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2022-06-30-accounts

REGISTERED CHARITY NUMBER: 247761

Report of the Trustees and

Audited Financial Statements for the Period 1 August 2021 to 30 June 2022

for

The Order of The Cross

Town & Forest Chartered Accountants & Statutory Auditors Cornerways House School Lane Ringwood Hampshire BH24 1LG

The Order of The Cross

Contents of the Financial Statements for the Period 1 August 2021 to 30 June 2022

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 9
Report of the Independent Auditors 10 to 11
Statement of Financial Activities 12
Balance Sheet 13
Notes to the Financial Statements 14 to 19
Detailed Statement of Financial Activities 20 to 21

The Order of The Cross

Reference and Administrative Details for the Period 1 August 2021 to 30 June 2022

TRUSTEES Mr Richard Ashley
Mrs Jacqueline Baillie (resigned 5.3.23)
Mr Bernard Fallon
Mrs Rayleen Finn
Mr Ian Heathcote
Mr Roger Score
Mrs Sarah Palmer
PRINCIPAL ADDRESS 27 Old Gloucester Street
London
WC1N 3AX
REGISTERED CHARITY 247761
NUMBER
AUDITORS Town & Forest
Chartered Accountants & Statutory Auditors
Cornerways House
School Lane
Ringwood
Hampshire
BH24 1LG
SOLICITORS Hewetts
55 - 57 London Street
Reading
Berkshire
RG1 4PS
INVESTMENT MANAGERS Brewin Dolphin Limited
4 King Edward Street
Oxford
OX1 4HS
CCLA Investment Management Ltd
COIF Charity Funds
80 Cheapside
London
EC2V 6DZ

Page 1

The Order of The Cross

Report of the Trustees for the Period 1 August 2021 to 30 June 2022

The trustees present their report with the financial statements of the charity for the period 1 August 2021 to 30 June 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

The Order of the Cross is an informal Christian Fellowship, dedicated to the Compassionate Life and the realisation of the Christ within. Since its foundation in 1904 it has promoted a pacifist and vegetarian way of life.

Our aim is to offer support and encouragement to all who would espouse the Aims and Ideals expressed through the writings of the Founder, the Reverend J Todd Ferrier.

OBJECTIVES AND ACTIVITIES

Objectives and Activities

The Order seeks to achieve the purpose through

a) the holding of worship services, meditations and meetings where the Founder's writings (referred to as "the Teachings") are read and studied in an elevated atmosphere conducive to spiritual aspiration and healing and b) the publication, sale and dissemination of the literature that contains the Teachings.

The Order organises and provides financial support for regular "Gatherings" of Members and Enquirers (interested non-members) at retreat centres in the UK, North America and Australia. Central to the programmes of the Gatherings are worship services and meetings to study the Teachings. The programmes include times of informal fellowship for individuals to share experiences. Some of our services and Gatherings are for attendance by families with children.

Worship services and meetings for the study of the Teachings are held in Members' homes in some localities in the United Kingdom, North America and Australia to which interested Enquirers are invited. There are weekly services and readings by conference call that are particularly valued by isolated Members and Enquirers. During lockdown due to the Covid-19 pandemic, these activities continued over the internet by means of videoconference facilities, and many of these regular virtual contacts have continued to flourish after the lifting of lockdown restrictions.

The Members in local Groups appoint representatives to Area Councils who meet annually as United Councils whose function is to support the spiritual culture of the Membership and to guide Enquirers in the Teachings and in the way of life of the Members.

The Order announces itself to the wider public by means of its website (orderofthecross.org) which is indicative of the nature of the Teachings, how contact may be made with the Order and how the Order's literature may be obtained.

The Trustees have considered the Commission's guidance on public benefit and, in particular, the specific guidance to charities for the advancement of religion. The Trustees seek to bring the Teachings to the attention of all those who may be drawn to their deeply spiritual message and to include in the religious and social activities of the Fellowship any who may wish to share in the personal development that such contact brings.

