THE CLEARY BLACKFRIARS TRUST ACCOUNTS FOR THE YEAR ENDED 31" AUGUST 2023 {R￿lstered Charity Number 297249) THE CLEARY BLACKFRIARS TRUST ANNUAL REPORT AND ACCOUNTS sr FOR THE YEAR ENDED 31 AUGUST 2023 Trustecs. oificers and Adviscr. Charity Trustees Advi￿Cr5 NomiTrAte(I by Thc Kin¥'i SLhoDI, CaTrtcrhury l LO￿.50￿ lEleadmi.stre￿l (Ap￿1￿¢£11 Scptcmbcr 20231 E WorthingLon Ilntcrini Htailrniltre￿I (Appoiiited Scptcnihcr 2022. ro5iwc(l August 20231 T WaTcI r..sq. t) Hannent F. Bankers UK Baiikiii Luniy & Maulhan 57 QUL'CI) %iri'i%l Rain￿8&1¢ KLnl LYI 19F.I Ki￿rit LTI 2F.q Pagc I THE CLEARY BLACKFRIARS TRUST Annual Report of the I'rustees lor the year ended 31, Augu.%t 2023 SORP Reference and Administrative InFormation ThL LIL)ry Blacklriar5 1'ru4t IS a rcgistpreil rharltv Iri'xi%lraliiin nurnlK'r 297?491. Tht TrustC?%, L'XCLUtIVL' oITiLX'fs aiid principal addrcss Structure Goveriiance and Managemenl Organi8alion pul>liL I>LnL.Iit. Thc Ilcadmistrcs Truyt's ini'L'sinicnts for prepiiriiigi thc Tru%l'y aLLouiIIs. %Lhool, CaniLrl)ury MJY ni)TnlnatL' oihcr Inve¥tmL'nt powers ObjL'Lts, Aim5, Ohj¢'ctive% and ALtivitiL'¥ SLhc)lar*hipy and biir8ariL'S Ai ihtir It)I'iiing rjn 17tli NiiviimlJL'r 2022, thl, Tru¥tet$ awardcd (-Iriry Art Scholar.%hipi i)[ L45() to.sEbcn pui?115 lor L'dc'h yiar, Thc'rL' n<) (iominalion For ihc TriL%I¢¢3 Award IL2UOI in thi5 I'inaiicial ycar. ThLrc wcrc 7 Kin¥,5 khovl piipil.%. in rr¢cipl of Cli'ary Ari %E-holar.ship¥ awarclLcI iti ihL. f11ian(.'ial yc'ar 31 Aiigus12022. rcLI-l¥irt E,ducation and the Arts L'nnnected Lharity IrL.41.￿LLrL'É[ Lharitv nuinhL'r 1079421 ni()rL LomTnonli kn()Ivn ThL I'agl. THE CLEARY BLACKFRIARS TRUST Annual Repi)rt ol. the Truslees for the year endcd 31, August 202 3 inancial Review and Kcsults for the Year Sharcd Ivith the CaniL'rhury coinmunlty whLli l)Ot 111 U¥L. by IhL' pupily. Investments Thcsc are goNcrnii hc diliiLWL'd in luLurc yLar¥. Reserves Accounting and RLporting Rejprjnsibilitics 2) ,MAkL' jU(I%L'f(IL'niS Antl Ll8timalL.￿ Ehat arL' fL'dyunahlc anLI i)I'udini', LnntlDUL in hu¥in¢%y. Thc. Trust('.r.-4 arE' r¢xpT>n.%il>lL IDr kcc.pin¥ aicouniin.4 fiLor(Is, which are such diKloM' TrSith rL'a¥()nal)IL 4LLurè(.'y at Jiiy Iimi.. tli( Pagc 3 THE CLEARY BLACKFRIARS TRUST Independent Audilors Report lo the "I'rustees of'l'he Cleary BlaLkfriars .1 rust for the year ended 318t August 2023 Opininn Wc havL audited the financial 5tatcmcrtts of tho Cl¢ary Blackfriars Trust (thc 'ehari¢y I for thc yr.ar cndr.d 31st August 2023 whirh 'Dmprise tTr￿ sldtL'rnI'lIt or rinanLial aLtivitics, Ihe balanc¢ $hcct. thc statcmcnt ofcash flows and notr% In thr finanrial statcincni5. IIILluding sigTiifiLanl accounting policics. Tho finattcial r¢porting framework