Charity regisiratioii nuM￿r.. ?82448 Patriarchal Stavropegic Monastery of Saint John the Baptist Annual RCWTI and FinanLial Stal¢mentr lor the Ye￿. Ended 31 DecL4nb¢r ?024 Jusi Audit & Assurance Lid 37 Markct Squarc Witney OX28 6RE Patriarehal StAvropegic Monastery of Saint John the Baptist Contents Rcftrcncc and Adrninisirative Details Trustees, Repori 2105 Siatetnenl of Tru51ets' RtspDnsibilili¢s Independent Audiiors, Repori 7t09 Siaiem¢nt of financial Activities 10 Balance Sheet Cash flow Siat¢tn¢nt Note5 to the Financial Stalemenis 13to23 Patriarchal Stavropegic Monastery of Saint John the Baptt5t Reference and Administrative Details Tru5tee5 The Very Reverend ATehimxrtdri¢e Pd¢r Thotnas Carter Nicholas Mcudc Danicl Mccarthy 282448 Chartty RegistrAtion Number PriDcip¥I o￿lee The Old ReLtory Tollc5huni Knights CM9 8EZ Auditor Just Audit & Assurktnce Ltd 37 MarK¢t Square Wilncy OX28 6RE Ae¢ount*nts Re¢sRussell LLP Accountant 37 MarLct Square Wiiney OX28 6RE Bankers Barclays Bank PIL Le1C￿ter LE87 ?BB Lloyds TSB Bank Pl¢ Market Square Aylesbury BXI ILT FixAnciAI Adviser Fairstone Financial Managemeni Limiied Chiliem Couri 13ack Street Wendover 111)22 6LP Soli¢itors Ba¥¥tree & Sons 65 Nc%¥land Sirtct Witham CM8 IAB Page I Patriarehal Stavropegic Monastery of Saint John the Baptist Trustees, Report -rhe Irust¢cs prehent the annual report together willi th¢ financial staiemenis of the Lharity for Ihe year en(kd 31 DeceTnber 2024. Objeetive5 #ttlvlties Objecls uinis The chamiy was created to provide a monastery and Ihereby promote the ChTislian Orthodox faiih. li currenily nuTnherg 19 Inonks. 31 nuns 2nd 2 p05tulanls la5 ai 31112120?3.. 19. 31 and I respcciivelyl and &tyepls ¢dndidales of all nationalitics. lkne mona5terv is open lo the public ivlio are iyelcorncd 10 ils daily sLrvices and other acliviiies. or use ils faciliiies for ¢ouns¢lling and spiritual and mcntal regenerniion. The larg¢ number of such visitors rcquired t aquibition and conversion oladditivnal pretlliS¢5 for Ih¢iT Use. It has a bookshop IOT the sal¢ of books and other articles relevant io Orihodox Chri$ii8nily. Membcrshtp of the Monasicry, requires taking a voiv of ￿verly. and to eiiablc meinbers io fulfil IhLir lifelong commiimLni to full lime ¥York. wdlis. in ils serviLe. Ilie Monastery provides for thc basic needs boih of a¢iive tnetnlrr5 and ofilK)5c in r¢tir¢iiienl by Irason ol-age or inlirmity. While the number ofr. ils rnenibership is ivelcorne. Ihe qualiis, of mcmbership 1$ not an objectii'e capable of quantifying las ekpcctcd by Ihe SI8ILtncnl of RLcotnmendLd Practi¢¢l. The Tru51e¢s' plans are 10 continue 10 CKPdnd Ihe MonasieTV. bul the number land upabililiesl ol. ¢andidates 15 beyond ihc Trustees, ability io influence ¢x¢epl in50faT as Ihe Monastery display& by pirc¢pt and examplL. tlie beneliis li can orrLr. Page 2 Patriarchal Stavropegic Monastery of Saint John the Baptist Trustees, Report {continued) Sigiiificanl ucliviries 'l-he Cominunity is continuing lis vital paS￿ra1 aclivilies. including daily serVi￿S, Iveekly Zoom tReeiings for dults, weekly ialks for adults. a ihildren s Clubhouse. our ongoing hospiiality ctforls. In ?024. like in Ilic previou5 year. lhe￿ h(t5 been a significant incr¢a8e iii the nuinbcr ot- pilgrims. Chrisiians trom various denominations, as well as individuals seeking peace. have found reluge in iheir guesi houscs and pariiLipaiLd in Ilie 5er¥ices. Additionally. lock)I groups surh as U3A. liisloi'i¢al %oLi¢lie5. V151tors Iroin local resort places. and Christian organisations reEul8rly visit to cnjoy Ihc ariivork and Ihc Iraiio,uillil)' ot'our gardcns. An Opcn Day has been held annuall). ai Ihe requcsi ofihc local Lommiinity for the pagi 36 years. ID 2024. tht charity welcomed a record numt¢r ofvisiiors. including manv frorn across the wider countie5. Metnbers of the Community aGtiv¢ly support young by wliGipating in youth m¢¢ling5. Chri51ian youih mps. dnd conferences. Through Ihtte a¢tivities. they offer Christiaii guidance and cncouragcmcnt to help young people nai'igaie Ihe thallcnges ofmodem life in a faiili-based coniexi. In addition. member5 lake pan tn ¢lergy ¢onf¢r¢nces aimed at strengthening biblical undersianding and addressing nletnporary issiies IdLtd by chui'ch leaders. This Increas￿ influx ot-pilgrims has posiiively impa￿ed donations and bookshop revenue. A substantial portion or rhese funds has reinvesied into Ihe hospiialiiy services. Ihe mainitnancL ofthe facililies. Ond ii)051 nQiably. Ihe ¢onstru¢iion ot. a ncw Round Chapel dedicated lo th¢ fath¢i' l.ouDder ot Ihc Cominunily. Ivhich is ncaring ornpletion. FurtheiThore. thes¢ resourccs have cnabled Ihc continucd advancernent of Ihe Communily"s publishing