The Order of Malta Volunteers Annual report and unaudited financial statements 31 DeMber 2024 09801949 (Engd atKI Waksl Chkn Regtratin Nurthr 1164242 (Ewand aThJ wa5) lllllllllllll AE5ZQWXL 03107r2025 ¢PANIEs IusE A10
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Contents Report9 RefererKe and admintstrative details Trustees. report Re[rt ofthe Indèp&thnt Examiner Flnanclal statwDents ststeffent offinancial xtNrties Balance sheet 10 Stalement of cash fith Pri1paI accounting leS 12 b)tes to the finanud sL*ments 15
C4ympanyRe8iStration Nwnber.. 09801949 Reference and adrninistrntive d•tah Year to 31 Oecener 2024 Tru%lMs Emily van Lr Jarres Pa¥ey lex offul Alèxander Perry Tabtha Brenninkmeiier Rotert Coke Sthn tvonald-Smith Marina Nthvland Fr. Stèphen Morrison Hugo Whyte IAèmbern Emity van Lr Thè AsscoatM)n of Bntish PAembers ofthe SthErebJn Kqilitsry Hospilaller Order of St John ol Jejusalem of Rhcths and Malta {BASMOMI Compny Seetsry Hannah Ly Jenr¥r95 m¥. Ex•eulh Clbalrnmn Cec4ia VLyfekJ Charlty Reglr¥ll¢)n 1164242 {ETrJland )d Wales) Regislered and Principal Offic• 13 Deodar Rc LoTrdc SW15 2NP Independentemrnlner guzzacy)tt A11 LLP 130 Street London EC2V 60L B•nk•rs C HO0 & Co. 37 Fleet Street London EC4Y 18T 20 Okl Bailey Lonth)n EC4M 7AM eslmenl •d¥iw¥ CCLA Instrnl Management Linited 1 ArvJel Lane City of LoThJon LoTrJDn E4R 3AB The Order of 14lalta Volunteers I
Tntstees, report Year to 31 December 2024 The trustees (who are also directots of the charilable cijmpany f the purposes of the Companies Act) present their annual reFQrt together with financial slalemenls of The Order of Maha vUThtee Ithe'chaTilable company. the'charty. or'The OMV) for Ihe year ended 31 December 2024. The financial statements have been prepared in aCCordare with the accounting policies set out on pages 12 to 14 of the attache financ1 statements arKI cornp with the charrtable company's goveming durnent, appluble laws and Accounting and Reporting by Charrties.. Statement of Recommended Prlice applicable to charrties prepanng their accounts in accordance wlh the Financial Reporting Standard applicab in the UK and Republic of Ireland IFRS 102). Structure. govemance and management ConstitlOn andbxkgmund The Order of Malta VolLTrnleers is a cLYnpany limrted by guarantee and a registered charity established on 30 September 2015 and governed by ts Meinorandum and Articles of The directors of the charilable compary are the tru5tee5 for the purpjse of charity law and thr¢ghoul this report are Collectvty referred to a5 the trustees. Thecharilabfe cryny ts a subdkiryofTheAssctiation of8ritish Members ofthe Sovereign Mi1rt8ry Order of Sl John of Jerusalem of Rtre5 and of Malta (-BASMOM'), a charitable ccnpany {Company Registration Number 05039938 arKI Charity Regislrntion Number 1103%71. The truslees con5N4er BASMOM to be The Ows parenl ctynp)y by wrtue of BASMOM hobji the m8jOFty ofvotirKJ lights. The Order of Maha Volunteers. ch8ritle objects are set out in ts Art$ of Association, and Incl.. the 1f of Itw)se in nJ", the servtt of the poor of Christ and the care of the sick and wounded: and the advanC£[t of religion arKI the promotKJn of gc¥)d citizenship in young people. Metht)d of appoIn¢nt of tmstees The trustees are in acCordanwh the Artdes ofASsocln. Trustees are normalty elected for a sixyeartenn. and ordinarity can seNe a maximum Of terms. There are certain exceptions for the Hospi1alr of BASMOM a trustee exclO. and an outgoing Exwrtive ChaimBn ofThe OMV. The tnKstees are required to consist of * least seven and not than 10 persons. The Orr of Malta Volunteers 2
Tntstees, report Year to 31 December 2024 Structure? governance and management (Continued) Tntsfees who seThed duAng the year to 31 December 2024 The following trustees served during the year ended 31 December 2024 and to the dale of this report.. Emty van L E¢)Ivard Pease jeS Pavey (ex olf) Alexander Perry Tabitha Brenninkme4er Robert Coke Siobhan Devonald4ThMth Marina Nthand Fr. Stephen Morrison Dr Hugo Whyte Oryanisation structurn anddeclskn maklng The day to day running of the charity i8 delegated by the tnjstees to The OMV Executive Chairman. who appoints organising conynittee to run activities and the charity's functions as required. The trustees meel four times a year {aTrJ ffK)re if required on an ad hC bas) to revtew progres5 and to moniti)r ClanCe wilh polws. and to revEw and