BFCD Congregation of the Mission - The Vincentian Fathers Annual Report and Audited Financial Statements for the financial year ended 31 December 2024 Charity Number.. 2003777
Congregation of the Mission - The Vincentian Fathèrs CONTENTS Page Trustees, and Other Information Trustees, Report ststement of Trustees. Responsibilities Independent Auditorfs Rewrt 8-10 statement of Financial Activities 11 Balance Sheet 12 Notes lo the Financial Statements 13-18
Congregation of the Mission - The Vincentian Fathers TRUSTEES. AND OTHER INFORMATION Tru8t¢¢J Raymond Amstrowj Eugene Curran Chinedv Enuh steph Monaghan Sup•rlor Pas( Scallon Charlty Numb•r in En9l•nd and Wales 233777 Audltors BFCD Chartèrad A¢c(MJntants arKI Statlrtory Auditors 1 Casuewl Av•n Rathmines Dublin 6 Prfncipal Bankern HSBC Bank of Irdar Solicitor¥ Carter Lemon Camgrons LLP In¥¢slJnent Manager Dawy stkbroktrs
Congregation of the Mission - The Vincentian Father8 TRUSTEES. REPORT for the finanoal year ended 31 December2024 The trust8 wewt their TNstees' Report aNJ the autAled finanoal stateFrents for the financral y•ar eNJed 31 D8¢&mber 2024. The financial $tatemtrnts are prepaied in torarKe with the Charibes Act 2011. FRS 102 he Financ¢al Reporting Standard applicable irb the UK and Republic of Irdand" and Accounting and Reporbng by Charilie5'. Slalernent ol Recommended Pracli¢e applicable to chanties preparing trir financaal statements in accord8rKe wrth the Financial Reporting Standard alw[ble in the UK RebI of Irnd IFRS 102). The Tnjslees. Report ¢taInS the information reqtjiied to be prOVd in the Trustee$. Annual Report under the Statement of Recommen(led Practice ISORPI guid¢ling5. The twslees of the cha(ity are also Charity tnjstees for the purpose of charity18w arHI under the chartys ¢onstrtub"on are kncvffl as member5 of the board oftrusiees. In this report the trustees of Congregation of the mtssl- The VwKentian Fathers pr•s8nt a sumrnary of its purpose. govemance, activities, a¢hievements and finarS for the financial year 31 Dember 2024. The charity is a registered charity and atthough not oblwed to crynpty with the Ststement of Recommended Practice appli¢able in Ihe UK and Republic gf Iieland FRS 102. the organisab.on ha8 imeMented its racomm¢rKlatiiTh where relevant in these finan statements. MlssSon, ObJ8¢tS¥•8 #nd Strategy ObJectlv•• The pri1paI objective of the Charrty is to carry out CharItae worts connected vith the CongregatK)n of the Mission and forthe advancement ol the Roman Cathoh'c R10n. The Trust confirm that they have referred lo the gUance contsinéd in Ihe Charity Commission's general ldan on PLtblK benefit when revIng Ihè Trust's aims and objeth.ves and in planning ftrture a¢Ve5. Stru¢tur¢, Governance and Management Structure The Charity is adrninistered byTnJ$t8es consi%t of the Provi1•1 Superior {also known a$ Ihe Vltor0[.Pr0VinC1aIj of the Congregation of the Mission in England - an ex Offi Twustee - and not more than five arml not less than tsyo other Trustees appointed by the Provinoal sUpw( to hokl office for lrfe. The Provinual Superior is appointed for a period of six years to govem the Province oflhe c0rpjregatic. This temi ofoffice may be extended for a period ot three yeaTS. The Pfovincial may not serve MO than nine consecutive years in office. The Province include5 commLtnrttes in England, Northem Ireland and the Republic of Irdand. Ml ofthe Trust•8s fflusl be members of the Con9regation of the Mission. The TnJstee$ who h8ve served thjring the ye8r are set ojt C p•> 3 to tr Firsancial Statements. Govgrnance Thè Congregation ofthe miss1 ts ¥ th¥1de commuThty of priests and twothers in the Roman cathol Chuvch. The Congregation was foundeil by St. Vincenl de Paul in 1625. Th? Congregation of the Mission in England, Wales and Northern Ifeland is crmOnty called the VTrncentian Fathers. Thè Congregabon is a registered charity - Registration Number 233777- which was e$lalShe<l and is regulated by a Trust Deed made on 3rd October 1958. On the 21 st July 1980 the Charrty Commissioners for England and Wales estal$hed a Scherne for the Administration and Management ofthe Charity. A further Scheme for the Admini5traDon wtd Managemènt of the Charity was established and approved by thtr Charity Commissk)n¢rs on the 7th May 1998. R•¥iew of Activities, Aehie¥ements and Pèrfonnance Durin9 2024. rnembefs of the CoThJregation ol tIE MI&81 workiwj in tr United Kingdom liv in fvKJ separatè Communrt¥. one in London and one in Bellast in Northèm Ireland. In Septèmter 2023 the diocese of trInster3pF4)int8d theTru5t to undertake ihe running ofa parish near ourcurrenl parish in Mill Hill for a period of three years. This parish. the Church of the AnnuatiOn, Bumt Oak, is served by memr5 of the Congregats"on. A revw ol this ministry 11 take 8C• in eaFty 2026. Working in thè parishes consists of Ihe pa6toral Ca of people in these areas of noth London. In