Page 2

The Order of The Cross

Report of the Trustees for the Period 1 August 2021 to 30 June 2022

ACHIEVEMENT AND PERFORMANCE

Membership and Enquirers

Membership of the Order is available to those who show a deeply held interest in the Teachings and a commitment to the way of life described therein which includes non-violence and a strict vegetarian diet. Admission to Membership of the Order is at the Trustees' discretion. Anyone seeking Membership applies in writing indicating why he or she wishes to become a Member. The application must be supported in writing by two Members. We are willing to welcome new Members regardless of their colour, ethnicity, race, disability, sexual orientation or religion.

The Trustees provide a point of contact for members of the public through our website (orderofthecross.org). It includes attractively arranged material that indicates the nature of our values, literature and activities. We continually seek to improve and refresh the website.

We refer to individuals, non-members, who are interested in the Teachings as "Enquirers". Contact is usually made initially by email. Where an Enquirer shows strong interest and looks for personal contact we may be able to arrange this with a local Group if there is one close to the Enquirer or by videocall or after an initial meeting we may invite the Enquirer to attend one of our Gatherings. We send such Enquirers a regular publication, "Spiritual Reflections", that includes articles relating to the Teachings and the programme of forthcoming Gatherings. This serves as a form of contact with those seeking to understand more of the life to which the Order calls.

All Members worldwide receive a regular Newsletter of articles and information. There is no membership fee. Members and Enquirers may make financial contributions on an entirely voluntary basis. UK Members are encouraged (if eligible) to contribute under the Gift Aid Scheme. The Order does not conduct any public fund-raising.

Only Members are invited to minister at worship services or to lead study meetings. Members sometimes minister at funerals and at blessings of babies and of marriages. Members train for this ministry initially through participating in the activities at local level, or at Gatherings, and then through leading services and study meetings in small groups and through informal guidance and feedback.

Offices held by Members are honorary. Members may claim travel and other incidental expenses necessary for the performance of their duties.

Groups and Councils

Where Members resident in a particular locality are sufficient in number, energy and experience to sustain a regular programme of worship and support for Enquirers they may be recognised as a "Group" or as a "Reading Circle".

The Groups and Reading Circles in the UK are divided into three Areas and, where Members are sufficiently numerous, a representative Area Council meets at least once a year to share the experiences of the work in the Area, to plan Area Gatherings of Members and Enquirers and to consider any other matters that may arise. Each of the three Areas sends one or more representatives for a similar annual sharing in a body known as the "United Councils" where there are also representatives sent from the Councils in North America and Australia.

A representative from each Area in the UK, North America Australia and New Zealand together with an executive comprising Chairman, Treasurer and Clerk meet twice during the year in a committee known as the United Councils Committee. Close liaison between the United Councils and the Trustees ensures that the views and needs of all Members of the Order are taken into account.

The structure of the Councils is such that everyone who is deeply interested in and involved with the Order of the Cross as a Member or Enquirer can have their needs recognised, their ideas considered and their spiritual life nourished. Members of the Councils pay particular attention to keeping in contact with frail, isolated and new Members in their Areas. They contact Enquirers who have expressed the desire to know more of the Order Teachings and the way of life of the Members.

The Groups, Reading Circles and Area Councils are essential to the carrying out of the Order's charitable objectives and manage their own funds largely independently of the Trustees. The United Councils Committee receives income from the Order's restricted funds. They receive donations from Members. The Councils draw as and when needed from the Order's unrestricted funds. The financial reporting of the United Councils Committee are consolidated into this Annual Report and Accounts.