approve plans for the year ahe&J. In rdance Atyth the ArtKles of AsSociatr. the trustees eknt a chair oftrustee5 from among Iheir tywn number, who presths over rreetings ofthe trustees. Inve5tmentpolky The OMWS investment policy is published on rts website and ts intended lo protect the real value of ts financkal assets wthile provKlirrfJ a stream of income lo support its charitable aims. Management is Sucontracted lo prOfeSsnal advisers. The OWS investments are hek4 in Iwofunds * cCL. the COIF Chanties Inveslment Fund arwjthe COIF Charities Deposit Fund. Any cash deposits are hekl wrth retail banks or in INuKIty funds. with the aim of maximLsing the re of interest Whi at the swne time protecting the capital value of such deposits. It 15 the Iru51ees' opIn)n Ihat the investrrnl$ hekl by The OMV are conStent with the stated pOIy. and that they are perfoming satisforily. Investment are in accordance wih the Trustee Ad 21]00 as amended from time to There are two main areas of rtsk within The OWsworf(". ¢)ne financial and the other stemming from the intertiOn of their YoAleel$ wr¢h people wth disabilrties. Financial risk is regularly examined at trustee meetings by revivmng bgets. In adilK)n, budgets for The OW$ main are set in consu#ation with The Ows Treasurer and Tha OMV Chairman. ) offr is empthvered to offer eryloyrnenl contracts wihout the prior approval of the trustees. The charty currenty has Tr) employee5. The Order of Malla Volunteers 3
Trustees, report Yearto 31 DeCernb 2024 Structure. govemance and m•nagement (continued) Risk management fconlinued) Wrth pect to the actsvities organtsed by The OMV. poIleS have been put in place cowing Heatth and Safety and the Safeguarding & protli0n of Children aTrJ Vulnerable Adults, by which all volunteers musl abe. Risk assessmènts have been drawn up assessing Ihe Charitab eompany's potent1 exposure to Iwbility and pOlS for risk mrtigation have been put in place. RL8k managent and dher are publtshed on The OMVS website. omv.¢xg.uk. Volunteers andsupporttts A signrficanl number of people work as VOnIeS at durirwj the year. mainly on the pilgrimages to Lourdes and eL%ewhere. and on fundraising events such as the White KnKJhls Ball. The trustees wi%h to record their recognition of the professionalism and commitment of all the volunteers and the hjyaty ofth&r suppthtsrs. Their generosty 8rKI hard work are v much appreciated. KeymanagemtpetsOnne1 The charity ha5 no paKI key managenl pene1. admintstsalion of the charty managed by vdunteer5 on The Commrtlee ar by the trustee bDard. The key rnan&Jement personnel of the charity in charge of conlrollirv4. njnning. and operating the charity on a day lo day basi5 comprise the trustees and The OMV Committee. No trustees or commrttee mernber5 were remurwated for their seniices during the year. Trustees are entitled to the reimbursement of any reasonab expenses irKurred in carrying OLrt the business of the charty bLrt are eourn9ed to keep thwr expense dairr6 to a minimum. No trustees. expenses were reimburs&Y durirwj 2024 {2023- nir). Publlc benefrt The Iruslee5 eonfffm that tw have siven due regard to the Charity Commissh)n's guidance on public benefrt when reviewing the Charitab ccmpany's aims and pLqnning its objectives. The OMV meets its obh.gath to provKle a bent by working wrth arby<e in need regardless of race, creed, gender. sexual Orntat or cok)ur. Church Se are open to the publ. and pilgmiages do not discriminate &3ainsl appIrtts in any way. In addition. scffne of the members see as trustees of other relat chanties with demonstrable public benefft, such as BASMOM. tt is estimated that The OMV members and volunteeTr undertook appr0matelY 22.OtK) hours of voluntary Servi lo promote The OMVS charitable aims the weffare of the general pthl The Order of Maifa Volunteern 4
