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2023-12-31-accounts

Trustees’ Report, Independent Examiner’s Report and Financial Statements for Year Ended 31st December 2023

Contents

Contents
Page
Reference and administrative details of the Charity, its Trustees and advisers 2
Trustees’ report 3–7
Independent examiner’s report 8–9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12 - 21

Page 1

SPICMA

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023

Trustees S Ewing C Forman B Jones appointed 9[th] May 2023 H McBrien retired 9[th] May 2023 C Page M Phelan President Fr B Phelan MHM Charity number 270794 Principal address PO Box 299 Cirencester GL7 9FP Accountants Crowe U.K. LLP Chartered Accountants Black Country House Rounds Green Road Oldbury West Midlands B69 2DG Bankers The Cooperative Bank PO Box 250 Delf House Southway Skelmersdale WN8 6WT

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Page 2

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

SPICMA

Structure, Governance and Management

The Trust is registered with the Charity Commission of England and Wales, number 270794. It is constituted under a trust deed dated 1st October 1975 and deed of variation dated 21st September 1977.

The Trustees who served throughout the year were Christopher Page, Sam Ewing, Cathy Forman and Maggie Phelan. New Trustees are recruited for their experience and expertise. Ben Jones was appointed during the year and Howard McBrien, a founding Trustee, retired.

The trustees meet annually to agree the criteria for grant decisions and to ensure compliance with objects, while the day-to-day administration of grants is delegated to two trustees. They are supported by four other volunteers who contribute by:

Writing appeals Inputting donations into the database Managing social media Maintaining the website

Methods to Recruit and Appoint Trustees

Trustees are chosen on the basis of their professional skill and experience and according to the needs of the charity. In the event of a vacancy or if a need for a Trustee is identified, the Charity would first consider a possible candidate from among its volunteers. If needed, it would then broaden its search to wider contacts and via the Catholic Chaplaincies at universities. Finally, applicants could be sought through regular inserts in the Catholic press. Current trustees have the opportunity to review an applicant’s suitability and a majority vote is required for an appointment to be made.

The trustees give their time freely and no trustee remuneration was paid during the year.

Risk Management

The Trustees are responsible for the oversight of the risks faced by the Trust. The primary risk identified is that a grant is misdirected or misused. To mitigate this, every application must be accompanied by a letter of endorsement from the local bishop or superior. Grants are sent to diocesan or congregation accounts for transferring onto the applicant. This approach builds in a degree of responsibility for the projects with those more senior to the applicant and provides an additional contact for the Trust. A completion report including photos of the work in progress is an important requirement for every project.

All bank transfers require dual bank authorisation by two Trustees.

Page 3

SPICMA

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Objectives and Activities

The charity’s object is the advancement of religion by supporting and assisting the missionary work of the Catholic Church. The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the trust’s aims and objectives and in setting the grant-making policy for the year.

The primary activity of the charity involves issuing grants for funding small building projects in impoverished communities. As such, the Trust reaches out to the poorest and most marginalized in the developing world. It is open to the needs of small communities and individuals who are unlikely to attract support from the larger agencies. By working through the Catholic Church, bureaucracy is minimised and direct links with both recipients and donors are strengthened. As a voluntary charity, administration costs are minimal.

Grant Making Policy

The usual process includes accepting applications, verifying the information and conducting discussion meetings every two months to reject or approve each project. During the reporting period, there were short episodes where the charity’s focus shifted to providing emergency food aid in several African countries. During these periods, the process was streamlined so that grants could be approved immediately upon receipt of a letter of endorsement from the local bishop. Funds were usually sent within days and were typically in small amounts of between £1,000 and £2,500.

Achievements and Performance

The Trust issued 81 grants totalling £299,104 over the reporting period (2022: 215 and £602,671), with the majority directed towards improving access to clean water and the construction/renovation of classrooms and sanitation blocks. Emergency food aid was also undertaken sporadically.

