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2023-12-31-accounts

Charity Registration No. 1075608

MARIAN FATHERS CHARITABLE TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

MARIAN FATHERS CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Fr Tadeusz Marian Byczkowski
Fr Andrzej Gowkielewicz
Fr Wiktor Gumienny
Fr Jacek Jaroslaw Rygielski
Fr Lukasz Marcin Mazurek (Appointed 1 June 2023)
Fr Eugeniusz Zarzeczny (Appointed 1 June 2023)
Fr Dariusz Mazewski (Resigned 1 June 2023)
Fr Tomasz Adam Nowaczek (Resigned 1 June 2023)
Charity number 1075608
Principal address 1 Courtfield Gardens
Ealing
London
W13 0EY
Auditor Kendall Wadley LLP
Granta Lodge
71 Graham Road
Malvern
Worcestershire
WR14 2JS
Bankers Barclays Bank plc
53 The Broadway
London
W5 5JG
Bank of Scotland plc
33 Old Broad Street
London
EC2N 1HZ
Solicitors Pothecary Witham Weld
70 St George's Square
London
SW1V 3RD
Investment advisors CCLA
One Angel Place
London
EC4R 3AB
Insurance broker DE Ford
Poppleton Grange
Low Poppleton Lane
York
YO26 6GZ

MARIAN FATHERS CHARITABLE TRUST

CONTENTS

Page
Trustees' report 1 - 8
Statement of trustees' responsibilities 9
Independent auditor's report 10 - 12
Statement of financial activities 13
Balance sheet 14
Statement of cash flows 15
Notes to the financial statements 16 - 27

MARIAN FATHERS CHARITABLE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their report and accounts for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Trust Deed, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019)

Objectives and activities

Principal Objects

The principal objects of the charity are as declared in the Trust Deed dated 22nd March 1999 "for the advancement of the Roman Catholic Religion as the Trustees shall from time to time with the consent of the Provincial think fit" (Clause 3 of the Trust Deed).

The long-term strategies set to achieve these objects are to ensure that the life of the Catholic Community and especially those faithful who rely on the pastoral ministry of the Marian Fathers Congregation is well supported and responsive to changing requirements and to generate and maintain sufficient reserves to ensure the longterm future of the charity.

Significant activities

These objects are promoted among both the Polish faithful living in the United Kingdom and worldwide and other ethnic groups through pastoral, spiritual and financial support. In achieving these aims the Charity works closely in co-operation with the Congregation of Marian Fathers worldwide, particularly with the Polish Province of the Congregation of Marian Fathers and also with the Polish Catholic Mission in England and Wales, and with the diocesan Bishops of England and Wales.

These objectives have been achieved principally by:

The recipients of charitable aid are not only parishioners and members of the Apostolate of Divine Mercy, i.e. the Association of Marian Helpers, but also recipients of aid from many organisations supported by the charity through contributions.

MARIAN FATHERS CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Public Benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The Charities Act 2006 requires charities to describe the benefit which is provided to the public. The Charity Commission has commented that "religion helps to provide a moral and ethical framework for people to live by and can play an important part in building social capital and community cohesion". The advancing of the Catholic faith and formation and spiritual support given to the people ministered by the Marian Fathers have many public benefits. It provides an ethical and moral code for society; it provides services of worship, public rituals and ceremonies; it contributes to the spiritual well-being of the public; it contributes to practical ways of addressing social needs and furthering other charitable purposes.

Achievements and performance

Marian Helpers Centre / Divine Mercy Apostolate

The Divine Mercy Apostolate of the Marian Fathers Charitable Trust is a community of the Christian faithful, gathered freely in order to attain spiritual benefits and charitable activity of the Church.

The purpose of the Association is:

Membership in the Divine Mercy Apostolate is open to all the faithful - clergy, religious and laity - who in the spirit of the Marian Fathers, desire to more fully seek its assistance in striving towards Christian perfection. The Apostolate accepts members on a perpetual or temporary basis and admits others to share in the spiritual fruits of the Holy Masses, prayers, and good works of the Marian Fathers. The Divine Mercy Apostolate organizes spiritual retreats and conferences. Services include the enrolment in the Association, novenas throughout the year, a mail order catalogue, overseas pilgrimages, and a variety of publications which inform members about the work of the Marians while promoting devotion to Divine Mercy and the Blessed Virgin Mary.

