The Society of Catholic Medical Missionaries - Central Fund Annual Report and Financial Statements For the year ended 31 December 2024 Charity Registration Number.. 1072S54
Th• So¢l•ty of Cathollc Medlcal Ml$slonarle$- Central Fund Annual Report and Financial Statements For the period ended 31 December 2024 Ch8rity Registration Number.. 10n554 The Trustees submit thr annual report and audited accounts for the year ended 31 D6c&mb8r 2024. In preparlng Ihls report, Ihe Trustees have complied with Chanti8s Act 2011. the Accounting and Reporling by crsarllies, the Stslemenl of Recommended Practrce SORP 2019, and the ConslilulioTr and principles of the Society of Catholic Medical Mi5sionarles. ADMINISTRATION The Society of Catholic M•dical Mi$gK)n8rieelrl Fund (SCIAMI. also kn¢)wn as Medl¢al Mission Sister5 IMMSI is registered with tho Charity Commission for England and Wales under numbor 1072554. Tha Trusloes are.. Agne3 Lanfermann, Soaety Coordin*or, Chair Rowona Miranda, member of Ihe General Assembly. Secretsry Rose Cherlan Va¢hap8rampil, General Treasurer Pilncipl& Office.. 41 ChalswortTr Gardens Acton. London. W3 9LP England, Uniled Kingdom 020 8992 6444 Fax.. 020 88962397 T&l8phone'. e-mall generalale MedilMi$sh7nslsters.Org.uk Auditus.. Moora Kingston Smith LLP rhe Shipping Building Old Vfftyl Fa¢tory Btyth Road Haye$ UB3 1HA Solicilor5'. stone King LLP Boundary House, 91 Charterhouse Sl. Barban, London EC1M 6HR Bankers.. The Cooperative Bank 14 New Broadway Ealing London VV5 2XL
The TrusleÈs have had regard to the Charity Commission's guidance on Public Benefit {Charilies and Public Benefit section 41 in planning and carrying out rhe activities of the charlty. The object of th8 charity as descrbed in the Tnrsl Deed Is". 'Yor such charitable purpose8 which advance Ihg religious, mgdical and other charitable work forthe tirne being carri8d out by or under the direction of the Central Administrauon of the ordev,. Ils purpose Is thè $uppart of the worfthide charitable wod( of the Society as a ligIouS order. The Charity delivers its charitable objectives by OrdInating. monotoring. facilitatitYJ, and supporting the Society's worldwide mission, promoting integral healing and welfare of people and the plan81, as w911 as SUPPClrting the wellbeing of its members. STRUCTURE, GOVERNANCE AND MANAGEMENT The Soci8ty of Calhollc Medieal Missionarles SCMM, (also known as Medical Mission Sisters) was found8d in 1925 by Dr Anna Deng@l in Washington DC, United Stsles of America. It is an internaJonal apostollc. rellglous order in th8 Roman Catholic Churth.11 is govemed by its own Constitution 8nd is divlded into 13 dislincl Units in 14 countries inAfru, Asia, EaslAsia, Europe. South and North Am8rica. As of December 2024 the Society has a total membership of 410 profo$s&d sisters from 22 different C¢)unlries and 13candldales. All admlni8lrativ8 Units of the Soc4ety located outsid8 th8 UK as well as th8ir ¢harrtable profre¢ts are registered in the respective county and comply with the country's legislauon and regulations. This Trustees. R8POrt and accounts are of t8 charrtable trust of the order In England, where Ihg Central Administration {Generalalel Is located. The SorAety of Catholic Mèdical MissionarS - Central Fund registration number 1072554 has the responsibility of coordinating, fa¢ilitsling and d1Cting worldwid8 charitsble aGlivities. The Trust Deed tJalgd 1 November 1990 governs the trust From 29 October to 2 November 2024. the General A8s8mbly IGAI mel lo propose future actions of the So¢iety in a changing wo¢,d and to evaluate the susiainability of Ihe Units. The members of the GA. reslding In London, are IJ ensure that life and mi$5ion in the worldwide order is coordinated and further d8vokJped in line wlth th9 prioritbes of the Society. ACHIEVEMENTS AND PERFORMANCE The GA members, during th8ir mission vlslts to the lo1 projecls In Philippines. India, Indonesia, Vi8lnam, Elhwjpia, Germany, England, Ghana and USA. 8n$ure that the Society's work on prevenllve, curative and promolive health care 8nd wellteing, r8spond lo the changing needs in different countries. Medical Missi¢n Sisters across thè world participat8 in the process of empowering vulneiable people by promotlng adequate access to health care, nulrilion, clean water and sanitation. Giving special attention lo ¢Jisadvantaged women and children, the sisters offer variou5 healing modalitie5 and skills training and join hands with other local NG05 in tying to pVant exploilalion other forms of VIOnce against women and children. including child labour and human trafficking. Medical Misslon Sisters serve various CCmmunilies ol indigenou5 peoples hglping them lo preserye their l¢JenlY, claim their rights and prot8cl their envlronmenL To a¢idress ecological issues and to ensure dimale jusb"ce. Sisters promotè tsrganic farming and sustainable life choi¢es. They proTnOte sustainable use of earth's r&sources, mlnimlzing waste or use of hamfrdl malerfals. and encourage ecological ways ol living among the people they serve. In the Intere51 of advancing its religious. medical and other charitable w¢)rk, the Central Administration during their visit to differ8nl countries has $nsurgd'. Ensurlng the su31ainability of mission projects by prioritizing 90818 and acbvrties, sharing of personnel, skills and financlal resource8 and fvndraislng for mission following ethical guKlelines Linking local activiti8s with the UN agenda forsustsinable development and collaborating with like-minded organizalions at loe41. regional and int8rnabonal levels Ongoing evaluation of local Invot¥ements to ensure an effective responsè lo emerging needs In accordance with thè Society's policies aftd procdures, Whi being mindful of