Page 3

The Order of The Cross

Report of the Trustees for the Period 1 August 2021 to 30 June 2022

ACHIEVEMENT AND PERFORMANCE

Gatherings in the UK

Gatherings, where for a few days at a time Members and Enquirers, scattered geographically, come together at a retreat centre to share worship, study and fellowship, are central to the functioning of our community. Following the lifting of Covid-19 lockdown restrictions, the Order restarted meeting in person at Gatherings in the UK from July 2021. Our main Easter Gathering, 14 to 17 April 2022, was held at Sarum College, Salisbury, across the green from the magnificent Cathedral. This was attended by some 40 Members, including a few from North America and a few Enquirers. Once again this proved to be a most congenial venue; the excellent facilities, helpful staff and reasonable transport connections, provided an excellent environment for our Gathering. We expect to return to Sarum College at Easter 2023. There was a Members' Meeting at the Easter Gathering when consideration was given amongst other matters to the Order's finances, publications and website.

Apart from this principal gathering there are various other gatherings arranged by Groups and Area Councils. In the period 2021 - 2022 these have included in the UK:

o 27 July to 1 August 2021, the Families Gathering at Ammerdown Centre o 17 to 22 November 2021, Open Gathering at Glenthorne, Grasmere, Cumbria o 7 to 14 April, 2022, Gathering sharing dance, study and walking at Swanage, Dorset o 10 to 18 May 2022, Open Gathering at Glenthorne, Grasmere, Cumbria

These gatherings were opportunities for Enquirers to participate. No fees are charged for attendance at the Gatherings. Instead attendees are informed of the cost of accommodation and food and are invited to make a financial contribution.

Children and Young People

Although children are taught the way of life exemplified by our founder primarily in the home, special times of worship suitable for children are arranged by the Groups if they have young children in their area. The main event that catered specifically for children was:

Ammerdown Centre near Bath

A Family Week was held at the Ammerdown Centre near Bath from 27 July to 1 August 2021. This was once a most successful gathering open to Members and Enquirers and comprised times of worship and study of the teachings of the Order. The programme included music-making, art and crafts. The needs of the children were well catered for with a special programme of activities.

The Trustees have a policy for the protection of children that is brought to the attention of the organisers of gatherings and other activities. The Trustees regularly review their Safeguarding Policy and Procedures for children and vulnerable individuals.

Page 4

The Order of The Cross

Report of the Trustees for the Period 1 August 2021 to 30 June 2022

ACHIEVEMENT AND PERFORMANCE The Order's Work in North America

Members are spread across three regions; East, Central and West this includes two members and two enquirers in Canada. Many of the members meet to share readings on phone each Sunday on the Communal Sharing Circle and others join a number of different zoom reading circles. There is a regular meeting of members and friends in SW Florida on Monday evenings.

The North American Area has a Clerk and a Treasurer who retired this period and this office has passed to another member. The office of United Councils Clerk has now been filled by a member from Florida.

American members met in Council at a gathering at the Ojai Retreat Centre in California which took place between 17 - 25 September. 17 people attended this gathering including 2 American enquirers, 3 members from the UK of whom 2 were Trustees.

Australia and New Zealand

During the last period gatherings and study retreats have taken place in Western Australia, one in September 2021, one in March 2022 and one in May 2022. Several regular Zoom meetings have been held and are attended by a number of members across Australia.

The Charitable Company that has been set up to establish the legal status of the Order of the Cross in Australia and manage the finances, has had a change of Chairman and Treasurer. This has been brought about by the retirement of the previous Chairman and Treasurer.

International Conference Calls

The sharing of services and meetings by means of conference calls was started by members in North America several years ago and now forms an international "virtual" community involving also members in Europe, Australia and New Zealand. This is known as the Communal Sharing Circle and provides for those members and enquirers worldwide who wish to take part in a weekly service or reading of the Teachings. This initiative is particularly appreciated by isolated Members who have no local group.

Publications

Our main stock of printed books is maintained at a self-storage facility in Gloucestershire. This is close to, and accessible to, our Literature Secretary who responds to requests for copies of the books and sends them by post. We also have Literature Secretaries based in North America and Australia who keep stocks of books for distribution in their part of the world.

Whenever the stock of any book becomes low it is reprinted to replenish the stock. Six titles were reprinted and made available in 2021.

We are in the process of reprinting our Reading Companion title, a useful reference book for those studying the writings of Our Founder. It is expected to be published in early 2023.

