REGISTERED CHARITY NUMBER: 215011 Report of th• Trust and Financial Statements forthe Year Ended 30 June 2025 Sa¢red Heart Fathers Trust DJH Audit Lirniled Oriel House 24 Oriel Road Bootle L20 7EP
Sacred Heart Fathers Trust ontents of the Financlal Stateménts for thtr Year Ended 30 June 2025 Page Report of the Trustees Report of the Independent Auditors 7 to 8 ststomont of Financial Activities Balance Sheet 10 Cash Flow Statement Notes to the Cash Flow Ststernent 12 to the Financial Statements 13 to 22
Sacrèd Heart Father¥ Trust Report of Tru$t¢os forthe Year Ended 30 JU 2025 The trustees present their report with the financial stalernenls of Ihe charity lor the year ended 30 June 2025. Thè Iru8lees have adopted the provisions of Accounllng and Reporting by Charilies.. Statement of Recommended Praclrce applicatAè lo charities preparing their accounts in accordanc8 with the Finan81 Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021 (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objèetrve$ and aims The pmcipal objefAive of the charity is the advancement ol religion. This indudg$= The pastoral care of individuals and group5. To provide places of spiritual retreat. courses in peT50nal development and religious education Assistance with the on-going education of children and young 8dulls Thè rèlief of poverty and 8ickness at home and abroad. To assist in the rèlièf of poverty and 115 consequences in areas of the mission of the Gongregation and in areas of natural di5aster5. Welcoming students from poorer countries lo study al accredited educational facilities in the UK and Ireland. Welcoming students lo study at recognised English language schwls to enable the international development of e Congregation. Providing places of r8tr8* open lo all. Life- long care for the members. To promote the spiritual, moral, and intelledual wellbeing of the Member5 of the Congregation. To provide services and nursing care for the sick aThJ elderfy Member3 of the Congregati)n in accordan with tha core value5 and ethos of the Congregation. Page 1
Sacred Heart Fathers Trust Report of the Trustees forthe Yèar Endéd 30 June 2025 ACHIEVEMENTS AND PERFORMANCE Charitsble activities The rnain object for which tt)e charty is estsblished is lo advan religion through the education81, and tharitable works carried on by the Congregation of The Priests of the Sacred Heart of Jesus in England and Wales, Scotland, Ire18nd and throughout the World in accordance wrth the ethos, mission and philosophy of Father Leo John Dehon and to provide for the Membws of the Congregation during their lives. The Sacred Heart Fathers ¢onlinue lo offer support for students, adults. retreats, quiet lirnes. spiritual directH)n and accompanirnent for individuals and groups in various locations Ihroughout Great Britain and Ireland. By rt5 very nature the Congregats'on is an apostolic institute., and $0 we readily place ourselves at the service of the Church in ils varK)u5 pastoral works. The charty provides faalilies where individuals and groups can gather for periods of prayer, silen and recollection. It also provides for the religious needs of people by providing religious services and offering spiritual guanCe. The adminisirative Centre for Ihe group is at St John's, Stockport, where. as well as offices for tt)e Provin AdrninistratK)n. provision is made for older members, assisted by the servi$ of the Sl John of God Hospitaller Service. The Sa¢red Heart Fathers witnesses to the Christian faith in both the local and wider community through the provison of worship and prayer spac8. Vvhile Sl John's is ihe administratwe ntre and a residenTr for the eldeily, the facxlities of the house ale also used to enable people lo participate in liturgies and gatherings for prayer. Courses on faith development are offered and groups are abla lo attend for day retreats or days of recollection. At St John's. the Sacred Heart Fathers 81$0 provide for the human development ol people by providing courses on psychology and spirituality. Visiting members of the Congregation from abroad are also wel¢otlled al Sl. John's. Mernbers come for meetings of the Sacred Heart Fathers and have the possibility to spend some time of sabbatical the. Members of the cornmunity * St John's assisl in neighbouring parishes a5 well as providing opportunities for prayer and worship at the ntre itse. There wa5 an decrease in Maintenan costs at St John'5 during the period, However, maintenanTr is an ongoing issue. Also heat and light costs increased due to the newj to provide a warn) and safe emfironmenl for the eklerty there. Sl John's is also the setting fu the Promotlons Office - the funclion ol which is to pronN)te the spirituality of the Sacred Heart and lo keep in contact with benefactors. Various tnailing5 are sent out during the year to our benefactors during the year. A letter is written al least l¢e a year informing benefactors of recent new5 and events and inviting them lo make a contribution to the work of th8 Sa¢Ted Heart Fathers. The Sacred Heart Fathers greatly value thelr benefactors 8nd their generous contributions. Currently. the Order administers the parish of St John Vianney on behalf of the Archdiocese of Dublin. In the pastoral care of those entrusted to us we aim lo give conoyele expression to our spirituality and develop the life ol the Church. In the parish ltr Sacred Heart Fathers minister to people of all age groups - providing religious servIs, pastoral accompaniment and enabling people to participate in liturgies. Therè is also 8 developing multicultural focus in Ihe parish with ministry to Indian, Polish, Filipino, and other nationalities attending ser¥icas thgre. Tha Sacrèd Heart Fathers assist in other parishes in Eng18nd and Wales. Scotland and Ireland. Thè Salxèd Heart Fathers are committed to Fyovlde support and assi8tsn in the safeguarding of children and vulnerable adults. The Trust implements best practi in safeguarding, ensuring that children and vulnerable adujts are safe and well looked after while in the care of any ministry of the Congregation. Members attend training in safeguarding and ensure continual professlonal development. The Charity is affiliated to the National Religious Lrfe Safeguarding Service in England and Wales. the National Board for Safeguarding Children in the Catholic Church in Ireland and The Scottish Catholic Safeguarding Standards Agency. It also has th8 servi(*s of 8 S8feguarding cTrordinator and has a designated liaison person. All rnernbers coming from