2025-10-31-accounts - HCPT (Hosanna House and Children's Pilgrimage Trust)

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

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

(Company Limited by Guarantee)

Audited Report and Financial Statements for the year ended 31 October 2025

Company Number: 01095198 Charity Number (England & Wales): 281074 Charity Number (Scotland): SC043743

HCPT is a volunteer-based charitable organisation founded in response to Our Lady’s invitation to go on pilgrimage to Lourdes.

Our aim is to enable those who may need help, especially the young, to experience pilgrimage, and we do that in small caring groups, seeking to share with joy, the gift of God’s love.

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

Report of the Trustees

For the year ended 31 October 2025

Chair’s Report

HCPT remains committed to delivering safe, supportive, and spiritually enriching pilgrimage holidays to Lourdes, fulfilling our mission to provide unique experiences for those who need them most, while offering respite for their families and carers.

2025 has been a year of resilience and transition for HCPT. While we continue to face financial and operational challenges, important progress has been made to strengthen the organisation and safeguard our mission for the future. Total funds stand at £4.33m, down from £4.62m in 2024. The deficit has narrowed compared to last year, which is encouraging. Investment returns improved significantly, delivering gains of £154k being up £5.7k on 2024, helping to offset some pressures. Legacy income was lower than the previous year, underlining the need to accelerate diversification through new fundraising initiatives such as the “Make Everyday Miracles” campaign.

Easter 2025 welcomed 1,238 participants across 65 UK groups, compared to approximately 1,300 participants in 70 groups in 2024. This slight decline reflects the challenge of Easter falling outside school holidays and the increase in costs due to HCPT having no central funding to assist with fares. To assist groups, there was the introduction of a shorter five-day pilgrimage option, which was designed to reduce costs and respond to feedback. While this flexibility was appreciated by some, it may have influenced overall participation.

Summer pilgrimages brought 575 HCPT pilgrims in 18 groups, supplemented by 24 external bookings at Hosanna House, generating a total of 7,275 bed nights. While non-core bookings provided valuable income diversification, overall occupancy remains significantly below historic levels (19% versus 45% at peak). This trend reflects wider socio-economic pressures on pilgrimage travel and reinforces the need for innovative approaches to increase utilisation. The year marked the launch of a strategic transformation programme designed to secure HCPT’s long-term sustainability. With the appointment of a new Chief Executive, we have initiated a 3–5 year change plan focused on refreshing our strategy, building organisational resilience, and empowering staff and volunteers to embrace new ways of working. This transformation is essential as we move beyond reliance on financial reserves and adapt to a changing fundraising landscape.

While legacy income has declined, we are actively developing innovative fundraising approaches to diversify revenue streams. In the short term, we have implemented cost-recovery measures and introduced digital tools and participation events to help offset increased pilgrimage costs, ensuring affordability remains central to our mission.

Emma Derby, our Chair resigned following years of service to HCPT and we are grateful for her dedicated service and continued support. Fiona McCormack has taken over as Chair of Trustees supported by Charlie O’Sullivan and Diane Reid as Co-Vice Chairs.

Despite these challenges, our pilgrimages continue to deliver what matters most: safe, supportive, and spiritual experiences that transform lives. The smiles in Lourdes and Hosanna House remind us that our impact goes far beyond numbers.

As we prepare for our Platinum Jubilee in 2026, themed “Together in Love” , we are focused on:

Strengthening financial sustainability and rebuilding reserves.
Expanding flexible pilgrimage options.
Growing engagement through digital tools and storytelling.
Celebrating our mission globally during the Jubilee year.

Page 2

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

Report of the Trustees

For the year ended 31 October 2025

We remain steadfast in our commitment to delivering pilgrimages that embody love, friendship, and joy and ensure that we keep Brother Michael’s vision at the heart of everything we do. With renewed leadership, dedicated volunteers, and strong faith in our purpose, HCPT is moving forward with determination and hope.

Together, we will ensure that the gifts of love, friendship, and joy continue to reach those who need them most.

On behalf of the Board, I extend heartfelt thanks to our staff, volunteers, supporters, and partners for their unwavering dedication during this pivotal period

Fiona McCormack BEM Chair of the Board of Trustees

03-Mar-26 | 3:16 PM GMT

Page 3

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

Report of the Trustees

For the year ended 31 October 2025

The Trustees, who are also Directors of the charitable company, are pleased to present their annual Trustees’ Report together with the consolidated financial statements of the charity and its subsidiaries for the year ending 31 October 2025.

OBJECTIVES AND ACTIVITIES

The objects of HCPT are in particular, but not exclusively, the taking of, or assistance in taking of, disabled children and adults on pilgrimage to Lourdes or such other place of pilgrimage as the charity may in its absolute discretion decide with the purpose of enriching the Roman Catholic faith and the relief of sickness and suffering.

The activities currently carried out for the public benefit by HCPT can be summarised as follows:

The Easter pilgrimage - HCPT arranges travel, accommodation, care and assistance for children and young people with a variety of needs to enable them to experience a pilgrimage holiday in Lourdes.
The Summer pilgrimages - in answer to a call from adult pilgrims, HCPT arranges pilgrimage holidays for people of all ages to its Hosanna House facility, in Bartrès near Lourdes, between May and October each year.
Self-catering and B&B pilgrimages – the central wing of Hosanna House provides a space all year round for families and small pilgrimage groups to spend time in Lourdes and the surrounding area.

The charity relies on approximately 3,800 volunteers to accompany our assisted children and adults on our pilgrimages to Lourdes. In addition, they give their time beforehand in group pilgrimage preparation, fundraising, training and administration. These volunteers are supported by numerous others who do not travel to Lourdes but assist in preparation and fundraising.

In arranging our pilgrimages and all our charitable activities we have regard for the general guidance on public benefit issued by the Charity Commission, and by the Office of the Scottish Charity Regulator.

ACHIEVEMENTS AND PERFORMANCE

Key Events

The theme of the 2025 pilgrimages was “Angels Among Us” and liturgies were developed by volunteers from the North East of England. Angels are messengers of God, and are all around us. Cardinal Tagle said we could recognise angels in our own lives if we looked hard enough. We think Lourdes is full of angels, especially when HCPT is in town! Knitters from around the country were busy knitting angels to give to the children on the Easter pilgrimage, which were warmly received. We want to give our heartfelt thanks and appreciation to all who made the 2025 pilgrimage so special.

Easter pilgrimage

1,238 people travelled in 65 UK Groups for the Easter 2025 Pilgrimage. Of these 615 were helpers in the family groups, caring for 286 children, supported by 295 Service Group members, and 42 others. The proportions of helpers / beneficiaries / others has remained consistent with previous years.

"Angels among us" was the theme of HCPT’s 2025 pilgrimages, taken from scripture, the story of Mary Magdalen who meets an Angel outside an empty tomb. This Angel gives her the good news that Jesus is alive! In our own lives, we might not meet angels with wings and halos, but there are people around us who – like angelic messengers – remind us of the good news: that Jesus is alive, love is alive! Hope is alive! All the liturgies for the 2025 season were prepared by volunteers from our North East region, and the Trust

Page 4

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

Report of the Trustees

For the year ended 31 October 2025

Mass, our largest event of the year was celebrated in Lourdes by Bishop Paul Mason, RC Bishop of the Forces.

“My favourite thing about Lourdes was how friendly the faces were.” Joe

50 family groups (where helpers care for beneficiaries) and 15 service groups made up the 65 groups from the UK. Among the volunteers were 29 registered nurses, 43 clergy (including an Archbishop and 3 Bishops) and 50 First Aiders.

Provision of charter flights is an essential aspect of providing accessible travel for our beneficiaries, but doing so is only viable if we can fill the planes. In 2025 had six 189 seat charter flights each way providing 2,268 seats in total. With 2,048 seats sold we filled just over 90% of the capacity. Our groups made use of 6,200 bed nights over 27 hotels.

Media coverage of the Easter pilgrimage included articles before and after the event in The Tablet, a guest editorial by Tricia Macfarlane in the Catholic Union Weekly Briefing, and coverage in the Independent Catholic News website.

Summer pilgrimages and Hosanna House

“My first impression of Hosanna House was that if heaven was anything like this I would be happy to go there.”

Maggie, volunteer helper

575 people in 18 HCPT groups booked to stay at Hosanna House during the 2025 season, with a further 24 non-HCPT bookings managed directly via the house.

Recent increases in non-core business has proven to be a popular and extremely welcome income source which helps offset the increasing costs of running the house at a time when the number and size of HCPT groups has been reducing.

The HCPT groups typically stay for 7 nights, taking up 4,025 bednights. The non-core bookings brought just under 800 people to the house, taking a further 3,250 bednights: 7,275 in total.

On the basis that there are 100 beds available at the house in any one week, the potential occupancy is 36,500 bednights. At the turn of the millenium it was typical to welcome around 2,300 people to the house from HCPT Groups alone, filling about 45% of the overall available capacity, this has now fallen to 11%, boosted to almost 19% by the non-core bookings.

This is not a one-off year: the number of people visiting Hosanna House has noticeably been in steady decline since 2008 – the year in which HCPT marked the 150[th] anniversary of the apparitions by hosting a conference in Lourdes ‘Called by Name’. Since then, a range of socio-economic factors have led to an overall downturn in both pilgrimage bookings from the UK to all destinations, as well as pilgrim numbers to Lourdes to which we are not immune.

In addition, several non HCPT groups paid commercial rates to use the house as a base for their pilgrimage or for winter sports. Guests from the French charity Agape Village organised several stays at the house.

Page 5

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

Report of the Trustees

For the year ended 31 October 2025

During the year, following the departure of the Hosanna House Manager, we were delighted to make an internal promotion from our core Hosanna House team. Lorenzo Trancoso has been appointed to lead the Hosanna House operation and is working well with our dedicated and long-serving team to ensure that each pilgrim has a wonderful experience.

The refreshed operational leadership team will continue to work with the Board of Trustees to ensure all avenues to maximise occupancy are explored, and are committed to providing the forecast data and trends to aid decision making in the best interest of the charity.

