ST JOSEPH'S RETREAT IHIGHGATE) CIO
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST DECEMBER 2024
CHARITY COMMISSION NUMBER:
1173084

ST JOSEPH'S RETREAT IHIGHGATE) CIO
FINANCIAL STATEMENTS
FOR THEYEAR ENDED
31ST DECEMBER 2024
Contents
Reference and Adminislrative Details
Annual Report
Independent Auditor's Report
Statement of Financial Activities
Balance Sheet
Statement of Cash Flows
Notes to the Accounts
Pag•
10
12
13-19

ST JOSEPH'S RETREAT (HIGHGATE> CIO
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees
Father Terence Anthony Doherty (Resigned 20 February 2024)
Father Miroslaw Lesiecki
Father George Kolothumveettil Antony
Sister Mary Philomena Bowers
Father Paul Francis Spencer {Appoinled 20 February 2024)
Falher Thomas Rocky Kanjarathungal (Appointed 20 February 20241
Key Management Personnel
Trustees (see above)
Prlncipal address
St Joseph's Retreat, Highgate Hill,
London N19 SNE
Bankers
HSBC UK Bank plc
Level 6
71 Queen victor￿ Street
London
EC4V 4AY
Auditor8
Xeinadin Audit Limited
5 Robin Hood Lane
Sutton
Surrey
SM12SW
Solicitors
Sintons LLP
The Cube, Barrack Road.
Newcastle Upon Tyne. NE4 6DB
Legal Status
The CIO is a registered charity (no. 1173084) governed by a Constitution.
Page 1

ST JOSEPH'S RETREAT (HIGHGATE) CIO
ANNUAL REPORT
The Trllstees of the Charitable Incorporated Organisalion ( the CIO") present their Annual Report and
Financial Statements for the year ended 31 December 2024. The accounts are prepared in accordance with
the Accounting Regulations set out under the Charities Act 2011, and with the Charities Statement of
Recommended Practice applbcable to charities preparing accounts in accordance with FRS102.
Structure. govornanco and management
The name of the CIO is St Joseph's Relrea! .(HiAh￿a!e)..r1.Q.. It ig. rogist8red with thg..¢.harity. Cw¢miFjsion
Lnumber 1173084)..
Constitution
The property of the CIO is vested in a trust, govemed by a declaration of Trust dated 17 May 2017,
The Board set the overarching strategic approach and policy framework within which St Joseph's operates.
The board of trustees meets monthly The Parish priest wilh the support of the Finance Committee, Parish
Council and other volunteers carry out the daY-l￿daY management of the charity.
Appoinlment and training of frnstees
Apart fiom the first charity trustees. every trustee musl be appointed for a lerm of 3 years by a resolution
passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as
charity trustees. the charity Iruslees must have regard to the skills, knowledge and experience needed for the
effective administration of the CIO.
Sl Joseph's has a standard induction and training programme for all new TTuslees. This includes meetings
with members of the current and any outgoing members of the Board of Trustees. New trustees will also be
meeting key volunteers and taking part in visits to learn about the work of the Charity. Trustees are
encouraged lo tske up the opportunity to attend relevant external training courses arKI conferences.
Key management personnel
The key management personnel of the Charity as listed above are responsible for the running of the charity
on a day-to-day basis. All members give their lime freely and no member received any remuneration in the
year, including reimbursement of expenses incurred in Ihe normal course of the charity's operations.
The pay of all staff is reviewed annually and nomially increased in accordance with average earnings. Pay
awards are benchmarked In line wilh another similar charity (the Archdiocese of Soulhwark).
Risk management
The Truslees believe they are aware of the major risks lo which the charity is exposed and that controls are
in place to mitigate them. A Risk Register is in use and the Trustees aim for robust management oversight.
The Trustees consider the principal risks and uncertainties facing the charity, and the plans and strategies
for rnanaging these risks. to be..
Financial health.. The income for the charily was mainly in the form of weekly donations from parishioners The
reliability of this income is therefore dependent on the level of church attendance The charity has started to
encourage parishioners to switch from weekly cash donations to monthly bank direct debil transfers thus
improving the reliability of this source of Income. A Conservation and Development Committee has also been
set UP lo oversee Income generation.
Financi81 controls.. The financial syslems and controls were set up when St Joseph's was part of the
Congregation of the Passion of Jesus Christ. As an independent charity. some of these legacy systems and
controls may no longer be fil for purpose A financial procedures manual has been agreed. Budget and
reporting system is introduced. Cloud based accounting is currently being used for financial reporting
purposes.
Page 2

