R•gl•ter•d Numb•rs 2520411SC039359 ROMAN CATHOLIC PURPOSES IN CONNECTION WITH THE CONGREGATION OF THE MOST HOLY REDEEMER (KNOWN AS THE CONGREGATION OF THE MOST HOLY REDEEMER AND THE REDEMPTORISTS) ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
THE CONGREGATION OF THE MOST HOLY REDEEMER CONTENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Charity Irrfcffti8tlon Roport of th• Trustee• 2-11 Report of tho IrKlependent ALM11t$ 12-14 Sl8t•ment of Flnan¢lal Aclivlllos 15-16 Balanco Sheet 17 ststemont of Cash F 18 Notes of the Financial Statements 19-27 Incon and ExperKlilure Account 28-29
THE CONGREGATION OF THE MOST HOLY REDEEMER CHARrrY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES". Rev R ReKI c.ss R Rev A Bums C.Ss.R. Rev T Buckley C.Ss.R. Rev E Gweme C.Ss.R Rev D mcBre C.Ss.R. FINANCIAL DIRECTOR: Mrs S Perrins Iunlrf April 202SI REGISTERED OFFICE". Sl Marfs 8 Clapham Park Road Clapham London SW4 7AP REGISTERED NUMBERS: 252041 SC039359 AUDITORS: Azets Audil Services Alhenia House 1(14 Andover Road Winchester Hampshire. S023 7BS BANKERS: Nalwesl City of London Olf 1 Princes Sireel London, EC2R 8PH SOLICITORS: Gunnercooke 1 Comhill London, EC3V 3ND Polhecary Witham Weld 84 Eedeston Square London. SW1V 1 PX
THE CONGREGATION OF THE MOST HOLY REDEEMER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OECEMBER 2024 The Trustees present their report with the financrdl stalemenls of the Charity for the year ended 31 December 2024. The financial slalemenls have been prepared on the accounling policies set out in note 1 lo the financial slalements and comply with the Charity's Injsl deed, applicable law and the requirements of the Stslement of Recommended Practice 'Accounling and RertIng by Charities" issued in 2019. OBJECTIVES ANO ACTIVITIES The Trust Deed dated 23 February 1967 whh is the governing doojment of the Congregation sets out ils objective.. "The charitable purposes whh advance religUS and other Charitse work for the lime being carried on by or under the direction of the Society as the Truslees, wth the approval of the SuperM)r, shall from lime lo time think fil". The Congregation continually assesses the effectiveness wrth whth il achieves this objective.. though such reviews are not always or easily subjected lo stalls1al analysis as much of the work is of a 'spirilual' nature. The Tnjslees c ordinate the work of around sixty-five members of the Congregalion based In the UK and Zimbabwe and a larger number of people who work for the Congregation, largely on a voluntsry basis. There are currently five Redemplorist communities in the UK and four in Zimbabwe. During this reporbng Per four corffteres died. For the purpose of reporting on Public Benefit, the various 1vleS ol Charty arKi its charitable work are listed with greater detail. The truslees confirm they have complied wlh the duty under the Charit5 Acl 2011 to have due regard lo public benefit guidance published by the Charities Commission. PARISHES Parish Cornmunilies.. The Redemplori51s staff four parishes in England.. St MJrfs, ClJph•m This Is a large. mulli-ra¢ial Cathdic parish in south-LorKlon *ryth a Sttioweeonomic mix. Two Redemptori51s aro fully o¢¢upied wilh the parish. Other members of Ihe Community assist with the church services. The church is open seven days a week pyovidmg Catholic worship and th8 OPPOrtunily for anyone to spend a few minutes in quiet prayer or reflection. About 1.000 worshippers attend Mass each Sunday. There is a large and highly successful wmary school to which the pwlsh pr$19 offor chaplaincy 8UPPOrt and serves on the Governing Body. The priests are also Cathie chaplains lo Trinty Hospice where they visit the palienls and are available'on call,. This ministry Is siipFthed by the Charity as they receive no stipend or salary. Some of the confreres are engaged part-lime with missK)ns and retreats and do SUpplS in the local dicvses. The Mission Coordinator for the Province lives and works from here. The ground floor of the Monastery is used for parish and ¢¢umenical meetsThJs and courses. The A¢¢ of Clubs is a Regislered Charitable Company uThYer the Trusleeship of the Redemplorisl$. Three Redemptorisls are involved in Ihe Trustees Committee. The club is housed in Ihe old school buildlng and forms an integral part of the communty outreach of the parish. It is a day drop-in centre providlng meals and practical support for homeless men and women. Under ils lay director and dedicated team, il has had arther Successful year. An IT edUcatn suite Is available lo assist the Ace of Clubs dienls lo develop basic IT skills and proVe short-tem) educalKin programmes. There is a charity shop which help lo provide financial supp)rt for the Cenlre. Also. in collaboratn with other cenlres, Ihe Ace of Clubs shares in a scheme to provide ovefnighl accommodation. The Trustees have estatl5h8d a Tnjslees Committee lo provide specialis8d support and oversight of the aclNilies of the Ace of Clubs There are strong ecumenical links wrlh the loc41 Chrksli8n churches and wlth other Centers for the homeless The Abbey Parlsh, Erdington. Blm)Ingham This is a large. vibranl parish staffe¢Y by three Redemptorists that attracts people from beYd the parish boundaries. On Sunday there are over 1,200 worshippers at Mass and the church is open every day for worship, private prayer and reflection There are Catholic sch)ols wlhin the partsh.. The Abbey Pn'mary school, aThJ St Edmund Campion Comprehensive School. The parish priesl serves on the Governing Body and is Chaplain to the primary school. The parish priesl also serves, one day a week. chap1alrIn-Call for Good Hope General Hospital. Sutton ColdrId, and the Itxal John Taylor Hospice.
THE CONGREGATION OF THE MOST HOLY REDEEMER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Redemplorisl priests a also chaplains to a number of residential care homes within the parish. The parish hall is used exleftsively by parish and other groups with aCtIvrt$ available lo anyone from the local community. One Redemplorisl Brolher is engaged in pastoral work for asylum seekers and refugees. There is an active lay group of the Si Vincent de Paul Souety that seeks lo serve the needs of the local poor and needy families and ha5 beme the bgeSt food don lo Erdinglon Food Bank. 818hop Eton. Llverpool This is a very popular parish ¢hurch in a residenliaj area of s(Mthh Livefpool. 11 1$ staffed by a priest from the community.. the parish priest. Other members of the communty are also involved with the celebration of Mass and other services within the church. The church is open every day, through the day. offering Cathdt V4Drship arml opportunllies for person81 ayer and refleelion. There are approximately 500 worshippers who attend tho Sur¥Jay Masses There is a Catholic pn'mary school. and the parish priest is the Chaplain. There 1$ also a pn'vale Catholi¢ preparatory schc#J wthin the parish boundary. The Fisher-more Hall is used by a variety of groups induding Parents and Tc•Jdlors. and for fund-raising events for Third World Projects. tt is also a lo¢al polling slalion when required. Members of th8 community also occasionally erwJage in giving pansh missions in parishes around the county by local invitation, and retreats to re1lOuS Communities armi programmes of Marriage enrichment. Post Covid, the Parish PrwJl has continued lo keep contacl with the Parish and school by means of a weekly online message. which the parishioners are encouraged to follow. Most of the parish Masses are livèstreamed which is especially appreciated by those who are unable lo gel lo the church for regular masses, funerals and weddings. St Mary'$ Woolton, Llverpool In 2011 the Archdiocese of LiverKM)ol requested that the Twslee5 accept the pastoral Ca of the neighbouring parish of Sl Mary'5. Woollon. Si Mary's parish is of a similar size lo Bishop Eion. The pastoral ¢are of Si Mary's has developed well with the members of the community a$$i$liThJ the full lime Redemplorisl Parish Priest in the provision of ehurch services. Si Mary's also has ils own Calholic Primary School. St Bonet'• The Redemplori$ls wilh(irew from Sl Benel's. Sundertand in 2011. In con5ullalion wlh the local Catholic Oit)cese of Hexham and Newcastle, the Charity has grfied of Church of Sl 8enel's lo the DicKese for ils ¢onlinuing use on the condition Ihal should the Diocese no longer wish lo use it, ownership wll revert lo the Charty. We continue lo seek a buyer for the unoccup adjoiniro monastery. These negotiatn5 have continued throughout the current reporting period} Further note Every Catholic parish is a eonstilvenl part of the local Calholic Diocese. By the staffing of these parishes, we are also conlribuling lo the overall Public Benefit of Ihese Registered Charits.. Soulhwark (South London & Kenl},' Birmingham,. Liverpool.
