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2022-12-31-accounts

Claretian Missionaries Trust

Annual Report and Accounts

31 December 2022

Charity Registration Number: 234026

Contents

Reports
Reference and administrative information 1
Trustees’ annual report 2
Independent auditor’s report 13
Accounts
Statement of financial activities 17
Balance sheet 18
Statement of cash flows 19
Principal accounting policies 20
Notes to the accounts 26

Claretian Missionaries Trust

Reference and administrative information

Trustees Father Paul Smyth
Father Christopher Newman
Father Carlos Candeias
Father Manuel Segura
Father Philip Blandford
Father Joseph Katthula (Appointed 18
December 2023)
Father Bijaya Nayak (Appointed 18
December 2023)
Principal Address The Towers
High Street
Buckden
St Neots
Cambridgeshire
PE19 5TA
Charity Registration Number 234026
Auditor Buzzacott LLP
130 Wood Street
London
EC2V 6DL
Bankers Santander UK plc
2 Triton Square
Regent's Place
London
NW1 3AN
Solicitors Stone King LLP
Boundary House
91 Charterhouse Street
London
EC1M 6HR
Property Agents Annafield Estates
11 Market Square
St Neots
PE19 2AR

Claretian Missionaries Trust 1

Trustees' annual report 31 December 2022

The trustees present their report together with the accounts of Claretians Missionaries Trust (the charity) for the year ended 31 December 2022.

The accounts have been prepared in accordance with the accounting policies set out on pages 20 to 25 of the attached accounts and comply with the charity's trust deed, applicable laws and the requirements of 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 the Republic of Ireland (Charities SORP FRS 102).

Introduction

Claretian Missionaries – also known as ‘Missionaries, Sons of the Immaculate Heart of Mary’, are a religious community of priests and brothers founded in 1849 near Barcelona, Spain by St Anthony Mary Claret, who was canonised by Pope Pius XII on 7 May 1950.

From January 2019 the membership in the UK has been linked with members of the Congregation living in Spain and Portugal, and is known as the Province of Fatima. The Claretians have a particular devotion to the Immaculate Heart of Mary and, in the words of our Founder, they are to be “people aflame with the love of God who spread this fire wherever they go”. The whole world is to be their

mission field and they are to make themselves “the helping hands of the bishops of the world”.

Today they number over 3,000 members and continue the work of their saintly Founder in over sixty countries of the world. They are to be found in many of the poorest and most under-developed parts of the globe. They run parishes, schools, and colleges; they serve as university chaplains; they work in radio, television and journalism and publishing. Their work is unlimited. In England, while their numbers are few, they give expression to their ministry working from communities based in Hayes (Middlesex); Leyton (East London) and Buckden (Cambridgeshire). In addition to the parishes, they have responsibility for a retreat and conference centre that they operate in their facilities in Buckden. During 2021 they completed the refurbishment of facilities in Hayes and since August 2021 have provided a venue, the Claretian Oasis Centre, for pastoral and social activities.

Constitution

Claretians Missionaries Trust is a charity established and governed by a trust deed dated 28 September 1912 and amended 25 November 1991. It is registered with the Charity Commission, Charity Registration No. 234026.

Mission

The charity’s principal aim is the proclamation of the Christian Gospel in word and action as expressed in the teaching of the Roman Catholic tradition.

The charity’s aims include:

Claretian Missionaries Trust 2

Trustees' annual report 31 December 2022

Philosophy and values

The Charity’s philosophy is derived from the Christian Gospel. Members feel called to contribute to the building of a society of justice and equality. All are encouraged to collaborate in the building up of communities which seek to care for all people, especially for those in danger of exclusion and being overlooked.

The values that lie behind this philosophy are expressed in the vows taken by the membership on entering Congregation and joining religious life.

Poverty

The ideal expressed in this vow is that of living simply and holding all possessions in common. Members have no personal possessions, all resources are shared and used for the good of each other and the work that the charity commits itself to do.

Celibate chastity

In making a commitment not to marry or to engage in sexual relationships, members are committing themselves to be able to work wherever they are needed. They are free to be available and present, offering support and care when needed by individuals or groups. They commit themselves to living in non-exploitative respectful relationships that seek the good of the people with whom they engage.

Obedience

With this vow each individual undertakes to give generously of their gifts and talents in an unselfish way. Through making a commitment for the decisions to be made in common each member strives not to be individualistic in the way they exercise power and choices. The hope is that power is instead exercised in the service of the greater good and not one’s own personal development and aggrandisement.

Activities and specific objectives

Objectives and aims

The charity's Trust Deed states its principal objective to be "the advancement of the Roman Catholic religion, the education of children, for the medical treatment of poor persons and any religious or charitable work in connection with the Roman Catholic Church."

As stated above under “Mission” the charitable activities of the Claretian Missionaries Trust are undertaken by the members and can be divided into a number of principal areas. Each of these areas is discussed in further detail in the paragraphs which follow.

In setting the charity’s objectives and planning its activities the trustees have given careful consideration to the Charity Commission’s guidance on public benefit.

Claretian Missionaries Trust 3

Trustees' annual report 31 December 2022

Activities and specific objectives (continued)

Objectives and aims (continued)

Supporting the Roman Catholic Church in the UK and Ireland

This particular objective is principally met through the UK/Ireland Delegation's responsibility for the pastoral care of three parishes in England: Hayes and Leyton in

St Joseph’s RC Church Leyton

London, and Buckden in Cambridgeshire. The work of the parishes encompasses the normal range of activities found in this country, offering accompaniment to people at significant moments in their lives (e.g. birth, marriage, illness, death) through offering spiritual guidance and support. Often responsibility for a parish can result in involvement as Governors in local schools and offering chaplaincy services to local hospitals or prisons. Some members also involve themselves in other diocesan positions to support the local Catholic

Church, or offer support to particular ethnic communities. The parishes are multicultural communities which provide a forum that contributes to the social integration of immigrant groups into British society.

