2025-04-01-accounts - The Catholic Record Society

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

REGISTERED CHARITY NUMBER: 313529

Report of the Trustees and Financial Statements for the Year Ended 31 March 2025 for The Catholic Record Society

King Hope 34 Romanby Road NORTHALLERTON North Yorkshire DL7 8NF

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

Contents of the Financial Statements for the Year Ended 31 March 2025

		Page
Report ofthe Trustees	1	to	4
Independent Examiner's Report		5
Statement of Financial Activities		6
Balance Sheet		7
Notes to the Financial Statements	8	to	16
DetailedStatementofFinancialActivities	17	to	18

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

Report of the Trustees for the Year Ended 31 March 2025

The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Catholic Record Society was established on 10 June 1904 with the aim of advancing education in connection with the history of Roman Catholicism in the British Isles since the Reformation.

Significant activities

The activities of the Society are the collation and review of articles for inclusion in the journal of the Society and the publication of manuscripts and other texts for the Society's Volumes and Monographs, the three-Day Annual Conference and the consideration of grant applications. The Society also encourages the development of regional Catholic History days.

The journal British Catholic History is available electronically, as well as in hard copy, so as to make its research results more widely available.

In addition, the activities include development of digital resources on the Society's website and continuing ongoing review of governance and succession planning.

In setting the objectives and planning the activities for the year the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit.

Membership of the Society and contributions to its activities are welcome from anyone regardless of religion, race and gender.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The Society produced its core publication British Catholic History (BCH), in conjunction with Cambridge University Press (CUP) with all past volumes and monographs available on the Society's website. During the year a technical disturbance affected the publishing at CUP and the latest BCH issue was delayed.

The Council continues to seek ways to fulfil the Society's charitable objectives and during the year held an Away Day to discuss the future plans for the Charity. During the year the Society has successfully sought to recruit new members and continues to look at new ways of doing so.

The Society published Volume 91 in the Record Series: Lay Catholic Societies in Twentieth Century Britain, with further publications in progress for release in subsequent years. Future volumes (and the recent backlist) are also available via print-on-demand and as e-books published by Boydell & Brewer.

A professional listing of the contents of the CRS archive, held at the Bar Convent Archive in York, was undertaken. The archive will undergo further cataloguing in coming years. The annual Conference was held in July 2024 at Hinsley Hall; the Trustees are aware that the rising costs of Conference attendance is a challenge and makes it difficult for income to be generated but instead sees the Conference as an outreach activity of the Society. York Catholic History Day was once again held in June 2024.

Five grants were made from restricted funds to researchers during the year, without regard to the applicants’ membership of the Society. In light of the funding available the Society is seeking to actively promote applications for grants.

Investment performance

Following a downturn in the financial markets at the financial year end, the investments have reported an overall decrease in value of £36,983 (being unrealised losses net of deemed dividend income). Incorporating deemed dividend income of £20,452, this gives a net loss of £16,531 and represents a drop of 1.99% on the Society's investment portfolio for the twelve months ended 31 March 2025.

Income is automaticaily reinvested in the portfolio, but this decision can be reversed if circumstances change.

FINANCIAL REVIEW

Investment policy and objectives The Society's investments are managed by CCLA Fund Managers Ltd in accordance with the constitution.

The investment approach is considered to be conservative but does contain a large proportion of equities which could be volatile in the short term.

Page 1

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

Report of the Trustees for the Year Ended 31 March 2025

FINANCIAL REVIEW

Reserves policy

It is the policy of the Society to maintain sufficient funds to cover management and administration and support costs and planned publications, for which donations are not received, for the following twelve months. The unrestricted liquid funds at the year end amounted to (£11,218) (2024 - £4,645).

The Trustees are aware of the position at 31 March 2025 and note that the nature of the funds held with CCLA Fund Managers Ltd are such that investments can be realised as and when required, acknowledging market pricing will prevail at the time of realisation.

The Trustees will aim to create a liquid reserve of £20,000 which will be reviewed from time to time, through withdrawal from investments post year end.

