**Charity Registration Number** England and Wales No. 233302 Scotland No. SC037981 **The Society of Missionaries of Africa (also known as The White Fathers)** ## **Report and Financial Statements** ## **31 December 2024** Williams Chartered Accountants Jade House 67 Park Royal Road London NW10 7JJ Page 1 of 20 ## **The Society of Missionaries of Africa (also known as The White Fathers) Report and Financial Statements Contents** ||**Page**| |---|---| |Legal and administrative information|3| |Trustees' report|4| |Independent Auditors' report|9| |Statement of financial activities|12| |Balance sheet|13| |Statement of cash flows|14| |Principal Accounting Policies|15| |Notes to the financial statements|18| Page 2 of 20 **The Society of Missionaries of Africa (also known as The White Fathers) Legal and Administrative Information** |**Trustees**||Rev H Seenan| |---|---|---| |||Rev D Starkey| |||Rev C Wallbank| |**Sector Treasurer**||Rev D Starkey| |**Principle address**||64 Little Ealing Lane| |||London W5 4XF| |**Charity number**|England|233302| ||Scotland|SC037981| |**Auditors**||Williams Chartered Accountants| |||Jade House| |||67 Park Royal Road| |||London| |||NW10 7JJ| |**Investment Managers**||Raymond James Investment Services| |||1 King William Street| |||London EC4N 7AF| |**Bankers**||National Westminster Bank plc| |||Corporate Service Team| |||PO Box 666| |||Waterloo Street| |||Bolton BL1 8FH| |**Solicitors**||Hunters| |||9 New Square| |||Lincoln's Inn| |||London WC2A 3QN| Page 3 of 20 **The Society of Missionaries of Africa (also known as The White Fathers) Trustees' report** The Trustees present their Report and Financial Statements for the year ended 31st December 2024 ## **INTRODUCTION** The Society of Missionaries of Africa (The White Fathers) is an international society of Roman Catholic priests, Brothers and lay associates. It was founded by Cardinal Charles Lavigerie in Algeria in 1868 and now has its international headquarters in Rome. The British Sector of the Society, with which these accounts deal, is governed by the Society’s own constitutions and by-laws, and by a principal trust deed dated 2 November 1949. The Trust is a charity registered with the Charity Commission for England and Wales (No. 233302) and with the Office of the Scottish Charity Regulator (No. SC037981). The Charity Commissioners for England and Wales granted a Certificate of Incorporation to the Trustees of the Charity on 03 April 1996. They are called “The Trustees of the Society of Missionaries of Africa (also known as The White Fathers).” ## **PRINCIPAL ACTIVITIES AND AIMS** The general objectives of the Society are religious and charitable, and specifically the promotion of the religious and human development of the people of Africa. In Britain the Society is concerned with the recruiting of missionaries; promotion of the missionary vocation; missionary promotion among the general public through the magazine, letters, and mission appeals in parishes; promotion of Justice, Peace & the Care of Creation issues as well as Encounter & Dialogue with other religions; the care in retirement and/or sickness of our returned missionaries. The latter has become one of the main activities and aims of the Society in Britain, given that the 31 members have an average age of 79 years. As missionaries we follow the exhortation of our founder, Cardinal Lavigerie: “Be apostles, nothing but apostles”. ## **ORGANISATION** For ecclesiastical purposes, the worldwide Society, headquartered in Rome, is divided into Provinces and sub-divided into Sectors. The British Sector is one of nine Sectors in the European Province, with its headquarters in Brussels. For legal purposes, the Society in Great Britain is independent of any outside body of the Society. The Sector chairperson and his Council manage the Society here. He is, de jure and de facto, a Trustee and the chair of the Trustees, and appoints the other Trustees: the treasurer and usually one or two other members. Decisions are normally reached by consensus. ## **TRUSTEES** ## **Fr Hugh Seenan** Fr Hugh Seenan was ordained a priest in 1989. He has worked in Mozambique for 22 years, India for 6 years and Malawi for 3. He came back to Britain in August 2020 to take over as Sector Superior. This is the first time that he has been resident in Britain since 1989. ## **Fr B Denis Starkey** Fr. Denis Starkey was ordained priest in 1977. His African missionary activity was in Malawi and Nigeria. For 11 years he was Superior and Church Appeals Organiser in our house in Sutton Coldfield. In 2005 he was appointed Registrar/Secretary/Treasurer of the Missionary Institute London and was responsible for the arrangement of the eventual closure of the Institute in 2007. He took up his appointment as Treasurer of the Missionaries of Africa in the