In addition to the parishes, the Retreat and Conference Centre at Buckden and the Claretian Oasis in Hayes allow the Claretian Missionaries Trust to offer a range of facilities and programmes that are used for the benefit of the wider Catholic community. The charity has, at Buckden, extensive retreat and conference facilities designed for both youth and adult retreats with residential accommodation offered.

In addition to local responsibilities that are aspects of a particular role and appointment, members are also encouraged to respond to invitations to support broader pastoral initiatives and will support pilgrimages and retreats in the wider community. One member also continued to serve as President of the Conference of Religious of England and Wales.

Promoting awareness and responses to issues of social justice at home and abroad This objective has been mainly carried out through our commitment to the wider missionary work carried out by the Congregation in different parts of the world. Any monies raised for different projects are sent through our Mission Procurator in Seville.

In the UK the members of the charity use the opportunities available to them in the parishes and retreat centre, to encourage people to reflect upon their responsibility for the environment and the wider community, encouraging them to use their time and resources in a responsible manner to help others.

Collaborating with other individuals and agencies concerned with promoting gospel values in our society.

Claretian Missionaries Trust 4

Trustees' annual report 31 December 2022

Activities and specific objectives (continued)

Objectives and aims (continued)

Promoting awareness and responses to issues of social justice at home and abroad (continued)

Networking with other agencies and charities working to promote aims similar to those of the charity is an important aspect of the charity's ministry. These agencies include the Dioceses where the charity is present, the Conference of Religious, schools, ecumenical bodies and social justice networks. In addition to working with formally recognised agencies the charity encourages the participation of volunteers and collaborators in the ministry with which the charity is concerned.

Providing support and care for people in need

The work of the members of the charity means they are available to help and support people in a variety of pastoral situations, for example people coming to terms with bereavement or terminal illness. With respect to the finances of the charity there are also resources used for the health care of the Missionaries who are elderly or have serious illnesses. The charity seeks to provide resources for the medical needs of all members but especially those in their later years.

Re-organising its presence to be better able to respond to future need

For the charity to continue its ability to fulfil its mission the trustees recognise the need to allocate resources for both the ongoing preparation of the present membership and also the recruitment and induction of new members. All members are supported financially from our ministries and the funds of the trust.

With the tremendous change that has occurred in society the trustees recognise the need for the membership to re-evaluate their presence and the ways they are working towards fulfilling the objectives of the charity. One aspect being explored is the ethnic makeup of our membership. As part on an international organisation the trustees are investigating ways of renewing the membership through the inclusion of members representing a wider range of ethnicities than the traditional Anglo-Irish group that have made up the membership of the charity. During 2022 we had three members from India, one from Nigeria and one from Poland engaged in the work of the charity.

The trustees have been working in collaboration with Claretian Missionaries based in Spain and Portugal to explore how we might be able to adapt our operating structures as an international organisation to ensure the sustainability and effectiveness of our continued presence in the UK. Since January 2019 the members of the Claretian Missionaries in the UK have formed a region of the Province of Fatima which includes Claretians based in Portugal and the south of Spain which includes the Canary Islands.

Claretian Missionaries Trust 5

Trustees' annual report 31 December 2022

Activities and specific objectives (continued)

Objectives and aims (continued)

Heritage Project

In addition to the work of meeting the objectives of the charity, ownership of Buckden Towers, a heritage site with scheduled monument status, also requires time and resources. As a property with a history going back to the Domesday Book, the buildings are recognised by English Heritage as being of national importance.

During the ownership of the site by the Claretian Missionaries, buildings that were in ruin have been carefully restored and reclaimed and are now the facility from which the charity's retreat and conference centre operate. A maintenance plan is in place which continues to be implemented, though the issue of how funding might be generated for the major repairs needed on the property will warrant further investigation.

Buckden Towers

The Tower, Buckden

Review of activities

Like most organisations the work of the Claretian Missionaries Trust continued to be impacted by the Covid situation during 2022. The pastoral centre at Buckden in 2021 began to receive some groups and during 2022 has made its facilities available to offer hospitality to Ukrainian Refugees

Hayes

With the event of lockdown efforts Claretians working from Hayes have made efforts to expand the use of technology allowing the work of the Claretians to continue.

At our centre in Hayes, we have initiated the establishment of a Pastoral Centre, making use of the facilities that have been created by the Congregation.

One member of the Hayes community continues to be available to provide workshops and facilitation in support of the members of other religious congregations at home and abroad. While this often took place online, towards the end of the year in person events became more desirable.

The Claretian Oasis

Claretian Missionaries Trust 6

Trustees' annual report 31 December 2022

Activities and specific objectives (continued)

Objectives and aims (continued)

Buckden

During 2022 the trustees were attentive to the impact of Covid-19 on the charity and its effect on income. Whilst the trustees were confident with respect to the long-term ongoing sustainability of its work, they had to make some short-term decisions about the Claret Centre in Buckden and the continued employment of staff in positions where no income was being generated. The trustees continued to monitor events and act where necessary.

Claret Chapel, Buckden

The facilities of our Retreat Centre at Buckden continued to be improved through redecoration and refurbishments throughout 2022 and groups began to slowly return to make use of the facilities.

Some staff were brought on to allow the facilities to gradually open-up, though there was still some hesitancy and uncertainty around the organisation to taking youth away for residential activities.

Leyton

In Leyton, the community maintained operations in the parish as guided by the Diocese.

Overseas activities

The charity has continued to support overseas activities through the contributions sent through the Provincial Procurator in Spain.

Protection of Children and Vulnerable Adults

Like all other organisations who serve in the Congregation, the trustees recognise the absolute necessity of ensuring the protection and safety of all those the charity serves in any way. This means that members engaged in any ministry must obtain clearance from the Disclosure and Barring Service (DBS). The trustees are fully committed to implementing all policies and procedures of the Catholic Safeguarding Standards Agency (CSSA).