We continue to apply the new pricing policy introduced in 2021 and have extended it to non-members. Members and non-members can obtain any of our publications free of charge, including postage and packing if ordered from one of our Literature Secretaries. A voluntary contribution is encouraged supported by a price guide.

Our books can still be purchased in the usual way by anyone from a range of public suppliers at commercial recommended retail prices.

Guaranteed authentic versions of our printed books are available worldwide from Gazelle via our website. Our printed books continue to be available from Amazon and Alibri and other distributers, but authenticity cannot be guaranteed. The placement of our main titles into retail outlets and Gazelle by our Agency, Four Corners continues.

PDF versions of five of our booklets continue to be available, free of charge, for download from our website.

Page 5

The Order of The Cross

Report of the Trustees for the Period 1 August 2021 to 30 June 2022

ACHIEVEMENT AND PERFORMANCE

We have six titles published as eBooks, available from most on-line bookstores.

Periodicals

Although based in the United Kingdom the Order is a fellowship of like minded individuals dispersed around the globe, some in locations isolated from the main centres of activity. The periodicals produced by the Order are therefore central to maintaining the communication links which unify the Order as a fellowship. There are four periodicals:

1. Members' Newsletter

The Members' Newsletter is the principal periodical issued quarterly in an A5 full colour booklet format. The Newsletter continues to be distributed to every Member around the world, some of whom receive it electronically at their request. It always opens with a quotation from the Teachings and provides details of Order events around the world; notification and the means of application are provided before events and reports are published after events. The Newsletter is a forum for Members to contribute articles which reflect upon the Teachings and their relevance to contemporary living and the arts, and for Members to share their creative gifts, especially in the writing of poetry and in the visual arts, including colour photography.

2. American Newsletter

In America the Members have continued to produce great newsletters with informative and inspiring articles directed mainly to American Members and Enquirers though they are sent all over the world.

3. Australian Newsletter

Newsletters serve to link all Australian and New Zealand members and enquirers. These are sent out quarterly.

4. Spiritual Reflections

The periodical Spiritual Reflections is sent to interested non members and Enquirers. In parallel with the Members' Newsletter, four issues a year are produced. It opens with the same quotation from the Teachings as the Members' Newsletter and provides details of the Order events around the world where seekers and friends are encouraged to attend; notification and the means of application are provided before such events and reports are published after events.

Items and articles from the Members' Newsletter are included in Spiritual Reflections that are of interest to this wider readership, including colour features. Comment and interpretation is provided to introduce the extracts from the teachings and make them accessible to newcomers.

General Data Protection Regulation (GDPR)

In May 2018, in compliance with GDPR, the Trustees sought formal written confirmation from all Members that they wish to continue to have their contact details held by the Trustees for contact by other members for pastoral reasons, and to receive the Members' Newsletter. The Trustees sought similar written confirmation from Enquirers to receive the Spiritual Reflections. Virtually all Members and a majority of Enquirers affirmed their wish to continue to have their contact details held.

Website

The Order continues to run a website and it has become an important facility to communicate with potential Enquirers and with Members. It has enabled announcements of gatherings and meetings by videoconference plus giving Enquirers a means of ordering books. Work continues on the development of the website, and it is hoped in the next year a refreshed website can be brought into use. It is recognised that with few Members having the skills to manage websites, the refreshed website will need to be made simple to update and the possibility of contracting out the day to day running will be investigated.

Page 6

The Order of The Cross

Report of the Trustees for the Period 1 August 2021 to 30 June 2022

ACHIEVEMENT AND PERFORMANCE

Premises

The Order owned premises in London used primarily for the provision of public worship services until 2012 when the property was sold. After consultation with the Order's Membership and a working group set up to explore the possibility of new premises, the Trustees concluded that due to the geographical dispersion of the active members and the limitations in the practical support that they can give, the interests of the membership and the work of the Order were best served if, for the time being, the Order did not acquire premises. This has released resources so that Members can give greater support to their local areas and focus on a rich spiritual programme of meetings and gatherings, without the distraction of managing human and physical resources associated with property ownership.

