2025-12-31-accounts

O.F.M. CAPUCHIN GB CHARITABLE TRUST CHARITY NO. 231143

ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2025

contents

Table of Contents
Message from the delegate	1
Who we are	3
Our way of life	4
Vocations	5
Formation	6
Development of Friars	8
Leadership	10
Our achievements in 2025	11
Pastoral	12
Domestic	13
International	19
Educational	20
Challenges and Actions	22

Circumscription structure	23
Public Beneft	23
Our Policies	23
Governance	25
Statement of trustees’ responsibilities	26
Structure and management reporting	27
Key management personnel	27
Risk management	28
Our Future	31
Delegation Plan	31
Income and expenditure	32
Financial report for the year	34
Independent auditor’s report	38
Statement of fnancial activities: Year to 31 December 2025	44
Balance Sheet	45
Statement of Cash Flows	46
Principal Accounting Policies	47
Notes to the Accounts	56

The trustees present their statutory report together with the accounts of the O.F.M. (Capuchin) GB Charitable Trust (the “charity”) for the year ended 31 December 2025. The accounts have been prepared in accordance with the accounting policies set out on pages 47 to 55 of the attached accounts and comply with the charity’s trust deed, applicable laws, applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

Br James Boner OFM Cap Br Krzysztof Przybylski OFM Cap Br Martin Mikuskiewicz OFM Cap Br Paul Coleman OFM Cap Br Gordon Pesterfield OFM Cap

TRUSTEES The trustees are incorporated under the Charities Act 2011

Provincial Delegate and Bursar

Br James Boner OFM Cap

Provincial office

Provincial office Provincial Curia Franciscan Friary Carlton Road Erith Kent DA8 1DN Charity Number 231143 Buzzacott Audit LLP Auditor 130 Wood Street London EC2V 6DL Bankers NatWest Bank plc NatWest Bank plc Oxford Central (B) 1st Floor 43 Cornhill 440 Strand Oxford London OX1 3HA WC2R 0QS Principal Investment Managers W1M (formerly Waverton Investments) 16 Babmaes Street London SW1Y 6AH Laytons LLP Clyde & Co (formerly Solicitors Pinners Hall BLM LLP) 105-108 Old Broad St Botolph Building Street London 138 Houndsditch EC2N 1ER London EC3A 7AR

MESSAGE FROM THE DELEGATE

Introduction

Br James Boner OFM Cap Provincial Delegate

Introduction to the Trustees’ Report of the GB Capuchin Trust “Will you be found wanting, or will you answer the call?”

These words, addressed by the Provincial, Fr. Cuthbert of Brighton (1926), to the friars of the British Province, carry a weight that extends far beyond the walls of our fraternities. They echo across centuries of Capuchin history and strike at the very heart of what it means to live as followers of St. Francis of Assisi in twenty-first century Britain. As the trustees of the GB Capuchin Trust present this report, we do so in the conviction that those same words must animate and inform the work of this Trust, its purposes, its stewardship, and its hope for the future.

The question Fr. Cuthbert posed is not new. It is, in truth, the oldest question in the Franciscan tradition. When Matteo da Bascio walked away from the comfort of his friary in 1525 to live the Rule of St. Francis to the letter in poverty, in simplicity, among the poor, he was answering a call that many of his contemporaries found too demanding, too inconvenient, too costly. The Capuchin reform that grew from his courageous step was born not from institutional strategy but from a willingness to be found faithful, rather than wanting. Every generation of Capuchins since has had to renew that same commitment.

The GB Capuchin Trust exists as the financial and charitable instrument through which the Provincial Delegation makes that commitment concrete. It is not merely an administrative vehicle for managing assets or distributing grants. It is the material expression of a spiritual vocation that the Delegation channels resources toward the proclamation of the Gospel, the care of the poor, and the flourishing

of fraternal life in these islands. In this sense, the Trust is inseparable from the mission of the friars themselves. To be found wanting in our stewardship of these resources would be to fall short of the very calling that gives the Trust its reason for being.

The period covered by this report has been one of considerable challenge and significant discernment. Like many religious congregations in Great Britain, the Delegation faces the pressures of a changing church landscape, declining numbers, ageing communities, shifting patterns of ministry, and the ever-present demands of maintaining historic properties in the service of apostolic work. These are not merely institutional problems to be managed; they are invitations to ask, with Fr. Cuthbert’s question ringing in our ears, whether we are responding with creativity, courage, and fidelity, or whether we are retreating into a cautious conservatism that mistakes the preservation of structures for the preservation of charism.

The Trustees believe that the answer the call demands of us in this moment is one of both prudence and boldness. Prudence in the responsible management of the charitable resources entrusted to this body, ensuring that every pound spent advances genuine charitable purpose, that our governance is transparent and accountable, and that we act always in accordance with our obligations to the Charity Commission and to those we serve. But boldness too the boldness of St. Francis himself, who did not wait for favourable conditions before embracing the poor, who did not calculate the risks before rebuilding the Church, but who heard a voice and acted.

It is in that spirit that the Trustees commend this report to all who have an interest in the life and mission of the British Capuchins. The pages that follow set out faithfully what has been done with what has been entrusted to us. They record not only figures and facts but the living witness of a Provincial Delegation striving, imperfectly and humbly, to answer the call. We invite you to read them not merely as an account of the past year but as a document of ongoing discernment and to join us in asking, before God and one another, whether we are being found wanting, or whether, by grace, we are rising to meet the hour.

Pax et Bonum.

Br James Boner OFM Cap

Provincial Delegate

WHO WE ARE

Worldwide:

Great Britain:

10,000 friars

26 friars in 4 fraternities & outside of GB

1,542 houses

108 countries

The Founding Friars

The Order of Friars Minor (Capuchin) (the “Order”) is an international Roman Catholic Religious Order of men (the friars), founded in Italy in 1528. The Order has maintained its essential character throughout the centuries. Friars live in communities, observing the Gospel of Our Lord Jesus Christ. They live under vows of poverty, chastity, and obedience, in accordance with the Order’s own Rules (Constitutions and Ordinances). The General Minister’s headquarters are in Rome, where he is assisted by a General Council that governs the Order worldwide. The Order is made up of Provinces, Custodies and Delegations, of which the Delegation of Great Britain is one.

Delegation of Great Britain

The Delegation of Great Britain is made up of perpetually professed friars living and working in four houses in Chester, Erith, Oxford and Durham, and occasionally in other locations. Responsibility for the Order in Great Britain rests with the Provincial Delegate and his Council.

The Delegation is under the constitutional jurisdiction of the Province of Ireland. The Parishes are entrusted to the Order’s care by the Local Bishop.

The accounts accompanying this report are those of a charitable trust on which the assets of the Order in Great Britain are held.

The charity is registered with the Charity Commission (registration number 231143). It is governed by a Scheme of the Charity Commission dated 21 April 2015 as amended by a scheme dated 23 September 2016.

All monies collected by the Parishes constitute the stable patrimony of each Parish and, in accordance with Canon law, cannot be used for any other purpose. Such monies are shown as Restricted funds in the accounts. All material expenditure in connection with the Parishes, including that for property repairs, is paid directly from Parish funds.

Inspired by the life and writings of St Francis of Assisi, we strive to authentically live a life of prayer, fraternity and ministry as brothers in simplicity, humility and joy.

Engagement with people in the communities in which we live, particularly the poor and marginalised, is a fundamental aspect of our mission.

Our work in chaplaincies – schools, hospitals, and prisons is an expression of the evolving nature of the Capuchin mission as we seek to go beyond service in traditionally structured parishes. This wider social and pastoral outreach is a tangible demonstration of the friars’ contribution to the public. Through their retreat work and spirituality, the trustees believe the friars have positively influenced morals and attitudes and enhanced the spiritual well-being of those with whom they work.

The trustees, by giving donations to other organisations, also demonstrate public accountability. Many of the friars who deal with the public are involved in relieving poverty, advancing religion, and advancing education. This is complemented by the less quantifiable, but nonetheless impactful acts of kindness, hospitality, and mutual support demonstrated within and beyond the Order’s statutes and charism.

V o c a t i o n s

Vocations are at the heart and vitality of our professed way of life. We mean by vocation those men who are discerning if a life as a Capuchin Franciscan in Great Britain is one to which they can commit. We recognise, as does the Catholic Church, that a vocation to religious life is one among many.

The call to be a religious brother is a particular calling, but there is no hierarchy of vocations; one is not better than another. There has been a steady decline in the global number of candidates choosing to live within religious congregations. The Capuchins in Great Britain have not been immune to this. Promoting vocations is a critical path to ensuring survival and protecting our charism.

To ensure that vocations are at the centre of our life, our Delegation Chapter passed a resolution to appoint

a brother to promote vocations fulltime. The Delegate and Council, heeding this, appointed Br Sheline, who is accompanied by three other vocations promoters in our other friaries. Br Sheline has been very active this year in promoting vocations through his participation in various conferences and events.

In recognition of the oversight and close relationship with the Province of Ireland, we are engaged in their vocation commission, which meets periodically. There is also an international vocations commission in our General Curia who produce documentation and guidance.

F o r m a t i o n

Since formation tends towards the transformation of the whole person in Christ, it must be life-long, as regards both human values and the evangelical and consecrated life. Therefore, formation must involve both the actions and intentions of the whole person in its various dimensions— human, cultural, spiritual, pastoral and professional—taking every care to foster the harmonious integration of the various aspects. (Const 23,2)

There are two stages of formation: initial and ongoing.

Initial Formation is for those who have not taken their Perpetual Vows. In 2025, we welcomed Daniel and Trieu, who began their aspirancy programme in our friary in Erith on the 19th March 2025. They are currently our two postulants. We continue to collaborate with the Province of Ireland on best practice and with due regard to the ‘Ratio Formationis’. The variety of meetings and symposia on how best to bring our resources together to strengthen the Capuchin Family helps to ensure best practice in initial formation. It is hoped that with our involvement with the Durham University and the Centre for Catholic Studies, a Franciscan Summer Programme can be developed and will have an impact on the Third Franciscan Conference marking the 800th Anniversary of the Transitus of St Francis.

There is a written agreement to establish an English-language novitiate in Rochestown, Ireland. Currently, friars from the Provinces of Germany, Ireland, Slovakia, and Switzerland are involved, as well as from our own Delegation. The programme will begin in the summer of 2026, with a period of pre-novitiate at the friary in Ireland. The exact details will be agreed upon by the participating circumscriptions. Postulancy will be hosted in the country of origin.