THE CONGREGATION OF THE MOST HOLY REDEEMER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OECEMBER 2024 PASTORAL CENTRES The Charty currenlly owns arKI runs a Pastoral & Retreat Centre. Sl Mary's, Kinnoull, Perth. Sl Mary's Monastery has been the Redemplorisls principol location in Scotland since the Monastery was fKsl built In the 1860.5. 11 was a community home for the charty's members, Redemplorisl priests an(J brothers based in Scotland. In addition lo the resident community il has also served as a Retreat Centre for clergy and lay relreals. This ministry has greatly expanded ovw the pasl foty years. Today, in addition lo the renewal courses for seven weeks, there are variety ol retreats for Ihe Catholic and Christian communty. 'KInrUl1. provides retreat and conference f8cililie$ for a wide variety of organisalions including the Episcopal Church. A1holIcS Anonymous. professional groups, and sew- help groups. In this reporting year we took new steps lo strengthen our ecumenical oulrea¢h lo other Christian Church groups in Scotland, and our ministry lo young adults. 'Kinnoull' provides a daily Mass in the Monastery which 1$ open lo the local Catholic community. 11 is also a base for ministry in parishes across Scotland. 11 is also used by the Province for our own Provincial and Congregalional meelirKJs an¢J relreals. Our Community is now 4 persons. We have decided on a stralw to ensure our continued health and well-bein9. We have drawn up a programme lo keep us engaged daily in an agreed way of living. St Clom•nt'•, Chawton, Alton. There is 0Y one Redemptorist belonging to the community who 15 the full-lime Oireclor al Redemplorisl Publicalions. Redemplorisl Publ{lonS Is a separate Registered, Charilable Company under the same Trusle¢s a$ the Main Charity. Since Ihe beginning of the parKlemic, a weekly Garden Mass is recorded al Si. Clemenl's and made available through Re¢Yemplorisl Publulions for Ih05e who still cannot allerKI their parish church. Average weekly view5 are around 1.500- so there are probabty arourwj 2.000 viewers each we8k from around the world. THE REDEMPTORIST MISSION. ZIMBABWE The Redemplorisls are based in three location$ in Harare from where they serve a number of township parishes and outlying areas where some for the poorest are liviro. As Ihis community is slill growing il 1$ Called a Re9ion with a local 8dminislralion bul il remains under the auspices of the Trustees of the London Province. The Region's aclivilies Include.. The $laffing of two township parishes of Tafafa. and Mabvuku. arKI the very pwr settlement of EastyW and an extension area named popularly as Charlotte Brook. The staffing of a resident1 parish of Borrowdale. and Hat¢liffe. The slaffiw of a rural mission in ChpNeshe with over 15 outslalions. The fomialion and education of future Zimbabwean Redemplorisls al thè Jesuit Arrupe College in Harare and a shared f0m1aln pro9ramme wth Redemplixisls from Kenya and South Africa. One of the Brothers is responsible for a feeding and basic educalh)n programme for 20.CI)O children. One Brother works in our school for poor children called Mavambo. One Brother heads an adminis1ratn outreach leam in Mavambo In consultation with the Province Truslees, the leadership team in Zimbabwe agreed lo accept the Invilalion of the Archdiocese of Harare lo lake pastoral responsibility for a rural mission al Chiweshe mentioned above, whh is approximately iwo hours. drive from Harare. A Redemptori51 pn'esl is working full time as parish pr*sl arKI is regularly assisted by two others. A sHJnificant financial investmenl is required to provth a community house and other basK infrastructure. All this wk is managed by fundraising and donations. The Congregation does not receive any grants for the education of the sludenls and the administratn ol parishes. The Region of Zimbabwe 8150 SUPPQrts the mother Province with the presence of five of its members who work in our parishes in Birmingham and Clapham", one is a brother who serves as Provinc1 Secretary and is part of the management learn al the Ace of Clubs in Clapham and is also our Safeguarding Lead.
THE CONGREGATION OF THE MOST HOLY REDEEMER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 This variety of activity in the different Communit of the Congregation in the UK and Zimbabwe is brought together in the common objective described in the constitutn5 and Statutes whth govern the Congregation throughout the world and which are approved by the Roman Catholic Church, in which rt is stsled." "Preference for situations where there 1$ 8 pastoral need. Ihal is, for evangelisatn in the strict sense logether wilh the choice in favour of the poor and promoting their fundamental righ15 to justice and freedom. The means employed must be effective and al the same time consislenl with the Gospel". During Ihis past year, there ha$ been continuing pOIrtl instability in Zimbabwe with hyper-inflation and much poverty. Even the meagre parish collectKins of a few ddlars a month have disappeared, and even more assistance musl be provided from UK. volUntr8 The London Province of the Congregalion of the Most Hdy Redeemer benefrts from the help of many volunteers. whose work and commitment varies from place lo place. in the parishes. for example. many people assist with th8 work of the local community, some on a ¢asual basis and others on a mrye regular ba$i$. The monetary value of $u¢h charitable assistance is consKlerable and difficult lo calculate. Each year, also, a large number of people help in fund-raising for Ihe Congregation's work in Zimbabwe, where our priests and brothers make 8 significant dtfference lo the liviThJ conditions of many of the local peOe in the vicinity of Harare. The Provincial Council has d¢velope(i a programme of forMatn for Redemplorisl Lay Missionaries and A$$oGiales. ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR TO 31 DECEMBER 2024 The Congregation ol the Most Holy Redeemer has the responsibility within the Roman Catholi¢ Cmrch of explicil preaching of the Christian Gospel. In achieving this aim the Congre9alion wilhin Ihe UK works in co-operation with the Congregation throughout the world and with the dSan bishops of England & Wales, and S¢olland. The major obJ•ctiv•s for Th• Tru¥teM In 2023r2024 Includ•d: . Developlng th• provinc• plan: The Tnjslees continue their refie10n5 on the fvlure'shape, of the London Province of the Redemplorists. In additn lo the criteria mentioned above the following has an imwtanl bearing on Ihe decisions of the Trustees.. the ageing profile of the members.. the lack of men in formation. and the pastoral needs of the wider Catholic community In Ihe nexl few years. Collaboration wlth oth•r Rodemptorisls. After the la$1 General Chapter of the Redemplorist Congregation in Rome, 2022, the five regional Conferences Ihal were established lo promote restructuring and lo further the aims of the Congregation. conlinued lo develop this project. Th• Conference of Europ•: The London Province of the Redemptorists is part of Ihe Conference of Europe. and Fr Provincial (The Chair of Trusleesl participales in its meetings. At North European Reglonal l•v•l Ihefe are regular meetings of the Provincial Councils of the London, Dublin, Sl Clemenls Provinces, Ithe latter is an amalgamation of the Redemplorisls of north Germany, Holland, Switzerland, and the Flemish region of Belgium) and the Province ol v1ennalmunh. Al these meetings we are looking al ways of greater eollaboralion within our north European region wilh a view lo the forMaln ol a single Northwest European Province, starting with a Federation lo be established in August 2025. The Body of Trustees is registered wrih the UK Border Agency to * as a Sponsor for Redemptorists working in the UK as religious worker5. D•v•loping the mlsslon In Zlmbabwe. In the current financial year a substsnlial amount was donated lo the communities based in and around Harare. This funding supports thity-five pr*sls and brothers who are already members of the Congregation or who are training lo become members. The work of these members, bolh in terms of spiriluality and malerial support. is substantial. partUladY for those in the townships of Tafara and Mabvuku, near Harare. and Eastville and Haldiffe, where people ITve in extreme poverty. The mission lo ChNveshe continues to develop.