rnini51ry. faciliidling the produciion and ditsiribution vf Christian lil¢ralur¢ in print. e-book. and audio fortnais for ihe spiriiual Dctit of Teadcrs. Public beiieJ71 The rnona5tery is open io th¢ public i%'ho arc ivelcotncd lo it% daily %eri'ice5 and other aclivities. or use lis faciliiies for ¢ounselling. spiriiual and tnental advice. offeird freely by membeis tliroughout the ycar. Sci'ci'al ol'iis mcmbcrs offering counselling iv¢re prolcssionally qualified belore enreriiig) monasticisrn and so can providL assistsince in a way rarely available in the public ficld. Th¢ tnonastery also ol'ftrs to Ilie public accgtnrnodalion and tn¢a15 Wlthoiil obligation, even to atteiid ils cliapel or ¢huT¢h services. io anyone ivaDting r¢5Plte from the pre55ure5 Ot Ihe oiil5Tdc ivorld. Th¢ significant and increasin8 number of visiiors has Lrcaied the need for additional 3fWtnmodaiioD aiil in due ¢ours& a laTg¢r chapel within the Monastery grounds. I'hc new Chapel. dcdicaled io the faihcr Foundcr, siands as a 1¢slatneDt lo Ihe Monastery s enduring spiriiual h¢rilage and its coillmiimeni 10 nurturing prayLr. renl￿10ft. anil felloivship atnong all who visii. Vi51tors fTOtn a wide range of background$ find $olace within th¢ MotH51¢iy s peaceful surroundings. They are able lo refleci on the beauty of Christian arl displaycd Ihroughoui lis buildings pariicularly iviihtn Ihe chapels and ref¢clories and to draiv pcace and inspiration Irom ihe rich orihodox ITadiiion and the ettle%iastical tnusi¢ cxprcssed irt a varieiy of 51yles. Page 3 Palriarchal Stavropegic Monastery of Saint John the Baptist Trustees, Report (continued) The trustees confirtn that they haye complied with the requ1rern￿ts ol'seciion 17 vf th¢ ch￿.111¢5 Act 2011 io have due regard to the public FKn¢fii guidancc publishcd bs. the Charily CoTnmi&sion tor r.ngland and Wales. Structiire• governance and management Nulure ofgovérning iloeunien¢ The monastery wa5 established on 25th February 1965 by the Pairiar¢h of Con51antinoplc and 115 Foundcr and lirsi Supcrior ivas I'lie Very Rcverend Ar¢hitnandi'ite Sophrony. li was establislied as an English charilv bv a ronv¢vanc¢ 10 trustees daicd Isi August 1967 and a Conliriraiory l)eed Dealin8 ¥%ilh CliaritablL Sialus dated 18th MJrcli 1981 and Irgi5tered at the Chariiy Commission as the Communily of Saint John the Baptist under rcgisiration nUrn￿r ?8?448. Recrui1￿e￿I &ndappDinlJJten¢ ofimslee5 The poivei. ofappointing additional Trusiee8 is vested in Trustees. ArMngemeni& Jor settiNg key mrtnligemenlpersonpel remunerftlio The V. R¢v. Archim. Peter 15 a nieinber ot'the Mona51ery' and as Such, his living 2nd other ¢xp¢n5¢8 througliout the year were ix>rne by Ihe Charity. No Trustee reccived anv remuneration or reimbursetnent of extKnse5 during Ihc current or previou5 year. Wilh the consent of ihe Charitv Cotntni5510ll. tlie Monastery has paid a premium for Trustees, irLsurnn¢¢. Th¢ ¢hargc in ihes¢ accounts is £2,39512023 £2.2591 iiicluding Iiisurancc Premium Tax. The day-lo-day activtlivb ar¢ in the hand5 of th¢ Superior of the Mon8siery. a perm8n¢nt appointtnenl made bv common conscnt and election of lis memlK'r8. 'Fhe Monasiery 15 directly re5ponsibl¢ lo Ihe Patriarch or Consiantinople. Page 4 Patriarchal Stavropegic Mon#stery of Saint John the Baptist Trustees, Report (continued) M￿j￿r n$k$ ofihtsse risks The Inajor risk5 10 Ivhicli the chariiy is exposed. as ideniilied by ihe Trustees. have been r¢'vi¢wed and SyS*iiis hai'e been c5tabli5h¢d io tniligol¢ those risks. FinAntixl instruments Objertives (Indpolicies Inve￿IMe1)I poliLS' and reserves As ihe mernber5 of the Mon￿1¢￿ can £ir¢a it 10 SUPPOTI ihem for Ihe ivhole ofiheir lives. Ihe poieniial long-ierm rcvLnUL Lxpendiiure is siibsianiial. There can be no gLiaraniL* Ihai the current level ol. doiialiuns ivill coiilinue indefinitely. Thereloie, Ih¢'l'rustee5' policy 15 10 inv¢51 on a long term basi5 and fvnd even capit81 expendiiure oui ol- surplus invcsiment incorn& Ir. as is hoped. th¢ Monasierv expands andlor arLracts more visitors even more ¢apiial cxp¢ndituir ivill t¢ required. IvhiLh will also have to be lunded Irotn its inve5tynent5. The large number of visitors ihe Mon&%lery receive5 alreadv siirich ils f2ciliiies and a larger chapel and addilional residcniial accominodalion are already seen 10 be IfLiuircd. Wilh this in mind. the Ti'u8iees' objeciives are io maximise iotal lunds on a long-l¢rm basis with a ivide riingL of invc5ttncDls ol-rnoderalc risk Iiviih ali appropriaic proporlion in Govemtnent Siockl leaving social. envir0￿mental and ahical considerations io Ihc rnanagers of rhe funds in which th¢y invest. Invesimeni Power5 Invi%iment decisiorts ivere taken in 8ccordan¢e iviih