Charity registratlon numbèr 234026 (England and Wales) CLARETIAN MISSIONARIES TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
CLARETIAN MISSIONARIES TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustegs Father Christopher Newman Father Paul Smyth Father Carlos Candelas Father Manuel Segura Father Phillip Blandford Father Joseph Katthula Father Bijaya Nayak Charity numbèr (England and Wales) 234026 Principal addre5$ The Towers. High Street Buckden. Sl. Neots CambTidgtrshire PE19 STA Audltor KLSA LLP Kalamu House 11 Coldbalh Squa London EC1R SHL Bankers Sanlander UK plc 2 Trilon Squarg Regent's Place London NW1 3AN Sollcltors Stone King LLP Boundary House 91 Charterhouse Street London EC1M 6HR Property Agents Annafield Estates 11 Market Square st Neols PE19 2AR
CLARETIAN MISSIONARIES TRUST CONTENTS Pagg Trustees report Slement of Trusl88s rosponsibilie$ 10 Independent au¢Jilo¢s report Slalemènt ol financial activities 14 Balance sheet 15 Statement of cash flows 16 Notes to the financial statements 17-29
CLARETIAN MISSIONARIES TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual report and financial stsl8ments for Ihe year ended 31 Dec8mber 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document. the Charities A¢t 2011. FRS 102 "The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland" and the Chariliès SORP 'Accounling and Reporting by Charities.. Statement of Recommended Pra¢tl¢e applicable lo charilitrs prèparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" Objectiv0$ and activities Claretian Missionaries also known as 'Missionaries, Sons of the Immaculalts 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 Piu5 Xll on 7 May 1950. From January 2019 the membership in the UK has been linked with members of the Congregation living in Spain and PortU9al, and is known as the Province of Falirna. Tho Claretians have a particular devotion to the Immaculate Hoart ol Mary and, in the words of our Founder, they are lo ba "people aflame with the love of God who spread this firo wherever they go" The wholè world is to be their mission field and Ihey are to make Ihemselves'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 sixly ¢ounlries of the world. They are lo be found in many of the poorest and most under developad parts of the globe. Th8y run parishes, schools. and ¢oll¢ges- they serve as university chaplains.. they work in radio. television and journalism and publishing. Their work is unlimited. In England, while Iheii numbers are few, Ihey give expresslon lo their ministry working from Gommunities based in Haye5 Imiddlesexl.. Leyton (Easl London) and Buckden Icambridgeshirel. In addition lo the parishes, they have responsibility for a retfeal and confgrence centre that Ihgy op8ral8 in their facilities in Buckden The charity's principal aim is the proclamation of the Christian Gospel in word and action as expr8ssetJ in the teaching of the Roman Catholic tradition
CLARETIAN MISSIONARIES TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The charItS Trust Deed slates its princApal objective to be "th8 advancement of the Roman Catholic religion. the educallon of ¢hlldren. for the medical treatment of poor persons and any religious OT charitable work in connection with the Roman Catholic Church." As slated above under'mission" the charitable activities of the Clarèlian Missionaries Trust are undertakèn by the members and can be divided into a number of prinapal areas. Each ol thes8 areas is discussed in furthar detail in the paragraphs which follow In setting the charity's objectives and planning lis activities the Iruslees havg given careful corbsideration lo th& Charity Commission's guidance on public benefit. The charity's aims include.. Supporting Ihe Roman Catholic Church in Ihe UK and Ireland., Promoting awareness and responses to issues of social justice al home and abroad., D Collaborating with other individuals and agencies concèrned wth promoting gospel valuès in our siety- O Providing support and care for people in need., and O Re-organising our own presence lo be better able lo respond lo future need PhiTlosophy and values The Charl$ philosophy is derived from the Christian Gosp81. Members feel called lo contribute to the building of a soclely of luslice and equality. All are encouraged lo ¢ollaborale in the building up of communities which seek lo Care for all people. especially for those in danger of excluslon and being overlooked. The values that lie behind this philosophy are exprèssed in the vows taken by thè mgmb$fship on entering Congregation and joining reli9ious life. Poverty The ideal expressed in this vow is that of living simply and holding all possessions in common. Members have no personal possessions. all reSoUrS are shad and used for the good of each olh8r and the work that the charity commits itself lo do. Celibate chaslily In making a commitment nol to marry or to engage in sexual relationships. members are committing themselves lo be able lo work wherever they are n&d. They are free lo be available and present, offering support and earg when needed by individuals or groups. They ¢ommit themselves lo living in non-èxploitalive respectful relationships that seek the good ol the people with whom they engag&. Obedience With this vow each individual undertakes to give generously of their gifts and talènts in an unselfish way. Through making a commitment for the decisions to be made in common each member strives not lo be individualistic in the way they exercise power and choices. The hope is that power is instead exercised in the service of the greater good and not one's own personal development and aggrandis$menl. Strategles ft•r achlevlng alms and obJe¢llves The charity's Trust Deed slates its principal objecliva to be 'lhe advancement of the Roman Catholic religion, the education of children, for the medical Ireatmenl of poor persons and any religious or charitable work in connection with the Roman Catholic Church.. As stated above under 'Mission" the charitable acti'vities of the Clarelian Missionaries Trust are undertaken by the members and ¢an be divided into a number of principal areas. Each of these areas Is discussed in further detail in the paragraphs which follow.ln setting the charily's obleclives and planning ils a¢tivities the Iruslees have given careful consideration lo the Charity Commission's gLJldance on public bentsfil.
