Society of the Helpers of the Holy Souls A Registered Charity Report and Financial Statements 31 December 2024
Society of the Helpers of the Holy Souls A Registered Charity CONTENTS Page TRUSTEE'S REPORT AUDITORS. REPORT STATEMENT OF FINANCIAL ACTIVITIES io BALANCE SHEET li STATEhAENT OF CA5HFLOWS 12 NOTES TO THE FINANCIAL STATEMENTS 13-L9
Society of the Helpers of the Holy Souls - A Registered Charity TRUSTEE'S ANNUAL REPORT at 31 December 2024 The Trustees wesÈnt thelr flnanclal statement5 and anDU31 report for the year ended 31 December 2024. The fin8n¢lal statements have ljeen prepared in accordance wlth the attOLtnlinB policie5 set aut in note I to the financial 5ÈJtementS and comply with the Charity's trust deed dated 8 September 1949, the Charitiès Act 2011 and Accaunting Ènd the Charitles Stateinenl of Rec)mmended Przctice leffÈctlve l January 2019I- Icharities SORP IFRS 10211. Reference and Adminlstratlon Detalls of the Charlty, Its Trustee and Advlsors DatÈ of Deed 8 SeptÈmber 1949 Trustee The Holy Rood Truslee Company Llmited The Director5 of the Company durlng the yearwere'.- Elizabeth M3ry Kelly Karl Hart Margaret Ann Minards Fr3nce5 Mccarthy The stat¥tor¥ power of appaintment of Trustees applies and a corporarlon or company may be appolnted. Except as regaids any corporatlon or company, anv person who shall not profess the Roman Catholic religion shall be absolutp.ly disqualified Irom acting or remaining a Trustee. Any Trustee who shall become Incapacltated from acting or communicate in writing a wish to resi8n cr sh811 be requested by two-thirds of the Trustee5 to resign shall thereupon cease ta be a Trusiee. The Hob/ Rood Trustee Company wès appointed a5 3 Trust Corporatlon on 241anu3ry2(100.Theappointmentof new TrusteÈs Is considered by the existin Trustees to ensure Ihat the bDard of Trustees has the approprlate 5klll sets ttr The inductlon process for new Trustee5 campri5es an Inla1 meetlng at which the new Trustee is briefed on the 8rant makSn8 procedures, the investment 5tr3teg¥ of the (harlty 2nd the responsibilities of the Trustees. P4ew TrsLee5 are prOded wllh 3 copy of the Charity's tnost recent annuil financial statÈments and orher relevant dotuments. Nature of Trust ReElStErEd Cknrity No 240B76 (Charity Commi55ion lor England and W8les1 Registered Charity No 5C(K¥K>84 IOSCRI Registered Addre5S 81 St M8ry'5 Road Llverpool L36 SSR Accountants TMF Global Services IUKI Ltd 131h Floor l Angel Court London EC2fl 7HJ Audltors FKCA Llmited 260-270 Butterlleld Great Madings Luton LU2 8tIL
Society of the Helpers of the Holy Souls A Registered Charitv TRUSTEE'S ANNUAL REPORT at 31 December 2024 Bankers The Royal Bank of Scotland plc RBS Bisl)op5E3te 49 Bishopsgate London EC2N 3AS Soli£itOT5 Stone Klng 3rd Floor Batemax House. 82-88 Hllls Road Thlriy statio Road Cambridge CB2 ILQ Stockbrokers Charles Stsnley & Co 55 Btshop5gate London EC2N 3AS Investment Power5 Unrestricted Ta Uttder existlng law the trust is exetnpt from IncDme tax, Inheritance tax and capltal gains ta¥. Religlous houses NO 3£count has been taken of the assets or liabilltlÈs of the Individual houses bv 3greeinentwith thÈ Charity Commlsslon. Permltted Désllnètlen ef Funds As to both tapital (Expendable Endowmentl and incomè.. al for the s¥pport of the poor, 51ck and needy In(ldIng maintenance and support of charitable institutions for Ihe poor and needy whether at home or abroad, whether or notihey are members of thÈ Rom8ft Catholl¢ religion,. bl MaIntenan and support of charltable Institutions for persons èngBged In or C3rrying OLJt thÈ work of the suppart 3nd thÈ vlsitatltsn of the poor. sick and neÉdy,' and cl 8ener311y for any such charitable purpose at the discretlon of the Trustee conducive to the advancement or malntenance of the Romatt Cathollc rellgion whether In Great Brltaln or elsewhere. Structure, G¢wemance & Management Governance & Manigement The Charlty Is unincorporated trust constitutèd under a trust deed dated 8 September 1949 and is a re815tered tharltVJ number 240786. The management of the Charllv Is ¢arrled out by the Dlrectors of the Trustee Company who also derermine the overall st¥ate8¥ of the Charity. The Charity has a close working relationship wlth thp Genpral Council In Par¢swhich provides the chaflty with adviie and. when necessaryi financial Èssistonte to ensure that the CharTty15 able to continue to meet Its charltable objectives. Oblectlves & Activities One of alm5 of the Charity15 to provlde support for the poor, slck and npedv, whetherat horné or abroad regardlessof whethertheyare mernbers of the Roman Cathollc Rellgion. The Charity ha5 m3de 3 commltmenl In lavour af humar> rlghts and provides help for displaced persons and suppert for economlc, Èdutation and health development proleci&
Society of the Helpers of the Holy Souls A Registered Charity TRUSTEE'S ANNUAL REPORT at 31 DÈceMber 2024 Objectlve5 & ActivitlE5- contlnued The actlvity of the Charity wlth regard to this alm has been der5e. In tlie UK these include wort¢ing in local parishes (this Iiicludes working with the sick, local schoo15, ffjmele5s 8nd elderly), with those who have Severe 2nd endurlng mental Illness. wirh survivors of torture. with refugees, chaplaincy work in schools and hospttals, education of childr2A, working with 3(Eults with learnlng diffkultles and those wh¢ suffer from AIDS. The acrivltles of the Charlly also have an international aspecr and Include worklng with NGO.