NOThINGHAM DIOCESAN SICK AND REnRED PRIEsfs FUND ISRPF CHARITY NUMBER 510119 CORPORATE TRUSTEE'S REPORT FOR THE YEAR ENDED 31ST MARCH 2023. Nottingham Roman Catholic Oiocesan Trustees {referred to hereinafter as the Dioce5el, as corporate trustee of the Nottingham Diocesan Sick and Retired Priests Fund Ireferred to herein as the Charityl. has pleasure in presenting the Annual Report and Accounts of the Charity for the year ended on 31" March 2023. They were approved by the Diocese on 14th December 2023. Objectives and Activities The purpose of the Charity is "to provide relief to needysick t7nd needy retired per50n5 who ore or who hove been priests of the DCese. Ireferred hereinafter as the SRPF Purposel. it ha5 continued to give grants to and make payments on behalf of beneficiaries accordlngto the SRPF Purpose. The grants have been either payable dlrertty to the beneficiaries themselve5 OT for their SUPFJOrt, for exarnple to care homes. Accordingly, the main actNity undertaken to furtherthe wrpose of the Charity for the public beneftt is the relief of poverty- In making this statement the ohse ha5 had regard to the Charity Commission's guidance on public benefft. Its concern is to ensure that the beneficlaries are able to retlre with a reasonable standard of living and dignity. No staff are directly employed by the Charity. the administrative support being provided by the Diocese. Volunteers assist with the work of supporting the beneficrdries. but tt Is not practicable to evaluate their contribution in terrns of hou¥$ or5taff equIVanI5. Related Party Transaction All funds received during the year have been transferred to the Diocese. the fund5 to be placed In a restrlcted fund of the Diocese with the same purposè as the Charity li.e. the SRPF Purposel. which 15 included within the broader objects of the DceSe, which are-_ 111 The advancement of the Roman Catholic religion in the area of the Roman Catholic Diocese of Nottingham as determined under the laws of the Roman Catholic Church and in accordance wilh them. 121 The advancement of any charitable purpose supported by the Roman Catholic Church in any part of the world. The Trustees of the Diocese have determined that the assets of the re5trKted Si¢k and Retired Priests Fund of the DKJcese will be used wholly for the SRPF Purw5e. The Trustees of the Diocese, as corporate trustee of the Charity, believe the donation will be in the interests of Its beneficiaiies by allowing the combined investment portfolio of the Charity and the Diocese to generate greater returns. simplifying management and administration and giving the Truslees of the Diocese greater flexibility over the all¢Xation ol rèsources in furthering its object5. 5pecifi'call¥, where thi5 donation is concerned. the SRPF Purpose. No person who could currently benefit from the Chartty will be prevented from benefiting from the restrirted fund of the Diocese sOty due to the donation and the resulting transfer of assets from the Charity to the Oiocese.
NOThINGHAM DIOCESAN SICK AND REnRED PRIESTS FUND ISRPFI CHARITY NUMBER 510119 CORPORATE TRUSTEE'S REPORT FOR THE YEAR ENDED 31ST MARCH 2023 From l February 2022, all grants, donations and cosis associated wlth the SRPF Purpose have been expended by the DI0Se and Charged against the new formed restricted Sick and Retired Prlests Fund. For admln6trative rea50n5. some funds of the Chafity have been retalned by the Charity. However, the intention is that these assets will aLso be donated to the Diocese for the SRPF Purpose. In due course. once the Chartty no longer has any assets or income, an application wlll be made to the Charity Commission for the Charity to be wound up. Achievements & Performance The Charity made no grants in 202212023 as thi5 is now undertaken by the Diocese. The Charlty has tranSferd all its investments to the Diocese. Ananclal Revlew The flnances of the tharity are as shown In the annual accounts. The Investment Policy of the Diocese provJes that it may requSre dLslnvestment of any holding not considered acceptable in the context of a Catholic diocese. The policy of the torporate trustee is to hold SuOent reserves io ensure that all actual and potential beneficiaries may be supported adequaiety for their expected life span as set out in the Government Actuaries Department life tsble5 after PTovidin£ for any payments from the DI0$e to the charity to support Its potential beneficiaries. From l February 2022, thi5 poIiLy 15 being applied by the Diocese through its reStrted Sick and Retired Priests Fund. The reseTves at 31" March 2023 are £0 thousanfl12022.. £152 thousand). The zero balance in the reserves b due to transfer of all assets and income from the charity to the Oioce5e. Plans for Future Perlods AhoUgh the appeal launched in 2012 Is now largely concluded, some donations contlnue to be eived by the Charity from a generous and supwrtive ldY of donors. These will periodically be donated io the Diocese for the SRPF Purpose. Strurture Govemance and Management The charity 15 constituted under rts trnst deed whlch was last updated on 8, March 2010 in order to provJe for the appointment of the sole Corrate truslee. The appointment of the trustees is bythe Bishop of Nottingham. The Charity is managed by the Diocese, its ¢orpornte trustee. and further informatlon about the Diocese can be obtained from its Annual Report and Accounts. Major risks have been reviewed and systems or procedures have been established to manage those risks.
