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2021-06-30-accounts

Charity Registration No. 294625

Company Registration No, 02010021 (England and Wales)

INSTITUTE OF ST ANSELM

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

INSTITUTE OF ST ANSELM

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Reverend L Kofler
Miss T Slinn
Reverend A Chantry
Mr P Goodlace
Reverend P Mooney (Appointed 20 October 2021)
Reverend K J Alban (Deceased 5 May 2021)
Charity number 294625
Company number 02010021
Registered office 12 Madeira Road
Cliftonville
Kent
CT9 2QQ
Administration team L Wells - Finance clerk
C McGuire - Registrar
Independent examiner M Wilkes FCA
Azets Audit Services
Delandale House
37 Old Dover Road
Canterbury
Kent
CT1 3JF
Bankers HSBC Bank plc
9 Rose Lane
Canterbury
Kent
CT1 2JP
Solicitors Stone King
13 Queen Square
Bath
BA1 2HJ

INSTITUTE OF ST ANSELM

CONTENTS

Page
Trustees' report 1 - 6
Independent Examiners Report 7
Statement of financial activities 8
Balance sheet 9
Statement of Cash Flows 10
Notes to the financial statements 11 - 18

INSTITUTE OF ST ANSELM

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2021

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006 ('the 2006 Act'), present their annual report together with the financial statements of the charity for the year 1 July 2020 to 30 June 2021. The trustees confirm that the Annual Report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015).

Fr. Kevin Alban O.Carm joined the trustees on the 6th July 2017. He was still a Trustee when he sadly died after a short illness on the 4th May 2021. The trustees remember him as someone deeply committed to the formation of the Church’s ministers, leaders and teachers.

His cheerful disposition, extensive experience, keen intellect and depth of wisdom contributed greatly to the ongoing development of the Institute. He was a key figure in organising the smooth transfer of the Institute from UK to Rome. He was greatly appreciated and is sorely missed.

OBJECTIVES AND ACTIVITIES

The chief objectives of the charity are the advancement of religion and education throughout the world and, in particular but without prejudice to the foregoing the analysis of the process of human growth and the training of individuals (and especially leaders) to foster psychological, physical and spiritual growth.

Whatever we do, we want it to be in line with the principle objective of the company: “The advancement of religion and education throughout the world and in particular but without prejudice to the foregoing the analysis of the process of human growth and the training of individuals (and especially leaders) to foster psychological, physical and spiritual growth.”

The Institute’s Mission is driven by the conviction that the formation of bishops, superiors, priests, religious and pastoral workers needs to be more process-oriented if the church of the future is to become a healing Church. Generally speaking, one can say that candidates learn to grow in love for themselves, others, the environment and God through learning to relate constructively to all four.

The Institutes basic premise is that Christianity will become relevant to the needs of our time when the emphasis changes from its traditional teaching function to the healing ministry as seen in Jesus’ ministry. Healing played a fundamental role. The courses run by the Institute encourage and facilitate a process of inner growth and change in the participants. This moment of metanoia or spiritual conversion enables them to outgrow their fears and trust themselves in the “unfolding process of life and meaning”.

The main objectives for the year are advertising, assessing and the smooth running of all courses.

The strategies for achieving the objectives are:

Leadership Training – to help them to understand themselves in a leadership role.

Multi cultural – Community Living;

Encouragement of people from countries worldwide to attend courses; Support of those, especially in need of psychological and spiritual enhancement.

There are many significant activities that contribute to the achievement of the stated objectives. The Institute offers a variety of courses to meet the particular needs of participants.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The Institute was established in 1984. Approximately 3,400 students have received a Diploma in Human Development after completing their nine-month experiential programme.

Page 1

INSTITUTE OF ST ANSELM

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2021

OBJECTIVES AND ACTIVITIES (Continued)

During the 2020/21 year we had the following participants on the various programmes as follows:

1SARDip - 1 year Diploma - Sep 2020 to May 2021 - 7 participants.

