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2022-09-30-accounts

ANNUAL REPORT AND ACCOUNTS

30 SEPTEMBER 2022

THE CONFERENCE OF RELIGIOUS IN ENGLAND AND WALES

Charity Registration Number 277024

Contents

Reports

Reference and administrative information 1 Reference and administrative information 1
Report of the Executive Committee 2
Independent auditor’s report 15
Accounts
Statement of financial activities 200
Balance sheet 21
Principal accounting policies 22
Notes to the accounts 26

The Conference of Religious in England and Wales

Reference and administrative information Year to 30 September 2022

Executive Committee Fr Paul Smyth CMF (President)re-elected Oct 2021
Sr Frances Orchard CJ (Vice President)stepped down Oct 2021
Sr Sue Berry CSF (Anglican Associate Member)elected Sep 2017
Sr Bernadette Boland IBVM_stepped down Oct 2021_
Sr Philomena Bowers RSM_stepped down Oct 2021_
Sr Sarah Dobson CJ_elected Oct 2021_
Sr Margaret Donovan HC_elected May 2019_
Sr Ellen Flynn DC_elected Vice President Oct 2021_
Sr Catherine Lloyd RSCJ_elected Oct 2021_
Fr Robert Marsh OSA_re-elected Oct 2021_
Sr Monica Matthews SHJC_appointed Oct 2019_
Sr Anne Morris DHS_elected Oct 2021_
Rev Kenneth Okoli CSSP_stepped down Oct 2021_
Fr Richard Reid CSsR_elected Oct 2021_
General Secretary Valerie Nazareth (until 31 December 2021)
Nicholas Witherick (from 1 January 2022)
Valerie Nazareth (part time from 24 February 2022 to18 August
2022)
Nalini Nathan (from 19 August 2022)
Principal office St Philomena’s
70-71 Euston Square
London
NW1 1DJ
Auditor Buzzacott LLP
130 Wood Street
London
EC2V 6DL
Investment manager CCLA Investment Management Limited
Senator House
85 Queen Victoria Street
London
EC4V 4ET
Banker The Royal Bank of Scotland plc
48 Haymarket
London
SW1Y 4SE
Solicitors Stone King LLP
Upper Borough Court
Upper Borough Walls
Bath
BA1 1RG

The Conference of Religious in England and Wales

1

Report of the Executive Committee Year to 30 September 2022

The members of the Executive Committee (ie the trustees) of the Conference of Religious (CoR) present their report together with the audited financial statements of the charity for the year ended 30 September 2022.

The financial statements have been prepared in accordance with the accounting policies set out on pages 22 to 25 of the attached accounts and comply with the charity’s trust deed, the Charities Act 2011 and 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).

INTRODUCTION

The Conference of Religious (CoR) is a small charity, with around 156 members. Its formal membership consists of both the female and male Major Superiors of each institute and Superiors General in the Catholic Church (or their nominees) who work in England or Wales. Associate membership is offered to the superiors of Anglican Communities (since 1992) and to all Contemplative Superiors in England and Wales (since 2000).

OBJECTIVES AND ACTIVITIES

The object of the charity is to promote the welfare of apostolic institutes of Religious in the Catholic Church in England and Wales, while respecting the autonomy, nature and spirit of each other. This includes:

Vision Statement of the Conference of Religious

The Conference of Religious seeks to be a dynamic and proactive presence in the Church and the world today.

Mission statement of the Conference of Religious

The Mission of CoR is to:

The Conference of Religious in England and Wales

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Report of the Executive Committee Year to 30 September 2022

OBJECTIVES AND ACTIVITIES (continued)

Our Values

All our activities are inspired by Gospel Values.

The hallmarks of CoR are:

Our Aims and Objectives

To create a Prophetic Voice that gives witness to the values of the Gospel

To generate and participate in Networks that promote Collaboration

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Report of the Executive Committee Year to 30 September 2022

OBJECTIVES AND ACTIVITIES (continued)

Our Aims and Objectives (continued)

To serve and support Religious in England and Wales

The charity pursues these objectives by operating through its Executive Committee and other committees and groups drawn from the expertise of the membership and professionals and coordinated through the Secretariat led by the General Secretary. The Secretariat disseminates information, organises conferences and meetings and maintains links with Religious and other bodies that have similar interests.

Public benefit

CoR exists to support and promote the work of Religious in England and Wales. The members of CoR are involved through their ministry in a wide range of activities including: education, pastoral support, healthcare, working with refugees and victims of modern-day slavery, chaplaincy and counselling, which are all of direct benefit to the public.

By providing the opportunity for collaboration and undertaking the other activities on behalf of its members that are outlined in this report, CoR assists in the provision of the public benefit, by our member congregations.

When setting the objectives and planning the work for the year and future activities, the members of the Executive Committee have given careful consideration to the Charity Commission’s general guidance on public benefit.