abroad to engage in any publ ministry musl promde a leslimony of suitability. agree to poll¢e vetting and comply with all Safegua1ng policies and procedures. ThÈ Sacred Heart Fathers are committed to propedy r&sourc& and financ8 any safeguarding initiative. The Congregation continues lo develop our ministry at Smithslone House, KIInning. Ayrshire, Seotland. ¢ornmunty organise religious seNices and a spiritual formation courses. Adult faith formation courses and days of retreat are given al various times. It Is possible f¢r people lo spend lirne here undislurbed. in silence and Iranquillity. Facilities are developed and improved to provide better Spa for visitors on retreat or attending religK)us services. This place, for silen, prayer and rèfle10. is open lo all people who seek personal neWa1 and space. We will continue to use our facilities for prayer and retre81- tx)Ih for individuals and groups. A particular focus in the period was to continue lo improve the facilities of the house and grounds. Both ¢onlilbute lo ¢re81ing a sparR for prayer, silence and ollection. This is reflected in the expenditure of the period. th this in mind, the communty at Smilhstone House a150 seeks to promote the protection of the natural environmant through education and encouraging public awareness on the importance of the protection of the environment. New shrubs and trees are planted each year as part of our commitment to care for the environment. Thi$ also reflects the rrent thinking, rooted in the writing of Pope Franas. of caring for the earth and our natural environment aÈso as a path of prayer, renewal. refreshment and finding God in nature. Page 2
SaerÈd Heart Fathers Trust Report oftho Trusts¢$ forthe Year Ended 30 Junè 2025 The community at Inchicore Road, Dublin, Ireland, is the main fomiation community and welcomes new c8ndidale$ lo the Congregation. 11 is also a residen for elderly retired members. As the ntre ol formation it also welcomes students from the Congregation who come from abroad to Study. Members of the Congregation from other Provinces, such as Spain, Portugal and Italy are welcomed at Inchicore Road for periods of sabbatical and renewal. Others members, particularfy Asian 8nd South American, join with the community while attending English language courses Dublin. This is to enable Ihosg mernbers lo develop their ministry lo English speakers throughout world both in the academic and pastoral settings. English language course fees increased during the period as individuals spent longer al the schools. Since members from abroad attend various academic and training courses the communty al Inchicore Road ha5 higher spending in this area. The community also w8komes indNiduals and groups from the local CmrnUnty for person developrnent and spiritual growth. The community at Inchicore Road fs also a centre for the care of sick, retired and eidedy members from the Pmin. Maintenance costs at Inchicore InCaSed rèfleding extra plumbing and electrical costs. To provide for the care of the elderly two staff are employed. Consequently, the community al Inchicore Road has a higher wage bill than any other comrnunty. 11 also ha8 the assistan of qualifkd volunteers available to 8S5151 in care giving. Elderty members in each community house continue to be available to support the work of the Trust thrOh prayer. being available to listen to and support individuals come lo our houses. Often this is an undervalued ministry Sin it is quieter bul il Is 8 real service offered to people. Mhen the Community 13 unable to provide a level of appropriate care, individual sick and elderly members can become resident in a nursing home. Depending on the needs of the individual, this can be on a temporary or permanent basis. This situation is Constant under rewew. It Is our intenlK)n that all members should be able to stay In the community for as long as possible. However, It is likely that Ihls cost will increase in the future- as more professional assistance Is required for the sick and elderly. The Trust supports members of the Sacred Heart Fathers who work IF7 Some of the poorest parts of Europe, Moldova / Transdniesler and across the world in the Philippines, Vietnam and Cameroon. The fund for Molck)va was set up after the visit of the Provincial to the area some years ago - and is a response to the extreme p)vety of people Iheig. The fund is used lo help the Congregation develop its spiritual and social mi$sion in Moldova - providing material aid and also helping to support the pastoral work of the Congregation in Moldova. funds will be used lo alleviate povety, give support to local Communit$, providing aduEt and youth formation, and prowde part contribution towards the building of pastoral centre and churches. local medical centres 8nd so on. The projed is part of contribution of the Congregation lo the overall mission of the Church in Moldova. In line with Catholic social teaching, the charrty wll respond in the relief of povety and its consequen$ both at hoTne and in areas of the Mission of the Congregation and in aieas tsf natural di58slers. here appropriate the Charity will liaise with other bodies involved in charitable works having a main 0.eCt similar to those of the Sacied Heart Fathers Trust. This is an expression of the philosophy and ethos of the Sacred Heart Fathers. Members are also committed lo the philosophy and practi outlined by Pope Franry$ in his EnclIcal, Laudato Si lour common horne is like a sister with whom we share our lifel. Each community uses volunteers in various capacities. The roles now include assisting in administrati(, (xring lor the sick, elderly and disablèd lincluding some volunteer retired nurses), housekeeping and cleaning. Mthilst the volunleer3' work is greatly appreciated it is not apprtspriatè to place an econornic value on it and it is therefore not included in the Slalemenl of Fin8ncial Activities. Like all Religious Orders in Europe Ihe Congregation has seen a dedine in membership in recent years mainly due to the death of elderly membeis. However, priests and brothers from other parts of the Order have come to live and rninisler here on a pem)anent or extended basis lahMay5 in Ix)mpliance with visa regulations when required). The International l¢adeiship of the Sacred Heart Fathers in Rome is keen to promote the exchange of appropriately qualified personnel. Exchange of personnel is afv4ays under revi and all must comply with p)lice vetting and safeguarding policy. Part of the work of the Charty is to promote vocations and onwng fomati¢)n. This Ts to edUe aryl train botr current and new Members of the Congregation. In recruiting new members, the Charity hope to carry on its work. In providing ongoing formation (or continual profession development) to current members the Charity aims to maintain a professonal standard of seNice. Th& Order will Continue lo bok for new ways of fvnd raising during the year and seek to attract donors. It wlll 81$0 continue to develop our promotions resources and Mater1. It wll continue to develop links wth other regions of the Congregation to foster the excharYJè of personnel. It will also continue to support the education of future pn'ests and brothers for the Order. The Trust will continue to use it5 iesources for public benefit. The Province will continue to build on the work already being and seek new and creative ways to promote and develop the work of the Trust. Page 3