Other

We have switched our gatherings and engagement with our volunteer leaders to online, both to maximise attendance, recognising the geography covered by those who lead our mission from a volunteer perspective and to reduce costs. This has resulted in an increase in attendance at our regional meetings and also at our monthly ‘Open House’ meetings for our group leaders to engage with each other and with the central staff leadership team. We will continue to engage with our volunteer leaders to promote learning and development opportunities and as we look to the future, to understand if there are ways in which we need to adapt our offer to bring more people into the mission.

In October 2025, we launched our first co-produced storytelling communications and fundraising campaign, called “Make Everyday Miracles” (www.makeeverydaymiracles.org.uk). We know that our mission is life transforming and that many more people could benefit from what we do, if they knew about us. We worked with key stakeholders across the UK, including; beneficiaries and their families, our youth leaders and volunteers from across the mission to tell their stories of what being involved in the mission of the charity has done for them. This has been very well received and is an umbrella campaign which will run for at least 3 years as we reach into new communities to tell the story of HCPT.

During the Easter 2025 pilgrimage we began to make plans for our Platinum Jubilee year and to include our international partners in this as we recognise the diversity of our mission which has inspired people all around the world to replicate what began in the UK in 1956. The theme of our 70th year is: “Together in Love”,

Staffing at HQ Rugby

During the year we saw a number of staff changes and additions, both in the UK team, based in Rugby, and with those in remote working arrangements. We thank all those who served the trust during this year for all of their hard work and dedication to the ongoing vision and work of HCPT.

Congratulations to those who have moved on to new opportunities. As we prepare to restructure the organisation in the coming year, we have not made any new appointments during this period.

Departing

Kerry Arands, Fundraising & Communications
Rhona Baker, Interim Head of Finance
George Lark, Finance Assistant

Page 6

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

Report of the Trustees

For the year ended 31 October 2025

Plans for the future

Throughout the year, significant work has been undertaken to achieve absolute grip and clarity on the finances of the charity at operational and governance levels. The structural organisational deficit continues to reduce significantly and a new strategy and structure has been developed to by our new CEO Tricia Macfarlane, who joined HCPT in October 2024, with the full support and collaboration of the Board of Trustees.

We want to give our heartfelt thanks and appreciation to all who made the 2025 pilgrimage season so special. We are making extra special plans to celebrate our Platinum Jubilee year and to include our international partners in this, as we recognise the diversity of our mission which has inspired people all around the world to replicate what began in the UK in 1956. The theme of our 70[th] year is: “Together in Love”, taken from the prayer - The Secret of Mary. “Mary will bring us together in love.” This was a constant thought in Br. Michael’s prayer life and writings. In this Platinum Jubilee year of HCPT, it was felt that the theme needs to express what we are about as an organisation and our joy in being part of this special mission which has been changing lives for 70 years.

Pope Benedict XVI reminds us that we are ‘Made by love, for love’. It is in love that Mary invites us to Lourdes, it is in love that we volunteer, reach out to our special guests and it is in love that we spend time becoming a family in the time we spend together.

The Easter 2026 pilgrimage will offer six and seven day options to provide increasing flexibility for pilgrims and volunteers, which is in direct response to the feedback on our 5 day pilgrimage in 2025.

HCPT’s second Benefactors Mass in the UK took place in November 2025. At the event we remembered all those who support our pilgrimages to Lourdes, including the incredible people who leave a gift in their Will to HCPT. The event will become an annual occasion.

HCPT’S STRATEGIC PLAN

The Board, Executives, staff and volunteers continued to deliver important developments across our organisation and across our six strategic core goals. These achievements are critical to enable HCPT to protect, provide and grow our purpose and impact and deliver on our vision and mission as an organisation.

A huge thank you to everyone who went above and beyond to help these achievements to become a reality.

Core Goal A – Let people know who we are and what we do

Core Goal B – Enable more people to join us

Core Goal C – Strengthen and secure our spiritual foundation

Core Goal D – Provide the best possible care to our pilgrims

Core Goal E – Be the best we can be at what we do

Core Goal F – Protect HCPT for future pilgrims

Page 7

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

Report of the Trustees

For the year ended 31 October 2025

FINANCIAL REVIEW

The Statement of Financial Activities (SOFA) shows that HCPT has experienced a tough year financially and has been impacted by increased costs, while trying to keep fares as low as possible. Over the financial year our total funds decreased by £271,417 (2024: £832,774) to £4,347,553. Of this £443,777 (2024: £483,742) is in restricted funds.

The impact on the charity’s finances, affecting both income and expenditure, in the aftermath of the COVID-19 pandemic is still noticeable as the Trust continues the journey to return to normal operational levels. The decrease in total funds during the financial year can largely be attributed to the increased costs in the current inflationary environment not being fully passed on to our pilgrims. We have taken an updated approach to ensure full cost recovery across our mission and within our accountancy practices.

This has seen our organisational deficit continue to reduce significantly and we are working on new strategies to advance our mission to reach more people who wish to travel with us to Lourdes on pilgrimage and to increase our fundraising to in excess of £2m per year by 2028. Both of these initiatives will generate additional funds into the charity and we continue to use evidence-based practice around where we expend the financial resources of the charity.

Our groups and regions are required to raise funds to enable them to partake in HCPT activities and to support the disabled and disadvantaged children and adults who they invite to go to Lourdes. In a normal year ,the majority of the pilgrimage income is raised prior to Easter, with a much smaller amount relating to the later summer pilgrimages following on.

We are thankful that supporters have remembered us in their wills to the extent that £234,559 (2024: £736,447) of legacy income has been recognised in 2024, in accordance with the accounting requirements for charities. Where a distribution has not been received yet an amount is shown in the corresponding debtors figure.

Due to local and global economic factors, realised and unrealised gains were made by both the Rathbone and Ruffer investment portfolios in the year. The market value of the two portfolios increased by £154,033 over the year which compares to an increase of £148,303 during the previous year. The year-end valuation was £2,708,060. This includes capital withdrawal of £200,000 from the portfolio in order to support cash flow requirements. The gains on the investments reduced the overall losses for the year made by the charity.

FUNDRAISING

HCPT undertakes a variety of fundraising activity centrally and in support of local groups. The charity is registered with the Fundraising Regulator and adheres to the Code of Fundraising Practice. One member of the Board is a full member of the Institute of Fundraising. HCPT is registered with the Gambling Commission.

The charity has a base of donors who provide financial support through regular giving schemes, appeals and events. Legacy income makes a significant difference to HCPT’s operations therefore during the year we continued to acknowledge the generosity of the many people who leave HCPT a gift in their Will. In particular we remembered our legators and other HCPT supporters and volunteers at our first Benefactors’ Mass, which happened in Scotland in November. We have worked recently with one of the UK’s foremost legacy experts on our fundraising strategy in this area. Therefore, much further work promoting legacies will be undertaken in the future.

Our Urgent Appeal launched before Christmas 2024 and finished at Easter. Our most successful fundraising appeal ever, it raised £200,000.

Page 8

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

Report of the Trustees

For the year ended 31 October 2025

Our biggest fundraising and communications campaign kicked off in October 2025. Co-created by people from the HCPT community, including service users and their families, the “Make Everyday Miracles” campaign will supercharge our marketing and promotion, both centrally and within our pilgrimage groups: https://www.makeeverydaymiracles.org.uk

During the year we adopted a new and attractive contactless giving app, Give A Little, which will bolster our groups’ fundraising in this area.

Planning is also underway for fundraising during our 70[th] anniversary year. As well as Make Everyday Miracles and Give A Little, a group of volunteers is organising a sponsored walk in Lourdes, our first for several years, raising money for central funds. In addition, supporters will be invited to do a “virtual” walk/cycle/run/swim/wheel of e.g. 70km to raise money for central funds or the pilgrimage group of their choice. The first of these virtual challenges is Trust Chaplain Fr Damian Cassidy’s Big Prayer Walk, of 1,070 miles, the equivalent of him walking from his presbytery in Newcastle on Tyne to Lourdes. #thewalkingpriest

Local groups receive regular advice and guidance on fundraising good practice, delivered centrally. This is in order to achieve compliance with our fundraising promise and Fundraising Code of Practice, thereby securing and maintaining the reputation of the charity while treating donors fairly.

By registering with the Fundraising Regulator, HCPT adheres to the fundraising promise that outlines the commitment we make to our donors and the public. We ensure that our fundraising is legal, open, honest and respectful. This means that:

We never sell our supporters’ contact details
We commit to high standards
We respect contact preferences and are accountable
We have policies in place to protect vulnerable donors

HCPT’s fundraising activities are compliant with the Data Protection Act 2018 and the General Data Protection Regulations (GDPR). The charity uses mail, telecommunications, email, social media and advertising to engage with supporters, who are regularly asked to update their preferences. All information is stored securely. Consent is obtained where required and recorded. Supporters are in control of the information they share with us and are able to change the way they hear from HCPT at any time. HCPT does not use third party fundraising agencies and has received no complaints about fundraising activity in the year.

During the year no complaints were received with regard to the way charitably raised funds were used.

RESERVES POLICY

The reserves policy set by the Trustees requires that reserves be maintained at a level allowing our core activities to continue in the event of a period of unforeseen difficulty, and that a proportion be maintained in a readily realisable form such as cash held on deposit. The calculation of the required level of reserves is an integral part of our planning, budget and forecast cycle. It takes into account the risks associated with the income and expenditure of each stream of our charitable activities being different from that budgeted, the planned activity level and our forward commitments.

Page 9

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

Report of the Trustees

For the year ended 31 October 2025

The reserves policy is reviewed on an annual basis, bearing in mind our main commitments and the main risks to our income and expenditure, and our exposure to additional risks and their concomitant effects on our operations and the possible financial consequences. The level of reserves and the corporate risk register are kept under permanent review. The trustees feel it is appropriate to maintain the previously recommended level of £2,500,000, whilst this is an aspiration at this current time. This takes into consideration the unprecedented uncertainties which remain. The Trustees plan on undertaking a strategic review of the reserves policy in line with the transformation and change plans and refreshed strategic direction the organisation is moving towards.

