CrIty rtratw)n number. 232541 Roman Catholic Purposes Administered in connection with the Society of African Missions kntrwn as Socl•ty ofAfrk•n Mlsshy Annu•l Report •nd FInwK1 St•t•rn forth• Yw Endod 31 Oec•nbqr 2023
Roman Catholi¢ Purposes Admknlstered In connecllon with the Societyof Afrl¢an Mlssions Contents Refereftce and Admlntstratfve Dethms Trustees, Re 2to7 Statement of Tntstees, ftesFwslbaitle5 dewdttAUd0t01S, Repxt 9t013 ststement d finaft¢ial A¢iNit$ 14 Balance Sheet Cash Flow si*emÈnt 16 Notes to the Finandal Stateme 17to33
Roman Catholk Purposes Admlnlstered In connectlon wlth the Sodety of Afrlcan Mlsslons known as Sodety of Afrlan Mlsslon5 Referen arbd Admlnlstratlve Detalls Refftend TJ Ryan SMA Reverend D A Mccaul Sl Re•vend R Morland SMA Prlnelp•l Offl¢e 378 Upper Brook Street Mancherter M130EP clIty Rrylslr•tlon Plumbv 232541 SC 039285 Audltors The Moffltts P•rtnpJshlp LLP Sulte l.L Flrst Floor Jackson House Slbson Road Sale M33 7RR Hlll DScklns 50 Fountaln Stre•t Manchester M2 2AS B*nk• Royal Bank ofscothnd pk St Anne's Square Manchest M2 7LG CaAlefield Partners 111 PlccadllPy Manthester MI 2HY Coutts & Co tst Floor, I Splnnln8Aelds Square Manthester M3 3AP Pernonnel & Human R•xwrrns Dlrect Law & Personnel Ltd Southerty 7, Waterfold Park Bury BL9 7BR Pa8e I
Roman Cathollc Purposes Adrnlnlstered In connertlon wlth the Sodety of Afrlcan Mlsslons knovm as Sodety of Afrfcan Mlsslon$ Trustees, Report The trustees present the annual report wlth the lknandal ststements and audltors. report of the charlty. for the year ended 31 December 2023. The charlty Is an unlncorporated body 8ovemed by Its Trustees under a deed of Trust dated 7th Septernber 1963. The Superlor of the'sodety of Afrkan Mlsslons. has the power under the trust deed of the charlty to appolnt and remove trustees. The Trustees of the SoCty are thosen accordlTh8 to thelr experience of the Trust Mlnlstry and of Its need to functlon accordlrq to law. The Trustees keep themseb4es Informed of new de¥elopments relatlnl to the Trust and when necessary, meet to be brlefed on parCular Issues by thelr advlsors. The Tru5to¢s, In the past att¢nded semlnars on matters relevant to theTrust and to the Sodety's mlntstry. Recognlslni the need for expertI5e, the Trumees have en8wd professlonal athrfsors In the •reJ5 of finance, Investment, Insurance, law and protectlon of mlnors and vulnerable adults. Eyrt5 In Church law are made avallable throu8h the Sodety's Int•m•tbonal dlmenslon. In major dedsion5 r•gardln8 the assets of the ¢fusL the trustees seek the advke of thelr profes5101 Advlsors. The Chorlty 15 admlnlstered on behaw of the trustees by the Provlndal Superfor of the 8rftlsh Prpvlnce of the Soclety of Afrlcan Mlssbons In accordance tlth Ihe constltutbons of the S¢Klety. The Charfty Is part of a wlder Soclety of Afrlcan Mlsslons whlth Is an Internatlonal 8roup of prlests and brothers wlth Its headquarters at Vla della Nocctta 111 Rome. Ita Generalatel and numbers In excess of 757 members The Internal or8anlsètion of tr Soclety Is that of fifteen autonomous Provbnces. el8ht dlstrkts and four Dele8atlons. Members of the Soclety are on mOft In 51xteen Afrlcan countrles and are present In nlne European countrles. Indla, The phlllpplnes. Unlted Ststes of America and Canada. The Charlty Is the 8rltlsh Provlnce of the InternaUI)nal Soclety and has pastoral responslbllltles for areas of Mlsslon In Nl8erla. (Gombe. Bauchl Stale & Lafia, Nasarawa Statel and LlberSa Iwlthln the Ardl0¢ese of MonrOal. The charfty also ho$ responslbllltles withln the Cathollc Churth kn England and Wales Scotland. SMA Pollsh Dlstrkt In Fomwlknn The SMA Pollsh Dbstrlrt In Fomiation are another untt ofthe Intern*kThl Grwp that the drIty are a part of. Pa8e 2
Roman Cathollc Purposes Adminlsternd In connectlon wlth the Society of Afrkan Mlsslons known as Soclety of Afrkan Mlsslons Trurt¢u' Report MoJorrts&s undmanaownentoJ¢hoseA GenerolRlskPolky Thè Trustees regul)rly revlew all area5 of the Charltle5 actlvltles, Includlng personnel •nd employment legl$14tlon, h1th and safety, operatlonal matter5 andfundln8. TheTrustees uilllse the serA¢es of outsld• consults wherever necessary. MJlor rt5ks have been revlewed and systyms or procedures have be•n est•bllshed to manage thosè rlsks, ObJ•cll¥w •nd •¢thiltl•• The oble£tSves and alms of the charfty ¢ontlnue to be to benefit the publlc wlth the 4dnnc•ment of rellalou$ and ¢h8rltable works In connectlort w6th the Roman Cathollc r•llglon, The Charlty's alm Is to be ?n effect• response to the m15slonary vocatlon of the Churth, thl•fty In Afrfca and among the peoplt of Afrfcan orln. Afrlca for the Is the contlnent where we flnd 4 welcome, 4n openness to rttolvlnl God's Word, ¥nd • motlvatlon that Insplfeg our mlsslonirles to spend and 8l¥e thelr I1¥. The SMA prlests and lay ml$slon4rles are Involved In many prolects In the ftelds of.. - pa5torJl work - educatknn health cjre - cornrnunlty d•v•lopm•nt prolerts - peace Jnd recon¢lll•tkn Inttlatlves Int•r-rell8lous dlalogue Obhrtl¥84 stroteyles ortdath¥rfdes In all monlstrles In Alrlca and the Unlted Kln8dom the ch•rlty provldes for the Sp5rftu•l •nd M•terfJl wellbelnl of those entrusted to Its care. In Afrl¢a the chadty telY •dvarKes the 8rovrth of the Cathollc thurch on th•t coniinent and rtICIp•t¢S In the s¢xl•l devebpment ser45ces the Churth provldes. In the Uned Kln8thm the charlty •nlm•tes the Cathollc poPutIon ar others In the s•DAce of th• peoples of th• delopIng world. In addltion. It PTovlde5 SUPPOrt for parlshes by prolIng clergy for short-temi supply. The Soclety also lends Its partlcular m15s1onary charlsm whlle offerlfi8 splrltuo18uld?nce Bnd treats. These two dlmenslons of the Soclety's mlnlstry arè comblned In f¥dEtIng the transmlsslon of èld Ind support from Church mtmbtrs In the Unlted Kln8dom to those In need of 5UPPtsrt In Afrlu. To Its pem)anent members thesoclety offers lStaftce for thelr moral •nd splrltu•l 8rowth. The trustees ¢ontlnue to revlew the SG*lety's opuatlon and activltles. Pa6e 3