lo¢ally available resourcès Prornoling inler-cultural exposures and mission assignrnents Supporting appropriatè care of fhe m8mbers of all ages, including care of th8 ek1erly as well as th9 formatbnlintegrath.on and educatior* of new members Updating Public Relations. safe infomialion sharing and electronlccommunicalion Exer¢i$ing due diligence in handling and safeguarding the Society'$ financlal assets in support gf wortdwide mission and care of memb8ts Units ensure that mission and charitabie work remain relevant, that the needs of the mambers al all stsges of lifg are adequately provkled for and that available resources for Jnission are equitably shared. In London Sisters take part in voluntary work vla local parish and in collaboralion wlth other local Charilles Iwork with hoffleless, womèn and children). OPERATIONAL AND FINANCIAL The trustees w9r9 updated wlth the rol8s and responsibllities and all signrficanl chaiity policies 8nd op&rah'ons. Speclal attention was given lo the guidance of the Charity Commlsslon as W811 as legal and finanoal requirements issugd by other regu1810ry bodies. e.g. Ihg ICO, Fundraising Regulator. They 811anded online webinars related to th8 re5ponsibililYès of trust8èS. The trustees ar8 assisted by committees, such as Investrnent Commiitee and Finance Committee, which work ip. accordance wilh Ihelr defined role5 and responsibilities. The Inv8stm8nt Committee met ts¥ice last year in May 8nd November. Th8 Finance Committee met in August and reviewed the financial reports from all the Units and prepared an annual overvi8w of the financral position of the lotsl Society with recommendations lo Ihg leadership to ensure sustsinability gf life in mission in accordance wh the objecliv8s of the Swety. In addition. Co-mis$ions. each with rts lemis of referenceprovlded support and recomrnendallons in aa5 such as Missn, Cofflmunicabons, Fundraislng and Public Relations. IntegraUonlFormatian and Spiriiuality. Th8 Charity used its own funds lo provid8 financial support of Jesuit Refugee Service IJRSI b8sKles monthly standing order donations to non-proflt organisalions. Thg Charity Supported mission work in Rubanda and Adlumani in Uganda, Angiya in Kenyg, Rural Integrated Plolistic Approach to Alcoholism and Drug Addiction IRIHW Kripa add1th"on Centre in North Indla and ImmacuLgle Heart of Mary IIHM} Hospital in South India. The Charity supported students to preparg them for minislrles= one student in Ggrmany, one student in UK, Students in Uganda and thrse students in Kenya. Local communitie3 of Sistgrs make consistent efforts of usirg enronment and climate frndlY products and alternative energy sources and engaging in climate justic8 actions. Communilles participate in the local parfsh work with h¢)m91ess and other disadvantsge groups. The Charity continues ils financi21 support for Society's website and its secure internal email services provided to 811 Soci8ty'$ members around the worfd faeililaled stable commullication. RESERVES POLICY The Iruslees reviewed the Chartty 's need for reseryes in lin8 with the guidelines issued by the Charity Commlssionor. The Irusl&es are of the opinion that reseNes should provide sufficient flexibility lo cover temporary shortfalls in income to cope with and to respond lo unforeseen emergéncies and will cover the cost of maintsining ihe current Propee5 al an aeptable level. Trustees regularly revkw the Reserves, poky. At Present the Charity has adequata resefve to rne81 ils charitable 0¥'ecti8. RISK MANAGEMENT The Trustees assessed in a joirrt session with the employees th& major risks to which the charity Is
exposed relating lo organizational risks, personnel, health and safety, fire. financial risks. prorxgrty and rgputalion. Followlng the Rlsk Assessment It8n9 on 17 September 2024, thg Risk Register was Lfpdaled. 11 is ensured that all the procedures lo mitiga1& org8nizakn.onal risks are followed. Immigration regulallons were strictly folbwed. H8atth and safety measures are tsken as neede¢J. Internal ¢ontroL8 8re In place regarding financial transactions. The trustees regularfy receive and review reports of the Finance and Inv8slmenl Committee T,ley are satisfied that the committee mernbers carry out their duties in accordance with their tems of reference. In thg interest of fraud prevention, the Iruslees pay 8pecial attentign to the existence of a robust system of intemal controls. All invesknents are made according to 8thical guidelines develOd by thg charfty. Where 8ppropriale, risks of tho tharity are belng Covered by insurance. Th8 charity's Dats Protection Policy was r&vlewed and members as well as employees received reguL4r alerts about emerging risks and ways lo ensure the safe and responsible pro¢x8sing of personal dats. MMS Sn other countries operallng projects are receiving guidance in this field. With its own Soclety Safeguarding Pollcies and Pr¢)cedures in plac8. th& charity closely collaboratès with the Catholic Safeguarding Standards Agency and is a member of the Religious Safeguarding Service. accessing training opportunities lor members. MMS in the worldwide Society receive r8gular updates about the vital import¥n¢e of protecting the wellbeing of chlldren and vulnerable adults in Ih8ir care, and units as w911 as projects developed their local policies giving due regard lo th8 Society's policiès as well as thelr local regulatory conlexL FUNDRAISING The Society's Ethical Fundraising Policy is adhwed to and ensures du8 regard for the Code of FundfaSsing Practice and closely follows ils updates and impfements them into the Charity's Practice. The Society is regislergd with the Fundraising Regulator. Trustees have long established collaboration links with the independer,I fundraising bodies abroad, which regularfy supports different Units with designated donations. The charity's Fundraising D8partment in England and Wales continues to be aotlve and successful in helping differ8nl Units lo develop integraled funding requests in support of Ihair mi85ion developvnent. Employed by the Charoty. the Fundraiser provides free Serye5 to different projects abroad, whi¢h help members worldwide to develop skills in writing grant applications, accountability reports