Ch•rlty r•gktratlon numb•r 1148980 COmpY Teghtratlon numb•r 00487520 (England Ind Wal•s) CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) LEGAL AND ADmINISTRAvE INFORMATION Rev M C(Kc¥m MHM Rov J b'ndero MHM R8vG Hastso MHM Rev Lun8 MHkl Rev F>AAmek MHM Charlty numlJ•r 1148980 Cob)wny number (A675?0 Princip•l address Po Box 3608 SI Joseph's Parish Cenlre klaidenh&aJ SL6 7EG Auditor Robson LaKknAwJmtsnts nd Jèsmrxj Newyasuo UFKH) T Tyne W EngL8nd NE2 1TJ Bankers Rtyal Bank of Sc(thl plc 62-63 Thre&lneedlè Slreet EC1A98D Solkitors 70 St G8rffgo'8 Sw• Lond(Xb SW1V3RO Inv•$tm•nt advlsors Brknin D(phin Limited 12 Smithfiehj Stre81 LONI EC1A98D Chartes Stanley & Co Ltsi SS Bishopsgale LorKk)n EC2N 3AS
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) CONTENTS P*9• Truste. r$ptyt IrthpeThJen¢ •udIt¥ r•p(¥t St¥tsmBrrt of firwKaal acli 10-11 BolanL¥ Sheet 12 Stalnt ol cash fb 13 Notos to tha firwual stai0rnts 14.23
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The irustses pr8senl thgif TgP)rt and slements ky the 31 2023. The Iruslees who are akn dKector5 of the dwrity for the of the Comwwes Ad 20C6. present their re[ with the finandal slalements of th8 charity for the year 8nded 31 Doc8mLr 2023. Th8 tmstO95 hava adopt8d I prowsions of A(£ountiThJ and Reportin9 by Chants: St£teTrt ol ReL¥Jmmended Prti awicable to d)arilies p paring thr actount¥ in wth the Rgporbng Slandwd appl8 in the UK arKI Republic of IrélAnd IFRS 1021 lèltéth"¥È 1 2019). Introduetlon st. Joseph's Soaety for Forgn MissKrn was fCrtffd rl 1866 by Cardinal Hethrt Vaughan at .11 HIN In London. Th8 Sooety is an "int¢rnaticThl ol Mi5swari95". dgd>(ztgd lo the work of evangdisalK>n. to the buildrr up ol young Churches, and to the AssTrslJr•) of Churcls in s#1 reod thLqKJè tho h(Kr regio. Member8 of I &xty ¥rg gxpgctgd lo +eave their country Lwlhxe and to be in¥ve in W0eng areas of evangelisabon. In Detember 2006 the Gwvalate from fvWI HTII to MaNJethad lollowing the sal8 of st Josoph's Colkgo in Mill Hill vh.cth tradItnalty W been the prinupal trrn9 ntr8 ol thè Society. Becouse of Its historical found8.0fi ihe Soti¢ty •nd rt¥ mBwths knor7 ¥¥ WI HAI Mi83iDnarie& Th¢ So¢Trtrty 1$ 9•r¥SOd inktr Ihrg9 MISSn8. th8 Europe arHI NL¥th Amorica Mission IONnISg Groal Britain. Tho Nethertands, Ireland, The United Slates, and Gemwi Spe8kiNJ Region. encp8.ng houses n Italy and Austrial. Ihe Africa Misson arKI th• Asia lOn. Lhknl fac8Y it ha$ dr&vn thè rwonty of ils members from Europe North AmencA. Today there afe many cwthdales from Camoffjon, l)orThxth RtspLJi¢ 01 Congo, Ken, Uganda, In¢tha. Mawsia w¥J Pl¥likWiRS. It has Mission Area5 countnes. Kenyo, Ugar¥Ja. s Sudan, CToOn, Demrxatic Republic of Cong), South Africa, Pakist. Indi. Mal¥ysw. PhlIppi. &Jzl' . C8thdia. a pr9sen(¥ 913ewthwg in Ihe world, Th¢ o>np•ny w•$ inlF)rad m 20th Odober 1950. LWKIW a m0m)lM and artKles of associalion, aThJ register1 as Q0487520. The Ch8rity Commr89ion gave thtab staius to it cm 17th September 2012 1 Charity nuthr 1148980. Until 31 Doc8mber 2012 th8 conyny was thymanl. It bègan its ath"wb"es on 1st January 2013 when the Charity for St. kneph's M1$5iw s(tY 18ritJ¥h Irust IChaTity Crynmission numhr 290 and the S¢J)ttish Charrty Regu181or rKMnber SC0398091 tran5ferrJ a58els to il. The 5talulory power of apints"ng trlÈ¢S the $t1j Trustees. Orll•thatlon All thé Directorsfrrn¥tÈe¥ ol the Ghwity ft)r Sl Josgph's Sro8ty IGen8ralatsl are Mwnbws of St Joseph's Missionary Society. The dYectoTr of the company are apwnted p)mUy ty the Gen£rnl Superior and Vicar General. The General Superior is tho Cha'mwn of the 8oard ol Di[1(5. The Gweral Supenor and the Vicai Gene[81 were elected by the delegales at a Gwal ljwptsr Wd fvè >¥ts. Tl re(wt Chapter was held in Jur 2022 alAbingdon, Enkrfand. The tnJstè&s have ld dtse lo Ch*ty Ccxnml10n n dgddirq %thal a¢tlvitios the charity should und9rtake.