A summary of the financial results is shown on page 6.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The Catholic Record Society is a membership society governed by a constitution most recently amended at the Annual General Meeting held on 23 July 2024. It is a charitable organisation registered under the Charities Act 2011.

Charity constitution

The Charity shall be managed by a Council of Trustees ("The Council") who are elected at the Annual General Meeting (AGM) of the Society. The Council are the Trustees for the Society in accordance with Charity Law.

There shall be no fewer than six Trustees and a maximum of twelve. Up to nine Trustees will be elected at the AGM and hold office for a period of three years. They will be eligible for re-election for up to two further terms. Trustees must be members of the Society.

In addition, three members will be appointed by the elected Trustees to serve as Editor of the CRS Volumes Series, Editor of the British Catholic History (BCH) Journal and a member of the BCH Editorial Board. The appointed Trustees will be members of the Society and selected for their expertise. They will serve as Trustees for as long as they hold their role.

Organisational structure

The Society has five committees supporting the Council to deliver its objectives. The membership of each committee is appointed by the Council and reports back to the Council at each of its meetings. Each committee shall consist of two Trustees, one of whom shall be appointed chair of the committee. The Council will have the power to co-opt on to the committees other members of the Society, who are not Trustees, selected for their specialist skills. The committees are:

Finance Committee
- Conference Committee - Awards Committee
| Membership and Communications Committee
Publications Committee

In addition to the Council's own committees, the British Catholic History Journal Editorial Board shall include two of Trustees.

The Council may appoint a President of the Society. The position is honorific and carries no responsibility for the financial management and administration of the Society. The Council may at any time terminate such appointments. The Council may also appoint honorary life members of the Society in recognition of their contribution to the Society and its work. The Council shall use its best endeavours to retain a member of the Catholic Bishops Conference of England and Wales as Patron of the Society at all times.

Membership of the Society Full membership of the Society is open to:

a) _ individuals of 16 years and over who are interested in furthering the work of the Society and who have paid the annual subscription as fixed from time to time by the Council;
b) national, international and local voluntary organisations including libraries, learned societies, diocesan archives and religious communites or houses which are interested in furthering the work of the Society and have paid the annual subscription as fixed from time to time by the Council.

Page 2

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

Report of the Trustees for the Year Ended 31 March 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees annually review the risks that the Society faces. To date these have mainly related to investment management and have been ameliorated by diversified portfolio management.

The Council has examined the major strategic business and operational risks which the Society faces and confirms that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 313529

Principal address 114 Mount Street LONDON W1K 3AH

Trustees Custodial Trustees (under old constitution to 2024 AGM) Mr S DA Jamieson Mr A Fitzalan Howard Mr P H G Doyle MA, PhD, FRHist S - retired 24.07.2024 Mrs J A Smeaton, BA, MA

Elected & Appointed Members of Council (‘The Trustees’) Dr S O'Brien - Chair Dr P Arblaster - Volumes Editor Dr C M Gibbons - BCH Editor Rev P E B Harris - Treasurer Dr C M Mangion - Membership Secretary Dr P B Nocklies, PhD - resigned 24.07.2024 Professor J F Champ Dr M C Power - resigned 24.07.2024 Dr H Kilburn, FHEA - Conference Director Dr L Temple - Communications Dr S Jacob - Secretary Dr J Kelly - appointed 24.07.2024 Mrs J A Smeaton, BA, MA - appointed 24.07.2024 Dr A Harris - appointed 10.10.2024

President / Patron The Rt Revd Mgr Nicholas Hudson MA, STL, Auxiliary Bishop in the Archdiocese of Westminster

Vice Presidents

The Rt Revd Dr Abbot G Scott OSB, MA, PhD, FSA, FRHistS The Lord Mark Fitzalan Howard OBE Professor Dr V.A. McClelland, MA, PhD, FRHistS

Page 3

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

Report of the Trustees for the Year Ended 31 March 2025

Committees Finance Fr Peter Harris Dr S O'Brien Mr P Powell (co-opted) Mr A Fitzalan Howard (co-opted) Mr S D A Jamieson (co-opted)

