THE LONDON ORATORY CHARITY
Charity Number: 240702
TRUSTEES, ANNUAL REPORT
AND
CONSOLIDATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Haysmacintyre LLP
Chattered Accountants
10 Queen Street Place
London
EC4R IAG

THE LONDON ORATORY CHARITY
CONTENTS
Page
Trustees, Annual Report
Independent Auditors, Report
10
Consolidated Statement of Financial Activities
11
Consolidated Balance Sheet
12
Charity Balance Sheet
13
Consolidated Statement of Cash Flows
14 - 27 Notes to the Accounts

THE LONDON ORATORY CHARITY
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
REFERENCE AND ADMINISTRATIVE DETAILS
REGISTERED CHARITY NUMBER:
240702
TRUSTEES:
The Reverend Julian Large (Provost and Chairman of Trustees)
Revd G Bowen
Revd Rupert McHardy
Rev'd Michael Lang
Rev'd Edward van den Bergh
OFFICE:
The Oratory
Brompton Road
London SW7 2RP
GOVERNING INSTRUMENT:
Charity Commission Scheme dated 14 August 1969
AUDITORS:
Haysmacintyre LLP
l O Queen Sti'eet Place
London
EC4R IAG
SOLICITORS:
Withers
20 Old Bailey
London EC4M 7EG
BANKERS:
National Westminster Bank PIC
18 CromwelI Place London SW7 2LB
INVESTMENT MANAGERS:
Handelsbanken Wealth and Asset Management Ltd
No.1 Kingsway
London WC2B 6AN
INVESTMENT POWERS:
The provisions of the Ti'ustees Act 2000 applied during the year.

THE LONDON ORATORY CHARITY
TRUSTEES, ANNUAL REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
OBJECTIVES AND ACTIVITIES
THE CHARITY'S OBJECTS
The Scheme specifies '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 Congregation of the Oratory of St Philip Neri in London in such ways as
the Trustees of the 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 Oratory 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 Masses and many other regular seivices. The Oratory Fathers who currently comprise the Congregation of the
Oratory of St Philip Neri in London, provide a wide range of support and pastoral care for their parishioners and those who
worship in the Oratory church, and do so in the spirit of their founder St Philip Neri.
St Philip founded the Oratory in 16th century Rome; this has spread world-wide, secular priests living together a community
life without vows, each Congi'egation independent from one another, with membei's intending to stay in the same
community for their whole lives. This apostolate was brought to England by Blessed Cardinal Newman in the 1840's, with
Father Faber founding the London Oiatoiy at first in cramped premises near the Strand, moving to South Kensington in
1854. Since that time, the Oratory Fathers have continued pastoral work in London, often in conjunction with other parishes
and oi'ganisations in the Roman Catholic Archdiocese of Westminster, of which the Oi'atoty parish forms a pai't. The parish
covei's a large area of South Kensington, bounded by Gloucester Road, Hyde Park, Walton Street, Cale Street and Old
Brompton Road.
A large Sunday Mass attendance and provision of the Sacraments and Christian fornlation to the parish and to regular
worshippei"s, togethei. with Catholic chaplaincy duties at the Royal Brompton Hospital, 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 Charity's
religious and pastoral activities.
MUSIC
A special feature of the Oratoiy has been its musical tradition, inspired by St Philip's own patronage of Palestrina, and the
Fathers aim to maintain the highest standards in Church music. In this, they are following the directions of the Second
Vatican Council; "Large choii's existing .
in major churches, which have in the cout'se of centuries earned for themselves
high renown by preserving and developing musical heritage of inestimable value, should be retained for sacred celebi"ations
of a more elaborate kind" (Instruction on Music in the Sacred Liturgy, 1967). It is this heritage of Gi'egorian chant and the
great works of Catholic Chui'ch music that is kept alive each Sunday and on major feast days.
A generous legacy was bequeathed by the late Jennifer Paterson for the maintenance of the Oratory Choir, establishing a
Restricted fund, the Choir Fund, to help meet the costs of the Oratory choir, which sings at Solemn Mass and Vespers.
In 2003 a major overhaul of the church organ, built by J W Walker in 1954, was put in hand, and completed in 2007. This
instrument is one of the most important built in London in the post-world War II period. Possessing 45 stops on three
manuals, it was designed by Ralph Downes, organist of the Oratory 1936-77. The Bi"itish Institute of Organ Studies Journal,
1996 describes it as the most successful of its kind in London.
In 201 I, a scholarship was established to support the new position of Oi'gan Scholar, through the generosity of a regular
worshipper, in memory of his late wife, June Pettman. The funds of this scholarship were significantly augmented with a
large legacy, received in 2017. The Fathei"s are most grateful to the late Mr Pettman for this wonderful gestui'e of suppoit.