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORn (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 TM Tru$t•es Rev Mlchael Corcoran MHM Fr CoruTrran ha$ a fiJll nmber of the S(Kty since January 1985. He was ordaInj in August 1985 aNI elected General Superior of IhÈ soctY in 2015. He was Tole¢lrt Su[W G8neTal at the General Cttapler June 2022. PrK)rto beww eleded General &wenor he was the He&1 of the so8 Irish RegJn. Rpv Gèrard Hasti• MHM Fr H8stio has full rthr of the &Kiety Decwnber 2001. Hg crfthned in Junp 2002 and wa5 Bppointèd Assistsnl FinAJk4 SÈttÈtsry in M8y 2019. In Odober 2019. he wa$ appointed Fin8ndal Seuetary. He was appcAntod a8 a DITtOrrust0Q in No¥erth 2019. pr to app'nted as Assistant FinanrAal Secretary he was Worf(w Ihe Society's mtson in Ky8 and UgaThJa. Gerry was dected VKai Gen¥ipl of the So¢iety by tho Chaptor d8kngales in Jul 2022. Rev Jimmy Llndero Fr Lindero has beon a fvll Member oftho &ri8ty since Octobor 2rJ)6. Hg ordainad in April 2007 and 91gCtod lo the General COU11 in June 2015. Pr)r lo bery elected to the General cou1 he was we+iNJ in Ihe Society's mission in Pakistan. He wa¥ appowited a5 a DIre¢twlystee in May 2016. term in the Gene1 CoK end8d in June 2022. He WRS appcAnted Financd Sterètsry Febru¥y 2023_ R•¥ Phlllp Adod• Am•k IIHM Fr Adade has been a lull Memtw of th8 Sccw Sin 2(M)8. Ho was ordained prièst in August 215. He was elected to the Genero1 C¢urKil ju 2022. Ho w?8 appowiled a¥ a Dyoclrxnrustse in W 2022. Pr¥)r to his election to Gweral Cou41, he hJ worked li ts ScVs rT¥ssKm in Ug8nd8, ya and the UK. Fr Bernlè Luna Fr Luna has b88n a full Mèmb&r of SfXiOty 6irKe March 2Cth. He w (Oaird priest in A1 2010. He was elected lo Ihe Genernl council In June 2022 Hè was tppjftted 8$ a th"r¢dtylTwstee in July 2022. Piiw lo being 91gLaed to Ihg General CwrKI, he was %wrking in the scty's Paknstan. ObJ•ctl¥•s and ah The willcip¥l ObJtiveS of IIR Sou'ety as stated in fv trust d9ed awe.. Such eh8ri18b purrthes thal 8(fv8nce relIguS and cther charitab18 th ofthe Sc) ¥thJi 1. The promotion. Maint) & ol thg SLKxty & its nvnbgr¥ indwlng Ihg thtion al tlvxg 2. The relièf of poverty and 3. The advancnt of the Roman RolwJMJn Th8 Trustèas may use th8 and Ihe it)c(yn8 of Chanty YI prClI¥j Ihe Qtjpcts. These Obve6 d8aty $tate th¢ aims Of the So¢ty. Publ1¢ benefit Thè Trustees h•b cor¢ the gUIdan madg avalable by tho etlty C4Mnmk86NJn EThJland and Ws on the Public Benefit requirement ol Ihe Charit The Trustees ore o)nfwJenl Ihal they have conv1d ¥th Iheir duty undor tha Charils Act in that they hav8 ward lo tneffit guidance publiSd by the Commission. In furth¢rants ol lh¢ Iry8ls tharilat48 purpo3es f(x b8nefrt the truslees giwe detai15 of ir aCts'Ve5 in Ihe oW¥d pTaphS. Achi•vgmonts P•rfO•nc R•¥l•w 012023 Mission is Ihe hoart of the s{£ty, e¥ciaty in Flaces the Church is still young and needed support. In Asia, the Soci¢ty continu¢¥ to in FAaGg5 like P¥k45tsn, India. East Klalal, the Fthilippin95, and the eY opened sslon in CamtKxliA In Alrica. thè Socièty ths Camerrx)n, Keny8. Uganda. Democratic Rewblic of Conw, South Sudan. and Swth Africa. Thero is s0 a miSSary wesence in two counln.es in Lain America in the 'Home Regions" like the UK. Ir¢J. NelhowlwvJ¥. Au*ria. Itaty arKI North knlEa.
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The formalKJn of eaThJidates for offj1natK to rrYssKww piiestrtKKI is one of 1raI of the Scthty and contintjes to grow as a resuli of a steady slrearn of candidales (x)rring frrn the missKm countrw in whith the Society }rks. In 2023 the We 156 students in the fLYm programrr and 14 student5 became permanent M8mb8rs of the Scoety and woro ordained to tho WgsthCd. Tho steady incThaso in the r¥Jnb6r of Memb8rs ol the Society in recent years has 8lkAved for the strengttniw of pers in sorm of the newty OKe SsIOnS like Cambotha. Every two ygars, our lormal(¥s our various f(xmatTh in aivj nwt fpr updalwvJ. review And KA8nning. In Detsmber 2023, they mei in Hyder8bad. The Sety seeks to offer its Members thjrry thor missKYwy life the oprt¥ty for ry¥ng human deveh)p[Tt and educ¥t th the result that ¥wJht fdlowtrj rtnew cwse$ in 2023 were in further studie The ScKi8ty funtts Is missKmary th in 15ffnI parts ottha tliW.' inveslrrtsnl¥ heJ by th8 Grakn. 2. donats'ons and its share ol Ihe Mis6ic4Mill Hill MissTronary ryiwj BorAa Maged by its Biknsh R&Jion. For the year 2. the &)tsetys invesbnents hekl by Br&1 t4"n. Charfes Slan and MAnagent Group. InG, p9rf(¥mgd conyarativety well Ihan the previous year. The year ende(l wilh a w)wtNe gain gf mgrg than lour hundrod thousand pounds in markol value k8 lh8 p13 year then w8 1051 more than livè Milli markèt value ol our investments. The SOcty monitors the perf0MnCe of its investments by keepiThJ in close louth %wth tts ¥dv7ser8 both in lh¥ UK thtr LISA awvj by rffttwvd thom wu18dy IquortY &nnuolly) either foce.to.face or online. As menliord the Sctioty ceiV03 fwKling fu rts miss¥)n frDm its pint fvrKlraising appeal¥ with Mi¥¥io IRegi51ered Charrty . 10566511 whth a managed by its Brblish Regn IRegi%lered Charity No. 220690 and SCD398091. Tho income receNod for 2023 thrjgh this fu"SIr3 vras £508.360 vthith was 11% loss from tho income of Ihe pVuS yetr. The SOC a180 received geneIJS Ctr)liClS tcAYards ils work from its Re9MMS )rth Anri, Ireland, Britain, Geman Spea Area lin Austra and IWI and the NettrfaThts. ThB Swoty mwages its finances fr(¥n s FirwKe at th8 GorTrwalato in MaKJenW from th¢r$ it Iwi20s th its overseas bursars. ll also hohls annuBI Finan Meeliro its Bursars in Europe, Camer¢x)n, East AfrKa, Indk and PlippI$. nwtMvJ onl'nè via Zcx)m from 2?1 to 26M May 2023. The Finance Cwnca acts As an &JvTrsory to thè GernI Courdkn ofTnstees. CownmuniraliLN) of its ffles5age and cornrrtunKalion wJtwrters o an iwnKMytsnl vK¥k of ts Chavity is kept undér réview. Trad"(TrI Ihis h8s (knre thr¢wh the vartws m8wnes publbshed by the in diffèrent Gntries. Thg sclety's KFb&te. wth nK)re and fflorg pe(y fflov¥¥J onlinB, continuos to be an Invaluab means for keepi supFKylers upd01 dyity on the rth¥ of the knety and the hos Ixen a steady uplake in peoF4e using the srte lo make onkne d(x)8tK)ns for thè ol S(xty. In acccdanco wlh its objectNG of tho rdief of pm. tho Membgrn of tho sOty work in nY pocr deprived 8re8s ol wortd KOv.nY reIC and hum8nil8rian seThtes. Some of these areas we difficutt to work in becau$8 of disrupti duè lo OVA unièst vionC$. Th& orwng unf in EryJlish.sp8aking Cameroon as well as Ihe rising insecuTty wncerns in North.East8m Ugar¥Ja rj)n¢¥je lo rwo coThxrns wuund the safety of the p¢oF4¢ and the Memters wtrv) vKJrk n these pkns and best to resp. M8mb8rs of the Gw)eial Cwndl • keep in wilh Mgmtws C mission by viwtw tlw thg areas in whith th¢y %)rk. Thoy wyre aNe lo yrt IAerthrs in Malaysia. South Sudan, Uganda. CamIdia, Kenya, CameroorTr. Indi8 and in the Hc¥ne Re9Kis. Le8derslMp consultat Meets'r, ganiSed by the General C¢yJncil for A&'an, Afn'(xn and H(xne Regi$, wgr8 do online ZCKm p5atfofm. Also, in (Xlobar 2023, tho G8n8ral Council ¢xgonised a zoom (xJn$ull•tiv¢ mee9 4%Yth se le•kn bj deterrr the fvture ol the Procure House in Rome, The GeneTd Chapter 2022 directed c(yJTr lo a review INYW the Rcyne House best sorves the Society ils missK)nary obpth'vos. The Gèneral Council lixistt with other Church bodkns and partiti"pales in idèr Church ¢knJJssions as Iember of reV1 Church OrganiSat such as MISAL IPILssion8ries of Apostolic Lrfel and the USG (Union of Superior Generalsl. Th* anrKwI MISAL mogWKJ t¢xth FAa(¥ li Awl 2023 in AbJ. USG meeting was held May 2023 in Romè.