Raising funds

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

Claretian Missionaries Trust 7

Trustees' annual report 31 December 2022

Financial review for the year

Results for the year

A summary of the results for the year can be found on page 17 of the attached accounts.

Total income for the year amounted to £611,675 (2021 - £469,613) and included donations and legacies of £191,757 (2021 - £180,401). The total figures include donations of £35,327 (2021 – £24,732) being monies restricted in their use mainly towards supporting the overseas mission work of the Congregation, retired and sick members and training of new members. Income from charitable activities i.e. retreat house income, ministry income and related receipts amounted to £213,741 (2021 – £121,525). The charity generated £151,885 (2021 – £94,706) from the operation of the Claretian Oasis Centre, which opened in the year, offering social and conference facilities in Hayes. The charity received £5,500 (2021 - £36,476) from Historic England towards the restoration of its property in Buckden and funding of £nil (2021 - £3,758) from the Coronavirus Job Retention Scheme.

Expenditure amounted to £648,946 compared to £486,805 in 2021. The costs in relation to operating the retreat centre were £122,252 (2021 – £92,274). The costs in relation to supporting members of the Community and their ministry amounted to £88,274 (2021 – £77,208). Expenditure on the Claretian Oasis Centre amounted to £361,755 (2021 – £203,517). Donations, mainly to the Congregation’s work overseas works, were £62,676 (2021 – £56,043). Further details of these donations are given in note 8 to the attached accounts.

Gains on revaluation of the investment properties held by the charity amounted to £90,000 (2021 – Nil). After taking account of this, there was a net increase in funds of £52,729 (2021 – net decrease of £17,192)

Financial position

The balance sheet shows total funds £3,647,935 (2021 – £3,595,206).

These funds include restricted funds of £166,591 (2021 – £157,308). Further details of these funds are included in note 18 to the accounts.

The tangible fixed assets fund equal to the net book value of the tangible fixed assets amounting to £1,044,072 (2021 – £1,077,109) has been identified as a separate fund in recognition of the fact that such assets are required to enable the charity to carry out its charitable work and are not available to fund activities or meet future commitments. The investment property fund at £960,000 (2021 - £860,000) equals the value of those properties which are rented out at commercial rates and hence are not readily realisable to meet current commitments.

Claretian Missionaries Trust 8

Trustees' annual report 31 December 2022

Reserves policy and financial position (continued)

Financial position (continued)

The unrestricted funds of the charity at 31 December 2022 amounted to £1,487,272 (2021 – £1,500,789) and include funds designated by the trustees for specific purposes amounting to £1,027,453 (2021 – £1,059,847). These funds include funds designated to ensure the charity can fulfil its mission to educate future members and to care for those members who are sick or elderly. Further details of these funds are included in note 21 to the attached accounts. The unrestricted free reserves or general funds of the charity amounted to £459,819 (2021 – £440,942).

Reserves policy

It is the trustees' current policy to retain free reserves (i.e. those unrestricted funds not represented by tangible fixed assets, investment properties and designated for specific purposes or otherwise committed) of between twelve months and eighteen months expenditure on unrestricted funds. This equates to between approximately £208,000 - £625,000.

At 31 December 2022 the free reserves of the charity amounted to £459,819 (2021 – £440,942). The trustees are of the opinion that these are adequate but not excessive.

Going concern

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

The trustees do not expect any material concerns to arise over the charity’s financial position or for the charity’s going concern to be threatened. Therefore, the trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

Future plans

The trustees are committed to continue to invest in the property in Buckden to ensure that repairs and maintenance are undertaken to ensure the facilities are able to safely accommodate people going forward.

Sadly, the Oasis Centre has struggled in the current climate to break even financially and a decision has been taken subsequent to the year end to close its operations.

The trustees will continue to work with their designated safeguarding link to make sure members are aware of their safeguarding responsibilities in the light of the establishment of the Religious Life Safeguarding Service (RLSS) and the Catholic Safeguarding Standards Agency (CSSA), both of which the charity will be looking to align with.

The trustees will initiate regular monthly gatherings of the members to offer an in-person space to help members be aware of what is happening in the organisation.

Claretian Missionaries Trust 9

Trustees' annual report 31 December 2022

Governance, structure and management

Governance

The charity is governed by a trust deed dated 28 September 1912 and amended 25 November 1991. It is registered with the Charity Commission, Charity Registration No. 234026.

Structure and management

The Claretian Missionaries Trust is part of an international religious order divided into separate Provinces and Delegations. Since 2019 the Trust is responsible for the administration of the region of the Province of Fatima located in England. The Province is administered by the Major Superior together with a Council consisting of four other members. The Superior and Council are elected and recognised by the Order's superiors in Rome. The Major Superior identifies the members who will operate as trustees of the charity.

The names of the trustees who served during the year are set out as part of the reference and administrative details on page 1 of this annual report.

No trustee received any remuneration or reimbursed expenses for services as a trustee, nor had any beneficial interest in any contract with the charity, during the year.

The trustees are all members of the Congregation and, as such, are closely involved with the day-to-day work of the members and directly responsible for all major decisions.

Statement of trustees' responsibilities

The trustees are responsible for preparing the trustees' report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that year. In preparing accounts the trustees are required to:

Claretian Missionaries Trust 10

Trustees' annual report 31 December 2022

Governance, structure and management (continued)

Statement of trustees' responsibilities (continued)

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

Key management personnel

The trustees consider that they comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis.

The trustees receive no remuneration or additional reimbursement of expenses in connection with their duties as trustees to the charity. The trustees are all members of the Claretian Missionaries and, as such, their living and personal expenses are borne by the charity.

Risk management

In line with the requirement for trustees to undertake a risk assessment exercise and report on the same in their annual report, the trustees have looked at the risks the charity currently faces and have reviewed the measures already in place, or needing to be put in place, to deal with them.

