CATHOLIC CHARITABLE TRUST
REPORT AND FINANCIAL STATEMENTS
for the year ended 31 st December 2024
Hunters Law LLP
9 New Square
Lincoln's Inn
London
WC2A 3QN
WVM.35444-1

CATHOLIC CHARITABLE TRUST
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
Contents
Page
Independent examiner's report
Trustees, Report
Balance sheet
Stalemenl of Financial Activities
Donations
Investments
9-10
Notes to the Accounts
11-12

Independent Examlners Report to the Trustees of Catholic Charitable Trust
I report on the accounts of the Trust for the year ended 31 De¢ember 2024
RespeGtive responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's
IrLJslees consider that an audit is not required for this year under section 144121 of the Charities
Act 2011 (the 2011 Act) and Ihal an independent examination is needed.
It is my responsibility to..
ex2mine the accounts under section 145 of the 2011 Act.,
to follow the procedures laid down in the General Directions given by the Charity
Commissioner under section 14515llb) of the 2D11 Act., and
to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the Genèral Directions given by the
Charity Commissioner. An examination includes a review of Ihe accounting records kept by
the charity and a comparison of the accounts presented wllh tnose recortjs. It also Inc5uaes
consideration of any unusual items or disclosures in the accounts, and the seeking of
explanations from you as IrLJStees concerning any such matters. The proceduros undertaken
do not provide all the evidence that would be required in an audit and, consequeritly no opinion
is given a5 to whether the accounts present a 'true and fair view, and the report is limited lo
those matters sel out in the statement below.
Independent examiner s statement
In connection with my examination, no matter has come lo my attention..
which give5 me reasonable cause lo believe that, in any material respect, the
requirements..
lal
Ibl
lo keep accounting records in accordance with section 130 of the 2011 Act., and
lo prepare accounts which accord with the accounting records and to comply with
the accounting requirements of the 2011 Act have not been mel., or
lo which, in my opinion, attention should be drawn in order to enable a proper
understanding of the accounts to be reached.
Colin Reid FCA
Burgess Hodgson LLP
Chartered Accountants
27 New Dover Road
Canterbury
Kent
CT13DN
February 2025

CATHOLIC CHARITABLE TRUST
ort of the Trustees for the
ear ended 31st Dec8mber 2024
The Trustees present their annual report and financial statements of the charity for the year
ended 31st December 2024. The finan¢ial statements have been prepared in accordance
with the accounting policies set out in the noles lo the accaunts and comply with the
charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities..
Statement of Recommended Practice applicable lo charities preparing their accounts In
accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021{Charities SORP IFRS 10211
Objectives and Activities for the Public Benefit
The purposes of the charity are the advancement of religion in any part or parts of the world
by means of the sacraments, services, ceremonies, rituals and missionary and other work
of all kinds of the Roman Catholic Church and for such other objects if any (being charitable
in the legal sense of that word) in connection with the Roman Catholic Church. It is the
general policy of the TrLJStees to support charities involved with the traditional teachings and
practice5 of the Roman Catholic Church as these were laughl and accepted by Calholics
before the Second Vatican Council, including the preservation of the Latin Liturgy and
Traditional Liturgical Services. The Trustees consider the charities, activities are for the
public benefit. The trustees confirm that they have complied with their duty under s1715} of
the Charities Act 2011 to have due regard to the guidance published by the Charity
Commission for England and Wales.
Method of appointing new trustees
The power of appointing new trustees is vested in the trustees. Any new trustee appointed
is inforrned as to the charity's activities and aims and provided with copies of the governing
document, Minutes of recent meeting5 and the latest financial accounts.
Volunteers
Aside from the Iruslees, the charity receives no a551Stance from volunteers.
Wider network
The charity acts independently and is not part of a wider nebNDrk.
Donations
The charity is not involved in fund-raising or publicity and receives no donations.
Grant making policy
The charity does not invite applications for grants bul does consider unsolicited appeals. 11
support5 several charities on an ongoing basi5, subject to reports and appeals being
received. Due lo the high volume of unsolicited appeals received, the trustees regret they
cannot acknowledge all applications and will only respond if the applicant is successful.
During the year the Trust supported 17 Catholic charities with varying objectives.
organisations support the Latin Mass,. 2 SUPPDrt missionary work., 2 charitie5 are based in
California and were previously 5UPPOrteé by Claude, Countes5 of Kinnoull, a major
benefactor of the charity. The largest grant wa5 for £20,000 towards the traditional
teachings of the Roman Catholic Church.

