2025-11-30-accounts - Friends Of The Ordinariate Of Our Lady Of Walsingham

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Company registration number 07680821 (England and Wales) Charity registration number 1142667 (England and Wales)

FRIENDS OF THE ORDINARIATE OF OUR LADY OF WALSINGHAM

(A COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

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FRIENDS OF THE ORDINARIATE OF OUR LADY OF WALSINGHAM (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	P E Sefton-Williams (Chairman)
	M J Hodges
	The Revd Fr N Leviseur
	R Cleary
	Msgr V G Brady
	B C K Fowler
	Msgr K Newton
	The Revd Fr R Biggerstaff	(Appointed 4 June 2025)
	N C Ollivant
Charity number	1142667
Company number	07680821
Registered office	24 Golden Square
	London
	England
	W1F 9JR
Independent examiner	Affinia
	3rd Floor
	Chancery House
	St Nicholas Way
	Sutton
	Surrey
	SM1 1JB
Solicitors	Hunters
	9 New Square
	Lincoln's Inn
	London
	WC2A 3QN

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FRIENDS OF THE ORDINARIATE OF OUR LADY OF WALSINGHAM (A COMPANY LIMITED BY GUARANTEE) CONTENTS

	Page
Trustees' report	1 - 3
Independent examiner's report	4
Statement of financial activities	5
Balance sheet	6
Notes to the financial statements	7 - 11

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FRIENDS OF THE ORDINARIATE OF OUR LADY OF WALSINGHAM (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 30 NOVEMBER 2025

The trustees present their annual report and financial statements for the year ended 30 November 2025.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the Charity's Articles of Association, the Companies Act 2006 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 2016).

Objectives and activities

The objective of the Charity is to advance the Roman Catholic faith by supporting, in particular, the Personal Ordinariate of Our Lady of Walsingham which was established by Pope Benedict XVI to allow Anglicans to enter into the full communion of the Catholic Church whilst retaining much of their Anglican heritage.

The trustees have paid due regard to the Charity Commission guidance in ensuring that the Charity’s activities give due regard to public benefit.

Achievements and performance

Between 1st December 2024 and 30th November 2025 there were three Board meetings on: 29th January 2025, 4th June 2025 and 24th September 2025. The Board has agreed to hold three Board meetings each year.

Chief Grants

Chief Grants given by the Charity during the financial year ended 30th November 2025 were:

£1,000 for a laptop for a seminarian

£1,000 towards the cost of an Ordinariate banner

£1,000 for Christmas grants to two seminarians

£1,500 for the acquisition of vestments from a retired Ordinariate priest

£8,500 towards temporary rental costs for an Ordinariate priest and his family

£1,800 towards the restoration of a throne for Ordinariate Bishop Rt. Revd. David Waller

£2,300 for the flight costs and accommodation for an Ordinariate priest studying for a doctorate in Vienna

(Note: An updated version of the FOTO Grants Policy was approved at the Board meeting on 24th September 2025.)

The chief costs during this year were as follows:

Arque Consulting (bookkeeper): £1,840 Affinia (formerly known as Clarkson Hyde): £3,006 The Newsletter (one edition): £5,129

£3,500 was spent on the reprinting and mailing of a special anniversary section published in the Catholic Herald in 2024. This was done with the permission of the Catholic Herald. The special section celebrated the 300th anniversary of the creation of the chapel in 1724 behind the Portuguese Embassy. This chapel was rebuilt in 1789/90 as the Church of St Gregory (later being known as the Church of Our Lady of the Assumption & St Gregory). It is now the Central Church of the Ordinariate of Our Lady of Walsingham.

A reception in the throne room of Archbishop’s House, Westminster £5,000

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FRIENDS OF THE ORDINARIATE OF OUR LADY OF WALSINGHAM (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2025

Activities

On Sunday 20th January the Ordinariate banner, part-sponsored by FOTO, was blessed by the Rt. Revd. Bishop David Waller, Bishop of the Personal Ordinariate of Our Lady of Walsingham.
On Thursday 10th April FOTO sponsored the music for the first Chrism Mass by Bishop Waller.
The chief event of the year was the reception held on Wednesday 14th May in the Throne Room of Archbishop’s House, Westminster, to allow Bishop Waller to meet friends and benefactors of FOTO. Among the guests were Vincent Cardinal Nichols, His Excellency the Papal Nuncio, Sir Julian Brazier, Sir Bill Cash CH, Lord Craigmyle, Sir Bernard de Hoghton Bt DL, The Squire de Lisle, The Rt Hon Sir Ian Duncan-Smith PC MP, Georgina Duchess of Norfolk, the Rt Hon Sir Jacob and Lady Rees-Mogg.