THE CONGREGATION OF THE MOST HOLY REDEEMER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Working for new ways to proclalm the Gosp•l St Mary's Perth: the work of retreats and ccrtirses in human and spirrtual development rrIeS on to good effect. Tho Ace of Clubs. Clapham. London. 15 a day dropin centr8 for homeless and marglnalised people offering meals. showering and laundry f¥ililies, and other professional seryices. 11 is a separate Charity under the Trustees of the main Charity arKI il is located in an old school building nexl to Sl Mary's Monastery. The Ace of Clubs is able lo offer the poor ar most vulnerable the option of a 'lake away, meal of hol food and refreshments or lo srt in the dining room. The Ace of Clubs Is the only place in our area providing for this lienlele al this lime and as such we are feeding up 10 180 people a day. The gNing of one or hvo week Parlsh Mlsslons has been one of Ihe traditn81 ministries of the Redemplorisl Congregation. This ministry is for the maintenance ar the promotion of Ihe Chrislianlcaiholic relig+on. Despile Ihe small number of Red¢mplori$15 available for Ihis ministry due lo our ageing profile, there remains a sleady demand for Ihe services of Ihose Redemplorisls who are engaged in this work. IMPROVEMENTS TO PROPERTIES St Mary's. Clapham Si Mary's Hall.. The Hall has been sold. The development will irKlude the provision of a smaller Parish facility. Plans have been approved by the Cal council and lIdIng vth has slarted Blshop Eton Monast•ryi Llverpool. Ongoing maintenae of this iMJilding ts constsnt. as new safety i$sue$ apar. Many of the wirKlows are being replaced or renewed FINANCIAL REVIEW The full detailed figures in the financial activities are shown on the foll¢MirKJ pages of the Report and Accounts. Total IrMe in the period increased from £1.23m lo £1.55m. This was mainly due to recognitlon of a legacy in the year of £282k. (Y this reslricled income reduced from £185,201 10 £135.627 and Unrestricted income increased from £1.040,13810 £1,417.659. Rent81 income increased from the previous year as the Clapham Townhouses were renle(J for the majority of the year while in the priof year one was used by members of Ihe congregalM)n while the Clapham Refurbishments were carried out. Total expendllure of the charity has remained fairty consislenl increasing from £1.790,737 10 £1.801.173. or this reslricled expenditure has redueed from £358.998 10 £295,744 and unreslricled expenditure has increased from £1,431,739 10 £1,505.429. This years expendilLtre includes signrficanl repair costs which have increased from £149.767 10 £231.525 as the Trustees conlinue lo deal with much needed property repairs around rts houses. Conlributh)ns lo Zimbabwe costs and Rome have also increased in the year with some redudions in medical costs as members have passed away during the year. The Reslricled funds again showed a defrt for the year due lo the continuing Zimbabwe support. some of which is being supported from Unrestricted funds. General unrestricted funds are also $howng a deficit. Thi$ ntInueS the trend which has shown that income is not Sufflent lo meet eXpenrt. Trustees are aware of this issue and are considering this Carefully although there still remains a good balance of unrestrieled fvnds due lo previous years property disposals so these remain at heallhy levels. Although there are now some modernised older prOpertS and a few new propert$ in the Charity's portfolio, il is appropriate lo repeal comments in recent years accounts concerning the assels of the Congregation. On first reading of the raw figures in the Audited Account5 11 could bejudge(J Ihal the Congregalion in the UK is rich in assets, particulady n relation lo propety assets. This is far from the realty.
THE CONGREGATION OF THE MOST HOLY REDEEMER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees pollcy decisions. lo carefully manage expenditure of Repairs arKI Renewals of the moslly old buildings that make up the propety assets. has avoided much larger deTlIS and supports their actions in seeking to maximise the value of assets surplus lo current requirements arKI reinvesting in the remaining assets and acquiring new Ii)w maintenance assets and others Ihal will provmle future significant rentsl income lo aKI the lack of pension income for the Confreres. Most of the tKoperty portfollo remains rjd and the nature of these assets arKI their age. mean$ keeping them in good repair is a continual challenge for the Trustee51Charity and the costs involved are signrficant. However. they are essential to the functioning of and the tb"nUance of the work of the cOngregatn and the trustee5 are seeking lo continue lo progress a programme ofrepair. maintenance and in some cases restoratn (K upgrade e.g. Si. Mary's Clapham wherè the Trustees have completed a major internal resloralion following on from an exlemal resloralion several years ago, through careful managemenl of Ihe Chanty's resources combirled wsth Invaluab support from various Grant Agèn¢ies. Signrftcanl progress has been made in delivenng the Strategic Han in recent years wrth the Restoration of Sl Mary's Perth, Sl Mary's C18pham and Bishop Elon LNerpool and disposal of Clapham Hall. Plans are still being progressed lo dispose of buildings in Sunderland. Reftrere StKld be made lo Ihe'Prowty Fixed AsselslDesnated Property Fund. Policy Review later in Ihis Rewt. The General funds lor free reseNes) held by the Twslees now 5tarKI al £6.95m12023'. £7.04ml. Around £2.7m of these reserves have already been spent on building improvemen15 whth will be WTitten off in future years. As such there are Sufficient reserves lo cover Ve months èxpenditure as well as coping with the increased costs of care of the elderly and sick Priests and Brothers desprte la¢k of suffi¢ienl pension provvJion. The expected irma56 in rental income and Investment income will continue to asstsl. THE LONDON PROVINCE'S STRATEGIC PLAN The Provlnce Plan: The purpose of original Province Plan is to enable the Trustees lo reslru¢lure the Charity's physical assets In order lo re-focus ils mission. The guiding principleslcrileria in this pro¢ess are.. To clarfy the pastoral pdoril*s for the London Province.. responding lo the pastoral challervJes of our limes.. The reduction in Red8mptorisl personnel, and. Financial viability. In keeping with Ihe limelable specifffjd in th8 Prov1re Plan. the Trustees keep under review the continuing presence of the Redempliyisls in Ihree major and lesser locations. Plans for 202S During thi5 period the Charity continued wrth the second year in its fouf-year cycle. A new Provincial Leadership and Chapter (Governing Body) were elected in November 2022 and the new leadership team began their four-year mandale in January 2023. These exe¢utive grwps continue lo revithv the Strategic Plan. under the guldance of the leadership of the Conference of Europe. The probable Yuture shape, of thè Charlty: The Redempton$t$ ¢onts"nue their ministry in three major locations.. London, Liverpool, and Perth, Seolland. In addition. there Is Redemplorisl Publications and Sl Clemenls House al Chawton in Hampshire, and the parish in Erdingion. Bimiingham. Parish Mission apostolate: il is hoped that from all our communities we will continue wth a smal leam of missioners for external pastoral ministry,. parish missrons arKI retreats. Progressing tho Mission of the Charlty: however. in order lo progress the prinapal purpose for reslrucluring.. lo further the mission of the Charlty. the Twslees are open to su9geslions for a 'new venture, exploring innovative and creative ways lo do Ihis in partnership wth the new Federation of North Wesl Europe starting in August 2025. Redemptorlsl Assoclato$: The Twslees recognise Ihe invaluable contribution of the many'volunleers. and employees who assist the full-time members of the Chanty i.e. the priests and brothers, in fu111•n9 its charitable purposes. For some of these men and women there is a desire 10 Share In the vis arKI spirituality that underpins these purposes. During the period under review, a group of Associales has been established in our three main cenlres, Perth, LNerpool and London, with regular meetings. Four of these AsKKiales have now made a commitment as Lay Missionaries of the Most Holy Redeemer.
