRUSTEES, EXPENSES
The Trustees are all Roman Catholic priests and members of the Congregation of the Orats)ry. They &'e housed by the
Trust and ar¢ reimbursed for the expenses incurred in carrying out their ministry in the same way as all other priests of the
COn￿egatiOn. l-lowever, no Trustee received any remuneration or expenses from the Charily. in connection with their
duties as 'frustees during the year. No Trustee had any beneficial interest in any contract with the Charity.

THE LONDON ORATORY CHARrrY
TRUSTEES9 ANNUAL REPORT (eontlnued)
FOR THE YEAR ENDED 31 DECEMBER 2020
STATEMENT OF TRUSTEES, RESPONSTBILITIES
The Trustees are responsible for preparing the Trustee5' Report and tlie financial st&tements in accordance with applicable
law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each finanoial
ycar which give a truc and fair view of the state of affairs of t￿¢ charity and the group and of the incorning resources and
&ppliGation of resources of the group for that period. In preparing th¢s¢ finanGi8l statements, the Trustees are rquired to:
Select suitable accounting policies and then apply them consistently-
observ.e the methods and principles in the Chariti&8 SORP;
Make judgements and estimat£s that are reasonable and prudent;
State whether applic&ble accounting standards have been followed, subj ect to any material departures disclosed
and explained in the financial statements-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity
will continue in business.
The Trustees are responsible for keq)ing pwper aGwunting records that disclose with reasonab(¢ accuracy at any time the
financial position of the charity and the group and enable thcm to ensure that the financial statements comply with the
Charities Act 201 I, the applicable Charity {Accounts and Reports) Regulations and the provisions of the Scheme dated 14
August 1969. They are also responsible for safeguarding the assets of the charity and the group and hence for taking
reasonable st¢P5 for th¢ prevention and detection of fraud and other irregularities.
Approved by the Trustees on
'ZlI Looej
and signed as authorised on theii. behalf by:
rather Julian Large- Trust£e

INDEPENDENT AUDITORS9 REPORT TO THE TRUSTEES OF
THE LONDON ORATORY CHARITY
Opinion
We have audited the financial statements of The London Oratory Charity for the year ended 3 l December 2020 which
omprise the Consolidated Statement of Financial Activities, Consolidated and Charity Balance Sheets, Con501idated
Statement of Cash Flows and notes to the financial statements, including & summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable Jaw and United Kingdom Acc4)unting
Standards. including Financial Reporting Standard 102 The Financial Reporling Standard applicoble in the UK aFzd
Republic of Ireland (United Kingdom G¢n¢r&lly Accepted Accounting Practice).
In our opinion, the financial statements:
give a true and fair view of the state of the group's and of the parent charity's affairs as at 31 December 2020 and
of the group's net movement in funds for th¢ year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted AGcounting Practice; and
have been prep￿ed in accordance with the requiretnents of the Charities Act 20 I I.
Basis for opinio
We have been appointed as auditor under section 144 of the Charities Act 201 l and rq)ort in accordance with the Act and
relevant regulation5 made or having effect thereunder. We conducted our audit in accordanc¢ with International Standards
on Auditing (UK) (ISAS (UK)) and applicable law. Our ￿Sponsibl1]t1¢S under those standards are further described in the
Auditor's resFK)nsibilities for the audit of the financial statements section of our report. We are independent of th¢ 8roup in
accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the
FRC:s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We
believe that the audit evidence we have obtained is sufficient and appi'opriate to provide a basis for our opinion.
Conclusions relating to going eolleern
In auditing Ihe financial statements, we have concluded that th¢ trustees, use of the going concern basis of &ccounting in
the prq)aration of the financial statements is appropriate.
Based on the work we have perfonned. we h&v¢ not identified any material uncertainti&s relating to events or conditions
that, individu8lly or collectively. may cast significant doubt on the group's ability to continue as a going concern for a
period of at least twelve months from when the fmancial statements are authorised foi. issue.
Our r&sponsibilities and the responsibilities of the trustres with respect to going concern are described in the relevant
sections of this report.
Other iDfomAtion
The trustees are responsible for the other int(irniation. The other information comprises the information included in th¢
Trustee5' Report. Our opinion on the financial statements does not cover the other infomiation and, except to th¢ extent
othenvise explicitly stated in our report, Ive do not express any forni of assurance conclusion ther¢on.
In Connection Ivith our audit of the financial statements, our responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with the financial statements. or our knowledge obtained
in the audit or otherwise appe￿"S to be materially misstated. If we identify such mat¢rial inconsistencies or apparent material
misstatements, we are required to detemiine whether there is a material misstatement in the financial statements or a
material mi5Statement of the other information. If, based on the work we have performed. we conclude that there
is a material misstalement of this other information, we are required to report that fact. We have nothing to report in this
1'eg￿"d.
Matters on wbieh we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports)
Regulations 2008 require us lo report to you if, in our opinion:
adequate accounting records have not been kept by the parent charity; or
sufficient accounting records have not been kept" or
the parent Charity financial statements are not in agreement with the acwunting records and returns: or
we have not I'eceived all the infonnation and explanations we require for our audit
Responsibilltles of trustees for the finaneial statements
As explained more fully in the trustees, responsibilities statement set out on page 7. the trustees are responsible for the
preparation of the financial statements and for being satisfied that they give a true and lair view, and for such internal
control as the trustees determine is neceSs￿Y to enable the preparation of financial stat¢m¢nts that are free from material
misstatement, whether due to fraud or error.

INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF
THE LONDON ORATORY CHARITY (eontinued)
In preparing th¢ financial statements, the trustees are responsible for assessing the group, s and the parent charity, s ability
to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of aeeounting unless the trustees either inknd to liquidate the group or the parent charity or to cease operations, or
have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the finallelal statements
Our obj ectives are to obtain reasonable assurance about whether the financial slatements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor's rq)orl that includes our opinion. Reasonable assurance
is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect
a material misstatement when it exists. Misstat¢ments c&n arise from fraud or error and are considered material if,
individually or in the aggregate, they could ￿asOnablY be expected tt) influence the economic decisions of user5 tsken on
the basis of these financial statements.
Irregularities, including fraud, are instances of non-complianc¢ with laws and regulations. We design procedures in line
with our responsibilities. outlined above, to detect material misstatements in resp¢¢t ot. irregularities, including fraud. The
extent to which our procedures are capable of detectin8 irregulariti&8, including fraud is detailed below:
Based on our understanding of the charity and the environment in which it operates, we identified that the principaI risks
of non-compliance with laws and regulations related k) cornpliallce with Canon law, employment law, health and safety
regulations and charity law, and we considered the extent to which non-compliance might have a material eff¢ct on the
financial statements. We also Considered those laws and regulations that have a dii'ect impact on the preparation of th¢
financial statements such.as the Charities Act 201 I, FRS102 and payroll L￿e5.
We evaluated management, s incentives and opportunities for fraudulent manipulation of the financial statements (including
the risk of override of controls) and detennined that the principal I'isks were related to ￿cognItion of income and
anag¢ment bias in certain accounting estimates. Audit procedures pertormed by the engagement team included:
Inspecting correspondence with regulators and tax authorities
Discussions with management including consideration of known or suspected instances of non-compliance with
laws and regulation and fraud
Evaluating management's controls designed to prevent and detect in'egularities
Identifying and testing journals, in particular joumal entries posted with L2llusual descriptions and those entered at
the year-end; and
Challenging assumptions and judgements made by management in their critical accounting estimates.
A turther description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
CounGiI's websit¢ at: www.frc.or
.uk/auditorsres
onsibilities. This description forms part of our auditor, s report.
Use of our report
This report is made solely to the charity's trusfres, as a'body, in acLY)rdance with section 144 of the Charities Act 2011 and
regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's
trustees those matt¢rs we are required to state to them in an Auditor's I'eport and for no other putyose. To the fullest extent
pemiitted by law. we do not accxpt or assume responsibilily to anyone other than the charity's trustees as a body for our
audit work, foi. this repoit or for the opinions we have fornied.
LLLR
Haysmatlntyre LLP
Statutory Auditors
10 Queejj Street Pjaee
Londo
EC4R IAG
Date: 23.12.21
Haysmacintyre LLP is eligible to act as an auditor in ternis of section 1212 of the Companies Act 2006.

THE LONDON ORATORY CHARITY
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER202
Unrestricted
Funds
Restricted
Fullds
Total Funds Total Funds
2020
2019
Notes
ltttome from:
Donations and legacies:
Donation5 and gifts
Legacies
HMRC furlough grants
Charitable activities:
- Oratory fees
- Sal&8 of Oratory magazine
Other trading activities
Oratory shop sales
Investments
565,106
208,165
61,273
189,248
12,000
754,354
220,165
61.273
I,117,334
l8,718
44,084
2,718
44,084
2.718
65,015
4,078
11,107
136,682
11,107
202,813
29.444
299,214
66,131
.Total Income
1.029.135
267.379
1,296,514
1.533,803
Expenditure on:
Raising funds:
Fundraising
Trading
Investment management
Charitable activities
275
16,255
75,202
916,490
275
16,255
101,438
1.101,928
7,258
28,052
01.550
1,503,594
26.236
185,438
Total Expendlture
1,008,222
211,674
1,219,896
1,640,454
Net lllcomel(expenditure) before gains on
investments
20,913
55,705
76,618
(106.651)
Net gains on investments
781,035
403,999
1.185,034
1,313.596
Net movement in funds
801,948
459,704
1.261,652
1,206,945
ReconeiliatloD of funds:
Funds brought forward l January 2020
11,288,283
4,231,943
15,520,226
14,313,281
Fundg earried forward 31 December 2l120
12.090,231
4,691,647
16.781.878
15,520,226
All Iransactions during the year were dei'ived from continuing activities.
Comparative figures for the Statement ot'FinanGi&l Activities for year ended 31 December 2019 can b¢ seen irt note 20 to
thes¢ financial statements.
The notes on pages 14 to 27 fonn part of these accounts.
10

