## **LORETTO UK** ## **TRUSTEES’ ANNUAL REPORT AND ACCOUNTS** ## YEAR ENDING 31 DECEMBER 2024 ## **Loretto UK** _Charity Registration No. 1191616_ ## TABLE OF CONTENTS |**ADMINISTRATIVE INFORMATION**|**2**| |---|---| |**REPORT OF THE TRUSTEES**|**3-7**| |Objectives, Mission and Vision|3| |Governance, Structure and Management|4| |Activities and Achievements|5| |Outlook: Plans for the Future|6| |Operational Support and Challenges|7| |**FINANCIAL REVIEW**|**8-12**| |Financial Performance, Reserves and Risks|8| |Independent Examiner’s Report to the Trustees|9| |Receipts and Payments Account|10| |Statement of Assets and Liabilities|11| |Accounting Policies and Notes to the Accounts|12| |**DECLARATION**|**13**| **13** **1** ## ADMINISTRATIVE INFORMATION ## **Charity name:** Loretto UK ## **Charity registration:** Loretto UK is a Charitable Incorporated Organisation (‘CIO’), registered on 2 October 2020 Registration Number: 1191616 ## **Charity registered address:** Stoke House, Pensford Avenue TW9 4HW Richmond, UK ## **Board of Trustees** Wolfgang Mayrhofer (chairman) - appointed 2 October 2020 Johneen McPherson (trustee) - appointed 1 January 2022 Philippa Baker (trustee) – appointed 15 March 2023 Ian Michael Leslie Yardley (trustee) – appointed 1 September 2024 Fr. Friedrich Bechina (trustee) – appointed 1 September 2024 ## **National Director:** Elisa Alberto ## **Independent Examiner:** Charlotte Chapman Gibbs BFP FCA Wortham Jaques Limited Chartered Accountants and Business Advisors 130a High Street, Crediton, Devon EX17 3LQ **2** ## OBJECTIVES, MISSION AND VISION The trustees present their report with the financial statements of the charity for the year ending 31 December 2024. The charity 'complies with the requirements of Section 17 of the Charities Act 2011 to have due regard for the public benefit'. ## **Our Charity Objectives** In planning the activities of the charity, the trustees have considered the Charity Commission's guidance on public benefit and in particular the specific guidance on charities for the advancement of religion. The trustees have had regard to the Charity Commission’s guidance on public benefit. The **objectives of the charity** are to advance the Catholic faith within England, for the benefit of the public - in particular - but not exclusively by: ## **Our Mission** Our **mission** is to create welcoming spaces where people can encounter God and deepen their relationship with Him in prayer and worship. We disciple young people to become passionate and formed followers of Jesus, grow in their identity, and be shaped as leaders to be sent and follow God's plan for their lives. - Developing and facilitating environments, either in physical space or through networks of individuals, where individuals may deepen their knowledge of the Catholic faith and further their understanding of Catholic social teaching. - Collaborating with local projects and organizations to allow individuals to engage in acts of service to the community to develop experience. - Encouraging individuals to grow spiritually, deepen their relationship with God and strengthen their Christian values through personal development, discipleship, and spiritual guidance. ## **Our Vision** Our **vision** is to see a fresh outpouring of the Holy Spirit and a new fire in the Catholic Church. We dream of a generation of young leaders saying YES as followers of Jesus to follow God’s plans and transform Church and Society. ## **Our Values** **Jesus** is our cornerstone. We practice a culture of **radical hospitality** . We want to live a **lifestyle witness** . We live a **culture of excellence and beauty** . We welcome **unity** in God’s Church. We are **Spirit-led** . **3** GOVERNANCE STRUCTURE AND MANAGEMENT ## **GOVERNING DOCUMENT** The charity Loretto UK was registered on 2 October 2020 and is governed by the Constitution of a Charitable Incorporated Organization (CIO), whose only voting members are its trustees under the CIO’s foundation model constitution. ## **TRUSTEES** The management of the Charity is the responsibility of the Trustees, who are elected and coopted under the terms of the CIO’s foundation model constitution. New trustees are appointed by the existing trustees in accordance with the charity’s constitution. They are inducted through meetings with the Chairman and other trustees, covering