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE)
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The Ger181 Ccxjncil ILqises other Church bodies a1 Part"paleS in wder discussion$ as
mombor of relevant Chwch Organisations Suth as MISAL IMissH)naries ol AFK)sldic Lil¢l •rbJ lh& USG (Union of
&Jperior Generals). The nual MISAL meeting iojk olpn'l 2023 in Abxll. The USG rrEeting Yra8 hgld
May 2023 in Ro.
Tho SfKitrty oth0d Iho ¢tioth¢s it set tt8d frx thè and is 8knfied wth results Ihe yaar.
Fin•nGi•l rovlgw
R•8eN•$ pollcy
Whar8 ar¥Jropriate, ilIvI1 and rese havo diBoJssad in tho Rovi6w 2022. Thg Trus1 •te
himever v¢ry Const5 of the ¢ommitmeni of the SL
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {coKfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustbas. Itho arg also tr dir&¢tors for the ol ¢(w law. 8nd seThed duriNJ the year 8nd up to the date of sfvW8lu ol the fm•nual statwnenls we.' Rev M Corcoran MHM Rgv J Lindero Rev G Haslie MHM Rev BA Luna MHM Rev PAAmgk MHM 8tat•m•nt of trusts•s' responslbllltlès The frustees. who are also di[ of Charity Fw St Joseph's MissvyBry Swety IGeneralate) for the Pufpose of rA)mpany law, are responsible kjr pparing the Trustèes, RÈrAJrt tho fin8nrial slalerrents in ?Ordanc wth applicablg law ¥rKI Unrted KI1 Accountr'ng stjaIs (United KirIj0M Generdlly Accepted AcD)unling Pracli¢el. Comp8ny Law requi8 tr trustees to wepwe fin8no¥l $1otsmenl¥ fry gach finwmxal ygarwlith smvg a tru9 and fair viow of th8 Stat8 of affaws ol the charty and ol iNxJff•YJ resourr2$ 8nd 8Oicab"M of resourees. indLKling the income and exp¢nditur•. ofthe I)lY Ihat . In prop8ring these financial statgmonls, Iho trusl89s ¥e kn.. . sol¥d SLilalAg a¢Ur¥a polims then them c¥Mistenty.' . ob3erv8 the m81S pn'nraFdBs in the SORP. - makojudgem8nts and 8slimalès that arè rèasonabl8 aN1 prudèni . stale whether plicatIe UK A£o>Jntry St8nd8rth have teen frAlrMd. tiec1 lo arry mater481 deportLW ¢th$¢108ed and 8¥F4ald in the fina slatomgrrts,. and . proparo th9 finathia stateMts M Ihe gory o)ncem basis wmess it is i18ppropYiate to wesume Ihal the charity will cortinue in operal)n. The Iru$tees a rewnsible for k•w'ng 4dgquats aw>unb"ng tp(yyd5 thBt dlJOse wth 1pasate accuiacy at any txne Ihe financkql F%>siion of thè c"ty )d enabfe them to ensure thxt ts finanrial slaltsrngnls rnpty wilh the Companies Act 20(6. They are also resporysl)le lof salegvardw the assets ol the chanty hen lor taking rwonable steps for Ihe we¥enb"on aTrJ 8m)n ol fraud othor wrwJulibo¥.
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) TrUSTEES' REPORT (INCLUDING DIRECTORS. REPORT) (colNuED) FOR THE YEAR ENDED 31 DECEMBER 2023 Audltot In accord8nce with grt¢des, o res¥) th•1 Rub¥(x) L•wJlei A¢cLwntanl¥ Umibj be reappointed as avdrtor oftho conwany wll at a G8neral Meèb"n9. Dlsdo$ur• of Infomatl¢)n to udltor Each of the truslee5 h05 nfirr[d Ihal Ilwe is rKJ irMal)n cl Ilw are aware which is rdevant lo Ihe Adrt, but ol Ithich the ditr)r is unawArè. Try have Itts C(rId thal tsy he tsk8n approwi819 8tep6 to Jèntify Suth TOant inknrmation and to establish thal the auditor is aware of such informats"on. The truslee$' reportwas akyovgd by Iho Board of Truste8s. Rev M Corcoran MHM Trust•• Dats. o 6 .1. 0 &. {.2..........