THE LONDON ORATORY CHARITY
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 21)20
2020
2019
Notes
FIXED ASSETS
Tangible fixed assets
Investments
197.750
15.999,617
287,938
14,931,397
16.197,367
15,219,335
CURRENT ASSETS
Stock
Debtors
Cash at bank and in hand
20.274
197,955
531,663
18,727
193,338
232,537
749,892
444,602
CREDITORS: Amounts fglling
due within one year
10
(165,381)
(143,71 l)
NET CURRENT ASSETS
584,511
300,891
TOTAL ASSETS LESS CURRENT
LIABILITIESINET ASSETS
16,781,878
15,520,226
FUNDS
Restricted funds
11
4,691,647
4,231,943
Unrestrickd t'unds:
D&signated funds
General funds
l2
7,739
12,082.492
21,024
11267.259
12,090,231
11,288.283
16,78 I,878
15,520,226
The charity only surplus foi. the year amounted to £1,26 1,652 (2019: £1,206.945).
The financial sl'atements wei"e approved and authori5ed for issue by the Board of Tru5tee5 On
and were signed below on its behalf by:
The Reverend Julian Large
Trustee
Then
es on pages 14 to 27 forni Part of Ihese account&

THE LONDON ORATORY CHARITY
CHARITY BALANCE SHEET
AS AT 31 DECEMBER 2020
2020
2019
Notes
FIXED ASSETS
Tangible fixed assets
Investments
197,750
15,999,619
287,938
14,93J,399
16,197,369
15,219,337
CURRENT ASSETS
Debtors
Cash at bank and in hand
201,058
528,284
220.575
214,708
729,342
435,283
CREDITORS: amounts falling
due within olle year
10
(144,833)
(134,394)
NET CURREL¥T ASSETS
584,509
300,889
TOTAL ASSETS LESS CURRENT
LIABILITIESJNET ASSETS
16,78l,878
15,520,226
FUNDS
Restricted funds
4,691,647
4,231,943
Unrestricted funds:
Designated funds
General funds
12
7,739
12,082,492
21.024
L1,267,259
12.090.231
11.288.283
16,781,878
15,520,226
,. Zza ?.r) Ll
and were signed below on its behalf by:
The Reverend Juli
Truslee
Lai"ge
The note5 on
ages 14 tt) 27 fom] part of these accounts.
12

THE LONDON ORATORY CHARITY
CONSOLIDATED STATEMENT OF CASH FLOWS
AS AT 31 DECEMBER2020
2020
2019
Notes
Cash llows from operating aetivities:
Net cash (used in) operating artivitl¢5
l7
(4.924)
(326.656)
CAsh from iThve5ting activities:
Dividends and interest from investments
Purchase of fixed assets
Proceeds from sale of investments
Purchase of investments
, (Increase}/decrease in investment cash
202,813
{15,577}
4,463,827
(4,228,683)
(118.330)
299,214
(62,103)
11,081,666
(11.172,637)
175,018
Net cash provided by investing activities
304,050
321,158
ChAnge in cash and cash equivalents in the year
299.126
(5,498}
Cash and eash eqtsivAleJ)ts At the start of the year
18
232,537
238,035
Cash and easb equivAlenls at the end of the year
18
531,663
232,537
The note5 on page5 l4 to 27 forni part of these accounts.
13

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMEIYTS
FOR THE YEAR ENDED 31 DECEMBER 202
ACCOUNTING POLICIES
Basi5 of preparatio
The financial statements have been prepared in accordance with the Statement of Recommended Pradice for
Charities (SORP 2019) (Second Edition, effective l January 2019) and the financial Reporting Standard
applicable in the UK and Republie of Ireland (FRS 102).
The London Oratory Charity meets the definition of a public benefjt entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stat¢d in the relevant
acGounting policy notes.
b)
Basis of Coosojidation
The consolidafrd accounts consolidate those ot. the charity and of its subsidiary underlaking up lo 31
December 2020. The result of the charity's non-charitable trading subsidiary, Blemell House Limited, has
been consolidated within the Statement of Financial Activities.
Preparation of the accounls on A goiog eoneern basis
14aving considered the future plans of the Charity, the trustee5 confirm that they have no material
uncertainties about the charity, s ability to continue as a going concern foi. the foreseeable ￿ture.
d)
Income recognition
The charity recognises income when all ot. the following criteria are met: the charity has entitlement to the
tunds and any performance conditions attached to the items of income have been met. it is probable that the
income will be received and the amount can be measui'ed reliably.
Where income has related expenditure (as with fundraising or similar income). the income and related
expenditure are reported gross in the Statement of Financial Activities.
For legacies, entitlement is taken on a case by case basis as the earlier of the date on which either; the
charity is aware that probate has been granted, the estate has been finalis¢d and notification has been made
by the executor{s) to the charity that a distribution will be made, or when a distribution is received from the
estate and any conditions attached to the legacy are within the control of the charity. If the legacy is in the
form of an asset other than cash or an asset listed on a recognised stock exchang¢. recognition is subject to
the valu¢ of the asset being able to be reliably measured and title to the asset has passed to the charity- Where
legacies have been notified to the charity or the charity is aware of the granting of probate, and the criteria
for income recognition have not been met, then the le8aGy is treated as a contingent asset and disclosed if
material.
Donations by means of collections or received in cash are recognised upon receipt of fund&
Interest on deposit tiinds held 18 included when receivable and the amount can be measui'ed reliably.
Dividends are recognis¢d once the dividend has been declared and notification has been received or dividend
15 due. This is nonnally upon rK)titication by the investment advisor of the dividend yield of the investment
portfolio.
HMRC furlough grants repre5¢nt the total amount claimed from HM Revenue and Customs under the
Coronavirus Job Retention Scheme (CJRS). The income is accounted for in.the period in which the salary
payments are made tA) ￿rIOu8hcd staff.
14