USA in 2008 and completed his term of office in 2013. He was appointed to his present role of Treasurer in 2013. ## **Fr Christopher Wallbank** After joining the Society of Missionaries of Africa in 1973 Fr Wallbank spent a number of years as a missionary in Malawi. Since returning to work in the then-Province he has been Vocations Director and Superior of our residence for the elderly in Glasgow. Currently he is Secretary to the Sector Superior and his Council as well as Superior of our Little Ealing Lane community in Ealing, West London. As a Trustee, he keeps the Minutes of Trustees Meetings. He was appointed as Secretary to the then Province in July, 2006 Page 4 of 20 ## **The Society of Missionaries of Africa (also known as The White Fathers) Trustees' report** ## **PERSONNEL** At the end of 2024, there were 29 Society members appointed to the Sector, 24 British members and 5 from areas outside Britain, including 1 trainee. Of the 29 members, there were 12 active, 17 semi-retired/retired. There were an additional 5 active British Society members appointed outside Great Britain: 4 in various African countries and 1 in Jerusalem. There were a further 2 members of our Society from outside Britain resident but not appointed to the Sector. 1 was working in a parish and 1 was retired in his own home. ## **SECTOR ADMINISTRATION TEAM** Sector Council: The Council The Sector Superior has his office at our British Headquarters in Little Ealing Lane, London. The Sector Superior is entrusted with the duty of providing for the spiritual and temporal wellbeing of the members. His chief ministry is the spiritual and apostolic inspiration of communities and individuals, in accordance with the charism of the Society. The current Superior was appointed for a 2nd 3-year mandate on 1st July 2023. The Sector Treasurer, under the responsibility of the Sector Superior and his Council, is in charge of the material interests of the Sector. He administers the Society’s fixed and current assets. In carrying out his duties, the Treasurer is assisted by the Financial Council, which meets twice yearly. He makes use of legal, accounting and other professional advice on an ad hoc basis. His term of office was renewed on 1st July 2022 for a period of 3 years. The Sector Secretary, appointed by the Sector Council, is at the service of the Sector, under the direction of the Sector Superior. His term of office is usually for three years, though it may be extended. His term of office was renewed on 1st July 2019 for a period of 3 years. The Sector Council is composed of six members, the three trustees above and one member each from our communities in Corfton Road, London, St. Vincent’s Parish, Liverpool and Rutherglen, Scotland. ## **PUBLIC BENEFIT** The trustees have consulted the guidance made available by the Charity Commission for England and Wales on the Public Benefit requirement of the Charities Act 2006. The trustees are confident that they have complied with their duty under section 4 of the Charities Act 2006 in that they have had due regard to public benefit guidance published by the Commission. In furtherance of the trust’s charitable purposes for the public benefit, the trustees give details of their activities in the following paragraphs. ## **REVIEW OF ACTIVITIES** Here follows a description of the major activities that take place in the communities in England and Scotland, activities that assist the Society in its general and specific objectives. (1) 64 Little Ealing Lane (W5 4XF), London, is the Sector’s administration centre, a home for our elderly/retired members who no longer can do much or any active ministry, but can still look after themselves reasonably well, a place for studentpriests, and visitors. Some of the members help in nearby parishes and also in making church appeals. At the end of 2024 there were 12 members in residence, including 1 student-priest from Kenya studying at SOAS. (2) Corfton Road (W5 2HP), London, is a community of 3 members. One is Administrator of the Promotion Office and Church Appeals plus the local house bursar. One provides help with his computer expertise. The Magazine Editor is based here and looks after our website. Page 5 of 20 ## **The Society of Missionaries of Africa (also known as The White Fathers) Trustees' report** Appeals in parishes are organised by the Catholic Missionary Union of England and Wales on a rotation basis among the participating missionary societies and congregations. In 2024, the Society was assigned to the Dioceses of Lancaster and Cardiff. This program enables us to contact parishes and arrange dates and details for Church Appeals. For the appeals’ organiser, this involves correspondence with and telephone calls to parish priests, finding Society members to do the appeals and sending them the