The key risks for the charity, as identified by the trustees, are described below together with the principal ways in which they are mitigated:

Claretian Missionaries Trust 11

Trustees' annual report 31 December 2022

Governance, structure and management (continued)

Risk management (continued)

Safeguarding (continued)

With the present restructuring, a part time safeguarding officer has been employed with responsibility for ensuring this policy is adhered to in respect to all members, employees and volunteers. This person will work with the trustees to ensure that there is on-going safeguarding training; that internal policies are up to date; and to ensure that members, staff and volunteers are kept informed about good practice in work and ministry.

Having assessed the major risks to which the charity is exposed, the trustees believe that by monitoring reserve levels, by ensuring controls exist over key financial systems, and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks.

The trustees also review a risk management matrix periodically.

Acknowledgements

The trustees wish to record their recognition of the professionalism and commitment of the individual members of the Congregation, and the volunteers who have given their time to the charity within the individual parishes over the past year and who have provided invaluable assistance.

Their dedication and positive approach are much appreciated.

Approved by the trustees of Claretian Missionaries Trust and signed on their behalf by:

Paul Smyth

Trustee

Approved by the trustees on: 27 June 2024

Claretian Missionaries Trust 12

Independent auditor’s report Year to 31 December 2022

Independent auditor’s report to the trustees of The Claretian Missionaries Trust

Opinion

We have audited the accounts of The Claretian Missionaries Trust (the ‘charity’) for the year ended 31 December 2022, which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accounting policies and the notes to the accounts. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the accounts:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the accounts, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the accounts is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.

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

Other information

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

Claretian Missionaries Trust 13

Independent auditor’s report Year to 31 December 2022

Other information (continued)

In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the accounts or a material misstatement of the other information. 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 in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

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

In preparing the accounts, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the accounts

Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.

Claretian Missionaries Trust 14

Independent auditor’s report Year to 31 December 2022

Auditor’s responsibilities for the audit of the accounts (continued)

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

How the audit was considered capable of detecting irregularities including fraud

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

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

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

Claretian Missionaries Trust 15

Independent auditor’s report Year to 31 December 2022

Auditor’s responsibilities for the audit of the accounts (continued)

How the audit was considered capable of detecting irregularities including fraud (continued)

 Investigated the rationale behind significant or unusual transactions.

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

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

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

We did not identify any irregularities, including fraud.

A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and with regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Date 28 June 2024

Buzzacott LLP Statutory Auditor 130 Wood Street London EC2V 6DL

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

Claretian Missionaries Trust 16

Statement of financial activities Year to 31 December 2022

Notes
Un-
restricted
funds
£		 Restricted
funds
£		 2022
Total
funds
£		 Un-
restricted
funds
£		 Restricted
funds
£		 2021
Total
funds
£
Income from:
Donations and legacies
1
Charitable activities
2
Trading activities
3
Historic England restoration project grant
Investments and interest receivable
4
Other income
.. Coronavirus Job Retention Scheme
.. Miscellaneous income
Total income
Expenditure on:
Raising funds
..Investment property expenses
Trading activities
. Claretian Oasis Centre
5
Charitable activities
.. Support of members of the Community
and their ministry
6
.. Retreat and conference centre
7
.. Restoration project - grant related
expenditure
.. Donations payable
8
Total expenditure
Net (expenditure) income before
transfers and losses on investment
properties
Transfers between funds
18
Net (expenditure) income before gains
on investment properties
Gains on revaluation of investment
properties
15
Net movement in funds
Reconciliation of funds:
Funds balances brought forward at
1 January 2022
Fund balances carried forward at
31 December 2022		 156,430
213,741
151,885
—
39,282
—
9,510		 35,327
—
—
5,500
—
—
—		 191,757
213,741
151,885
5,500
39,282
—
9,510		 155,669
121,525
94,706
—
32,747
3,758
—		 24,732
—
—
36,476
—
—
—		 180,401
121,525
94,706
36,476
32,747
3,758
—
570,848 40,827 611,675 408,405 61,208 469,613
4,590
361,755
85,288
121,152
3,893
40,669		 —
—
2,986
1,106
5,500
22,007		 4,590
361,755
88,274
122,258
9,393
62,676		 5,692
203,517
71,219
92,274
1,401
42,043		 —
—
5,989
—
50,670
14,000		 5,692.
203,517
77,208
92,274
52,071
56,043
617,347 31,599 648,946 416,146 70,659 486,805
(46,499)
(55)		 9,228
55		 (37,271)
—		 (7,741)
(928)		 (9,451)
928		 (17,192)
—
(46,554)
90,000		 9,283
—		 (37,271)
90,000		 (8,669)
—		 (8,523)
—		 (17,192)
—
43,446
3,437,898		 9,283
157,308		 52,729
3,595,206		 (8,669)
3,446,567		 (8,523)
165,831		 (17,192)
3,612,398
3,481,344 166,591 3,647,935 3,437,898 157,308 3,595,206

All of the charity’s activities derived from continuing operations during the above two financial periods. Subsequent to the year end, a decision has been taken to close the operations at the Claretian Oasis Centre (see note 25).

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 prepared.