CLARETIAN MISSIONARIES TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Supporting the Roman Catholic Church in the UK and Ireland This particular objective is principally mel through the UKllreland Delegation's responsibility for the pastoral carts of three parishes in England.. Hayes and Leylon in London, and Buckden in Cambridgeshire. The work of the parishes encompasses the normal range of activities found in this country, offering accompaniment to people al significant mom8nls in their lives le.g. birth, marriage, illness, deathl 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 lo particular ethnic communities. The parishes are mullicullural communilles which provide a forum that contributes lo the soGial integration of immigrant groups into British society. In addilion to the parishès, the Retreat and Conference Centre al Buckden and the Clarglian Oasis in Hayes allow the Clarelian Missionaries Trust lo offer a range of fa¢ililies and programmes that ar& used for the benefit of the wider Catholic ¢ommunily. The charily has. al Buckden. extensive retreat and conference facilities designed for both youth and adull retreats with residential a0mMOdation offered. In addition l(> local responsibilities that are aspects of a particular role and appoinlmenl, members are also encouraged lo respond lo invilalions lo support broader pastoral initiatives and will support pilgrimages and retreats in the wider community. One n3ewnbèr also continued to serve as President of the Conference of Religious of England and Wales. Promoting awar•n•ss and rosponsès lo issues of social justice at home and abroad This objective has been mainly Garried out through our commitment to the wider mlssionary work earried out by the Congregation in different parts of the worfd. Any monies raised for different proj8ets are sent through our Mission Procurator in Seville. In the UK the members ol th& charity use th8 opportunities available to them in the parishes and retreat cenlre. to encourage people lo refle¢t upon their responsibility for the environment and the wider community, encouraging Ihern lo use Iheir lime and resources in a responsible manner to help others. Collaborating with other individuals and agencias concerned with promoting gospel values in our society. Networking with othèr agencies and charities working lo promote aims similar lo those of the charity is an important asp8cI 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 lo working with formally recognised agencies the charily encourages th& participation of volunteers and collaborators in the ministry with which the charity is concerned. Providing siipport 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 wilh bereavement or terminal illness. With respect to the finances of the charity there are also resources used lor the health care of the Missionaries who are elderly or have ser¢ous illnesses. The charity seeks lo provide resources for the medical needs of all members but especially those in théir laler years. Rè-organising its presen¢& to bè better abl8 to respond lo futurè neod For the charity lo ¢onlinue ils ability lo fulfil ils mission the Iruslees recognise the need lo allocate resources for both the ongoing prèparab'on of the present membership and also the recruitment and induction of new members. All members oré supported financially from our minlstries and the funds of the Irusl. With the tmendOuS chang¢ that has occuried in society the trustees recognise the need for the membership to re-evaluate their presen and the ways they are working towards fulfilling the objectives of the charity. One aspect being explored is th8 elhnic makeup of our membership. As part on an international organisalion the Iruslees are investigating ways of renewing the membership through the inclusion of mernbers represènting a wider rangè of ethnicities than the traditional Anglo-lrish group that have made up the mernbership 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 Iruslees have been working in collaboralion with Claretian Missionaries based in Spain and Portugal lo explore how w& might be able lo adapt our operating structures as an international organisalion lo ensure the suslainabilily and effectiveness of our continued presence in the UK. Since January 2019 the members of the Clarelian Missionaries in the UK have formed a region of the Province of Fatima which includes Clarelians based in Portugal and the south of Spain whlch includes the Canary Islands Herltago Project In addition to thè work of meellng the objectives of the charity, ownership of Bu¢kd&n Towers, a heritage silts wllh scheduled rnonument slalus, also requires lime and resources. As a property with 2 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 Clarelian Missionaries, buildings that were in ruin have been carefully restored and reclaimed and are now the facility from which the charity's retreat and conlergnee centre op8rate. A maintenance plan is in plÈce which continues lo be irnplementèd, though the issue of how funding might be generated for the major repairs needed on the property will warrant further investigation.
CLARETIAN MISSIONARIES TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Publlc beneflt The Trustees have paid due regard lo guidance issued by the Charity Commission in deciding what activities the charity should undertake. Activities The charity has continued lo support overseas a¢tivities through the contributions sent through the Provincial Procurator in Spain Prote¢tlon of Chlldren and VulnerableAdults Like all olhtrr organisalions who serve in the Congregalion, tho trustees recognise the absolute ne¢essily of ensuring the protection and safely of all those the charity servos in any way. This means that members engaged in any msnistry must obtain clearance from the Disclosure and Barring Service ID8SI. The Iruslees are fully committed lo implementing all policies and proceilures of the Catholic Safeguarding Standards Agency ICSSAI. Ralslng funds The charity aims to achieve b8sl practice in the way in which it communicates wlh donors and other supportels. It takes care with both the lone ol ils oomrnunicalions and the accuracy of ils data lo minimise the pressuros on supporters. 118pplies best practice to protect supporters, data and never s8118 data, il never swaps data and ensures that communi¢alion preferences can be changed al any lime. The charity manages its own fundraising activities and does not employ Ihe services of professional fundraisers. The charity undertakes lo react lo and investigate any complaints regarding ils fundraising activities and lo learn from them and improve its service. During Ihe year, the charity reoeived no mplaIntS about its fundraising activities Achievements and performancè Significant aclivities and achievements againsl objectives Lik8 most oiganisalions the work of the Clarelian Missionaries Trust continued lo be impacted by the Covid situation during 2022. The pastoral centre al Buckden has continuad lo receive groups and during 2023 has also made Its facllilies available lo offer hospitality lo Ukrainian Refugees. With the event of lockdown efforts Clarelians working from Hayès have made efforts lo expand the use of technology allowing the work of the Clarelians lo conlinue.calechelical programmes continue lo be offered with 120 children prepared for their firsl ¢ommunion and 100 participated in the confirmation programme which also included a residential weekend retroal for the ¢andidales.One member of the Hayes community continued to be available lo provide workshops and facililalion in support of the members of other religious congregations at home and abroad until they relocated to the community in Buckden in August 2023.During 2023 the Iruslees were attentive lo the Challenges that needed to be tsvercome relating lo the the impact that Covid-19 had had on the charity and ils Incoffle. Whilst the trustees were confident with resp8ct to the long-lerm ongoing suslainabilily of ils work, they had to make some short-lerm decisions about the Claret Centre in Buckden and the continued employment of siaff in positions where no incom& was being generated. The trustees continued lo monitor events and act where necessary.The facilities of our Retreat Centre al Buckden ¢ontinued to be improved through redecoration and relijrbishmenls throughout 2023 and groups began retuin to make us8 of the facili1185.sorNe staff w8re brought on to allow thè fa¢ililies lo gradually open-up. though there was still some hesitancy and uncertainly around the organisalion lo taking youth away for residential activilies. In Leylon. the community maintained operations in the parish as guided by the Di(>¢ese.
