CONSOLATA FATHERS Trustees? Re ort 2nd Financial Statements Year Ended 31 December 2024 Charity Commission 0 7 AUG 2025 Received Charity No: 2S6717 CONSOLATA FATHERS Trustees, Re Drt and Financial SÉatements Year Ended 31 December 2024 CONTENTS Page Trustees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements CONSOLATA FAT￿Rs TRiiSTEES' REPORT FOR THE YEAR EIYDED 31 DECEMBER 2024 Introduction The Trustees submit their statutory report and accounts for the year ended 31 December 2024. The results for the year are presented in the forni of a Statement of Financial Activities, which incorporates the traditional income and expenditure account, in order to comply with the revised Statement of ReLornmended Practice for Charities, as issued by the Charity Commission in March 2005 (the 2005 SORP) and as identified in the Charities Act 2011. Organisation of the Charity The charity of the Consolata Fathers is administered from its house in Finchley. The house at Finchley provides the residence for teachers and trainees in England and this is also the administrative centre which provides the link between the Consolata Fathers in England and the rest of the world where the members of the Order work. The Trustees are appointed by the person holding the office of the Superior of the Congregation in. the United Kingdom's Trust Deed dated 3 May 1968. Principal Aims and Activities The main aims of the charity of the Coiisolata Fathers are the training of candidates for the priesthood and the support of missions overseas. Training and tuition in English is provided to prepare for missionary activities and spiritual and theological training is also carried out. In addition the charity facilitates the further specialist training ofmembers of the Congregation and other priests where special skills are required for overseas missions. The sUPPOrt of missions is a very important activity and many missions in different countries are given assTStance. Once traffining has been completed then their studies for the priesthood Continue in other parts of the world as preparation as missionary priests. Review of Activities The support of missions overseas, mainly the theological seminaries in Africa, continued to be at the centre of our attention, in line with the principal aims and activities of the Charity and the Trustees We￿ satisfied that the Charity provided a very high level of training and support. CONSOLATA FATHERS TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Continued Financial Report for the year The financial statements for the year to 3 l December 2024 show net incoming resourc¢s of £27677 2023: £5227- net outgoing. The cash investsnents on the Balance Sheet ar¢ partly held on account of tlie Generalate iii Rome in the sum of £400000 and the balance orth¢ monie5 is to provide investment income to assist the work of the charity. The trustees Continue to examine investment income to ensure that the best possible retum is being achieved in view of the essentially cons¢rvative investment criteria. Reserves Policv and Future P12ns More training is now carried out in the countries where the missionaries operate. Training will continue in the UK with other colleges and centres of leaming being utili5ed to a greater extent. The house in Finchley will continue to provide training and accommodation and the I'rustees will mainlain reserves of a sufficient level to ensure that the works of the Charity will be continued. Trustee5 Responsibilities Statement Charity law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of th¢ charity, and of its income and ¢xp¢nditure for the year. In preparing the attached a￿OuntS the Trustees are required to: select suitsble accounting policies and then apply them consistently. make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject lo any material departUTes disclosed and explained in the accounls. prepare the accounts on the going-concern b&sis unless it is inappropriate to presume that the Charity will continue to operate. The Trustees are responsible for maintaining proper accounting records which disclose wilh reasonable accuracy at any time the financial position of the Charity. They also have a responsibility for safeguarding the assets of the charity and for taking reasonable Steps lo prevent and detect fraud and other irregularities. Risk Management The Trustees have examined the major strategic, business and operational risks which the Charity fac¢5 and confinn that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen the risks. CONSOLATA FATHERS TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Continued Legal and Administrative Inforn)ation The name of the charity is Consolata Fathers. b) The charity registratiorA number is 256717. The names of the Trustees are: Father Marco Marini Father Renzo Marcolongo Father Carlo Bonelli Father Enrique Rituerto Urrejola d) The principal add￿SS of the charity is.. 3 Salisbury Avenue Finchley London N3 3AJ The independent ¢￿￿miller of the Charity ks.. N A Hcwitt FCA Brennan Peatson & Co Chartered Accountants 1101112 Lancaster Road New Bamet Herts EN4 8AL The principal bankers are.. HSBC Bank plc 789 High Road North Fin¢hley London N12 8JX The solicitors are: Howard Kennedy 23 Harcourt House 19 Cavendish Square London WIA 2AW Approval This report was approved by the Trustees on 15 May 2025 and signed on their behalf. Father Enrique Rituerto Urrejola CONSOLATA FATHERS Inde endent Examiners, Re ort to the Trustees of the Consolato Fathers I report on the accounts of the Charity for the year ended 31 December 2024 whi¢b are set out on pages 5 to 9. Resp¢ctive responsibilities of Trustees and Examiners The charity's Trustees are responsible for the preparation of the a¢counts. The charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Cliarities Act 2011 (the Act). follow the procedures laid down in the Genernl Direction5 of the Charity Commission under section 145(5)(b) of the Act. and to state whether particular matters have come to our attention. Basis of llldependent Examiner's Report My examination was Ca￿led out in accordance with the General