C￿rIty r*tratw)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 dewd￿ttAUd0t01S, 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 c￿lIty 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 SoC￿ty 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 par￿Cular 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 profes510￿1 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 t*lth 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 m￿￿Oft 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 Ard￿l0¢ese of MonrO￿al. 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 d￿rIty 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$14tlon, h￿1th and safety, operatlonal matter5 andfundln8. TheTrustees uilllse the serA¢es of outsld• consults wherever necessary. MJlor rt5ks have been revlewed and systyms or procedures have be•n est•bllshed to manage thosè rlsks, ObJ•cll¥w •nd •¢thiltl•• The oble£tSves and alms of the charfty ¢ontlnue to be to benefit the publlc wlth the 4dnnc•ment of rellalou$ 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 or*ln. 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•tk*n 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 ￿t￿elY •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 Un￿ed Kln8thm the charlty •nlm•tes the Cathollc poPu￿tIon ar￿ others In the s•DAce of th• peoples of th• d￿elopIng world. In addltion. It PTovlde5 SUPPOrt for parlshes by pro￿lIng 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¥dE￿￿tIng 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 Ind￿lt 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 actI￿lIeS benef￿1allY 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 gu1th￿e 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 Pr￿de 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 s￿h 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* prov￿10￿ 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 S￿Iety ￿ regbtered V*lth the Fundra55Sn8 Regulator. There are nofailing5to report forthe pertod. Apart from the three annual mailings in￿tIng 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 nK*nltored 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 artI￿tIeS 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 I￿1 of reserv4 whlth enswes that after meeting current commltments, the Charlty **lll ha¥t Inttyne to fvnd Its t￿OIng work forthe nÉ*t 18 to 24 month5, and wo¥lde a secure foundatlon forthe future. The Trustets 4cknowl*e the need for • retlrement lor the ofth• Brlllsh for whom no erternilty funded pen￿On pr￿l$k)n has been rnade. The oreobn8 fund￿ b met from current Income, however, the t￿￿tee5 Intend to provlde 5ulfftlent reserves to ensure that all members wlll be provld•d for In retlrement. Irre¥•rtfve ol the th¥rltles other I￿OMe. In Iliht of the dwlkth •nd ¢hOlle￿e$ 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 Tr￿1 ￿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 reser￿S 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 sh￿Id therelorn be h•hl prIffl¥S￿ to swt41n th• futwe of lh• Soclety In 8￿t￿Tr. 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 d￿en•te￿ for spedfk purpose5. The Prlests Medl¢•l and Aetlrem•nt Fund has been estab115hed to ¢ty*r 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 ren￿tIOnS rowlr•d to the thwltles propertles. Funds have been •lloc•ted to the Intewtoonal Members Support Fund to tsdlftate any a551sts￿e required by prlests or members located Int*m¥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 be￿￿01 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 r*malns 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 Chp￿e5 In for*n 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 w￿h 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 Tel￿ant ¥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 applIca￿e to charltles rewlres the trustees to wepore financial statements for each fina￿la1 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 yepw1￿thest hnardd st•ta))enty the tnmtees are requlred to.. select S￿•ble accc￿nt￿@ 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•r￿lI 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 tr￿1¢￿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) Re8ulatk*n$ 2CKJ8. and the pro¥lslons of thè ¢onstItU￿n. The tntstees are •150 res￿n51ble 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 dlssem1n￿Oft of flnancl•l st•tements m•y dlfferfrom le8lsl*lon In other lurlsdktlw Approved by the tru5tee5 ofth*¢h•rltyon 31 May 2024 and s*ned 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 1nde￿ndentAUdltOrf5 Report to the Members of Roman Catholk Purposes Admlnlsterod In Oplnknn W• have audlted the flnanclal Statern￿ of Catholk PUry￿eS NAmIn￿tered In connectlon wlth the Soclety of Afrlcan Mlsslons (the 'tharWI for the year l￿ded 31 Decembw 2023, whlth comprlse the Statement of Hnanclal ActIV￿leS. 