Trustees. report Yearto 31 t)ecember 2024 Activities. achlevements. and financkl rnvlew The main activrtie5. by the charitabbe c<Mnpany seeks to fulfil ils charilable ObjIs, are listed bekn¥. • the Juty pihjrimage to Lourdes: • an Easter plrIMage a summer camp for pwjle with disabilities in Lebarn.. • Chiislmas reunton at l*Vorth Abbey" • a de18galion sent to the Order of Malta's International Camp.. • raiyng mow lo furid Ihese actP4itses at Vthite Knuhts 8all. Review of chwitable activiiles The OMWS main Charitab activitses this year were the pilgrimage to Lourdes taking Pla in Juty. the Intemational Holiday Camp in Switzedand, the Walsingham Pilgrimage and the Christmas ReunK)n whth tL¥)k place as usual at Abbey. There was also the OMV50 celebration to Ma 50 years since the fourmlation of the OMV which saw more than 250 present and past VOnteerS come togelher for a teunion in Central London. Flnanclal review The Mlh(te Knights Ball place in January 2024 and generated a surplus of£75.394. The OMV incurred an operating def1t of £87412023- £40.392) after charging govemance and support costs of £26.219 (2023 - £28.2251. The cperaling SLtrplus for Ihe year was increased by Unrealj gains of £1S.264 on changes in the market value of the charity's investments and overall a surplus for the year of £14.390 was generated {in 2023, the OFerats"ng surplus was increased to £17,346 by urbrealised gains on the market value of the harity's inveslnRnl portfolbQ of £57.7381. ReseeS policy The trustees have examined the requirements for reseNes in luht of the main risks lo The OMV. The trustees have established a reserves p)licy lo prolect The OMV an¢J its long-tenn charitable ¥tM"Ibes by prwding ts.me to adj.ust lo changing finarLial circurytstsnces. The trustees have agreed that rt woukl be in the best interests of The OMV lo conlinue to manage the general fund to supp)rt rts fuiure Charitab activrties and provide the charty wrth an asset base lo alkx for its bng tern sustainabilty. The general fund has in recent years in¢ased due to gains on the markel value of its inveslffents whh have covered planned deficits from the ehanWs primary Charitab activities. The Order of Malta vonteerS S
Trustees, report Year to 310ecember 2024 Resems policy (eontinuedl At 31 December 2024. the general fund had grthvn lo £823,479, which represents the net surplus on operth.ng actNikn"es and investnRnt gain$12023 - £809.0891. Of Ihe total general fund. £690,947 (2023 £675,683) is represenled by the market value of the charity. inVestnnIS, excluding cash hekj by t8 investment mer. Minimum level of resejves In consKlering the minimum tsrget level of reserrfes. the trustee5 he considered the fdltrwing= The OMV may expect to trw)st the Order cl Matta's annLbal Intemalrjnal Holiday Camp once every e3h1 lo len years. This event typulty requires a separate major fuThJ- raising campaNJn. The TnJ5tee5 would exp1 the costs to be mel mostty from funds raised sperificalty for the purpose. However. the Trustees feel it is prudent to include a contingency in their reseryes of £100.OCQ. The Charity will mainlain addibonal reserves of £100.0 which 1$ broadty equw8lent to the aggregate Unrestred ine4yne that the Charty could expect to receNe from the Whrte Knights Ball in a year. Of these "minimum reserves. of £200.000 the Chanty will hold at least £100,000 in the form of either bank deposrts Iwrth a malunty of no more than three months). liquid money market instruments {IlUding AAArfated Ih]uidty funds) or cash (including, for clwity. ils bank current acc1). The reserves we hokl in excess of minwnum levels enable us lo keep Pr pahJ by volunteers at apprcpriale levds, to offer financial Sup[ for those who could not otheN•ise afford them, and to explore oppthjnities for new th[t. Fundraising The OMV does not actNety solrt donat¥Jns from the public. irsslead using its cNn members d the wKler Order of Mana network. The OMV is theAefore not registe wth the Fundraising Regulator and not subscribe to any fundraising codes of practi. When donations from indivhluals are r1ve, The OMV aims lo protect personal da and never sdls data or swaps data wrth other organrsalions and undertakes to ieact to and investige any complaints regarding rts ru1[alS1ng actNities and to leam from them and improve ils servKe. During 2024, The OPW receNed no compLgints knjl its fundraIng actNities. Pt balance sheet events, fulure plans and wng ¢on¢em The main fundraisirvJ event, the White Knights Ball. took P in janu 2025 and over 1,000 penple attended. The main charitsble actmties.. the pl5riM0ge to Lourdes, and the International Holiday Camp will tske in 2Lf25. Regrettabty OMV will not send volunteers to the summer camp for Fecple wilh dtstJ)ilrt*s in Lebwon in 2025 due lo the predtable securty situation in the regwJn. As part of theirassessment of goiro concern. thetrustees have considered vthetherthe charity has equate resource5 lo eonlinue in operational existence for the foreseeable future. As noted in Ihe Reseryes Policy atKJve. Ihe charty has buill up a general fund over recent years that provides it with assets arKI 14uid funds to ensure its fulure sustsinabilty. The OMVS charitsble actwities are run to make planned and managed deficits, and the tntstees conshler that The OMV has suknnl cash res$ to cntIn as a going concern for t fOeable future. The Order of Malta Volunteers 6