CHARrrY FOR ST JOSEPH'S MISSIONARY SOCIETY {GENERALATE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY {GENERALATE) Oplnlan We have audfteLI fwThial Statem of Charity Fc Sl A)seFth's lthssK)rwy sety (Generae) Ilhe 'chariVI lor Ihg year ended 31 December 2023 thch compn'se the statoThnt of aral activibes, the balanc8 sheet. the statement of cBsh 0S antt noles to the fina s18tements, Cthng 59nnt 8ccountsrvJ pc4ictes. The finBncial r8POrtiNJ that has bggn appld irb prgparab"M bs ap1¢49 law aThl Unrtod KiryJdom AcwuntiTra Slandards. Iludir0 Finantial Rel"rj SlÈndard 102 The FirttinttBI Rwwn9 Sl•rKl6rd 8pptrcAble in the UK 8 RgpublK oflTrlaTrJ Iunited KAWJM Generaty AccepledAccountNig PraciKe). In our wirmon. Ihe fanCisI stateffmts: gtve a truo and lair Vwf of the slalo c£¥npanVs affairs as al 31 Dac8mtei 2023 of ils eomin9 resources #Thj y4utK)n ol (xy. its in(yJme exptrditiKe, for the year th ¥[ed., hgve b8•n prDperfy WqPaTgd in a(£0 7ith Uned KTyJryn Ac£ept•d AOX>Lting Pr¥¢tice,' have Wed in acco Tilh the requwwwts of the Cwipani85 A( 2C¥)B. Basis for opinlon Wo conducted our a11 in a(xordarbc8 wtth IntWri SiwKlards on Pthibng (UK) {IS4s IUKII and awublo law. ¢)Jf s[SibIh1s uThlef those #tsndords are Ier described in the responslts'li¢S ftjr Ihe audit of the finanoal slatsMt$ ol Ixff rerrfxl. We are I)dwdl of chan.ty In wrth thg èthical requirements that are reloyanl to our aydTrt CA Iho fiwoal stalom8nts in the UK. inrjuding the FRC s Ethical andard, and we have fUld our other elhical respon&t'lths in accordance wth these requirerronts, We believe that the audit Idence we hav8 obtainod is and apwoprt& to pyovwjo a basis for our opnion. conclusiv rnlaling lo going concem In 1tn9 the financial ¥13tents, w¢ ha C¥YKau(S¢d th th? tru¥lo¢s' us• of the goivJ ¢orK¢m bas{% of accounting in the preparat of 881 staterwS L8 8ppropwle. Based on the Wofk we have perf0Md, have not identified any materiol uncertainties lating to events or ¢ondilw)ns thal. itKliwdually or ¢dle("vely, may wt rkxknt on the tharty's atxlity lo a$ a going c¢•rn for 8 p¢rftsJ ol al least rwiths Irm) the fin¥Kaal slAttyn8nts arn thorM¢d for is$ue. Our resFMJnsibiliti8s and tho rgsp)nsIblrtS In1$ wth rgspKI to goY¥J c4Jn(sm are descriW Sn the relevant Sects.0 ol Ihis ropc Oth•r Snformauf The other informatKn comprises the infOmwt in the rewt otheT th the tharri81 slalemen15 and our auditorfs report th8r8on. The trILst86s e r&sp(msa fr)r Other Inforftti[ contain8d thin Ihe annual report. CKtr OFMnth ¢n thè finw¢•l $tat¢mÈnts ¢kns Thjl co¥er the other w)famiatft except to the extent otherwise explicily slated in Ouf rep(¥t, we (kj 1 eXess any form ol assurance (ClUsiOn there. Our re8FM)nsibility is to road the othor inf0mtiOn d. in dosng so. condw whothar ts othor inf(Kmation 15 mat8rially iiuinsistent 1th the financial statements or our kntrAed9e obtsira in Ihe ol the audit, or otlwse appears lo be malgrially fllb56tsted. If i¢Jentsfy such malen81 InnSten[es or warerTt materi81 misstateThnts, we are r8quitsd lo delerm•ie whelher this gives rtse to a nMlerial nNsstsl8m8rrt in ts financk81 ststemnls th8mselvgs. 11. based on the work we have perforn*d. we conrjude that Ihere is a matLyial nwsststement of this other information, are required to report that f. Wo have r•JlhiThJ to repcxt in this regwd.
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY IGENERALATE) Opinion$ on othor mattgrs pr•scrib•d by th• CompaniK Act 2006 In our tyinn. based on the work undertaken in fv ccwse of o(r audit. infom)ab"on gNen in the Injstees. report lor the ffftan(Jal year l(K wh¥ the financk81 statements e prep•r¢d, whith indudes ts thectorn. rep(xl wepaNI for the Pup0 of law. is Cl$1318nt vthh the financial statements.. the di¥ectOTS' report iltiin the ITU6tws' rowi ha& twn in accordanco wlh 4plcablg gaI uirennts. M¥ttor¥ on fwhich we ar• r•quir•d to r¢port by •xc•ption In the li9hl of the kno%%lèrlge and undersiarM1ing ol charity #rtd rts oMtonm8rt oblxln¢d kn th¢ ethrsè of t aud((. we have ncl Klgntified matwial misstate5 in Ihe dwecaLYS' inc4ude(I within the trlees. rekA)rt. W8 haw nolhing io report respod af ma118rs ui rela1 to Companiès Act 2LX)8 rèquiras u¥ IL) rewrt to you if, in our OFXnH)n". &leqLt8te attoLtin5 records noi b¢8rb kw, or r?m¥ fty audit havo rK)t boon r¢¢dvtyJ from brarKhes wvjt visrted by us: or the InoI ¥tstemonts w? [1 in ¥groerngnl with Ih 0)n11r9 rgcg)rd¥ rglums: certain discbsures ol trustees. remneralion speufd by law are not mède.. or wo have nol rocObv8d an the inf0Mw and eXpl•wliS w& wuire audit or the trusteas ra not antitknj to prowe statomonts in cordanc¥ with tho srrAII compan186 regime and lake jVantage of the smal CoMpans. exempb.ons in FYepafrwJ the trustees. rep and from the requirwngnlto pr9 TeFxJl. RKponsibiliti•s of trusto•s A8 oxplained rTrye fully n the stalernent d InJsts88' r8SForribilitN?s. th8 twslees. who are also the d¥ect$ of the charity for the wrpose ol corrpany law, we sFaltrfe I( the weparalKm ol the slalemenls for beiivj $aUsfwd that ih9y ¥¢ a arxl fai¥ Mgw. and for syth intwn OtrOl as lh& tru5t¥es detom)ine is nO$sary to en&e the prep8ratkin of finxntsal slatements th•i ¥e freo fr¢kn Materi n¥s$tatÈment. wheth¢r due ID Ifkud or error. In prgpariryJ the financ4al statefftents. the trustees are reSWnsie Iof as5e55ing the chaTty's abilty to continue ès 8 go9 0)ncem. di8dosing, as 8ppli¢ab$8. mattsys relatsd to gow%J o)nc8m and Lt$w)g the 9)ir concwn basis of accounbng LtnS the tfttsle eithef to I"quidate tha thantsblo company or to cL8se oporotion¥. or ha r¢ali¥tic altwnatNg to do s Auditorfs r•sponslbllitiès farthe auLIt of the financlal statements Ow objecli¥es are to obtain roascnable assuranc8 abtyJt vthethgr ts finanoal StatorrlS as a wkJl8 are froe from material misstatemenl, whether to Tra c errc. and lo issue an aL#lrtor's rep1 thal irK4Lths our opinion. Reaswabl8 assuran is 8 1¥9h level of aGe iMJt 15 wK)l a guarantee that an audl (J)ThluLled in acci)Tdance wlth ISAS IUKI wll always delecl a maiwial rr•sstalerrnt when rt exisls. Mt8Staternents can arise from Ir8ud or eThor and are considered moteri rf, indivhlually or in the aggregate. tliey could reasc#)aY be expecled to influence th¥ of usgrs taken on Ihg twis of I1 financ1 statements. The extent to whth OL¢r prouS 8R capthe ofdetecb"NJ ry(dares, frvth. is detailed tjelow.
