Reglstered number.. 11201248 Charity number: IA80228 MESSENGER OF SAINT AfffiioNY UK IA Company LKrriited by Guarantee) '. UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2024
-' MESSENGER OF SAINT ANTHof4y UK Its.. (A CompADy Limited by Guarantee)." CONI'kN'13 Pag¢ Referenee find AdrninistrAtive DeiAils of the CompAny? its Tru51ees and Advisers Trus¢tt8' Report Independont Examlner's Report Statement of Finxncial Aeliviti BAIAnee Sheet Iyotes ¢0 ¢he Fin8D¢iAI Stst¢ment$ 9-15
MESSENGER OF SAINT AFHoNy UK (A Cornpiny Limited by Guarantee) :'.:- REFEREIYCE AND ADMINISTRATIVE DETAIIA OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR TI.IE YEAR NDED 31 DEI CEMBCR 2024 Trustees -mario Lonte Kevill Roy Grant (resied 10 May 2024) Giorgia Sartori GianGaTlo Zarncngo G¢rdrd Thomas Mary Hanl¢y Liam Patrick Kcdmond Kat¢ EliYAbeth Caslellani Francesca Favero Falcoiii {appointed 10 May 2024) Dr Pragash James Kamalatl)evan lappoint¢d 10 May 2024) Company regISted iiumber 11201248 Chgrfty reg?stered number 1180228 Registered office c/0 Slig Law LLP Teinple Chamber5 3-7 Temple Avenue London EC4Y ODA Actountints Soteriou Banerji Chartered Accountants 253 Gra8 Tnn Road London WCIX 8QT Solititors Slig Law I,l.P I cniple Chambert 3-7 Temple Avenue London BC4Y ODA Independent KxamiNer M6rcer & Hole LLP 21 ljoinbard Street London ECJV 9AH Page I
MESSEf4GER OF SAIwf ANTHONY UK (A Com'p"Mhy Limited by GuarAnteel ',,: . TRUSTEI ES, KEPORT VOR THE YEAR ENDED 31 DF,CEMBCR 2024 The Trustces present their annual report togoth¢r witi) the financial stAteinBiit5 of the Mes8en8er of Saint Anthony UK (the "colllpan' or "MOSA IJK") for th¢ ycar ended 31 Dmber 2024. 'fhe Trustee5 confimi ¢hat th¢ Annual Report and fiiiaiicial st*einenls of the Coinpany Gomply with the current Blatlltory requirements, the Tequirements of the Company's gioverning documenL tlie Coinpanie5 Act 2006 and the prgvisions of the Stateinent of Rec()illmBnde41 Practice (SORPI. applicable to cliarities preparing their accounts in a¥¢orddD¢e with tli¢ Finartcial Reportin&F Standard applicable in th¢ UK and Republic of Irclaiid (FRS 102) (¢ff¢¢tive l January 2019). ObJeetlve8 ind Actlvltles . Poikcles #nd objettives The Company 15 establishcd a5 a charitable coinpany to promotc and advance the Christian f8ith in Sympathy with the etliics and teèching8 of saint Andiony of PRdua and tt) further such otli¢rpurposes ivliich Imay be charitable ac¢ordin8 to the law of England &nd WaJe8 85 ti)¢ trustees s¢e fit fron) tim¢ to time. b. A¢tlyitl¢s undert#ken to #ehitve objeetives The Company achicvES its objcctive5 by distributing educational material, %pecifically a MazIne. and makin8 grants to charitablc projcct5 particularly in England and Wales but Also in the rest tsf the world witii the aim of rclieyiiig tM)verty and advancing health, education and ¢ommunity development. Achievemets and perform8nee FinAiici#I review . Goillg coneern AftBr makiiw appropTiate 1quIries. the trustees have a reasonable expectation tl)at the Company has adequatt resourc¢s to continue in operational existence for the fOrc5able fi]ts]re. Thus the trnstees continue to adopt the going concern basis of counting ill preparing thc financial stateinents. Page 2