necessary details and instructions. These appeals promote awareness among the parishioners of the Church’s role and activities in mission in Africa and awareness of their solidarity with and co-responsibility towards the Church and peoples of Africa. It is to be noted that our magazine, _Missionaries of Africa (White Fathers)_ , is an excellent means of fostering mission awareness. Besides news of the Sector and work done by our members in Africa, each issue usually has articles on one or other aspect of our work, for example, relations with Muslims, problems in large towns, Africa’s financial problems, our spiritual and development work in a particular African country. The magazine is free and it offers people the chance to support the Society and its works through donations, gifts, and legacies. (3) In Liverpool, (L1 5JN) a community of 5 members was established in September 2018 at the invitation of the Archbishop to assist the Archdiocese with the pastoral care of a small inner city parish. Also, in line with our policies of inter-religious dialogue and availability to the African World, the community is an outreach to diverse ethnic groups in the city. One of the members is the Sector representative of Justice, Peace & the Integrity of Creation (JPIC) matters. A trainee from Burundi was also a member of the community and participated in its life and ministry. (4) In Rutherglen, Glasgow (G73 2NG), the community consists of 6 members. One of the members works on promotion and mission animation, including mission appeals, pastoral work, and correspondence with our benefactors. The appeals’ organiser arranges for all appeals made in Scotland, contacting parish priests and finding members to do the Church appeals. From the house, support is given to a group called The Parents & Friends Association. Its members organise and host different fund-raising activities that help to support White Fathers working in Africa. Outside our community houses, there are 5 members: – 1 is retired in Cambridge – 1 is resident in a nursing home in Glasgow – 3 are resident in nursing homes in London The Society of Missionaries of Africa is an active member of the Conference of Religious and Societies of Apostolic Life (CoR) (www.corew.org), which facilitates and coordinates the efforts of its members to be at the service of the Church and society. It is proactive in its support for the Catholic Safeguarding Standards Agency (CSSA) (https://catholicsafeguarding.org.uk). Its primary role is one of co-ordination, advice and support in respect of the wider job of safeguarding children, young people and vulnerable adults. One of our members is Safeguarding Representative to the various safeguarding groups in England, Wales and Scotland to deal with any cases of abuse that may arise. The Society of Missionaries of Africa are aligned to the Religious Life Safeguarding Service (RLSS) (https://religioussafeguarding.org) for purposes of safeguarding arrangements put in place by CSSA. Within the framework of the Catholic Bishops’ Conference of England and Wales (www.catholic-ew.org.uk), the Society is actively involved in matters concerning Africa through its membership in the Catholic Missionary Union (CMU) (www.cmu.org.uk). It should be noted that while the charity’s members are, for the most part, supported by the charity, there would be no charity without them. Their work contributes to it in many ways: they organise its numerous activities, and in a word, give their lives for it and its aims. Page 6 of 20 **The Society of Missionaries of Africa (also known as The White Fathers) Trustees' report** ## **THE CHARITY’S STATEMENT OF FINANCIAL ACTIVITIES** **Incoming Resources:** General Fund Appeals and donations increased from £258,699 in 2023 to £261,216 in 2024. General Fund Legacies showed increase from £378,254 in 2023 to £456,147 while Restricted Fund Legacies showed decrease from £478,517 to £205,820 in 2024. This fluctuation in the level of legacy income illustrates that income cannot be assumed for future years. Although the market value of investments showed a gain of £99,988, investment income decreased by £28,959 (£154,351 in 2023 to £125,392 in 2024) following changes in the makeup of the portfolio. The overall income (excluding Investment Gain) decreased by £325,783 (£1,733,743 in 2023 to £1,407,960 in 2024), this decrease was caused by the decrease in Legacies & Investment Income during the year. **Expenditure:** The total expenditure increased by £99,651 from £1,249,621 in year 2023 to £1,349,272 in year 2024. This increase is majorly contributed by the increase in the expenditure towards Missions & Donations during the year. Compared with 2023, our Capital and Reserves increased by about £158,676. The trustees consider the position to be satisfactory. With