2SARDip - 1 year Diploma - Jan to May 2020 & Sep to Dec 2020 - 5 participants. 2SARDip - 1 year Diploma - Jan to May 2021 & Sep to Dec 2021 - 5 participants. 4SARCert - Sep 2020 to Dec 2020 - 12 week certificate programme - 4 participants. 4SARCert - Jan 2021 to Mar 2021 - 12 week certificate programme - 0 participants. 3SARCert - Jan 2021 to May 2021 - 18 week certificate programme - 5 participants. 5SARCert - Sep 2020 to Nov 2020 - 7 week certificate programme - 0 participants. 5SARCert - Jan 2021 to Feb 2021 - 7 week certificate programme - 4 participants.

To date, the Institute has assisted over five thousand participants in different courses; these in turn have helped countless others throughout the world, which is a vast achievement for the Institute. Each year we know that the participants will take with them what they have learned and go on to teach others back in their own countries.

We hope that in this way our teaching will be passed on for many years to come.

To see the students when they first arrive and then when they leave, and to see how much they have grown in maturity and integration as well rounded and balanced and gained from the courses is extremely beneficial and highly gratifying for staff and participants.

All of the properties except for one are now rented out and one property is kept as our UK Headquarters.

We held a 2 week training course for ‘team members’ in May and there will be another in September also for two weeks, for our 2nd and 3rd year students to prepare them for the intake in September & January.

During the year the Institute offered bursaries to three second years and two third year team members which would be worth approximately £16,600 (€19,380) each and approximately £5,150 (€6,000) of this goes to Il Carmelo.

Fr Len and Thalia were unable to give a Workshop in Slovenia this year due to the Coronavirus.

Several staff members offer Spiritual Direction and Counselling for no fee to the members of the public.

ACHIEVEMENTS AND PERFORMANCE

a. Review of activities

Diploma and Certificate Programmes commenced September 2020 in Rome

We began the courses with 17 participants for the September 2020 intake 6 of these were completing the course they began at the beginning of January 2020. In January 2021 we had 17 participants join us 7 of these were completing the Diploma programme they started in September 2020.

The Covid-19 pandemic hit Italy very hard, we were fortunate to be able to continue the Programmes and finish two weeks earlier on the 8th May as our usual Easter break could not be taken. We followed the strict regime on social distancing, the lockdown rules and the limited outings for essentials only and were unfortunate that Staff and Team and some Participants did get the infection. After two weeks of isolation in their rooms all but 2 were given the all clear once again. It was during this time that we introduced the zoom from the guest lecturers to the Participants who were isolating in their rooms. We will continue to follow all the guidelines to prevent any more Covid-19 infections in the future. We locked down the week of the 9th March which was earlier than the Italian Government advised. We had several meetings during this time also.

Seven-Week Programme

As we are not offering a summer course in Rome due to high temperatures, we offered the seven-week course at our intakes for both September 2020 and January 2021. This is an intensive course for those who are very limited for time.

Page 2

INSTITUTE OF ST ANSELM

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2021

2nd and 3rd Year students

They had a two-week training course in May and another 2 weeks training will take place in September 2021.

Management Team

Fr. Len Kofler, Founder and Director, Thalia Slinn and Claire McGuire shared the daily planning and running of the Institute. Sr. Therese Garman is our consultant and guide for requirements for NCFE and ASIC; in addition she has the role of internal assessor. The visa process in Rome is challenging but they get their visas.

Academic staff

Fr. Len Kofler, Thalia Slinn, Fr Wijnand Huijs . In addition to these we have Fr Peter Verity, Fr John Breen, Sr Lettedinghil, Fr Giuseppe Crea here in Rome who come on a regular basis. We also have Fr John McCluskey, Fr Jim McManus, Fr Denis McBride, Fr Denis Tindall coming from England or via zoom and are continuing to build up a team of guest lecturers from Rome.

Inspection of courses

Our NCFE Inspection took place on Tuesday 22nd October 2020 remotely and we received another excellent report.

Our ASIC reaccreditation visit took place on the 18th -19th February 2020 with another glowing report received.

b. Investment policy and performance

Under the Memorandum and Articles of Association the charity has the power to invest the monies of the Trust not immediately required for its purposes in or upon such investments, securities or property as the Trustees (meaning in the memorandum the persons holding such office as constitute under the Trust’s Articles of Association) shall think fit.