MESSENGER OF SAINT ANTHONY UK (A Cornpany Lirnited by Gulrdntee). TRIISTEES, REPORT (c¥[u[l D) FOR TIIE YEAR ENDED 31 DECEMBER 2024 b. Income expenditure The Coinpaiiy received iiicojne froin donation5 aiid legacics wliicli. iiicluding Gift Aid. &mounted to £9r)4,487 (2023.. £465,704). Durijig the year the Coinpany spent £350,603 12023.. £275,753) on cliaritable activities and £119,377 (2023.. £117.3861 on governance costs giving a total expenditure of £469,980 (2023.. £193,139). The nct income of the Company was £434,507 (2023.. £72,565). Tl)¢ Trust¢¢s ivill consid¢r how best to apply these funds for chfjritable purposes. In 2024 ¢h8ritable grants made was £287,000 (2023.. £190,000}. The ¢xpenditur¢ romprised.. £50,000 Devotional grant ts) the Provinci8 Itoliana di S. Antonio di Padova dei Fr&i Minori Conventuali I"PLSap I,'MC") Accoglien7a Ptllegrini for the St. Anthotjy Basili¢ Pilgrim reception pmgram. 30,000 Devolional grants to fi]iid tlie St. Anthony's lifc cxliibition. Tliese 8fdnts 8re made viMessaggero di SAttV Antonio Editri¢e ('Messaggero'J. £40,000 Housit)g and Welfare Rights grallis to the CardiJ]al Hume Centre linmEgralion Advice SeThice, in relation to prrv¢ntinB #nd ta¢klin¥ ljomelessness and advocacy wol* for refugees and asylurn seekers. £167,000 r.ducation, healthcare, food. water, agricultUTe and micrTrcredil grants to beneficiaries in India, Ta[Mi&, Camcroon, Malawi, Uganda. Togo, M07Ambique, Zwnbia, Rwanda and Kenya. Th¢ grants are made via Caritas Sant'Antonio ONLUS C'Carita%"). . FingnciAI positio At 31 December 2024 the Company had cash at bank of £1,018,816 (2023-. £619,144) and debtors of £26,036 12023.. £23,788) giving a tal of gross absets of £1,044.852 (2023- £642,932}. Against this the Company had liabilities of£34,438 12023- £67,025). Net assets at 31 December 2024 was £1,010,414 (2023.. £575,9071. Lt is th¢ policy of the Company that unre5triGted fvnds which have ntkt be¢ii desigt)at¢d for a sp¢¢ifi¢ us¢ should bc maintained at a level ht least cquivalcnt to six month's expenditure. The trustees lls1der that reserves at this lev¢1 will ensure thal in the event of a significallt drop in funding. they will be able io continue the cliarity's ¢urrent a¢tiviti¢$ while considerHtion is giv¢n 10 ways in whi¢h th¢ additional funds inay be raised. Thi5 level of reseives has b¢en maintained tlirougiiout the yelir. Grants to be made oui ofcurrent rvserv¢3 will be considered by the tn]stees at their board meeting to be held in April 2025. In arriving at the level of grants dur regard will be paid to the Compathy's reserves p)licy. Slructur4 govern&Dce And mAnAgement Constitution The Company is regi$tered as a cl)aritable company limited by 8u&fdThtee and was incorporated on 12 February 2018. On O¢tob¢i' 2018 it Wos registered as a charity witli th¢ Charity Commission, r¢gistered charity number 1180228. b. Methods of appointment or election of Trustees Th¢ managemtht of th¢ MpanY is the re5pon5ibility of the Truste¢5 who are ¢l¢¢tEd and w.opt¢d under tlJr Coinpany's Articles of AssociatLOll. Pa&Fe 3
MESSENGER OF SAINT AFifHONY UK ' (A Comp4Dy Limlted by Gu4raMtee) TRUST£ES' REPORT Icof4TINUED) FOR THL YEAR ENDED 31 DECEMBER 2024 Structurey governanto and tnaNagement (Continued) e. OrggntsAtlon#l strueture And deci$ion-maklng policies The CoiMpaThy'5 sole nieinber is Provincia itsliana di S. Antonio di Padova d¢1 Frati Minori Conventhali, {"Pi8ap FMC'J &n ecGl£siastical organisation registered in lialy and whose ultimate ¢ontrolling party 15 tiic Holy See. Divisions of Pisap FMC includc Caritas Sant'Antonio ON.LUS I'caritas") an ]lian iE8lStered charity whose aitns are the i'elief of paverty ii) developing countries and M¢ssaggcro di Sdnt'Antonio Editrice {"Messaggero"}, an its11} register¢d Cl¢S10st1¢al publishing house licenccd to carry on ¢omm¢r¢i&l aciivities. Pi5ap FMC, Caritss and M¢ssaggero shAre the same premises iij P&dov Italy. Messuggero provid¢8 administrative and publishin8 servLces to tlie