2022-05-31-accounts

Contents			Page
Trustees and advisors
Trustees' Report
Independent Examiner's		Report to the Trustees
Statement of Financial		Activities
Balance Sheet			10
Notes and Accounting	Policies

		Notes	Restricted	Funds	Total	Restricted	Funds	Total
			Fund	General	2022	Fund	General	2021
Income from:
Donations and legacies				101,693	101,693		143,237	143,237
Charitable activities				8,715	8,715		17,375	17,375
Investments		3	16,165	10,764	26,929	17,113	8,484	25,597
Other				595	595		583	583
Total income			16,165	121,767	137,932	17,113	169,679	186,792
Expenditure on:
Raising funds
Investment managers		fees	6,589	10,596	17,185	5,717	9,704	15,421
Charitable activities		5	179,129	186,603	365,732	141,017	190,393	331,410
Total expenditure			185,718	197,199	382,917	146,734	200,097	346,831
Net gains/(losses)	on
investments			24,357	18,035	42,392	150,859	159,875	310,734
Transfers between	funds
Net (expenditure)/	income
and net movement	in	funds	(145,196)	(57,397)	(202,593)	21,238	129,457	150,695
Reconciliation offunds:
Total funds brought	forward		873,467	773,364	1,646,831	852,229	643,907	1,496,136
Total funds carried forward			728,271	715,967	1,444,238	873,467	773,364	1,646,831

					2022	2021
				Notes	F	E
Fixed assets
Tangible fixed assets					725	1,452
Investments					1,850,648	1,867,757
					1,851,373	1,869,209
Current assets
Debtors					10,200	20,316
Cash at bank and	in hand				172,680	237,066
					182,880	257,382
Creditors - Amounts		falling due
within one year
Other creditors				10	51,749	91,022
Amount due to subsidiary			company	10	2,000	2,000
					53,749	93,022
Net current assetsl(liabilities)					129,131	164,360
Total assets less	current		liabilties		1,980,504	2,033,569
Creditors - Amounts		falling due
after more than	one year
Other creditors				10	33333
Provisions for liabilities				16	502,933	386,738
Total net assets					1,444,238	1,646,831
Funds
Unrestricted funds					715,967	773,364
Restricted fund					728,271	873,467
				12	1,444,238	1,646,831

	During the year the charity also paid	for Trustees Indemnity insur	ance.
3	Investment Income		2022	2021
	UK investments listed on recognised	stock exchange	26,929	25,597

The aggregate ofthe assets, liabilities and f	unds of EBCTrading Limited was:
	2022	2021
Assets	2,000	2,000
Liabilities
Funds	2,000	2,000

Ye	ar Ended	31 May 2	02	2
5	Charitable	Activities			Activities
				Undertaken		Support	Total	Total
					Directly	Costs	2022	2021
	Promotion	of cooperation		and
	exchange	of ideas			21,778	619	22,397	31,439
	Support of	visitations	by the
	Abbot President				25,727	731	26,458	44,450
	Education	and training	of members
	ofthe congregation				114,136	3,242	117,378	42,593
	Contribution	to care costs offormer
	Fort Augustus monks
	Abbot President and Secretariat expenses				8,455	240	8,695	16,077
	Expenses	ofofficials			1,610	46	1,656	359
	Legal and	professional	fees			189,148	189,148	196,492
					171,706	194,026	365,732	331,410

Support co	sts (including	gover	nance costs)	comprise:
					2022	2021
Legal and professional		costs			189,148	196,492
Independent	examiners	fees	- independent	examination	1,000	1,000
			- other		5,840	6,200
Procurator	in curia				1,044	3,211
Exchange (gains)/losses					(7,456)	26,247
Praesidium					4,450	19,942
Rescripts						469
Consultancy	fees					7,929
					194,026	261,490

Fixed Assets - Tangible
	Office
	Equipment	Total
Cost
At 1 June 2021	19,274	19,274
Addition
At 31 May 2022	19,274	19,274
Depreciation
At 1 June 2021	17,822	17,822
Charge for year	727	727
At 31 May 2022	18,549	18,549
Net book value
At 31 May 2022	725	725
At 31 May 2021	1,452	1,452

Ye	ar Ended 31 May 202	2
8	Investments
				2022	2021
	Listed on a recognised	stock exchange:
	Market value of portfolio at start of year			1,801,819	1,551,655
	Transfers (to)/ from cash			(38,132)	(2,297)
	Net investment/(withdrawals)	made	in the year	(59,501)	(58,273)
	Realised and unrealised	gains/(losses)
	on investments			42,392	310,734
	Market value at end ofyear			1,746,578	1,801,819
	UK cash held as part ofthe Investment
	Portfolio:
	Balance at start of year			63,938	61,641
	Transfer from/(to) listed investments			38,132	2,297
	Balance at end ofyear			102,070	63,938
	Investment in subsidiary	undertaking:
	Balance at 1 June 2021 and 31 May 2022			2,000	2,000
				1,850,648	1,867,757
	Historical cost of listed	investments
	at end ofyear			1,645,165	1,612,474
9	Debtors
				2022	2021
	Amounts due within one year:
	Accrued income			2,253	17,735
	Prepayments			7,947	2,581
				10,200	20,316

