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2023-09-30-accounts

ANNUAL REPORT AND ACCOUNTS

30 SEPTEMBER 2023

THE CONFERENCE OF RELIGIOUS IN ENGLAND AND WALES

Charity Registration Number 277024

Contents

Reports

Reference and administrative information 1
Report of the Executive Committee 2
Independent auditor’s report 15
Accounts
Statement of financial activities 20
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 2023

Executive Committee Sr Sarah Dobson CJ_elected Oct 2021 – elected joint leader in November_
2023
Sr Catherine Lloyd RSCJ_elected Oct 2021 – elected joint leader in_
November 2023
Sr Ellen Flynn DC_elected Interim President from May - November 2023 –_
stepped down from the Board in November 2023
Fr Paul Smyth CMF (President)stepped down from the Board in May
2023
Sr Sue Berry CSF (Anglican Associate Member)elected Sept 2017
Sr Margaret Donovan HC_elected May 2019_
Fr Robert Marsh OSA elected Oct 2021_stepped down from the Board_
in May 2023
Sr Monica Matthews SHJC_appointed Oct 2019_
Sr Anne Morris DHS_elected Oct 2021_
Fr Richard Reid CSsR_elected Oct 2021_
Sr Jen Bromham_elected November 2023_
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 (UBC)
Upper Borough Walls
Bath
BA1 1RG

The Conference of Religious in England and Wales 1

Report of the Executive Committee Year to 30 September 2023

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 2023.

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 243 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).

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:

Our Values

All our activities are inspired by Gospel Values. The hallmarks of CoR are:

The Conference of Religious in England and Wales 2

Report of the Executive Committee Year to 30 September 2023

INTRODUCTION (continued)

Our Aims and Objectives

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:

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

To generate and participate in Networks that promote Collaboration

To serve and support Religious in England and Wales

The Conference of Religious in England and Wales 3

Report of the Executive Committee Year to 30 September 2023

INTRODUCTION (continued)

Our Aims and Objectives (continued)

To serve and support Religious in England and Wales (continued)

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. 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.

ACTIVITIES AND PERFORMANCE

The Secretariat

There have been a significant number of staff changes in 2023 and we now look forward to 2024 being a year of stability, with a small Secretariat, while challenging historical and current practices, reducing costs, and focusing on the staffing structure and arrangements needed for the future.

The Conference of Religious in England and Wales 4

Report of the Executive Committee Year to 30 September 2023

ACTIVITIES AND PERFORMANCE (continued)

Meetings

Throughout the year CoR has conducted or organised a host of meetings both in person and online, many of which are listed below:

On Monday 24 October 2022, CoR organised a Synodal Liturgy from 5-6pm, which was well attended.

General Meeting

In addition to the COR Annual General Meeting, the Executive organised a successful General Meeting, which took place on Wednesday 26 October 2022. CoR hosted the General Meeting at the Oasis Centre in Hayes, to which all religious are invited. Sr Una Agnew SSL was the guest speaker and she spoke about The Spiritual Challenges of the second half of life: The complex task of Growing Up”. ‘This topic was well received.

There was also a Zoom Meeting hosted on Thursday 24 November 2022, regarding the CSSA Contracts. Damien Howard SJ shared some of the legal advice the Jesuits received which helped to clarify many areas.

2023 began with a host of meetings including the CSSA Audit Process via Zoom on Tuesday 31 January 2023 and the RLSS Annual General Meeting via Zoom, which took place on Wednesday 1 February 2023.

Work around the CSSA continued throughout the first quarter of 2023 with a meeting held on Thursday 23 February regarding the CSSA Audit. This was followed by another Zoom meeting re the CSSA contracts on Tuesday 14 March 2023 and further meetings in relation to the CSSA work and CoR’s contract.

Connections with the Church

As well as attending meetings of the Mixed Commission with some of the Bishops of England and Wales, the Executive welcomed Archbishop Miguel Maury Buenda, the newly arrived Apostolic Nuncio. The Archbishop celebrated Mass with the Executive members and had conversation over lunch.