Ongoing Formation is overseen by the Formation Commission, whose remit is to devise a programme of engagement to enable the friars’ continued growth. The Delegation formation council have joint meetings with the Province of Ireland, formation council.

Formation has multiple facets. These include spiritual, psychological, physical and personal.

The Capuchin Constitutions state that the first formator is the Holy Spirit (Article 23). The friars are encouraged to have spiritual and psychological accompaniment. The Delegation Plan outlines the path we hope will accomplish this for and on behalf of the friars.

There is ongoing formation through a Retreat (Personal and accompanied) as well as facilitated house meetings with the Guardians and those involved in International Fraternal Collaboration. Continued formation in the Franciscan tradition for which we are vowed has ramifications ad extra and ad intra. The members of the Delegation are continually involved in their own renewal at all levels, the more proficient they become in dealing with the people we encounter in our ministries.

One area that requires further development is ongoing formation in Franciscan Spirituality, History, and Philosophy. At present, there are few English-speaking courses. Fr. Wayne Hellman OFM Conv. has prepared four seminars for our ongoing formation this year:

• Role of Mercy in the Franciscan Tradition

• Joy of the Gospel – teachings of Pope Francis and

• St. Francis of Assisi

• Fraternity – the importance of brotherhood

• Testament of St. Francis of Assisi

We continue our engagement with the Centre for Catholic Studies at Durham University, especially the development of Franciscan Studies. We also subscribed to an online course on Franciscan spirituality offered by the Pontifical University Antonianum.

Another aspect of ‘formation’ is that of the lay collaborators who assist us as secretaries, catechists, finance commission members and auxiliary staff. It is imperative that those we work with and those who work for us understand our charism, as this insight assists us in our ministry and evangelisation. We could not fully function without their valued and important contribution. This ‘formation’ also extends to the accountants, solicitors and auditors, enabling them to evaluate and provide sound advice that aligns with our vowed way of life. We are grateful to these people and organisations.

Development of Friars

Personal Formation Plan (PFP)

The continued professional development of the friars is a key part of formation. The brothers are encouraged to keep up to date with developments in their field of speciality. These varied integration programmes enable us to broaden the social impact of the friars’ work beyond the borders of our present ministries. The Delegation conducted comprehensive interviews and developed PFPs for every friar; these will form part of future planning and the ongoing development of the friars to enhance their skills and respond to an ever-changing world. The PFPs will be updated yearly, thus ensuring that the friars remain focused on their personal development, which in turn assists the development of the trust.

International Fraternal Collaboration (IFC)

As reported in previous years, the inclusion of friars from other jurisdictions has become an integral part of the Delegation’s growth and sustainability. In 2004/2005, the Council recognised that the fall in vocations and the increasing age profile of the friars in our communities made it unsustainable for them to continue serving in our ministries and building viable fraternities. There was an approach to the Province of Warsaw that led to an agreement being signed, with the first brothers arriving in 2005. Since that date, friars have worked within the Delegation and been instrumental in growing the fraternal life and ministries. At present, there are three friars from Warsaw Province, with one on the Delegation Council. This agreement is crucial to the Delegation’s future vitality. We have long-term Polish ministries in Erith & Chester that serve a specific purpose in supporting this community. The Trustees are open to less permanent models of collaboration, which could see friars coming for a shorter period, introducing them to the realities in Great Britain and allowing us to use their skills to benefit them and society.

To build sustainable fraternal life and continue the development of the ministries (existing) and those that may emerge, the Delegation Council entered into an agreement firstly with the St Fidelis Province (India), with students coming to study and remain in the ministry of the Delegation. We welcomed the arrival of Br. Bijay Toppo from the Province has been appointed as our Delegation’s Postulancy Director.

The four friars from the Province of Pavanatma (India) hold important positions in ministry, which allows us to maintain our present ministries and contribute to our fraternal life and implementation of the Order in Great Britain.

After studies at the University of Newcastle, Br Sheline from St. Thomas Province in India was requested to remain in Great Britain to assist us in vocational promotion. He was appointed as the Vocation Promoter. We thank Br. Tochukwu Okonkwo from Nigeria, for his service in our friary in Erith, who went back to Nigeria during the summer of 2025. We planned that three Capuchin student friars from Nigeria will come to our Delegation soon. This is to assist the Custody of Nigeria and help us plan for ministerial outreach.

The Trustees recognise that International Fraternal Collaboration is an area of development that will ensure the presence of Capuchins and enhance the ministries as these agreements come to fruition. This initiative assists in integration into the wider cultural and church milieu and British society.

Leadership

The leadership model in Great Britain changed in July 2021 as we became a Delegation of the Province of Ireland. 2022 was our first full year operating under the new structure, with two Councillors also appointed as Trustees. Provincial Delegation and Trustees meetings are approximately every six weeks. The leadership for the friars comprises a Provincial Delegate and two Councillors appointed by Ireland for a three-year term, after consultation with the friars of the Delegation. The smaller leadership model is more fragile; with the addition of trustees, it at least widens the knowledge circle and builds resilience in leadership and governance.

A Delegation under the Province of Ireland

The Delegation of Great Britain has statutes which regulate the life of the Delegation under the Provincial and Council of Ireland. Br Ade Green from our Delegation has been elected to the Provincial Council of Ireland at the Provincial Chapter held in June 2025. Brothers from GB are part of the Vocation and Formation Councils of Ireland. We are also invited to the Provincial Retreat and an Annual Guardians & Vicars meeting.

How does this relate to the wider international leadership model?

After consultation with all Provincials of Europe, the General Minister and his council decided to abolish the existing structure and reconstitute it in a different form. This was to recognise the demise of vocations to religious life and to ensure better collaboration in Northern Europe. The New Conference continues to meet biannually, having last met in Frascati, Italy and Allotting, Germany.

OUR ACHIEVEMENTS IN 2025

During 2025 we have continued our mission to assist those we minister to directly, as well as the wider public, through many and varied initiatives.

150 Years of St. Francis’ church in Chester

The parish community in Chester celebrated the 150th anniversary of the church’s solemn opening in 1875. The friars celebrated this momentous occasion with a festive weekend of activities from the 2nd to 4th May 2025. It was a great opportunity to learn about the role of the Franciscans in Chester’s history, and, most importantly, for the current members of the parish community to come together to celebrate, worship, and enrich one another through the various events held during the time. The actual date of the anniversary was the 29th April.

“Exemplary” Status in Safeguarding Audit

We are one of the two religious Orders in Great Britain to have received the “Exemplary” rating in our safeguarding audit, which took place this year and was led by the CSSA (Catholic Safeguarding Standards Agency). The rating reflects robust governance, training, risk management, and compassionate support for those affected by harm. There is ongoing safeguarding training in place. We would also like to thank all the Parish Safeguarding Representatives who continually help us create a safe space for all parishioners we serve, both in our parishes and in our wider ministry.

Irish Provincial Chapter 2nd – 6th June 2025

Most of the friars from the Delegation were able to attend the Irish Provincial Chapter held at Maynooth. We congratulate the following brothers who have been elected by the friars: Br. Richard Hendrick (Provincial Minister), Br. Martin Bennett (Provincial Vicar), Br. Kevin Kiernan (Provincial Councillor), Br. Ade Green (Provincial Councillor), Br. Philip Baxter (Provincial Councillor).

The focus of this next triennium has been summarised by the theme of being enflamed by the fire of the Holy Spirit for our mission (together), for our International Fraternal Collaboration, and for our vocation. One such group is to explore the possibility of returning to a Delegated Chapter in the Province of Ireland. Another working group is tasked with evaluating and reviewing the IFC programme, with members comprising both the Irish Province and the Delegation of GB, and the IFC friars living in both territories. A third working group is tasked with exploring how to enhance the current relationship between the Province of Ireland and the Delegation of Great Britain, focusing on strengthening our fraternal ties and collaboration, as well as the juridical status of that relationship.

Pastoral

The Capuchins remain committed to working with and ministering to people in all walks of life, particularly the poorest and most marginalised, which has been at the heart of our vocation since our foundation.

Friars work actively with those on the edges of society. This includes, but is not exclusive to, those in prison and their families, and traveller communities. Our social and pastoral work is a key part of the formation that takes place for our friars and within our parishes. Friars and lay members of our communities assist in food programmes, such as food banks and soup kitchens, and social engagement, such as working with migrants and refugees.

Our pastoral work and social engagement often work through collaboration and partnership. We carry out our programmes in conjunction with external organisations (both Catholic and non-Catholic) in the UK and around the world as a constituent part of our Franciscan charism.

Our day-to-day parish work involves celebrating daily Masses and Sunday Masses, observing holy days of obligation, and providing spiritual direction. The friars provide the sacraments of Reconciliation, Anointing of the Sick, and Baptism regularly, and First Communion and Confirmation annually. They also celebrate marriages when requested. We are dedicated to supporting the bereaved during their time of grief and conducting funeral services within the community. Although these sacraments and services are provided largely for Catholics or those intending to become Catholic, services within our parishes are open to all.

Success is measured by the numbers attending Sunday Masses, the numbers of young people, the number of those converting to Catholicism within the parish,

the variety of parish activities and local engagement, national social engagement, and financial viability.

Regular meetings take place between the friars and the priests of the local deanery (the local group of parishes). Here, common objectives are set, and the solutions to ongoing challenges are discussed. There is outreach to the Polish ministry and assisting the clergy in fulfilling their ministries by supporting them with Mass and the sacraments.

During the year, the Trust made donations to projects in Poland, the Capuchin General Curia (Rome), Across, London Catholic Worker, Marriage Care, Durham University, The Centre for Catholic Studies and Custody of Nigeria.

Many dedicated volunteers contribute so much to the work of our parishes. Parishioners are part of the welfare and daily running of their own parishes. Some provide pro bono professional advice. Others give voluntary assistance to help the friars run programmes of spiritual development, liturgy, and catechesis, as well as social outreach to establish connections among people and cement strong bonds of support.

Domestic

Parishes

Chester (St Francis), founded 1875

Our parish in Chester is situated within the ancient city walls and has a particular ministry to those who work in and visit this historic city. We are grateful for the presence of friars from a Polish province and for their introduction of a Polish-language Mass and ministry to the Polish community in the area. Over the years, this community within St Francis’ parish has grown, creating demand for a second Polish Mass. We are grateful to the Capuchin Friars from the Province of Warsaw for their continued fraternal support and for the brothers from their Province.