% for example CAFOD, OXFAM and other ju.stice and pe3tr organisation5. This WOFk has necessit3ted intern2tlOnBI visits to third world couniile5, The Charltv is involved with the educatlon of women in third world contrieS znd in the prevention of human traflicklng Df women and chlldren. The Charity 3150 5upport5 tlie work of SIDI Ilnteithatlonal Solldarlly for DevebpmEnt Investmentl and CCDF (Catholic Committee against Hunger 3nd for Development). The Ch8rlty continues lo maintaln Its In5tltutions as well as 5UPPOrting the ongoin8 care of the sick and elderly 515ters, This constitutes 3 large part of the Ch3rlty'5 expenditure is the majority of the 4sters of the congreg3tian are elderly. The slsters do not recelve Èny remuneration for thÈ work they carry out for rhe Charity. Method of Donatlon The trust supplies financlal asslstance to rellglous houses and th15 is expected to continue in the foreseeable future. At the end of each year the comrnunltylslster has to 3ctount for the money spp.nt during the yp?r and ha% to submit a budEPt for the comin8 year. These are sent to the Province Leadership Team. l-ath bud8et Is consldered then the overall budget of the Provlnce, whl¢h is made up of all the budgets, is looked at and dec*sions mide reg3rdingamendmentsto the budgets and the grants io be Madc to tach house. The Trustce approves the grants arid Ihen takes on the re5ponsibllity of theiradmini5tration, The end of theyear account5 and bud8et5 for the comlng year are also sent to the General Bursar in Paris who presents them to the General LeadershipTeam. For Important matters, such as the sale of one of Ihe houses, authorItIon is iequired by the board of Dlrector5 of The Holy Rood Trustee Company Ltd and signEd by any three of the Dlrectors. Any Importanl decision 15 made only after a process of discernment is carried aut involvlng the Sistèrs tonterned and the Province Leadership Team and others who may be affected by the declslon. Risk Mèn8geMent The Tyustee confirms that the major risks to which the Charity is eyp05ed. as identified by the Trustee, have beet) reviewed and systems have been e5t3blished to Mitigate those ¥i5k5. Investment Pallcv The Investments are mènaeed l)v Charles Stènley & Co. In exer¢lsing discretion over its investr¥Trent policie5, the Trustee aims to malntaln a balance, Èxposing the portfolio to no more than a moderate rlsk with a vlew to providing income for today without forgettirtg the loiig-term Deed to protect the real value of capltal. Selecting 3ppropri3te investmeTrt5, the investmÈnt rnanager Is also mindful that investment5 should nat give exposure to areas whlch are not IM harmony with the Char£ty'5 ethlcal and religious ethos. ArfvI regardlng the portfolio of freehold properdès held for the Charlty's tsse Is obtalned from indivldual Surveyors appropriate to the locality of each properly, Maintenance of the properlieg 15 a prlority.
Society of the Helpers of the Holy Souls - A Registered Charitv TRUSTEE'S ANNUAL REPORT at 31 DEcember 2024 Achievements, Ptjblic Benefit and Performance The flnanclal st8tements have been prepired in 3ccordance wSth the 3CCQUnting policles set out on pages 13 and 14 and comply with the Charity's Trust Deed aThd applicable law. ExpendSture from Ihe income account during ihe year eed 31 December 2024 amounled lo £592.637 12023 EI,075,2741 which deducted fram the Sncome of £704,084 gave a surplus of Elll,447. A sum representing the surplus was transfeired to the Endowment Fund. The expenditure include£ grants of £510.228 12023 £1,031,L811 as det?iled in note 4 to the ilnènclal stalements. The total funds held by the Charity 3s at 310ecember 2024 was £20,418,704. Thè Trustee conflrms that they have referred to the guldance contained In the Charit¥ Commission's general guldènce on public benefit when setting their Èiant rnaking polic¥for the year, In line with the charity's 2ims and oblectlves. The net losses on revaluatlon ènd di$wl of investment assets was E396,822. The total return for the Maln Fund over the year wa$ 3.62%. This compared to total retrn5 on the FTSE 100, MSCI PIMFA Prlvate Investor B31anced and FTSE All-share Inde5 of 9.66%, 10.73% and 9.4PA rèspèctivety. The requirements ef sectlon 13 of Ihe CharitlÈs IProtectlon and 5acial Investmelltl Act 2016 require5 thit the Trustees of those charitles tTrt must have an audlt by charity law ère to provlde 3 Statement on specific 3reas of thèlr fundraising in their Trustpes. Annual Report. The charlty is unincorporated and does not currently actively fUdraise therefore the requlrement5 do not apply. The 2023 grant comtnitment of £150,LKJO to The Old Schoglhouse Community was pald ith the year, and a further grant of £170,(M approved, which will be paid in 2025, The followlnE conditions wère pl8ted on the grant.. The grant is given to the Old Schoolhouse Community Project In recognitio of the reality that thp Ini5sion and ethos ol the old Schoolhouse Community Projecl 15 ck)sely aligned to th3t of the Helpers of the Holy Souls. The grant Is offered, therefore, to malniain the work of ihe o¥ganisatioD, and allow It to dovelop In line with this mlssion. The fundamèntal prlnclples beinE'. To suppori all people to reach the goal of thelr creatlon To help in all manner of good -To k provldence of Providejce To work WhthOSe who are forgotten - To go to the utmost end5 of the earth to help others Reports outllnlng how rhe above principles ale being met wlll be provided 3t least annually to the Prowncial Leader5hlp Team but they reserve thÈ rlaht to request reports more ofteTr. The Sisters hove been closely worl¢ingwith Share Kliowsley overthe last fewye8rs, It 5upporl5 rege@S and asylum seekÈrs In varlous ways, It runs English lessons akd offers a(fvocacy to help wlth asylum applications and hou5in8 proNems. A drop-in serwce alsu allowsfor social interaction wlththe loc81 community, aswell a5 providing food ?nd clothin8 cheaply. A grant of £200,000 W3s agreed In Aprll 2023, to be paid over three years, £60,000 to be paid In In 2024 and £70,QOa to be paid in 2025 and 2026.