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
ACCOUNTTNG POLICIES (continued)
Expellditure recognltlon
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party,
it is probable that settlement will be required and the amount of the obligation can be measured reliably. All
expenditure is accounteAI for on an accruals basis under the following headings:
Costs of raising funds comprises fundt2ising costs incurred in seeking donations. grant5 and legacies;
investment management fees; costs of fundraising activities including the costs of goods sold, and their
associated support eosts. Fundraising fA)5ts do not include the costs of disseminating information in support
of the charitable activities.
Expenditure on charitable activities includes the costs of operating the church and related activiti¢s and
includes all activities undertaken lo further the purposes of the charity and their associated support costs.
Govemance costs are those eosts incurred in connection with the compliance with constitutional and statutory
requirements of the eharity.
Support costs are allocated to charitable activities based on tirne spent in each area.
Irrecover&ble VA T is charged as a cost against the activity for which the expenditure was incurred.
Tangible Ftsed Assets
Fixed assets ￿'e capitalised if their original cost ot. purchase exceeds £600.
Depreciation is provided on all tangible fixed assets capil'alised, at l'ates calculated to wril'e of the cost of
each asset evenly over its expected useful lit¢, as t'ollows:
Computer equipment
Fixtures, f5ttings and other equipment
Motoi. vehicles
3 years
S years
- 4 years
The Charity had 2 voluntary aideAI church schools, one of which becarne an academy on l August 201 l. The
school properties (land and buildings) are vested in the name of Ihe Charity. The London Oratory Charity
cannot take a unilateral decision lo dispose of these properties. Disposal can only occur if the school
governors and the Secretary of St&te for Education decide that all oi. pai't of a school site is no longer required
for education. In most circumstances. where a disposal occurs, the Secretary of Slate or the local authority
may be entitled to r¢LJ)up grant. Although no rights of ownership vest in the school goveining body, most
other rights and obligations. suoh as for th¢ maintenance and repair of the school and its facilities, are passed
to the Governors. The Trustees therefore consider that. for the purposes of these financial statements. the
nature of their ownership is that of a custodianship and therefore these properties have not been capitalised.
Details of th¢se properties are set out in the notes to the accounts.
g)
Heritage assets
No value is attributed to heritage assets on the basis that int'ormation on cost or valuation of the asset5 is not
avaijable and (x)uld not be obtained at reasonable cost. The age. variety and I￿k of comparable market data
would make any attempt at valuation extremely onerous and LY)stly ci)mpared with the benefit derived by
users of the accounts.
15

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 202
ACCOUNTING POLICIES (Continued)
h)
Investments
Investments are a fomi of basAC financial instrument and are initially recognised at their transaction value
and subsequently measured at their fair value as at the balance sheet date using the closing quoted market
price, except for the share5 in the trading subsidiary which are Garri¢d at cost. The Statement ot Financial
Activiti&8 includ&8 the net gains and Eosses arising on revaluation and disposals throughout the year.
Realised gains and losses on investments are calculated as the difference between sales proceeds and their
opening carrying value or their purchase value if acquii'ed subsequent to the tirst day of th¢ financial year.
Unrealised gains and losses are calculated as the difference between the fair value at the year end and their
arrying value. Re&lised and unrealised investment gains and losses are combined in the Statement of
Financial Activities.
FuDd Accounting
Unrestricted funds
Funds are available to spend on. activities that further any of the purposes of the charity.
Restricted Funds
Restricted funds are those lunds which are ts) be used in accordanrx with 5p¢cific instructions imposed by
th¢ donor or trust deed.
Designated Funds
Funds are unrestricted funds of the charity which the trustees have decided at Iheir discretion ts) set asid¢ for
a specific purpose:
Edifices Fund- to cover major repairs or improvements.
Halls Fund - for maintenance of St Wilfrid'5 Hall and St Joseph's Hall.
J)
Debtors
Debtors are recogni5ed at the settlement amount due aftei. any trade discount offered. Prepayments are valued
at the amount prepaid net of any trade discounts due.
Cash at bank
Cash at bank and in hand includes bank accounts, cash and short terrn highly liquid investments with a short
maturity ot. three months or les5 from th¢ date ot ￿qUISition or opening of the deposit or similar account.
i)
Stock
Stock is included at the lower of cost and net realisable value.
m) Creditors and provisions
Creditors and provisions are recognised where the chai'ity has a present obligation resulting from a past event
that will probably result in the transfer of funds to a third party and the amount due to settle the obligation
can be measured or eslimated reliably. Creditors and provisions are normally recognised at their settlement
amount after allowing for any trade discounts due.
16

