2024-12-31-accounts - The Montfort Missionary Society

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Charity registration number: 241963

THE MONTFORT MISSIONARY SOCIETY TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

The Montfort Missionary Society Contents

	Page
Reference and Administrative Details	1
Trustees' Report	2—4
Independent Auditor's Report	5—6
Statement of Financial Activities	7
Comparative Statement of Financial Activities	8
Statement of Financial Position	9
Statement of Cash Flows	10
Notes to the Statement of Cash Flows	11
Notes to the Financial Statements	12—19
The following pages do not form part of the statutory accounts:
Detailed Statement of Financial Activities	20—21

The Montfort Missionary Society Reference and Administrative Details For The Year Ended 31 December 2024

Trustees	Fr. Richard Magararu (appointed 28/10/2024)
	Fr. John Flynn (appointed 28/10/2024)
	Fr. Balaswamy Kata
	Mr Aidan Murphy
Charity Number	241963
Principal Address	St. Josephs
	8 Lyndhurst Road
	Ashurst
	Southampton
	SO40 7DU
Accountants	Town & Forest
	Chartered Accountants & Statutory Auditors
	First Floor, New Barnes Mill
	Cottonmill Lane
	St Albans
	AL1 2HA
Auditors	Town & Forest
	Chartered Accountants & Statutory Auditors
	First Floor, New Barnes Mill
	Cottonmill Lane
	St Albans
	AL1 2HA

Page 1

The Montfort Missionary Society Trustees' Report For The Year Ended 31 December 2024

The trustees present their report and the financial statements for the year ended 31 December 2024.

Objectives and Activities

Basis of Preparation

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and the relevant version of the 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).

Aim and Purpose

The Montfort Missionary Society is an international religious order with a Great Britain and Ireland community attached to the Generalate in Rome. The Charity is administered by the Representative of the General Superior together with a Council consisting of three Trustees and the Representative being the fourth one. The trustees are named by the General Superior with the consent of his Council for a term usually of six, or three years at the beginning of his mandate. The Montfort Missionary Society ("the Charity"), is registered with the Charity Commission under No. 241963 and carries out the General Delegation's exclusively charitable activities, as well as holding its assets.

Policy, Objectives and Activities

It remains the policy of the Charity to continue its core central activities; the relief of suffering, maintaining one of the two pastoral centres it owns, together with providing and promoting positive Catholic social teaching.

The charity also has another pastoral centre in Liverpool but it is no longer functioning due to a lack of personnel and as we plan to sell the house.

The need for work undertaken by the Montfort Missionaries has perhaps never been greater than it is today. We are directly involved in providing practical community support across several key areas we operate in. In-deed, we continue to provide help and assistance to our communities not only in the UK, but also to those present in other countries, directly in Malawi, and indirectly through the Generalate present in Rome. Malawi has several unique challenges it faces, which the Montfort Charity here in the UK have been supporting for a good number of years.

The Charity also maintains and ensures the education and accompaniment of those candidates who wish to join the Montfort Missionary Society within UK or other Countries where Montfort Missionaries are present. The Charity also ensures the support of those priests of the Montfort Missionary Society who wish to learn English and to undertake specialised studies as Formators and Administrators. Formation is at the heart of what we set out to achieve; the results of which continue to provide much needed personnel to help even greater numbers of those in need moving forward.

Achievements and Performance

Main Achievements

The past few years have been very challenging for the Charity here in the UK. The Charity has fewer religious individuals it can call on these days, and this has in turn impacted what can be achieved overall. We continue to work closely in solidarity with other community interest groups, providing practical help for a foodbank, namely with personnel, making facilities and transport available. Although numbers have dropped within the Charity, everyone involved with the Montfort's has not lost focus on what the organisation stands for and those it aims to serve.

Fundraising activities to provide much needed educational opportunities for young people in Malawi remains a high priority. Re-distribution of household goods to those less fortunate in the communities we operate in continues to go from strength to strength.

The Charity has benefited from several religious members from other entities joining us here in the UK, in addition to several new volunteers; such personnel helping enormously with new projects and ensuring existing commitments are fulfilled.

Economic challenges in what the Charity can provide and sustain is perhaps one of the largest hurdles it faces at the present time. Rising utility costs, lower returns on investments and falling reliance on legacies coming into the Charity are real concerns. The ability of the Charity to carry out its mission is our primary focus, and we believe we are able to provide real support in the areas we are located.

We have been very fortunate over recent years in being able to call on other Montfort entities in other parts of the World, requesting support in terms of new personnel for the work undertaken within the UK Mission.

Page 2

The Montfort Missionary Society Trustees' Report (continued) For The Year Ended 31 December 2024

Financial Review

Reserves Policy

The commitment to provide for the care of members of the Great Britain and Ireland Community in sickness and old age has profound implications for the finances of the Society. Members of the Great Britain and Ireland Community have all taken a vow of poverty which mean that all rights to assets and income have been given up, generally in favour of the Community. Where members earn a salary, stipend or pension, this is paid into the charitable trust under a deed of covenant. In most cases members have devoted the whole of their working lives to the promoting of Charitiy's objectives and are dependent upon it for all their temporal needs. Although members invariably continue to perform charitable work long past normal retirement age, if they are healthy enough to do so, the work is often not remunerative and the Community must provide for their upkeep and in some cases nursing care. The total funds of the charity stand at a little over £5m. The Trustees consider this is sufficient for the Society's future needs.

Financial review

Although reserves have undoubtedly been reduced in recent years, until the current year, we have been fortunate in locating several new income streams. Investments, it is accepted, will not at present provide returns seen in previous years, though as the economy bounces back, we are hopeful our returns will also grow. The organisation continues to look at operation costs and may have to look at how best it manages certain locations. This year, employment costs have increased compared to 2023, and we believe this has been one area that has been effectively managed on behalf of the Charity.

Incoming resources of £2,694,821 showed an increase of £2,397,509 compared with 2023.

Resources expended of £580,060 increased by £79,388 compared with 2023.

Net gains on investments were £92,002 compared to £15,693 in 2023.

Net incoming resources were thus £2,206,763 against net outgoing resources of £187,667 in 2023.

Investments held at the end of the year totalled £372,718 (2023 - £700,959). Income from unlisted investments totalled £628 (2023 - £1,176).