THE CONGREGATION OF THE MOST HOLY REDEEMER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Improvgd care for 8lck membèrs: The Trustees have a sub-committee (SeCretartI for the Care of sick and elderly Redemplorists. Ils remit 15 to review the current arrarrfjements for the provision of the appropriate level of care for ils sick. elderly and infirm Redemplorisls, and to advise the Trustees on the use of the designated Sick and Retired Fund linvesled with Quilter Cheviol Investments) for these purposes. This work is ongoing wilh the refurbishment of facilities at St Mary's, Clapham aThJ the part-lime employment of 8 professional nurse for the care of the elderly in Bishop Eton. Liverpool. INVESTMENT POLICY The Trustees have the power lo invest as they see frt. The Poly is to maintain income whilst preserving the Teal value of the inveslmenl assets. The day lo day operation of this Policy is carried out by the Investment Managers.. appointed by the Trustees under agreed imiestmenl policies. The Trustees reviewed Ihe PolKy in the year to April 2019 arid this was approved and adopted in December 2018. In line with the volalile slate of the investment market during the pemd. the Chanty has seen wide fluclualions in the Value of ils inveslmenls. The Trustees take a long term vbew and hope lo see improvements in future years arKI in the meantime in¢reasing dividend income i8 a key focus for the Investment Managers. In addition. the nature of the Congregatn,$ work requires that some funds are retained in liquid form, and are held in short lerm bank deposits. Here the continuing low levels on interesl income continue to have a signrfi¢anl impact on total inveslm¢nl inGome and the overall irKome of the CongregatA?n. RESERVES POLICY The Trustee$ have developed and pul in place a Res6rNe$ POIy, this being adopted in May 2018. 11 is the pdiey of the Charity lo hold reserves in its general funds which have not yel been commille(l or designated for any particular purpose. The Trustees have sel asKle Ihese reserves in order lo protect Ihe future operalions of the Charity from the effects of any unf(veseen variations in ils income streams as part of the polw of good financial management practice. The Trustees have sel the level of Ih¢so reserves after undertaking a thorough assessment of the Chanly needs and feel that the level of free unreslricled reserves, those not being induded in the kyorwty or sick and retired reserves, which sland al £6.951,126 are adequate lo carry oul th polw. RISK MANAGEMENT With the benefit of the Considerable work pul into development of the Province Han by the Trustees refered to earfler. the Twslees have thoroughly assessed Ihe key nsks that impact uFL)n the futu viability of the Province in the UK. The evaluation of the risks focused on the reducing availability of active members of Ihe Congregation, the con¢Jrtion of the property assets, the need lo focu5 on core priorities of the work of the members and lo plan lo look after the increasing number of elderly members. A full Health & Safety risk assessment of the ConwegaiKJn's Operat has been c>)mpleled over wr*nl years with the support of external experts. A review of is planned lo ensure up lo date Health & Safety Poli¢y and associated support guidance. Moving forward. a programme of reviews of ea¢h location over a period of years is in place wlth a series of specrfic risks also lo be assessed by all localK)ns. CHARITABLE DONATIONS The Charty made charilable donatnS in the year of £1 $4.11812023 £182,325). STRUCTURE. GOVERNANCE AND MANAGEMENT The Con9regalion of the Most Holy Redeemef is a Charitable Trust established by a Trust Deed dale¢Y 23 FebnJary 1967. All the Trustees are Priests or 8rolhers of the Congregation which was authorised by the Roman Catholic Church as a religious order in 1749 and has spread lo mosl counlries Ihroughoul the wodd. The Congregation has been working in the UK since 1845 where it currenly ha5 aly)ul foty members. Trustees are elected by the members of the Congregation for a period of ftyJr years,. the principal Trustee {Provincial Superior) doe5 not normally hdd for more than th terms except in special circumstances. Trustees are trained
THE CONGREGATION OF THE MOST HOLY REDEEMER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 within the ordinary procedures of the Roman cathol Church and are subject lo the laws of the Church. In all matters relating lo finance and ctvil law the Trustees are aware of the importarKe of seeking approprle professbonal advice. Thè Trustees of the Congregation are also Trustees of Rodemptorist Publl&itlons (Registered Charity No 1088879,. Regislered Company No 032617211 and, Tho Ac• of Clubs (Registered Charity No 1055187.. Registered Company No 030800661. Both of these charitable CoMpanS are closely linked lo The Congregation of the Most Holy Redeemer in their objectives of spreading the Christian Gospel arKJ helping those in society who are In gr8alesl need. Members of the Congregation do rt possess personal propety and do not earn personal income and the CongregalKJn's primary source of income is voluntary donations from those for whom they work. In this Gontexl the major risks lo which the Charty is exposed 8re Iwofold. 1. The Priests and Brothers who are membtrs of the Congregation and engap in ils charitable work are decreasing in numbers and increasing in age. The number of Redemptorisl Priests and Brothers in 1992 aged 65 and below was 72, al present rt is 9. 11 should be noted Ihal many Red8mpton515 above that age are still actively involved in the charitable work of the Congregation. 2. Also. the number of donors to the Chanty is de(xeasing as the numbers of Calholics attending on a weekly basis ¢onlinues lo decline. The charity has been managing, the kn(Mledge and approval of the Charity Commission arKI RLSS. certain historical matters which are now al a close. In moving forward, the charity puts the safeguarding of all who work and who come into ¢onla¢t with services as an integral part of its missK>n whth is eXained In further detail eartier In this report. The Trustees undertook a detailed internal saleguarding rev in 2021 and have continued lo lake professlonal and regijlalory advice as necessary. The Religtous Lrfe Safeguaftling Service I"RLSS-I was sel up under the auspi¢es of the Catholic Safeguarding Standards Agency I"CSSA"I lo provide an umbrella organisalion for religious orders lo access best practice and guidance. The Trustees have liaised wrth this service. The TnJslees have approved an updated safeguarding policy, interna safeguarding protocols, and putting in place additional Safeguarding team members. one of whom will an Independenl safeguarding profeSsnal. The Tru51ees continue lo priorrtise the safeguarding of everyone within the organisalion or who inleracls wlh rt through ils Services and activities. The Trustees are confident th81 they have acted promptly and thoroughly lo manage the outcomes of these historical In¢idenls both in the best inlere$l$ of Ihe charity and with consideratn for tho pastoral wetfare of the claim8nl$. Fundraljlng Fundraising generally takes place in parishes by members of the Redemplorisls arKI other volunteers. The Charity maintain$ its overall reswnsibility over fundraising activrties. The Chity has not consulted a professional fund raiser during the year. No complaints have been received about fundraising activrties. In undertaking these aeltvilies, concem is taken lo avoid unreasonable intrusion on a person's pn'vacy, unreasonably persislenl approaches are avoided and undue pressure is not placed on people. The Charity is not required lo register wrth the FundraisirKJ Regulor afxl ha5 r1 done $0 bul seeks. nonelheless lo maintain high standards. TRUSTEES The Trustees during the year under review were.. Rev R Reid C.Ss.R (Provincial Superior) Rev E Gweme C.Ss.R. (Vicar Provinei81} Rev A Burns C.Ss.R (Provincial Bursar} Rev T Buckley C.Ss.R. {Consullor)
