Charity registration number 1073795 (England and Wales) MISSIONARIES OF CHAIUTY OF MOTHER TERESA OF CALCUTTA TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST LEGALAND ADMINISTRATIVE INFORMATION Trustees Sr M Irnelda Sr Ancilla Marie Sr H Ines Sr M lonella (Appointed 7 October 2024} Charity number 1073795 Prinelpal address 177 Bravington Road London W9 3AR Auditor Richard Place Dobson Services Limited Ground Floor 1- 7 Sraiion Road Crnwlcy West Susscx RJIIO IHT
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST CONTENTS Page Trustees, report Statement of trustees, r¢sponsibiliti¢s Independenl auditovs report Statement of financial a¢tiVilies 10- 11 Balanc¢ sheet L2 Statement of cash flows 13 Notes to the financial statcments 14-22
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The tSteeS prcsent thcir annual rcport and financial statements for the year ended 31 December 2024. The financial ststements have becn PTtsparcd in accordance with the accounting policies set out in note I to the financial statements and comply with the chariry's avsl deed, che Charities Act 201 l and "Accounting and Reporting by Charities.. Statcmcnt of Recomrnendcd Practice applicable to ¢harili&s preparing their accounts in accordance with the Financial Reporting Standard applicdble in the UK and Republic of Ireland (FRS 102)" (effective l January 2019). Objettives and a¢tivities The main objects of the charity are: l. The rclief of poverty. 2. Wh¢re applicable. the advancement of religion. 3. The advancement of education. 4. The r¢licf of the old and sick. 5. General cEwitable work wherever such work is needed througbout the worLd. The Charity undertakes various activities lo a¢hievc its main objectives: - The relief of povety ihrough soup kitchens. hostels lor bomel¢ss men and women. night soup runs, groGcries provided for farnilies every week. distribution of clothing and toil¢tries. - Where applicable. the advancement of religion through cate¢heti¢al progranunes for children and adults. The relief of the old and the sick through visits at home and to hospitals. - General ¢haritable work such as summer schemes for cbildren and youth clubs and visits to families. Public benefit We have referred to the guideliti in the Chariry Commission's general guidance on Public Benefit when reviewing our aims and objectives and ID planning our future activities. In particular, the ¢ntee$ consider how planned aciivities will conlribute to the airns and objectives they have set. page I
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance The S?steTS ar¢ increasingly working with refugees. In addition, monies have been scnt either via the Europcan main office in Rome or via India to support overse&s projects in Asia. Afrtca, South America and Easicm Europe. This money is used - medical dispensaries. mobTle clinics and leprosariums" - homes for th¢ dying, orphanages, homes and hostels for the homeless. feeding centres and soup kitcE]ens; - slum schools, typing and sewing classes. The ¢harity does not undertake any fimdraistng activities. To better explain the activities of the Charity, her¢with are the statistics of our activities for 2024.. - dry rations distributed to families and individuats in need (12 brdn¢h houses): 1,036 rations - meals served in the soup kitchen (7 branch hous&s): 46.693 meals Irtalslsnacks served on the street or at the door. 293 meals Hosiels for homeless men/wom¢n (5 branch houses) p¢rsons admitted during Ilie y¢ar- i24 peTsons persons discharged during the year-. 31 O persons persons at present staying with us.. 57 persons The Sisiers organised a nutnber of outings for families, children. the elderly and the homeless, and also carri¢d out many social visits during the year.. family visiting.. 673 persons shut-ins visiting.. 607 persons 23 nursing homes: 230 persons 19 hospitals: 157 patients 2 Prison- 370 Person streetslpark visiting: 1,129 persons mon¢tsry relief given.. 188 persons ec ents Baptlsm: 6 persons Confession.. 326 persons First Holy Communion". 58 persotis Confimalion: 2 persons First Confession.. 47 persons ArLoinling of the sick: 18 person The Sisters ran a numbcr of Catechism eentr¢s throughout the year. 7 of those were for the Cat¢cliisc5 of the Good Shephcrd attended by 83 children, 12 Sunday schools for children attended by 167 Children, 3 Public schools attended by 179 children and 3 Summer camps were attended by 131 children. Also 9 Caiechisrn for adults were attended by 108 persons and 21 group pilgrimages were attended by 694 persons. The Sisters continue tbeir work for children and adults by". 3 prayer group for 19 persons. - 27 retreat group for 545 peT50ns" - 6 adoration groups for 35 persons- - 5 groups of Holy Mass for 47 persons" - Holy Communion taken to the Sick and Hou5¢bound for 45 persons - Consecration of the sacred heart for 3 persons. - Consecration to the Inunaculate HeartlDivine Mercy for 31 persorLS' - Pilgrim StaMe of Our Lady brought to familA¢S at]d House Blessings for 369 families; - Lay Missionaries of Charily and I Thirst Movement: 2 groups for 17 persons pagc 2