Future Plans and Post Balance Sheet Events

We believe the Charity can continue to serve and provide spiritual support and guidance in all it undertakes. Religious members remain active in a number of dioceses across the country and together with others offer much needed pastoral support. We hope to expand activities in the coming years, encouraging greater use of the facilities we have and setting out a more detailed retreat programme moving forward.

In February 2026, the sale of freehold land at Romsey was completed for £26million which will have a positive impact on the available reserves moving forward for the Charity.

Structure, Governance and Management

Governing Document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. The Charity is also governed by the Constitutions and Statutes of the Congregation of the Montfort Missionaries keeping in mind the proper law of the Country.

Organisational structure

This is an area we do not anticipate to change over the forthcoming year. We are confident and we are also proactive in ensuring correct management decisions are taken within the organisation.

The financial management is run under the Directives of the Administration of the Temporal Goods of the Society and the laws of the Country.

Page 3

The Montfort Missionary Society Trustees. Report Icontinuedl For The Year Ended 31 Decernber 2024 stst8m8nt of Trust8e8' Respon5ibiliti05 The Iruslees are iesp0ft$ib for Pfeparing the Tru51ee5' Reporf and the financk81 statements in accordance with applicab law #ntl Unrted Kingdom Accounting Standard5 (United Kingdom Generaly ApIed Accounting Practice). The law applicabk lo ch8ri1*5 in EngLgTrJ and Wale5. the Charit$ Act 2011, Charity IAccounls and Reportsl Regulation$ 2008 antl the provisions of the trust deed require$ the Iruslees lo Ppare finanaal statement5 for each financpal year whith give a Irue and fair vvaw of the slate of affairs of the Gharity and of Ihe incoming resources and application of resource5. induding the inc¢xne and expenditure, of the chaTity for Ihat period. In preparing the financial st81ements the Irus1$ are reqUId to. sekct suitable accountin9 polirjes and then appty them consistenlty.. observe the melhods and principles in the Charity SORP.. make judgments and accounts.ng estimate5 that are reason¥bk and prudent, and prepar8 the financial statements on the 90ing conGeFn basis unl&s8 it is Inappropriats to presume that the charity wll ¢ontinue in businass. The Iruslees are r85pon5ibk for keeping adequate #¢counting rècords which discbs? with reasonab accuracy al anytime the financial Position of the charity and lo enable them to ensure that the accounts compty with the CharrtS Act 2011. the Charty IA¢counl$ and Reports) Regulations 2008 and the provision$ of the trust deed. They are a0 responsible for safeguarding Ihe a55et$ of the ¢harrty and hence for taking reasonabk slep5 for the prevention and dectIon of fraud and olher IrregularitS. The tru$tees' rèport was approved by the board oftwstees and 5HJned on $ b&haW by Re¥. Fr. Bal8$wamy Kata Trustee Dale 10 August 2026 Page 4

Independent Auditor's Report to the Members of The Montfort Missionary Society

Opinion

We have audited the financial statements of The Montfort Missionary Society (the "charity") for the year ended 31 December 2024 which comprise the Statement of Financial Activities (including Income and Expenditure Account), Statement of Financial Position, Statement of Cash Flows and the related notes, including a summary of 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 requirements of 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 12 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 trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 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 require us to report to you if, in our opinion:

the information given in the Trustees' Report is inconsistent in any material respect with the financial statements; or sufficient accounting records have not been kept; or

the financial statements are not in agreement with the accounting records or returns; or we have not received all the information and explanations we require for our audit.

Responsibilities of Trustees

As explained more fully in the Trustees' Responsibilities Statement set out on page 4, 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 liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Page 5

Independent Auditor's Report (continued) to the Members of The Montfort Missionary Society

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.

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

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to the Charities Act 2011 and FRS 102.

We assessed the risks of material misstatement in respect of fraud as follows: we made full enquiries with management and those charged with governance. As part of our fraud discussions we discussed particular areas we believed to be susceptible to misstatement. Also during our audit we paid particular attention to looking for any related party transactions, however there were no related party transactions in this entity.

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

Use Of Our Report

This report is made solely to the charity's trustees, as a body, in accordance with 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 that 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.

Zara Dunster FCA (Senior Statutory Auditor)

Date 12 August 2026

Zara Dunster FCA (Senior Statutory Auditor) Town & Forest First Floor, New Barnes Mill Cottonmill Lane St Albans AL1 2HA

Page 6

The Montfort Missionary Society Statement of Financial Activities For The Year Ended 31 December 2024

Unrestricted funds £ 2,690,623 628 -	Restricted funds £ 3,570 - -	2024 Total funds £ 2,694,193 628 -	2023 Total funds £ 138,133 1,176 158,003
2,691,251	3,570	2,694,821	297,312
(534,158) (3,269) (42,633)	- - -	(534,158) (3,269) (42,633)	(455,063) (4,661) (40,948)
(580,060)	-	(580,060)	(500,672)
2,111,191 92,002	3,570 -	2,114,761 92,002	(203,360) 15,693
2,203,193 3,570	3,570 (3,570)	2,206,763 -	(187,667) -
2,206,763 2,855,054	- -	2,206,763 2,855,054	(187,667) 3,042,721
5,061,817	-	5,061,817	2,855,054

The notes on pages 11 to 19 form part of these financial statements.

Page 7

The Montfort Missionary Society Comparative Statement of Financial Activities For The Year Ended 31 December 2024

Unrestricted funds £ 138,133 1,176 158,003	Restricted funds £ - - -	2023 Total funds £ 138,133 1,176 158,003
297,312	-	297,312
(455,063) (4,661) (40,948)	- - -	(455,063) (4,661) (40,948)
(500,672)	-	(500,672)
(203,360) 15,693	- -	(203,360) 15,693
(187,667) 47,980	- (47,980)	(187,667) -
(139,687) 2,994,741	(47,980) 47,980	(187,667) 3,042,721
2,855,054	-	2,855,054

The notes on pages 11 to 19 form part of these financial statements.

