**Charity registration number 234026 (England and Wales)** ## **CLARETIAN MISSIONARIES TRUST** **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **CLARETIAN MISSIONARIES TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Father Christopher Newman|| |---|---|---| ||Father Paul Smyth|| ||Father Carlos Candeias|| ||Father Manuel Segura|| ||Father Phillip Blandford|| ||Father Joseph Katthula|| ||Father Bijaya Nayak|| ||Raju Katthula|| ||Phillip Blandford|| ||Jose Enrique Garcia Rizo|(Appointed 2 February 2026)| ||Jorge Ramon Sanchez Palacios|(Appointed 2 February 2026)| ||M J O Carrera|(Appointed 2 February 2026)| |**Charity number (England and Wales)**|234026|| |**Principal address**|The Towers, High Street|| ||Buckden. St. Neots|| ||Cambridgeshire|| ||PE19 5TA|| |**Auditor**|KLSA LLP|| ||Kalamu House|| ||11 Coldbath Square|| ||London|| ||EC1R 5HL|| |**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** ## **CONTENTS** ||**Page**| |---|---| |Trustees report|1 - 10| |Statement of Trustees responsibilities|11| |Independent auditor's report|12 - 13| |Statement of 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 2024**_ The Trustees present their annual report and financial statements for the year ended 31 December 2024. 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 Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 UK and Republic of Ireland (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. The Congregation continues the missionary vision of its founder whose desire was that its members be “people aflame with the love of God who spread this fire wherever they go.” Today the Congregation numbers more than 3,000 members working in over sixty countries across the world. In the United Kingdom the Claretian Missionaries serve through communities based in Hayes (Middlesex), Leyton (East London) and Buckden (Cambridgeshire). In addition to parish ministry the charity operates retreat and conference facilities at Buckden Towers which support the wider mission of the Church and provide a venue for spiritual formation, meetings and community events. Since January 2019 the Claretian Missionaries in the United Kingdom have been part of the Province of Fatima, which includes members based in Spain and Portugal. - 1 - ## **CLARETIAN MISSIONARIES TRUST** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **Constitution** Claretians Missionaries Trust is a charity established and governed by a trust deed dated 28 September 1912 and amended on 25 November 1991. The charity is registered with the Charity Commission (Charity Registration No. 234026). ## **Mission** The principal aim of the charity is the proclamation of the Christian Gospel in word and action in accordance with the teaching of the Roman Catholic Church. The charity pursues this aim through: - ￿ Supporting the Roman Catholic Church in the United Kingdom and Ireland. - ￿ Promoting awareness and responses to issues of social justice at home and abroad. - ￿ Collaborating with other individuals and agencies concerned with promoting Gospel values in our society. - ￿ Providing support and pastoral care for people in need. - ￿ Ensuring the sustainability and development of the charity's mission and ministries. ## **Values and Philosophy** The philosophy of the charity is rooted in the Christian Gospel and in the missionary charism of St Anthony Mary Claret. Members of the Congregation seek to contribute to the building of a society marked by justice, compassion and solidarity. The values guiding the life and work of the Congregation are expressed through the religious vows taken by its members. Poverty – Members commit themselves to living simply and sharing resources in common for the benefit of the mission. Celibate Chastity – Members dedicate themselves fully to the service of the Gospel and to relationships that promote respect, care and pastoral availability. Obedience – Members offer their talents generously and collaborate in shared decision-making so that their work serves the common good. ## _**Strategies for achieving aims and objectives**_ 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. - 2 - ## **CLARETIAN MISSIONARIES TRUST** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **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 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. 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 ## **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. - 3 - ## **CLARETIAN MISSIONARIES TRUST** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **Public benefit** The Trust Deed states that the charity exists for the advancement of the Roman Catholic religion, the education of children, the medical treatment of poor persons and any charitable work connected with the Roman Catholic Church. 