and Interact5 with donors which Charity regards as a part of its misslon support abroad. Networking and Linking Mission Responses with Activities of Like- minded Organizations The charity continues lo financially support the active p8rti¢ipalion and contribudon of members to the UN agenda, especially the SOGS, and of WHO. One GA-member links with WHO and acllvely particlpales In the network of faith&as8d organizath.ons engaged with the WHO'S agenda. In the interest of staying up-lo-dale with current th8ological discussions about ¢ross<ultural m18slon. issues like mission with migrants and refvgees, members of the Central Administration p8rticipated in fa-t0 fac8 as well as Sn online internatn81 wortshops organized by SEDOS Isgrvice of Documentation and Studies on Global Mission) and UISG {Unw)n of International Superiors Generall in Rome. The leadership also faalitaled att8ndancglpath"Gipation of members from dlfferent countrses in sessions dedicated lo efforts for the preservation of life on the planet, the combat of the climate crisis. Future events Th8 Trustees plan lo simplfy thg group Structu and morge with another c8nonic81ty linked Charty of tha Congregation registered in England and Was, which will involve movlng 811 of the assets and liabilitie8 of The Society of Catholi¢ MedScal Mlssionaries - Central Fund to 8 new established SDCl8ty of Catholic Mèdical Missionaries CIO. They a planning to transfer all assets and liabilities in 2025- 2026. The proce$$ of merge Is ongoing.
TRUSTEES EDUCATION In the interest of th@ responsible managemgnl of our flnancial a5sels. thè safe processing of sensitivg personal data and 8CtroniC data protection, Trustees as wellas m8mbers of staff conlin(r8d to allend virtual briefings of Moore Kingston Smith and 188 So1ors, Stone King LLC Solicitors, the NCSC (Natlonal Centre for Cyber Security) and Charity DKJtial'. personftel of the financo department and th trustses keep abr8ast with any development regarding the Charities SORP, Charty Commission Guidance on good govemance, fraud preventson and electronic data protection thus ensurlng that th8 Charty'8 Polldes and Proc8dur8s remain uptoth datfj. One trustee rggularly partlclpales in The Church Investment Group meetlngs. wrth particular focus on possibilities for ethical Investhenl and joint angagement with rPoratIonS regarding th8 pr8v8ntion of modern slavèry, damage lo the garth's climate and environment and the hamTful 8ff8Ct of forever chemirals for land, oceans and pgople's healih. Following the example of prevlous Trustees. the new membars of the board continue to attend briofings and updating regarding Important aspects of Trustees. dutEs, changing immigration laws, good fundraising pra¢bce, etc. The General Treasuor and Finance Officer aitend online seminars and briefings concerning HR, questions on tsxalion, charlty property management and fraud pr8v8nbon. Policies Adopted to Further the Objectives of the Charity. The SCMM-Cenlr81 Fund conlinu8S to be used lo support the development of mission and to fUrtr the ablllty of the members to carry out these charitsble activities. The Charity has continued lo pursue 8 policy of safe cash-bas8d investments according lo the approved ethical investment guidelines. Th& 8lhical investment policies of1he Soclety are reviewed and updated regulatly by the trustees. Review of the Transactions and Financial Position of the Charity A summary of the y8arfs rgsutts can be found on page 11 of the present r8porL The Charitys balanc& sheet shows net assgts of £1,660,434 Of thls £6ty),000 has been sel aside for the Supplem8ntary Fund, £480,972 were desbgnaled for Long Terni Sisters. Development Fun(J lo support formation of Members and evolwng needs of aging m&mbers worldwide. £72,871 was sel asidg for the Education Fund, which covers Scholarship expenses of Sisters from different Ltnits. General reserye8 without fixed ass8ts and other designated funds amount to £nil. Reslricled reserves of £170.901 are hekj lo spend on specific projects a5 per the terms of the fvndlng agregments. The lotsl amount of income was £727,240. The main incom8 was received as donallons from Vrbèden, charitable foundation of Dutch Medical Mtssion Sk81ers, Continued its SLTPPOrt of Sisters projects in different Units via the SCMM Central Fund. Our Charity supported the applications and forwarded Vrieden funds lo the projects in diffent countries. All donations were forward@d lo the projects without any delays and all bank fees In eonnection with th&se transfer5 were covered by the Charity, the total Snc¢me reiVed from Vrièden was £415.378. Due lo increase rates of retums, Charity's Inveslmanls brought a r8tum of £51,762. Charitys Educabon Fund prOVed support for 8th018rship fees for 7 Sisters working in different counlri8s. Mission ExnseS were £536,179 Support exp8ns8s £281,111. Key management remuneration Key managemgnl who are the charity's trustees. give their tim8 freely and no r8mungratK)n was paid lo Trustees in the year12024". £Nill. Statement of Trustees, Responsibilities The Truslges are r9sponsib for preparing the Trustees. Report and the financial 51alements in accordanca with applicable law and Unrted Kingdom Accounting Stsndards Iunited Kingdom
