The Society of st. Augustine of Canterbury Report and Financial Statements Yur ended 30 September 2024 CoDtents Legal and rnin1straI1ve inffflnation Report of the Cout)¢il Report of th¢ Itwjependtnt Examiner Stsmenl of finallcial activiti¢5 Balance sh¢¢i Notes fonning part of th¢ fmancial Statements Pge Legal and adrninislr¥livt IDformtKJ• Correspotyd¢Dte address clo The Sretary 145b Ashley Gardcj Thirleby Road London SWIP IHN President His Grxe. the Dyke of Norfolk Vke Pr¢sideDts Mi¢hael Miltr)urn Mary Goodwin Council Mtmbtrs Vinceni Keaveny i ar8aret Burgess Richard Collyer-Hamlin John Di¢k Veronica Fulton Mary Goodwin Father Peter Harris Ben Holden Cliona Howell Claudia Jasper Geraldine Kay Priscilla Sharp CThalrM {ele¢d to council ott March 19, 2024) {re¢iT¢d from COUDciI NlaT¢h 19, 2024) {retir¢d frorn council on Marth 19, 2024) Ec£le5iasii¢al Adviser (rctired from council on Marth 19. 20241 M¢mb¢rship Se¢tary Secretary {reiiTed from ¢ouneil IM Mar¢h 19. 2024) PrIne11 Bnkers C. Hoarc & Co. 37 Fle¢t Streei London EC4P 4DQ IndeeThI Eiamintr Pder Seed FCA For and on b¢haJf of: McA)r8ale Acc(MJntsncy Ltd Chartrred A¢countanis tk)wn5VLCW House 141-143 Station Road East Oxted Surrey RH8 OQE
The Society of St. Augustine of Canterbury Report of the Council for the year ended 30 September 2024 The Council presents its report ¢ogether with the financial ststements of the kniety for the year ended 30 September 2024. The fjnancial statetnettts have been prepad in accordance with the a¢untIng policies set out on page 7 and comply with the Society's Rules at)d applicable law. Constitution and objects The Society. is govemed by Rules adopted at the ArUal General Meeting held on 21 May 2014 and is registered under the Charities Act 2011, number 249033. In deiemiThiTh8 the activiti¢5 of th¢ Society. the Council has had regard to the Charity Commissioner's guidance on public benefit. The obje¢ts of the Society are the promotion and advancement of the Roman Catholic religion itl ETrgland and Wales, including its prin¢ipal objective the Uiilisation of the income and capital resources of ihe Society to make donations to the Archdioc¢s¢ of Wesmiinstei irt aid of the expenditure required for the upkeep and maintenance of Archbishop's House, the rIdence and offlce of the Archbishop of We5ttninster. The capital resources of the &)ciety consEst of lal an unrestrided Main Fund and (bl the James Edward Platt Fund, a designated fund. the anllual Intome of which is to be applied as to a sum rtoi ¢xceeding £600 for the ptsrposes of the office of the Archbishop of Wtstmsnster and subj¢ thereio to appty the illCtsTn¢ of the said nd for the advancement of the Roman Catholac religion ill England and al¢S as the Archbishop may dir¢¢t. Organisation Under the Rules, the Society's business is managed by a Council that wnsists of least eight rnembers elected at a general meeting. The Tnembers of the Council are the tTUSttts of the Society'5 a5%ts. The Council appoint5 a ChaiTtn3n, such appointment beithg subjtCE to the appnival of the Archbishop of Westminstei. New members of the Council are sel¢cied with the objwtive of ensuring thaL ¥ all limes. there Thill be sufficient expertise and experience available to properly wjdertake the duiies and responsibilities invested in the Coun¢il. Council member5 who have served in the Y set Out OIL page l. New membe[5 are iTrducted into their rtsles through discussions with existing Covrtcil members- the Chair and the Secrelary play a key rol¢ in this, supported by other tllembers as appropriate. The Council met fomially on two occasions during the yvJr. in January 2024. and September 2024. Ther¢ wa$ 780kn attendance of Council members xi the mtttirkg5. Investment policy Durittg recent years the Coun¢il considered the most appropriate poli¢y for investing funds was to itivest in specialised unit trusts, designed for the charity sector. as this policy met its requirement to generate Ix)th income and tapital growth. The Coun¢il emplo)'s a sprfialisi investment manager, RathboDe Ini'estment Managernertt Limited, to the Society's inv¢5tsneni portfolio on a discretionary basis subjeei only to general overall guidelines agreed with ofYEceTS of the CouD¢il at the initiation of the arrdngemeDt. .Kfembers of the CouncÈl periodically rtyiew Rathbone's perfomiance in ordei to satisfy thetnselves the arratlgemettt is satisfactory. Distribution and reserves policy In deterniining the exient to which di5tribuiions of investm•)i inc4)me tllay be made, the Council adopts a Total Return policy lin accordance with the Charities Act 2011 aEJd the Charities (Total Retuml Regulations 20131 whereby it may considei distrIbtiTrg any amount of accvTnulated income and capitsl gains including such income and gairts arising from 1sf¢ membership sub5CllPtions atld legacies_ Only the original endowment of £203,595 that resulted in the establishmeni of the James Edw'ard Platt Fund is incapable of being distributed so this sum represents the red re5erv¢5 of the Societv artd the Council believes this amount is adequate to meet any possible fvture liability. The Council 15 enlirely free to detemiine the amouni or runds in excess of this reserve amount that Tn&y b¢ distributed. In the ¢urreni }'ear. tt has be¢Th the poli¢y to distribute an amount of the Society'5 income plus a small portion of the gaiD on the investmenL MembeT5hip AI 30 September 2024 wnembership totslled 389 {202i-393K of which 171were life members {2023 - 1761. During the year 9 new meTnbers joined th¢ Society (2023 - 11 }, none as life members {2023- 5). We were advised of the deaths of 10 members.