ST JOSEPH'S RETREAT (HIGHGATEI CIO
ANNUAL REPORT IcontinLAed}
Slalutory and legal compliance.. The charity has prioritised reviewing Safeguarding, GDPR and Health &
Safety policies and practices to ensure legal compliance Review of policy compliance will become standing
agenda items in both Finance Committee and Parish Council meetings
Objects and activities
The objects of Ihe CIO are the advancement of religion and education as follow5..
"To advance the Christian failh for the public berEfit'
Nothing in this constitution shall aulhorise an application ol the property of the CIO for the purposes which
are not charitable In accordance with section 7 of the Charities and Trustee Investment (Scotland) Acl 2005
arsd section 2 of the Charities Acl (Northern Ireland) 2008.
Public Benefil
Trustees have had regard to Charity Commission guidance on public benefit, set out in section 4 of the
Charities Act 2006. and we consider that all our work complies in very tangible ways with the concept of public
benefit Trustees are convinced the work of ils membership fulfils every criteria of public benefit and that
significant impact is attained through our direct work and the work we support through others.
Achievements and pertorniance
Tbe year 2024 was characterized by grNth, collaboration, and compassion within our community.
1. Change of Trustee Members
On 20 February 2024, a resolution was passed lo appoint Falhers Paul Francis Spencer and Father Thomas
Rocky Kanjarathungal as new Iruslees. Father Paul Francis Spencef was elected as the Chair of Trustees,
while Father Jenish Maria Ethwin look on the role of Secretary. A heartfelt vote of thanks was extended lo
Father Tiernan Doherty fof his exemplary service over the past eight years, both as rector of the monastery
and Chair of Tiustees. Falher Tiernan resigned from his roles following a new ministry appointment In
Australia,
2. Safeguarding Initialives
Adherence lo the Westminsler DK)cese's safeguarding policies was emphasized. with Sister Una being
designated as the contact for cases involving religious members The CIO remains compliant with
Westminster Diocese safegLiarding policies, supported by safeguarding represenlalives Lorraine Redmond
and Hannah Sullivan. A diocesan Inspection affirmed Ihe CIO'S commitment to safeguarding standards
3. CommLJnity Engagement and Education
A series ol educational sessions were held on tOPiCS such as Parenting, Ecology, Mindfulness, Spiriluality,
and Sacred Scripture. catering to the diverse needs of our community.
4. Outreach and Community Support
A strong emphasis was placed on outreach programs for ihe housebound. reinforcing the CIO'S ethos of
ompassiori and community spirit. Events were organized to enhance gfOUP dYnam￿S and engageme.nt in
praise and worship Regular sessions for meditation and yC#Ja practice were also conducted. Pre-marriage
and marriage counselling pr()Jrams gained positive recognition and high attendance. The weekend
gatherings for seniors, featuring Ceilidh dance and social interaction, saw enthusiast£ participation.
Page 3