Trte8s, report Year to 31 December 2024 Statement of trustees. responsibilities The trustees I0 are also directors of The Order of Malta Vdunteers for the purposes of cclnpany lawl are Tesponsible for preparing the trustees. report and financial statements in accordanee wth applb and Unrted Kingdom Accounting Stsndards (Unled Kingdom Generalty Accepted Accounting p1). Company law requires the trustees lo prepare finarKk4 statements for each financial year whh gwe a true and fair vmv of the state of affairs of charity and the income and expendrture of the chanty for that period. In preparing these financial sLments. the trustees are wuired to". ¥eknt suitable accAJunting pl4leS and then apply them r1$tentty. obsepde the methtJs and prirrip in the Aetsjunting and Reporting by Charities Statement of Recommended Prxtice appluble to charib.es preparing their financial slatemenls in )rdance wth the Financ1 Reporting Standard applicab to the Unrted Kingdom arKI Republic of Ireland (FRS 102)" • make judgements estimates that are reasonable and prudent stale whether applUb United Kingdom Accounting Stsndards have been followed. 5ubjecl lo any material departu$ di10$ed and explained in the financial slatements" and • prepare the ffinarKial stments on the going concern basis unless it 15 inappropriate to presurn that the ¢harty wll continue in operatA)n. The trustees are responsible for keeping proper a¢countiThJ records that disclose with reaSonae xcuwy atary time the financial wsition ofthe charity and enable them lo ensure thal the financial slements compty th the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps to prevent and detect fraud and other iffegularities. The above report has been prepared in acC¢ydan vthh the special provisions of Part 15 of the CompanEs Act 2006 relating to small cOmpans. This report was approv&J by the trustees and signed on the tehatf by.. ¢JAfid¥PwrylJthi l•.a10*T1i Alexander Perry Date 1810612025 The Order of Mats Volunteers 7
Report of the indewndent •xaminer Year lo 31 December 2024 Independent eXamS report to th• tnltts of Thè Order of PAalla Volunteer5 I report lo the charity trustees my examination of Ihe financial statements of The Order of Malta Volunteers (the'charitable rmp•'> for the year ended 31 Dember 2024. Responslbllltles and basls of report As the trustees of the Charitab company laTrJ also its direcloTS for the purposes of company l&v). you are resp)nsible for the preparal)n of the financial stalemenls in accordance with the requrements of the Crynies Acl 20[ ('the 2006 AcY>. Having sattsfied myself that the financial statements of the chafitsble company are not required to be audited under Part 16 of the 2¢J)6 Act and are eligible fof independent examinatk?n. I report in respect of my examination of your charity'5 financial ststemenls as carried out under section 145 of ltre Charities Act 2011 Ilhe 2011 A¢l'l. In rryIng out my eXarnIatn I have folknwed the DirectIn$ given by the Charty Commission under section 1451SI{bl of the 2011 ACL Independent exarninerfs statement Since the chariL)le company's gross income exeded £250.OW your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirni that l am qualffied to Ltndert8ke the examination beuSe l am a member ofthe Irtstitute ofChred Accountants in England and Wakn. which i8 one of the listed bodies. I have eomplebj my examination. l confirm ttwt no matters hw4e come lo my attention in Connection with my examination gNing me cause to belve" accounting records were rt kept in respect of the Charitab ¢anY as required by sect*Jn 386 of the 2C Act: or c. ltre financial statements do rM)t xcord wilh those rec(d$., or d. the financial ststements do r¥)t compty wrth the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements gwe a 'true and fair vievl Wffih is nol a matter conwdered as part of an independent examinalDn: or e. the firnal statements have not been prepared in acCrdan with the methods arKI principles oflhe"A¢counting and Reporting by Charities.. the Statement of Recommended pra appluble lo charit$ preparing their a¢ntS in accordance with the Financial Reportir4J Standard applicable in the UK and Repubh"c of IreLaTrJ {FRS 1021. I have no conwns and have come across no other matters in connection wrth the examination lo which attention should be drawn in this rert in order lo enable a proper understanding ofthe awunts to be reached. Gumayd Miah. ACA Buzzacott Audrt LLP Chartered Accountants 130 Wood Street London EC2V 6DL Date: 20 June 2025 The Order of Marta Volunteers