NOThINGHAM DIOCESAN SICK AND RETIRED PRIEsfs FUND ISRPFI CHARITY NUMBER 510119 CORPORATE TRUSTEE'S REPORTFOR THE YEAR ENDED 315TMARCH 2023 Reference and Admlnlstratl¥e Detams The Charity is ihe Nottingham Di0$an SKk and Retiied Priests Fund, reglsiered number 510119. and Is known gerallY bythat name. The adress of Its principal office t5.. Diocese of Nottingham I Castle Quay. Castle Boulevard Nottingham. NG7 IFW The inveslments are hèld In ihe name of the investment mana8erfs nomineè company. The membeis Of the Clergy Health & Wellbein8 Committee durin8 the yèar and to the date of this report are as follow5.. Reverend P. Chipthase lin the Chairl Revend E larosz Reverend J Wheat 'RÈ¥erÈnd J Kyne {Episcopal for aergyl "Rev Mr Anthony Corde5 *Mrs Frances Cordes 'Mr D Lawe5 'Mr J. GamTAe 'Mr C.B.A. Reynolds "Non-votin8 membÈts. The day to day running of the Charity 15 thè responsibility of the Chief Operatlng Officer ol the Diocese IDavid Lawesl. The bankers to the charity are.. Uoyds Bank plc 12-16 Lower Parlvament Street NotlinBham NGI 3DA The independent examiners to the tharity Higson & Co luntiUy.è 20221 White House Wollaion Street Nottingham NGI 5GF PKF Smith Cooper Limited (from July 202212 Lace Market Square Nottingham NGI IPB The Investment Managers to the charity are- Quilter Cheviot Senator House 85 Queen Victoria street London EC4V 4AB
NOThINGHAM DIOCESAN SICK AND REfiRED PRIESTS FiIND1SPPF) CHARITY NUMBER 510119 CORPORATE TRUSTEE'S REPORT FOR THEYFARENDED 315tMARCH 2023 Other matters The accounts of thetharity ale cowwlidated into the accwntsof tht Diocese. its Corporae trustee. No complaints have been reteNed in relation to fundraisin& In its fundraisi the charlty does not require donalion5 from vulnerable people. No funds a held by the tharity as custodian trustee on behall of others. SYATEMENT OFTRUSTEE'S RESPONSIBIUTIES The Trustees are resw)nsible for preparing the annual report. the strateglc report and the financial statements in accordance wtth applKalAe law including the Charities IAccounts and Report51 Regulations 2LKIB and United Kingdom GenerallyAccepted Accounting Practice. The law apFAicable to charitles in En8land and Wales requires rheTrustees to prepare financlal statements for each financial year which wve a ime and fwrview of the state of affairs of the charity and of the surplus or deficit of the Charityfor that period. In prepariw these finantial statements. the Trustee is reouired to- selert suitable accourbtinB poIKies and then applythem consistentty. make j1@MentS and estimates that are rea%)nable and prudent- and prepare ihe financial statements on the E(xn8 concern basis unless it i5 inapwopriate to presurne that the charliy will continue in operation. The Trustees are restKJnsiblefor keeping proper accountlng rec$ whKh dJs(105e with reasonable (racY at any time the finanual position of the (harity and which enable them to ensure that the financial statements comply with the apkAicable law and provisions of the trust deeds. The Trustee5 are also responsible for sale8uardingthe assets of the charity and for taking reasonaile step5for the pwention and (knection of fraud and other irTe8ularities. On behalf of the Trustee Rl8ht Reverend P.J. McKiftney pof 140ttingham and Chairmar of the Board ol Directors of Nottingham Roman Catholic iote5an Trustees the soleirnsree of the Charity- Dated 14th Detember 2023
NOINGHAm DIOCESAfrI SICKAND RETIRED PRIEST5 FUND ISRPF) CHARITY NUMBER $10119 Independent èxaminerfs report to the trustee's of NottiaM Roman Catholic Sick And Retired Priests Fund I'ihe charity'l I report to the tharity lrnstee on my examination of thè accounts of the charity for the year ended 31 Marth 2023. This rep( is maije $elY to ihe charity's Trustees. a5 a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2OJ8. My work has been undert3kÈn so that I might state to the charl5 Trustees those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fvllest extent permitted by law, I do not aceepi or assume responsibility lo anyone other than the charity and the charity'sTrustees as a body. for mv work or for this report. Responsibilities and basls ol rnport As the trustee of the charity you are responsible for the preparatlon