THE LONDON ORATORY CHARITY
TRUSTEES, ANNUAL REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
PREMISES
The Oratory premises consist of the Oratory Church with the Lodge, the Oratory House and Halls, and the Newman Statue.
The Church, built between 1880-84 with the dome and facade added in the 1890's, is a Grade II* listed building in neo-
Baroque style. The Oratory House and Halls, built between 1853 and 191 I, comprise the domcstic areas of the Oratorian
community, administration offices, Little Oratory) and parish halls. These are Grade II* listed buildings. The Statue of
Cardinal Newman (1896) on Brompton Road has a Grade II listing. All of these properties are owned freehold. The upkeep
of these extensive premises requires substantial management and both ongoing and major maintenance.
SCHOOLS
The Oratory Fathers have had a longstanding commitment to Catholic Education, and are presently Trustees of two schools,
the Oratory Primary School in Cale Street, Chelsea, and the London Oratory School in Fulham. The London Oratory
School was granted Academy status from l August 2011.
VOLUNTEER HELP
The Fathers of the Oratory (Congregation of the Oratory of St Philip Neri) rely substantially on volunteer help and financial
support in many of their pastoral activities, and are much encouraged by the continuing level of commitment from a large
number of people over many years.
NOVICES
A duty on the Congregation is to recruit, educate and train suitable candidates for the Catholic Priesthood, to serve as
priests in the Oratory for the rest of their lives. Unlike religious Orders and Catholic dioceses, candidates join the Oratory
to become members of the Community in that location. clergy are not moved from house to house by a superior or bishop.
Therc was one candidate at 31 December 2022 (2021- two). The candidate was ordained to the diaconate in December
2022.
PUBLIC BENEFIT
The pi'imary public benefit of the Oratory is the provision of an ethical and moral code for society: the Oratoiy
communicates, educates, encourages and coaches individuals into following and living the Catholic faith. The Oratory
strongly supports the spiritual, moral and academic education of children, through catechetical programmes and
sacramental preparation, as well as maintaining two schools. The Oratory also provides and maintains its church and other
listed buildings. Further details of these activities are given throughout the Annual Report and Accounts.
That the Oratory does produce a public benefit beyond that benefit that aCCi￿eS to its members, is shown in the public
character of its distinctive buildings. All members of the public are welcome to enter the Oratory church free of charge for
purposes connected to prayer, worship, meditation and the advancement of religion.
In addition to donations to the charity, Oratory parishioners and visitors donated £4,708 to UK and international Catholic
charities, (2021- £5,044), and £7,520 to the Archdiocese of Westminstei. (2021- £2,334).
The Ti'ustees confim] that, in determining the activities of the charity, they have paid regard to 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 throughout the year, in the
Oratory church and premises at Brompton Road, at the Oratory schools, in hospitals and elsewhere. The Fathers made
themselves available to parishioners, visitoi"s and those in need. Every day of the year the Church remained open for private
prayer and visiting. The pastoral and spii"itual work undeitaken by the Fathers is not susceptible to numerical measurement,
and continues year by year within a long-established framework.

THE LONDON ORATORY CHARITY
TRUSTEES, ANNUAL REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
INVESTMENT POLICY AND PERFORMANCE
The target set for the fund managers is to achieve a certain return of both income and capital growth with no more than a
moderate level of risk. The charity avoids direct investment in armaments, pornography and "anti-life" pharmaceuticals.
During the year the value of the Charity's investment portfolio fell. The continuing stock market volatility since the year
end emphasises that a considerable degree of caution is needed when considering investment values.
Investment values do not necessarily represent liquid resources to spend; the capital sums need to be held to generate
income to support the Charity's ongoing work and commitments.
The investment model target for 2022 continued as inflation plus 3.5 %. Investments showed a total return of- l 0.60/,.
PLANS FOR FUTURE PERIODS
The Oratory Fathers plan to continue all their present activities
their pastoral work in the Oratory Church and Parish,
their schools,
the upkeep and development of their premises,
maintenance of sufficieiit I'eserves, and generation of further gi.owth of investment portfolios to ensure the long-
tenn future of the charity.
With the support and collaboi'ation of those who are drawn to Christ and His Church and who seek the Oratory's help in
fulfilling their Christian vocation to know, love and serve God in this world and to be happy with Him for ever in the next.
FINANCIAL REVIEW
Principal sources of income include donatÉons made at religious services in the Oratory Church. Offei'tory collections
£252,702 (2021: £111,530) other voluntary contributions made dii"ectly for the support of the Oratory church: £455,986
(2021: £446,740), and contributions to support Music: £57,110 (2021: £16,488). Donations for social and pastoral activities
totalled £45,519 (2021: £3 8,428). St Raphael's annual appeal raised £60,999 (2021: £76,223). General donations totalled
£15,367 (2021: £70,930). The coronavil￿S Job Retention Scheme grants totalled £nil (2021: £12,733). Investment income
totalled £213,105 (2021: £199,378). Legacies totalled £889,163 (2020: £62,863).
Details of expenditure are given in notes 2 to 5 of the Annual Accounts.
Overall, befoi'e investments, the Oratory has a net gain of £514,478 (2021: deficit of £129,357)
RESERVES
Unrestricted funds at 31 December 2022 totalled £11,462,744 (2021: £13,087,985) of which £nil (2021: £2,129) has been
set aside for specific purposes leaving £11,462,744 (2020: £13,085,856) for the general purposes of the Charity. This is
equivalent to approximately 7.6 years, urn'estricted expenditui'e. However, the charity, s free reserves excluding
investments, total £97,953 (2021: £207,968) and are equivalent to one months, (2021: 2 months) unrestricted fund
expenditure.
Restricted funds at 31 December 2022 totalled £5,190,087 (2021: £4,960,215).
Given the listed building status and historic nature of the whole Brompton Road premises, the independent position of the
Oratory, (separate from the Archdiocese of Westminster and from othei. Oratories), and the prevalent financial and
economic uncertainty, these are regarded, along with investments, as appropriate levels necessary for supporting the
Charity's ongoing commitments and securing its long terni operation.