the history and current activities of the charity, governance and management, and the charities financial accounts and reporting procedures. Trustees are recruited based on their particular skills, in the context of the needs of the CIO and any skill gaps it faces, and with reference to their commitment to the mission, values and vision of the charity. ## **ORGANISATIONAL STRUCTURE** Loretto UK is a Charitable Incorporated Organisation governed by its trustee board which is responsible for setting the strategic direction of the organisation and the policy of the charity. The trustees carry the ultimate responsibility for the conduct of the charity and for ensuring that it satisfies its legal and contractual obligations. The trustee board meets at least quarterly and there may be additional meetings of appropriate members or groups as required. The day-to-day operation of the organisation has been delegated to the national leader and other staff/ volunteers, who are key to providing the services offered by the charity. ## **WIDER NETWORK** Loretto UK shares a common charism and is affiliated with the wider Loretto community (Loretto Gemeinschaft), a movement within the Catholic Church originating in Austria. **4** ## ACTIVITIES AND ACHIEVEMENTS ## **1. ENCOUNTER: Creating spaces for encounter, worship, and prayer.** Throughout 2024 we continued to create places of encounter with God, fostering a desire to spend time in His presence, nurturing spaces of healing and God’s tangible presence, and growing a culture of worship. We **gathered weekly** in a living-room setting for **“Home Worship,”** focusing on community-building and strengthening the Loretto team. These gatherings also became a place where new people joined the ministry, discovered their callings, and were encouraged to grow in their gifts — from worship leading and music to prayer and hospitality. We began exploring **new parish spaces** to relaunch more outward-facing worship nights. In December, we relaunched our **parish worship night in Kew** , which drew a large attendance from both the Loretto community and parishioners. On average, 10–20 people attended the weekly Home Worship gatherings, and 50–60 joined the Kew parish gathering, resulting in a total of around **30 worship gatherings** with approximately **450 participants across 2024** . ## **2. COMMUNITY: Building intentional Christ-centred community** Our vision is **to build a Christ-centred community** marked by radical hospitality, a desire for personal encounter with Jesus, and a call to make disciples. In 2024 we sought to grow deeper in friendship and faith, to be recognised by the way we love and support one another, and to become a “spiritual home” for many. We **launched a weekly small group** , gathering around food, prayer, and discipleship. This group has become the heart of our community life — a place of formation, encouragement, and support in living out faith in everyday life. Two people joined the **Year of Discernment (Postulate** ) as part of the Loretto Covenant Community, marking an important step in their personal faith journeys and strengthening our wider community ## **3. DISCIPLESHIP & MISSION: Reaching people where they are** We feel called to bring our “Worship Night” format as a fresh and attractive way of engaging with faith, particularly for young people and those outside the church. In 2024 we piloted a **parish outreach in Southeast London** . With our Loretto team and equipment, we organised **two worship nights** , trained local volunteers, and helped the parish experience a new way of worship. As a result, the parish has continued running regular worship nights, and a local community is now growing in faith and participation. These outreaches also gave our own ministry team the opportunity to step into new roles, grow in leadership, and develop their gifts in worship, organisation, and pastoral care. Another highlight was the “ **Worship Day** ” at St. Paul’s Hammersmith, run in collaboration with **One Hope Project** . Around **150 people, mostly young people** , took part in worship, breakout workshops, and prayer ministry, with confession available throughout the day. This event not only impacted participants but also stretched and strengthened our team, as members led workshops, facilitated prayer, and discovered