The Order's literature stock and any essential artefacts used for Gatherings are held in conveniently located secure self-storage. Trustee meetings in person took place at The Abbey, Sutton Courtenay. Rooms are hired when needed for meetings for other purposes. Artwork and a few special furnishings that could be used for new premises are in long term storage.

Based on experience since 2012 the Order has continued to be satisfactorily administered without the need for a headquarters property.

FINANCIAL REVIEW

Financial Review

The major part of our income is from investments and deposits. Particular attention is given to investing ethically, consistent as far as possible with the Order's Aims and Ideals. We adopt a moderate degree of risk in our investment policy with a balance between income and capital growth. Approximately 10% of our advised investments are in fixed interest stocks and bonds and the remainder are mainly in equities. The major part of our equity and bond holdings are in ethically guided collective funds. Much of the remainder of our invested funds are in directly held UK shares selected from a list supplied by EIRIS (Ethical Investment Research and Information Service) based on our ethical criteria. During the period we withdrew £350,000 from deposit to invest in a separate portfolio of companies whose products and services benefit the environment. The selection of collective and listed investments is advised by our investment manager, Brewin Dolphin. 8% of our total funds are held in the CCLA Property Fund. 1.5% of our total funds are held in a high yield bond issued on behalf of a registered housing charity. Subject to prudent limits, our deposits are held with banks that have ethical policies and with building societies.

Following the sale of our London Headquarters in 2012 we have managed very well without the need to own premises. Due to declining membership we no longer have sufficient members in any one location to support central premises, making use of retreat centres to bring our members together and renting storage facilities for altars and other items that we use for worship. Instead the money from the property sale has been invested and put into longer term deposits to provide income in support of our work, though this should not limit our scope to purchase property should the need arise in the future.

Major Risks

The possible risks associated with the Order's activities are reviewed regularly by the Trustees and where necessary addressed proportionately.

Review of the Accounts (1 August 2021 to 30 June 2022)

The following comments are intended to indicate the main reasons for significant year-on-year changes to income and expenditure shown in the Statement of Financial Activities included with this Report.

Total income was reduced compared with the previous year, mainly due to the reduction in interest from deposits. The trend of reducing deposit interest rates has now reversed. Financial contributions from the membership were much reduced and this is thought to be due to the cost of living crisis.

Resources expended on most items were much higher compared with the previous year because the end of Covid-19 restrictions permitted the resumption of in person meetings and Gatherings. There was an extraordinary item of expenditure in the previous year that pushed the total for that year to a higher than usual level and was due to the substantial donation to The Abbey, Sutton Courtenay. Also the expenditure on the reprint of publications in the previous year was not repeated.

Page 7

The Order of The Cross

Report of the Trustees for the Period 1 August 2021 to 30 June 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Charity constitution

The Order is administered by a Council of Trustees who have ultimate responsibility for carrying out the work of the Order and for dealing with its finances. The governing document of the Order is the Declaration of Trust drawn up by the Trustees of the Order in August 1944. This document incorporates a Letter concerning the Future Administration of the Order, written by the Founder in 1942. The charitable purposes of the Order of the Cross are set out in a Supplemental Trust Deed executed in 1972 prior to registration with the Charity Commission.

The Schedule to the Supplemental Trust Deed reads:

"The primary purposes of the Order are as follows:

(1) The advancement of the Christian Religion in accordance with the Founder's vision and interpretation

(2) The holding of regular Services of Public Worship

(3) The giving of instruction in the Christian Religion as interpreted by the Founder to the young and in furtherance of the aforesaid primary purposes:

(i) The practice of Christian healing by spiritual means

(ii) The provision of facilities for and the promotion of religious conferences and retreats

(iii) The publication of the Works of the Founder and other books and periodicals descriptive of the Work of the Order

(iv) The training of members to act as ministrants for the Order in public worship and in spiritual healing."

