Charity Registration Number . 1006100 CHILDREN OF MEDJUGORJE TRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
CHILDREN OF MEDJUGORJE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Angela Callan Pamela Nelson Barry Authers David Wheeler Charity Number Registered Office 1006100 33 HILLVIEW ROAD Pinner HA5 4PB Independent Examiner David Warren Cocke, Vellacott & Hill Unit 15, City Business Centre London SE16 2XB
CHILDREN OF MEDJUGORJE TRUST CONTENTS Pages Trustees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 9-14
CHILDREN OF MEDIUGORJE TRUST TRUSTEES, REPORT for the year ended 31 October 2024 The trustees present their annual report and financial statements for the year ended 31 October 2024. REPORT OF THE TRUSTEES The Trustees presenttheir annual reporttogetherwith the financial statements of Children of Medjugorje Trust (the charity) forthe year ended 31 October 2024. The Trustees confirm that the Annual Report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document and the provisions of the Charities Statement of Recommended Practice (FRS 1021. TRUSTEES Thetrustees who served the Charity duringthe year and since the year end were asfollows: David Wheeler (Chair) Barry Authers Angela Callan Pamela Nelson OBJECTIVES AND ACTIVITIES The Charity's purpose set out in the Trust deed dated l October 1991 as amended on 25 July 2025 is to spread the Christian religion by dissemination of the messages given at Medjugorje and promoting examination of the messages. While pursuing the objectives of the Charity, the Trustees have given careful consideration to the Charity Commission's guidance on public benefit. ACHIEVEMENT AND PERFORMANCE The Charity has grown and has in excess of 300 members. The circulation of the newsletters/magazines, which include Our Lady's monthly messages to the visionary Maria, and messages given to visionary Mirjana, together with reflections and testimonies, continues to grow. The newsletter is spread far and wide and is currently at issue 191 . Also, the Factsheet drafted by the charity explaining what is happening in Medjugorje has been revised and updated. Several thousand copies have been distributed in the UK and abroad in furtherance of dissemination of the messages. Priests are being encouraged to go on pilgrimage to Medjugorje and the charity will continue to assist them in this regard.
CHILDREN OF MEDJUGORJE TRUST TRUSTEES, REPORT (Continued) for the year ended 31 October 2024 FINANCIAL REVIEW In the year ended 31 October 2024, the Trust was fortunate to receive a legacy of £120,000. Other donations including subscription were £4,609 (2023: 4,326), income derived from charitable activities was £1,168 12023: £1,274) and bank interest received was £1,578 (2023: £5). Charitable activities, expenditure was £11,002 {2023: £6,367) and other expenditure was £120 (2023: £ 1,444). The surplus for the year was £116,233 (2023: deficit of £2,206). As at 31 October 2024 the Charity held unrestricted reserves of £128,131 (2023: £11,898). STRUCTURE, GOVERNANCE AND MANAGEMENT The Charity is a charitable trust. It operates under the rules of its Trust Deed dated I October 1991 as amended on 11 July 2025. The Trustees are appointed in accordance with the Trust Deed. New Trustees joining the Board are given an appropriate briefing on their obligations under charity law and on the contents of the Trust Deed. They are also referred to guidance issued by the Charity Commission on the role of the Charity Trustee. The main risk to the Charity is a failure to generate sufficient income from sales to finance its operations as well as provide funding for any charitable projects that the charity might Wish to undertake. The trustees are satisfied that the major risks have been mitigated as far as reasonably possible, but the Board recognises that it must keep these risk5 under constant review. The controls in place include regular updates to trustees on our financial position, the preparation of formal agendas for Board meetings which highlight areas of concern and formal approval procedures for financial and strategic decisions. PLANS FOR FUTURE PERIODS The Charity will continue to issue 6 newsletters per annum and print and circulate the Factsheet. The charity will continue to encourage and assist pilgrimages for priest and laity and offer assistance for those who feel called to go to Medjugorje but do not have the means to do so. This is a positive way to disseminate the messages for the furtherance of examination and the Christian faith. The charity will consider assisting charities whose objects accord with the objects of Children of Medjugorje. RESERVES POLICY The trustees aim to generate sufficient income from donations and sales of literature to cover operating expenses and to run at breakeven. Prior to receipt of the legacy the trustees aimed to have 12 months, operational expenses in available reserves. The trustees