The Polish community accounts for roughly two-thirds of the churchgoers at St Francis, and their weekly donations are largely responsible for ensuring the parish remains financially viable. Overall attendance continues to increase gradually. The community has a wide pastoral engagement, including retreats in Lent and Advent, with catechesis at all levels: First Communion, Confirmation & marriage preparation.

Being a community of faith in a thriving city is a tangible witness to God’s presence, serving the people and fostering the flourishing of the wider community.

Erith (Our Lady of the Angels), founded 1870

The parish in Erith is the Delegation’s largest ministerial commitment, with an average weekend congregation of approximately 800 parishioners. Due to this large congregation and a successful Gift Aid scheme, the parish finances are sufficient for the long-term requirements of this community.

The parish has a high proportion of immigrants from the African continent in its congregation, including a high percentage of converts, and many young people who maintain a vibrant parish life with social outreach, pastoral activities, and choirs.

The Polish community continues to develop under the guidance of Br Krzysztof Przybylski and is now flourishing as more Polish parishioners integrate and assist in other ministries.

The friars also minister to St Fidelis Catholic Primary School (situated next door to the church) and support Catholic education in local secondaries, St Catherine’s Academy, St Columba’s, and St Thomas More. Br James Boner is the Chair of Governors, and Br Prince Mathew is also a member of the school’s Governing Body.

The Angelus Centre, attached to the Erith parish, provides a meeting place essential to the community life of parishioners. However, it serves the wider public benefit via its use for many local and national groups, not necessarily Catholic. Examples include Scouts, Alcoholics Anonymous (English and Polish), the London Borough of Bexley Council, a range of care trusts, the Blood Donor Association, other faith groups, local academies, dance classes, a diabetes clinic, youth outreach, and many others. We are continuing to look for new ways to enable the Angelus Centre to host milestone events, such as baptism celebrations and wedding receptions. It should be noted that the centre is used to enhance public benefit to the local community.

Oxford (St Edmund and St Frideswide), founded 1928

Our presence at the site in Oxford dates to the 1920s. Currently, the parish congregation is around 350 people, including university students during term time. There is also a thriving global migrant community, including people from East Timor. There have been extensive renovations made to Walmsley Hall. The renovation will assist the parish in its outreach to various groups and in generating income for the parish. The parish engages in outreach projects to the marginalised through the local drop-in centre for the poor, helping address the social needs of Oxford and the surrounding areas.

Greyfriars (Oxford)

The Oxford friary serves as our house of initial formation for the British and Irish Capuchins. Currently, we don’t have any student friars who would normally continue their formation by attending Blackfriars College, an academic centre run by the English Dominicans.

The house and fraternity host visiting academics who attend the University of Oxford and use its facilities. We maintain good relationships with the local clergy and religious congregations. The friars are conscious of being part of the local community and take an active role in local programmes to improve the area, which is among the most deprived in Oxford. With the arrival of the friars after the Chapter (September 2024), there has been an increase in supply ministry to parishes and those of the Syro-Malabar communities.

The future of our presence in Greyfriars Hall, Oxford, was discussed in more detail during the Chapter of Mats held in March 2026. The delegation and the council mandated to explore further the plan for Greyfriars Hall and the renovation of 184 Iffley Road, Oxford, to a friary

Durham Friary

The Delegation Council presented a vision for our future presence and will consider how we can maintain and enhance it. This will necessitate changes to our ministerial outreach and to our use of the friary. There is still a strong outreach to the students, affording them access to our unique charism. It is hoped that this will bear fruit in vocations to the Capuchins and benefit society with their commitment to social activities. Br Lucjan and Br John Cavanagh involved with outreach to the poor and marginalised, working alongside the Salvation Army and other groups. We also have a chaplain to a local prison, and the friars assist in the parish life and work with young people in the Diocesan Youth Centre (Emmaus) and school ministry. With the arrival of friars after the Chapter, Br Lixson Cyriac is a psychotherapist and has an outreach to students. It is our hope that with the establishment of the Duns Scotus Chair at Durham University, Durham Friary will become a place for tertiary studies.

Chaplaincies

Different forms of chaplaincy have been an integral part of the Capuchins’ charism since its inception in the sixteenth century. These chaplaincies demonstrate the charity’s commitment to public benefit. Br Paul Coleman is a Prison Chaplain in HMP Holme House, and Br John has clearance to work within the Prison Service. Br Krzysztof holds a CPE certification to work in hospitals.

Schools

St Fidelis Primary School in Erith has strong links to the Parish. It has been awarded Outstanding by Ofsted. The intake of pupils is almost entirely Catholic. The Provincial Delegate is Chair of the governing body, and the head teacher frequently invites friars to provide pastoral and sacramental ministry within the school, while the school, in turn, assists in the celebration of a Sunday Mass once a month. Both the school and parish are also major contributors to the local food bank. The value placed upon the friars’ ministry, as evidenced by how often they are invited to the schools, is the main measure of success.

Hospitals

We assist several hospitals and hospices in various contexts. The brothers at Chester cover for the chaplain in hospitals in and around Chester. The Erith brothers will always assist when called on to attend the sick and dying in hospitals and hospices close to the friary, as do those in the Oxford friary.

Virtual Ministry

Remote access has been commonplace since the global pandemic, and religious worship is no exception. Virtual ministry continues to be a part of spiritual life. Masses, as well as other services like weddings, baptisms, and funerals, are livestreamed. This not only benefits vulnerable people who are unable to attend services in person but also enables family and friends from around the world to serve as witnesses to their loved one’s life milestones.

Caring for members of the Order

As friars profess a lifelong vow to the Order, devoting their lives to serving their community, the Order fulfils a moral and legal obligation to provide care for its members for as long as it is required. The trustees are kept informed of, and regularly review, the current demographic and projections for the Delegation to make medium- to long-term plans.

Currently, the average age of the friars is 59.15. As the average age profile of the Delegation rises, care needs will also increase, as will the costs of providing for them. This will place a substantial financial burden on the charity, both through increased costs and through reduced income as members become unable to carry out work as they previously had.

At present, the costs have been manageable for the Order. Current funds are used to provide care for the friars within the friaries, with outside care only resorted to when community care becomes unsustainable or fails to meet the needs of the friar. There are several infirm friars, needing different levels of care, who are being cared for within their own friaries. There are also a few elderly friars; four friars over 80 years of age.

International

Although no British members of the Capuchin Order are stationed overseas, we support overseas development through the General Curia, for example, with the Provinces of Warsaw and Pavanatma, the Custody of Nigeria, as well as other jurisdictions. We provide financial assistance to brothers coming to study at English language schools to work in missionary territories and/or minister to English-speaking tourists and expats.

We also support our brothers in developing countries with grants for education and capacity building, as well as works for the relief of the poor. This is primarily administered by the Office of Economic Solidarity at our General Curia in Rome. The Provincial Delegate in Great Britain is a member of this Office, and he travels extensively to India, Africa and other countries as directed by the General Minister in Rome. The social impact of this work is extensive, as is the involvement of many friars in deprived communities. The trustees view this as a valuable contribution to the Order’s outreach. We have a very long-running relationship with Ciudad de Los Niños, an orphanage in Peru. We provide advocacy at the United Nations via Franciscans International.

Educational

Capuchin Fellowship

Between 2021 and 2024, Dr Liam Temple was the Capuchin Fellow in the History of Catholicism at the Centre for Catholic Studies (CCS) at Durham University, a role funded by the Delegation. He has recently been promoted to Assistant Professor in the History of Catholicism and continues to work on the history of the Capuchins and oversee the care of our archival material.

Dr Liam Temple successfully agreed a publication date with Bloomsbury for his book ‘Radical Poverty: The Capuchins and Catholicism in Britain, 1850-2022’. The work has eleven chapters and covers the origins of the Capuchins through to the founding of the English Province in 1873 and the more recent history. The work is 100,000 words long and represents the first extensive history of the English Province, which places it in the widest possible context. He is also writing another monograph on the early British Capuchin missionaries in the seventeenth century, which will be published with Oxford University Press.

Liam continues to highlight the importance of the Capuchins to the history of religion. He is currently helping organise an international workshop on the theme of “Early Modern Capuchins in Context: Spirituality, Culture, and Catholic Reform” with Dr James Kelly (Durham), Br Tommy Piolata and Br Ben Johnson. The workshop will take place in 2026.

Third Franciscan Studies Conference

There was another International Franciscan Studies Conference hosted by Durham University’s Centre for Catholic Studies in April 2026. The theme of the Conference was ‘Life and Love Transfigured: Exploring New Horizons in the Franciscan Tradition’.

CHALLENGES AND ACTIONS

Lack of vocations /ageing population & the impact of this on ministries

The Capuchin Franciscans are part of a large and substantial Religious Order numbering approximately 10,000 worldwide. It is a concern to the Delegation that our charism remains present in jurisdictions such as Great Britain, where we have had a presence since the sixteenth century. As part of this dedication to a continued presence, the Delegation of Great Britain has a contract with the Capuchin Province of Warsaw, which assists us with a supply of personnel. This relationship is seen as a positive response to the falling number of vocations to the Capuchin Order within Great Britain, as well as demonstrating an understanding of the changing demographic of the parishes within our care. The primary function of this contract is to enhance fraternal living by supporting our life and ministries. The integration of these Polish friars and their contribution to our ministry is regularly assessed by the trustees.

To further ensure we have sufficient brothers to continue our ministries, an agreement was signed with the Province of Pavanatma (Kerala, India). We also have friars from St Thomas Province (India). At present, there are four brothers from Pavanatma. As the Order here is a registered body capable of issuing Tier 2 and Tier 5 visas in accordance with UK Visas and Immigration guidelines, this is administered strictly within the bounds set out in UK Visas and Immigration guidance. Presently, we are designated by the UKVI as Tier 1 status.

The trustees are conscious of their responsibility to ensure the successful integration of the brothers into our communities. Solidarity among personnel and the ministries of the Delegation, and the outcomes of these collaborations, will form part of the Delegation’s strategic plan. The trustees agree that with the enhanced numbers we will be able to maintain all our present ministries and outreach, and are grateful to the Provinces of Warsaw, St Fidelis, Pavanatma, St Thomas & Custody of Nigeria. The trustees also recognise the support of the Provincial of Ireland and his Council.

Circumscription structure

Capuchin circumscriptions vary hugely in size, structure and complexity, and their ability to keep pace with a changing environment is increasingly challenged. Coupling this with the lack of vocations, the need to protect the Capuchin charism and way of life has been growing in importance and intensity.