Sacred Heart Fathers Trust Report of the Trustees forthe Year Ended 30 June 2025 FINANCIAL REVIEW The Provincial Bursar reports regulady lo the Truste&s and receives financial reports bi-annually from all thè communities which are then remewed. Cash Rèserve5 and Investrnents From the balan sheet on page len of this report 11 ¢8n be seen that there was an increase in the valuè of the trust from 211.304.848 10 £11.378,844. Cash held in bank accounts and in hand has marginally increased from £3,017.517 10 £3,307.916. The land al Redboume in Hertfordshire remains let out as farm lar)d. We renegotiated the rent a few years ago but we Continue lo look into way8 that this resource can improve fts relum for the trust. STRUCTURE, GOVERNANCE AND MANAGEME Structure The Congregation of the Priests of the Sacred Heart ISCJI was founded in France, in 1878. In Great Britain and Ireland the Congregation is known as the Sacred Heart Fathers. In other parts of the world its rnembers are known as the Dehonians in reference tts the Founder, Fr. Leo John Dehon. The Sacred Heart Fathers IS a ReluJious Congregation of men wthin the Roman Catholic Chur¢h. 11 is an international Rekngious Congregation of over 2300 prie$ls and brothers living and working in 42 countries in five continents. The conggatIon is divided into Provinces, Regions and DiStrt9. The Grèat Britain Ireland Provin compr¢ses England, Scotland and Ireland. The Gongregation first came to England in 1936, to Scotland in 1970 and lo Ireland in 1978. Within Great Britain and Ireland (thè GBI Provintsl it operates as a charitable trust with a single governing body, namely the Provincial Council, which manages the group according lo the trust deed of the Charity and the Canon law of the Churd). The Provancial Council 8re the trustees of the charity together with the bursar. There are regular meetings of the Provinaal Council throughout Ihe year. Financh?I matters are (fiscussed by thè trustees at de51gnated meeltngs. The Sacred Heart Fathers operate in aCrdance with theyr Conslilutsons and also the Provincial Directory ol September 2014. Rlsk Manag•m•nt The trustees accept their sponSIbl[ty lo carry out and to respond to a regular rewew of the iisks to whith the Charity is exposed. By means of audits and expert guidance they seek to ensure that appropriate financial controls arè In place to provide reasonable assuranTr against error and fraud. Managernenl recommendations arising from the annual audit a fully disGussed 81 a finance meeting of the trustees and whenever changes are required lo be rnade these are implemented as lully and quickly as possible. Public B•rit The trustees acknowledge th8 Charity Commission's guidan on publ Bènèfit and have taken this into acoiunl when reviewing and planning their activitie5. In their planning for 2024 - 2025 they considered in particular, how best to use the resources ol the Charity in respect of thè duty of care owed to the older members. They agreed the improvement of facilitie5 at Inchi¢ore Road and Smithstone House to improve facilities for prayer and reflection. The community at Inchicore Road welcomed more members for study and ongoing formatt.on enabllng contlnuing professional development essential to our rninislry to people. They also welcomed members who wished to develop a professional competency in English lo work in unNersities in Europe and Asia. Also. when appropriate, the trustees wll invite these and other mernbers back to the Province to give retreats oi days of recollection lo people from other natk)nalilies who may want lo avail of our farilitEs and seTvices. The plan for the ongoing Ministry at St John's, Stockport was also reviewed and agreed. On-Golng Tralnlng I Protsssional Development New trustees are glven tnduclTon and training as appropriate and have been provided with relevant matertal. ICC3. & CC35, from the Charity Commission for England and Was) The bur58r attends course5 and conferen$ deslgned lo keep him up-to-date with best praclfce in Bril8in and Ireland. He has professional assistsn¢& from a firm of chartered accountants with understanding of the Charity sector. The bursar is a member of the Association of Province Bursars IAPBI and participates in professional dèvelopment prograrllmes nationally and intemationally. Page 4
Sacred H•art Fathèrs Trust Report ofthe TrLFstses for the Year Ended 30 June 2025 REFERENCE AND ADMINISTPATIVE DETAILS Registered Charlty numbor 215011 Principal address St John's 266 Wellington Road North Stockport Cheshère SK42QR Trustèès Reverend H Hanley SCJ Reverend J Kelly SCJ Reverend R Mann SCJ Reverend M Szalwa SCJ Reverend M S Temgo SCJ Auditors DJH Atsdit Miled Oriel House 2-8 Oriel Road Boolle L20 7EP Prlnclpal Solicitor¥ Royds RDW 2 Crane Court Fleet Street London EC4A 2BL Prin¢ipal Bank Lloyds Bank Regent Street Wrexham LL11 1SE Allied Irish Bank Steiling Branch St Helen's 1 Undershaft London EC3A 8AB Registsred in Scotland SG 041571 Registered in Ireland CHY7096 Page 5