Publications Dr P Arblaster Professor J F Champ Professon V Houliston (co-opted)

Editorial Board Dr C M Gibbons Dr A Harris

Awards Dr J Kelly Dr A Harris Dr S James (co-opted) Conferences Dr H Kilburn, FHEA Dr S Johanesen (co-opted) Membership and Communications Dr C M Mangion Dr L Temple M Keightley-Phillipps (co-opted)

Independent Examiner Sarah Anderson BSc (Hons) FCA King Hope 34 Romanby Road NORTHALLERTON North Yorkshire DL7 8NF

Bankers The Royal Bank of Scotland Ple London Belgravia Branch 24 Grosvenor Place LONDON SW1X 7HP

Investment Advisers CCLA Fund Managers Limited Senator House 85 Queen Victoria Street London EC4V 4ET

Approved by order of the board of trustees on 7 July 2025 and signed on its behalf by:

Signed by: BF9BA1DDDFOO04DE... Dr S O'Brien - Trustee

Page 4

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

Independent Examiner's Report to the Trustees of The Catholic Record Society

Independent examiner's report to the trustees of The Catholic Record Society

| report to the charity trustees on my examination of the accounts of The Catholic Record Society (the Trust) for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

| report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination | have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

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

accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

| 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 accounts to be reached.

Prawn fadeSoy

Sarah Anderson BSc (Hons) FCA

King Hope 34 Romanby Road NORTHALLERTON North Yorkshire DL7 8NF

7 July 2025

Page 5

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

Statement of Financial Activities for the Year Ended 31 March 2025

==> picture [455 x 369] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2025|2024| |Unrestricted|Restricted|Total|Total| |fund|funds|funds|funds| |Notes|£|£|£|£| |INCOME|AND|ENDOWMENTS|FROM| |Donations|and|legacies|2|1,200|-|1,200|1,000| |Charitable|activities|4| |Publications|&|Subscriptions|12,575|-|12,575|12,215| |Conferences|9,630|-|9,630|6,928| |Investment|income|3|14,247|6,733|20,980|20,174| |Total|37,652|6,733|44,385|40,317| |EXPENDITURE|ON| |Charitable|activities|5| |Publications|&|Subscriptions|9,419|-|9,419|8,699| |Conferences|14,141|-|14,141|11,008| |Grants|-|3,897|3,897|1,850| |Management|& Admin.|12,856|-|12,856|8,980| |Total|36,416|3,897|40,313|30,537| |Net|gains/{losses)|on|investments|(24,908)|(12,075)|(36,983)|70,877| |NET|INCOME/(EXPENDITURE)|(23,672)|(9,239)|(32,911)|80,657| |RECONCILIATION|OF|FUNDS| |Total|funds|brought forward|569,073|275,885|844,958|764,301| |TOTAL FUNDS CARRIED FORWARD|545,401|266,646|812,047|844,958|

----- End of picture text -----

The notes form part of these financial statements

Page 6

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

	Balance Sheet	Balance Sheet
	31	March 2025
				2025	2024
		Unrestricted	Restricted	Total	Total
		fund	funds	funds	funds
	Notes	£	£	£	£
FIXED ASSETS
Intangible assets	11	2,893	-	2,893	2,955
Tangible assets Investments	12 13	786 552,940	- 262,648	786 815,588	1,048 832,119
		556,619	262,648	819,267	836,122
CURRENT ASSETS
Debtors	14	4,050	-	4,050	3,889
Cash in hand		3,015	3,998	7,013	26,582
		7,065	3,998	11,063	30,471
CREDITORS
Amounts falling due within one year	15	(18,283)	-	(18,283)	(21,635)
NETCURRENTASSETS		(11,218)	3,998	(7,220)	8,836
TOTALASSETS LESS CURRENT LIABILITIES		545,401	266,646	812,047	844,958
NETASSETS		545,401	266,646	812,047	844,958
FUNDS	16
Unrestricted funds				545,401	569,073
Restricted funds:
Rt Rev Michael! Williams Fund				228,196	235,002
David Rogers Research Fund				9,191	11,041
The AndrewC Duncan Catholic History Trust				29,259	29,842
				266,646	275,885
TOTALFUNDS				812,047	844,958