ThE CONOREGATIOM OF THE MOST H¢XY REDEEMER RtpoKr(F THE TREE$ FOR THE YEAR ENWI 31 DECam ¥J24 Pav D FJ¢Bth C.SA.IL Trus*e• ar• by •vJ iemn. EathTnMI•• STATWNT OF TRIISTEE8' Rt•POMSBILITE8 Ihe rfrfK>th kn tr• SCI 2Mg{FIiS102 I continu• Sn BEfrIALF QF THE •OAAD.' R•v R R•id C.S•.R- TRUSTEE lo AJ &LC 10
THE CONGREGATION OF THE MOST HOLY REDEEMER INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Opinion We have audited the financial statements of The Congregation of the Most Holy Redeemer Ilhe'charity'l for the year ended 31 December 2024 which MprIse the statement of financial aclivilies. the balance sheet. the statement of cash flows and notes lo the financial slalemenls. including a summary of signrficant a¢counling policies. The fin8nc4al reporting framework that has been applwl in their preparation is applicable law and United Kingdom Accounting Standards, includin9 Financial Reporting Standard 102 'The Financ1 Reporting Standard applble in the UK and Republ of Ireland, (United Kingdom Generally Accepted Accounting Praclicel. In our opinion, th8 financial stalemenls.. give a Iwe and fair view of the state of the chty's affairs a$ at 31 December 2024 and of its incoming resources an(J application of resources. for the year then ended.. have been property prepared in accordance wth United Kingdom Generally Accepted Ac¢ounting Practice,. and have been prepared in accordance with the requirements of the Charits'es Acl 2011 and the Charities and Tnjslee Investment IS¢ollandl Act 2005 and regulalKin of the chan1$ Accounts {Scolland) Regulations 2006. Ball8 for opSnlon We conducted our audit in accordance wtth Inlemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Audilor's responsibilitie$ for the audit of Ihe financial slalemenls seCtn of our report. We are independenl of the charity in accordance with the ethical requirements that are relevant lo our audil of Ihe financial stslemenls in the UK, induding the FRC'S Ethical Standard, anij we have fu111ed tyJr other elhral responsibilitS in accordance with these requirements. We believe that the audit evidence we have obtained is SUNent aryj apwopriate lo provKle a basis for our opinion. Conclu•lon8 r•latlng to golng concwn In audiling the linancial slalemenls, we have conduded that Ihe Iruslees, use of the going concern basis of accounting in Ihe preparation of the financial statements is appropriate. Based on the work we have performed, we have not Idenirf any material uncertainli85 relating to events or conditions that, individually or collectively. may casl Snlcan1 doubl on the charitable company's ability lo ¢onlinue as 8 going concem for a pernd of al least fvAve month$ from when the finawal stslemenls are aulhorised for Issue. Our r¢sponsibililies and the responsibilitie$ of the tru$l¢es with reSpt lo going concem are described in the relevant $eclions of this report. Oth•r inforniatloTr The other information cornprises the infomation included in the Iruslees annual report, other than the financlal slalemenls and our auditor's report Ihereon. The trustees are responsible for the othef information contained wilhin the annual report. Our opinion on the financial statements does nol cover the other infonnalion and, excepl lo the extent otherwise explicitly slated in our reFQrt, we do not express any form of assurarKe conclusion Ihereon Our responsibility 13 lo read the other inforrnalion antj. in doing so, consider whether the olher information is materially inconsislenl with the financial $tslemenls or our krtowled9e obtained in the Course of the audit or olheThvise appears lo be materially misslaled. If we idenlrfy such malerial irinsISten¢ or appanI malerial misslalemenls, we are required lo determine whether this gives rise lo a material misstslemenl in the financial statements Ihamselves. If, based on the work we have performed, we conclude Ihal there is a material misslalemenl of this other information, we are required lo rept that fael. We have nothing lo report in this reg&d.
THE CONGREGATION OF THE MOST HOLY REDEEMER INDEPENDENT AUDrroR'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEIABER 2024 atters on whlch we are requlred to report by exceptlo We have nothing lo report in respect of the following matters in rdation to whth the Charilies (Accounts and Reports) Regulation$ 2008 and the Charit$ Accounts Iscollandl Regulations 2006 require us lo report to you rf, in our opinion. Ihe information given in the finanual statements is inconsLslenl in any material respect wilh the trustees, report.. or tho charity has not kepl adequate accounting records,. or the financial slalemenls are not in agreement with the accounting records., Of we have not received all the infcKma1n and explanations we require for our audit. Ra8pon8lbllltle8 of trustoes As explained more fully in the Iruslees, responsibilities $tstement. the trustees are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair yw, and for such inlernal control as the Iruslees determine is necessary lo enable the preparation of financial slalemenls that are free from material misslalemenl, whether due lo fraud or error. In preparing the financial stslemenls, the Iruslees are responsi1e for assessing the ¢harity'$ ability to continue as a going Corern, disclosing, as applicable, matters related lo going concern and using the goin9 concern basis of accounting unless the Iruslees either intend lo Iuldate Ihe charity or lo cease operations, or have no realistic allernalive bul lo do so. Audltor's r•spon¥lbllltles for tho audlt of the flnanclal statomants We have been appointed as audilor under seclion 144 of the Charities Act 2011 and section 4411 Mcl of the Charities and Tnjslee Inveslmenl Iscollandl Act 2005 and report in accordance with the Acts and relevant regulations made or having effect Ihereunder. Our objectives are lo obtain reasonable assurance about whether the fina1 statements as a whole are free from material misstalemenl, whether due lo fraud or error. and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. bul is nol a guaranlee that an audit conducted in accordance with ISAS IUKI will always detect a malefial misslalemenl when il exists. Misslalemenls can arise from fraud or error and are considered malerial rf, indivUallY or in the aggregate, they could reasonably be expected lo influence the economic deGi$ions of users laken on the basis of Ihese financial statements. Ext•nt to whlch th• audlt was ¢onsld¢r•d capable of det•¢tlng Irr•gularFtl•s, Includlng fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design prdre$ in line wilh our responsibilities, outlined above, lo delecl material misstalements in respect of irregularities. including fraud. The exlenl lo which tyJr FvoCedUs are capable of detecting irregularities. indudifig frau¢J is detailed below.. Enquiry of managemenl and Ihose charged with governarKe around actual and potenti81 lrtigalion and claims as well as actual, suspected and alleged fraud.. Reviewing rninutes of meeliThJ$ of those charged wilh governa., Assessing the exlerKI of compliance with the laws and regulations considered lo have a material effect on the financial statement or the Operatn$ of the charity through enquiry and inspeclDn', Reviewing financial statement disdo$U$ ar#J tests.ng to supporting documentatn to assess compliance th applicable laws and regulation$'. Performing audit work over the risk of management bk2s and override of controls. •rludIng testing of ournal entries and other adjuslmenls for appropn"aleness, evaluating the business rationale of signrficant transactions CNJtslde the normal course of business and revthving accounting eslimales for indicators of potentlal bias. Because of the inherent limitations of an audit, there ts a risk that we will not deleel all irregularities, including those leading to 8 material misslalement in the financial statements or nOn•cknMnee with regulation. This risk InCase8 the more that WMplnCe with a law or regulalKJn ts removed from the events and transactions reflected in the financh81 slatemenls. as we will be less likety lo become aware of instances of non•compliance. The risk is also greater regarding irregularities occurring due to fraud rather than emy, as fraud invdves intentional concealment. forgery. cdIUsn, omission or misrepreSentstn. 12