Sacred Heart Fathers Trust R&port of the Trust¢¢$ for thè Yaar Ended 30 Junè 2025 STATEMENT OF TRUSTEES. RESPONSIBIUTIES The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance wilh law applicable lo charities operating in England and Wales, and in Scolland, namely the Charities Act 2011, Charity (Acoounls and Reports) Regulations 2008. the Charities and Trustee Investment (Scotlandl Act 2005, Ch8rilies Ar£ounts (Scotlandl Regulations 20( and the provisions of the trust deed requires the trustees lo prepare financi81 statements for each financial year which give a true and tsir view of the stale ol affairs ol charity and of the incoming resour$ and applulion of resoUrs, including the income and expenditure. of the chaiity for that peiiod. In preparing those ffinancial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently,. observe thè methods and piinaples in the Charity SORP., make judgements and estimales that are reasonable and prudent; prepare the finanual slalements on the going concem basss unless is Inapproprfate to presume that itr charity will continue in business. The tfUStee5 are responsible for keepin9 proper 8cxounling records which disdose with reasonable accuracy at ary time the financial positson of the charfty and lo enable them to ensure that the finanual statements comply with the Charities Act 2011, the Charity IAccounts and Reportsl Regulations 2008, the Charities and Trustee Investment IScotlarKII Ad 2005, the Charities Accounts (Scotlandl Regulations 2006, and the provisions of the trust deed. They are also responsible for safeguardirig the asset5 of the charity and hence for tsng reasonable Steps ft)r the pravèntlon and detection of fraud and other Irregularities. 2510512026 Approved by order of the board of trustees on.................................. and signed on its behalf by. Revend J Kelly SCJ- Trusloe Page 6
Rèport of the Indèpendent Auditors to the Trustees of Sacred Heart Fathers Trust Opinion We have audited the financial statements of Sacred Heart Fathers Trust (the 'charity'l for the year ended 30 June 202$ whith comprise the Statement of Finanaal Actwitiès, the Balan Sheet, the Cash Flow Statement and notes to the finana81 statements, including a summary of significant accounting policies. The finanrial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acceptad Aceounting Pradicel. In our opinion the financial statements.. give a true and lair view of the state of the chantrfs affairs 8$ al 30 June 2025 and of its incoming resources and application of resources, for the year then ended.. have been properfy prepared in accordance wrth United Kingth)m Gen6ra11y Accepted Aounting Practice., and have been prepared in accordance with the requirements of the Charities Act 2011 and the Charities end Trustee Investment (Scotlandl Ad 2Crf)5 and regulation 8 of the Charitie5 AUnts {Scotlandl Regulat)n$ 2006. Basis for opinion We conducted our audit in accordance vith Intemaiional Standards on Audthng IUKI {ISAs IUKII and applicable law. Our iesponsibilitie5 undei those stsndards are further described in the Auditors, respon$ibilitie$ ft>r the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to OLJr audit (yf the financial statements in the UK, including the FRC'S Ethical Standard, and we have fvifilled our other ethical responsibilities in accordan with these requirements. We believe that the audit ewdence we have obtained is sufficient and appropriate to provide a basis for Ir opirtion. Con¢lu¥ions relating to going concern In audrting the financial statements. we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financia statements is appropriate. Based on the work wa have perfomed, we have not identffied any material UnrtaIntieS relatin9 to events or condltions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concem for period of at least Nvelve months from when the financlal $lat¢menls a aulhoris&d for issue. Our SPonsibl11tieS and the responsibilities of the trustees with respecl to going concem are desCrid in the relevant sections of this report. other infomiation The trustees are responsible for the other inlorrnation. The other infomiation comprises the infomation induded in Ihe Annual Report, other than the financial statèments and our Report of the Independ8nl Auditors thereon. Our opinion on the finanoal slalements does not cover the other information and, except to the extent othetwise explicitly stated in our report. we do not expres5 any fomi of assurance conclusion thereon. In conne(*"on with our audrt of the financial statements, our responsibility is to rèad thè othèr infomation and. in dcing so. consider whether the other infomation is materially incnnsistent with the financial statements or our knowledge obtained in the audtt or ()th&rwis8 appears to be materially rnisstated. If we identify such rnaterial inconsistencies or apparent rnaterial misstatements, we are reqUId to determine whether this gives Thse lo a rnaterial mi$51alement in the financial stalernents themselves. If, based on the work we have perfomed, we conclude that there is a m8letiaS misstatement of this other infomation. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by excepUon We h8ve nothing to report in respect of the following matters where the Charities IAccounts and Report$l Regulations 20Q8 and the Charrties Accounts (Scotlandl Regulations 2006 requires us to report to you if, in our opinion.. the information gwen in the Report of the Trustees is inconsistent in any material respect with the ffinancl statements.. or - suffiaenl accounting records have not been kept., or - the financlal statements are not in agreement wth the accounting records and returns.. or - we have not reiVed all the information arKI explanations we require for our audit. R•sponsibiliti•s of trustees As explairned rrore fully in the Statement of Trustees, Responsibilities, the trustees are responsible for the preparation of the financial statements whith giv8 a true and fair view, and for such internal control as the trustees determine is neSSary to enae the preparation of financial statements that are free from material mi5slaternenl, whether due to fraud or error. In preparing the finanual statements. the trustees are responsible for assessing the charity's ability to continue as a going COnM, disclosing, as appliG4ble, rn8tters related to going concem and using the going conrn basis of aco)unting unless the trustees either intend to Iv4UKl8te the charity or lo cease operations. or have no realistic allernalive but to do so. Page 7