the provisTons of the Trustee Act 2011. Th¢ annual rcp 5 approved by lh¢ Iruslee5 011 sigii¢d on ils khaifby.. Rev￿cn Architnandrile Peter 'rhOrna￿ Cartcr Trust Trus1¢¢ Nieholas M TTUStte iel McC2rthy 'I'ru5¢ee Pagc 5 Patriarehal Stavropegic Monastery of Saint John the Baptist Statement of Trustees, Responsibilities The Irusi¢¢s are resFK)n5ible for prepHring Ihe Irustees, repori and the financial siaiemenis in aceordance iyith Ihe United Kiiigdom Accounting Standard5 Iunited Kingdom Gcnerally Acccplcd Accounting l>rnclirel and applicablt law and regulaiions. Th¢ law applieable to ¢haritie5 fcquiTes the iruste¢% io prepare firkincial sialtmenis for cach financial ycar %vhich givL a Irue dnd fair vieiv of tlic siaie of affairs of Ilie Lhariiy fjnd of ihe in¢oming resourceb and application of rcsourccs ol-the charity for ihai period. In prepai'iiig these liiian¢ial sial¢in¢Dis'. tlie trusl¢¢s ar¢ iYquir¢d io.. select 5ui18ble accounting poliLies and thcn applj iliein consisienily.. observe the meihods and Principles in th¢ Chariii¢s SORP., mak¢ judgernents and e5tirnalcs that are Tc050noblc and prudcnt., siaic whether applicable accounliiig 51aDdards liave b¢Ln fglloivcd. subject lo any niaterial dcpartiires di5closcd and explaincd in Ihc f1nancial SLltemcnis,' and prepare the financial 51arenicnis on Ihc 80ing concem basis unle55 il 15 inappropriate io presume that ilie charil). will continue in business. Thc Irustccs are Tcsponsible for kccping propv accounting records thai di8close with reasonable accurac). ai ans, lime thL linan¢ial position of Ihe charity and enabl¢ ihetn ￿ ensure Ihth the finthLidl sldlemenis Lvmply i&iih Ihe Charilie3 Act 21)] I, Ihe Chariiies (Aixounis and Reporisl R¢gulaiion5 2008, and ilie sYOVi5ions of Ilie coiisiitutioii. 1.he tl'U51ccs arc al80 reS￿nsible for bufeguarding Ihe asseis ofihL charilv and hence for taking rcasonable sicps lor tlie prei'eniion dei¢Glion of fraud and other iTregularili¢5. The annual repon pproved by iht Irusiets oii................... and signed on its behalf by.. The Vcrj R'v¢r¢nd Archimandritc Peter Trustee 'rhornas Cartcr Trustee Icliola5 M Trustce Mccarihy It Pagc 6 Patrlarchal Stavropegic Monastery of Saint John the Baptist Independent Auditor's Report to the Members of Patriarchal Stavropegic Monastery of Saint John the Baptj51 OpinÈoii We have audited the financial 51alem¢nls ot. Patriarchal slavr0￿giC Mona51¢ry of Saini John thc Bapiist {IhL 'charily'I for the ycai. cndcd 31 De￿mber 20?4. which cornprisc ihe StaiLm¢nt of Financial A¢tivilies, L4alance Sheel. Cash flow Siateinent. dnd Noles to th¢ Finan¥iul SiJlement5. including a surninwy of 5ignificanl accounling policics. The finoncial rcporling Irameivork. thai ha5 applied in iheir prcparation is Uniied Kin8dom Accouniing Standards. comprisin8 Charities SORP - FRS 102 'The Financial Reporiing Standard applicable Tn the UK and IlepiibliL ol'lreland, and applicable laiv (United Kiiigdotn G¢n¢i4lly Accept¢d ALLouniiiig Praclic¢l. In our opinion Lhe lin2ncial sto*mentg'. give a irue and faiT viei%' of thc state ot th¢ charity's uffaiT5 as at 31 Deccinbcr ?024 and of lis incoming rcsoiircc% and applitation of resouires. including lis iniorne and expenditure. foi. the year Ih¢n ended.. have been properly prcpared in aux)rdan¢e %vith Unit¢d Ktngdom Genernlly A¢¢epted A¢¢ouniing Pra¢ti¢e'. and hav¢ been prcparcd in accordance with the requiremcnis Df the Charities Art 2011. BASIS for opinion We conducted our audii in a¢wrdance with International Siandard5 on Auditing IUKI IISA5 IUKII and applicable law. Oui. responsibililies under those 51andard% ar¢ furtli¢i' described in the auditor responsibilities loi. tlie audit ol- the financial staternent5 section of our report. Wc arc indcpcndcnt of ihc charii), in accordanLc ivith ihL cihical rcquiremenis that are relevant 10 OLir audil of Ihe finaiicial siatem¢nis in the UK. includino Ihe FRC'S EihiLal Standard. and we havc fuifillcd our othcr ¢ihical lrspoii3ibilities IR accordance with th¢5e r¢quiremenl& W¢ b¢li¢v¢ that the audit evidence we have obtained is sufficicnl and appropriaic to provide a basis tor our opinion. Conclusions relating to going tonccr In auditing th¢ financial siaiemeiiis. %¥'e have concluded Ihai ihe Irusiees use ofihe goin8 conLern basis ol'accouniing in the preparation ofthc financial $iaietnenL8 is appropriaiL. Based on Ihc ivork Ive have pwformtd, we liave ngl idcnlilicd any tnaterial unc¢rlaintie5 Irlaling lo events or conditions that. individually or colle￿Ive1Y. may casi significani doubl on chariiy's &bilitJ io conlinLlC as a going conLCI-n lor a rKrioiJ ofai le&qi i%¥elve monihs Iroin ivlien the orib>inal finanLidl siaiemenis ivere auihvrised fvr i5SU¢. OUT respunsibiliiies and the responsibilTties of the tTusiees iviih Tespe¢i to gtsing ¢on¢em are describthl in ihe relevant ion5 of this ttwri. Other information The trustees arc respon%ible for thc other inlormation. 