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Report of the Executive Committee Year to 30 September 2022

ACTIVITIES AND PERFORMANCE

The Secretariat

The Secretariat is comprised of the General Secretary, the Communications and Development Lead, the Administrative Coordinator, and the Safeguarding Adviser. The restrictions resulting from the pandemic were ongoing for much of the year but have had a limited impact. We have spent part of this year out of the office and like many have found a new balance in how we work, mixing home-working with being in the office. There have been a number of changes in staffing since September 2021. This has included saying farewell to Valerie Nazareth who had been General Secretary for the last few years. We look forward to 2023 becoming a year of increased stability.

Meetings

We held our first post pandemic ‘in person’ meeting for Leaders in Autumn 2021 whilst simultaneously continuing with a variety of other large sessions on zoom.

Meeting for Leaders, October 2021

We had a two-day nonresidential meeting at the Claretian Oasis in Hayes for Leaders and friends – with internationally renowned bestselling

author, Sr Joan Chittister OSB, who joined live via zoom. Archbishop Malcolm McMahon also joined via zoom to talk about the synodal process (having recently held a synod in the Archdiocese of Liverpool) and Sr Nellie McLaughlin RSM, who leads retreats in creation spirituality throughout Ireland and internationally, joined in person. The conference concluded with a Mass presided by His Excellency Archbishop Claudio Gugerotti, Apostolic Nuncio to Great Britain.

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Report of the Executive Committee Year to 30 September 2022

ACTIVITIES AND PERFORMANCE (continued)

Meetings

‘ Cry of the Earth – how can Religious respond?’ was held in October 2021. This featured contributions from four Religious and was aimed at inspiring and encouraging others to get involved. It included a video interview between Sr Kate Midgley & environmental activist, Melanie Nazareth.

Ukraine information session with a focus on hosting, April 2022

We held an information webinar on Ukraine with speakers including: Sr Agnesa Jenčíková, (Provincial Superior of the Congregation of Jesus in Slovakia), who shared firsthand accounts of assisting refugees; Nicola Harwood from the charity Nightstop about the various aspects of hosting that need to be considered; and Sr Catherine O’Neill PBVM who accommodates destitute asylum seekers in her own home.

AGM via zoom, May 2022

The AGM for Leaders included video input from Sr Imelda Poole IBVM in Albania and a financial presentation from Amanda Francis of Buzzacott. Sr Teresa White FCJ provided an animated opening and closing prayer sequence.

Health and Care Group: Second webinar on dementia, June 2022

There was a follow up session on dementia with two excellent external speakers: Sharon Johnston, Admiral nurse and Sarah Hodges, Occupational Therapy community team.

The Conference of Religious in England and Wales

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Report of the Executive Committee Year to 30 September 2022

ACTIVITIES AND PERFORMANCE (continued)

Meetings (continued)

Synodal Feedback meetings, December 21 – February 2022

It was decided that we would create our contribution to the Synod of Bishops by organising a series of three online meetings that would be open to Religious to attend. The first session, on the theme of ‘Communion’ included a reflection by Sr Gemma Simmonds CJ; the second session focusing on ‘Participation’ included a reflection by Fr John McGowan OCD, and the third session on ‘Mission’ was led by Sr Lynda Dearlove.

Feedback from Religious in each session was collated and sent to The Dicastery for Institutes of Consecrated Life and Societies of Apostolic Life

Safeguarding Meetings

The Conference has hosted a variety of online meetings to keep Religious up to date with the developments in safeguarding structures after The Elliot Report and ICCSA. Meetings were set up to consult religious about the development of the RLSS. These were led by David Smolira SJ.

Training

December 21 – February 2022: CoR facilitated a series of three sessions for new Leaders, via zoom, with Sr Christine Anderson FCJ leading on input.

Communications

Media

Raising the profile of Religious both within our congregations and to the wider world has continued to be a key aim for us. Several articles have made their way into The Tablet and/or onto ICN eg.:

A pilgrim on the way: celebrating forty years of priesthood on the Camino: https://www.corew.org/news/2022/10/2/a-pilgrim-on-the-way-walking-tne-camino

Rejoicing in the rich heritage of Religious Orders in Education: https://www.corew.org/news/2022/10/3/rejoicing-in-the-rich-heritage-of-religious-orders-ineducation

The Season of Creation and the making of a crucifix in the spirit of Laudato Si’: https://www.corew.org/news/2022/9/28/the-season-of-creation-and-the-making-of-a-crucifixin-the-spirit-of-laudato-si

Key new role for FCJ Sister in Liverpool Archdiocese: https://www.corew.org/news/2022/6/14/key-new-role-for-fcj-sister-in-liverpool-archdiocese

Our website www.corew.org continues to be a showcase of Religious life - for members and the wider world – by telling the stories of Religious and raising awareness of key issues. It features regularly updated ‘stories’ as well as reflections written by Religious in the ‘blog’ section. Additionally, the website is also a way of providing members with information and resources and important documents, eg., Guide to Stipends.

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Report of the Executive Committee Year to 30 September 2022

ACTIVITIES AND PERFORMANCE (continued)

Communications (continued)

Media (continued)

The CORrespondent

The CORrespondent, our monthly newsletter continues to be our main form of communication with members. It aims to carry significant news of our work, relevant updates as well as being a platform for Religious to share information concerning initiatives, projects, retreats, meetings as well as to make requests.