Report of the Independent Auditors to the Trustses of Sacred Heart Fathers Trust Our responslbllltl•s for thtr audit of the financlal ststements We have bèèn appointed as audilors under Section 144 of the Charities Act 2011 and under Sectlon 44111¢ of the Charities and Trustee Investment (Scotlandl Ad 2005 and report in accordance with those Acts and rèlevanl regulaltons made or havlng effectlhereunder. Our objectwes a to obtain reasonable assurance about whether the finandal stemenls as a whole are free from rnalerial rnisstalernent, whether due tr) fraud or error. and lo issue a Report of the Independent Auditors that indudes our opinion. Reasonable assurance is a high level Of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstalemenl when it exists. Misstatements aiise from fraud or error and are considered material if, individually or in the 8ggregale, they could reasonably be expected to Influen the ecLnomic deasions of users tsken on the basis ofthese finandal stslemenls. The extent lo which our procedures are capable of dtrleding irregularities. including fraud is detailed below.. The objectives of our audil are to identify and assess the risks of m81erial misstatement of the finanual statements due to fraud or error,. to obtain sufficient appropriate audit evidence regarding thè assessed risks of rnaterial misslatemenl due to fraud or error,. and to respond appropriately to those risks. Owing to the inherent limit81ions of an avdil, there is an unavoKlable risk that mater1 misstatemènts in the finan81 statements may not be detected, even Ihough the a111 s properly planned and performed in accordance wth the ISAS IUKI In identifying and assessing rtsk of material misstalernent in respect of irra9ul8rit, clUdIng fraud and non-compliance with laws and wulations, our procedures included the following". - We obtained an understanding of the legal and regulatory frameworks applicable lo the charity and the sactor in wh¢h It operates. We d&lermined that the following laws and regulali(ns were most significant.. the Charities Act 2011. the Charities and Trustee Investrnenl Iscotlandl Act 2005, regulation 8 of the Chaiilies Accounts Iscotlandl Regulations 2006. UK corporate tax laws, UK employment laws alld UK health and safety regulations. We i)blained an understanding of how thè Charity is complying with those legal and regulatory frameworks by making enquiries of management, reviewing the board meth.ng minLrtes, reviewing the legal costs incurred in the year and enquiring with management to the CirmStanCeS around these legal eosts. We assessed the SUsptibIlity of the Chariws financial statements to materialty misstatement. including how fraud rnight 0Ur. Audit prcrRdures performed by thé al11 engagernent team induded.. identrfying the contro15 that rnanagement has in place to prevent and detecl fraud,. chalenging assumptions and ludgemenls rllade by rnanagernent in ils signfficant aceountiNJ estimates.. auditing the risk of management tsverride of controls, including through testing journal entries and othèT adjuslrnenls foi appiopriateness, and evaluating the bLtsiness rationale of Significant transactions outside the normal course of business", . assessing the extent ol compllance with the relevant laws and regulats'ons. A fijrthèr dèscription of our responsibilities for the audit of the financial slalernents is located on Ihe Financial Reporting Counal's website at ¥.fr¢.0rg.ukladltQrS responsibilbties. This descripllon forms p8rt of our Report of the Independent Auditors. Use of our report This report is made solèly lo the charitls trustees. as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulalions 2008 and in accordance with Regulation 10 of the Charities Accounts{Scotlandl Regulations 20(. Our audit work has been undertaken so that we rnighl slate to the charitys trustees those matte15 we are r8quir8d to state lo them in an auditors, report and for no other purpose. To Ihe fvllest extent perrnitted by law, we do not a¢pt or assLJme re8ponsibilily to anyone other than the charity and the charitYs tru51ees as a body, for our audit wc(k, for this report. orbrlhe opinions we have formed. DJH Audit Limited Oriel House 2-8 Oriel Road Bootle L20 7EP Dale.. 27105r2026 Pagè 8
Sacred Heart Fathers Trnst ststement of Financial Activities for the Year Ended 30 June 2025 30.6.25 Total funds 30.6.24 Ttstal funds Unrestricted fund$ Restricted funds Notes INCOME AND ENDOWMENTS FROM Don8b"ons and legacies 25,2S2 25,252 186,897 Charitablè aetivities General 121.111 121,111 115,387 Other Irading activities Investment income 8,608 294,139 287,754 287.753 Total 434,117 434.116 605.031 EXPENDITURE ON Raising funds 21,506 21,506 19.466 Charitsbla a¢Wvltl¢g General Extraordinary rtem 5.119 551,162 633,768 157,863 Totsl 567,549 5,119 572.668 811,097 Nel gains on investments 212,548 212,548 484,520 NET INCOMEIIEXPENDITUREI 79.116 15.1201 73.996 278,454 RECONCILIATION OF FUNDS Total funds brought forward 11,098,511 206,337 11,304,848 11,026.394 TOTAL FUNDS CARRIED FORWARD 11,177,627 201,217 11,378,844 11,304.848 The notes foim part of these finan¢i81 slalements Page 9
Sacred Heart Fathers Trust Balan¢e Sheet 30 Jurt• 2025 30.6.25 Totsl nds .6.24 Totsl funds Unrestricted funds Restd¢t8d funds Notes FIXED AssErs Tangible assèts Investmer Investments Investment property 13 1,871.120 1,871,120 1,884.808 14 15 6,897,873 so.000 6,897,673 50,000 6,719,877 50.000 8.818,993 8,818,993 8,4,685 CURRENT ASSETS Debtors Cash at bank and in hand 16 7.920 3,106,699 7,920 3,307.916 419,411 3,017,517 201.217 3,114,619 201,217 3,315,836 3,436,928 CREDITORS Amounts falling due within one year 17 1755,98SI 755,9851 1786,7651 NET CURRENT ASSETS 2.358,634 201,217 2,559,851 2,650,163 TOTAL ASSETS LESS CURRENT LIABILITIES 11.177,627 201,217 11,378,844 11,304,848 NET ASSETS 11,177,627 201,217 11.378,844 11,304.848 FUNDS Uniestricted furKIs Restricted funds 19 11.177,627 201,217 11.098,511 206,337 TOTAL FUNDS 11,378,844 11,304.848 Thè fin8nctal 81alements were approved by the Board of Trustees aThY authorised for i&sue ..2510512(Y26.................. arKI were signed on its behalf by.. on UT J Kelly SCJ . Truslee The note5 fom part ofthese finanaal statements Page 10
Sacred Heart Fathers Trust Cash Flow Statemènt forthe Year Ended 30 Jun• 2025 30.6.25 30.6.24 Notes Cash flows from operating activities Cash generatéd from opèrations 7,024 1750,4391 Net cash provided byllused inl operating *tiviti&s 7,024 1750,4391 Cash flows from investing activities Purchase of tangible fixed assets Sale of tangible fLYed assets Sale of fixed asset investments Interest reiVed Diwdends reiVed 155,8471 18,553 34.551 1,745 284,373 113,0721 2,025 17,758 2,422 290,143 Nel ¢a$h provided by investing activities 283.375 299.276 Change in cash and cash equivalents In the reporting period Cash and cash equivalents at the btglnnlng of the reportlng period 290.399 1451,1631 3,017,517 3.468,680 Cash and cash equivalents at the end of the reporting period 3,307,916 3.017,517 The notes fomi part ofthese finanrial slatements Page 11
