REDEMPTORIS MATER HOUSE OF FORMATION Registered Charity No. 1047443 Company No. 2965770
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ANNUAL REPORT AND ACCOUNTS For the year ended 31 August 2024
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REDEMPTORIS MATER HOUSE OF FORMATION Registered Charity No. 1047443 - Company No. 2965770
ANNUAL REPORT AND ACCOUNTS for the year ended 31 August 2024
| CONTENTS | Page |
|---|---|
| Annual Report | 1-5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| NotestotheAccounts | 9-10 |
REDEMPTORIS MATER HOUSE OF FORMATION Registered Charity No. 1047443 - Company No. 2965770
ANNUAL REPORT AND ACCOUNTS for the year ended 31 August 2024 (continued)
Reference and Administrative Details
Registered office
11 Harewood Avenue London NW1 6LD
Object
To promote religion in accordance with the Roman Catholic faith and in particular to form young men and adults to the presbyterate for the new evangelisation and for that purpose to establish a House of Formation
Company secretary
lan Maguire
Directors of the Company (=Members of Administrative Council)
Michael James Anderson Lorenzo Andreini Anthony Matthew Cook John David Hayward Robert Christopher Horsburgh John Francis Green Terence Fergal Martin Peter John Wallach
Chief Executive Officer (Rector)
Lorenzo Andreini
Bankers
Barclays Bank PLC
Reporting accountant
Daniele Lionetti 22 Avalon Road London W13 OBN
Solicitors
Carter Lemon Camerons 10 Aldersgate Street London EC1A 4HJ
Telephone
020 7723 9364
rmhf.Ind@gmail.com
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REDEMPTORIS MATER HOUSE OF FORMATION Registered Charity No. 1047443 - Company No. 2965770
ANNUAL REPORT AND ACCOUNTS for the year ended 31 August 2024 (continued)
Objectives and Activities
The main object of the charity is to promote religion in accordance with the Roman Catholic faith and in particular to form young men and adults to the presbyterate for the new evangelisation and for that purpose to establish a House of Formation.
Accordingly, the company is renting a property known as St. Edward’s Convent, located at 11 Harewood Avenue, London NW1 6LD. The building houses the registered office of the charity and a House of Formation where the seminarians and some members of staff are in residence. The House is run under the direct supervision and responsibility of the Rector. The seminarians in residence attend courses in English language, Philosophy and Theology in preparation for the priesthood. The House of Formation provides them with food and lodging, meets their expenses (studies, clothing, health care, travelling in London, UK and abroad, etc.) and offers thema training programme which includes studies, pastoral activities, spiritual and human formation. Seminarians training at Redemptoris Mater are introduced to the universal dimension of the Church mission. They prepare to serve not only in the Archdiocese of Westminster but also in the rest of the country and abroad. Along with receiving intellectual, spiritual, human and pastoral formation, they are helped to be actively involved in serving the people to whom they will be ministering after ordination. After a few years in formation the seminarians dedicate two or more years to itinerancy, a period of full-time missionary service anywhere in the world where their services are needed, as part of a small team made up of some lay missionaries - single men and women or married couples and a priest. The main activity carried out is adult catechesis, within a programme of human and Christian formation which includes assistance and support to families and young people.
The same activities are undertaken by the staff of the House of Formation and by the students residing in London: spiritual and human assistance to families, ministry in hospitals and assisting young people, both in schools and in parish-based groups and initiatives.
Redemptoris Mater also welcomes priests returning from their missionary posts or preparing to go on mission, offering them support, opportunity for quiet periods in a prayerful environment, access to information and material related to their missionary work.
Many activities of the House of Formation are carried out by volunteers, who work in various capacities. In the year 2023-24 a total of 14 volunteers contributed to the charity’s activities by working in the library, administration, cleaning, and cooking at the House of Formation. Their contribution in running the house is precious as it creates at Redemptoris Mater a friendly and homely atmosphere which does not pass unnoticed.