THE CONGREGATION OF THE MOST HOLY REDEEMER INDEPENDENT AUDrroR'S REPORT TO ThE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 A further description of our responsibilils is available on the FRC'S website al.. h ..Ilwww.frc. .uklaudilorslaudil-assurance/audilcK-s-res nsibililies-for-the-audrt-of-lhe-fildescri he-au 0ts99s-res nsibilils-for This description fomis part of our au(Jilor's report. tion U8• of our r•port This report is made solely lo Ihe charity's Iruslees. as a t(*Jy. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 and Regulation 10 of the Chariltes Accounts {SlIan[lI Regulations 2006. Our audit work has been undertaken so Ihal we mighl slale lo the charity's trustees those matters we are required lo slate lo them in an audilor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than Ihe charity and the charity's trustees as a body. for our audit work, for this report. or for the opinlon$ we have formed. Jon Noble Isentor Stalulory Audilorl for and on behalf of A2els Audit SeThi¢es Stsiutory Auditor Alhenia House 10-14 Andover Road Winchester Hampshire S023 7BS Dale-. A2els Audit Services is eligible for apwinlmenl as audrtor by virtue of its eligibility for apwintment as audrtor of a company under section 1212 01 the Companies Act 2006. 13
THE CONGREGATION OF THE MOST HOLY REDEEMER STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 3111212024 Unreslrlctod Re8tflcted Funds Funds 3111212023 Total Noles Total In¢om• from: Donalions and legacies Charilable 8clivilies Investment income Gain on disposal of tsnglIe fixed asset Other income 1.042.856 16,843 57,595 61,189 1.059.699 57.595 265.323 5.032 782,681 66.085 244.119 204.134 5.032 Total Income Expendlturo on: Ralslng lunds Investment Management costs 18.670 10.441 29,111 27,233 Charltable actlvltles General charitable activit5 Total •xp•ndltur• Nel incomellexp8ndilurel before other recogniseé gain$lllossesl 187.770) 1100,1171 {247,887} 1565,3981 GainllLos$esl on revalualion and disposal of investment assels 975 N•t Incom•ll•xp•ndltur•) 1373.0561 184.806} 1457.8821 376,26SI Transfers between fund$ Net mov•ment In fund$ 1386.233) 191,6291 {457,862} 1378,2651 Fund balances broughl forward al 1 January 2024 Fund balances carried forward al 31 December 2024 The notes form part of these finawa statements The Slalemenl of Financial Activilies also complies with the requirement for an income and expenditure account under the CoMpanS Act 2006. Al aclivilies are continuing. 14
THE CONGREGATION OF THE MOST HOLY REDEEMER STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Prior financlal perlod 3111212023 Total Nol8S Unrestrlcted Restrictod Funds Funds Income from: Donations and legacies Charitablè aclNilies Investment income Gain on disposal of tangible fixed a55et Other income 722.081 60.000 66,085 58,518 782,681 66,085 244,119 185,803 Total Incom• Expandbturo on- Raising lund• Investment Management ¢o$ts 17,546 9,087 27,233 Charltabl• actSvbll•s General charitable activities Total •xp•ndlturo Nel incomel{expendilurel before other recognised gainsl{lossesl 1391.8011 1173,797) 1565.3981 ILossesyGain on revaluation and disposal of investment assets N•t Income 1268,5781 {107.6871 1376,2651 Transfers b8tsveen funds N•t rnOV•rnont In funds {266.1821 1110,0831 1376.2651 Fund balances brought forward at 1 January 2023 17 Fund balances carried forward al 31 December 2023 The notes form part of these financial $lalements The Statement of Financial ActivitS also COMleS Wh the requirement for an income and expenditure account under the Companies Act 2006. All activities are Continuing. 15
COIIGREGATIOM OF THE MOST HOLY REDEEMER FOR THE YEAR ENOED Jt f£cEII8ER2tr24 FIXED A88ET8: T•n9lblo 874,729 IT231 17.196JI• 17.110J29 GURREIIT A8•m.. io 97S.717 Cash al 1.411,67 CAEDrroR8: Amoun1• n ¢Thi y•w 11 1&039229 LIA8ILmES: 12 UNREJTRIMD VLWM: 14 6MI.1 &ck And r•thdfuMI IU72.•96 14 ON BEHALF OF OOAIID: Rev R R•ld C.Ss.R. TRUSTEE R•Y A cts$. TPAISTEE OPy•dj •uthr1(x by lh• Btswdd 16
THE CONGREGATION OF THE MOST HOLY REDEEMER STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 DECEMBER 2024 3111212024 3111212023 N8t loulgoingyincoming resources for year 1457.8621 (376,265) Depreciation 83.018 74,698 LossesllGains) on investments 209,975 (189.1331 Dividends, intere51 and rents from investments (265,323) (244,1191 Profil on disposal of fixed assels 15.032) {IncreasellDecrease in debtors 124,8151 996.379 IDecreaseylncre85e in credi N•t ¢48h u8•d In op•r¥tlng actlvltl•s Cash flows from Inv•stlng actlvltl•s Dlvidends. interest and rents from inveslmenls 2e5.323 244.119 Proceeds from Sa of property, plant and equipmenl 19.732 Pur¢ha$e of propety, plant and equipment 1269,216) 1170,671 } Nel Isaleypur¢hase of inveslmenls Not cash u8•d In Inv•stlng a¢tlvStl Change in cash and cash equivalenls in Ihe year 15WJ.1311 1249,4021 Cash and cash equivalenls Ixoughl foThvard Cash and cash oqulvalents carrlod lorward 17
THE CONGREGATION OF THE MOST HOLY REDEEMER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. ACCOUNTING POLICIES BASIS OF PREPARATION The linancial statements have been wepared urder the hrslorical cost Conventn. as fflodified by the inclusion of investment assets al market value. They have been prepared in accordance with the Charities Act 2011, the Charities and Trustee Inveslmenl (Scollandl Act 2005. regulation 8 of Ihe CharitS Accounts Iscollandl Regulation and in accordance with the Sialemenl of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffeclive 1 January 20191 and the Fina11 Repon9 StsThJard appluble in the Unrted Kingdom and Republic of Ireland IFRS1021. The charity ¢onslilules a Publ benefit entity as defined by FRS102. The financial slalemenls are prepared in sterling, which is the functional currency of the chanty. Monetary amounts in these financial slalemenls are rounded lo the nearesl £ The principal a¢¢ounling polic are summarised bdc•N. The accounting pIc5 have been appld conslslenlly throughout the year and in the preceding year. GOING CONCERN At the lime of approvirvJ the financial statements. the Ifuslees have reasonable expe¢lalKn that the ¢harrty has adequate resources lo ¢onlinue in operational exislence for the foreseeable future. Thu$ the trustees continue to aéopl the going concern basis of accounlin9 in preparing the finan¢ial 5talemenls. INCOME RECOGNITION All incoming resources are induded in the Sialemnl of Finanrjal A¢tivilies {SoFAI when the Charity is enlilled lo the income. it is probable that the income will be received and the amount can be measured reliably. The following specrfic pdicies are applth lo particular categories of income. Legacies lo which the Charity is enttlled are induded in the Slatemenl of Financial Activities