these parishes the members ofthe Congregation woth do5ety wrth parishic¥)ers to animate the faith community in its care and to enhance the lives of ihe parishioners a5 8 whole through a range of activ"e$ whth include.. youlh work, outreach to eld8tly and Infirn, care of p&)ple experierKitvJ disa(fvantsge and econ(xnic hardship. During 2024 the construcb.on of the new wesbylery {communty residen} at Sattod Heart and Mary Immaculate Parish in Mill Hill was completed, wrth Ihe membèrs of the Vincentian Community attathed lo Mill Hill mtiving in shordy after Easter. The new house was formalty opened by His Eminence. th• Cardinal Archkn"shop of Westminster. Vincent Nichc4s and the surIOr G¢neral ofthe Vlwtian CommLmty. Fr Tomat Mavric CM. in September 2024. Other memtets ofthe Con ation livin and workin in fowrn an'lntematKJnal Communi ', so ¢alled because
Congregation of the Mlssion - The Vincentian Fathers TRUSTEES. REPORT for the finanual year ended 31 DecwDbeT 2024 some of them a drawn from other Provinces of the C¢Jwr8gaiw around the worfd. During 2024 thi5 community moved to the new presbyt¢ry in Mill Hill. From here the members provKle ChaaIncY Seti$ to immigrant communities which have ojme to Britain EthKJpia aThJ PhdipF¥n•s. This communty is also engaged in spiritual 9uidance lo relbJicrtJs Sisters who Sha in the vIrtian charism of$$rvice to the poor. They also work in conduth"n9 swrrtual retreats. Other m•mL are chaplains to hospitals. Additionally our members Strive to be available to a range of other charit9 whth share in the Vincentian charism as 8nimator5 and spiritual guides. These indude the Daughtsrs ofcharity of St. Vincent de Paul. the Sctiety ofst. Vincent de Paul, Depaul IntematK)nal. Fam Vin GB aThJ th& VOkrtee W). Financial Revl The results for the finanoal year are set out on pagè 11 arKI addIt)nal notes are provided 8howiThJ income and expenditure in greater detail. Income Unrestricted income in the year amunled to £3C8.343 whiGh was a simlar figure to 2023. Reslricted iw)me in 2024 W88 £13.646 compared with £285.236 receNed from a bequest in 2023. Exponditu ExndItUre on Charitab act"e5 increased frc¥m £423,281 in 2023 10 £623,lJ)1. Depreriabon on the new prèsbytery al Mill Hill COMMCerf in 2024 which was Ihe prinopal rèasLM) lor this irwease. Donation expenditu decreased Irorn £823,781 in 2023 10 £13.951. A donation to the Irish Region of the Congregation of the Mission amounted to £95.667 as compared with £815.940 in 2023_ Almost thè entire ofthe investmènt FK)rtldio was sdd in 21Y24. Durir¥J the year realisad and unreJised losses amounted 10 £4,83412023- gains £70,804). Results and Dividends At the end ofthe financsal yearthè d)•rity has assets of £5.040.04012023- £5.395.783} 8nd liatm'lities of£95,39912023 - £27,98n. The net assets of the d)anty have dleaSed by £1423.155}. Flnanclal Position As a result ol foregoing. there wa$ a fiel expenditure in Ihe year of £423,84112023- £878.980). At 31st D¢cgmber 2024 the Charivs unrestricted reservès affK)unted to £4.$80,58312023- £5.()4,4241. Reserv•s Position and Pollcy Total reserves at the 315t December 2024 amwnt to £4,944.641. Trustees arè sisfied that the current level ol resee$ is adequate to suFyorl the members ol the gregatth ¥ThJ for VeStment in deveknping existing and new projects and ministri•s. Compliance Sector-wide Legislation and StsndanlB Th&charity engages pro-act& legislati, starwJard8 a1 codes are developed forthè sector. Congregalion ofthe Mission - The vIentian Fathers subscribes to and is complnt wrth th& fdlowing.. Th& Chariti&% SORP {FRS 102) Safeguardlng The Trust employees a lay professHJnal Worker to tske on the rde of Safe9LArding Manager and Deslgnated Liaison Peon was appointed. At every meeting of the TrustVS safegLsardir¥J is discussed and a rep(irt given by the Safeguarding Manager on work undertaken sin¢e the last meeling. Each year every Communty completes a Safeguarding self-audit. FdbwiThJ an anatys of these a11$ utvjertaken by the Safeguarding Manager any gaps are identrfied and feffli part of the Safeguarding Strategic plan for the year ahead. Mernbers engaged in parishes are 94ven regular traFnin9 offered by the dian authorities. Members have specthc safeguarding roles thin Ihe Chanty liaise regulaty their dio$an ¢ounterparts. Investmènt Policy The Assets of the Chaiity are comprised of prOpe"e$. quoted secJJrilie$ and bank balances. The prinapal investment fvnds are manage(l on behaifof the Charrty by professional fund rnanerS. The portfolio is managed on a discrelKJnary basi5, With a balanced investment pcAi¢y and a cautious attrtude to risk. It is the policy of the Charity to use income eam•Y on the invèstment portfolio t(Mar(Is the objects of Ihe Charity. It i also the policy lo Ireat gains from investment disposals as caprtd receipts atwj to re-invest ihese gains in ihe investmonl porifdio to generate further inme.