Roman Catholk Puryises Admlnlstered In connection with the So¢lety of Afrkan Mlssions known as Soclety of Afrlcan Mlssions Trustees, Report The Charity artbvitiÈS Indlt providing support and assistance in many different ways for the publlc benefit. The TnL5tws ensure they continue to tarry out the charltles obleuNes for the public benefit and that their actIlIeS benef1allY Impact on sotitty. All of the Charitles actlvltles have a benellcial Impact on society. In 5ettin8 our objertwes and piznrting our attiwties the Trustees have Biven careful conslderatlon to the tharity Commi55ton's general gu1the On publi¢benefit. The tnfjtee5 conflm that they have cornplied with the requirements of seciion 17 of the Chadtie5 Art 2011 to have due re8ard to the public benefrtguidartce publtshed bythe Charlty Commlssk>n for £and and Wales. Achlevementsand perfonnan In additlon to provldSng funds forthe developin8 units within the Soclety durfn8 theyear under review. the charlty has contIn to Prde 5ubstantizl finantial support for proletts In Llberfa West Africa. support to a number of Afri¢an Oio¢ese as well as parlshe5 Staffed by provincial personnel in Nigerla. The Charity 0150 funds the Socletys mlnlw and mlsslon withln Britain. The Charity malntalns approprlate Ilvin8 facilities fttsoclety Membe In the United TrgdOM. The Charty facilitates the post8raduate trainlng of society members and cleray of African Diocese Vltth whlch it ISa550Clated. At any tlme, the Society in Britain mty be asked to fund maitir projetts sh as the buildln8 of churches, xhools, nd cllnlcs. the provision of water and electricity for churthes and communities, and asslstance for refu8ees. The charty continually assists in mlnor proletts such as the provislon of school fees for chlldren from poor familles In AfrJca prov10 of motor vehlcles for Society personrtel in connettlon wlth thelr minlstry, language translatlon projects, and the provision of church equipment. As well as maintalning its own personnel in their ministry. the charity contributèd £361,32012022 - £441,6501 for pr¢jerts at home and overseas from unrestricted fund$ and £116,64812022- £119.2431 from re5trkted funds. Fundralslng PrdCtk•s The fundraising approath of the Charty 15 by a direct malling to prevbJu5 donors who have e¥pre5sed a deslre to bèirt touth with Soclety. Thts Is done by thesociety itself. The SIety regbtered Vlth the Fundra55Sn8 Regulator. There are nofailing5to report forthe pertod. Apart from the three annual mailings intIng a response, there is no foll¢)uP or any other form of contact thatml8ht be percel¥ed a5 applyln8 pressure on donors into maknng a response. Page 4
Roman Cathollc Purposes Admlnlstered In connectlon wlth the Soclety ol Afrfcan Mlsslons known as So¢lety of Afrlran Mtsslons Trurtees, Report Investsnent Perforni•n¢• The trustees hold Investments wtth Castleneld and Coutts wlth a vlew to rttefvln8 Incorne •nd ¢apltal 8rowth.Investment perfomiance Is nKnltored by the trustees who recelve re8vlar reports from the Investment m4na8er5. The Investments •re held for the medlum to lon8w term and are revlewed regvlarfy. The Ilsted In¥tMentS have recovered Inllne wlth general rn?rket condltlons from a small loss In 2022 to a profft In 2023. It Is th• dqc151on of the trust$ to leave funds under the guldance orthe In¥e5tment mana8ers. Flnanclil revl•w The Jtatemeni offfln•nclo1 arti•5 Is set out on p¢ 14. Total Incomln8 resourcw amounted to £1,195.379 12022.. £1,233,453) wth unrestrlrt•d Income of £1,073,519 12022.. £1.140,4921 and re#rlrted Income of £121.86012022- £92,961). Most of the funds In the ch•rlty Jre rakned through don•tlons •nd irndlng fundr•lslni artItIeS that Include •lotteryi Hotysouls Nov•n•, Chrlstmls M•ss Remembrince op•rited by the ¢h•rlty. Total resour¢•s •xp•nd•d amount•d to £1,298,87912022 - £1.412,6921. Vnrwtrlrt•d expendlture arnount•d to £1,182,23112022- £1.293.4491 and rertrl¢ted empendlture £116,64812022- É119,2431. The Investment portfolto Increased durfn8 the pertod by £161.09012022 . de¢re•sed ££1,34L4141.Th• tot41 net result for th• y••r was • Id•ft¢ttl I surplus of £11128612022- £11,467,72411, Tot•1 retslned funds c•rrt•d forward at th end of the year amounied to £12,189,25212022 - £12,076.9661 wlth unrestrlcted lund$ of £IU191.47812022- £IIJ84,4041 and re5trtctad fund5 of £97.77412022- £92.5621. Wlthln unrestrlcted reseNes, the TN3tees seSS thelr fr•e resefyes to be E2.072.20112022 - 4093.2131. Th•se •re Set at a level to wlthst•nd and rnltl6ate any short term flnanclal rlsks. The pr1nclplefund1 Sourc are donatlons •nd legacles re¢eW from Indlvldual$ •nd Investment In¢ome. Durln8 the year Income commenced from the prov151on of pastor41 $ervlces. Iobwtfflentpolkyaftdoblertlves The trust deed •uthorlses the trwtees to make and hold In¥esim•nts usln8 the general fvndg of the ¢h•rfty. The Investment man4ger5 meet re8ul•rly wtth the trustees to IrNest In a portlollo, whlch Is complementary to the alms of the Soclety. Performance ITh the current year has seen the portlollo In¢rease In value. The Trustees monttor the performanc•of the Investment Mana8ers on a re8ular basLs. Page S
Roman Catholk Purpose5 Admlnlsternd In connectlon wlth the Soclety of Afrk•n Mtsslon$ The Trustees oblectlve 55 to malntaln a I1 of reserv4 whlth enswes that after meeting current commltments, the Charlty lll ha¥t Inttyne to fvnd Its tOIng work forthe nÉt 18 to 24 month5, and wo¥lde a secure foundatlon forthe future. The Trustets 4cknowle the need for • retlrement lor the ofth• Brlllsh for whom no erternilty funded penOn prl$k)n has been rnade. The oreobn8 fund b met from current Income, however, the ttee5 Intend to provlde 5ulfftlent reserves to ensure that all members wlll be provld•d for In retlrement. Irre¥•rtfve ol the th¥rltles other IOMe. In Iliht of the dwlkth •nd ¢hOllee$ f•¢ed ty the A10b flnarKl•l sertor the •nnu•lfy ex•mlne thdr The Trustees dlstlryulsh between reseprts ww•t¢d •nnu•l swpluses •nd thos• frorn upltal ylns •nd sala of wopwty. In respect of annual surplu5e5, the Tr1 11 contlnue to appty these to the furtherance of the alms and development of th• Sc¢l•ty ol Afrlcan M155lons In 8rltalD •nd Internjtlonally ret•5nln8 sufflclent reserS for th• 8rltlsh Prvlnce5 neEd& ThLs th• Tfttytws rf4•rd as thdr'short twm poltcv.. The Tntstees ur•• th•t the lunds so f¥ ien•r•ted shId therelorn be h•hl prIffl¥S to swt41n th• futwe of lh• Soclety In 8tTr. Sttondty they shwhj be used to th• fundk¢ of the S(thty Intem•don•lfy In Its c•thl outl•y& Thls the Trwt¢es rwrd as thdr'LoNITonn Str•tqrf. The total unreslrkled r¢ser4es held th• 31st ()Kembw Te £12,091,478 12022: £11.984,4041. Of the unre5trkted funds, omounts hwe beon den•te for spedfk purpose5. The Prlests Medl¢•l and Aetlrem•nt Fund has been estab115hed to ¢tyr future costs In rd•tk>n to prbe5t's medk•J e¥pen5es and retlrement costs. The Renovatlon Fund has been set aslde for any rentIOnS rowlr•d to the thwltles propertles. Funds have been •lloc•ted to the Intewtoonal Members Support Fund to tsdlftate any a551stse required by prlests or members located Intm¥tlonally. All of th•s• th•rfUes I(ts •re teSt and un be used for the ynenl wrpos•s of the ch¥rlty •$ requlred. The total rertrltted funds It the 3ts1i)th1 £97.77412022: £91562). The rertrkted fLmds •r• donltlons recelved for speclflc leTSe¥S Fffjjett> Pknns forluturn perlods The s¢xlety Wans to contlnue Urry7 tyrtthe akns •ndobJe£tl¥es ofthe ch•rfty. In •dthtlon, the charlty alm to Increase Fts wegerKe kn the UK thr parfsh mlnlstri. Prlerts of th• Socl•ty havebeen asked to mlnlstw In ¥ parfsh on be01 a UK rxttese and • second p•rish Is belns southL Tht SW Is •lso looknnl for Jdthtk)n of the S0¢*ty of Afrl¢an Mlsskns to Jokn thelr AppealsTeam. •6
