ROMAI¥ CATHOLIC BISHOPRIC OF THE FORCLS (GB) A CHARrrABLE INCORPORATED ORGANISATION FINANCIAL ATEMEwTS FOR THE YEAR ENDED 31 MARCH 21124 rity Number W1243
ROMAN CATHOLIC BISHOPRIC OF THE FORCES (GB) INDEX TO THE FIIYANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Members of the board and Professi] adviseTs Tru5tees' annual rep)rt Pages 2 to 4 Independent examinerg report Statement of financial activities Page 6 Balance sheet Pag¢ 7 Not¢s to the financial statements Pases 8t0 14
ROMAN CATHOLIC BISHOPRIC OFTHE FORCES (GB) Page I MEMBERS OF THE BOARD AND PROFFSSIONAL ADVISERS The Board of Trustees Colonel M A Cadman Father D A Cotwoy Father l J Stcv¢nson Commander l M Crabtree Rt Rev Bishop P May)n Rev D Skillen Wing Commander C P Th0e Principal Address St. Omer Barrncks Thornhill Ro)d Alder5hot HaMhlIe GUII 2BG Independent Examiner MaTk Dickinson FCA Shaw Gibbs {Audit) Limited Wry Court West Union Ro Farnham Surrry GU9 7PT Bankers Royal Bank of Scotland Holts Farnborough B1Ch 200 Fowler AverAue Farnborough Business Pat* FarnE#)rough Hampshire GU147JP Investment Managers B1kRock Investment Management (UK) Limited PO Box 9036 Chelmsford CM99 2XD
ROMAN CATHOLIC BISHOPRIC OF THE FORCES (GB) TRusfEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trnstees have the pleasure in ptsenting their r¢wt and the finwKial ststements of Ihe charity for the year ended 31 March 2024. Leg41 Ststus The charity is constituted as a charitable inconmted organisation (Clok registered with the Charity Commission under number 801243. The ch•rity converted from a trust to a CIO on 13 December 2018. Objeets of the charlty The charity's object and principal activity Ll)ntinues to be to advance and Promote the Roman Catholit Religion and in particular to promote and provide such charitable works as advance the Roman Caiholic religion among or in connection with members of His Majesty's Forces and their families including the maintenance and support of the p¢tson for the time besng holding the Office or AppJin¢ment of Roman Catholi¢ Bislw of the Forces and to provide for and maintsin a hous¢ for 5u¢h person and offices for his use and any staff re$wKlblc to him. The Bishop's residence is 0ed by the Vicarialc HcJquart¢ts TruK a regiered charity. to which rent is paid by thi5 charity. Trustees Appointments ttd New Trnstee Proeeedl The eXfficI0 trustees are appointed by virtue of their respecti Offi$. Nominatrd tru5t¢¢5 ar¢ appointed by a resolution of the trustees passed at a properly Conve1 rnceting of the tharity trttee$. The Chair of trustees contacts new ex-offi¢io trustees and potential new nominated truste prior to attendance at their first trustees meeting. to *ll them aiMWt the background and activities of the ¢harity. New trustees are provided with a Copy of the c%)nstitution and the latest financial sthtements of the charity. Conneeted Charlties The folhwing Charities are u)nncctd to th¢ Roman CatTrK>lic Bishopric of the Fortts {GB). Vicariate Headquarters Tntst 26 The CTesceni Farnborough Hampshire GU14 7AS Royal Air Fo¢ Roman Catholic chUh PurI)Se5 Fund Chaplaincy Servic¢5 The Medical Centre RAF Northolt West End Ro&1 Ruislip Middlesex HA4 6NG Royal Navy (Roman Catholic) Trust Royal Navy CadM)lic Chaplaincy The Chaplaincy HMS CollingW(l Newgate Lane Fareham Hamh]re P014 IAS The Arniy Roman Catholic Trust St Michael and St G¢org¢ Parish Office Alder5hot Hampshiwe GU I12BY
ROMAN CATHOLIC BISHOPRIC OF THE FORCES (GB) Page 3 TRuEES. ANNUAL REPORT FOR TH£ YEAR ENDED 31 MARCH 2024 Reserves The number of Servic¢ Personnel continues to diminish with a consequent reduction in Inrne from offerings. nttes5itating a continuous and prndent managemenl of resources. A Close relationship is maintsined with the charity's Investh)ent Advisors who pursue a policy of choice of appropriate funds to maximise th¢ return on investments over time. Review ofactivitles The CIO ¢ontinues to support the work of the BISIpriC of the Forces in delivering pastoral w¢ and sacramental provision to th¢ Military Community. Bishop Paul attended the HCPT and the International Military Pilgrinwg¢ {IMP} to iwrd the A&t018t Militair¢ Int¢rnationa] (AMI) Conferejv in Belgium, the International Conference for Military Bishops in Vienna and joined a group of young military personnel for World Youth Day in Portugal. A very 5U¢C¢Ssful CPD for all RC rhaplains was held in the Scots College Salamanca Spain. The annual events i.