Statement of financial a¢tivilie$ 31 December 2024 lincorporaling Ihe income and expenditure *count} UnTrstrl¢tsd lund$ Total 2024 Total 2023 Donati$ Trading acbvit Charilable a¢Me5 Investment inc4)me Total income 7.709 226.887 142,666 26,653 403O95 5,175 206,889 116,118 25,092 353,264 Expendilure on: Raising ldS Charitst4e actsvit5 Totsl expendtur• 5 1148,3811 1131,5671 6 1256,3881 1262,0891 {404,7691 1393,6561 N•t•Xpff1luTo 101• ylns on In¥eslments Net gain on inv&strnents N•t Incom• and mo¥•meTrt In funds forthe yur (8741 15,264 14,390 140,3921 57.738 17,346 RKon¢lllatJon of funds: Funds bf(Xb3htfward at 1 January 2024 809,089 791,743 Funds carrl•d at 31 O•¢•mbei 2024 823.479 809,089 All xtNities derr4e Irom continuiNJ operations during the above two ffinancial periods. All recognised gal ar•J losses are induded in the ab)ve statement of financial acliwties. The Order of Matta Volunteers
Compw Rry5tration NuHJbtr. 09801949 Balance sheet 31 Decemr 2024 2024 2024 2023 2023 Noles Fixed a88ets 1nstm&nts 8110,994 810,219 260 91.U9 68.697 160.S96 Debtors Cash at bk aThJ in haThJ 31.950 129.432 161.632 Creditorn.. amounts tsIM¥J ( wthin year 10 1139.14n 1161,726 Ngt ¢urr•nt 11,1301 823.479 809,089 Th• funds olth• cl4rfty: UnreslntsJ fvndg.. Genera fvThJ 11 823A79 809.089 823A79 809.089 For Ihe yw ended 31 December 2024 the ccthpary was entitkd lo exemplK)n from audit under sect1 477 of Ihe Conyanies Acl 2( fthe Act") relating to small companies. The members have not required the CoffnY lo obtain an audit of its financial statemnls for the financial per in question in aCCordar writh section 476 of the Act. The Iruslees acknowledge their respLSl ilities forcomptyingwilh the requirements oflhe Act wrth respect to lunting records and the preparation of financial slatemenls. These financi81 SLernents have been prepared Mi &cord&)ce with the provisions applicable to CoMpanS subject to the small companies, regime. The financ491 statements We approv&d by the trustees and swJrd on Iheir behatt by: tPwtyiJufi 19.1015QPJJW*Jl Datè.. 1810612025 The Order of Malta Volunteers 10
Statement of cash flow5 Year ended 31 Dember 2024 2023 Notes Net ¢ash provlded by l (ed In) opeTrtlng thiltl•s 9,593 13.1471 N•t ¢ash provld•d by Invtstln9 •Ctl¥lleB 2853 25.082 Change In ¢ash and Cash equivalents 36,246 21,936 Cash and ¢ash 4qthal•nts at 1 Jam4ry 203333 181.298 Cash and cash l•b)ts at 31 Cl•c•mber 2024 239N79 203.233 Notes to Ihe statement of cash flo for the yearto 31 Decembei 2024 Reconciliation of net income to net cash flows from operating activities 2024 2023 Net inoyne Adiustfflent5 Gains on InNBsimtnts Investment incKJn receNab De(xeas6 in ¢tsbtors IDecrèasè} l iwèasè in Lyvthknrs Net cash provided by I lu8ed inl opBraling acli¥ili•s 14.390 17.346 115.264) 126,6531 59.699 122.579) 9,593 157,7381 125.0821 23,769 38.538 {3.147) Cash flows from investing activities 2024 2023 Investing ae1i¥rt• Investrnent int)) rece Net c•sh pro¥ithd by irhvejliry acti¥itrgs 24653 26,653 25,082 25,062 Cash and cash equivalents 2024 2023 Cash at bank Cash hekl by iAvttstrn8nt m1 81 Totsl 129,432 110.047 239.479 68,697 134,536 203,233 O Analysls of changes in net debt The charity has no exiemal debt finance. The char¥Je in net debt is therefore represented by the change in cash and cash equiwaknts. The of Malla Volunteers 11