colpally. The Company 18 managed by its Trustees who arc responsible for all strate8ic decisioi)s and overyeE its operations. Day to day operations 8re serviced hy M¢ssaggero. The trllstee5 are committ¢d to complying with bc5t practice and during the year revtsed and d¢v¢loped their gtsv¢rnancc policies. Tliese policies ensure Compliance with current legal and regulatory IneorkS in EnBland and Wales wliile projnoting th¢ Company's Lor¢ inission. Reccnt legislative changes, including the Charili¢s Art 2022 and the Government's 2024 Budget, have neces51tated the r¢fomiulion of th¢sE w>licies to 31sgn with rnodern Standards and 1rrent bL4t pra¢ti¢e. The policies comprise. Ethi¢41 Fundralslng Policy: En8urcs transparency, aco)untability. and a]ignment with MOSA UK'5 C.hri5tian values in fundraising ¢trortS'. InterNRI FinADcial Controls Poll¢y.' Es¢Abli5hes robust fjnancial saf¢gU.d5. includin¥ reportin& fraud prevention, and separation of dutics. RerVeS Poliey.. Ikfin¢s the purpose, managerllcnt, and monitoring of reserves for finaiicial Stability and sUStain4bility. liive5tmeDt Poll.. Align5 ¢ihical investment strategies with MOSA UK'S mission, focusin8 on transparency )d risk management. Sufeguarditig Policy.. Protects ¢hildr¢ffj vulnerable adults, and all individuals involved wid) MOSA UK against abus¢ and Connict of Interest Policy- Ensures trustees, staff, and vuluiiteers act iii th¢ best interests of th¢ Charity, avoiding conflicts. Volunteer Polley: Providcs guidance on thc r¢cruitsnent, suppor4 aiid recognition of volunt¢¢r5, fostering inclusivity. Dati PrDtectioTr Poli.. Bnsures complia]]ee with Generdl Dats Protection Regulation (GDPR), saf¢guarding personal data and privacy. Equ41i¢yy Diversity, and Inclusion PDli¢y'. Promotes equal opw)rtunities and inclusivity while prev¢nting discrimuiation, FundrAisillg Complincc Polley: Aligns fundraising activitics with UK Isws and thc Fundraisiiig Regulator's Code of Pra¢ti¢e. FdnvironmentAI Policy.. Itlcorporates environmentally resrK)nsible practÉ¢es in MOSA UK's operations to mittimize ccological impact. Funds held Is custodian No funds are currently held by the Coit)pany. Page 4
MESSENGER OF SAIPU ANTHONY UK (A Company Limited by Cuarantee) I'RUSTEES, REPORT {COFINNUED) FOR I'HE YEAR J£NDED 31 DECEMIIER 2024 Truste The trllste¢8, who are also directors forthe purpose of company law, and who served during the year weiE: Mario Conte Kevin Roy Grant {rcsi8ned 10 May 2024) Giorgia Sartori Giancarlo Z8mengo Gernrd ThomH5 Mary Hanley Liam Patrick Rcdmond Kate ElLbeth Cast¢llani Franccsca Ilavem Falwni (appointed 10 May 2024) Dr Prdgash James Kamalatlievan (appointed 10 May 2024) Ststement of Trustees, rtsponsibilitle8 Tli¢ I'rustee5 (who are also i.lie dire¢lors of the CoMpaY for th¢ piloSe$ of Goxllpany law) are resrrt)nsible for preparing the Trustccs, Report and the fittanGial 5taternents in accordance witli applicable liw and Uiiit¢d Kingdom Accounting St8nthirds (Unitcd Kingdom Gcnerally Acccpted Accounting Pra1¢¢). Company law reqiiires the Trustees to prepare financial ststements for each financid year. Ut)der company l&w, th¢ TrusttES Inust llot approve the fiji1¢181 stat¢m¢nts unless they are satisfjed that tliey give a true aiid fair view of the of affairs of the Q)inpany and of its incoming resourGcs aiid application of r¢soure¢s. including its inwin¢ and expenditure, for that period. In pr¢paring tiiue financial statements, the TnJst¢¢5 aTe rEquir¢d to-. s¢led suitable awunting policies and then appty them consistently,. ob8erv¢ the methods and principles of the Clwitie% SORP (FRS 102); make and