Publishing activity

In 2023, the Apostolate published and distributed, together with prayer appeals and formation materials, approximately 67,000 leaflets related to the message of Divine Mercy and other important religious events.

MARIAN FATHERS CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Novenas and appeals

In 2023, the following novenas and appeals were sent out to our members: Novena for the Sick 2 -10 February

Novena to St Joseph 10 - 18 March Novena to Divine Mercy 14-22 April Devotion to Our Lady in May Devotion to the Most Sacred Heart of Jesus in June Devotion to the Precious Blood of Jesus in July Novena of the Assumption of the BVM 6 - 14 August Novena to St Faustina 26 September- 4 October Holy Rosary in October Holy Souls Appeal in November 2023 Christmas Novena in December Christmas Card Appeal Lottery Draw - Assumption of the BVM Lottery 15 August Christmas Lottery Draw in December

MARIAN FATHERS CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Pastoral activities

Retreats to Divine Mercy 2023 were held in the following parishes and communities in the UK.

In addition, the director of the Divine Mercy Apostolate led retreats in Poland, which included the formation of both lay people and clergy in the Church.

In addition, throughout the year, First Friday Services are held at Our Lady the Mother of the Church RC Parish, Ealing, and are regularly attended by 50-60 people. The programme includes adoration of the Blessed Sacrament, the Holy Rosary, the Hour of Mercy and Holy Mass. First Saturday Services are held at the Divine Mercy Apostolate Chapel, West Ealing, and include a Day of Prayer with Our Lady. The programme includes morning and evening prayer, the Holy Rosary, Holy Mass, a conference and the Hour of Mercy. Usually around 50 people attend.

Charitable activities

Thanks to the dedication of the Marian Helpers, the Apostolate could support the following charitable activities:

MARIAN FATHERS CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Ealing Religious House and the Parish

In 2023, the Marians from the religious house in Ealing, London, has continued to provide pastoral care to the faithful from the community of Polish immigrants and other ethnic groups. Priests have made every effort to provide regular services on Sundays, weekdays and ordained days, as well as additional service for a group of parishes in the number of needs.

In 2023, it was still possible to see people returning to regular church attendance after the pandemic. Interest in online services dropped significantly. The average number of identifying engagement factors in Sunday Masses adjacent to about 2500. The broadcast of the Holy Mass is conducted only once a week and during special events.

The economic situation in the country after Brexit has forced many of our Parishioners to leave the UK. It is also worth noting that the number of new members is decreasing. 26 children received the sacrament of baptism. An additional 95 children were called to First Holy Communion, and 100 young adults received the Sacrament of Confirmation. 25 couples took part in premarital courses.

The sick and the elderly were also covered with pastoral care. They were visited by the Marians in their homes, hospitals and care homes (the hospital chaplain did not speak Polish).

In the parish church, priests held 30 funeral services. In addition, they accompanied 15 services at the crematorium. Priests also visited 350 families during their annual pastoral visit (January to March). Three rounds of retreats, processions in cemeteries and two festivals for children (Holy wings and Christmas Theatre) were organized during the year.

In connection with the celebration of the 350th anniversary of the Marian Fathers, a series of lectures was held in the branch. We repeated the series of thematic catechesis and put many videos on our website. In addition, weekly readings and podcasts were published on the website. An important accents were Religious Knowledge Courses (online) in cooperation with the John Paul II Catholic University of Lublin.

The Marians and the Polish Parish were still very much involved in humanitarian aid to the victims of the war in Ukraine. As part of its charitable assistance of missionaries, the Parish financed the translation into the native language and publication of the Catechism of the Catholic Church in Rwanda.

Initiatives launched last year are popular and developing. On every third Wednesday there are special prayers, catechesis and a meeting for people who are experiencing the loss of children and have problems with conceiving a child. In cooperation with the Tato.Net association, a father's club operates. These meetings are for men who want to gain education in the field of raising children and dialogue in the family. The club meets regularly once a month and organizes conferences for men. Restaurant “Lubczyk” still receive guests 6 days a week. The place is friendly to families with children and people with disabilities. The restaurant is also used by parishioners as a place to gather people and common celebrations.

Throughout the year, volunteers and youth from the neighbouring Polish Parish helped initiate the functioning of

a new youth group - Oasis.