Support Groups for Leaders

Three groups of Leaders met in broad geographical areas or hubs, covering:

The hubs join the well-established North London group which has been meeting to provide mutual support and information to Leaders for many years.

Report from the Health and Care Group

The work of the CoR healthcare group has continued this year with members helping congregations with particular queries and concerns.

The group now comprises of 5 Religious, all with experience of health-related issues within their own order and supported by Susan Thomas (Director Employment Matters Limited).

This year we have focused on the many challenges and concerns that dementia brings, which have raised by so many of our members. We know that the variety of symptoms and behaviours associated with dementia leave so many feeling unsure of where to turn for help and advice.

At the request of members, we researched and delivered 2 webinars on the topic of dementia. The first was an outline of the different types of dementia and recognising the symptoms. This was led by a member of the Executive Committee who has a great deal of experience in this area and is a qualified and practicing nurse.

The second webinar was organised by Susan who invited former colleagues from the NHS to present to us. The topic was living with dementia, and living with those who suffer from dementia.

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Report of the Executive Committee Year to 30 September 2022

ACTIVITIES AND PERFORMANCE (continued)

Report from the Health and Care Group (continued)

We benefited from hearing an Admiral Nurse, who is one of a group of nurses specially trained in the care of dementia patients and those who care for them. She was joined by a colleague who is a specialist Occupational Therapist who deals with caring for those with dementia in their own homes. Together these professionals outlined a combination of general advice and strategies to be deployed when dealing with those with dementia. They gave their time voluntarily and we are extremely grateful to them.

Over the summer there have been no meetings of our group but we will be coming together again shortly to think about our work in 2023. As always, we are there to serve our members.

Monica Matthews Chair

SAFEGUARDING

Religious Lead on Safeguarding

One of the recommendations made by IICSA was that the Conference of Religious and the Conference of Bishops should each appoint a Lead person with responsibility for Safeguarding. The inaugural post holder for CoR was Fr David Smolira SJ who help establish a role description. Fr David stepped back from his work on this on 30 September and on 1 October 2021, Sr Frances Orchard CJ was appointed Lead Religious for Safeguarding.

Collaboration with others

CoR continues to work to represent Religious, share information and develop relationships with others in the Church and the wider community through a variety of means. Sometimes this is done by the Executive, for example via the Mixed Commission to represent the views of religious to the Bishops (recent topics covered include safeguarding, One Church and the lack of consultation on the new lectionary) or on the CBCEW Department of Social Justice Committee Work. Sometimes it is done by the General Secretary e.g. in relation to IICSA work has been done through the Catholic Council and sometimes it is done by other Religious.

We also collaborate by joining organisations such as the Churches Legislative Advisory Service. Those who sit on the committees and groups to ensure that CoR is kept abreast of activities and developments elsewhere include:

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Report of the Executive Committee Year to 30 September 2022

SAFEGUARDING (continued)

Collaboration with others (continued)

FUTURE PLANS

A review of CoR’s three-year Strategic Plan is now due.

A new project is also beginning, exploring how Religious might collaborate with respect to the challenges they are facing. This will be a theme to take forward at the AGM 2023.

FINANCIAL REVIEW

Results for the year

The statement of financial activities shows that net expenditure for the year before gains on investments was £57,691 (2021: net income of £11,910). Net losses on the revaluation of investments were £58,545 (2021: net gains of £119,517) leading to an overall decrease in funds of £116,236 (2021: increase in funds of £131,427).

Income comprised mainly of membership fees, income from meetings and investment income. Some members continued to subscribe amounts in excess of their actual fees so that those members whose resources are more limited are not prevented from participating in conferences and other activities.

Investment policy and performance

The charity’s investments, managed by CCLA Investment Management Limited, were valued at £984,829 (2021: £1,043,374) at the year end date.

The investment managers operate within specific, ethical guidelines which are set out and reviewed periodically by the Executive Committee. The ethical guidelines mean that the charity cannot invest in any company connected with armaments, gambling, tobacco, alcohol, contraception and known social injustice in the third world. The charity’s investment policy is to maintain a balance between capital growth and income, so that, over the long term, the real value of assets will be maintained.

In accordance with the above policy, investments were held in COIF Charities Ethical Investment Fund Income Units and COIF Charities Ethical Investment Fund Accumulation Units during the year. The holding returned a total yield (income and capital) of 14.5% for the year.

The Conference of Religious in England and Wales

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Report of the Executive Committee Year to 30 September 2022

FINANCIAL REVIEW (continued)

Raising funds

The charity aims to achieve best practice in the way in which it communicates with members and other supporters. It takes care with both the tone of its communications and the accuracy of its data to minimise the pressures on members and supporters. It applies best practice to protect members’ and supporters’ data and never sells data, it never swaps data and ensures that communication preferences can be changed at any time. The charity manages its own activities in respect to raising funds and does not employ the services of professional fundraisers. The charity undertakes to react to and investigate any complaints regarding its activities for raising funds and to learn from them and improve its service. During the year, the charity received no complaints about such activities.