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EL¥IDED 31 DECEMBER 2020
ACCOUNTING POLICIES (continued)
Estlmation uncertainty
In th¢ view of the Trustees in applying the accounting policies adopted. no judgements were required that
have a significant effect on the amounts recognised in the fJnanGial statements nor do any estimates or
assumptions made cany a significant risk ofmatcrial adjustment in the next financial year.
nRnciRI Inslrumenls
The Charity only has basic f5nancial &8sets and financial liabilities of a kind that qualify as basic fIn￿CIal
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value.
RAISING FUNDS
Total
2020
Total
2019
Fundraising
Advertisements and appeals
Summer Garden Party expenses
275
1,861
5.397
275
7,258
Traditsg
Oratory shop cost of sales
16,255
28,052
All expenditure in the above categoi'ies was allocated to unrestricted funds in both the current and prior year.
CHARTTABLE ACtIVITIES 2020
Unrestricted
Fullds
Reslricted
Funds
Total
2020
Total
2019
Church expenses
Music costs
Premises costs
Premises - Major Works
Pi'emises - Boiler Room
Pi'emises - Schools
Community ¢xpenses
Newnan
Novices
Social and pastoral
Diocese expenses
LOS donations
Religious education
Support costs (see bLlow)
Governance (see note 4)
166,469
111.664
295.971
71,753
7,600
53.142
l74,069
164,806
295.971
71,753
12,713
237,502
283, [03
311,790
147,985
12,713
35.317
183,495
50,823
81,679
64,787
8,800
33
160,607
380
160,987
88,071
23,532
88,071
31,660
8,543
88
8,128
8,543
88
35,027
58,235
35,027
58,235
39,060
59,220
916,490
[85,438
I,IOL,928
1,503,594
17

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCTAL STATEIIqENTS (colltlnued)
FOR THE YEAR ENDED 31 DECEMBER 21)20
CHAIUTABLE ACTIVITIES 2019
Unrestricted
Funds
Restrieted
Funds
Total
2019
Church expenses
Music costs
Premis&s costs
Premises - Major Works
Premises - Schools
Community expenses
Newman
Noviees
Social and pastoral
Diocese expenses
LOS donations
Support costs (see below)
Governance (see note 4)
234,662
135,889
31 I,790
147,985
2,840
147,214
237,502
283,103
311,790
147,985
35,3 l7
183.495
50.823
81,679
64,787
8.800
33
39,060
59,220
35,3 L7
112
50.823
81,679
47,631
183,383
17,156
8,800
33
39,060
59,220
I, L37,978
365,616
1,503,594
2020
2019
SUPPORT COSTS CONSIST OF:
Printing, postage and stationery
Telephone and fax
Internet
Bank charges
Othei.
4,282
5,932
8,239
10,364
6210
5,245
5,567
7,554
17.053
3,64l
35.027
39,060
GOVERNANCE COSTS
Total
2020
TotAI
2019
Salaries
Auditors, remuneration:
- Charity
- Blemell House
Other fees payable to the auditor - a)rporation tax
Other costs
24,3 96
28,605
22,080
2,500
1,020
8,239
21,240
L,680
7,695
58,235
59,220
18

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS {eontinued)
FOR THE YEAR ENDED 31 DECEMBER 2020
TOTAL EXPENDITURE - 2020
Staff
Costs
Other
Costs
Total
2020
Tot41
2019
GoverDallce
Depreciatio
Charitable activities
Raising funds
316,574
621,354
117,968
58,235
105,765
1,101,928
117,968
1.503,594
136.860
316,574
739.322
58,235
105,765
1,219,896
1,640,454
TOTAL EXPENDITURE- 2019
Staff
Costs
Other
Costs
Tolal
2019
Governance
Depreciation
Charitsble activities
Raising funds
3l3,661
1.037,981
136,860
59,220
92,732
1,503,594
136,860
313,661
l.l74.84l
59,220
92,732
1,640,454
Staff Costs
20211
2019
Wages and salaries
SOCI￿ secui'ity costs
Pension costs
287,624
21,503
7,447
298,064
37,305
6,897
316,574
342,266
No employee earned £60,000 pa or more.
2020
2019
The average number ot employees was:
15
15
The trustees constitute the key mana8¢rnent personnel - see note 6 below.
TRANSACTIONS WITH TRUSTEES
As members of the Congregation, the Trustees, living expenses during the year were borne by the Charity but the
Trustees received no remuneration or other benefils in connection with their duties as Trustees during the year
(2019: Nil).
19