Congregation of the Mission - Th• Vincentian Fathers TRUSTEES, REPORT loi the finanaal year ended 31 tknber 2024 Risk Management The Trustees have conducted a review of the major risks to whth the Charrty is exposed. A risk règister has been established and is updated at least annualty. whe appropriate. system5 or prwedures have teen èstablished to mitigate thè ri$k$ the Charity laces. The Trustees are Unawa of any signfficant extemal risks. Inlemal contrd risk5 are minimi5ed by the imp1emeniatl of proce(lure$ for airthorisalion of all tranwtwJns and projects. Deslgnat•d Funds The funds of the Chanty irKlude the folowing d&swJn•ted vthic* have been s&t ashye wl of unrestricted reserves by the Trustees fof $wtsfi¢ purposes.. The fangible fixed asset fijnd represents the net value of the Charity's tangle ft(ed a55els used for the support of the members and their ministy. These fvnds are Separat general fiJnd in recognition of the fact that the gssets 8re used in the day to (lay w(Kk of the charity and the fund value would not be aliSabl èasily if required. Approved by the Board of Trustoes on 20 October 2025 and •191d on Its behalf by: Paschal Seall¢n Trust•• Steph•n PAonagh•n Trust••
Congregation of the Mission - The Vincentian Fathers STATEMENT OF TRUSTEES, RESPONSIBILITIES for the finanaal year trnded 31 December 2024 The trustees are responsib for preparing the finanaal statements in arrnrdarKe wih appliCae law and r8gulations. The law applicable to charthes in England and Wa$ requires the twstèès to prepare financial statements for each flnanci81 year which give a true and fair ol the assets. Ikgh'lth'es and finanual posth.on of the charity as at the ffinancial year end date and of the suuS or dthjt ofthe tharity otherwise compty wrth the Charitie5 Act 2011. In preparing these finanaal statements. the trustees are reqvwed to.. 58lect suitable accounting pole$ and appty thern o)nsistently'. make judgements and accounting eskn"matÈs Ihat are reasonable and prudent". state whether the financial statements have been prepared in actordance with applicable ac¢ounlrng 8tsndaTds, identrfy those standards. and note the effect and the reasons for any material departure frrmn those standards." and preparè the financial statements on thè LM)iThJ (x)fKem basis unless it is inappropn.ate to wesume that the charity 11 continue in operatyon. The tnjstees confirm that they have complied with thè atrtw$ rul[ements in weparing the finanfial Statemènts. The tWStees are SPsIble fty keeyng adg]uate accounb.ng récords that are SUff'ent to shvAf and explain the charity's transactions and disc105e vrith re850nable atturacy at any b.mè the ffinanckql position of the charity and enabl& them to ensure that the financial staterrnts comply with the Ch8filie5 Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking rèasonabbp steps for the prevention and deteth.on of fraud and othw irregulariti'es. Appr¢>ved the Board of Tnt¢¢8 ¢Jn 20 Octobw 2025 and $10n on its behalf by: Pasehal S¢8llon Trustèè Stephen PAonaghan Trustee
INDEPENDENT AUDITOR'S REPORT to the Trustees of Congregation of the Mission - The Vineentian Fathers R•port on tho audit ofthe fin•ncial statsm•nts Ownlon We have audited the charity financtal ststement5 of Congregation ofthe Mission- The Ifincenlian Fathers fthe charity) forthe finan¢ial year ended 31 December 2024 whKh cornprise Ihe Statement of Financial Activities, the Balance Shèèt and notés to the financial statements. in¢ludiThJ the suThwnary of signikant accounting polk>es set out in note 2. The finanrial reporting framewoth that has been applied in their preparation is applicable law and United ltingdom Accounting Standards. inclLwJing FRS 102 The Financial Reporting Standard applicable tn the UK and Republic ol I13nd., applying Sedn 1A ol that Standard and Accounting and Reporting by Chariti"$s." Ststement ofRecommended Practicè applicabb io chaiilies preparing th"r atxwnts in )rdar wilh FRS 102. In our opinion, when reFQrtiThJ in accorda wth a fair presentat)n frame•th thè finanrial statemenls.. givè a true and fair of the stat• oftt ¢han3 affair5 a5 at 31 Oecember 2024 and of it5 deficit forthe financial year Ihen ended.. have been propèrfy prepared in accordance with Untted KIny0M Generally Accepted ALntIng Pwtice.. and have been prepared in accordance wth Ihe requirements ofthe Charities Act 2011. 