Overseas, The Order of the Cross USA is a Registered Corporation which attends to financial and legal matters concerning the Order in the USA and works in close cooperation with the Trustees. In Australia our Australia and New Zealand Area Committee went through a legal process of incorporation becoming a formally recognised Charity and Non Profit known as Australian Council of The Order of the Cross Ltd. This provides our organising committee in Australia with certain financial and legal safeguards.

Recruitment and appointment of new trustees

The Founder's Letter concerning the Future Administration of the Order stipulates that the number of Trustees continues to be nine. When a vacancy occurs (normally as the result of retirement) the continuing Trustees, who are all Members of the Order of the Cross, appoint another representative Member to fill the vacancy. The current number of Trustees has reduced to six. The contraction of the membership and scale of activities in recent years have led us to the view that six Trustees are sufficient to encompass the Order's administration. We take the view that our governing document allows us the flexibility to take this pragmatic view of the number of Trustees who may be appointed.

Responsibilities for the various aspects of the work and administration of the Order are assigned to individual Trustees. The Trustees keep in touch frequently, and up until early 2020 met quarterly for working weekends at a retreat centre to share consideration of developments and plans. A time of prayer and meditation is an integral part of every Trustee meeting. These weekends provide valuable opportunities for extended consideration of the Order's work. Since March 2020 the Trustees have met every month or two by videoconference and occasionally in person.

The names of the current Council of Trustees are listed at the start of this report. There had been no change since April 2020, except that at the time of writing one of the Trustees has just passed.

Page 8

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Report of the Independent Auditors to the Trustees of The Order of The Cross

Opinion

We have audited the financial statements of The Order of The Cross (the 'charity') for the period ended 30 June 2022 which comprise the Statement of Financial Activities, the Balance Sheet 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis for opinion

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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 performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period 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 described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form 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 information 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required 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 respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 10

Report of the Independent Auditors to the Trustees of The Order of The Cross

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to the Charities Act 2011 and FRS 102.

We assessed the risks of material misstatement in respect of fraud as follows: we made full enquiries with management and those charged with governance. As part of our fraud discussions, we discussed particular areas we believed to be susceptible to misstatement. Also, during our audit, we paid particular attention to looking for any related party transactions, however there were no related party transactions in this entity.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report 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 and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Town & Forest Chartered Accountants & Statutory Auditors Cornerways House School Lane Ringwood Hampshire BH24 1LG

28 April 2023 Date: .............................................

Zara Dunster FCA (Senior Statutory Auditor)

Page 11

The Order of The Cross

Statement of Financial Activities for the Period 1 August 2021 to 30 June 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Activities for generating funds
2
Investment income
3
Total
EXPENDITURE ON
Costs of raising funds
Charitable activities
Other
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
Transfers between funds
10
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
3,813
2,571
150,580
156,964
238
186,018
74,435
260,691
(716,826)
(820,553)
240
(820,313)
12,289,213
11,468,900		 Restricted
funds
£
-
-
746
746
120
1,500
-
1,620
(3,467)
(4,341)
(240)
(4,581)
58,287
53,706		 Period
1.8.21
to
30.6.22
Total
funds
£
3,813
2,571
151,326
157,710
358
187,518
74,435
262,311
(720,293)
(824,894)
-
(824,894)
12,347,500
11,522,606		 Year Ended
31.7.21
Total
funds
£
3,522
3,901
171,540
178,963
19,136
238,518
60,282
317,936
1,322,302
1,183,329
-
1,183,329
11,164,171
12,347,500