Creditors
			2022	2021
			E	E
Amounts	falling due	within one year:
Accruals			18,416	91,022
Due to EBCTrading		Limited	2,000	2,000
Grant payable			33,333
			53,749	93,022
Amounts	falling due	after more than one year:
Grant payable			33,333
			33,333

nalysis o	ffunds
		Balance				Gains &	Funds
		b/fwd	Income	Expenditure	Transfers	(Losses)	c/fwd
Analysis of Fund movements
—current year
Restricted	fund	873,467	16,165	(185,718)		24,357	728,271
Unrestricted	fund:
Capital		300,000	4,115		(11,111)	6,996	300,000
General		473,364	117,652	(197,199)	11,111	11,039	415,967
Total		1,646,831	137,932	(382,917)		42,392	1,444,238
Analysis of Fund movements
—previous	year
Restricted	fund	852,229	17,113	(146,734)		150,859	873,467
Unrestricted	fund:
Capital		300,000	3,474		(77,961)	74,487	300,000
General		343,907	166,205	(200,097)	77,961	85,388	473,364
Total		1,496,136	186,792	(346,831)		310,734	1,646,831

Analysis	of	Net Assets Betwee	n Funds —current y	ear
			Restricted		Unrestricted	funds	Total
			Funds		Capital	General	2022
Tangible	fixed assets					725	725
Investments			858,310		300,000	692,338	1,850,648
Current	assets		381,453			(198,573)	182,880
Current	liabilities		(8,559)			(45,190)	(53,749)
Non-current		liabilties				(33,333)	(33,333)
Provisions			(502,933)				(502,933)
			728,271		300,000	415,967	1,444,238
Analysis	of	Net Assets Between Funds —previous		year
			Restricted		Unrestricted	funds	Total
			Funds		Capital	General	2021
Tangible	fixed assets					1,452	1,452
Investments			884,569		300,000	683,188	1,867,757
Current	assets		384,454			(127,072)	257,382
Current	liabilities		(8,818)			(84,204)	(93,022)
Provisions			(386,738)				(386,738)
			873,467		300,000	473,364	1,646,831

			2022	2021
Provision	at 1 June	2021	386,738	290,000
Provision	utilised in	the year
Additional	provision	in the year	116,195	96,738
Provision	at 31 May	2022	502,933	386,738

Year Ended 31 May	20	22
						2022		2021
Income
Donations and legacies
Donations					374
Legacy (mineral rights)					101,319		143,237
						101,693		143,237
Charitable Activities
Contributions from EBC Houses							8,076
Year Book and Ordo					7,835		9,299
Visitation					880	8,715		17,375
Investments
Equity and gilt income receivable Bank interest receivable					26,774 155		25,216 381
						26,929		25,597
Other:
Royalties Sundry income					206 389	595	169 414	583
Total income						137,932		186,792
Expenditure Costs ofraising funds:
Investment managers fees						17,185		15,421
Charitable activities:
Office costs —Douai Printing, postage, stationery		and computer				6,650 2,013		5,600 3,229
Education and training ofcongregation members expenses Commission expenses —continuing formation Commission expenses —Abbots' conference Fort Augustus costs —incurred in year Fort Augustus —increase in provision						13,908 1,017 63,402 116,195		12,151 6,989 3,048 44,279 96,738
Insurance						555		360
Subscriptions General Chapter expenses General Chapter Preparation		Group				4,654 2,964 10,102		4,512 1,515
Visitation expenses Motor and travel —Abbot	President					3,040 23,681		229 14,616
—Inspector		of	Accounts			179		157
Miscellaneous expenses						229		173
Exchange rate difference Professional fees						(7,456) 10,774		26,247 55,475
Consultancy								7,929
Accountancy fees						6,840		7,200
Procurator in Curia						1,044		3,211
Praesidium						4,451		19,942
Holme Eden expenses Depreciation						95 727		4,815
Monks and Nuns support Telephone: Abbot President T4CG Grant						669		450 2,795 9,750
RLSS Grant						99,999
						365,732		331,410

Total expenditure			382,917	346,831
Gains/(Losses) on revaluation		and disposal of investments	42,392	310,734
Net (Decrease)/Increase	in funds		(202,593)	150,695