unles$ they are incapable of measUMent. Voluntary income by way of grants, donations arKI grft$. are induded in full in the Siatemenl of Financlal A¢tivilie3 when receivabl8. Donated services and facilit are included at Ihe value lo the Charity where this can be quantrfied. The value of serwices provided by volunteers has nol been induded in t$0 accounts. Inveslmelll income is recc*Jnised when receivable. Incoming resources from charitable trading activity 15 recognised when eamed. EXPENDITURE RECOGNITION Expenditure is reeognised in the Sialemenl of Financial A¢tivilies on an accrual basis as soon as there is legal or conslruclive obligation committing the charity to that expenditure. il is probably Ihal settlement wll be required and the amount ol the oblwalion can be measured reliably. Expenditure includes VAT and is reported as part of the expenditure to whi¢h rt relates. Costs of generating funds comwse the costs as50ryaled with attractirvJ voluntary In¢ome, the costs of trading for fundraising purposes, and Ihe cost of investment management. Charitable expenditure comprises those c051s incued by the Charity in Ihe delivery of ils aclivilles an¢Y services for its benefKiaries. 11 indudes both costs that can be allocated directly lo such activities and those costs of an indirect nature necessary to support ihem. Governance co$15 include those costs assoated wlh meeting th8 C4)nstilutional and slatulory requirements of the Charity and include the audit fees and costs linked to the strategi¢ management of the Charity. All costs are allo¢ale(I the expendiiure categories of the SOFA on a basis designed lo refiecl the use of the resource. 18
THE CONGREGATION OF THE MOST HOLY REDEEMER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FUND ACCOUNTING Reslricled funds are lo be used for specrfied wrposes la down by the donor. Expenditure for tPvJse purposes is charged lo the fvnd, 109ether wth a fair allctalion of overtpads and support costs. Unrestricted general funds are available for use at Ihe diSCretn of the Trustees in furtherance of the general objectives of the Charity. Unrestricted deSnated funds are funds which have been designated for specrfic purposes by the Trvslees. The designaled 0pety fund represents the values of the buildings as detailed in Notes 8and9. CAPITALISATION AND OEPRECIATION OF TANGIBLE FIXED ASSETS Tangible fixed assets are initially measured at cost and subsequently measured al cosl or valLtation, net of depreciation and any impaimienl lo$ses. Depreeialion is calculated lo write down the cost. less estimated resKlual value of all tangible fixed asse15 held for Charity use other than buildings by Ihe reducing balance melh¢xI over their expecle(l useful lives. Items of equipment a ¢apilalised where the purchase price exceeds £1.000. The rates generally appIable are.. Improvements to wopety 10% Straight li Household 150A ffjdu¢ing balance Motor Vehicles 25% redu¢ing balance Buildings 150 yews or exp8cled remainirKJ useful lrfe The Buildings have been re¥d by the Trustees for impaimieni at the balance sheet dale. INhere decisions have been made lo dispose of assets the impairmenl has been based on professional valuat)n$ obtained. Where there is an expectation of short term exil from a community as part of the future strategy of the province, the carrying value has been adjusted lo reflect the remaining working value of the asset lo the Charity, and the write off period adjusted lo reflect this. For longer term buildings, Ihe Tntslees have reconsidered the expecled remaining useful life ol these properties. It was considered Ihal a period of 150 years was a more accurate fefieclion of the remaining life of Ih85e assets, given their long lrfe lo dale and the conlinued upkeep and resloralion of Ihese assets. CASH AT BANK AND IN HAND Cash al bank and cash in hand includes cash and sh1 term IKiuid investments with a short maturity of three months or less from the dale of aequisilion or opening of the deF#)sil or similar account. FINANCIAL INSTRUMENTS The charity only has financial assels and finanaal liabili1$ of a kind that qualify as bas financial inslrvmenls. Ba$1¢ financial instruments are initially recognised al transaction value and then subsequently measured al their settlement value. EMPLOYEE BENEFThS The c051 of any unlbsed holiday enlillemenl is recognised in the per in which the employee's seNices are received. Termination payments are recognised immedialely as an expense when the charity is demonslr8bly committed lo terminate Ihe efnploymenl of an employee w lo provide termination benefrts. FIXED ASSET INVESTMENTS Investments are a form of basic financial instrument and are initially recognised al Iheir transaction value and subsequently measured al their fair value as al the balance sheet dale using the dosing quoted market price. The slalemenl of finanaal acts.vrt5 indudes the net gains and losses arising on revaluation and disposals throughout the year. Investment properties, which is propety held lo eam rentals andlor for capilal apprecialion, is measured using the fair valve model and staled at ils fair value as al the reporting end dale. Any gains or losses on revaluation and disposals are included in the statement of financial activrties. 19
THE CONGREGATION OF THE MOST HOLY REDEEMER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY In application of Ihe charity's accounting pOl•e$. the trustees are required lo make judgements, eslimales and assumptions about the carying amount of assets and liatM"Irts Ihal are not readily apparent from other sources. The eslimales and associaled assumptn5 are based on historical experience and other faclors that are considered lo be relevant. A¢lual results may differ from these estim*es. The estimates and underlyin9 assumptn$ are reviv4ved on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revisH)n only affects that period, or in the period of the revision an¢Y future periods where the revision affects both current and future perds. The main a¢¢ounling eslimales of the charty are depw"atK)n and valualion of certain propertie$. 2. INCOME 3111212024 Unrestncted Restricted FurKI$ Funds 3111212023 Total Donatlon8 and l•ga¢lo8 Apostolic work Stole fees Donations received Mass accounts Legacies 591,785 50.865 88,307 29,107 591.785 50,865 105,150 29,107 576,188 40,620 124,955 40.918 16.843 Charltable actlvltl Resale income Inv•stment Income Rents received In¢ome from Ited investments Bank deposrts 98,726 152,277 14 78.088 147,346 97.467 54.810 Galn on dl¥po¥al of ianglbl• fix •ss•t Other Income Pensions Other receipts Furlough grants 112.238 53.401 112.236 53.401 120,113 12.341 165 Total incom•
THE CONGREGATION OF THE MOST HOLY REDEEMER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 3. RESOURCES EXPENDED FOR CHAR ABLE ACTNMES 3111212024 Unrestrlctbd R•striGtod Funds Funds 3111212023 Total Total Wages soc1 Security and pensions Adminislralion expènses Motor and travel expenses Food and drink expense5 Resloralion costs Repairs and renewals Sundry expenses Donations paid Community expenses 206,271 25.014 4,934 56,137 130.789 46.244 5.258 312,515 30,272 4,934 58,137 130.769 311.363 22.686 5,993 58.553 140.800 232.933 87.071 19.297 92.424 151.959 752 77 134,821 30,952 2,799 1,223 233,685 87,748 154,118 129,376 154,758 1,223 27,789 67.501 4.800 129.178 83.018 5,704 83,216 149.767 129.099 182,325 142.778 197,444 1,011 $6,153 82.622 Clapham shop rent Medical and chpAilies Insurance Other education and FSC fees Higher studies and formation Depreciation Bank charges and interest Contribution lo Rome Governance cosis Inote 41 27.789 87.085 416 72.779 83.018 5.342 83.216 56,399 86.131 74.698 8,708 37,575 382 4. GOVERNANCE COSTS 3111212024 3111212023 Legal and professional fees Provincial council Iravdling costs Wages and soual security Accountancy Auditors remunerab'on 11,176 20,658 13.003 12,684 000 5.850 22.174 13.573 75.641 S. NET {OUTGOINGIIINCOMING RESOURCES This is slated after chargin9'. 3111212024 3111212023 Au(Jrtor's remuneration slalulory aud - Otr 18,000 12,684 18,000 15.641 Depreciation and amortisation- Tangible fixed a55els, owner 21