MISSIONAIUES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Bravin on: Thc community hLS a hostel for up to 8 homeless women who have no recourse to public funds. They provide breakfast and dinner for the residents as well as care for their irnrncdixte needs free of charge. The womcn gather for prayer, house mcctings and activities (such as outings). The Sisters also Nn a soup kitchen for the poor three times a week with an opportunity for prayer, Holy Mass, Confession and a homecooked dinner. They are also takcn on a pilgrimage lo Aylesford yearly and an outing to th¢ scaside. The communiry also doe5 family visiting. visits the elderly in care horn¢s and bring Holy Communion to Ihe sickthousebound. When on the streets the Sisters prdy With those who are homeless or who ask for our Prayers as well as provide immediate help such as food. themials etc. Swansea.. The coinmuniry has a hostel for up lo 10 homeless men. Th¢ men are helped lo sort out their pap¢rwork 50 that they can morc easily transition to a more permanent accommodation. The Sisters provide two meals a day as well as provide for tbeir immediate needs. The comtnunity also runs a soup kitchen for the poor. they also teach Catechism for the children in two Parishes (about 32 children). The ¢ommuDity also has Adult Calechisni Prayer Group, and lake tlie Pilgrim Siarue of Our Lady to the families. They also provide food for the people who come at the door. The soup kitchen is also a venue for ihe AA program for those trylDg to overcome their addictions. Newcastle: The community has a soup kitchen open once a week for the poor providing a home Cooked meal (around 25-30 persons} and whatever (oiletries they may need. They have C8techism programmes (weekly class¢s/retreat days with confessions. Good Shepherd Catechesis) and a Iwo-week summer camp (about 45 ¢hildren) for children who cannot afford ¢0 go to other prowarnmes over the summer. The They go family visiting and visit the elderly and Ihe housebound and nursing homes. They also lake Holy Communion to the housebound. Part of their Apostolate is taking the Pilgrim Virgin Mary stawe into the homes and praying with them. They host 2 ycarly processions for our poor. Financi41 review The Statement of Financiic l Activitie5 on page 10 shows net expenditrjre of £719.841 (2023.. net income of £1,088,849). A150 shoMI on page I I the UK ¢harity has been able lo contribute £1,000,000 (2023 - £406.571) to the worldwide a¢iivities of the Missionaries of Charity. The Coi)stitulions of the Order state 'we Thill depend on donations in cash or in kind, and 'we will not worry about tomorrow, but live the present moment intensely with complete tnr in God,. H¢n¢¢. free reserves in excess of immediate needs are lorwarded lo Rome oa 8 six monthly basis. The fvtyr¢ plans for the cbority involve earyying on the good work they are doing in th¢ cornmunities that they cUentlY serve. page 3
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structur4 governance and manaoement The charity is controlled by its governing document. a dttd of trt and constitutes an unincorporated charity. The trustees who scrved during the year 8nd up to th¢ date of Sibn)ature of the financial statements w¢rc.- Sr M Imelda Sr Ancilla Marie Sr M Mariant Sr H Ines Sr M lonella (Resigned 7 Octobcr 2024) (Appointed 7 October 2024) The appointments are to be confirnied at the ¢harity'S Annual General Meeting. Changes in appointrnents may take place either al a meeting of which minutes are taken or by the R¢gional Superior signing a forn] of appointment. Risk management The TN$eS have examined the Major strategic, business and operational risks which the charity faces. A full risk register has b¢en produced and is being reviewed annually to ensure systems are in place to mitigate the risks identified. A major risk identified was the saf¢ry and security of the sisters in their work environment, this has been mitigated by means of catrying out fvll assessments of beneficiaries before being accept¢d into hostels. The charity also complies with Health and Safcty Regulations and has local council checks CWTied out under its Houses in Multipl¢ Occupation Licence. The charity's accounting and recording procedurcs are dictated by its Mother House in Calcutta. A Bursar within each House is noiiiiiiated and she is r¢spon5iblc for the day to day running of the ¢hariry together wilh the House Superior. On l May 2000 the ckwity look over the assets and liabilities of the Charity 'Missionaries of Charity,. regislralioo number 262578 which has since been MoVed from the Charity Commission register. This charity is now more commonly known as the 'Misstonaries of Chariw. The ¢FLarity has taken on the responsibiliry for all operations of another chariry. 'Co-workers of Moiher Tere5a'. This charity was set up under a ¢on5tituiion dated 22 June 1999 but was removed from the Charity Commission register in 2000, when it came under the management of this charity. All bjnds collected by them are sent direct lo the UK head office in Bravington Road and are accounted for by this charity and are subject to the Same financial control. The tru5tees' report was approved by the Board of Truslecs. Sr M Imelda Trustee pag¢ 4