'I"lic oiher informaiion compri5CS the inlormalion includcd in Ihc aiinual rerx>rl. othcr than the tinancial siaiemenis and our auditor s rL'Wrt Ihereon. Our opinion on the finanLial staicment5 does nol cover Ihc other infortnalion and. excepl lo the exlenl oiherivi5e explicitly stated in gur report. Ive do not expTe5s any form ofassurante conclu$itsn therton. In wTrneclion with our audit ot. the linancial 51aletn¢nt5. our responsibility is to read the other inlorrnation and. in doing so. consider wheiher ihe other information is matei'ially iRcon5isient iyith the tinancial Sialem￿lS or our Lnowledge ohiained in the aLidii or oihLrivisL appears 10 bc Inaierially missiaied. Il. we identify sucli maierial ineonsi8tLn¢ies or apparcni Tnaierial tniutaietnenL8. i%'e aTe Irquircd to dctcrmin¢ whcthcr tlici'c 15 a inotci'ial missiaitnient in th¢ fiiiancial staiernents OT a material niissiaiem¢nL vf Ihe other inf0ml￿10A. If. based on lh¢ wvrk wc havc pertormLd, WL Conclude that there is a rnaterial Ini551aiemeiil of Iliis oihei. iiiforiiiation. li'¢ air Kqiiired lo report that fo¢t. Page 7 Patriarchal Siavropegic Mojbastery of Saint John the Baptist Independent Auditor's Report to thc Members of Patriarchal Stavropegic Monastery of Saint John the Baptist (continued) We have nothing to repori in this regard. Matters on which we are required to report by exception In tl)e light of. our knoivlcdgc under51anding ol- the cliarily and its Cnvironmerti obtained in Ihe course of lh¢ audii. we have noi ideniifl￿ maierial missiaicmcnis in Ihc Trusiccs. Rcwn. We havc nothin8 to report in re5PLLI of IhL lollo%%'ing Tnaiiers ivhere the ChariiiLs IAccounis and RLpoMI Regulaiion5 ?008 Tequire5 US to report lo you it.. in our opiiiion.. adequaie accounting Ircords havc noi been kept. or rciums adequate for our aiidii have not been r¢c¢ii'cd from branches not visilcd by us: or the fiiiancial siaicmcnts ar¢ not ID agr¢etncnt ivith the at¢ounting recoid% and returns; or certain disclosures of trust¢C5 FemuncTation spccificd by laiv are iiot madc,. or we have not received all the inlortnation and ¢xpl?iialions w¢ r¢quire for our audil. Rtsi>onsibilitiÈs of trustees As explained more fully in t1￿ Sialeinent of Irusiees, Responsibilities (set out on page 61. the Irugt¢¢s aTe resrK)nsible for the preparation ofthc financial siateinenis and for being saiisfied Ihai tlie), gil'e a true and fair viJY. and for such inicmal conlrol a5 the Iruslecs delcTTninL 15 llLCL'55aly to Lnable Ihe pr¢paTaiion of financial SLlternenl thyi arL free from material misstatement. 14'hetheF due to fraud or error. In preparing the fInanci4151atement5. the trust￿5 arc re5pon5iblc for a55C55ing the chaTity'5 ability lo continue a5 going concern. di5closin& as applicable. matiers relaiLd 10 goit)g concern and using ihe going concem basis 01. aceounling unle55 ilie Irusiees LiihLr iniend 10 liqiiidaic Ihe chariiy or 10 cease operations. or havc no rcalisiic alteTnaiive bui io do $0. Alldltor Rèsponsibilities for the audlt of the finAnclAI stAtemet)ts Oui. objecii¥'Ls are l() obtJin reasonable assuranL¢ aboui ivheth¢r Ihe finan¢iul slatemenls as a whole ￿ free froiii tnaierial [ni￿Statelli¢nl. %vlietli¢r dur 10 Iraud or eriDT. and 10 issue an audiior s repori th81 Includes Olir opiiiion. R¢fjsotyabl¢ assur2ncc is a high levil of&ssurancL. bul i% noi 8 guaTaniee Ihat an aiidit conducied in accordance wilh ISA5 IUKI iiill alivays dL*l¢rl a mat¢rial mi551alL￿￿L￿l 14'liLn il exists. Mi5stalLmLllts Lan aribL Itoni Iraud or LfwF and arc considcTcd tnalerial it.. individLHlly or iii Ihc aggrcgale. tl)ey could rca%onably k CA ￿rIcd lo influcncc thc economic decisions of usws t8k-cn on thc basis ot'ihcsc linancial statcrnents. The extent to which our proe¢dur¢5 are rapablt ot'dciecting itre8ularilies, including frnud is detailed bclo%v'. Pag¢ 8 Patriarehal Stavropegic Monastery of Saint John the Baptisl Independent Auditor's Report to the Members of Patriarchal Stavropegic Monastery of Saint John the Baptist (Continued) Our assessmeni fvtyused on key la1¥5 and rcgululions the Cliariiy ha5 to Loinply with and ar¢a5 01- thi fiii4iicial siaicmenis wc assessed a5 betng morc susccptibl¥ to missialonenl. 