¢. R¢mernbrdnce Sunday at the Cenotapl the Campion Dinner at the RMA SandhursL the RAF Mass at St Clement Dane& the RN Mass in Portsmouth Cathedral together with the Chrism Ma55 in Alders1 Cathedral wntinue. Bishop Paul continues to travcl throughoui the UK visiting hi5 chaplains at their place of wolk. Th¢ directives from the Bishops. Conference for Slla Maris, the Nationgj Catholic Safeguarding Commission and Healthcare within the Social Justice departs are ongoin& and he also attended the biannual Bishops. Confer¢n5 of England and Wales. Flnancial Review The results of the clwity for the year are as detsiled in the statemenl of Financial Activilie5 on page 6. The charity's investments are managed by BlatkRock Investhient Manwent (UK) Limited and have been invested in the Arn)ed Forces Charities Gwth and Income Fund. Investment income has incr¢ascd 0r the previous period and thc maTkct value of inves¢ments decre. Gener41 The financial statements have been prepared in aCrdance with the StateMt of Rec0nmded Practice: Accounting and RArtIng by Charities preparing their accounts in COrdanCe with the Financial Reporting Standard applicable in the UK And Republi¢ of Ireland (FRS 102) and the Charities Act2011. Funds The funds held are unrestrided and are held to ftwther the objects of the charity. These funds are available and are adequate to lfil the obligations of the charity. Designated fijnds include a legacy previously received from the estas of Bishop Frnnk walms1. Further designated funds relate to donations received from the Roman Catholic community at DA Shrivenham. and Charities Trust donations received.
ROIIAY CATHOLIC BISHOPRIC OF THE FORCES (GB) Page 4 TRtiSTEES' .4NNU.4L REPORT FOR THE I'EAR EN'DED 3111..IRCH 2024 Going Concern Statement The trustees consider that there are no material uncertainties aFM)ut the charity's ability to continue as a going concern. Public Benefit The Bishopric CIO charity aiTns to provide the ven, best operalion, spirttual and pastoral support, pritnarily lor Catholic Service men and ivomen and iheir families and Chaplains, wherever. whenever and in whatever forni it is needed. Additionally to respond to the needs of anN'oT]e. any creed or none, who iums to a Caiholic Chaplain for suppon. The Trustees The trustees who served the charity during the period are as listed on page l. Trustees, Responsibilities The trustees are responsible for preparing the Trustees. Report and the financial sthiements in accordance with applicable law and Unitcd Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prdctice). The law applicable to chariiies in Enland and Wales requires the trusiees io ppare financial Statements for each financial year ivhich give a in* and fair view of the charity s financial activities during the v¢ar and of its financial position al thc end of the )'ear. In preparing finan¢ial statements giN'ing a true and fair Yieiv, Ihe trusiees should follow best practice and: Selcci suitable accouniing Frf)licies and appl). them ¢onsisienily: Obser¥'e the methods and principles in the Charities SORP- Make judgctnents and esLimaies ihai are reasonable and prudeni: State wheiher applicable accounting Siandards have been followed. subject to any material departures disclosed and explained in the financial Statements. and Prepare the financial statements on the Eoing concern basis unless it is inappropriate to presume that the Charity will continue in operation. The trustees are responsible for keeping su1Clent accounting COrdS which disclose wilh reasonable accurncy ai any time the financial position of the charity and enable them to ensure thai ihe financial statements compl>. with the Charities Act ?0 I I, the Charity (Accounts and Reports) Regulations and the provisions of the charity s constitution. The irustees are responsible for safcguardinLT the asseEs of the charity and hence for tak'ing reasonable steps for the prevenlion and deieciion of frnud and other irrcgulariiies. Signed on bchvllf of ihe irustees Ri Rev Bishop Paul Mason Trustee Approved by the trustees on: 04-lJ7 l/aDlf