This allows for:

a marked reduction in legacies, as the receipt of these has an inherent uncertainty,
an unexpected increase in costs associated with travel or potential uninsurable losses,
essential capital expenditure (Hosanna House, the Bartrès Villa, transport and IT),
planned investments in the development of HCPT in accordance with the Strategic Plan.

Unrestricted reserves comprise both designated and general funds. Free reserves are those general unrestricted and designated funds excluding those held as freehold property and those felt by the trustees not to be generally accessible, for example funds raised by, or designated for groups. Restricted reserves must be spent as specified by the donor. The reason for, and purpose of, our restricted and designated funds are set out in note (1) Accounting Policies.

Detailed analyses of the level of our reserves are set out in notes (12) and (13).

The overall figure represents the totality of funds held by HCPT across all entities, both centrally and at group/branch level. It therefore includes:

the Trust’s strategic reserve,
funds held on behalf of all HCPT’s (200+) groups/branches (which raise funds locally, but which are held centrally),
the working capital required for the day to day operation of HCPT,
a significant element, estimated at a minimum £100,000 per year, which is required for Hosanna House and the Bartrès Villa in accordance with a long term capital improvement and maintenance plan.

HCPT strives to ensure that the level of reserves held continues to match the level necessary to meet the needs of the Charity in the event of a period of unforeseen difficulty.

£1,101,025 (2024: £1,124,879) represents the value of the freehold property (NBV £830,753), and investment property (valued at £270,270) owned by HCPT, which could only be realised by disposing of these fixed assets. During the year £200,000 was transferred from designated funds for vehicle replacements to the general accumulated funds. In at least the medium term there remains a need to replace four of the five minibuses at Hosanna House.

At the year-end £3,611,635 (2024: £3,880,387) was held in designated funds. The total held in restricted funds is £443,777 (2024: £483,742).

Unrestricted and undesignated reserves increased by £37,300 (2024: decreased £356,903) over the year to £292,141 (2024: £254,841).

With the current level of free reserves (as defined above – general unrestricted funds plus designated funds, with the exception of freehold property and group sundry accounts) being £441,654 and therefore below the minimum as set out in the policy, the trustees are working to mitigate further losses to return this to the required levels.

Page 10

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

Report of the Trustees

For the year ended 31 October 2025

INVESTMENT POLICY

The investment policy of the Trustees is to preserve HCPT’s assets and make suitable investment of the funds that are not immediately required to meet HCPT’s short-term objectives. Cash to meet short, medium and long term needs is kept on interest-bearing deposits. Beyond this, an element of the charity’s funds that is not required in the short term has been placed with two investment managers, in funds with different risk profiles, in order to optimise its potential. The Board of Trustees, advised by the Finance and Audit Committee, and Investment Sub Committee, sets the overall performance criteria under which the Investment Managers (Ruffer and Rathbones) operate, within clearly defined ethical parameters drawn from the teachings of the Roman Catholic Church. The Investment Committee has historically met at least twice a year and monitors the current investments and reviews potential new ones. The investment managers are asked to present to the committee at least twice a year.

During the financial year, it was necessary to divest £200,000 from invested funds in order to support the operational business of the charity. The charity has created an investment pledge which recognises where we are in our journey of transformation, but aspires to be able to begin to replace divested funds by October 2028, with a repayment schedule to be agreed and reviewed by Trustees on an annual basis.

RISK MANAGEMENT

The Trustees review HCPT’s strategic risk register at every Board meeting, with Board committees reviewing detailed risks and mitigations at each committee meeting throughout the year. This is managed through HCPT’s Risk Register and Dashboard.

These risks cover several key areas: Operational, Financial and Commercial, Environmental and External, People, Compliance, Law and Regulation, and Governance.

At a group level, Group Leaders are trained and expected to risk assess the particular activities of their group, as well as prepare risk assessments for vulnerable individuals travelling within the group.

All identified risks are assessed for both likelihood of occurrence and potential impact on all aspects of our work, including financial and reputational damage. This information from Trustees and group leaders is then used to develop a risk management strategy for HCPT as a whole. The strategy includes monitoring and reviewing existing controls and introducing new controls where the trustees consider it to be necessary.

During the year, one serious incident was reported by us to the Charity Commission and Office of the Scottish Charity Regulator in line with our regulatory and governance commitments. A programme of learning and development has been developed and will be delivered in order to mitigate against future risk.

In terms of financial risk, a Finance and Audit Committee, whose members are either trustees or advisors, meets and reviews management accounts on a quarterly basis.

The principal risks currently facing the charity, and associated mitigation, are considered to be as follows.

Risk: Dependency on key suppliers and lack of supplier to meet key operational objectives.
Mitigations: A shrinkage in the air charter market has made the availability of airframes to operate charter services to Lourdes difficult to generate. Mitigation for this has been to identify means to make scheduled services accessible at some scale, both at points of departure (in the form of airport representatives who can ease passage through airports) and points of arrival (in the form of scalable accessible transport options). This is again being looked at for both Easter and Summer offerings for the 2025 season. The availability of

Page 11

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

Report of the Trustees

For the year ended 31 October 2025

overland options (coach in the short term and improved rail links to South West France in the longer term) can also be considered appropriate mitigation.

Risk: Employee wellbeing issues, primarily due to stress, workload and lack of morale.
Mitigations: In addition to the Employee Assistance Programme which was put in place during the COVID pandemic, proactive efforts have been taken to identify, resolve and improve our staff’s well-being, workload and support. We have also implemented a regular anonymous well-being survey and offered direct access to the Board to continue to rebalance any concerns raised.
Risk: A reduction in the utilisation of Hosanna House impacts on HCPT’s ability to recover fixed costs through pilgrimage fares as the number of bed nights sold reduces.
Mitigations: Concerted efforts to achieve leadership succession is key to ensuring the long term sustainability of pilgrimage groups. In parallel, Hosanna House is constantly promoted to new communities (in the UK and France) whose engagement might lead to increased pilgrimage numbers which in turn enables fixed costs to be shared across a broader pilgrim base.
Risk : Increased costs lead to increased fares with an associated lower number of pilgrims, which in turn leads to a financial model which is unsustainable in the medium to long term.
Mitigations: Initial mitigation is to stablise the organisation through utilisation of reserves, increased monitoring of cashflow and budgets alongside the development of new income generation approaches, in association with staff and volunteers, of a more cost-effective and organisationally efficient model.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

Established in 1956 as a charity, HCPT (Hosanna House and Children's Pilgrimage Trust) is a company limited by guarantee, incorporated on 8 February 1973. It was established under a memorandum of association which establishes its objects and powers and is governed under its articles of association. The memorandum and articles of association were updated in 1998, 2005, 2012 and 2015.

References and administrative information are set out on page 14, and form part of this report.

The Board has considered the advice given by the Charity Commission in the good governance guidelines to ensure that HCPT reflects these standards throughout the organisation and that these are implemented within all of our management.

The members of the Board of Trustees of HCPT are chosen on knowledge and experience of the Trust, together with the individual skills that they can bring to the Board to enable it to function as an effective body. They reflect the geographical spread of HCPT, ensuring that a variety of regions of the Trust are reflected in the membership.

On appointment, new Trustees are given key documents such as a copy of the constitution, latest accounts, and previous minutes, and are required to sign a consent form agreeing to their appointment.

The members of the Board of Trustees, who are also directors under the terms of the Companies Act, are set out on page 14. The members of the Board have no beneficial interest in the group or charity. Trustees are unpaid and details of Trustee expenses and any related party transactions are disclosed in note 16 to the accounts.

Page 12

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

Report of the Trustees

For the year ended 31 October 2025

Reappointments to the Board

There were no re-appointments in 2025

Resignations and Retirements from the Board in 2025

Emma Derby (resigned August 2025)

Appointments to the Board

Charlie O’Sullivan (Appointed June 2025) as Co-Vice Chair Diane Reid (Appointed June 2025) as Co-Vice Chair Fiona McCormack (Appointed September 2025) as Chair

The Board of Trustees currently meets four times per year and focuses on strategic matters. They are supported by an operational management team consisting of the Chief Executive and 17 other full and part time employees in the UK, and 4 full time employees in France, supported by a number of seasonal staff recruited each year when HCPT pilgrimages occur.

The remuneration of the key management personnel is set by the Human Resources and Remuneration Committee and reviewed annually, with reference to external benchmarking and the internal appraisals policy. The committee also approves the annual review of all other staff salaries.

Liability of Members

The company is limited by guarantee and has no share capital. Clause 11 of the Memorandum and Articles of Association provides that every member, as defined by Clause 14 of the Memorandum and Articles of Association, is liable to contribute a sum not exceeding £5 in the event of the company being wound up whilst he/she is a member or within one year of ceasing to be a member. At the year end, there were 10 members (2024: 10).