thaihas bccn applii-d in thc.ir prcpar4tion i8 applicable 13w and Uiiiiod Kiiigdum ALL￿un[lng Siandardg. illeludiThg l inancial Re￿rtIng Startdard IV2 7'h¢ I'inun¢ial RepvriinB 5ittTraard ppJiGable in the UK and Republic oJiFeldrJd (Unitod Klngdom Gcncrally Acccpted Aciounting Practiccl. In i)ur vpinlon, rhc financial Atatometyts.. giwL' a truL and lair vltw Jf thc statL' of thc charity's af[￿rS ag •t 31$t Augu8t 2022 alld of its inLQmQ and 0x￿ndItUre ftsr IhL' yL'aT thLII L'ndL'd,. iaYL'. l?eL'n i>riJpLirly prLparcil in a(i()r(lancL' wilh lJnit¢d Klnxd()m GLnc'Tally ALfL'Ptccl Accounting PraLtiL'o', havc hccii prepar¢il in a(L(IrdAncc with thL' rcquir¢m¢iil% vicI(' HaNL'II Ihc w(Jrk IiaY¥ 5x'rfurTnLYI, WL. hayi.. iivi idLIIILSfii%il any maierial unLL'rtaintlL'5 Tclaiing l() i'vLinix t>r con(liii()n$ ihaL, OihLr informatLOII We havc n(Jth5n& lo rcpoil in thi8 rcgard. Matter8 on which we arc wuired in rcpori hy exception WL hivi. nvihirig to riwri in r¢$pcLt of thc following maiterA ID rc14tion to which thc charitics {Accounts and Rt.pnrtxl RL'&iulatlvn¥ ?.008 rL'quirc us iu rLPI)rt to you if, in our opinion.. Ih¢-. inFDrniatii)n givcn ill thi. linancial ¥talL'mi'nis is inL'QnSISitnt In atty matcrial rc5PCCt with thc Trustecs, report. or uifiLirnt aiCI)UrtliThg itcord5 hayi.. nvt bccn kL'I)t., ur the financial 51atcrnenL% arr. nnl in 4KTCCtncnt with ihe aLLY>UnlittX rcrord¥', ar WL. h4vc not reccivcd all th¥ Information and cxplanations wc requirc for Dur auilit. Pagc 4 THE CLEARY BLACKFRIARS TRUST Independent Auditors Rc.port to the. Tru8tccs nf The Cleary Blackfriars Trust ror the year e.nde.d 31 st August 2023 Re$ponsibilitieq nF-frustCC5 Ah Lxplaliicd morL' Fully in ihc siatcrnrnt of TTUYIL'L'S fL.¥￿n$1￿1liLjLs, thL Tru%tL'L'% arc rL'5punsihli. for ¢hi'. i>rcparatii)n (Jf the dL'iermine is ncLcssary iu cnahlL' thL' p 'paraliiJii of fininciil stiti'mLrtis ihai arL frcc. Iroin Mai<'rial rni.I51ali'tncnt, Wh(.￿'r duc t going conL'LriJ, tlisLI(>sin¥, a$ applii-ahlc., T1)4tt¢￿fy fLlaiL(I to giijli i LDfiLI'fii allil using ihc going I￿nCcrn ha51s of a('('.i)uniing unlcss Audiior'¥ re¥ponxibil>liLs for audit uf ihe finanLial ￿tal¢M￿nI# Wi. Iiavi. hi'en Appointi'(l ax auditcjr undcr scction 144 tsf the Charitics Aci 20114nd roport in accordaTlCC With tht Aetand rOlL￿Val)I Tc&ulalii)nx ma(le or hiving crroct thorcunclcT. higli ILVCI ol. a￿lIran{.1. 