8¥¥is for opini We conducted our autht in COrd0nce wrth Intemational Standards on Auditing (UK) IISAS (UKII and applica? law. Our responsibilities undef those Standards are furlher des in the Auditorfs responsibilities for the 8(Klil of the finala1 slatements seth.on of our report. We are indendent ol the charity in accordance with ethical requirements Ihal a relevant to our audit ol the finanryal statements in the UK, including the FRC'S Eth1 Standard. and the Provisions Available for Audits of Small Entrbes. in the animstances set wt in Note 3 to the finatKial slalemtrnt5. and we have fulfilled our other ethical responwbilthes in accor(Jance wrth these wu1Ments. W• btrlve that the audit evidence we have obtained is suffKienl and appropriate to provide a basis for our op1"nn. Con¢luslons relatSng to 905ny concem In auditing the finanaal statements. we have conduded that ts trustees. use ofthe goin9 c¢ncem basis ofaccA)unting in the preparalwm of the finowKi81 stalements is approwth. 88sed on the work we have pthrmed. we have not identrfd any malerial uncertaint9 relating to events or¢ondrtions that, indNidually or collectNety. may cast SnKant doubt the chaiity's abs'lty to conb.nue as 8 going concem for a period of * least efve months from dale when the financial statements are authorised for issue. Our responsibilrt]"es and the resp0nsits1.•s of tsuslees t•hth r8sp8d lo g¢yng corKem are described in the leVant sections of this re other Inlom•tion The other infomab.on c(Mnprises the infomiakn induded in the annLbal report other than the financial statements aThJ our Auditoes ReKK)rt thereon. The trustees are re$rYIb1e for the other irrformalion conlained wrthin the annual report. Our opinion on the financial statemenis does Th)t cover the other inlorniab.on and, except to the extent otherwise explicitty ststed in our report, we do rLJt eXpsS any form of assurarKe condusion th&reM. Our responsibility is to read the other informat)n aThJ. in t1ow)g so. consider ¥thetr th& other infornation is mat•rialty inconsistent wrfh the financial statemen15 or OUT knowfedge obtained in the course of the atjdil. or othetwise appears to be materially misstated. Ifwe Klentrfy sh rnaterial inconsistenues orapparent material mi5staterTts, we are required to detemiine whether this gsves rise to a malenal misstatement in the finarla1 statements themselves. If, based on the work we have perfOr[Tl. we condude that tr[e is a material misststement of this other information, we are required lo report that fact. W¢ have nothing to reEt in trus regard. Matt•rn ¢>n whlch we arn r•qulred to report by txeeptron In thè light of our knowledge and understanding of the charTty aThJ its w)vironment obtained in the COUTse of the audit, we have not id8ntified malerial mi55taternents in Ihe Trust•e5' Rep(yt. We have nothing to report in re$pect ofthe fo11n9 fflatters where th• ChaiilEs 2011 raqui$ us to report to you if. in our opinion.. adequate accounting recDrds have not been kept," or thè financial statements are not in agreement with the accounkn"th3 reoyds and retums: or certain di5¢10sures of tnJstee5' remuneration specffied by law are ntst made.. or the trustees were nol entitléd tts prepaie Ihe finanryal Statements in rdance wtth the srnall companie$ regime and take advantage of the small companies, exempb.on in preparing Ihè Trustees. Annual Repwt.