Investment policy and performance
The charily has professional investment advisers who manage the porffolio on a medium
high-risk basis with a balanced investment objective. Their recommendations are subject to
the review of the Truslees.
During the year the charity disposed of investments for £478,696 realising a gain on their
value5 at the start of the year of £81,407. The charity purchased len investments al a cost
of £465,547. The annual revaluation of the investments saw a gain during the year of
£106,828 and the lolal value of the charity increased during the year by 4.55010.
At 31 st December 2024 the investments were held in the following classes. All investments
were held al fair value'.-
2024
2023
UK fixed interest
Forei
n fixed interest
UK listed equities
Oversea5 listed e
Cash
9.727/.
25.674°10
63.393°/.
1.851 /0
25.3840/.
62 2590/0
uilies
Financial Review
The charity's fund5 increased from £3,447,122 to £3.604,002 in the year. All income is
received from investment income which increased to £111.938 12023.. £99,371}.
Expenditure decreased to £143,01512023. £144,818).
Reserves policy
The Trustees have power under the governing dacumenl to apply income and capital for the
charity's objectives. In practice the Trustees aim to distribute the income and lo build up the
capital as unreslricled reserves. The reserves at the year-end were £3,604,002 (2023:
£3,447,122).
Risk management
The principal risk faced by the charity lies in the performance Df inveslmenls. This is
miligated by retaining expert inveslmenl managers and having a diversified investmenl
portrolio. The Trustees have reviewed the risks to which the charity is exposed and
consider that they have established sufficient systems and procedures lo mitigate those
risks. Where appropriate, risks are reported on and discussed al subsequent meetings.
Plans for the future
The Trustees expect lo be able to continue at approximately Ihe sarne level of activity in
2025 as in previoLJS years.
structure, governance and management
The charity is registered with the Charity Commission number 215553 and is constituted
under a Declaration of Trust dated 15 March 1935. It received 18rge gift5 from Claude,
Counte55 of Kinnoull on its inception and seeks to continue its charitable work through the
careful slewardship of its existing resDurces.

The Trustees manage the charity and take all decisions jointly with regard ta the review of
the Trust's activities and achievement of objectives. Day to day administrative tasks are
delegated lo the charity's legal and investment advisers. The Trustees meet at least once a
year to agree grants and policies and deal with other matters by correspondence as they
arise.
Relatod party transactions
The charity has no subsidiaries and is not connecled with any olher charity. None of the
Trustees were paid remuneration or expenses for the year. Mr W E Vernor-miles is a
partner in the firm of Hunters Law LLP who prepared the Trusl Accounts and act In the
administration of the charity. Hunters received fees of £19,156 plus VAT for Ihis work in the
year12023. £16,647) Mr Orr was a memb8r of the firm Raymond James, who were the
charity's Inve51menl Managers and received management and sundry fees of £11.927 plus
VAT in the year12023'. £11,242).
Travel expenses of £180 (2023.. £nill were reimbursed to Trustees during the year.

Ref•ren¢o and Adminlstrativ• Delails
Charity rogistrallon numbgr
215553
Prin¢lpal addr•s$
9 New Square
Lincoln's Inn
London
WC2A 3QN
Trustees
John Crosfield Vemor-miles
Wilfrid Edward Vemor-miles
David Peter Orr
Jennifer Frances Vernor-miles
Independent Examinor
Colin Reid FCA
Burgess Hodgson LLP
27 New t)over Road
Canterbury
Kent
CT13DN
Solicitors
Hunters Law LLP
9 New SquaT8
Lin￿In'S Inn
London
WC2A 3QN
8ank•rs
CAF Bank Ltd
25 lQ'ngs Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Invesknent Managors
Raymond James Investment Servtces Ltd
1 lQng William Streat
London
EC4N 7AF
Approved by the trustees on ......
2e>zf
and signed o
eir
alf by..