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. ## **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 ## Safeguarding The trustees recognise the absolute necessity of ensuring the protection and safety of all those who come into contact with the charity’s ministries and facilities. Members engaged in pastoral work obtain the appropriate safeguarding clearances through the Disclosure and Barring Service (DBS). The charity aligns its safeguarding policies with the standards of the Catholic Safeguarding Standards Agency (CSSA) and the Religious Life Safeguarding Service (RLSS). - 4 - ## **CLARETIAN MISSIONARIES TRUST** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **Review of Activities 2024** During 2024 the Claretian Missionaries Trust continued to pursue its charitable objectives through parish ministry, pastoral initiatives, retreat and conference activities and collaboration with other organisations. The trustees supported the work of the Claretian communities in Hayes, Leyton and Buckden. These communities contribute to the pastoral life of the Catholic Church and offer support to individuals and families through spiritual guidance, sacramental preparation and community outreach. ## Hayes The Claretian community in Hayes continued to provide pastoral ministry within the parish and wider community. Parish life remained active with regular liturgical celebrations, sacramental preparation programmes and pastoral support offered to parishioners. Catechetical programmes remained an important part of parish life with children and young people preparing for the sacraments of First Holy Communion and Confirmation. These programmes encouraged participation from families and provided opportunities for spiritual formation and community involvement. ## Leyton At St Joseph’s Parish in Leyton the Claretian community continued to serve a vibrant and multicultural parish community. The parish offers a welcoming environment for people from a wide range of cultural and national backgrounds. Parish activities included sacramental preparation, pastoral visits and support for parish groups and ministries. Members of the community also worked closely with local schools and diocesan initiatives. ## Buckden Buckden Towers continues to play a central role in the activities of the charity as both a historic heritage site and the location of the Claretian retreat and conference centre. Buckden Towers is a site of significant historical importance with origins dating back to the medieval period and references to the Domesday Book. Parts of the property are recognised as a scheduled monument and the site is acknowledged by heritage authorities as being of national historic significance. The trustees therefore recognise their responsibility not only to maintain the buildings for current use but also to preserve the architectural and historical integrity of the site for future generations. During 2024 the trustees continued to invest in maintaining and improving the facilities to ensure they remain safe and welcoming for visitors. The retreat centre hosted parish groups, schools and community organisations throughout the year. Efforts were made to broaden the use of the facilities through the development of partnerships with local organisations. A notable initiative was the development of “Shakespeare at the Towers”, a collaboration designed to host cultural events within the historic setting of Buckden Towers. The initiative aims to enrich the cultural life of the community while contributing to fundraising for the ongoing maintenance and preservation of the property. ## Overseas Activities The charity continues to support the wider missionary work of the Claretian Congregation throughout the world. Funds raised in the United Kingdom are sent through the Provincial Procurator in Spain to assist with pastoral and social projects in countries where the Claretians serve. - 5 - ## **CLARETIAN MISSIONARIES TRUST** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **Financial review** The trustees monitor the financial performance of the charity carefully throughout the year to ensure that resources are used responsibly in support of the charity’s objectives. Income is generated primarily through parish activities, donations, retreat centre use and other charitable activities. Expenditure