CLARETIAN MISSIONARIES TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Financial review Results for tha year A summary of the results for the year can be found on page 17 of the attached acUnt8. Total income for the year amounled lo £622,286 12022 £611,675) and included donations and lega¢ies of £147,14912022 . £191,757). The total figures in¢lud8 donations of £15,084{2022 £35,327) being rnonies restricted in their use mainly towards supporting the overseas mission work of the Congregation. retired and si¢k members and training of new members. Income frorn ¢haritable activities i.e. relroal house income, ministry income and related receipts amounted to £213,66812022 .. £213,741). The charity generated £200,911 {2C122 .. £151,885} from the operation ol th8 Clarelian Oasis Cenlre, whi¢h opened in the year, offering social and conference facilities in Hayes. The ¢harity raceived £Nil {2022 £5,5001 from Historic England towards the restoration of ils property in Buckden. Expenditure arnounted lo £775,408 compared lo £648,946 in 2022. The costs in relation to operating the retreat centi& were £178,761 {2022 = £122,258). The costs in relation lo supporting members of the Community and IheiF ministry amountèd lo £127,12212022 ." £88.274}. Expenditure on the Clarelian Oasis Centre amDunled lo £407,909 (2022 . £361,755). Donations, rnainly to the Congregation's work overseas works. were £53.90612022 £62,676). Further details of these donaliony are given in note 8 to the attached accounts. Gains on revaluation of the investment properties held by the charity amounted lo £Nil12022 £90.000}. After taklng account of this, there was a nel d8cr8ase in funds of £135,89312022 '. nel increase of £52.729} Financial posStlon The balance sheet shows total funds £3.494,81312022 .. £3,647,935). These funds include reslricled funds ot £164,04412022 £166,591)- Further delai18 of these funds are includtsd In note 18 to the accounts. The tangible fixed assets fund equal lo the net book value of lh8 tangible fixed as58ts amounting lo £1,005.359 {2022 £1,044,072) has been id8nlified as a separate fund in r8cognilion of the fact that such assets are required to enable Ihg charity lo carry out Ils charitable work and are not available lo fund activities or meet future commitments. The investment property fund at £950.000 12022 . £950,000) equals the value of those PTOP8rties which are rented oul al commerclal rates and hence are not readily realisable to meet CUTrenl commilmenls. The unreslri¢ted funds of the chaTlty at 31 December 2023 amounted to £1.375,410 (2022 . £1,487,272) and indude funds designated by the Iruslees for specific purposes amounting lo £945,110 12022 £1,027,453). These funds include funds designated to ensure the tharily can fulfil its mission to educate future embers and to care for those members who are sick or elderly. The unreslricled fretr reserves or general funds of the charity amounted lo £430,300 {2022 .' £459,819}. Going con¢ern The trustees have assessed whether the use ol the going ¢oncern assumption is appropriate in preparing these accounts. The Iruslees have made this ass8s$menl in respect lo a period of al least one year from the dal@ of approval of these accounts. The Irustees do not tsxpect any mateTial concerns to arise over the charity's financial position or for the charity's going concern lo be threatened. Therefore, the trustees are ol the opinion that the charity will have sufFicienl sources lo meet ils liabilities as they fall due.
CLARETIAN MISSIONARIES TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Rès•tves poll¢y 11 is the Iruslees. current policy lo retain free reserves (i.e. those unreslrlcled funds not represented by tangible fixed assets, investment properties and designated for specific purposes or otherwise committed) ol between e1ve months and eighteen months expenditure on unrestricted funds. This equates lo between approximalety £208,000- £625.000. At 31 December 2023 the free reserves of the charity amounted to £430,300 {2022 £459.8191. The Iruslees are of the opinion that these are adequate but not excessive Majorrisks Risk management In line with the requirement for Iruslees lo undertake a risk assessment exercise and report on the same in their annual ieport, the Iruslees have looked al the risks the charity currently laces and have revlewed the measures already in place, or needing lo be pul in place. lo deal with Ihem.The key risks for the charily, as identified by the Irusleés, are described below together with the principal ways in which Ihey are mitigated.. An analy$i8 of the age profile of the members of the Promnce shows that the average age was 63 years. The trustees are aware that there is both a moral and legal obligation lo care for the older membets none of whom have resources of their own. As the age profile increases, so loo does the need to provide care for thè members. Key elements of tho management of this risk are.. lal ensuring that the charity has the vailable finanGial resources to finan¢e this care both now and in the years ahead by salting aside assets in a designated fund, the value of which has been based on actuarial prinaples-, and Ibl ensuring that processes ar6 in place Its review regularly the ministries and needs of individual brothers en¢ouraging those who need il lo take on ltsss demanding ministries and for identifying those who need extra ¢are and help. Safeguarding.- Operationally the chaTlty works with vulnerable adults including older people. The trusltrtrs re¢ognise the absolute necessity of ensuring the protection and safely of all those that the ¢harity serves. Thi8 means that members engaged in any ministry in the UK and all those who work or volunteer for the harity and work with children or vulneiable adults must obtain clearance from the Disclosure and Barring Service IDBSI. The Iruslees are commilled fully to participating in the safeguarding slru¢luie that is presently being created in the Catholic Church aligning the charity with the Catholic Safeguarding Standards Agency ICSSAI and the Religious Life Safeguarding Service IRLSSI. With the present reslrucluring, a part lime safeguarding officer has been employed with responsibility for ensuring this policy is adhered lo in respect lo all members. etnployees and volunteers. This person will work wilh the Iruslees lo ensure that there is on-going safeguarding training,. that internal policies are up lo dalo., and lo ensure that members, staff and volunteers are kept informed about good practice in work and minislry. The charity donates sums in support of the wder Congregation and other organisations. The vast majority of donations sent overseas are lo fund PTojecls administered directly by members of the Congregation. Whether or not the funds are used here in England or elsewhere, the Iruslees always ensurè that they are fully briefed about and familiar with the Work of a potential recipient of funds. Ihal funds are transferred via b8nk transfer, that proof of receipt is obtained and that. wherever possible land always in tho case of monies sent overseasl, a full wrillen port of how the monies have been ulilised and applied is obtained from Ihg re¢ipienl. The charity's princlpal asset ¢omprises ils properties. The charity ensures that these are kept in good order nd that health and safety procedures are followèd. In addition, the charity confim)s that the insuran cover for the properties and for those who visit the property is adequate. Having assessed the major risks to which the charity is exposed, the trustee8 believe that by monitoring reserve levels, by ensuring conlrols exist over key financial systems, and by examining the operational and business risks faced by the charily, they have established effective systems trj miligale those risks.
CLARETIAN MISSIONARIES TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Plans for future periods The Iruslees are committed lo continue to invest in the property in Buckden lo ensure that repairs and maSnlenance are undertaken to ensure the facilities are able lo safely accommodate people golng fOard. Sadly, the Oasis Centre has struggled in the current climate to break even finan¢ially and a decision has been taken subsequent to the year end to close its operations. The trustees will continue to work with their de$lgnated safeguarding link lo make sure mèmb8rs are aware of their safeguarding responsibilities in the light of the establishment ol the Religious Life Safeguarding Service (RLSSI and the Catholic Safeguarding Standards Agency ICSSAI, both of which Ihtr ¢harity will be k)oking to align with. The Iruslees will initiate regular monthly gatherings of the membars to offer an in-ptsrson space to help mèmbers be aware of what is happening in the organlsalion.