Prfnclpal accountkng policies- Year to 31 December 2024 The principal 0nting poh'cs. adopled judgements and key Sour of estimation urKertainty in the preparation of the financial statements are labd out belw. Basls of preparatlon of financlal stalements These finCial Statnents have been prepar&J for the year end&J 31 December 2024. Thefinancial statements have been prepared underthe histo1 costconvention wf(h items InrtlIY rwnised at cost or tran&tKsn value Un$S clherwk%e stsled in the relevant Junling polry ncle. The financLal statements have been prepareA in aceordance with Accounting and Reporting by Charrties.. Statement of RecommerKleJJ pract applb to charitie5 preparing their accounts in accordance with the Financial Reporting Slandard applicable in Ihe UK and Republi¢ of Irend (FRS 102) I'charrties SORP FRS 102,1 the Financial Reporting Stsndard applubfe the UK and Republi¢ of Ireland IFRS 102) the CompanEs Act 20CI6. The charity conslilutes a publ benefft entty a5 defined by FRS 102. The financial statements are presentaj in sterlirvJ are rounded lo the nearesl pound. Critical accounting estimate5 and areas of judgement The preparation of financial 5tstements requires the use of certain CrItal accounting estimate5 andjudgemen15.ll aL80 wuire5 the trustees to exercisejudgemenl in the process of apptyir¥J accounting polKies. Estwnates and judgernents are conlinualty evaluated and are based on historical experience aTrJ other facto. including an expectation of future events that are believed to be reasonable under the circumstances. Alihough these estimates are based on the trustees, best knowled9e of the amount. event or actions, actual resums may drfrer frcqn those estimates. Areas requiring the use of estimates and ulticallemerttsthaf may inpacl on the charty's financrdl actMtie5 and financial position include the trustees. use of investment managers to provide valuatws of the inve51ment portfolio. The vaalI?n$ are based on bid pnc4s where available or mKknrkel prices if not. Assessmenl of golng concem The trustees have assessed wlther the use of Ihe going coeM assumpts'on is appr¢)priate in preparing Ihese accounts. The trustees have made Ihis assessment in respect to a Fer of at leasl one yearfrom the date of aFproval of these accounts. The truslees of the charity have no¢ identified any merial uncertainties relating to events or conditions that may cast signfvant doubl on the a.Ity of the charity to continue as a going concem and have therefore condLMJ&J thal it is appropriate forthe charty to continue to prepare its accounts on the going concem basis. Income IrLome is recognised in the peri(xl in whh Ihe charity has entitlement to the irKome, the amount of income can be meaSUd relHbly it bs pIrthb that the income will be received. IrLome is deferred (ty when chariy has lo fulfil conditKffls before beccffiing entitled to or where the doncrf or funder has slfd Ihat the incm is to be expended in a future unlmg perirAI. Donatn$ and legacies ccryrise genwal. rspeC donations ard legacies., trading income consists of inceme from furKlrai%ing events and tradiro actrwits', and income from eharttable actwits irtludes dcallOnS and inc41me from fund ratsing aCtNit$. Income fffjm donatn9 i8 rec4nts&l ¥1 the perm* in whh the chwty becomes entiued lo the dcffjation and where receipt is PbabIe and ils amount can be measured liab. In cordance with the chariti.es SORP FRS 102 voknnteer time is not recc4Jnised as income. The Order of Matta Volunteers 12
Prfnclpal accountlng policies-year to 31 t)ecember 2024 Income Icontinuedl Income from trading and xtivitses includes the income from fundraising events and sponsofship. Such InMe is regnISe1j to the extent that it is prtsb8b that the economic benefits wll fl(w to the charity and the revenue can be reliabty measured. It 1$ measured as the fair value of the consideration receNed or recep4able. excluding discounts. rebates, value aclJed tsx and other ss laxes. Inveslment Inco comprises dNiderbds and interest on the char$ portfolio of investments. Dividends are recc•Jned onthe dmdend has been dead and the charity has recewed notif10ft that dTriKlend is due. Interest on the chanS investment p(wttolio arwj lunds hekj on deposit is recogntsed when receipt probable and the amount can be measured relbBbty using effective interest method. Expenditure Expendtture is rwnised 0ethere 15 a legal orconstrwtpR oblwatK>n to make a payment to a third paty, r¢ is probabk that a transfer of econorn benefrts will be required in settkment and the amount ofthe objigathjn can be measured reliabty. Ail costs are incluswe of Irrverable VAT. Expenditure comww direct costs and sw)port costs. Tr classtson beWeen actMtI8S is as O Expendrture on raising funds incIeS all e>pendilure asscoaled wrth raising furKls for the charty. This includes Ihe direct costs aSslated with fundraising event$. No