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY {GENERALATE) The risk of mater] rrmsslatemenl lo em)r or fraud has bgen asse550d in 0)njundi wth how internal wntrols may mitvJale any gjch Fisk. These CLfitrols are re¥m 85 part of the audrt by perform17g syslems WkrOughS to ensure they are OFratiTrJ eWiv8ly. othor substsntiv8 testirKJ also p6rfomed matwd balanGgs and therelore any instances of non-com&?nee shoukg be fits.d or considered as insigniknt In idents"fying And assÈssino li ol m8twl MI9$18t in respert lrrwri, Ind1 fraLd. the audll ong&JemBnl t8wn'. obtained 8n Underntding of the nature ol Ihe 4rU¥1ry and ¥¢doT, irK14vJing the kgal 4n(I gUlat framgwork, in whh lh8 charity operates aTh1 how thè tharity 0)mleS vAth Ih8t begal and rè9ulat framework . inquired th IIK)se ch8rged 8t1 Iheir identffLation and as80s5m8nt of the rtsk8 of ffrogulwilios. induding actual, sustl8d or allaged instanrAs of fraud discussed wth manajement and Itk)se Charged wth yernaNCe any non-conwianeè with la and rggu1ati0t and how frawj induding 85se55rnents of how whwe the faal slalements MAY b& io fraud. The risk of management overrmle (rf controls was 8190 considw8d 8n w of potsntial misstatomont (hJ• to fr•A. Audit procedures porfomied induded l&sts"ng of erkn"&s other atluslments anrf èv8luAb"rvJ the bu$inèss rationale in rol01b lo s3nt urtruwal trKIn8 trJn3action3 enterj into outside the norm i)xJr6e of business. A furthei descnption of our responsibil11 i¥ ava¢¢ t)n Fin¥nryal Rekvting CouwKiI'¥ wpb¥ite al." http&ll .frG.ory.ukIaIiIresponsth1it$. This dew)bon lom pwt ofour auth"lo¢s repJt U¥• of our rnPDrt This repcAt is made sololy to tl Crrtabltt t[r¥ mtyths. as • ixKty, in •¢{yXdan ith Chaplw 3 of P•rt 18 of Ihe Companies Act 2006. Our audrt work has Lwi undertaken so that we might state to the chan'tate ccmpany members tFN)se Matters w8 are r8qUif8d to slate to th8m an auditor's rep)rt and for no othbr purpose. To the bjlest extenl pemiitted by law. do Th)1 accepl CY assume spOnSIblty to anyone other than the chari1Be Ynpany and the ¢hit¥Ll¥ rrvnbws a budy. k)r CAX for thi8 repDrt. (Tfor the OPiniL)n3 we hAve fomied. Illchola Cwffilngham FCCA IS•filor StatUty Awfitor) for and on bèhalf of Robs¢n Laldlgr Accountsnts Llmlt•d statutory Audltor Femwocoj Hws¢ F8mwocJ Road and Wew Er*JL7nd NE2 ITJ
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Curr•nt Ilnanelal y•¥ Tot•1 funds 2023 funds 2023 2023 2022 Not•s lrt¢om• •Dd •ndtymwrts from: Donations and lÈ08riè8 Invgstments Other incon 1.832.983 1.252.384 125,720 18,632 25262 1.851.615 1.277,646 125.720 4.970.483 1.312.686 5.621 Total inc¢)m• 3211,087 43.894 3.254.981 6,288.790 Exp•ndltur¢ on: R•sing lurvJ5 Charitae 8etiwti 218.253 2.988.117 19.759 238.012 60266 3.048.383 350,4e6 2.680,424 Total exponditura 3.370 80.025 3.286.395 3.030,890 Not goin{11?) w iweslments 414.900 120.4801 394.420 14.875,3471 N•t incom(eXPendIr•I 419,617 156,611) 363.008 11.617.447) Tr8nsfers tt¥%en fumts (17.898) 17.898 N•t Mo¥•Mt in fund• 401.719 {38.713) 3&3.( 11,617,447) Roconciliation of funds.. Fund bai7nc8S at 1 janu 20rJ .212.009 3,022,75T 53,234.826 54.852,273 Fund balan¢e$ at 31 Oecember 2023 .613.788 2.984.044 53.597.832 53234.826 The stalement of firAncial actsVoS incxlès al gns 8nd kx8es retswfiwl Mi Ihe yew. Al in¢>yrwJ and exFendttLFTe d¢rive from cYJnliruJiwvJ actr'wiies. 10-
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Prlorflnanclal y•ar UnrMtrl¢W Re$trlct•d funds fvndB 2022 2022 Incorn• and andowmènts from: Don8lions aThl legaci88 Investments Olhgr inLY)rnp 2.275,635 1.291.020 5,621 2.694.B4B 21.666 4.970.483 1.312.6B6 5.621 Total incomg 3.572.276 2,718.514 6.288.790 Expandlturo on: Raising funds charitsb actiiqligs 331,327 2.146,768 19.139 533,656 350.466 2.62A).424 Total •xp•ndliur• 1478,095 552.795 3.030.890 Net1055es on investments (4.844,202) 131.1451 14.875.347) N•t Incom(•%p•ndItUrn) (3,750.0211 2.132,574 11.617,4471 TT8nsf8rs beton fvThJs {10.194) 10.194 Net rnovement in lunds (3,760.215} 2.142,768 11.617.447> ReconcllSatlon of lundx: Fund tsalans at l January 2022 53.971284 879.989 54.852.273 Fund balances at 31 Dee•mbw 2022 50.212.069 3.022.7S7 53,234,826 11
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) BALANCE SHEEr ASAT31 DECEMBER 2023 2022 Not•¥ Fixed ass•ts Tangible assets Investment proFwty In¥e51menls 11 12 13 4,677.395 2,480.(KKI 42.649.548 4.981,038 2.480,000 42.166,221 49..943 49.627,259 Curr•nt ass•ts Det4ors Cosh at bank and In hd 14 I.1.952 3.225.675 1.512,562 3.124,262 4.n7.627 4.636.824 Cr•dFtor•'. nwnts tslling ¥rtithin one year 15 936.738 1.029.257 Nel current assets 3,7W,889 3.607,567 Total •88•t8 1•88 ciwrnnt Ilab115U 53,597,832 53.234,826 Th• lund¥ of th• ¢hJrity Restricted Income funds UrTrslfthd knds 16 2,984,CM4 50,813.788 3.Ot2,757 1.212,069 53,597,832 53.234.826 The financid statements were woved by Iho trustees on ......................... Rev M Cryroran MHM Trust Company f9gistraon Thjmtw Ot)487520 (Erw and Wales) 12-