THE LONDON ORATORY CHARITY
TRUSTEES, ANNUAL REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
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 having 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. The systems are
devised according to need. The scope of all these measures is reviewed regularly by the Trustees.
Safeguarding
The safeguarding of children and of adults at risk is of great importance to the Oratory. Failing to prevent abuse of the
vulnerable has serious repercussions for the individual, the mission of the Oratory and the Catholic Church. The
consequences of abuse of individuals can be grave and long-lasting. The Charity's aim is to prevent this from happening
to childi'en or adults at risk, whilst in the care of the Church. To mitigate this risk, the Charity follows the policies and
procedures put in place by the Catholic Church in England and Wales.
Community age profile
While the age profile of the members is increasing, as existing members grow oldei.. 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 their vocation elsewhere in the Catholic Church, other still find that their vocation is to a diffei'ent state in life. A
restricted fund (St Raphael's) has been established to provide for the support and training of new candidates for the
priesthood.
Long-term financial sustainability
Risks include reductions in key sources of revenue, and increased costs of staffing and routine maintenance and compliance
upgrades of the premises.
The Oratory's income comes from four main sources- collections and other donations made in church, investment income,
legacies, and income from varied external uses of the pi'emises. This is supplemented by fund-raising for special projects,
and other smaller income streams.
Property upkeep
The two main Oratory buildings are both 19th century Grade Il* Listed Buildings. Their long-term fitness for use requires
regular large-scale projects to keep them watertight and the infi'astructure up to date, whilst maintaining the historic
charactei. of the buildings, often involving specialist contractors and specialist skills.

THE LONDON ORATORY CHARITY
TRUSTEES, ANNUAL REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
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 Incorpoi'ation 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 within
the Roman Catholic Church; the priests elect from within their number 5 Trustees to serve for three years. At the triennial
election on 26 March 2018 Revd Julian Large was re-elected as Provost and Chairman of Trustees, Revds George Bowen,
Rupert McHardy and Michael Lang were re-elected as Trustees, and Revd Edward van den Bergh was also elected. All
five were re-elected on 25 March 2021. The Trustees and the Congregation meet frequently to plan and carry forwai'd their
spiritual and pastoral responsibilities, and to attend to the financial, property, legal and administrative affairs of the Trust.
The trustees are drawn from amongst the existing Fathers, and have already been closely involved in carrying out the
charily's pastoral work and other activities. New trustees will have lived at the Oratory for at least 6 years before their
ordination (at which point they are eligible for election as a trustee) and receive training during these years on the charity's
finances and operating policies.
As well as caiTying out the majority of the Charity's pastoi.al 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 Charity had established a trading subsidiary, Blemell House Limited, 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 being established, and it is anticipated that it will continue to do so.
Statement by the Trustees on the capital value of School Buildings & Lands
The land on which the Oratory Primary School and London Oi"atory School are located, is in the ownership of the Ti'ust.
The main consequence of this that the users of the land, the Governors of the Schools, who have no title of their own in the
land, thei'eby come undei. an obligation to use the property for the purposes set out in the Trust Deed, i.e., they must promote
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 fact accrue to the Tiustees, as the extent to which they can charge rents, take mortgages on the propertyg
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 restrictions lead the Trustees to
conclude that so long as the Schools operate as going concerns, there is no capital value to the Oratory 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 Oratoiy. They are housed by the
Trust and are reimbursed for the expenses incuri'ed in carrying out their ministry in the same way as all other priests of the
Congregation. However, no Ti'ustee received any remuneration or cxpenses from the Charity in connection with their
duties as Trustees during the year. No Trustee had any beneficial interest in any contract with the Charity.

THE LONDON ORATORY CHARITY
TRUSTEES, ANNUAL REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
STATEMENT OF TRUSTEES? RESPONSIBILITIES
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable
law and United Kingdom AcLx)unting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial
year which give a true and fair view of the state of affairs of the charity and the group and of the incoming resources and
application of resources of the group for that period. In preparing these financial statements, the Trustees are required to:
Select suitable accounting policies and then apply them consistently;
Observe the methods and principles in the Charities SORP;
Make judgements and estimates that are reasonable and prudent;
State whether applicable accounting standards have been followed, subject 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 foi. keeping proper accounting records that disclose with reasonable accuracy at any time the
financial position of the charity and the group and enable them 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 steps for the pi'evention and detection of fraud and other ii'i"egularities.
. 3110,frJ4
and signed as authorised on their behalf by:
Father Julian Large - Trustee

INDEPENDENT AUDITORS, 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 31 December 2022 which
comprise the Consolidated Statement of Financial Activities, Consolidated and Charity Balance Sheets, Consolidated
Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 The Financial Reporling Standard applicable in the UK and
Republic of Ireland (United Kingdom Generally 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 2022 and
of the group, s net movement in funds for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We have been appointed as auditor under section 144 of the Charities Act 201 l and report in accordance with the Act and
relevant regulations made or having effect thereunder. We conducted our audit in accordance with International Standards
on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the
Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in
the preparation of the financial statements is appropriate.
Based on the work we have pertoi"med, we have not identified any material uncertainties relating to events or conditions
that, individually oi" collectively, may cast significant doubt on the group's ability to continue as a going concern for a
pei'iod of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are desci'ibed in the relevant
sections of this report.
Other inforniation
The trustees are responsible for the other infonnation. The other information comprises the information includcd in the
Trustees, Report. Our opinion on the financial statements does not cover the other information and, except to the extent
otherwise explicitly stated in oui. report, we do not express any fom] of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so,
consider whether the other infonnation is materially inconsistent with the financial statements, or our knowledge obtained
in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether there is a material misstatement in the financial statements or a
material misstatement of the othei. information. If, based on the work we have perfom]ed, we conclude that there
is a material misstatement of this other information, we are requii'ed to report that fact. We have nothing to report in this
regard.
Matters on which we are required to report by exception
We have nothing to report in I'espect of the following matters in relation to which the Charities (Accounts and Reports)
Regulations 2008 require us to 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 accounting records and retuims; or
we have not received all the infomiation and explanations we require for our audit.
Responsibilities of trustees for the financial statements
As explained more fully in the trustees, responsibilities statement set out on page 7, the trustees are responsible for the
prepai'ation of the financial statements and for being satisfied that they give a true and fair view, and foi. such intemal
conti'ol as the trustees detei'mine is necessary to enable the preparation of financial statements that are free from matei.ial
misstatement, whether due to fraud or en"or.

INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF
THE LONDON ORATORY CHARITY (continued)
In preparing the 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 concem
basis of accounting unless the trustees either intend 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 financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor's report 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. Misstatements can arise from fraud or error and are considered material if,
individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line
with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The
extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on oui. understanding of the charity and the environment in which it operates, we identified that the principal risks
of non-compliance with laws and regulations related to compliance 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 effect on the
financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the
financial statements such as the Charities Act 2011, FRS102 and payroll taxes.
We evaluated management's incentives and oppoi"tunities for fraudulent manipulation of the financial statements (including
the risk of override of controls) and deteiinined that the principal risks were related to recognition of income and
management bias in certain a¢￿UntIng estimates. Audit procedures pei'formed 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; and
Identifying and testirig journals, in particulai. joumal entrtes at the year-end
Challenging assumptions and judgements made by management in their accounting estimates.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those
leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the
more that compliance with a law or regulation is removed from the events and transactions I'eflected in the financial
statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater I'egai'ding
irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion,
omission or misrepresentation.
A furthei" description of our responsibilities for the audit of the financial statements is located on the Financial Repoiting
Council, s website at: www.frc.or
.uk/auditorsres
onsibilities. This description forms pai't of our auditor's I"eport.
Use of our report
This report is made solely to the charity's ti'ustees, as a body, in accordance with section 144 of the Charities Act 201 l 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 matters we ai"e requii.ed to state to them in an Auditor's I"eport and for no other purpose. To the fullest extent
. permitted by law, we do not accept or assume responsibility to anyone other than the charity's trustees as a body for our
audit work, foi. this repoit, or for the opinions we have foiined.
LLLR
Haysmacintyre LLP
Statutory Auditors
10 Queen Street Place
London
EC4R IAG
Date:
13.11.23
Haysmacintyre LLP is eligible to act as an auditor in temis of section 1212 of the Companies Act 2006.

THE LONDON ORATORY CHARITY
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
Unrestricted
Funds
Restricted
Funds
Total Funds
2022
Total Funds
2021
Notes
Income from:
Donations and legacies:
Donations and gifts
Legacies
HMRC furlough grants
Charitable activities:
Oratory fees
Sales of Oratory magazine
Other trading activities
Oratory shop sales
Investments
817,918
180,963
162,649
708,200
980,567
889,163
864,563
62,863
12,733
91,227
4,783
91,227
4,783
64,049
4,503
34,108
154,770
34,108
213,105
23,351
199,378
58,335
Total Income
1,283,769
929,184
2,212,953
1,231,440
Expenditure on:
Raising funds:
Fundraising
Ti'ading
Investment management
Charitable activities
11,273
42,507
107,667
1,339,514
11,273
42,507
107,667
1,537,028
6,517
18,813
115,425
1,220,042
197,514
Total Expenditure
1,500,961
197,514
1,698,475
1,360,797
Net income/(expenditure) before gains on
investments
(217,197)
731,670
514,478
(129,357)
Net gains on investments
(1,408,049)
(501,798) (1,909,847)
1,395,679
Net movement in funds
(1,625,241)
229,872
(1,395,369)
1,266,322
Reconciliation of funds:
Funds brought forward l January 2022
13,087,985
4,960,215
18,048,200
16,781,878
Funds carried foThTard 31 December 2022
£11,462,744
£5,190,087
£16,652,831 £18,048,200
All transactions during the year were derived from continuing activities.
Comparative figures for the Statement of Financial Activities for year ended 31 December 2021 can be seen in note 20 to
these financial statements.
The notes on pages 14 to 27 forni part of these accounts.
10

THE LONDON ORATORY CHARITY
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER2022
2022
2021
Notes
FIXED ASSETS
Tangible fixed assets
Investments
43,255
16,160,493
117,668
17,284,729
16,203,748
17,402,397
CURRENT ASSETS
Stock
Debtors
Cash at bank and in hand
25,148
284,533
322,526
18,679
198,872
642,698
632,207
860,249
CREDITORS: amounts falling
due within one year
10
(183,124)
(214,446)
NET CURRENT ASSETS
449,083
645,803
TOTAL ASSETS LESS CURRENT
LIABILITIES/NET ASSETS
£16,652,831
£18,048,200
FUNDS
Restricted funds
11
5,190,087
4,960,215
Uni"esti'icted funds:
Designated funds
General funds
12
2,129
13,085,856
11,462,744
11,462,744
13,087,985
£16,652,831
£18,048,200
The charity only deficit for the year amounted to £1,388,241 (2021: surplus of £1,233,333).
3 1 (., o,J-(s &) ¢..
LUL2
The financial statements were approved and authorised for issue by the Board of Ti'ustees on
and were signed below on its behalf by:
The
everend Julian Large
Trustee
The notes on pages 14 to 27 forni p￿￿ of these accounts.