Reserves policy

The members of the Executive Committee consider that it is essential to have in place an appropriate amount of working capital so that the charity may meet its liabilities as and when they fall due. To meet this objective, the members of the Executive Committee consider that funds available for working capital and held as free reserves should be equivalent to at least six months’ operating expenses.

Financial position

At 30 September 2022, the charity had total net assets of £1,197,423 (2021: £1,313,659).

Included within these total funds are restricted funds amounting to £53,624 to fund safeguarding advisory and associated activities in the future.

£984,829 (2021: £1,043,374) of these net assets comprise the charity’s investment portfolio and represent a designated fund called the capital reserve fund. Demographic data relating to membership of religious congregations, together with the lower number of current vocations, continue to indicate that further reductions in income may be expected in future years.

The charity will rely more and more on investment income in order to fund its charitable work. Consequently, the members of the Executive Committee have set aside, or designated, the value tied up in the charity’s investment portfolio as a capital reserve in order to provide a level of assurance that investment income will continue to be generated in future years and thereby ‘finance’ the charity’s work in the long term.

Free reserves at 30 September 2022 stood at £153,560 (2021: £206,527). Comparing this to the charity’s reserves policy set out above, it is clear that normally there would be scope to reduce the free reserves. The Executive Committee believes that the reserves will be sufficient to enable CoR to continue to operate in uncertain circumstances and do not expect material concerns to arise over the charity’s financial position. The Executive Committee, therefore, is content also to allow the free reserves to exceed the amount set out in the policy for the immediate future.

The Conference of Religious in England and Wales

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Report of the Executive Committee Year to 30 September 2022

PRINCIPAL RISKS AND UNCERTAINTIES

The Executive is continuing to work on assessing the main risks to which the charity is exposed, in particular those relating to the specific operational areas of the charity, its investments, and its finances. The Executive believes that by monitoring reserve levels, by ensuring controls exist over key financial systems, and by examining the operational and business risks faced by the charity, it has established effective systems to mitigate those risks. These systems are also frequently reviewed with a view to possible updates and improvements.

Loss of key personnel

The Executive notes the importance of consistency in staff and key personnel within the organisation. It recognises the challenges that the loss of personnel can have on an organisation that relies on a relatively small team of people particularly when more than one leave at the same time. To assist in mitigating this risk, a number of strategies are in place. Some of the Executive Trustees hold positions on external bodies, which are important to the effective functioning of CoR. There are also other Religious and lay people who participate in aspects of CoR such as its Finance Committee, Health and care Group and in safeguarding.

Reliance on limited income sources

The reliance on one single source of income has long been recognised as a risk to the future ability of CoR to provide the service that the members require and to ensure that religious congregations are represented in areas of concern. The main source of income is the membership fees. The Strategic Plan highlighted the fact that the number of members is decreasing, resulting in a decrease in the income derived from congregations. This is reflected in the budget for 2022/2023.

The Executive also recognise that it receives professional support from companies and notably this year from Buzzacott; Stone King; IBB; D.E. Ford; and CCLA. The charity is indebted to these firms for their advice and guidance.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The Conference is governed by its own statutes and is registered with the Charity Commission (Charity Registration No. 277024). The property of the Conference is vested in a Trust, regulated by a trust deed dated 20 November 1978, as amended by deeds of variation dated 4 March 1992 and 20 September 2001.

Organisation

CoR is administered by an Executive Committee, members of which constitute the trustees of the charity. At 30 September 2022, the Executive Committee comprised a President, a Vice President, and eight other members.

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Report of the Executive Committee Year to 30 September 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Organisation (continued)

The responsibility for representing the charity at meetings of other ecclesiastical and civil bodies falls mainly on members of the Executive Committee. However, the day-to-day management of the charity is delegated to the General Secretary. The Executive Committee monitors progress by meeting bi-monthly to receive reports from the General Secretary and other staff members when appropriate. The Executive Committee also maintains financial control by approving the annual budget and receiving management accounts which are prepared on a quarterly basis.

Executive Committee

As stated above, members of the Executive Committee constitute the trustees of the charity. They are incorporated under the provisions of section 251 of the Charities Act 2011 as “The trustees of the Conference of Religious of England and Wales”.

Members of the Executive Committee, who served during the year or who were in office at the date on which this report was signed, are set out on page 1.

They are appointed by means of nomination and election procedures at the charity’s Annual General Meeting. Each member is elected for a period of three years and is eligible to serve for a maximum of two terms.

Key management personnel

The members of the Executive Committee consider that they, together with the General Secretary, comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day to day basis.

None of the members of the Executive Committee are remunerated for their services to the charity. The remuneration of the General Secretary is based on market rates. The remuneration is considered annually by the Executive Committee and any increments to the salary are agreed and ratified.

STATEMENT OF RESPONSIBILITIES OF THE EXECUTIVE COMMITTEE

The Executive Committee is responsible for preparing the report of the Executive Committee and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Executive Committee to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period.