Sacred Heart Fathers Trust Notes to the Cash Flow Statement for the Year Ended 30 June 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 30.6.25 30.6.24 Net income forthe reportlng perlod las perthe Statement of Financial Activities) Adju$tments for. Depreciation charges Gain on Investments Profit on diswsal ol fixed assets Interest received Dwidends received Decre8sellincreasel in debtors Decrease in cxedilors 73,996 278,454 69,532 1212,5481 {18,5491 11,7451 1284,3731 411,491 130,7801 57,3e8 1484,520} 17661 P,4221 1290.1431 (288.4) 119,9741 Net eash provided byllu$ed in) operations 7,024 (750.4391 ANALYSIS OF CHANGES IN NET FUNDS At 1.7.24 Cash 11ow At 30.6.25 Net cash Cash at bank and in haThY 3,017,517 290,399 3,307,916 3,017,517 290,399 3.307,916 Totsl 3,017.517 290.399 3,307,916 The notes fom part ofthese finanual statements Page12
Saered Hèart Fathers TTU¥t Notes to t FinaneFal Statements for the Year Ended 30 Junè 2025 ACCOUNTING POUCIES Basls of prèparing the financial statements The fin8n(i81 statements of the charity, which is 8 public benefit enlty under FRS 102, have been prepared accordance with the Charities SORP IFRS 1021 'Accounling and Reporting by Charities.. Statement of Recommended Pia¢ti¢e applicable to charities preparing Ihwr accounts in accordance with the Financial Reporting Standard appliixble in the UK and Republic of Ireland IFRS 1021 Igffective 1 January 20191., Financial Reporting Standard 102 The Finanual Reporting Standard applicable in the UK and Republic of IrelarKI' and the Charities Act 2011. Thè financial statements have been prepared under the histori(31 c051 convenb"on. with the exTrption of investments whith are induded at market value, as modified by the revaluation of certain assèts. Income All income is recognised in the Statemanl of Finanaal Activities once Ihe charity has entitkment lo the funds, 11 Is probable that fhe income will be reiVed and the arnounl can be measured reliably. Expenditure abilities are recognised as expenditure as soon as there is a legal or construdive obligation committing the charity lo that expenditure, it is probable that a transfer of economic benefits will be required in settlem8nl 8nd the 8mount of the obligation can be measured ieliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all ¢osl ielaled lo the category. Where costs cannot be directly attributed to parb"cul8r headings they have been allocated to activ"rtie5 on a basis consistent with the use of resources. Support costs Costs which. whi16 necèssary to deliver an aclNiity. do not themselves produce th9 a¢tNity. They indude Ihe ntral office futKtions of the Charity and are often apportioned to activities. The amount shtswn here is the total amount of support costs Ifor charitable, fundraising and govemance activit$) irKluded in resour9 expendad. They are apportioned al the following percentages. Governance costs Premises costs Comrnunication costs Travel Personnel Finanaal -100Y. .10% -50% -25% 10° - 2SY. Governance costs Expenditure on the goveman¢e costs of Ihe charty Itude$ expenditure that relates specifi(xlly to the strategic and future developmenl of the charity. Tangible fixed assets Depreciation is piovided at th8 fr)IloMng annual rates in order to write off each asset over Its esrnated useful Freehold property Equipment and furnknre Motor vehicles Computer equipment 2Q/u on cost 5°/0 on reducing balance 25010 on ¢xJsl 25¢/0 on reducing balan Investment property The investment property has been valued al £50,0 by the board oftrustees. Taxatlon The tharity is èxempl from tax on its charitable activities. Fund aeeounting Unrestricted funds can be used in accordance with the charitsble objectives at the discretion of the trustees. Designated lunds eompri5e unrestricted funds set astde by the trustees for parbcular purposes. The trustees operate each community and ryoject ofthe charity as a separate designated fund. Restricted funds can only be used for parlicular restricted purpose8 wlhin the objects of the charity. Restrictions arisa Wh sp9¢ified by the donor cl when funds are raised lor particular restricted purposès. Page 13 continued...
Sacred Heart Fathèrs Trust Notss to the Financial Statements- eontinued for the Year Ended 30 June 2025 ACCOUNTING POLICIES- Continued Fund accounting Further explanation of the nature and purpose of each fijnd is included in the notes to the financial statements. Fund transfers occur biannually in the charity tr) reallo<xte financi31 resources befvveen the designated funds and the general fund of the charity. Funds raised or donations auth0ri5ed by the trustees, for the restricted actiwties are also transferred. Foreign ¢urrencies Assets and liabilities in foreign currenaes are translated into sterling al the rates of exchange ruling at the balance sheet date. Transactions in foreign llenGIeS are 118nslaled into slerfing at the rate of exchange ruling at the date of tians8Cti Irwestments Investments are induded in the finonci818lalements al the year end market value. Income from investments, bank and other deposils are included on an accruals basi$. DONATIONS AND LEGACIES 30.6.25 30.6.24 Donations Mass stipends Stole fees Supply fees LegleS 2,771 12,721 6,485 8,639 5.227 8,600 157,946 6,760 3,000 25,252 186,897 OTHER TRADING ACTIVITIES 30.6.25 30.8.24 Other income 8.608 INVESTMENT INCOME 30.6.25 30.6.24 Rents received Dend income Deposit account interest 1.635 284,373 1,745 1,574 290,143 2.422 287,753 294,139 Page 14 contirwed...
Sa¢r&d Heart Father¥ Trust Notès to thè Financial Statements- continued forthe Year Ended 30 June 2025 INCOME FROM CHARITABLE ACTIVITIES 30.6.25 30.6.24 Actmty General Contribulions from memb8rs 121,111 115,387 RSING FUNDS Investment management costs 30.6.25 30.6 24 Portfolio rnanagement 21,506 19,466 CHARITABLE ACTIVITIES COSTS Support o)sts (see note 81 Direct Costs Totsls Gener81 470.383 80.779 551.162 SUPPORT COSTS Govemance costs M8nagernenl Other Totals General 50,970 28,464 80,779 OTHER 30.6.25 30.6.24 Support ¢o$l BO,779 227.672 10. TRUSTEES. REMUNERATION AND BENEFITS The were no trustees. remLmeration or other benefits lor the year ended 30 June 2025 nor for the year ended 30 June 2024. Trustses, ¢xpen$es There were no Iwstee$' expenses paid for the year ended 30 June 2025 nor for the year ended 30 June 2024. STAFF COSTS 30.6.25 30.6.24 Wages and salaries Social security costs 54,242 5,961 42,142 4.299 60,203 4e.441 The average monthty numbor of ernployee5 during the year was as follLyw$-. 30.6.25 30.6.24 Charitable Activit No employees received emoluments in ¢*$S of £60,CW. Page 15 nthnuèd...
