MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
Registered number : 02741092
MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
DIRECTORS
The Revd Prebendary Dr Brian Leathard (Chairman) Canon Iain F. Paton (Secretary) Very Reverend Geoffrey Marshall Reverend Kevin Dunne Prebendary Rosemia Brown Mr Stuart Lynch Mr Roger Stoakley Mr Andrew Webster Mrs Joanna Spalding Mr Alistair McCabe
SECRETARY
Canon Iain F Paton
REGISTERED OFFICE
12 Wyatt Drive LONDON SW13 8AA
COMPANY NUMBER
02741092
REGISTERED CHARITY NUMBER
1020058
BANKERS
Santander Business Banking, Bootle, Merseyside, L30 4GB
REPORTING ACCOUNTANT
Michael Howell FIAB 83 Watchouse Road Galleywood Chelmsford Essex CM2 8LT
MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
CONTENTS
Pages 3 to 4 Directors' report 5 Accountant's report 6 Statement of financial activities 7 Balance sheet 8 to 9 Notes to the Accounts
MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE)
DIRECTORS' REPORT FOR THE YEAR ENDED 31 OCTOBER 2024
Directors
Directors who served during the year were as follows:
The Revd Prebendary Dr Brian Leathard - Chair Canon Iain F. Paton Very Reverend Geoffrey Marshall Reverend Kevin Dunne Prebendary Rosemia Brown Mr Stuart Lynch Mr Roger Stoakley Mr Andrew Webster Mrs Joanna Spalding Mr Alistair McCabe
The Directors present their annual report and financial statements of the charity for the year ended 31 October 2024.
Principal Activities
The objects of the Company are to advance religion by furthering education in the lands pilgrims visit and to relieve poverty, sickness and distress in these areas.
Review of the year
When I wrote as Chairman last year it would have been impossible to imagine the pain and loss which the continuation of the situation in Gaza, the West Bank and Israel and the knock-on effects in surrounding Holy Lands would bring. No review can summarise the human tragedy, but every review of charitable activity in the region should point to this overwhelming sense of loss and the extraordinary efforts of those who have sought to mitigate it by their unstinting efforts and engagement. It has therefore been a distinct privilege to serve the Trust as Chairman in such a year and I thank my trustee colleagues, our partners and supporters most profoundly for their participation, enthusiasm and application.
In 2024 the Trust was pleased to re-establish a hybrid model of meeting, with a Zoom and an in-person meeting. This enabled the continuation and deepening of a sense of collegiality on the Trust with conversations and ideas being discussed in a manner for which on-line meetings alone do not seem designed.
Once again the main thrust of our work was the strategically important core fundraising and support for our beneficiaries. The Trust is aware that we are, in some cases, the only external supporting agency and this has added to our conviction that we do well to focus grants and support on a small nominated group of beneficiaries. We take this opportunity to thank our supporters most profoundly for their unstinting care for those engaged in our projects in the Holy Lands and Nepal and our friends have benefitted from lively and informative newsletter feedback.
As all Trusts whose work is rooted in Israel and Palestine, the events of 7th October 2023 and the subsequent retaliation has dominated our thoughts and prayers. We were therefore overcome by the generosity of our supporters in response to the extra pressure placed upon the institutions with whom we work. Equally, we are humbled by the steadfastness of the staff in these agencies who worked under ever greater pressure to fulfil their duties. Our 2024 Christmas Appeal once again showed great generosity of spirit and resource in supporting our work amidst some of the most disadvantaged families.
Our prayers remain for a just and peaceful end to current hostilities and the continued progress of the ceasefire.
All Trustees join me in thanking the staff of McCabe Pilgrimages for their continued support for and commitment to the aims of the Trust, not least at a time of considerable change in their own activities.
Page 3
MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE)
DIRECTORS' REPORT FOR THE YEAR ENDED 31 OCTOBER 2024 (cont.)
Management and Administration of the charity
The Trustees place on record their enormous thanks to the staff and good offices of McCabe Pilgrimages for their unwavering support in what has been a hugely unpredictable year commercially. Without this administrative assistance, which the Trust receives free of charge, we should not have been in a position to assure our donors that all monies donated to the Trust are transferred to the beneficiaries in full, with no administrative deductions.
We further thank those who have continued to support the Trust in a variety of ways and we look forward to a re-commencement of our fundraising and advocacy activities.
Statement of directors’ responsibilities.
Directors are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure account of the charitable company for that period. In preparing those financial statements, the directors are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departure disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that this basis applies.
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The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the accounting regulations.
For the year ended 31 October 2024 the charity's gross income was between £90,000 and £500,000 and its balance sheet totals did not exceed £2.8 million. Therefore, the directors consider that the company is entitled to partial audit exemption. The Reporting Accountant's report on page 5 contains an audit exemption report as required by Charity Commission Practice Note 11- Audit of Charities in the United Kingdom.