INDEPENDENT AUDITOR'S REPORT to tho Trustees of Congregation of the Mission - The Vincentian Fathers Responslbiliti•• of trustees for the financlal ststgmgrts As explained morè lully in the Statement ol Tru5tees' Re$kM)nsit¥lities set out on pag¢ 7, the trustees are responsiblg for the preparation of thè fin8nryal statements and for b"ng Satsfied that they gNe a true and fair view. and for s¢Jch internal control as they determine 15 necessary to enable the preparalion of finarla1 statements th818re free from material rn4SStatement, Wtha1 due to frwd or eThor. In pparing the finarrial statemènts. the trustees a respy)nsjIt for asse5sirKJ the tharity's ability to ¢onlinue as a going conGem. discfosing. as appIle. matters related to g¢ing ¢orKem and using the going coneem basi5 of accounting unle55 management ether intends to liquidate the chanty or lo cease operations. cw has no realistic aliematwg but to do so. Audltorfs r•8pon¥ibilities for the audit of the financial gtstem•nts Our obpctNes are lo obtain reasonabbè assurance about whether the firt8ncaal statements as a whole are free fron7 material misstatement. whether due to fraud or error. and to issue an Audrtorfs Report that indudes tsur gtxnion. Reasonable assurance is a high level ol assurance. trrt is Th)t a guarantee that an audrt conducted in accordance with ISAS IUKI wll aayS detect a material misststefflent when it exists. Misstatements can arise from fraud or ernor and are considered material rf. indNidualty or in the aggre9ate. they could reascffiat4y be expected to inffluerKe the economi¢ deu$ions of users taken on the basis of these financial slatements. lttagubribes. including fraud, aro instarKes of -cOMplI8n¢e with IS and wulation$. We design procedures in line th our responsibilities, tsjtlined above. to detect material mi5Statements in reswct of irregularities. includig fraud. The extent tts whith our prctedures are Cab ol detecting irwUlant. udIng fraud is detaj.led below.. Furthor Infonnation regarding the scope of our rnspon¥ibilities as auditor A5 part of an audit in ac¢ordance vthh ISAS (UK), we exerclse professional judgement and maintain professional $¢epti¢isrn Ihroughout the audrt. We $0.. Identify and assess the risks of rnateria misstatem1 of Ihe final statements. vtheiher due to fraud or error, design and perlomi audit Pred$ spOn$t to risks. and obtain audrt eviderKe that is sufficient and appropriate to provide a basis for our onsn. The risk ol not detediNJ a material misstatement UltIng trorn fraLsd is higher than for onè resutting from error, a$ fraud may nivolve rxJlkJsh)n. forgery, tnttrnlional omissions, misrepresentstions, or Ihe override of inlemal contrL4. Obtain an understanding of intÈm81 Ctrol relevant to the audrt in order to design audit proc8dur&s that are appropriat¢ in the Circumsta$, lyjt not for thè puw of expressing 8n owion on the effectiveness of the charity's intem81 control. Evaluate the appropriateness of ar)wnting 1&$ used and the reaSona1)lene of accounting estimates and Telaled disdosures made by InJstÈe$. Conclude on the appropriateness of the Injslees. use of going concem basis of 80ntIng and, based on the audrt evidence obtained, whether a matefial uncertainty exists related lo events or tditIOnS that may cast Sl9niknnl doubt on the ¢harity's abilty to conlirbue as a going concem. If we ndUde Ihat a material UnrtaInty exists, Wè are reqUId to draw attenlion in tyjr ALbJrtorfs ReFQrt to the related disdosures in the financial statement5 or, if such disclosures are inadequate. to nwjdify our opinion. OJr Conduor a based on the audit evidence obtainèd up lo the date ofourAuditorf8 Report. fithjre events or ¢orKliDons may causè the charity lo ceasè to continue as a going concem. Evaluate the erall presentation, slructure and content of Ihe fmartial statements. induding the disclosu$, and whether the finanual statements rèpresent the undertyin9 tsansacbons and èvgrits in a manner tho1 xhieves fair presentation.
INDEPENDENT AUDITOR'S REPORT to the Trustees of Congregation of the Mission - The Vincentian Fathers W8 G(Mnmunicate with those tharged ¥th govemance regarding, amoThJ other matters. the anned scope and timing of the audit and signifjcant audrt firKlings. including any signifKant deierleS in intemal conlrol that we identify during our audit. The Purpo ol our •udit work and to Tfvthom owe our responsibiliiles This reFX)rt is made solely to the charitys Irustees. as a bocty. in accordance wth th¢ Charibe5 Act 2011. Ouraudrt work has been undertaken so that we might stste to thè charitys trustees those mattets we are required to state to them in an auditorfs rew1 and ft)r no other puw. To the fullesl extent pem)itted by law, we do not acwt or assuma responsibility to anyone other than the chanty and the d)arrtl$ tW5tees as a body. for our audrt work. for this report, or for the ownions we have fomw. Dara O Gaora For and on behalf of BFCD Chartered A¢xountarts and Statutory Audito 1 Castlewoc¢Y Avenue Rathmines Dublin 6 24 Octor 2025 10