Grants by Type of Project Based on £ Value

----- Start of picture text -----
4%
15%
13%
3%
14%
5%
46%
----- End of picture text -----

Page 4

SPICMA

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The following shows the geographical breakdown of grants by value in 2023:

% %
Uganda 30.2 Madagascar 1.6
Kenya 28.1 Burundi 1.6
Tanzania 18.8 Malawi 1.4
DRC 4.5 Zambia 1.0
India 3.7 Sri Lanka <1.0
Cameroon 2.7 Nigeria <1.0
Pakistan 2.4 S Sudan <1.0
Burkina Faso 2.3

Financial Review

Donations are received by a combination of regular standing orders to our bank account and in direct response to appeals placed in the press or posted to our database of donors. Income for the year from all donations and legacies was £344,092 (2022: £566,352). The difference from the 2022 level reflects a very large legacy received in the previous period. Total costs less grants paid remained low at £18,697 (2022: £23,355)

At year end the cash held in the Trust’s accounts was £165,849.

Reserves Policy

At the year-end total funds were £198,821 (2022: £169,802). The Charity’s policy on reserves is to hold a minimum of £100,000 (which includes a working capital reserve of £25,000). This provides sufficient scope to respond to emergencies and other requests in an immediate and meaningful way, while launching fundraising appeals to continue support and replenish spent reserves.

Plans for Future Periods

The primary focus on funding small projects in the developing world will remain. At the time of writing, SPICMA has just ended several weeks of support for feeding programmes at Kenyan parishes, schools and health centres following devastating rains. We will monitor this situation and reinstate urgent food aid grants if necessary.

The Trust will maintain its approach of raising funds via advertising in national publications and contacting our database of donors over the course of the year. We do not intend to use external fundraising providers. We hope to expand our team of volunteers and also the Board of Trustees.

The Trustees have been made aware that a donor has left SPICMA a legacy which will probably be paid out sometime in 2024. The amount of the legacy is unknown.

Page 5

SPICMA

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Charity’s Outlook as a Going Concern

– SPICMA is an all-voluntary charity no wages are paid to anyone. Furthermore, the volunteers work out of their homes, so no rent is incurred. These factors mean that running costs are kept very low and, with the reserves policy in place, the charity is strongly positioned to continue its work.

Page 6

SPICMA STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Tnjstees are responsible for preparing the Trustees, report and the financial statements in acwrd3n¢e with applicable law and United Klngdom Accounllng Standards Iunlted Klngdom Generally Accepted AccounUng Practice). The law 8pplicable to charities in England & Wales requires the Trustees to prepare financial slalements for each financial which give a true and fair view of the slate of affairs of the Charity and of ils incoming resources and application of resources, including its income and expenditure. for that period. In preparing these financial ststemenls. the Trustees are required lo: $81gct suitsble accounting policies and then apply them consistenlty.. observe the methods and principles of the Charities SORP {FRS 1021., make judgements and accounting estimates that are reasonable and prudent.. stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures dlsclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless tt is inappropriate to presume thal the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitls transactions and disclose with reasonable accuracy al any tlme the financial posS1ion of the Charity and enabEe them lo ensure thal the financial statements comply with the Charities Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the provisions of the Trust deod. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps fi)r the prevention and detection of fraud and other irregularities. Approved by order of the members ol the board of TrLsslees and signed on its behalf by. ing rustee Date: Page 7

SPICMA

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Independent examiner's report to the Trustees of SPICMA ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Association of Chartered Certified Accountants, which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

Dated: 2 October 2024

Helen Blundell

LLB FCA FCIE DChA

Crowe U.K. LLP Chartered Accountants Black Country House Rounds Green Road, Oldbury West Midlands, B69 2DG

Page 8

SPICMA

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Note
Income from:
Donations and legacies
4
Investments
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2023
£
322,732
2,728
325,460
12,362
284,079
296,441
29,019
169,802
29,019
198,821		 Restricted
funds
2023
£
21,360
-
21,360
-
21,360
21,360
-
-
-
-		 Total
funds
2023
£
344,092
2,728
346,820
12,362
305,439
317,801
29,019
169,802
29,019
198,821		 Total
funds
2022
£
566,352
617
566,969
15,854
610,172
626,026
(59,057)
228,859
(59,057)
169,802

The notes on pages 11 to 20 form part of these financial statements.