Page 8

The Montfort Missionary Society Statement of Cash Flows For The Year Ended 31 December 2024

Notes Cash flows from operating activities Net cash used in operations 1 Net cash used in operating activities Cash flows from investing activities Purchase of tangible assets Proceeds from disposal of tangible assets Proceeds from disposal of other fixed asset investments Interest received Net cash generated from investing activities Decrease in cash and cash equivalents Cash and cash equivalents at beginning of year 2 Cash and cash equivalents at end of year 2	2024 £ (399,753) (399,753) (27,000) - 394,351 628 367,979 (31,774) 90,874 59,100	2023 £ (320,653)
		(320,653)
		(10,213) 191,595 104,229 1,176
		286,787

		(33,866) 124,740
		90,874

Page 10

The Montfort Missionary Society Notes to the Statement of Cash Flows For The Year Ended 31 December 2024

1. Reconciliation of income/(expenditure) to cash used in operations

. Reconciliation of income/(expenditure) to cash used in operations
Net income/(expenditure) Adjustments for: Interest income Depreciation of tangible assets Loss/(profit) on disposal of tangible assets Net fair value (gains)/losses recognised in profit or loss Movements in working capital: Increase in trade and other debtors Decrease in trade and other creditors Net cash used in operations	2024 £ 2,206,763 (628) 42,019 614 (66,110) (2,578,302) (4,109) (399,753)	2023 £ (187,667) (1,176) 40,825 (157,880) 1,491 (2,475) (13,771)
		(320,653)

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

2024 £ Cash at bank and in hand 59,100 . Analysis of changes in net funds As at 1 January 2024 Cash flows £ £ Cash at bank and in hand 90,874 (31,774)	2023 £ 90,874
	As at 31 December 2024 £ 59,100

Analysis of changes in net funds

Page 11

The Montfort Missionary Society Notes to the Financial Statements For The Year Ended 31 December 2024

1. General Information

The Montfort Missionary Society is an unincorporated charity registered with the Charity Commission, registered charity number 241963. The principal address is St. Josephs, 8 Lyndhurst Road, Ashurst, Southampton, SO40 7DU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The accounts (financial statements) have been prepared in accordance with the relevant version of the 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) and the Charities Act 2011 and UK Generally Accepted Accounting Practice. The accounts (financial statements) have been prepared to give a ‘true and fair’ view and 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 relevant version of the 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) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

They are prepared on the historical cost basis of accounting as modified to include the revaluation of fixed assets including investments which are carried at market value.

2.2. Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.3. Incoming Resources

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

2.4. Resources Expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold 2% on cost Long Leasehold 2% on cost Plant & Machinery 15% on reducing balance Motor Vehicles 25% on cost Fixtures & Fittings 15% on reducing balance Computer Equipment Straight line over 3 years

The charity has adopted a policy of not capitalising assets which have an original cost of less than £50. Items below this figure are treated as repairs and renewals.

2.6. Investments

Investments are shown in the financial statements at the market value at 31 December. Movements on assets held in foreign currencies are converted to sterling at the exchange rate prevailing at the date of transaction, and the closing balance is based on the exchange rate at the year end. All profits or losses on exchange are realised at the year end. All gains or losses on the revaluation of investment assets are shown in the SOFA.

Page 12

The Montfort Missionary Society Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.8. Financial Instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in the statement of financial activities. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the statement of financial activities.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

2.9. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating surplus.

2.10. Taxation

The charity is exempt from tax on its charitable activities.

2.11. Pensions

The charity operates a defined pension contribution scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.

3. Investment Income

Bank interest receivable 4. Other Income Gain on disposal of tangible fixed assets held for charity's own use	2024 Unrestricted funds £ 628	2023 Unrestricted funds £ 1,176
	2024 Unrestricted funds £ -	2023 Unrestricted funds £ 158,003

Page 13

The Montfort Missionary Society Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

5. Net Income/(Expenditure)

The net income/(expenditure) is stated after charging/(crediting):

he net income/(expenditure) is stated after charging/(crediting):
	2024	2023
	£	£
Depreciation of tangible fixed assets - owned	42,019	40,825
Gain/Loss on disposal of tangible fixed assets	614	(157,880)

6. Analysis of Expenditure

Activities undertaken directly £ 102,711 3,269 -	Support costs (see note 7) £ 431,447 - 42,633	2024 Total £ 534,158 3,269 42,633
105,980	474,080	580,060
Activities undertaken directly £ 85,488 4,661 -	Support costs (see note 7) £ 369,575 - 40,948	2023 Total £ 455,063 4,661 40,948
90,149	410,523	500,672
Other trading activities £ 95,036 104,402 231,946 - 63	Other £ - - - 42,633 -	2024 Total £ 95,036 104,402 231,946 42,633 63
431,447	42,633	474,080

7. Support Costs

Page 14

The Montfort Missionary Society Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

Employee costs Premises expenses General administration Depreciation Interest payable	Other trading activities £ 76,607 106,121 186,753 - 94	Other £ - - - 40,948 -	2023 Total £ 76,607 106,121 186,753 40,948 94
	369,575	40,948	410,523

Auditor's Remuneration

Remuneration received by the charity's auditors and their associates during the year was as follows:

Audit Services Audit of the company's financial statements . Staff Costs taff costs were as follows: Wages and salaries Social security costs Other pension costs	2024 £ 10,800 2024 £ 89,352 3,565 2,119 95,036	2023 £ 12,000
		2023 £ 73,348 1,527 1,732
		76,607

9 S	. Staff Costs taff costs were as follows:

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.

Average Number of Employees

Average number of employees during the year was as follows:

verage number of employees during the year was as follows:
Charitable Activities	2024 3 3	2023 3
		3

Page 15

The Montfort Missionary Society Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

11. Tangible Assets

Land & Property

Freehold £ 1,261,283 - -	Long Leasehold £ 1,643,823 - -	Plant & Machinery £ 6,189 - -	Motor Vehicles £ 34,589 27,000 -
1,261,283	1,643,823	6,189	61,589
354,649 20,767 -	487,376 17,642 -	4,424 265 -	29,025 3,078 -
375,416	505,018	4,689	32,103
885,867	1,138,805	1,500	29,486
906,634	1,156,447	1,765	5,564
	Fixtures & Fittings £ 74,653 - (67,511)	Computer Equipment £ 5,900 - (3,795)	Total £ 3,026,437 27,000 (71,306)
	7,142	2,105	2,982,131
	72,399 261 (66,996)	5,784 6 (3,696)	953,657 42,019 (70,692)
	5,664	2,094	924,984
	1,478	11	2,057,147
	2,254	116	2,072,780

Page 16

The Montfort Missionary Society Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

12. Investments

Cost or Valuation As at 1 January 2024 Revaluations Transfers Other As at 31 December 2024 Provision As at 1 January 2024 As at 31 December 2024 Net Book Value As at 31 December 2024 As at 1 January 2024 he unlisted investment assets represents the charity's share of the Vice Province of Great Britain and Ireland held in Rome. 3. Debtors 2024 £ Due within one year Prepayments and accrued income 2,605,078 Net wages 658 2,605,736 4. Creditors: Amounts Falling Due Within One Year 2024 £ Trade creditors 5,999 Other taxes and social security 1,949 Other creditors - Accruals 24,936 32,884	Unlisted £ 700,959 66,110 (391,082) (3,269)
	372,718
	-
	-
	372,718
	700,959
	2023 £ 27,434 -
	27,434
	2023 £ - 1,880 3,570 31,543
	36,993

The unlisted investment assets represents the charity's share of the Vice Province of Great Britain and Ireland held in Rome.