is directed towards supporting pastoral ministry, maintaining properties, caring for members of the Congregation and supporting overseas mission projects. The trustees are satisfied that the charity’s financial position remains stable and that sufficient reserves are maintained to support ongoing operations. ## Results for the year A summary of the results for the year can be found on page 14 of the attached accounts. Total income for the year amounted to £510,829 (2023 :£622,286) and included donations and legacies of £123,398 (2023 : £147,149). The total figures include donations of £60,563 (2023 : £15,084) 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 £282,116 (2023 : £213,668). The charity generated £32,877 (2023 : £200,911) from the operation of the Claretian Oasis Centre, which opened in the year, offering social and conference facilities in Hayes. The charity received £Nil (2023 ; Nil) from Historic England towards the restoration of its property in Buckden. Expenditure amounted to £579,116 compared to £775,408 in 2023. The costs in relation to operating the retreat centre were £220,471 (2023 : £178,761). The costs in relation to supporting members of the Community and their ministry amounted to £154,389 (2023 :£127,122). Expenditure on the Claretian Oasis Centre amounted to £146,854 (2023 :£407,909). Donations, mainly to the Congregation’s work overseas works, were £52,175 (2023 :£53,906). 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 £Nil (2023 : £Nil). After taking account of this, there was a net decrease in funds of £68,287 (2023 : £153,122) ## Financial position The balance sheet shows total funds £3,426,526 (2023 :£3,494,813). These funds include restricted funds of £211,116 (2023 :£164,044). Further details of these funds are included in note 17 to the accounts. The tangible fixed assets fund equal to the net book value of the tangible fixed assets amounting to £972,395 (2023 :£1,005,359) 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 £950,000 (2023 :£950,000) equals the value of those properties which are rented out at commercial rates and hence are not readily realisable to meet current commitments. The unrestricted funds of the charity at 31 December 2024 amounted to £1,293,015 (2023 : £1,375,410) and include funds designated by the trustees for specific purposes amounting to £875,345 (2023 : £945,110). 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. The unrestricted free reserves or general funds of the charity amounted to £417,670 (2023 : £430,300). - 6 - ## **CLARETIAN MISSIONARIES TRUST** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **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. ## **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 2024 the free reserves of the charity amounted to £417,670 (2023 : £430,300). The trustees are of the opinion that these are adequate but not excessive - 7 - ## **CLARETIAN MISSIONARIES TRUST** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **Major risks** ## _**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: - An analysis of the age profile of the members of the Province shows that the average age was 63 years. The trustees are aware that there is both a moral and legal obligation to care for the older members none of whom have resources of their own. As the age profile increases, so too does the need to provide care for the members. Key elements of the management of this risk are: (a) ensuring that the charity has the available financial resources to finance this care both now and in the years ahead by setting aside assets in a designated fund, the value of which has been based on actuarial principles; and (b) ensuring that processes are in place to review regularly the ministries and needs of individual brothers encouraging those who need it to take on less demanding ministries and for identifying those who need extra care and help. - Safeguarding: Operationally the charity works with vulnerable adults including older people. The trustees recognise the absolute necessity of ensuring the protection and safety of all those that the charity serves. This means that members engaged in any ministry in the UK and all those who work or volunteer for the charity and work with children or vulnerable adults must obtain clearance from the Disclosure and Barring Service (DBS). The trustees are committed fully to participating in the safeguarding structure that is presently being created in the Catholic Church aligning the charity with the Catholic Safeguarding Standards Agency (CSSA) and the Religious Life Safeguarding Service (RLSS). 