10[th] day of October, in cooperation with Divine Marcy Apostolate was organised Divine Mercy Retreat with Fr. Chris Alar, MIC from USA.

Despite the reduction in donation revenues, it was possible to carry out major renovations: cleaning and renovation of the church tower, refreshing the floor in the church and a thorough renovation of the toilet.

MARIAN FATHERS CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Prayer and formation groups in the parish:

Support, formation and prayer groups:

• Alcoholics Anonymous, Drug Addicts Anonymous, Adult Children of Alcoholic Parents, Gamblers Anonymous, Sex Addicts Anonymous

Liturgical groups:

Financial review

Total income for the year amounted to £350,787 (2022: £302,991).

Total expenditure amounted to £302,805 in comparison to £394,686 in the prior year.

Overall the net movement in funds amounted to a surplus of £48,959 (2022: deficit of £91,096).

Total reserves held by the charity at the year end amounted to £4,266,820 (2022: £4,217,861), £8,495 relating to restricted funds and £4,257,875 to unrestricted funds.

Free reserves held by the charity at the year end, which are unrestricted funds after making allowances for tangible fixed assets and investments amounted to £608,604 (2022: £1,041,783).

Reserves Policy

The Trustees are of the opinion that the retained reserves are adequate for the furtherance of its aims of offering pastoral and spiritual support among the faithful and the maintenance of its properties.

Investment Policy

The trustees have considered the most appropriate policy for investing funds and has found that a combination of high interest bank accounts and COIF accounts meets their requirement for both income and capital growth.

Grant making policy

Grants are awarded at the discretion of the trustees to institutions and to individuals for financial hardship. The total number of individual grants cannot be ascertained, as they are generally for financial hardship and detailed information of recipients is not available.

Risk factors

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

MARIAN FATHERS CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Protection Policy

The Marian Fathers Charitable Trust is committed to the safeguarding (child protection) policies of the Catholic Church in England and Wales, to protect children and young people from neglect, physical, emotional and sexual abuse and to promote a safe environment for them. This commitment flows from the fact that we are all made in the image of God and the Church’s common belief in the dignity and uniqueness of every human life.

The Trust starts from the principle that each child has a right to expect the highest level of care and protection, love, encouragement and respect that we can give.

The Trust will liaise closely with statutory agencies to ensure that any allegations of abuse that may occur are promptly reported and properly dealt with, victims supported and perpetrators held to account.

Risk Management

Many operational risks, including health and safety, are covered by insurance and security systems which are regularly reviewed by the Trustees. Financial risks are managed by budgets and internal financial procedures.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for the future

The main aims for the coming year are:

MARIAN FATHERS CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Structure, governance and management

The full name of the charity is 'Marian Fathers Charitable Trust'. The charity is governed by the Trust Deed dated 22 March 1999.

Trustees are appointed and removed by the Provincial as defined by Clause 2(c) of the Trust Deed. They are ultimately responsible for the policies, activities and assets of the charity and setting the remuneration of key personnel.

The trustees receive training at trustees' meetings, as is deemed appropriate. All decision making is at the discretion of the trustees.

The trustees who served during the year were: Fr Tadeusz Marian Byczkowski Fr Andrzej Gowkielewicz Fr Tomasz Adam Nowaczek (Resigned 1 June 2023) Fr Dariusz Mazewski (Resigned 1 June 2023) Fr Wiktor Gumienny Fr Jacek Jaroslaw Rygielski Fr Lukasz Marcin Mazurek (Appointed 1 June 2023) Fr Eugeniusz Zarzeczny (Appointed 1 June 2023)

Auditor

In accordance with the company's articles, a resolution proposing that Kendall Wadley LLP be reappointed as auditor of the company will be put at a General Meeting.

On behalf of the board of trustees

Fr Lukasz Marcin Mazurek

Chairman of the Trust Dated: 18 October 2024

MARIAN FATHERS CHARITABLE TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

MARIAN FATHERS CHARITABLE TRUST

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF MARIAN FATHERS CHARITABLE TRUST

Opinion

We have audited the financial statements of Marian Fathers Charitable Trust (the ‘charity’) for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the 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 with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the 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 statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, 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 in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

MARIAN FATHERS CHARITABLE TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MARIAN FATHERS CHARITABLE TRUST

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements 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 misstatement, 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 concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement 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 economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Audit response to risks identified

It should be noted that Auditing standards limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