Roman Cathollc Purposes Admlnlstsred In ¢onnectlon wlth the Soclety of Afrlcan Mbslons known as Soclety of Afrlcan Mlsslons Trustees, Report Golns coneern The trustees are satlsfled that the charlty rmalns 4 8oln8 Concern. The ¢harfty has recourse to cash reserves where necessary and the trwtees look to a redu¢tlon sn spendlng where p055lble, Operatlons are able to contlnue wlth members of the rell8lous order who volunteer and asslrt woth our promotlonal work. Fln•ftd•l Onttrnm•h Th• ch4rfVs actfvltles expw It to • number of flnand¥l rlsks IncludlnB ryedlt rfsK cash flow rtsk •nd Ilquldlty rfsk. The use of flnanclal derfvatlves 1$ 8overrted by the charltys polldes approved by the board of tru5tee5, whlch provlde wrltten prlnclples on thè uje of flngnclal derfvatlves to m¥ThBge these rlsk& The charlty doe5 not use derlvatlve flnanclal Instrumenis for spe¢ul•tbve purposes. The Charltls Ktlvltl•J expose It prlm•rlly to the fln•ncl•l risks of Chpe5 In forn cuffency exch•n8e rates 4nd Interest rates. The Charltls prtnclpal ftn4nclal set$ are bank b•l•nc•s •fid cash and Investments. The Cred rlsk on Ilquld fynd5 and derIt4•tI flnanclal Instruments Is Ilmlted because the counterpartles are banks wh hlgh credlt.ratln8s asslgned by Internatlonal credlt-r•tln8 a8encles. The Charlty has no g18nSnc¥nt concentratlon of credlt rlsk, wlth elptssure swead over a larye number of ¢ounterp?rtles. UyldltyAJk In order to m•lnt•ln Ilquldlty to ensure th•t sufflclent funds are avallable for onlolng oper4tknis •nd future developments, the Ch•rlty use5 a ml¥tUTe of long-term •nd short.t¢rm Investm•nt optlons. DIKlosurn ol Ihforni•¢lott to 4udftor Each trustee has taken steps that they ought to have tsken 45 • trurt•• In order to mak• th•ms•1¥•5 awar• of •nv Telant ¥udlt Infomiatlon and to esiabllsh th?t the ¢harlty's audltor 55 aware of that Infomiatlon. The trustees Conflmi thatthere Is no relevant Informatlon that they kn¢)w oland of whlch they knowthe audltor15 unaware. Reappolntment•f audltor The audltors The Moffatts Partnershlp LLP are deemed to be reappolnted under sectlon 487121 of the Comynle5 Act 21)06. The annual report was ¥pproved bythe trustaes of the charfty on 31 May 2024 and skned on Its behalf by: Reverend TJ Trustee Pa8e 7
PAbman Catholk Purposes Admlnlstered In connertlon tAIth the Soclety of Afrkan Missions known as Sodety of Afrion Mkslons Ststem¢nt of Trustees. Respon51blNtles The trustees are resptywwe for mrlnt thetntstees, rewrt and the flnanclal statements In accordancewlth the Unrted Kingdom Accountlng Stsndards (United Kin8(hyn Generalty Accepted Accountln8 Pracilcel and appllcab law and re8ulatlons. The law applIcae to charltles rewlres the trustees to wepore financial statements for each finala1 year whkh glve a true and falr tAew of the st•te of affalrs of the charlty and of ihe Incomln8 reswrces and •ppllcatlon of resources ofthecharliyfor that perknd. kn yepw1thest hnardd st•ta))enty the tnmtees are requlred to.. select S•ble acccnt@ pollcles andthen appty themconslM•nty,' obsèrve th methods and prfndples In the Charltles SOAP. M•ke1¢m¢mts and ertlmates that ar• reasonable and pruden¢. state whether Jppllcable •¢wntln8 rtandards have be follow¢4 sd>lect to any m•torfal dop•rtures dlxk>5ed and e¥plalned In the fin•rlI st•tements.' and prepare the finarKW 5taternwts the 8th cortem basls unless It Is In•pprowl•t• to presume that the tharltywlll cortlnue Sn buslness. The tr1¢5 arè responsiNe for koeplry proptr •¢ctyffitl th•t <sdosè 4vlth r••son•ble Kcurw at #ny tlme the flnaThcl•l posttlon of the thartty 4nd ihem to ensure the IlnarKlal st•tements ccffiply wlth the Charftles Act 2011. the Ch4wlt5e5 (Accwnts and Reports) Re8ulatkn$ 2CKJ8. and the pro¥lslons of thè ¢onstItUn. The tntstees are •150 resn51ble for 5afe8uordln8 the assets of the charlty and hence for tikln8 reasonabl• steps forth• pr•v•ntkn and dete¢tlon offr•ud andother Irrqulark The trustees are responslble for the malntenance and integrfty of ihe and financlal Informitlon Included on the ¢h•rltabl• companvs wetth. Lee551atlon the preparatlon and dlssem1nOft of flnancl•l st•tements m•y dlfferfrom le8lsllon In other lurlsdktlw Approved by the tru5tee5 ofth¢h•rltyon 31 May 2024 and sned on Its beh•Wty: Revwend TJ Trustee Page 8
Roman Catholk Purposes AdmlnSstered In c4)nnertlon wtth the Sockty of Afrk•n Mlsslons known as So¢tyofAfrkan M155k¥n5 1ndendentAUdltOrf5 Report to the Members of Roman Catholk Purposes Admlnlsterod In Oplnknn W• have audlted the flnanclal Statern of Catholk PUryeS NAmIntered In connectlon wlth the Soclety of Afrlcan Mlsslons (the 'tharWI for the year lded 31 Decembw 2023, whlth comprlse the Statement of Hnanclal ActIVleS. Balance Shert, Cash Fbw Ststem•ii. and Note5 to the FlnaKlal Statements. Includlni • sthmm•ry of sl8nlfkant a¢¢ountln8 polbe5. The fina[•1 reWvil framework that h•s been applbed In thelr preparaOfi Is Unlted Klnedorn Stsndards, cixnprbslng chart 50RP- FR5 102 The Rnan¢l•l Reportlni standard èppll¢able In the UK and Repthlk of ITand, and appk•ble l•w Iunlteo KIdDM GaRrally knepted Accountlne Prxtktl. In uuroplnlon the fln•ndal #•ternent&' 8l¥e a true and falr the state d the ch$ thlrs •$ Jt 31 December 2023 •nd of Its Incoml reswrces and applIclOn of resour¢es. In¢ludtn8 Sts IwNne •nd eypendlture, for the ye•rthen ended: h•¥e been property prepared In Kcord•nce wlth Uned Kln8dom Gener•lly Accepted Pr•cil¢e,' h•¥e been prepared In K¢Ofdance wlth the fewlrtynents of th• ch•r{eS Act 2011. • foroplnlon We condutted ¢)w •udSt In accord•nce Tlth Internthl Stsndards on Audttlry IUKI IIS4s IUKII and applk•ble l•w. Our reSpOnbIlItIeS under those st•nd•rds a further descrw In the iu(Utor responbIlItIeS for the èudlt ol the finarKI?I staterner soctton of ¢)yr report. We are Independent of the th•rty In •ccord•nce wlth the •thlc•l requirernents that •r• rdev•nt io our •wllt of the t7nand•l 5taternents In the UK IncluthnB the FRCS Ethl¢al Stèndèrt and we h¥ve fvffilled our other ethk•l reSPsIbl11eS kn •¢ctyd•n¢e vAth these requlrem•nts. W• bdle¥e that the aud der+cO we hab obt•lhed Is sufft¢lent and •pprow5e ttlmlde • forowoplnlon. Coft¢luslons rel•tIt• c•n¢wn In audlilng the fln•n¢lal 5tsternents. w2 h•¥Y conclh thatthetnffjtee5 Use of the corKem basls of accountlnl In the preparatk olth•ffin•nd•l statements & •pprowlate. Based on the work we have p&om)ed. rmx Identified •ny materfal urtertalnties rat1 to events or condltlons th¥L Indmduallyorcollecthejy, mrycast slgnifkant doubt on the charws abllltyto contknue as a iolnl concern for a of at leart twefve months from when the orlnal fbn•ncl•l statements were •uthodsed for Issue. Our responslbllttles #nd the re5wThIIAlttles of thetywtees Tlth re5pert town8 corK•m ar• de5crfbad In the relevant sections of thts repwt.