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. - The charity donates sums in support of the wider Congregation and other organisations. The vast majority of donations sent overseas are to fund projects administered directly by members of the Congregation. Whether or not the funds are used here in England or elsewhere, the trustees always ensure that they are fully briefed about and familiar with the work of a potential recipient of funds, that funds are transferred via bank transfer, that proof of receipt is obtained and that, wherever possible (and always in the case of monies sent overseas), a full written report of how the monies have been utilised and applied is obtained from the recipient. - The charity's principal asset comprises its properties. The charity ensures that these are kept in good order and that health and safety procedures are followed. In addition, the charity confirms that the insurance 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 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. ## **Plans for future periods** The trustees remain committed to ensuring the sustainability of the charity’s ministries and properties. Future plans include continued investment in the maintenance and preservation of Buckden Towers, further development of partnerships that enable the site to serve both the Church and the wider community, and ongoing support for the pastoral work of the Claretian communities in Hayes and Leyton. The trustees will also continue to ensure that safeguarding standards are maintained and that the charity remains responsive to the pastoral needs of the communities it serves. - 8 - ## **CLARETIAN MISSIONARIES TRUST** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **Structure, governance and management** The charity is governed by a trust deed dated 28 September 1912 and amended 25 November 1991. The trustees are members of the Claretian Missionaries and are responsible for the overall governance, strategic direction and financial management of the charity. The trustees work closely with members of the Congregation involved in the day-to-day ministries of the charity. The names of the trustees who served during the year are set out as part of the reference and administrative details 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. ## _**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: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of 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 (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; - prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 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 The Trustees who served during the year and up to the date of signature of the financial statements were: Father Christopher Newman Father Paul Smyth Father Carlos Candeias Father Manuel Segura Father Phillip Blandford Father Joseph Katthula Father Bijaya Nayak Raju Katthula Phillip Blandford Jose Enrique Garcia Rizo (Appointed 2 February 2026) Jorge Ramon Sanchez Palacios (Appointed 2 February 2026) M J O Carrera (Appointed 2 February 2026) - 9 - CLARETIAN MISSIONARIES TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Recrultm?nt and appolntm•nt of I￿$t0•* Appolntm•nt of Trusteos The office bearers. the Chairman of the Board of Twstees. the Hcffi TreaSu￿r and the Hon Gènèral Secretary of the Charity are 8ppolnted by the Executivé cc4mlrt￿. NO￿nationS for new trustèes are initialty consi¢Jered by The Chairman, fr￿10¥￿ng vA)Ich they are voted upon by I￿ Board ofTNstees and ontv Ihen are formalty rdlrfied. All trustees glve their time freety. The Irust888 wish lo r8(y)rd theiT rec0sf1((￿ of the wofeS￿cfflalL$rn and ¢ommitm8nl of the individual members of th& Ccfflgregation, and th8 volunteers wl¥) have ￿¥¢n time to the ch￿lty within the Individual parishes ovar the past year and who have provided invaluable 8s$islance.Their dedicaticn and posltlve approach ar& much appr8ci81•d. R•latlon•hlp wlth rglatgd partles None of our trustees receive remunerati￿ other benefft from their w0￿wIlh the charity. Any (x)nne¢tv)n be￿een o twstee or senior managèm8nt of the rt￿rIty wtth a Fxowder of service. produd>on company, ￿l￿raCtor actor. performer or exhibitor must bo dis¢losed lo the full board of truste&s in th8 same way as any other (£JntracbJal relatlon$hlp with a related party. In the ¢urrent year no $u¢h relatèd paty Iransaction5 were reported. TheT tees report was appToved by th8 Board of Tnjslees. Falher Chrfslopher Newm8n Trust•• 27 August 2026 