Generally Accepted Accounting Pracbce.) The law applicable lo charrli&s In England & Wa8 requires the Trustees to prepare ftnancial statements for each financlal year which give a truè and fair view of the slate of the affairs of th9 harily and of the incoming resour¢8s and application of resoUrS of tha charity for that pertod. In preparing these financial stat8m9nts, the Trustees arè required lo. solecl sultable accounting policl8s and then apply them consistendy., observe the méthods and principles in the Charflles SORP., make judgement6 and eslimales that are rèasonable and prudent.. state whether applicable acco¥Jnliny standard$ have been followed. subject to any material departures disclosed and explained In the financlal statements.. The TrLtstee$ are responsible for keeping proper accounting records th81 disclos8 with rgasonab accuracy 81 any lime the financial position of the charity and enable them lo ensure that the financial slal8menl8 Gomply wilh the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provigi¢ns of the tNst deeds. They are also responsible for safaguarding the assets of the Chartly and hence for taking rgasonable steps for the prevention and detection of fraud and other irregularits'es. Thè General Assembly, durip.g ils annual meeting, revlews the audiled report ol the Charlty as well as the r8ports of the GA Finance Committee and recomm&ndalions of the Sooety Flnance Team. task9d with annually assesslng the financial status ol the lolal Society including its unrts. Approv8d by the Trustees Generdl Treasurer Date: 30 iffer 2025
Independent Auditors, Report to the Members of The Society of Catholic Medical Missionaries - Central Fund Opinion We have audited the financial statements of The Society of Catholic Medical Missionaries Central Fund for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial ststements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable laws and United Kingdom Accounting Standards, including FRS 102'The Financial Reporting Standard Applicable in the UK and Ireland, (United Kingdom Generally Accepted Accounting Practice) and Charities SORP 2019. In our opinion the financial statements= give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure. for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance viith the requirements of the Charits'es Act 2011. Basis for opinion We conducted our audit in accordance wth International Standards on Auditing (UK) (ISAs(UK)l and applicable law. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the audit of financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wth these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusion relating to going concern We draw attention to Note 1. Basis of preparation of the financial statements" lch explains that the trustees intend to transfer all assets and liabilities of the charity to a new CIO and therefore do not consider it to be appropriate to adopt the going concem basis of accounting when preparing the financial statements. In auditing the financial statements, we have concluded that it is appropriate to prepare the financial statements on a basis other than that of a going concern. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other inforniation The other information comprises the infomiation included in the annual report, other than the financial ststements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and. except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Independent Auditors, Report to the Members of The Society of Catholic Medical Missionaries - Central Fund Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wth the financial ststements or our knowledge obtained in the audit or othewse appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other infomiation. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report the information given in the Annual Report is inconsistent in any material respects with the financial statements,. or the charty has not kept adequate accounting records., or the financial statements are not in agreement with the accounting records and retums- or we have not received all the information and explanats'ons we require for our audrt. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement set out on page 6, the trustees are responsible for the preparation of the financial ststements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misststement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concem, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charty or to cease operations, or have no realistic altemative but to do so. Auditorfs responsibilities for the audit of the financial statements We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misststement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance wth ISAS {UKI wll always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Independent Auditors, Report to the Members of The Society of Catholic Medical Missionaries - Central Fund As part of an audit in accordance wth ISAS {UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions. misrepresentations. or the override of internal control. Obtain an understanding of intemal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charty's intemal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concem. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or. if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation. structure and content of the financial statements, including the disclosures, and whether the financial ststements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate wth those charged with govemance regarding. among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in intemal control that we identify during our audit. Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with lavrfs and regulations. We design procedures in line wth our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. The objectives of our audit in respect of fraud, are., to identify and assess the risks of material misstatement of the financial statements due to fraud,. to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks,. and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests Yth both management and those charged with governance of the charity. Our approach was as follows: We obtained an understanding of the legal and regulatory requirements applicable to the charity and considered that the most significant are the the Charities Act 2011, the Charity SORP 2019 and UK financial reporting standards as issued by the Financial Reporting Council. We obtained an understanding of howthe charity complies with these requirements by discussions wth management and those charged with governance.