MISSIONAIUES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST STATEMENT OF TRUSTEES, RESPONSIBILrrIES FOR THE YEAR ENDED 31 DECEMBER 2024 Thc In]stees are responsible for preparing the Trustee5' Report and the financial statements in accordance with applicable law and Unitcd Kingdom Accounting Standards (United Kingdom Generally Accept¢d Accounting Practice). The law applicable to chai'ilies in England and Wales requires the trustees to prepare financial statements for each fin&ncial year which give a trne and fair view of the state of affairs of ihe charity and of the iThcorning resource5 and application of rcsources of the charity for that year. In preparing these firjancial statements. the tNstees are required to: select suitable accounting policies and then apply them consi5tcntly- - observe the methods and principles in the ch7t]eS SORP. - make judgements and estimates that ore reasonabl¢ and prudent; stare wheth¢r appli¢able accounting StsDdards have been follow¢d, subject to any material departur¢s disclosed and explained in the financial statements. and prepare the financial statcments on the going concern basis unless it is inappropriate to presume that thc charity will continue in operation. The tsuslees are responsible for keeping suffi¢i¢nl accounting records thar disclos¢ with reasonable 8¢curacy at any time the financial position of the charity and enable them to ensurc tha¢ the financial statements comply with the Charities Act 2011, the Charity (A¢¢ounls and Reports) Regulations 2008 and the provistons of the fTUSt d¢¢d. They are also responsible for safeguarding the setS of tbe charity and hence for tthing reasonable steps for the prevention and detection of fraud and other irregularities. pagc 5
MISSIONARIES OF CHARITY OF MOTIIER TERESA OF CALCUTTA TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MISSIONARtES OF CHARrrY OF MOTHER TERESA OF CALCUTTA TRUST Opinion W¢ have audited the financial ststemcnts of Missionaries of Charity of Mother Teresa of Calcutta Tn¢ (th¢ '¢harity'} for the year endcd 31 D¢¢¢mb¢r 2024 which compTtse the stsiemerit of financial activtties. the balance sheet, the statement of cash flows and notes to the financial ststements. including significant accountTng policies. The financial reporting framework that has been applied in their preparation is applicablc law and United Kingdom Accounting Standards, iDcluding Financial Reporting Standard 102 The Financial Reporting Siandard applicable in Ihe UK and Republic of Irelaiid (United Kingdom Generally Accepted Accoiinting Pra¢ti¢e)- In our opinion, the financial statements: give a tnjc and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and applicaliotl of resources, for th¢ year then endcd. have been properly prepared in a¢¢ordance with United Kingdom Generally Accepted Accounting Prn¢tice' and ave been prepared in a¢¢ordance with the Charities Act 2011. Basis for OPiDion We conducied our audit in accordance with International Standards on Auditing (UK) OSAS (UK)) and applicablc law. Our responsibilities under those standards are furthcr described in the Auditor's responsibilities for rhe audii of rhe financial sruiements section of our report. We are independent of the charity in accordance wTth 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 lfilled our other ethical responsibilities in accordance with these requiremenrs. We believe that the audit evidence we have obtained is sufficient and appropriate to provtde a basis for our opinion. Conclusions relating to Eoing concern In auditing the financial statements, w¢ have concluded that the trusc¢¢$' we of thc going ¢on¢ern basis of accounting in the preparation of the financicl1513tncnts is appropriate. Based on the work we have perfonned. we have not identified any material vncertainti¢s relating to events or conditions that, individually or ¢ollectively, may ¢asl significant doubt on the charity's ability lo ¢ontinu¢ as a going concern for a period of at least twelve months from when the ftnancial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect 10 going Concern ar¢ described in the relevant se¢tions of this report. Other infonllation The other infurmation comprises the inforniation included in the annual report otber than th¢ financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial ststemenis does not cover the other information and we do not expr¢ss any forni of a5suran¢¢ conclusion thereon. Our r¢sponsibilily is to read the other infomiation and, in doing 50. consider whetheT the other infonnation is materially inconsistent with the financial statemenls or our knowledge obtsined in the course of the audiL or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whether this gives rise to a material mis5talement tl)c financial statements themselv. If, based on the work we have peTfom¢d, we conclude that there is a material misstatement of this other illlomiation, we aTe required to report that fact. We have xothing to report in this regard. Matters on which we are required to report by exteptlon We have nothing to r¢port in respect of the following matt¢rs in relation to which thc Charities (Accounts and Reports) R¢gulalioDS 2008 r¢quires us to report to you if. in our opinion: the infornyation given in the financial statements is ineonsistent in any material SPect with tbe trustees, report. or sufftcient accountin records have not been kept" or Ihe financial statemcnts are not in agreement with the accounting records" or we have not received all the infonnation and explanations we require for our audiL page 6