THE LONDON OII4TORY CHARITY
CHARITY BALANCE SHEET
AS AT 31 DECEMBER 2022
2022
2021
Notes
FIXED ASSETS
Tangible fixed assets
Investments
43,255
16,160,495
117,668
17,284,731
16,203,750
17,402,399
CURRENT ASSETS
Debtors
Cash at bank and in hand
286,026
303,809
208,755
609,489
589,835
818,244
CREDITORS: amounts falling
due within one year
10
(166,615)
(205,432)
NET CURRENT ASSETS
423,220
612,812
TOTAL ASSETS LESS CURRENT
LIABILITIES/NET ASSETS
£16,626,970
£18,015,211
FUNDS
Restricted funds
11
5,190,087
4,960,215
Unrestricted funds:
Designated funds
General funds
12
2,129
13,052,867
11,436,883
11,436,883
13,054,996
£16,626,970
£18,015,211
The financial statements were approved and authorised for issue by the Board of Trustees on
andw
re signed below on its behalf by:
3161 Qcj-bh e/
Th
Reveren.d Julian Large
Trustee
The notes on pages 14 to 27 form part of these accounts.
l2

THE LONDON ORATORY CHARITY
CONSOLIDATED STATEMENT OF CASH FLOWS
AS AT 31 DECEMBER 2022
2022
2021
Notes
Cash flows from operating activities:
Net cash generated by/(used in) operating activities
17
256,530
(183,286)
Cash flows from investing activities:
Dividends and interest from investments
Purchase of fixed assets
Proceeds from sale of investments
Purchase of investments
(Increase) in investment cash
213,105
(4,196)
6,806,204
(7,392,406)
(199,409)
199,378
(15,624)
4,225,405
(3,632,837)
(482,001)
Net cash (used in)/provided by investing activities
(576,702)
294,321
Change in cash and cash equivalents in the year
(320,172)
111,035
Cash and cash equivalents at the start of the year
18
642,698
531,663
Cash and cash equivalents at the end of the year
18
£322,526
£642,698
The notes on pages 14 to 27 fomi part of these accounts.
13

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared in accordance with the Statement of Recommended Practice for
Charities (SORP 2021) (Second Edition, effective l January 2019) and the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102).
The London Oratory Charity meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant
accounting policy notes.
b)
Basis of Consolidation
The consolidated accounts consolidate those of the charity and of its subsidiary undertaking up to 31
December 2022. 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 accounts on a going concern basis
Having considered the future plans of the Charity, the trustees confirm that they have no material
uncertainties about the charity's ability to continue as a going concern for the foreseeable future.
d)
Income recognition
The charity recognises income when all of the following criteria are met: the charity has entitlement to the
funds and any perfoi'mance conditions attached to the items of income have been met, it is probable that the
income will be received and the amount can be measured 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 finalised 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 conti.ol of the charity. If the legacy is in the
fonn of an asset other than cash or an asset listed on a recognised stock exchange, recognition is subject to
the value 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 chai'ity is aware of the granting of probate, and the criteria
foi" income I'ecognition have not been met, then the legacy is treated as a contingent asset and disclosed if
material.
Donations by means of collections or received in cash are recognised upon receipt of funds.
Interest on deposit funds held is included when receivable and the amount can be measured reliably.
Dividends are recognised once the dividend has been declared and notification has been I"eceived or dividend
is due. This is normally upon notification by the investment advisor of the dividend yield of the investment
portfolio.
HMRC furlough grants represent the total amount claimed from HM Revenue and Customs under the
Coi'onavirus Job Retention Scheme (CJRS). The income is accounted foi" in the period in which the salary
payments al'e made to fui"loughed staff.
14

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
ACCOUNTING POLICIES (continued)
Expenditure recognition
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 accounted for on an accruals basis under the following headings:
Costs of raising funds comprises fundraising costs incurred in seeking donations, grants and legacies;
investment management fees; costs of fundraising activities including the costs of goods sold, and their
associated support c￿StS. Fundraising costs do not includc the costs of disseminating infom]ation in support
of the charitable activities.
Expenditure on charitable activities includes the costs of operating the church and related activities and
includes all activities undertaken to further the purposes of the charity and their associated support costs.
Governance Lx)sts are those costs incurred in connection with the compliance with constitutional and statutory
requirements of the charity.
Suppoit cA)sts are allocated to charitable activities based on time spent in each area.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Tangible Fixed Assets
Ftxed assets are capitalised if their original cost of purchase exceeds £600.
Depreciation is provided on all tangible fixed assets capitalised, at rates calculated to write of the cost of
each asset evenly over its expected useful life, as follows:
Computer equipment
Fixtures, fittings and other equipment
Motor vehicles
3 years
5 years
4 years
The Charity had 2 voluntary aided church schools, one of which became an academy on l August 201 l. The
school properties (land and buildings) are vested in the name of the Charity. The London Oratory Charity
cannot take a unilateral decision to dispose of these properties. Disposal can only occur if the school
governors and the Secretary of State for Education decide that all or part of a school site is no longer required
foi. education. In most circumstances, whei'e a disposal occurs, the Secretary of State or the local authority
may be entitled to recoup grant. Although no rights of ownership vest in the school goveining body, most
other rights and obligations, such as for the maintenance and L"epair of the school and its facilities, are passed
to the Governoi's. The Trustees therefore consider that, for the purposes of these financial statements, the
nature of their ownei'ship is that of a custodianship and therefore these properties have not been capitalised.
Details of these properties are set out in the notes to the accounts.
g)
. Heritage assets
No value is attributed to heritage assets on the basis that information on cost or valuation of the assets is not
available and could not be obtained at reasonable cost. The age, variety and lack of comparable market data
would make any attempt at valuation extremely onerous and costly compared 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 2022
ACCOUNTING POLICIES (continued)
h)
Investments
Investments are a fomi of basic 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 shares in the trading subsidiary which are carried at cost. The Statement of Financial
Activities includes the net gains and losses arising on revaluation and disposals throughout the year.
Realised gains and losses on investments are calculated as the difference between sales pi'oceeds and their
opening carrying value or their purchase value if acquired subsequent to the first day of the financial year.
Unrealised gains and losses are calculated as the difference between the fair value at the year end and their
carrying value. Realised and unrealised investment gains and losses are combined in the Statement of
Financial Activities.
fi)
Fund Accounting
Unrestricted funds
Funds are available to spend on activities that further any of the purposes of the charity.
Restricted Funds
Restricted funds al'e those funds which are to be used in accordance with specific instructions imposed by
the donor or trust deed.
Designated Funds
Funds are unrestricted funds of the chai'ity which the trustees have decided at their discretion to set aside for
a specific purpose:
Halls Fund - for maintenance of St Wilfrid's Hall and St Joseph's Hall.
i)
Debtors
Debtoi's are I"ecognised at the settlement amount due after any trade discount offei'ed. Prepayments are valued
at the amount prepaid net of any trade dtscounts due.
k)
Cash at bank
Cash at bank and in hand includes bank accounts, cash and short term highly liquid investments with a short
maturity of three months oi" less from the date of acquisition 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
Ci'editoi's and provisions are recognised where the charity has a present obligation resulting from a past event
that will pi'obably result in the transfer of funds to a third party and the amount due to settle the obligation
can be measui'ed oi. estimated reliably. Creditoi's and provisions are normally recognised at their settlement
amount after allowing foi. any trade discounts duc.
16