Independent Auditors, Report to the Members of The Society of Catholic Medical Missionaries - Central Fund We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions wth management and those charged wth governance. We inquired of management and those charged with govemance as to any known instances of non- compliance or suspected non-complian 1th laws and regulations. Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance wth laws and regulations. This included making enquiries of management and those charged wth governance and obtaining additional corroborative evidence as required. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentats"ons. or through collusion. Use of our report This report is made solely to the chartty's trustees, as a body, in accordance wth Chapter 3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the lIest extent permitted by law, we do not accept or assume responsibility to any party other than the charity and charty's trustees as a body, for our audit work, for this report, or for the opinion we have formed. I. S-,'IK (Lf Date.. 30 October 2025 The Shipping Building The Old Vinyl Factory Blyth Road Hayes, London UB3 1HA Moore Kingston Smith LLP statutory Auditor Moore Kingston Smith LLP is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006. 10
The Society of Catholic Medical Missionaries Central Fund Statement of Financial Activities For the year ended 31 December 2024 Year ended Year 8nded Restricted 31 December 31 December Funds 2024 2023 Notes Unrestricted Fuftds Income from: Donations Charitable activilies Stipends Transfers from Units Investments 13.141 415,378 428,519 287,626 7,OIXI 239,959 51,762 7,000 239,959 51,762 12.600 346,221 40,207 2(a) 21b) Total income 311,862 415,378 727,240 686,654 Expenditure on: Charitable activiti6s Donations/Mission Expenses Depreciation Total expenditure 460,076 15,120 342,094 802,170 15,120 611,447 16,695 475,196 342,094 817,290 828,142 (163,334) 73,284 (90,050) 58,512 Net galnsl{losses) on investments 44.856 44,856 21,968 Net Incomel(expenditure} (118,478) 73,284 (45.1941 80,480 Transfers btheen funds Net movement in funds {118,478) 73,284 (45,194) 80,480 Fund Balance brought fornvard At 1 January 2024 1,608,011 97.617 1.705,628 1,625,148 Fund balances carried forward At 31 Decomber 2024 11 1,489,533 170.901 1,660,434 1,705,628 There were no recognised gains or losses during the year other than the movements shown above. As the charty will be wound up wrthin 12 rnonlhs of the year end. activibes are not continuing. The accompanying notes form an integral part of these accounts. 11
The Society of Catholic Medical Missionaries Central Fund Balance Sheet As at 31 December 2024 December 2024 December 2024 December 2023 December 2023 Not8 Fixed Assets Tangible Assets Investments 45,387 1,455.706 56,662 1,394,157 1.501,093 1,450,819 Current Assets Current asset investments Debtors and prepayments Cash at bank Cash in hand 1.533 39,658 141.329 1,009 1.479 48,034 226,696 4,858 183.529 281,067 Current Liabilities 10 {24.188) (26,258) Net Current Assets 159,341 254,809 Total Net Assets 1.660.434 1,705.628 Unrestricted Funds - General Funds Designated Funds 11 11 75,297 1.532,714 1.489.533 1,489,533 1.608.011 Restricted Funds 11 170.901 97,617 1.660,434 1,705,628 Approved by the Trustees and authorised for issue on 30 October 2025 . General Treasurer . Society Cowordinator 12
The Society of Catholic Medical Missionaries Central Fund Cashflow Statement As at 31 December 2024 Year ended 31 December 2024 Year ended 31 December 2023 Notes Cash flows from operatlng activities Cash (used in)Igener8ted from ryeratrons Net cash inflow from operatlng activities 17 {120,388} (120,386) 38,938 36,938 Investlng actlvlt Purchase of tangible fixed assets Interest received Invested in current asset investrnents PreedS from disposal of investment (3,845) 51,762 (S4) {16.693 {3,849) 40,207 (1,4791 (12,668) Net cash used in investing actlvltl8S 31,170 22,211 Nat Increaselldecreasel in cash and cash equlvalents (89,216) 59,149 Cash and oash equivalents al beginning of year 231,554 172,405 Cash and cash equlvalents at end of year 142.338 231,554 Cash and cash equlvalents at end of yearare made up ofr. Year ended 31 December 2024 Year ended 31 December 2023 Cash al bank Cash in hand 141.329 1,009 142,338 226,696 4,858 231,554 13