Society of the Helpers of the Holy Souls - A Registered Charity TRUSTEE'S ANNUAL REPORT at 31 Dernber 2024 Plans for luture PEtlod5 Thefrustee5 are58tlsfted wlth their grant maklng priorlties and It is theirintention to tot)tlnue on thls basls to achlevethe oblertfve% of the. Charlty In the ftre. The Investment pollcy Is currentty belng revlewed wkh an Intention to reflert a more ethKal approach. Going ConcErn The TiutteEs cons6derth8tthere are Tho materfal uncertalntEes about the Charity's ablity to continue a5 3 golng concÈTn. The TTuslee5 have considered the financial health of the chaTity and wilh tIw5 In mind theTiustees believe thatthe charityatthe date of 5igniDgp wlll contlnue as a golthB concern fortheforeseeab1efuture. Reserve5 The Endowment Fund repFe5ents the Charlty's reserves whith are used to suppletnEnt thE incorne as nEce5sary to rnalntaln £rants. The Trustee's pollcy is to at le45t malntain rese¥ve5 at thelr present level, subject to the prevalllnE IDve5tmentillmate. TheGeneral Bursar in Pzrls has requestéd that each provifiteof the Instilute make5flnanclal provislon for the I0-terM careof slster5. Following Ihe anDu81 revlew and In c¢nsSderatlon of that)Blngdr¢umstsnces we have calculated that, for the Brit15h ProvFnce. ÉIO tllilllon wlll be qUIred Dver the nexl 3Q years to secure Ihi5 provi5wD. It IS lo be held in reserve and will be known as'stable Patrimonv.
society of the Helpers of the Holy Souls A Registered Charity TRUSTEE'S ANNUAL REPORT lor the year ended 31 December 2024 statement from the Group Iprovincel Seciet3ry Old Schoolhouse Community Project, St John5 Road. Huyton loscp,co.ukl Re& Charlty No. 1097390 ITO support comrnuntly groups cnd volunt(Fry se¢toror9Qn120tlons throuoh provislon of high quolityi lowcost undflexible eetlng spE The Sisters have been 35socialed with th projecl slnie its Inception. In the kst few years financlal support ha5 been given In the form ot a 8¥ant, and It was agreed to continue this support over the comlng twÈlve months. The lotal Slsters continue to contribule as volunteer5 and trustees. In suppori of refugeelasylum seeker5 In the titiÈs where we are present. SlsLers are actively ID support of indwiduals and famllle5 who are seeking refuge in the UK. Thss involves regular visits to individuals, being involved at drop-ln centres, provision of transport to and frorn appjintments, assistance with documentation 3nd writing to official agencses, facilitating a support Eroup for volunteers who 2ccompany/te3ch English to immigrants and refugees, and offèiing Ilnancial 8ssisl8nce in some circum5taiices. The Slsters èlso continue to.gupwrt SNARI Knowsley ICh3rity No. 1179562 www.5hareknowsle .or Jk) by way ol a grant. Thls g¥oup support refugees/asylum stekcys throu8h English lessons, advocacy in asylum applicatlOn5 and housln8 Issues, helpin4 with furniture, Ind a drop in serv*ce. H05Pltality The Siste15 maintaln both 3 Smèll house and a stallc caravall laduptedfor those wlth o dlsobiRityl providing places of resplte, ¥etredt, hullddys or spaces for some people in cri515 Sltuation5. Visiis to Nursing Home5 3nd housebound The Sisters cuntinue Iu In¢ike vlsltS to local Nur5inE Home5 in thelr irea. They ilso regularly vi51t our own elderly Slster5who are in re51dential care. Vi5itsto the el(lerly housebound are also made on a regulai basis bythe Sisters. Retreat5 3nd Spiritual Olre(tx>n Two Slsteis offer retreats and spirituality caurses to groups in both the UK and abroad. A number of Sisters offer individu31 splritual directlon in the UK. Help to the bereèved Some Sisters are c105el¥ involved wlth the bereaved through Bereavement Groups in their local Church, and one Sister regularly conducts funerals. Networking with other 4gencles ThÈ Sisters are involved in their local areas through contact with other agencies- i.e Be8lnnlng Experience Isupportfor those sepJroted, widowedonddivorcedl,. CAFOD ICasholicAgencyforOver5e05 Developmentl,. LGÈT pastoral care., HIV events and rneetlAgs, and Committee member/Volunteer lor nbar Cliurche5 Together Foodbank. Othèr One ol the Sister5 has been working in Kenyx to strpport the establishment, and development, of 3 npw house of formatlon. Futiher support will be offered in the form of a grant tOW3rd the cost of the new bulldlnE. The Charity ha5 3greed to offer £250,ONlto this endeavotsr. £50,0 was pald In 2023, and the remainillg £200,000 was p31d In 2D24. Sr. Anne Paterson HHS Group (pronCe1 Secretary Glasgow L2th March 2025