Sacred Heart Fathers Trust Notes to thè Finan¢ial Ststements . continued for the Year Endèd 30 Junè 2025 12. EXTFiAORDINARY ITEMS An ex-gralia payment of £157,863 was made in ltr* previous year. The arnounl represents what the trustees considered to be a pastoral and rnoral obligation. The payment was intended as cornpensalion in recognition of the suffering caused lo one of its benefKiarie8 by a deceased rnember of the order. The incident which dated back to 15 camè to light during 2023. The trustees sought legal advice in respect of thi8 matter and this is now settled. 13. TANGIBLE FIXED ASSETS Improvernents to propety Equipment and furniture Frèèhold property COST Al 1 July 2rJ24 Additions Disposals 1,366,046 1.143.576 191,097 3,001 AI 30 June 2025 1,366,046 1,143,576 194098 DEPRECIATION At 1 July 2024 Charge for year Eliminated on di¥)0sal 543,869 27,321 284,161 22,871 12,856 662 At 30 June 2025 571,190 307,032 13.518 NET BOOK VALUE At 30 June 2025 794,856 836,544 180,580 At 30 June 2024 822,177 859.415 178.241 Fixtures and fittings otor vehicles Cornputer equiprnenl Totals COST At 1 July 2024 A(Iditions Disposals 14,871 479 65,462 52.367 14S,410) 3,181 2,784,233 55,B47 14S,4101 AI 30 June 2025 15.350 72,419 3.181 2,794,670 DEPRECIATION At 1 July 2024 Charge for year Eliminated on disposal 5.082 513 $0,511 18,105 145.4061 2,946 59 899,425 69,S31 14S,4061 At 30 June 2025 5.595 23,210 3,005 923.S50 NET BOOK VALUE At 30 June 2025 9.755 49,209 176 1,871,120 AI 30 June 2024 9,789 14.9S1 235 1,884,808 Included in Equipment and furniture are paintings and works of art that were gifted to the charity in 2002. These assets are believed to have fesiduat values not materially differènt to the CArrying valuès and are therefore not depreciated. These assets were independently valued in March 2CL12 with a value of £168,000. The reF4acement Value ftsr Insuran purposes al September 2014 was approximately £296.000. Page 16 continued...
Sa¢red Heart Fathers Trust Notes to thè Finan¢ial Ststements . continued forthe Year End•d 30 June 2025 13. TANGIBLE FIXED ASSETS- eontinued AI 30 June 2025 Smithstonè House in KilnIng So)rfand, is disdosed at a CArrying value of £249.677 including improvernenl costs of £243,090, in the opinion of the trustees Ihis has an approximate market value of £750,000. The rnarket value of all other freehokl propety is not considered to be materialty drfferenl from the carrying values. 14. FIXED ASSET INVESTMENTS UK quoted fixed interest Other investments Totals MARKET VALUE At 1 July 2024 Disposals Revaluation$ 6,700,038 134,5511 209,459 19.839 6,719,877 134,5511 212,S47 3.088 AI 30 June 2025 6,874,946 22,927 6,897,873 NET BOOK VALUE At 30 June 2025 6.874,946 22,927 6,897,873 At 30 June 2024 6,700,038 19,839 6,719,877 There were no investment assets olrtside the UK. Cost or valuation at 30 June 2025 is represented by.. UK quotad fixed interest Other listod investments Totals Valuation in 2022 Valuation in 2023 V81ualion in 2024 Valuation in 2025 Cost 1,389,071 1205,2851 472,449 174,908 5,043,803 11,0721 5,782 15,6871 3,088 20,816 1,387,999 1199,5031 466,762 177,996 5,064.619 6,874,946 22.927 6,897,873 15. INVESTMENT PROPERTY 30.06.2S 30.06.24 Agrultural land- Redboume, Hertfordshire 50,000 50,000 Page17 continued...
Sacred Heart Fathers Trust Notes to the Financial Statements- ¢ontinued for the Year Ended 30 June 202S 16. DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 30.6.25 30.6.24 Other debtors 7,920 419.411 17. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.25 30.6.24 Other creditors 755,985 786,785 18. LEASING AGREEMENTS Minirnum lease payments under non-cancèllable operating leases fall due as follows.. 30.6.25 30.6.24 Ihln one year 2.445 19. MOVEMENT IN FUNDS Nel movement in fvnds Transfers btheen funds At 30.6.25 Al 1.7.24 Unrestricted funds General fijnd Pensk)n Augmentation Inchicore, Dublin Promotitsns Sl. Joseph's, Stockport Smithstone House St. John's. Stockport Ardlea. Dublin Pilgritnag0 Fund 2.839.454 6.708,087 171,601 462,375 657 1131,4141 1255,9531 3,045,876 6,708.744 230,661 190,474 116,6241 49,939 1.297,363 24,247 24.441 116,6241 27,248 1,117,876 38.837 25,007 189.6911 1169,444 6,068 566 67.000 {10,0431 8,522 11,098.S11 79.116 11,177,627 Restricted funds Moldova fund Fr O Wnne Book Fund 191,523 14.814 {5.1201 186.403 14,814 206.337 15,1201 201,217 TOTAL FUNDS 11,304,848 73,996 11,378,844 Page18 ujntinued...