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MISSIONAIUES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST Responsibilities of trustee5 As explained more llY in thc stat¢ment of nustees, rcsponsibilities, the trustees are T¢sponsible for the pr¢paTation of the financial statements and for being satisfied that they give a tru¢ and fair vtew. and for such internal control as thc ISte¢S dctcrmine is necessary to enable thc preparation of financial statements that are frce from malcrial misstatement, whether due lo fraud or error. In preparing the financial statements. the trnstees arc responsible for assessing the chariry's ability to continue as a going concern, disclosing. as applicable. raat(eTh related to 80ing concern and using the g02ng concern basis of accounting unless the fnistees either intend to cease operations. or have no realisiic alt¢mativ¢ but to do so. Auditor's r¢sponsibiiitictr for the audit of the finantial statement5 Wc have been appointed as audttor under sectRon 144 of ihe Charities A¢1 2011 and rcport in accordance with the Act and relevant r¢gulalions made or having effect thcrcunder. Our objectives are to obtain reasonable assurance aboui whether the fman¢i81 statements as a whole are free from material misstaternent, whether due to fraud or TOr. and co issue an auditor's report that includes our opinion. Reasonable assuranc¢ is a high level of assurance but 15 not a guarantee thai an audit ¢ondu¢ted in a¢cordan¢e witb ISAS (UK) will always detect a material mis5talement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence the econom£¢ decisions of users tsken on the basis of these finan¢ial siatements. Irregularities, including fraud, are instances of non-compliance with laws and Tegulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding Compliance with laws and regulations That hav¢ a direct effect on the dctemiination of material amounts and di5closur¢s in the financial statem¢nts. to perforn) audit procedures to help idcntify instances of non-compliance with other laws and regulations that may have a material effect on the financial slatements, and to respond appropriately to identified or suspeet¢d non-compliance with laws and regulations identified during Ihe audit. In relation to fraud, Ihe objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due lo fraud, to obrain sufficient appropriate audit eviden¢e regarding the assessed risks of material misstatements due to fraud through designing and implementing appropriate responses and to respond approprialy to fraud or su5PeCted fraud identified during the audit. However il is the primary responsibility of ttWAagemeni, with the oversight of those ¢har8ed with governanc¢. to ensure that the entity's operations are conducted in accordance with (he provisioLs of laws and regulations and for the prevention and detection of fraud. In identifying and assessing the risks of ma*rial misstatement in respect of irregularities. including fraud, th¢ audit engagement team made eJ]quiries of management, and those charged with governance, regarding the prOceduS relating to identifying, eva]uating and complying with. laws and r¢gulations and whether they were aware of any instances of non-compliance. 2. detecting and responding to th¢ risks of fraud and whether they have knowledge of any actual, suspected or alleged the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charitics Act 2011 and the Charities Statement of Rcrommended Practice. W¢ perfornied audit procedures to detect non-compliance. which may have a Tnat¢rial impact on the financial statements. These included reviewing financial statement disclosures and evaluating advice received from external adviso. Thcre were no significant laws and regulations we deemed as havtng an indire¢t impact on the fmancial statements. page 7