CLARETIAN MISSIONARIES TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Structure, govemance and management Clarèlians Missionaries Trust is a charity established and governed by a trust deed dated 28 Sepl8mb@r 1912 and amended 25 November 1991. It is registered with the Charity Commission. Charity Registsalion No. 234026. The Clarelian Missionaries Trust is part of an inlernalion81 religious order divided into separate Provinces and Delegations. sin 2019 the Trust is responsible for th& admlnislralion of the region of the Province of Fatima located in England. The Province is administèred by tha Major Sup81ior logelhgr with a Counal Gonsisling of four other members. The Superior and Council ar8 81ect8d and recognised by Ihg Order's superiors in Rome. The Major Superior identifies the members who will operate as trustees of thè charity. The names of the trustees who served during the year are set out as part of th8 rèf8renc8 and adrninislraliv8 details of this annual report. No trustee reiVed any remuneration or reimbursed expenses for services as a trustee, nor had any beneficial interest in any contract with the charily. during the year. The Iruslees are all members of the Congregation and, as such, are closely involved with the day-lo-day work of the rnembers and directly responsible for all major de¢isions. statement of trustees. responsibilities The Iruslees are responsible for preparing Ihts Iruslees, report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ApIed Accounting PTaclicel. The law applicable lo charities in England and Wales requires the Iruslees lo prepare accounts for each financial year which give a true and fair view of the slate of affairs of the charity and ol the income and expenditure of the charity for that year. In preparing accounts the trustees are requifed lo.. select suitable accounting policies and then apply them consislenlly., observe the methods and principles ofAccounllng and R&porting by Ch8rilies'. Statement of Recommended Practice applicable lo charities preparlng Ihelr accounts in accoidance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102)., make judgements and eslimales that are reasonable and prudent., stale whether applicable United Kingdom Accounting Standards have been followed, subject lo any material departures disclosed and explained in the accounts., prepare the accounts on the going concern basis unlsss il is inappropriate to presume that the charity will continue in operation. The Iruslees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any lime the financial position of the charity and which enable them lo ensure that the accounts comply with the Charities Act 2011, the relevant Charity (Accounts and R8POrts} 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 irregulaiities. Key managementpersonnel The Iruslees wnsider that they Comprise the key management of the charity in charge of directing and controlling, running and operating the Charity on 8 day-to-day basis.The trustees receive no remuneration or additional rtsimbursemenl of expèns8s in connection with their duties as trustees lo the charity. The trLJStees are all mèmb8rs of the Clarelian Missionaries and, as such, their living and personal expenses are borne by Ihe charity The Trustees who served during the year and up to the date of signature of the financiol statements were.. Father Christopher Newman Father Paul Smyth Father Carlos Candelas Father Manuel Segura Father Phllllp Blandford Father Joseph Kallhula Father Bijaya Nayak
CLARETIAN MISSIONARIES TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Recruitment and appointment of trusttès Appointment of Tru$taas The office bearers, the Chairman of the Board of Trustees, the Hon Treasurer and the Hon General Secretary of the Charity are appointed by Ihe Executive Committee. Nominations for new Iruslees are initially considered by The Chairman, following which they are voted upon by Ihe Board of Trustees and only then are formally ratified. All Iruslees glve their time freely. The Iiustees wish to record their recognition of the professionalism and commitment of the Individual members of the Congregatlgn, and the volunteers who have given their lime to the charity within the individual parishes over the past year and who have provided invaluable asslsiance.Their dedIallOn and posiliva approach are much appreclalad. Relationship with related parties Nong of our trustees receive remuneration or othèr b&n&lil from their work with the charity. Any connection beiween a trustee or sanior management of th8 charity with a provider ol seNice, production company, contractor actor, perfomer or exhibitor musl be disclosed lo the ILJII board of trustees in the same way as any other contractual relationship with a related party. In the current year no such related party transactions were reported. The Trustees report was approved by the Board of Trustees. Falher Paul Smyth Trustee 24 Novambar 2025
CLARETIAN MISSIONARIES TRUST STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees are responsible for preparing the Trustees Report and the financial statements in accordancè with applicable law and United Kingdom AccounlSng Standards {United Kingdom Generally ApIed Accounting Praclicel. The law applicable lo charities in England and Wales requires the TTuslees to wepare financial stalemgnls for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resour¢gs and application of resources of the charfty for that year. In preparing these finanual slalemenls, the Trustees are iequired lo.. select suitable accounting policies and then apply them consistently., observe the methods and prlnclples the Charities SORP- make judgements and estimates that are reasonable and prudent.. slate whether applicable accounting standards have been followed, SLJblecl to any material departures dis¢losed and explained in the financial slat8m8nts', and prepare the financial statements on the going ¢oncem basis unless il is inappropriate lo presume that the d)arily will continue in operats'on. The Trusle6s ar8 rasponsible for keeping sufficient accounting records that disclose with reasonablts accuracy al any time the financial position of the charity and enable them to ensure that the linancial slalements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity ar hence for taking reasonable steps for the prevention and detO¢tion of fraud and other irregularities. 10-
CLARETIAN MISSIONARIES TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CLARETIAN MISSIONARIES TRUST Opinion We have audll&d the financial slalemenls of Clarelian Missionaries Trust (the 'charily'l for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial slalemenls, induding significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Repotting Standard 102 The FinanGial Reporting Slandartl applicable in the UK and Republic of Iland {Uniled Kingdom GenerallyAccepled Accounting Practice}. In our opinion, the financial statements.. giva a true and lair view of the stal8 of the charity's affairs as al 31 Do¢8mber 2023 and of ils incoming resources and application of resources. for the year then ended.. have been properiy prepared in accordance with United Kingdom Generally Acceptgd Accounting Practica., and havo been prepared in accordance with the Charib'es Act 2011. Basls for opinion We conducted our audit in a¢cordance with International Standards on Auditing {UKI {ISAs IUKII and applicable law. Our responsibilities under those standards a further described in the Audilorfs r8sponsibililies for the audit of the financffal statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of thè financial statemènts in the UK, including the FRC'S Ethical Standard, and we have fulfilled otjr other ethical responsibilities in accofdance with these requirements. We believe that the audit gvidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stalem8nts, we have concluded that the Tnjstees use of the going concern basis of accounting in thè preparation of th8 financial slalements is appropriate. Based on the work we have performed. we hav6 nol identified any material uncertainlies relating lo events or conditions that, individually or collectively. may cast significant doubl on the charity s ability to continue as a going concern for a period of al least twelv8 months from when the financial statements are aulhorised for issu8. Our responsibilities and the responsibilities of the Trustees with respect lo going wn¢em are described in the relevant sedions of this report. Othèr Infomiation The other informalK)n cornprises the information included in the annu81 report other than the financial slat¢ments and our audilorfs report Ihereon. The Trustees are responsible for the other information contained wilhSn the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form ol assuranc8 condusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whether th8 Other information is materially inconsistent with the flnancial slalemenls or our knowledg8 obtained in the course of the audit, or othenlSe appears lo be materially misstated. If we idenlfy such material Inconsislencjes or apparent material misslalemenls. we are required lo determine whether this gives rise to a material misstalemenl in the financial slalements themselves. If, based on the work we have perfomed. we conclude that there is a material misslalemenl of this other info¥malion, we are requir8d lo report that fact. We have nothing lo report in this regartl. Matters on which we are requlrod to report by èxeeption We have nothing lo report in respect of the following tnatt8rs in relation to which the Charitles {Accounls and Reports) Regulation$ 2008 requires us lo report lo you if, in our opinion.. the infoimalion given in the financial statements is inconsistent in any material respect with the Trustees report., or Sufficient accounting records have not been kept. or the financial statements are not in agreement with the a¢¢ounling records,. or we hav8 nol received all Ihg information and explanations we require for our audit.