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
ACCOUNTING POLICIES (continued)
Estimation uncertainty
In the 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 financial statements nor do any estimates or
assumptions made carry a significant risk of material adjustment in the next financial year.
Financial Instruments
The Charity only has basic financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value.
RAISING FUNDS
Total
2022
Total
2021
Fundraising
Card payment machine
Advertisements and appeals
Summei" Garden Party expenses
2,107
397
8,769
582
5,935
£11,273
£6,517
Trading
Oi'atoiy shop cost of sales
£42,507
£18,813
All expenditure in the above categories was allocated to unrestricted funds in both the current and prior year.
CHARITABLE ACTIVITIES 2022
Unrestricted
Funds
Restricted
Funds
Total
2022
Total
2021
Chui'ch expenses
Music costs
Prcmises costs
Premises - Major Woi'ks
Premises - Boiler Room depreciation
Premises- Schools
Community expenses
Novices
Social and pastoral
LOS donations
Religious education
Support costs (see below)
Governance (see note 4)
264,651
229,629
315,739
109,785
57,892
12,490
53,047
277,141
282,676
315,739
109,785
57,892
6,664
237,957
54,152
59,803
217
293
41,966
92,743
208,508
193,465
313,671
70,548
6,664
11
54,152
44,921
17,941
192,794
80,719
26,854
183
518
48,023
66,818
237,946
14,882
217
293
41,966
92,743
£1,365,743
£171285
£1,537,028
£1,220,042
17

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER2022
CHARITABLE ACTIVITIES 2021
Unrestrieted
Funds
Restricted
Funds
Total
2021
Church expenses
Music costs
Premises costs
Premises - Major Works
Premises - Schools
Community expenses
Novices
Social and pastoral
LOS donations
Religious education
Support costs (see below)
Governance (see note 4)
195,568
140,889
313,671
70,548
12,940
52,576
208,508
193,465
313,671
70,548
17,941
192,794
80,719
26,854
183
518
48,023
66,818
17,941
32
80,719
18,515
192,762
8,339
183
518
48,018
66,818
£1,037,314
£182,728
£1,220,042
2022
2021
SUPPORT COSTS CONSIST OF:
Printing, postage and stationery
Telephone and fax
Internet
Bank charges
Other
5,080
6,298
7,760
20,580
2,248
3,982
6,019
15,168
14,764
8,090
£41,966
£48,023
GOVERNANCE COSTS
2022
2021
Salaries
Auditors, remunei'ation:
Charity
Blemell House
Other fees payable to the auditor - corporation tax
Other costs
50,532
27,649
29,640
2,486
1,140
8,945
23,160
4,807
1,200
10,002
£92,743
£66,818
18

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS (eontinued)
FOR THE YEAR ENDED 31 DECEMBER 2022
TOTAL EXPENDITURE- 2022
Staff
Costs
Other
Costs
Total
2022
Total
2021
Governanee
Depreciation
Charitable activities
Raising funds
384,964
980,712
161,447
92,743
78,609
1,537,028
161,447
1,220,042
140,755
£384,964
£1,142,159
£92,743
£78,609
£1,698,475 £1,360,797
TOTAL EXPENDITURE- 2021
Staff
Costs
Other
Costs
Total
2021
Governance
Depreciation
Charitable activities
Raising funds
336,888
720,630
140,755
66,818
95,706
1,220,042
140,755
£336,888
£861,385
£66,818
£95,706
£1,360,797
Staff Costs
2022
2021
Wages and salaries
Social security costs
Pension costs
388,277
36,954
10,265
330,837
25,684
8,016
£435,496
£364,537
No employee earned £60,000 pa or more.
2022
2021
The average number of employees was:
16
15
The trustees constitute the key management personnel - see note 6 below.
TRANSACTIONS WITH TRUSTEES
As members of the Congregation, the Trustees, living expenses during thc year were boi.ne by the Charity but the
Trustees received no I'emuneration or other benefits in connection with their duties as Trustees during the year
(2021: Nil).
19

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
TANGIBLE FIXED ASSETS- GROUP AND CHARITY
Computers
and Other
Equipment
Fixtures and
Fittings
Motor
Vehicles
Total
COST
At l January 2022
Additions
26,124
549,946
4,194
14,039
590,109
4,196
At 31 December 2022
26,124
554,142
14,039
594,305
DEPRECIATION
At l January 2022
Charge for the year
25,559
565
432,843
78,044
14,039
472,441
78,609
At 31 December 2022
26,124
510,887
14,039
551,050
NET BOOK VALUE
(represented by Fixed Assets used for charitable purposes)
2022:
£43,255
£43,255
2021:
£565
£117,103
£117,668
No value for the property (Listed Building Status Grade II*), comprising The Oratory SW7 is reflected in the
financial statements. "fhe buildings wei'e el'ected between 1854 and 1884 with further additions up to 1911.
Historic cost data is not available and, in any event, the net book value, after charging normal l'ates of depreciation
would not be material. The property has an insurance value of £48.8m, and a replacement cost of £115m.
Any matei'ial improvement to the buildings will be capitalised and depi"eciated over the expected useful life.
Two schools are owned in the name of the London Oi'atory Charity:
The Oratoi'y Primary School, a voluntary aided school in the Royal Borough of Kensington and Chelsea.
The London Oratory School, an academy in the boi'ough of Hammersmith and Fulham.
The Trustees consider that the school properties have no capital value to the London Oratory Charity
Accounting Policy l (D. The school properties have an insurance value of £45.2m.
see
20