CHtLDREN OF MEDJUGORJE TRUST TRUSTEES, REPORT (Continued) for the year ended 31 October 2024 intend to invest the legacy such that it contributes to revenue necessary to cover future operational expenses. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Prattice. Charity law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity's financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees are required to: -select suitable accounting policies and then apply tbem consistently, -make judgements and estilltes that are re&sonable and prudent. and -state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; and -prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which are sufficient to show and explain the charity's transactions and to disc105e with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the provision of the Trust deed and the Charities SORP (FR5 102). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the Board of Trustees on 20 August 2025 and signed on its behalf by: David Wheeler Trustee Date: 20 August 2025
CHILDREN OF MEDJUGORJE TRUST INDEPENDENT EXAMINER'S REPORT forthe year ended 31 October 2024 Independent Examinerfs Report to the Trustees of Children of Medjugorje Trust I report to the Charity Trustees on my examination of the accounts of the charity for the year ended 31 October 2024 which consists of the statement of financial activities, balance sheet and the related notes Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,) I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515){b) of the Act. Independent Examiner's Statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination {other than that disclosed below I which gives me cause to believe that in any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting records; or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Report51 Regulations 2008 otherthan any requirement thatthe accounts give a'true and fair, view which is not a matter considered as part of an independent examination. I have no concern5 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. Name: David Warren Date: 20 August 2025
CHILDREN OF MEDJUGORJE TRUST STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 October 2024 Recommended categories by activity Unrestricted funds Total Funds 2024 Total Funds 2023 Notes Income and endowments from: Donations and legacies 124,609 124,609 4,326 Charitable activities 1,168 1,168 1,274 Investments 1,578 1,578 Total 127,355 127,355 5,605 Expenditure on: Charitable activities 11,002 11,002 6,367 Other 120 120 1,444 Total 11,122 11,122 7,811 Net income/(expenditure} 116.233 116,233 {2,206} Net movement in funds 116,233 116,233 (2,206) Reconciliation of funds: Total funds brought forward 11,898 11,898 14, 104 Total funds carried forward 128,131 128,131 11,898
CIULDREN OF MEDJUGORJE TRUST BALANCE SHEET for the year ended 31 October 2024 Notes Total Funds 2024 Total Funds 2023 Current assets Stocks 1,278 917 Debtors 1,867 980 Cash at bank and in hand 127,040 11,453 Total current asset5 130,185 13,350 Creditors: amounts falling due within one year 10 2,054 1,452 Net current assets/(liabilities) 128,131 11,898 Total net assets or liabilities 128.131 11,898 Funds of the charity Unrestricted funds 11 128,131 11,898 Restrirted income funds 11 Endowment funds 11 Total funds 128,131 11.898 The financial statements were approved by the trustees on 20 August 2025 and signed on its behalf b David W Trustee Date ." 20 August 2025 eeler
CHILDREN OF MEDJUGORJE TRUST NOTES TO THE FINANCIAL STATEMENTS forthe year ended 31 October 2024 l. Accounting Policies The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows. 1.1 Basis of preparation These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation. These accounts have been prepared in accordance with "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 IFRS 102)" (effective l January 2019}- (Charities SORP IFRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. These accounts are presented in pounds sterling and rounded to the nearest pound. 1.2 Going concern The Trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thu5, they continue to adopt the going concern basis of accounting in preparingthe accounts. 1.3 Income f rom donations or grants Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable, and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal offer is made in writing. If a donation or grant contains terms and conditions outside of the charity's control which must be met before the charity 15 entitled to the funds, or if the donor specifies that the funds must be used in future time periods, then the income is deferred. 1.4 Legacies Legacies are included in the SOFA when receipt is probable, that is, when there ha5 been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.