MARIAN FATHERS CHARITABLE TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MARIAN FATHERS CHARITABLE TRUST

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. 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 auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Sarah Morley BA (Hons) ACA (Senior Statutory Auditor) for and on behalf of Kendall Wadley LLP

18 October 2024

Chartered Accountants Statutory Auditor

Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS

Kendall Wadley LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

MARIAN FATHERS CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations
3
122,616
240
Charitable activities
4
180,031
-
Other trading activities
5
17,213
-
Investments
6
30,464
-
Other income
223
-
Total income
350,547
240
Expenditure on:
Raising funds
7
22,062
-
Charitable activities
8
280,743
-
Total expenditure
302,805
-
Net gains on
investments
14
977
-
Net movement in funds
48,719
240
Fund balances at 1
January 2023
4,209,156
8,705
Fund balances at 31
December 2023
4,257,875
8,945		 Total Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
122,856
127,708
240
180,031
149,953
-
17,213
14,568
-
30,464
10,349
-
223
173
-
350,787
302,751
240
22,062
18,067
-
280,743
376,619
-
302,805
394,686
-
977
679
-
48,959
(91,256)
240
4,217,861
4,300,412
8,465
4,266,820
4,209,156
8,705		 Total
2022
£
127,948
149,953
14,568
10,349
173
302,991
18,067
376,619
394,686
679
(91,016)
4,308,877
4,217,861

MARIAN FATHERS CHARITABLE TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible assets
16
Investments
17
Current assets
Stocks
19
Debtors
20
Cash at bank and in hand
Creditors: amounts falling due within
one year
21
Net current assets
Total net assets
The funds of the charity
Restricted income funds
23
Unrestricted funds		 2023
£
£
3,643,923
5,348
3,649,271
8,331
21,002
1,004,225
1,033,558
(416,009)
617,549
4,266,820
8,945
4,257,875
4,266,820		 2022
£
£
3,163,002
4,371
3,167,373
4,000
13,788
1,423,367
1,441,155
(390,667)
1,050,488
4,217,861
8,705
4,209,156
4,217,861		 2022
£
£
3,163,002
4,371
3,167,373
4,000
13,788
1,423,367
1,441,155
(390,667)
1,050,488
4,217,861
8,705
4,209,156
4,217,861
3,167,373
1,050,488
4,217,861
8,705
4,209,156
4,217,861

The financial statements were approved by the trustees on 18 October 2024

Fr Lukasz Marcin Mazurek Chairman of the Trust

MARIAN FATHERS CHARITABLE TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
28
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash used in investing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
£
48,751
(498,355)
30,462
(467,893)
(419,142)
1,423,367
1,004,225		 2022
£
£
(38,102)
(612,778)
10,349
(602,429)
(640,531)
2,063,898
1,423,367

MARIAN FATHERS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Company information

Marian Fathers Charitable Trust is a registered charity in England and Wales (charity number: 1075608).

The principal office is 1 Courtfield Gardens, Ealing, London, W13 0EY.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019) and the Charities Act 2011.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

Marian Fathers Charitable Trust meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially measured at historic cost or transaction value, unless otherwise stated in the relevant accounting policy.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties about its ability to continue. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

All expenses are accounted for on an accruals basis. Liabilities are recognised when they are incurred.

Costs of generating funds comprise those costs directly attributable to raising funds through activities.

MARIAN FATHERS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Direct charitable expenditure includes all overhead costs in supporting the direct charitable activities.

Governance costs comprise those costs not already deemed as overhead costs and not associated with achieving the direct charitable activities.

Grants payable and receivable are accounted for respectively on payment or receipt.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Freehold land and buildings no charge Fixtures, fittings & equipment 25% on net book value Motor vehicles 25% on cost and 20% net book value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

FRS102 requires that provision be made for depreciation of fixed assets having a finite life. However, the Trustees are of the opinion that the residual value at the end of the estimated useful life of the freehold buildings is likely to be considerably more than the cost. Therefore, any element of depreciation is considered to be immaterial and no provision is made.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine 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 determine the extent of the impairment loss (if any).

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

1.11 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

MARIAN FATHERS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.12 Liabilities

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt amount it has received as advanced payments for good and services it must provide.

1.13 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.14 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16 Foreign exchange

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the SOFA.