THE LONDON ORATORY CHARITY
NOTES TO THE ACCOUNTS (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
FIXED ASSET INVESTMENTS
Group
Charity
2022
2021
2022
2021
Market value at l January 2022
Less: Disposals
Add: Acquisitions at cost
Realised and unrealised (losses) and gains
16,588,962
(6,806,204)
7,392,406
(1,909,847)
15,785,851
(4,225,405)
3,632,837
1,395,679
16,588,964
(6,806,204)
7,392,406
(1,909,847)
15,785,853
(4,225,405)
3,632,837
1,395,679
Market value at 31 December 2022
15,265,317
16,588,962
15,265,319
16,588,964
Cash held for investment
895,176
695,767
895,176
695,767
£16,160,493
£17,284,729
£16,160,495
£17,284,731
Historical cost at 31 December 2022
£15,660,102
£13,607,508
£15,660,104
£13,607,510
Listed Investments:
Fixed interest
Equities and bonds
3,702,876
11,562,441
1,205,671
15,383,291
3,702,876
11,562,441
1,205,671
15,383,291
15,265,317
16,588,962
15,265,317
16,588,962
Unquoted Investment:
Blemell House Ltd
15,265,317
895,176
16,588,962
695,767
15,265,319
895,176
16,588,964
695,767
Cash held for investment
£16,160,493
£17,284,729
£16,160,495
£17,284,731
DEBTORS
Group
Charity
2022
2021
2022
2021
Other debtors
Amounts owed by gi'oup companies
284,533
198,872
272,984
13,042
195,711
13,044
£284,533
£198,872
£286,026
£208,755
21

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
10.
CREDITORS: amounts falling due
within one year
Group
Charity
2022
2021
2022
2021
Other creditors
Accruals and deferred income
Other taxes and social security
65,268
112,815
5,041
136,670
69,209
8,567
48,759
112,815
5,041
127,656
69,209
8,567
£183,124
£214,446
£166,615
£205,432
11.
RESTRICTED FUNDS- GROUP AND CHARITY 2022
Balance
l January
2022
Transfers/
Gains &
(Losses)
Balance
31 December
2022
Income
Expenditure
St Raphael, s Fund
Prefects Fund
Choii.
Oi'gan
Poor Fund
St Wilfrid's Statue
Brompton Baroque
Primary School Funds
Calvary Calving
Pettman scholai.ship
Church Lighting Fund
Oui. Lady's Flowers
374,389
26,705
2,832,951
13,363
28,761
1,977
4,556
167,956
5,443
1,425,210
72,634
6,270
82,241
417
733,984
79
45,602
(55,703)
(903)
(51,766)
(6,560)
(44,922)
(26,818)
(3,804)
(300,460)
374,109
22,415
3,214,709
6,882
29,441
1,981
4,565
171,734
5,443
1,270,695
73,783
15,330
28,290
(7,640)
(16,872)
16,859
149
21,550
(17,530)
(153,844)
(12,490)
£4,960,215
£929,184
£(197,514)
£(501,798)
£5,190,087
22

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
11.
RESTRICTED FUNDS- GROUP AND CHARITY 2021
Balance
l January
2021
Transfers/
Gains &
(Losses)
Balance
31 December
2021
Income
Expenditure
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
Our Lady's Flowers
313,134
24,081
2,714,322
16,170
8,845
1,977
4,556
164,243
5,443
1,365,394
72,627
855
120,951
356
67,522
(82,381)
(950)
(59,455)
(2,809)
(18,515)
22,685
3,218
110,562
374,389
26,705
2,832,951
13,363
28,761
1,977
4,556
167,956
5,443
1,425,210
72,634
6,270
38,431
8,435
(18,993)
14,271
20,731
(14,821)
53,906
18,355
(12,940)
£4,691,647
£274,790
£(210,864)
£204,642
£4,960,215
The funds al'e established l-or the following:
St Raphael's
Maintenance and education of Oratorian novices and students.
Prefect's
For the Brothel's of The Little Oratory.
Choii"
For the support of the Oi'atoiy Choir.
Organ
For major overhauls and maintenance of the Oratory pipe organs.
Poor Fund
For the relief of poverty.
St Wilfrid's Statue
Carving of a statue of St Wilfrid.
Brompton Baroque
For Baroque I'ecitals.
Primary School Funds
Parental contributions etc for the Oratory Primary School.
Calvary calving
For the Ca￿Ing and installation of a new calvary crucifix, statues, and mural.
The balance is to be used for improvements to lighting and floor repairs.
Organ Scholarship in memory of June Pettman.
Towai'ds church lighting.
For flowers at the Lady Altar
Pettman Scholarship
Church Lighting Fund
Oui. Lady's Flowei's
23