13. Debtors

14. Creditors: Amounts Falling Due Within One Year

15. Contingent Assets

The charity is entitled to receive a legacy from the estate of Mr B Cunningham, of which £2,570,683 in legacy income has been accrued in the year ended 31 December 2024. The trustees estimate the entire estate to be worth around £3 - £4 million, including a house which has not yet been sold, however the remaining estate cannot yet be measured reliably and there is some uncertainty as to the amounts to be received, therefore this has not yet been recognised in the statement of financial activities.

Page 17

The Montfort Missionary Society Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

16. Pension Commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.

During the year, the charge to the statement of financial activities in respect of defined contribution schemes was £2,119 (2023: £1,732).

At the statement of financial position date contributions of £nil (2023: £nil) were due to the fund.

17. Movement in Funds

As at 1 January 2024 £ 2,855,054 -	Income £ 2,691,251 3,570	Expenditure £ (488,058) -	Transfers £ 3,570 (3,570)	As at 31 December 2024 £ 5,061,817 -
2,855,054	2,694,821	(488,058)	-	5,061,817
As at 1 January 2023 £ 2,994,741 47,980	Income £ 297,312 -	Expenditure £ (484,979) -	Transfers £ 47,980 (47,980)	As at 31 December 2023 £ 2,855,054 -
3,042,721	297,312	(484,979)	-	2,855,054

18. Post Balance Sheet Events

In February 2026, the sale of freehold land at Romsey was completed for £26million.

19. Transactions with Trustees

The total remuneration paid to trustees in respect of remuneration for the year ended 31 December 2024 was £31,008 (2023: £28,420).

The other trustees, who are members of the community, receive food, accommodation and clothing as part of their normal community living. In addition, they have access to motoring and travelling facilities directly related to the conduct of their charitable activities.

During the year, the expenses reimbursed to the trustees or paid directly to third parties were as follows:

	2024	2023
	£	£
Other Expenses	1,360		32

Page 18

The Montfort Missionary Society Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

20. Related Party Disclosures

There were related party transactions in the year as well as in 2023 of salaries and expenses paid to Aidan Murphy, as detailed in note 18.

There were no other related party transactions for the year ended 31 December 2024.

21. Ex-gratia payment

During the year ended 31 December 2024, the charity made an ex-gratia payment of £50,000 to Fr D Connolly, a former trustee of the charity. The payment was made, following the approval of all trustees, to cover the individual's pension contributions whilst serving the charity over a number of years following his departure from the charity in 2023.

21. Designated Funds

The trustees have designated funds out of the unrestricted funds as follows:

Fixed Assets Fund

In order to fulfil its charitable objectives the Society needed a large number of properties. These properties, although they are unrestricted assets cannot be realised without undermining the Society's work and the trustees therefore feel that it is appropriate to reflect the investment in fixed assets by means of a designated fund.

Support of Older Members Fund

A fund has been designated in respect of the Charity's commitment to provide for the retirement of the Society's members and the services they continue to perform when remunerative activity has ceased. The fund also provides for care of Society members in old age and sickness. Actuarial calculations in 2002 showed that a secure fund of at least £4.5m (at today 's values) would be needed as many Society members had no pensions or pension rights. The Trustees have reviewed this fund to ensure it is adequate but not excessive and in consideration of a declining number of members have reduced it at the year end.

Page 19

The Montfort Missionary Society Detailed Statement of Financial Activities For The Year Ended 31 December 2024

INCOME AND ENDOWMENTS FROM: Donations and legacies Donations and legacies Gift aid Members' salaries and pension Other income Investments Bank interest receivable Other Gain on sale of tangible fixed assets EXPENDITURE ON: Charitable Activities: Other trading activities Mission donations Ex-gratia payments Wages and salaries Employers NI Employers pensions - defined contributions scheme Houses: Rent Houses: Rates Houses: Energy Houses: Repairs and maintenance Houses: Equipment maintenance Houses: Motor expenses Houses: Food Houses: Household Houses: Personal Houses: Recreation Houses: Travel Computer costs Insurance Printing, postage and stationery Montfort press expenditure Carriage and freight Telephone Audit fees Accountancy fees	2024 Total funds £ 2,628,481 4,475 11,731 49,506	2023 Total funds £ 64,347 10,591 10,256 52,939 138,133 1,176 1,176 158,003 158,003 297,312 (85,488) - (73,348) (1,527) (1,732) (37) (13,659) (53,645) (21,717) (17,063) (17,703) (18,263) (3,877) (5,106) (11,198) (15,030) (3,036) (17,811) (1,649) (293) - (9,000) (12,000) (13,265) ...CONTINUED
	2,694,193 628
	628 -
	-
	2,694,821 (52,711) (50,000) (89,352) (3,565) (2,119) (213) (16,018) (55,083) (22,244) (10,844) (16,893) (9,779) (418) (3,329) (5,420) (6,091) (2,356) (19,039) (787) - (5,295) (14,947) (10,800) (11,784)

Page 20

The Montfort Missionary Society Detailed Statement of Financial Activities (continued) For The Year Ended 31 December 2024