THE LOI¥4DON ORATORY CHAIUTY
NOTES TO THE FINANCIAL STATEMENTS {continued)
FOR THE YEAR ENDED 31 DECEMBER2020
TANGIBLE FLXED ASSETS - GROUP AND CHARtTY
Computers
and Other
Equipment
Fixtures and
Fittings
Motor
Vehic1£5
Total
COST
At l January 2020
Additions
Disposals
26,124
525,619
15,577
(6,874)
14.039
565,782
15.577
(6,874)
At 31 December 2020
26,124
534,322
14,039
574,485
DEPRECIATION
At l January 2020
Disposals
Charge for the year
23,776
240,029
(6,874)
104,873
14,039
277,844
(6,874)
105,765
892
At 31 December 2020
24,668
338,028
14,039
376,735
NET BOOK VALUE
(represented by Fixed Assets used for charitable purposes)
2020:
1,456
l 96,294
197,750
2019:
2,348
285,590
287,938
No value for the property (Listed Building Status Grade II*), LU)mprising The Oratory SW7 is reflected in the
f]nancial slatements. T.he buildings were erected between 1854 and 1884 wilh further additions up to 1911.
Historic c05t data 15 not available and. in any event. the net book value, after charging norn]al rates of depreciation
would not be material. The property has an insurance value of £40M, and & replacement cost of £1 15M.
Any material improvLment to the buildings will be capitalised and depreciated over the expected usetul life.
Two schools are owned in the name of the London Oratory Charity:
The Oraloiy Primary School, a voluntary aided school in the Royal Borough of Kensington and ChLlsea.
The London Oratory School, an academy in the borough of l-Iammer8mith and Fulham.
The Trustees consider that the school properties have no capital value to the London Oratory Charity
A¢¢ounting Policy l(fj- The school properties have an insurance value of £42.3M.
see
20

THE LONDON ORATORY CHARITY
NOTES TO THE ACCOUNTS (CoDtinued)
FOR THE YEAR ENDED 31 DECEMBER 2020
FIXED ASSET INVESTMENTS
Group
Charity
2020
2019
2020
2019
Market value at l January 2020
Less: Disposals
Add: Acquisition5 at ¢0St
Net gains on revaluation
R¢alis¢d (Ios5es)/gains
14,835,961
13.431,394
(4,463,827) (I1,081,666)
4,228,683
11.172,637
1,728,261
986.906
(543,227)
326,690
14.835.963
13,431,396
(4,483,827) (11,081,666)
4.228.683
11.172.637
1.728,26l
986,906
(543,227)
326,690
Market value at 31 December 2020
15.785,851
14,835,961
15,785,853
14,835,963
Cash held for investment
213,766
95,436
213,766
95.436
15,999,617
l4,931,397
15,999,619
14,931,399
Historical cost at 31 December 2020
13.407,787
l3,595,063
13,407,787
13,595,065
Listed Investments:
F ixed interest
Equities and bonds
2,438.417
13,347,434
2,162,077
12,673,884
2,438,417
13,347,434
2,162,077
12.673.884
15,785,851
l4,835,961
15,785,851
14,835,961
Unquoted Inve8tment=
Blemell House Ltd
15,785,851
213,766
14,835,961
95,436
15,785,853
213,766
14,835,963
95,436
Cash held for investment
15.999.617
14,931,397
15,999,619
14,931,399
DEBTORS
Group
Charity
2020
2019
2020
2019
Other debtors
Amounts owed by group companies
197,955
193.338
197,937
3,121
207,430
13,145
197,955
193.338
20 I,058
220,575
21

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 DECEMBER 21J20
10.
CREDITORS: amounts f&lling due
within one year
Group
Charity
202
21)19
2020
2019
Other creditors
Accruals and deferred income
Other taxes and social security
132,275
25,320
7.786
112.071
21,240
10,400
I I I,727
25,320
7.786
105,423
21,240
7,731
165,38l
143.711
144,833
l34,394
11.
RESTRICTED FUNDS- GROUP AND CHARITY 202
Balance
l January
21)20
Transfers/
GAins &
{Losses)
Bal&nce
31 December
2020
Income
Expenditure
St Raphael's Fund
Prefects Fund
Choir
Organ
Poor Fund
St Wilfrid's Ststue
Brompton Baroque
Primary School Funds
Calvary Carving
Pettman Scholarsh ip
Church Lighting Fund
0￿r Lady's Fjowers
229,348
22,185
2,464,128
19,161
14,829
1,976
4,552
157,968
5,443
1,237,989
72,568
1,796
158,413
369
53,542
116
17,548
(89,503)
(583)
(57,223)
(3, E07)
(23.532)
14,876
2.110
253,875
313,134
24,081
2,714,322
16,170
8,845
1,977
4.556
l64,243
5,443
1,365,394
72,627
855
10.530
(13,614)
9J59
20.138
59
6,659
(16.512)
123,779
(7.600)
4,231,943
267,379
(211,674)
403,999
4,691,647
22