the General Fund standing at £4 million the trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern. ## **TRUSTEES' RESPONSIBILITIES WITH REGARD TO THE FINANCIAL STATEMENTS** Under charity law, the trustees are responsible for preparing the Trustees’ Annual Report and the financial statements for each financial year which show a true and fair view of the state of affairs of the charity and of the excess of income over expenditure for that period. In preparing these financial statements, generally accepted accounting practice entails that the trustees: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - state whether the recommendations of the Statement of Recommended Practice have been followed, subject to any material departures disclosed and explained in the financial statements; - state whether the statements comply with the trust deed, subject to any material departures disclosed and explained in the financial statements; - prepare financial statements on the going concern basis unless it is inappropriate to presume the charity will continue its activities. The trustees are required to act in accordance with the trust deed of the charity, within the framework of trust law. They are responsible for keeping proper accounting records, sufficient to disclose at any time, with reasonable accuracy, the financial position of the charity at that time, and to enable the trustees to ensure that, where any statements of accounts are prepared by them under section 132(1) of the Charities Act 2011, those statements of accounts comply with the requirements of regulations under that provision. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities. ## **TRUSTEES' INVESTMENT AND OTHER POWERS** According to the Trust Deed, the Trustees have the power to invest any money forming part of the Trust Fund and to apply income and capital for the charitable purposes of the Trust in England and elsewhere. They may purchase property, sell land and property, and pay for the upkeep of land and property held upon Trust. They may also borrow money for any of the foregoing purposes and accept donations. ## **RESERVES POLICY** Reasonable reserves are maintained to produce required income for the purposes and needs of the Trust. While the funds reserved might be considered small relative to the number of members and the work for which the Charity is responsible, it is the Society on a worldwide level rather than any individual section of the Society that ultimately looks after any unexpected needs or problems that may arise. Page 7 of 20 ## **The Society of Missionaries of Africa (also known as The White Fathers) Trustees' report** ## **INVESTMENT POLICY** The Investment policy of the Society is to receive interest and dividends from investments, made on an ethical basis, so that the aims of the Society can be achieved. The objective of the portfolio under an investment manager at Raymond James Investment Services, London, is to maximise total return from income and capital at medium risk. ## **PROTECTION OF CHILDREN AND VULNERABLE ADULTS** Along with all other organisations who serve in the community, the trustees recognise the absolute necessity of ensuring the protection and safety of all those the charity serves. This means that all our members who are in any kind of ministry in Great Britain must obtain clearance from the Criminal Records Bureau. The trustees are committed to implementing all policies and procedures of the office of the Catholic Safeguarding Standards Agency (CSSA) and those of our Society. One of our members provides safeguarding services for the Sector as and when required. ## **DATA PROTECTION** In line with the GDPR Act of 2018, procedures are implemented to ensure that the Society data protection policies follow the latest legal requirements. The current full Privacy Policy is to be found on the website at www.missionariesofafrica.org.uk ## **RISK ASSESSMENT** The major risks to which the Charity is exposed, as identified by the trustees, have been reviewed and systems have been established to mitigate those risks as far as possible. The major risks include: fraud by members of the Society or employees; operational and fundraising losses due to catastrophic situations and, in consultation with PIB Insurance brokers, periodic risk assessments for Health, Safety, Welfare and fire in each of the properties of the Charity. ## **FUTURE DEVELOPMENTS** There are no other definite planned changes in the activities of the Society for the coming year. ## **THE CHARITY'S ASSETS** Acquisitions and disposals of fixed assets during the year are recorded in the notes to the financial statements. Signed on behalf of the Trustees: Rev D Starkey Trustee Approved by the Trustees on 31st October 2025 Page 8 of 20 ## **The Society of Missionaries of Africa (also