Legal fees Professional fees Consultancy fees Exchange losses Nursing fees Subscriptions and fees Sundry expenses Fines and penalties Catering for functions Masses Said Bank charges Paypal fees Late payment interest Investment management costs Portfolio management Other Depreciation of plant and machinery Depreciation of motor vehicles Depreciation of fixtures and fittings Depreciation of computer equipment Depreciation of freehold land and property Depreciation of leasehold land and property Loss on disposal of tangible fixed assets NET INCOME/(EXPENDITURE) BEFORE INVESTMENT GAINS/(LOSSES) Net gains on investments Realised surplus on revaluation of investments NET INCOME/(EXPENDITURE)	(12,642) (6,082) (3,981) (34,004) (65,089) (1,276) (1,349) - - (585) (63) - -	(8,899) (3,000) (7,493) (17,346) - (5,052) (14,172) (160) (2,400) - (59) (32) (3)
	(534,158) (3,269)	(455,063) (4,661)
	(3,269) (265) (3,078) (261) (6) (20,767) (17,642) (614)	(4,661) (311) (1,854) (398) (58) (20,562) (17,642) (123)
	(42,633)	(40,948)
	(580,060)	(500,672)
	2,114,761 92,002	(203,360) 15,693
	92,002	15,693
	2,206,763	(187,667)

Page 21

MONTFORT MISSIONARIES SOCIETAS MARIAE MONTFORTANA COMMUNITY OF GREAT BRITAIN AND IRELAND Town & Forest Chartered Actountants & Statutory Auditors First Floor, New Barnes Mlll Cottonmill Lane St Albans ALI 2HA Date: 2e Dear Sirs, The Monrfort Missiona Letter of Re resentation Audlt of the Financial Statements for the Year Ended 31 December 2024 This representation is provided in connectlon with your audit of the financial statements, noted above, in accordance with the Charities Act 2011 and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable In the UK and Republic of Ireland,. We have made appropriate and sufficient enquiries Ilncluding. where appropriate. inspertion of supporting documentation) of the other trustees, management, staff and others with relevant knowledge and experience of the charity. These enquiries were sufficient to satisfy ourselves that we can properly make each of the following representations to you in connection with the above audit. GENERAL We have fulfilled our responsibilities as set out in the terms of the audit engagement dated 4 March 2026 for the preparation of the financial statements in accordance with Financial Reporting Standards, in particular the financial statements give a true and fair view in accordance therewith. The methods, data and significant assumptions used by us in making accounting estimates, and their related disc105ure5, are appropriate to achieve recognition, measurement and disclosure that is reasonable in the context of the applicable financial reporting framework.

We also acknowledge our responsibility for making accurate representations to you. We have provided you with additional information that you have requested and provided unrestricted access to persons within the charity from whom you determined it necessary to obtain audit evidence. Proper disclosure has been made in the financial statements of all matters necessary in order for them to show a true and fair view. SO far a5 we are aware such statements are free of material misstatements, including omissions. All the accounting records and relevant information have been made available to you for the purpose of your audit and all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records or other information provided to you. All other records and related information. including minutes of management and shareholders meetings, have been made available to you and no information which we believe could, or should, cause you to modify your opinion has been withheld from you. We have no plans or intentions that may materially affect the carrying value land, where relevant, the fair value measurements) or classification of assets and liabilities. All asset5 disclosed in the financial statement5 were the property of the charity at the balance sheet date and all such assets have been disclosed. There were no charges or encumbrances upon any assets of the charity. We confirm the unlisted investments balance of £372,718.06 at 31 December 2024 to be correct and recoverable. We confirm the existence and good condition of the following tangible fixed assets and freehold properties held by the charity at 31 Dember 2024.. Ford Transit GF57NPJ BARRHEAD, Montfort House ROMSEY, Lodge Farm We anticipate that all current assets will realise in the ordinary course of the charity's business at least the amounts at which they are stated. In particular, we believe adequate provision has been made against all amounts owing to the charity which are known or may be expected to be irrecoverable We confirm the gift aid debtor balance of £15,066 at 31 December 2024 to be correct and recoverable. We confirm that the following bank accounts are in the charity name and that the following balances were correct at 31 December 2024.. Allied Irish Bank Paypal E820.74 £165.52 We are not aware of any capital commitments.

LIA81LITIES AND PROVISIONS In our opinion, significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable. Those estimates reflect our judgement based on our knowledge and experience of past and present events, and are also based on our assumptions on the conditions we anticipate will exist together with the courses of action we intend to take. In that regard, in the opinion of the trustee's adequate provisions have been made. We are not aware of any Substantial liabilities, contingent liabilities or guarantees to third parties. OTHER MAThERS At no time during the period ha5 the charity had any arrangement, transartion or agreement to provide credit facilities (including loans, quasi-loans or credit transactionsl for the trustees nor to guarantee or provide security for such matters other than as indicated in the financial statements. There were no purchase commitments in excess of normal requirements or at prices in excess of the prevailing market price, nor agreements to purchase items previously 501d. There is no litigation in progre55, or pending. We have considered all known actual or possible litigation and claims whose effects should be considered when preparing the financial statement5 and these have been disclosed in accordance with accounting standards. The charity has complied with all aspects of contractual agreements that could have a material effect on the financial statements in the event of non-compliance. The charity has not entered into any guarantees. warranties or other financial commitments relating to associated entities. We understand the desirability of obtaining pald cheques which have been cleared by the bank, particularly as a safeguard against certain types of fraud or irregularity. However, due to the high charges imposed by banks when retrieving such cheques, we have requested that you omit any testing in relation to this area on costlbenefit grounds. We believe that the controls we have in place over the writing and handling of cheques are sufficient for the size and nature of the charity. We have reviewed the schedule of errors prepared by you, a copy of which is attached to this letter. This schedule contains those errors that have been adjusted together with those that remain uncorrected. We understand thot these latter are errors that came to your attention during the course of your routine audlt work and are those that you do not consider need to be adjusted as their individual and cumulative effect is not material. Having carefully considered these errors we concur with your view and do not propose to adjust the financial statements. FRAUD, GOING CONCERN. SUBSEQUENT EVENTS AND RELATED PARTIES No events or transactions have occurred since the period end, or are pendin& which we believe could have a material effect on the financial statements or which are of such significarice in relation to the charit5 affairs that they should be mentioned in the financial statements in order to avoid giving a misleading view of the financial position.