The Institute has adopted a strategy in its investment policy for capital appreciation. The investment portfolio performed in line with market expectations.

FINANCIAL REVIEW

Income for the year was £365,977 (2020: £533,035) and expenditure amounted to £316,291 (2020: £436,020). The resulting surplus, before valuation adjustments of fixed asset investments and investment property's was £49,686 against a 2020 surplus of £97,015.

The charity's balance sheet shows a positive position of £2,683,959 (2020: £2,599,586). Net current assets have increased from £424,609 to £470,222 and the charity is on its way to holding the required level of reserves it requires (see Reserves policy below).

The cash balance has increased from £469,017 to £634,774 with £111,385 (2020: £30,667) increased from charitable activities and £54,372 (2020: £61,435) increase from investments held by the charity to generate income.

a. Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

The trustees do not consider that the Covid-19 pandemic will have a significant impact on the going concern of the charity, details of which are set out in future developments below.

As mentioned in Future Developments below, the participant numbers are up on the previous year, the charity is still running courses during the Covid-19 pandemic. Our income has increased.

Page 3

INSTITUTE OF ST ANSELM

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2021

b. Reserves policy

The Trustees have considered future income streams, budgeted expenditure and cyclical maintenance programmes for the charity's various properties and have assesed the need for a reserves policy of £100k (2020 - £500k).

At 30 June the charity had unrestricted (undesignated) reserves of £88k (2020 - £403k) against a required target of £100k (2020 - £500k).

At 30 June the charity had designated reserves of £2,596k (2020: £2,197k) which comprised the Designated Building fund of £303k (2020: £306k), the designated Investment fund of £1,904k (2020: £1,869), the designated fund for the purchase of property in Rome of £350k (2020 : £nil) and the repairs to building in Rome fund of £32k (2020 : £22k).

c. Principal Funding

Aside from the income generated from the Charity’s investment properties, the principal funding source comes from fees received for courses provided by the Charity during the year and a percentage of the fee income will go to Il Carmelo for the use of the rooms and building.

d. Future developments

We are a Legal Entity in Rome and we are now aiming to become a Legal Institute with Canonical Rights under the Vatican State as we need both of these for visas.

Despite the Covid-19 outbreak we have 21 first year Participants attending the September 2021 Programmes which is a significant increase from 16 participants in September 2020 the charity is still providing courses. We also have 3 second year Participants, along with 2 third year Participants. Some participants that have been unable to participate in these courses due to the Covid-19 pandemic will be able to defer until, either January or September 2022 if possible.

There are still some Visa Offices that have not yet re-opened in some Countries, which is also causing some problems but we hope this will ease with time. The new regulations for all entering Italy from different countries are also tightening up, this is good for the Institute, as they all need to have had their vaccines before they travel.

We have 42 rooms at the Institute for first year participants which we hope to fill before long. If our numbers increase, we have been offered further rooms in the campus. We are looking to make further contacts in Rome and find additional suitable guest lecturers from Rome so we are not dependent on the UK. We also hope to offer a conference to Major religious superiors for a day, to become better known. We still carry on doing some consultation, counselling and spiritual direction in Cliftonville.

In England we hope to arrange a course or two at Aylesford Priory near Maidstone during the summer.

The New Academic Year September 2021/22

We continue to advertise and are hopeful that being in Rome will make advertising much easier over the coming years. In April we sent out letters to Superior Generals that are here in Rome, as it would be more convenient for them to send people if they were already in their Generalates and it reduced the need for getting visas for some.

The Properties, Houses 63, 65, 67 Norfolk Road and Flats 1 & 2 at 61 Norfolk Road, 38 Madeira Road and also offices at Cumberland Lodge continue to be let out for which we receive rental income and they are managed by a local firm.

Page 4

INSTITUTE OF ST ANSELM

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

a. Constitution

The company is a charitable company limited by guarantee and was set up by a Memorandum of Association on 14 April 1986.