Congregation of the Mission - The Vincentian Fathers STATEMENT OF FINANCIAL ACTIVITIES for the financial year ended 31 December 2024 Unrestricted R•strietsd Funds Fund• 2024 2024 Tot¥l Unrestrict&J Restrictad Fund¥ Funds Funds 2024 2023 2023 Total Funds 2023 Incoming Resoure•8 Donations and legacies Charitable acb'vf(ies Salartg$, Pensio and Similar Income Invèslments Other income 13.646 13.646 285,236 288.836 290.074 290,074 284.268 284,268 5.255 14.014 5,2SS 14.014 3,¢X)3 18.146 3,003 18.146 Total income 309.343 13.646 322.9B9 309.017 285,238 594.253 RgsourceB Expended Raising fvnds Ch8trtable activities Other expenditure 1,398 623,001 103,951 1.398 623.001 116.911 11.739 423.281 823.781 11.739 423,281 830,981 12,960 7,200 Total Resources Exp•nd•d 728,350 12.960 741.310 1.258.801 7,2 1,266,001 Nel gainslllossesl on Inve$trrwts 14,834) 14.8341 70.804 70,804 N•t in¢omingloutgoing r•sour¢g¥ before transfers 1423,841) 1423.1551 {878.9BOI 278,038 1600,9441 Transfers bett¥een lunds Nèt movernent in funds for thè finan¢ial year 1423,a411 1423.1551 (878.9801 278,038 1600,9441 R•¢on¢lllatlon of funds: Total lunds Winning of the year 16 5.1)04.424 363.372 S,367.796 5,883,404 85,336 S.968,740 Total fvnds at the end of th¢ ygar 4,580,583 364.058 4,944.641 5,CQ4,424 363.372 5.367,796 The Ststement of Financi Activth"es indudes all gains and h)ssès re¢I>3ned in the ffinaal year. All income and expenditure ielates to coniinuing activrfies. notes on pages 13 10 I810 part ofts fI)•n¢i 5t*ments 11
Congregation of the Mission - The Vincontian Fathers BALANCE SHEET as at 31 December 2024 2024 2023 Fixed Assets Tangible assets Investmnts 11 12 4,$34.043 60,701 3,457,368 308,993 4.594,744 3.766,361 Curr•nt Assgts Debtors Cash and ¢a$h eqvivalents 13 9.953 435.343 17.164 1.612.258 445,296 1,629.422 Cred5torn: Amounts lalling due within one year 14 195.3991 127,9871 Net Current Assets 349,897 1,601.435 Totsl Assets less CurY•nt Liabilities 4.944,641 5,367,796 Funds Restricted tnjst ftdS DeSnated funds {Unrèstrict Gene¥al fvnd lunrestricte(11 364,058 4.534,043 363,372 3.500.000 1,504,424 Total funds 16 4,944.641 5,367,796 The finanaal statements have been preparJ in accordance wrth the kMOVt5ions applicable to companses subjed lo the small companies. regime and in accordance with FRS 102 Tr Financial Rep)rtir¥J Standard apicAble in Ihe UK and Republic of Ireland", applying Seckn IA ofthat Sdar. Approved by the Board of Trt0t and author forlgsue on 20 Octobgr 2025 and signed on its b•half by Paschal Scallon Trust00 Stsphen Monaghan TnMt¢e The notes on py 13to 18 fcfft port ofthe finarwial 8trwts 12
Congregation of the Mission - The Vincentian Fathers NOTES TO THE FINANCIAL STATEMENTS lor the financ4al year end¢(J 31 December 2024 GENERAL INFORMATION Congregation of th& Mission - The Vincentian Fathers is a charity Incrporated in the United Kingdom. The registered office ofthe chanty is 2 FIr Lane. London. NW7 2JB. England vthich is also the princApal place ol business of the charity. Thè finarbrAal statements have beM wesented in Pound l£} vA)id) is also the tsnctional ¢uwrency ol the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Th8 follwng accounling FK)li<ies have been applied 0)n$1•n in dealing Vlith ite whi¢h are cOnSe material in relation to the chanty'$ financwt statements. Basls of preparation The financial stalements have b¢&n kyepared on the gc#ThJ ba518 urhyer the historical eo$t convention. modffied to include certain items at fair value. The financial statèmènts have been Prepa in rdance with the Statènnt of Rec4Jmmended Prathe ISORPI "Accountin9 and RepNbng by Charities prtrparing their accounts in accordance th the Financial ReFNbng stdard appIe in the UK and ReKwbli¢ of Ireland FRS 102.. apptying Section 1A of that Standard. Statsment of complSane• The financial statements of the chaiity for Ihe financial year ended 31 December 2024 have been prepared on th¢ going cOrern basis and in 8cccd8nce with the Statement ol Recommended Practth ISORPI 'Accounting and Reportin9 by Charities