We acknowledge our responsibility for the design and implementation of internal control to prevent and detect error and fraud. We have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud. We confirm that no shortages, irregularities or misappropriations of a material amount were discovered by us during the period under review. There have been no irregularities (actual or allegedl involving management or employees who have a significant role in internal control or others who could have a material effect on the financial statements. We confirm that we are not aware of any actual or potential instance of non-compliance with those laws and regulations that provide a legal framework within which, and are central to the way in which, the entity conducts its business. We have made appropriate enquiries and confirm that we have disclosed to you all related parties and related party relationships and transactions relevant to the charity of which we are aware. To the best of our knowledge the financial statements appropriately account for and disclose such relationship5 and transactions. In our opinion, on the basis of information and enqulries that are pertinent to the charitI5 circumstarsces and which we believe to be adequate, it is appropriate to continue to treat the charity as a going concern. In particular we believe that adequate cash resources will be available to cover the chariws requirements for working capital for at least twelve months from the date of signing the financial statements. We also confirm our plans for future actions required to enable the charity to continue as a going concern are feasible. We confirm that any disclosures in the financial statements are on accurate reflection of the reasons why we consider they should be drawn up on a going concern basis. ADDITIONAL MATTERS We confirm that in our opinion, there is no relevant audit information needed by you in connection with preparing your audit report of which you are unaware. Each trustee has taken all the steps that ought to be taken as a trustee in order to obtain awareness of any relevant audit information and to establish that you are aware of that information. Yours faithfully. Trustee Signed on behalf of the board

Appendix SCHEDULE OF UNCORRECTED ERRORS This table summarises the journals that would be necessary to correct the errors distovefed in the course of routine audit work. These errors have not been corrected. In our view corrertion is not necessary in order that the financial statements show a true and fair view. Nevertheless you might wish to correct, some or all of the errors. Correrting Journal Dr Cr Gas Legal Fees Accruals Being the journol to record uccruJ15fDr the year ended 31.12.2024 3,023.41 2,509.80 Dr 5,233.21

Appendix SCHEDULE OF CORRECTED ERRORS The following is a list of errors that came to our attention during the course of our routine audit work. These errors have been corrected and are summarised for information orily. Correcting Journal Dr Cr Dr Dr Exchange Gains/lLossesl Unlisted investments Transfers Unlisted investments Exchange gain/losses Mission Donations Being the journal to agree the volue of investments ot 31.12.2024 21.542.62 4,481.93 21.542.62 4,481.93 Cr Dr Cr Accrued intome - legacies Legacies Being the 820,683.23 820,683.23 ournol to update the legacy income due at 31.12.2024

Charity registration number: 241963

THE MONTFORT MISSIONARY SOCIETY TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

The Montfort Missionary Society Contents

	Page
Reference and Administrative Details	1
Trustees' Report	2—4
Independent Auditor's Report	5—6
Statement of Financial Activities	7
Comparative Statement of Financial Activities	8
Statement of Financial Position	9
Statement of Cash Flows	10
Notes to the Statement of Cash Flows	11
Notes to the Financial Statements	12—19
The following pages do not form part of the statutory accounts:
Detailed Statement of Financial Activities	20—21

The Montfort Missionary Society Reference and Administrative Details For The Year Ended 31 December 2024

Trustees	Fr. Richard Magararu (appointed 28/10/2024)
	Fr. John Flynn (appointed 28/10/2024)
	Fr. Balaswamy Kata
	Mr Aidan Murphy
Charity Number	241963
Principal Address	St. Josephs
	8 Lyndhurst Road
	Ashurst
	Southampton
	SO40 7DU
Accountants	Town & Forest
	Chartered Accountants & Statutory Auditors
	First Floor, New Barnes Mill
	Cottonmill Lane
	St Albans
	AL1 2HA
Auditors	Town & Forest
	Chartered Accountants & Statutory Auditors
	First Floor, New Barnes Mill
	Cottonmill Lane
	St Albans
	AL1 2HA

Page 1

The Montfort Missionary Society Trustees' Report For The Year Ended 31 December 2024

The trustees present their report and the financial statements for the year ended 31 December 2024.

Objectives and Activities

Basis of Preparation

Aim and Purpose

Policy, Objectives and Activities

The charity also has another pastoral centre in Liverpool but it is no longer functioning due to a lack of personnel and as we plan to sell the house.

Achievements and Performance

Main Achievements

Page 2

The Montfort Missionary Society Trustees' Report (continued) For The Year Ended 31 December 2024

Financial Review

Reserves Policy

Financial review

Incoming resources of £2,694,821 showed an increase of £2,397,509 compared with 2023.

Resources expended of £580,060 increased by £79,388 compared with 2023.

Net gains on investments were £92,002 compared to £15,693 in 2023.

Net incoming resources were thus £2,206,763 against net outgoing resources of £187,667 in 2023.

Investments held at the end of the year totalled £372,718 (2023 - £700,959). Income from unlisted investments totalled £628 (2023 - £1,176).

Future Plans and Post Balance Sheet Events

In February 2026, the sale of freehold land at Romsey was completed for £26million which will have a positive impact on the available reserves moving forward for the Charity.

Structure, Governance and Management

Governing Document

Organisational structure

This is an area we do not anticipate to change over the forthcoming year. We are confident and we are also proactive in ensuring correct management decisions are taken within the organisation.

The financial management is run under the Directives of the Administration of the Temporal Goods of the Society and the laws of the Country.

Page 3

Independent Auditor's Report to the Members of The Montfort Missionary Society

Opinion

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 requirements of the Charities Act 2011.

Basis for 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.

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

Other Information

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

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 require us to report to you if, in our opinion:

the information given in the Trustees' Report is inconsistent in any material respect with the financial statements; or sufficient accounting records have not been kept; or

the financial statements are not in agreement with the accounting records or returns; or we have not received all the information and explanations we require for our audit.

Responsibilities of Trustees

Page 5

Independent Auditor's Report (continued) to the Members of The Montfort Missionary Society

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.

Use Of Our Report

Zara Dunster FCA (Senior Statutory Auditor)

Date 12 August 2026

Zara Dunster FCA (Senior Statutory Auditor) Town & Forest First Floor, New Barnes Mill Cottonmill Lane St Albans AL1 2HA

Page 6

The Montfort Missionary Society Statement of Financial Activities For The Year Ended 31 December 2024

Unrestricted funds £ 2,690,623 628 -	Restricted funds £ 3,570 - -	2024 Total funds £ 2,694,193 628 -	2023 Total funds £ 138,133 1,176 158,003
2,691,251	3,570	2,694,821	297,312
(534,158) (3,269) (42,633)	- - -	(534,158) (3,269) (42,633)	(455,063) (4,661) (40,948)
(580,060)	-	(580,060)	(500,672)
2,111,191 92,002	3,570 -	2,114,761 92,002	(203,360) 15,693
2,203,193 3,570	3,570 (3,570)	2,206,763 -	(187,667) -
2,206,763 2,855,054	- -	2,206,763 2,855,054	(187,667) 3,042,721
5,061,817	-	5,061,817	2,855,054

The notes on pages 11 to 19 form part of these financial statements.