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash flows from op•ratlnq acir¥ftl•s Cash lab50tbed byygeat8d from operations {1,508,5331 Inv•stlng •ctl¥ltlo8 Purchase ol tangible fixed assets PrLr99d¥ frurn d1¥p1 e 8wIs Purrha8e of in¥eStnI& Prctt¥ds from di¥ppsal of invgstrrwts Investsment income (l¥e (13.} 434,207 (10,452,959) 10,364,052 1277.648 (12.810,379) 10.852.686 1.312.686 N•t cash g•n•ral•d fronV(u8•d In) Investlno activltlos 1,&)9.946 1645.007> c•$h us•d In lkn•n¢lry •¢tl¥ltl8# N•t increa5• in rash and cash equiTnlent3 101,413 321.637 Cash and cash equNaknts at begrmYvJ ofy 3.124262 2.&)2,625 Cash and cash •q¥lYal•nts •t •nd of y••r 3.225.675 3.124.262 13-
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng polkles Chartty Infomwtlon Charity For St &)seph's Misskln#ry Stictdy (GÉnèraIéI Is a priv8t# corTVafty limited by gu8rantee irKorprxa¢gd in England and Wales. Th rwslorwj ¢ is Po Box 3608, Sl JO50'S PariBh Centre. Cookham Road, M8Klenhe&J. SL6 7EG. 1.1 Aeeountlry eon¥•ntion The finanaal slalements hhve be rry¥ed aC£Ord wth lh¢ t•rity'8 9ovtiming drKuML the Comwn1 20C6. FRS 102 Fnwal Rel@ Standard applutAe in the UK and Republ of Ireland" I"FRS IOTI the Charit S(NIP -kcountij aThJ Reporting by Chathes". Statement of Recomrnendod Prath"ce applicable kj thareS propanThJ thèir 0jnts in acC(xda0 with the Finana Reporling Stsndard applicab in the UK aThl R¢puWi¢ of Iland IFRS 1021"1gffgrtwo 1 Jarwary 20191. The tharity is a Public B8n8t Enbty as dèfined by FRS 102. The fmanrAaF statements Bre Fryyared in slerlYKJ, is the lurthl of the ¢harity. M¢Thil•ry aThnts in tlwg finanoal statenwts aro rcArf&J lo wrgsl £. The finan(>al statements haNp been prep8Ted wjer the Pmslcrficd cost cOrNen1)n mc•JIf to incaude the fe¥xlu8tion Vestrrl properties cértain fwwmial at faw valug. wlndpal acrwnts" polirAes adopted a set out bebw. 1.2 Golng ¢tsnt•rn At the lin of approwro the financial staterne. the tnmtees have a reascrfth eXped8t that the cbArity adequate resou$ to ccntinuo in Opgfational OxBtor£ for tha ft)r8s8Oab futurg. th8 truBt888 contiroje to 8th¥t the 9cng coneem basis of aCL))uniwvJ Fry#ring the fin8neial slxtements. 1.3 Charitabh lunds Unreslricled turnys are av8lat4e lor us8 at th8 of Inffjlo9s In fvrthgranco rf thoir chaFbtab (.ctIves. Rosts1"ed fvnds C8n Y bè uwj p8rtKts $trIC PNWkJses within the ¢ierS of the chanty. Rèstn"dion$ •Fi8e when s[fied by the then bljnds are rai6od fcff parb&Aar r8strictsd purpos0$. Further expL4natr)n of tho naiwo and purKM)$0 of eh fund is inclLKd the notes lo the financial statemenis. EndowTnent ld$ 8re subject lo specific tmjitions by dCrf that Ihe capital mLtsI be m8intsw£d by t charity. 1.4 kncom• All income 15 rniSed n the Statement of Frcial once the tharily has etIerrn1 io the funds, 11 is probablg th the income wim be eNed a1 the arKJunl nasure rdi. The 1k)lng FdirAe5 rÈlatè to Ihè iiKh"vidual sourctss ol ine(Mne.' Donations aro re¢(Jni¥¢¢J whgn the Tw3t ha¥ bgen rKlified in wrilirvj of both the amount and the Beltlgment atè. Lègaoes 8re rèctsJttisÈd on a casè by e45è basis lollryir#J the grantry of Fxobale when the admini5tralor I gxoujlor kn Ihe eslate has cLJmmunutsd in wntin9 the amount aTrJ the setllement dale. Interest on funds held on deposrt is iThJuded WI rocgiv3LAg and Ihg arrK)ur)l (an be npasurwj Tdiably. DNidends arg recogThsÈd (ce the divKYènd has bèèn dÈdared *KI notilic8tkyi h8s been of the ¥idend due. Rontd recognksed tho pOr)d io wtr¥th it rolates. 14-
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 AKounting policies Icontinywdl 1.5 Exp•ndliur• LI8.11eS are re(wnSsed as expW%.lu as On 8$ thwe ts a W (x )nStruCtive ob1VJ81K Comm1ng the chanty to that exponditur8. it is Probab that a transfor (l oconc¥Trc bon8fits will bg required in settlfyrnenl and the amount ol the oblig8tton c8n te MSed rdwtty. Expendilure is accounted lor on an 8ccTuals bass and has been Glassified under that aggregale all rela19d to lh9 tJry. Whgro costs canNA bfy diro¢Uy attributfjd lo partTrcular ld"ngs Ihey have been alkrtaled to adn1"t$ on a basis consistenl with the use of resour5. Grants offernd suwt to CtkinS whth not t8n ai Iha ywond d aro as a c0m1trrt 1.6 T#n9lbl• Ilx•d ass•ts Talw1b fixÈd awts 8fe fnitiali measured 81 cost ond &thIent at cosl Yaluion, of d8preciation and Y IM4rMenI k)sses. Dweci8lKrf i8 recogni5ed so 8$ lo wiile off Ihe cost dassets less theT resth81 vaks over tteJ"r USgful livos on the folkmng bas6s'. Fetrd Lgnd and bLtththThJs Motor vehides 25% str8whl line Frgehcld land txiF(firbgs aro in Ccstant UBO in Iw1har of Ihg tharito L4Ktives are Mainta6d lo a slandar(I to ensure that th&r residu81 vdue not less than Ihe twjok v8lLte. Deweckqtion is therefore not prowded b895 that the assets Iwe a vwy ustrlul lrfe and the anK)unl of Y arUal dopr¥oat uld b8 vrffiaterial. 