CATHOLIC CHARITABLE TRUST
BALANCE SHEET as at 31st December 2024
Unrestricted funds
2024
2023
Notes
Fixed asset5
Investments
3,540,839.08
3.365,752.79
Current assets
Raymond Jame5 combined income & dealing £
Raymond James US$
CAF Bank
Hunters
45.017.04
7.58
13,905.66
7,851.91
49,967.95
0.00
35,920.55
5,044.23
Net Current assets
3.607.621.27
3,456,685.52
Creditor5- amounts falling due within one year
Accruals
{3.619.20)
19,564.00)
Net assets
Represented by..
Unrestricted funds
3,604,00
3,447,121.52

CATHOLIC CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES for the
ar ended 31 DECEMBER 2024
Unrestricted funds
2024
2023
INCOME
UK Fixed Interest
Foreign Bond Interest
UK Dividends
Foreign Dividends
Bank interest received
2023 donalions re-crediled
17,315.38
0.00
49,386.31
37,552.10
1,684.10
6,000.00
17,299.89
O.DO
46,746.76
34.618.54
705.94
0.00
Tolal income
111,937.89
99,371.13
EXPENDITURE
2024
2023
Charitable donations
104,392.33
110,335.34
Hunters Law LLP costs to December 2024
Raymond James rnanagemenl costs
Raymond James valuation fees
LEI Application fee
Trustees. travel expenses
Burgess Hodgson Independent Examiners fee
Bank fees
22,987.20
14,282.80
30.00
0.00
180.00
954.00
188.49
19,975.80
13,460.17
30.00
0.00
o.oo
870.00
146.56
Total expenditure
143,014.82
144,817.87
Net incomel{expenditure) and net movement in funds
(31,076.931
145,446.74)
Realised gainsl{lossesl on investments
Unrealised gainsl{lossesl on investments
Net gain I (loss) on currency conversions
81,406.52
106,828.07
{277.111
6,189.33
208,026.40
0.00
Net movement in funds
156,880.55
168,768.99
Total funds brought forward
3.447,121.52
3.278,352.53
Total funds carried fonvard
3,604,002.07
3,447,121.52

CATHOLIC CHARITABLE TRUST
DONATIONS made in the
ear ended 31st December 2024
2024
2023
CAFOD
California Friends of the Society of St Plus X {$7,000)
Canons Regular of Premontre
Cardinal Hume Centre
Carmelite Monastery Carmel California {$6,0001
Catholic Bishops Conference for England and Wales
Chavagnes International College
Institute of the Blessed Virgin Mary
Latin Mass Society
Little Sisters of the Poor
Ordinariate of Our Lady of Walsingham Central Church Music
Our Lady of the Rosary & St Dominic's (Church maintenance)
Our Lady of the Rosary & St Dominic's (for Latin broadcast)
Radio Maria
Religious of Mary ImmacLJlate
Roman Catholic Diocese of Peckham
SS John and Elizabeth Charity
St James Church Spanish Pla
Sl Peters Winchester
st Peters Winchester (school in India)
Society of Saint Plus X - England
Society of Saint Plus X - Switzerland
Society of Missionaries of Africa (White Fathers)
Missionary Sisters of Our Lady of Africa (White Sisters)
10,000.00
5.600.00
0.00
5,000.00
4,792.33
5,000.00
0.00
5,000.00
2,000.00
8,000.00
0.00
3,000.00
4,000.00
5,000.00
0.00
5,000.00
0.00
0.00
2,000.00
2,000.00
20,000.00
8,000.00
5,000.00
5,000.00
0.00
4,819.28
5,000.00
4,000.00
4.016.06
5,QOO.OQ
6,000.00
0.00
2,000.00
8,000.00
2.000.00
3,000.00
0.00
0.00
20,000.00
0.00
4.000.00
1,500.00
3,000.00
0.00
20,000.00
8,000.00
5.000.DO
5,000.00
104,392.33
110,335.34

