THE CATHOLIC ASSOCIATION la Company Limited by Guarantee) TRUSTEES, ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1st DECEMBER 2024 Registered Charlty Nujnber: 1071120 Reglstered Company Number: 3581414
THE CATHOLIC ASSOCIATION CONTENTS Page Legal and Administrative Information Trustees, Annual Report Statement of Financial Activities Summary Ineome 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 ADMINISTRATIVE INFORMATION Reglstered eoxnpany number 1071120 Registered charity number 3581414 Reglstered Office: 10 Purbeck Close Aylesbury BUCKS HP219UU Dlrector8 and Trustees Rt. Rev. Paul Hendricks Dr. Rosemary Belderbos Matthew Betts Simon Gallop Anne Hoskins Anna Ma¢er-Wright Theresa Mahon Christopher Page Rev. Piotr Wygnanski Bankers: CAF Bank Ltd 25 Kings Hill Ave Kings Hill WEST MALLING Kent ME19 4JQ 8olleltors: Stone King 13 Queens Square BATH BAI 2HJ Aeeountants: Cocke. Vellacott & Hill Unit 15 City Business Centre Lower Road LONDON SE16 2XB stockbrokers: J.M. Finn & Co. 25, Copthall Avenue LONDON EC2R 7
THE CATHOLIC ASSOCIATION TRUSTEES, ANNUAL REPORT for the year ended 31$t December 2024 The Trustees, who are also the director8 of the charitable company. are pleased to present their report together with the financial statements of the charity for the year ended 3 1 st December 2024, which comply with current statutory requirements, the memorandum and articles of association and the °Charities SORP IFRS 1021°. IEgal and administrative information are set out on page l and form part of this report. STRUCTURE. GOVERNANCE AND MANAGEMENT The charitable company must maintain a register of members who are 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 becorne a member. Members are entitled to attend general meetings. No resolution to appoint trnstees shall be valid unless prior to the passing of the resolution, the chairman has received the written consent of not less than two-thirds of the Pilgrimage Directors. The charity has no specific procedures for the induction and training of trustees. but new trustees are given a sumtnary of activities and duties and are offered training by Stone King. The board of trustees meet frequently basis via videoconference. The board appoints the management committee and the travel agents, is responsible for strategic issues, policies for safeguarding, risk, health and safety, investment policy. insurance and approves all charitable grants and adopts the annual report and accounts. The management committee are responsible for the detailed arrangements of the pilgrimage that takes place each year in August and meet regularly to settle the detailed arrangements for the pilgrimage and to review the results of the pilgrimage. The major risks are.. in the handling of assisted pilgrims by inexperienced helpers. adequate insurance cover is obtained, training and supervision is provided, and the intention is that the seriously sick pilgrims are only handled by medically trained volunteers andlor trained and experienced helpers the proper safeguarding of children, young people and vulnerable adults. the charity's safeguarding policy has been formulated, a code of conduct issued and full training provided in line with CCSA. OBJECTIVES AND ACTIVITIES The charity endeavours to advance the Catholic faith by providing for and assisting poor, sick, disabled and infirni persons of all ages and in particular'.- to help any such persons wishing to make a pilgrimage to the Shrine of Our Lady of IA)urdes 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 pilgrims and some helpers need financial assistance with the fare and invites applications for help. The charity relies almost entirely on volunteers to organise, staff and run all departments necessary for the successful operation of the annual 7-day pilgrimage to Lourdes in August / September. In planning activities for the year the trustees keep in mind the Charity Commission guidance on public benefit and whether they have complied with their duties under section 4 of the Charities Act 2011. ACHIEVEMENTS AND PERFORMANCE The trustees. with key members of the rnanagement committee, organised a very successful medically supported pilgTimage to Lourdes in 2024. Approximately 450 pilgrims came under the Catholic Association banner. A full programme of liturgies. processions, talks and other activities was arranged and enjoyed. Those that came reported that it was week full of grace, both for those present, and for those who followed virtually. The results show an excess of expenditure over income of £55,902 12023 - £32.8671 from activities and losses of £3,708 12023 - losses of £1,975) arising from disposals and the revaluation of investments making an overall deficit of £59,6 10. The portfolio is reviewed regularly in conjunction with the external advisors. Interest received on deposit balances remains low. The market value of investments is more than their historical cost and this is reflected in the revaluation reserve shown under The Funds of the Charity on the Balance Sheet.