TOTAL FUNDS

The financial statements were approved by the Board of Trustees and authorised for issue on 7 July 2025 and were signed on its behalf by:

[ s.SignedBF9BA1DDDFOO4DE... by:O sien Dr S O'Brien - Trustee

The notes form part of these financial statements

Page 7

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

Notes to the Financiai Statements for the Year Ended 31 March 2025

ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared _ in accordance with the Charities SORP (FRS 102) ‘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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably apart from Life Subscriptions which are credited to unrestricted funds over a period agreed by the Trustees.

The following specific policies are applied to particular categories of income:

Voluntary income is received by subscriptions and donations and is included in full in the Statement of Financial Activities when receivable. Any income received from Life Subscriptions is recognised on receipt.
Investment income is included when receivable, including the element of deemed income on accumulation units.
Incoming resources from charitable trading activity are accounted for when earned.
Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.

Costs of generating funds comprise the costs associated with attracting voluntary income where applicable and the costs of investment management.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examiners fees and costs linked to the strategic management of the charity.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Intangible assets

Intangible assets relates to production of digital resources and website development costs which are amortised on a straight line basis over periods of 10 and 4 years respectively.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

25% on cost

Taxation

The charity is exempt from tax on its charitable activities.

Page 8

continued...

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

The Catholic Record Society

1. ACCOUNTING POLICIES - continued

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.	DONATIONS AND LEGACIES
			2025	2024
			£	£
	Donations		1,200	1,000
3.	INVESTMENT INCOME
			2025	2024
			£	£
	Dividends & Unit Trust Income		20,452	19,586
	Deposit Interest		528	588
			20,980	20,174
4,	INCOME FROM CHARITABLE	ACTIVITIES
			2025	2024
	Subscriptions	Activity Publications & Subscriptions	£ 8,629	£ 8,764
	Sale of Back Issues and
	Royalty Income	Publications & Subscriptions	3,946	3,451
	Annual Conference &
	General Meeting	Conferences	9,159	6,744
	York Catholic History Day	Conferences	471	184
			22,205	19,143
5.	CHARITABLEACTIVITIESCOSTS

CHARITABLE ACTIVITIES COSTS
		Grant
		funding	of
	Direct	activities		Support
	Costs (see	(see note		costs	(see
	note 6)	7)		note	8)	Totals
	£	£		£		£
Publications & Subscriptions	9,419		-		-	9,419
Conferences	14,141		-		-	14,141
Grants	-	3,897			-	3,897
Management & Admin.	-		-	12,856		12,856
	23,560	3,897		12,856		40,313

Page 9

continued...

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

6. DIRECT COSTS OF CHARITABLE ACTIVITIES

6.	DIRECT COSTS OF CHARITABLE ACTIVITIES
		2025	2024
		£	£
	Annuai Conference & General Meeting	13,659	10,605
	York Catholic History Day	482	403
	CUP Member charge	1,110	2,422
	Storage & mailing costs	198	516
	The Life and Letters of LadyAnne Percy	-	5,761
	Lay Catholic Societies in Twentieth Century Britain	8,111	-
		23,560	19,707
7.	GRANTS PAYABLE
		2025	2024
		£	£
	Grants	3,897	1,850

During the year grants, applications were made to	During the year grants, applications were made to	the Rev.	Michael Williams	Research and David	Research and David	Rogers
Research Funds and total awards of £2,264 and	£1,633 respectively were made.			In the prior year, grants were
made from unrestricted funds totalling £1,850.
SUPPORT COSTS
			Information	Governance
	Management		technology	costs	Totals
		£	£	£		£
Management &Admin.		5,573	1,129	6,154	12,856
Support costs, included in the above, are as follows:
				2025	2024
				Management	Total
				& Admin.	activities
				£		£
Postage and stationery (refunded to
Trustees)				59		82
Archives sorting and listing				1,500		-
Sundries				2,002	2,000
Website maintenance				2,012		1,252
Amortisation of intangible fixed assets				867		861
Depreciation oftangible fixed assets				262		349
Council Meeting Costs (refunded to
Trustees)				1,209		920
Room hire for Council Meeting				1,166		81
Independent Examiners Fees				495		470
Accountancy				3,104	2,777
Bank charges				146		148
Paypal charges				34		40
				12,856	8,980

SUPPORT COSTS

Page 10

continued...