1)ul is noi a gu$ranioe Ihai an audit LonduLtcn4hl hL' i'xpc'i'l¢(l io innucncc the ccnn(>rnic ileL1¥iDn￿ of u¥cr¥ taki.'n ()11 the hails ul. IhL'SL' linancial IrrL'xulariiio¥, inLlii¢ling frau(I, ari.. in¥tanLL'* uf n()n uo?npli•iJLY wilh laws and rc.gulatiDni. WL. IIL'%lgn pru¢ts'ilurc$ In linc with our wi. It>CUYL,d on apccific lawx and rL'gulation% whiÉ'h we iDn%i(lerL'II may havi.. a clircli maii'ri41 L.I'fi'vl (>n thL fiTlJtILial making inquiri¢% Trl fru%LIC5 an(1 managcniL'nt as to V4hcre ihry yoniidcrnicl thcre was 5USLI'Vtibilily to friud, Ihclr krtowli'ilxr nf aLtual, suspcctcd and allLgcil Iraud,. Auilit rL'¥pi>nJe Io Ti¥ILS iclcntifiL.d )i'rlornii.d analyliLal pr¢?(riluri'.% Iq idcniify any tsr u￿Lx￿CtcCl rclalion3hip'. a.s%c.45L.d whcthcT jud bia8,' and r.rnrnL% anil 35sumpiion5 madc in dctcrniining thc accounling crytiTnate¥ were indic41jvc of ￿tcntIa1 Pagc 5 THE CLEARY BLACKFRIARS TRUST Independent Auditors Report to the Trustees of The Cleary Blackfriars Trust tor the year ended 31st August 2023 In rCS￿nSt th thc ri.4k of irrcgularilies and tt()11-L()tnpliancc with laiv5 anil rcgulations, we dogi&7llLd pruLL.durL'5 which inLluded, but wcrc not limited ia.. rinancial statemcnt disclo$ure5 to undcrlying supporting dDcumcnlation.' Jnd cnquiring i>f mdnagi'mLnt as to aeiual and potcritial litigaiion and Llaitn5. agrL'L'in Ther¢ ar¢ inhcTcni limitatinns in our au(lit proL¢.diircN ¢lL'5LYII)Ld ilx)VL. Tht n)orL' fL'TnUVL.d that lawl and rcgulations are from financial ¢ransacli(>n.s, t￿. It%% likcly il i¥ thal w(. wuulil hL'ctsmL' awifL uf n(IrJ.L'urn lianLL'. Auililing Yiandards also limit diL' audit proceduri'i rr.guircd t(> iilL'niify non-L T)tnplianLI.' wilh law¥ aTJiI rLgul3tions its I'llquiTy uf thL' Tru5tLL's and DihLr n]anagemL'nt an the in*pertion of Tigu14tory And l.'%al Lxirrc$i>i>nclL'ncc, il, Iny. Mitrrial mi851atcmenis Ihai iriy(' Iluc lo frauil LAn he harili-r t() dLtLCt than thu%c ihal arisc frum L'rrur as they iriay SnvulvL' deliher*tc conccalniet)t or cr>llu$lixJ. A further description of tsur rc3￿￿5]hI1iliL'% is aviilal?IL' thi. r'inan('.ial RL'porting LounL'iI'y wL,htite ai.. hiti)5..11 www.frc.org,uk/auilitDrNT('.Ip(>nJihiliticy. 'I'hix il¢xripii()ii foTm¥ ￿r( of()ur auiliiur's ropori. U#t' i>four report Thi5 rcporl 1.4 madc w>lr.ly io th¢ ¢harily'5 TruitCL'.4, a% a hody. iii JL('.i)filancL wiih Pdrt 4 ul. thL' Lharitii'i IAL'Louiir% artil Rcp¢?rLy) Regulali()nJ ?008. Our audit wurk ha5 ￿.L'r1 undlrrakcii ¥i) Ihai WL. Tnighi ilati. lu thc chariiy'i tru%iL'I'5 Ih()¥i' maiieN wc. ari. or agNumL' rL'spofiyil)iliiy 10 aiiy(Jn¢' uihLI' than Ihc charily aTid ih('. Lharlty'l truJl('.e.x as B bodyi lor •u(lit w¢)Yk. for dill ri'pi)ri, Alllotls LLP 2211212023 Chartor•d Accountsnt Slatulory Audltor Frlary Court 13-21 Hlgh Street Guildford GU13DL Alllolls LLP is eligible for appointment as audllor of the charity by virtue of Ils ellglbility for 8ppolnlmenl as audltor of 8 company under seclion 1212 01 the Companies Act 2006. Page 6 THE CLEARY BLACKFRIARS TRUST STATEMENT OF FINANCIAL AcfIvITIES