ST JOSEPH'S RETREAT IHIGHGATE) CIO
ANNUAL REPORT (continued)
5. Lunch Club for the Elderly
In collaboration with another charity, the newly established Lunch Club brought nourishment and Joy lo senior
citizens, fostering a sense of community
6. Garden Project. A Tribut8 to Ecological Stewardship
The Garden Project has not only promoted environmental care but also strengthened community bonds,
reflecting the CIO'S commitment to ecological stewardship
7. Youth and Healthcare Workers.. Acknowledged and Appreciated
Programs dedicaled to supporting and recognizing the contributions of our youth and healthcare workers
were successfully Implemented.
8. Olher Significant Achievemenls
The CIO'S involvement with Sl Joseph's School resulted in Ihe school being adjudged 'Outsianding' by
the Ofsled inspection.
The CIO actively engaged wilh the Islington Faith Forum, celebrating the diversity of our society
The CIO participation In the 'Churches Together in Highgate, Initiative. along with activities during Advent
and Lent, received widespread acclaim
In conclusion, the efforts of Ihe CIO in 2024 have strengihened our c¢ynmunity, fostering an environment of
growth. care, and spiritual enfichment
The Finance c￿lMittee met regularly. overseeing a number of activities and initiatives, including,,
Co-ordination and oversighl of the drafting and approval of the Parish CIO Financial report for the
financial year ending 2024
Monitoring and maintenance of the Risk Register to identify and manage Risks and Issues
Regular review of finance systems and controls relating to all parish finances and Gift Aid records
Close monitoring of the funding for conservation projects and the progress of work carried out
Introduction of credit card reader, Stripe and Paypal lo make it easier for donations to be made.
Flnanclal revlow
The CIO raises the funds which it needs to carry on rts aclivities from within ils own membership and
congregalion. No wider public appeal is made for funds.
The CIO expresses its part in the life of the wider church by making grants to national and international
Christian organisations and societies with Christian aims and objectives compatible with the CIO'S own
charitable purpose
The CIO is heavily dependenl on its membership working as volunteers in all aspects of the CIO'S activities,
many of which run with lillle or no impacl on the CIO'S expenditure, but nevertheless contribute subslantially
to the achievement of the CIO'S objectives.
The financial results for the year, together with a summary of the accounting policies adopted are set out in
the accompanying financial statements.
Page 4

ST JOSEPH'S RETREAT (HIGHGATE) CIO
ANNUAL REPORT (continued)
Reserves policy
The main source of income for the charity is voluntary donations. This has been in the fomi of weekly
donations from parishioners attending church Servi￿S. The reliability of this income is therefore dependent
on the level of church attendance. The charity has started to encourage parishioners lo switch from weekly
cash donations to monthly bank direct debit transfers thus Improving the reliability of this source of income.
The Trustees reviewed their reseNes policy during the year. The Pfincipal risk to the charity is any unexpected
sudden drop in regular donations leading to unfunded outgoing expenditure. In order lo mitigate this risk. the
trustees have agreed that the chaiily should aim to hold free reserves equivalent to 9 months, unrestricted
expenditure. The free reserves held at 31 December 2024 were £403,366 {2023'. £398,031) against an
expected annual unrestricted expenditure ofaround £300,000. Restricted income funds were £284,84012023.'
£270,929) and designated funds were £9.206,94712023. £9,212,767). The policy will be reviewed every year
while the charity improves the reliability of its main source of income.
Fundraising
In line with the reporting requirements included in the Charities Act 2016 the Trustees are pleased to confirm
that all fundraising is done in compliance with best fundraising practice. All fundraising activities follow
traditional methods within the Catholic Church which have been recognised as ethical for many years During
the year we did nol employ any professional fundraisers There were no complaints or criticisms during the
year about our fundraising activities.
Plan8 for th• futuro
We shall continue to focus on addressing priorities previously idenlified..
Ongoing review and continued improvement of the independent systems. procedures and policies over
Parish Finances
Ongoing review and monitoring to ensure full compliance with all stalutory and legal requirements in
carrying out Parish activities
Ongoing review and monitoring lo Identify ways to establish more secure and reliable income sources
for the Parish
Ongoing review and monitoring of Health and Safety Complian￿ in all parish aclivilies, and site
security on the parish grounds
Ongoing review and monitoring lo identify ways to continue to adapt and serve the Parishioners and
the wider community.
Trustees, Respon8lbllltle8
The trustees are responsible lor preparing the Trustees, Annual Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charities in England and Wale5 requires the trustees lo prepare financial slalements
for each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming
resources and application of resources of the charily for that yeaf, In preparing these financial statements,
the trustees are required to..
select suitable accounting policies and then apply them consistently-
observe the methods and principles in the Charities SORP,
make judgments and estimates that are reasonable and prudent",
state whether applicable accounting standards have been followed. subject to any material
departures disclosed and explained in the financial statements.. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charity will continue in business
Page 5