Representatives of the Executive attend the meetings of the Mixed Commission with some of the Bishops of England and Wales. It gives a chance for the Religious and Bishops to share what is happening in their lives and in the Church, and where we can work together and so become ‘One Church’.

One of the significant happenings is the Collaboration Project. Meetings and conversations began towards the setting up of a support group for those congregations whose members are increasingly few, exploring ways in which we can help and support one another. This initiative is being led by Sr Jane Maltby RSCJ, with a Core Group. Various workshops are being planned, see below, on topics where Religious can collaborate and work together. Some Congregations are moving towards completion as a religious group in England and Wales.

The Conference of Religious in England and Wales 5

Report of the Executive Committee Year to 30 September 2023

ACTIVITIES AND PERFORMANCE (continued)

Meetings (continued)

Connections with the Church (continued)

The Collaboration Project is proposing the following initial 6 workshops for the coming year:

1. New/innovative leadership and ways of organising ourselves.

Thursday 7 March from 11.00am to 3.30pm at St. Aloysius Parish Hall, Phoenix Rd. Euston, London. This workshop will enable us to raise our concerns, needs etc.

2. Change management - vision for religious life; living into change; spiritual, physical, and emotional accompaniment.

Friday 12 April from 11.00am to 3.30pm at St Aloysius Parih Hall, Phoenix Rd. Euston London This workshop will be led by Sister Cath Lloyd RSCJ and Father Paul Smyth CMF.

3. Charity governance, civil law, and Canon law

Thursday 6 June from 11.00 am to 3.30pm at the Grimshaw Rooms, St. Giles Cathedral Hall, Birmingham. Amanda Francis, Partner, Buzzacott LLP, Chartered Accountants, and Tim Rutherford, Partner, Stone King LLP, Solicitors will lead this session.

4. Financial and property management and planning

Thursday 27 June from 11am to 3.30pm at the Grimshaw Rooms, St. Giles Cathedral Hall Birmingham. Amanda Francis, Partner, Buzzacott LLP Chartered Accountants, and Tim Rutherford, Partner, Stone King LLP, Solicitors will again lead this session.

5. Archives and Legacy planning

This session will be held in September 2024 – We are in the process of securing facilitators for this workshop and as soon as we have confirmed speakers, we will communicate the date and venue to all members. In keeping with our aim to be less London centric, we are exploring venues in Greater Manchester.

6. Eldercare

This session will be held in October 2024. This session is being planned and developed within the CoR Health Care Group, chaired by Sr Monica Matthews. This is in response to increasing requests for support and advice on caring for Religious in community and care settings. The session will include practical advice and documents and contributions will be made by members of the Health Care Group, Susan Thomas and other health care professionals. It is hoped the venue will be in Greater Manchester.

The Conference of Religious in England and Wales 6

Report of the Executive Committee Year to 30 September 2023

ACTIVITIES AND PERFORMANCE (continued)

Meetings (continued)

AGM High Leigh Conference Centre May 2023

The AGM for Leaders included facilitation by Sarah Broscomb who led the members on considering “From Reality to Vision”. Plus, a presentation by the CEO and Chair of RLSS, Dani Wardman and the presentation of the charity’s 2021/22 statutory accounts from Amanda Francis of Buzzacott LLP.

The Conference of Religious in England and Wales 7

Report of the Executive Committee Year to 30 September 2023

ACTIVITIES AND PERFORMANCE (continued)

Meetings (continued)

Safeguarding

The Conference advertised the role of Religious Safeguarding Lead to replace Sister Francis Orchard CJ, who stepped down in October 2023.

In September 2023, following the departure of Frances Orchard as CoR’s Safeguarding Lead, a recruitment drive was initiated and in late September 2023 we received an Expression of Interest from Sister Una Coogan to join CoR as the Safeguarding Lead.

Sister Una Coogan has extensive experience in relation to safeguarding including her role on the Safeguarding Trustee Sub-Committee in the Archdiocese of Birmingham.