CLARETIAN MISSIONARIES TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CLARETIAN MISSIONARIES TRUST R•sponslbilititr$ of Trustees As explained more fully in th8 Statement ol Trustees responsibilitiès, Ihe Trustees are responsible for tho preparation of the financial statements and for being satisfied that they give 8 true and fair v¢ew, and for such inlemal control as the Trustees delermine is n$cessary lo enable the preparation of financial stalernenls that ale free from material misstatement, whether due to fraud or error. In preparing the financial slalemenls. the Trustees re responsible for assessing the charity's ability lo continue as a going COnrn, disclosing, as applicable, mallers related lo going concern and using the going concern basis of accounting unless the Trustèès either intend lo cease operations. or have no realistic alternalive but to do so. Auditor's responsibilitiès for thè audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in a(Lordance with the Act and Ttrlevanl regulations made or having effect Ihereunder. Our objectives are lo obtain reasonable assurance about whether the financial statèm8nts as a whole are free from material misslalemenl, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul 1$ not a guarantee Ihal an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when il exists. Misstalemenls Can arise from fraud or error and are considered material if, indivrdually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on thè basis of these financial statements. The exlenl lo which our Procedures are capable of delecling irregularities, including fraud. is detailed below. A further description of our responsibilities is availabl& on the Financial Reporting Coundl's website al= https'.11 www.frc.org.uklaudilorsresponsibililies. This description forms part of our audilorfs report. Other matters Your attention is drawn lo the fact that the charity has prepared financial slalemenls in accordance wlh "Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing th8ir accounts in a¢¢ordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. las amended) in preference lo the Accounting and Reporting by Charities= Slalement of Recommended Practice issued on 1 April 2005 which is referred to in the exlanl regulations but has now been withdrawn. This has been done in order for the finanaal slalemenls lo provide a true and fair view in accoidan¢e with current Generally Acc6pled Accounting Practi. Use of our report This report is rNade solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities lACunIS and Reports) Regulations 2008. Our audit work has been und8rtaken $0 that we might slate to the charity's Iruslees Ihos9 matters we are required lo slate lo them in an auditor's report and for no other purpose. To the full&yt exlenl permitted by law, we do not accept or assume responsibilily to anyone other than the charity and thg Charity's Iruslees as a body, for our audit work, for this report. or for the opinions we have formed. Harsheel Dodhia {Senlor Statutory Auditor) For and on behalf ol KLSA LLP. Slalulory Auditor Charted A¢¢ounlants Kalamu House 11 Coldbalh Square London EC1R 5HL 24 November 2025 12
CLARETIAN MISSIONARIES TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CLARETIAN MISSIONARIES TRUST KLSA LLP is eligible for appointment as auditor of the charity by virtue of its eligibilily for appointm8nl as auditor of a company under section 1212 of the Gompanles A¢1 2006. 13-
CLARETIAN MISSIONARIES TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestri¢ted Restricted funds funds 2023 2023 Total Unrèstri¢ted Restricted funds funds 2022 2022 Total 2023 2022 Notes Income from= Donations and legaaes Charitable activities 132.065 475.137 15,084 147,149 475,137 156,430 414,418 35,327 5,500 191.757 419,918 Total Income 607,202 15,084 622.286 570,848 40.827 611.675 Expenditure on- Raising funds Charitable activities 4,590 612,757 4.590 644.356 758,576 16,832 775.408 31,599 Total expenditure 758,576 16,832 775,408 617.347 31,599 648,946 Nel gainslllosses} on investments 11 90.000 90.000 Net incomellexpendituro} (151,3741 {1,7481 1153,122) 43,501 9,228 52.729 Transfers between funds 799 {799} 1551 55 Net movement in funds 1150,5751 {2,5471 1153.1221 43,446 9.283 52,729 Reconeiliation af funds.. Fund balances al 1 January 2023 3.481,344 166,591 3,647,935 3,437.898 157.308 3.595.206 Fund balan¢e$ at 31 Deeèmber 2023 3.330,769 164,044 3,494,813 3,481,344 166,591 3.647,935 The statement of financlal 8clivi11&8 in¢ludes all gains and losses recognised in the year. All income and expenditure derive from ¢onllnLJing aclivilies. 14-
CLARETIAN MISSIONARIES TRUST BALANCE SHEET ASAT 31 DECEMBER 2023 2023 2022 Notes Flxèd assets Tangible assets Investment property 13 14 1,005,359 950,000 1.044.072 950,000 1,955,359 1.994,072 Current a$sèts Debtors Cash al bank and In hand 15 35,417 1.687,088 1,606,7L15 1,606,705 1.722.505 Cred5tors: amounts falllng due wlthln one year {67,2511 168,642} Not currènt assets 1.539.454 1,653,863 Total assets les$ current liabilities 3,494,813 3,647.935 The funds of the ¢harlty Reslricled income funds Unreslricled lunds 17 18 164.044 3.330,769 166.591 3,481.344 3,494.813 3.647.935 The finanaal slate ents were approved by the Trustees on 24 November 2025 Father Paul Smyth Trustee 15-
CLARETIAN MISSIONARIES TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Cash flows from opèratlng a¢tivltl¥$ Cash (absorbed byygeneraled from operations 21 180,383} 21.014 Investing activities Purchase of tangible fixed assets {8.9921 Net cash usèd in invasting aetiviti•s {8,992} Not cash generated from financing activities Net Idecreasellincrease in cash and cash equivalents 180,383} 12,022 Cash and ¢Bsh equivalents at beginning of year 1.687.088 1,675,066 Cash and cash equivalents at end of year 1,606,705 1,687.088 16-