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 prepara￿Ofi Is Unlted Klnedorn Stsndards, cixnprbslng chart￿ 50RP- FR5 102 The Rnan¢l•l Reportlni standard èppll¢able In the UK and Repthlk of IT￿and, and appk•ble l•w Iunlteo KI￿dDM 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 applIc￿lOn of resour¢es. In¢ludtn8 Sts IwNne •nd eypendlture, for the ye•rthen ended: h•¥e been property prepared In Kcord•nce wlth Un*ed 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 T*lth Internthl Stsndards on Audttlry IUKI IIS4s IUKII and applk•ble l•w. Our reSpOn￿bIlItIeS under those st•nd•rds a￿ further descrw In the iu(Utor respon￿bIlItIeS 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 reSP￿sIbl1￿1eS kn •¢ctyd•n¢e vAth these requlrem•nts. W• bdle¥e that the aud￿ ￿der+cO we hab* obt•lhed Is sufft¢lent and •pprow5*e ttlmlde • forowoplnlon. Coft¢luslons rel•tI￿t•￿￿ 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 r￿at1￿ 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 or*lnal fbn•ncl•l statements were •uthodsed for Issue. Our responslbllttles #nd the re5wThIIAlttles of thetywtees T*lth 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 responSI￿e 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 mlsst*ement 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 mater￿1 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) Ae8uIatk￿s 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 01th￿t••¥ 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 con￿rn 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$onabÈy be expected to Influence the economlc declslons of users taken on the basls of thesè ffnarKlal statements. The extent to whlch our procedures •Te cJpableof detertln8 Irre8ularttle5, Includln8lr8ud Is detalled below.. Irrn8ularltles, Includln8 fraud. are Inst•nces of nonnale behind sl8nllkant or ￿usUaltranSart1 There are inherent IlrnJtatiOns In our au¢lt pmcedures desuthd atwffi. The test nature arKI other inher￿t lirnitattons of an audiL together with the inherent lirnitatrons of any xcounting and intemal control system4 mean th* there is an una¥tydable risk that some matewial mi5sMements In rttpect of Irr4￿alitieS may remain undis¢¢¥ered ¥*en though the audr( is propety planned in acc(ydan￿wIth 15As IUKI. We are less Ilkefy to become aware of instances of rth)Wtl￿ c￿￿￿1v$ **t*ite at: WAw.frc￿lK.uV3￿1rt￿e5poA￿￿IIl¢lÉ* Thbs descrioion fomts partof Ouradi￿5 reporL Thls report is made solely to the tharity trustees, as a bth. in accorthnce with section 144 of the Charities Act 2011 and regulatiorb made under srftw 154 of that ACL aurfrt tAy)rk has been ￿dertaken so that we mi8ht state to the trustees those matters are rewired to state to trustees in an auLfitors' report and for no other Pul￿Se. To the fullest exta)t p￿Mitted ty law. we do not actw or assume resp)n5ibilty to anyone other than the charity and Its trwtee5 as a both¥. for our a￿altw¢￿￿ forthis repx orforthe opinions we havefomled. 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 $￿tIon 1212 ofthe Companies Att 2TrJ6. Page 13 Roman Catholk Purposes Admlnlstered In connectlon wlth the Soclety of African Mlsslons known as Soclety of Afrlun Mlsslons statement of Financial Actlvitles for the Year Ended 31 December 2023 Unrestrlcted fvnds Restrl¢ied funds Tt)tsl 2023 Total 2022 Note In¢om¢ and Ertdowm￿tsfrom. E)onations and legacies Charitable aclknties Othertradin8 actlYS1ies Inv￿rneAt income Other Income 775368 15,f4)0 35.941 170298 75,712 12UEII 897128 15,6 35.941 170,298 75.712 985,251 37.980 I47￿22 Total Income 1,073.519 121A60 1,195,379 1.233,453 Expendlture on: Ralslng hjnds aritable activitie5 38.008 1,144,223 38,008 I,2￿,871 56,084 1,356.608 116,648 Total Expendlture Gains11055e5 on inve5trnent ass 1.182,231 