THE CATHOLIC ASSOCIATION TRUSTEES, ANNUAL REPORT for the year ended 3 1st December 2023 Icontinuedl FINANCL4L REVIEW The trustees have examined the requirement for reserves and consider that its reserves should be maintained at their present level to allow fmancial assistance to the assisted pilgrims and also to some helpers and nurses. The Charity is providing increasing financial support to ensure the attendance of key health professionals and others on the pilgrimage whilst, at the same time individual dioceses are unable to guarantee their ability to finance them. The trustees undertake to review this policy annually and to take into consideration the changing financial needs of the pilgrimage and the requirements of the Charity Commission. Apart from investment income, the charity relies on donations and fundraising efforts by its supporters and on the levy collected from pilgrims. Under the memorandum and articles 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 balance between capital appreciation and dividend income PLANS FOR FUTURE PERIODS The Trustees, with the Heads of Service, are planning a fully medically supported pilgrimage to IA)urdes for 2024. In order to further reinvigorate the pilgrimage again, and to counter the increasing obstacles to pilgrimages (rising travel and accommodation costs, post Brexit insurance and medical issues, scarcity of charter flight opportunities, 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, assessing different ways to achieve their charitable objects in a changing world. TRUSTEES The trustees who served during the year were.. Rt. Rev. Paul Hendricks Christopher Page Matthew Betts Dr. Rosemary Belderbos Simon Gallop Anne Hoskins Anna Macer-wright Theresa Mahon Dr. Sadie Vile Rev. Piotr Wygnanski President Chairman Iresigned 27 Nov 20241 MANAGEMENT COMMirrEE The trustees delegate to the management committee, whom they appoint, responsibility for the detailed arrangements of the annual pilgrimage to Lourdes. The names and responsibilities of the management committee during the year were as follows: . Simon Gallop - Chainnan Steve Gill Treasurer Rev. Simon Blakesley Pilgrimage Director Cliona Devereux Pilgrimage Safeguarding Officer Rev. Eugene Campbell Diocesan Director Clifton Rev. Huw Willian]s Diocesan Director East Anglia Rev. Edward Perera Archdiocesan Director Southwark Dr. Nuala Mellows Director Stonyhurst Group Chantal Hobday Director Glanfleld Group Dr. Nuala Mellows Chief Medical Officer Tina Quinn Chief Nurse Brendan Roche Chief Brancardier Lina Al-Araj - Chief Handmaid Andy Joyce - Youth Group Leader
THE CATHOLIC ASSOCIATION TRUSTEES, ANNUAL REPORT for the year ended 31st December 2024 Icontinuedl TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The trustees are responsible for preparing the Annual Report and the fllyancial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charitable company and of its surplus or deficit for that period. In doing so the trustees are required to: select suitable accounting policies and apply them consistently. make judgements and estirnates that are reasonable and prudent" and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue to operate. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financi21 statements comply with the Companies Act 2006. The trustees 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. AUDIT EXEMPTION The company has taken advantage of the exemption under section 477 of the Companies Act 2006 relating to small companies and these financial statements are therefore unaudited. By Order of the Board Chairnian Christopher Page 2025