accounting e5timate5 thal are tra50nabl¢ aiid prudent- sta(e whether dpplirable UK Accountlllg Stsndards IFRS 102) liave b¢en followed, subject to any material departllres disclosed and explaiJ]ed in the fJngn¢ial st¢>nents. prepare the financial stklltmcnts on thc going ¢oncein basis unless it is inappropria1¢ to presume thHt the Company will COTLtinue in busin&%s. The Trustees are responsible for keeping adeqii&te accounting records that sufficient to show and explain the Company's tran5acthons and disclose with rrasonablc dccuracy at any tim¢ the financial position of the Company and Enable thcin to cnsure that th¢ finan¢ial statctnBnts comply with the Compthir5 Act 2006. 'lThey are also r¢sp)nsibl¢ for safeguarding the assets of the Company and hciice for taking reasonable stcps for the preveiition and detcction of fraud and other irregulatyties. Approvcd by order of the memb¢rs of th¢ board of Trustees on I l April 2025 and signed on tb¢ir b¢haif by.. Gi4nearlo Meng0 (Trusteel Page 5
. MESSENGER OF SAINT'AIYTHONY UK * (A CompADy.Limit¢d by Guarnntee) Wt-.' INDEPENDENT EXAMINER'S REPORT FOR'fHE YEAR ENDbD 31 DECbMHER 2024 Indtpendent ExAminer's R¢port to th¢ Trustees of Messenger of Sgint Anthony UK Cthe CompAny') I report to the Trusiees on my enIatIon of the accounts of the CompAlly for the year ¢nd¢d 31 December 2024. Ke5ponsibiliti¢s Basis of Report As the Trusi¢cs of the Company land ILS directors for the puryose5 of company law) you are r¢8pon5ibl¢ for the preparatioii of the aLcounts in accordance with the requirements of the Companics Act 2006 (Ih¢ 2006 Act,). Having satisfjed myself tl)at th¢ d¢¢ounts ol. the ioillpany are not required to be lled under Part 16 of the 2006 Act and are eligible foi. indep¢nd¥t)t exaiT]itLation based on incoine of mor¢ than £25,000 but les5 tliall £l.000,000 and gross a55cts of l&q% than £3,260,000.. J report in rcspect of my cxaminatiott of th¢ Gompany'5 accounts carried out und¢r section 145 of the Chariti¢s Act 2011 (the 2011 Ace). In canying out my examination L have followcd the Dir¢¢tioiis given by the Charity Commis510ll under section 145(5Xb} of the 2011 Act. IDdependent Examiner's Sttemertt Sinc¢ the Company's gros5 income excecdcd £250,000 your examiner rnust be a member of a body listed iii s¢Llion 145 of the 2011 Act. l eonfjrtn that I am qualificd to undertake the examiThation be$¢ l am a m¢Lnb¢T of ICAEW, which is on¢ of rhe listed bodies. I have completed my examination. I ¢onfimi that no matter5 have eome to my attention in cotthectioll with the examination giving m¢ cause to belicve.. accounting records w¢ir not kept in respect ofthc Company as requir¢d by section 386 of the 2006 A¢t,' or the acwunts do not accord with those records,. or the aw)unts do not wn)ply with the accounting requirements of section 396 of the 2006 Act other than any requirement tl)at the accounts give a'true and faiP vi¢w which is noi & matter collsidcred a5 part of an ind¢pertdcnt examination,. or the accounts have not been prepared in accordance with tlie iiiethods and principles of the Statement of Recommended Practice for accounting atsd Kpxting by cliaritie5. I havc no concems and have wme acro55 no other mattcrs in CDnne¢tion with the ¢xaminatiort to whi¢h atiention should be drawn in this rwrt in order to enable A proper understanding of the acetsiints to be reached. Thi5 report is made solely to the Ci)mpony's Trustees, 8s a body, in UCcUrdICc with Part 4 of the Charities {Accounts and Reports) Rcgulations 2008. My work has been undertak¢n so that I migwht state to th¢ Company'b Tru5tee5 thosc inatters l am rcquired to state to theiii in Jndependctjt Examiner's R¢pDrt and for Jjo other purwse. To the fullest extent p¢rmilt¢d by law, I do n()t a¢p( or assume resp)n3ibility to anyone otlicr tlian the Company and thE Company's'frustees as a body, for Iny work or for this report. Sign= DAted.. 11 April 2025 Andrew Dean LLB ACA (Senior Statutory Auditor) Mcrcer & Hol¢ LLP 21 Lombard Strect, London, EC3V 9AII Page 6