Throughout the year, CoR was involved in meetings with the RLSS (Religious Life Safeguarding Services) and the CSSA (Catholic Safeguarding Services Agency), the two bodies established in the Catholic Church in England and Wales as a response to the national safeguarding report, IICSA. Members of the Executive engaged in discussions with the leaderships of these two organisations, representing the COR membership in negotiations about contracts and financial contributions to CSSA and the setting up of CSSA audits. Members of the Executive also attended the AGM of RLSS.

Communications

Media

Raising the profile of Religious both within our congregations and to the wider world continues to be a key aim for us.

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 life. It is intended to develop the website further in the coming year to ensure communication with members is more timely and focused on the issues they have requested. The website remains a way of providing members with information and resources and important documents.

The CORrespondent

The CORrespondent, our regular newsletter continues to be our main form of communication with members but this is being reviewed in 2024. Its aim is to carry significant news of our work, any relevant updates as well as being a platform for Religious to share information concerning initiatives, projects, retreats, meetings as well as to make requests. In 2024, we will consider other means of providing information in an accessible and timely way that makes best use of resources.

The Conference of Religious in England and Wales 8

Report of the Executive Committee Year to 30 September 2023

ACTIVITIES AND PERFORMANCE (continued)

Communications (continued)

Support Groups for Leaders

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

These regional hubs join the well-established North London group which has been meeting to provide mutual support and information to Leaders for many years. These groups and the details of those who lead them are to be shared again with the members so that more may access the support they provide.

Report from the Health and Care Group

The work of the CoR healthcare group has not been able to develop as we would have wished this year due to more urgent demands on the time of the Executive and Secretariat. However, members and lay staff do continue to help congregations with particular queries and concerns and this work is led by Sister Monica Matthews.

The group comprises of 5 Religious, all with experience of health-related issues within their own order and supported by Susan Thomas.

It is intended that this group will resume its active work in 2024 and will participate in the collaboration project in relation to elderly care. As always, we are there to serve our members.

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 previously mentioned, Mixed Commission Meetings, to represent the views of Religious to the Bishops.

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

The Conference of Religious in England and Wales 9

Report of the Executive Committee Year to 30 September 2023

ACTIVITIES AND PERFORMANCE (continued)

Collaboration with others (continued)

FUTURE PLANS

A review of CoR’s three-year Strategic Plan is overdue and will commence in 2024 as the Executive reviews the structure and working arrangements of CoR.

Along with progressing our overall Strategic Plan, one of the main focuses for the coming year will be the planning of sustainable ways to remain both responsive and supportive to our membership.

The work of the Collaboration Project will take up much of the coming year and this work will provide an opportunity for exploring how Religious might collaborate with respect to the challenges they are facing. This will continue to be a focus at the AGM in 2024.

FINANCIAL REVIEW

Results for the year

The statement of financial activities shows that net expenditure for the year before gains on investments was £109,145 (2022: net expenditure of £57,691 before losses on investments). Net gains on the revaluation of investments were £27,517 (2022: net losses of £58,545) leading to an overall decrease in funds of £81,628 (2022: £116,236).

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. Expenditure reflects the work of CoR.

Investment policy and performance

The charity’s investments, managed by CCLA Investment Management Limited, were valued at £962,345 (2022: £984,829) 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 10.2% for the year.

The Conference of Religious in England and Wales 10

Report of the Executive Committee Year to 30 September 2023

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 2023, the charity had total net assets of £1,115,795 (2022: £1,197,423).

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

£962,345 (2022: £984,829) 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 2023 stood at £96,696 (2022: £153,560). Comparing this to the charity’s reserves policy set out above, the charity’s free reserves are slightly below the level required. However, the Executive Committee believes that the reserves will be sufficient to enable CoR to continue to operate and do not expect material concerns to arise over the charity’s financial position. The Executive Committee, therefore, is content with the level of free reserves which will be reviewed again in the light of the Strategic Plan that will take shape during 2024.

The Conference of Religious in England and Wales 11

Report of the Executive Committee Year to 30 September 2023

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. 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 Religious and lay people who participate in aspects of CoR such as its Finance Committee and in respect of safeguarding.

