THE CATHOLIC ASSOCIATION {a Company LimAted by GU￿arAtee) TRUSTEES, ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2023 Regl8tered Charlty Number: 1071120 RegA8tered Company Number: 3581414 THE CATHOLIC ASSOCIATION CONTENTS Page IEg818nd Administrative Inforniation Trustees. Annual Report Statement of Fin8Lcial Activities Summary Encome and Expenditure Account Balance Sheet Statement of Cash Flows Notes to the Accounts 9-12 Independent Examiner's Report 13 THE CATHOLIC ASSOCIATION LEGAL AND ADMINISTRAIUVE INFORMATION Reglstered eompany number 1071120 Reg18teTed eharlty nwnber 3581414 Rezlstered Office: 10 Purbeck Close Ayle$bury BUCKS HP219UU DlreetOZ8 and Trn8te¢• Rt. Rev. Paul Hendricks Dr. Rosenwy Belderbos Matthew Betts Sirnon Gallop Anne Hoskins Anna Macer-wright Theresa Mahon Christopher Page Dr. Sadie Vile Rev. Piotr Wygnanski Bankers: CAF Bank Ltd 25 Kings Hill Ave Kings Hill WEST MALLING Kent ME19 4JQ SolldtOZ8: Stone King 13 Queens sqU￿e BATH BAI 2HJ A¢¢ountant8: Cocke, Vellacott & Hill 28 City Business Centre Lower Road LONDON SE16 2XB 8tockbToker8: J.M. Finn & Co. 25, Copthall Avenue LONDON EC2R 7 THE CATHOLIC ASSOCIATION TRUSTEES. ANfiuAL REI>ORT for the year ended 31st December 2023 The Trustees, who ajso the directors of the clwitable company. are pleased to present thexr report together with the f￿ancial statements of the eh3Jity for the Ye￿ ended 3 1st December 2023. which comply with current statutory requirements. the memor8ndum 8fAd 8rticles of association and the "Charities SORP IFRS 1021.. Legal and administrative inforniation are Set out on page l 8JLd foLrn part of this report. STRUCTURE, GOVERNAIYCE AND MANAGEMENT The ch￿itable company must maintain a register of members who entitled to attend and vote at general meetings which must be held at least twice a year. New members are approved by the existing trustees and must sign the register of members or consent in Writing to become a member. Members are entitled to attend general meetings. No resolution to appoint trustees sh8Jl be valid unless prior to the passing of the resolution. the chainnan has received the written consent of not less than two-thirds of the Pilgrimage Directors. The chaJity has no specific procedures for the induction and training of trustees, but new trustees given a summary of activities 8Ad duties and are offered training by Stone King. The board of trustees meet frequently basis via videoconference. The board appoints the rnanagement comn)ittee and the travel agents, is responsible for strategic issues. policies for $8leguarding. risk. health a￿d safety, investment policy) approves all charitable grants and adopts the annual report and accounts. The management committee responsible for the detailed 8rr¥ngements of the pilgrimage that takes place each year in August and meet regularly to Settle the detsiled arrangements for the pilgrimage and to review the result8 of the pilgrimage. The major risks incurred are:_ in the handllng of assisted pilgrims by inexperienced helpers. whilst adequate insurance cover is obtained, training and supervision is provided, and the intention is that the seriously sick pilgrims are only handled by trained and experienced helper8 the proper safeguarding of children. young people and vulnernble adults" the charity's safeguarding policy has been fonnulated, a code of conduct issued and training provided in line with CCSA. OWECTIVES AND ACTIVITIES The charity endeavours to advance the Catho]ic faith by providing for a￿d assisting poor, sick, disabled and infirni persons of all ages gnd in particular:_ to help any such persons wishing to make a pilgrimage to the Shrine of Our Iady of IKJurdes or to any other place of religious pilgrimage and to be financially responsible for the organisation of such a pilgrimage. The charity recognises that many assisted pilgTim8 a￿d Some helpers need financial assistance with the fare and invites applications for help. The charity relies almost entirely on volunteers to orga￿lSe. staff and run all departments necessaJy for the successbjl operation of the annual 7-day pilgrimage to Lilurdes in August / September. In planning activities for the year the twstees keep in mind the Ch&ity Cornmi5sion guidance on public benefit and whether they have complied with their duties under section 4 of the Ch￿itIeS Act 2011. ACHIEVEMENTS AND PERFORMANCE The trustees. with key members of the management committee, organised a very successful medically supported pilgrimage to Lourdes in 2023. Approximately 400 pilgrim8 came under the Catholic Association banner lone of the largest pl1￿]M ￿0uPS in Lourdes at the timel. A full programme