CHILDREN OF MEDJUGORJE TRUST NOTES TO THE FINANCIAL STATEMENTS (Continued) for the year ended 31 October 2024 1.5 Income from charitable activities Income from charitable activities is recognised over the period to which the income relates. Concert fees are recognised at the date of the event. Membership fees are recognised overthe period of the membership. Any amounts relating to future periods are deferred. 1.6 Income from membership subscriptions Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. Membership subscriptions which give a member the right to buy services or other benefits are recognised as income earned from the provision of good5 and services as income from charitable activities. 1.7 Expenditure Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably. It is inclusive of VAT which cannot be recovered. Direct costs are those costs which directly attribute to its activities. Wages and salaries are allocated to direct costs based on an estimate of time spent on charitable activities by staff members. Support costs include staff costs and are those which do not produce a direct output. Staff costs relate to specific activities, and th is is reflected i n the allocation of payroll costs based on the percentage of time spent. All costs, including 8overnance costs, are allocated between the expenditure categories of the charity on a basis designed to reflect the use of the resources. Costs relating to a particular activity are charged directly,- others are apportioned on an appropriate bas15. Support cost5 and overheads have been calculated by allocating staff time to the level of involvement in the variou5 activities of the Charity. 1.8 Fund accounting Unrestricted funds are those funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors, or which have been raised by the charity for particular purposes. 10
CHILDREN OF MEDJUGORJE TRUST NOTES TO THE FINANCIAL STATEMENTS (Continued) for the year ended 31 October 2024 1.9 Stocks and work in progress Stocks held for sale as part of non-charitable trade are measured at the lower cost or net realisable value. Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock. 1.10 Debtors Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. 2. Income from Donations and Legacies Analysis Unrestricted funds Total funds 2024 Total funds 2023 Donations and gifts Legacies Membership subscriptions and sponsorships which are in substance donations 2,698 2,698 1,920 120,000 120,000 1,911 1,911 2,406 124,609 124,609 4,326 3. Income from Charitable Activities Analysis Unrestricted funds Total funds 2024 Total funds 2023 Sale of Promotional Materials Sales of Literature 134 134 176 1,034 1,034 1,098 1,168 1,168 1,274 11
CHILDREN OF MEDJUGORJE TRUST NOTES TO THE FINANCIAL STATEMENTS (Continued) for the year ended 31 October 2024 4. Income from Investments Analysis Unrestricted funds Total funds 2024 Total funds 2023 Interest income 1,578 1,578 1.578 1.578 5. Expenditure on Charitable Activities Total funds 2024 Total funds 2023 Analysis Donations 3,511 195 Printing and stationery Purchase- Literature Purchase- Videos/Tapes, Promotional Postage & Courier Printing and Publication Cost Support Costs 185 194 261 103 2,989 2,850 1,263 2,816 2,908 94 11,002 6,367 6. Support Costs Total funds 2024 Total funds 2023 Analysis Support Costs Accountants fees Telephone & Internet 1,200 63 94 1,263 94 7. Other Expenditure Unrestricted funds Analysis Total funds 2024 Total funds 2023 Sundry expenses 120 120 1,444 120 120 1,444 12
CHILDREN OF MEDJUGORJE TRUST NOTES TO THE FINANCIAL STATEMENTS (Continued) for the year ended 31 October 2024 8. Debtors: Amounts falling due within one year Total funds 2024 Total funds 2023 Prepayments & accrued income Sundry Debtors 1,523 344 689 291 1,867 980 9. Cash at bank and in hand Total funds 2024 Total funds 2023 Petty Cash CAF & BOS Saving Account Bank of Scotland 115 38 115,046 11,879 436 10,979 127,040 11,453 10. Creditors: Amounts falling due within one year Total funds 2024 Total funds 2023 Accruals and deferred income Sundry Creditors 1,200 854 1,452 2,054 1,452 11. Charity funds 11.1 Details of material funds held and movements during the current reporting period Fund balances brought forward Fund Gains and balances losses carried forward Transfers Fund names Income Expenditure Unrestricted funds 11,898 127,354 11,121 128,131 11,898 11,898 127,354 127,354 11,121 11,121 128.131 128.131 Total 13
CHILDREN OF MEDJUGORJE TRUST NOTES TO THE FINANCIAL STATEMENTS (Continued} for the year ended 31 October 2024 11.2 Details of material funds held and movements during the previous reporting period Fund balances brought forward Fund Gains and balances losses carried forward Fund names Income Expenditure Transfers Unrestricted funds 14,104 5,604 7,810 11,898 14,104 14,104 5,604 5,604 7,810 7,810 11,898 11,898 Total 14