ST JOSEPH'S RETREAT IHIGHGATE) CIO
ANNUAL REPORT Icontinuedl
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy
at any time the financial position of the charity and enable them to ensure that Ihe financial statements comply
with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the
trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
FOR AND ON BEHALF OF THE TRUSTEES
er George Kolothumveettil Antony
2025
Page 6

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
ST JOSEPH'S RETREAT (HIGHGATE) CIO
Opinion
We have audiled the financial statements of St Joseph's Retreat (Highgate) CIO for the year ended 31
December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Fltr4V
Statement and notes to the financial statements. including a summary of significant accounting policies The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102. The Financial Reporting Standard
applicable in the UK and Republic of Ireland {Unrted Kingdom Generally Accepted Accounting Practi￿1. The
2020 financial statements were not audited.
In our opinion, the financial statements.
give a true and fair view of the slate of the CIO'S affairs a5 al 31 December 2024 and of its incoming
resources and application of resources for Ihe year then ended,
have been Pfoperly prepared in accordance wrth United Kingdom Generally Accepted Accounting
Practice,
have been prepared in accordance with the requirements of the Charities Act 2011.
8asi8 for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS IUK}l and
applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities
for the audit of the financial slalements section of our report. We are independent of the CIO in accordance
with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the
FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Concluslons relating to going concern
In auditing the financial statements, we have concluded that the CIO'S use of the going concern basis of
accounting in the preparation of the financial slatemenls is appropriate
Based on the Work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast Slgnificanl doubt on the CIO'S ability lo continue as a going
concern for a period of at least 12 months from when the financial statements are aulhorised for issue.
Our responsibilities and the responsibilities of the CIO with respect to going concern are described in the
relevant secbons of this report.
Other infomiation
The other information comprises the information included in the annual report, including the Iruslees, report.
other than the financial statements and our auditor's report thereon. The Iruslees are responsible for the other
information contained within the annual report. Our opinion on the financial statements does not cover the other
inlormalion and, except lo the extent otherwise explicitly stated in our report, we do not express any form of
assurance conclusion thereon.
Our responsibility is lo read the other information and. in doing so, consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit. or
otherwise appears lo be materially misstated. If we Identify such material Inconsistencies or apparent material
misstatements. we are required lo determine whether this gives rise lo a material misstatement in the financial
statements themselves. If. based on the work we have perfomed, we conclude that there is a material
misstatement of this other Information. we are required lo report that fact.
We have nothing to report in this regard.
Page 7