223,153 116,648 1.298.879 223,153 1,412,692 11,294.9611 in¢omelltxpenditurel 114.441 5.212 119,653 I1.474.2￿)I Other re¢oBnlsed pins and losses Other8alnsllosse5 17,3671 17,3671 6,476 Net movement in fund5 107,074 5,212 112,286 11.467.724) Reconclllatlon of fvnds Totsl funds broughtfonward 11.984,4104 92,562 12,076.966 13,544,690 Total funds earrled forward 22 12.091,478 97,774 12,189.252 12,076,966 Allof the charlty's aCtI￿tIeS derl¥elr(xm c(#)tlnuln8 Operato￿ durlng the abovetwo periods. The funds breakdownfor 2022 ts shown in note 22. The notes￿ pages 17 to 33 form an Inte8ral part of these finantia statements. Page 14 Roman Cathollc Purposes Admlnlstered In ￿nneCtIOn wfth the Soclety of Afrlcan Mlsslons known a$ 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 P￿e5 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 R￿aluatIOn of in¥e5tments 76.344 1147A221 13861 1299.7251 1.$94.686 1170,2981 11,1471 1123,9481 199.2051 1203,2231 1244.6271 Worklngwithl adjustments Decreasel{l￿reaSej in stocks Decrea*ll1nc￿as¢j in debtors Inc￿aSe/ldeCreasej In cred5tors DeKrease in provi510n5 17 11.132 73,311 20,125 174.0851 160.0361 1107.2871 111,5731 18 21 Net cash flows from operatin8 aCti*lties 1172,7401 1423,523 Cash flowsfrom lffi¥estinB actlvltl•s Interest recelved 25,609 157.9601 1,800 12,375,136) 2,437,199 144,689 74,085 4.983 16.1151 243 15578,1571 S.624.610 142A39 Acqulsltlorts of tsnglble assets Proceeds from sale of tanglble a55ets Aequtsitlons of Investments Proceed5 from sale of Investment5 Dfvldend income Recelpt5 fromthe repayment of loans to other ent￿e$ 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 AfrI￿Th 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 w￿h 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 P￿sed on to a member of the Soclety of Afrlcan Mlsslons based oversea5 for thelr own overseas prolects. The zrnounts r￿1Ved 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 $18nlficant rfsk of cau51n8 a mattriil adjustment to the carryln8 amounts of assets and Ilabli itles ￿thIn the next financlal year. In¢¢me and endowmtnts Voluntary Income IncludlTr8 donatlons, glfts. leeacles and grants that provlde core fttndlng or are of a general nature is rKoBTrlsed when the charlty has entitlement to the incom4 it is probable that the Ir￿me wlll be received and the amount can be rne8sured wtth 5ufflc5ent rellablllty- Donation5 and legaaes ore fe¢ognlsed on a re¢elvable basls when re¢elpt Is probable and the amount can be reliabty Measured. Paee 17 Roman Catholk Purposes Admlnlstered In u)nnectlon wlth th¢ Soclety of Afrkan Mls$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 de￿￿1t Is Included rffthble •nd the am¢yJnt can be me•5ured rell•bly by the charlty: thls ts norm•lty upon r*otfflcatlon of the Interert pald or p•y•We lry the Bank All expendture Is rwntsed onte ihtre ￿ • Iqll or constr￿t￿¢ obl*atltyi 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 51rnI￿r costs to that cate8w. Where (orts unnot be directly attdbuted to partl¢ular headln85 thy hwe been allocated ￿ a b)515 con51st9￿t the us• of reSou￿e5. whh central staff Qxts allocated on the ba￿9 of tlme spen( Jnd charyes allocated on the portlon of the a5seVs use. Other support costs are allocated b￿ed on the 5wead 01st•ff c05t& I resourcu e¥pended •re Ind￿1%￿ 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 CharIta￿e expend5ture compftses those costs Incurred ty the Ch•rEty Inthe del￿try of Its •¢t144tles and seDAces for Its beneftclarSes. It Indudes t#xh costs th•t ¢4n be •lkncated dlre¢tty to s￿h art1￿11¢$ •nd those costs of an Indlrect n•tur* ne¢ess•ry to support th￿. These Include the Costs attrib￿•ble to the thaiitls COM￿6an¢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 co9￿nI £50.(Kl or •￿ Inltl•ly recorded ai COK less any sulwuent accumulated depreclatbn and Subsequent accumulated knp•lrmert losses. Propertbes ¥re Induded kn the 51*rt at plu5 addItKIr￿ In r•w of milor f•P￿rS 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) 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 f￿d5 1.288.485 I3￿44,690 1.233,453 11.412,6921 ￿ 12,076.966 The S￿￿1r￿ 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 y￿1 the ¢h)rlty madethe followlni related partytransKtlons.' SMA Pollth 0151rfrt In Forn1rt￿n (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