Public Benefit

In formulating the charity’s aims and in planning the work of members of the Order, the trustees have considered the general guidance published by the Charity Commission on public benefit (Charity Commission 14 February 2014).

The trustees believe that the friars’ social and pastoral work demonstrates that their contributions in these areas have benefited the public. Also, in the areas of retreat work, spirituality, and therapy, the trustees believe that friars have influenced people’s morals and attitudes and enhanced the spiritual well-being of those with whom they work. The trustees, by giving donations to other organisations, also demonstrate public accountability. Many of the friars who deal with the public are involved in relieving poverty, advancing religion, and advancing education. The trustees also acknowledge that ‘unquantifiable’ outcomes in relation to ‘public benefit’, such as acts of kindness, hospitality, and mutual support, are demonstrated within and beyond the Order’s statutes and charism.

Our Policies

Safeguarding Policy

Along with all other organisations that serve in the community, the trustees recognise the absolute necessity of ensuring the protection and safety of all those the charity serves. This means that all brothers who are in any kind of ministry in Great Britain must obtain clearance from the Disclosure and Barring Service with ‘Enhanced Disclosures’.

The trustees are committed to implementing all policies and procedures of the Catholic Safeguarding Standards Agency (CSSA). Supervision is also extended to anyone who works within our ministries and those living within our fraternities for an extended period. Friars must complete relevant certification courses developed by CSSA Level 3. We update the friars in safeguarding training and insist that they take part in online training provided by the Religious Life Safeguarding Service (RLSS). The trustees also have training relevant to their positions.

The members of the congregation are aware of their individual responsibilities in safeguarding, and updates are provided by our Safeguarding Lead.

The Delegation is registered and has a signed memorandum of understanding with RLSS. We have now moved to a structure in which all religious congregations come under the remit of the RLSS and the CSSA.

A report from the charity’s safeguarding lead is a standing item at trustees’ meetings, and any problems raised are given a high priority. The Trustees are aware that, if a matter is of importance, they have a statutory duty to inform the Charity Commission, using a Serious Incident Report if necessary, and that it is our responsibility to inform statutory authorities and insurance brokers.

Grants, donations and support of missionary work and ministry policy

Grants, donations, and other payments in support of missionary work and ministry are decided by the trustees, in consultation with other members of the Order, as appropriate. Largely, the charity supports the work of those organisations whose work is within the objects of the charity. However, the charity does not regard itself as a primarily grant-making entity, and so applications for grants and donations are not invited.

Investment policy

W1M, formerly known as Waverton Investment Management Limited, manages the charity’s listed investments. On behalf of the charity, it holds a segregated investment portfolio comprising a mix of bonds, UK and overseas equities, common investment funds and alternative investments. There are no legal restrictions on the charity’s power to invest.

The investment strategy is set by the trustees and considers income requirements, the risk profile, and the investment manager’s view of medium- to long-term market prospects. The policy aims to balance income and capital growth while avoiding investments in entities whose activities are inconsistent with the objectives of the Catholic Church.

The performance of the portfolio and the charity’s investment strategy are reviewed by the trustees, who receive quarterly management reports from the managers and regular advice from independent investment experts, Portfolio Review Services (PRS). We have biannual meetings attended by the Provincial Delegate and another trustee.

Governance

In terms of Canon law, the Order within Britain is governed as a Delegation of the Province of Ireland by the Provincial Delegate and two councillors. The Delegation is administered by a governing body, i.e. the Incorporated trustees of the Order of Friars Minor (Capuchin) Province of Great Britain (the trustees in civil law), consisting of the Provincial Delegate and four trustees.

In terms of civil law, the charity is governed by a Scheme of the Charity Commission dated 21st April 2015, as amended by schemes of the Charity Commission dated 23rd September 2016 and 22nd August 2020, and is registered with the Charity Commission, Charity Registration No 231143. As all trustees are members of the Order, they have a detailed knowledge of the work of the charity and of its structure. Upon appointment, new trustees are fully briefed on their responsibilities as charity trustees. The trustees are also directed to the updates provided by our Auditors, Solicitors, APB, and the Charity Commission.

The names of the trustees who served during the year are set out as part of the reference and administrative details at the start of this report.

The Delegation comprises 26 friars in perpetual vows. This number includes three friars assigned from the Warsaw Province, two from St Fidelis Province, 1 from St Thomas Province and 4 from Pavanatma Province, India.

Statement of trustees’ responsibilities

The trustees are responsible for preparing the trustees’ report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires trustees to prepare accounts for each financial year that give a true and fair view of the charity’s state of affairs and income and expenditure for that period. In preparing these accounts, the trustees are required to:

• select suitable accounting policies and then apply them consistently

• observe the methods and principles in the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing the accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)

• make judgements and estimates that are reasonable and prudent

• state whether applicable United Kingdom Accounting Standards have

• been followed, subject to any material departures disclosed and explained in the accounts

• Prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that, at any time, disclose the financial position of the charity with reasonable accuracy and enable them to ensure that the accounts comply with the Charities Act 2011, the relevant Charity (Accounts and Reports) Regulations, and the provisions of the governing document. They are also responsible for safeguarding the charity’s assets and, hence, for taking reasonable steps to prevent and detect fraud and other irregularities.

Structure and management reporting

The trustees are ultimately responsible for the policies, activities and assets of the charity. They endeavour to meet every six weeks to review developments regarding the charity or its activities and make any important decisions. When necessary, the trustees seek advice and support from the charity’s professional advisers, including property consultants, investment managers, solicitors, accountants and audit partners.

The Provincial Delegate and Council assign friars to the various friaries and ministries served by the Order and appoint the officers needed for the administration of the whole Delegation. Each friary has a Guardian and a Vicar, appointed by the Delegate and Council, who have responsibility for the friars in their fraternity. The running of each friary is discussed regularly by the whole community.

Key management personnel

The trustees (including the Provincial Delegate/ Delegation Bursar) consider that they alone comprise the key management of the charity, responsible for directing and controlling, and running and operating the charity on a day-to-day basis.

The trustees (including the Provincial Delegate/ Delegation Bursar) are all members of the Order, and while their living and personal expenses are borne by the charity, they receive no remuneration or additional reimbursement of expenses in connection with their duties to the charity.

Working with other organisations

The charity works closely with several other charities and public bodies which work in the fields of education and religion.

Employees, volunteers and members of the order

The trustees wish to record their recognition of the professionalism and commitment of all their staff, volunteers, and the individual members of the Order. Their dedication and positive approach are very much appreciated.

Risk management

The trustees continue to assess the major risks to which the charity is exposed, those relating to the charity’s specific operational areas, its investments, and its finances. The trustees believe that by monitoring reserve levels, ensuring controls exist over key financial systems, and examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks. These systems are frequently reviewed with a view to possible updates and improvements. The key risks for the charity, as identified by the trustees, are described below, together with the principal ways in which they are mitigated.

The rising age profile of the Delegation

The risk: The average age on 31 December 2025 was 59.15. The trustees are aware of both a moral and a legal obligation to care for the older members. None of the members has resources of their own, as all earnings, pensions, and other income have been donated to the charity under a Gift Aid-compliant Deed of Covenant. As the age profile increases, so too does the need to provide care for the members.

The mitigation: Key elements of the management of this risk are:

(a) ensuring that the charity has the available financial resources to finance this care, both now and in the years ahead, by setting aside assets in a designated fund; and

(b) ensuring that processes are in place to regularly review the ministries and needs of individual members, encouraging those who need it to take on fewer demanding ministries and to identify those who need extra care and help.

The number of friars is reducing within the Delegation

The risk: As older members die and, occasionally, younger members leave, the number of friars in the Delegation is reducing. Vocations to religious orders in Britain remain low, so the trustees need to plan for finding ways to attract more friars.

The mitigation: The latter objective will be pursued by investing more effort and resources in the vocation’s ministry and by liaising with the General Minister in Rome to send friars to Britain from Capuchin circumscriptions richer in personnel. Even with these efforts, there will likely be a reduction in the number of active friars in the medium- to long-term. These considerations will be examined in the context of our financial planning, becoming a delegation of the Irish Province, and with friars arriving from the Province of Warsaw, Poland, and from Provinces in India.

Working with vulnerable groups

The risk: Operationally, the charity works with vulnerable groups, including children, prisoners, and the elderly. The trustees recognise the absolute necessity of ensuring the protection and safety of all those that the charity serves.

The mitigation: All members engaged in any ministry in Great Britain and all those who work or volunteer for the charity and work with children or vulnerable adults must obtain clearance from the Disclosure and Barring Service (DBS or IDBS). The trustees are fully committed to implementing the policies of the CSSA and RLSS. The trustees also recognise their duty of care to members of the Order who are accused of mistreating children or vulnerable adults, and they will seek to ensure that such friars receive support throughout the investigation.

Financial risks

The risk: The charity donates money in support of the worldwide Order and other organisations. Many donations sent overseas are to fund projects administered directly by members of the Order.

The mitigation: Whether the funds are used in Great Britain or overseas, the trustees ensure that they are fully briefed on and familiar with the work of any potential recipient. Funds are transferred via bank transfer; proof of receipt is obtained; and, wherever possible (and always in the case of monies sent overseas), a written report on how the monies have been used and applied is obtained from the recipient.

Property assets

The risk: The charity’s principal asset, apart from buildings, comprises listed investments, the value of which depends on movements in the UK and world stock markets.

The mitigation: The investments are managed by reputable investment managers who adhere to a policy agreed by the trustees. The trustees meet biannually with the investment managers and the manager’s performance, and that of the portfolio is monitored. The investment strategy is assessed regularly to ensure it remains appropriate to the charity’s needs, both now and in the future, and to its Catholic ethos.

OUR FUTURE

Delegation Plan

Our strategy for the future is simple: ensure our survival and the protection of our charism and way of life – for the benefit of ourselves and the communities in which we live and work.

We have recently refreshed our Delegation strategy and have a five-year plan which builds on past activity and covers the following areas, all of which inform our financial strategy.

• Our friaries and parishes (our charism, material requirements, opportunities,

• challenges)

• The role of the friars and of the Guardians & Vicars

• Ongoing formation

• Growth – indigenous and through IFC

• Leadership – succession planning

• Greyfriars Hall

This plan builds on the previous strategic review, updating it to incorporate the new and evolving environment. We continue to build on earlier achievements, such as integrating a far more diverse and international community. Providing brothers from overseas circumscriptions with the opportunity to reflect on their previous experiences of moving between disparate provinces benefits the IFC.