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
ST JOSEPH'S RETREAT {HIGHGATE) CIO (continued)
Matters on which we are required to report by exceplion
In the light of Ihe knowledge and understanding of the CIO and ils environment obtained in the course of Ihe
audit, we have not identified material misstatements in the Irustees, report.
We have nothing to report in respect of the following matters in relation to which Ihe Charities Act 2011 requires
us to report to you if. in our opinion
adequate and proper accounting records have not been kept, or returns adequate for our audit have
not been received from branches not visited by us, or
the financial statements are not In agreement with the accounting records and returns., or
certain disclosures of trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit.
Responsibilities of the trustees
As explained more fully in the trustees, responsibilities statement. the Iruslees are responsible for the
preparation of Ihe financial statements and for being salisfied that they give a true and fair view. and for such
internal control as they determine is necessary to enable the preparation of financial statements that are free
from material misstatement, whether due lo fraud or error.
In preparing the linancial slalements, the trustees are responsible for assessing the CIO'S ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting unless the trustees either Intend to liquidate the CIO or to cease operations, or have no
realistic alternative but to do so.
Auditor'8 responslbllltles for the audit of the flnanclal 8tatament$
We have been appointed as auditor undef section 145 and report in accordance with the Act and relevant
regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error. and lo issue an auditor's report that includes our
opinion. Reasonable assurance Is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a material misslalement when It exists. Misstatements can arise
from fraud or error and are considered malerial if, Individually or in the aggregate, Ihey could reasonably be
expected to influence the economic decisions of users taken on Ihe basis of these financial statements.
The extent to which our procedures are capable of detecting irfegularilies. including fraud is detailed below:
Based on our understanding of the charity, we identifEd that the principal risks of non-compliance with laws
and regulations reL8led to employmenl, financial reporting legislath)n and health and safely regulations and we
considered the extent to which non-compliance might have a material effect on the financial slalements. We
also considered Ihose laws and regulations that have a direct impact on the preparation of the financial
statements such as the Charities Act 2011.
We assess￿ the susceptibility of the charity's financial slalemenls to material misslatemenl. including
oblaining an understanding of how fraud might Ixcur. by making enquiries of management, considering the
internal controls in place and discussion amongst the engagement team,
We determined that the principal risks were related lo management bias in accwnting estimates. presentation
of separately disclosed items and management override of controls.
Page 8

INDEPENDENT AUDITOR'S REPORT TO
THE MEMBERS OF
ST JOSEPH'S REfREAT (HIGHGATE) CIO {continued)
In response to the risks identified we designed procedures which included. but were not limited to challenging
significant accounting estimates, agreeing financial statement disclosures lo underlying supporting
documentation, identifying and testing journal entries, reviewing trustee meeting minutes and evaluating the
charity, internal controls.
There are inherent limitations in the audit procedures described above The more removed that laws and
regulations are from financial transactions, the less likely il is that we would become aware of non-compliance.
Material misstalements that arise due to fraud can be harder to detect than those that arise from error as they
may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website al. lwww.frc org uklauditorsresponsibilitiesj. This description forms part of our
auditor's report.
Usa of our report
This report is made solely to the trustees. as a body. in accordance Part 4 of the Charities (Accounts and
Reports) Regulations 2008. Our audit work has been underlaken so that we might stale lo the Trustees those
matters we are required lo slate to them in an auditor's report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity,
trustees as a body. for our audit work, for this report, or for the opinions we have formed.
Xeinadin Audit Limlted
Statutory Auditor
Chartered Accountants
S Robin Hood Lane
Sutton
Surrey
SM12SW
Xein8din Audil Limileo is elwible fy8ppointmenl as 8uditorof the ch•rityby virtu• ofils eli91￿'l1ty for4ppoinlm•nl as audilorola company
underse¢fron 1212 of the Gompanies Act 2LX)6
Page 9

ooa)
*¢D
*w
o UJ'E

ST JOSEPH'S RETREAT (HIGHGATEI CIO
BANNCE SHEET
AS AT 31ST DECEMBER 2024
2024
2023
Note
Fixed assets
Tangible fixed assets
Investments
9,206,947
808
9.207,755
9,212,767
900
9,213,667
Curront a$80ts
Stocks
Debtors
Cash at bank and in hand
3,085
55,633
1,000
45,936
7C6,999
698,195
Croditors: Amounts falling due
within one year
19601
Net current asuts
668 060
Net assets
Funds
Unreslncted
Designated
403,386
20
398,031
9,610,313
9,610,798
Restricted
10
284.840
Total funds
12
Approved by the Trustees on -
2025 and signed on their behalf by..
Geor
eellil Antony
Page11