In preparing these accounts, the Executive Committee is required to:

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Report of the Executive Committee Year to 30 September 2022

STATEMENT OF RESPONSIBILITIES OF THE EXECUTIVE COMMITTEE (continued)

The Executive Committee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable it to ensure that the accounts comply with the Charities Act 2011, applicable Charity (Accounts and Reports) Regulations and the provisions of the trust deed. The Executive Committee is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ACKNOWLEDGEMENTS

The Executive would like to thank the members of the Secretariat: the General Secretary, the Communications and Development Lead and the Administrative Co-ordinator for their support and commitment to CoR throughout this year.

Signed on behalf of the Executive Committee:

Fr Paul Smyth CMF

Member of the Executive Committee Approved on: 5[th] May 2023

The Conference of Religious in England and Wales

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Independent auditor’s report Year to 30 September 2022

Independent auditor’s report to the members of the Executive Committee of The Conference of Religious in England and Wales

Opinion

We have audited the accounts of The Conference of Religious in England and Wales (the ‘charity’) for the year ended 30 September 2022 which comprise the statement of financial activities, the balance sheet, the principal accounting policies and the notes to the accounts. 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 Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the accounts:

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 auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts 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 accounts, we have concluded that the Executive Committee’s use of the going concern basis of accounting in the preparation of the accounts 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 accounts are authorised for issue.

Our responsibilities and the responsibilities of the Executive Committee with respect to going concern are described in the relevant sections of this report.

The Conference of Religious in England and Wales

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Independent auditor’s report Year to 30 September 2022

Other information

The Executive Committee is responsible for the other information. The other information comprises the information included in the Annual Report and Accounts, other than the accounts and our auditor’s report thereon. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts 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 accounts or a material misstatement of the other information. 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 in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of the members of the Executive Committee

As explained more fully in the statement of responsibilities of the Executive Committee, the members of the Executive Committee (who are the charity’s trustees) are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the Executive Committee determines is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the Executive Committee is 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 Executive Committee either intends to liquidate the charity or to cease operations, or has no realistic alternative but to do so.

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Independent auditor’s report Year to 30 September 2022

Auditor’s responsibilities for the audit of the accounts

Our objectives are to obtain reasonable assurance about whether the accounts 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 accounts.

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.

How the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

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Independent auditor’s report Year to 30 September 2022

Auditor’s responsibilities for the audit of the accounts (continued)

How the audit was considered capable of detecting irregularities including fraud (continued)

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

The Conference of Religious in England and Wales 18

Independent auditor’s report Year to 30 September 2022

Use of our report

This report is made solely to the members of the Executive Committee, (who are charity’s trustees), as a body, in accordance with section 144 of the Charities Act 2011 and with regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the members of the Executive Committee those matters we are required to state to them in an auditor's 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 members of the Executive Committee, as a body, for our audit work, for this report, or for the opinions we have formed.

Buzzacott LLP 31[st] May 2023 Statutory Auditor 130 Wood Street London EC2V 6DL

Buzzacott LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

The Conference of Religious in England and Wales

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Statement of financial activities Year to 30 September 2022

Notes Unrestricted
funds
£		 Restricted
funds
£		 2022
£		 Unrestricted
funds
£		 Restricted
funds
£
2021
£
Income from:
Investments and interest receivable
1
Charitable activities
2
Total income
Expenditure on:
Charitable activities
. Promotion of the welfare of Apostolic
Institutes of Religious in England and
Wales
3
Total expenditure
Net (expenditure) income before
investment (losses) gains
4
Net investment (losses) gains
8
Net (expenditure) income and net
movement in funds
Reconciliation of funds:
Fund balances brought forward at 1
October 2021
Fund balances carried forward at 30
September 2022		 16,015
161,387
—

—		 16,015
161,387		 15,727
186,002
—

61,000
15,727

247,002
177,402
—		 177,402 201,729
61,000
262,729
228,511



6,582		 235,093 201,718 49,101
250,819
228,511
6,582		 235,093 201,718
49,101
250,819
(51,109)
(58,545)
(6,582)


—
 (57,691)
(58,545)		 11
119,517		 11,899

—		 11,910

119,517
(109,654)
1,253,453
(6,582)


60,206		 (116,236)
1,313,659		 119,528
1,133,925
11,899
48,307
131,427
1,182,232
1,143,799 53,624 1,197,423 1,253,453 60,206 1,313,659

All of the charity’s activities derived from continuing operations during the above two financial periods.

All recognised gains and losses are included in the above statement of financial activities.