1.7 Invegtment propwtles Invest1 tKOPgriy 15 shryn at ft valuation. Ary yJrtyalg ?riThJ frLNn c¥tW in ff•rkel vdue Sho¥ Ihe SIaler ol Finantial Pdi¥ibes. 1.6 Impakment ot flxed assets At each rgporting end dato. Ihe charity reN10 IhB carying aThTh4nts ol Tt5 tangbl& assets to dgterrnine %thether th is any indution that those assets have an impairment kss. If any suth indication 8sts. the re(ttverable F1t ol Ihe 8Wt ts esbnwted m or(W lo detwnTh the exlgnt of the inwirmgnt loss Irf any). 1.9 Cash c88h •qul¥8lonts Cash 8ThJ cash eqlr1vall8 indude c85h hand. deF¢J9its hekl al call vAth bank5, olher short.lemi IbquHI investrnents wth cryina matunb&s ol thrfje moth 19$$. tsk Bank 0¥8rdrafts arg shown vAthn bOrr(mss in current lilib'o¥. 1.111 Taxatlon Th¢ drty b oxeftw Irom tax w its thila1¢ thibss. 1.11 Short temi dfrbtorslcredttors Deblors and ueditors wlh no intor8st rat8 whic I0ble wilhin rTh ye•r #ro r¢¢ofd¢d •1 Irans8dlon Ce. Any kns vising from are reCOgNs immeth8t m the Statement of Financial ALINth"es. 1.12 InvMlm•nt¥ Quotèd investments are slat•d in the finan statements At thw mArket ¥8 on tha balance sheet date. Mafkel Wdlue fgPTesents the mw&market value of quoted Wwest15 on the relgvant day. Thg rpwJlliry unrealed gJrplus (K dort is rJodiled debrted to ts ststerrI of FIrn(jaI fvd1vi1. 15-
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 D¢)n8tlons and l•gacl•8 Total L*¥estricied Restricted Tot81 fund¥ funds 2023 2023 2023 2022 OonalNJn$ Legacies re1Vable Masses sad Contnbutions from 626.028 76.S12 1.105 18,632 644.660 695.W2 76.502 3,377 isj 26,568 721,960 99,3TT 150 1,129.348 1.129.348 1.480,716 2,888280 4.148.996 1,832.983 18.632 1.851.615 2275.635 2.694,848 4.9TO.483 Inv•stm•nts Total Unrnstrl¢ted Re$trl¢ted funds 2023 2023 2023 2022 2022 2022 Dividends recofv8d Rgnts recesved 1224.055 23.025 25,282 1.249.317 23.025 1217.962 72.847 211 21.6 1,239,628 72.847 211 1.252.384 25262 1.277.648 1.291.020 21,666 1.312.686 R•l¥ing funds Total Unrnstrict•d R•slrtct•d funds Total fvnfl¥ lunds 2023 2023 2022 2022 bh'ci Fundraisin9 costs Inv8Stment MAnAgeMlI oxts 6,581 6,561 211.692 19.759 231,4S1 324,523 19,139 343.662 21B.253 19.759 2&8.012 331,327 19,139 350.466 16-
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expondltur• on chaflll• a¢¢O¥lll•s Charltabl• •ctiviti 2023 Charlt#bl• activitie5 2022 Dlreet Costs DeprecAatK inMIen1 Rent and Ta Insuranfz Lvjht arxl heal Tdgph)ne and COMcebo Printing, postage stat 2.519 41,269 2,274 37.644 3.047 18.880 24.151 15.772 27,234 25.136 16,296 k li Repairs an(5 mainiÈn•n¢o SunLtries Exchange galns I Icws Vi8ilatK>n TruJlep allcwances medic Trustee travd expen$os Goneral chapt8r and Assombfios Trav818nd exw)ses Office running o)sts Rector5 expSe8 Oth¢r rhwitabkn expBThknJe 72,911 39,524 120,195 37,1A1 80,990 44,498 37,832 141.193 6,017 82.451 5.885 32.421 36.258 1187.1971 20.445 40.7T2 24,258 55.455 144.634 7.811 58.427 767,555 341.123 Grant fund cl acvrtw ($99 rKée 6) 2,136,422 2.204.108 Shar• of support and gov•rnarrA costs {s•• not• 71 Support Govemani 131,650 12,756 135.193 3.048,383 2,680,424 Analysis by fund Vnrostri(tsd funds Resln"ded funds 2,988.117 2,146,768 533,$56 3.048.383 2,680,424 17-
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 3t DECEMBER 2023 Grants payabl• Pastoral a¢tivitl•s 2023 Pastcfal actNiti8s 2022 Grants lo institL#iorts: Mission fuThJ mi4sits suptmjrt Asian and African candJ8tes Rw¢wdl cour3 arKJ fvrtheT Ucat Other 228.390 936,994 803,896 77,196 89.946 251,149 934,588 718,032 106,516 193,823 2,136,422 2204,108 Support costs allocated to acllvltle5 2023 2022 Staff costs Prolessional fees Audtt fee5 Aeeounl#nryf¢•¥ 63,063 57,467 12,840 1,823 65,204 12,756 913 144,4 135,193 Analysed betn. Charitable ttleS 144,406 135,193 Trusttts None of Ihe Injstees any peryjns wilh Itw) Ixyved 8ny wum¥tion or benefit$ frLJM tho arity Ihe yw. TranSacOn wlth trust• During th& year the Tnjstees IMNJ and alk)wan¢es totdling £?1.3 12022: £23,900>. In •ddition, lh8 charity paKI trabyl Bxponses tolarj £46.224 12022.. £24.1971. The charty paid modical expenses tol811ing £2.103 12022". £5,072 reluThJl. The charity also wovides the Trustees with the use of vohido arKJ acxommodats.on Iindudiro Ihe paY1t of ¢Inl tsx, rates WM1 revant bills} ftjr Ihe Current and P¥OU finan¢K81 yoar. AJI these costs rOlatiC TrusteBS duties as rr3siwari85 rather than in relation to thw'r dulles as a Trustee. Employ••¥ Th9 avew ftlhty numtwol enww Ounw the ywbras.. 2023 H1b#r 2022 Numb•r AdJThnistrati¥o staff 18-
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Employè•s {ConUnu8dl Employmont costs 2022 Wagos arKJ salarfes Social securlty co8ts Other PeiC cosls 62.703 55,741 5,945 1,377 65,533 63,063 10 T•x•tion Th8 charity is exempt frcn tsx on 98W)s "r0 $tion 01 the Taxes Act 1988 or sectoon 252 01 tl T3xatK)n of Charyeable Gw'nsAct 1992 to thg oxtonl thal Iheso ¥9 appknd lo ils chwitabk otyects. 11 Tawlbla flx•d a8MI• FTr•ho141 IWMI and bulth96 Tol•l hlcl88 Cost At 1 janu 2023 A(Idits"ons Disr)sals 4.974217 42.707 5.016.924 13.0 13,1]IX) 1314,1241 1314.1241 Al 31 Oecertier 2023 4,660.(£3 55.707 4,71 S.800 D•prèel•tlthi and Imp•lmnt Al 1 J8nuary 2023 DepYeciathM charged n the ye81 35.886 2,519 35.886 2.519 Al 31 D¢con4)8T 2023 38.405 Carrying anKwnt At 31 2023 4,660.(83 17,302 4,677,395 At 31 Decèntsr 2022 4.974,217 6,821 4,981.038 12 Inv•stm•nt prop•rty 2023 F•lr valu• Al 1 January 2023 and 31 Decemter 2(r23 2.480,IJOO Tho UK propth was valugd cffl 1 May 2020 ty Knwt Frank bawl on ts W" ifsold as 8 srylè lot. 19-