Claretian Missionaries Trust 17

Balance sheet 31 December 2022

Notes
2022
£		 2022
£		 2021
£
2021
£
Fixed assets:
Tangible assets
14
Investment properties
15
Current assets:
Debtors
16
Cash at bank and in hand


Liabilities:
Creditors: amounts falling due
within one year
17
Net current assets
Total net assets
The funds of the charity:
Restricted funds
18
Unrestricted funds:
. Tangible fixed assets fund
19
. Investment property fund
20
. Designated funds
21
. General fund
22



35,417
1,687,088
1,044,072
950,000		 17,077
1,675,066		 1,077,109
860,000
1,994,072
1,653,863		 1,937,109
1,658,097
1,722,505

(68,642)		 1,692,143
(34,046)

1,044,072

950,000
1,027,453

459,819		 1,077,109
860,000
1,059,847
440,942
3,647,935 3,595,206
166,591
3,481,344		 157,308
3,437,898
3,647,935 3,595,206

Approved by the trustees of Claretian Missionaries Trust and signed on their behalf by:

Paul Smyth

Trustee

Approved by the trustees on: 27 June 2024

Claretian Missionaries Trust 18

Statement of cash flows Year to 31 December 2022

Notes 2022
£		 2021
£
(8,977)
32,747
(133,388)
(100,641)
(109,618)
1,784,684
1,675,066
Cash flows from operating activities:
Net cash used in operating activities
A
Cash flows from investing activities:
Investment income received – interest receivable and rental
income
Purchase of tangible fixed assets
Net cash provided by (used in) investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 January 2021

Cash and cash equivalents at 31 December 2021
B		 **(18,268) **
39,282
**(8,992) **
30,290
12,022
1,675,066
1,687,088

Notes to the statement of cash flows for the year to 31 December 2022

A Reconciliation of net movement in funds to net cash used in operating activities

2022
£

52,729
42,029
(90,000)
(39,282)
(18,340)
34,596
(18,268)		 2021
£
(17,192)
43,886
—
(32,747)
13,323
(16,247)
(8,977)
Net movement in funds (as per the statement of financial activities)
Adjustments for:
Depreciation
Gains on revaluation of investment properties
Investment income receivable – interest receivable and rental income
(Increase) decrease in debtors
Increase (decrease) in creditors
Net cash used in operating activities

B Analysis of changes in cash and cash equivalents

At 1
January
2022		 Cash flows
At 31
December
2022
Total cash and cash equivalents:
Cash at bank and in hand		 1,675,066 12,022 1,687,088

No separate statement of changes in net debt has been prepared as there is no difference between the movements in cash and cash equivalents and movement in net debt.

Claretian Missionaries Trust 19

Principal accounting policies 31 December 2022

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

Basis of preparation

These accounts have been prepared for the year to 31 December 2022 with comparative information provided in respect to the year to 31 December 2021.

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

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

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

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

Critical accounting estimates and areas of judgement

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

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

Assessment of going concern

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

Claretian Missionaries Trust 20

Principal accounting policies 31 December 2022

Assessment of going concern (continued)

In the aftermath of Covid-19 and given the current macroeconomic and geopolitical climate the trustees will keep all income and expenditure under review. Whilst there will undoubtedly be challenges ahead, the trustees do not expect concerns to arise over the charity’s financial position. Therefore, the trustees have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

Income recognition

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

Income comprises donations, retreat centre income, ministry income, bank interest, investment property income, grants receivable from Historic England for renovation of the charity’s property, trading income from Claretian Oasis Centre, funding from the government’s Coronavirus Job Retention Scheme and miscellaneous income.

Grants and donations, including salaries and pensions of individual religious received under Gift Aid or deed of covenant, are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations and/or grants pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation or grant is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probably that those conditions will be fulfilled in the reporting period.

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

Income from the operation of the charity’s retreat centre is recognised to the extent that it is probable that the economic benefits will flow to the charity and the revenue can be reliably measured. It is measured as the fair value of the consideration received or receivable excluding any relevant discounts.

Trading income represents the income of the charity’s Claretian Oasis Centre together with rental income from the letting of surplus space within the functional property situated at Buckden. Oasis Centre income includes income from operating a restaurant and bar, together with venue hire and related catering. Trading income is measured as the fair value of the consideration received or receivable excluding any relevant discounts.

Interest income is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest payable by the bank.

Claretian Missionaries Trust 21

Principal accounting policies 31 December 2022

Income recognition (continued)

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

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

Rental income is recognised to the extent that it is probable that the economic benefits will flow to the charity and the revenue can be measured reliably. It is measured at fair value and accounted for on an accruals basis.

Expenditure recognition

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

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follows:

Claretian Missionaries Trust 22

Principal accounting policies 31 December 2022

Expenditure recognition (continued)

Expenditure includes attributable VAT in the instances that it cannot be recovered.

Support and governance costs

Support costs represent indirect charitable expenditure to enable the members to carry out the primary purposes of the charity it is necessary to provide support in the form of financial procedures, provision of office services and equipment and a suitable working environment.

Support costs include governance costs comprising the costs involving the public accountability of the charity (including audit costs) and costs in respect to its compliance with regulation and good practice.

Support costs are apportioned using percentages based on the expenditure incurred on the main activities of the charity.

Tangible fixed assets

All assets costing more than £1,000 and with an expected useful life exceeding one year are capitalised.

Freehold properties used for the direct charitable work of the charity are included in these accounts at deemed cost based on long standing estimates of original cost.

As permitted under FRS 102, the charity has adopted a policy of not revaluing its tangible fixed assets. Tangible fixed assets are stated at an historic valuation which has been taken to be deemed cost under the transitional arrangements of FRS 102.

The charity’s property, a heritage site with scheduled monument status, is depreciated at a rate of 1% per annum on a straight line basis.

Plant and other tangible fixed assets are capitalised and depreciated at the following annual rates in order to write them off over their estimated useful lives:

Other tangible fixed assets which have been fully depreciated are written out of the accounts as their net realisable value is considered to be negligible.

Claretian Missionaries Trust 23

Principal accounting policies 31 December 2022

Freehold investment properties

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

Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

Debtors

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

Cash at bank and in hand

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

Creditors and provisions

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

Fund structure

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

The tangible fixed assets fund represents the net book value of the charity’s tangible fixed assets.

The investment property fund represents the book value of the investment property.