'I'hese key laivs and regulalioiis iiicludcd bul were noi litnited io compliance with ihe Charities Act ?01 l. Uniied Kingdom Generally Accepied Aecouniin Praciice an(J relevani i&x lcgislation. We are not rcspon5ible for prevcnting irregularitie& Our approach lo delect irregularitie5 included. bui Iva5 nol limitcd to. the lollo¥ving'. obtaining an understanding of the eniity's policics and procedurcs and hoiv the eiilily ha5 ¢Otnplitd iiith these. through discussions and sample ILsiing ol'conirols., obiaining an undcrslanding of thc Icgal and rcEulaior)' Irtun¢%vork applicablc 10 the cntiiy and how the cniiiy is totnplyin? with Iliat frameivork,. an iind¢rsrandins oftlie ¢ntilv s risk ￿¥t$sInent pro¢c55. including thc I'isk of fraud. designing our audii Proccdurcs 10 respond io our risk asscssmcni; and perlortning audii %¥ork over the risk of tnanagLTnenl OYLrridL ol'Lonirols including evaluaiing the business ￿lOn81C of significant traii%actions outside the normal course ol-bLisine55 and revieiving estimates foi. bia5. A furiher description ol- our restKinsibiliii¢s is available on the Financial Reporting Council'5 website al.. %'.frc.OT&uklaiidiiorsrespon5ibililies. This dcscripiion lorrns pari ofour audiior s report. Use of our rtport This report is made solely to the charity tTUStee5. as a body. in a¢coTd4n¢e ivith se¢tion 144 tsf the Charities A¢t 2011 and regulaiions Inad¢ under 5eclion 154 of that Aci. OUT audit ivork h45 been undcrlaken so that iN'¢ Inighi slate lo the irusiccs those Tnatlers ivc are required 10 51aie to tru5tccs in an auditor5, rcport and lor no oihcr pur￿5¢. "I'o the rullesi exieni permiticd by laiv. Ive do noi acccpi or assumc responsibiliiy io anyone other ihan the chariiy and lis trusices a5 a bod),, fL)r our dudil ivork: for Ihis reptrrl, or foi- Ihe opinivns ivL hai'e formed. Jon&ihan Russell (Scnior Siatulory Audiiorl For and on behalf ofJusl Audil & Assurnn¢¢ Ltd. Siaiuior>' Auditor 37 Markcl SquaTe Witncy OX28 6RE 31 October 2025 Just Audit & Assiirancc Lid is eligible for appoinimeni as auditor of Ihc charity by virtue of lis cli8ibiliiy for appoinirneni as auditor of # companj under Section 1912 ot-the Companies Act ?006. Pag¢ 9 Patrlarchal Slavropegle Monastery of Salnt John the Baptlst Statement of Financial Activities for the Year Ended 31 December 2024 Unre5¢rÉct¢d Total 2024 Unrestricted 2024 Restrieted 2023 Ntste ltheome ind Endowm¢nt$ frofft: Donations and Icgacics 1.022.831 437.650 204.320 1.022.831 437.650 204.320 869.366 381.851 171 ?33 Investment incorn¢ To￿1 InLVSne 1.664.801 -664.801 1,4??.450 Expenditllre on: Raising fiiiids 1140.71?) 1806.ii41 li.1601 1140.71?) 1806.5541 168.0741 1726.i431 14.i6UI Govemancc costs 'I'oial Expenditur¢ Gainsllosse$ on investment aSS￿S 1952.4?61 1952.4?61 1799.1771 -548.575 Nei movcmcnt in funds 2.i25.687 2.525.687 2.171.848 RecontiliAtion of funds Total fuiid5 brought for¥i'ard Toial fund5 CaTTied fonvard 26.897.16? 10.580 26.907.74? 24.735.894 16 29.4?2.849 10.580 29,433,429 26.907.74) All ofihc charity's activities derive from c4)niinuing operaiions during ihe above Iwo p¢riods. The lunds breakdo%%'n for 2023 15 5hoivn in noie 16. Tht noics on page5 13 to 23 torm an iniegral part of tliese tinancial Stat￿nentS. Pa8L 10 Patriar¢hal Stavropegic Monastery of Saint John the Baptist (Registration number: 282448) Balance Sheet as at 31 December 2024 2024 2023 Note Fixed Asstts Tangible assets Invesimenis 6,919.230 21.10?.995 5.579.130 ?0.235.980 28.022.22i 2).81i.110 Current Xssets Siocks DcbtOTS Cash ai bank and in hand 303.092 265.821 .004.751 250.404 29.456 995 7?6 1,573.664 1.275.086 Credilors.. Amoullts fAlling due within one y¢gr Net eurrent Assets 14 1162.460) 1182.4541 1.411 ?04 1.092.632 Net a55ets 29.433.429 26.907.742 Funds of the th#rity= Restricted income fund5 ResiTlCted funds 10,580 10.580 Unrestricted In¢om¢ funds UnTeslTTCted fiinds 29,422.849 26.897.162 Total fun(Is 16 29,433,429 26.907.74? The annual ￿p0 approved by ihc trustees on................... and signcd on it5 behalf by.. Th¢ Trusicc everend rchimandrite Pffler Tlioinas Carter rusiec Nichol￿ Mcade Trustee I)aniel rA Truslee arthy The tjoies on pages 13 to 23 form an ￿ntegra1 part of these finan¢ial statements. Pagc 11 Patriarchal Stavropegie MonAstery of Saint John the Baptist Cash Flow Statement for the Year Ended 31 December 2024 2024 2023 Nott Cash flows from optrating Aetivities Net cash iiicome 2,525.687 2.171.848 Adjustments to eksh flows from non-cash ittms Depreciation Inve5tmeiit income Revaluation of investments 8.627 1204.3?01 11.50? 11,548.5751 516.682 463.542 Worklthg tapital adjustments Incrca%e in stocks 1lntreasel1decre￿¢ in debtors IDecTea5el/increasc in crcdiiors 152.688) 1236.3651 (19.9941 146.1171 25.248 9i.443 14 Net ca511 floivs trom opcraiing actiirjljc Castl nows from investing activities Interest I'eceivable and similw. income Purchase ofiangible fixed a55¢1s Sale of tangible tixed assets Sale of Inve￿mentS 907.63) 536.116 204.320 11.348.727) 171.233 11.i09.0201 500 903.615 10 946.?97 Nel cash floivs trom investing artivities Net increase in cash and cash equivalenis Cash and cash equivalents ai l J￿uary Cash and cash equivalents ai i l December 1433.6791 9.525 102.444 995.226 892.78? 