Page 13

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

Report of the Trustees

For the year ended 31 October 2025

Page 14

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

Report of the Trustees

For the year ended 31 October 2025

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees Chair Fiona McCormark (previously Emma Derby resigned August 2025) Rev. Damian Cassidy Helen Young, RN, Dip, BSc (Hons), PGCE, MEd Christina Kearney Dr Christopher O’Dowd-Booth Carl Pandole Diane Reid, BSc(Hons), MCIOF (Cert) Timothy Righton, BSc (Hons), ACA Charlie O’Sullivan Clare O’Brien BA (Hons), ACA Elizabeth Anne Rix (appointed 13 January 2026) Vice Presidents Lady Jane Lothian President Archbishop Leo Cushley Episcopal Liaison with the Bishops’ Bishop Thomas Williams Conference of England and Wales Key Management Personnel Chief Executive Tricia Macfarlane Interim Head of Finance Rhona Baker (resigned June 2025), Finance Business Partner, WBG Services LLP appointed June 2025 Head of Pilgrimages Philip Burns Head of Care Katie Caldwell Head of Education and Youth Andrew Clare Hosanna House Manager Bettina Herrault (resigned July 2025), Lorenzo Trancoso (appointed September 2025) Head of Fundraising & Communications George Overton Bankers NatWest, St Nicholas Centre, Sutton, Surrey, SM1 1NW Banque Populaire, 2 Rue de la Halle, 65100 Lourdes, France Auditors Magma Audit LLP, Magma House, 16 Davy Court, Rugby, CV23 0UZ Solicitors Tozers, Broadwalk House, Southernhay West, Exeter EX1 1UA Registered Charity Number 281074 & SCO43743 Company Registration Number 1095198 VAT Registration Number 853 7288 91 Registered Office HCPT, Oakfield Park, 32 Bilton Road, Rugby, CV22 7HQ

Page 15

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (Hosanna House and Children’s Pilgrimage Trust)

Report of the Trustees

For the year ended 31 October 2025

STATEMENT OF TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

Trustees’ Responsibilities

The Trustees who are also directors of the charitable company, are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the profit or loss of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

So far as each of the Trustees is aware at the time the report is approved:

there is no relevant audit information of which the company's auditors are unaware; and
the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

Auditors

Magma Audit LLP were re-appointed as the Charity’s auditors.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the Board of Trustees and signed on their behalf:

Fiona McCormark Chair of the Board of Trustees

03-Mar-26 | 3:16 PM GMT

Page 16

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF HCPT (Hosanna House and Children’s Pilgrimage Trust)

Opinion

We have audited the financial statements of HCPT (Hosanna House and Children’s Pilgrimage Trust) (the 'parent charitable company') for the year ended 31 October 2025 which comprise the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Charitable Company Balance Sheet, the Consolidated Statement of Cash and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the group's affairs as at 31 October 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustee’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Page 17

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF HCPT (Hosanna House and Children’s Pilgrimage Trust)

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and charitable sector, we identified the principal risks of noncompliance with laws and regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries and management bias in accounting estimates. Audit procedures performed included:

discussions with management including consideration of known or suspected instances of noncompliance with laws and regulation and fraud;
challenging assumptions made by management in their significant accounting estimates, in particular in relation to the investment portfolio, accrued legacy income, going concern and the judgements

Page 18

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF HCPT (Hosanna House and Children’s Pilgrimage Trust)

formed;

identifying and testing journal entries, in particular any journal entries posted with unusual account combinations, journal entries crediting cash and journal entries with specific defined descriptions.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Ryan Parkin (Senior Statutory Auditor) for and on behalf of Magma Audit LLP 16 Davy Court Castle Mound Way Rugby, CV23 0UZ Magma Audit LLP is part of the Dains Group 03-Mar-26 | 10:12 PM GMT Date: …………………………..

Page 19

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (incorporating income and expenditure account)

FOR THE YEAR ENDED 31 OCTOBER 2025

		Unrestricted	Designated	Restricted	Total Funds	Total Funds
		Funds	Funds	Funds	2025	2024
	Notes	£	£	£	£	£
INCOME FROM:
Donations, legacies and grants	2a	1,004,143	-	39,475	1,043,618	1,615,338
Activities for raising funds	2b	184,782	592,938	-	777,720	867,945
Investment income	2d	84,488	-	-	84,488	44,633
Charitable activities	2c	1,598,975	-	-	1,598,975	2,060,521
		----------------------	---------------------	-------------------	--------------------	--------------------
Total income		2,872,388	592,938	39,475	3,504,801	4,588,437
		----------------------	---------------------	-------------------	---------------------	---------------------
EXPENDITURE ON:
Raising funds
Fundraising trading		497,290	717,276	-	1,214,566	1,682,815
Charitable activities
Regular		2,715,685	-	-	2,715,685	3,830,033
		----------------------	--------------------	------------------	--------------------	--------------------
Total expenditure	3a	3,212,975	717,276	-	3,930,251	5,512,848
		----------------------	---------------------	------------------	--------------------	--------------------
Gains on investments		154,033	-	-	154,033	148,303
Losses on foreign exchange		-	-	-	-	(56,666)
		----------------------	---------------------	------------------	--------------------	--------------------
Net Expenditure		(186,554)	(124,338)	39,475	(271,417)	(832,774)
Transfers between funds	12	223,854	(144,414)	(79,440)	-	-
		--------------------	---------------------	-------------------	--------------------	--------------------
Net movement in funds for year		37,300	(268,752)	(39,965)	(271,417)	(832,774)
Funds brought forward	12	254,841	3,880,387	483,742	4,618,970	5,451,744
		----------------------	---------------------	-------------------	---------------------	---------------------
Funds carried forward	12	292,141	3,611,635	443,777	4,347,553	4,618,970
		==========	==========	=========	==========	==========

There have been no changes in operations during the year and all operations are continuing.

The notes on pages 22 to 44 form part of these accounts.

Full comparative figures for the year ended 31 October 2024 are shown in note 18.

Page 20

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

BALANCE SHEET

FOR THE YEAR ENDED 31 OCTOBER 2025

		The	Group	HCPT (Company)	HCPT (Company)
		2025	2024	2025	2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	5	995,807	1,069,239	875,760	911,518
Intangible assets	6	49,945	62,431	49,945	62,431
Investments	7	2,978,330	2,952,614	2,983,200	2,957,484
		-----------------------	-----------------------	---------------------	---------------------
		4,024,082	4,084,284	3,908,905	3,931,433
CURRENT ASSETS
Stock	8	6,001	7,828	-	-
Debtors and prepayments	9	291,018	326,518	300,213	316,111
Cash at bank and on deposit		443,370	501,487	347,940	444,649
		---------------------	---------------------	---------------------	---------------------
		740,389	835,833	648,153	760,760
CREDITORS: amounts falling due
within one year	10	(416,918)	(301,147)	(388,026)	(256,204)
		---------------------	---------------------	---------------------	---------------------
NET CURRENT ASSETS		323,471	534,686	260,127	504,556
		---------------------	---------------------	---------------------	---------------------
		4,347,553	4,618,970	4,169,032	4,435,989
		==========	==========	==========	==========
RESTRICTED FUNDS:	12	443,777	483,742	443,777	483,742
UNRESTRICTED FUNDS
General accumulated	12	292,141	254,841	113,620	71,860
Trustees designated	12	3,611,635	3,880,387	3,611,635	3,880,387
		---------------------	---------------------	---------------------	---------------------
		4,347,553	4,618,970	4,169,032	4,435,989
		==========	==========	==========	==========

03-Mar-26 | 3:16 PM GMT

The financial statements were approved and authorised for issue by the Board of Trustees on and were signed below on its behalf by:

Fiona McCormarck Chair of the Trustees Board

The notes on pages 21 to 44 form part of these accounts.

Page 21

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

CONSOLDATED STATEMENT OF CASH FLOW

FOR THE YEAR ENDED 31 OCTOBER 2025

	Note	2025	2024
		£	£
Cash flows from operating activities	A	(270,924)	(792,870)
		==========	==========
Cash flows from investing activities
Investment income		84,488	44,633
Purchase of tangible fixed assets		-	(4,178)
Purchase of intangible fixed assets		-	(62,431)
Proceeds from sale of investments		92,473	1,907,591
Purchase of investments		(164,154)	(1,429,337)
Cash withdrawn from investments		200,000	-
		-------------------	-------------------
Cash used in investing activities		212,807	456,278
		-------------------	-------------------
Change in cash and cash equivalents in the year	B	(58,117)	(336,592)
Cash and cash equivalents at the beginning of the year		501,487	838,079
		-------------------	-------------------
TOTAL CASH AND CASH EQUIVALENTS AT THE END OF
THE YEAR
		443,370	501,487
		==========	=========
		2025	2024
A		£	£
Net expenditure for the year		(271,417)	(832,774)
Add back depreciation and amortisation charge		85,806	68,260
Gain on investment		(154,033)	(148,303)
Exchange gains on overseas fixed assets held		(3,995)	25,295
Investment income		(84,488)	(44,633)
Loss on disposal of fixed assets		4,105
Decrease in stocks		1,827	3,042
Decrease in debtors		35,500	130,505
Increase in creditors		115,771	5,738
		-------------------	-------------------
Net cash provided by operating activities		(270,924)	(792,870)
		==========	=========

B. Analysis of changes in net cash

Cash in hand Total	Balance at 1 November 2024 501,487 501,487	Cash Flows (58,117) (58,117)	Balance at 31 October 2025 443,370 443,370

Page 22

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1. ACCOUNTING POLICIES

a)

General information

The Charity is a private company limited by guarantee, incorporated in England and Wales (company number: 01095198), a charity registered in England and Wales (charity number: 281074) and a charity registered in Scotland (charity number: SC043743). The Charity’s registered office address is: HCPT, Oakfield Park, 32 Bilton Road, Rugby, CV22 7HQ.

b)

Basis of preparation

The financial statements are prepared under the historical cost convention as modified to include the revaluation of investments. The format of the financial statements has been presented to comply with the Companies Act 2006 and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) (Second Edition, effective 1 January 2019) applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011. The Charity is a Public Benefit Entity as defined by FRS102.

c)

Basis of Consolidation

These financial statements consolidate the results, assets and liabilities of the Charity’s subsidiaries (HCPT (1980) Ltd, Hosanna France, SARL HCPT (1980) France) on a line by line basis. Uniform group accounting policies have been applied. The Charity’s own Statement of Financial Activities has not been presented, as permitted by section 408 of the Companies Act 2006. The Charity’s net movement in funds for the year as an individual entity was a deficit of £266,957 (2024: £809,177), and as a group was a deficit of £271,417 (2024: £832,774).

d)

Going concern

Following rigorous review and challenge by the Board, working closely with the Senior Leadership Team (SLT), the Trustees have prepared detailed financial forecasts covering a period of twelve months from the date of signing these accounts.

These forecasts demonstrate that the Charity has sufficient resources to continue operating and meet its obligations for at least that period. Accordingly, the Trustees are satisfied that it remains appropriate to prepare the accounts on a going concern basis.