prèparing trir accounts in accoFdance with the Finanaal Rèporting Standard applicable in the UK and Republic of IreLand FRS 102., apptying Section 1A ol that Stsndard. Fund accounting Th¢ ft)Ilowing are the catego5 of frjnds maintained." R•¥tricted fvnds R•5trthd fvnds represent irKx)me Tl¥ed Wh can onty be Used for parbcular Fwlposes, as spea.fied by the donors. StKh purposes are within Ihe overall obiectNes ol the charity. Unw•stricted funds UnroslrKted fvnds consist of Gener81 and Designated lunds. Gèneral fvnds represent whi( are expeThJat4 at the discretion of the tr)ord, in fvrtherance of th¢ objectwes ol the charity. Designated fur5 rnprise unr¥$tricbJ fvnds that the Trustees have, at their diSCtion. sel aside for partular pUSe$. These desnationS have an administratNe kXJfFrf)se only. and {) not legaly restrict the Trustee's discrètion to appty the ftrnd. Incomlng R•sources Income is recognised by induswjn in tht Statement of Finaal Aclivib"es onty vthen tho ¢harity 18 legalty entilled lo the income, performance conditS attathe(I to the rtemls} of irwne have been met, thè amounis involved ¢an be measured will) suffiryenl reliabilsty ant1 rt is prthbbe thal ihe incomè will be receNed by thè ¢h8rity. R•saur¢M Exp•nd•d Expenditure is analysed LEn costs of charrtable activrtses and raisbng furKls. The costs of ea¢h activty are separately aMUlated and disclosed. and analysed 8ccdtng to Iheir major components. Expenditure is recognised when a legal of constrLKtive ouigation exists as a resurt of a past event. a transfer of economic benefits is requir8d in settlement arKI th8 aThKJunt ol the oblation be llabty measured. SupF¥)rt t05ts are those functions that assist the work of the charty cannot be attsibuted to one actNity. 13
continued Congregation of th• Mission - The Vincentian Fathers NOTES TO THE FINANCIAL STATEMENTS for the finanoal year ended 31 Decemb8f 2024 Tanglble fix aets and depreciation Tangible fjxed a55ets are slated at cost less accumulated deFKeuatKJn. Major improvements to properties are capitalised and inGlyded in cost ol properties tn the year in which the expendrture takes place. The charge to depreciation is cal¢ulaied to ¥ile off the origmal Cost or valuation of tangit4e frKed a$$¢ts, le85 their estimated residual Value, over thwr expected useful INes as foll(yws: Land and buildiNJs frselK)Id Fixtures. ffitts'ngs and 8quipme Motor vehides 4% Strwght line 15% Strw'ght line 20% Strw'ght line Deprerjats'on is onty charged on resKJenknal Fwf4)erty assets frcxn the year in whth the asset Put into use. Church properties are not capitalised and theirv4ue is nol rellect8d in the Accounts. Because ofth8 nature and lunction of these propertS, thè TrtA5tees consider it unlikely that they woulj ever be sold. Thè Trustees are of the OF¥nh?n that it could be misleading to reffleL a vahje c41 these partioJlar properties in the Accounts. Investm•nts Listed inveslrnen15 are a fom) ol bast fina>al Irtfunt and are inib8lly recwnised at their transaction value and SubseqUenY rneasured at their fair value a5 at the balance sheet dale using ihe closing quoted market price. Realised gains lor losses) on invesknent assets are calcjjlated a$ the drfference between disposaf prctEeds and their onIng carying value or th•r purthase yUe rf acqui $ub5equent to the first day of the financial year. Llnrealised gains and losses arè kUlated as the dthefence befvn the fair value at thg year end and iheir carrying v&ue at that date. Realised and unrealised investrnenl gains lor losses) arè Combined in the statement ol finanual activitie5 and are crèdrted lor debiledl in the year in whith they arise. Cash and ea$h oquivalents Cash and cash èquivaknts COmlS•S rash on deposit at banks requiring less than Ihw monlhs notice ot withdrawal. Taxati)n and dèferred taxatSon No current or deferred taxation arises as tharity has teen granted dwtable exemption. Irrecoverable valu8d added lax is exwised as incurrgj. PROVISIONS AVAILABLE FOR AUDITS OF SAIALL ENTMES In common with many other charity of our size and nature. we usè our auditors lo assist wth the preparation of the financial statements. INCOME DONATIONS AND LEGACIES Unrnstrletsd Restricted Fund• Fund• 2024 2023 Donations and le9ac 13,646 13,646 288,836 CHARITABLE ACTIVITIES Unre8trfct•d R¢tstricted Funds Funds 2024 2023 Salarles. Pensions and Slmllar Income: Pension and Salary Incom* Mass Siipend$, Stole Fees, Supth arKI Dues 240.6n 49,401 240.673 49,401 264,117 20.151 290.074 290.074 284,268 INVESTMENTS untrIcted R•stricted Funds Funds 2024 2023 Investments 5,2SS 5.255 3,003 14