10- ## **CLARETIAN MISSIONARIES TRUST** ## **STATEMENT OF TRUSTEES RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ The Trustees are responsible for preparing the Trustees Report and the financial statements 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 financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements 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 and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 11 - ## **CLARETIAN MISSIONARIES TRUST** ## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CLARETIAN MISSIONARIES TRUST** ## **Opinion** We have audited the financial statements of Claretian Missionaries Trust (the ‘charity’) for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. 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 financial statements: - give a true and fair view of the state of the charity’s affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information 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 accounting records; or - we have not received all the information and explanations we require for our audit. - 12 - ## **CLARETIAN MISSIONARIES TRUST** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CLARETIAN MISSIONARIES TRUST** ## **Responsibilities of Trustees** As explained more fully in the statement of Trustees responsibilities, the Trustees are responsible for the preparation of the financial statements 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 financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to cease operations, or have no realistic alternative but to do so. ## **Auditor's responsibilities for the audit of the financial statements** We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. ## **Other matters** Your attention is drawn to the fact that the charity has prepared financial statements 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 UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice. ## **Use of our report** This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. 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. ## **Harsheel Dodhia (Senior Statutory Auditor)** For and on behalf of KLSA LLP, Statutory Auditor Chartered Accountants Kalamu House 11 Coldbath Square London EC1R 5HL 27 August 2026 KLSA LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. - 13 - ## **CLARETIAN MISSIONARIES TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
62,835
60,563
Charitable activities
**4**
387,431
-
**Total income**
450,266
60,563
**Expenditure on:**
Charitable activities
**5**
564,513
14,603
**Total expenditure**
564,513
14,603
**Net income/(expenditure)**
(114,247)
45,960
Transfers between
funds
(1,112)
1,112
**Net movement in**
**funds**
**7**
(115,359)
47,072
**Reconciliation of funds:**
Fund balances at 1 January
2024
3,330,769
164,044
**Fund balances at 31**
**December 2024**
3,215,410
211,116|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
123,398
132,065
15,084
387,431
475,137
-
510,829
607,202
15,084
579,116
758,576
16,832
579,116
758,576
16,832
(68,287)
(151,374)
(1,748)
-
799
(799)
(68,287)
(150,575)
(2,547)
3,494,813
3,481,344
166,591
3,426,526
3,330,769
164,044|**Total**
**2023**
**£**
147,149
475,137
622,286
775,408
775,408
(153,122)
-
(153,122)
3,647,935
3,494,813| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 14 - CLARETIAN MISSIONARIES TRUST BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 Flxed assots Tangible assets Investment property 11 972.395 950.000 1.005.359 950,(NJO 1.922.395 1,955,359 Current a8￿ts Cath 8t bgnk and in harKI 1.540.993 1.606,705 Cr•dltOT8: amounts falllng du• wlthln on• yéar 13 (36,8621 {67.251) Net current asa•ts 1.SJ4.131 1,539.454 Total assots loss curr•nt1S•bllltl 3.426.526 3.494.813 Th• funds ofthe ch¥rlty Restricted funds Unrestricted ft￿￿$ 15 16 211.116 3215,410 1&4.044 3,330,769 3,426,526 3,494.813 Th financial staltmènts wèré apwovgj byth& Tntste6s on 27 h￿gU5t 2026 Father Christopher Newman Tru¥t•• 15- ## **CLARETIAN MISSIONARIES TRUST** ## **STATEMENT OF CASH FLOWS** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ |**Notes**
**Cash flows from operating activities**
Cash absorbed by operations
**19**
**Investing activities**
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Net cash generated from financing activities**
**Net decrease in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2024**
**£**
**£**
(58,768)
(6,945)
(6,945)
-
(65,713)
1,606,705
1,540,993|**2023**
**£**
**£**
(80,383)
-
-
-
(80,383)
1,687,088