Page 9

SPICMA BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note Current assets Debtors Cash at bank and in hand 12 30,973 143.003 165,849 CuTr8nt liabilitles 209,513 173,976 Creditors.. amounts falling due within one year 13 (10.6921 (4,174) Net Current assets 198,821 169,802 Total net assets 198.821 169,802 Charity funds Restricted funds Unrestricted funds 14 14 198,821 169,802 Total fund$ 198.821 t69,802 The financial statements were approved and authorised for Issue by the Trustees and signed on their behalf by. Date.. The otes on pages 11 to 20 form part of these financial statements. Pao8 10

SPICMA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. General information

SPICMA is a Charity registered with the Charity Commission in England and Wales (no: 270794). The registered address is PO Box 299, Cirencester, Gloucestershire, GL7 9FP.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

SPICMA meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are presented in British pound sterling and roundins to the nearest £.

2.2 Going concern

After reviewing the Charity's forecasts, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the forseeable future and that there are no material uncertainties about the Charity's ability to continue. The Charity therefore continues to adopt the going concern basis in preparing its financial statements.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income from legacies is recognised where evidence of entitlement exists, the value is measurable with sufficient reliability, and on the earlier of the date of receipt of finalised estate accounts or the date of payment.

Gifts in Kind are recognised in respect of donated goods either in support of fundraising activity or in direct support of the provision of charitable activity. An equivalent cost is also reported within the cost of fundraising or the appropriate cost of charitable activity.

2.4 Expenditure

Expenditure is included in the Statement of Financial Activities when incurred and includes attributable VAT which cannot be recovered.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes advertising costs.

Expenditure on charitable activities comprises expenditure on the Charity's primary charitable purpose as described in the Trustees' report.

Page 11

SPICMA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Accounting policies (continued)

2.4 Expenditure (continued)

Support costs include expenditure incurred in providing office services, equipment and a suitable working environment to carry out the primary purpose of the Charity.

Governance costs comprise the costs which are directly attributable to the procedures for compliance with statutory requirements.

2.5 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of financial activities.

2.6 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Debtors

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors

Creditors are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

2.7 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 12

SPICMA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

3. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no areas of the financial statements where estimates or judgements have been made.

4. Income from donations and legacies

Unrestricted
funds
2023
£
Donations
Donations
285,678
Gift Aid
22,848
Legacies
14,206
322,732
Total 2022
386,840		 Restricted
funds
2023
£
21,360
-
-
21,360
179,512		 Total
funds
2023
£
307,038
22,848
14,206
344,092
566,352		 Total
funds
2022
£
295,013
28,973
242,366
566,352

5. Investment income

Unrestricted
funds
2023
£
Bank interest
2,728
Total 2022
617		 Total
funds
2023
£
2,728
617		 Total
funds
2022
£
617

Page 13

SPICMA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

6. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted
funds
2023
£
Advertising and promotions
12,362
Total 2022
15,854		 Total
funds
2023
£
12,362
15,854		 Total
funds
2022
£
15,854

7. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2023
£
Charitable activities
284,079
Total 2022
347,872		 Restricted
funds
2023
£
21,360
262,300		 Total
2023
£
305,439
610,172		 Total
2022
£
610,172

8. Analysis of expenditure by activities

Charitable activities
Total 2022		 Grant
funding of
activities
2023
£
299,104
602,671		 Support
costs
2023
£
6,335
7,501		 Total
funds
2023
£
305,439
610,172		 Total
funds
2022
£
610,172

Page 14

SPICMA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

8. Analysis of expenditure by activities (continued)

Analysis of support costs

Independent Examiner's fees
Bank charges and foreign exchange gains/losses
Office and IT costs
Total 2022		 Activities
2023
£
4,480
1,497
358
6,335
7,501		 Total
funds
2023
£
4,480
1,497
358
6,335
7,501		 Total
funds
2022
£
4,170
2,981
350
7,501

9. Grants

Urgent Food Aid in East Africa
Urgent Aid for Four Sindh Parishes, Pakistan
Grants < 10k		 2023
£
10,000
-
289,104
299,104		 2022
£
201,500
20,800
380,371
602,671

Grants are requested by members of the missionary church in developing countries.

Further details of projects supported can be found at www.spicma.org.

Page 15

SPICMA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

10. Independent examiner's remuneration

2023 2022
£ £
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts 3,195 2,970
Fees payable to the Charity's independent examiner in respect of:
All other services not included above 1,285 1,200

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).

There were no employees in the current or previous period.

No Employee received remuneration amounting to more than £60,000 in either year.