General fund
The Statement of Financial activities for the year shows that on the unrestricted general fund, grants/expenditure exceeded income by for the year of £1,100.
Approved by the board of trustees on 17 March 2025 and signed on its behalf by
________ Secretary Canon Iain F Paton BD FCIS
Registered Office
12 Wyatt Drive, London SW13 8AA
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE)
I report on the accounts for the year ended 31 October 2024 set out on pages 6 to 9.
Respective responsibilities of trustees and reporting accountant
As described on page 4 the trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow procedures laid down under the general Directions given by the Charity Commission (under section 145 (5) (b) of the Charities Act); and
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to state whether particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. it also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations form you as trustees concerning any matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act;
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of the Charities Act have not been met: or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Michael Howell FIAB
83 Watchouse Road, Galleywood, Chelmsford, Essex CM2 8LT
17 March 2025
Page 5
MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2024
| Unrest | Rest | Total | Total | ||
|---|---|---|---|---|---|
| ricted | ricted | ||||
| **Note ** | Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | ||
| Income and Expenditure | |||||
| Incoming Resources | 169,607 | 21,146 | 190,753 | 196,270 | |
| Resources Expended | |||||
| Direct charitable expenditure | 1 | 170,702 | 8,784 | 183,169 | 183,169 |
| Management and administration of the | |||||
| charity | 4,643 | 4,643 | 8,419 | ||
| Total Resources Expended | 2 | 175,345 | 8,784 | 184,129 | 191,588 |
| Net (Outgoing)/Incoming Resources | |||||
| before Transfers | (5,738) | 12,362 | 6,624 | 4,682 | |
| Net (Outgoing)/Incoming Resources | |||||
| for the year | (5,738) | 12,362 | 6,624 | 4,682 | |
| Other Recognised Gains and Losses | |||||
| Gain on revaluation Charifund | 4,638 | 4,638 | 5,353 | ||
| Net Movement in Funds | (1,100) | 12,362 | 12,262 | 10,035 | |
| Fund Balances forward at 1 November | |||||
| 2023 | 50,566 | 24,199 | 74,765 | 64,730 | |
| Fund Balances forward at 31 October | |||||
| 2024 | 3 | 49,466 | 36,561 | 86,027 | 74,765 |
Page 6
COMPANY REGISTRATION NUMBER 02741092 MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AT 31 OCTOBER 2024
| Note 2024 £ £ FIXED ASSETS CURRENT ASSETS Investments - M & G Charifund 45,830 Cash at bank and in hand 41,907 87,737 CREDITORS: Amounts falling due within one year 1,710 NET CURRENT ASSETS 86,027 NET ASSETS 86,027 FUNDS Unrestricted 4 49,466 Restricted 4 36,561 86,027 |
2023 £ 56,192 19,713 |
|---|---|
| 75,905 1,140 |
|
| 74,765 | |
| 74,765 | |
| 50,566 24,199 |
|
| 74,765 | |
| - |
In approving these financial statements as directors of the company we hereby confirm the following:
For the year in question the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
1) The members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
Approved by the Board of Trustees on 17 March 2025 and signed on its behalf by:
Canon Iain F Paton Director/Secretary
Page 7
COMPANY REGISTRATION NUMBER 02741092 MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 OCTOBER 2024
1 DIRECT CHARITABLE EXPENDITURE
| Grants payable Jeel Scholarship fees paid |
Unrest Rest Total Total ricted ricted 2024 2023 £ £ £ £ 170,702 - 170,702 172,746 - 8,784 8,784 10,423 |
|---|---|
| 170,702 8,784 179,486 183,169 |
2 TOTAL RESOURCES EXPENDED
| Direct charitable expenditure Drect charitable expenditure - restricted Management and administration of the charity Staff costs: Other costs: Grants payable Grants payable -Jeel scholarship restr. Accountancy Stationery, Postage & packing Management expenses Just Giving charges Bank charges |
Staff Deprec Other Total Total Costs iation Costs 2024 2023 £ £ £ £ £ - - 170,702 170,702 172,746 8,784 8,784 10,423 - - 4,643 4,643 8,419 |
|---|---|
| - £ - 184,129 184,129 191,588 |
|
| 2024 2023 £ £ - - 170,702 172,746 8,784 10,423 570 570 386 2,999 6,014 274 504 800 945 184,129 191,588 |
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COMPANY REGISTRATION NUMBER 02741092 MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 OCTOBER 2024 (CONT.)
3 FUNDS
| FUNDS | |
|---|---|
| As at 1 November 2023 Surplus/(deficit) for year As at 31 October 2024 |
Unrest Rest ricted ricted Funds Fund Total £ £ £ 50,566 24,199 74,765 (1,100) 12,362 11,262 |
| 49,466 36,561 86,027 |
.
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