cnnbnued Congregation of the mi83ion - The Vincentian Fathers NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 Decwber 2024 OTHER INCOME Unrestrlct•d R¢trithd Fund8 Funds 2024 2023 Other income 14,014 14,014 18,146 EXPENDITURE RAISING FUNDS Olrn¢t Colts Support Costs 2024 2023 Cost• Raising knds 1,398 1.398 11,739 CHARITABLE ACTIVITIES Direct Costs Support Costs 2024 2023 C(Ats Other Suprort costs Community Wages aThJ Sal8ries Medical and Halthare Establishment Forniation Depreciation on Tangible Assets Governar Costs (Note 5.4) 91,917 91380 94,383 18.858 102,588 2,554 202.142 18.179 91.917 92.380 94.383 18,8S8 102,S88 2.554 202.142 18.179 96,658 84,660 47,101 21.262 154,264 9,102 10.234 623.001 623.001 423.281 OTHER EXPENDITURE Direct Support Costs 2024 2023 Costs Donations 116,911 116,911 B30.981 GOVERNANCE COSTS Y•ct Costs Support 2024 2023 Governan costs 18,179 18.179 10.234 SUPPORT COSTS CharfIab Govgrnan¢e ActSvStl•8 2024 2023 Supwt 604.822 18.179 623.001 430,481 ANALYSIS OF SUPPORT COSTS 2024 2023 Support 623.001 430,481 15
continued Congregation of the Mission - The Vincentian Fathers NOTES TO THE FINANCIAL STATEMENTS lor the financial year ended 31 December 224 NET INCOMING RESOURCES 2024 2023 Net Incoming Resoure•s arg $tat¢d after Charg1(¢*dtOngl. Depreriation ol tangibl¢ assets ALKlitorfs remuneralion." - audrt services - other non-avdit services 202,142 9,102 4,000 5,825 3,500 4,629 INVESTMENT AND OTHER INCOME 2024 2023 Sundry incoff Bank interest Investment income 2.842 3.047 1.388 1.518 1,485 8,097 4,391 APAOUNT WRirrEN OFFIBACK ON IIIVESTMENTS 2024 2023 Realised gainslk•&sesl on d1sFal$ of investments Unrealised gans on investments {12.9921 8.158 27,583 43.221 14.8341 70,804 10. EMPLOYEES AND REMU14ERATION The staff costs (In¢Fusi¥e of trustees. $8laries) cn"S¢.. 2024 2023 Waw and salaries 69,383 31.684 11. TANGIBLE FIXED ASSETS Land and Fixtures. buildinys fittings and freehold equipment Motor vehicle8 Total Cost At 1 January 2024 AddilK)ns 3.437,662 1.082,825 3,504.170 1,278.817 180.192 15,8 At 31 December 2024 4.520,487 180.192 4,782.987 Depreciatlon Al 1 January 2024 Chargtr for the finan¢ial year 46,802 12.262 46,802 202,142 171,861 18.019 At 31 December 2024 171.861 18.019 59. 248,944 Net b¢)ok value At 31 D8¢gmber 2024 4.348.626 162.173 23,244 4.534.043 Al 31 December 2023 3.437,662 19,7C6 3.457,368 18
¢ontinued Congregation of the Mission - The Vincentian Fathers NOTES TO THE FINANCIAL STATEMENTS lor the finanaal year ènded 31 December 2024 12. INVESTMENTS Other investments Total Investments Cost Al 1 January 2024 Movement 308.993 1248,2921 308,993 1248.292) At 31 December 2024 60,701 60.701 N•t tK>ok value At 31 D8cember 2024 60,701 60,701 At 31 Dmber 2023 308,993 308,993 13. DEBTORS 2024 2023 Prepayments and a¢xrued #Kome 9,953 17,164 14. CREDITORS Amounts f•lllng due wlthln one year 2024 2023 Other creditors Acc¥uals and deferred inc 7,140 20,847 86,051 95.399 27,987 15. RESERVES 2024 2023 At the beginning of thè year Deficit for the financial yaar S,367.796 1423,1551 5,968,740 1600.9441 At Ihe erKI ol the year 4,944,641 5.367.796 16. FUNDS 16.1 RECONCILIAMON OF MOVEMENT IN FUNDS Unrestricted Restricted Funds Fund6 Total Funds Al 1 January 2023 Movement durin9 the finanaal y 5.883.404 1878.9801 85.336 278.036 5.968.740 16rx).9441 At 31 December 2023 Movement during the fmancial S.(MM,424 1423.841) 363.372 5,367,796 1423.1551 At 31 Dgcember 2024 4.580.$83 364.058 4,944.641 17
ntinued Congregation of the Mission - The Vincentian Fathers NOTES TO THE FINANCIAL STATEMENTS for the financAal year eThJed 31 1)ewnber 2024 16.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance Incom• Expèndilu Tran$fvrs Balane• 1 January 2024 tw•èn 31 Dernber funds 2024 Restricted funds Restrict 363.372 13.646 {12,) 364,058 Unre8trict•d funds Dasignated Fund- Tangible Frxed 3.5C(I.CLK) Assets 1.034,043 4,534.043 Unrestricted General 1.504,424 3(P3.343 1733.1841 {1.034.0431 s.4.424 3fts.343 1733.1841 4,580.583 Total funds 5.367.796 322,989 746.144 4.944.641 16.3 ANALYSIS OF MET ASSETS BY FUND Fixed assets - chaiity use Flnaneial fixed assets Current Curront assets Ilabilities Tots Unrestricted designated funds Unrestricted general fvnds 4.534.043 4,534,043 410.598 eii,701 445,296 {95,3991 4.534.043 ).701 445.296 {95,3991 4,944,641 4.534,043 60.701 445,296 (95.3991 4.944.641 17. POST4ALANCE SHEET EVENTS There have been no signifKant events atsting the Charrty since the financial ye8r-end. 18