Page 7

The Montfort Missionary Society Comparative Statement of Financial Activities For The Year Ended 31 December 2024

Unrestricted funds £ 138,133 1,176 158,003	Restricted funds £ - - -	2023 Total funds £ 138,133 1,176 158,003
297,312	-	297,312
(455,063) (4,661) (40,948)	- - -	(455,063) (4,661) (40,948)
(500,672)	-	(500,672)
(203,360) 15,693	- -	(203,360) 15,693
(187,667) 47,980	- (47,980)	(187,667) -
(139,687) 2,994,741	(47,980) 47,980	(187,667) 3,042,721
2,855,054	-	2,855,054

The notes on pages 11 to 19 form part of these financial statements.

Page 8

The Montfort Missionary Society Statement of Cash Flows For The Year Ended 31 December 2024

Notes Cash flows from operating activities Net cash used in operations 1 Net cash used in operating activities Cash flows from investing activities Purchase of tangible assets Proceeds from disposal of tangible assets Proceeds from disposal of other fixed asset investments Interest received Net cash generated from investing activities Decrease in cash and cash equivalents Cash and cash equivalents at beginning of year 2 Cash and cash equivalents at end of year 2	2024 £ (399,753) (399,753) (27,000) - 394,351 628 367,979 (31,774) 90,874 59,100	2023 £ (320,653)
		(320,653)
		(10,213) 191,595 104,229 1,176
		286,787

		(33,866) 124,740
		90,874

Page 10

The Montfort Missionary Society Notes to the Statement of Cash Flows For The Year Ended 31 December 2024

1. Reconciliation of income/(expenditure) to cash used in operations

. Reconciliation of income/(expenditure) to cash used in operations
Net income/(expenditure) Adjustments for: Interest income Depreciation of tangible assets Loss/(profit) on disposal of tangible assets Net fair value (gains)/losses recognised in profit or loss Movements in working capital: Increase in trade and other debtors Decrease in trade and other creditors Net cash used in operations	2024 £ 2,206,763 (628) 42,019 614 (66,110) (2,578,302) (4,109) (399,753)	2023 £ (187,667) (1,176) 40,825 (157,880) 1,491 (2,475) (13,771)
		(320,653)

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

2024 £ Cash at bank and in hand 59,100 . Analysis of changes in net funds As at 1 January 2024 Cash flows £ £ Cash at bank and in hand 90,874 (31,774)	2023 £ 90,874
	As at 31 December 2024 £ 59,100

Analysis of changes in net funds

Page 11

The Montfort Missionary Society Notes to the Financial Statements For The Year Ended 31 December 2024

1. General Information

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

They are prepared on the historical cost basis of accounting as modified to include the revaluation of fixed assets including investments which are carried at market value.

2.2. Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.3. Incoming Resources

2.4. Resources Expended

2.5. Tangible Fixed Assets and Depreciation

The charity has adopted a policy of not capitalising assets which have an original cost of less than £50. Items below this figure are treated as repairs and renewals.

2.6. Investments

Page 12

The Montfort Missionary Society Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

2.7. Cash and Cash Equivalents

2.8. Financial Instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Debt instruments are subsequently measured at amortised cost.

2.9. Foreign Currencies

2.10. Taxation

The charity is exempt from tax on its charitable activities.

2.11. Pensions

The charity operates a defined pension contribution scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.

3. Investment Income

Bank interest receivable 4. Other Income Gain on disposal of tangible fixed assets held for charity's own use	2024 Unrestricted funds £ 628	2023 Unrestricted funds £ 1,176
	2024 Unrestricted funds £ -	2023 Unrestricted funds £ 158,003

Page 13

The Montfort Missionary Society Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

5. Net Income/(Expenditure)

The net income/(expenditure) is stated after charging/(crediting):

he net income/(expenditure) is stated after charging/(crediting):
	2024	2023
	£	£
Depreciation of tangible fixed assets - owned	42,019	40,825
Gain/Loss on disposal of tangible fixed assets	614	(157,880)

6. Analysis of Expenditure

Activities undertaken directly £ 102,711 3,269 -	Support costs (see note 7) £ 431,447 - 42,633	2024 Total £ 534,158 3,269 42,633
105,980	474,080	580,060
Activities undertaken directly £ 85,488 4,661 -	Support costs (see note 7) £ 369,575 - 40,948	2023 Total £ 455,063 4,661 40,948
90,149	410,523	500,672
Other trading activities £ 95,036 104,402 231,946 - 63	Other £ - - - 42,633 -	2024 Total £ 95,036 104,402 231,946 42,633 63
431,447	42,633	474,080

7. Support Costs

Page 14

The Montfort Missionary Society Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

Employee costs Premises expenses General administration Depreciation Interest payable	Other trading activities £ 76,607 106,121 186,753 - 94	Other £ - - - 40,948 -	2023 Total £ 76,607 106,121 186,753 40,948 94
	369,575	40,948	410,523

Auditor's Remuneration

Remuneration received by the charity's auditors and their associates during the year was as follows:

Audit Services Audit of the company's financial statements . Staff Costs taff costs were as follows: Wages and salaries Social security costs Other pension costs	2024 £ 10,800 2024 £ 89,352 3,565 2,119 95,036	2023 £ 12,000
		2023 £ 73,348 1,527 1,732
		76,607

9 S	. Staff Costs taff costs were as follows:

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.