The Society of Catholic Medical Missionaries Central Fund Notes to the Financial Statements For the year ended 31 December 2024 The attached accounts are the United Kingdom Sterling Accounts for the year ended 31 December 2024 for the General Assembw, they do not incorporate other wortd-wde accounts of the Society. Accounting Policies Basis of Preparation of Flnanclal Ststements The financial statements have bean prepared in cOrdanCe with the Financi81 Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. The regrslered charty is a public benefit entity for the purposes of FRS 102 and therefore has also prepared its financial statements in accordanc8 Wlth the Staternent of Recommended practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {Charrties SORP 2019) and the Charities Act 2011. The financial statements are prepared in sterfing: which is the functional currency of the cornpany. Monetary amounts in these financial statements are rounded to the nearest pound. The trustees plan to simplTfy the group structure which wtll involve moving all of the assets and liabilikne5 of Th6 Society of Catholic Medical Missionaries - Central Fund to a new CIO.The prccess of transferring assets is underway and expected to complete during 2026 resuMiNJ in tha cbsure of the charity. In view of this, the trustees consider it appropriatè to prepare the financial statements on a basis other than of going concern. The adoptK)n of a basis of preparation other than going mncern has not had an impact on the recognition and measur8m8nt of income, expenditure. assets or liabilities. No provisions hav8 been recognised in these financial statements as a result of Ihe changing the basis of preparation from going concern. Income and Expenditure All rterns of incorne and expenditure are accounted for using the rualS basis. Transf8rs from Units are effectively donations, which are recorded in the period in which they are received. or in which entitment is given. Incomé from inv8Stments includes the related tax credit. Governance costs include those incurred in the governance ot the charrty and are primarily associated wth constitutional compliarte and ststLrtory requirements. Allocation of costs between dlrect charitsble expendlture and other expenditure Costs are allocated to direct charitable expenditure where they relate to the pursuit of the Gharrty's objectives. Non- specific administrative wsts are allocated to other expenditure. Taxation The society is a registered charity, and as no trajing activity is carri1 out, is exempt frrmn income and corporyation taxes. Fixed Assets and Depreciation Depr8ciation is provided on fixed assets at rates will writ8 off the cost of the assets over their usefrjl effective lives. The rates used are: Freehold buildings Furniture and equipment 2.5% straight line 25% straight line Tangible fixed assets costing more than £250 are capitalised and included at cost. Investments Realised and unrealised gains and losses are added to or deducted frorn the appropriate fund in the Balance Sheet. Lash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call th bank. and other short-tèrm liquid investments with original maturities of three months or less. 14
The Society of Catholic Medical Missionaries Central Fund Notes to the Financial Statements For the year ended 31 December 2024 Accountlng Policies (continued) Flnancial Instruments Financial instwments are recognised in the Ghartls balan sheet then the charity becom&s paty to the contractual provisions of the instrument. Basic financial instruments are inrtially recognised at transactron value and subsequently measured at amortised cos( using the effectwe interest rate method. Other financial assets: including inveslrnents in equity instruments which are not subsidiaries, as$oGiates or joint ventures, are initially measured at fair value, vthich is nornally the transaction price. Such assets are subsequently carried al fair value and the changes in fair value are reccgnised in profit or loss. Basic financial liabilrties. including trade and other payables, bank k)ans, loans from fellow group companies and pr8f8renc8 shares that are classified as debt, are initrally recognised at transaction price unless the arrangement conslilules a financing transaction, where the debt instrument is measured at th8 present value of the future payments discounted at a marf(et rate of interest. Foreign Currencies Monetary asset5 and liabilities denorninated in foreign currencies arè translated into sterling at the rates of exchange ruling al the balance sheet date. Transactiolls in foreign currencies are recorded at the rale ruling at th8 date of the transaction. All differences are taken to the statement of finanGial adivities. Unrestrlcted Funds These are funds which can be used in rdance with thè charitable obieds at the discretion of the trustees. Designated Funds These are funds set aside by the trustees out of unr8strited general funds for specific future purposes or projects as shown in note 12. Restrlcted Funds These ar6 funds re1Ved with dorlor imposed restrictKins. Further detsil is provided in nota 12. Judgements and key SoUeS of estimation purposes In the application of the companys accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrwng amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on histor81 exp*nGe and other factors that are considered to be relevant Actual results may dtffer from these estimates. The estimates and undedying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the r8vision and future peric¥Js where the revision affects both current and future periods. The annual depreciation charge for tsngible fixod assets is sensFtive to changes in the estimated useful economic lives and residual values of the assets. The useful econornic lives and residual values affj re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments. eGonomic utilisalion and the physical condition of the assels. See note 6 for the carrying amount of the fixed assets and note 1 for the useful eGonomiG lives for each class of asseL 15