known as The White Fathers) Independent Auditors' Report** ## **Independent auditors' report to the Trustees of the The Society of Missionaries of Africa (also known as The White Fathers)** We have audited the financial statements of The Society of Missionaries of Africa (also known as The White Fathers)(the 'charity') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been properly prepared in accordance with the requirements of the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing ((UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. - Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. - Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Report and Financial Statements, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters where the Charities Act 2011 and the Charities and Trustee Investment (Scotland) Act 2005 requires us to report to you if, in our opinion:- - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. Page 9 of 20 **The Society of Missionaries of Africa (also known as The White Fathers) Independent Auditors' Report** ## **Responsibilities of trustees** As explained more fully in the Statement of Trustees' Responsibilities, the Trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. ## **Auditor’s responsibilities for the audit of the financial statements** We have been appointed as auditors under Section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ## How the audit was considered capable of detecting irregularities including fraud Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, was as follows: •the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognize non-compliance with applicable laws and regulations; •we identified the laws and regulations applicable to the Charity through discussions with management and trustees, and from our knowledge and experience of the Charity sector; •we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the activities of the charity. These included but were not limited to the Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102) (effective 1 January 2019); and Safeguarding Regulations as they affect the direct charitable activities of the charity; and •we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and those charged with governance and reviewed minutes of Trustees’ meetings. We assessed the susceptibility of the Charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: •making enquiries of management and trustees as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and •considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual or unexpected relationships; - tested and reviewed journal entries to identify unusual transactions; - tested the authorisation of expenditure - assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; - and - investigated the rationale behind significant or unusual transactions. Page 10 of 20 The Society, of Missionaries of Africa (al.80 knoivn a5 The White Fathers) Independent Auditors. Report In response 10 the risk of irregularitie5 and noth-¢omplianr¢ with laws and regulations, we desi¥ned pro¢edure5 which included. but weT¢ nol liinil¢d to.. a¥Teeiiig financial statement dis¢lo$ure5 to undeTlving 5UPPOrting documetjiaiion: reading thc minLll¢S ofmeeting5 of iriistees.. and eyiquiriiig of iiianagen)ent #nd Irust¢e5 as to actual and poieniial liii¥31ion and claims. There are inherent lirnitations in our audit procedures de5¢Tibed above. The more removed that laws and regulations are from rinancial Iransaclions. the less likely it is rliai wr would become aivare of non-compliance. Audiling SiaDdaTds also limit the audtl proccdures required to ideniify nvn**Income**
**Voluntary income**
Appeals, donations and legacies
1
Salaries, stipends and pensions
1
Masses said
**Investment income**
Dividends and interest
2
**Other Income**
Miscellaneous Income
Formation grants and bursaries
**Total income**
**Expenditure**
**Raising funds**
Investment managers fees
**Charitable Activities**
**Pastoral activities**
Mission animation - magazine
Upkeep of Communities
3
Promotion and formation
Support for Missions and donations
Administrative expenses
Other expenses
**Governance costs**
**Total expenditure**
4
**Total income less expenditure**
**Net gains (losses) on investments**
**Net income (expenditure) before transfers**
**Transfers between funds**
**Net movement in funds**
**Balances brought forward 1 January**
**Balances carried forward 31 December**|**General**
**Designated**
**Restricted**
**fund**
**fund**
**fund**
**2024**
**£**
**£**
**£**
**£**
717,363
-
222,008
939,371
291,427
-
-
291,427
33,658
-
-
33,658
126,044
-
-
126,044
-
-
-
-
14,595
-
2,865
17,460
1,183,087
-
224,873
1,407,960
15,078
-
-
15,078
102,466
-
-
102,466
798,939
-
-
798,939
17,191
-
-
17,191
38,523
-
352,390
390,913
4,110
-
-
4,110
1,983
-
-
1,983
18,592