of liturgies, processions, talks and other activities was 8Th3nged and enjoyed. Those that came reported that it was week of grace. both for those present. and for those who followed wrtuajly. The results show an excess of expenditure over income of g32,86712022 - £16,719) from activities and losses of £1,975 12022 - los$e8 of £17, 1941 arising from disposals and the revaluation of investments making an overajl deficit of ￿4.842. The portfolio is reviewed reBuI￿lY in conjunction with the externBI advisors. tnterest received on deposit balances remains low. The market value of investments is more th8JL their historical cost and this is reflected in the revaluation reserwe shown under The Funds of the Charity on the Balance Sheet. THE CATHOLIC ASSOCIATION TRUSTEES, AIINUAL REPORT for the year ended 31¥t December 2023 leontinuedl VINANCL4L REVIEW The trustees have examined the requirement for resenrs and consider that its rese￿e$ should be maintained at thexr present level to allow financial assistance to the assisted pilgrims and also to some helpers and nurses. The Chasity is providing increasing financial support to ensure the attendance of key health professionajs and others on the pilgrimage whilst, at the same time individual dioceses ￿e unable to guasantee their ability to fmance them. The trustees undert¥Jte to review this policy 9]￿u811Y 8nd to take into consideration the changing financial needs of the pilgrimage and the requirements of the Charity Commission. Apart from investment income, the ch￿Lty re]ies on donations and fLU]drai$ing efforts by its supporters and on the levy collected from pl￿]MS. Under the memorandum and arti¢le5 of association. the charity has the power to make any investment that the trustees see fit. The policy of the charity is to operate at break-even, to plough back any Surplus actually made and to invest this on the stock market. when conditions are deemed right. Instructions to brokers are to maintain a balan¢e between capital appreciation and dividend incorne PLANS FOR FUTURE PERIODS The Trustees, the Heads of Service, are planning a bjlly medically supported pilgrimage to IL)urdes for 2024. In order to further reinvigorate the pilgrimage again, #nd to counter the increasing obstacles to pilgrimages (rising travel a￿d accornmodation costs, post Brexit insurance and medical issues, scarcity of charter fiight oppOr￿nIties. rising concern over environmental issues). the trustees have taken a number of new initiatives, including improving communications, and committing funds to subsidising a limited number of places for targeted key groups, namely assisted pilgrims, experienced and youth helpers, nurses and doctors. The trustees are actively looking to the future. as$e$¥ing diffwent ways to achieve their charitable objects in a ch8nging world. TRUSTEES The t￿Stee8 who served during the year were.. Rt. Rev. Paul Hendricks ChTi8topher Page Matthew Betts Dr. Rosemary Belderbos Simon Gallop Anne Hoskins Anna Macer-wright Theresa Mahon Dr. Sadie Vile Rev. Piotr Wygn8fAski President (appointed 6. 11.231 (appointed 2 1.9.231 (appointed 4.5.231 (appointed 4.5.231 lappointed 6. 11.231 MANAGEMENT COhfMITfEE The trustees delegate to the management committee, whom they appoint, responsibility for the detailed arrangements of the annual pilgrimage to LAJurdes. The names 8nd respon$ibilitie$ of the management committee during the year were as follows: _ Simon Gallop - Chairnian Steve Gill - Trca¥urer Rev. Simon Blakesley - Pilgrimage Director C]iona Deverewt - PilgTin]age Safeguarding Officer Rev. Eugene C8Jnpbell - Dioces8fA Director Clifton Rev. Huw Williams - Diocesan Dirertor East Ang]ia Rev. Edward Perera - Archdiocesan Director Southwark Dr. Nuaja Mellows Director Stonyhurst Group Chantal Hobday - Director Glanfield Group Dr. Nuala Mellows - Cliief Medical Offlcer Tina Quinn Chief Nurse Brendon Roche Chief Branc￿dier Lina Al-Araj - Chief Handmaid Andy Joyce - Youth Group L£ader THE CATHOLIC ASSOCIATION TRUSTEES, ANNUAL REPORT for the year ended 3 151 December 2023 Icontinuedl TRUSTEES, RESPONSIBILITIES IN RELATION TO THE PtNANCIAL STATEMENTS Tlie trustees arc responsible lor preparing tlic Annual Report and the financial statements In accordance with applicable law and Un Itecl Kingdom Gcncrally Accepted Accounting Practice. Company laiv requires Ihe trustccs to prcpare financial statements lor each financial year that give a triLe and rair view of the state of ffairs of the charital)le compan}T and of its siirplus or deficit lor that period. In doing so the trustees are required to.. select sliitable accounting policies Emd apply theTn consistently,. mal