Achievements and Performance
In the year 2023-24 there were 12 seminarians training for the priesthood in the Redemptoris Mater House of Formation, from several countries in Europe and America. Seven of them have been residing full board in the House of Formation. One of them has spent the last year of Academic Formation at Allen Hall, the Diocesan Seminary. Two were in full-time parish placement as Deacons, Revs. Domagoj Matokovi¢ (Westminster Cathedral) and Thomas Blackburn (St Anthony’s, Edgware). Domagoj and Thomas were ordained to the priesthood on 29 June 2024 by Cardinal Vincent Nichols at Westminster Cathedral. Fr Domagoj was later appointed to Rickmansworth, Mill End and Chorleywood Parishes while Fr Thomas to Our Lady of Lourdes, New Southgate.
On a weekly basis, seminarians are usually involved in pastoral activities which may include ministry in hospitals, prisons, schools, university chaplaincy and parishes around London.
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REDEMPTORIS MATER HOUSE OF FORMATION Registered Charity No. 1047443 - Company No. 2965770
ANNUAL REPORT AND ACCOUNTS for the year ended 31 August 2024 (continued)
Among other accomplishments, these pastoral activities enable the seminarians to develop social skills for helping the most vulnerable and those at the fringe of society. This year they have had experience in nursing home, university chaplaincy, and parishes.
Public benefit statement
The Directors of Redemptoris Mater House of Formation believe, to the best of their knowledge, to have acted having due regard to the Charity Commission's public benefit guidance whenever exercising any powers or duties to which such guidance is relevant.
Financial Review
Direct charitable expenditure refers to funds used exclusively for:
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a) covering the maintenance costs for the House (rent, electricity, gas, water, telephone, repairs, etc.).
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b) paying for food, travel, studies and any other expenses necessary to provide the required training and ensure adequate living conditions for the beneficiaries.
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c) paying travel expenses for the students involved in missionary work abroad. d) providing food for the voluntary helpers (the rector and four lay helpers) who have been living full-time in the House for the sole purpose of running it in accordance with the charitable object of the Company.
None of the directors or members was remunerated. Money spent on charity management amounted to £34, while £1,382 was spent on fundraising.
The funds made available to the charity during the year 2023-24 came from voluntary donations from individuals, both in the UK and abroad, and a legacy.
The total donations received during 2023-24 amounted to £186,484, of which £2,771 came from overseas donors. Legacies received amounted to £84,570. The total income figure for the year was £273,122, more than the previous year due to one particularly generous legacy. Costs at £215,096, have been well managed for the year despite increasing on the previous year.
Fundraising complaints
During 2023-24 no fundraising complaints were received.
Structure, Governance and Management
The charity is constituted as a charitable company limited by guarantee and not having a share capital. Its governing document is the Memorandum and Articles of Association incorporated on 7 September 1994 (as amended by special resolution on 19 June 1995).
The members of the Pastoral Council (= Members of the charitable company) are appointed by the Archbishop of Westminster. As members of the charitable company, they propose the general lines for the charity’s activities; they appoint the Directors, the Secretary and the Independent Account Examiner and approve the yearly Annual Report and Accounts.
The company is run by an Administrative Council, whose members are the Directors of the company, who are also its Trustees. The Administrative Council is chaired by the Rector.
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REDEMPTORIS MATER HOUSE OF FORMATION Registered Charity No. 1047443 - Company No. 2965770
ANNUAL REPORT AND ACCOUNTS for the year ended 31 August 2024 (continued)
The Rector (a.k.a. Superior) of the House of Formation is the chief executive of the company. He is appointed by the Archbishop of Westminster and is ex officio member and chairman of both Administrative and Pastoral Council. .
All members of the Administrative Council (=the Directors of the company) are appointed by the Pastoral Council, i.e., by the Members of the company. No person other than a resigning member of the Administrative Council is eligible for election unless their nomination is made by a member of the Pastoral Council. Any member of the Pastoral Council is entitled to submit nominations.
Directors are chosen for their expertise in administration, legal matters and/or for their direct experience of working in the charity field. An induction process is carried out by other Directors on a one-to-one basis, with the support of material provided by the Charity Commission.
Day to day administration is delegated to the Rector, who works in association with the Administrator and takes relevant advice from Council members and other professionals before making important decisions.