THE CONGREGATION OF THE MOST HOLY REDEEMER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 6. EMPLOYEES Staff costs dunng the year were as follows: 3111212024 3111212023 Wages and salaries Social security costs Pension costs 325.005 23,125 329.354 17,244 The average number of emoYeeS during the year was 2712023.. 261 all of whom were engaged in the principal aclivity. No employee earned £60,000 per 8nnum or more in the current or preceding accounting perNxl. The Trustees are considered to be the 0Y key management personnel and are not remunerated. 7. PAYMENTS TO TRUSTEES No Trustee or person with a family or t)usiness connectn with a Trustee. received remuneration in the year, directly or indirectly. from either Ihe Charity or an institutn or company related lo the Charity. 8. TANGIBLE FIXED ASSETS Land & Buildlngs Improvements lo Propety Molor Vehicles Household Totals COST: Al 1 January 2024 Addrtions Disposals At 31 0ecemb¢f 2024 7,939,471 169.014 3.050.257 50,071 389,731 199,531 50,131 11.578,990 269,216 DEPRECIATION: Al 1 January 2024 Charge for year On éisposals I.8,833 42.658 469.805 15,637 344,554 6,772 152,767 17,951 2,875.759 83,018 Al 31 December 2024 NET BOOK VALUE: Al 31 December 2024 Al 31 December 2023 22
THE CONGREGATION OF THE MOST HOLY REDEEMER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 9. FIXED ASSET INVESTMENTS MARKET VALUATION Unrestricted Restricted Total Al 1 January 2024 Additions Disp05als Increase in valuation 6,655,296 95.999 118.6701 85 1.752,302 56,278 110,4411 8.407,598 152,277 129,1111 At 31 December 2024 Al 31 December 2023 Fixed asset investments comprise.. Investments listed on recognised stock exchange Inve$lmenl properties 3.347,339 1,873.450 5.220.789 The inveslmenl properties were orInallY valued based on the open market sale value of comparable properties. These values have been reviewed by the Trustees al the period end based on Current market conditions and are considered reasonable. 10. DEBTORS 3111212024 3111212023 Amount$ falling due within one year.. Other debtors Loan lo Redemptc*isl Publicatior Accrued income 111,217 50,902 300.000 11. CREDITORS.. AMOUNTS FALLING DUE wrrHIN ONE YEAR 3111 212024 3111212023 Trade creditors Accruals and deferred income 12. CREDITORS.. AMOUNTS FALLING DUE AFTER ONE YEAR 3111212024 3111212023 Accruals and deferred in¢ome 23
THE CONGREGATION OF THE MOST HOLY REDEEMER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. RELATED PARTY DISCLOSLIRES The Charity is related to Redemplorisl Publications (a Chth limited by guarantee) and Ace of Clubs Iclapham Limited la Chanly limited by guarantee) by virtue of common TnJslee5. Day lo day activities of Redemploiisl Publications and kn of Clubs are both controlled by a Committee whth includes management and lay people. During the period the Chafity receNed donatK)ns and aposloli¢ irKome amounlirvJ to £Nil {2023.' £107,351) from Redemplorisl Publications. In addition. the Charity had made a loan to Redemplofist Publications of £300.(KIO in the prior year which was fully repaid in 2024. As part of its support for Ihe charity Redemplorisl Putdicalions provh8es payroll and adminislralive services including the payment of salaries in advance of reimbursement. At the balance sheet dale the charity owed £2,68812023'. £6.0501 lo Redemp11$1 PUblatn5. During the period the Charity received renlal income of £3,416 per monlh from Ace of Clubs (Claphaml Limiled for Ihe use of part of ils Clapham property. 14. MOVEMENTS IN FUNDS Al Incomlng 111r2024 Rtssourc 1golng R8sources Revalu8Uons Losses & Translers Al 31112r2024 RMtrlct•d funds: Ace of Clubs Douglas Fund Zimbabwe Fund Father Burns Funds Si Mary's Restorallon Fund 29.744 1,289,302 601,516 S7.595 48.137 29,181 {56,7731 1195,2801 143.6081 {10.9921 77.355 1,561 19.574 1,219,508 588,650 34,000 Unrnstrlcted lund•: Designated Sick an(9 retired fund Destgnaled property fund General funds 409,387 9,530,638 26,661 {50.6931 142.6S8} 12 19.190 {230,9861 464.545 9,256.994 6951 12 Total unr•8trlct•d fund• Total fund8 24
THE CONGREGATION OF THE MOST HOLY REDEEMER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Purposes of restrICt funds Douglas Fund These funds are specrfully allocated for the training of priests and brothers and the conlinuiThJ education of prsIS and brolhers. Zimbabwe Fund These funds are held in the UK specifically for use in Zimbabwe, the Trustees having estsblished two communitS on the outskirts of Harare in 1990. AI that lime 811 finance was handled I(allY and any fundraising in the UK was sent direel via the Congregation's accounts. When the poliltsl difficulties developed into a serious situation, Il was decided to retain the majority of surplus funds In the UK and only transfer to Zimbabwe when required or lo make payments to SupterS oulsKle of Zimbabwe when the supplie5 have been received. Ace of Clubs The Trustees of the London province has transferred responsibility for the management and administration of the Charity shops from the Ace of Clubs to Si Mary's Clapham. All nel proceeds from the Charity shops 1$ $triCted for the benefit of th¢ Ace of Clubs. Sl Mary s ReSIallOn Fund These funds relate lo a legal undertaking provided lo Perth & Kinross Council from the sale of larKI al Sl Mary's Kinnoull. These funds can only be used on future resloralth of St Mary's KinrK)uII.. Father Burns Funds These funds represent inheritance from Falh8r Bums that has been paid Into the cOallOn to be held Unt 11$ use has been agreed. Purpo8•• of do•19natad fund Property fund The property fund has been set up to represent the re$erve5 atlrlbutable lo Charitable land & buildings including investment properti&s. Previous year$. values in the accounts were estsblished some years ago and were based on in$urarKe values al that lime. as the historical cost values were impossible lo arrive al. as landlbuildings had been xquired many decades ago. 11 is only when the landlbuildings are sold or transferred that the proceeds of the Ir2nsa¢lion, rf any. are transfeed to the Charity's General Fund of unrestricled a$sel$. Stck and retired lund There is no pension wovi5ion for the members of the Congregation. The Trustees have paKI voluntary NalK)nal Insurance contributions since the early 1W)s for qualifying confreres bul the slate pension payable lo currenl confreres over the age of 65 is SnIfn11Y less than the basic stale pension. The Trustees have established a fund specffa1IY dasignaled lo assist in the are of the sick and retired confreres. Initial funding in this first year of the designaled fund has been provided by specrfic donations from Redemplorisl Publicalions and Erdinglon House. 25
THE CONGREGATION OF THE MOST HOLY REDEEMER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unreslricle(I geneTrl tunds Deygn8led lunds Restricted funds Total fijnds Tangible fixed assets Investments Cuffenl assets Current liabilities N•t asiets at 310Komb•r 2024 2,717,735 2,487,932 1,809.146 6,156.994 3,9S9.409 1394,864} 8,874,729 8,320,789 1.411,678 1,873,448 12.6041 16. CAPITAL COMMITMENTS Amounts contra¢ted for bul not provided in the fInara1 slalements.. 3111212024 3111212023 Improvements lo tangible fixed assets