Society of the Helpers of the Holy Souls - A Registered Charity TRUSTEE'S ANNUAL REPORT at 31 December 2024 Statement Df TrusleE'5 re5PDn51bllhles forthEflnanclal statements Law appllcable to charities in England & Waks requires the Trustee to prepatÈ financlal statemEnts for each financlal year whlch a truÈ and fair view of the Charitys ftntntial attivitie5 the year and ol it5 Ilnancial posltioo at the end of the yew. In preparin8 fipawKial 5tatemtnÉ5 givin¥a and faii¥w. theTrustee should folbw best praciice and.. select sult)ble accounting polieS and then zpplythem con4sÈenlly,' Dbservethe methodsand wlndples In the Cha¥ltySOPP.. tnakeludgemenls and ethmatesthatare reasonable and prudent- ste whether applicable 3ccouThtiDg staTrdèrd5 have been followed, subject to any drtUreS disclosed and eXp8¢ned In thet7nandèl statements., and prepare the financial statemerhts on the goifflg concerrb ba51s unless It Is Inapproprlate to presume that the Charltywill continue in ope0. Yhe Trustee is responsible for keeping accountlng recotds whlch disclose wlth reaSOP. accufacy the financlal position of the Charity and which en2btÉ It to as(ertaln the finantlal posltion of the Charity and which enable It to ensure that the flnancia151atements cotnpJywilhtheChaiitiesAc12011. theChafltylAccountsan(SReportslRe&ulationsand the pr¢vlslons of the trustdeed.TheTrustee Is3150 respDnsibleforsafeEuardlnKthe etsof the Charltyand hencefotiakln8reasonable step5 for the preve10 and dete£lionof fraud and other iite8ularitle5. So f4ra5eachTru5tee is aware.. thefe Is no relevant Informallon ol whlch thecharlvs auditors are unaw¥e.' and each TrJ5teE has taken all steps that they ouahtto have taken to make themselves aware of any relevant audit Informatton and to estsbllsh thatthe audltors a¥eaware Df thatlnformatlDn. pproved bytheTru5tee on- 2f, 7. 'L Date and slgned on its behi Trustee
INDEPENDETrJT AUDITORS, REPORT ta the Tiustee of the Sociely of the Helpers of the Holy SDu15- A Registered Charlty Opinio We have audited tlie financial 5talemeryts of Ihe Society OF the Helpers of the Holy &3tsls (the 'tliarily'l for the year ended 31 December 2024 which comprise the Statement of FlnanclÈl Attivlties, the Balance Sheei, the C2sh Flow Staternent and notes io the Ilnan¢lal stalemenls, including 3 summary of signifi13nr aciountiiig policles. The financial reporting frameworl< th3t has been applied in thEir preparation 45 appliiablp law Unlted Kingdom Accounting StandaTd5 Iunlted Klngdom Generally Accepted Accounting Practice). Th15 report made solely to the thariiy's Trusiees, as a body, in accordance wirh Section 144 of the Charities Act 2011 and regularions made under 5eaion 154 of th3t Act. Our audit work has been undertaken so that we mlght state to tlie charitvs Trustees those matters we are requlied to Stale to them In an audltors, report and foi no orher purpose. To the fullest exteiit ppimltted by law, we do not accept or assume resnsIbIlItY to anyone other than the tharity and the charitvs Trustees 3s a bodyi for our audltwork, forthls repoit, or for the opnions we have fformed, In our opinion the financial statemerts'. give a true 3nd fair view of the state of the charity's affaSrs as at 31 December 2024 and of its incoming resources nd applicaLlon of resources for the year then ended,. have properly prepared in BccordancÈ with United Klngdom Generllly Aecepled Accounting Practlce,. and have been prepared in 3ccordanTr with the requlrements of the Charltles Att 2011. Basis for opirtlon We conducted our audif in acturdance with Iniernaiional Siandards on AudltinE IUKI IISA5 IUKII and applicable IBW. Our responsibilities under those stsndards are further described in the Auditors responsibillties for the audit of the financsal 5tatemeTrt5 section of our rewrt. We are Independent of the charity in accordance with the. pthical requlrements th4t are relevant to oJr audit of the financi31 statement5 in th2 UK. including the FRC'5 Ethical Standard, and we have fulfllled our other ethlcal responslblllLle5 in ac£ord3nce with these requirements, We believe that the audit evidence wo have obtalned Is sufflcient and 4ppropri3te to provide a basis for our oplnion. Conclusions relating to going eonter We have noihing to report In respect of Ihe following matters in relation to which the ISAS IUKI requlre us te repolt to vou where.. the Trustees. use of the going concern ba515 of accountin8 in the preparation of the flnènclal statements is not pprDpriate.' or the Trustee5 have nol disclosed In thÈ financlal statements any Identified marevial uncertaintles that may cast signlfltant doubt about the charity's abllliy to contlnue io adopt ihe going concern basis of accounting for 3 pe¥iod of èt le8S1 twelve monihs from tlie date when the financi315tatetnentS 3re 8uth0ri5ed for i55ue. Other Infoimailon ThÈ TrustÈ are responsible for the oiher infformatlon. The other Inform8lion comprises the Information induded In the annual report, other Éh?n the fi'nancial statements and OUT Report of the Independent Auditors thereon. Our opinlon onthe financial statements does not coverthe other Information znd we do not express any form of 3ssur8nce conclusion thereoll. In connection with ouraudit of theflnanclal 5tatem@nts, our responslblllty Is to read theother informatlon znd, In doing so, consider whetherthe other informarion is materlèlty incons¢steJt the financi31 statements or our knowledge obtalned in the audlt or otheiwise appears to be materially mi55tated. If, ba5Éd on the work we have performed, we conclude that there is a material mi55tatement of th15 Other informatlon. we 8re Iequlred to report that f3¢t, We have nothing ta iÈport In thls regard.