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

TRUSTEES’ REMUNERATION AND BENEFITS

The Catholic Record Society

There were no trustees’ remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

		2025	2024
		£	£
Trustees'	expenses	1,268	1,002

The expenses were paid to Council Members as reimbursement of out of pocket expenses and for travel costs incurred for attendance at Council Meetings.

2024COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	2024COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
	Unrestricted	Restricted	Total
	fund	funds	funds
	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies	1,000	-	1,000
Charitable activities
Publications & Subscriptions	12,215	-	42,215
Conferences	6,928	-	6,928
Investment income	13,608	6,566	20,174
Total	33,751	6,566	40,317
EXPENDITURE ON
Charitable activities
Publications & Subscriptions	8,699	-	8,699
Conferences	11,008	-	11,008
Grants	1,850	-	1,850
Management & Admin.	8,980	-	8,980
Total	30,537	-	30,537
Net gains on investments	48,021	22,856	70,877
NET INCOME	51,235	29,422	80,657
RECONCILIATION OF FUNDS
Total funds brought forward	517,838	246,463	764,301
TOTALFUNDSCARRIEDFORWARD	569,073	275,885	844,958

Page 11

continued...

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

11.	INTANGIBLE FIXED ASSETS
		Digital Resources	Website development	Totals
		£	£	£
	COST
	At 1 April 2024	7,857	3,640	11,497
	Additions	805	-	805
	At 31 March 2025	8,662	3,640	12,302
	AMORTISATION
	At1 April2024	4,902	3,640	8,542
	Charge foryear	867	-	867
	At 31 March 2025	5,769	3,640	9,409
	NET BOOKVALUE
	At 31 March 2025	2,893	-	2,893
	At 31 March 2024	2,955	-	2,955
12.	TANGIBLE FIXEDASSETS
				Equipment
				£
	COST
	At 1 April 2024 and 31 March 2025			1,862
	DEPRECIATION
	At 1 April 2024			814
	Charge foryear			262
	At 31 March 2025			1,076
	NET BOOKVALUE
	At 31 March 2025			786
	At 31 March 2024			1,048
13.	FIXEDASSET INVESTMENTS
				Listed
				investments
				£
	MARKETVALUE
	At 1 April 2024			832,119
	Additions Revaluations			20,452 (36,983)
	At 31 March 2025			815,588
	NET BOOK VALUE
	At 31 March 2025			815,588
	At31March2024			832,119

All investments were held in the UK to provide an investment return for the charity and were as follows:

Page 12

continued...

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

Notes to the Financial Statements - continued for the Year Ended 34 March 2025

13. FIXED ASSET INVESTMENTS- continued

		Market Value	31 March	2025	31	March 2024
		Unrestricted	Restricted			Market
	Cost £	Fund £	Fund £	Total £	Cost £	Value £
COIF Charities Investment
Fund	720,306	549,293	266,295	815,588	699,854	832,119
(Accumulation Units)
	720,306	549,293	266,295	815,588	699,854	832,119
Cost orvaluation at 31 March 2025 is represented by:
						Listed
						investments
						£
Valuation in 2021						30,476
Valuation in 2022						56,429
Valuation in 2023						(25,517)
Valuation in 2024						70,877
Valuation in 2025						(36,983)
Cost						720,306
						815,588

The Society's Portfolio has been independently valued by CCLA Fund Managers Limited.

14, DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

14,	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£
	Royalties due	3,154	2,868
	Prepayments	896	1,021
		4,050	3,889
15.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£
	Other creditors	16,406	19,998
	Subscriptions received in advance	1,877	1,637
		18,283	21,635

Included within other creditors is an amount of £11,188 (2024 - £15,539) for member copies to be invoiced by Cambridge University Press.

Page 13

continued...

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

16. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
			Net
			movement	At
		At 1.4.24	in funds	31.3.25
		£	£	£
Unrestricted funds
General fund		569,073	(23,672)	545,401
Restricted funds
Rt Rev Michael Williams Fund		235,002	(6,806)	228,196
David Rogers Research Fund		11,041	(1,850)	9,191
The Andrew C Duncan Catholic History
Trust		29,842	(583)	29,259
		275,885	(9,239)	266,646
TOTAL FUNDS		844,958	(32,911)	812,047
Net movement in funds, included in the above are as follows:
	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
	£	£	£	£
Unrestricted funds
General fund	37,652	(36,416)	(24,908)	(23,672)
Restricted funds
Rt Rev Michael Williams Fund	5,743	(2,263)	(10,286)	(6,806)
David Rogers Research Fund	267	(1,634)	(483)	(1,850)
The Andrew C Duncan Catholic History
Trust	723	-	(1,306)	(583)
	6,733	(3,897)	(12,075)	(9,239)
TOTAL FUNDS	44,385	(40,313)	(36,983)	(32,911)
Comparatives for movement in funds
			Net
			movement	At
		At 1.4.23	in funds	31.3.24
		£	£	£
Unrestricted funds
General fund		517,838	51,235	569,073
Restricted funds
Rt Rev Michaet Williams Fund		209,953	25,049	235,002
David Rogers Research Fund		9,864	1,177	11,041
The Andrew C Duncan Catholic History
Trust		26,646	3,196	29,842
		246,463	29,422	275,885
TOTALFUNDS		764,301	80,657	844,958

Page 14

continued...

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

16. MOVEMENT IN FUNDS- continued

Comparative net movement in funds, included in the above are as follows:

==> picture [424 x 546] intentionally omitted <==

----- Start of picture text -----
|||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Incoming|Resources|Gains|and|Movement| |resources|expended|losses|in|funds| |£|£|£|£| |Unrestricted|funds| |General|fund|33,751|(30,537)|48,021|51,235| |Restricted|funds| |Rt|Rev|Michael|Williams|Fund|5,579|-|19,470|25,049| |David|Rogers|Research|Fund|262|-|915|1,177| |The|Andrew C|Duncan|Catholic|History| |Trust|725|-|2,471|3,196| |6,566|-|22,856|29,422| |TOTAL|FUNDS|40,317|(30,537)|70,877|80,657| |A|current|year|12|months|and|prior|year|12|months|combined|position|is|as|follows:| |Net| |movement|At| |At|1.4.23|in|funds|31.3.25| |£|£|£| |Unrestricted|funds| |General|fund|517,838|27,563|545,401| |Restricted|funds| |Rt|Rev|Michael|Williams|Fund|209,953|18,243|228,196| |David|Rogers|Research|Fund|9,864|(673)|9,191| |The|Andrew|C|Duncan|Catholic|History| |Trust|26,646|2,613|29,259| |246,463|20,183|266,646| |TOTAL|FUNDS|764,301|47,746|812,047| |A|current|year|12|months|and|prior|year|12|months|combined|net|movement|in|funds,|included|in|the|above| |as|follows:| |Incoming|Resources|Gains|and|Movement| |resources|expended|losses|in|funds| |£|£|£|£| |Unrestricted|funds| |General|fund|71,403|(66,953)|23,113|27,563| |Restricted|funds| |Rt|Rev|Michael|Williams|Fund|11,322|(2,263)|9,184|18,243| |David|Rogers|Research|Fund|529|(1,634)|432|(673)| |The Andrew|C|Duncan|Catholic|History| |Trust|1,448|-|1,165|2,613| |13,299|(3,897)|10,781|20,183| |TOTAL FUNDS|84,702|(70,850)|33,894|47,746|

----- End of picture text -----

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Page 15

continued...