The notes form part of these financial statements

Page 12

30.6.22 3E.7.21 finds FIXED Assrrs Tan8ible &wts 6.645,171 4,417 7,059.535 51446 6.697.617 6,648,880 52.446 6,701 J26 7.063,952 Stocks Debkn C&th at bank 2.112 104.925 4.718,053 2.112 106,185 4,718.053 2.160 37.514 5261702 1260 4,825.OS 1.260 4,826,350 5 JIY2J76 CREDTfoRS Amounts f￿1]ng due within on¢year (5.070) (5.070) (18.828) NET CURRENT ￿ETs 4.820,020 1,260 4.821.280 5383.548 TOTAL A&SEtS CURRENT 11,468,SY)O 53.706 11,522. 11347.SIKJ NET ASSEIS I1.468,￿￿> 53,7( 11.522.6)6 11347.5 10 Unrestricted fun(b I1.468,￿￿j 53.7( 12289.213 58287 11.522. 11347,500 The financ￿1 5tat¢mwts were approved by th¢ Board of Tntstees and authiis&J for i& . #nd wrre s]￿ed on its behalf by". Ber Score. TnLqtee Pw13

The Order of The Cross

Notes to the Financial Statements

for the Period 1 August 2021 to 30 June 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

Voluntary Income

Legacies are accounted for in the period in which the legacy is received or if, before receipt, there is sufficient evidence to provide the necessary certainty that the legacy will be received and the value can be measured with sufficient reliability.

No amounts are included in the financial statements for services donated by volunteers.

Donations are recognised once the charity has entitlement to the resources, it is probable that the resources will be received and the monetary value of incoming resources can be measured reliability.

Activities in furtherance of charity's objects Income is accounted for on a accruals basis.

Activities for generating funds Income is accounted for on an accruals basis.

Investment Income

Investment Income is included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Other Income

All other income is accounted for on a accruals basis.

Expenditure

Resources expended are included in the statement of financial activities on an accruals basis.

Due to the nature of the charity's activities, the distinction between administration and charitable activities cannot be precisely measured because much of the work undertaken by the members is directly related to the various charitable and welfare activities.

For accounting purposes, expenditure is allocated as follows:

Charitable activities

All direct expenditure is in respect of promoting the aims of the charity including, the newsletter and various publications and subsidies and donations to other groups.

Governance costs

All other expenditure not directly allocated above including financial expenses and professional expenses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 15% on reducing balance Computer equipment - 25% on reducing balance

continued...

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Notes to the Financial Statements - continued for the Period 1 August 2021 to 30 June 2022

1. ACCOUNTING POLICIES - continued

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is based on the cost of purchase on a first in first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Funds held by the charity are either:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for a particular restricted purpose.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Provisions and accruals

Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated. Provisions are not recognised for future operating losses.

Investments

Investments are included in the financial statements at market value. Movements in market value are recognised in the statement of financial activities as unrealised gains or losses.

2. ACTIVITIES FOR GENERATING FUNDS

ACTIVITIES FOR GENERATING FUNDS
Period
1.8.21
to Year Ended
30.6.22 31.7.21
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Accommodation 2,475 - 2,475 3,610
Publications and literature 96 - 96 291
2,571 - 2,571 3,901

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Notes to the Financial Statements - continued for the Period 1 August 2021 to 30 June 2022

3. INVESTMENT INCOME

INVESTMENT INCOME
Unrestricted
funds
£
UK Listed investments
115,052
Non Listed investments
359
Interest receivable
35,169
150,580		 Restricted
funds
£
746
-
-
746		 Period
1.8.21
to
Year Ended
30.6.22
31.7.21
Total
Total
funds
funds
£
£
115,798
111,955
359
1,381
35,169
58,204
151,326
171,540
171,540

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 30 June 2022 nor for the year ended 31 July 2021.

Trustees' expenses

During the period Trustees and United Councils Committee were reimbursed travel and other expenses of £12,701 (2021 - £14,868).