ST JOSEPH'S RETREAT (HIGHGATEI CIO
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 ST DECEMBER 2024
2024
2023
Cash (used inl I provided by operating
activities (see below)
(4,315)
71,301
Cash flow5 from Investing activitl8s
Interest and dividends received
Payments to acquire tangible fixed assets
3,836
2,499
2,951
Cash provided by investing actlvltlas
1,337
2.951
Not cash Inflowl(ouffiow)
12,9781
74.252
Cash and cash equivalents at 1 January
651,259
577,007
Cash and cash equlvalents at 31 December
648 281
651,259
Cash flows from operatlng actlvltles
Net Income
Interest and dividends received shown in
investing activities
Depreciation
Lossiigain) on revaluatron of fixed asset
inve51menls
Decreasel{increasei in stocks
De¢￿ase/lln¢rease) in debtors
Increaselldecrease) in creditors
13,426
39,148
{3,8361
8,319
92
(2.951)
9.299
152)
(2,085)
(9,697}
(10.5341
26.165
1308)
Cash (u8•d in) I provided by operatlng
activities
14,3151
71,301
Page 12

ST JOSEPH'S RETREAT IHIGHGATEI CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 ST DECEMBER 2024
ACCOUNTING POLICIES
The name of the CIO Is St Joseph's Retreat (Highgale) CIO. It is registered with the Charity Commission
(number 1173084) The property of the CIO is vested in a trust. governed by a declaration of Trust dated
17 May 2017. The CIO'S registered office is Highgate Hill, London N19 SNE.
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the
preparatson of the financial statements are as follows.
Accounting convention
The financial statements have been prepared under the Charities Act 2011 and in accordance wilh the
Chantses. Slalement of Recommended Praclice (Charilies SORP IFRS 102) and Financial Reporting
Standard 102 IFRS 1021 The financial ststements are drawn up on the historical cost basis of accounting
as modified for the revaluation of investments. St Joseph's Retreat (Highgate) CIO meets the definition of
public benefit entity under FRS 102.
The financial statements are p￿pared in Sterfing, which ig Ihe functional currency of the CIO Monetary
amounts in these financial statements are rounded lo Ihe nearest pound.
Going Concem
There are no material uncertainties about the charity's ability to continue as a going concem.
Income
Voluntary incon* and donations (including legacies) are accounted for once Ihe charity has
entitlement to the income, il is probable the income will be received and the amount of income
receivable can be ￿liablY measured.
Income from listed investments and sundry income is credited to the Statement ol Financial Activities
when receivable.
Donated a$$ets are recognised al their fair value when ￿¢£￿ved.
Expenditure
Expenditure is accrued as soon as a liability is consK1e￿d probable, discounted lo present value for
longer term liabilities.
Governance Costs of the Charrty include expenditure on compliance with eonsth'tutional, legal and
statutory requirements, and these have been allocated directly to expenditure inCUr￿d on charitable
actsvitses.
FSxed Assets
Fixed assets are reco9nised at cost or fair value when donated Freehold land is not depreciated No
depreciation has been charged for freehold property where the residual values are not likely to be
materially less than the carrying values, such Ihal depreciation is immaterial. Other assets are
deprecialed over their expected useful lives at the following rates..
Building improvements..
Other assets..
20A on cost
25% reducing balance
Page 13

ST JOSEPH'S RETREAT IHIGHGATEI CIO
NOTES TO THE FINANCIAL STATEMENTS
R TH
AR
ACCOUNTING POLICIES {conlinued)
Fund accountlng
The general funds comprise those monies ￿lch may be used towards meeting the charitable objectives of
the Charity al the discretson of the Trustees.
Designated funds are the amounts set aside out of general funds and designated for specific purposes by
the Trustees.
Restricted funds are monies raised for, and their use restricted to, a specific purpose. or donations received
which are subject to donor imposed conditions.
D8biors
Sundry debtors are included al the settlement amount due. Prepayments are valued al the amount prepaid.
Cash at bank and In hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of
three months or less from the date of opening ofthe deposil.
Credltors and provisions
Creditors and provisions are recognised Whe￿ the charity has a present obligation arising from a past event
that will probably result in the Iransfer of funds to a third party and the amount due to settle the obligation
can be measured or estimated ￿liablY Creditors and provisions are recognised at their settlement amount.
Flnanclal instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic
financial instruments are initially recognised at transaction value and subsequently measured at their
settlement value.
INCOME FROM DONATIONS AND LEGACIES
Unrestrlcted
Funds
2024
Restrlctsd
Funds
2024
Total
Funds
2024
Total
Funds
2023
Donations
Tax recoverable
Legaaes
204,298
19,545
29,260
2,168
233,558
21,713
255,091
21,038
Page 14