This position is supported by a clear 3–5 year strategic plan built around three core pillars: growing the mission, strengthening fundraising for the central charity, and embedding improved financial rigour. Together, these priorities provide a structured framework for sustainability, improved performance, and robust Board oversight over the medium term.

The Trustees have therefore red financial forecasts for twelve months from the date of signing these accounts and these demonstrate that the Charity can continue as a going concern for at least that period.

e)

Investments

Cash held on short term deposit in furtherance of the charity’s activities is shown as Current Assets. Investments held for the long-term to generate income or capital growth are carried at fair value as fixed assets. Realised and unrealised gains are accounted for within the Statement of Financial Activities.

HCPT has an interest in the freeholds of certain properties. Where these are held for rental return or future capital gain, these are treated as investment properties. Such freeholds are deemed investment properties because they are held for the purpose of:

Ensuring continuing ground rent and management income
Realising potential capital appreciation.

Investment properties are shown at fair value. Any changes in fair value are recognised in the Statement of Financial Activities.

The villa in Bartrès, France owned by HCPT was last professional valued in 2020 with interim Trustee valuations.

Page 23

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Fixed assets

Fixed assets owned by HCPT are included in the accounts at cost less depreciation. Assets costing below £1,000 are expensed in the year of purchase. Depreciation is provided to write off the cost of fixed assets on a straight line basis, with a full year‘s worth of depreciation charged in the year of purchase, at the following annual rates:

Freehold buildings excluding land	2%
Computer equipment	20%
Wheelchairs	20%
Furniture and fittings	10%
Coaches	10%
Other motor vehicles	25% or 7 years
Intangible computer software	20%

Intangible assets owned by HCPT are included in the accounts at cost less amortisation. Amortisation is provided to write off the cost of the intangible asset on a straight line basis; with a full year’s worth of amortisation charged in the year when the asset is ready to use.

Fixed assets owned by the French entities, Association Hosanna France and SARL HCPT (1980) France are included in the accounts at cost less depreciation. Depreciation is provided to write off the cost of fixed assets on a straight line basis, with depreciation charged from the date of purchase, at the following annual rates:

Computer equipment	50%
Office equipment	3 years
Electrical equipment	20%
Motor vehicles	7 years
Medical beds	7 years
Furniture and fittings	10%

f) Foreign currency – Euro

Transactions in foreign currencies are recorded at the rate ruling at the date of transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange at the balance sheet date. All differences on monetary items are recognised in the Statement of Financial Activity in the period in which they arise. Where the gain or loss on a non-monetary item is recognised in other comprehensive income, the exchange component of this is also recognised within other comprehensive income.

Any resulting difference on translation is taken through the Statement of Financial Activities, with gains being shown in Other Incoming Resources and losses shown under Resources Expended.

g)

Income

All income is recognised in the Statement of Financial Activities when the conditions for receipt have been met and there is reasonable assurance of receipt. The following accounting policies are applied to income:

i. Income

Easter Child Sponsorship

Income from the regions is brought into account in the period in which it is received by HCPT except that Child Sponsorship received after 30 April is treated as relating to the following years’ pilgrimage unless confirmation is received in contrary to this.

Donations, Gifts and Legacies

Donations and gifts and any associated income tax reclaimable from HM Revenue and Customs are recognised on a receivable basis. Donations received for the general purposes of the Charity are credited to unrestricted funds. Donations subject to specific wishes of the donors are carried to relevant restricted funds.

Legacies are accounted for as they are received or, if before receipt, following confirmation of entitlements, the receipt is probable and value can be measured.

Page 24

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Donations and all other similar receipts are reported gross and the related fundraising costs are reported in costs of raising funds.

ii. Activities for raising funds Fundraising Activities

Activities for generating income, including any trading activity carried out by HCPT (1980) Limited and HCPT (1980) France SARL, are accounted for when the income is received or there is probable assurance of the receipt. No activity has been carried out by HCPT (1980) Limited during the year.

Investment Income

Investment income is accounted for in the period to which it relates and consists of income from bank deposits, and the investment portfolio.

iii. Income from charitable activities Income from charitable activities includes all other income directly related to the charitable objects of the company.

iv. Local groups Local groups raise money to pay for their helpers and sponsored children to travel to Lourdes. HCPT’s income figures are a consolidation of all local groups’ income and income received directly into central funds.

h) Expenditure

i. Costs of raising funds Included under costs of raising income is the fundraising expenditure in relation to staff members directly engaged in fundraising together with all associated support costs and other direct expenditure. The cost of fundraising and promotional activities incurred by the Groups and Regions is charged to the designated funds. The costs of goods sold by HCPT (1980) Limited and SARL HCPT (1980) France are included under cost of generated funds. ii. Charitable activities This expenditure includes all direct costs associated with the objects of the charity, together with all support costs which are directly connected with such charitable activities. Indirect support costs are allocated on an appropriate, reasonable, justifiable and consistent basis using various methods such as time spent, staff numbers involved, the relative size of the two main pilgrimages, floor space used. iii. Governance costs Governance costs includes all direct and support costs incurred in the general governance of the charity, including all costs associated with constitutional and statutory requirements. Governance costs are apportioned in line with the percentage time allocated for staff time.

iv. VAT

Any irrecoverable VAT is written off in the period in which it is incurred.

i)

Stock

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Stocks are recognised as an expense in the period in which the related revenue is recognised.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is reduced to its selling price less costs to complete and sell an impairment charge is recognised in the Statement of Financial Activities. Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the Statement of Financial Activities.

Page 25

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

j) Funds

Unrestricted Funds

i. General accumulated

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the charitable objectives. The general accumulated fund arises from donations, bequests and other income received or generated for charitable purposes and represents the net surplus made by HCPT during its operations to date.

Designated Funds

Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose.

The following funds have been designated by the Trustees:

ii. Future Easter Sponsorship

Income received for Child Sponsorship after 30th April which is treated as income available for the following year, except in cases where the group leader states it is for the current year.

iii. Freehold Property

This represents the net book value of Freehold Land and Buildings held by HCPT in France and recognises that such reserves are held on a long term basis. This includes the Villa held as an investment property.

iv. HH Window Fund Appeal

Income received from the appeal for new stained glass windows in the Chapel of Hosanna House were allocated to this fund and expenditure incurred to design, construct and install the windows was charged to this account. Surplus funds are used for further work in the Chapel.

v. HCPT Groups

Income received and expenditure incurred by individual HCPT Groups is credited or charged to this fund. This represents accumulated funds available for use by these groups in future years for charitable activities. The money in this fund will be expended when groups recommence preparation for future pilgrimages.

vi. Group Donations

Unusually large donations received by groups are held in this fund and released to them over a period of time.

vii. Vehicle Replacement

This was created in order to ensure that funds are available for the replacement of the vehicles in France when this is deemed necessary.

viii. St Jude’s Society (Cathcap)

This money was donated by a society which had previously been set up to benefit people from Cardiff and the surrounding area. The fund is used to support pilgrims from Wales and is expended whenever beneficiaries travel as part of groups from there.

Restricted Funds

Restricted funds comprise funds received for specific expenditure as specified by the donor.

ix. Wheelchairs and other Accessibility Equipment

Specific donations which are received by HCPT for the purchase of wheelchairs and other disability aids are credited to this fund and any expenditure on such equipment is charged to this fund.

x. Bartrès Villa

An appeal was established to raise funds for upgrading and maintaining the facilities of the freehold property owned in Bartrès. Specific donations which are received by HCPT are credited to this fund. Expenditure incurred on maintenance and upgrading the Villa is charged to this fund.

Page 26

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

xi. Hosanna House Appeal Fund

An appeal was established to raise funds for upgrading the facilities in the St Bernadette Wing of Hosanna House. Specific donations which are received by HCPT are credited to this fund.

xii. Building Development

A Building Development Fund has been established to provide for future building works at Hosanna House.

xiii. Anna’s Fund

This fund has been established in memory of Anna Sparke by her parents to be used at their discretion.

xiv. Bequests to HCPT Groups

This represents bequests received in the current and earlier years where the bequest has been left to a specific group or region for its charitable activity in accordance with the terms of the will.

xv. Ros’s Fund

This fund has been established from a donation to be used to support Group 536.

xvi. Group specific legacies

This fund has been established from a donation from Jennifer Chapman's estate to be used to support Groups 153 and 516.

k) Operating leases

Costs in respect of operating leases are charged to the Statement of Financial Activities on a straight line basis over the terms of the lease.

l) Staff costs and overhead expenses

Staff costs are allocated to activities on the basis of staff time spent. Overhead expenses are allocated to activities as they are incurred.

m) Significant judgments and sources estimation uncertainty

The group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

i. Carrying value of listed investments - The listed investments held by the group are sensitive to changes in fair value. A valuation is obtained from a qualified valuer for each investment with sufficient regularity to ensure that the valuation is not materially different from the fair value.
ii. Accrued legacy income - Accrued legacy income is subject to change throughout the year. The trustees continue to monitor each legacy to determine the expected recoverable amounts to ensure it is not materially different to that included within the financial statements.
iii. Useful economic lives of tangible assets - The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Page 27

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Financial instruments

The charitable group has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

i. Financial assets - Basic financial assets, including fixed assets held at valuation, trade and other debtors, cash and bank balances and investments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.
ii. Financial liabilities - Basic financial liabilities, including trade and other creditors and bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
iii. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
iv. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Employee benefits

Short term benefits

Short term benefits including holiday pay are recognised as an expense in the period in which the service is received.

Pensions

The charity operates a defined contribution pension scheme. Payments were made to an insurance company which is financially separate from the charity. The payments have been charged to the Statement of Financial Activities in the year in which they become payable. Differences between contributions payable in the year and contributions actually paid are shown either as other creditors or prepayments in the balance sheet.