ROIIAi%i CATHOLIC BISHOPRIC OF TIIE FORCES (GB) Page 5 REPORT OF THE I1N'DEPEDEII 'T EI4%11%'ER'S REPORT I report to the charity trustees on my examination ofihe finoncial statements for the year ended J l Nqarch ?0?4. The accounts have been prepared in a¢¢ordance i%'iih Accounting and Reporting b) Chariiies preparino their accounis in accordance ii'ith ihe Financial Reporting Stsndards applicable in the and Republic of Ireland {FRS I O?) in prcfcrence to ihe A¢couniino and Reponing by Charities = Statement of Recommended Practice on l April ?005 which is rcferred to in the exiani re¥ulaiions but has bccn withdrawn. Respective responsibilities of trustees and independent exaffliner The chclrity's trustees ar¢ responsible for Lhe prepardiion of the accounts. The charity's trustees consider thai an audit is noi reqUId for ihis ear (under seciion 144(?) of the Charities A¢1 ?0 I I (the ?0 I l Aci) and ihai an independeni examination is needed. It is my responsibilily to examine the accounts under seciion 145 of ihe ?01 l Act: to follow the procedures laid doii'n in ihe Generdl Directions gii'en b), the Charit), CoTnmission under section 1451Sllb) of ihe ?0 I l Aci. and to stale i¥heiher panicular mailers have come io my aiien(ion. Basis of independent examiner's statement e.Namination i%'as carried out in accordance with the General Directions given bv the Charity Commissioners. An e.xaminaiion includes a revieil of ihe accounting record5 kept by the charity and a comparison of the accounts presented with those records. It also includes consideraiion of any unusual iiems or disclosures in ihe accounts. and seekino explanations from you as trustees concemin£ an!. such mailers. The Procedures undertaken do not provid¢ all the ¢i'id¢nc¢ ihat ivould be required in an audit and. consequently no opinion is given as lo whether the accounis present a'true and fair vieiv. and the report is limited io those matters Set out in the statement below. Independent Examiner's Statement In the course of m). eiamination. no matter h&s come io my atteniion: which gives me reasonable cause to believe that, in any material respect. the quir¢meni: to keep proper accounting records in accordance H'iih S¢¢iion l)0 of ihe ?01 l Aci: and to prepare accounts which accord Iiiih the ac¢ounlin records and io ¢oTnply wilh the accounting requiremenis of ihe ?0 I l Act hav¢ not bcen met- or 2. to which. in m). opinion. aiieniion should be drailm in order lo cnablc a proper understanding of the accounts io be reached. Mark Dickinson FCA Shaw Gibbs (Audit) Limited Wey Court West Union Road Famham Surrey GU9 7vr Dated . £è la7 14014
ROMAN CATHOLIC BISHOPRIC OF THE FORCLS (GB) ATEmE1 OF FINANCIAL A1VITIEs FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Total Funds Notes INCOME AND ENDOWMENIS Donations received Investment inwmc and bank interest Other 189.646 28J29 158,700 25.670 TOTAL INCOME 217975 184?70 EXPEiYDITURE Chgrltsble Ac¢ivities Salaries olrice Residence Donations and grts payable 122J37 49,929 35,704 16284 13.486 47,841 19.822 8,406 224A54 I8955 TOTAL EXPENDITURE 224rt54 189A55 NET INCOMEIEXPENDITURE AND NET MOvEmEr IN FUNDS BEFORE GAINS AND LOSSES ON INvMENTS (6879) IS185) UnreaIised Gainl(Los5) on Invesknents 11,953 (77,856) NET MOVEMENT IN FUNDS &473 (83,042) RECONCILIATION OF FUNDS FUNDS AT I APRIL 2023 71&712 801.753 FUNDS AT 31 MARCH 2024 n4,185 71&712 The statement of financial aaivities includes all gains and losses recwised in the y¢ar. All incoming resources and resources expended derive from conlinuing artiviti¢s.