allctalion of support costs is made against these actNilies. • Expenditure on chanlable actplities CLvnpfi5es expenditure on the charity's prirrory charitabke purposes. costs that can be alktaled direcdy to the charilable adwiti'es and support costs. Support and govemance costs Support h$ts represent indirect charitable expenditure necessary to carry out the primary purposes of the charty Govemance costs cOryre the costs relaknj lo the publt xcountsbilty ofthe charity costs in respect of its compliance wilh apptib gUlatIn5 and gooy practice. Fixed asset investments The eharrty's investments in quoted shares and similar investments are initialty measured at cost and subsequentty at market value. Investment gains and k)sses, whether realised or unrealised. are recc3nised in the sLeMent of financial activilies in Ihe pericd in lch they Investments are recognised and derecc4Jnised on the Irade date where a purchase or sale of an inveslmenl is made under a contr&t whose lems require delivery of the inveslmenl thin the timefrarne established by the markel concerned, arNI are initialty measured at Cost. Iruding trans&ts"on costs. The of Matta voluntee 13
Principal accounting policies- Year to 31 December 2024 Financlal assets and liabilities Financial assets and financial liabilities are recognwl in the baknce sheelvthen the charity becomes paty to the contractual provEw)ns of the instrument. Financial ifbStrum•Thts The Charty onty hobys basr financial rnslruments as defined in FRS 102. The financial assets and financBI Iwbilities of the chty and their measurement basis a as follows.. Financial et$ - accrued incoffe and olher deblcrfs are basic )Inancial instruments and are debt inStrUts rI5[ed * amortised cosL Prepayments are t rinancial instruments. Cash at l)ank- clasgfied as a bas finarKial ItruThnt aNJ is measured at fac£ value. Financialliablth"es-accruaLs and othercTedrtors are financial instruments and are measured at amortised cost a5 detailejj in note 10. Deferred incijme i8 not deemed to be 8 financial liabilty, as the cash settlement has already taken plxe and there is an oblallOn to deliver service5 rather than cash or ather finala1 instwment. Debtor5 Debtors are init¢alty reccgnised at their Sement amount and Subsequent at amortised cost ¢X their recoverable anKMJnl. Impaim)ent provisions are recognised when there is objethe evrdence, such as significant finartial drffUttles on part oflhe counlerpaty or defauh or a signfftanl detsy in payrrÉnl. that the charity wll be unable to collect all of the anM)unts due. Prepaynnts are val at the amunt prepaKI. Cash al bank and In hand Cash at bank and in hand Presents such accounts and instruments that are available on demand or have a maturity of less than Ihree nnthS from the date of xquisition. Cash held by the investrnent manager ts included as part of the carng value cl investments on the balance sheet, bul is access?le demand and therefore consthred to be a cash equivalenL Creditorn and provisions Creditors and provisions are recognjsed when there is an ob1jation at the balance sheet date as a resutt of a past event. rt is probable that a transfer of economic benefrt will be required in settIerrn1. and the amount of the settlement can be rured or estwnated relbty- Creditors arKI provisions are initralty rwnised at fair value, teing the amount the chanty ants"cipates it wll pay lo settle the debt and subsequentty al amortised cost. Fund accounting General funds represent those monies whh we freety available lor application towards achieving any charitable purpose that falLs within the charity's charkable objects. Order of Platta Volunteers 14
Notes to tho financlal statements- Yearto 31 DecLrthr 2024 tlonations Unreslricted funds Totsl Total 2024 2023 Donations 7.709 7.709 5,175 5.175 2. Income from Iradlng actlvilies Unreslrlcted funds Total Total 2024 2023 Vthrte Knights Ball Trading income- other events 211.219 15.648 226.867 206.889 206,889 3. Income from charilable aclivill¢G Unrestrlcted fund5 Total Total 2024 2023 IntemaaI Holiday Camp {Delegatk)n) Lebanon Lourdes Reunions 1O18lsingham 102 129.289 5.730 105 142.666 10,942 96,578 3,698 116.118 4. In¥trn8nt ifbcom• Unrestrlct•d funds Total Total 2024 2023 Investment incthne 26,653 25.082 25.082 The Order of Plala Volunteers 15