CLARETIAN MISSIONARIES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ountlng policies Charity information Claretian Missionaries Trust is a charity established and governed by the Iruslees deed. The registered offi is The Towers, High Street, Buckden, St Neols, Cambrdgeshire PE19 STA 1.1 A¢¢ountlng convention The financial slalements have been prepared in accordance with the ¢harity's governing docurntsnl, the Charities Act 2011, FRS 102 'The Financial Reporting Standard appli¢ab1e in the UK and Republic ol Iraland" and the Charities SORP "Awunling and Reporting by Charitias: Statement of Recommended Practice applicable lo ¢horibes preparing thei¥ accounts in accordance with the Financial Reporting Standard applicable in Ihts UK and Republic of Ireland (FRS 1021 The charity is a Public Benefit Entity as defined by FRS 102. The financial slalemtsnls have departed from the Charities (AUnts and Reports) Regulations 2008 only lo the exlenl required lo piovide a true and fair view. This departure has involved following the Slaternent of Recommended Practice for charilies applying FRS 102 rather than Ihe version of the Slalemenl of Recommended Pra¢lice which is referred lo in the Regulations bul which has since b8en withdrawn. The financial statements are prepared in sterling. which is the functional currtsncy of thè entity The financial stalemants have been prepared under tha hislorical cost convention, Imodilied to include the Tevalualion of freehold properties and lo include investment properties and certain financlal Instruments at fair valuel. The piincipal a¢counting policies adopted are set out below. 1.2 Golng concern Al the lime of approving the financial slalemenls, the TTUStees have a reasonable expectation that tha Charity has adequate restsurces to wntinue in operational existence for the foreseeable future. Thus the Trustees continue lo adopt the going con¢ern basis Df accounting in preparing tha financial slalemenls. 1.3 Charitable fund5 Unreslricled funds are available for use al the dISlI0n of the Trustees in furtheraneé of thèir charitable objecllv8s. Restricted funds are subject lo specifi¢ conditions by donors or grantors as lo how they may be used. The purposes and uses of the reslricled funds are set out in the notes lo the fSnan¢lal ststernenls. 1.4 Income Income is recognised when the charity is legally enlilled lo il after any performance conditions have been met. the amounts can be measured reliably. and il is piobable that income will be received. Cash donations are recognised on recelpl. Other donations are recognised on¢8 the charity has been notified of the donation. unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised al the time of the donation. Legacies are recognised on receipt or otherwise if the charity has betsn notified of an irnpending dislribulion. the amount is known, and receipt is expected. If the amount is not known, the legacy is Irealed as a ¢onlingenl asset. 17-
CLARETIAN MISSIONARIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng poll¢los (Continued) Incoma from Ihe operation of the charily's retreat centre is recognised l() the exlenl that il is probabl8 that the economic benefits will flow lo the charity and the rev&nue can be reliably measured. 11 is measured as the fair value of the eonsideralion ceiVed or receivable excluding any relevant discounts. Trading income r8pr8senls the income of the charills Clarelian Oasis cen together with rental income from the lelling of surplus space within the functional property sllualed al Buckden. Oasis Centre income includes income from operating a restaurant and bar, together with venue hire and related ¢altsring. Trading income is measured as the fair value of the consideration received or rgceivable exduding any relevant discounts Interest income is indudgd whgn receivable and the amount can be measured reliably by Ihe charity., this is normally upon nolificalion ol the inlertssl payable by the bank. Rental income is recognised to Ihe extent that il is probable that the economic benefits will flow lo the charity and the revenue can be measured reliably. 11 is measured al fair value and accounted for on an accruals basis. 1.5 Expendlture Expenditure is recognised once there is a legal or consliuclive obligation lo transfer economic benefit lo a third party, it is probable that a transfer of economic benefits will be r6quired in settlement. and th8 amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The cosls of each activity are made up of the total of direct ¢0sls and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single aetivily are allocated directly lo that actSVity. Shared costs which contribute lo more than one a¢livily and stjpport costs which are not allributable to a single activity are apportioned between those activities on a basis ¢onsislenl with the use of resources. Central staff costs are allo¢ated on the basis of timts spent, and dtsprecialion charges are allocated on the ports.on of the asset's uso. Expenditure on raising funds includes all trxpendilure associated with raising funds for the charity. This includes fees and expenses associated with the management ol thè charity's investment properties. Expenditur8 on charitable activities includès all costs associated with furthering the charitable purposes of the charity through the provision of ils charitable a¢livilies. Such costs include charitable donations and grants. costs in respect lo the support ol members of the Congregation and enabling their ministry. and ¢osls of rLJnning the tharily's relreal cenlre. Expenditure on trading activities includes all ¢osls associated with the day-lo-day running of the ClaTetian Oasis CentrB. Such costs include staff costs, costs of catering. depreciation, and other associated ¢osls of running the ¢enlre Charitable 9ranls and donations are made where the trustees consider there is real need followng a reviaw of the details of each particular case and comprise single year payments lather than mulli-year grants. Grants and donations are in¢luded in the slalemenl of financial a¢livilies when approved for payment. Provision is made for grants and donations approved bul unpaid al the period end. Expenditure includes allributable VAT in the instanS that il cannot be recovered 18-
CLARETIAN MISSIONARIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢eounting policies (Continued) Supw>rt costs represgnt indirect charitable expenditure lo enable the members lo carry out the primary purposes of the Charity it is necessary lo provide SUPPK>rt in the form of financial procedures. provision of office seNices and equipment and a suitable working environment. Support costs rnclude 9ovemance Costs comprising the ¢osls involving the public accountability of the charity (including audit ¢ostsl and costs In respect lo 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. 1.6 Tanglblè fixed assets Tangible fixed as58ts are initially measured at cost and subsequently measured al cost or valuation. net of depreciatson and any impairment losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on Ihe following bases.. Freehold land and buildings Leasehold improvements Fixtures and fittings Computers Motor vehicles 1 % per annum on sliaighl line basis 10Q/• per annum on straight line basis 20°/o per annum on slraighl line basis 200/0 per annum on slraighl line basis 200/0 per annum straight line basis The gain or ltsss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial aclivitigs. As permittsd under FRS 102, the charity has adopted a policy of not revaluing its tangible fixed assets. Tangible fixed assets are stated al an historic valuation which has been taken to be deemed cost under the transitional arrangements of FRS 102. The charity's property, a heritage sile with scheduled monum8nl status. Other tangible fixed assets which have been ful deprecAaled are written out of the accounts as their nel realisable value is considered lo be negligible 1.7 Investmant property Investment properly, which is proporty held lo earn rentals andlor for capital appreciation, is inllially recognised al cost, which indude5 the purchase cost and any directly attributable expèndilure. Subsequently it is measured at fair vaSue at the reporting end dale. The surplus or deficit on revaluation is recognised in profit or loss. Properties held for investment purposes are included in these accounts al fair value based on open market value with vacant possession. The valuation has been dtstermined by th6 trustees, with professional assistance. 