ROIll.41% CATHOLIC BISHOPRIC OF THE FORCES (GB) Page 7 B.4Ltlh'CE SHEET FOR THE I'EAR EINDED 311I1.4RCH 2024 2024 2023 FIXED ASSETS Tangible assets Invesimenis 486 664,1 J4 596 65? 18? 664,620 652,777 CURRENT ASSETS C at bank 71.194 7?.663 71.194 72.663 CREDITORS: Amount5 f#lling due within one year io (7.81 ?) {6.7?8) (7.812) (6.728) NET CURREN'T ASSETS 63J83 NET ASSETS 728.003 718,712 REPRESENTED BY: FUNDS Unreslri¢ied.. Designated Generdl 51.610 676.393 37,566 681,146 TOTAL FUYDS 11112 728,003 718,712 o+Ic)1 1202 1 These financial statements were approved by the trustees on and are signed on their behalf by . Rt Rev Bishop Paul Mason Trustee
ROMAN CAThOLIC BISHOPRIC OF THE FORCES (GB) Page 8 NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 l. Accounthbg Polleles Bask of ceollnting The accounts hav¢ b¢¢n prepared under the histtyrical wst (x)Dvention with items recogni5ed at cost or transaction value unless otherwise ststed in the relevant e$ to a¢unts. The financial statements have been prepared in accordance with the Statement of RecommWed Prnctice: Accounting and Reporting by Charities preparing their unts in aOrdae with the Financial Rep)rting Standard applicable in the UK and Republic of Ireland (FRS 102) and th¢ Charities Arf 2011. The accounts have been PTep8Ted to give a Irue and fairf view and have departed from the Charities {Accounts and Reports) Regulations only to the exlent required to provide a Inje and fairf view. This departure has involved fol]owin8 the Charities SORP (FRS 102) published on 16 July 2014 rather than the Aeeounting and RepIng by Charities: Statertt of Re&xmmended Prnrtice effective from l April 2005 which has since been withdrawn. The charity c4)nstitutes a public benefft entity as (kfined by FRS 102. Intoming Resources Donations, collections and bank interest are %countd for on a receivablc basis. Investments Investments are mana8ed under di%rrfionary agreements by Biackrock Investment Management {UK) Limited. Investments are accounted for by r¢frycn¢e w the bargain date slWn by the contract note issued in respect of their purchase or disFM)sal. Investrnents are a forn) of basic financial instrument and are initially recorded at their transaction value and subsequently measured at their fair value as * the balance sheei dt using the bid price. The statement of financial activiti¢5 includes the net gains and losses arising on revaluations and disposals throughout the year. The charity does not acquire put options derivatives or other LM)mplex financial lnsthents. Fixed Assets Depreciation is provided on fixed assets * the following ann rntes in order kn wri* off each asset over its estinled useful life: Office equipment and hOuh0]d effects compu cquipment on Teducin8 balance - 25% on reducing bance Funds Unrestrided r¢v¢nu¢ reserves represent those resources which may be used towanls meeling the objects of the charity. Unrestricted capital reserrfes reprel investment gains and1055¢5. Designated funds comprise unrestricted funds thal hav¢ b¢¢n set aside by the Trustees for particularpurposcs.