ST JOSEPH'S RETREAT (HIGHGATE) CIO
NOTES TO THE FINANCIAL STATEMENTS
THE YEAR ENDED 31
TDE
EMBER2
24
continued
EXPENDITURE ON CHARITABLE ACTIVITIES
Llnrestrlcted
Funds
2024
Restricted
Funds
2024
Total
Funds
2024
Total
Funds
2023
Pastoral cosls
Premises costs
Support costs
Govemance costs..
Audit fees
Accountancy work and other fees
80,383
99,495
58,648
7,112
10,250
155
87,495
109,745
58,803
100.131
101.818
56,118
6,720
6,720
6,300
984
SUPPORT COSTS
Unrogtrlcted
Funds
2024
R88trlctèd
Funds
2024
Total
Fund8
2024
Total
Funds
2023
Administration
Depreciation
Legal and professional
Travel
39,211
8,319
155
39,366
8.319
38,383
9,299
STAFF AND TRUSTEES
2024
2023
Gross salanes
During the year there were 3 employees12023.' 3). No trustee or member of key management personnel
ceived remuneration or reimbursement of expenses during the year12023 nil) No employees received
more than £60,000 remuneration.
Page 15

ST JOSEPH'S RETREAT (HIGHGATE) CIO
NOTES TO THE FINANCIAL STATEMENTS
THE YEAR ENDED 31
T DECEMBER 2
24
continued
TANGIBLE FIXED ASSETS
Frnehold
land and
buildings
Plant and
machinery
Offlce
equlpment
Motor
vehlcl8s
Total
Cost or fair valuo when gifted
At l January 2024
Additions
9,207,232
44,384
12,232
3,924
9,267,772
At 31 December 2024
9 207 232
46.8
Depreclatlon
At 1 January 2024
Charge for the year
13,106
30,276
8,630
2,993
55,005
At 31 December 2024
226
Net booklfalr value
At 31 December 2024
At 31 December 2023
Freehold land and buildings gifted were recognised as at 31 December 2018. at the fair value advised by
Nigel Smith FRICS of Smith and Knight Property Consultants.
INVESTMENTS
Listed investments
Falr value
At 1 January 2024
Revaluation
At 31 December 2024
900
92
Carrying amount
Al 31 December 2024
At 31 December 2023
DEBTORS
2024
2023
Tax recoverable
Loan receivable
Other deblors and prepayments
9,124
500
9.980
Page 16