THE CATHOLIC ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st Deceznber 2024 Unrestrleted Funds Re8ts1eted Funds Tot Funds 2024 Total FndS 2023 Notes Income from: Donations and legacies ChaTitable activities.. Levy on IA)urdes pilgrims Sales of clothing Investments 2.398 9,260 11,658 20.655 8.540 8,540 9,915 3,919 962 4,881 6,344 Total 14,857 10,222 25,079 36,914 Expenditure on.. Raising funds Charitable activities: Grants to pilgrims Cost of running the pilgrimage Governance 900 900 949 8.896 3.219 126 8,896 64,483 6,702 11,646 53,232 3,954 61,264 6,576 Total 68,740 12.241 80,981 69,781 Net gains / Ilossesl on investments 13,7081 13.7081 (1.975) Net income / lexpendlture) Transfers between funds 157,5911 12,0191 159,6101 (34,842) Net movement ltt funds 157.5911 12,0191 159,6101 (34,842) R¢eoneiliation of funds Tot funds brought forward 114,906 73,947 188,853 223, 695 Total funds earrled forward 57,315 71,928 129,243 188, 853 The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities. The notes onpages 9 to 12forni part of thesefjnanciai stateynents
THE CATHOLIC ASSOCIATION SUMMARY INCOME AND EXPENDITURE ACCOUNT for the year ended 31 st December 2024 Notes 2024 2023 INCOME Gross income 25.079 36,914 Gains IIA>ssesl on disposal of investments based on book values 13,5501 (829) 21,529 36,085 EXPENDITURE Total expendire 180,9811 (69,781) NFf INCOME IEXPENDITUREI FOR THE Y&4R 159,4521 {33.696) All of the operations undertaken by the charitable company during the current and preceding year are continuing operations. Based on the historical cost the net loss for the year would be £53,426. The summary Income and expenditure account 1$ derived from the statement of fmancial activities on page 5 which together with the notes to the accounts on pages 9 to 12 provides lull information on the movements during the year on all the funds of the charitable company. The notes onpages 9 to 12forni part of thesefinancial statements
THE CATHOLIC ASSOCIATION BALANCE SHEFr as at 31st December 2024 Notes 2024 2023 FIXED AssFrs Tangible assets.. Vault at Lourdes Cemetery Investments 1,380 73,775 1.380 113,382 Total Flxed Assets 75,155 114,762 CURRENT ASSFfS Stock Debtors Cash at bank and in hand Ilel 205 383 55,965 205 531 75.237 Total ellrrent assets 56,553 75.973 LL4BILITIES Creditors: Amounts falling due within one year io 12.4651 (1,882) Nrr CURRENT ASSETS ILIABILITIESI 54.088 74,091 TOTAL Assyfs LESS CURRENT LL4BILITIES 129.243 188, 853 THE FUNDS OF THE CHARITY Restricted income funds 12 71,928 47.242 10.073 73,947 94,384 20.522 Unrestricted funds Revaluation reserve TOTAL CHARITY FUNDS 129.243 188,853 The directors are of the opinion that the company is entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies for the year ended 31 st December 2024. The directors confirm that no member or members have requested an audit in accordance with Section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for.. al ensuring that the company keeps accounting records which comply wtth Section 386 and 387 of the Companies Act 2006, and bl preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as is applicable to the company. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The Financial Statements were approved by the Trnstees on 2('T I 2025 and signed on their behalf by.. Christopher Page - Trustee Registered company number: 358 14 14 The notes onpages 9 to 12fornip(fft of thesefinanclal statements
THE CATHOLIC ASSOCIATION STATEMEIIT OF CASH FLOWS For the year ended 3 1st December 2024 2024 2023 Notes Total income Total expenditure 25.079 180,9811 36,914 (69.781) Net income less eKpeLditure before net gains I losses on investments Decrease lincreasel in stock Decrease Ilnereasel In debtOTS Increase (decrease) in credltors Tnvestnient Portfolio: 155,9021 (32,867} 148 (24) 583 Fknrehases Disposals Decrease lincreasel in cash held as part of portfolio 37,468 11,5691 50,536 413 Increase Ideereasel in cash 119,2721 18,058 The notes OTLpages 9 to 12fomipart of thesefinancial statements
