## **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: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departure disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that this basis applies. - 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: - examine the accounts under section 145 of the Charities Act, - to follow procedures laid down under the general Directions given by the Charity Commission (under section 145 (5) (b) of the Charities Act); and - 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: - to keep accounting records in accordance with section 130 of the Charities Act; - 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_| Page 8 ## **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| . Page 9