1.17 Property leasing

The charity leases a number of its properties to other organisations on an operating lease basis. Total rents receivable are as detailed in the accounts.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying 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 revision and future periods where the revision affects both current and future periods.

3 Income from donations

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Donations and gifts 122,616 240 122,856 127,708 240 127,948

MARIAN FATHERS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

4 Charitable activities

**Mass stipends ** Other religous
Rental income		 Total **Mass stipends ** Other religous
Rental income		 Total
income 2023 income 2022
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £ £ £
Income from; 32,538 79,557 67,936 180,031 30,512 58,631 60,810 149,953

MARIAN FATHERS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

5 Other trading activities

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Charity draw 5,416 4,786
Sale of religious goods 11,797 9,782
Other trading activities 17,213 14,568

6 Income from investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Income from listed investments 207 167
Interest receivable 30,257 10,182
30,464 10,349

7 Raising funds

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Functions 9,852 5,784
Cost of religious goods 11,140 10,883
Charity draw 1,070 1,400
22,062 18,067

MARIAN FATHERS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

8 Charitable activities

Costs of
activities
Charitable
grants and
donations
Contribution
to Polish
Province
£
£
£
Staff costs
27,932
-
-
Depreciation and impairment
16,936
-
-
Rates
12,722
-
-
Light and heat
31,567
-
-
Insurance
9,862
-
-
Repairs and maintenance
21,370
-
-
House and garden maintenance
16,197
-
-
Books and magazines
2,119
-
-
Printing, postage and stationery
14,923
-
-
Telephone and communications
3,525
-
-
Motor expense
5,835
-
-
Travelling expenses
30,175
-
-
Fathers' expenses
29,164
-
-
Mass stipends
11,450
-
-
Legal and professional
9,015
-
-
Sundry
849
-
-
Bank Charges
2,170
-
-
(Profit)/Loss on foreign currency
(14)
-
-
Stock movement
(4,331)
-
-
Polish Province contributions
-
-
-
Computer costs
8,799
-
-
Loss on disposal of fixed assets
500
-
-
250,765
-
-
Grant funding of activities (see note 9)
-
13,036
-
Share of governance costs (see note
10)
16,942
-
-
267,707
13,036
-
Analysis by fund
Unrestricted funds
267,707
13,036
-
267,707
13,036
-
For the year ended 31 December 2022
Unrestricted funds
230,989
14,145
131,485
230,989
14,145
131,485		 Total
2023
£
27,932
16,936
12,722
31,567
9,862
21,370
16,197
2,119
14,923
3,525
5,835
30,175
29,164
11,450
9,015
849
2,170
(14)
(4,331)
-
8,799
500
250,765
13,036
16,942
280,743
280,743
280,743		 Total
2022
£
30,986
21,630
5,963
15,995
8,733
13,675
7,200
3,124
17,646
4,692
8,105
17,319
28,578
3,600
13,208
958
1,926
(31)
(1,300)
131,485
9,878
160
343,530
14,145
18,944
376,619
376,619
376,619

MARIAN FATHERS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

9 Grants payable

Grants payable
Unrestricted Unrestricted
Funds Funds
2023 2022
£ £
Grants to institutions 9,300 1,000
Grants to individuals 3,736 13,145
13,036 14,145
Grants to institutions
Congregation of Poland 9,100 -
St. George's Cathedral 200 -
Polish Catholic Church - 1,000
Total grants to institutions 9,300 1,000

10 Support costs

Support
costs
Governance
costs
£
£
Audit fees
-
11,200
Accountancy
-
5,742
-
16,942
Analysed between
Charitable activities
-
16,942		 2023
£
11,200
5,742
16,942
16,942		 2022 Basis of allocation
£
10,700 Governance
8,244 Governance
18,944
18,944

11 Auditor's remuneration

The analysis of auditor's remuneration is as follows:
Fees payable to the company's auditor and associates:
Audit of the company's annual accounts
Total audit fees
Non-audit services
Total non-audit fees		 2023
£
11,200
11,200
5,472		 2022
£
10,700
10,700
8,244

MARIAN FATHERS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

12 Trustees

The Trustees of the Marian Fathers Charitable Trust have taken vows of poverty under which they have renounced all personal rights to income and capital. The Charity provides for the essential needs of all Trustees of the Marian Fathers Charitable Trust. The living costs of the Trustees are therefore borne by the charity.