MESSENGER OF SAiT ATrifHONY UK (,: (A Company Limlted by Guar*nt¢¢) rATEMENT ort FINANCIAI. AcfiviTIES (INCORPORATING INCOME AND EXPEIYDITURE ACCOIJPffj FORI'HL YEAR J£NDED 31 DECEMBER 2024 Unre5trictod fun(Is 2024 Total fund5 2024 Total funds 2023 Rostricted funds 2024 Intoe from: th)nations and legacies 904,487 904.487 465.704 Tot#1 income 904,487 904,487 465,704 Expenditure oll: Charitable a¢tivilies Goverjiance costs 350,603 119 J77 350,603 119 J77 275,753 117.386 TutY41 expeDditure 469,980 469,980 393,139 Net income 434,507 4,236 434,507 72,565 'rransfers between fu]]d5 (4336) Net thovement in funds 438,743 {4236) 434J07 72,565 R¢tonciliation of funds: Total fund5 brouglit fojward Net movement in funds 567,671 438,743 ,236 (4,236) $75,907 434507 503J42 72,565 Tot41 funds carried forward 1,1106.414 4,000 A,010,414 575,907 All income and expenditure deriyc from continuing activities. Th¢ Statement of Finan¢ial AL1vItIeS in¢ludes all gains and Iosscs rewgnised in the year. The Statement of financial Activities a150 complies With the wuirements for an income 9d expenditure count under the Companies Act 2006. The notes on pages 9 to 15 form part of these financial statements. Pa8e 7
b: MESSENGER OF SAIPU ANTHONY UK (A CompAny Limited by Gu&Yant¢e).""" REGigfERED NUMBER: 112111248.°> ' BALANCE SIIFD,'I' AS AT 31 DECEMBER 2024 2024 2023 Iyots Current a55ets Debtors c.ash at bank and in hand 26,036 1,018JJlO 23.788 619,144 1.044.852 642,932 CTrditors.' amounts falling due within one y¢8r (J4,438) {67.025) Net current 9ssets 1,010,414 575,907 'rDtsI gS$Ets le55 current IiAbilltles 1,010.414 575,907 Total net 959ets 1.010,4A4 575.907 Charlty thnds Restric*d fiinds Unrestricted funds 4,00 1,006,4J4 8,236 567,671 Total funds I,OllJ,414 575.907 Th¢ Company WdS entitl¢d to exemption from audit under section 477 of the Cotnpanies Act 2006. The m¢berS have not required the company to obtain an audit for the year irt question in acwrdancc with Section 476 of Cotnpanies A¢% 26. The I'ruslees ackiiowledge their re5ponsibilitie5 for ensuring that thc charity keeps ac¢ountin8 records whi¢h comply with section 386 of thc Act and for preparing financial stateJn¢nts which give a tru¢ and fair view of the stste of affairs of the company as the the cnd of the financial year and its incoming resource5 and application of resour¢es, including iL% income aiid expenditure, for the financial year in accordanc¢ with thc irquircments of 5ectioiis 394 and 395 and which oth¥rwise comply with the requir¢ments' of the Companies Act 2006 relating to financial stalem¢ntS, 50 f. as applicable to th¢ ompany. The financial statsjnents have b¢¢n prepared in acwrdanee with the provisions applicable to entities subject lo th¢ 5m¥dl Companies regiin¢. Thc finan¢ial statements wer¢ approv and authorised for issue by the Trnstees uii I l April 2025 alld sigii¢d oll Their behalf by.. Gia rlo 74mengo {'1 rustec) The notes on pages 9 to 15 form part of thtse tinanciai statejnents. Page ¥