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

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

Claretian Missionaries Trust 24

Principal accounting policies 31 December 2022

Pensions

Contributions in respect of the charity’s defined contribution pension scheme are charged to the statement of financial activities when they are payable to the scheme. The charity’s contributions are restricted to the contributions disclosed in note 12. The charity has no liability beyond making its contributions and paying across the deductions for the employees’ contributions.

Services provided by members of the Congregation

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

Claretian Missionaries Trust 25

Notes to the accounts 31 December 2022

1. Income from: Donations and legacies

Un-
restricted
funds
£
Restricted
funds
£		 2022
Total
funds
£		 Un-
restricted
funds
£
Restricted
funds
£
—
24,732
—
—
—
24,732		 2021
Total
funds
£
Pensions and other
income of individual
religious received
under deed of
covenant
Donations
Collections and
offertory
Legacies
Other amounts
receivable from
parishes
administered by the
charity		 47,163
54,858
29,511
7,540
17,358		 —
35,327
—
—
—		 47,163
90,185
29,511
7,540
17,358		 55,232
56,637
24,275
2,000
17,525		 55,232
81,369
24,275
2,000
17,525
156,430 35,327 191,757 155,669 180,401

2. Income from: Charitable activities

Un-
restricted
funds
£		 Restricted
funds
£		 2022
Total
funds
£		 Un-
restricted
funds
£		 Restricted
funds
£		 2021
Total
funds
£
Retreat house and
related income
Ministry income		 79,500
134,241		 —
—		 79,500
134,241		 23,062
98,463		 —
—		 23,062
98,463
213,741 — 213,741 121,525 — 121,525

3. Income from: Trading activities

Un-
restricted
funds
£		 Restricted
funds
£		 2022
Total
funds
£		 Un-
restricted
funds
£		 Restricted
funds
£		 2021
Total
funds
£
Claretian Oasis Centre
and related income
Rental income		 144,685
7,200		 —
—		 144,685
7,200		 89,133
5,573		 —
—		 89,133
5,573
151,885 — 151,885 94,706 — 94,706

4. Income from: Investments and interest receivable

Un-
restricted
funds
£		 Restricted
funds
**£ **		 2022
Total
funds
£		 Un-
restricted
funds
£		 Restricted
funds
£		 2021
Total
funds
£
Interest receivable
Rental income from
investment properties		 7,372
31,910
—
—
7,372
31,910		 1,321
31,426
—
—
1,321
31,426
39,282
—
39,282		 32,747
—
32,747

Claretian Missionaries Trust 26

Notes to the accounts 31 December 2022

5. Expenditure on: Trading activities – the Claretian Oasis Centre

Un-
restricted
funds
£		 Restricted
funds
£		 2022
Total
funds
£		 Un-
restricted
funds
£		 Restricted
funds
£		 2021
Total
funds
£
Staff costs
Premises costs
Catering costs
Depreciation
Other administration
costs
Allocated support costs
(note 9)		 202,060
9,587
101,889
20,585
6,482
21,152
—

—

—

—
—
—
202,060

9,587

101,889

20,585
6,482
21,152		 94,519
9,534
62,378
20,586
8,028
8,472
—

—

—

—
—
—
94,519

9,534

62,378

20,586
8,028
8,472
361,755
—
361,755		 203,517
—
203,517

6. Expenditure on: Support of members of the Community and their ministry

Un-
restricted
funds
£		 Restricted
funds
£		 2022
Total
funds
£		 Un-
restricted
funds
£		 Restricted
funds
£		 2021
Total
funds
£
Staff costs
Premises
Food and supplies
Living and personal
costs
Travel, visas and motor
expenses
Education and formation
Medical
Allocated support costs
(note 9)		 8,868
4,148
15,728
22,919
10,543
6,164
1,242
15,676		 —
—
—
—
—
2,986
—
—		 8,868
4,148
15,728
22,919
10,543
9,150
1,242
15,676		 —
3,923
10,653
25,830
14,660
—
2,767
13,386		 —
—
—
—
—
5,989
—
—		 —
3,923
10,653
25,830
14,660
5,989
2,767
13,386
85,288 2,986 88,274 71,219 5,989 77,208

7. Expenditure on: Retreat and conference centre

Un-
restricted
funds
£		 Restricted
funds
£		 2022
Total
funds
£		 Un-
restricted
funds
£		 Restricted
funds
£		 2021
Total
funds
£
Staff costs
Premises costs
Food and supplies
Printing, stationery and
telephone
Travel
Allocated support costs
(note 9)		 23,671
65,028
7,296
4,690
3,643
16,824
—

—

1,106
—

—
—
23,671

65,028

8,402
4,690

3,643
16,824		 11,074
55,183
1,846
4,774
3,398
15,999
—

—

—
—

—
—
11,074

55,183

1,846

4,774

3,398

15,999
121,152
1,106
121,152		 92,274
—
92,274

Claretian Missionaries Trust 27

Notes to the accounts 31 December 2022

8. Donations and support of missions

Un-
restricted
funds
£		 Restricted
funds
£		 2022
Total
funds
£		 Un-
restricted
funds
£
Restricted
funds
£
2021
Total
funds
£
Contribution to the
Provincial Administration
of the Claretian
Missionaries, Province of
Fatima, Seville
Contribution to support
the overseas missions of
the Claretian
Missionaries
Other donations		 40,669
—
—		 —
22,007
—		 40,669
22,007
—		 41,384
14,000
659
—

—

—
41,384

14,000

659
40,669 22,007 62,676 41,384
—
41,384

9. Support costs

Un-
restricted
funds
£		 Restricted
funds
£		 2022
Total
funds
£		 Unrestricted
funds
£		 Restricted
funds
£		 2021
Total
funds
£
Audit and professional
fees
Printing, stationery, and
telephone
Depreciation
Other		 21,873
5,103
21,444
5,232
—

—

—

—
21,873

5,103
21,444
5,232		 9,888
3,368
23,300
1,301
—

—

—

—
9,888

3,368

23,300

1,301
53,652
—		 53,652 37,857
—
37,857

Allocated as follows:

Un-
restricted
Funds
£		 Restricted
Funds
£

—

—

—

—		 2022
Total
Funds
£		 Un-
restricted
Funds
£		 Restricted
Funds
£		 2021
Total
Funds
£
Ministry and support of
members of the
Community
Retreat and conference
centre
Claretian Oasis Centre		 15,676
16,824
21,152
53,652		 15,676
16,824
21,152		 13,386
15,999
8,472
—

—

—
13,386

15,999

8,472
53,652 37,857
—
37,857

No costs have been allocated to raising funds or donations, as the costs in relation to these activities are considered to be negligible. All support costs, other than depreciation, are allocated to activities in proportion to direct costs.