ROMAN CATHOLIC BISHOPRIC OF THE FORCES (GB) Page 9 NOTES TO THE FINANCIAL STATEMENfS FOR THE YEAR ENDED 31 MARCH 2024 Aecouoting Polici Investment income Income aTiSiDg from investsnents is included by reference to the normal date of payment of dividends or interest on that investment. Provision is t rn•de in the accounts for dividends to be ffceived in the ncxt accounting period on investments declared ex-dividend priorto 31st March 2024. Taxation As a qualifying charity. the charity is not liable to UK tsxatw)n. Resources Expended Charitable activities costs include grants made and governance costs as shown in not¢5 4 and 5. Cr¢ditors Short Icrm ¢reditOts aJE measured at the transaction date. Illme . Charithble adivitie5 2024 2023 tknnations - UnTestrict¢d Funds Royal Navy Amy Royal Air Force 16,968 76J56 76J56 15.870 71,415 71,415 169ffj80 15&7(10 St Albans Plate Income Cathedrat Fund (Shriv¢nham Fund) 19,966 3.818 19.966 Total 189fj46 158,700 Inv&tm¢nt Intome 2024 1023 UK investment dividcnds Bank interest receivable 25.692 1637 24,790 880 28J29 2&670
ROMAN CATHOLIC BISHOPIUC OF THE FORCES (GB) Page 10 NOTES TO THE FINANCIAL ATEmENTs FOR THE YEAR ENDED 31 MARCH 2024 Expenditure . Salaries 2024 2023 Bishop's remuneration & pension Staff remunerdtion & pension Vicar General aecommodati 41323 59.637 20577 39.426 53.656 20,404 121537 113886 Expenditure . Office nrestricted: Bishop's Y¢ar Book (net of donthns) Websiie + media Tweeting with God Resourtts Bishopric Shields Meetings A$t018t Militaire International (AMI) Printing & Ststionery Postage Repairs & Renewals Travel World Youth Day IMP Costs Removal and Storag¢- BishoNic Archive Chrism Mass Lunch Sundries including 5ubscrxptions Insurdnces Accountan¢y 8nd Independe4rt Examination Fees Bookkeeping and Payroll Depreciation Compuier EqUipMt Loss on Disp)sal of Computer Equipm¢nt Bank Charges 1.147 1349 lJ68 1.447 8,502 5J61 8J84 631 316 178 11.428 2250 6.158 i.IX)3 359 75 8.208 3.502 1,630 419 1.232 3.863 1917 964 3.768 70 49,929 41.417 Tweeting with God Resources (Colonel Angeta Curran Legw) 6.424 6,424 Total 49,929 47841
ROMAN CATHOLIC BISHOPRIC OF THE FORCES (GB) Pagell NOTES TO THE FINANCIAL ATEmENTs FOR THE YEAR ENDED 31 MARCH 2024 Exp¢nditsre . Residence Renl Council Tax & W InsuTance HeaL Light & Power RcpaiT5 & Renewals Removal and Sknrage- During Refurbishment Tel¢phone Sundries D¢pr¢riatioD Fixtures & Fittin8S 25.425 2.695 1,039 4.141 1,756 5.000 2,694 1,427 3,115 7.198 185 159 44 434 159 54 35,704 19,822 Expendilure: Donxtitins and grnnts payabk 2024 2023 Unrestricted: CBCEW CNET (S) & other 5,OlXI lJ45 5,000 1,590 6J90 Desi Blaekfriars - Mass and POrnI sUprt at St Albans {Shrivenham Fund) 9.739 1,816 9,739 1816 Total 16284 &406 6. Staff Costs & TThstets' Rewunerxtion and Emoluments Apart from the Bishop who rcc¢ives rcmuneration and expenses in his role a5 an employee of the Bishopric, Trustees do not receive remunerntion or expenses. No employee carned £60.000 per annum or more (2023 - non¢).