MESSENGER OF SAINT ANTHONY UK (A CompAny Limittd by Guar¥ntee) NOTES TO THE FlTriANLIAL STATEMENTS FOR I'HE YEAR ENDED JI DFCEMBLR 2024 Aeeountlng policies 1.1 B&sis of preparAtion offinincial Statements The finaTh¢iai 5tatemcnts Iiav¢ been prepared in accoi'dan¢e with the Cl)arities SORP IPRS 102) - Accounting and Repoiting by Cljarities.. Statcment of Recommended Practice applicable to ¢horitics preparing their accounls in acrordance with the Financial Reporting Standard applicable in ih¢ Utc And Kcpublic of Jr¢land IE,'RS 102) (etive l January 2019), the Financial Rtrporting Standard applicthle in the UK 2nd Republic of Ireland IFRS 102} and the Cojnpanies Act 2006. Messenger of Saint Anthony UK meets the definition of a public benefit entity under liRS 102. Assets and liabilities are initially recognised at historical c05t or transaction value unles5 Othcrwise 4tated in the Telcvant accounting policy. Th¢ charity has taken advantage of the piDvisions in the SORP for chariti¢s applying FRS 102 Upddte Bulletin I not to prcpare a Statcment of Cash Flows. The financial statements are prepared ill sterlingy wliich i5 a functional QUenCY of the charity. Moncttwy arnounts in these financial statements are munded to the nearest £1. The financial statements have been prepared under the historical cost convention. The priiicipal accountiiis ptslicies adopted as set out below. 1.2 CompAny status The Comp[Y is a Company limited by guwAMcc. 'The sole member olth¢ Coinpany is Provincia Itlaa di S. Antonio di Padova dei Froti Minori Conventukli. Iti the event of the Company being wound up, the liability in rc5PeCt of the guarantee is limi1 to £1. 1.3 Going com¢ern At the tim¢ of approving the financi81 st&t¢ments, the tru5tee8 have a r¢asonable Expectatson that the Company has adequate resources to ¢ontinu¢ in op¢rationa] 6xi5tence for the foreseeable future. Thus th¢ tm*t¢e6 Dntiniic to adopt the 80ing concern basis of a¢counting in pr¢paring the financial statcments. Pa8e 9
"l) MESSENGER OF SAINT ALYTHONY UK (A.Company Limited by GuY4ronteel NOTES'I'O'I'HE FINA,NCIAL STATEMENTS FOR TIIE YV.AR ENDED 31 DECI4MI BTr.R 2024 Accoting policies (Contiiiued) 1.4 Income All income is recogynised once the Coillpany has ¢ntitlem¢nt to the income, it is probable that thg income will b¢ rcceived wid the amount of iiicoin¢ receivable can be measured reliably. For legacics, ¢ntitlement is taken as the earlicr of the date on which eithcr.. the Company is aware that probate has been granted. the estate has been fillali5cd and nDtificalion has b¢en made by the eXUtorI$} to tlic Trust thal a distribution will bc made, or a di5ts'ibution is received from ihc estate. Receipt of a legacy, in whole or itl Pwt, is only consider¢d probabl¢ when the amount can be tneasured reliably and the Company has been notified of die exe¢utorfs intention to Inake a digtribution. Where legacies have been nolifi¢d to th¢ Company, or the company 1$ await of the granting of probate, ld the criteria lor iiicojne recognitjVD hav¢ not beeii met, then the legACy is treated a5 a contingent &sset and disclosed if material. Doiiated service5 or facilities are recognised when the Company has contml over the item, hny condition associated with tlie donated item h4v¢ be¢n m¢L the re¢¢ipt of ecoiiomiG b¥hefit from tlie u8e of the compaDy of tile itein is probable and that e¢onomi¢ b¢ntfit Gan be Tncasured reliubly. On rcccipL donated pr(>fessional serviees and donated facilities are r¢ctsgni5ed on the basis of the value of the gift to the coinpany whi¢h is the amount the company would havc bcen wi1Sin8 to pay to obtain scrvices or facilities of ¢quIVent economic benefit on the open mark¢t'. a corresponding Bmount is then COgniSed in expenditure in the period of reGeipL In¢oikne tax rccovErable in relation to donations received und¢r Gift Aid or deeds of eovenant Is recognised at the timc of thc donation. Inwme rewv¢rabl¢ in relation to investment income is re¢ogrtL8ed at thc time the investment income is re1Vabl¢. 