Claretian Missionaries Trust 28

Notes to the accounts 31 December 2022

10. Governance costs

Included within support costs are governance costs as detailed below:

Unrestricted funds Unrestricted funds
Total
2022
£

21,873		 Total
2021
£
Professional fees 9,888

11. Net (expenditure) income before gains on revaluation of investment properties

This is stated after charging:

2022
£		 2021
£
Staff costs (note 12)
Auditor’s remuneration (including VAT)
. Statutory audit services – current year
. Statutory audit services – prior year
. Other services (VAT advice) – current year
Depreciation		 234,599
13,800
2,442
2,256
42,029		 105,593
7,488
—
2,400
43,886

12. Staff costs, key management and trustees’ remuneration

Staff costs, key management and trustees’ remuneration
2022
£		 2021
£
Staff costs during the year were as follows:
Wages and salaries
Social security costs
Other pension costs
Redundancy costs
Staff costs per function were as follows:
Retreat and conference centre
Claretian Oasis Centre
Support of members
220,635
7,682
6,282		 95,489
7,768
2,336
234,599
—		 105,593
—
234,599
105,593
23,671
202,060
8,868
11,074

94,519

—
234,599
105,593

Key management

The average number of employees during the year was 12 (2021 – 5).

No employee earned £60,000 (including taxable benefits) per annum or more during the year (2021 – none).

The trustees consider that they comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis.

Certain of the charity's trustees are members of the Congregation in England and consequently their living and personal expenses, all of which are consistent with the amounts paid in respect to other members of the Community, are borne by the charity. No trustee received any remuneration or reimbursement of expenses in connection with their duties as trustees (2021 – none).

Claretian Missionaries Trust 29

Notes to the accounts 31 December 2022

12. Staff costs, key management and trustees’ remuneration (continued)

13. Taxation

Claretian Missionaries Trust is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

14. Tangible fixed assets

Freehold
properties
£		 Building
improvements
£		 Furniture
and
fittings
£		 Computer
equipment
£
Motor
vehicles
£
Total
£
Cost
At 1 January 2022
Additions
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
At 31 December 2022
Net book values
At 31 December 2022
At 31 December 2021		 1,000,000
—
60,923

3,455
125,680
4,494
2,646

1,043
47,556

—
1,236,805

8,992
1,000,000
64,378
130,174
3,689
47,556
1,245,797
60,000
10,000
6,092

6,294
48,817

24,025
529

547
44,258

1,163
159,696

42,029
70,000
12,386
72,842
1,076
45,421
201,725
930,000
51,992
57,332
2,613
2,135
1,044,072
940,000
54,831
76,863
2,117
3,298
1,077,109

The freehold property is included in the accounts at a historic valuation performed in the early 1990’s which has now been defined as deemed cost. As permitted under FRS 102, the charity has adopted a policy of not revaluing its freehold buildings or other tangible fixed assets. Tangible fixed assets are stated at cost or deemed cost in accordance with the transitional arrangements of FRS 102.

It is likely that there are material differences between the open market values of the charity’s freehold land and buildings and their book values. These arise from the specialised nature of some of the properties and the effects of inflation. The amounts of such differences cannot be ascertained without incurring significant cost, which, in the opinion of the trustees, is not justified in terms of the benefits to the users of the accounts.

Claretian Missionaries Trust 30

Notes to the accounts 31 December 2022

15. Investment properties

Investment properties
2022
£		 2021
£
At 1 January 2022
Revaluation gains
At 31 December 2022		 860,000
90,000		 860,000
—
950,000 860,000

Investment properties comprise three residential properties owned by the charity. These are included in the accounts at fair value based on open market value with vacant possession. The valuation has been determined by the trustees, with professional assistance. No information is available of the historic cost of the properties.

16. Debtors

Donations receivable
Trade debtors
Prepayments
Other debtors		 2022
£
18,145
1,447
3,035
12,790
35,417		 2021
£
16,211
—
866
—
17,077

17. Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2022
£		 2021
£
Expense creditors
Tax and social security costs
Deposits received in advance
Pension contributions
Accruals		 2,684
14,990
7,515
13,485
29,968		 6,293
6,634
—
1,631
19,488
68,642 34,046

18. Restricted funds

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

At 1
January
2022
£		 Income
£		 Ex-
penditure
£		 Transfers
£

55
—

—
—

—
—

55		 At 31
December
2022
£

85

163,029

—
—

—

3,477

166,591
Mission fund
Clergy fund
Training fund
Friends of Buckden Tower
fund
Historic England grant fund
Other		 —
157,308
—
—
—
—
22,037

5,721

2,986
500

5,000

4,583
(22,007)


(2,986)
(500)

(5000)

(1,106)
157,308
40,827
(31,599)

Claretian Missionaries Trust 31

Notes to the accounts 31 December 2022

18. Restricted funds (continued)

At 1
January
2021
£		 Income
£		 Ex-
penditure
£		 Transfers
£		 At 31
December
2021
£
Mission fund
Clergy fund
Training fund
Friends of Buckden Tower
fund
Historic England grant fund		 —
149,661
1,976
—
14,194
13,961

7,647

3,124

12,976

23,500
(14,000)

—

(5,989)

(12,976)

(37,694)
39

—

889

—
—
—

157,308

—

—

—
165,831
61,208
(70,659)
928
157,308

The specific purposes for which the funds are to applied are as follows:

This fund represents monies received to send aid to overseas missions for projects, in conformity with the charity’s objectives. The transfer represents expenditure funded from unrestricted funds.