Average Number of Employees

Average number of employees during the year was as follows:

verage number of employees during the year was as follows:
Charitable Activities	2024 3 3	2023 3
		3

Page 15

The Montfort Missionary Society Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

11. Tangible Assets

Land & Property

Freehold £ 1,261,283 - -	Long Leasehold £ 1,643,823 - -	Plant & Machinery £ 6,189 - -	Motor Vehicles £ 34,589 27,000 -
1,261,283	1,643,823	6,189	61,589
354,649 20,767 -	487,376 17,642 -	4,424 265 -	29,025 3,078 -
375,416	505,018	4,689	32,103
885,867	1,138,805	1,500	29,486
906,634	1,156,447	1,765	5,564
	Fixtures & Fittings £ 74,653 - (67,511)	Computer Equipment £ 5,900 - (3,795)	Total £ 3,026,437 27,000 (71,306)
	7,142	2,105	2,982,131
	72,399 261 (66,996)	5,784 6 (3,696)	953,657 42,019 (70,692)
	5,664	2,094	924,984
	1,478	11	2,057,147
	2,254	116	2,072,780

Page 16

The Montfort Missionary Society Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

12. Investments

Cost or Valuation As at 1 January 2024 Revaluations Transfers Other As at 31 December 2024 Provision As at 1 January 2024 As at 31 December 2024 Net Book Value As at 31 December 2024 As at 1 January 2024 he unlisted investment assets represents the charity's share of the Vice Province of Great Britain and Ireland held in Rome. 3. Debtors 2024 £ Due within one year Prepayments and accrued income 2,605,078 Net wages 658 2,605,736 4. Creditors: Amounts Falling Due Within One Year 2024 £ Trade creditors 5,999 Other taxes and social security 1,949 Other creditors - Accruals 24,936 32,884	Unlisted £ 700,959 66,110 (391,082) (3,269)
	372,718
	-
	-
	372,718
	700,959
	2023 £ 27,434 -
	27,434
	2023 £ - 1,880 3,570 31,543
	36,993

The unlisted investment assets represents the charity's share of the Vice Province of Great Britain and Ireland held in Rome.

13. Debtors

14. Creditors: Amounts Falling Due Within One Year

15. Contingent Assets

Page 17

The Montfort Missionary Society Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

16. Pension Commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.

During the year, the charge to the statement of financial activities in respect of defined contribution schemes was £2,119 (2023: £1,732).

At the statement of financial position date contributions of £nil (2023: £nil) were due to the fund.

17. Movement in Funds

As at 1 January 2024 £ 2,855,054 -	Income £ 2,691,251 3,570	Expenditure £ (488,058) -	Transfers £ 3,570 (3,570)	As at 31 December 2024 £ 5,061,817 -
2,855,054	2,694,821	(488,058)	-	5,061,817
As at 1 January 2023 £ 2,994,741 47,980	Income £ 297,312 -	Expenditure £ (484,979) -	Transfers £ 47,980 (47,980)	As at 31 December 2023 £ 2,855,054 -
3,042,721	297,312	(484,979)	-	2,855,054

18. Post Balance Sheet Events

In February 2026, the sale of freehold land at Romsey was completed for £26million.

19. Transactions with Trustees

The total remuneration paid to trustees in respect of remuneration for the year ended 31 December 2024 was £31,008 (2023: £28,420).

During the year, the expenses reimbursed to the trustees or paid directly to third parties were as follows:

	2024	2023
	£	£
Other Expenses	1,360		32

Page 18

The Montfort Missionary Society Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

20. Related Party Disclosures

There were related party transactions in the year as well as in 2023 of salaries and expenses paid to Aidan Murphy, as detailed in note 18.

There were no other related party transactions for the year ended 31 December 2024.

21. Ex-gratia payment

21. Designated Funds

The trustees have designated funds out of the unrestricted funds as follows:

Fixed Assets Fund

Support of Older Members Fund

Page 19

The Montfort Missionary Society Detailed Statement of Financial Activities For The Year Ended 31 December 2024

INCOME AND ENDOWMENTS FROM: Donations and legacies Donations and legacies Gift aid Members' salaries and pension Other income Investments Bank interest receivable Other Gain on sale of tangible fixed assets EXPENDITURE ON: Charitable Activities: Other trading activities Mission donations Ex-gratia payments Wages and salaries Employers NI Employers pensions - defined contributions scheme Houses: Rent Houses: Rates Houses: Energy Houses: Repairs and maintenance Houses: Equipment maintenance Houses: Motor expenses Houses: Food Houses: Household Houses: Personal Houses: Recreation Houses: Travel Computer costs Insurance Printing, postage and stationery Montfort press expenditure Carriage and freight Telephone Audit fees Accountancy fees	2024 Total funds £ 2,628,481 4,475 11,731 49,506	2023 Total funds £ 64,347 10,591 10,256 52,939 138,133 1,176 1,176 158,003 158,003 297,312 (85,488) - (73,348) (1,527) (1,732) (37) (13,659) (53,645) (21,717) (17,063) (17,703) (18,263) (3,877) (5,106) (11,198) (15,030) (3,036) (17,811) (1,649) (293) - (9,000) (12,000) (13,265) ...CONTINUED
	2,694,193 628
	628 -
	-
	2,694,821 (52,711) (50,000) (89,352) (3,565) (2,119) (213) (16,018) (55,083) (22,244) (10,844) (16,893) (9,779) (418) (3,329) (5,420) (6,091) (2,356) (19,039) (787) - (5,295) (14,947) (10,800) (11,784)

Page 20

The Montfort Missionary Society Detailed Statement of Financial Activities (continued) For The Year Ended 31 December 2024

Legal fees Professional fees Consultancy fees Exchange losses Nursing fees Subscriptions and fees Sundry expenses Fines and penalties Catering for functions Masses Said Bank charges Paypal fees Late payment interest Investment management costs Portfolio management Other Depreciation of plant and machinery Depreciation of motor vehicles Depreciation of fixtures and fittings Depreciation of computer equipment Depreciation of freehold land and property Depreciation of leasehold land and property Loss on disposal of tangible fixed assets NET INCOME/(EXPENDITURE) BEFORE INVESTMENT GAINS/(LOSSES) Net gains on investments Realised surplus on revaluation of investments NET INCOME/(EXPENDITURE)	(12,642) (6,082) (3,981) (34,004) (65,089) (1,276) (1,349) - - (585) (63) - -	(8,899) (3,000) (7,493) (17,346) - (5,052) (14,172) (160) (2,400) - (59) (32) (3)
	(534,158) (3,269)	(455,063) (4,661)
	(3,269) (265) (3,078) (261) (6) (20,767) (17,642) (614)	(4,661) (311) (1,854) (398) (58) (20,562) (17,642) (123)
	(42,633)	(40,948)
	(580,060)	(500,672)
	2,114,761 92,002	(203,360) 15,693
	92,002	15,693
	2,206,763	(187,667)

Page 21