5. TANGIBLE FIXED ASSETS

Plant and Computer
machinery equipment Totals
£ £ £
COST
At 1 August 2021 and 30 June 2022 5,805 2,478 8,283
DEPRECIATION
At 1 August 2021 2,482 1,384 3,866
Charge for year 457 251 708
At 30 June 2022 2,939 1,635 4,574
NET BOOK VALUE
At 30 June 2022 2,866 843 3,709
At 31 July 2021 3,323 1,094 4,417

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The Order of The Cross

Notes to the Financial Statements - continued for the Period 1 August 2021 to 30 June 2022

6. FIXED ASSET INVESTMENTS

Listed
investments
£
MARKET VALUE
At 1 August 2021
7,000,786
Additions
540,097
Disposals
(181,722)
Revaluations
(723,566)
At 30 June 2022
6,635,595
NET BOOK VALUE
At 30 June 2022
6,635,595
At 31 July 2021
7,000,786
There were no investment assets outside the UK.
Cost or valuation at 30 June 2022 is represented by:
Listed
investments
£
Valuation in 2022
6,635,595
7.
STOCKS
Stocks
8.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Held by Brewin Dolphin Ltd
Held by Canaccord Genuity
Wealth Managment
Other debtors
Income tax recoverable
Prepayments		 Unlisted
investments
£
58,749
-
-
3,273
62,022
62,022
58,749
Unlisted
investments
£
62,022
30.6.22
£
2,112
30.6.22
£
79,426
1,607
20,539
75
4,538
106,185		 Totals
£
7,059,535
540,097
(181,722)
(720,293)
6,697,617
6,697,617
7,059,535
Totals
£
6,697,617
31.7.21
£
2,160
31.7.21
£
11,214
1,782
20,660
92
3,766
37,514

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Notes to the Financial Statements - continued for the Period 1 August 2021 to 30 June 2022

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors
10.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS
Net movement in funds, included in the above a
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS		 At 1.8.21
£
12,289,213
58,287
12,347,500
re as follows:
Incoming
resources
£
156,964
746
157,710
At 1.8.20
£
11,111,134
53,037
11,164,171

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Notes to the Financial Statements - continued for the Period 1 August 2021 to 30 June 2022

10. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS		 Incoming
resources
£
178,188
775
178,963		 Resources
expended
£
(316,316)
(1,620)
(317,936)		 Gains and
losses
£
1,315,967
6,335
1,322,302		 Movement
in funds
£
1,177,839
5,490
1,183,329

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the period ended 30 June 2022.

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The Order of The Cross

Detailed Statement of Financial Activities for the Period 1 August 2021 to 30 June 2022

for the Period 1 August 2021 to 30 June 2022
Period
1.8.21
to Year En ded
30.6.22 31.7.21
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 3,250 824
Offertory 563 -
Legacies - 2,698
3,813 3,522
Activities for generating funds
Accommodation 2,475 3,610
Publications and literature 96 291
2,571 3,901
Investment income
UK Listed investments 115,798 111,955
Non Listed investments 359 1,381
Interest receivable 35,169 58,204
151,326 171,540
Total incoming resources 157,710 178,963
EXPENDITURE
Other trading activities
Publications and literature 358 19,136
Charitable activities
Gatherings 108,979 14,983
Worship facilities 1,233 (2,876)
Travel subsidies 29,053 (300)
Donations to Order of the Cross USA 22,628 -
Donations to Order of the Cross Australia 15,364 14,331
Newsletter, website and announcements 10,261 12,380
Donation to The Abbey, Sutton - 200,000
187,518 238,518
Other
Storage costs 12,855 12,567
Plant and machinery 457 586
Computer equipment 251 365
Loss on sale of tangible fixed assets - 78
13,563 13,596

This page does not form part of the statutory financial statements

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The Order of The Cross

Detailed Statement of Financial Activities for the Period 1 August 2021 to 30 June 2022

Period
1.8.21
to Year En ded
30.6.22 31.7.21
£ £
Support costs
Management
Telephone 1,694 1,466
Printing, postage and stationery 6,272 2,681
Sundries 364 2,216
Trustees meetings 2,968 -
Trustees travel and telephone 15,556 259
Professional charges 28,462 34,790
Auditors' remuneration 5,414 4,889
60,730 46,301
Finance
Bank charges 142 385
Total resources expended 262,311 317,936
Net expenditure before gains and losses (104,601) (138,973)
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments (720,293) 1,322,302
Net (expenditure)/income (824,894) 1,183,329

This page does not form part of the statutory financial statements

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