The Trustees envisage a bright future for the Delegation. This will be fulfilled by our openness to brothers from other Capuchin jurisdictions and a wider engagement with the International Order. It is imperative that we are open to adapting our way of life and engaging with wider society in the public arena. This will come to fruition via our involvement with the Centre of Catholic Studies, lay collaboration, and the openness of brothers to change and a diversification of ministries.

INCOME AND EXPENDITURE

----- Start of picture text -----
INCOME
Pensions &
salaries,
£113,337
Other income,
£92,614
Legacies, Donations,
£996 £465,299
Other
pastoral
offerings and
repository
income,
£131,190
Investment
income,
£241,614
----- End of picture text -----

EXPENDITURE

----- Start of picture text -----
Governance,
£124,195
Donations,
£336,795
Parishes and
parochial
activities,
£334,321
----- End of picture text -----

Support of members of the Order and their ministry, £855,748

Income (£000s) 2025 vs 2024

----- Start of picture text -----
£500
£400
£300
£200
£100
£-
Donations Investment Other Legacies Other Pensions &
-£100
income pastoral income salaries
offerings
and
repository
income
2025 2024
----- End of picture text -----

Expenditure (£000s) 2025 vs 2024

----- Start of picture text -----
£900
£800
£700
£600
£500
£400
£300
£200
£100
£-
Governance Donations Parishes and Support of
parochial members of the
activities Order and their
ministry
2025 2024
----- End of picture text -----

FINANCIAL REPORT FOR THE YEAR

A summary of the charity’s results for the year can be found on page 32 of the accounts.

Total income for the year ended 31 December 2025 amounted to £1,045,050 (2024 - £905,185). Of this total, £694,315 (2024 - £616,083) was received by way of donations and legacies. This figure includes £113,337 (2024 - £85,906) being the pensions and salaries of the friars gifted to the charity and a further £131,190 (2024 - £133,466) being pastoral offerings and repository income. It also includes legacies of £996 (2024 – payable of £5,853, resulted from a past legacy tax-related overpayment). Income derived from the charity’s investment properties, listed investment portfolio, social investments and interest on cash balances totalled £241,614 (2024 – £205,242).

Total expenditure for the year ended 31 December 2025 amounted to £1,651,059 (2024 - £1,362,718). Expenditure incurred on maintaining the members of the Order and supporting them in their pastoral work and ministry amounted to £855,748 (2024 - £827,475). The expenditure on Parishes and parochial work was £334,321 (2024 - £251,791) and donations made by the charity during the year totaled £336,795 (2024 - £149,487).

The overall net expenditure for the year before gains on investments was £606,009 (2024 – £457,533). The net gains on the revaluation and disposal of the charity’s investments were £1,053,697 (2024 – £1,185,646), and there were no sales or revaluations, and thus no related gains/losses, relating to investment properties (2024 – net loss of £49,308). The overall net increase in funds for the year or net income of £447,688 (2024 – net income of £678,805).

Investment performance

Waverton Investment Management Limited, in March 2025 rebranded as W1M Limited, has the main responsibility for the management of the charity’s listed investments, with a significantly smaller portfolio held also with Henderson Global (following the 2025 merger with JP Morgan, known thereon as JP Morgan Global Growth and Income) and CCLA. At the year-end date, the investment portfolio had a total market value of £10,551,480 including cash held for investment (2024 - £9,590,988).

The total income derived from the listed investment portfolio totalled £176,212 (2024 - £144,301) representing an income yield of 1.7% (2024 – 1.5%) on the average portfolio value. The total realised and unrealised gains experienced in the year were £1,053,697 (2024 – £1,185,644) reflecting a capital yield of plus 10.0% (2024 – plus 12.4%) on the average portfolio value.

The investment managers continued to invest in accordance with the trustees’ investment policy set out earlier in this report and in compliance with the ethical guidelines given to them.

The charity also owns two investment properties in Oxford, which have an estimated open market value of £2,220,000 (2024 –£2,220,000). The income derived from the letting of these properties amounted to £61,202 during the financial year (2024 - £55,551).

Properties

There have been repairs and some renovation at our investment properties. The trustees take the view that we should maintain our properties to a high standard. Our investment properties in Oxford are managed by an external company.

Reserves policy and financial position

The charity has a number of different categories of fund on its balance sheet which in total amount to £18,184,496 (2024 - £17,736,809) and includes the tangible fixed assets fund at £4,614,776 (2024 – £4,649,359) which represents the net book value of the charity’s tangible fixed assets i.e. land and buildings, motor vehicles and furniture and equipment financed from unrestricted funds. About 25% of the total net assets owned by the charity comprise property - churches and friaries. The Order of the Friars Minor (Capuchin) Province of Great Britain can only carry out the aims set out in the first part of this report if it has the use of such buildings.

Not only are they an essential pre-requisite for their work but certain of this property is also regarded as inalienable. It is not at the complete disposal of the charity; if the trustees were to vacate certain of this property, for example church buildings, they would regard themselves as obliged to offer it to the Bishop or some other religious order that was prepared to carry on the same work with the agreement of regulatory authorities. In these circumstances, therefore, it seems advisable to recognise the property and other essential tangible fixed assets as a separate fund rather than as an available resource.

Designated funds totalled £7,789,699 at 31 December 2025 (2024 - £7,797,578). Full details of these funds are given in note 20 to the attached accounts.

Restricted funds representing monies given to the charity for a specific purpose, or donations subject to donor-imposed conditions, including Parish funds, amount to £1,259,200 (2024 - £1,336,125). Full details of these funds and an analysis of their movements during the year are given in note 18 to the attached accounts.

The free reserves available after deducting the above tangible fixed assets fund, the designated funds, the non-charitable trading funds and the restricted funds at 31 December 2025 were £4,520,821 (2024 - £3,953,749).

The trustees consider it prudent to hold an amount equivalent to six month’s expenditure as a free reserve, to allow for unforeseen expenditure. The free reserves at 31 December 2025 represent approximately 33 months’ expenditure which exceeds the amount required under the trustees’ policy. However, given the current macroeconomic and geopolitical situation and the ensuing uncertainties, the trustees are content to hold excess reserves and consider the charity’s free reserves to be adequate but not excessive in the current climate.

The trustees continually monitor the impact of revenue to the restricted funds assessing the ability for us to continue all of our outreach programmes and the viability of the ministries. We believe that with close monitoring of the financial situation the charity is able to fulfil our commitments. In light of this, the trustees have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees will continue to review the reserves situation on a monthly basis and, if there are any concerns, this will be discussed with our professional advisers.

The effective governance of the charity, which combines a Religious Order (with falling numbers) with various charitable aims, is being increasingly carried out by lay staff members. Trustees are looking at the possibility of changing the charity’s legal structure by converting to a CIO (Charitable Incorporated Organisation), which would facilitate the appointment of lay trustees.

Fundraising statement

The charity aims to achieve best practice in the way in which it communicates with donors and other supporters. It takes care with both the tone of its communications and the accuracy of its data to minimise the pressures on supporters. It applies best practice to protect supporters’ data and never sells data, it never swaps data and ensures that communication preferences can be changed at any time. The charity manages its own fundraising activities and does not employ the services of Professional Fundraisers. The charity undertakes to react to and investigate any complaints regarding its fundraising activities and to learn from them and improve its service. During 2025, the charity received no complaints about its fundraising activities.

Approved by the trustees and signed on their behalf by:

Trustee

Date: 15 July 2026 th

INDEPENDENT AUDITOR’S REPORT

Opinion

We have audited the accounts of O.F.M (Capuchin) GB Charitable Trust (the ‘charity’) for the year ended 31 December 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows, principal accounting policies, and the notes to the accounts. 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’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the accounts:

• give a true and fair view of the state of the charity’s affairs as at 31 December 2025 and of its incoming resources and application of resources for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts 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.

Conclusions relating to going concern

In auditing the accounts, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the accounts 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 significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, including the trustees’ report, other than the accounts and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the accounts themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

• the information given in the trustees’ report is inconsistent in any material

• respect with the accounts; or

• sufficient accounting records have not been kept; or

• the accounts are not in agreement with the accounting records; or

• we have not received all the information and explanations we require for our

• audit.

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities contained within the trustees’ report, the trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the trustees are responsible for assessing the charity’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 charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the accounts

We have been appointed as auditor under section 144 of the Charities Act 2011 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 accounts as a whole are free from material misstatement, whether due to fraud or error, and to 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 (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

How the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

• The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

• We identified the laws and regulations applicable to the charity through discussions with management and from our knowledge and experience of the charity sector;

• We focused on specific laws and regulations which we considered may have a direct material effect on the accounts or the activities of the charity. These included but were not limited to the Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102); and

• We assessed the extent of compliance with the laws and regulations identified above through making enquiries with management and those charged with governance and review of minutes of trustees’ meetings.

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

• Making enquiries of management and those charged with governance as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

• Considering the internal controls in place to mitigate risks of fraud and noncompliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

• Performed analytical procedures to identify any unusual or unexpected

• relationships;

• Reviewed journal entries to identify unusual transactions;

• Substantively tested expenditure on a sample basis to supporting evidence;

• Assessed whether judgements and assumptions made in determining the

• accounting estimates were indicative of potential bias; and

• Investigated the rationale behind significant or unusual transactions, if

• any.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• Agreeing financial statement disclosures to underlying supporting

• documentation;

• Reading the minutes of meetings of trustees; and

• Enquiring of trustees as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements 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 accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/ auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state 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’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Buzzacott Audit LLP Statutory Auditor 130 Wood Street