Sacred Heart Fathers Trust Not8S to the Finan¢ial Ststernents. continued forthe Year Endèd 30 June 2025 19. MOVEMENT IN FUNDS- contlnuad Net movement in funds. inclucled in the above are as follows.. Incoming sources Resources expended Gains and losses Movement in fijnd UnTe8triGted funds General fvnd Pension Au9fTTr8nlalion Inchictsre, Dublin Prornotions Smithstone House Sl. John's. Stockport Ardlea, Dublin Pilgrimage Fund 284.336 134.5091 657 1156,3871 212,548 462,375 657 1131,4141 24,973 13.968 58.290 51,959 591 1103.6591 1227,7341 145,8911 1251 189,6911 1169,4441 6,068 566 434,117 1567,5491 212,548 79,116 Restricted funds Moldova fund 15,1191 15,1201 TOTAL FUNDS 434,116 1572,6681 212,548 73,996 Comparatlvès for mov¥ment in fvnds Net rnovemenl in funds Transfers between fun¢Js At 30.6.24 At 1.7.23 Unre8tri¢ted funds General fund Pension Augmenlalic Inchicore, Dub5in Promots'ons Sl. Joseph's. Stockport Smilhslone House St. John's, Stodtport Ardlea, Oublin Pilgrimage Fund 2,830.017 6.217,879 217,135 189.581 490.208 1176,9451 1180,1441 2.839,454 6.708,087 171,601 131.411 {13.8921 55,587 1,471,944 17.581 23,802 908 flO.6481 1168,2451 12,957 639 13,640) 65,000 16,336} 16.2911 {16,6241 49,939 1,297,363 24,247 24,441 10,820,057 278,454 11,098.511 Re$tri¢t&d fvnds Moldova fund Fr O Wynne Book Fund 191,523 14,814 191,523 14,814 206.337 208,337 TOTAL FUNDS 11,026,394 278,454 11,304,848 Page19 continued...
Sacred H¢art Father8 Trust Notes to the Financial Statements- continued for the Year Ended 30 Junè 2025 q9. MOVEMENT IN FUNDS - contlnuad Comparative net rnovement in funds, included in above are as folkjws.. Incorning resour5 ReSoUrS expended Gains and losses Movement in funds Unr¢$tricted funds General fund Pension Augrnentatvjn Inchicore, Dublin Promotions St. Joseph's, Slod¢port Smilhslone House Sl. John's, Stockport Arda, Dublin Pilgrimage Fund 448,557 1253.288) (5,6881 490,208 189,581 490,208 1176.945} 20,522 1197,4e71 7.148 15,541 55,091 57,533 639 16,2401 186,1891 {223,3361 144,5761 908 170.6481 {168.2451 12.957 639 605,031 1811.097) 484,520 278,454 TOTAL FUNDS eOS,031 1811.097} 484,520 278.454 A curienl year 12 rnonths and prior year 12 months combined position is as follows". Net movement in funds Transfers belween funds At 30.6.25 At 1.7.23 Unrestricted funds General fund Pension Augmentation Inchicore, Dublln Promotions st. Joseph's, Stockport Smithstone House St. John's, Stockport Ardlea, Dublin Pilgrimage Fund 2.830,017 6.217,879 217.135 6S1.95e 490,865 1308.359} 121 1436,0971 3.045.876 6,708,744 230,681 321,885 113,8¥21 55.587 1,471,944 17,581 23,802 13.6401 132,000 {16,3791 2.231 116,624} 27,248 1,117,876 38.837 25.007 1180,3391 1337,6891 19,025 1,2Q5 10.820,057 357,570 11,177,827 Restricted funds Moldova fund Fr O Vvynne Book Fund 191.523 14.814 (5,1201 186,403 14,814 2C6,337 15.1201 201,217 TOTAL FUNDS 11,28.394 352,450 11,378,844 Page 20 C4)ntlnued...
Sacred Heart Fathèrs Tru$t Notes to thè Financial Statèm•nts - continued for the Year Ended 30 June 202S 19. MOVEMENT IN FUNDS- continued A ¢urrenl year 12 months and prior year 12 months combined nel rnovernenl in fvnds, included in the above are as folltsws.. Incoming resources Resour expended Gans and losses Movernenl in funds Unrestricted funds General fund Pension Augmentatk)n Inchicore. Dublin Promotions St. J05eph's, Stotport Smithslone Housts St. John's, Stockport Ardlea, Dublin Pilgrimage Fund 732,893 1287,7971 657 1353,8541 121 16,2401 {189,8481 1451.0701 190,467) 125} 2CE,860 49),208 651.956 490,865 1308,3591 121 908 1160.3391 1337,6891 19,025 1,205 45.495 7,148 29,509 113,381 109,492 1,230 1,039.148 11,378,646) 697,068 357.570 Restricted funds Moldova fund 15,1191 15.1201 TOTAL FUNDS 1.039,147 11,383.7651 697,CE8 352,450 Transfers ••n funds Transfers between the indNldual unreslrided designated funds are rnade at the discretion of the trustees. RELATED PARTY DISCLOSURES Induded in Other creditors is a loan from Sacred Heart Fathers Education & Training Charity. Charity number 3C6099, whith is controlled by the the IDJstees of the charity. The loan advanced was £727.041 which is repayable on demand. 21. UNRESTRICTED FUNDS Thè gan8r fijnd may be used al the discretion of the trustees for the furtherance of the charity's obje¢tNes. 22. DESIGNATED FUNDS The tharity operates a separate designated futyj for each of the cc¥nmunilies and projects that it operates. Pension Au ment8ti The investment is held to generatè incoming OUrceS that wnliiixrte towa$ the financial supp¢Jrt of retired priests. Inchicore Dublin This fund represents thè income and expènditure rel8ting lo the house, which provides re$enCe for students as well as retired priests. Promotions The fund represents the Income and expendhure that rd8le$ lo the promotion of the carity. The fund iepresenls e income and expenditure that relates to the resident prSt, who woths In Ihe parlsh, and retlTed priests. Smithstone House The fund represents the income and expenditure relating to Smithslone House. whith operates as a house of prayer. Page 21 conlinue<J...
Sacred Heart Father5 Trust Notes to the Flnanelal Stat•ments- continued for the Year Ended 30 June 2025 22. DESIGNATED FUNDS - continued The fund represents the income and exkEnditure relating tr) the house that is Ihe residen of the Provinrialate as well as older peStS arml brothers. Ardlea Dublin The fund represents Ihe income and expenditure Ihal relates lo the resident west's who works in the parish. Pil rfma es The fund represents monies collected that were surplus to expenditure incurred on pilgrimage ffips the charity operales.The designated fund will be used to support tUre pilgrimage costs. 23. RESTRICTED FUNDS Moldova fund The income reiVed is US to supp¢)rt missionary work in Moldova. Fro nne B(x)k fund The Income lateS lo a legacy received towards the printing and promotlon of Ey)ok$ by Fr O Vvynne. Page 22