Roman Catholl¢ Purposes Admln15tered In connertlon wlth the So¢hty of Afrlcan Mlsslons known as Soclety of Alrl¢an Mlsslons Indépendent Audltorfs Report to the Members of Roman Catholk Purposes Admlnlstsred In connectlon with tho Soclety of Afrfcan Mbslon$ Otherlnlorniatlon The trustees are responSIe for the othef Informatlon. other Infwmatlon comprf5e5 the Informatlcffi Included In the annual reporL other than the flnanclal statements and our audltorfs report thereon. Our oplnlon on th• fln•ncl41 st#ternents does not cover the other Infomiatlon and, except to the extent other4¥1se expllcltly stated In our report, we do not expre55 any form of assurjnce conclu51on thereon. In connecllon wlth our audlt of the financlal statements. our responslblllty Is to read the other Infom)atlon and. In doln8 so, conslder whether the other InformBtlon 15 rnaterlally Incon515tent wlth the flnanclal statements or OUT knowled8e obtslned In the audlt or otherwlse appear5 to be materlBlly mlsstated. If we Identlfy such mateTl•l Inconslmencles or apparent mater181 mlsstatements, we are requlred io detem)Ine whether there Is a mat•Tlal mlsstement In the flnanclal statement5 or a materlal mlsstatement of the other Snfornatlon. If, based on the work we have perfomed, we conclude ihat there 15 a mater1 mlsstatement of thls other Infonnatlon, we ¥re requlred to report ih•t fact. We have nothlni to report In thls Teyrd. M•tt•n on whkh we arn r•qulT•d to r•portby•x•lon In the118ht of our knowled8• and understandSn8 of the charlty and Its envlronrnent obtjlned Sn the courso of the udlt, we have not Identlfled materlal mSsstètements In the Trustees, Report. We have nothln8 tts report In resp¢rt of the folbwlng matters where the Ch•rltles IAccount$ and Report) Ae8uIatks 2C#)8 r•qulres usto report to you W. In ouroplnlon: •dequ•te •ccountln8 record5 have not been kep¢ or retums odequ¥te for our •udlt have not been rece5ved from branche5 not SIted by us. or the financl¥l statements are not In 18reement wlth the accountln8 rlcordg •nd r•tums' or cert•ln dlsdosure5 of trustees r•muneratlon speclffied by law are not mde,. or we have not rffelved 811 the Infomiatlon •nd expl•n•tlons we requlre for our aud, R•spDMlbWtl•i 01tht••¥ As explalned more fvlly In the Statement of Trustees. Responslbllltles (set out on page 81, the trustees are responslble for the prepar8tlon of the flnancl•l statements and for belng satlsfied that they gfve a true and falr vlew, and for such Internal control a5 the trustees detemilne Is necessary to enable the preparatlon of flnanclal statements th?t pre free from rn?terlal mlsststemenL whether dueto fraud or ermr. In preparin8 the flnan¢lal st¥tements, the trustees are re5ponslble for assessln8 the chartws ablllty to contlnue as a 8oln8 eontern, distlosln& as appllcablè, matters related to gtslng conrn and uslng the 8olng concern bas15 of accountln8 urtless the trustees èlther Intend to Ilquldate the ¢h)rlty or to cease operatlons, or no rea115tlc alternatlve butto do so. Pa8• 10
Roman Catholk Purposes Admlnbrtered In connectlon wlth the Soclety of Afrlcan Mlsslons known as Sod¢ty of Afrlcan Mlsslons Independent Audltor's Report to the Members of Roman Catholk Purposes Admlnlstered In connectlon wlth the Soclety of Afrkan Mkslons Audltor R•spoMlbllltlesfor th• audlt of th• ftnandal statements Our oblectlves are to obtaln reasonable assurance about whether the flnanclal ernents as a whole are fre• from materlal m1s5t?tement, whether due to fraud or error, and to Issue on oudltorfs report that Includes our oplnlon. Reasonable assurance 15 8 hlgh level of •ssur•rt¢e, but Is not a guorantee that an audlt conducted In acwrdance wlth ISAS IUKI wlll always detect a fflaterlal m155tatement when It ex15ts. Mlsstatements cin •rlse from fraud or error and are consldered materlal If, Indlvldually or In the aure8ate, they could rea$onabÈy be expected to Influence the economlc declslons of users taken on the basls of thesè ffnarKlal statements. The extent to whlch our procedures •Te cJpableof detertln8 Irre8ularttle5, Includln8lr8ud Is detalled below.. Irrn8ularltles, Includln8 fraud. are Inst•nces of non<ompllance wlth law5 ¥nd re8ulatlons. We deslgn procedure5 In Ilne wlth our responsIlItIeS, outllned above, to detert Mater1 ml55t¥ternent5 In re5pert of Irre8ul¥rltles, Includln8fraud. B•sed on our understandlnq ol th• charlty, we Identlffled that the prlnclple rlsks of nonvcompllance wlth knws ind re8ulatlon5 related to breaches of the le841 •nd re8ul8tory framework th•t the charlty operates In. We consldered the extent to whtch non.compll•n¢• mlght have ? materf?l effect on the ffn•nclal statements. The key Iws and re8ul•tlons we consldered In thls context Included Charltles Commlsslon. employment l•w•nd health and safety. In resp)nse to the rlsk of Irre8ularftles and nonomplban¢e wlth Iww5 and re8ulJtlons, we de518ned proc•dur•i vthkh Included, were not Ilrnlted to: • •greelng fln4nclal stlMent d15closures to undertylnq supportlni document¥tlon; readin8 the mlnute5 of meetlngs of those charyed wlth 80vern4n. • •nqulrln8of management as to a¢tual •n(J potentlBI Iltl8atlon and clalms; r•vlewlng correspondence HMRG relevant re8ulators and the charltles le8•18dvlsors. Our approach to Identlfylng •nd aMessln8 the rfsk5 of moterlal mtsstatemert In respect of Irre8ularbtle4 Includlni fr•ud and nonvcompll•nc• wlth laws and r•8ul¥tlons, was as follows.. the en8a8ement partner ensured tt th• •ni•g•m•nt t4m lltelY h•d the Ipproat4 competence, capabllltles and skllls to Identlfy orrecognlse non<ompllance wtth appll¢abl• laws and regulatlons,. • we Identified the laws and re8ulatlons appllcable to the chartty throu8h dlscusslons wh key man48ement ènd the trustee5 and from our knowled8e and experSence of the sector, we essed the extent of conyllance and the udlt team remalned alert to Instances of non4compllance throughoutthe audlt. We assessed the susceptibillty of the comparfs flnanclal statements to materlal mlssiatement. Indudln8 obtJlnln8 on understandlng of how fraud mlzht occur, by.. • maklng enqulrles of management as to where they ¢onsldered there wa5 5Ugceptlb115ty to fraud, th¢5r knowlediè of actual, suspected and alle8ed fraud: coDslderfn8 the Intemal controls In Pla to mttlgate rSsks of frnud and nonvcompllance laws and re8ulatk•ns P48e 11
Roman Catholk Puwses Adminlstered In oMne¢tlon wlth the Sockty of African Mlssk•ns
IndependertAudltor's Reportto the Members of Roman Catholtc Purposes Admlnlstsred in
connectton wtth the of AfrKan M15slons
To address the risk of fraLxI through Manl8ennt l%a5 and o¥errk of controls. :
• perfornied anatycal pldIlt0 lthtify any unusual or relatkxthlps:
. tested joumal entrfes to identify unusual IransaCn$.
potential bia5.'
• In$t1¥ated the ratk>nale behind sl8nllkant or usUaltranSart1
There are inherent IlrnJtatiOns In our au¢lt pmcedures desuthd atwffi. The test nature arKI other inhert
lirnitattons of an audiL together with the inherent lirnitatrons of any xcounting and intemal control system4 mean
th there is an una¥tydable risk that some matewial mi5sMements In rttpect of Irr4alitieS may remain
undis¢¢¥ered ¥en though the audr( is propety planned in acc(ydanwIth 15As IUKI.