London

EC2V 6DL

Date: 16 July 2026

Buzzacott Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

STATEMENT OF FINANCIAL ACTIVITIES: YEAR TO 31 DECEMBER 2025

O.F.M (Capuchin) GB Charitable Trust

Statement of Financial Activities

Year to 31 December 2025

----- Start of picture text -----
Restricted
Unrestricted funds Unrestricted funds Restricted funds
funds
2025 2024
Notes £ £ £ £ £ £
Income from:
Donations and legacies 1 257,773 436,542 694,315 220,457 395,626 616,083
Investments 2 241,429 185 241,614 205,119 123 205,242
Charitable activities 3 280 69,056 69,336 293 67,443 67,736
Other trading activities 4 - 16,506 16,506 - 15,938 15,938
Miscellaneous 5 23,279 - 23,279 2,410 (2,222) 188
Total income 522,761 522,289 1,045,050 428,279 476,908 905,187
Expenditure on:
Raising funds 6 69,231 - 69,231 63,610 - 63,610
Charitable activities 7 1,124,362 457,466 1,581,828 908,625 390,483 1,299,108
Total expenditure 1,193,593 457,466 1,651,059 972,235 390,483 1,362,718
Net income (expenditure) before
investment gains (losses) (670,832) 64,823 (606,009) (543,956) 86,425 (457,531)
Net gains (losses) on the revaluation of - - - (49,307) - (49,307)
investment properties
Net gains (losses) on the revaluation and 1,063,578 (9,882) 1,053,696 1,161,209 24,435 1,185,644
disposal of listed investments
Net income (expenditure) 392,746 54,941 447,687 567,946 110,860 678,806
Transfers between funds 18 131,869 (131,869) - (69,655) 69,655 -
Net movement in funds 10 524,610 (76,923) 447,687 498,291 180,515 678,806
Reconciliation of funds
2025Total funds brought forward at 1 January 16,400,686 1,336,123 17,736,809 15,902,395 1,155,608 17,058,003
Total funds carried forward at 31
December 2025 16,925,296 1,259,200 18,184,496 16,400,686 1,336,123 17,736,809
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BALANCE SHEET

O.F.M (Capuchin) GB Charitable Trust

Balance sheet

Wednesday, December 31, 2025

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Charity
2025 2024
Notes £ £
Fixed assets
Tangible assets 13 4,627,381 4,666,165
Investments 14 12,771,480 11,810,988
17,398,861 16,477,153
Current assets
Debtors 15 415,555 443,360
Cash at bank and in hand 721,198 922,798
1,136,753 1,366,158
Current liabilities
Creditors: amounts falling due within 16 - 251,118 - 106,502
one year
Net current assets 885,635 1,259,656
Long term liabilities
Creditors: amounts falling due after 17 - 100,000 -
one year
Total net assets 18,184,496 17,736,809
The funds of the charity:
Restricted funds 18 1,259,200 1,336,123
Unrestricted funds
. General funds 4,520,821 3,953,750
. Tangible fixed assets fund 19 4,614,776 4,649,358
. Designated funds 20 7,789,699 7,797,578
18,184,496 17,736,809
Approved by the Trustees
and signed on their behalf by:
----- End of picture text -----

Trustee: Br. James Boner OFM Cap.

th Date: 15 July 2026

STATEMENT OF CASH FLOWS

Statement of Cash Flows

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2025 2024
Notes £ £
Cash flows from operating activities:
Net cash provided by (used in) operating activities A (500,074) (650,258)
Cash flows from investing activities
Investment income and interest received 241,617 205,243
Purchase of tangible fixed assets (36,344) -
Proceeds from the disposal of investment properties - 639,762
Proceeds from the disposal of investments 3,001,656 1,994,325
Purchase of investments (2,528,003) (1,672,090)
Net cash provided by investing activities 678,926 1,167,240
Change in cash and cash equivalents in the year 178,852 516,982
Cash and cash equivalents at 1 January 2025 B 1,404,604 887,622
Cash and cash equivalents at 31 December 2025 B 1,583,456 1,404,604
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Notes to the statement of cash flows for the year 31 December 2025

A Reconciliation of net income (expenditure) to net cash provided by (used in) operating activities

Net income for the year (as per the statement of financial activities) Adjustments for: Depreciation charge Impairment of tangible fixed assets Net gains on the revaluation and disposal of listed investments Net losses on the sale of investment properties Investment income and interest receivable (Increase)/Decrease in debtors Increase/(Decrease) in current creditors Net cash provided by (used in) operating activites Cash at bank and in hand Cash held by investment managers Total cash and cash equivalents B Analysis of cash and cash equivalents	2025 £ 447,687 75,128 - (1,053,696) - (241,614) 27,805 244,616 (500,074) 2025 £ 721,198 862,258 1,583,456	2024 £ 678,806 68,631 - (1,185,647) 35,240 (205,242) 339 (42,385) (650,258) 2024 £ 922,798 481,806 1,404,604

PRINCIPAL ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

Basis of preparation

These accounts have been prepared for the year to 31 December 2025. The comparative information reflects the financial results for the year ended 31 December 2024.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates and areas of judgement

Preparation of the accounts requires the trustees and management to make significant judgements and estimates.

The items in the accounts where these judgements and estimates have been made include:

• assessing the probability of the receipt of legacy income;

• the judgements made by the trustees and management in estimating the fair

• values attributed to the charity’s investment properties;

• the estimates of the useful economic lives of tangible fixed assets used to

• determine the annual depreciation charge;

• the assessment of any impairment provision in respect to tangible fixed assets;

• the assumptions made in determining the likelihood of recovering the debtor balances; and

• the assumptions adopted by the trustees and management in determining the value of any designations required from the charity’s general unrestricted funds.

Assessment of going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of at least one year from the date of approval of these accounts

The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

The most significant areas of judgement that affect items in the accounts are detailed above. With regard to the next accounting period, the year ending 31 December 2026, the most significant areas that affect the carrying value of the assets held by the charity are the level of investment return and the performance of the investment markets (see the investment policy and the risk management sections of the trustees’ report for more information).

Income recognition

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably, and it is probable that the income will be received.

Income comprises donations and legacies, investment income and interest receivable, income from charitable activities, other trading income and sundry income.

Donations, including salaries and pensions of individual religious received under Gift Aid or deed of covenant, are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable.

In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

In accordance with the Charities SORP FRS 102 volunteer time is not recognised.

Legacies are included in the statement of financial activities when the charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charity.

Entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised, and notification has been made by the executor to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title of the asset having been transferred to the charity.

Income from listed investments is recognised once the dividend has been declared and notification has been received of the dividend due.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Income derived from the letting of the charity’s investment properties and functional freehold properties is recognised as income based on the period to which the letting relates.

Income derived from the charitable activities includes income from parish hall and room hire. Such income is measured at the fair value of the consideration received or receivable, excluding any discounts and rebates.

Income from other trading activities comprises income from lettings. Such income is accounted for on an accruals basis and measured at fair value.

The surplus on the disposal of tangible fixed assets is calculated as the difference between the sale proceeds net of sale costs and the net book value of the asset

immediately prior to disposal. It is accounted for once legal completion of the disposal has taken place.

Other income is measured at fair value and accounted for on an accruals basis.

Services provided by members of the Order

For the purposes of these accounts, no value has been placed on administrative and other services provided by the members of the Order.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation comitting the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses are allocated to the applicable expenditure headings. The majority of expenditure is directly attributable and any apportionment between headings is negligible. The classification between activities is as follows:

• Expenditure on raising funds includes all expenditure associated with raising funds for the charity. This includes investment management fees and costs incurred in connection with the maintenance and administration of the charity’s investment properties.

• Expenditure on charitable activities includes all costs associated with furthering the charitable purposes of the charity through the provision of its charitable activities. Such costs include charitable donations, direct and support costs in respect to the support of members of the Order and enabling their ministry, expenditure in relation to the administering of three Parishes and related parochial activities. Any impairment charge in respect to tangible fixed assets is also included within expenditure on charitable activities.

Charitable donations are made where the trustees consider there is real need following a review of the details of each particular case. Grants and donations are included in the statement of financial activities when approved for payment. Provision is made for grants and donations approved but unpaid at the period end.

The provision of a multi-year grant is recognised at its present value where settlement is due over more than one year from the date of the award, there are no unfulfilled performance conditions under the control of the charity that would permit the charity to avoid making the future payments, settlement is probable and the effect of the discounting is material. The discount rate used is the average rate of investment yield in the year in which the grant is made. This discount rate is regarded by the trustees as providing the most current available estimate of the opportunity cost of money reflecting the time value of money to the charity.

All expenditure is stated inclusive of irrecoverable VAT.

Allocation of support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of personnel development, financial procedures, provision of office services and equipment and a suitable working environment. Such costs are identifiable in respect to each charitable activity and hence they are allocated to the appropriate heading directly. There has been no apportionment between headings in the Statement of Financial Activities.

Governance costs comprise the costs involving the public accountability of the charity (including audit costs) and costs in respect to its compliance with regulation and good practice. Governance costs are included as part of the expenditure on charitable activities generally and not allocated out to specific activities.

Pension costs

Contributions in respect of defined contribution pension schemes and contributions to employees’ personal pension plans are charged to the statement of financial activities in the year in which they are payable to the scheme. The charity has no liability beyond making its contributions and paying across the deductions for the employees’ contributions.

Tangible fixed assets

All assets costing more than £2,500 with an expected life exceeding one year are capitalised.

Freehold land and buildings

Parishes

The Parishes administered by the Delegation of Great Britain are entrusted to the Order’s care by the local Bishop. Although the properties used within these Parishes are owned by the charity, under Canon Law all monies collected by the Parish constitute stable patrimony of the Parish and may not be used for any other purpose.

In the event of the Order ceasing its ministry in a Parish, the trustees would consider either transferring such assets to the relevant diocese or allowing such assets to continue to be used indefinitely and rent free to meet the needs of the Parish for a church and related accommodation. Such assets are therefore excluded from the accounts. Expenditure on such properties is included in the Statement of Financial Activities as expenditure on Parish properties.

The buildings consist of churches, certain presbyteries and Parish Halls and were constructed up to 160 years ago, with additions and improvements since. They are situated at Iffley Road, Oxford; Cuppin Street, Chester, Cheshire; and Carlton Road, Erith, Kent.

Other land and buildings

Both non-specialised and specialised buildings existing on 31 December 2001 and in use are shown on the balance sheet at a valuation determined by the trustees at that date with professional assistance and based on existing use. Under the transitional arrangements set out in FRS 102, this valuation is deemed to be the cost of the relevant assets as of 1 January 2014. Additions to freehold land and buildings since 1 January 2001 are stated at cost.

Non-specialised buildings are those designed as, and used wholly or mainly for, private residential accommodation. Such buildings are not depreciated. Their value and condition are reviewed annually by the trustees, to confirm whether they are satisfied that the residual value is not materially less than their book value. Where the residual value is deemed to be materially less than book value, an impairment provision is made.

Specialised buildings comprise the Order’s large residential friaries and buildings used for its work. Depreciation is provided at 1% per annum on a straight-line basis on completed buildings to write the buildings off over their estimated useful economic life to the Order. The estimated useful life of such buildings is deemed to be 100 years given their age and historic nature. Buildings under construction are not depreciated until such work has been completed fully.

Motor vehicles, furniture and equipment

Such tangible fixed assets are capitalised and depreciated on a 25% reducing balance basis in order to write them off over their estimated useful lives.