The Society of Catholic Medical Missionaries Central Fund Notes to the Financial Statements For the year ended 31 December 2024 (a) Transfers From Sectors Year ended 31 Decemb8r 2024 Year ended 31 December 2023 Surplus funds are transferred to the General Assembty fr(Kn . Sector America Sector Ethiopia Other 224,144 5.000 10.815 335,224 8,547 2,450 346,221 Year ended 31 December 2024 Year éndèd 31 December 2023 (b) Investment Incomè Income arising from Gash deposits Dividend income Unrealised gains 16,748 35,014 3.782 36,425 51,762 40,207 Year ended 31 December 2024 Year èndèd 31 Docember 2023 3 {aTr Donationslmission Expenses Direct Costs Donations l Mission Expenses 536,179 362,349 Support Costs House operating costs Meetings and travel Archives and Library Postage Telephone Office supplies Bank charges Office staff salaries Office Equipment Maintenance Sundry expenses Bad débt expense Foreign exchange (gain}lloss GovemanGe costs (see below) 52,365 52,589 5,520 1,107 7,603 2,301 102 102.299 12,402 3,516 1,282 216 24,689 265.991 802,170 67,315 7,883 50,833 45 8,924 1.868 177 87,505 7,034 3,171 14,336 249,098 611,447 16
The Society of Catholic Medical Missionaries Central Fund Notes to the Financial Statements For the year ended 31 December 2024 Year ended 31 December 2024 Year ended 31 December 2023 (bl Govemance Costs Auditorfs remuneratK)n Legal and professionai 13,320 11,369 11,670 2,666 24,889 14.336 Year end&d 31 December 2024 Year ended 31 December 2023 Staff Costs Wages and salaries Social Security costs Pension costs 139,280 8.265 3,262 125,843 7,318 2,963 150,807 135,924 The av6rage weekly number of persons employed by the Socièty during the year was as follows .' Year ended 31 December 2024 Number Year ended 31 December 2023 Number Administration No employees were paid in excess of £60,0(K) {2023 - None). Trustees The Irustees are members of the local Community and ther8fore their livirYJ expenses are included in the local community support Costs. There have been no other transactions wilh trustees or connected parties in the peri¢)d. No remuneralion has been paid to trustees, who represent key management personnel. 17
The Society of Catholic Medical Missionaries Central Fund Notes to the Financial Statements For the year ended 31 December 2024 Fixed Assets Freehold Interests in Land and Buildings 38 Chatsworth Gardens 41 Chatsworth Furniture and Gardens Equipment Total for period Cost At 1 January 2024 Additions Disposals Al 31 December 2024 406,479 104,989 37,632 3,845 128,089) 15,388 549,100 3,845 (26,089> 526,856 4Cfj,479 104,989 Depreclatlon Al 1 January 2024 Charge for the year On disposals At 31 December 2024 (360.154} (10,1621 (103.871) (1.118) 128,413) {3,840) 26,089 (6,164) (492,4381 (15,1201 26,089 1481,469 1370,316) (104,989) Net Book Value At 31 December 2024 36.163 9,224 45,387 Al 1 January 2024 46,325 1,118 9,219 56,662 All fixed assets a held for direct charitable use. Th& combined value of land and buildings for insurance purposes is £1,103,13312023.' £1,103,133). Yèar ended Year ended 31 December 31 December 2024 2023 Investments Cash held for investment purpjses Listed investments 1,455,706 1,455,706 1,394,157 1,394,157 Cash held for investment purposes have been transferred to a new CIO, Society of Catholic Medical Missionaries CIO. Eventually, everything will be moved over lo this entty. 18
The Society of Catholic Medical Missionaries Central Fund Notes to the Financial Statements For the year ended 31 December 2024 Common Propéty Total Investmènt Investmenl Llsted Funds Funds Investments Llsted investments At 1 January 2024 Inveslm8nt Disinvestment Net unrealised gains 1,106,758 16,693 287,399 1,394,157 16,693 43,479 1,377 44,856 Market valu8 as at 31 December 2024 1,166,930 288,776 1,455,706 Historical cost as at 31 December 2024 1,120,731 300,000 1,420,731 Year ended Year endod 31 December 31 Dec8mber 2024 2023 Debtors and Prepayments Oth8r débtors Prepayments 30,934 8,724 39,658 45,807 2,227 48,034 19