new ways to serve. **5** ## OUTLOOK: PLANS FOR THE FUTURE ## **1. PLACES OF PRAYER, WORSHIP & ENCOUNTER** In 2024 we re-established a parish worship night and created consistency through weekly Home Worship. In 2025, we plan to take this further by establishing a regular rhythm of larger parish worship nights, alternating with more intimate home-style gatherings. We also want to explore starting an additional central worship location, approaching Farm Street parish, which already hosts a vibrant young adult community. This will give us the chance to connect with more people and create further spaces of encounter. ## **2. BUILDING a LIFE-GIVING COMMUNITY** The small group has become the heart of our community life, and two people entered the Year of Discernment in 2024. In 2025, we want to expand both — welcoming new people into the small group, creating deeper bonds of discipleship, and inviting more participants into the Postulate year. Our aim is to grow as a spiritual family that supports each other in holiness and discipleship, and becomes a home for many ## **3. MISSION & OUTREACH** Having seen the fruit of outreach in Southeast London, where local volunteers continued what we started, we now want to multiply this model. In 2025 we plan to respond to parishes that are hungry for renewal and open to new formats, bringing worship and encounter into “dry places”. Our hope is to empower local teams, leave behind sustainable practices, and extend the culture of worship we have been cultivating. ## **4. BUILDING & TRAINING THE TEAM** In 2024, new people joined the ministry and began growing in their gifts. In 2025 we want to build on this momentum by intentionally developing the Loretto team. Our focus will be on establishing dedicated worship and prayer ministry teams, providing training and regular practice, and growing a pipeline of emerging leaders. With stronger structures and more confident ministers, we will be able to host regular events at a higher quality and serve more communities with excellence. **6** ## OPERATIONAL SUPPORT AND CHALLENGES ## **The activities of Loretto UK have been mainly supported by volunteers who have given their time to help our mission and from some freelancer work, either through the Mission Partner Development (MPD) programme or specialists.** Since the beginning, Loretto UK has been carried by the support and time of many volunteers. Time availability not having any full time or part-time dedicated resource has been and continue to be a challenge. We keep outsourcing some specific operational tasks to specialists, like Gift Aid, the successful implementation of ChurchSuite and accounting. ## **FACTORS AFFECTING OUR ACHIEVEMENTS** Even though donations were strongly reduced with the closure of the Loretto Home, our liquidity has remained constant. Yet as we aim to grow the ministry again we need to start fundraising again, especially targeting regular comers, supporters of Loretto London and people who have been touched an benefited from our ministry. 2024 has been a year for refocusing, and strategically rethinking how we operate, what our priorities are and keep strengthening our identity and culture. **7** FINANCIAL PERFORMANCE, RESERVES AND RISKS ## **FINANCIAL PERFORMANCE** ## Total receipts for the **year ending 31 December 2024 were £17,051 all comprising donations, gift aid and bank interests.** As expected the receipts and donations in 2024 have reduced showing a negative position in 2024. At the same time also the payments have drastically reduced since the closure of the Loretto Home. The charity still relies on the generosity of individuals who decide to support the mission by giving monthly. Some donors have been supporting the work of individual missionaries while other partners or donors have been supporting the overall mission and their giving has supported the general work of the charity. **Total payments amounted to £19,172** largely comprising establishment and general office costs and events costs. The **net payments** of the charity during this period were **£2,121.** ## **FINANCIAL POSITION AND RESERVES** **The net assets of the charity as of 31 December 2024 were £19,199** . Net assets comprised £16,630 of cash at bank and £2,569 of assets for the use of the charity – being furniture and musical instruments. The charity does not own any real estate and has no investments. The trustees’ policy is to ensure that the charity has a level of free liquid reserves which is adequate to meet its obligations. As of 31 December 2024, free liquid **reserves were £16,630.