Notes to the flnancl•l ststements- Year to 31 Deceffthr 2024 S. Expendityre on r4ising funds Unreslricted fvnds Total Total 2024 2023 IAlhite Knpjhts Ball Matteser magazine Fundraising- other events 13S,825 109 12.447 148,381 131,031 131,567 6. Expendilure on Charilable adivities Unyestricted funds Total 2024 Total 2023 Activities undertaken divecty Internatn?1 Holiday Carr41 (Dekgation) Lebanon Lourdes ReunKJn Walsingham 16A64 11,133 29,877 187,255 208,627 5.078 535 233,864 230,169 Support costs Generdl support costs (ind. printiThJ. website. bank fees) Govemance costs lincl. insuwce, accountancy. kgal fee51 12,891 13,328 26.219 13,425 14,8 28.225 256.388 262.089 7. Staff costs, Inth expenses and remuneratlon of key management petsonnel The Order of Malla Volunleers has no pa emph)yees and has therefore incurred no personrlel costs during the year. The key management personnel of the chanty in charge of controlling, running, and operaliThJ the charty on a day lo day basis c¢impnse the Executive Chaimwn, the OMV Committee and the trustees. No Intstee5 were renyjnerated for their services or rewnbur5ed ary expense5 durng the current or prior year. The Order of Volunteers 16
Notes to the financial statements- Year to 310&ember 2024 8. Inves¢meThts 2024 2023 Llsted invesljnents: Market value at 1 January Gains arising due to changes li mafket vae Martet value at 31 December 675.683 15,264 690,947 617.945 57.738 675.683 Cash hekl by investment 110.047 134.536 800,994 810,219 I listed in¥estments were dealt with on a recognrzed stixk exchange. Listed investments comwtsed the fdlrywir•J as at 31 December 2024: Market value portlollo COIF Charities Investment FuThY Inc(Kne Unts 690,947 100 Debtots 2024 2023 Prepayments and acc 1Cne Sundry Debtors 25,530 6.420 31,950 74,144 17,505 91,649 10. Creditots: amounts falllng due wlthln one year 2024 2023 AccruaLs and dderred vKor 139.147 139.147 161.726 161,726 Iluded in accruals and deferred inccxne are monies TeceN&J in fvanee lotaling £130.077 the Vthrte Knhts Ball that took pe in January 202512023- £152.045). The Order of Mafta Volunteers 17
Notss lo the financial stat•ments- Year lo 31 December 2024 11. Statements of funds At31 At31 2023 Komo Expend*ur• galns 2ts24 e09,089 40489S 14H76¥ 14264 a23,479 1404,7691 14264 833,479 At31 At31 Tmnsfersl D8cemb8r 2023 791.743 353.264 (393,656) 57,738 791.T43 353.264 (3916561 57.738 809.089 11 Anaty5 of nel assets funds Total lunds 2024 fd5 furK15 Fund balance5 at 31 December 2024 •re represenied by: Investments 800,994 Totd current assets 161.632 Credrtors.. amounts due within one yew (139,147) Total net assets 823.479 800,994 161,632 (139.1471 823,479 Total fuThJs 2023 Fufkl balanc&s at 31 December 2023 are r8pres8nl8d b Investments 810.219 Total cuffent assets 160,596 cdItors. amounts n year (161.726) Total nftt assets 8t0,219 160.596 (161, 726J 809,089 13. Taxation The Order of v0teerS is a wistered charity aTrJ therefore is liable to income tsx or corporation tsx on irttime derived from its charitable xtNits. as (( falls within the various exempt$ avaiknle to registereA charit. The Order of Malta Volunteers 18
Notes to the financial statements-yearto 31 December 2024 14. Related parties The ¢haritsble ccryany is a subsvJi•y of The As%10n of Brrti%h Members of th8 SoverevJn Milrtwy Order of St John ofJerusalem of Rhodes and of Matta fBASMOM). The company has taken •Jvantage ofthe exemption in section 33 of FRS 102.'Relaled Party Disclosures., from the requirerrent to disdose transacticffls with group companies on the grounds that consdidated financial StatRnts are prepared by rts immediate parent. In the year endgj 31 December 2024. there have been no related paty traactsns Ihal requre dlOSure. l& eMls. liabilty Each member of the charitable ccmpany uThJertes to conlribLrte to the assets of the company in the event of it being w¢)und up Whi helshe is a member. or within one year after helshe ceases to be a rrember. such amount as may be required. r¥)t exceeding £1 for the debts and lJilrties ¢ontracted beth h&he ceases to be a member. 16. Ultlmale parenl undertaklng and controlllng party The Iruslees regard BASMOM, a charity Wi8tered in England and Wales. as the uttimate 8rKI imme¢Jiate parent entity. Copies (rfthe parent's consolidaled financial st*ements can be ¢)btained from BASMOM. 13 Deodar Ro•J. London, SV115 2NP. This is the largest and srr4llest group for which grwi accounts are prepared. The Order of Malla Volunteers 19