The Society of Catholic Medical Missionaries Central Fund Notes to the Financial Statements For the year ended 31 December 2024 Year ended Year ended 31 December 31 December 2024 2023 9 Bank CCoperative Sisters Account Co-op Bank IBCA Metro Account 32 72.655 68,642 32 150,951 75,713 141,329 226,696 Year ended Year ended 31 Dec&mber 31 December 2024 2023 10 Current Liabilttlos Trade Creditors Other Creditors Tax and soc1 Security Accruals 3,220 672 6,976 13,320 24,188 8,128 24 6.556 11,550 26,258 11 Movernent in Funds Galns, Resources Losses and Expended Transfers Balance Incoming Blfwd 2023 Resources Balanc8 c/*d 2024 General Deslgnatad: - Fixed Asset Fund 56,662 Emergency Fund 1,471 - Supplsmentary Fund 600,000 - Education Fund 235.244 - Support of Eldedy Sisters Worfdwide 72,871 - Long Term Sisterfs Development Fune 500,000 - Vrieden Fund 66.466 Restrlcted: Mrs Rope Trust Fund - Vrieden Fund 75,297 311,862 {447.198) 60,039 (15,120) 3,845 45,387 1,471 600,000 222,366 72,871 480,972 66,466 {12,878) (19,028) 1,886 95,731 1.886 169.015 415.378 (342,094) 1,705,628 727,240 (817,290) 44.856 1,660.434 20
The Society of Catholic Medical Missionaries Central Fund Notes to the Financial Statements For the year ended 31 December 2024 12 Movement in Funds (contlnued) The General Fund is in place to cover annual operating expenses and to enable the Supplementary Fund lo be built The fixed asset fund represents those funds whith are in the form of tangible fixed assets itKluding property. The trustees have sel aside the Emergency Fund for irnmediate donations to be made where there is an urgent charitable need. The Supplèmentary Fund has been buih up lo support sisters of retirement age and is to supplement benefits received from th8 Subsidy Fund. The Educalion FurKf has been designated from the donation received from Sector North America to support an education programme. The Support of Elderly Sisters Worfdwide fund has been designated frorn the donation received from Sector North America to SUFFOrt those eldedy sisters in need of support worldbmde. The Long Temi Sisterf5 Development Fund was s8t up to support the long term needs of members. The reslri¢ted fund in the previous year represents a donation reived from the Mrs Rope Trust Fund given for specific projects. This restricted Vrieden Fund represents amounts donated from Vrieden fcf nurnerous specified projects and its corresponding expendtture. Prlor year Movement in Funds Gains, Resources Losses and Expended Transfer3 Balance In¢omlng Blfwd 2022 Resources Balance Clfwd 2023 General DesigrDated: - Fiyed Asset Fund 58.776 - Emergency Fund 2.852 - Supplementary Fund 600,000 Education Fund 252,724 - Support of Elderty Sislers wor1KIe 69.831 - Long Term Sisterfs Development Fund 476,847 - Vrieden Fund Restricted, Mrs Rope TNst Fund - Vrieden Fund 440.605 {349,542) (15.7661 75,297 (16,695) (1,381) 14,581 56,662 1,471 600,000 235,244 72,871 500,000 66,466 9.627 3,040 (27,107) 23,153 1,886 95,766 1,886 95,731 233,382 (233,417) 1,62 1628,14 1,968 21
The Society of Catholic Medical Missionaries Central Fund Notes to the Financial Statements For the year ended 31 Dernber 2024 13 Analysis of Net Ass8ts between Funds Restrlcted Designatèd Gèneral Totsl Fund balances at 31 Decemb8r 2024 are represented by.. Tangible fixed assets Investments Current ass6ts Current liabilities 45.387 1,284,805 159,341 45,387 1,455,706 183.529 124,188) 170.901 24,188 24,188 170.901 1,489,533 1.660,434 Prior y8ar Analygls of Net Assets between Funds Restrlct8d Designated General Total Fund balances at 31 December 2023 are represented by.. Tangible fixed assets Invèstments Current assets Current liabilities 56,662 1,296,540 179,512 56,662 1,394,157 281,067 26,258) 97,617 101,555 {28,258 97,617 1,532,714 75.297 1,705,628 14 Capital Comrnltments There are no capital commitrnents at the year end (2023: none). 15 Related party transactions The only related paty during the year was Soctety of Catholic medal Missionaries CIO, with a mLrtual trustee Sister Rowena Miranda. There were no transactions with this company during the year. They are expecting to rnove all assets and liabilities to the CIO post wr end. (2fJ23'. nil). 16 Subsequent events The trusteès plans to sThplfy the group structure which will involve rnOng all of the assets and liabilities of The Society of Catholic Medical Missionaries- Central Fund to a new CIO. The prO$S of transferring assets 1$ underway and expected to complet8 during 2026 resulting in the dosure of the charity.
The Society of Catholic Medical Missionaries Central Fund Notes to the Financial Statements For the year ended 31 December 2024 17 Cash genèrated from operations Year ended Year ended 31 December 31 December 2024 2023 Surplus for the year (45,194) 80,480 Adjustments for: Investment income Unrealised gainlloss on investment Depreciation and impaimienl of tangible fixed assets {51,762) <44,856) 15,120 {40,207) {21,9881 16,695 Movements in worklng capital.. (Increase)IDecrease in debtOf3 Increase in creditors 8,376 12,070) 11,939} 3,877 Cash generatod from operations ,386} 18 Analysls of changes in net debt A131 December 2024 At 1 January 2023 Other non- cash change5 Cashflows Cash and cash equivalents Cash Total 231,554 231,554 (89,216 (89,216) 142,338 142,338 There are no other borrowings. 23