Risk management
The members of the Administrative Council continue to assess the major risks to which the charity is exposed, in particular those relating to the specific operational areas of the charity and its finances. The members of the Council believe that by monitoring reserve levels, by ensuring that suitable control procedures over key financial systems are in place and by examining the operational and financial risks faced by the charity, they have established effective systems to mitigate those risks.
Reserves Policy
The charity has adopted a policy on reserves, whereby the directors aim at maintaining the general fund at around 6 months’ worth of budgeted annual expenditure to ensure that in the case of significant unforeseen events, the formation, education and accommodation of the seminarians may continue uninterrupted.
Furthermore, the directors have, until future review, designated funds for use in the event of having to relocate from or to make improvements to the building, namely a Relocation Fund of £75,000 and a Building Fund of £25,000.
Plans for the future
The plan for the immediate future is to continue running the House for the academic year 2024-25, and to make provision for the studies, pastoral activities and field-work training in the UK and abroad for the students attached to the House. Particular consideration has been given to the impact of postBrexit immigration regulations and increasing cost of living on the charity and its mission.
Students and staff will continue to carry out pastoral activities and assistance in various London parishes, hospitals, schools, prisons, or any other placement judged suitable for their training.
Redemptoris Mater will continue to support its former students who have been ordained priests, offering them services, advice and an appropriate environment for prayer and days of quiet. This support continues when priests trained at Redemptoris Mater are sent in mission abroad or in the UK. In the year 2024-25 one of them will be working in the diocese of Plymouth.
The House of Formation will also continue to offer hospitality to missionary priests and lay people who work with the students on itinerancy.
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REDEMPTORIS MATER HOUSE OF FORMATION Registered Charity No. 1047443 - Company No. 2965770
ANNUAL REPORT AND ACCOUNTS for the year ended 31 August 2024 (continued)
The directors intend to continue in their endeavour to broaden and diversify fundraising activities. The Christmas Concert, besides its fundraising purposes, has also proved to be a positive social activity which keeps us in touch with our benefactors and introduces us to new ones.
Statement of Trustees’ Responsibilities
The Trustees of the charity (who are also the Directors of the company for the purposes of company law) are responsible for preparing the Annual Report and the Financial Statements in accordance with applicable law, FRS 102 (Financial Reporting Standards) and SORP 2019 (Statement of Recommended Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing these Financial Statements, the trustees are required to:
a) Select suitable accounting policies and apply them consistently.
b) Observe the methods and principles in the current Charities SORP.
c) Make judgments and estimates that are reasonable and prudent.
d) State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the Financial Statements.
e) Prepare the Financial Statements on an accrual basis.
The Trustees are responsible for keeping sufficient accounting records that disclose 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, Charity Reporting and Accounting Guidance, and the provisions of the governing document of the charity (Memorandum and Articles of Association). 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 the Directors of the Company on? ] Jan)? and signed on its behalf by:
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renzo Andtetni
Director
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Date { 4 Ma Z °5
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REDEMPTORIS MATER HOUSE OF FORMATION Registered Charity No. 1047443 - Company No. 2965770
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF REDEMPTORIS MATER HOUSE OF FORMATION CHARITABLE COMPANY
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| report on the accounts of the company for the year ended 31 August 2024 which are set out on pages 7 to 9. :
Respective responsibilities of trustees and examiner
The Trustees (who are also the Directors of the Company for the purposes of company law) are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an-independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility:
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e to examine the accounts under section 145 of the 2011 Act ¢ to follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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e 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 from you as Trustees concerning any such 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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- e to keep accounting records in accordance with section 386 of the Companies Act 2006; and e to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS 102)
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.