The company is constituted under a Memorandum of Association dated 14 April 1986 and is a registered charity number 294625.

b. Method of appointment or election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.

c. Policies adopted for the induction and training of Trustees

When a new Trustee joins the Institute they are first introduced to the existing Trustees and staff members. The trustees are informed of what is expected of them and made aware of their legal obligations. To assist them they are issued with a copy of the latest edition of “The Essential Trustee: What you need to know” to give them a guide of what is expected. A copy of “The Essential Trustee” is also given to existing trustees as and when a new edition is updated.

Updated literature about Charities and Charity Law is distributed to the Trustees as and when received.

d. Organisational structure and decision making

The management of the company is the responsibility of the Trustees who are co-opted under the terms of the memorandum and articles of association.

None of the Trustees have any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The charity is UK based and runs courses in both the UK and Italy. It's headquarters are in Cliftonville, near Margate, Kent

The Institute's management structure has three tiers of Executive, Staff and Team. An advisory board meets twice each year offering guidance and direction to the trustees.

e. Related party relationships

The charity has related party relationships with the following two charities:

‘World Movement for Reconciliation’ was founded by the Institute as it is central theme of what we do and this was a simple way of expanding it to many others. Most of our participants choose to become members.

Choreo' is an Accreditation Board for Therapist an, Counsellors, Growth Facilitators. It was started for participants of the Institute so when leaving the Institute after 3 years they have an extra recognition for their work.

f. Risk management

The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. These have been updated in response to the Covid-19 pandemic.

We are a Legal Entity in Rome and we are now aiming to become a Legal Institute with Canonical Rights under the Vatican State as we need both of these for visas. This will reduce any risk regarding visas.

We have a risk assessment which has been completed for 12 Madeira Road which is now our registered office in the UK. We also have 3 contracts of employment. We remain under the auspices of Peninsula to ensure we maintain the up-todate standards required.

Page 5

INSTITUTE OF ST ANSELM

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2021

Trustees' responsibilities statement

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are 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.

This report was approved by the Trustees, on 17 November 2021 and signed on their behalf by:

Reverend A Chantry Trustee

Page 6

INSTITUTE OF ST ANSELM

INDEPENDENT EXAMINER'S REPORT

FOR THE YEAR ENDED 30 JUNE 2021

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF INSTITUTE OF ST ANSELM (the "company")

I report on the accounts for the year ended 30 June 2021.

Responsibilities and basis of report

As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

M A Wilkes (FCA) Azets Audit Services

Delandale House, 37 Old Dover Road, Canterbury, Kent, CT1 3JF

Date: 7 December 2021

Page 7.

INSTITUTE OF ST ANSELM

STATEMENT OF FINANCIAL ACTIVIES

INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2021

Notes
Income from:
Charitable activities
2
Investments
3
Other income
Total income
Expenditure on:
Raising funds
4
Charitable activities
5
Total resources expended
Net income
Net gains/(losses) on investments
9
Net movement in funds
Fund balances
at 1 July 2020
At 30 June 2021		 Unrestricted
fund
2021
£
265,910
99,979
88
365,977
38,477
277,814
316,291
49,686
34,687
84,373
2,599,586
2,683,959		 Total
2020
£
435,053
97,575
407
533,035
36,140
399,880
436,020
97,015
(3,840)
93,175
2,506,411
2,599,586

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

All income and expenditure in 2020 related to unrestricted funds.

Page 8

INSTITUTE OF ST ANSELM

BALANCE SHEET

AS AT 30 JUNE 2021

Company Registration No. 02010021

Notes
Fixed assets
Tangible assets
10
Investment properties
11
Investments
12
Current assets
Debtors - Other debtors
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
Total assets less current liabilities
Funds
Designated funds
16
Unrestricted funds		 2021
£
8,219
634,774
642,993
(172,771)		 2021
£
310,165
1,650,000
253,572
2,213,737
470,222
2,683,959
2,596,057
87,902
2,683,959		 2020
£
20,348
469,017
489,365
(64,756)		 2020
£
306,092
1,650,000
218,885
2,174,977
424,609
2,599,586
2,196,657
402,929
2,599,586

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2021.

The Trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 17 November 2021.