1,606,705| |---|---|---| - 16 - **CLARETIAN MISSIONARIES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **1 Accounting policies** ## **Charity information** Claretian Missionaries Trust is a charity established and governed by the trustees deed. The registered office is The Towers, High Street, Buckden, St Neots, Cambrdgeshire PE19 5TA ## **1.1 Basis of preparation** The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the entity The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once 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 Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 17 - ## **CLARETIAN MISSIONARIES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **1 Accounting policies** ## **(Continued)** 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. 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. ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit 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. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. Expenditure on raising funds includes all expenditure associated with raising funds for the charity. This includes fees and expenses associated with the management of the charity’s investment properties. Expenditure on charitable activities includes all costs associated with furthering the charitable purposes of the charity through the provision of its charitable activities. Such costs include charitable donations and grants, costs in respect to the support of members of the Congregation and enabling their ministry, and costs of running the charity’s retreat centre. Expenditure on trading activities includes all costs associated with the day-to-day running of the Claretian Oasis Centre. Such costs include staff costs, costs of catering, depreciation, and other associated costs of running the centre Charitable grants and donations are made where the trustees consider there is real need following a review of the details of each particular case and comprise single year payments rather than multi-year grants. Grants and donations are included in the statement of financial activities when approved for payment. Provision is made for grants and donations approved but unpaid at the period end. Expenditure includes attributable VAT in the instances that it cannot be recovered - 18 - ## **CLARETIAN MISSIONARIES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **1 Accounting policies** ## **(Continued)** 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. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and buildings 1% per annum on straight line basis Leasehold improvements 10% per annum on straight line basis Fixtures and fittings 20% per annum on straight line basis Computers 20% per annum on straight line basis Motor vehicles 20% per annum straight line basis The gain or loss 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 activities. 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. 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 ## **1.7 Investment property** Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. 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. ## **1.8 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). - 19 - ## **CLARETIAN MISSIONARIES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **1 Accounting policies** ## **(Continued)** ## **1.9 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 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 ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. - 20 - ## **CLARETIAN MISSIONARIES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the Trustees are required 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 associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Income from donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Donations and gifts
7,625
60,563
Collections and offertory
3,619
-
Pensions and other
income of individual
religious received under
deed of covenant
20,420
-
Other amounts receivable
from parishes
administered by the
Charity
31,171
-
62,835
60,563|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
68,188
75,033
15,084
3,619
6,613
-
20,420
40,639
-
31,171
9,780
-
123,398
132,065
15,084|**Total**
**2023**
**£**
90,117
6,613
40,639
9,780| |---|---|---| |||147,149| - 21 - ## **CLARETIAN MISSIONARIES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **4 Income from charitable activities** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |**Charitable activities**||| |Ministry Income|138,173|126,048| |Retreat house and Related income|143,943|87,620| |**Trading activities**||| |Claretian Oasis Centre and related income|26,611|195,567| |Charitable rental income|6,266|5,344| |**Investments & Interest receivable**||| |Interest receivable|36,868|31,534| |Rental Income from Investment properties|33,166|29,024| |**Miscelleneous Income**||| |Other income|2,404|-| ||387,431|475,137| - 22 - ## **CLARETIAN MISSIONARIES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **5 Expenditure on charitable activities** |**Support of**