2.	INCOME	2025	2024
		£	£
a)	Donations, Legacies and Grants
	Bequests and legacies	195,084	635,862
	Donations and similar	809,059	878,891
		----------------------	----------------------
		1,004,143	1,514,753
	Group Bequests and Specific Donations	39,475	100,585
		----------------------	----------------------
		1,043,618	1,615,338
		==========	==========
b)	Activities for Raising Funds
	Groups and Regional Activities	592,938	762,870
	Sales of HCPT (1980) Limited Group	26,404	31,545
	Fundraising income	158,378	73,530
		---------------------	---------------------
		777,720	867,945
		==========	==========

Page 28

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

c)	Charitable Activities	2025	2024
		£	£
	Fares from provisions of pilgrimage travel	1,598,975	2,060,521
		----------------------	----------------------
		1,598,975	2,060,521
		===========	===========
d)	Investment income
	Income from investments	79,382	36,283
	Interest receivable	5,106	8,350
		----------------------	----------------------
		84,488	44,633
		===========	===========

Included in group bequests is £nil (2024: £80,585) which is restricted.

3. EXPENDITURE

Direct costs are allocated specifically to the relevant charitable activity as they are incurred.

UK staff costs for both charitable and fundraising activities have been allocated on the basis of staff time involved. This has been estimated as a percentage of the total payroll costs as follows:

	2025	2024
	%	%
Charitable activities	54	65
Fundraising	29	18
Governance	17	17
	---------	---------
	100	100
	---------	---------

French staff costs are charged 100% to support costs of charitable activities in France.

Details of Employment and Staff Costs are shown in Note 4.

Support costs are allocated either directly to the charitable activity to which they relate or on a reasonable basis taking into account usage, time cost, floor space occupied or number of people employed.

	2025	2024
	£	£
Operating expenditure includes:
Depreciation of tangible fixed assets	73,320	68,260
Amortisation of intangible assets	12,486	-
Auditors’ remuneration – audit fee	18,500	17,200
Auditor’s remuneration – other services	3,525	1,500
Operating lease: Land and Buildings	27,000	27,000
Office equipment rental	575	575
	========	========
	135,406	114,535

Page 29

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Analysis of Total Expenditure
	Staff	Support	Other direct	Total
	Costs	Costs	Costs	2025
	£	£	£	£
Unrestricted funds
Cost of raising funds	199,997	150,541	146,752	497,290
Charitable activities
Easter Pilgrimage	274,913	279,179	1,163,202	1,717,294
Summer Pilgrimages	106,278	107,927	784,186	998,391
	------------------	-------------------	---------------------	---------------------
Total unrestricted expenditure	581,188	537,647	2,094,140	3,212,975
	=========	=========	==========	==========
Designated funds
Cost of raising funds	-	-	239,092	239,092
Charitable Activities	-	-	478,184	478,184
	------------------	-------------------	---------------------	---------------------
Total designated expenditure	-	-	717,276	717,276
	=========	=========	==========	==========
	----------------	----------------	---------------	------------------
Total restricted expenditure	-	-	-	-
	=========	=========	==========	==========
	-------------------	-------------------	---------------------	---------------------
Total expenditure 2025	581,188	537,647	2,811,416	3,930,251
	=========	=========	==========	==========
Previous year comparison
	Staff	Support	Other direct	Total
	Costs	Costs	Costs	2024
	£	£	£	£
Unrestricted funds
Cost of raising funds	241,645	130,113	121,210	492,968
Charitable activities
Easter Pilgrimage	359,825	301,861	1,784,937	2,446,623
Summer Pilgrimages	108,168	88,477	1,186,765	1,383,410
	------------------	-------------------	---------------------	---------------------
Total unrestricted expenditure	709,638	520,451	3,092,912	4,323,001
	=========	=========	==========	==========
Designated funds
Cost of raising funds	-	-	342,259	342,259
Charitable Activities	-	-	847,588	847,588
	-------------------	------------------	---------------------	---------------------
Total designated expenditure	-	-	1,189,847	1,189,847
	=========	=========	==========	==========
	----------------	----------------	---------------	------------------
Total restricted expenditure	-	-	-	-
	========	=======	========	========
Total expenditure 2024	709,638	520,451	4,282,759	5,512,848
	========	========	==========	=========

Page 30

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

3b.	Analysis of support costs		Raising	Easter	Summer	Total
			Funds	Pilgrimage	Pilgrimages	2025
			£	£	£	£
	Premises	,	19,779	36,681	14,180	70,640
	Safeguarding		3,846	7,133	2,757	13,736
	Audit and legal		13,300	24,664	9,535	47,499
	Communication & IT		18,143	33,644	13,007	64,794
	General administration		9,366	17,370	6,716	33,452
	Financial costs		38,350	71,121	27,494	136,965
	Unrecovered VAT		10,533	19,533	7,551	37,617
	Governance		37,224	69,033	26,687	132,944
			----------------	----------------	----------------	------------------
			150,541	279,179	107,927	537,647
			========	========	========	=========
	Previous year comparison		Raising	Easter	Summer	Total
			Funds	Pilgrimage	Pilgrimages	2024
			£	£	£	£
	Premises		14,094	32,697	9,584	56,375
	Safeguarding		8,150	18,908	5,542	32,600
	Audit and legal		5,286	12,264	3,595	21,145
	Communication & IT		18,691	43,362	12,710	74,763
	General administration		32,952	76,449	22,407	131,808
	Financial costs		9,621	22,321	6,542	38,484
	Unrecovered VAT		12,317	28,575	8,375	49,267
	Governance		29,002	67,285	19,722	116,009
			----------------	----------------	----------------	------------------
			130,113	301,861	88,477	520,451
			========	========	========	=========
4.	EMPLOYMENT				2025	2024
					Number	Number
	The average number employed in the United
	Kingdom during the year was 17 (2024: 18) and by function:
	Charitable				9	12
	Fundraising				5	3
	Administration				3	3
					------------	------------
					17	18
					======	======
					£	£
	Staff costs in the UK include:
	Salaries				603,099	688,833
	Social security costs				64,906	66,524
	Other pension costs				30,183	25,734
					-------------------	-------------------
					698,188	781,091
					=========	========

Page 31

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

£581,188 (2024: £709,638) of these staff costs are allocated to charitable activities and the cost of raising funds. £117,000 (2024: £71,453) is included within support costs.

In addition, in 2025 there were 5 full time employees and 4 seasonal employees in France (2024: 3 & 8) incurring total payroll expenditure, excluding government subsidies, in the year of £342,251 (2024: £349,323).

	2025	2024
	£	£
Hosanna France
Salaries	255,286	257,254
Social security costs	82,629	88,003
	------------------	-----------------
	337,915	345,257
	=========	========
HCPT (1980) France SARL
Salaries	2,972	2,778
Social security costs	1,364	1,288
	------------------	-----------------
	4,336	4,066
	=========	========

One employee paid by the Trust had emoluments paid between £80,000 - £90,000 (2024: One employee: 80,000 - £90,000). No employee paid by the Trust had emoluments paid between £70,000 - £80,000 (2024: One employee: £70,000 - £80,000). One employee paid by the Trust had emoluments paid between £60,000 - £70,000 (2024: No employee £60,000 - £70,000). Pension contributions totalling £6,965 (2024: £5,900) were made to the scheme on behalf of employees whose emoluments exceeded £60,000. The trustees deem key management to include the Senior Management Team. Key management personnel remuneration for 2025 was £437,159 (2024: £458,983).

No directors of the group companies were paid (2024: none). None of the Trustees received any remuneration for their services (2024: none). 7 Trustees (2024: 13 Trustees and 1 advisor to the Board) claimed for travel, subsistence and accommodation expenses incurred whilst representing the charity at official functions and in order to attend Board and Committee meetings.

oard and Committee meetings.
	2025	2024
	£	£
Trustees’ and advisors’ expenses	5,145	8,795
	========	========

Page 32

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

TANGIBLE FIXED ASSETS	Group	Group	HCPT	HCPT
	2025	2024	2025	2024
	£	£	£	£
In France (note 5a)
Freehold land and buildings	830,755	854,609	830,753	854,609
Furniture and fittings	121,172	156,641	1,811	2,818
Motor vehicles	42,818	55,697	42,819	53,524
Computer Equipment	684	1,725	-	-
	-------------------	------------------	-------------------	-----------------
	995,429	1,068,672	875,383	910,951
In the UK (note 5b)
Computer equipment	-	2	-	2
Furniture and fittings	378	565	378	565
	-----------------	-----------------	-------------------	-----------------
	378	567	378	567
	-----------------	-----------------	------------------	-----------------
	995,807	1,069,239	875,760	911,518
	==========	==========	==========	==========

The Trustees consider there is no material difference between the carrying value and market value of land and buildings shown above.