Financial review

In the year ending 30th November 2025 the Friends of the Ordinariate generated revenue of £44,874. Funds were received from a large number of regular donors, from a small number of larger, one-off gifts and from Gift-Aid. During 2024-2025 the value of the charity’s investments decreased by £8,446..

Fundraising costs were £15,373 and the costs of administration and support amounted to £5,843. The trustees believe that the majority of the Charity's costs are of a fixed nature, meaning that future revenue growth should not be matched by an equivalent increase in costs. The net reserves at the end of the year were £346,501 a decrease of 2% compared with reserves at 30th November 2024.

It is the policy of the Charity that funds which have not been designated for a specific use should be maintained at a level equivalent to around six months’ expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The trustees decided to invest the funds provided as a result of the legacy left to the Charity in 2017. This provides an additional source of income for the Charity. The Trustees will continue to maintain funds in the Charity’s current bank account equal to about six months of expenditure.

Risk management

The Board is responsible for the management of risks faced by the Charity and these are considered, as appropriate, at Board meetings.

Structure, governance and management

The Friends of the Ordinariate of Our Lady of Walsingham (the "Charity") was incorporated on 23 June 2011 and entered on the register of charities on 1 July 2011.

Membership of the Charity as at 30 November 2025 consisted of nine subscribers. Each member has guaranteed to pay £1 in the event of the Charity winding up.

The trustees at the date of this report are shown in the Reference and Administrative Information on page 1. The directors of the Charity are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

The Trustees have a written policy on grants to be made by the Friends of the Ordinariate. This was approved by the Trustees in June 2021 and updated as of 24th September 2025.

At the Board meeting held on 24th September Nicolas Ollivant announced his intention to retire as chairman but to remain as a Trustee. Michael Hodges proposed Peter Sefton-Williams to succeed Mr Ollivant and Revd Fr. Richard Biggerstaff was seconder. Mr Sefton-Williams was unanimously elected as chairman.

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FRIENDS OF THE ORDINARIATE OF OUR LADY OF WALSINGHAM (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2025

Appointment and induction of trustees

As set out in the Articles of Association the number of trustees shall be not less than three and is not subject to a maximum. The trustees have the power to appoint additional trustees. During the year 2024/2025 one Trustee, Msgr. John Broadhurst, resigned after 14 years on the board. As at 30 November 2025 there were nine Trustees: Peter Sefton-Williams (Chairman), Msgr. Vincent Brady, Msgr. Keith Newton, Nicolas Ollivant, Richard Cleary, Benjamin Fowler, Michael Hodges, Revd Fr. Nicholas Leviseur and Revd Fr Richard Biggerstaff. Trustees retire by rotation in accordance with the Articles.

Trustees are selected in light of the skills, knowledge and experience that are deemed to be required. Trustees are appointed by the unanimous decision of the Board. The induction process has, to date, been through informal meetings and discussion. A formal induction process has now been put in place for new Trustees; this includes a briefing for new Trustees on their legal obligations.

Organisation and management

Ultimate responsibility for the Charity rests with the Trustees who meet three times a year. There are no sub-committees. The day-to-day management rests with Peter Sefton-Williams (Chairman), and Nicolas Ollivant, a trustee (and former Chairman). Other Trustees assist from time to time. There are no employees of the Charity. The Charity pays for the services of a part-time financial controller, which amounts to approximately one day’s work per week. The Chairman is responsible for the strategic plan which puts emphasis on cost control and efficiency as well as the creation and maintenance of a database of donors. Trustees also perform, free of charge, most of the work involved in fund-raising events. The services of a software consultant and design consultant are used on an occasional basis. During 2025 the website (https:// www.friendsoftheordinariate.org.uk/) was redesigned. For each Board meeting management accounts are prepared by an accountant from Arque Consulting. At each Board meeting the Trustees monitor income and expenditure and approve, on a case-by-case basis, grant applications. Between Board meetings Trustees are in touch with one another on at least a weekly basis.

Approved by the board of trustees of the Friends of the Ordinariate of Our Lady of Walsingham and signed on their behalf by:

..............................

P E Sefton-Williams (Chairman)

Trustee �� Dated: .........................

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FRIENDS OF THE ORDINARIATE OF OUR LADY OF WALSINGHAM (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF FRIENDS OF THE ORDINARIATE OF OUR LADY OF WALSINGHAM

I report to the trustees on my examination of the financial statements of Friends of the Ordinariate of Our Lady of Walsingham (the Charity) for the year ended 30 November 2025.