We are less Ilkefy to become aware of instances of rth)
Roman Cathollc Purposes Admini5tefed in connection wlth the Soctety of Afrkan Mlsslons known as So¢letyof Afrlan Mlsslons Independent Audltor's Report to the Members of Roman Catholic Purposes Admlnlstered In connertion with the Soclety of African Mission$ offa ner5hip LLP. Ststutory Audltor ite 1.1, First Floor Jacksort House Sibson Road Sale M337RR 31 May 2024 The Moffatts Partnership LLP is eligible for appolntment as audltor of the charfty by rtue of Its eliglblllty for appointment as auditorof a cornpany under $tIon 1212 ofthe Companies Att 2TrJ6. Page 13
Roman Catholk Purposes Admlnlstered In connectlon wlth the Soclety of African Mlsslons known as Soclety of Afrlun Mlsslons statement of Financial Actlvitles for the Year Ended 31 December 2023 Unrestrlcted fvnds Restrl¢ied funds Tt)tsl 2023 Total 2022 Note In¢om¢ and Ertdowmtsfrom. E)onations and legacies Charitable aclknties Othertradin8 actlYS1ies InvrneAt income Other Income 775368 15,f4)0 35.941 170298 75,712 12UEII 897128 15,6 35.941 170,298 75.712 985,251 37.980 I4722 Total Income 1,073.519 121A60 1,195,379 1.233,453 Expendlture on: Ralslng hjnds aritable activitie5 38.008 1,144,223 38,008 I,2,871 56,084 1,356.608 116,648 Total Expendlture Gains11055e5 on inve5trnent ass 1.182,231 223,153 116,648 1.298.879 223,153 1,412,692 11,294.9611 in¢omelltxpenditurel 114.441 5.212 119,653 I1.474.2)I Other re¢oBnlsed pins and losses Other8alnsllosse5 17,3671 17,3671 6,476 Net movement in fund5 107,074 5,212 112,286 11.467.724) Reconclllatlon of fvnds Totsl funds broughtfonward 11.984,4104 92,562 12,076.966 13,544,690 Total funds earrled forward 22 12.091,478 97,774 12,189.252 12,076,966 Allof the charlty's aCtItIeS derl¥elr(xm c(#)tlnuln8 Operato durlng the abovetwo periods. The funds breakdownfor 2022 ts shown in note 22. The notes pages 17 to 33 form an Inte8ral part of these finantia statements. Page 14
Roman Cathollc Purposes Admlnlstered In nneCtIOn wfth the Soclety of Afrlcan Mlsslons known a$ So¢lety of Afrlcan Mlsslons (Reglstratlon number: 232541) Balance Sheet as at 31 (lecember 2023 2023 T¥n8lble J55ets Investments Is 3,013,275 6,827,619 3,035,057 6,666,529 16 9.8410.894 9,701.586 Currnnt aM•ts Stock5 Debtors Investments C•sh 81 b•nk •nd In hand 17 178,383 IIL789 790,560 1.504,788 189,515 185,lQ) 790,561 1.427,242 19 2.585.520 2.592,418 Crndltm: Am0ufitslam du•wlthln on• y••r 21 237,162 217,038 2,348,358 2.375,380 Nrt•ss 12.189.252 12,076,966 Fufids olth• th•rlty. R•11rkt En¢om• fvndi 97,774 92,562 Unr•rtrtrted In¢om• fund5 Unrestrkted Incoma funds 12.091.478 11,984,404 Tot•lfvndi 22 12,189,252 12,076,966 The flnand•l statements on pa8e$ 14 to 33 were #pproved by the trustees. and authorfsed for Issue on 31 M¥y 2024 and sl8ned on thelr behalf . Rèverend TJ Trustee The notes on Pe5 17 to 33 form an integral part of these flnancl¥l statements. Page 15
Roman Cathollc Purposes Admlnlstered In connertlon wlth the Soclety of Afrlcan Mlsslons known as 5o¢l¢tyof African Mlsslons Cash Flow Slatement forthe Year Ended 31 Oecember 2023 2023 2022 Cash flowsfrom operatln8 actlvltles Netcash incomellèxpkndthrel 112,286 11,467,724) AdlwtmeThtsto rash 11(wfTOm nonvcash Item5 Depreclatlon Investment Income Profft on disposal of tangible fixed assets Profft on disposal of investments RaluatIOn of in¥e5tments 76.344 1147A221 13861 1299.7251 1.$94.686 1170,2981 11,1471 1123,9481 199.2051 1203,2231 1244.6271 Worklngwithl adjustments Decreasel{lreaSej in stocks Decreall1ncas¢j in debtors IncaSe/ldeCreasej In cred5tors DeKrease in provi510n5 17 11.132 73,311 20,125 174.0851 160.0361 1107.2871 111,5731 18 21 Net cash flows from operatin8 aCtilties 1172,7401 1423,523 Cash flowsfrom lffi¥estinB actlvltl•s Interest recelved 25,609 157.9601 1,800 12,375,136) 2,437,199 144,689 74,085 4.983 16.1151 243 15578,1571 S.624.610 142A39 Acqulsltlorts of tsnglble assets Proceeds from sale of tanglble a55ets Aequtsitlons of Investments Proceed5 from sale of Investment5 Dfvldend income Recelpt5 fromthe repayment of loans to other ente$ Net cash flows from investlng activitie5 250.286 188.403 Net Increaselldecreasel In cash and cash equlvalents 77,546 1235.1201 Cash and cash equlvalents at ljanuary L427,242 1,662,362 Cash and tash equivalènts at 31 De£ember 1,504,788 1,427,242 All of thecash flows are derlved from conilnuln8 operations during the above two perlods. The tNttes on pages 17 to 33 form an integral part of these financial statemenis. Page 16
Roman Catholic Purposes Administered in ¢onnertion with the Soclety of Afrlon Mlsslons known a$ Soclety of AfrITh Mlsslons Notes to the Financial Statements forthe Year Ended 31 December 2023 l Accounlln8 potEdes Statemert of cornpllance The flnanclal statements have been prepareLI in accordance with the second edltlon of the Charttles Statement of Recommended practi Issued In October 2019. the financlal Reportin8 Standard appllcabje In the Untted Kln8dom and Republk of Ireland IFRS 1021 and thechafftles Act 2011. Basls ol preparntlon Roman Cathollc Purposes Administered in connertion with the Soclety of Afrfcan M15s1ons rneets the definition of a publtc benefft entity under FRS 102. The accounts lfinan¢ial statementsl have been prepared under the hlstodcal cost corwentlon wh Items recognlsed at cost or transactlon value unles5 Otherwlse stated In the relevant notelsl tothese accounts. fjokng¢on¢em 7he trustees conslder th•t there are no m*erlal unrertalntles at¥>ut the charftvs ablllty to contlnuè as a going oncern. Redamfficatlon of fompardtive amounts Thè charity ha5 receNed donatlons from donors spetifKally to be Psed on to a member of the Soclety of Afrlcan Mlsslons based oversea5 for thelr own overseas prolects. The zrnounts r1Ved for these prolects should be rtto8nlsed ag restritted funds. ft has been determlned that somè amounts recewed in the prior period had been treate(l as unrestrltted Income. Ctsmparotlve amounts have been retlassified to refflétt the torrett treztment. Jud8ements The trustee5 have not made any lud8ements In the process of applylng the entity's a¢countlng pork$ that have had a silnificant effert on the am0 recognised In the financ5al statements. Key sourctsol estlmatlon uncertaliity There are no key Sources of estirnation uncertalnty at the reportln8 date. that have a $18nlficant rfsk of cau51n8 a mattriil adjustment to the carryln8 amounts of assets and Ilabli itles thIn the next financlal year. In¢¢me and endowmtnts Voluntary Income IncludlTr8 donatlons, glfts. leeacles and grants that provlde core fttndlng or are of a general nature is rKoBTrlsed when the charlty has entitlement to the incom4 it is probable that the Irme wlll be received and the amount can be rne8sured wtth 5ufflc5ent rellablllty- Donation5 and legaaes ore fe¢ognlsed on a re¢elvable basls when re¢elpt Is probable and the amount can be reliabty Measured. Paee 17