-
-
18,592
996,882
-
352,390
1,349,272
186,205
-
(127,517)
58,688
99,988
-
-
99,988
286,193
-
(127,517)
158,676
-
-
-
-
286,193
-
(127,517)
158,676
3,716,514
8,123,801
352,391
12,192,706
4,002,707
8,123,801
224,874
12,351,382
**Unrestricted funds**|**General**
**Designated**
**Restricted**
**2023**
**fund**
**fund**
**fund**
**£**
**£**
**£**
**£**
1,220,034
636,953
-
583,081
292,721
292,721
-
-
32,084
32,084
-
-
154,904
154,904
-
-
21,225
21,225
-
-
12,775
12,775
-
-
1,733,743
1,150,662
-
583,081
14,766
14,766
-
-
105,701
105,701
-
-
789,321
789,321
-
-
21,109
21,109
-
-
285,226
31,697
-
253,529
4,081
4,081
-
-
-
-
-
-
29,417
29,417
-
-
1,249,621
996,092
-
253,529
484,122
154,570
-
329,552
180,640
180,640
-
-
664,762
335,210
-
329,552
-
-
-
-
664,762
335,210
-
329,552
11,527,944
3,381,304
8,123,801
22,839
12,192,706
3,716,514
8,123,801
352,391
**Unrestricted funds**| |---|---|---| ## **Continuing operations** None of the charity's activities were acquired or discontinued during the above two financial years. ## **Statement of total recognised gains and losses** The charity has no recognised gains and losses other than those shown above and therefore no separate statement of total recognised gains and losses has been presented. Page 12 of 20 ## **The Society of Missionaries of Africa (also known as The White Fathers)** **Balance Sheet as at 31 December 2024** |**Notes**
**Fixed assets**
Tangible assets
7
Investments at market value
8
**Current assets**
Debtors
9
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
10
**Net current (liabilities)/assets**
**Total assets less current**
**liabilities**
**Represented by:**
**Funds and reserves**
General funds
Designated funds
11
Restricted funds
12|**2024**
**£**
8,134,150
3,854,017
11,988,167
531,588
852,203
1,383,791
(1,020,576)
363,215
12,351,382
12,351,382
4,002,707
8,123,801
12,126,508
224,874
12,351,382|**2023**
**£**
8,139,325
3,768,382
11,907,707
831,657
619,987
1,451,644
(1,166,645)
284,999
12,192,706
12,192,706
3,716,514
8,123,801
11,840,315
352,391
12,192,706| |---|---|---| Approved by the Trustees and signed on their behalf Rev D Starkey Trustee Approved by the Trustees on 31st October 2025 Page 13 of 20 ## **The Society of Missionaries of Africa (also known as The White Fathers) Statement of cash flows** ## **for the year ended 31 December 2024** |**Note**
**Cash generated in operating activities**
**A**
**Cash flows from investing activities**
Investment income
Proceeds of investment sales
Purchases of investments
Purchases of Assets
Profit on on sale of assets
Cash provided (used) in investing activities
Increase in cash and cash equivalents in year
**Movement in year**
(Decrease) increase in cash at bank and in hand
(Decrease) increase in deposits and cash held by investment managers for re-
investment|**2024**
**£**
91,819
126,044
825,024
(845,542)
-
-
105,526
197,345
232,216
(34,871)
197,345|**2023**
**£**
(1,179,172)
154,904
1,209,664
(1,178,624)
(20,700)
19,200
184,444
(994,728)
(1,012,565)
17,837
(994,728)| |---|---|---| ## **A. Reconciliation of net movement in funds to net cash flow from operating** |Net income (expenditure)
Deduct investment income
Add depreciation
Profit on sale of assets
Add/(deduct) net movement on investments.
Increase (decrease) in creditors
(Increase) decrease in debtors|**2024**
**£**
158,676
(126,044)
5,175
-
(99,988)
(146,069)
300,069
91,819|**2023**
**£**
664,762
(154,904)
5,573
(19,200)
(180,640)
(697,504)
(797,259)
(1,179,172)| |---|---|---| Page 14 of 20 ## **The Society of Missionaries of Africa (also known as The White Fathers)** ## **Principal Accounting Policies** **for the year ended 31 December 2024** ## **1 Basis of preparation and assessment of going concern** The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The trust constitutes a public benefit entity as defined by FRS 102. The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern. ## **2 Income** All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations, are recognised when the Trust has been notified in writing of both the amount and settlement date. Legacies are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield in the investment portfolio. ## **3 Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. The cost of generating funds includes the fees paid to investment managers in respect of the management of the charity's investment portfolios. Expenditure on charitable activities comprises direct expenses incurred on the defined charitable purposes of the charity and includes staff costs attributable to the activity. Governance costs comprise of expenditure on compliance with and advice on constitutional and statutory matters. As all expenditure can be attributed to specific categories no apportionment between heading has been necessary. Irrecoverable VAT is