114DEPEt4DEMT ALIDITORS, REPORT to theTnJstee olihe50¢18ty ol ihe Hersolthe Htd¥Souls-A Re8lthred tharfty Matterson whkh we ar¢ rgqylrd to rport bye%¢b We have noth to iepw in res1 I"n& matters where (knties Art 2011 reqre$ us to rewrt to you if. in ouYosMnion'. the information gNen In fter of the Tfustees 15 Itent in any matwlal rupert w>th the flnanclal 5tarements'. or suffiaent accountin8 iecords been kepi." or the finantial ststements are noi Inagreernentwfth the accounti6¥e[d5 arxl letUr or we haw& r¥J¢ re(elved èll the lTrformatk>n and exFI?naitor6we requiie lo¥wr a,.t. Responsibllilies of TnbStee5 A5 explained more lully in ihe Trustees Responslbilitystatemeni the Tnjstees ale fot the wyrallon of the fir(131 siatements whith zive a IWE fall VIEW. a1 lor such internal ioThtrol a5 the Trustees determine 15 nEcessary to enable the preparation of finènllaf stawnis thai are freefrom maiertsl misstateThenl, wthether dueto fraud orerror. In prepari Ihe fin31 #ale the TTU5tees are resw)nsitrJe for assess¥¥ the ¢ha¥l¢Vs ability to (Onllnue as gng corKern. as aprAKabt4 maners relatèd i(¥golngtenterrb and using the8Qtn8ioncein basi% of accountin8 unkss the TeeS ther intend to I1¢pla djarity (v to Lse owaiion5. or have reab5tfjc alierfiati¥e tvjtto r re$pthslIitlesIQTthe audlt of th¢ikiond st•temen15 Our oblecrives are to tsbtain rea50nabfe assurance aTrxJvt whether the finanaal 5tstEfflents as a whok are free fiorTr material missiatement, whether due to fraud or error. and to Issue a RepNt of the Independeni Audltors that indude5 our oJtrntoTr. ReasonaWe assurance hi8tklEvel of assurarKe isnoi a guaiantee thai anaudsicondKtedin accofdance vAih Isk IUKI will alway5 detetr a mErlal mi55taterrbent when it e5t5. mStateMents£an arfse from fraud or ernK and are tortsidefed mater1 if. indialor in the awegate. they coukl reasablY be eAFrted to Infiuence the eCorn1( decisionsof u5er5ta1en (wthe baslsofthese staiemen Bttau5e of the Inhereni Iimltalion5 of an audbt. there bs a that wil ty)t ¢kte(t all irregularfties. lrtludlng those leadln8 to a materfal mlsstaternentinthe ftnanclal staterllentsoTrnll-coMrdQWIIh reeuL3tlon. Thts risk intreasesthe morethat compliart¢È wlth a law or regulation is remo¥ed from the e¥ent5 andtr•n5actyO reflerted in the 1Shandal st3temetht5, a5 we will be kn likdy to become aware of Instances of r<0Ml418È. The risk ts also greater regardin8 irregulaAtle5 OCCuwrÈng due to fraud rather than e(ror. % fraud IrN0th intÈntk)nal ¢o¢ealmeni. ffoery, collusion, omission or n¥Srepresenta0n. Ir¥eEuIDrities. ilUdIngfr8Ud.Zre narte50[ rMMKOmincewIthIèW5andregUIatiOTIS. Wedesl8n procedures In IlTrewlth our responsifAiitie5. Outlined ae. tD detett material misstatements in ¥EspÈtt 0£ Irregul[leS. indud1 fraud. The extem ¢owhi¢h owproceduresarecapable<+dete£ti irregult.Inudthg1fd 1$detsed below.. Enqu>ry of rn4nagemer¢r. those thargedth go¥erDaKearjnd artual and wtenual Illigat anddatm En4utryof theTtU5tee5 10 eNIfY any stance50f n0rrfomlJnceWtthl8w5 and re6uLiitons. - RevlewYn8 mknute5 of meeLingsofthosE char8ed 8o%wnance. ReviewnErinUal staternent thsdox¥e5 and test1rt0 5uprK•rtIdtentatthtU assess cornptiantt with apkable law5 and re8utstions. Auditlngthe riskof m3naeementoverrideof controls, 1ndlJ11r4)8h tesiirgiournalÈnt¥lesand otheradjustmentsfor appropriatÈne55. and evalualit the ratiDnèleof swtlKant Er8nsartK>n5 oUtde the thjertwegof the Charity. . PerfDrmeddet¥led SubstantlteSt8 io adthessc¢)Meter¢e5% and accuracy of th¥e5trnÈnts and iThve5tmtt)t iKome A furthef descriptyon of ow reSwJntrliIleS tor alIt of the finan0 staiemenf5 151(ated on the Fln3ncial Reporting C0urKil'swebte ai www.fr . TN5 dePtIOnf0rms wtof¢M Reportof the Ihdependent Audilors. Ta d¥ll ACAISentorSlatutoryAthJitor FDr and on behf0f FKcAld ststutoryAudi(or 26(k270 8utterfield Great Martlng5 Lvton LU2 BDL Date..