of the accounts in accorLlan with the requirements of the Companies fv£t 20111'the 2011 Aci'l. I report in respect of my examinatron of the tharity's accounts orried out under section 145 of the 2011 Act and in carryin8 Out rny examination I hove followed all thè applicable Directions 8Trn by the Charity Comffiission under section 14515llbl ofthe 2011 ACL Independent examiner's statemenl Your attention is drawn to the fact that the charity has wepared the accounts in accordante with Accounting and Reportln8 by Charities= statement of Recthrmended Practice applicable to charitie5 preparlng their accounts in accordance ¥th the Financial Reporting 5trdndèrd applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accountir& and Reportin8 by Charities.. Ststement of Recomrnended PrtICe Issued on l April 2CQ5 whith is referred to in the extant regulations but has been withdrawn. I have completed my examination. I confim that no matters have come to my attention in connectlon with the examination giwn8 me cause to believe: accounti re¢ords were not kept in pert of the tharity as required by 5eclion 130 of the 2011 Aet.. or the attounts do not accord with those records; or the accounts do not compty with the applicable requirements eoncemin8 the f¢th and content of accounts set out in the (Jaritie5 IAccounts and Reportsl Regulation5 2008 other than anv requirement that the accounts 8Ne a 'true and fair. view which is not a matter considered a5 part of an independent exafflination. I have n¢* ¢on¢erns and have come a(ross no other matter5 in Connection with the examination to which attention shouh4 be drawn in this report in orderto enable a proper understanding of the accounts to be reached. Si8ned= Dated.. 15 December 2023 sarah Hear ACA lor & on the behalf of PKF Smith CLwJper Mited 2 Lace Market Square. Nottingham, NGI IPB
NOThINGHAM DIOCESAN SICK AND RETIRED PRIESTS FUND ISRPF) ANNUAL ACCOUNTS FOR THE YEAR ENDED 315T MARCH 2023 StATEMENT OF FINANaALAFFAI FOR YEAR ENDED 31ST MARCH 2023 2023 £OOOs 2022 INCOMING RESOURCES Donatlons Appeal Gift Aid Refunds Second Collectio Legacies Rental income dend & Interesl Income 19 20 16 24 47 li 18 178 67 296 RESOURCES EXPENDED Investment Management Oonations Grants Miscellaneous costs 220 8.545 305 220 8,912 TRANSFERS INTRA DIOtsSE Appeal donations from Parishes OTHER RECOGNISEO GAINSILOSSES Profitl (Loss) on investments IDEFICITI I SURPLUS FOR THE YEAR 11521 18.1651
NOTllNGHAM DIOCESAN SICK AND RETIRED PRIESTS FUND (SRPFI ANNUAL ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2023 BALANCE SHEET AT 31ST MARCH 2023 Note 2022 £OOOs FIXED ASSETS Investments CURRENT ASSETS AMD UABILtriES Current A>sets Cash at Bank Deblor5 130 26 156 Less.. Current Liabilities Net Current Assets 152 NET ASSErs 152 FUND BALANCES Accumulated surplus brought fop*ard Current Yèar IDefiatl I Surplus on Income over Expenditure 152 8.318 {1521 18.1651 Attumulated Surplus carried forward 152 Approved by the trustee on 14 December 2023 Right Reverend P J McKlnney 8hOp of Nottingham and Chaimian of the Board of Dirèctors of Nottingham Roman Catholic Diocesan Trustee5 the sole trustee of the charity
NOTnNGHAM DIOCESAN SICK AND RETIRED PRIESTS FUND ISRPFI ANNUALACCOUNTS FOR THEYEAR ENDED 31ST MARCH 2023 TATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2023 2023 22 CASH FLOWS FROM OPERATING ACtIVlTIES 11301 18,7821 Net cash provided by / (used Inl operating actlvlties Cash flows from investing actNlties: Oividend Income proedS fmm sale of investments Purchase of investments 178 8,760 12671 Net Cash provided by lused inl investing activitses 8,671 Change in cash and cash equlvants in the reporting period Cash and cash equivalents brought f¢yward {1301 Iiiii 130 241 Cash and cash equivalents carried forward 130 Recondllatlon ol nÈt Ini(xnellexpen&rtuYe) to net ¢ash Ilows from operatlngacti¥ities Net Income I lexpenditurel Gains on investments Dividends Ilncreasel in debtors Increase in creditors 11521 18,165} 14421 11781 26 141 Net cash prowded by / (used inl operatin8 activities (1301 18,7821