The Society of St. Augustine of Canterbury FinanciAI Results Membership subscriptions and don4t10 reteived Annual membership and life membership sub%riptJot)s received. remained at a 5iTnilar level to the prior year. During the year ended September 30. 2024, the Society did noi benefii from an), new legacie5. Investment Income nd KDvestrnettt PerfornJnte During the year the tncotne reiurn from inl'esiments wa5 2.92% and, when cotDbined with the capira] gain on investments, gave a 10.66•/o total retum for the ye4r. Contriblltions The Society has maintained the level of its ¢oDtribuiioDs to the Archbishop and to Archbishop's House at £39.735 {2023 £39,735). Future Pi&DS The Council ¢ort¢inu¢s to explore additional ways to generate incotne and ¢apitsl resources with the object of ensuring that re donatioDs to Ar¢hbishop"s House will be able increase in fuwre )'ear5. Statemellt of tn15tees' respoN5ibilities in respect of the *Ct0ttts Charity law requires the trnstees to pr¢pate financial siatements for each financial year which give a true and fair view of the state of affairs of the SLKiety and of its fJnancia] activitie5 for tha¢ year attd use United Kingdom Accounting Standards (United Kingdom Generally Accepted A¢couniing Prdctice). In preparing those financial sratements. the trustees are required to= Select 5Ultable acc4)uThtlTh8 liCleS and then apply them COnSLStently Make judgements atld estirnates art reasonable and PTudent," Obserye the methods and principle5 in the Accounting and Rew)rting by Charities Ststement of Recommended Practice applicable to charities piepating their fmancial statements in a¢¢ordance with the Finatlcial Reporttng Standard applicable io the United Kingdom and Republic of Ireland (FRS 102). State whether applicable Uthi Kingdom Accounting Stathdards have been followed, subj¢ci io any material departures disclosed and explailled in the financial statements- and Prepare the financial 5tatt¥n¢nts on the going concern basis unless it is inappropriate to psum¢ that the Society will continue its operation5. As the trustees of the So¢iety, the members of Council are r¢snsible foi keeping proper accounting records whi¢h disclose with reasonable accura¢y ai any time the financiat p)sition of the Society at that itme and to enable th¢m to ensure that any stsi¢m¢ni of account prepared by them complies with the regulations under section 132111 of the Charitits Act ?01 l. They are also responsible for safegllarding the assets of th¢ Society and hence for king reasonable si¢ps for the prevention and deieciion of fraud and other irregularities. srATEMEYT OF DISCLOSIIRE TO INDEPENDE.NT EK4MJNER la) So far as the membe[5 of Council are awar¢ there is Televallt itrfoTmation of which the charity's independent examiner is unaM7re, and (b) they have takth a]1 the steps that they oughi to have tsken as tsvslees in order to make themselves aware of any relevant infonnation aTLd tt) estsbli5h that the chariry-s indyndent exaTlliDer is aware of that infonnation. Approved by Council on and signed on its behalf by Vincent Keaveny, Chairnjan 2025
The Society of St. Augustine of Canterbury Independent Examiner's report to the Trustees of the Society of St. Augustine of Canterbury for the year ended 30 September 2024. I P)rt on the accounts of th¢ Society of St. Augustine of Canterbury for the year ended 30 September 2024. whi¢h OtnpTise the Statement of Financial Activitie5. Balance Sheei and related notes. The report is made solely to ihe charity's trustees as a body. in accordance with regulaiions made under Section 145151{bl of the Charities Act 2011. Nl) work ha5 been widertaken for no purpose other than to dTaw to the attention of the charity's tru5tee5 those matters which l atn required to include in an