included in the items of expenditure to which it relates. Page 15 of 20 ## **The Society of Missionaries of Africa (also known as The White Fathers) Principal Accounting Policies for the year ended 31 December 2024** ## **4 Tangible fixed assets** Freehold land and buildings are included at a valuation based either on a value estimated by the trustees in 1999 or on historical cost. The Trustees do not consider that the expense of a professional valuation in order to ascertain the separate values of the land and buildings is justified. The buildings are in constant use in furtherance of the charitable objectives and are maintained to standards that ensure that their residual value is not less than the book value. Buildings are not depreciated, for the reason stated above, they have a very long useful economic life such that annual depreciation would be immaterial. All assets costing more than £1,000 and with an expected life of more than one year are capitalised. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Plant, equipment, fixtures and fittings 20% or 25% on cost. Motor vehicles 25% on cost. ## **5 Foreign currencies** Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the statement of financial activities. ## **6 Investments** Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The Trust does not acquire put options, derivatives or other complex financial instruments. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. ## **7 Fund accounting** The general fund comprises those monies, which may be used towards meeting the charitable objectives of the charity at the discretion of the Trustees. The designated funds are monies set aside out of general funds and designated for specific purposes by the Trustees. The restricted funds are monies raised for, and their use restricted to, a specific purpose, or donations subject to donor imposed conditions. Page 16 of 20 ## **The Society of Missionaries of Africa (also known as The White Fathers) Principal Accounting Policies for the year ended 31 December 2024** ## **8 Taxation** The Trust, as a registered charity, is exempt from taxation on its income and gains falling within Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied to its charitable objectives. No tax charge has arisen in the year. Page 17 of 20 **The Society of Missionaries of Africa (also known as The White Fathers) Notes to the Financial Statements for the year ended 31 December 2024** |**1**
**Voluntary Income**
**Appeals, donations and legacies**
Mission appeals and donations
Legacies
**Salaries, stipends and pensions**
Salaries and stipends
Ministry
Pensions|**General**
**Designated**
**Restricted**
**fund**
**fund**
**fund**
**2024**
**£**
**£**
**£**
**£**
261,216
-
16,188
277,404
456,147
-
205,820
661,967
717,363
-
222,008
939,371
21,149
-
-
21,149
24,039
-
-
24,039
246,239
-
-
246,239
291,427
-
-
291,427|**General**
**Designated**
**Restricted**
**2023**
**fund**
**fund**
**fund**
**£**
**£**
**£**
**£**
363,263
258,699
-
104,564
856,771
378,254
-
478,517
1,220,034
636,953
-
583,081
15,764
15,764
-
-
22,504
22,504
254,453
254,453
-
-
292,721
292,721
-
-| |---|---|---| Salaries, ministry and pensions are the earned income of the Members gift-aided to the trust |**2**
**Investment income**
**General**
**Designated**
**Restricted**
**fund**
**fund**
**fund**
**2024**
**£**
**£**
**£**
**£**
Dividends and interest from investment
125,392
-
-
125,392
Bank and other interest
652
-
-
652
126,044
-
-
126,044
**3**
**Pastoral activities**
**General**
**Designated**
**Restricted**
**fund**
**fund**
**fund**
**2024**
**£**
**£**
**£**
**£**
**Upkeep of communities**
Premises
204,728
-
-
204,728
Community and Personal
594,211
-
-
594,211
798,939
-
-
798,939
**4**
**Net incoming (outgoing) resources before transfers**
**General**
**Designated**
**Restricted**
**fund**
**fund**
**fund**
**2024**
**£**
**£**
**£**
**£**
This is stated after charging
(crediting)
Staff Costs (note 5)
227,130
-
-
227,130
Auditors remuneration
11,790
-
-
11,790
Accounting and other
8,519
-
-
8,519
Depreciation of owned assets
5,175
-
-
5,175|**General**
**Designated**
**Restricted**
**2023**
**fund**
**fund**
**fund**
**£**
**£**
**£**
**£**
154,351
154,351
-
-
553
553
-
-
154,904
154,904
-
-
**General**
**Designated**
**Restricted**
**2023**
**fund**
**fund**
**fund**
**£**
**£**
**£**
**£**
183,040
183,040
-
-
606,281
606,281
-
-
789,321
789,321
-
-
**General**
**Designated**
**Restricted**
**2023**
**fund**
**fund**
**fund**
**£**
**£**
**£**
**£**
240,234
240,234
-
-
-
-
**-**
**-**
-
-
-
-
5,573
5,573
-
-| |---|---| - **5 Staff Costs** |Staff costs during the year were as follows:
Wages and salaries
Social security costs
Pension contributions
No employee earned more than £60,000 per annum (including benefits) during the year or in the previous year.