1.004.7i I 995 926 All olthc cash lloivs are derived Irom continuing op¢ralioi)s during the above two periods. The notes on pages 13 10 23 form an integral part ofthese financial S￿leMentS. Pagc 12 Patriarchal Stavropegic Monastery of Saini John the Baptist Note5 to the Financial Statements for Ihe Year Ended 31 December 2024 l A¢¢ounting polities Statement of compliAnce I'he fiiiaiicidl siaieinen15 have been prepared in ac¢ordanc¢ wilh the second ediiion of the Charitie5 Sialeiiiei)l or Rccommended l)raclice issued in Ociobci. 2019. Ihc l-.inancial Rcporting Standard applicablc in the Unilcd Kingdom and Republi¢ of lirlatxl IFRS 1021 and th¢ Chariii¢s Aci 2DI I. Basis of preparation Palriarchal Stavropegic Monastery vfsaint Jol)n Ihe Bdplisi meeis Ihe definition ora public benefil eniity under fRS 102. Thc account￿ (financial slaiemenisl have beeii prepared undci. the historical cost coni'cniion ivith ii¢m5 reco8nised at cosi or Iransaction value unless oiher%Yise siaied ift the relevani notelsl io these accounis. Coing concer The trustees consider Ihai there are w tnaterial unL*riainlies a￿ul the eharity's abilily to contii)ue as a going ncem. Income #nd endowmetits Voluniary in¢oFn¢ including donaiioiis. gifts. legacies and grants IIMI provide core funding or are of a g¢ncral naiurc is rewgni5ed %%hrn the charity has ¢nliilemeni lo Ilie incotne_ IL is piobable thai Ihe income Is'ill be IEceiveil aiid th¢ amount can be mea$ur¢d ivith sufficient rcliability- Donalions and Itg*cies Donaiions are crtdiied when received. Legacies are credited ivhen ihere is certainly of recLipi and Ihe arnouni can be Tnea5urcd with Irasvnable Leilainty. Jiives1￿Ie1l[ incoine Dividends are recopJi5ed once the dividend li&% ￿en declared and notificaiion has been received of the dividend due. Bookshop The Si'. the charily is poientiallv ernpl froni taxation in respcct of incomL or capiial gains ieceii'cd wiihin caicgories covercd b), Chapter 3 1)a11 11 of the Corporatton A¢t ?010 or Se¢iion 256 of th¢ T&xaiion of ChaTg¢able Gains Aci 1992. to Ihe &xieni that Such incorn¥ or gains are applied ex¢lusiv¢l>' to Lhai'ilabl¢ piirpDbe5. Its trading aclii'ity is restricted to bwks and oiher iiems relating dire¢ily 10 OT¢hodox Chrisiianiiy and all lis inwm¢ is Iheretorc Lxetnpl IToin ta¥alion under Parl 10. Incoine Tay Act 2007. DepreciAtion #nd Amortisation tkpr¢cialion is provided on tangible fixed asseis $0 a$ io i%Yiie OJT d)e cost or valuation. less any estimaied residual valuc. over IhciT expected useful economic lif¢ 35 folloi%'s'. Asstt class Motor vchicles Futniluit fumishings and equipmeni Dtpr¢ciatton method rat¢ ?5Q/o fLdu¢ing balance Wriiien oifas incurred Where used foi. thc Chariiy's oivn purpo$¢ are not depreciaied bui are shoiNn ai cosi. or ¢51itnaled valuL ai the tiinL ol'rLLLlPt in the case ofgifts. F￿hOld land and buildin8S Page 14 Patriarchal S¢avropegic Monastery of Saint John the Baptist Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) Fixed #sset investments rixcd &sset invcstm¢nis. other than programme related iiivestmenis, are includcd al mark¢t i'alue ai Ihe balancL shL dale. Reali5ed ￿7n¥ 105ses on ini'esimenis are calculated a5 the diftcirncc b￿1vCen sales procecd% aiid their mark'et value at Ilie staii ol. Ihe yetr. or Iheir subsequent C051. and arc charged or rredited lo the Siaiemeni or rinancial A¢iiviiies in Ihc pcriod of di5P05al. Unr¢oli5ed gain5 and 105s¢s represent the movLmeni in tnarkd vulue5 during the year and are crediied or cliarged io the Stalemeni of financial Aciii'iiiLS based on ihL tnarkcl value ai Ihc >'car cnd. Bookshop Stock Stock is valued at the loivcr of ¢05t reali5able value. after due regard for ¢xeessive holdin85 ivhich are not expected to be sold in the foreseLable futute. Cg$h #nd cash equivalents Cash and ¢ash cquival¢nts coinprisc cash on hand and call depusils. and other 5hort-iemi highly liquid inv¢sliii¢nts that are readils, convertible lo a knoivn amount ol'¢ash and are 5ubjcct to an insignifieani risk of Change in value. Fund structure Unre5tricicd income fund5 are gener21 funds that are availabl¢ for use al Ihe irusiees, dis¢reiion in funherdnce of the objeciiyes of thc charity. Resiricicd income funds arc those donaloj for use in a pattiLular area or tor specific purwses. the use of ivhich is restiicicd 10 Ihat area or purpose. Pag¢ 15 Patriarchal Stavropegic Monastery of Saint John the Baptlst Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 