ST JOSEPH'S RETREAT (HIGHGATEI CIO
NOTES TO THE FINANCIAL STATEMENTS
ELR THE YEAR END
TDE
EMBER 2024
continued
CREDITORS: Amounts falling duewithin one year
2024
2023
Interest free loans
Olher credilors and accruals
3,100
4,167
10 RESTRICTED FUNDS
2024
Brought
for•vard on 1
Jan 2024
Galn
Carried
(losses) and foThvard on
transfers 31 Dec 2024
Incomo Expendituro
100 Club
Cardinal Hume Centre
Chile Fund
Distress Fund
Generalale. kitchen
refurbishment
Growing in Faith
Haiti Fund
India Mis&on
Other appeals
Priests, Training
SOS Fund
Grant for PA system
29,954
371
140
9,923
11,250
15,076)
36,128
371
140
9.923
828
29,947
1,340
1 828)
791
3,899
33,767
1,340
{ 2.112)
1,948
{ 1,9481
9,184
625
188,617
7,236
625
191,310
12,115
19,4221
(ll￿1)
2023
Brought
forward on
1 Jan 2023
Galnsl
Carrled
11088es) and forKdrd on
transfors 31 De¢ 2023
Income Exp•ndltur•
100 Club
Cardinal Hume Centre
Chile Fund
Distress Fund
Generalate kitchen
refurbishment
Growing in Faith
Haiti Fund
India Mission
Other appeals
Priests. Training
Social Club
SOS Fund
25,182
371
140
9.923
10.800
(6,0281
29,954
371
140
9,923
7,328
26,024
1,340
{ 6,500)
{ 66)
828
29,947
1,340
3,989
(3.200}
3,200
9,184
625
9,184
625
2,200
12,200)
17
Page 17

ST JOSEPH'S RETREAT (HIGHGATE) CIO
NOTES TO THE FINANCIAL STATEMENTS
REND
EMBER 2
The purposes of the above restricted income funds are..
100 Club..
Cardinal Hume Centre."
Chile Fund..
Distress Fund..
Generalate Fund..
Growing In Faith Fund..
fundraising
specific offerings taken for this project
support of Chile parish
support of members suffering from financial or physical hardship
for kitchen refurbishment
fundraising scheme with aim of identifying potential parish donors f
the redecoration and repair of Highgate church
Telief for victims of the earthquakes In Haiti
specific offerings taken for the construction of a church In Randham
Korattur village
any smaller fundraising appeals taking place throughout the year
specific offerings taken for this appeal
donat￿n$ taken by Social Club towards its upkeep
fundraising for repair and renovation works
grant received to support the projecl of upgrading the PA system
Haiti Appeal.
India Mission..
Other appeals.
Priests. Training..
Social Club..
SOS Fund..
Grant lor PA sys¢em.'
The transfers Into restricted funds were made to meet restricted expenditure not expecled to be
covered by future receipts.
11 DESIGNATED FUNDS
2024
Brought
forward on
1 Jan 2024
Galn81
C•rrled
1108s•sl and forward on
Iran810rn 31 D•c 2024
In¢om• Expondlture
Fixed asset fijnd
2023
Brought
fOr￿ard
on1Jan
2023
Gainsl
Carried
(losses) forward on
and 31 Dec 2023
transfers
Income Expenditure
Fixed asset fund
The Fixed Asset Fund comprises all tangible fixed assets held by the charity.
Page 18

ST JOSEPH'S RETREAT (HIGHGATE) CIO
NOTES TO THE FINANCIAL STATEMENTS
TH
ED
1ST DECEMBER 2024
con
inued
12
ANALYSIS OF NET ASSETS BETWEEN FUNDS
2024
Tangible
flxed assets
Invest-
monts
Currnnt
assets
Current
Ilabilitles
Tolal
Funds
Restricted
Unreslricted general
Designated
284.840
422,159
284,840
403,366
808
(19,601)
At 31 December 2024
2023
Tangible
fixed assets
Invest-
ménts
Current
assets
Current
Ilabilities
Total
Funds
Restricted
Unrestricted general
Designated
274,826
423,369
13,8971
(26,238)
270,929
398,031
900
At 31 December 2023
13
RELATED PARTY TRANSACTIONS
During the year a total of £8,768 expenses were reimbursed lo three trustees12023. £5,562 to hvo
trusleesl in respect of travel, hospitality, healthcare and books No other transactions with related
parties took place during the year (2023 none) The Iruslees receive no special benefit as trustees
other than their care and maintenance as members of the Congregation.
OPERATING LEASE COMMITMENTS
14
Al 31 December 2024 there were operating lease commitments of £661 due within one year (2023..
£8811 and £0 due in tsvo to five years (2023. £661}. Lease charges in Ihe year were £881 12023..
£8811.
Page 19