Fixed asset investments

• Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

• The charity does not acquire put options, derivatives or other complex financial instruments.

• As noted above, the main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or subsectors.

• Properties held for investment purposes are included in these accounts at open market value with vacant possession. The valuation has been determined by the trustees, with professional assistance.

• Mixed motive social investments are either included on the balance sheet at their fair value, or, where the market price or recent transactions relating to the same asset does not provide a reliable estimate of fair value, the investment is carried at historic cost less impairment.

Realised gains (or losses) on listed investments and investment properties are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value is acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

Debtors

Debtors are recognised at their settlement amount, less any provision for nonrecoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the net movement in funds.

Leased assets

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged on a straight-line basis over the lease term.

Fund structure

General funds represent those monies which are freely available for application towards achieving any charitable purpose that falls within the charity’s charitable objects.

The tangible fixed assets fund comprises the net book value of charity’s tangible fixed assets (excluding those held by individual Parishes), the existence of which is fundamental to the charity being able to perform its charitable work and thereby achieve its charitable objectives. The value represented by such assets should not be regarded as realisable.

Designated funds comprise monies set aside out of unrestricted general funds for specific future purposes or projects.

Restricted funds comprise monies raised for, or their use restricted to, a specific purpose, or contributions subject to donor-imposed conditions.

NOTES TO THE ACCOUNTS

1Income from donations and legacies Donations Appeals Other donations Pensions and salaries of individual religious received under deed of covenant or Gift Aid Pastoral offerings and repository income First Collection Other offerings and repository income Legacies 2Income from investments and interest receivable Income from listed investments Income from investment property Interest receivable on cash managed by investment managers 3Income from charitable activities Parish hall and room hire 4Income from other trading activities Shop income Other lettings income	Unrestricted funds £ - 52,028 113,337 - 91,412 996 257,773 Unrestricted funds £ 176,212 61,202 4,015 241,429 Unrestricted funds £ 280 280 Unrestricted funds £ - - -	Restricted funds £ 7,151 160,894 - 245,226 23,271 - 436,542 Restricted funds £ - - 185 185 Restricted funds £ 69,056 69,056 Restricted funds £ 16,506 - 16,506	Total funds 2025 £ 7,151 212,922 113,337 245,226 114,683 996 694,315 Total funds 2025 £ 176,212 61,202 4,200 241,614 Total funds 2025 £ 69,336 69,336 Total funds 2025 £ 16,506 - 16,506	Unrestricted funds £ - 39,826 85,906 - 100,578 (5,853) 220,457 Unrestricted funds £ 144,301 55,551 5,267 205,119 Unrestricted funds £ 293 293 Unrestricted funds £ - - -	Restricted funds £ 9,625 136,542 - 232,510 16,949 - 395,626 Restricted funds £ - - 123 123 Restricted funds £ 67,443 67,443 Restricted funds £ 15,938 - 15,938	Total funds 2024 £
						9,625 176,368 85,906 - 232,510 117,527 (5,853)
						616,083
						Total funds 2024 £
						144,301 55,551 5,390
						205,242
						Total funds 2024 £
						67,736
						67,736
						Total funds 2024 £
						15,938 -
						15,938

5 Income from other sources

Insurance claim Refunds and miscellaneous income 6Expenditure on raising funds Investment management costs 7 Expenditure on charitable activities Support of members of the Order and their ministry Staff costs Premises costs Food costs Living and personal expenses of friars Formation, education and vocation Depreciation & impairment Office expenses Other costs Parishes and parochial activities Staff costs Premises costs Parish expenses Hall expenses Depreciation Administration Other costs Donations (note 8) Governance costs (note 9) 2025 total funds	Unrestricted funds £ - 23,279 23,279 Unrestricted funds £ 69,231 69,231 Unrestricted funds £ 85,071 181,856 63,967 291,122 116,773 70,926 37,719 8,314 855,748 - - - - - - - - 214,733 53,881 **1,124,362 **	Restricted funds £ - - - Restricted funds £ - - Restricted funds £ - - - - - - - - - 19,520 161,476 63,163 65,294 4,202 18,276 2,390 334,321 122,062 1,083 457,466	Total funds 2025 £ - 23,279 23,279 Total funds 2025 £ 69,231 69,231 Total funds 2025 £ 85,071 181,856 63,967 291,122 116,773 70,926 37,719 8,314 855,748 19,520 161,476 63,163 65,294 4,202 18,276 2,390 334,321 336,795 - 54,964 1,581,828	Unrestricted funds £ - 2,408 2,408 Unrestricted funds £ 63,610 63,610 Unrestricted funds £ 80,674 171,074 73,433 269,402 111,635 63,029 35,203 23,025 827,475 - - - - - - - - 10,795 70,355 908,625	Restricted funds £ 4,960 (7,182) (2,222) Restricted funds £ - - Restricted funds £ - - - - - - - - - 16,091 97,223 50,972 53,746 5,602 16,960 11,197 251,791 138,692 - 390,483	Total funds 2024 £
						4,960 (4,774)
						186
						Total funds 2024 £
						63,610
						63,610
						Total funds 2024 £
						80,674 171,074 73,433 269,402 111,635 63,029 35,203 23,025
						827,475
						16,091 97,223 50,972 53,746 5,602 16,960 11,197
						251,791
						149,487 70,355
						1,299,108

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8 Donations
Unrestricted funds Restricted funds Total funds 2025 Unrestricted funds Restricted funds Total funds 2024
£ £ £ £ £ £
Contributions to the Archdiocese/Diocese of:
. Birmingham - 11,159 11,159 - 7,958 7,958
. Southwark - 45,745 45,745 - 74,439 74,439
.Shrewsbury - 5,109 5,109 - 8,462 8,462
University of Durham - Capuchin Franciscan Scholarship 202,500 - 202,500 - - -
OFM Capuchin Goa (3,000) - (3,000) 1,500 - 1,500
Capuchin Tertiary Sisters, Sri Lanka 2,000 8,500 10,500 1,500 - 1,500
Golgota, Poland 2,000 2,000 2,500 - 2,500
Murzasichle Project, Poland - 10,000 10,000
Capuchin Tertiary Sisters, Philippines 2,000 2,000 500 - 500
Diocese of Lancaster Youth Service - - - 1,000 - 1,000
Ghana Outlook - - - 1,500 - 1,500
Nigerian Franciscan Sisters / Sagmu Sisters - 1,000 1,000 - 1,000 1,000
Catholic Marriage Care 3,500 - 3,500 - - -
Giuseppe Conlon House 1,000 - 1,000 - - -
Across 1,000 - 1,000 - - -
Order of Friars, Custody of Nigeria - 10,000 10,000 - - -
Other donations payable to institutions 1,932 10,040 11,972 1,355 44,068 45,423
212,932 101,553 314,485 9,855 135,927 145,782
Donations to individuals 1,801 20,509 22,310 940 2,765 3,705
214,733 122,062 336,795 10,795 138,692 149,487
9 Governance costs
Unrestricted funds Restricted funds Total funds 2025 Unrestricted funds Restricted funds Total funds 2024
£ £ £ £ £ £
Consultancy fees 25,722 1,083 26,805 22,199 - 22,199
Other professional fees 28,159 - 28,159 48,156 - 48,156
53,881 1,083 54,964 70,355 - 70,355
10 Net income (expenditure)
2025 2024
£ £
This is stated after charging:
Staff costs (note 11) 132,901 96,765
Auditor’s remuneration (including VAT)
. Statutory audit services 27,389 42,364
. Non-audit services 5,836 5,184
Depreciation (note 13) 75,128 68,631
11 Staff costs and remuneration of key management personnel
Staff costs during the year were as follows:
2025 2024
£ £
Wages and salaries 99,664 71,140
Social security costs 18,654 16,554
Pension costs 14,583 9,071
132,901 96,765
The average number of employees during the year, analysed by function, was as follows:
2025 2024
Number Number
Parishes 3 3
Support 5 5
8 8
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No employee earned more than £60,000 per annum (including taxable benefits but excluding employer pension contributions) during the year (2024 - none). The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis comprise the trustees (including the Provincial Delegate).

The trustees (including the Provincial Delegate) are all members of the Order and whilst their living and personal expenses are borne by the charity they receive no remuneration or reimbursement of expenses in connection with their duties to the charity (2024 – £nil).

12 Taxation

O.F.M Capuchin GB Charitable Trust is a registered charity and, therefore, is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

13 Tangible fixed assets

Freehold land and buildings

Cost or valuation At 1 January 2025 Additions Disposals / Impairment At 31 December 2025 Cost Valuation – 2001 Disposal Depreciation At 1 January 2025 Charge for year Disposals At 31 December 2025 Net book values At 31 December 2025 At 31 December 2024	Specialised £ 5,827,686 - - 5,827,686 1,961,353 3,866,333 - 5,827,686 1,217,582 58,277 - 1,275,859 4,551,827 4,610,104	Non specialised £ 25,000 - - 25,000 - 25,000 - 25,000 - - - - 25,000 25,000	Motor vehicles, furniture & equipment £ 759,753 36,344 - 796,097 796,097 - - 796,097 728,692 16,851 - 745,543 50,554 31,061	Total £
				6,612,439 36,344 -
				6,648,783
				2,757,450 3,891,333 -
				6,648,783
				1,946,274 75,128 -
				2,021,402
				4,627,381
				4,666,165

The Parishes administered by the Delegation of Great Britain are entrusted to the Order’s care by the local Bishop. Although the properties used within these Parishes are owned by the charity, under Canon Law all monies collected by the Parish constitute stable patrimony of the Parish and may not be used for any other purpose. In the event of the Order ceasing its ministry in a Parish, the trustees would consider themselves obliged to allow such assets to continue to be used indefinitely and rent free to meet the needs of the Parish for a church and related accommodation. Such assets are therefore excluded from the accounts. Expenditure on such properties is included in the Statement of Financial Activities when incurred.

The buildings consist of churches, presbyteries and Parish halls and were constructed up to 160 years ago, with additions and improvements since. They are situated at Iffley Road, Oxford; Cuppin Street, Chester, Cheshire; and Carlton Road, Erith, Kent.

The book value of other specialised and non-specialised land and buildings held at 31 December 2001 is based on a trustees’ valuation made in 2001 with professional assistance and under the transitional arrangements set out in FRS 102 is deemed to be equal to cost. Subsequent additions and other tangible fixed assets are stated at cost. It is likely that there are material differences between the open market values of the charity’s other land and buildings and their book values. These arise from the specialised nature of some properties and the effects of inflation. The amount of such differences cannot be ascertained without incurring significant costs, which, in the opinion of trustees, is not justified in terms of the benefit to the users of the accounts.