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MISSIONARIES OF CHAIUTY OF MOTHER TERESA OF CALCUTTA TRUST The audit engau¢m¢nt team identified the risk of management overTide of controls 3s the area where the financial statements were most susceptible to material Enisstatement duc io frnud. Audit procedures pcrfornied included but were not limit¢d to testing manual journal entrtes and other adjustments and evaluating the rationale in Tclation to any significant, urLusual transactions and transactions entered into outside of the nornial course of business. As a large portiOTk of income is received through legacies. the audit engagement team have highlighted completeness of income as an area of significant risk. Audit procedures perforncd included bul were nor limit-d to. agreeing the balance in the accounts ¢ompared io Ihc Icgacy amount as per the final docurnenta1ion. A further description of our rcsponsibilitics is av1iilablL on the Financial Reporting Council's w¢bsite at.. https:Ilwww.fr¢.org.ukl audRtorsr¢sponsibilities. This dcs¢ription fom)s part of our auditows report. Other matters Your attention is drawn lo the fact that the chariiy has pr¢par¢d financial statemcnts in accordance with A¢counting and Reporting by Charities: Statement of Recommended Practice applicable io charities preparing their accounts in a¢¢ordaiice with the Financial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but h&$ now been withdrawn. Th&s has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Ac¢ountin8 Practice. page 8
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST Use of our report This report is made solely to the charity's trustees. as a body, in accordance with Part 4 of the Chariti¢s (Accounts and Rcports) Regulations 2008. Our audit work h8s been undertaken so that we miJu t state to the charity's truste¢s thos¢ Matte we are required to state to thcm in an auditor's report and for no other pUOSe. To the lI$t extent p¢nnitted by law. we do not accept or assume responsibility to anyone other than the charity and the charity's tnte¢S as a body, for our audit work. for this repo or for the opinions w¢ bavc formed. Richard Place Dobson Servlces Llmited Chartered Accountants Statutory Auditor Ground Floor 1- 7 Ststion Road Crawley West Sussex RHIO IHT Richard Place Dobson Services Limited are eligible for appoincment as auditor of the chlty by virne of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. page 9
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST STATEMENT OF FINANCIAL ACTIVtTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Current finan¢lal year Unrestricted Unrestricted funds fullds general 2024 Restrltted funds Total Totsl 2024 2024 2024 2023 Notes Income from.. Donations and legacies Investments Other income 876,450 31,513 21.053 120,316 996,766 31,513 21,053 2,181,674 l7.923 21,667 Total incom¢ 929,016 120.316 1.049.332 2,221.264 Ex enditiire on: Charitablc activiti Religious services Overseas donaiions 764,317 879,684 764,317 1,000,000 725,844 406,571 120,316 Total ch*rltable expenditure l.644,001 120,316 1,764,317 I,132.415 Othcr 4,856 4,856 Total resources expended 1,648.857 120,316 1,769,173 1,132,415 Net (outgoing)fincom5ng resources before tr#n$fers (719,841) (719,841) 1.088,849 Gross transfers between fvnds (50,000) 50,000 Net (expenditure)/income for the yexrl Net m(tyvement in funds (769,841) 50.000 (719,841) 1,088.849 Fund balances at l January 2024 2.176,304 4,486,943 6,663,247 5.574.398 Fund b8lance5 at 31 December 2024 1,406,463 4.536.943 5.943.406 6.663.247 The statement of financial activities includes all gains and losses regniSed in the year. The statement of financAal activities includes all gains and losses recognised in the year. All income and expenditure d¢riv¢ frotn continuing activities. page 10
MISSIONARIES OF CHARITY OF MOTHER TERESAOF CALCUTTA TRUST STATEMENT OF FINANCIALACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Prior financial year Unrestricted Unrestricted funds funds general 2023 Restrieted funds Total 2023 2023 2023 Notes Income from Donations and lega¢ies Invcstinents Other income 2,176,168 17.923 21.667 5.506 2,181,674 17,923 21.667 Totsl Income 2,215.758 5,506 2.221.264 Ex enditure on: Charitablc actLViti Religious services Overseas donations 725,844 401.065 725,844 406,571 5,506 Total charitable expenditure 1,126,909 5,506 1.132.415 Total re$ource$ expended 1,126,909 5,506 1,132,415 Net (outgoing)/in¢oming resourees before transfer$ 1.088,849 1,088.849 Net (expenditure}lincome for the yearl Net movement in funds 1.088.849 1,088,849 Fund balances at l January 2023 1.087,455 4,486,943 5,574,398 Fund balances at 31 December 2023 2,176,304 4,486,943 6,663,247 page 11
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST BALANCE SHEET ASAT31 DECEMBER 2024 2024 2023 Notes Fixed assets Tangible assets 13 4.682,609 4,564,000 Current assets D¢btor5 Cash al bank and in hand 14 68,983 1,224.992 199.041 1.926.954 1,293,975 2,125.995 Creditors: amounts fallfing due wlthln one year 15 (33,178) (26,748) Net currcnt assets 1,260.797 2.099.247 Total assets le$s current liabilitie5 5.943.406 6,663.247 The funds of the charity Unrestricted nds- general Unr¢stri¢l¢d nds- Desig?naied fvnds 17 1.406.463 4.536.943 2.176.304 4.486,943 5,943,406 6.663.247 The financial statements were approved by the trnslees on . 141(ol.L Sr M Imelda Trustee page 12