The Conference of Religious in England and Wales

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Balance sheet 30 September 2022

Notes 2022
£		 2022
£		 2021
£		 2021
£
Fixed assets
Tangible assets
7
Investments
8
Current assets
Debtors
9
Short term deposits
Cash at bank and in hand
Liabilities
Creditors: amounts falling due
within one year
10
Net current assets
Total net assets
The funds of the charity:
Unrestricted funds
. General funds
. Tangible fixed assets fund
11
. Designated funds
12
Restricted funds
13		 4,106
150,000
109,002		 5,410
984,829		 8,283
150,000
171,412		 3,552
1,043,374
990,239
207,184		 1,046,926
266,733
263,108
(55,924)		 329,695
(62,962)
1,197,423 1,313,659
153,560
5,410
984,829		 206,527
3,552
1,043,374
1,143,799
53,624		 1,253,453
60,206
1,197,423 1,313,659

Approved by the members of the Executive Committee and signed on their behalf by:

Member of the Executive Committee: Fr Paul Smyth CMF

Approved on: 5[th] May 2023

The Conference of Religious in England and Wales 21

Principal accounting policies Year to 30 September 2022

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

Basis of preparation

These accounts have been prepared for the year to 30 September 2022 with comparative information provided for the year to 30 September 2021.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The accounts have been prepared in accordance with 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 United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates and areas of judgement

Preparation of the accounts requires the Executive Committee and management to make significant judgements and estimates.

The items in the accounts where these judgements and estimates have been made include:

Assessment of going concern

The Executive Committee has assessed whether the use of the going concern assumption is appropriate in preparing these accounts. It has made this assessment in respect to a period of one year from the date of approval of these accounts.

The Conference of Religious in England and Wales 22

Principal accounting policies Year to 30 September 2022

Assessment of going concern (continued)

Free reserves at 30 September 2022 stood at £153,560 (2021: £206,528). Comparing this to the charity’s reserves policy set out in the Report of the Executive Committee, it is clear that normally there would be scope to reduce the free reserves. However, members of the Executive Committee believe that these additional reserves will act as a cushion against the effects of current macroeconomic and geopolitical climate on the charity and its investment portfolio in particular and other unforeseen events. The Executive Committee believes that the reserves will be sufficient to enable CoR to operate in the exceptional economic circumstances that exist in the UK and wider world and does not expect material concerns to arise over the charity’s financial position.

The Executive Committee is of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. The most significant areas of judgement that affect items in the accounts are detailed above.

Statement of cash flows

The accounts do not include a statement of cash flows because the charity is considered a small charity and is therefore exempt from the requirement to prepare such a statement under the Charities SORP FRS 102 Update Bulletin 1.

Income recognition

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.

Income comprises investment income and interest receivable and income from charitable activities, principally the income derived from membership subscriptions, financial contributions towards meetings and grants receivable.

Investment income is recognised once the dividend or equivalent has been declared and notification has been received of the amount due.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Income comprising annual membership subscriptions is credited to the statement of financial activities on an accruals basis with reference to the period covered by the subscription. Income in respect to meetings and other events is credited to the statement of financial activities when invoiced and is accounted for net of any discounts and/or rebates.

The Conference of Religious in England and Wales 23

Principal accounting policies Year to 30 September 2022

Income recognition (continued)

Grants and donations from members are recognised when the charity has confirmation of both the amount and settlement date. In the event of grants and/or donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a grant or donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is stated inclusive of irrecoverable VAT.

All expenditure incurred by the charity relates directly or indirectly to the principal charitable objective of the charity i.e. promoting the welfare of Apostolic Institutes of Religious in England and Wales. Within this heading, expenditure is categorised between the key areas of activity and is analysed in note 3 to these accounts. Indirect expenditure comprises support costs and governance costs. Support costs include all expenditure on financial procedures, the provision of office services and general administration. Governance costs comprise the costs of public accountability (including audit costs). All support and governance costs are allocated to activities in the ratio of the direct expenditure on each activity.

Tangible fixed assets

All assets costing more than £1,000 and with an expected useful life exceeding one year are capitalised.

Improvements to leasehold property are depreciated on a straight-line basis over the life of the lease.

Depreciation is provided on office furniture and equipment purchased outright on a straight-line basis at rates of 20% and 25% per annum respectively.

Investments

Listed investments are a form 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.

The charity does not acquire put options, derivatives or other complex financial instruments.

The Conference of Religious in England and Wales

24

Principal accounting policies Year to 30 September 2022

Investments (continued)

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds 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 at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

Debtors

Debtors are recognised at their settlement amount, less any provision for nonrecoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Funds structure

The unrestricted funds of the charity represent those funds which are freely available for use in furtherance of the charity’s objectives at the discretion of the members of the Executive Committee. Within the total unrestricted funds of the charity, the members of the Executive Committee have designated amounts for specific purposes and have identified those non-liquid funds represented by the tangible fixed assets and fixed asset investments. Those funds not designated or represented by tangible fixed assets or fixed asset investments are classified as general funds.

Pension costs

Contributions payable to defined contribution pension schemes and/or personal pension plans are accounted for in the year in which they are payable.