1.8 Impaimiènt offixed a$ts At each reporting end date. the ¢h0rily reviews the Carrying amounts of its tangible assets to determine whether there 15 any indication that those assets have suffered an impairment loss. 11 any such indication oxists, the recoverable amount of the asset is eslimaled in order lo determine the exlenl of the impaiimenl loss lif any). 19-
CLARETIAN MISSIONARIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-term liquid invèstments with original maturitie5 of three months or less, and bank overdrafts. Bank ovèrdrafts are shown within borrowings in current liabilities. Cash at bank and in hand represents such accounts and instruments that are available on demand or havg a malurily of less than three months from the date of acquisition. Deposits for more than three monlhs bLJI less than one year have been disclosed as short term deposits 1.10 Flnanclal Instrumènts The charity has elected lo apply the provisions of Section 11 'Baslc Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sh8el when the charity becomes party lo tha contractual provisions of the inslrumenl. Financial assets and liabililies are offset. with the nel amounis prestrnled In the financial slalemenls. when there is a legally enlorceable right lo sel off the recognised amounts and there is an intention lo settle on a not basis or lo ¥ealise the asset and sellle the liability simultan60LJgly. 8asl¢ flnan¢lal assets Basic financial assets, which include deblors and cash and bank balances, are initially measurod al transaction pri including Iransaetion costs and are subsequently carried al amoth'sed cost using the èff@clive interest method unless the arrangement ¢onslilules a financing Iransaclion, where the transaction is measured al the present value of the future recelpls dls¢ounled al a market rale of interest. Financial assets Classified as recoivable within ontr year ar8 nol amortised. Basic financial liabililies Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement constilules a financing Iran5aclion, where the debt instrument is measured al the present value of the future payments discounted al a market rale of interest. Financial liabilities classified as payable within ono year are not amortised. Debt inslrumonls are subsequenlly ¢arrigd al amortised cost, using the effective inleresl rale method. Trade creditors are obligations lo pay for goods or 5erwces that have been acquired in the ordinary course of opèralions from supplièrs. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. TraLfe creditors are recognised initially al transa¢tion price and subsequently measured at amortisgd cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's conlradual obligations expire or are discharged or cancelled. 1.11 Employee btnefit$ The eost of any unused holiday entillemenl is reeoynisèd in the period in which the employee's servicès arg received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed lo terminate the employment of an employee or lo provide taminalion benefits. 20-
CLARETIAN MISSIONARIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Crltlcal accounting e5timat•$ and judgements In the application of the charity's accounting policies, the Trustees are requir8d to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and assoaaled assumptions are based on historical experienco and other factors that are considered to be relevant. Actual results may differ from these eslimales. The estimates and underlying assumptions are rewewed on an ongoing basis. Revisions to accounting estimates are re¢ognised in the period in which the estimate is revised where the revision affects only that period, or in tha p8riod of the revision and future periods where the revision affects both Current and future periods. Income from donations and legacies Unr¢$trlctèd Rgstricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Donations and gifts Legacies Collections and offertory Pensions and other income of indiwdual religious received undèr deed of covenant Other amounts receivable from parishes administered by the Charity 75.033 15,084 90.117 54,858 7,540 29,511 35,327 90.185 7,540 29,511 6,813 6,613 40,639 40,639 47,163 47,163 9,780 9,780 17.358 17.358 132,065 15.084 147.149 156,430 35.327 191,757 21
CLARETIAN MISSIONARIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from charitable activities Unrestrlcled R•stricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Charltable activltles Ministry Income Rglreal hous$ and Related income 126,048 126.048 134.241 134,241 87,620 87,620 79,500 79.500 Tradlng actlvltl•s Clarelian Oasis Centre and related income Charitable rental income 195,$67 5.344 19S,567 5.344 144.685 7.200 144,685 7.200 Investments & Interest receivable Inler8sI receivable 31,534 Rental Income from Investment properties 31,534 7.372 7.372 29,024 29.024 31,910 31.910 Prolact grant Historic England restoration project grant 5,50Q 5,500 Miscelleneous Income Other income 9,510 9,510 475,137 475,137 414,418 5,500 419,918 Expendlture on ralslng funds Unrestricted Unrgstri¢ted funds funds 2023 2022 Fundraising and publicity Investment property expenses 4,590 22-
CLARETIAN MISSIONARIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Exp8nditure on charitable activities Support of Rètrèat and Trading at Donatlons Restoration members Conference Claretian and Support Project Oa51S missions grantèd centre 2023 Total 2023 2023 2023 2023 2023 Dirè¢t costs Staff costs Premises Food and Supplies Living and Personal costs Travel, Vlsas and motor expenses Edu¢ation and Formation Medical Printing, Stationary & Telephone Other adminislralive costs Contribution- Provincial Contribution- Overseas Resloralion Project Deweciation 10,131 11,179 40,758 24,428 41,400 97.339 9.879 247.116 16.510 102,014 298,647 125,028 152,651 24,428 18,851 8,655 2,242 2,372 21.223 8,655 2,242 9,071 9,071 5,176 43.385 10,521 7,710 20.585 5,176 43.385 10,521 7,710 20.585 116,244 160,061 391.401 53,906 7.710 729,322 Sharo of support and governance ¢o$ts Is•0 note 71 Support 10,878 18.700 16.508 46.086 127,122 178,761 407,909 53.906 7.710 775.408 Analysis by fund Unreslricled funds R&stri¢led fLJnds 125,692 1,430 175,880 2,881 407,909 41.385 12.521 7,710 758.576 16.832 127,122 178,761 407.909 53.906 7,710 775,408 -23-