MISSIONARIES OF CHAIUTY OF MOTHER TERESA OF CALCUTTA TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash floivs from operiting activities Cash (absorbed by)IgeneTated from operations 20 (52 1.596) 1,004,842 Investing aetivStle$ Purchase of tangible fixed assets Proceeds from disposal of tangible red as5Cts Investment income received (211.979) loo 31,513 {50,719) 17.923 Net cash used in investing aetivlties (180.366) (32.796) Net C#5h generated from fIn8nclng actlvltles Net (decreas¢)/ln¢rea$e In cash and cash equlvalents (701,962) 972,046 Cash and cash equivalents at beginning of year 1.926.954 954,908 Cash and ¢a$h equivalents at end of year 1.224.992 1,926,954 pagc 13
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EJVDED 31 DECEMBER 2024 Accounting policies Charity infomation Missionaries of Charity of Mothu Teresa of Calcutta Tnt is a charity set up under a llvst deed 2nd registered with the ChaTtties Commission in England and Wales. 1.1 Accounting conventlou The financial stalcmcnts have been prepared in accordance with the Charity's governing document. the Charities Act 201 I, FRS I02 'Thc Financial Reporting Stsndard applicable in (be UK and Republic of Irelaiid" {"FRS 102") and the Chariti¢s SOR "A¢¢ounting and Reporting by ChaTitics: Starement of ReCOnnellded Practice applicable to charities preparing tEieir a¢counts in ac¢ord8m¢¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effectiv¢ l January 2019). Th¢ chariry is a Public Benefit Entity as defined by FRS 10? The financial statements have departed from the Charities (Accounts and Rcports) Rc8ulations 2008 oiily to the extent required lo provide a tsije and fair vt¢w. This departure has involved following the Staiement of Recoinmended Praciice for Charitics applyiiig FRS I02 rather than the version of the staMellt of Reeommended Practic¢ which is re[e¢d to in the Regulations but wht¢h has since been withdrawn. The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary amounts Ln these finaiicial staicments are rounded to che nearesi £. The fmancial statements have been prepared under the histori1 cost convention. Th¢ princip81 accounung policies adopted are set out below. 1.2 Going concern At the time of approving the financial ststements, the tsustees have a reasonable expectation that the Charity has adequate resour¢es to conlinue in operational exislence for the foreseeable future. Thus the trnslees continue to adopt the going concern basis of accounting in preparing the financial statwAents. 1.3 Charitable funds Unrestricted funds can be used in accordance with the charitablc objectives at the discretion of the ttvslees. Designated fjjnds are unrestri¢ted funds eatm4rked by the Tnte¢S for particular purposes. Restricted ndS can only bc used for particular rcstri¢t¢d puryoses within the objects of the charity. Restrictions arise when specified by the donor or when funds are Taised for particular restricted putposcs. Funher explanation of the nature and purpose of each fimd is included in the notes to the finan¢ial statements. 1.4 In¢ome All income is recognised in the Siaternent of Ftnaneial Aetivities once the charity has elltitlement to the funds, it is probablc that the income will b¢ e1V¢d and th¢ amoulll can be measured reliably. Donations and similar incoming resources are included in th¢ y¢ar in which th¢y aT¢ r¢¢¢ivable. which is when the charity becomes entitled to the T¢sourc¢. Legacy gifts aTe recognised on a case by cw basis following the granting of probate when the administrator l executor for the estate communicated in wrilttjg both the amount and settlement dat¢. In the event that the gift is in the forn) of an asset other than c&sh or a financial asset traded on a recogni5ed stock exchange. recognition is subject to the value of the gift being reliably measured with a degree of reasonable accurdcy and the litle lo the 85set being transferred to the charity. page 14
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR E2VDED 31 DECEMBER 2024 Accounting policies (Continued) The charity is donated a targc amount of food stuff and various other consumables during the year from well wishers who assist Ibe charity in continuing irs cbarirable works. It is no( possible lo value the aEnount of non cash donations received and a¢¢ordingly these donations in kind are not included in the financial statements. Income from investments which comprises interest ¢¢Ivable is included in the Statement of Financial Activiti¢s. 1.5 Expcnditure Liabilities are recognised as expenditure as soon &$ there is a legal or constrnctive obligation comrnitting the charity 10 that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be rneasured reliably. Expenditure is accounted for on an accnjals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a b&sis consistent wilh Ihe use of resources. Religious servtC¢8 expenditure Tela*s to tb¢ cost of serving the community. Overseas proje¢t expenditure relates to moni&8 s¢nc overseas to be spent on specific charitable projects. Support costs are thos¢ functions that assist the WQTk of the charity but do noi directly undertake charitable activities. Support Losts include audit fees. bonk charges and legal fees. These ¢osts have been allocated bctwcen the different chariiable activities. The bases on which support costs have been allocated arc set out in note 6. 