For the year ended 31" AUGUST 2023 Unrcsiricted funds N(ptes 2023 21)22 INCOME FROM Investme.n vtstmtThi Iniome 19,53S Other 18,niJ 17,56 18.034 30,XS5 EXPI.'NI)IIIJRE nN Lharitable Acilvltlta I IluL•Llon anil Art¥ 10.716 'rotsl Expcndiiure 10.726 1,423 NET INCOMI.. HI:'I.'ORE INVESTML.N'I' GAINS I (LOSS) 26,842 42,?78 IrJvc*Lmcn(8ain / Il(￿*> RevaluatLtin ul-fangiblc Abocti 14,2%) NI.:'I' MUVEMEN-r IN I.'UND5 27,546 FuDd balAnL￿￿ ai lrt SL'pii'rnliL'r ?.022 769,626 758,45 3 I.'UND BALANCES A'f 31st AuguJt 2023 io 797,172 769.6?6 PagL THE CLEARY BLACKFRIARS TRUST BALANCE SHEEf AS AT 31" AUGUST 2023 NotÉs 2023 2022 FIXED ASSE]S Tan&bie a￿et% b)veJtment> 25OWIM) J IS,267 565267 245,(KlO 319,562 564,562 CURRENT ASSEIS l)ehtu 24lth69 241*69 214,614 214,614 CREDITORS: due wlthln one year 9.764 19.5501 NET CURRENT ASSETS 211.9U5 2US.064 TOTALNEfASSbl% 71n,i72 769,626 UNRESTRicfED TrUNDS io 7YI,172 769,626 AppTovcd by th¢, Trui¢i'c¥ Dr thL' CIL'ary BlaLklriar$ Truit on thc nd 1SgnL.d vn thelr ljchaifby.. AliaiaiT Gould E Chairman Dfthc Tnjstc Pagc 8 THE CLEARY BLACKFRIARS TRUST Note5 to the accounts ror thc year endcd 31" August 2023 l) Statement oCAccounting Policic8 a) Basis ofaLL'OUllting ThL' CIL'ary BlaLkfriarK Tr￿si 1% conslllUILd unilcr a TTu%I I)i'L.d ilatcil ??nd Juni. 1987 and iy regiitcrcd unclc'r charity numhcr 297249. Thc aCLUUnty havL hLI'n pfi'iiari'd iii ai'(.'r>rildDcc with ih¢- "AiLounliiig aiicl Rcporting hy Ch4rities.. Statcmcnl (Jr RI'LUJTiimcTidcd Pr4(.'IjLL' *ppliiahl(' l(J i..hdriliL'S PTL'paring ihcir aLrounl¥ in aLittfi1311CC Wlth thc F'inanrial R¢piirung Stsndard applicahlL' in ihÉ. UK an(1 ￿lP￿1)lli (Jf IrL'laiid Il'.11$ 1021" (as atnrn¢l('.(I Ir>r ai'eoun¢ing ptrriod5 comtnr.ncing frum I january 20191. MIL charity 1$ 3 1)ulilic. ilcnLfil l..nlily dy clcfinL'II l)y I'.KSl 02. Thcy arr Ilrawn up ()n ¢h¢ histijrical I'.(>5t accounting basis CXCCPI that which 18 th¢ functional CUTfcDLy ofthL' ChArily. Miin<'iary arnounls jii thei¢ financial %laicrncnlJ arc mundr.ll 10 ihc ttcarosi £. b) F.xpenditure c) TaDgiblL fixeil a%yL4I its Tlii. Kin¥,. in ?0?6, d) Invi'#tment• ancl inveximeni InLiime e) Gran18 anil awardy UIIiTnale parL'nt (.'harily Kinx's SLho¢)I, Cantirk¥ury. Wiihin thc con501idalc(l a¢¢i)unts prLparc(I hy ihL' pafL'nt Lliariiy. IhL uiifi-%ifiLtL(I lund% i)IihL' Llcary Illa¢kfriar¥ I'ruit arc.shown g) Going LoncL'rn At the tim¢ ofapprusiiig thc account%, IhL Tru4lLL'S hthil J rLdsonal)li' L'XPL'I'lallvn thal thL, Tru%i has a(IL'ciuatc rcwJurL('¥ li) loiitillUI- In 0￿r￿tiOnal L'X15tcncc For thE fvr¢'&iLahlL fuiurL.. Thu¥ i￿. Tru5tL'L'S LoiillnuL ti) adi)i)t ihL going LUIILYrn hayi.