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 FIX ass¢1 inveslments Liit•d Oth•r Inv•slments Invostmenls ¢t Or v•lu¥tlon At l January 2023 Adijitions V81uatK)n changes Disposals 42,029,951 10.452,959 394,420 110,364.0531 136270 42.166.221 10.452.959 394.420 110.3&1.0531 At 31 Decembor 2023 42.513,277 136.270 42,649.547 C•rrying amomt At 31 Deceer 2023 42.513.277 136.270 42.649.547 Al 31 DecBrrtJgr 2022 42.029,951 136,270 42.166.221 2023 2022 other investments conyise: Invostm8nts in 8ssouatBs 136,270 136.270 The chwtty has conlributeil £136.270 to mwnbw of T•NJw Cdly Icolhc4i¢ UrAvwwty of EastAfrKal an stItu used ty thè ordér lor tr.nry ArK1 e¢tIon ol raNIKIAtés lor priesthood. 14 Debtors 2023 2022 Am¢Junt¥ falling (kn within ¢)n• y•r. Othèr debtors Prepayments and 8oxued in(x)m& 1.466,771 35,181 1.512.562 1.501,952 1.512.562 15 Credltors.. •mounts fallng duo wlthln on• y••r 2023 2022 Hèk1 for Mlssions Other uedrt(Ks rual¥ and [jefed KNX 890.128 12.659 33,951 9r2.176 20.799 36.282 936.n8 1.029.257
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 16 RtrICI•d I(ts The rericted IJ3 of Ihe th8rtty ccXryi Ihe unexFeth b#lanc¢s of donal1# and on IFUSt 8uble¢l to speofic condittons by as to ITh ttw may t uwj. Ilov•m In ldI IrKomhi• R•6ouv¢•s Trnf•rn and la¥ws 31 O•¢¢mb•r 2023 B•l•ne• •1 Fent travel New menknr¥ Ward rrtal Vriland fijnd 129.482 748.262 10.389 2,134.624 18,632 25262 115.9001 164.1251 132,214 7(,817 10.389 2.134,624 17.898 120.480) 3.022.757 43.894 (80.0251 17.898 <20,4PIJ} 2,984.044 Fpnt Travel The Fent Trnvel ftmd r4)re¥ts money rec&bEd fty the pu[dse of trsl in IAission areas. WJrd Memorial The W8rd Wn181 serrt$ to for n(¥F•Jmini51rdtNe 0s Now M•mb•r¥ R•tir¥m•rt fund The New Member5 Reb"remeni fund reFYesenls ff#xMes rerniwl for Il p¥Ow¥V of fiwKJing mpmbgrB j06nin9 Sowty in what Weco Mission ar Vrilland lund T"S I repres¢rts nM)nios recwv&Y frcn the k41rhwng th8 sal8 of thè vry-lal. of whth 80% was to be irwested irrto an Thiestme portr01 arttl the f•nainirwJ 20% kn b¢ woni on thg tharitable expenditure. 17 Unrvslricted funds The unrestn.cièd fund ol tho tharity corryise the unexFthJ8d baanc8s of d(mlS grants which are rL)I subject to specrfK rxJndrtiCrfbS by donors and graniors as lo h¢)W they m•y b¢ u¥od. Th988 desh3n8ted funds wlich havo twpn set aw¢Je (xjt ol wre5trKted fiuvjs by the trusiees fcff 3peufic purposes. At t Januxy 2023 comlry RaUre•S Tr•nsf•rs Glrt¥ expended losses At31 December 2D23 General lurKIs 5).212.089 3.211.087 (3.206,370) {17.8981 414,900 50.613.788 Pr•vku$ y•ar. At l January 2022 Incomlng Rsow¢ts Tr*n$f•rs G•lns And ff•sourc•$ •xp•nd•d losses At31 D•Comr 2022 General fuThls 53.972,284 3.572.276 12.478,095) (10.1941 14.844,2021 SD.212.069 21
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 18 Analysbs of n•t •ss•ts b•tIn lunds Unrnstrict•d R•stricted fid nds 2023 2023 Total 2023 Fund b•lanC at 31 2023 •rn rWTwfjnt by: Tan9ible assets Investment properb.gs Inveslments Cuffènl alo11?$) 4,677,395 2,480,¢J)O 39.665.504 3,7W),889 4.677.395 2.480.1]00 42.649.S48 3.7W.889 1984.044 50.613.788 2.984,044 53.597.832 UN•$trk R•strlct•d funds lund8 2022 2022 Tot•1 2022 Funtt b•lan¢•s at 31 D•c•mb•r 2022 ay• r•wK•nt•d by: Tangible assets Investmgnl pk"85 Invo¥trngrrt3 Current assetsl{li&ilities) 4.981,038 2,480,m) 39.283,335 3.467,696 4.981.038 2.480.000 42.166.221 3.607.567 2.882.886 139,871 $0.212,(9 3.022,757 53.234,826 19 Related party transactio Duryw Ihe year the Chity for St Joseph's sc (Brib"sh Region) p over £508,360 12022 £571,816) in donaticn% to SUFP(Kt the Generalate's mi55in a'ties. At the ya¥ end. £283,730 (2022.. £334.8951 15 wknin débtors r81a"n9 to owed by th8 Chwity f(Y St Joseth's Missionary Sc¢th (Britrsh Reg$). Ajthough the 8rit15h RgyKJn and Ggneral¥t& (lo not Share any comnKJn Trustee4 ihey th work ckisety with eath ther and a deemed lo LE related p8rt$ for discloswe purposes. At ts year en(1, £10,520 {2022: £9,860) is •)dud&Y 7Mthfft deb1 181 10 8rrw)ts owed by Fleming Oun Trust, a charity wilh omyrn truBte8s.
CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 20 C•h g•n•rt•d from op•rat¥ons 2023 2022 Surpluslldeficit} lor Ihe ye•r 363,W6 11,617.4471 I1j1Mts tr. Investment income recowised in statenl of fwwKial ltieS Gw'n on disposal of tar4JitAe fixod assets Fair valuo g84ns and losses on inv8slnwls [Yepre¢i8l aThl imp•rmeni fixed assets 11,277,646) 11.312.686) 1120,0831 1394,4201 2.519 4,875,347 2,274 Movem¢nl$ in p*s1.. DecaSe11creaSeI in debtors Docroasel in cioditcfs 10.610 192.5191 1846,7651 (134.0791 Ca$h labs¢)tb•d byyg¢n•rnt¢d from Opwor (1,508.5331 966.644 -23-