Reverend A Chantry

Trustee

Page 9

INSTITUTE OF ST ANSELM

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 JUNE 2021

Company Registration No. 02010021

Cash flows from operating activities
Net income / (expenditure for the year)
Adjustment for:
Depreciation
Gains / (losses) on investments
Interest received / rents from investments
Cost of investing activities
Increase in debtors
Increase in creditors
Net cash used in operating activities
Investing activies
Interest received / rents from investments
Gains / (losses) on investments
Purchase of tangible fixed assets
Net cash from investing activities
Net increase / (decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2021
£
84,373
3,057
(34,687)
(99,979)
38,477
12,129
108,015
99,979
(38,477)
(7,130)		 2021
£
111,385
54,372
165,757
469,017
634,774		 2020
£
93,175
3,494
3,840
(97,575)
36,140
45,367
(53,774)
97,575
(36,140)
-		 2020
£
30,667
61,435
92,102
376,915
469,017

Page 10

INSTITUTE OF ST ANSELM

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

1. Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the forseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

The Trustees do not consider the impact of Covid-19 will affect the charity's ability to continue as a going concern.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit 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. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Page 11

INSTITUTE OF ST ANSELM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

1. Accounting policies (continued)

1.5 Expenditure

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

1.6 Tangible fixed assets

Assets costing £1,000 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any impairment.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold Buildings - 2.5% straight line

Fixtures and Fittings - 5% to 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.9 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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INSTITUTE OF ST ANSELM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

1. Accounting policies (continued)

1.11 Financial instruments (continued(

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Useful economic lives of tangible assets

The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates based on economic utilisation and the physical condition of the assets.

Investment Properties

Investment Properties are measured at fair value at the Balance Sheet date. The fair values are assessed annually by the trustees.

Page 13

INSTITUTE OF ST ANSELM

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

2.
Charitable activities
Diploma / Sabbatical
EQ Therapy
3.
Investments
Rental income
Interest receivable
4.
Costs of generating voluntary income
Investment property management fees
Investment property repairs
Rates
Light and heat
5.
Expenditure on charitable activities
Direct costs
Depreciation
Guest and team lectures
Library and visual aids
Building repairs
Insurance, cleaning and other household expenses
Charitable donations
Foreign currency exchange
Contribution towards running costs in Rome
Contribution towards building costs in Rome
Training and redundancy costs
Running costs incurred in Rome
Share of support costs (see note 6)
Governance costs - Independent Examination Fee		 2021
£
265,910
-
265,910
2021
£
99,894
85
99,979
2021
£
14,328
14,435
2,575
7,139
38,477
2021
£
690
8,930
4,762
1,214
9,925
-
14,947
140,831
-
-
13,692
194,991
75,629
7,194
277,814		 2020
£
433,517
1,536
435,053
2020
£
97,507
68
97,575
2020
£
17,840
11,437
2,361
4,502
36,140
2020
£
811
11,530
1,586
4,031
10,481
2,136
(2,522)
233,313
12,961
90
33,874
308,291
84,515
7,074
399,880

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INSTITUTE OF ST ANSELM

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

6.
Support costs
Staff costs
Depreciation
Rates
Light and heat
Other expenditure
Travel and subsistence
Telephone, printing and stationery
Equipment maintenance and repairs
Legal and professional fees		 2021
£
36,925
2,367
2,675
1,704
1,934
10,109
3,117
8,140
8,658
75,629		 2020
£
38,852
2,683
2,605
2,180
3,871
10,340
2,853
9,477
11,654
84,515

7. Trustees

During the year the charity re-imbursed £2,248 to 1 Trustee (2020: None) for epenses paid on the charity's behalf in respect of travel and running costs incurred in Rome.

8. Employees

Number of employees

The average monthly number of employees during the year was:
Support staff
Employment costs
Wages and salaries
Other pension costs		 2021
no.
3
2021
£
36,249
676
36,925		 2020
no.
3
2020
£
38,281
571
38,852

No employee received remuneration amounting to more than £60,000 in either year.

The Key Management Personnel of the charity are considered to be the Trustees who receive no remuneration.

9.