Society of the Helpers of the Holy Souls- A Registered Charity STATEMENT OF FINANCIAL ACTIVITIES for the year ended 310ecember 2024 Unrestricted Fund5 Expendable Endowment Total Total Income 2024 2Q23 NotÈ INconAE AND EMDOWMEMTS Investments 704,084 704,084 664,286 TOTAL INCOME 704,084 704,084 664,286 EXPENDITURE Cost of ralsing funds 66,481 66,481 592,637 65,469 1.075,274 592,637 TOTAL EXPENDITURE 592,637 66,481 659,118 1,140,743 NET INCOMEJIEXPENDITUREI BEFORE GAINS AND LOSSES ON INVESTMENTS 111,447 166.4811 44.966 1476,4571 Net Ilossesll831ns on Investments 1396.8221 1396.8221 520,566 Net IlossesllEains on caravan Sale 1,500 1,5C¥) Net gains]Ilosse51 on property sale 236,810 236,810 NET INCOME/IEXPENDITiIREI AFTER GAINS AND LO¥ES ON INVESTMENTS 111,447 1224.9931 IIL3,5461 44,109 TRANSFER BETWEEN FUNDS 17 1111,4471 111.447 NET MOVEMENT IN FUNDS 1113.5461 1113.5461 44.109 FUND BALANCES BROUGHT FORWARD ZO,532,25Q 20.532.250 20,488.141 FUND BALANCES CARRIED FORWARD 20,418.704 20,418.704 20,532,250 10
Society of the Helpers of the Holy Souls - A Registered Charily BALANCE SHEET as at 31 Oecember 2024 2024 2023 ote FIXEE) ASSETS TanÉlble asseis Investment5 2,5,?35 17,530,275 2,595,550 18.432,479 20,031,060 21.028,029 CURRENT ASSETS Oebtor loa 438,900 388,930 Cash 3t b3nk lob 188,593 827,830 188.593 LIABILITIES.. amounts falling due wlthln ene year Accruals Other creditors Grants 113 141,1861 189.0001 1240.0001 145,3721 189,0001 1410,0001 Ilb Ilc NET CURRENT ASSETS 457,644 1355,7791 YOTAL ASSETS LESS CURRENT LIABILITIES 20,488,704 20,672,250 LIABILITIE5'. amounts falling due after one year 12 170,0001 1140,0001 TOTAL ASSETS LESS CURRENT LIAgILITIES 20,418,704 20,532,250 ftepresenting.. UNflESTRICTED FUNDS Expendable Endowment 15 20,418,704 20,532.250 Approved by the Trustee on,, 2f. I ZS- Date 2nd signed on its behal Trustee
Society of the Helpers of the Holy Souls - A Registered Charity STATEMENT OF CASHFLOWS for the year Énded 31 December 2024 2024 2023 Note sh flowsfrom operatlng artivlties.. Net cash providéd by (used Inl oper8tlng activities 16 11,335.1671 1770,3561 Cash flow5 from investing 3ftivlties- Investment income Sale of property Purchase of Caravan Purchase of properlv Proceeds from sale of investments Purchase of Investments 704,084 373,159 139.8601 17.2621 1497,3871 3,446,633 1,340.354 12,892,8691 11,341,551) 664,286 Net cash provlded by (used inl inve5tlttg actlvltles L,583,885 165,702 Change In cash and cash equlvalents In the year Cash 8nd cash equivalents at the beginning of the year 248,718 190,4(KI 1604,6541 79S,054 Cash and cash equivalents at the end of the year 439,118 190,400 2024 2023 Note Represented by: Cash held within the Snvestrnent portfolio Cash at bank 50.188 388,930 1,807 188,593 io 439,118 190,400 12
Society of the Helpers of the Holy Souls A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at 31 December 2024 ACCOUNTING POLICIES The priniipal 3ccounting poliiies adoptedj judgements and key sources of estimètion uncertainty in the preparation of the flnanclal statéments are Set out b@low'. al Basss ol preparatlon and assessment of golng concern The financial st3tement5 have been prep3red under the historical cost convention with items recognised 3t cost or transactlon value unless otherwise slated ia the relevant noie to these financial statements. The financial statements have been prep8red in accordance wth the Ch2rities.' Statemènt of RecummÈnded Pr3Ctlce13pplicable to charities prep2rlng their accounts in 2ccord3rce with the Financial Reportin8 standard applicable in the UK and Republic of Ireland IFRS 10211 leffectlve l January 20191- (Charities SORP IFRS 10?11 and tlie Charities Act 2011. The Charity constitutes a publit beneflt eiitity as defitt by FRS 102. The Trustees have considered the h-nancial health of the chèrity and deem that thÈrè are no Materlal uncertaintles about the CharSty'5 Abillty to continue as 3 going concern. TheTrustees believe Ih8t the Ch?rilyal the date of signin8, will continue a5 3 going cancern far the foreseeable future. bl Fubd structure The expendable Èndowment represent5 funds originally settled into the charity and the Trustee is permitted to apply ihe endowment as though It were income. As perrnitted by the Trust Deed, any suiplus or deficit Èrising on the Incotne 3CCOUnt for a year shall be transferied to or rNet by the Expendable Endowment account as there 15 no specific requirement for an income reserve to be held. Further details ire disclosed In note 17. I Income recognltlon All income is recoEnised once the Charity has entitlement the income, there Is suffieieni certainty of receipt and so it is probable that the income will be received, and the amount of Income recelvable Can be measured rdiabty. Interest on funds held is included upon notification of the interest paid or payable, Dividends are recognised on Ihe divldend has been declared and notification h35 been received uf the d¢vidend due. Credit is takEn in the accounts for income tax deducted from investment income whith has or will be reclalmed from the Fl M Revenue & Cusloms ¥p to 31 December 2024. Income from donations and legacies is Yecognised as Tt Is received by the Trusiee. dl Expendlture recognltlon Liabililies are recognised as eKpendlture as soon as there is a legal or constructive eblieatlon committln2 the Charlty lo that expenditure, it is prob3ble that 5etllement will be required and the