In France (group)	Freehold
	Land &	Computer	Furniture		Motor
	Buildings	Equipment	& Fittings	Wheelchairs	Vehicles	Total
	£	£	£	£	£	£
Cost
At 31 October 2024	1,606,365	24,912	584,475	30,199	377,741	2,623,692
Disposals	-	-	(4,105)	-	-	(4,105)
Exchange losses on fixed	-	291	11,562	-	670	12,523
assets held
	-------------------	--------------	----------------	---------------	---------------	-------------------
At 31 October 2025	1,606,365	25,203	591,932	30,199	378,411	2,632,110
	------------------	-------------	----------------	---------------	---------------	-------------------
Depreciation
At 31 October 2024	751,756	23,187	427,834	30,199	322,044	1,555,020
Charge for the year	23,854	1,082	35,261	-	12,934	73,131
Exchange losses on	-	250	7,665	-	615	8,530
depreciation charge
	-----------------	-------------	-----------------	----------------	----------------	------------------
At 31 October 2025	775,610	24,519	470,760	30,199	335,593	1,636,681
	-----------------	-------------	-----------------	----------------	----------------	-------------------
Net Book Value
At 31 October 2025	830,755	684	121,172	-	42,818	995,429
	=========	========	=========	========	========	==========
At 31 October 2024	854,609	1,725	156,641	-	55,697	1,068,672
	=========	========	=========	========	=========	==========

Page 33

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

5.	TANGIBLE FIXED ASSETS (continued)			Furniture
			Computer	&
b)	In the UK (group)		Equipment	Equipment	Total
			£	£	£
	Cost
	At 31 October 2024		35,588	98,064	133,652
			---------------	--------------	----------------
	At 31 October 2025		35,588	98,064	133,652
			----------------	--------------	------------------
	Depreciation
	At 31 October 2024		35,586	97,499	133,085
	Charge for the year		2	187	189
			----------------	--------------	-----------------
	At 31 October 2025		35,588	97,686	133,274
			----------------	--------------	------------------
	Net Book Value
	At 31 October 2025		-	378	378
			========	========	=========
	At 31 October 2024		2	565	567
			========	========	=========
6.	INTANGIBLE ASSETS	Group	Group	HCPT	HCPT
		2025	2024	2025	2024
		£	£	£	£
	Cost
	At 31 October 2024	62,431	-	62,431	-
	Additions	-	62,431	-	62,431
		--------------------	--------------------	--------------------	--------------------
	Cost at 31 October 2025	62,431	62,431	62,431	62,431
		==========	==========	==========	==========
	Amortisation
	At 31 October 2024	-	-	-	-
	Charge for the year	12,486	-	12,486	-
		--------------------	--------------------	--------------------	--------------------
	At 31 October 2025	12,486	-	12,486	-
		==========	==========	==========	==========
	Net Book Value
		--------------------	--------------------	--------------------	--------------------
	At 31 October 2025	49,945	62,431	49,945	62,431
		==========	==========	==========	==========

Page 34

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

INVESTMENTS	Group	Group	HCPT	HCPT
	2025	2024	2025	2024
	£	£	£	£
Investment in subsidiary
Cost at 1 November 2024	-	-	4,870	4,870
	--------------------	--------------------	--------------------	--------------------
Cost at 31 October 2025	-	-	4,870	4,870
	==========	==========	==========	==========
Investment property
Valuationat 1 November 2024	270,270	270,270	270,270	270,270
	--------------------	--------------------	--------------------	--------------------
Valuation at 31 October 2025	270,270	270,270	270,270	270,270
	==========	==========	==========	==========
Listed investments at market value
Market value at 1 November 2024	2,682,344	3,012,295	2,682,344	3,012,295
Additions and movement in cash	(35,844)	1,429,337	(35,844)	1,429,337
Disposals	(92,473)	(1,907,591)	(92,473)	(1,907,591)
Net unrealised/realised gains	154,033	148,303	154,033	148,303
	--------------------	--------------------	--------------------	--------------------
Market value at 31 October 2025	2,708,060	2,682,344	2,708,060	2,682,344
	==========	==========	==========	==========
Listed investments	2,698,845	2,677,737	2,698,845	2,677,737
Cash awaiting investments	9,215	4,607	9,215	4,607
Investment in subsidiary	-	-	4,870	4,870
Investment property	270,270	270,270	270,270	270,270
	--------------------	--------------------	--------------------	--------------------
Market value at 31 October 2025	2,978,330	2,952,614	2,983,200	2,957,484
	==========	==========	==========	==========

Page 35

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

7. INVESTMENT (HCPT ONLY) (continued)

HCPT (1980) Limited

HCPT holds 100% of the issued share capital of HCPT (1980) Limited, a company incorporated in England. The investment is included at cost of £4,870 (2024: £4,870).

HCPT (1980) Limited holds 100% of the issued share capital of HCPT (1980) France SARL, a company incorporated in France.

Relevant financial information regarding HCPT (1980) Limited and its subsidiary HCPT (1980) France SARL is as follows:

CONSOLIDATED PROFIT AND LOSS ACCOUNT	2025	2024
HCPT (1980) Ltd Group	£	£
TURNOVER	26,404	31,545
Cost of sales	(10,099)	(11,760)
	-----------------	-----------------
GROSS PROFIT	16,305	19,785
Administration expenses	(15,694)	(17,095)
	-----------------	-----------------
PROFIT/(LOSS) ON ORDINARY ACTIVITIES BEFORE TAXATION	611	2,690
Taxation	-	-
	-----------------	-----------------
PROFIT/(LOSS) ON ORDINARY ACTIVITIES AFTER TAXATION	611	2,690
Balance brought forward at 1 November 2024	2,973	283
	----------------	----------------
Balance carried forward at 31 October 2025	3,584	2,973
	========	========

The results of HCPT (1980) Limited have been consolidated on the basis of the net profit after transfers to HCPT (Hosanna House and Children’s Pilgrimage Trust).

HCPT (1980) Limited has not traded during the year.

CONSOLIDATED BALANCE SHEET	2025	2024
	£	£
Fixed assets	716	-
Current assets	36,889	47,925
Creditors falling due within one year	(28,261)	(39,407)
	---------------	---------------
	9,344	8,518
	=======	=======

Page 36

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

7. INVESTMENT (HCPT ONLY) (continued)

Represented by:	2025	2024
	£	£
Paid up share capital	4,870	4,870
Reserves	8,093	5,189
Profit and loss account	611	2,689
	-----------------	-----------------
	13,574	12,748
	========	=========

Hosanna France

The entity Hosanna France was registered in France on the 1st July 2012 to ensure compliance for our French operations. The entity is wholly owned by HCPT (Hosanna House and Children’s Pilgrimage Trust) and was established to enable HCPT to provide accommodation for our summer pilgrims. Hosanna France also provides services to HCPT groups during the Easter pilgrimage.

The relevant financial information for Hosanna France is as follows:

PROFIT AND LOSS ACCOUNT


PROFIT AND LOSS ACCOUNT	2025	2024
	£	£
Income	599,146	656,962
Expenditure	(604,433)	(683,107)
	--------------------	--------------------
Net income	(5,287)	(26,145)
Funds brought forward	179,337	205,482
	-------------------	-------------------
Balance carried forward at 31 October	174,050	179,337
	=========	=========
BALANCE SHEET
Fixed assets	119,331	157,721
Debtors and prepayments	32,676	75,731
Cash at bank and on deposit	65,867	17,887
Creditors: amounts falling due within one year	(43,824)	(72,002)
	-----------------	-----------------
NET CURRENT ASSETS	174,050	179,337
	========	========
Represented by:
Profit and loss account	174,050	179,337
	========	========

8. STOCK The Group HCPT 2025 2024 2025 2024 £ £ £ £ Goods for resale 6,001 7,828 - - ======== ======== ======== ========

Page 37

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

DEBTORS AND PREPAYMENTS	The	Group	HCPT
	2025	2024	2025	2024
	£	£	£	£
Legacy debtors	122,649	280,276	122,046	280,277
Trade debtors	723	1,775	-	630
Taxation and social security	5,074	-	24,267	-
Prepayments	162,572	44,467	153,900	35,204
	-------------------	-------------------	-----------------	-----------------
	291,018	326,518	300,213	316,111
	==========	=========	=========	=========

CREDITORS: falling due within one	The Group		HCPT
Year	2025	2024	2025	2024
	£	£	£	£
Trade creditors	4,859	36,072	1,804	24,320
Deferred income	325,377	67,491	325,377	67,491
Accruals	50,902	112,663	43,027	136,831
Taxation and social security	-	50,505	-	15,962
Loan	11,600	11,600	11,600	11,600
Other creditors	24,180	22,816	4,936	-
Amounts owed to group undertakings	-	-	1,282	-
	-----------------	---------------	---------------	----------------
	416,918	301,147	388,026	256,204
	========	========	========	========

The loan is interest free and repayable upon demand.

DEFERRED INCOME	Group	HCPT
	£	£
Balance as at 1 November 2024	67,491	67,491
Amounts released to income or transferred to group	(67,491)	(67,491)
funds
Amount deferred in the period	325,377	325,377
	----------------	---------------
Balance as at 31 October 2025	325,377	325,377
	========	========

Deferred income is made up of payments received in advance for pilgrimages and fundraising events due to take place during the next financial year.

Page 38

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

12. STATEMENT OF FUNDS (GROUP)

STATEMENT OF FUNDS (GROUP)
	Balance				Balance
	1 November			Transfers	31 October
	Balance 1	Income	Expenditure	and gains	Balance 31
	November				October
	2024				2025
	£	£	£	£	£
General Accumulated Fund	254,841	2,872,388	(3,212,975)	377,887	292,141
	==========	=========	=========	========	==========
Designated funds
Future Easter Sponsorship	47,370	-	-	(42,670)	4,700
Freehold property	1,124,879	-	-	(23,854)	1,101,025
HH Window Fund	6,313	-	-	-	6,313
HCPT Groups	2,332,325	592,938	(717,276)	153,110	2,361,097
Group Donations	40,900	-	-	(11,200)	29,700
Vehicle Replacement	200,000	-	-	(200,000)	-
St Jude’s Society	128,600	-	-	(19,800)	108,800
	--------------------	------------------	------------------	------------------	--------------------
Total Designated Funds	3,880,387	592,938	(717,276)	(144,414)	3,611,635
Restricted Funds
Accessibility Equipment	27,911	-	-	-	27,911
Bartrès Villa	12,258	-	-	-	12,258
Hosanna House Appeal Fund	5,425	-	-	-	5,425
Building Development	45,332	-	-	-	45,332
Ros’ Fund	29,000	-	-	(10,000)	19,000
Anna’s Fund	4,440	-	-	(4,440)	-
Specific Bequests
Group 45	10,000	-	-	(3,000)	7,000
Group 139	29,500	-	-	(3,000)	26,500
Group 151	2,000	-	-	(2,000)	-
Group 154	19,500	-	-	(3,000)	16,500
Group 540	19,695	-	-	(3,000)	16,695
Group 530	97,000	-	-	(3,000)	94,000
Hardship Fund	3,000	-	-	-	3,000
Eugene Peter bequest	140,000	-	-	(33,000)	107,000
Dorothy Kindline bequest	38,681	-	-	-	38,681
D Wagg – Group 148	-	5,740	-	(3,000)	2,740
C Chapman – Group 516	-	4,368	-	(3,000)	1,368
C Chapman – Group 153	-	4,368	-	(3,000)	1,368
Peter Carroll	-	5,000	-	(3,000)	2,000
Winifred Connor	-	20,000	-	(3,000)	17,000
	--------------------	--------------------	-----------------	-----------------	--------------------
Total restricted funds	483,742	39,475	-	(79,440)	443,777
	==========	==========	=========	========	==========
TOTAL FUNDS	4,618,970	3,504,801	(3,930,251)	154,033	4,347,553
	==========	==========	==========	========	==========