NOTfiNGHAM DIOCESAN SRPF TES & ACCOUNTING POLICIES FOR THE YEAR E DEO 31ST MARCH 2023 I. ACCOUNTING POLICIES The charity 15 a chariiable trust governed by its trust deed. The principal activtty is that of provide lief to needy sKk ènd needy retired person5 who are or who have been priests of the Diocese of Nottingham. The address of the prinupal olfice is Diocese of Nottingham, I Castle Quay, Castle Boulevard. Nottingham, NG7 IFW. The preparation of the charitrfs financial statements require5 management to make judgments, estimates and assumptions that afft the reported amounts of income, expenses, assets and liabilities. and the disclosure of contingent liabilrties. at the reporting date. However, uncertainty aboLtrt these assumptions and estimates could result in material adju5tnntS to the cariylng arnount of the asset or liability. The principal accounting policies are summartsed below. The accounting policies have been applied consistently ihroughout the yearand the preceeding years excèpt where stated. Basis of Accountin The aOunt5 have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their account5 111 accordance with the Financial Reporting Standard applioble in the UK artd Republic of Ireland IFRS 1021 leffectSve l January 20151- ICharits SORP IFIiS 10211, notwfchstanding that the current Charitie5 IA¢counts and Reports) Regulation$ 2[ refer to the previous Charities SORP. As ihere are no material uncertainties about the charit¢s ability to continue the accounts have been prepared on a going Concern bast5. The rèporting is in pounds sterling. The charity meets the definition of a public benefrt entity under FRS 102. Assets and liabilities are Initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notesl5}. Funds All of the f(Ends of the charty are unrestricted in the hands of its trustees. Incomin resources Incoming resources are included In the SLitement of Financial Activsties on the basls of the amouni's receivable for the year. Legacies are included when there is sufficient probability of receipt as at the end of the year. Investment income is induded when It is recei¥e(l. Gift Ald rèfunds are included for the year to which they relète. Resources ex ended Resources expended are recognised in the Statement of Financial Activit$ when a legal or constructive obligatlon has arisen. Irretoverable VAT 15 included in the related expendlture. Taxation A5 a reglstered ¢harity, the charity b generally exempt fwom taXatn on its income and gains arising out of its charitable activities. Investments In¥e5tment5 held as fixed assets are revalued at mid-market value at the balance sheet date. Gains and losses on investments are reported In the Statement of Flnancial Affair&
NOThNGHAM DIOCESAN SRPF NOTES & ACCOUNTING POLICIES FOR TH YEAR ENDED 31ST MARCH 2023 Debiors Oebiors represent amounts whlch ihe charity expects to ceIve at the balance sheet date less any reduction for amounts which are or may be unreceviable. These also include the unexpired amount of expenditu incurred before that dale. Creditors Creditors represent arnounts whith the charity expects to pay atthe balance sheet date. It includeds any amount set aside to provide for expenditure where there a reasonable expertation that it may become payable. Activities As there is only one principal activltyfvrther analysis of It or of 5UPPOrtin8 Costs is not provided. 70
NOTnNGHAM DIOCESAN SRPF NOTES & ACCOUNTING POUCIES FOR THE YEAR ENDED 31ST MARCH 2023 2. AUDITORS REMUNERATIOM 2022 £OOOs Fees payable for the audit of the financial statements 3.IN Ll ted Investments Tc*al Carfwng value at 1st April 2022 ditions at cY)st Amounts twn Net d15PLwI w(teeds Management Charges Dmdend Income Transfers Revaluab Realised net gauW(losses) Unrealis&l net gainslllosses) Carrying value at 31st Marth 2023 8.051 267 (215) (8,545) 21 421 4. DEBTORS Other Debtors Glft Aid 13 13 26 5. CREDITORS DUE WITHIN I YEAR Audit AccrLJal
NorriNGHAM DIOCESAN SRPF COUNTING POLICIES FOR ThE YEAR ENDED T MARCH 2023 MOVEMENT5 IN OPENING FUNDS 2023 022 Balance at 1st A1 2022 Ixwht fowward SUrU$l (Deficit) forthe year 152 11521 8.318 18.16SI Balance at 31st March 2022 152 7. RELATED PARTY TRANSAcnoNS In50faras the trustee 1$awa. there aTe matters reqIred to be rtF(rted otherthan already sh¢)wn in these accounts wtthin the Trustee Ret in the t)ft headed"Related PartyTrarfjaclkn'. 12