CATHOLIC CHARITABLE TRUST
INVESTMENTS held at 31st December 2024
Value at
3111212024
Value at
3111212023
Income
UK BONDS
£25,000
Treasury 4 125Qlo IIL SNR NTS 221712030
acc inleresl
$300,000 Tesco 6.15Dlo Snr Nts 15111137
acc Interest
FOREIGN BONDS
None al year end
UK SHARES
6,000
Aviva 8.75 /. Cum Irre Pref £1
3,200
BHP Billilon US$O.50
16,000
BP Ord US$O.25
3,450
British American Tobacco Ord 25p
3,100
Diageo Ord 28p
3,494
GSK PIC Ord 31.25p
30,600
Haleon Ord 1 p
100,000
Lloyds Banking Ord 10p
41,000
M&G Ord 5p
2,000
Rio Tinto Ofd 1 Op
4,100
Shell PIC Ord É0.07
3,850
Unilever Ord .03111 p
FOREIGN SHARES
80
Adobe Co
860
Alphabet Inc Cap Stock "C" Class
1,150
Apple Inc Com NPV
3,000
ANZ Group Holdings NPV
350
Beclon Oickinson Com
1,100
Canadian Pacific Kansas CDM NPV
230
Deere & Co Com US$1
1,400
Emerson Electric Com USSO.50
300
Equifax Inc Com Stock US$1,25
1,632
Jardine Malheson USSO.25
20.000
JP Morgan Asian Investment Trust Ord 0.25
140
LVMH Moel Hennessy Ord £0.30
1,000
Microsoft Com
1,050
Philip Morris Com
1,000
Pinleresl Com
900
Remy Coinlreau Ord £1.60
2,500
Nestle SACHFO.10
2,050
Novartis AG CHFO.50
54,000
Polar Capital Tech Trust Ord 2.5p lafler 10..1 5plill
1,700
Procler & Gamble Com NPV
410
Sandoz Group AG
2,500
Verizon Communications US$O.10
5,680
Woodside Energy Ord
2,872.37
84,599.85
453.95
240,761.47
1,842.09
87,733.16
453.95
246,219.28
1,810.55
14.443.01
787.50
3,612.07
2,885 27
8.085.42
1,944.88
2,097.00
1,382 70
1,840.00
5,544.00
6,759.g6
4,387.82
5,651.79
8,100.00
62,464.00
62,880.00
99,360.00
78,662.50
47,060.18
115,484 00
0.00
81,118.50
94,460.00
101,516.00
175.098 00
7.860.00
86,064.00
37,292.00
7g,194.75
42,840.00
50,684.49
59,022.78
47,710 00
47,816 00
116,840.00
105,431.50
146,300 00
0.00
384.08
849 61
4,023.48
873 00
85.61
219.17
1.926.59
307.96
2,863 00
2,360.00
80g.38
1,404.78
4,232.51
0.00
1,114.12
4,295.39
3,872 55
0.00
4,470.60
104.10
3,356.17
4,407.90
104,253.79
28,416.55
130,824.91
23D,038.58
42,327.47
63,427.70
63,589 45
77,843.10
138,592.05
61,071.66
53,409.68
000
73.559.32
289,554 19
100,941.38
D.00
43.455 97
164,933.92
160,207.05
188,190.00
227,659.78
000
79,859.25
69,076.53
3,540,839.08
37,471.93
132,775.38
217,667 58
41,621.84
67,002 04
0.00
0.00
106,981.24
58,245 27
52,802.64
68,000.00
44,497.21
295,234.36
77,556.72
29,080 63
29,894.72
227,200.71
162,15434
259,500.00
195.586 09
10.340.28
38,478.45
50,388.90
3,365,752.79
Market Value a131112123 of investments sold in the year
Cost of investments PUTchased In the year
Adjusted Market Value at 31112123
Market Value al 31112124
1397,289.241
465,547.46
3,434,011.01
3,540 839.08
UNREALISED GAINILOSS IN 2024
106,828 07

CATHOLIC CHARITABLE TRUST
INVESTMENT CHANGES durin
the
ear ènded 31st December 2024
VdlU¥ tll
31112123 (or
cost if
bought in
the year)
Proceeds
Gainl Loss
Disposals
04107124 100,000 Lloyds Banking Ord 1 Op
55,723.91
47.710.00
8,013.91
04107124 4,600
Polar Capital Tech Trust Ord 25p
153,515.02
119,370.00
34.145.02
04107124 410
Sandoz Group AG
11,495.14
10,340.28
1.154.86
05107124 340
Alphabet Inc Cap Stock "C" Class
50,424.45
37,619.69
12,804.76
05107124 1,000
Pinterest Com
33,985.17
29,080.63
4,904.54
05107124 290
Apple Inc Com NPV
50,885.39
43,835.83
7,049.56
05107124 140
Microsoft Com
50,940.88
41,332.81
9,608.07
23107124 20,000 JP Morgan Asian Inv Trust Ord 0.25 71,725.80
68,000.00
3,725.80
478,695.76
397,289.24
81,406.52
Acquisitions
Cost
04107124 8,000
BP Ord US$O.25
39,072.20
04107124 1,600
Diageo Ord 28p
40,752.73
04107124 12,250 HaleDn Ord 1p
40.439.55
04107124 2,650
Woodside Energy Ord
41,005.21
04107124 19,500 M&G Ord 5p
40,879.97
04107124 600
Remy Coinlreau Ord É1.60
40,893.14
04107124 70
LVMH Moet Hennessy Ord £0.30
43,543.24
05107124 1,100
Canadian Pacific Kansa5 Com NPV
71,851.24
05107124 230
Deere & Co Com US$1
67,246.90
05107124 1,200
Verizon Communications US$O.10
39,863.28
465,547.46