2 Intomt from don#tions legacies Unrestri¢teil Total 2024 Total 2023 Voluntary income Donation5 and Icwie5 Legacies Gift aid reclaimed P¢n510ll5 Royalties 708.443 274.817 22.935 15.000 .6i6 8?6.616 li.160 4.783 -022.831 869.366 3 Income from ch#ritAbie activities Unrestricted Total 2024 TotAI 2023 Bookshop 437.650 381_851 4 Investment incotne Unrestricted Total 2024 Total 2023 Inicresi rcceivable and similar inconie. Inttrcst receii'able on bank d¢posilS Other invesimcni incomc 9.904 194.416 6.488 164.74) ?04.3?0 171.233 Page 16 Patriarchal Stavropegic Monastery of Saint John the Baptist Notes lo the Finaneial Statements for the Year Ended 31 December 2024 (continued) 5 ExptDditurt on rlising funds Investmevt mAttA£Èm¢nt costs Unrestricted funds GeDeral Tot#1 2024 Total 2023 Other investrnent management costs- AdTninislration of the invesimL*ts 14(k.71? 140,712 68.074 140.712 140.712 68.074 Total tosts 6 Exptrtditurt on charitable attivttie$ Unrestrieted Total 2024 Tolal 2023 G¢ntral Ilookshop Aclivilies undertaken directly 150.250 656.3U4 150,250 189.i17 537.026 806,554 806.554 7?6. j43 Total exi)ertditur¢ 7 An*lysS$ of governallce and support tosts Govern%n¢e t05ts Page 17 Patriarehal Stavropegic Mon3istery of Sgint John the Baptist Notes to the Financial StAtetnents for the YeAr Ended 31 December 2024 (continued) Um￿stricted funds Ceneral Total 2024 Totsl 2023 Audit fee5 Audit ofthe financial staiemenis 5,160 5.160 4.)60 5,160 i.160 4.)60 8 Tru5tee5 remuherAtion And expcnse5 During the year Ihe chariiy made folloiving Iransaciions wilh trusiees.. The Very Revtr¢hd Arthim•ndrite Peter The Vcry RcveTend Arcliimandritc Peter 15 a member ot the Monastery. and as such. his living and oihcr expcnscs Ihroughoui ihe year were bomc by the Charity No irusiee$. noi. any pcrsons connected with rhem, have received any rcmuneraiion from ihc tharity during Ihe )'ear. No trustees have rcceived any reitnbur5ed ¢xp¢n5¢5 froTn lh¢ charily during the ycar. 9 Ta%ation The charity is a Te8lStered chzrily and 15 IherefDTe exetnpt frotn ¢&Nation. 10 Tangible fixed a$$¢ts Propertie5 under tothstruttio LAnd And buildiD8S Furniture And equipment Motor Yehitles TotAI Cost Al l January 2024 Additions 3.i93.117 1.951.507 1,348.727 6.708 73.063 5.624.39i .348.777 At 31 December 2024 3.593.117 3.3ffl ?34 6.708 73,063 6.973.17? DepreciAtion At l January 2024 Charge for Ihe year 1.677 43.588 7.369 45.265 8.6?7 At 31 December 2024 2.935 50,957 53.892 Iyet book v*lue At 31 Dccember 2￿4 3,593.117 3,3￿.234 3.773 22,106 6.919.230 At 31 December 2023 3,593,117 1,951,507 5,031 29,475 i,579,130 Page 18 Patriarchal St#vropegic Monastery of Saint John the Baptis¢ Notes to the Financial Statements for tbe Year Ended 31 December 2024 {continued) Thc Church of All Saints. Tolle5hunt Kiiiglils. l.'ss¢x ivas sold lo th¢ Monasiery for £1.00 by Ihe Church Comrni55ioners on Ihc 3 Isi Dcccmbcr 1970. Bcing ol'an hisioric nature, convenliunal valualion Icchniqucs cannot bL' applied and no valth. is Ih¢r¢fvr¢ included in th¢ aciJ)unls. Oiher properlie5 are noi deprcciaied on Ihc ground Ihal it ivould be immatLTial, having regard to the long Irmaining ¢coiiomic life ot'ih¢ buildiiiBS. Pa8e 19 Patriarehal Stavropegic Monastery of S#int John the Baptist Notes to the Financial Ststements for the Ye#r Ended 31 December 2024 (eontinued) I l Fixed fisset invcstmeDts Oiher investments Listed investments Cost or VAluation At l January 2024 Revaluaiion Disposals 20 135.980 1946.2961 At 31 Deccmbei. 2024 21.102.99i Ntt book vxlue Ai 31 tkcember 2024 21,102.99) Ai 31 DecLmber ?023 2Q.235.980 2024 2023 MaieTial investments included therein iveff as follo%vs'. Dirnensional Iniemaiional CoTe Equity Fund IAc¢l Ml Select Managers North American Equity fund Inst Ilncl Ml Select Managers UK Equily fund Inst Ilncl Ml Select Managers Bond fund Insi Ilncl Vangua1￿ US Equily Index Ilncl Wellittglon Global Impaci N GBP (Accl IRE Janus Henderson Global Susiainable Equity I IACGI Ninety Onc Global Susiairtable Equity I IACGI Pictei Global Environmethal oP￿TtunItIeS I dy GBP Ilnc} l.ux Vanguard rrsE UK All Share Iiidex Unit TTU5t Ilncl JPM US R￿earth r.nhaDced Indcx Equity Aciivc UCITS ETFIJUREI Dimen5tonal Global Cor¢ fixed Income GBP (Accl Dimensional Glb Sh Term InV￿lMen1 Grade Fixed Inc GBP (Aecl Dimensional Emerging Mark¢is Core Equily (Acc} Schroder ISF Global Energy Transition GBP C (Accl LUX ?.449.096 ?,326.8?4 1,454,164 776.76) 676258 651.682 447.519 441.380 440.775 429,6 425.198 316.448 429.999 421,354 353 ?3? 