CLARETIAN MISSIONARIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expendltur¢ on ¢haYltablo actlvltlos (Continued} Previous year: Support of Retreat and Trading at Donations Restoration mgmbers Conference Claretian and Support Project Oasis missions granted Centre 2022 Total 2022 2022 2022 2022 2022 Dlrect costs Staff costs Premises Food and Supplles Living and Personal costs Travel. Visas and motor expenses Education and Formallon Medical Printing, Slalionery & Telephone Other adminislralive costs Contribution- Provincial Contribution- Overseas Resloralion Project Depreciation 8,868 4,148 15,728 22,919 23,671 65.028 8.402 202,060 9,587 101.889 234.599 78.763 126,019 22.919 10,543 9,150 1,242 3,643 14.186 9,150 1,242 4,690 4.690 6,482 40,669 22,007 9,393 20.585 6.482 40,669 22.007 9,393 20.585 72.598 105,434 340,603 62,676 9,393 590,704 Share of support and governance costs Ise• note 71 Support 15,676 16,824 21.152 53,652 88,274 122,258 361,755 62,676 9,393 644,356 Analysis by fund Unrestricted funds Restricted funds 85,288 2,986 121,152 1,106 361,755 40,669 22.007 3,893 5.500 612,757 31.599 88.274 122.258 361.755 62,676 9,393 644,356 24-
CLARETIAN MISSIONARIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support costs allocated to a¢tivitios 2023 2022 Depreclation Prinling,slalionery and telephone Other Depreciation (direct costs) Audit and Professional fees 38,714 5,803 14,655 {20,5861 7,500 42,029 5,103 5,232 120,5851 21.873 46,086 53,652 Analysed between- Support ol members Retreat & Conference Trading al Claretian Oasls Centr8 10,878 18,700 16,508 15,676 16,824 21.152 46,086 53,652 Net movement In funds 2023 2022 The nel movement in funds is slated after d)argingll¢rediling}'. Fges payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets 7,500 38.714 21,873 42,029 Truslees None of the Trusltstrs (or any persons connected with them) received any remuneration or benefits from the charity during the ygar. 10 Employees Thg average monthly number of employe8s during the ygar was.. 2023 Number 2022 Number 17 Employment costs 2023 2022 Wages and salaries 298,647 234.599 There were no employ88s whose annual remuneration was more than £60,000. -25-
CLARETIAN MISSIONARIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Gains and losses on investments Unrestricted Unrestricted funds funds 2023 2022 Gainslllosses} arising on.. Rèvaluation of inveslmenl properties 90.000 12 Taxatlon The charity is exempl from laxalion on ils aclwilies because all its incom8 is applied for ¢h8rilable purposes. 13 Tangible fixed assets Freehold land Léasehold Flxtur8s and and buildiny$ Improvements flttlngs Computer5 Motor vehicles T•tal Cost Al 1 January 2023 1,000,000 64.378 130.175 3.689 47.556 1,245,798 Al 31 Decgmber 2023 1,000.000 64,378 130,175 3,689 47.556 1.245.798 Depreciation and impairment At 1 January 2023 Depreciation charged in tha year 70,000 12,386 72,842 1,076 45.421 201,725 10,000 6.438 20,374 738 1,164 38,714 Al 31 December 2023 80,000 18.824 93,216 1.814 46,585 240.439 Carrylng amount Al 31 December 2023 920,000 45.554 36,959 1.875 971 1,005.359 At 31 December 2022 930,000 51,992 57,332 2,613 2,135 1,044,072 14 Inv8stm8nt property 2023 Falr valuè Al 1 January 2023 and 31 December 2023 950.000 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 assistan. No information is available ol the historic cost of the properties. -26-
CLARETIAN MISSIONARIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 15 Debtors 2023 2022 Amounts falllng duo wlthln one ygar: Trad8 d8blors Olher deblors Prepayments and accrued income 1,447 30.935 3.035 35,417 16 Creditors: amounts falling due within one year 2023 2022 Other tsxalion and soclal se¢urKy Tr8dg creditors Other credilors Accruals and deferred income 59.751 28.475 2.684 7.515 29.968 7.500 67,251 68,642 17 Restrlcted funds The reslricled funds of the charity comprise the unexpended balancès of donations and grants held on trust subject lo specific conditions by donors as lo how they may be used. At 1 January 2023 Incoming resources Resources expended Tran$f&rs At31 Dèc•mbar 2023 Mission fund Clergy fund Training fund Othèr 85 163.029 13,654 112,5211 {7991 419 163.029 1,430 11,4301 12,8811 3.477 596 166,591 15,084 116,8321 {7991 164,044 27-
CLARETIAN MISSIONARIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 17 R*strlcted funds {Contlnuèdl Prevlous y•ar: At 1 January 2022 Incomlng rasourcas Resources expended Transfers At31 Dè¢èmb&r 2022 Mission fund Clergy Fund Training Fund Friends ol Buckden Tower fund Historic England grant fund Other 22,037 5,721 2,986 500 5,000 4,583 122,0071 85 163,029 157.308 12,9861 {500} 15,000} 11,106} 3.477 157.308 40,827 131,599} 55 166,591 18 Unrestricted funds The unr&slricled funds of the charity cornprise Ihe unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These include designated funds which have been sel aside out of unrestricted funds by the Iruslees for specific purposes. At 1 January 2023 Incoming rèsources Resources expended Transfors Galns and At31 Doc•mbèr 2023 General funds 3,481.344 607,202 1758,5761 799 3,330,769 Previous yèar: At 1 January 2022 Incoming resourcès Resourcas èxpended Transfors Gains and losses At31 Decernber 2022 General fvnds 3,437.898 570,848 {617,3471 155) 90,IX)O 3,481.344 19 Analysis of net as$et$ bètween funds Unrèstricted funds 2023 Restricted fund$ 2023 Total 2023 At 31 Dècèmber 2023: Tangible assets Investment properties Current asselsllliabilitiesl 1,005,359 950,000 1,375,410 1.005.359 950,000 1,539,454 164,044 3,330,769 164,044 3.494.813 -28-
CLARETIAN MISSIONARIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 Analys1$ of net ass*ts bètwe•n funds (Continued} Unrestricted funds 2022 Rastrlcted funds 2022 Total 2022 At 31 December 2022: Tangible assets Inv881menl prop8rties Current assetsl{liabilitiesl 1.044,072 950,000 1.487,272 1.044,072 950,000 1.653,863 166.591 3,481,344 166.591 3.647,935 20 Related party transactlons There were no disclosabl& rèlated party Iransaclions during the year {2022- none). 21 Cash {absorbed byllgenerated from operation$ 2023 2022 (Deficilysurplus for the year (153,1221 52,729 Adjustmènts for.. Fair value gains and losses on investment properties Depreciation and impairment ol tangible fixed assets 190.0001 42,029 38,714 Movements in working capital: Decreasellincreasel in debtors (Decreasellincrease in ¢redilors 35,417 {1.3911 118.340} 34,596 Ca$h (absorbed by)Igenerated from operations {80.3821 21,014 22 Analysls of changes In net funds The charity had no material debt during the year. -29-