13 Employees

Number of employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Employees 1 1
Employment costs 2023 2022
£ £
Wages and salaries 27,300 29,875
Other pension costs 632 1,111
27,932 30,986

All employees are considered to be key management personnel.

There were no employees whose annual remuneration was £60,000 or more.

14 Net gains/(losses) on investments

2023 2022
£ £
Revaluation of investments 977 679

15 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

MARIAN FATHERS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

16 Tangible fixed assets

Freehold land
and buildings
Assets under
construction
£
£
Cost or valuation
At 1 January 2023
2,231,067
858,080
Additions
-
496,765
Disposals
-
-
At 31 December 2023
2,231,067
1,354,845
Depreciation and impairment
At 1 January 2023
-
-
Depreciation charged in the year
-
-
Eliminated in respect of disposals
-
-
At 31 December 2023
-
-
Carrying amount
At 31 December 2023
2,231,067
1,354,845
At 31 December 2022
2,231,067
858,079		 Fixtures,
fittings &
equipment
£
162,485
1,590
(27,083)
136,992
145,173
4,585
(26,583)
123,175
13,817
17,311		 Motor
vehicles
£
99,337
-
-
99,337
42,792
12,351
-
55,143
44,194
56,545		 Total
£
3,350,969
498,355
(27,083)
3,822,241
187,965
16,936
(26,583)
178,318
3,643,923
3,163,002

On transition to FRS102 the Trustees adopted the cost model for recognising the freehold properties of the Marian Fathers Charitable Trust.

17 Fixed asset investments

Listed
investments
£
Cost or valuation
At 1 January 2023 4,371
Valuation changes 977
At 31 December 2023 5,348
Carrying amount
At 31 December 2023 5,348
At 31 December 2022 4,371
18 Financial instruments 2023 2022
£ £
Carrying amount of financial assets
Investments measured at fair value 5,348 4,371

MARIAN FATHERS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

19
Stocks
Finished goods and goods for resale
20
Debtors
Amounts falling due within one year:
Prepayments and accrued income
21
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals
22
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2023
£
8,331
2023
£
21,002
2023
£
393
2,184
393,008
20,424
416,009
2023
£
632		 2022
£
4,000
2022
£
13,788
2022
£
393
2,771
365,245
22,258
390,667
2022
£
1,111

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

23 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January Income At 31
2023 December
2023
£ £ £
Saint Faustina Fund 8,705 240 8,945

MARIAN FATHERS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

23 Restricted funds (Continued)
Previous year: At 1 January Income At 31
2022 December
2022
£ £ £
Saint Faustina Fund 8,465 240 8,705

Saint Faustina Fund - this fund represents monies received for the planning and development of 1 Courtfield Gardens.

24 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2023
2023
£
£
At 31 December 2023:
Tangible assets
3,643,923
-
Investments
5,348
-
Current assets/(liabilities)
608,604
8,945
4,257,875
8,945
Unrestricted
Restricted
funds
funds
2022
2022
£
£
At 31 December 2022:
Tangible assets
3,163,002
-
Investments
4,371
-
Current assets/(liabilities)
1,041,783
8,705
4,209,156
8,705		 Total
2023
£
3,643,923
5,348
617,549
4,266,820
Total
2022
£
3,163,002
4,371
1,050,488
4,217,861

25 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

26 Consolidation

Marian Fathers Charitable Trust consolidated accounts comprise of the following:

MARIAN FATHERS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

27 Auditors' Ethical Standards

The relevant circumstances requiring disclosure in accordance with the requirements of APB Ethical Standard - Provisions Available for Small Entities are that, in common with many charities of our size and nature we use our auditors to assist in the preparation of the accounts.

28 Cash generated from operations 2023 2022
£ £
Surplus/(deficit) for the year 48,959 (91,016)
Adjustments for:
Investment income recognised in statement of financial activities (30,464) (10,349)
Loss on disposal of tangible fixed assets 500 -
Fair value gains and losses on investments (977) (679)
Depreciation and impairment of tangible fixed assets 16,936 21,630
Movements in working capital:
(Increase) in stocks (4,331) (1,300)
(Increase) in debtors (7,214) (1,893)
Increase in creditors 25,342 45,505
Cash generated from/(absorbed by) operations 48,751 (38,102)

29 Analysis of changes in net funds

The charity had no material debt during the year.