**members**
**Retreat and**
**Conference**
**Trading at**
**Claretian**
**Oasis**
**Centre**
**Donations**
**and Support**
**missions**
**Restoration**
**Project**
**granted**
**2024**
**2024**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**£**
**£**
**Direct costs**
Staff costs
47,755
89,102
65,437
-
-
Premises
8,497
77,275
12,229
-
-
Food and Supplies
16,879
18,517
21,394
-
-
Living and Personal costs
25,227
-
-
-
-
Travel, Visas and motor
expenses
21,575
1,865
-
-
-
Education and Formation
13,207
-
-
-
-
Medical
2,379
-
-
-
-
Printing, Stationery &
Telephone
-
5,408
-
-
-
Other administrative costs
-
-
1,808
-
-
Contribution- Provincial
-
-
-
41,197
-
Contribution- Overseas
-
-
-
10,978
-
Restoration Project
-
-
-
-
5,227
Depreciation
-
-
20,585
-
-
135,519
192,167
121,453
52,175
5,227
**Share of support and governance costs (see note 6)**
Support
18,870
28,304
25,401
-
-
154,389
220,471
146,854
52,175
5,227
**Analysis by fund**
Unrestricted funds
151,904
220,331
146,854
40,197
5,227
Restricted funds
2,485
140
-
11,978
-
154,389
220,471
146,854
52,175
5,227|**Total**
**2024**
**£**
202,294
98,001
56,790
25,227
23,440
13,207
2,379
5,408
1,808
41,197
10,978
5,227
20,585| |---|---| ||506,541
72,575| ||579,116| ||564,513
14,603| ||579,116| - 23 - ## **CLARETIAN MISSIONARIES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ |**5**|**Expenditure on charitable**|**activities**|||||**(Continued)**| |---|---|---|---|---|---|---|---| ||**Previous year:**|**Support of**|**Retreat and**|**Trading at**|
**Donations**|
**Restoration**|
**Total**| |||**members**|**Conference**|**Claretian**|
**and Support**|
**Project**|| |||||**Oasis**|
**missions**|**granted**|| |||||**Centre**|||| |||**2023**|**2023**|**2023**|**2023**|**2023**|**2023**| |||**£**|**£**|**£**|**£**|**£**|**£**| ||**Direct costs**||||||| ||Staff costs|10,131|41,400|247,116|-|-|298,647| ||Premises|11,179|97,339|16,510|-|-|125,028| ||Food and Supplies|40,758|9,879|102,014|-|-|152,651| ||Living and Personal costs|24,428|-|-|-|-|24,428| ||Travel, Visas and motor||||||| ||expenses|18,851|2,372|-|-|-|21,223| ||Education and Formation|8,655|-|-|-|-|8,655| ||Medical|2,242|-|-|-|-|2,242| ||Printing, Stationery &||||||| ||Telephone|-|9,071|-|-|-|9,071| ||Other administrative costs|-|-|5,176|-|-|5,176| ||Contribution- Provincial|-|-|-|43,385|-|43,385| ||Contribution- Overseas|-|-|-|10,521|-|10,521| ||Restoration Project|-|-|-|-|7,710|7,710| ||Depreciation|-|-|20,585|-|-|20,585| |||116,244|160,061|391,401|53,906|7,710|729,322| ||**Share of support and governance costs**||**(see note 6)**||||| ||Support|10,878|18,700|16,508|-|-|46,086| |||127,122|178,761|407,909|53,906|7,710|775,408| ||**Analysis by fund**||||||| ||Unrestricted funds|125,692|175,880|407,909|41,385|7,710|758,576| ||Restricted funds|1,430|2,881|-|12,521|-|16,832| |||127,122|178,761|407,909|53,906|7,710|775,408| - 24 - ## **CLARETIAN MISSIONARIES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **6 Support costs allocated to activities** |Depreciation
Printing,stationery and telephone
Other
Depreciation (direct costs)
Audit and Professional fees
**Analysed between:**
Support of members
Retreat & Conference
Trading at Claretian Oasis Centre
**7**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets|**2024**
**£**
39,908
5,502
4,778
(20,585)
42,972
72,575
18,870
28,304
25,401
72,575
**2024**
**£**
42,972
39,908|**2023**
**£**
38,714
5,803
14,655
(20,586)
7,500| |---|---|---| |||46,086| |||10,878
18,700
16,508| |||46,086| |||**2023**
**£**
7,500
38,714| ## **8 Trustees** None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## **9 Employees** The average monthly number of employees during the year was: |**Employment costs**
Wages and salaries
Other pension costs|**2024**
**Number**
9
**2024**
**£**
163,748
38,546
202,294|**2023**
**Number**
17| |---|---|---| |||**2023**
**£**
298,647
-| |||298,647| There were no employees whose annual remuneration was more than £60,000. - 25 - ## **CLARETIAN MISSIONARIES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **10 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **11 Tangible fixed assets** |**Freehold land**