Independent Examiner's Report addr¢55ed to them. To the fullest exteni pennitted by law, I do not accept or assume any responsibility to any party other than the charity and the charity's trusiees as a body. for My examination work. foi this repor( or for the opinion5 1 have fornied. Responsibilities and basis of report As the charity'5 trusiees, you are responsible for the preparation of the a¢counts it) accordance with lh¢ quirements of the Charities A¢t 2011 {he A¢t-l. I report in re5pe¢t of my examination of the Tn]st's at£ounts carried out UTer seeiton 145 of the 2011 Act and in carrying out tny ¢xamirtalion. I have followed all the appli¢able Direction5 given by the Charity Commission under section I4515Xb) of the ACL Independent Examiner's Statement I have cornpleted m). examinatioll. I confirm that no material matters have tome to my attention in onneclion with the exatnitlation which gives m¢ cause to b¢li¢ve th in, any fflaterial respect.. the accounting retords were not kept in accordan¢e with section 130 of the Charities ACL or the a¢touThts did not accord with the arcowiiing rerdS,. or the accounts did tLOt ¢omply with ihe applicable requirements concerning the form and content of a¢collnts set out in the Charities {AoUnts and Reports) Regulations 21M>8 other than any requirement that the accounts give a'trne and fair. view which 15 not a mailer considered as part of an independent examinaiioTh. I have rto concerns and have come across no other rnatters in connection with the ex&tnination to hleh attention should be drawn in this r¢]x)rt ill order to enable a proper understsnding of the a¢counts to be reached. Sigrted........... Peter Seed FCA For and on behalf of .Moorgate Accollntatto. Ltd Chartered Acrountants Downsview House 141-143 Station Road E&st East Oxted Surrey RH8 OQE -2025
The Society of St. Augustine of Canterbury Statement of Financial Activilies incorporating a Statement of Recognised Gains and Losses For the year ended 30 September 2024 DtsigMAted JE Platt Totsl 2024 TotAI 2023 (restated) Main Fund Note5 ltttomt ttd endowmttsts from: Voluniar). incotnc Subseripiions and thrthon5 Legacies Receipts from charitable activities Investment income 12.520 12,520 30,718 6.492 6.492 3,105 Investhxent income 10260 10260 20,520 21,508 Bank interest 42 42 19 Total income Ib 29.314 IO260 39.574 55.350 Expenditure oll: Chlritsble attivities Contribuiions to.. Archbishop's House. Westminsier Archbishop of Westhxinsier 19,568 19.567 39,135 600 57,700 Costs of rAisiRg funds Annua] rew)rt and newsleller printin& posiag¢ and website Bank chg¢S Inwesirnent Manag¢m¢ni F¢¢ FundTaising rtception eX)seS 1.886 405 1,886 40) .328 1.868 3,613 405 1,200 2,4(Hl 1.868 Gov¢rnanre Costs AGM Exp¢nsts Independent Exajninws Fee 1.686 1.080 1.686 1.080 898 Totsl expettditre 27,157 20.831 47,988 66,816 Net11055Vincome for tb¢ yur before gAittslllosses1 investrnents 2.157 {10.5711 {8.414} (11,4661 Nei gain {losses} on inve5trrL¢nts 23.986 30,268 54,254 10,340 Net movements ID fuuds for tht ye 26.143 19.697 45,840 FuDd balances as at l Octob¢r21123 328,040 318.394 646,434 647,560 Fund balances s at 30 SePtetr 2024 354.183 338,091 692.274 646.434
The Society of SL Augustine of Canterbury Balance Sheet As at 3U Septemb¢r 2024 Uanstritted DesigMAttd JE Plxtt Tots12024 Totsl 21123 Nolis Fiicd assets Tangiblc Ass¢ts 340.943 360.213 701,156 624.71L CDrr¢llt assets Debt0 Tex recoverabk 2.984 Cash battk iti harvj 31.Y53 31.933 58.47 360.213 31.933 Creditors: falli 41ue Within e ye%r (18.691) (40,815} {39,7351 Net eUTrtDtxssetsl(li*bilitie5) 13,240 (22,122} {8,8821 21,725 Tr4el I$¥ J54,E83 338.091 646.434 The fbnog •f the Ck•rfty Dcsigr.atTh4 fupd5 Unycstriacd funds 33&091 338.091 3Y,183 318,394 328,040 354,183 T•tsl Cbarity 354.IK3 338.(1 69?274 646,434 Approved by the Council 2025 stgDed on its bch3Jf Vin¢¢nt Kea Chairman