345.403 339.179 311.196 291.1?7 289.622 Page 20 P&triarehal Stavropegic Monaslery of Saint John the Baptist Notes to the Financial Ststements for the Year Ended 31 December 2024 (eontinued) 12 Stock 2024 2023 Sto¢k5 303.092 250.404 IJ Dtbto 2024 2023 Trade debtors l)rcpaymcnE5 (hliei. debiors 70 3.968 934 ?4.554 265.751 265.821 )9.456 14 Creditors= amouDts falling wlthin ont year 2024 2023 Ti2de creditors 142,947 6.748 2.175 10.590 li8.369 i.474 8.621 9.990 VAT Oih¢i' Gr¢ditor5 Accruals 16?.460 182.454 IS Future exp¢nditure At 31 Dcccmber ?0?4 the .1 rusices have auihorised a turther sum ot'£250,000 for compl¢iion ofdcl'eloptnenl ivork concerning ihe Round Chapel ofwhi¢h gpproximaiely £3.055.464 has been applied to dale. The Trustees have also authorised £1.2m plus VAT iowards ongoing dcvelopmenl of the Church Hall and £1.6m plus VAT to%vard5 ￿ntIn￿d construction ofoffice and ivorkshop lacililics ai Hyland Nol P2ge21 Patriarchal Stavropegie Monastery of Saint John the Baptist Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 16 Funds Balance at 31 Balance At I January Other reeogniseil gAinslllossesl Re5ource5 expet)ded December 2024 resources 2024 Unrestricted General ?6.897.162 1.664.801 1952,426} 29,422.849 Rtstritted 10.580 10.580 Total funds 26.907,742 1,664.801 19i2.4261 ?9.433.429 Balance at Bxlance #t I J#Duary 2023 Other reeognise(I gAinslllossesl 31 Incoming resources Resources expended Dtctmbtr 2023 Unrestrlcted Gencral 24,735.894 1.410.241 1797.048) 1,629 1.548.075 26.897.162 Restricted 112,2091 110.5801 TotAI fund$ 24,735.894 1.429.450 798.677 l.i48.07i 26.907.742 17 Anilysis of net assets between fund$ Unrestricted funds 2024 RtstrittÈd Tangible fixed asscts Fixed as5el investmen C￿r￿n¢ assets CuTr¢nt liabilities 6.919.230 21.102.995 1,563.084 1162.4601 10.580 Total trl assas 29.422.849 10,580 Page 22 Patrlarehal Stavropegie Monastery of Saint John the Baptist Notes to the Financial Statsments for the Year Ended 31 December 2024 (continued) Unre5tritte(I funds 2023 Restricteil funds Tangible fixcd asscis ri¥¢d asset invesiments Curreni assets 5.579.130 20,235.980 1,275.086 1182.4541 10.580 '] olal net asseis 10,580 26,907.742 18 Related party transactions Therc i¥ere no Telated paily transactions in thc ytrdr. Pa8c 23 Patriarehal Stavropegic Monastery of Saint John the Baptist Detailed Statement of Financial Aetivities for the Year Ended 31 December 2024 Tot#1 2024 TotAI 2023 Intorn¢ and Endowrnents from: Donaiions and Icgacies lanalyscd Etlowl Charitable aciivitieb lanalysed b¢loi¥l Invesimeni income lanaly5cd bclowl Total income 1.022.831 d137.650 204.320 869.366 381.8il 171 ?33 1.664.801 1.42?.450 ExpÈnditure oh= Raising funds lanalysed below) Chariiable activities {analysed below) Governance cosis 1140.7121 1806.5541 15.1601 168.0741 1726_5431 14.5601 Total expenditure Gainslloss¥5 on investment a55e15 lanaly5ed bclowl income 1952.4?6} 1799.1771 1.548.575 2,5?5,687 2,171.848 Net moveinent in funds 2.525.687 2.171.848 Rctoncilixtion of funds Toial funds broughi forward Total funds ¢ari'ied foriyard ?6.907.74? 24.735.894 29,433,429 26.907.74? Thi5 page does not form part ofihc siatuior>' financial slat¢rnents. Page 24 Patriarchal Stavropegic Monastery of Saint John the Baptist Detalled Statement of Financial Aetivities for the Year Ended 31 December 2024 (continued) Total 2024 TotAI 2023 Donrtii0￿S 0ndIeg￿ties Pensions Legacics and beque51S Appeals and donaiions AprKals and donations Gift Aid iak i'eclaimed Royalties 15,000 274,817 15.160 12.209 814.407 708,443 ?2.935 1.636 4.783 1.022.831 869.366 Charilthble llc¢ivilies Sales of purchased good$ 437,650 381.851 437,650 381.851 InicfLs1 on cash deposits Income from other inve51menr5 9.904 194.416 6.488 164.74) 204.320 171 ?33 ChftriillbleAdivilies Bookshop Purchases liO.2iO liO_250 Oiher cliurit￿61e aciivilies Dcpi'ccialion ol. planl and machinery Depreciation of rnoior vehicles Establishment costs Properly repairs Maintenance charges SialTirainin8 Siatriraining Statfwclf21e Insurances Equipmcnt repairs and r¢nwals Printing, postage & station¢rv Chariiable donaiions 1,258 7.369 88.867 135.914 58.442 1,677 9.82) 72.401 84.683 45,480 1.629 188,423 35.461 68.827 10,379 24.156 169.093 29.400 49.327 8,879 26.338 This pa8e does not fortn part of the 51aluiory tinancial statetnenls. Page 25 Patriarchal Stavropegic Monastery of Saint John the Baptist Detailed Statement of FiDanci41 Activitles for the Year Ended 31 December 2024 (eontinued) Tolal 2024 Total 2023 General adminisiraiiv¢ expenses IProfilllL05S Qrt salc of langiblc tixcd assets 35,677 3i.12i 500 6i6.304 537.0?6 Charilable A¢tiviiics tgial expenditure 806.554 726.543 Adininisiraiion ol'invesimenis 140.712 68.074 140.712 68.Q74 Glliii&qosses on i￿v￿lmeN1 thsséts IGainy1055 on PTograrnme related investments -548.575 This pag¢ does not form part of the statutory financial statemenis. Page 26