amount of the oblig3tion can be measured rellably. All expenditurE 15 aciounted for on an accrva15 basis. All exppn5es, including support cost5 and governance iosts, are allocated or apportloned to the applicable expendliure headlng5 In thp Slatempnt of Flnanckl Aitlvltle5. For more Informatlon on this allotation refer to note èl below. Grants payable are payment5 made in furtherantÈ of the tharit3ble objectlvÉs of the Charlty. ProSon Is made for gr?nts approved by theTrustee in the year. el AllotIon ot8aveTnance and other support costs Governance and Support £ost5 have been èlloc3ted between charitsble activities ènd governance based on the actlvlly to wlilth they relatè. Thè allocètion is analysed lkn note 6. Governance costs coThprise all cust5 involving the publlc accountabillty of the Charlty and Its cornpliance with regulation and good practice. These costs Include costs related lo the audlt of tlie Chariiy and acwujtancy charEes, 13
Society of the Helpers of the Holy Souls - A Registered Charity NOTESTO THE FINANCIAL STATEMENTS at 31 December 2024 ACCOUNTING POLICIES- COhtlupd fl C05t af ralsingfund5 The cost of generallng funds comprlses the inStMent managemeni charges. The expenditure on charitable actiwties comprises grants made in the year, gavern3nce casts and support costs 35 shown in note 4. hl Tanglble flmed assets and depreciation Tgnglble assèt$ 8re stated at tost and depreciated according to their3$5et category. Propevtles Freehold properties 3re held for the use of the Ch8rity and are shown at thpir v3lue when received in trust with 5ub5equent additlon5 Included at cost. No provision ha5 been made thls year for depreclation of freehold prapeities. The Trustees are of the opinion that the recoverable amount of the freehold properties is in excess of the carrying value of that class of assets. This has been clearly demonstr3ted by the profits on disposal of propertles In recent years. An gnnual Impairment revlew is performed by tliè Trustees to ensurè no change to this opinlon ha5 occurred. siaticcarèvans Depreciatlon Is chafged on statlc caravans hÈld for the use of thè Charity, whlch 8re written trff on a stralght- line b8sis over their estirnated useful economlc lives. whlch Is at a rate of 20-15 yea, Flxed 355et Inve5tmehis lrtvÉstmentS 31e initially recognised at their transaction value 3nd subsequently measured at their m3rket V31ue as at the Balaiice Sheei date uslng the closlng quoted marker prlce. The Staiement of Financial Activiiies Includ Ihe net gains and losses arisin8 on revaluation and disp05415 throughout the year. 11 Reallsed 8alns and losses All gains and Ios5e5 3re taken to the St3tement of Financlal Activities as they arise. Realised gains and losses on Investmenis are calculared as the difference between sales proceeds and their opening carrying value or their purchase value if acqulred subsequent to the firsr dèy of the financial year, Unrealised Ealns and losses are calcu13ted as the diffÈrencÈ betsveen the fair v31ue at the year end and their Carrying value. Reali5ed and unr2ali5ed inve5tmentgains and losses are combined in the Statement of financial Activities. kl Fovelgn currency translatlon Transactions denominaed l*) foreign currencies are recorded at the rate of exchange ruling at the thte of the tr3nsaclions. Monetary assets and liabiliti denominated in foreign currencies are translated into sterling at year- end r2tes and translatlon difference5 are taken to the Staternent of Financial Activities, INCOME AND ENDOWMENTS 2024 2023 Investment Income Invesimeni Income- UK listed 619,338 91,489 573,173 103,006 Inve5ttnent Incorne- Oversea5 listed 710,817 113,5021 6,759 6?6,179 IL7.7491 S,856 le55.' Non recoverable and over5E35 tax Interest on cash dep05Its 7Q4,084 664,2S6 14
Society of the Helpers of the Holy Souls - A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at 31 t>èc@mber 2024 C05TOF RAISING FUNDS 2024 2023 InvestmÈnt maTha8ement tharges 66.481 65,469 ANALYSISOF CIIARITABLEACTIVITIE5 The Charlty underiakes Its charitable attNitie5 thwugh grant making and awarded 8rant5 to 2 numberof Institutlons In furtherance of its charitsblÈ oblectivÈs. Total Total 2023 Grant funded actlvlty Supportand goverMan£e costs 510.228 58.145 24,264 1,031.181 20,851 23,242 Charkable Activltles- Income Governance- income S92.637 1,075.274 Gran15 In furthewan¢e of chaFltable objectlves 2024 2023 Annual ¥rant5 ed for the rn31nteTran Jnd suwort of rel*lous hDu5es. and to ltsnd the Old Schoolhouse Community Projecvs OPEratlDllS 13 North Gyle Parl Edlnburgh Flat 20, Southworth House. Lawmenlei RetiremEntVillage 13 LlncolnA¥enue, Glasgow 81 St Mary'5 Road, Liverpool 1014 MovntAlvofnTa, Edinburgh 470Annlesland Road. Glas8OW 183 Dorche5ter Avenue. Glasgow 168Tarbock Road, Liverpool 5 Harmony Crescent, Edinburgh 14 Craigend ParL EdinburEh PronCe alc Generalate-No¥late House. Kenya The Oldschoolhouse CommunSty Prolect SHARE Knowsley 24AOO 18,ODD 6.500 12,4(X) 10,8(Kl 14,400 18,ODO 6,000 12.400 10.800 12.000 I2lx} 26,2LX) 24,000 4.800 10.781 318,tKJo 250,000 150.000 200,0(K) 18.928 211,OOD 170.000 510.228 I,031,1 RELATED PARTYTPANSACTIONS Karl Hart Is an employee and Ellzabeth Mary Kelly Is a Trustee of The Old Sthoolhou5e Cornrnunity Project. Grants were pald of £150,IJOO forthe year to 31 ember 2023. £150.OODlor the yÈar to 31 Dècember 2D24 and a further 8raTrt of £170.000 has IEen agreed forthe yearto 31 Detember2025.