Roman Catholk Purposes Admlnlstered In u)nnectlon wlth th¢ Soclety of Afrkan Mls$k)ns known as Sockty of Afrf¢an M55slons Notes to the Flnandal Statements for the Year Ended 31 December 2023 Income from other tradlni actlvltles rel•tes to loit•ry Income and lsfffonbed on • rttdvable b•sS5. Interest on funds held on de1t Is Included rffthble •nd the am¢yJnt can be me•5ured rell•bly by the charlty: thls ts norm•lty upon rotfflcatlon of the Interert pald or p•y•We lry the Bank All expendture Is rwntsed onte ihtre • Iqll or constrt¢ oblatltyi to that expwbdlture. It Ls probable settlement Is rewlred and the amtyjnt c•n be measured reli•bly. AU sts are allocated to the Jpplicable expenditwe he•d5n8 th•t •tsre8•te 51rnIr costs to that cate8w. Where (orts unnot be directly attdbuted to partl¢ular headln85 thy hwe been allocated a b)515 con51st9t the us• of reSoue5. whh central staff Qxts allocated on the ba9 of tlme spen( Jnd charyes allocated on the portlon of the a5seVs use. Other support costs are allocated bed on the 5wead 01st•ff c05t& I resourcu e¥pended •re Ind1% of Irrtt44w•TrA•VAT. These •re 1$ In¢uffed In •trrartI ¥dUnt Incry the mwm•nt of In¥•5trnents •nd those Incwred In tradlng irtlvltles that rntse CharItae expend5ture compftses those costs Incurred ty the Ch•rEty Inthe deltry of Its •¢t144tles and seDAces for Its beneftclarSes. It Indudes t#xh costs th•t ¢4n be •lkncated dlre¢tty to sh art111¢$ •nd those costs of an Indlrect n•tur ne¢ess•ry to support th. These Include the Costs attrib•ble to the thaiitls COM6an¢t wlth ¢onstltu¢lon41 and sututNy raqulrementy In¢ludlng 4udl¢ Str¥te8lc m•wement ond tnstee's meetlngs and rdmbuTsed expense> Tanlble fixed assets Indfvldual Ilxed assets co9nI £50.(Kl or • Inltl•ly recorded ai COK less any sulwuent accumulated depreclatbn and Subsequent accumulated knp•lrmert losses. Propertbes ¥re Induded kn the 51rt at plu5 addItKIr In r•w of milor f•PrS Ind rewath)n5, depre¢latlon 15 wo¥5thd on the book c05t kss •n am¢yJnt •ttribJted to the cost of the land. The market value ofth¢ bxcyrtlts Iswwdwed to be exe5$ ofth• Ix*)kvalue. Pw18
Roman Cathollc Purposes Admlnlstsred In connertlon wllh the Soclety of Afrlcan Mlsslons known as Soclety of Afrlcan Mlsslons Nots$ to the Flnanclal Ststements for the Year Ended 31 December 2023 Indmdual works of art, trea5ure5 Ind plote are not ¢apltbllsed as they are re8arded as herlta8e assets whlch are held In a manner conslstent wlth the o<fv•n¢emwt of the Roman &tholl¢ fatth, hive lon8 lfves and are worth preservlng Indthnlt*. Works of arL tfèasures and plate ère not capkallsed In these accounts. They are consIded to be herltsge •ssets for the purposes of the Charltles SORP IFRS 1021. The assets arè Intetrnl to the Charlws overall oblectlve of a(fvancln8 the Cathollc rellglon. Thty all have very lon8 Ilves and are worth preservln8 Indefinltely. The Trustees onsldtr that It wovld be preludlctsl to the safe Custody of these •ssets to dlsclose det•lls of thelr value and usa8e In thew accounts. D•predatlon and •fflortls•tlon Depre¢latlon Is provlded on t8n8lble flxed ass5 30 ¥5 to wrfte off the cost or valuatlon. less any•stlmated re$ldu41 value. over ihelr experted useful economlc Ilf• M follows.. D•pwlatlon m•thod and r•ts 2% red1& balance basls 25% red1r& b•l•nce ba51s 20% red11 b•l•nce bas1$ 20% reduclrq balance basli Land and &Jlldlngg Motor Vehlcles Flxtufes •nd Flttln85 Offlce Equlpment Flx•d aM•tln¥e$iments Flxed asset Investment5, Other thin prooramme r•l•ted Investments. are Included at m•rket vilue at the balance Sheet date. Re4115ed g¥lns and J05ses on In¥estm•nts ère calculated as the dlfference between s•los proce•ds and the5r market value #t the start ol the year, or thelr subsequent C•)St. and •r• ch•r8ed or credlted to the Statement of Flnandal Actlvltles In the perlod of dlspos•l. UnrealSsed ylns and losses represent the mvement In market values durlna the year and •re credlted or tharyed to the Statement of Flnancl81 Actlvltles based on the market value •t thè year end. Curr•nl 4sset Inv•stm•nts Current asset Investments Include ¢•sh held on deposlt wlth a maturlty of areater than twelve n%)h5. Sts¢k Stock 1$ Included 4t C05t value. Althwh the stock Is not 50kl. St Is used to facllltate donBtEons whkh are In ex¢ess of the 5t. Therefore, the cost Is con51dered the coffert method of valuat50n. Tr8de debtors Trade debtor5 and other debtors are reco8nlsed at the settlement amount due after any trnde dlscount offered. Prepayments arevalued * the amount prepald net of any trade d15counts due. P•8e 19
Roman Cathollc Purposes Administered In connectlon wlth the Socloty of Afrlcan Mlsslons known as Soclety of Afrlcan Mls$lons Notes lo the Flnan¢lal Statements for the Year Ended 310ecember 2023 C•sh and ¢a$h e4ulv4lents Cash at bank and cash In hand Includes cash and short term Ilould Investments wlth 8 Short maturtty of twelve month5 or kn. Trad• uedlltys Credltors and provIsn$ are reco8nlsed where the ch4rfty h•s 8 present obllg•tlon resultln8 from a past ¢v¢nt that wlll probably result In the transfer of funds to a thlrd party and ihe amount due to settle the obll8atlon ¢an be rneBsured or estlmated rellably. Credltors and provlslons •r• normally re¢o8nlsed it thelr settlement ¥mount •fter allowln8 forany trade dlscounts due. For•5 •xth8ni• Transartlons In for¢l8n Currendes •r• rttorded •t th• r•te of exchange at the date of the tran5Ktlon. Monetary Isseis •nd Il•bllltles denomlnated In forelgn ¢urren¢Ses #t the balance sheet date are rerted at the rate5 of excha¥ prevallln8 at that date. Fund accountlr Unrestilcted Income fvnds are 8enernl funds thot 4re av41knbl• for us• at the truste•'s dlscr•tlon In furtherinc• of the oblertlves of the ChBrftv, Deslgnwed fvnds are Unfe1CtQd funds srt Jslde for spe¢ffl¢ purposes •t the dlscretlon of the trustees. Arfrlcted Iorne funds are those donated for use In a partlcular are• or for spedfk purposes. the use of whlch Is r•strlctad to that are• or purpos•. Pemlons and other poll r•tlrern•nt obll8rtlonJ The charlty operates 8 dIned contrlbutlon penslon scheme whlch Is a penslon plan under whlch flxed contrlbutlons are pald Into a penslon fund and the th•rlty has no legal or cOnstrude obllgailon io pay further contrlbutlons even 11 the fund does hold sufflclent ass•ts to Ill employees the beneffts rel•tln8 to emptoyee servlce In the current •nd prtor perlods. Contrlbutlons to dellned contrlbutlon plans are reco8nlsed In the St¥ternent of Flnancl•l Actlvltles when they Jre due. If contrlbuilon payments ex¢eed the ¢ontrlbutlon due for 5erylce. the exce5515 reco8n15ed as a prepayment. Ftnanclal1Tr5trum•nts Flnanclal assets and finaftdal Ilabllltles are retognlsed when the charlty becomes • p•rty to the contractu•l provlslons of the Instrument. Financlal Ilabllltle5 and equlty Instruments are classlhed ¥¢Cordl to the substance of the contf8Ctual arran8ement5 entered Into. An equlty Instrument Is any corttract th4t evldences a resSdual interest In the assets of th¢ charlty after deduclln8 oll of Its Ilabllltlas. Paee 20