CATHOLIC CHARITABLE TRUST
NOTES TO THE ACCOUNTS
1. Statement of Trustees. Responsibllities in Respect of the Accounts
In accordance with the Charity Commission's Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 102) (Charities SORP (FRS 102)), Accounting for Charities, the
Charity Iruslee5 are responsible for preparing a Irustees, annual report and financ￿al statements
in accordance with applicable law and United Kingdom AccoLJnling Standards (United Kingdom
Generally Accepted Accounting Practice). The law applicable to charities in England and Wales
requires the Charity trustees to prepare financial statements for each year which give a true and
fair view of the state of affairs of the Charily and of the incoming resource5 and application
of resources, of the charity for that period. In preparing the financial slaleNents, the trustees are
required lo..
select suitable accounting policies and apply them consi5tenlly',
observe the methods and principles in the applicable Charilies SORP.,
make suitable judgements and estimates that are reasonable and prudent-,
state whether applicable accounting standards and statements of
have been followed subject to any material departures disclosed in
prepare the financial slalemenls on the going concern basi5 unless il
presume that this basis applies.
The Iruslees are responsible for keeping proper accounting records that disc105e with reasonable
accuracy at any time the financial position of the charity and to enable them to ensure that the
financial slalements comply with the Charities Act 2011, the applicable Charities (Accounts and
Reports) Regulations, and the provisions of the Trust deed. They are also responsible for
safeguarding the assets of the charity and taking reasonable steps for the prevenlion and
detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial
information in accordance with legislat￿On in the United Kingdom governing the preparation and
dissemination of financial slatemenls.
2. Basis of Preparation
The accounts have been prepared under the historical cost convention with Items recognised at
cost or transaction value unless otherwise staled in the relevant nole(sl to these accoLJnls.
The financial statements have been prepared in accordance with the Staternenl of
Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS1021 issued on 16th July 2014 and the Financial Reporting Slandard applicable in the United
Kingdom and Republic of Ireland {FRS 102} and the Charities Act 2011 .
The trust conslitules a public benefit entity as defined by FRS 102.

3. 1 nve5tments
All investments are carried al their fair value. Investments in equities and fixed interest securities
are all traded in qUDted public markets, primarily the London Stock Exchange, Holding5 in
common investment funds, unit trusts and open-ended investment companies are at the bid price.
The basis of fair value for quoted investments 15 equivalent to the market value, using the bid
price. Asset sales and purchases are recognised al the date of trade at cost Ilhal is their
transaction value).
The proportion of equities to fixed interest securities at the end of the year is much the same as
Ihe previous year, and the Trustees are happy with the balance between Ihe asset classes al the
end of the year.
4. Judgements and estimation uncertainty
The preparation of the financial slalernents requires management lo make judgements, estimates
and assumptions that affect the amount reported. Accounting estimates and assumptions are
made concerning the future and, by their nature, will rarely equal the related actual outcome.
These estimates and judgernents are continually reviewed and are based on experience and
other factors, including expectations of future events that are believed lo be reasonable under the
circumstances.
5. Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the
onlractual arrangement entered into.
Debtors and creditors with no slated interest rale and receivable or payable within one year are
recorded al transaction price. Any losses arising from impairment are recognised in the profit and
loss account in other administrative expenses.
Loans and borrowings are initially recognised at transaction price including transaction costs.
Subsequently, they are measured at amortised cost using the effective interest rale method,
less impairment. If an arrangement conslitules a finance transaction it is measured at present
value.
6. Creditors at 31.12.2024
Hunlers Solicitors
£3,619.20
7. Staff costs
The average head count of employees during the year was O12023-. Nill. No employee received
employee benefits of more than £60,000 during the year12D23'. Nill. This employee and key
management personnel figure does not include the Trustees appointed and in position during
the year.
8. Trustee remuneration and expenses
No remLJneration or benefits were paid to the Trustees of the Charity in the current or previous year
other than travel expenses reimbused lo John Vernor-miles and Jennifer Vernor-miles of £180
in 2024.