¥ thr aiK(?uniittg in pteplring the iLrounts. h) inancial Instrument8 Thc TN$t orjly holds basic financial in5trurRcnts as di,finocl in FKS102. Thc fiiianLial ats51.ts and li3hiliLiL'S ul iliL' Tru51 Bnil thc-ir mcwurcm¢nt basis arL' AS lollows.. Amourtt$ duo from the Trust'5 Tru5tcc arc Ilrht lrt$trtsmLrtls tneasurn.d al amurli5ccI co%l ¢ILiailLiI in ii()tc 6. Trade crc(litvY¥. a¢truJls and othcr crcditnr5 arc. ftnancial lrt¥trumLpnis and are mL'a¥urcd al amurtls¢¢1 LDSI a5 (Ictailtd in notc 7. Pago 9 THE CLEARY BLACKFRIARS TRUST Notes to the accounls for thc year ended 31" August 2023 2) Investment inL￿rne 2023 2022 Inte￿L Dn Lath detx>sits hol(1 hy The Kiryg5 kh(x)I ()n li.%ied inve51men15 10,903 S￿12 19,515 10.666 J) Expenditure 2023 ?0?? 'rruit A¢tiwily L.x￿ndIturL• includeg: CIL'ary Art k.hric Losi 97,919 97,919 All invvsimenis are in Sarisin Alpha cir. rL>r r..nLlul, Lante.rbury Pr¢i)Jynivnl8 and ALLfuL'(l inLvriit 23D,722 111.947 241h69 212,443 7) Cre(lit()rs 21123 ?022 'I'rAv*l in(1 l.r.avcTh' Awaryly 8,692 1.072 9,764 ,55U Audit 8) FinanLial L￿Mmitm￿ntS 'I'hcrc wcrc nthcT finan￿￿1 ix)mmitmcnts as at 31, Au￿st 2023 12022.. nil). 91 Stall. number5 and LO¥t The avcrigc numhcT of ￿T50￿5 cmploycd hy th¢ Trust during tho ycar wa5 iiil12022.. nil). Thc wagc. LOSI lor ihL'-l-rus1 wai 2Jil PagL THE CLEARY BLACKFRIARS TRUST Note5 to thc accounts for th¢ ycar ended 31° August 2023 10) Unrestricted bund8 Ilalan¢e lot Septcmber 2022 Balance Revaluation Expendiwre gainslllosB) Jlst Aug￿1 2U23 Income Conernl Fund 769.626 37,568 110,7?61 704 797,172 769h26 lQ.726 71M 797,172 11) Unre¥tricted Fund8 Prior Year l¥alanLL' BalanLL' Il¥t August 2D22 1st Sep￿￿mber 2021 Revalualitsn EX￿ndIture BHinJ/(10s11 General Fund 758,455 30,855 11.421 769,626 758,453 7691Tr26 12) Related Partie8 Thi. C.'IL'ary BldL.klriarJ Truql Lhariiy ind Thi, King'y School, Canl¢thury arc rel•tcd partics dii¢l0scd on pagc 2 ofthi Truytc Rcpi)rl. ThL'fL' IfL' na D￿-r rrlatcd Payly Iran53clloru. Pagc 12 ## Cleary Accounts Final Audit Report 2023-12-22 Created: 2023-12-22 By: Alliotts Guildford Support (Guildfordsupport@alliotts.com) Status: Signed Transaction ID: CBJCHBCAABAAreEJfDvRA9BBSOx1NkbHZGe-aeX_yrX5 ## "Cleary Accounts" History Document created by Alliotts Guildford Support (Guildfordsupport@alliotts.com) 2023-12-22 - 10:36:17 GMT- IP address: 88.98.47.65 Document emailed to Stephen Meredith (stephen.meredith@alliotts.com) for signature 2023-12-22 - 10:37:34 GMT Email viewed by Stephen Meredith (stephen.meredith@alliotts.com) 2023-12-22 - 19:29:05 GMT- IP address: 148.252.133.47 ## Document e-signed by Stephen Meredith (stephen.meredith@alliotts.com) Signature Date: 2023-12-22 - 19:30:27 GMT - Time Source: server- IP address: 148.252.133.47 ## Agreement completed. 2023-12-22 - 19:30:27 GMT