Responsibilities and basis of report

As the trustees of the Charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1 accounting records were not kept in respect of the Charity as required by section 386 of the Companies Act 2006.
2 the financial statements do not accord with those records; or
3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Andrew Seton FCCA For and on behalf of Affinia 3rd Floor Chancery House St Nicholas Way Sutton Surrey SM1 1JB

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FRIENDS OF THE ORDINARIATE OF OUR LADY OF WALSINGHAM (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 NOVEMBER 2025

		Unrestricted	Unrestricted
		funds	funds
		2025	2024
	Notes	£	£
Income from:
Donations and legacies	2	44,874	39,370
Charitable activities	3	-	105
Investments	4	(8,446)	36,268
Total income		36,428	75,743
Expenditure on:
Raising funds	5	21,216	15,634
Charitable activities	6	23,098	18,881
Total expenditure		44,314	34,515
Net income/(expenditure) and movement in funds		(7,886)	41,228
Reconciliation of funds:
Fund balances at 1 December 2024		354,387	313,159
Fund balances at 30 November 2025		346,501	354,387

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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FRIENDS OF THE ORDINARIATE OF OUR LADY OF WALSINGHAM (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET

AS AT 30 NOVEMBER 2025

Notes Current assets Debtors 11 Investments 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets The funds of the Charity Unrestricted funds	2025 £ 2,096 303,477 47,206 352,779 (6,278)	£ 346,501 346,501 346,501	2024 £ 2,270 311,998 44,489 358,757 (4,370)	£ 354,387
				354,387
				354,387

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2025.

The trustees acknowledge their responsibilities for ensuring that the Charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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The financial statements were approved by the trustees on .........................

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P E Sefton-Williams (Chairman) Trustee

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FRIENDS OF THE ORDINARIATE OF OUR LADY OF WALSINGHAM (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

1 Accounting policies

Charity information

Friends of the Ordinariate of Our Lady of Walsingham is a private company limited by guarantee incorporated in England and Wales. The registered office is 24 Golden Square, London, W1F 9JR, England.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the Charity's Articles of Association, the Companies Act 2006 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 2016). The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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. 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 expenditure is included in the accounts on an accruals basis. The Charity is not registered for VAT and accordingly, all expenditure is shown gross of irrecoverable VAT.

1.6 Cash and cash equivalents

Cash and cash equivalents include deposits held at call with banks.

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FRIENDS OF THE ORDINARIATE OF OUR LADY OF WALSINGHAM (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025

1 Accounting policies

(Continued)

1.7 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

2 Donations and legacies

		2025	2024
		£	£
	Donations and gifts	44,874	39,370
3	Income from charitable activities
		Unrestricted	Unrestricted
		funds	funds
		2025	2024
		£	£
	Sales within charitable activities	-	105

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FRIENDS OF THE ORDINARIATE OF OUR LADY OF WALSINGHAM (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2025

4 Investments

(Losses)/gains on revaluation of investments Interest receivable	2025 £ (8,520) 74 (8,446)	2024 £ 36,268 -
		36,268

5 Raising funds

Costs of generating donations and legacies Staging fundraising events Support costs Expenditure on charitable activities Grants Other direct costs 2025 2025 £ £ Direct costs Stationery, printing, computer costs and travel - 4,630 Grant funding of activities (see note 7) 18,468 - 18,468 4,630 Analysis by fund Unrestricted funds 18,468 4,630	2025 £ 15,373 5,843 21,216 Total Grants Other direct costs 2025 2024 2024 £ £ £ 4,630 - 868 18,468 18,013 - 23,098 18,013 868 23,098 18,013 868	2024 £ 9,745 5,889
		15,634
		Total 2024 £ 868 18,013
		18,881
		18,881

6 Expenditure on charitable activities

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FRIENDS OF THE ORDINARIATE OF OUR LADY OF WALSINGHAM (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2025

7 Grants payable

Grants to individuals and institutions	Grants 2025 £ 18,468 18,468	Grants 2024 £ 18,013
		18,013

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

9 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
	2025	2024
	Number	Number
Total	-	-
There were no employees whose annual remuneration was more than £60,000.

10 Taxation

The company is a registered charity, and accordingly is not subject to Corporation tax on its charitable activities.

11 Debtors

Amounts falling due within one year: Other debtors Prepayments and accrued income 12 Current asset investments Unlisted investments	2025 £ 1,659 437 2,096 2025 £ 303,477	2024 £ 1,856 414
		2,270
		2024 £ 311,998

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FRIENDS OF THE ORDINARIATE OF OUR LADY OF WALSINGHAM (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2025

13 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Trade creditors Accruals and deferred income	2025 £ 1,778 4,500 6,278	2024 £ 470 3,900
		4,370

14 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

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