THE CATHOLIC ASSOCIATION NOTES TO THE ACCOUNTS for the year ended 31 st December 2024 ACCOUNTING POLICIES lal Basis of Accounting The accounts have been prepared under the historical Cost convention, as modified by the inclusion of red asset investments at market value and in accordance with the Companies Act 2006 and follow the recommendations of the Charity Commission in "Charities SORP IFRS 1021°. In common with many other charitable companies of our size we use our accountants to assist with the preparation of the financial statements. Ibl Voluntary income is received by way of donations. gifts and legacies and is included in full when receivable. Icl Resources expended are recognised in the period in which they are incurred. Idl Costs are allocated directly to the applicable category. There are no apportionments of overheads. Support costs to dioceses represent actual financial contributions to them to promote the pilgrimage in their dioceses. lel Stock comprises:_ pilgrimage badges which are valued at the lower of cost and net realisable value shirts loaned to male brancardiers for use during the pilgrimage which are deemed to have a useful life of 3 years and written off over that period. lfj Fixed assets The vault at Lourdes is shown at the value it was assumed from The Catholic Association Pilgrimage Trust - no depreciation will be charged on this asset. Igl Investments held as red assets are revalued at mid-market value at the balance sheet date and the gain or loss taken to the Statement of Financial Activities. Ihl Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without specified purpose and are available as general funds. lil Restricted funds are to be used for specific purposes when raised for that particular restricted purpose. Expenditure, which meets these criteria, is charged to the fund. (J'l Provision for corporation tax is unnecessary as the company is a registered charity. Gift Aid tax is recoverable on donations. VAT is not recoverable on the charity's expenditure. 2. LEGAL STATUS OF CHAIUTY The charity is a company limited by guarantee and has no share capital. The liability of each member is limited to £1. INCOME FROM INVESTMENTS Unrestrlct¢d Fund Restrlcted Funds Total Funds 2024 Total Funds 2023 Income from UK listed investments Interest received 3.517 402 3,517 1,364 5,586 758 962 3,919 962 4,881 6,344 4. RAISING FUIqD8 Unrestrleted Fund$ Restri¢t¢d Fund¥ Total Fund$ 2024 Total Funds 2023 On-line giving charges Investment management costs 900 900 949 900 900 949
THE CATHOLIC ASSOCIATION NOTES TO THE ACCOUNTS Icontinuedl for the year ended 31st December 2024 5. GRANTS TO PILGRIMS Unrestslcted Funds Restrlcted Funds Total Funds 2024 Total Funds 2023 Grants to assisted pilgrims and their parents Grants to helpers 8,896 8,896 11.646 8,896 8,896 11,646 Financial assistance was given to 31 sick children and their carers (28 in 2023). 6. COST OF RUNNING THE PILGRIMAGE Unrestrlctsd Fund$ Re$trlcted Fund$ Total Funds 2024 Total Funds 2023 Subsidies to nurses and helpers Lourdes levy Pilgrimage expenses: _ Training costs and conferences Preparation meeting eosts Pilgrimage director expenses Insurance Prayer books and music Hire of equipment Marketing and communications Badges Food and general supplies Drugs and medical expenses Van hire and coaches Cost of clothing Accommodation General expenses 40.016 3,883 40.016 3.883 28,209 6,248 994 1,700 1,063 475 1,691 254 3,258 518 1,290 183 2,181 1.241 1,103 1.414 994 1.700 1.063 475 1,691 254 3.258 518 1.377 1.683 3.813 1,241 1,103 1,414 1, 155 688 696 1,456 500 4,088 501 3.436 1.151 3.893 178 1,033 87 1,500 1,632 61,264 3.219 64.483 53.232 GOVERNANCE Unrestrleted Funds Restrlcted Funds Total Funds 2024 Total FndS 2023 Administration support Legal support Accountant's remuneration: _ Independent examiner's fee Accountancy fee Safeguarding Miscellaneous expenses 1,020 3,480 1,020 3,480 1,641 480 1,440 96 60 480 1,440 96 186 480 1,440 213 180 126 6,576 126 6,702 3, 954 None of the trustees received any remuneration and no trustees 12023 - none) were none reimbursed for committee travel expenses (2023 - £nil). The charity has no employees, the work of the charity being carried out by volunteers. Work is also carried out by external organisations and consultants when necessary and approved by the board of trustees. io