14 Investments

Listed investments and cash held for re-investment (note a) Investment properties (note b) a) Listed investments and cash held for reinvestment Listed investments Market value at 1 January 2025 Additions at cost Disposal proceeds Realised gains Disposals at Market Value Net unrealised (losses)/gains Market value at 31 December 2025 Cash held by investment manager for re-investment Cost of listed investments at 31 December 2025 Bonds Common investment funds UK equities Overseas equities Alternative investments Cash and cash holdings Listed investments held at 31 December 2025 comprised the following:	2025 £ 10,551,480 2,220,000 12,771,480 2025 £ 9,109,182 2,528,003 (3,001,656) 244,590 (2,757,066) 809,103 9,689,222 862,258 10,551,480 6,977,484 2025 £ 1,104,426 492,459 - 6,942,443 602,977 546,917 9,689,222	2024 £
		9,590,988 2,220,000
		11,810,988
		2024 £
		8,245,773 1,672,090
		(1,994,325) 269,502
		(1,724,823)
		916,142
		9,109,182 481,806
		9,590,988
		6,577,439
		2024 £
		1,051,615 495,982 177,300 6,743,519 533,913 106,853
		9,109,182

All listed investments were dealt with on a recognised stock exchange.

b) Investment properties

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2025 2024
£ £
Investment properties
Market value at 1 January 2025 2,220,000 2,895,000
Properties sold in 2024, net disposal proceeds - 625,693
Properties sold in 2024, realised loss on disposal - 49,307
Net unrealised gains - -
Market value at 31 December 2025 2,220,000 2,220,000
----- End of picture text -----

Investment properties comprise land and buildings of Scotus House, 167 Iffley Road, Oxford and Brindisi House, 184 Iffley Road, Oxford. St Philomena’s, Monastery Road, Pantasaph, Holywell was sold in January 2024, and St Philip’s, Monastery Road, Pantasaph, Holywell was sold in December 2024. The properties are included on the balance sheet at an estimate of their open market value with vacant possession. All properties were professionally valued during the year ended 31 December 2021, and the above carrying value reflects the valuation as provided at that date. 15 Debtors

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2025 2024
£ £
Amounts falling due within one year
. Tax recoverable on Gift Aid donations 29,849 24,054
. Prepayments and accrued income 25,706 19,306
. Proceeds from disposal of freehold properties (see below) 40,000 40,000
95,555 83,360
Amounts falling due after one year
. Proceeds from disposal of freehold properties (see below) 320,000 360,000
Total debtors 415,555 443,360
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In 2022, the charity disposed of freehold property in Pantasaph, Wales, for agreed proceeds of £500,000. Under the agreed payment schedule, £100,000 was received prior to 31st December 2022. The balance will be received in annual instalments of £40,000 for 10 years. The first instalment has been received in 2025, as agreed.

16 Creditors: amounts falling due within one year

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2025 2024
£ £
Accruals and other creditors 151,118 99,004
Grants and donations payable 100,000 7,498
251,118 106,502
17 Creditors: amounts falling due in more than one year
2025 2024
£ £
Donations payable 100,000 -
100,000 -
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18 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust to be applied for specific purposes.

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Income
At 1 and Expenditure At 31
January investment and December
2025 gains transfers 2025
At 31 December 2025 £ £ £ £
Parish funds 1,136,984 438,790 (496,030) 1,079,744
Capuchin Missions fund 40,478 2,513 - 42,991
National Shrine of Saint Pio fund 24,629 - - 24,629
Secular Franciscan Order fund 365 - - 365
Charity fund 64,417 17,597 (29,665) 52,349
Pious Union 21,032 - - 21,032
SAG 5,285 2,180 (234) 7,231
Pantasaph - Statues 25,000 415 (21) 25,394
Oxford - Hall refurbishment 15,540 29,293 (44,833) -
Other funds 2,393 21,619 (18,547) 5,465
1,336,123 512,407 (589,330) 1,259,200
Income
At 1 and Expenditure At 31
January investment and December
2024 gains transfers 2024
At 31 December 2024 £ £ £ £
Parish funds 988,149 429,706 (280,871) 1,136,984
Capuchin Missions fund 35,730 5,951 (1,203) 40,478
National Shrine of Saint Pio fund 24,629 - - 24,629
Secular Franciscan Order fund 365 - - 365
Charity fund 57,059 7,778 (420) 64,417
Pious Union 19,528 1,760 (256) 21,032
SAG 4,588 697 - 5,285
Pantasaph - Statues 25,000 - - 25,000
Oxford - Hall refurbishment - 52,927 (37,387) 15,540
Other funds 560 2,524 (691) 2,393
1,155,608 501,343 (320,828) 1,336,123
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The specific purposes for which those funds with significant balances at 31 December 2025 are to be applied are as follows:

Parish funds

Parish funds comprise monies to be applied towards specific Parishes and parochial activities. The transfers from restricted Parish funds to unrestricted funds represent the reimbursement of expenditure charged against the unrestricted funds in respect to parochial activities and duties by members of the order.

Capuchin Missions fund The Capuchin missions fund consists of donations given to support missionary and other work carried out by members of the Order overseas. National Shrine of Saint Pio fund This fund is for the upkeep of the Shrine together with the running of the Pilgrimage Hall. Secular Franciscan Order fund This fund provides resources for specialism in the spirituality of St Francis in conjunction with the normal Christian way of life. Charity fund (prev. Starving fund) This fund comprises money collected specifically for distribution in order to assist the starving people of the world. Pious Union fund All money donated to the Pious Union is used to educate students of the Delegation.

St Anthony’s Guild (SAG) fund

Resolution for St. Anthony’s Guild (June 2000):

“We resolve, after due and careful consideration, taking into account the long-standing custom of the Delegation, that St. Anthony’s Guild Fund is to be henceforth used at the discretion of the Executive Trustees for the purpose of Capuchin student education in the Delegation.”

Pantasaph - Statues This fund comprises of a donation from one individual for the purpose of renovating the Crucifix at the top of the Calvary Way and the fifteen icons on the Rosary Way at Pantasaph. Oxford - Hall refurbishment The fund contains parishioner donations to be used for refurbishment of the Hall adjacent to the Oxford Parish.

19 Tangible fixed assets fund

2025 2024 £ £ At 1 January 2025 4,649,359 4,712,387 Net movement in year (34,583) (63,028) At 31 December 2025 4,614,776 4,649,359

Net movement in year

At 31 December 2025

The tangible fixed assets fund represents the net book value of the charity’s tangible fixed assets other than the assets of the parishes, which are included in restricted funds. A decision was made to separate this fund from the general funds of the charity in recognition of the fact that the tangible fixed assets are essential to the day to day work of the charity and as such their value should not be regarded as funds that might be realisable with ease, in order to meet future contingencies.

20 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

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At 1 January 2025 designationsNew Utilised or released At 31 December 2025
At 31 December 2025 £ £ £
Care of elderly and infirm friars fund 6,000,000 - - 6,000,000
Donations fund 1,797,578 1,152 (9,031) 1,789,699 -
7,797,578 1,152 (9,031) 7,789,699
At 1 January 2024 designationsNew Utilised or released At 31 December 2024
At 31 December 2024 £ £ £
Care of elderly and infirm friars fund 6,000,000 - - 6,000,000
Donations fund 1,794,240 7,211 (3,873) 1,797,578
7,794,240 7,211 (3,873) 7,797,578
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The purposes for which these funds have been set aside are as follows:

Care of elderly and infirm friars fund

This fund comprises monies set aside to finance the care of friars for the remainder of their lives as they serve as members of the Order.

Donations fund

This fund comprises monies set aside to finance donations to other organisations and, in particular, the overseas missions of the Order.

21 Analysis of net assets between funds

Fund balances at 31 December 2025 are represented by: Tangible fixed assets Investments Net current assets Non-current liabilities Total net assets Fund balances at 31 December 2024 are represented by: Tangible fixed assets Investments Net current assets Total net assets	General funds £ - 4,537,767 83,054 (100,000) 4,520,821 General funds £ - 3,559,515 394,234 3,953,749	Tangible fixed asset funds £ 4,614,776 - - - 4,614,776 Tangible fixed asset funds £ 4,649,359 - - 4,649,359	Designated funds £ - 7,789,699 - - 7,789,699 Designated funds £ - 7,797,578 - 7,797,578	Restricted funds £ 12,605 444,014 802,581 - 1,259,200 - Restricted funds £ 16,807 453,896 865,422 1,336,125	Total 2025 £ 4,627,381 12,771,480 885,635 (100,000) 18,184,496 Total 2024 £ 4,666,166 11,810,989 1,259,656 17,736,811

The total unrealised gains as at 31 December 2025 constitutes movements on revaluation and are as follows:

Unrealised gains included above: On listed investments On investment properties Total unrealised gains at 31 December 2025 Reconciliation of movements in unrealised gains Unrealised gains at 1 January 2025 Less: in respect to disposals in the year Add: net gains (losses) arising on revaluation of listed investments Add: net gains arising on revaluation of investment properties Total unrealised gains (losses) at 31 December 2025	2025 £ 2,711,738 1,675,999 4,387,737 4,207,742 (629,108) 3,578,634 809,103 - 4,387,737	2024 £ 2,531,743 1,675,999 4,207,742 3,896,632 (605,032) 3,291,600 916,142 - 4,207,742

22 Ultimate control

The charity was controlled throughout the year by the O.F.M. Capuchin GB Charitable Trust, members of which elect the Provincial Delegate and the four councillors, all of whom are trustees of the charity under civil law. The Delegation does not hold any assets, incur liabilities or enter into any transactions in its own right. Responsibility for the stewardship of the assets of the Delegation is vested in the trustees of the charity, who undertake all transactions entered into in the course of the Delegation’s charitable activities

23 Related party transactions

The total value of donations made by the trustees to the charity during the year was £32,674 (2024 - £16,047), being pensions and salaries donated to the charity under Gift Aid.

There were no other related party transactions requiring disclosure during the financial year (2024 – none).

24 Operating lease commitments

At 31 December the charity had total future minimum lease payments in respect to motor vehicles under non cancellable operating leases as follows:

Amounts payable Within one year Between two and five years (inclusive)	2025 £ 17,220 29,255 46,475	2024 £ 13,359 17,644 31,003