Society of the Helpers of the Holy Souls- A Registered Charitv NOTES TO THE FINANCIAL STATEMENTS at 31 December 2024 ALLOCATION OF GOVERNANCE AND OTHER SUPPORT COSTS 2024 Char5table 2022 Charltable ActivitiÈs GovemancÈ ActlvitiÈs Govévnance UNRESTRICTED INCOME FUND Oepreciation of tangible 355ets Pioperty expendiiule AL*ditors' remuneration Accountancy and tax compliane Servi5 nk £h8rEes and sundry Insurance 7,037 36,161 7,145 6,588 17,676 6,270 16,972 1,194 13,753 1,077 12,629 58,145 24,264 20,851 23,242 TRUSTEE EXPENSES AND REMUNERATION The Trustee received no remuneration ill respect of the fin3nci31 year ended 31 December 202412023 ENIII. In the year none of the Dlrectors of the Trusteè Company were rÈlmkAJrsèd expenses12023 £NIII. FIXED ASSETS.. TAWGIBLE ASSETS Freéhold propertle5 statlc taravgns Total Cost At l January 2024 Addit¢ons 2,748,962 92.852 2,841,814 7,262 41,360 48,622 1191,9001 Disposals 1163,2501 128.6501 At 31 December 2024 2,592,974 105,562 2,698,536 DepTeclaiiD At l January 2024 Deprecl8tlon on Sale 176,954 126,9001 69,310 128.6501 7,037 246,264 155,5501 7,037 Prowded in ye8r At 31 DecEmber 2024 150,054 47.697 197,751 NÈt book value at 31 Detembei 2024 2.442,920 57.865 2,500,785 Net bookvalue at 31 Decernber 2021 2,572,8 23.542 2,595,550 No properties were purch35ed in 2024. (Two properties were purchased during the yearto 31 December 20231. 16
Society of the Helpers of the Holy Souls A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at 31 December 2024 FIXED ASSET INVESTMENTS UK and fo¥eign inve5tmpnt5 listed on a reiognised stock exchange. 2024 2023 Market V31ue ai 31 December 2023 Sèle proceeds of disposals Add.. acquisitions at cost Net gainslllos5e51 on revaluatlon and disposal 18,430,672 13,446,632) 2,892,870 1396,8221 17.908,909 11.340.354) 1.341,551 520,566 Market vÈlue at 31 Oe£eMber 2024 Cash held within the investment poitfollo 17,480,087 50,188 18,430,672 1,807 17,530,275 18,432,479 Hislorlcal cost at 31 Oecemkr 2024 16,073,214 16,3LNJ,639 Investments UK Ilsted 14,583,278 2,896,809 15,251,306 3,179,366 Overseas Ilsted 17.480,087 18,430,672 Th* followlng inveslments comprisÈ more 5% of the vilue of the investmènt porifolio., Name HoldlnE Market Value 81oomsbury Publishlng PIC 157,500 £1,061,550 Natwest Group PIC 237,482 E954.915 I&. DEBTOR 2024 2023 stockbrokers Cash due 438,900 lob. CASH AT BANK 2024 2028 Stockbrokers lthceme account Bank account 57,596 331,334 36,822 151,771 388.930 188.592
Society of the Helpers of the Holy Souls A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at 31 December 2024 11. LIABILITIES.. arnount5 falllng due wlthln one year al Accruals 2024 2023 Accrued expen5e5 41,186 45,372 h) OtheT creditors Other creditors CDmprise the value of assets transferred to the Charity by Sisters which will be refundable should any of the fallowing Sister5 leave the order or make a testamentar¥ di5P05Itioii. The Slsters and the amounts involved are a5 follows.. 2024 2023 O'Gradv b3yne Minards 54.000 5.000 22,000 8,000 54,000 22,000 Paterson 89,000 89,000 cl Grants 2024 2023 The Old khoolhouse Communlty Prolert Novlate House, KÈnya SHARE Knowsley 170,000 150,000 200.000 60.000 70,000 240,000 410,000 12. LIA&IUTIES: amovnts fallinE due afterone year 2024 2023 G¥ants SHARE KnoleY 70,(A)O 140,000 70,(X)O 140,000 13. VOLUNTEERS other than the Directors of theTrustee Company, the Ch2rlty retéives no contributionsfrom volunteers. 14. CAPITAL COMMITMENTS There are no capital commitments forthe year ended 31 DecÈmber 202412023.. £40,CQOI. 18
Society of the Helpers of the Holy Souls A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at 31 December 2024 IS. UNRESTRICTED FUMDS Total 2024 In¢ome 2024 Unrestrlcted funds comprise the fo51owln8'. Tangible assets Investnients Oeblors - Cash - Creditors 2.500.785 17.530,275 438,900 500,347 1551,6D31 Z,500,785 17,510,275 438,900 388,930 1440,1861 1111,4171 111,417 20,418.704 20,418,704 16. RECONCILIATION OF NET MOVEMENTS IN FUNDS TO NET CASH FLOW FROM OPEFIATING ACTIVITIE5 2024 2023 Net Movement in funds Its per the Statement of Fiwnci81 Activitlesl Depreclatlon charges IGainslllosses on Investments shown In Investing 3Ctivit125 IGainslllosses on sale of property (Gainsinosses on sale of trravan Deduct Investment income shown in InvtIllg activit%e5 Ilncreaselldetrease in debtors Intreaselldecreasel In creditors 1113,5461 7,037 396,822 1236,11101 11,5001 1704.0841 1438,9001 1244,1861 44,L09 7,145 1520,5661 1664,2861 363,242 Net cash provided by Iu5ed In) operatlng activit5es 11,355,167) 1770,3561 17. SUMMARY OF FUND MOVEMENTS Fund balances brou8ht forward Fund balances carrled forward Gains attd losse5 Fund Mame Income Expendlture Transfer5 Expendable eDdowrnent 20,532,250 166.4811 111,447 1158.5121 20,418,704 Income 704,084 1592.6371 1111,4471 Total Funds 20,532,250 704,084 1659.1181 1158,5121 20,418.704 The tr3t15fer bEtween fund5 represents the excess of income over èxpenditure during the yÈai. 19