**The average number of employees, analysed by function was:**
Administrative
Domestic
Total|**2024**
**2023**
**£**
**£**
216,676
223,099
7,084
13,214
3,370
3,921
227,130
240,234
3
3
10
10
13
13| |---|---| ## **Trustees** As members of the Order the Trustees’ living expenses during the year were borne by the Trust but the trustees received no remuneration or other benefits in connection with their duties as Trustees during the year or in the previous year. Page 18 of 20 **The Society of Missionaries of Africa (also known as The White Fathers) Notes to the Financial Statements** **for the year ended 31 December 2024** ## **6 Taxation** The trust as a registered charity, is exempt from taxation on its income and gains falling within Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied to its charitable objectives. No tax charge has arisen in the year. |**7**
**Tangible fixed assets**
**Cost**
At 1 January 2024
Additions
Disposals
At 31 December 2024
**Depreciation**
At 1 January 2024
Charge for the year
On disposals
At 31 December 2024
**Net book value**
At 31 December 2024
At 31 December 2023
**8**
**Investments**
**Listed Investments**
Market value at 1 January 2024
Additions at cost
Disposal proceeds
Gain (loss) in year
Market value at 31 December 2024
Cash held by investment managers for re-investment
Cost of listed investments at 31 December 2024
**9**
**Debtors**
Due from other Provinces
Legacies receivable
Sundry debtors
**10**
**Creditors: amounts falling due within one year**
Held for Missions and Missionaries
Due to Generalate and other Provinces
Masses unsaid
Accruals|**Freehold**
**land and**
**buildings**
**Motor vehicles**
**£**
**£**
8,123,801
81,068
-
-
-
-
8,123,801
81,068
-
65,544
-
5,175
-
-
-
70,719
8,123,801
10,349
8,123,801
15,524|**Furniture**
**and**
**equipment**
**Total**

**£**
**£**
-
8,204,869
-
-
-
-
-
8,204,869
-
65,544
-
5,175
-
-
-
70,719
-
8,134,150
-
8,139,325
**2024**
**2023**
**£**
**£**
3,730,772
3,581,172
845,542
1,178,624
(825,024)
(1,209,664)
99,988
180,640
3,851,278
3,730,772
2,739
37,610
3,854,017
3,768,382
3,009,771
3,108,174
**2024**
**2023**
**£**
**£**
23,133
24,347
497,180
797,994
11,275
9,316
531,588
831,657
**2024**
**2023**
**£**
**£**
110,128
99,410
845,136
1,029,887
53,522
29,348
11,790
8,000
1,020,576
1,166,645| |---|---|---| ## **11 Designated funds** The income funds of the charity includes the following designated funds, set aside from the unrestricted funds of the Trust by the trustees for specific purposes |Capital Fund|At 1 January
2024
**£**
8,123,801
8,123,801|Transfers
Incoming
resources
Utilised/
realised
At 31
December 2024
**£**
**£**
**£**
**£**
-
-
-
8,123,801
-
-
-
8,123,801| |---|---|---| The capital fund represents the balance sheet value of land and buildings. Page 19 of 20 **The Society of Missionaries of Africa (also known as The White Fathers) Notes to the Financial Statements for the year ended 31 December 2024** ## **12 Restricted funds** |Mission Fund
St Anthony's Novena and Burse Fund|At 1 January
2024
Incoming
resources
Utilised/
realised
At 31
December 2024
**£**
**£**
**£**
**£**
-
352,391
224,873
352,390
-
224,874
352,391
224,873
352,390
-
224,874| |---|---| The specific purposes for which the funds are to be applied are as follows: The Mission fund represents funds received in respect of specific mission activities. St Anthony's Novena and Burse fund represents funds received for the training of White Father candidates. |**13**
**Analysis of net assets between funds**
Tangible Fixed Assets
Investments
Current assets
Creditors: amounts falling due
within one year|**General**
**Designated**
**Restricted**
**fund**
**funds**
**funds**
**2024**
**£**
**£**
**£**
**£**
10,349
8,123,801
-
8,134,150
3,854,017
-
-
3,854,017
1,158,917
-
224,874
1,383,791
(1,020,576)
-
-
(1,020,576)
4,002,707
8,123,801
224,874
12,351,382| |---|---| Page 20 of 20