Reliance on limited income sources

The reliance on one single source of income continues to be a significant risk to the future ability of CoR to provide the service that the members require and. The main source of income is the membership fees which are decreasing as numbers of those in Religious life diminish. The number of members is decreasing, resulting in a decrease in the income derived from congregations. This is reflected once again in the budget for 2023/2024.

The Executive also recognises that it receives professional support from its professional advisors. 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.

CoR is administered by an Executive Committee, members of which constitute the trustees of the charity. At 30 September 2023, the Executive Committee comprised an interim President, and eight other members, as listed on page 1.

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 has been delegated to the General Secretary. The Executive Committee monitors progress by meeting bi-monthly.

The Conference of Religious in England and Wales 12

Report of the Executive Committee Year to 30 September 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Constitution (continued)

The Executive Committee also maintains financial control by approving the annual budget and receiving management accounts which are prepared on a quarterly basis by their accountants.

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 and other staff members 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:

The Conference of Religious in England and Wales 13

Report of the Executive Committee Year to 30 September 2023

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 current Secretariat for their support and commitment to CoR throughout this difficult year.

Signed on behalf of the Executive Committee:

Member of the Executive Committee Member of the Executive Committee

Approved on:

The Conference of Religious in England and Wales 14

Independent auditor’s report Year to 30 September 2023

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 2023 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 15

Independent auditor’s report Year to 30 September 2023

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.

The Conference of Religious in England and Wales 16

Independent auditor’s report Year to 30 September 2023

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:

The Conference of Religious in England and Wales 17

Independent auditor’s report Year to 30 September 2023

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 2023

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.

1 May 2024

Buzzacott LLP 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 19

Statement of financial activities Year to 30 September 2023

Notes Unrestricted
funds
£
Restricted
funds
£		 Total
funds
2023
£		 Total
funds
2022
£
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 before investment gains
(losses)
4
Net investment losses gains (losses)
8
Net expenditure and net movement in
funds
Reconciliation of funds:
Fund balances brought forward at
1 October 2022
Fund balances carried forward at
30 September 2023
19,088

130,195
—

—
19,088
130,195		 16,015
161,387
149,283
—		 149,283 177,402

258,427
—


258,428		 235,093
258,428
—		 258,428
235,093

(109,145)

27,517
—

—
(109,145)

27,517
 (57,691)
(58,545)
(81,628)
1,143,799
—

53,624		 (81,628)


1,197,423		 (116,236)
1,313,659
1,062,171
53,624		 1,115,795 1,197,423

All income and expenditure in the year to 30 September 2023 related to unrestricted funds. Expenditure for the year to 30 September 2022 included £6,582 in respect to restricted funds (see note 13). All other income and expenditure in the year to 30 September 2022 was unrestricted.

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 20

Balance sheet 30 September 2023

Notes
2023
£		 2023
£		 2022
£		 2022
£
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


5,324
150,000
116,455		 3,130
962,345		 4,106
150,000
109,002		 5,410
984,829
965,475
150,320		 990,239
207,184
271,779

(121,459)		 263,108
(55,924)


1,115,795 1,197,423
96,696
3,130
962,345		 153,560
5,410
984,829
1,062,171
53,624		 1,143,799
53,624
1,115,795 1,197,423

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

Member of the Executive Committee: Member of the Executive Committee

Approved on:

The Conference of Religious in England and Wales 21

Principal accounting policies Year to 30 September 2023

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 2023 with comparative information provided for the year to 30 September 2022.

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. These include assessing the impact of Covid-19 on the charity’s income, expenditure and financial position (see assessment of going concern below).

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.

Free reserves at 30 September 2023 stood at £96,696 (2022 £153,560). Comparing this to the charity’s reserves policy set out above, the charity’s free reserves are slightly below the level required. However, the Executive Committee believes that the reserves will be sufficient to enable CoR to continue to operate and do not expect material concerns to arise over the charity’s financial position. The Executive Committee, therefore, is content with the level of free reserves which will be reviewed again in the light of the Strategic Plan that will take shape during 2024.