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Daniele Lionetti \ poke | 7 |o> (21S
22 Avalon Road ‘ \j~« / ~
London W13 OBN
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Accounts for Year Ended 31/08/24
| STATEMENTOFFINANCIAL | Notes | Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|---|---|
| ACTIVITIES | fund | fund | 2024 | 2023 | |||
| £ | £ | £ | £ | ||||
| Income from | 1 | ||||||
| Donations and Legacies | |||||||
| Donations | 4 | 186,484.00 | - | 186,484.00 | 170,639.00 | ||
| Legacies | 2 | 84,570.00 | - | 84,570.00 | 3,500.00 | ||
| Grants from other charities | - | - | = | - | |||
| Other | - | “ | 250.00 | ||||
| Investment income | |||||||
| Bank interest received | 2,068.00 | - | 2,068.00 | 629.00 | |||
| Total Income | 273,122.00 | - | 273,122.00 | 175,018.00 | |||
| Expenditure on: | 3 | ||||||
| Fundraising costs | 1,382.00 | - | 1,382.00 | 561.00 | |||
| Charitable activities | 5 | ||||||
| Support for education | 213,680.00 | - | 213,680.00 | 176,026.00 | |||
| Administration | 6 | 34.00 | - | 34.00 | 13.00 | ||
| 213,714.00 | - | 213,714.00 | 176,039.00 | ||||
| Total expenditure | 215,096.00 | - | - | 215,096.00 | 176,600.00 | ||
| Net income/expenditure | 58,026.00 | - | - | 58,026.00 | - | 1,519.00 | |
| Transfers between funds | - | = | |||||
| Net movement in funds | 58,026.00 | - | - | 58,026.00 | - | 1,519.00 | |
| Totalfunds brought forward | |||||||
| at 1September 2023 | 238,006.00 | - | 238,006.00 | 239,525.00 | |||
| Total funds carried forward | |||||||
| at31August2024 | 296,032.00 | - | 296,032.00 | 238,006.00 |
Accounts for Year Ended 31/08/24
| BALANCE SHEET | 2024 | 2023 | |||
|---|---|---|---|---|---|
| 3 | £ | £ | |||
| FIXED ASSETS | 7 | 18,424.00 | 24,838.00 | ||
| CURRENT ASSETS | |||||
| Debtors | 8 | 9,774.00 | 9,102.00 | ||
| Prepayments | 249.00 | 533.00 | |||
| Petty Cash Cards | 1,428.00 | s | |||
| Cash at bank and in hand | 274,288.00 | 204,902.00 | |||
| 285,739.00 | 214,537.00 | ||||
| Creditors: amounts fallin; | 9 | ||||
| due within one year | 8,131.00 | 1,369.00 | |||
| NET CURRENT ASSETS | 277,608.00 | 213,168.00 | |||
| TOTAL NET ASSETS | 296,032.00 | 238,006.00 | |||
| RESTRICTED FUNDS | - | ||||
| UNRESTRICTED FUNDS | |||||
| Designated fund | 10a | 100,000.00 | 50,000.00 | ||
| General Funds | 196,032.00 | 188,006.00 | |||
| 296,032.00 | 238,006.00 |
For the year ended 31 August 2024 the company was exempt from audit under Section 477 of the Companies Act 2006
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provision applicable to companies subject to the small companies regime and in accordance with the Charity SORP and FRS 102
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Approved by the Directors of the Company on 7?) an Z. 05
lanSu
Secretary
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and signed on its behalf
Micelle,
Director
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Accounts for Year Ended 31/08/24
NOTES TO THE ACCOUNTS
1 Income
Income received for the general purposes of the Charity is included as unrestricted funds. Income for activities restricted by the wishes of the donor is included as restricted funds. All categories of income are credited to the Statement of Financial Activities in the year in which they are receivable.
| 2 Legacies Legacies are included in the Statement of Financial Activities when the Charity is advised by the personal representative(s) of an estate that payment will be made or property transferred and the amount involved can be quantified.