The Conference of Religious in England and Wales

25

Notes to the accounts Year to 30 September 2022

1 Income from investments and interest receivable

Unrestricted
funds
£		 Restricted
funds
£		 2022
£		 Unrestricted
funds
2021
£
Investment income
. Unit trusts and similar funds
Bank interest		 15,867
148
—

—		 15,867
148		 15,699
28
16,015
—		 16,015 15,727

2 Income from charitable activities

Unrestricted
funds
£		 Restricted
funds
£		 2022
£		 Unrestricted
funds
£		 Restricted
funds
£
—
—
—
61,000
61,000		 2021
£
Membership subscriptions
Meetings
Other income
Grants receivable and
donations from members		 139,373
8,049
—
13,965
—

—
—
—		 139,373
8,049
—
13,965		 162,171
8,678
10
15,143		 162,171
8,678
10
76,143
161,387
—		 161,387 186,002 247,002

3 Expenditure on charitable activities: Promotion of the welfare of Apostolic Institutes of Religious in England and Wales

Unrestricted Unrestricted Restricted Restricted



Total
2022
£
28,468
54,267
33,325
12,000
47,603
59,430
235,093
Direct
staff
costs
£
Other
direct
costs
£
Support
staff costs
£
Other
support
costs
£		 Direct
staff costs
£		 Other
direct
costs
£
Safeguarding
Leaders’ meetings
Events
Vocations
Development
Communications		 4,624
17,103
13,118
—
18,739
23,395
—

10,820

—
12,000

—

—		 5,498
8,391
6,436
—
9,193
11,477
11,764

17,953

13,771
—

19,671

24,558
6,582

—

—
—

—

—
—
—
—
—
—
—
76,979
22,820
40,995
87,717
6,582
—

The Conference of Religious in England and Wales 26

Notes to the accounts Year to 30 September 2022

3 Expenditure on charitable activities: (continued)

Unrestricted Unrestricted Restricted Restricted
Total
2021
£
Direct staff
costs
£
Other
direct costs
£
Support
staff costs
£
Other
support
costs
£		 Direct staff
costs
£		 Other
direct costs
£
Safeguarding
Leaders’ meetings
Events
Vocations
Development
Communications		 9,753
14,935
16,344
—
18,383
22,961
—

6,080

—

6,649

—

—
17,343
4,477
4,900
—
5,511
6,883
29,929

7,726

8,455

—

9,511

11,878
48,101

—

—

—

—

—
1,000

—

—

—

—

—
106,126
33,218
29,699
6,649
33,405
41,722
82,376
12,729
39,114
67,499
48,101
1,000
250,819

4 Net (expenditure) income before investment (losses) gains This is stated after charging:

2022
£		 2021
£
Staff costs (note 5)
Audit costs including VAT
. Statutory audit services
Depreciation		 124,556
7,273
2,099		 169,591
10,263
1,291

5 Staff costs

Staff costs
2022
£		 2021
£
Staff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs
Consultancy
Staff costs per function were as follows:
Safeguarding
Leaders’ meetings
Advice and information
Development
Communications
Governance
Support		 97,536
6,305
1,635		 154,685
12,369
2,537
105,476
19,080		 169,591
—
124,556 169,591
11,206
17,103
13,118
18,739
23,394
19,144
21,852		 57,854
14,935
16,344
18,383
22,961
17,942
21,172
124,556 169,591

There were no employees who earned £60,000 per annum or more (including benefits) during the year (2021: none).

The Conference of Religious in England and Wales

27

Notes to the accounts Year to 30 September 2022

5 Staff costs (continued)

The average number of employees during the year, including consultants, (by head count), analysed by function, was as follows:

2022
No.		 2021
No.
Secretariat (safeguarding, advice and information, members’ meetings,
advocacy, vocations, formation)
Support		 2.3
0.4		 2.8
0.4
2.7 3.2

Remuneration of key management personnel

The members of the Executive Committee, together with the General Secretary comprise the key management of the charity. No member of the Executive Committee received any remuneration in connection with his or her services during the year (2021: £nil).

The remuneration paid in respect to the post of General Secretary for the year ended 30 September 2022 was £31,427 (2021: £48,217) in respect to an employed post and £19,080 (2021: £nil) in respect to a consultancy arrangement.

No member of the Executive Committee was reimbursed expenses during the year of (2021: one member was reimbursed expenses totaling £20) in respect to travel and meeting expenses in connection with their duties as members of the Executive Committee.

6 Taxation

The Conference of Religious in England and Wales is a registered charity and, therefore, is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

7 Tangible fixed assets

Office
furniture
and
equipment
£
Cost
At 1 October 2021
Additions
At 30 September 2022
Depreciation
At 1 October 2021
Charge for year
At 30 September 2022
Net book values
At 30 September 2022
At 30 September 2021		 5,166
3,957
9,123
1,614
2,099
3,713
5,410
3,552

The Conference of Religious in England and Wales

28

Notes to the accounts Year to 30 September 2022

8 Investments

Investments
2022
£		 2021
£
Listed investments
Market value at 1 October 2021
Unrealised investment (losses) gains
Market value at 30 September 2022
Cost of listed investments at 30 September 2022		 1,043,374
(58,545)		 923,857
119,517
984,829 1,043,374
671,678 671,678

At 30 September 2022, the listed investments comprised holdings in the following two funds managed by CCLA Investment Management Limited:

Holding Market
value at
30
September
2022
£		 Percentage
of portfolio
%
COIF Charities Ethical Investment Fund Income Units
COIF Charities Ethical Investment Fund Accumulation Units		 515,731
469,098		 52.4
47.6
984,829 100.0
9 Holding Market
value at
30
September
2021
£		 Percentage
of portfolio
%
COIF Charities Ethical Investment Fund Income Units
COIF Charities Ethical Investment Fund Accumulation Units		 554,015
489,359		 53.1
46.9
1,043,374 100.0
Debtors 2022
£		 2021
£
Prepayments and accrued income
Other debtors		 4,106
—		 499
7,784
4,106 8,283

The Conference of Religious in England and Wales 29

Notes to the accounts Year to 30 September 2022

10 Creditors: amounts falling due within one year

11 2022
£		 2021
£
Membership subscriptions received in advance
Accruals
Other creditors		 33,818
12,699
9,407		 37,055
16,305
9,603
55,924 62,963
Tangible fixed asset fund 2022
£		 2021
£
At 1 October 2021
Movement in year
At 30 September 2022		 3,552
1,858		 4,843
(1,291)
5,410 3,552

The tangible fixed assets fund represents the net book value of the charity’s tangible fixed assets. A decision was made to separate this fund from the general fund and other designated funds of the charity in recognition of the fact that the tangible fixed assets are essential to the day-to-day work of the charity and as such their value should not be regarded as funds that would be realisable with ease, in order to meet future contingencies.

12 Designated funds

The income funds of the charity include the following designated fund which has been set aside out of unrestricted funds by the members of the Executive Committee for specific purposes:

At 1
October
2021
£		 New
designations
£
Utilised/
released
£		 At 30
September
2022
£
Capital reserve fund 1,043,374 — (58,545) 984,829
At 1
October
2020
£		 New
designations
£		 Utilised/
released
£		 At 30
September
2021
£
Capital reserve fund 923,857 119,517 — 1,043,374

The charity will rely more and more on investment income in order to fund its charitable work. Consequently, the members of the Executive Committee believe it prudent to set aside, or designate, the value tied up in the charity’s investment portfolio as a capital reserve in order to provide a level of assurance that investment income will continue to be generated in future years and thereby ‘finance’ the charity’s work in the long term.

The Conference of Religious in England and Wales

30

Notes to the accounts Year to 30 September 2022

13 Restricted funds

The income funds of the charity include the following restricted funds to be applied for specific purposes:

At 1
October
2021
£		 Income
£
—
Income
£
61,000		 Expenditure
£		 At 30
September
2022
£
Safeguarding project 60,206 (6,582) 53,624
At 1
October
2020
£		 Expenditure
£		 At 30
September
2021
£
Safeguarding project 48,307 (49,101) 60,206

The safeguarding project fund is to be applied towards the cost of specific safeguarding advisory and associated activities.

14 Analysis of net assets between funds

Restricted
funds
£		 General
funds
£		 Tangible
fixed
assets
funds
£		 Designated
funds
£
—
984,829
—
984,829
Designated
funds
£
—
1,043,374
—
1,043,374		 Total
2022
£
Fund balances at
30 September 2022 are
represented by:
Tangible fixed assets
Investments
Net current assets
Total net assets		 —
—
**53,624 **
—

—

153,560		 5,410
—
—		 5,410
984,829
207,184
**54,624 **
153,560		 5,410 1,197,423
Restricted
funds
£		 General
funds
£		 Tangible
fixed
assets
funds
£		 Total
2021
£
Fund balances at
30 September 2021 are
represented by:
Tangible fixed assets
Investments
Net current assets
Total net assets		 —
—
_60,206 _
—

—

206,527		 3,552
—
—		 3,552
1,043,374
266,733
_60,206 _
206,527		 3,552 1,313,659
Total
2022
£		 Total
2021
£
Reconciliation of movements in unrealised gains on investment
assets:
Unrealised gains at 1 October 2021
Net unrealised gains arising in year
Unrealisedgains at 30 September 2022
371,696
**(58,545) **		 252,179
119,517
313,151 371,696

The Conference of Religious in England and Wales 31

Notes to the accounts Year to 30 September 2022

15 Financial commitments

At 30 September 2022 the charity was committed to pay £12,000 in respect to rent and service charges payable (2021: £12,000).

16 Transactions with related parties

The religious congregations to which the members of the Executive Committee belong are all members of the charity and pay membership subscriptions to the charity. All such payments are made to the charity on an arm's length basis.

During the year, the religious congregations to which the members of the Executive Committee belong made contributions to the charity totalling £20,182 (2021: £18,430). These contributions consist of membership fees and donations.

During the year, the charity incurred rent and service charges totaling £24,000 (2021: £24,000) payable to the Poor Servants of the Mother of God (PSMG). PSMG, are members of the Conference of Religious in England and Wales.

During the year, the charity made a payment of £6,830 (2021: £nil) in respect to venue hire to the Claretian Missionaries Trust, a charity of which Father Paul Smyth, a member of the Executive Committee, is also a trustee of. The Claretian Missionaries are members of the Conference of Religious in England and Wales.

The Conference of Religious in England and Wales

32