THE LONDON ORATORY CHAIUTY
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2020
RESTRICTED FUNDS- GROUP AND CHARITY 2019
B4laryce
l January
2019
Transfers/
Gaios &
(Losses)
BAlanee
31 December
21)19
Income
Expendlture
St Raphael's Fund
Prefects Fund
Choir
Organ
Poor Fund
St Wilfrid's Statue
Brompton Baroque
Primary School Funds
Calvary Carving
Pettman Scholarship
Church Lighting Fund
Orchestra Fund
Our Lady, s Flowers
Newman Callonisution
186,895
19,638
2,427,240
23,301
23,249
1,972
4.542
149,822
5,443
1,171,232
72,415
3,548
104,243
508
(83,131)
(988)
(l39,401)
(4,287)
(47,631)
21,341
3,027
104,438
229.348
22,185
2,464,128
19,161
14.829
1,976
4,552
157,968
5,443
1,237,989
72,568
71,851
147
39,211
10
30,952
(36,231)
13,425
34,324
153
(18,487)
50.920
(7,103)
{2.840)
(50,823)
3,551
4,636
28,789
1,796
22,034
4,089,297
3 l4.832
(390,922)
218,736
4,23l,943
The Funds are established for the following:
St Raphael's
Maintenance and education of Oratorian novices and students.
Pi'efect's
For the Brothers of The Littl¢ Oratory.
Choir
For the support of the Oi'atory Choir.
Organ
Foi. major overhauls and maintenance of the Oratory pipe organs.
Poor fund
For the relief ot poverty.
St Wiltrid's Statue
Carving of a statu¢ of St Wilfrid.
Brompton Baroque
For Baroque recitals,
Primary School Funds
Parental contributions etc for the Oratory Primary Schoo l.
Calvary carving
For the carving and installation of a new calvary ciucifix. st&tues, and mural.
The balance is to be used for improvements to lighting and floor repairs.
Organ Scholarship in memory of June Pettman.
Toward5 church lighting.
For orchestras at Mass.
For flowers at the Lady Altar
For Rome events, internet activities and local eommemorations surrounding the
canonisation of Cardinal Newman in October 2019.
Pettsnan SChol￿'ship
Church Lighting Fund
Orchestra Fund
Our Lady's Flowers
Newman Canonisation
23

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 DECEMBER 20211
J2. DESIGNATED FUNDS - GROUP AND CHARITY 2020
The income funds of the charity include the following designated funds which have been set aside out of unrestricted
funds by th¢ Trustees for specific purposes.
Balaaee
l January
2020
Balanee
31 Deeember
Income
Expenditure
Trallsfers
2020
Halls
21,024
6,989
(20,274)
7,739
21,024
6,989
(20,274)
7,739
The funds are established for the following:
EdifieAs
For major repairs or improvements.
Halls
For the maintenance of St Wiltrid's Hall and St Joseph's Hall.
DESIGNATED FUNDS- GROUP AND CHARITY- 2019
The income fund8 of the charity Include the following designated funds which have been set aside out of unrestricted
funds by the Trustees for specific purposes.
Balance
l January
2019
Balanee
31 December
2019
Ineome
Expenditure
Transfers
Editi¢¢s
Halls
18.010
21,024
30
(18,040)
21,024
39,034
30
{l8,040)
21,024
13.
ANALYSIS OF NET ASSETS BETWEEN FUNDS- GROUP- 2020
Total
Funds
202
Ullrestricted
Funds
Restricted
Fullds
Fund balances at 3 l December 2020
'e represented by:
Tangible Fixed Assets
Investments
Current assets
Creditors due within l year
197.750
11,566,756
487,612
{161,887)
L97.750
l5,999.617
749,892
(165,381)
4,432,861
262,280
(3.494)
12,090,23 1
4,691.647
l6,781,878
24