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
12. DESIGNATED FUNDS- GROUP AND CHARITY 2022
The income funds 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
2022
Balance
31 December
2022
Income
Expenditure
Transfers
Halls
2,129
22,904
(25,033)
£2,129
£22,904
£(25,033)
The funds are established for the following:
Halls
For the maintenance of St Wilfrid's Hall and St Joseph's Hall.
DESIGNATED FUNDS- GROUP AND CHARITY- 2021
The income funds 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
2021
Balance
31 December
2021
Income
Expenditure
Transfers
Halls
7,739
5,083
(10,693)
2,129
£7,739
£5,083
£(10,693)
£2,129
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS- GROUP- 2022
Total
Funds
2022
Unrestrieted
Funds
Restricted
Funds
Fund balances at 31 December 2022
are represented by:
Tangible Fixed Assets
Investments
Current assets
Creditors due within l year
43,255
11,321,536
271,916
(173,963)
43,255
16,160,493
632,207
(183,124)
4,838,957
360,291
(9,161)
£11,462,744
£5,190,087
£16,652,831
24

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS- GROUP- 2021
Total
Funds
2021
Unrestricted
Funds
Restricted
Funds
Fund balances at 31 December 2021
are represented by:
Tangible Fixed Assets
Investments
Current assets
Creditors due within l year
117,668
12,762,349
414,502
(206,534)
117,668
17,284,729
860,249
(214,446)
4,522,380
445,747
(7,912)
£13,087,985
£4,960,215
£18,048,200
14.
CONNECTED ORGANISATIONS
The London Oratory School, which became an academy on l August 2011 (previously a voluntary aided school)
in the Borough of Hammersmith and Fulham and the Oratory Primary School, a voluntary aided school in the
Royal Borough of Kensington and Chelsea, are connected.
15. TRADING SUBSIDIARY
The charity has a wholly owned trading subsidiary, Blemell House Limited (Company Registered Number:
7899744). Blemell House's principal activity is to carry out trading operations to support the London Oratory
Charity.
A summaiy of the trading results for the year for Blemell House Limited is shown below.
2022
2021
Turnover
Cost of sales
97,343
(44,339)
72,676
(21,053)
Gross profit
Administration expenses
Other incomc
53,004
(5,414)
51,623
(5,332)
427
Profit for the year before Gift Aid
£47,590
£46,718
Balance Sheet
2022
2022
Current assets
Less creditors falling due within one year
52,144
(29,552)
51,928
(22,208)
£22,592
£29,720
Represented by:
Share capital
Profit and loss account
22,590
29,718
£22,592
£29,720
25

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
16. HERITAGE ASSETS
No value is attributed to the heritage assets on the basis that information on cost or valuation of the assets is not
available and could not be obtained at reasonable cost. Heritage assets include plate, textiles, books, monuments
and statues contained within the Oratory. The assets are integral to the Charity's objective of advancing the Roman
Catholic religion. They all have very long lives and are worth preserving indefinitely. The trustees consider that it
would be prejudicial to the safe custody of these assets to disclose details of their value 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 of significant individual worth. These are used to adorn the
Oratory church and enrich the church's liturgies. Many of the paintings and statues 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
church services on various days throughout the liturgical year.
A register of plate and vestments is maintained. A full card index of books is maintained in the library and individual
scholars and researchers are granted access to the library if appropriate.
Heritage assets are maintained and conserved as far as possible. There is no policy to dispose of these assets.
17. RECONCILIATION OF NET INCOME TO NET CASH
FLOW USED IN OPERATING ACTIVITIES
2022
2021
Net income foi. the year (as per the Statement of Financial Activities)
(1,395,369)
1,266,322
Adjustments for:
Depi'eciation charges
Losses/(gains) on investments
Dividends and intei'est from investments
(Increase)/decrease in stock
(Increase) in debtoi's
(Decrease)/increase in creditors
78,609
1,909,847
(213,105)
(6,469)
(85,661)
(31,322)
95,706
(1,395,679)
(199,378)
1,595
(917)
49,065
Net cash generated by/(used in) operating activities
£256,530
£(183,286)
18. ANALYSIS OF CASH AND CASH EQUIVALENTS
2022
2021
Cash and bank and in hand
£322,526
£642,698
19. RELATED PARTIES
During the ye&., the Charity was gifted £54,718 (2021: £20,121) from profits of Blemell House Limited. At the
year-end, Blemell House Limited owed £13,042 (2021- £13,044) to the Charity).
Rev Rupert McHardy and Rev Julian Large, trustees of this charity, are trustees of W Faber Counselling.
£1,249 (2021: £1,249) was owed by W Faber Counselling at the year-end. There were no new transactions in the
yeat".
There wei'e no tiirther related party transactions requiring disclosure in either the current oi" prior year.
26

THE LONDON ORATORY CHARITY
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
20. STATEMENT OF FINANCIAL ACTIVITIES 2021
Unrestricted
Funds
Restricted
Funds
Total Funds
2021
Income from:
Donations and legacies:
Donations and gifts
Legacies
HMRC furlough grants
Charitable activities:
Oratory fees
Sales of Oratory magazine
Other trading activities
Oratory shop sales
Investments
668,491
51,863
12,733
196,072
I 1,000
864,563
62,863
12,733
64,049
4,503
64,049
4,503
23,351
131,660
23,351
199,378
67,718
Total Income
956,650
274,790
1,231,440
Expenditure on:
Raising funds:
Fundraising
Trading
Investment management
Charitable activities
6,517
18,813
87,289
1,037,314
6,517
18,813
115,425
1,220,042
28,136
182,728
Total Expenditure
1,149,933
210,864
1,360,797
Net (expenditure)/income before gains on
investments
(193,283)
63,926
(129,357)
Net gains on investments
1,191,037
204,642
1,395,679
Net movement in funds
997,754
268,568
1,266,322
Reconciliation of funds:
Funds brought foiward l January 2021
12,090,231
4,691,647
16,781,878
Funds carried forward 31 December 2021
£13,087,985
£4,960,215
£18,048,200
27