1.5 Expethdlture Expenditure is recognised onc¢ ther¢ is a legal OT ¢onstNclive obligation to tTan5fer economic bcncfit to a third party. it Is probable d)aL a transfer of ¢¢onomi¢ benefits will b¢ requir ill settlement and the amount of the obligation can be m¢asur¢d r¢li¢ibly. Expenditure is c]siFIed by activity. The costs of each a¢tiYity are mddE up of th¢ total of dire ¢osts and shared costs, including SlJPPOrt costs involved an undErtaking eacli activity. Direct ¢ostg attributable to a 5iiiglc activity are allocated dircctly to that activity. Shared costs which coiitribute to more ihan vnc activity and 5UPPOrt eo8ts which are not attributable to a singlc activity are apportioned betw¢en those aLtivities on 4 bssis consistent with the us¢ of resourcEs. Centraj staff coyt5 ar¢ allOted on the ba515 of time spenL and depreciation charg¢s allocated on the portion of the asset's use. Govcrnance costs ar¢ ¢hose incurred in connection with minIstration of the ¢onipw)y and compliance with constitytional and statutory requirements. Cl)aritable activities and Ooveruan¢e costs are Costs incurred on the compHny's operations, in¢ludin8 SUPPOrt osts costs relating to th¢ governance o(the Lompany apportioned to charitable activities. 1.6 Debtora Trad¢ and other d¢btors are recognised ot the settl¢meiit amoullt after any trade discount offered. Prepayments are valu¢d at the amount prepaid n¢t of any trade discoutjts due. Page 10
. MESSENGER OTr SAINT Af4THONY UK I.. , (A COMlly Limited by Guarantee) NOTES TO THE FJNAF4CIAL STATEMENTS FOR I'HE YEAR ENDED 31 DECLMBER 2024 Atcounting pollcics {continued) J.7 Cash at bank in hand Cash at bank and in hand includes cash and short tenn hi8hly liquid investments with a short inaturity of thtf¢ illonth5 or less from the dale of 4wui5jtion or openinbT ofthe d¢posit or siimilar account. 1.8 Li8biliti¢s and provlslons Liabilities are recognised wh¢n there is an obligation at the Balance Sheet date As a r¢guIt of a past evenL it is probable that a transfer of economic benefit will be required in s¢ttlemtiit, and the amouDt of the settlement Can be tIrnated reliably. Liabilities arc rccognised at the amouiit that thc cOTllpy anticipates it will pay tts settle the debt or the amount it has received as advanced payments for thc goods or s¢rvices it must provide. Provisions aTe ineasured at the best e5timat¢ of the amounts required to settle the obligatiot). Where thc effect of the tiille value of Inoney is material, thE provision S based on the present value of tilose a]nounts, discounted t the pre-tax discount rat¢ that flectS the risks speciFi¢ to th¢ liability. The uThwilldin8 of the discouni is recognis¢d within intertst payable and simi18r charges. 1.9 Fund *c¢uuntiDg General funds are ujirestricted fund5 whirh are available for use at the dis¢retion of the TTUSteEs in fvrth¢ran¢e of the gener31 objectives of ihe Cornpany and wliicli have not been d¢bignatd for otlier purw8es. R¢stricted funds SLibject to Specific conditions by donors as to how they may be us¢d. The purposes and usu of th¢ rgstsicted funds are set out in th¢ notes to the financial 5tatcment5. Donations and legacies Unrestricted Restrieted funds funds 2024 2024 Totil fund4 2024 funds 2023 L¢gacies Donativns 435.803 468,684 468,6114 465,704 904,487 9114,487 465,704 Pagell