Net gains/(losses) on investments
Revaluation of investments		 2021
£
34,687
34,687		 2020
£
(3,840)
(3,840)

Page 15

INSTITUTE OF ST ANSELM

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

10.
Tangible fixed assets
Cost
At 1 July 2020
Additions
At 30 June 2021
Depreciation and impairment
At 1 July 2020
Depreciation charged in the year
At 30 June 2021
Carrying amount
At 30 June 2021
At 30 June 2020		 Freehold
buildings
£
353,468
-
353,468
64,335
601
64,936
288,532
289,133		 Fixtures
and
fittings
£
26,649
7,130
33,779
9,690
2,456
12,146
21,633
16,959		 Total
£
380,117
7,130
387,247
74,025
3,057
77,082
310,165
306,092

The carrying value of land included in land and buildings was £70,694 (2020: £70,694).

11.
Investment properties
Fair value
At 1 July 2020
Surplus / (deficit) on revaluation
At 30 June 2021		 2021
£
1,650,000
-
1,650,000

The 2021 valuations were made by the trustees, on an open market value for existing use basis.

The historic cost of the Investment Properties at 30 June 2021 was £1,431,235 (2020: £1,431,235).

Page 16

INSTITUTE OF ST ANSELM

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

12. Fixed asset investments

Market value
At 1 July 2020
Revaluations
At 30 June 2021
Investments at market value comprise:
United Kingdom
Asset distribution
Unit Trusts
Material investments
Global Equity Class Unit Trust
Balance Mgd Class Unit Trust
Managed Growth Class Unit Trust
Historical cost
Listed securities
13.
Creditors: amounts falling due within one year
Trade creditors
Other taxes and social security costs
Deferred income
Other creditors
Accruals		 2021
£
253,572
253,572
16,511
13,246
12,678
42,435
191,749
2021
£
2,156
-
160,186
3,235
7,194
172,771		 Listed
securities
£
218,885
34,687
253,572
2020
£
218,885
218,885
13,449
11,484
10,789
35,722
191,749
2020
£
1,437
354
53,758
4,207
5,000
64,756

14. Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £710 (2020: £571).

Page 17

INSTITUTE OF ST ANSELM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

15. Related party transactions

‘World Movement for Reconciliation’ was founded by the Institute as it is central theme of what we do and this was a simple way of expanding it to many others. Most of our participants choose to become members.

Choreo' is an Accreditation Board for Therapist an, Counsellors, Growth Facilitators. It was started for participants of the Institute so when leaving the Institute after 3 years they have an extra recognition for their work.

The charity made expenses on behalf of the following related parties that will be repaid in full:

Choreo - Balance due to the charity in respect of payments made on its behalf - £1,875 (2020: £1,412). Tribos World Movement for Reconciliation - Balance due to the charity in respect of payments made on its behalf - £1,720 (2020: £1,481).

16.
Designated funds
CURRENT YEAR
Building Fund
Investment Fund
New Building Fund - Rome
Building Fund - Rome
PRIOR YEAR
Building Fund
Investment Fund
Building Fund - Rome		 Balance at
01 Jul 20
£
306,092
1,868,885
-
21,680
2,196,657
Balance at
01 Jul 19
£
309,586
1,872,725
-
2,182,311		 New
designations
£
7,130
-
350,000
10,640
367,770
New
designations
£
-
-
34,641
34,641		 Designations
released
£
(3,057)
34,687
-
-
31,630
Designations
released
£
(3,494)
(3,840)
(12,961)
(20,295)		 Balance at
30 Jun 21
£
310,165
1,903,572
350,000
32,320
2,596,057
Balance at
30 Jun 20
£
306,092
1,868,885
21,680
2,196,657

Building Fund

This fund represents land and buildings and related fixtures and fittings which are used for charitable use.

Investment Fund

This fund represents tangible fixed assets in the form of investment properties and an investment portfolio which are used by the charity for both the purposes of income generation and capital appreciation and thus do not form part of the charity's free reserves.

New Building Fund - Rome

This fund represents amounts held towards the potential acquisition of property in Rome to run courses in the future.

Building Fund - Rome

This fund represents 5% of fees that is held towards the contribution of building work in Rome and is agreed with Il Carmelo in advance of spending.

Page 18