3 Expenditure
Expenditure is included in the Statement of Financial Activities when incurred and includes attributable input VAT which cannot be recovered.
| 2024 | 2023 | |||
|---|---|---|---|---|
| 4 | Unrestricted Donations | |||
| UK (UK Donations + GiftAidto be claimed) | 183,713.00 | 167,675.00 | ||
| Overseas | 2,771.00 186,484.00 |
2,964.00 170,639.00 |
||
| 2024 | 2023 | |||
| 5 | Charitable activities | |||
| Bankcharges | 195.00 | 64.00 | ||
| Books and newspapers | 958.00 | 560.00 | ||
| Motor expenses | 9,065.00 | 9,205.00 | ||
| Household furnishing and cleaning | 9,024.00 | 3,957.00 | ||
| Office stationery and computer | 1,838.00 | 1,349.00 | ||
| Taxes and rates | 660.00 | 659.00 | ||
| Food | 33,360.00 | 17,559.00 | ||
| Education | 70.00 | 107.00 | ||
| House services and repairs | 474.00 | 288.00 | ||
| Rent | 73,440.00 | 64,800.00 | ||
| Electricity | 891.00 | 1,477.00 | ||
| Gas | 11,907.00 | 13,031.00 | ||
| Telephone and internet | 1,670.00 | 1,823.00 | ||
| Water and general rates | 2,993.00 | 2,691.00 | ||
| Urban travel | 9,666.00 | 6,349.00 | ||
| Other travel | 24,208.00 | 25,808.00 | ||
| Seminarians personal | 4,308.00 | 3,349.00 | ||
| Medical Liturgical |
1,112.00 2,220.00 |
467.00 1,120.00 |
||
| Garden and flowers | - | 17.00 | ||
| Pastoral Sundries, gifts and hospitality |
9,119.00 856.00 |
10,513.00 354.00 |
||
| Depreciation expense | 9,992.00 | 3,946.00 | ||
| Legal chargesand visas | 5,654.00 | 6,533.00 | ||
| 213,680.00 | 176,026.00 |
Accounts for Year Ended 31/08/24
34.00 13.00
| | || | , , |
6 Management and administration Charity management
6a Directors and employees
The Directors received no remuneration for their services (2024: nil) The Charity employed no staff during the year (2024: nil)
| Capital Assets | |||
|---|---|---|---|
| 7 | FIXED ASSETS | 2024 | 2023 |
| SanctuaryoftheWord | 10,560.00 | 17,598.00 | |
| New Altar for Chapel | 4,684.00 | 7,240.00 | |
| Sanctuary of the Word Lighting | 3,180.00 | ||
| Total Assets | 18,424.00 | 24,838.00 | |
| 8 | Debtors | 2024 | 2023 |
| GiftAid recoverable | 9,774.00 | 9,102.00 | |
| 2023 | |||
| 9 | Creditors: amounts falling due within one year | ||
| Accruals | 8,131.00 | 1,321.00 |
10 Funds
Restricted funds comprise monies contributed by donors for specfic purposes or subject to specific conditions.
Designated funds comprise funds set aside out of unrestricted funds by the Directors for specific future purposes.
General funds represent those monies that are freely available for application towards
achieving any charitable purpose that falls within the Charity's charitable objects.
10a Designated funds
| Designated funds | |||||
|---|---|---|---|---|---|
| The following reserves have been | designated bythe Directors tocover the costs in the event of | : | |||
| a) Relocation ofthe Charity: | 75,000.00 | ||||
| b) Building works: | 25,000.00 | ||||
| Assets and liabilities of the funds | |||||
| 2024 | |||||
| Designated | Restricted | General | Total | ||
| Debtors Cash at bank and in hand |
- 100,000.00 |
- - |
9,774.00 174,288.00 |
9,774.00 274,288.00 |
|
| Creditors | = | : | 8,131.00 | 8,131.00 | |
| . | 100,000.00 | - | 175,931.00 | 275,931.00 |
11 Assets and liabilities of the funds
12 Taxation The Charity is not liable to income tax or corporation tax on income derived from its charitable activities. All of its income falls within the various exemptions available.
13 Operating leases Rentals payable under operating leases are charged to the Statement of Financial Activities as incurred over the term of the lease.
14 At 31 August 2024, the Charity was committed to making the following payments during the next year in respect of operating leases for land and buildings. The lease expires in November 2028.
The lease expires in November 2028. 2024 2023 Within one year 75,600.00 73,440.00 In the second to fifth year 239,400.00 302,400.00 315,000.00 375,840.00
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