** ## **FINANCIAL RISK** The principal financial risk relates to the fact that the charity is wholly reliant upon donations to fund its work, and it currently has a relatively modest level of liquid reserves. However, the charity is starting to build a financial cushion of free reserves and has a high degree of control over its expenditure to ensure that receipts and payments can be kept in proportion to each other. Moving ahead we need to find new ways to create visibility about our work through regular communication, marketing and events. **8** INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF LORETTO UK I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2024. ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ………………………………………. Charlotte Chapman Gibbs BFP FCA Date:16 October 2025 Wortham Jaques Ltd 130a High Street Crediton EX17 3LQ **9** ## RECEIPTS AND PAYMENTS ACCOUNT |**eceipts**
Bank Interest
Gift Aid
Donations
**otal Receipts**
**ayments**
Missionary Expenses
Charitable Activities
Operational Costs
Team & Development
Travel and Admin
Marketing
**otal Payments**
**et of Receipts/(Payments)**
ransfers between funds
**ash funds last year end**
**ash funds this year end**|**Unrestricted**
**Funds 2024**
**Restricted**
**Funds 2024**
**Total**
**Funds 2024**
**Total**
**Funds**
**2023**
**£**
**£**
**£**
**£**
38
-
38
12
2,951
-
2,951
13,747
12,562
1,500
14,062
36,407| |---|---| ||**15,551**
**1,500**
**17,051**
**50,166**| ||89
-
89
18,915
9,012
-
9,012
-
6,579
-
6,579
9,541
1,303
-
1,303
-
-
-
7,058
778
1,500
2,278
66| ||**17,672**
**1,500**
**19,172**
**35,580**| ||**(2,121)**
**-**
**(2,121)**
**14,586**| ||**(6,112)**
**6,112**
**-**
**-**
**24,863**
**(6,112)**
**18,751**
**4,165**| ||**16,630**
**-**
**16,630**
**18,751**| **RECEIPTS AND PAYMENTS** YEAR ENDING 31 DECEMBER 2024 **10** ## STATEMENT OF ASSETS AND LIABILITIES ## **STATEMENT OF ASSETS AND LIABILITIES** AS OF 31 DECEMBER 2024 |
Total Cash Funds
Assets retained for own
use
**Total Assets**
**Liabilities**
**Total Net Assets**
**Total Reserves**|**Unrestricted**
**Funds 2024**
**Restricted**
**funds 2024**
**Total**
**Funds 2024**
**Total**
**Funds 2023**| |---|---| ||**£**
**£**
**£**
**£**
16,6302
-
16,630
18,751
2,569
2,569
2,569
**19,199**
**-**
**19,199**
**21,320**| ||**-**
**-**
**-**
**-**
**19,199**
**-**
**19,199**
**21,320**| ||**19,199**
**-**
**19,199**
**21,320**| **11** ## ACCOUNTING POLICIES AND NOTES TO THE ACCOUNTS ## **A. BASIS OF PREPARATION** The accounts have been prepared on a receipts and payments basis as permitted under Section 133 of the Charities Act 2011. ## **B. FUND ACCOUNTING** Unrestricted funds are general funds that are available for use at the charity trustees’ discretion in furtherance of any of the objectives of the charity. Restricted funds may only be used for certain specified purposes. The charity has a restricted fund relating specifically to missionary expenditure. ## **C. GOING CONCERN** The charity has a high degree of control over its expenditure and is able to ensure that it operates within its means. The trustees are satisfied that the charity is able to prepare its accounts on a going concern basis. ## **NOTES TO THE ACCOUNTS** ## **1. DONATIONS** Donations largely comprise one-off or monthly donations to the charity from partners and supporters. Some of these donations are restricted, specifically supporting the work of the missionaries. In addition, the charity runs regular crowdfunding campaigns through JustGiving. In future, the charity may apply for grants from trusts and foundations. ## **2. ASSET PURCHASES** **----- Start of picture text -----**
Year ending Period ending
31 December 2024 31 December 2023
£ £
Assets b/f 2,569 2,569
- -
Music Equipment
Furniture - -
Total Asset Purchased - -
Assets c/f 2,569 2,569
**----- End of picture text -----**
**12** ## DECLARATION The charity trustees declare that they approved the report and accounts for the year ending 31 December 2024. On behalf of the Board: Name: Wolfgang Mayrhofer Position: Chair Date: 16.10.2025 **13** Loretto U K Charity Registration Number: 1191616