ROMAN CATHOLIC BISHOPRIC OF THE FORCES (GB) Page 12 NOTES TO THE FINANCIAL ATEmEN15 FOR THE YEAR ENDED 31 MARCH 2024 Tangible Fixed Assets 0(re & House Computer Total or Valuati at l April 2023 Addition5 Disposals At 31 March 2024 8.068 10.655 145 18.723 145 (8.068) 10.800 {8.068) 10.800 iatio at l April 2023 Disposals Charge for the year At 31 Mah 2024 7.868 (7,868) 10260 18,127 (7.868) 54 10,314 54 10,314 Book Value At 31 March 2024 486 at l April 2023 200 395 596 Investments 2024 20 ted investments Arnied Forces Charities Growth and Inwme Fund 664.139 651182 2024 2023 ment in Mw*et Value Markd value at l April 2023 651182 730.038 Acquisitions 8t cost Disposals at open book va]ue Net gains (losses) On revaluations in the y 11.953 (77,856) MArket value at 31 Marth 2024 664.134 652,182 Anxlysls of current assets 2024 2023 Ch at bank & in hand 71,194 72.663 71.194 72,663
ROMAN CATHOLIC BISHOPIUC OF THE FORCFS (GB) Page 13 NOTES TO THE FINANCIAL sfATEMElYfS FOR THE YEAR ENDED 31 MARCH 2024 10. Analysis •ftrtdltors 2024 2023 Bishopric Charities A¢¢ruals Pension Liability P.A.Y.E. and N.1. Other creditors 1224 3,520 974 3,520 139 1.993 103 823 7.812 6.728 11. ADatysiy of net assets between fvnds Totsl Fund5 Totsl Funds 2024 2023 Fund balances at 31 March are Tewuented by: Fixed assets Investments N¢t Current Assets 596 652,182 65,935 664.134 63J83 728.003 718,712 Split of unrestricted funds Designated GeKral 51,610 676.393 728.003 37,566 681.146 718,712 12. Mov¢m¢nts in Funds- Current Ytxr Income l Expendlture I Opeuing Inve5ttDent Investmenl B*lanee Gaios Closing Balance UnTestri¢td Funds Revenue Resep4es Capithl Reserves 195,689 485.457 198,009 11.953 214,715 178.984 497,409 Designated Funds Colonel Angela Curran Bishop Frank Walmsley Leg Shrivenham Fund Cathedrnl Fund 34.379 3,187 34,379 13.413 3,818 19,966 3.818 9.739 718.712 233.745 224.454 728.003
ROMAN CATHOLIC BISHOPRIC OF THE FORCES (GB) Page 14 NOTES TO THE FINANCIAL ATEmENTs FOR THE YEAR ENDED 31 MARCH 2024 12. Continued Movements in Funds- Previous Yur Income l Expenditure I Opening livestment Investment Balante Gain5 aillE Balance Unrestricted Funds Revenue Reserves Capitsl Reserves 192.634 563,313 184.370 (77,856) 181315 195,689 485.457 Designaied Funds Colonel Angela Curran t£g Bishop Frank Walmsley Legacy Shriv¢nham Fund 6.424 34J79 5.IKI3 6,424 34379 3.187 1.816 801.753 106.514 189.555 718.712 The designated funds for Colonel Ang¢la Curran represents a legxy was fully cxpcndcd in the previous year. the Bishop Frnik Walmsley represMts a legacy received but not yet fully ex}1. The Shrivenham Fund Ttprcsents church collections received from Shrivcnham not fvlly expended. The Cathedral Fund represents Charities Trust payroll donation5. to be spent on the Cathedrnl. Trustees have deSited thes¢ fimds tt> Show separately how they are bein8 used by the charity.