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2020
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS- CROUP- 2019
Total
Funds
2019
Unrestricted
Fullds
Restricted
Funds
Fund balances at 3 l December 20 I9
are represented by:
Tangible Fixed Assets
Investments
Current assets
Creditors due within l year
287,938
10,884,990
254,229
(138,874)
287,938
14,931,397
444,602
(143,711)
4,046,407
I90,373
(4,837)
I 1,288,283
4.231,943
15,520,226
14.
CONNECTED ORGANISATIONS
The London Oratory School, which became an academy on l August 201 l (previously a voluntary aided school}
in the Borough of Hammersmith and Fulham and th¢ Oratory Primary School. a voluntsry aided school in the
Royal Borough of Ken5in8ton and Chelse4 are connected.
15. TRADING SUBSIDIARY
The charity has a wholly owned trading subsidiary, Blemell House Limited (Company Registered Number-
7899744). Blemell House's principal activily is to e&Ty Out trading operdtion5 to support the London Oratory
Charity.
A summary of the trading I'esults for the year for Blemell House Limited is shown below.
2020
2019
Turnover
Cost of sales
41,535
(16.255)
61.236
(28,052)
Gross profit
Administration expenses
Other income
25,280
{5,169)
10
33.184
(5,565)
41
Prtsfit for the year before Gift Aid
20,121
27,660
Balante Sheet
2020
2020
Current assets
Less creditors falling due Ivithin one year
23,671
(20,548)
37,037
(37,035)
3,123
Represented by:
Share capital
Profit and loss account
3,121
3,123
25

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR EIYDED 31 DECEMBER 2020
16. HERITAGE ASSETS
No value is attributed to the h¢ritag¢ a5sds on the basis that information on cost or valuation of the assets is not
available and could not be obiained at reasonable cost. Heritsge assets Include plat4 textiles, books, monuments
and statues contained within the Or&tory. The assets are integral to the Charity's objective of advancing the Roman
Catholic religion. They ajl have very long l ive5 and are worth preserving indefinitely. The trustees consider that it
would b¢ prej udicial tx) the safe custody of these assets to disclose details of their v&lue and usage in these accounts.
The Oratory has accumulated over the last 160 years a sizeable and specialised collection of religious plate, art
works, vestments and books. Very few of these are ot signiticant individual worth. These are used to adom the
Oratory church and enrich the church's liturgies. Many of the paintings and st2tues are on display in the church,
open for over 12 hours daily throughout the year. Different vestments and plate are used during Mass and other
hurch services on various days throughout the liturgical year.
A register ot"plate and vestments is maintained. A full card index of books is maintained in the libr￿Y and individual
scholars and researchers are granted access to the library if appropriate.
Fleritage assets are maintained and conserved as far as possible. There ig no poliey to dispose of these assets.
17. RECONCILIATION OF NET INCOME TO NET CASH
FLOW USED IN OPERATING ACTIVITIES
2020
2019
Net income for the year (as per the Statement of Financial Activities)
1.261,652
1,206.945
Adjustrnents for:
Depreciation charges
(Gains)/losses on investments
Dividends and interest from investments
Increase in stock
Increase in debtors
Increase/(decrease) in creditors
L05,765
92.732
(1,185.034) (I,313,596)
(202,813)
(299,214)
(1,547}
(2,265)
(4.617)
(918)
21,670
(10,340)
Net cash (used in) operating activities
(4,924)
(326,656)
ANALYSIS OF CASH AND CASH EQUIVALENTS
2020
2019
Cash and bank and in hand
531.663
232,537
19. RELATED PARTIES
During the Ye￿., the Charity was gifted £17,000 trom profits of Blemell House Limited. At the year-end. Blemell
House Limited owed £13,045 (2019 - £27,616) to the Charityl.
In addition, the charity incurred no expenditure (2019: £8.900) in respect of safeguarding Iraining carried out by W
F&ber Counselling. Rev Rupert McHardy and Rev Julian Large, trustees of this charity, are trustees of W Faber
Counselling. £1,249 (20 19: £13,799) was owed by W Faber Counselling at th¢ year-end.
There were no further related party transaGtions requiring disclosure in either the current or prioi. year.
26

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2020
20. STATEMENT OF FINANCIAL ACTIVITIES 2019
UDr£stricted
Funds
Restricted
Funds
Total Funds
2019
Income from:
Donations and1¢8acies:
- Donations and gifts
Legacies
Charitable activities:
- Oratory fees
- Sales of Oratory rnagazine
Other trading activities
Oratory shop sales
Investments
914,692
17,818
202,642
900
1,117,334
18.718
65,015
4.078
65,015
4.078
29,444
187,924
29,444
299.214
111,290
Total Ineome
1,218,971
314,832
I,533,803
Expenditure on:
Raising funds:
Fundraising
Trading
Investment management
Charitable activities
7.258
28.052
76,244
1.137.978
7.258
28,052
101,550
1.503.594
25,306
365,616
Total Expenditure
1,249,532
390,922
1,640,454
Net (expenditure) before gaillsl(losses) on investments
{30,561)
(76,090)
(106,651)
Net gainsl(losses) on investments
1,120,445
193,151
1,313,596
Net ineoMe/(expendit￿re) before transferg
1,089,884
117,061
1,206.945
Transfers between tiinds
(25,585)
25,585
Net movement in funds
1,064299
142,646
1,206,945
Reooneilistion of fllnds:
Funds brought forward l Janu&ry 2019
10,223,984
4.089,297
14,3l3,281
Funds tArried forward 31 Deeember 2019
11,288,283
4,231,943
15,520,226
27