During the year ended 31 December 2023, no Trustee expenses have been incurred (2022 - £NIL).

12. Debtors

Due within one year
Accrued income legacies
Prepayments and accrued income
Gift Aid receivable		 2023
£
20,417
400
22,847
43,664		 2022
£
2,000
-
28,973
30,973

13. Creditors: Amounts falling due within one year

2023 2022
£ £
Accruals 10,692 4,174

Page 16

SPICMA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

14. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds - all funds
Restricted funds
Urgent Food Aid in East Africa
John Julius Lokure Education
Training for Women- Tailoring, Embroidery,
etc Vengaivasal, India
Toilet Block at Cardinal Otunga Health Centre
in Mangu, Kenya
Hand-dug Well at St John the Baptist Ndonga
Parish, Kenya
Total of funds		 Balance at 1
January
2023
£
169,802
-
-
-
-
-
-
169,802		 Income
£
325,460
10,000
610
3,200
3,850
3,700
21,360
346,820		 Expenditure
£
(296,441)
(10,000)
(610)
(3,200)
(3,850)
(3,700)
(21,360)
(317,801)		 Balance at
31
December
2023
£
198,821
-
-
-
-
-
-
198,821

Page 17

SPICMA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

14. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds - all funds
Restricted funds
Water System Tumaini Health
Centre
Urgent Food Aid in East Africa
Urgent Aid for Four Sindh
Parishes, Pakistan
Replacement Goats following
Flooding, Thandrampet
Rural Girls' Study Centre,
Thandrampet, India
New Two-Classroom Block at
Namikango School, Malawi
Renovation of St Leo the Great
Classrooms, Makiungu,
Tanzania
Underground Water Tank for
Mabira Parish, Tanzania
Shelter for Youth and Woman,
Tapac, Uganda
Barehole for St Matia Mulumba
Training School, Baluba,
Uganda
John Julius Lokure Education
Total of funds		 Balance at
1 January
2022
£
228,392
467
-
-
-
-
-
-
-
-
-
-
467
228,859		 Income
£
387,457
-
145,144
8,219
2,500
6,000
3,799
2,350
2,950
3,300
4,650
600
179,512
566,969		 Expenditure
£
(363,726)
-
(201,500)
(20,800)
(2,500)
(6,000)
(6,500)
(4,700)
(5,900)
(6,600)
(7,200)
(600)
(262,300)
(626,026)		 Transfers
in/out
£
(82,321)
(467)
56,356
12,581
-
-
2,701
2,350
2,950
3,300
2,550
-
82,321
-		 Balance at
31
December
2022
£
169,802
-
-
-
-
-
-
-
-
-
-
-
-
169,802

Page 18

SPICMA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

14. Statement of funds (continued)

5 Separate Grants for Urgent Food Aid in East Africa - £10,000.00

A significant donation from a trust specified that the funds be used for emergency food aid for children in Africa. Much of Kenya has suffered following years of drought and the following grants were issued in October:

Training for Dalit Women - Tailoring, Embroidery, etc Vengaivasal, India - £3,200.00

This 6-month project will focus on the training of 150 Dalit (untouchable) women in tailoring, embroidery and sari painting. These are illiterate, rural women and the aim is to provide them with opportunities for their livelihood.

Construction of Toilet Block at Cardinal Otunga Health Centre, Mangu, Kenya - £3,850.00

This health centre serves the poor of the local area. There is no money to build a much needed toilet block for patients and visitors, so the congregation running the centre approached SPICMA for help.

Hand-dug Well at St John the Baptist Ndonga Parish, Kenya - £3,700.00

The parish priest requested help in funding the well for the parish and the local school. This area struggles with drought and relies on sources of dirty water from rivers, though these also dry up eventually. The well should significantly improve the health and comfort of those nearby.

Page 19

SPICMA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

15. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2023
£
Current assets
209,513
Creditors due within one year
(10,692)
Total
198,821
Analysis of net assets between funds - prior year
Unrestricted
funds
2022
£
Current assets
173,976
Creditors due within one year
(4,174)
Total
169,802		 Total
funds
2023
£
209,513
(10,692)
198,821
Total
funds
2022
£
173,976
(4,174)
169,802

16. Related party transactions

During the financial year Trustees made donations totalling £2,455 (2022:£3,125)

Page 20