Directions given by the Charity Commissioners. An examination include% a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or dis¥losures in the accounts and seekiiig explanations from you a5 Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and ¢onsequently no opinion is given as to wheiher the accounts present a.true and fair view" and the report is limited to those rnatters set out in the statement below. Independent Examiner's Statemejjt In Gonnection with my examination no matter has come to my attention: (i) which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with Section 130 of the 2011 Act., and to p￿pare ac¢ounts which accord with the accounting Trcords and to comply with the accounting requirements of the 2011 Act have not been met. or (2) to which, in my opinion, ts n should be drawn in order to enable a proper understanding of the Brennan Pearson & Co Chartered A￿OUnts 1101112 Lancaster Road New Bamet Herts EN4 8AL 15 May 2024 CONSOLATA FATHERS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted 2024 Restricted 2024 Total 2024 Total 2023 Incomi resources Investment income Property rents received Bank interest received 36221 33512 3622l 33512 64167 8653 Volunt income Chaplaincy, offerings and masses celebrated Donations for Missions 29032 7153 29032 7153 31739 8578 Total Ineomin Resourees 105918 105918 113137 Resources Ex ended Charitable activities Oculist expenses Donations Cloihing Bank charges Books. newspapers and Subscriptions Housekeeping and provisions Heat, light, water and council tax Motor and travel expenses Repairs and renewals Telephone Stationery, printing and postage Insurances Chapel expenses Medical expenses Missionary expenditure Depreciation including profit on sale of assets Home leave Governance Gosts Acrountancy and legal fees 654 5927 1002 238 613 9495 11254 14015 13454 1702 1897 8574 318 1257 654 5927 1002 238 613 9495 11254 14015 13454 1702 1897 8574 318 1257 610 540 672 294 1289 7855 7973 18709 6026 1108 iooi 8085 617 1607 54000 2567 2231 1928 2013 1928 2013 3900 3900 3180 Total Resources Ex ended 78241 78241 118364 Net Incomin oin Resources for the ear 27677 27677 {5227) Gains on Investments Fund5 brought forward at l January 2024 3779131 400000 3779131 3784358 Funds carried forward at 31 December 2024 3406808 400000 3806808 3779131 cor4SOLATA FATHERS BALANCE SHEET AS AT 31 DECEMBER 2024 Note 2024 2023 TANGIBLE FIXED ASSETS Properties Other fixed assets 23367l2 5973 2336712 7901 2342685 2344613 CURRENT ASSETS Cash at bank and in hand Debtors and prepayments I506220 10054 1424813 51790 1516274 1476603 CURRENT LIABILITIES Sundry creditor5 and accruals 52151 42085) Net Current Assets 1464123 1434518 NET ASSETS 06808 Represented by: Restricl¢d funds.. general administration Unrestricted fvnds 400000 3406808 400000 3379131 9131 Approved by the Board of Trustees on 15 May 2025 and signed on its behalf by: Father Carlo Bonelli The notes on pages 7 to 9 fonn part of these financial statements CONSOLATA FATHERS IYOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR EIYDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of accounting The accounts have been prepared in accordance wit the provisions of Statement of Recommended Practice.. Accounting and Reporting by Charities (the 2005 SORP). Exceptions to the requirernents therein have been noted within the notes to the finaTEcial statements. Donatlolls, legaci¢s 2nd other voluntary income Donations, legacies and other voluntary income are credited to the Statement of Financial activitie5 as they are ￿ceIved. Where funds are received for a specific purpose as defined by the donor, these are credited to a Restricted Fund, and are matched against expenditure incurred with tlie purpose as specified. Allocation of expenditure Allocation of expenditure to dire¢t charitable, support costs, fund raising and publicit} costs and the cost oFmanagement and administration of the charity have been allocated on a basis consistent with the nature of the expenditure giving consideration to the application, directly or otherwise. to external charitable causes. Tangible fixed assets Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on all tsngible fixed assets at Tates calculated to write off the cost less estimated residual value, of each asset over its expected useful life, as follows... Motor vehicles Equipment Fixtures and fittings Properties 250/0 reducing balance 20 % reducing balance IOQ/o reducing balance Valu¢ Added Tax Value Added Tax is not recoverable by the charity and as such is included in the relevant costs in the Statement of Financial Activities. PROPERTIES AT VALUATION 2024 2023 Properties at Brighton 3 Salisbury Avenue, London 1455021 881691 1455021 881691 I￿12 36712 The above properties at Brighton comprise of 34 Buckingham Place, Brighton 47 Hove Park Village, Hove, Sussex 18 Christ Church Road. Worthing CONSOLATA FATHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FIXED ASSETS Fixtures & Fittin ui ment Motor Vehicles Total Cost: At l January 2024 7783 25158 13395 46236 At 31 December 2024 7783 25158 13295 46236 Depreciation At l January 2024 Charge for the year 7491 29 25106 io 5738 1889 38335 1928 At 31 Decernber 2024 520 25116 7627 40263 Net Book Values At 31 December 2024 42 5973 At 31 December 2023 Pro Property at valuation (note 2) 2336712 Net Book Value At 31 December 2024 2336712 At 31 December 2023 2336712 CASH AT BANK AND IN HAND 2024 2023 HSBC current account HSBC fixed rate account HSBC money market account Barclays Community account Cash in hand 71390 31104 1400000 54686 5641 10000 1260000 4486 3726 150 CONSOLATA FATHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 UNRESTIiiCTED FUNDS 2024 2023 At l January 2024 Surplus/(DefJcit) for the year 3379131 27677 3384358 5227 At 31 December 2024 406808 379131 The restricted 5Jnds, held for general administration, are held in deposit accounts within cash at bank and in hand. STAFF COSTS No rernuneration was paid to the Trustees in the year nor were any Trustees. expenses reimbursed. There were no employees who received in excess of £50000 remuneratiOD during the year.