Roman Cathollc Purposes Admlnlrtered In nneCtIOn wlth the Soclety of Afrlcan Mlsslons known as Soclety of Afrlcan Mbslons Notes to the Flnancknl Ststements for the Year Ended 31 December 2023 Recognldon andmeasuffement All flnanclal assets and Ilabllltles arè Inltlalty mèasured at transactlon prlce Ilncludlni transactkjn Costs), e¥cept for those ffnanclal assets classlned as at fzlr value through profit or 1055, whlch gre Inltl?Ily measured ?t f?Ir value Iwhlch Is normally the transactlon prke excludln8 transactlon c05ts1. unless the arrangement constStutes flnanclng transactlon. If an orr•n8emerbt ClYlStltutes a financlng trans8Ctlon, the flnanclal asset or flnanclal Ilablllty Is measured at the present value of the future payments dlgcounted at a market rate of Interest for a slmllar debt InstNmant. Flnanclal as$S and Ilabllltles are onty oftset In the st#tement of flnanclal posttSon when, jnd only when there e$t5 ¥ legalty efOeab1e rl8ht to set off the retO8nlsed amount5 #nd the charlty Intend5 elther to settle on • net b?515, orto reallse the a55et and settle the Ilablllty multaneOUSlY. Fln•ncl•l assets are d•retogn5sed when Jnd only when •) the contractual rf8hts to the ch flows Irom the Iln•ncl•l asset explre or are settled, bl the charlty transfers to another party substantlalty all of the rlsks •nd rew•rds of ownershlp of the flnan¢lal as5eL or cl the chadty. desplte h•vln8 ret•lned sornq Ixrt not #ll, sTrinlficant rf5ks and rewards of ownershlp, has transferred control of the asset to another party. Flnanclal Il•bNltl•s ar• derttognlsed only when the obllg8tlon ipedlled In the contract Is dIScryed. c•ncolled or explres. 2 lfi¢•mefrom don?Ilons •nd l•wl•J funds G•n•r•l R•strfrt•d Totsl 2023 Totsl Don•tlons Ind le8•¢1¢s; Don8tlongfrom Indl4Tldu•ls Legacle5 Glft ald reclalmed 651,348 81.330 43,290 112,541 763,889 81,330 52,609 772,735 169,806 42,710 9,319 775,968 121,860 897,828 985,251 3 IrKome fr¢Kn th•rlt•bl• actl¥ltles Unre¥¢rktqd nds Genernl Totsl rotsl 2022 Income from the provlslon of pastoral care 15,600 15,600 62.4CKI Prye 21
Roman Catholk Purposes Admlnlstered in c¢Jnnertlon wlth the Soclety of Afrkan Mlsslons known as So¢Sety of Afrltan Missions N•)tss to the Flnanclal Ststements forthe Year Ended 31 DK¢mber 2023 4 lTru¥ne from othertradkn8 acllvllles Unrestrfrted lunds General Tolal funds Totsl 2022 Lotteries and competitions income 35341 35.941 37.980 351 35.941 37.980 5 Irh¥e5tment Tncorne UnreArtrted fvnds Totsl 2023 Total DeslBn•ted Generlbl Income from dfvldends,. Dividends receivable from other Ibted investments Interèst receivable and similar irtomè,. Interest receivat4e on bank deposits 37.844 106.845 144.689 141839 25.609 25.609 4,983 37.844 132.454 170,298 147.822 6 Other lTrcoffle Unr•strlrtad nds Totsl General Other Income Gains on Sale of tsngible flxed assets forcharfvs L)wn use 74,565 1.147 74.565 1.147 75.712 75.n2 Other Income relates to the release of a previous bad debt pro¥lsion. Page 22
Roman Catholk Purposes Admlnlstered In tonnectlon wlth the SIety of Afrfcan Mbslons known as alAfrKan Mlssions Notes to the Flnandal Sl•tements forthe Year End 31 December 2023 7 Exp•idlttty• on r•tshwfvnds UM•stld Tol•l Y4th1 2022 Lotterles •nd compet[ 21.964 21.964 b) In¥•51 m•n•ym•rf Total Total 2022 Arnounts pay•bleto In*rtment rnana8ers 24,530 33,199 34,120
Roman Cathollc Purposes Administered in fonnection wlth the Soclety of Afrlcan Mlsslons known as Soclety of Afrlcan Mhslons N•)te$ to the Flnanclal Ststements for the Year Ended 31 December 2023 8 EIp•ndltR on dwitsble •¢dvl¢i Unrestrfct•d R•strld•d fvnds Tol•l 2022 General 2023 Costg of Mass•s & MS Cards Costs ofcommurtlty Accommodètlon ProYlncl•l Costs Ch¥rlt4ble Dlstrlbutlons statlon•ry & Posta8es C4$15 of Mlsslon News Staff Costs Depre¢l4tlon of tan8lbl• assets Bank Char8es L0$5 on dlspos•l of ass•t$ Go¥ernance costs 39,957 165,541 182.401 362,392 132,085 IS,060 140.189 79,089 5,038 39,957 166.618 182.401 477,963 132,085 15.060 140,189 79,089 5.038 39,369 163,264 226,248 560,893 114,297 16,043 138,075 76,344 5,839 1.077 115.571 22,471 15.850 1,144,223 116,648 1.260,871 1,356,608 £1.144.22312022 - £1,237,365) of the alve •xpendltur• wai attrlbutable to unrestrkted funds •nd £116,648 12022- £119,2431 to re5tr1cted funds. In¢luded In the •xpendltw• 4n•lysed •bovq there are 8tyern•nce ¢osts of £22.47112022 - £15,850) whl¢h relate dlr•tttyto charlt•bY• •rtlvltles, See note 9forlurther detalls. P4• 24
Roman Catholk Purposes Admlnlstered In connertlon wlth the So¢lety of Afrkan Mlsslons Notes to the Flnancl•l Slatements for the Year Ended 31 December 2023 fvnds T•t Tot•1 Audlt fe Audltof the fln•nd•l •twner Otherfees pald to I11t01$ Lrfal f 14.430 2,570 5,671 14.430 370 5,671 14,400 1.450 22.471 22,471 15,850 10 N•t lTrwrnlnOUflo¥ r•Murr Netoutioln8 reg<wrces ftythe year11je. 20 Audlt fee5 Loss on dlspos•l of flxed •ssets held forthe charws o¥m oewttlat1L of flud •ssets 14.430 14,4 79.089 76,344 11 Tnxl•es remuft•r•thn •fid expeng Durlngthè yt4rthe tharity madethe f0llow1wtr••¢ttQns wfth tntstees: Re¥ertnd TJ Ryan SMA El361{2022'. £12,6631 of experw We relmbJr5ed to RevwendTJ Ay•n Sk14 durtn8 the year. R•v8rtnd ft Mtyl•nd SMA £350912022.. £411} olempeftstt wern rtlnwsed to Rwend A Mtyl•ndSNiA durlft8 the r. The trwslees of the ch¥rlty Bre all ordwlned eSts of the Roman Catholk Church. It 15 thebr ¥ocatlon to fulfll thè Ims of the charlty and 15 sh thw reslde Fn prem15e5 I? Ot. The charlty rneets thè IMn8 èxptnses and covers all tosts inturrtd by tht tntstees and othtr membtrs on the furtherdnc• of its aims. None of the trwtees recel¥e a salwy. NotrtLstee5 have received any ¢)tlw benefits fromthe tharltyduri theye•r.