The Society of St. Augustine of Canterbury Notes to the Accounts AectsuntiDg polities al Basis of ac£ouniing The accounts have been prepw¢d in wtth Fillatal R¢Tting sthnda FRS 102 applicable in itle Lnited Kingdotn atd The Chariues Aa arld follov the Tfxommendations in the Srat¢Jnent of Reeommtnded Prnctice, A¢¢oun16ng al Rcwrting bj Charities ISORP 2019). bl Incotn¢ Invesiment inrotne 3TKi rets)Trerable are iTKluded in tht Stsiement ol Fingnciaj Aciivities when the). beeome receivable. Legxi¢B are IDclud whert they Fttom¢ quantifJabl¢. All othu income is included when receiTred. cl Expenditur¢ Expenditure is included on an accnwls b&sis. dl Invesuntnts InTr¢siments are valued 21 market bid value the balance shea da and any wJr¢aiised gain or loss is taken to the Siaiemeni of Financial AaiTrities. ¢1 Funds li) Unrestricted fjjnds are subs¢TiJonS 8t other inrne genera for the objects of the Society without fiDther specitied pur]x)s¢ and are available &$ g¢n¢raJ funds. lil} Designated fijnds are amounts sd aside a1 de5igTMoJ for 5p¢oifit PUEP)ses by Council. liiil The de5ignat¢d fid is the James Edw-ard Plait FuEJd. the annual Éncome of whirh is to be applied to a sum not exceedinE £600 for the offi¢¢ of the ATchbjSp of Ilesttninsler and the rtmainder for th¢ advancement of the Roman Catholic r¢ligion in England in such manner as the Archbishop tllay dirwL In furthetattce of the Council's decision to adopt a Toial retum p)lic)' in rt[10n lo its investtnents. and in acrdanCe wilh th¢ p]oTrisiorts of The Chariiie5lTotal return) regulations 2013. the origi]] James Edward Platt Fund enth>wmtnt of £203.595 has been detem)ined as ihe Trusi for Invc51mcnL ihe remainder of the dtsiymted fimd b¢ing ai'ailable for distribution. livl In atc()rdance with ihe new ChawiTh SORP the wjreaiised gain on the investments held by the So¢iety has bee credited io the Accumulaied Reser4"ts or Unapplied Fund and subjea retsÉning the oriwtd eTh(k)Thtntnt in the JaJne5 Edward Pl( Fund these Re5¢Th¢5 are aTrailable fordistribution_ fj Cash flow staiemtni The So¢i¢ty" 15 entitle(L &% a small entih.. to the eKemrnions aTrailable in Financial RerMTrrting Srandard No I (Rtvised 1996} and therefore has Th)t wepared a cash flow 51atemeTrl. 2. Sub$triptioths Doatioas 2024 2023 Annual subscriDIiOJLS 6.125 5.97) Lile sub5criDIioi)s 800 Donation5 18.797 T&K recoverable on sub5crivtions and dffl&ioDs 6.260 5.148 12,385 30.718 3. Creditors 2024 2023 Bance of tontribuuons for the current vear to.. Archbishop'5 House. wtstMller Archbishop of Westmins¢¢T 39,135 39.135 600 Independent Examiner 1.080 40,815 39,735
The Society of St. Augustine of Canterbury 4. Tr•$tees' rnmMNera¢iDll #d expmxs None of mernbcrs of Cth11 7A'as Trwuner&d. 2024 2023 (Restated) 624.71 594.889 27.193 21.508 (5.lJ)2) {2,0261 Net gains 54254 10,340 AI 30 S•b¢r 2024. maTk¢i value 701,156 624,711 21124 2011 Aklysi5 of UK ]nlesents and urtii trus Mte¢ vxl#t C• Ct lue Mxin RathErf)ne Inv¢5tsneN Fund 340.943 256,822 286.189 191257 Jame5 Edivard pkntt Fid 360213 303.925 338.522 349.714 Tot1 701.156 51pO.747 624.711 540.971 The cost of the RathFx)ne Investment Fund in Fxxh th¢ Main F athl thc jam Edward Platt Fund rq)r¢sth the r¢aiised s'al of th¢ fO¢T investments h¢ld in ar¥J r¢ithi"esd inc4)me w'ithin the RathFxM Invesimeni Fund1¢$5 the CO ofinvesunents x)Id by Fund and tr8nsferrcd w the knicty 5 banL 6. F•mds ramE •d Trllifr bttwte f•Trds BAl&¢e 30 Stpt 2024 l O¢t 1•23 expelldtd A•d loss¢5 Umrestri¢ted fyndjs 53.3(Kl 354 183 Gtft comNbDenl 203J95 203.595 134,496 .Unappli¢d Fund 114.799 40.528 120.83 11 318 94 40528 20.831 338.091 7. Ultimate •(111% party Th¢ Socith. is uiiimatrly w¥Jer thc of the Couril.