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

RELATED PARTY DISCLOSURES

Please refer to note 9 in respect of Trustees expenses reimbursed.

Following the retirement of Mr P Powell as honorary treasurer and agreement by the custodial trustees, he has been paid an ex gratia amounts of £2,000 in both 2024/25 and 2023/24 in recognition of on-going support to provided to the current treasurer. Following the changes in the constitution of the Society Mr Powell has been co-opted to the Finance Committee.

Included within grants payable in the prior year was an amount of £1,000 awarded to Dr M Power, a member of the Council during the year, together with two other researchers. In making this award, the trustees were satisfied the grant was within the charity's objectives and have taken the necessary steps to ensure no conflict of interest arises.

RESTRICTED FUNDS

David Rogers Research Fund The David Rogers Research Fund was established to help defray the costs of travel to libraries and archives by researchers.

Rt Rev Michael Williams Fund In 2006/07 a donation of £125,000 was received from the Rt Rev Michael Williams and a restricted fund established. The purpose of the fund is to encourage the study of historical connections between Roman Catholicism in England and Wales with the situation in other countries in Europe in the post reformation era through grants to defray the travel and basic subsistence costs of research. The Andrew C Duncan Catholic History Trust The funds were transferred to the Society in March 2023, with the trust having been originally founded by the fate Captain Andrew C. Duncan, OBE, RN, to provide bursaries primarily for students from outside the United Kingdom wishing to come to Britain for a short time to study aspects of the history of the Catholic Church in Great Britain since the Reformation.

Each of the three restricted funds are open to any applicant.

Sufficient resources in each fund were held in liquid form to enable the fund to be applied within its terms. During the year income from investments and cash deposits has been added to each fund; resources expended relate to grant awards.

Page 16

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

Detailed Statement of Financial Activities
for the Year Ended 31 March 2025
	2025	2024
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Donations	1,200	1,000
Investment income
Dividends & Unit Trust Income	20,452	19,586
Deposit Interest	528	588
	20,980	20,174
Charitable activities
Subscriptions	8,629	8,764
Sale ofBack Issues and Royalty Income	3,946	3,451
Annual Conference & General Meeting	9,159	6,744
York Catholic History Day	474	184
	22,205	19,143
Total incoming resources	44,385	40,317
EXPENDITURE
Charitable activities
Annual Conference & General Meeting	13,659	10,605
York Catholic History Day	482	403
CUP Membercharge	1,110	2,422
Storage & mailing costs	198	516
The Life and Letters of LadyAnne Percy	-	5,761
Lay Catholic Societies in Twentieth Century
Britain	8,111	-
Grants to individuals	3,897	1,850
	27,457	21,557
Support costs
Management
Postage and stationery (refunded to Council
members)	59	82
Archives sorting and listing	1,500	-
Sundries	2,002	2,000
Website maintenance	2,012	1,252
	5,573	3,334
Information technology
Digital Resources	867	786
Website development	.	75
Depreciation ofequipment	262	349
	1,129	1,210
Governance costs
Council Meeting Costs (refunded to Trustees)	1,209	920
Room hire for Council Meeting	1,166	81
Independent Examiners Fees	495	470
Accountancy	3,104	2,777
Carriedforward	5,974	4,248

This page does not form part of the statutory financial statements

Page 17

Docusign Envelope ID: 24512D92-A30E-4E3A-860F-639F2D29E568

The Catholic Record Society

Detailed Statement of Financial Activities
for the Year Ended 31 March 2025
	2025	2024
	£	£
Governance costs
Brought forward	5,974	4,248
Bank charges	146	148
Paypal charges	34	40
	6,154	4,436
Total resources expended	40,313	30,537
Net income before gains and losses	4,072	9,780
Realised recognised gains and losses
Unrealised gains/(losses) on fixed asset
investments	(36,983)	70,877
Net(expenditure)/income	(32,911)	80,657

This page does not form part of the statutory financial statements

Page 18