Roman Catholk Purposes Admlnlrtered In tonnectlon wlth the Soclety of Afrlcan M1$5ions known as Soclety of Afrlcan Mlsslons Notes to the FnCIal Statements for the Year Ended 31 December 2023 12 Staff costs The a88regate paJToll costs were asfollows.. staff costsdurln8the yearwere: Wages and salaries Pension costs 136,886 3,303 134.934 3,141 140.189 138,075 The monthly avera8e numbox of persons lindudlng sthior management I leadership team) employed by the charlty durfng the year expressed as full time equivalents was asfollows: 2023 No 2022 Charitable Artlvities li li 512022- 51 of the above employees parti¢ipated In the Defined contr1bltsn Pension Schemes. Contrlbutlons to the employee penston xhemes forthe year totalled £3.30312022- £3,141). No empfoyee recefved emoluments of morethan £60,000 dudng the year 13 AudltoTh' renwneratlon Audlt of theflTralal statemerts 14,430 14,400 Otherfees to audltor5 Allother non-audltsertes 2,370 1,450 Page 26
Roman Catholk Purposes Admlnlstered In tfjnnertlon wlth the Soclety of Afrlcan Mlsslons known as Soclety of Afrlcan Mlsslons Notes to the Flnanclal Statements for the Year Ended 31 December 2023 14 Taxailon The charity 15 a re8lStwed charlty and Is therefore exempt Iromtsxatton. 15 Tan8lble Ilxed assets Land and bulklln8s Furnlture #nd omputer equlpmeTht Motor vehldes equlpment Totsl At l January 2023 Additions 3.725.062 97,266 5.403 12L650 5L641 18.7001 83.043 916 4,027,021 57,960 18.71x11 Dlsposats At 31 Dwiber 2023 3.725.(2 102,669 164.591 83.959 4,076.281 Depre¢l)tlon At l January 2023 Charge forthe year Eliminated on dlsposats 738.983 59.561 86,128 1610 92.203 14.730 IB.0471 74,650 2.188 99L964 79,089 18,0471 At 31 December 2023 7984 88,738 98.886 76.838 I,063.16 Net book¥al At 31 OKember 2023 2,926.518 13,931 65.705 7.121 3,013,275 At 31 Detember 2022 2,986,079 11,138 29,447 8.393 3.035.057 Pa8È 27
Roman Cathollc Purposes Administered In ¢onnectlon wlth the Soclety of Afrlcan M155lons known 0$ SIety of AfrIn Mlsslons Notes to the Flnanclal Ststements for the Year Ended 31 De¢eml)er 2023 16 Ax•d assèt In¥•stments 2023 Other tnvestments s2?,619 6.666,529 ¢)th•r In¥wlm•nts Invethnts C*h d•poslts Totsl Cort orValu•thn At I lanu4ry 2023 Rev•lu•tlon Addltlons 6,612,751 97,255 1,091679 11.137,0971 125,898 53.778 6.666,529 97,255 1,283,457 2J75,136 11,300,102) 12,437,199) 125,898 015posals Reallsed ylns At 31 December 2023 6 790 486 6,827,619 N•t bOoklU• At 31 Dttember 2023 6,790,486 37,133 6,827,619 At 31 Dttember 2022 6,612 751 53,778 6,666,529 17 Stock 2023 Stocks 189,SlS The c05t of stock reco8nlsed •9 an expense In the ar amounted to É39,95712022- £39.3681. P4e 28
Roman Catholk Purpose$ Admlnlstered In a)nnertlon vAth the Soclety of Afrlcan Mlsslons known as Soclety of Afrlcan Mlsslons Notes to the Flnanclal Ststements for the Year Ended 31 Do¢ember 2023 2022 Trade debtors Prep•yments A¢crued Income Other debtors 18 37,246 72,042 2,483 30,953 152,095 IlJ,789 185.100 19 Curr•ntMKt InlImI$ 2022 sh deposlts 790,560 790,561 20 Cwh •nd cmh e4uh•l•nts C•sh on hiThd Cash at bank 7,814 1,496,974 7,103 1,420,139 1,504,788 1,427,242 21 Crndltorn: •rnouTrtsf•1lSu• wthlTr on• y•ar 2023 Trade credltors 39,377 1,384 169,253 8,463 358 Other taxatlon and socl•l securlty Other Cred10r$ 172,916 150 35,151 Pen51on scheme credltor Accruals 27,148 217,038 P•8e 29
Roman Catholk Purposes Adnthilstsred In ¢onnethn wtth the S¢Khty of Afrkan Mlsslons Notss to the Flnandal Statemerts for the Year Ended 31 De¢ember 2023 22 Funds 31 lJ•nuwy Intomlw ResotsY¢•s recoinked D•cember ¢xpndod plns1llos) 2023 Unr•strfrt•dfvnds Genernl Unrestrkted IrKome Fund IOJ)24,859 IA135.675 11.173.562) 157.767 10.tM4,739 Medl¢•l and Aatlrement FUNI Aenovatlon Fund Internatlonjl MembEts Fw L659.545 250,0(XI 37 {8.6691 58.019 L746,739 250.OLTr) 1,959,545 37W 58.019 2,046,739 Tot•1 unreMYkt•d fvn R¢s¢rtd¢d fvn Internatlon•l Pmjects liJ84.404 U173.519 11.182.231) 215,786 12,09L478 91562 121.860 116.648 97.774 Toll fvndi 12.076,966 L195.379 1298.879 215.786 12.189.252 P¥• >)
Roman Catholk Purposes Admlnlstered In connertlon wlth the Soclety of Afrl¢an Mlsslons known as 5oclety of Afrl¢an Mbslons Notss to the Flnanclal Statements for the Year Ended 31 December 2023 at Balanc• at ljanuary 2022 oihev 31 Ifftrornln8 Resourres re¢o8Trked December resources expended Kaln511105*s) 2022 Unrestrf¢ted fvnd$ General Unrestrkted Income Fund 11.154.201 1,106,(84 11283,6411 1951,7951 10,024,859 Medical and Retlrement Fund Renovatton Fund Intematlonal Members Fund L9ll.645 250.000 S0.OJO 34.398 19ml 1336.6901 1,659,545 250,000 50,000 2,27L645 34.398 191081 1336.6901 1,959.545 Total unrestrlrted lunds 13.425,846 1,140.492 11.293,4491 11.288,4851 11.984.404 Intematlonal Proje¢is 11&844 92,961 1119,2431 92J62 Total fd5 1.288.485 I344,690 1.233,453 11.412,6921 12,076.966 The S1r purp05e5 for whkh thefunds are to be applled areas follows.. The Prfests Medlcal and Retlrement Fund has been estsbllshed to coverfubjre costs In relath)n to prfe5ts' med¢cal expenses and retlrement costs. The Renovatk)n Fund has been set aslde for any renovatlons required to the charhles propertles. Funds have been allocated to the Internatlonal Members Support Fund to facllltate any a5s1stsnce required by prlests OT members locateLI Internatlonally. All of these tharitie5 fund5 are unre5trirted and can be used for the general Fwrposes of thecharltyas quIred. The Internatlonal Projects hjnd Is made up of donations recefved for specifK proietts and these funds are restrlcted tothat purpose. Pa8e 31
Roman Catholk Purposes Admlntsternd In a)nneth wlth the Soc*ty of Afrkan Mlsslons known as Sockty of Afrkan Mlsslons Notes to the Flnandal Staternents forthe Year Ended 31 DKember 2023 Totsl fundsat 31 Decemb•r T•relble fixod assets Flxed •ss¢t Investments 3A113.275 5,080.880 2,187,746 1237,162 3A)13275 6A27.619 2,585,520 237,1621 1.746.739 3.(XI rrent assets 97.774 Current Il•bllhles Totsl net •ssets 2.046,739 97.774 12.189,252 Tot•1 lundx at 31 D•ctrnb•r 2022 T4n¥ble flxed a Fl¥ed asset Inbwtmthts Currertt assets 3.035.Q57 5,Cl)6,984 2,199,766 1217,038 3,035.057 6.666,529 2,S92,418 1217,0381 1.659.545 92.652 Current IlJbllides Total ets 10,024.769 1359545 92.652 12 076,966
Roman Cathollc Purposes Admlnlstsred In connectlon wlth the Soclety of Afrlcan Mlsslons known as Soclety of Afrlcan Mlsslons Notes to the Flnan¢lal Ststements for the Year Ended 31 D¢mber 2023 24 ofnetfundi At l J4nw 2023 Hnancln8 ash flowj Exthan#e fflovefflent At31 i>e¢ember 2023 C•5h It b•nk ¥nd In hond 1,427,242 90.913 17.3671 1.510.788 Current Set Investments 790,561 790,561 Net Debt 2.217,803 90.913 17,3671 2.301,349 At l Janv 2022 Nn•nclnA r•th Ilo Othernon h ¢h•ws At31 De¢•mb•r 1021 C4sh at bank Ind In hand 1,662.362 790,032 1241,5961 529 6.476 1.427,242 790,561 Current asset Inve5tmffits Net Debt 2,452,394 1241,0671 6.476 2.217,803 25 R•l•t•d yrtytr•TrMclloni Durlnl the y1 the ¢h)rlty madethe followlni related partytransKtlons.' SMA Pollth 0151rfrt In Forn1rtn (The SMA Pollsh Dlstrfct In Formatlon15 anotherunlt of the Internatlon¥l 8roup that the ¢harlty Is a part of.) In 2017, th• ch•rlty 8a¥e a loan of C2SOMOO to osslst them wlth the construrtlon of ¥ mlsslonary anlmatlon and promotlon centre In Warsaw. The flr5t repayment W85 due In 2020, The first loan repayments were made In 2023 In an amount of C85,QOO dlrertly to Rome, the104n outstandlnB it 31st December 2023. At the balance sheet date the amount due from SMA Pollsh Dlstdrt Sn Formatlon was £151,87312022 . £225,958). The prov151on for doubtlul debtsfrom the related partle5 at the balance Sheet d*e was £151,87312022- £225,958). Pa8e 33