THE CATHOLIC ASSOCIATION NOTES TO THE ACCOUNTS Icontinuedl for the year ended 3 1st December 2024 IrivESTMENTS 2024 2023 Quoted investments listed on the UK stock exchange Market value at 1st January 2024 Additions Disposals Gains I ILossesl arising on disposals Gains/ ILossesl on revaluation 112,953 165,464 137,4681 13,5501 11581 (50,536J (829) (1,146J Market value at 3 1st December 2024 Historical cost 31 st December 2024 71.777 61,704 112,953 92,431 Surplus on revaluation 10,073 20.522 Market VVe 2024 Market Value 2023 Cost Fixed and variable interest Equities Investment Trusts 11.439 30.031 20.234 11,105 30,752 29,920 21,065 54,226 37,662 Total quoted Investments Cash held as part of investment portfolio 61.704 71,777 1,998 112,953 1,998 429 Total 63,702 73,775 113,382 The following investments exceeded 5 % of the value of the portfolio at the year end.. 3, 100 Blackrock Sust American Income Trust ord. Ip share$ with a market value of £6. 169 10,000 SVS Church House Investment grade red int inc shares with a market value of £1 1,105 1,650 BP ord. US$ 0.25 shares with a market value of£6,485 400 Gl8xoSmithKline ord. 0.3125p shares with a market value of £5,386 1,850 Impax Environmental Markets ord. l Op shares with a market value of £7, 123 2,800 Murray Intemational Trust ord. 25p shares with a market value of £7,2 10 1,000 Henderson Smaller Companies Investment Trust ord. 25p shares with a market value of £8, 120 6,500 Link Fund Solutions Trojan X Inc. shares with a market value of £8,701 3,000 Securities Trust of Scotland red. ord. Ip shares with a market value of £6.930 100 Unilever ord. 3 119 p shares with a market value of £4.548 9. DEBTORS 2024 2023 Sundry debtors 383 531 10. CREDITORS: Amounts falling due within one year Other creditors 2024 2023 2,465 1,882 li
THE CATHOLIC ASSOCIATION NOTES TO THE ACCOUNTS Icontinuedl for the year ended 31 st December 2024 I I. ANALYSIS OF NET ASS8 BETWEEN FUNDS Restrleted Income Funds Unrestrleted Funds Total Charlty Funds Tangible f]xed assets Investments Current assets Current liabilities 1,380 55,729 2,671 12,4651 1,380 73,775 56,553 12,4651 18,046 53.882 Net assets at 3 1st December 2024 71.928 57,315 129,243 12. MOVEMENT IN RESTRICTED INCOME FUNDS At 1st January Ineomlng 2024 Resources Outgolng Transfers At 31st December Re8ouTces In/loutl 2024 Glanfield Children's Group Pund Catholic Association Hospitalité of Our IAdy of IAJurdes Fund Nell Atkin Fund 40,426 8,953 111,9941 37,385 15.475 18,046 1,269 12471 16,497 18,046 73,947 10,222 112,2411 71,928 Glanfield Children's Group Fund This exists to accommodate the special needs of young sick children. Catholle Assoelation Hospitalité of Our Lady of Lourdes Fund This provides for the fellowship and spiritual needs of those who go to Lourdes to care for the sick. Nell Atkin Fund This arose from donations received from the family of a former helper in her memory to support past helpers who would be unable to travel to Lourdes without financial assistance and to promote the benefits of Lourdes to potential new young helpers. 12
THE CATHOLIC ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CATHOLIC ASSOCIATION report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2024. RESPONSIBILITIES AND BASIS OF REPORT As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 l.the 2006 Acfl. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the 2011 Act l.the 2011 Act.). In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. INDEPENDENT EXAMtNER'S STATEMENT I have completed my examination. I confirni that no material matters have come to my attention in connection with the examination giving me cause to believe: 111 accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act" or 121 the accounts do not accord with those records. or 131 the accounts do not Comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a "trne and fairf view which is not a matter considered as part of an independent examination. or 141 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- I have no concerns 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. DAVID WARREN BA FCA Cocke, Vellacott & Hill 15 City Business Centre Lower Road LONDON SE16 2XB 2025 This page does not form part of the statutory accounts 13