1.6 Tangible fixed assets Tangible fixed assets are inArially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairmeni losses. Land and building5 are shown at cost and have noi been revalued. Tangible fixed assets other than freehold land are stat¢d at costs less depreciation. No depreciation is Charged on freehold propety as the estimated T¢sidual value ¢x¢ccds th¢ cost and any depTeciation charg¢ would be immaterial. The trustees have sct a capitalisation policy of £500. Freehold property Fixtures, fittings & equipment Motor vehicles lQ/th Straight line 15Yo redu¢ing balance 25 /D r¢ducin8 balance The gain or loss aTSsing on the disposal of an asset is determined as the difference between the sale proceeds and the caLrying value of the asset, and is recognised in the statement of financial activities. 1.7 Imp2irment of fixed assets At earh rworting end date, the charity reviews thc ¢arying amounts of its tangible assets to detemine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to d¢tern]ine the extent of the impainnent Ios5 (if any). 1.8 Cash and cash equivalents Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening the deposit or similar accounL pagc 15
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Aceountints polities (Continued) 1.9 Financial instruments The ¢harity only lias financial assets and financial liabilities of a kind that qualify as basic fInan¢ial instrnmenls. Basic finaneial instruments are initially recognised at transaction value and subsequently measured at their seiilement value. Basicfinancial assets Other debtors and prepayments are recognised at the settlement amount due after any trade discount is offered. Basicfinancial liabilities Creditors are recogiiised where the charity ha5 a presetit obligation resulting from a past event that will probably result in (he transfer of fvnds to a thiTd paTty and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due. D¢recognitiott offiiiancial li4bilities Financial liabilities are dett¢ognised when the ¢harity'S contractual obligations expire or are discharged or cancelled. 1.10 Tqxation The ¢harity is exempt from tsx on lis charttable a1vItieS. 1,11 Foreign exchange Transactions in ellette1C8 other than pounds sterling are record at the rates of exchange PVallIng at the d8tes of the transactions. At each reporting end date, moneiary assets and liabilities that are denomiiiat¢d in foreign ¢urr¢ncies are retranslated at the rates prevailing on the reporting end dale. Gains and losses arising on translation in the period are included in profil or loss. Critical accounting estimates gDd judgements The preparation of rhe fmanci81 statements requires tNstees to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance shttt date and the amounts reported for income and expenditure during the year. However, thc nature of estirnation means that &CaL outcomes could differ from those estimates. The main judgemcnts and accounting estimates included in the accounts are: The estimated residual value of fre¢hold property is considered to be An excess of cost therefore depreciation ss not Charged on freehold property. Donations 2nd leg#cÉes Unrestricted funds general 2024 Restricted funds Tot21 Unrestricted fuTh(ts general 2023 Restrieted n(ts Total 2024 Z024 2023 2023 Donations and gift aid Legacies receivable 334,960 54l.490 334.960 661,806 315.369 1,860.799 506 5,000 315,875 I,865,799 120,316 876.450 120,316 996.766 2,176.168 5,506 2,181,674 page 16
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from investments Unrestrictèd Unrestricted funds funds 2024 2023 Interest receivable 31,513 17,923 Other income Ullre$tricted Unrestricted funds funds 2024 2023 Nct gain on disposal of tangible fixed assets Royaltie5 R¢bates 100 12,001 8,952 10,700 10,967 20.953 21,667 pagc 17
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST NOTES TO THE FINANCIAL STATEllffNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charit2ble actiwties Religious servite$ 2024 Overseas donations 2024 Total 2024 Religious services Overseas donations 2023 TotAI 2023 2023 Depreciation and impaiment Rates and water Insurance Light and heat Telephone Postage and stationery Medical Food and household Cloihing Charity relief payments Funeral charges General expenses Repairs and Maintenance Fuel and Trav¢1 ¢xpens¢s Overseas donations 88.514 40,482 27,284 27,562 11,451 16,449 9.685 182,588 6.792 19.995 2,739 104.978 20,097 125.995 88.514 40.482 27,284 27,562 11,451 16,449 9.685 182,588 6.792 19.995 2,739 104.978 20,097 125,995 1.000,000 61.851 40.363 26,070 22,342 9,475 11,933 9,196 210,283 11.305 18.289 173 123.074 19.767 120.343 61,851 40.363 26,070 22,342 9,475 11,933 9.196 210,283 11,305 l8,289 173 123,074 19,767 120.343 406.571 1,000,000 406,571 684.611 1.000.000 I,684.611 684,464 406,571 1.091,035 Share of support costs (see no(e 7) Share of gov¢man¢¢ costs (see note 7) 1,413 1.413 1,721 ,721 78,293 78,293 39,659 39,659 764,317 1,000,000 1,764,317 725,844 406,571 1,132,415 Analysis by fund Unrestricted ndS - general Restricted ndS 764.317 879,684 120,316 1,644.001 120.316 725.844 401,065 5.506 I.I26,909 5,506 764.317 1,000.000 1.764.317 725,844 406,571 1,132,415 pag¢ 18