This fund represents funds raised specifically for the sick, retired members of the Clergy through the Diocese of East Anglia’s “Alive in Faith” initiative.

This fund represents funds raised for the training and education of the members of the Claretian Missionaries. The transfer represents expenditure funded from unrestricted funds.

19. Tangible fixed assets fund

Tangible fixed assets fund
2022
£		 2021
£
At 1 January 2022
Movement in year
At 31 December 2022		 1,077,109
(33,037)		 987,607
89,502
1,044,072 1,077,109

The tangible fixed assets fund represents the net book value of the charity’s tangible fixed assets and has been set up in recognition of the fact that the assets are required for the day-to-day work of the charity and are not available to finance current expenditure or meet contingencies.

Claretian Missionaries Trust 32

Notes to the accounts 31 December 2022

20. Investment property fund

This fund represents the carrying value of the charity’s investment properties. The amount has been set aside from the charity’s general funds in recognition of the fact that the assets have been invested for the longer term and will not be available to meet contingencies.

contingencies.
2022
£
860,000
90,000
950,000		 2021
£
At 1 January 2022
Movement in year
At 31 December 2022		 860,000
—
860,000

21. Designated funds

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

At 1
January
2022
£		 Net
movement
£		 At 31
December
2022
£
Pastoral/Apostolic fund
Sick and aged fund
Retreat Centre fund		 85,883
710,855
263,109
—

9,258

(41,652)
85,883

720,113
221,457
1,059,847
(30,988)
1,027,453
At 1
January
2021
£		 Net
movement
£		 At 31
December
2021
£
Pastoral/Apostolic fund
Sick and aged fund
Retreat Centre fund		 85,883
710,622
328,563
—

233

(65,454)
85,883

710,855
263,109
1,125,068
(65,221)
1,059,847

The Pastoral/Apostolic fund has been established to provide a resource from which the Claretian Missionaries can subsidise a ministry that is in accord with their Constitutions and Trust Deed, but which would not keep the personnel appointed to the ministry. It can also be used to pay for resources needed in one of our apostolates. The trustees are actively trying to find new pastoral connections and funds will be used when the new connections are made.

The Sick and Aged Fund exists to provide for the care of retired or sick missionaries, including residential care if needed. Each parish community contributes approximately £3,000 a year towards the fund. As the missionaries are an ageing generation, the funds will be used as required when the missionaries are sick and aged.

The Retreat Centre fund represents the movement of funds relating to the activities carried out at Buckden Towers and the up-keep of the existing maintenance on the site.

Claretian Missionaries Trust 33

Notes to the accounts 31 December 2022

22. Analysis of net assets between funds

Un-
restricted
funds
£		 Tangible
fixed
assets
fund
£
Invest-
ment
property
fund
£
Restricted
funds
£
Designated
funds
£
2022
Total
funds
£
Fund balances at 30
December 2022 are
represented by:
Tangible fixed assets
Investment properties
Net current assets
Total net assets		 —
—
459,819		 1,044,072
**— **
—

950,000
—

—
166,591
—

—
1,027,453		 1,044,072

950,000
1,653,863
459,819 1,044,072
950,000
166,591		 1,027,453 3,647,935
Un-
restricted
funds
£		 Tangible
fixed
assets
fund
£
Invest-
ment
property
fund
£
Restricted
funds
£
Designated
funds
£
2021
Total
funds
£
Fund balances at 30
December 2021 are
represented by:
Tangible fixed assets
Investment properties
Net current assets
Total net assets		 —
—
440,942		 1,077,109
—
—
—

860,000

—
—

—

157,308
—

—
1,059,847		 1,077,109

860,000
1,658,097
440,942 1,077,109
860,000
157,308		 1,059,847 3,595,206

The funds of the charity include unrealised gains on the charity’s investment properties as follows:

2022
£		 2021
£
Unrealised gains at 31 December 2022 included above:
Total unrealised gains on investment properties
Reconciliation of movements in unrealised gains
Unrealised gains at 1 January 2022
Add: losses arising on revaluation arising in the year
Total unrealisedgains at 31 December 2022		 830,014 740,014
740,014
90,000		 740,014
—
830,014 740,014

23. Ultimate control

The charity, which is constituted as a trust, was controlled throughout the period by the Claretian Missionaries by virtue of the fact that the trustees are appointed by the Congregation. The Congregation within the United Kingdom does not hold any assets, incur liabilities or enter into transactions in its own right. Assets and liabilities of the Congregation in the United Kingdom are vested in the trustees of the charity, who undertake all transactions entered into in the course of the Congregation’s charitable activities in the United Kingdom.

Claretian Missionaries Trust 34

Notes to the accounts 31 December 2022

24. Transactions with trustees and related parties

Two of the charity’s trustees are members of the Provincial Council of the Province of Fatima which includes the Congregation’s members based in Portugal, Spain and the United Kingdom. In addition to making a contribution towards the running costs of the Province, the charity makes donations to the Province and to the wider Congregation to support its overseas work (see note 8).

Those trustees who are members of the Provincial Council withdraw from discussions concerning the awarding of such donations.

Amounts donated to the charity by its trustees are disclosed in note 12.

There were no other related party transactions during the year (2021 – none).

25. Post balance sheet events

In March 2024, the trustees took the difficult decision to cease trading at the Claretion Oasis Centre, Hayes and close the restaurant and bar. This decision was based in part on difficulties in building up sufficient bookings and events to enable the Centre to become financially sustainable in the medium to long term.

Claretian Missionaries Trust 35