**and buildings**
**Leasehold**
**improvements**
**Fixtures and**
**fittings**
**£**
**£**
**£**
**Cost**
At 1 January 2024
1,000,000
64,378
130,174
Additions
-
-
-
At 31 December 2024
1,000,000
64,378
130,174
**Depreciation and**
**impairment**
At 1 January 2024
80,000
18,824
93,216
Depreciation charged in the
year
10,000
6,438
20,373
At 31 December 2024
90,000
25,262
113,589
**Carrying amount**
At 31 December 2024
910,000
39,116
16,585
At 31 December 2023
920,000
45,554
36,959
**Investment property**
**Fair value**
At 1 January 2024 and 31 December 2024|**Computers**
**£**
3,689
-
3,689
1,813
738
2,551
1,138
1,875|**Motor**
**vehicles**
**£**
47,556
6,945
54,501
46,586
2,359
48,945
5,556
971|**Total**
**£**
1,245,797
6,945| |---|---|---|---| ||||1,252,742| ||||240,439
39,908| ||||280,347| ||||972,395| ||||1,005,359| ||||**2024**
**£**
950,000| ## **12 Investment property** 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. ## **13 Creditors: amounts falling due within one year** |Other taxation and social security
Accruals and deferred income|**2024**
**£**
26,703
10,159
36,862|**2023**
**£**
59,751
7,500| |---|---|---| |||67,251| - 26 - ## **CLARETIAN MISSIONARIES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ |**14**|**Retirement benefit schemes**||| |---|---|---|---| |||**2024**|**2023**| ||**Defined contribution schemes**|**£**|**£**| ||Charge to profit or loss in respect of defined contribution schemes|38,546|-| The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. ## **15 Restricted funds** The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. |**At 1**
Mission fund
Clergy fund
Training fund
Other
**Previous year:**
**At 1**
Mission fund
Clergy fund
Training fund
Other|**January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**At 31**
**December**
**2024**
**£**
**£**
**£**
**£**
**£**
419
28,067
(11,978)
1,112
17,620
163,029
-
-
-
163,029
-
2,485
(2,485)
-
-
596
30,011
(140)
-
30,467
164,044
60,563
(14,603)
1,112
211,116
**January**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**At 31**
**December**
**2023**
**£**
**£**
**£**
**£**
**£**
85
13,654
(12,521)
(799)
419
163,029
-
-
-
163,029
-
1,430
(1,430)
-
-
3,477
-
(2,881)
-
596
166,591
15,084
(16,832)
(799)
164,044|**January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**At 31**
**December**
**2024**
**£**
**£**
**£**
**£**
**£**
419
28,067
(11,978)
1,112
17,620
163,029
-
-
-
163,029
-
2,485
(2,485)
-
-
596
30,011
(140)
-
30,467
164,044
60,563
(14,603)
1,112
211,116
**January**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**At 31**
**December**
**2023**
**£**
**£**
**£**
**£**
**£**
85
13,654
(12,521)
(799)
419
163,029
-
-
-
163,029
-
1,430
(1,430)
-
-
3,477
-
(2,881)
-
596
166,591
15,084
(16,832)
(799)
164,044| |---|---|---| |||164,044| - 27 - ## **CLARETIAN MISSIONARIES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **16 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. |**At**
General funds
**Previous year:**
**At**
General funds|**1 January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
3,330,769
450,266
(564,513)
**1 January**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
3,481,344
607,202
(758,576)|**Transfers**
**At 31**
**December**
**2024**
**£**
**£**
(1,112)
3,215,410
**Transfers**
**At 31**
**December**
**2023**
**£**
**£**
799
3,330,769| |---|---|---| ## **17 Analysis of net assets between funds** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**At 31 December 2024:**
Tangible assets
972,395
-
Investment properties
950,000
-
Current assets/(liabilities)
1,293,015
211,116
3,215,410
211,116
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
**At 31 December 2023:**
Tangible assets
1,005,359
-
Investment properties
950,000
-
Current assets/(liabilities)
1,375,410
164,044
3,330,769
164,044|**Total**
**2024**
**£**
972,395
950,000
1,504,131| |---|---| ||3,426,526| ||**Total**
**2023**
**£**
1,005,359
950,000
1,539,454| ||3,494,813| ## **18 Related party transactions** There were no disclosable related party transactions during the year (2023 - none). - 28 - ## **CLARETIAN MISSIONARIES TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ |**19**
**Cash absorbed by operations**
Deficit for the year
**Adjustments for:**
Depreciation and impairment of tangible fixed assets
**Movements in working capital:**
(Increase)/decrease in debtors
(Decrease) in creditors
**Cash absorbed by operations**
**20**
**Analysis of changes in net funds**|**2024**
**2023**
**£**
**£**
(68,287)
(153,122)
39,908
38,714
-
35,417
(30,389)
(1,391)
(58,768)
(80,382)| |---|---| The charity had no material debt during the year. - 29 -