The Conference of Religious in England and Wales 22

Principal accounting policies Year to 30 September 2023

Assessment of going concern (continued)

The Executive Committee believes that the reserves will be sufficient to enable CoR to operate 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 and financial contributions towards meetings.

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.

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.

The Conference of Religious in England and Wales 23

Principal accounting policies Year to 30 September 2023

Expenditure recognition (continued)

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.

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value is 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.

The Conference of Religious in England and Wales 24

Principal accounting policies Year to 30 September 2023

Cash at bank and in hand and short term deposits

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 three or more 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 2023

1 Income from investments and interest receivable

Unrestricted
funds
£		 Restricted
funds
£		 2023
£		 Unrestricted
funds
2022
£
Investment income
. Unit trusts and common investment funds
Bank interest		 16,110
2,978
—

—		 16,110
2,978		 15,867
148
19,088
—		 19,088 16,015

2 Income from charitable activities

Income from charitable activities
Unrestricted
funds
£		 Restricted
funds
£		 2023
£		 Unrestricted
funds
2022
£
Membership subscriptions
Meetings
Other income
Grants receivable		 98,920
20,383
215
10,677
—

—

—

—		 98,920
20,383
215
10,677		 139,373
8,049
—
13,965
130,195
—		 130,195 161,387

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

Direct
staff
costs
£
Other
direct
costs
£
Total
Direct
costs
£



Support
staff
£		 Other
support
costs
£		 Total
support
costs
£



Total
2023
£
Safeguarding
Members Meetings
Advocacy
Vocations
Development
Communications		 4,886
16,593
11,706
—
7,679
8,477
—

13,834

—

14,000

—

—
4,886
30,427
11,706
14,000
7,679
8,477
5,863

19,909

14,046

—

9,214

10,172
12,086

41,042

28,956

—

18,995

20,970
17,949

60,951

43,002

—

28,209

31,142
22,835

91,378

54,708

14,000

35,888

39,619
49,341
27,834
77,175
59,204
122,049
181,253
258,428
Direct staff
costs
£
Other
direct costs
£
Support
staff costs
£
Other
support
costs
£		 Direct
staff costs
£		 Other
direct costs
£
Total
2022
£
Safeguarding
Members Meetings
Advocacy
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

—

—
—

—

—
—
—
—
—
—
—		 28,468
54,267
33,325
12,000
47,603
59,430
76,979
22,820
40,995
87,717
6,582
—		 235,093

The Conference of Religious in England and Wales 26

Notes to the accounts Year to 30 September 2023

4 Net expenditure before investment gains (losses)

This is stated after charging:

2023
£		 2022
£
Staff costs (note 5)
Audit costs including VAT
. Statutory audit services
Depreciation		 108,545
9,701
2,280		 124,556
7,273
2,099

5 Staff costs

Staff costs
2023
£
65,192
40,000
3,044
309
108,545
—
108,545
4,886
16,593
11,706
7,679
8,477
43,978
15,226
108,545		 2022
£
Staff costs during the year were as follows:
Wages and salaries
Severance costs
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
124,556
19,080
124,556
11,206
17,103
13,118
18,739
23,394
19,144
21,852
124,556

One employee was paid between £90,000 and £100,000 per annum or more (including benefits) during the year (2022 – none). During the year the charity paid a severence payment totalling £40,000 to one employee (2022: £nil).

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

Secretariat (safeguarding, advice and information, members’ meetings,
advocacy, vocations, formation)
Support		 2023
No.		 2022
No.
1.2
0.2		 2.3
0.4
1.4 2.7

Remuneration of key management personnel

The members of the Executive Committee, together with the General Secretary, comprise the key management of the charity.

The Conference of Religious in England and Wales 27

Notes to the accounts Year to 30 September 2023

5 Staff costs (continued)

Remuneration of key management personnel (continued)

The remuneration paid to key management personnel during the year ended 30 September 2023 was £93,365 (2022 – £50,507).

No member of the Executive Committee received any remuneration in connection with his or her services during the year (2022 – £nil).