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST NOTES TO THE FINANCIAL STATEMENTS (cowfINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support ¢osts allocated to activities 2024 2023 Bank charges Governance costs 1,413 78.293 1,7?I 39,659 79,706 41,380 Analysed between: Charitable activities 79,706 41.380 Net movement in funds 2024 2023 The nel movement in fLLn(18 is stated after chaTgingl(crediting): Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed asscts Loss on disposal of tangible fixed assets 17,820 88.514 4.756 61,851 Trustees None of the ISte¢S (or any persons connected with them) received any remuneration during the year or were reimbursed any expenses during the year. The lrnstees are hoiv¢ver also members of th¢ ¢ommunity. Members of the Mmunity are maintained by the charity and pr¢mis¢s. m¢als and oth¢r living ¢xp¢nses ar¢ paid by th¢ chariiy 10 Employees The charity does not employee any staff li Other expenditure Unrestricted Unrestricted ruuds funds 2024 2023 Net loss on disposal of tan1)1¢ fixed assets 4.856 12 Taxation The Charity is exempt from tsxation on its activities because all its xncome is applied for charitable purposes. page 19
MISSIONARIES OF CHAIUTY OF MOTHER TERESA OF CALCUTTA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Tangible fixed assets FeOId Fixtures, fittiogs Motor vehicles property & equipmenl Totil Cost At l January 2024 Additions Disposals 4.367.519 782.669 161,749 104.819 50.230 {49.l79) 5,255.007 211.979 (49,179) At 31 December 20?4 4.367.519 944.418 105.870 5,417.807 Depreelation and imp2irment At l January 2024 Depreciation ¢harged in the year Eliminated in respect of disposals 130,576 481.964 69,368 78.467 19,146 (44.323) 691,007 88,514 (44,323) At 31 December 2024 130,576 551,332 53,290 735,198 Carrying amount At 31 December 2024 4,236.943 393,086 52,580 4,682,609 At 31 December 20?3 4.236.943 300.705 26,352 4,564,000 14 Debtors 2024 2023 Amounts falling due within one year: Other debtors Prepayments and accrued income 39,358 29.625 168,915 30,126 68.983 199,041 15 Creditors: amounts falling due within one year 2024 2023 Arcruals and d¢ferr¢d income 33,178 26,748 page 20
MISSIONARIES OF CIIARITY OF MOTHER TERESA OF CALCUTTA TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific condition5 by donors as to how they May be uscd. Movement in funds Incomlng Resources Balance at r¢souree3 txpended l January 2024 Movement in funds In¢omin# Resources BalaD¢¢ at resourtts eyp¢nded JI December 2024 B#l*rtce at I JAnu#ry 2023 Specified dona(ions 5,506 (5.506) 120,316 {120,316) 5,506 (5,506) 120.316 (120.316) Specified donations are thosc where the donor has requested the proceeds b¢ transferred to a chosen country or organisation. Such donations arc transferred without delay io the chosen deslinalion. 17 Designated fund$ The income funds of the charity in¢lud¢ the following designated funds which hav¢ been set aside out of wirestricted funds by the trustees for specifi¢ puwjses: Movement In funds IDcomlng Balanc¢ St resourcu l January 2024 Balance ai l January 2023 Transfers Balance at 31 Dgcembor 2024 Propety nd Renovation nd 4236,943 250.000 4,236,943 250,000 4,236,943 300,000 50.000 4.486.943 4,486.943 50.000 4,536.943 The Property nd represents the fiu]ds necessarily set asidc for the charity's ocGupalion of the land and buildings. The Renovation fund represents funds set &8idc to undertake renovation work at the various houses. page21
MISSIONARIES OF CHARITY OF MOTHER TERESA OF CALCUTTA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 18 Analysis of net assets between funds Unrestricted Designated fund$ funds 2024 2024 Restricted funds 2024 Total 2024 Fund ba]ances at 31 Decemb¢r 2024 are represented by.. Tangible assets cueftt assetsl(liabilities) 395.666 I.010.797 4,286.943 250,000 4,682.609 1.260.797 1.406.463 4,536,943 5,943.406 Unrestricted Designated fijnds funds 2023 2023 Restriotcd nds 2023 Total 2023 Fund balances at 31 December 2023 are represenlcd by.. Tangible assets Current ass¢ts/(liabilitics) 327,057 1,849,247 4.236.943 250,000 4,564,000 2,099,247 2.176.304 4,486,943 6,663,247 19 Relgted party transactlons There were no disclosable related party transa¢tions during the year (2023 - nonc). 20 Cash (Absorbed by)Igenerat¢d from operations 2024 2023 (Deficit)lsurplus for the year (719,841) 1.088.849 Adjustments for: Investment income r¢cognised in statement of financial activities Loss on disposal of tangibl¢ fixed assets Depreciation and impaiThnent of tangible fixed assets (31.513) 4,756 88.514 (l7,923) 61,851 Movemenls in workino capital: Decreasel(inGTea5e) iii debtors Increase in creditors 130.058 6,430 (128.029) 94 Cash (absorbed by)Igenerated from operations (521,596) 1,004,842 21 AnAlysi$ of change5 in net funds The charity had no material debt during the year. page 22