- yk MESSENGER OF SAITrU AONy UK (A Compaoy Liml¢ed by Guarantee) ". NOTES TO THE FINANCIAL STATF.MENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Anllysis ofexpenditure by Attivities Ch#ritable txpenilitUTe 2024 Governance costs Totsl funds 2024 Total funds 2023 2024 Expenditure 350,603 119.377 469,980 393,139 An#ly515 of dirttt e05ts Totsl funds 2024 Total funds 2023 Printing and publications Promotional ¢xpenses Grants made 58200 5,403 287,000 81.223 4,530 l90,000 350h03 275,753 ANAIy5i5 of5UPPOrt COSts Govemanee costs Tothl funds 2023 fund$ 2024 Legal profe55ional feeB AdministratiVE expenses Sulldry cxpens Cotnmiinication costs I ravel expenses 6S8211 6J(10 6A55 411270 532 45,390 13,900 6,027 52,069 119J77 117,386 Trustees, remuneration expens Duving the year. no Trustees receiv¢d atjy remuneration or other benefits (2023 - £NIL). Page 12
, MESSENGER OF SAINT ANfHONY UK (A Company Limited by Cuarantee) NOTES TO THE FINANCIAL sfATEMENTS FOR THE YIAR ENDED 31 DECEMBER 2024 Trustees, remuneratson expens¢s (comtinu¢d) During the year Ended 31 December 2024, no Trustee expense5 have been inciirred {2023- £NIL). Stsff costs Th¢re were no ¢mployees during the year. D¢b¢orJ 2024 2023 Du¢ within one y¢*r Gift Aid Tax recoverable 26.036 23.788 26.036 23,788 Creditors: Amounts falling due within one yeAr 21124 2023 Tradc creditor5 7.969 26,469 11.346 55,679 Accruals and deferred income 34,4J8 67.025 Page13
4 MESSENGER OF SAINf ANfHONY UK .. . (A Cornpany Limi¢ed by Guar¥Rtee) NOTES TO TIIE FINANCIAL S'I'ATEMEN'TS FOR THE YEAR ENDED 31 DF.CEMBER 2024 Statement of funds Stitement of fuNds- current ye#r Balance at 31 December BAlanee at I 2024 I'rAnsfers nloul Jncome Expenditure 2024 UnrostrfLted fund5 Gencrdl Funds- all funds S67,671 904,487 (469W8&) 4a36 1,006,414 RestTlet¢d funds Re$trictcd I",unds- all funds 8236 {4336) Toknl of funds 575,907 904,487 (469,980) 1.010,414 Th¢ restricted funds relates to building houses in Sri Lank& StateEvJent of lunds- prior year BalaDGc at 31 Decembcr 2Q23 Balance at l January 2023 Income Exp¢nditure Unrestrletfd fund5 General Funds- #ll funds 499.342 461,468 {393,139) 567,671 Restricted funds Restrided Fund5- all funds 4.000 4.236 8.236 Tot81 of funds 503,342 465.704 (393,1.39) 575,907 The restiicted fiinds relates to building houses in Sri Lanka. Page 14
. MESSENGER OF SAINT ANfHONY iJK (A Company Lln]ited by Gu8r&titee) NO'fES TO THF, FINANCIAL STATLMEI NTS FOR THE YEAR ENDED 31 DLCEMBER 2024 AThHlysis of net R85cts betwe¢n funds Analysis ofnet #55ets betweell fulld$- current period Unrestri¢tod Restrleted furtds funds 2024 2024 Total fun(ls 2024 Current assets 1,040,852 (34,438) 4,000 1.044.852 (J4,438) Creditors due within on¢ year Tot81 1,006.414 4,000 1,010,414 AnAly¥is of et 1158ets between funds- prlor perlod Unrestricted fi]nd5 2023 R¥stricted lunds 2023 Total funds 2023 Cwrent assets Creditors due within one year 634,696 (67.025) 8,236 642,932 (67,025) Total 567,671 8.236 575,907 Reigted party trgnsaetions As described iii th¢ TN5teC5' Report, the Cojnpany is, by virtue of common ownership and shared &e$S to common $oUrC£s. a rclated party of Provincia itsli8na di S. Antonio di Padova dei Frdti Minori Convenluali, {"Pi5ap INC'}, and the chwity Carit&s Sont'Antonio ONLUS ("Carit&s") and the publish¢T Mt55a8g¢ro di Sant'Antonio Editrice ("M¢ssagg¢ro"). TrAns&ction8 and balances b¢N¢en the Company alld these parties are tabled below- 2024 2023 Transactions: Grants to Pisap FMC Grants distributed via Caritas Grallts distributed via Messaggero Charges for services provided by Messaggero 50,000 167,000 30,000 103,872 50,000 100,000 20.000 137.822 Blance5 ¢ 31 Deeeml)¢r. Due lo Messaggiero IS4S7 38 J92 Pag¢ 15