Two members of the Executive Committee was reimbursed expenses during the year of £1,254 (2022: £nil) 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

Tangible fixed assets
Office
furniture
and
equipment
£
Cost
At 1 October 2022 and
at 30 September 2023
Depreciation
At 1 October 2022
Charge for year
At 30 September 2023
Net book values
At 30 September 2023
At 30 September 2022		 9,123
3,713
2,280
5,993
3,130
5,410
Investments 2023
£
Listed investments
Market value at 1 October 2022
Disposal proceeds
Realised gains on disposal
Unrealised investment gains
Market value at 30 September 2023
Cost of listed investments at 30 September 2023		 984,828
(50,000)
1,838
25,679
962,345
642,324

8 Investments

The Conference of Religious in England and Wales 28

Notes to the accounts Year to 30 September 2023

8 Investments (continued)

At 30 September 2023, the listed investments comprised holdings in the following two Common Investment Funds managed by CCLA Investment Management Limited:

Holding Market
value at
30 September
2023
£		 Percentage
of portfolio
%
COIF Charities Ethical Investment Fund Income Units
COIF Charities Ethical Investment Fund Accumulation Units		 522,560
439,785		 54.3
45.7
962,345 100.0
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 Debtors

Debtors
2023
£		 2022
£
Prepayments and accrued income 5,324 4,106

10 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2023
£		 2022
£
Membership subscriptions received in advance
Accruals
Other creditors		 80,325
21,580
19,554		 33,818
12,699
9,407
121,459 55,924

The movement in membership subscriptions received in advance is reconciled below.

2023
£		 2022
£
Deferred income brought forward
Released in year
Deferred in year
Deferred income carried forward		 33,818
(33,818)
80,325		 37,055
(37,055)
33,818
80,325 33,818

The Conference of Religious in England and Wales 29

Notes to the accounts Year to 30 September 2023

11 Tangible fixed asset fund

Tangible fixed asset fund
2023
£		 2022
£
At 1 October 2022
Movement in year
At 30 September 2023		 5,410
(2,280)		 3,552
1,858
3,130 5,410

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
2022
£		 New
designations
£
Utilised/
released
£		 At 30
September
2023
£
Capital reserve fund 984,829 (22,484) — 962,345
At 1
October
2021
£		 New
designations
£
Utilised/
released
£		 At 30
September
2022
£
Capital reserve fund 1,043,373 — (58,545) 984,829

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 2023

13 Restricted funds

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

At 1
October
2022
£		 Income
£
—
Income
£
—		 Expenditure
£		 At 30
September
2023
£
Safeguarding project 53,624 — 53,624
At 1
October
2021
£		 Expenditure
£		 At 30
September
2023
£
Safeguarding project 60,206 (6,582) 53,624

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
£
—
962,345
—
962,345
Designated
funds
£
—
984,829
—
984,829		 Total
2023
£
Fund balances at 30 September
2023 are represented by:
Tangible fixed assets
Investments
Net current assets
Total net assets		 —
—
53,624
—
—

96,696		 3,130
—
—		 3,130
962,345
150,320
53,624
96,696		 3,130 1,115,795
Restricted
funds
£		 General
funds
£		 Tangible
fixed
assets
funds
£		 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
53,624
153,560		 5,410 1,197,423
Total
2023
£		 Total
2022
£
Reconciliation of movements in unrealised gains on investment
assets:
Unrealised gains at 1 October 2022
Net unrealised gains (losses) arising in the year
Unrealisedgains at 30 September 2023		 313,151
6,870		 371,696
(58,545)
320,021 313,151

The Conference of Religious in England and Wales 31

Notes to the accounts Year to 30 September 2023

15 Financial commitments

At 30 September 2023 the charity was committed to pay £12,000 in respect to rent and service charges payable (2022: £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 congregations to which the members of the Executive Committee belong made contributions to the charity totalling £20,405 (2021 – £18,430). These contributions consist of membership fees and donations.

During the year, the charity incurred rent and service charges totaling £12,000 (2022 - £12,000) payable to the Poor Servants of the Mother of God (PSMG). PSMG, are members of the Conference of Religious in England and Wales.

The Conference of Religious in England and Wales 32