Page 39

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Previous year comparison	Balance				Balance
(Group)	1 November			Transfers	31 October
	2023	Income	Expenditure	and gains	2024
	£	£	£	£	£
General Accumulated Fund	610,934	3,724,982	(4,323,001)	241,926	254,841
	===========	===========	===========	===========	==========
Designated funds
Future Easter Sponsorship	147,498	-	(100,128)	-	47,370
Freehold property	1,148,733	-	-	(23,854)	1,124,879
HH Window Fund	6,313	-	-	-	6,313
HCPT Groups	2,842,505	762,870	(1,089,719)	(183,331)	2,332,325
Group Donations	32,900	20,000	-	(12,000)	40,900
Vehicle Replacement	200,000	-	-	-	200,000
St Jude’s Society	142,800	-	-	(14,200)	128,600
	--------------------	------------------	------------------	------------------	--------------------
Total Designated Funds	4,520,749	782,870	(1,189,847)	(233,385)	3,880,387
	==========	==========	==========	=========	==========
Restricted Funds
Accessibility Equipment	27,911	-	-	-	27,911
Bartrès Villa	12,258	-	-	-	12,258
Hosanna House Appeal	5,425	-	-	-	5,425
Fund
Building Development	45,332	-	-	-	45,332
Ros’ Fund	32,000	-	-	(3,000)	29,000
Anna’s Fund	4,440	-	-	-	4,440
Specific Bequests
Group 45	10,000	-	-	-	10,000
Group 139	32,500	-	-	(3,000)	29,500
Group 151	5,000	-	-	(3,000)	2,000
Group 154	22,500	-	-	(3,000)	19,500
Group 540	19,695	-	-	-	19,695
Group 530	100,000	-	-	(3,000)	97,000
Hardship Fund	3,000	-	-	-	3,000
Eugene Peter bequest	-	41,904	-	98,096	140,000
Dorothy Kindline bequest	-	38,681	-	-	38,681
	--------------------	--------------------	-----------------	-----------------	--------------------
Total restricted funds	320,061	80,585	-	83,096	483,742
	==========	==========	=========	========	==========
TOTAL FUNDS	5,451,744	4,588,437	(5,512,848)	91,637	4,618,970
	==========	==========	==========	========	==========

Page 40

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

STATEMENT OF	Balance				Balance
FUNDS (COMPANY)
	1			Transfers	31 October
	November	Income	Expenditure	and Gains	2025
	2024	£	£	£	£
	£
General Accumulated Fund	71,860	2,650,520	(2,986,647)	377,887	113,620
	==========	=========	=========	========	==========
Designated Funds
Future Easter Sponsorship	47,370	-	-	(42,670)	4,700
Freehold property	1,124,879	-	-	(23,854)	1,101,025
HH Window Fund	6,313	-	-	-	6,313
HCPT Groups	2,332,325	592,938	(717,276)	153,110	2,361,097
Group Donations	20,900	-	-	(11,200)	9,700
Vehicle Replacement	200,000	-	-	(200,000)	-
Manchester Region Fund	20,000	-	-	-	20,000
St Jude’s Society	128,600	-	-	(19,800)	108,800
	--------------------	------------------	------------------	------------------	--------------------
Total Designated Funds	3,880,387	592,938	(717,276)	(144,414)	3,611,635
Restricted Funds
Accessibility Equipment	27,911	-	-	-	27,911
Bartrès Villa	12,258	-	-	-	12,258
Hosanna House Appeal	5,425	-	-	-	5,425
Fund
Building Development	45,332	-	-	-	45,332
Ros’ Fund	29,000	-	-	(10,000)	19,000
Anna’s Fund	4,440	-	-	(4,440)	-
Specific Bequests
Group 45	10,000	-	-	(3,000)	7,000
Group 139	29,500	-	-	(3,000)	26,500
Group 151	2,000	-	-	(2,000)	-
Group 154	19,500	-	-	(3,000)	16,500
Group 540	19,695	-	-	(3,000)	16,695
Group 530	97,000	-	-	(3,000)	94,000
Hardship Fund	3,000	-	-	-	3,000
Eugene Peter bequest	140,000	-	-	(33,000)	107,000
Dorothy Kindline bequest	38,681	-	-	-	38,681
D Wagg – Group 148	-	5,740	-	(3,000)	2,740
C Chapman – Group 516	-	4,368	-	(3,000)	1,368
C Chapman – Group 153	-	4,368	-	(3,000)	1,368
Peter Carroll	-	5,000	-	(3,000)	2,000
Winifred Connor	-	20,000	-	(3,000)	17,000
	--------------------	--------------------	-----------------	-----------------	--------------------
Total restricted funds	483,742	39,475	-	(79,440)	443,777
	==========	==========	=========	========	==========
	4,435,989	3,282,933	(3,703,923)	154,033	4,169,032
	==========	==========	==========	========	==========

Page 41

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Previous year comparison	Balance				Balance
(Company)
	1 November			Transfers	31 October
	2023	Income	Expenditure	And Gains	2024
	£	£	£	£	£
General Accumulated Fund	404,356	3,538,407	(4,113,632)	242,729	71,860
	==========	=========	=========	========	==========
Designated Funds
Future Easter	147,498	-	(100,128)	-	47,370
Freehold property	1,148,733	-	-	(23,854)	1,124,879
HH Window Fund	6,313	-	-	-	6,313
HCPT Groups	2,842,505	762,870	(1,089,719)	(183,331)	2,332,325
Group Donations	32,900	-	-	(12,000)	20,900
Vehicle Replacement	200,000	-	-	-	200,000
Manchester Region Fund	-	20,000	-	-	20,000
St Jude’s Society	142,800	-	-	(14,200)	128,600
	--------------------	------------------	------------------	------------------	--------------------
Total Designated Funds	4,520,749	782,870	(1,189,847)	(233,385)	3,880,387
Restricted Funds
Accessibility Equipment	27,911	-	-	-	27,911
Bartres Villa	12,258	-	-	-	12,258
Hosanna House Appeal	5,425	-	-	-	5,425
Fund
Building Development	45,332	-	-	-	45,332
Ros’ Fund	32,000	-	-	(3,000)	29,000
Anna’s Fund	4,440	-	-	-	4,440
Specific Bequests
Group 45	10,000	-	-	-	10,000
Group 139	32,500	-	-	(3,000)	29,500
Group 151	5,000	-	-	(3,000)	2,000
Group 154	22,500	-	-	(3,000)	19,500
Group 540	19,695	-	-	-	19,695
Group 530	100,000			(3,000)	97,000
Hardship Fund	3,000	-	-	-	3,000
Eugene Peter bequest	-	41,904	-	98,096	140,000
Dorothy Kindline bequest	-	38,681	-	-	38,681
	--------------------	--------------------	-----------------	-----------------	--------------------
	320,061	80,585	-	83,096	483,742
	==========	==========	=========	========	==========
	5,245,166	4,401,862	(5,303,479)	92,440	4,435,989
	==========	==========	==========	========	==========

Page 42

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

13.	ANALYSIS OF NET ASSETS	Unrestricted	Designated	Restricted	Total
	BETWEEN FUNDS	£	£	£	£
	Tangible assets	165,052	830,755	-	995,807
	Intangible assets	49,945	-	-	49,945
	Investments	346,963	2,631,367	-	2,978,330
	Current assets	147,100	149,513	443,777	740,390
	Current liabilities	(416,918)	-	-	(416,918)
		--------------------	--------------------	-------------------	---------------------
		292,141	3,611,635	443,777	4,347,553
		==========	==========	=========	===========
	Previous year comparison
	ANALYSIS OF NET ASSETS	Unrestricted	Designated	Restricted	Total
	BETWEEN FUNDS	£	£	£	£
	Tangible assets	214,630	854,609	-	1,069,239
	Intangible assets	62,431	-	-	62,431
	Investments	350,019	2,602,595	-	2,952,614
	Current assets	(71,092)	423,183	483,742	835,833
	Current liabilities	(301,147)	-	-	(301,147)
		--------------------	--------------------	-------------------	---------------------
		254,841	3,880,387	483,742	4,618,970
		==========	==========	=========	===========
14.	FORWARD COMMITMENTS			2025	2024
				£	£
	The total of future minimum lease payments under non-cancellable operating
	leases for each of the following periods:
	Land and buildings: Not later than one year			27,000	27,000
	Land and buildings: Later than one year and	not later than five years		45,000	72,000
	Other plant and machinery: Not later than one year			575	575
	Other plant and machinery: Later than one year and not later than five years			670	1,245

15. CAPITAL COMMITMENTS

There were no capital commitments as at 31[st] October 2025.

16. RELATED PARTY TRANSACTIONS

Seven Trustees made donations totalling £4,902 (2024 : Seven Trustees made donations totalling £2,568).

Transactions with Hosanna France, HCPT (1980) Limited and HCPT (1980) France SARL are not disclosed as exemption has been taken under Financial Reporting Standard 102 for wholly owned subsidiaries.

There were no related party balances outstanding at 31[st] October 2025 (2024: none).

Page 43

Docusign Envelope ID: C61BB4F1-2D83-4B96-9AC1-8DE16009DBAB

HCPT (HOSANNA HOUSE AND CHILDREN’S PILGRIMAGE TRUST) Company number: 1095198

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

17. TAXATION

The company is a registered charity and as such is exempt from taxation on its income so long as it is applied for charitable purposes.

18. COMPARATIVE 2024

		Unrestricted	Designated	Restricted	Total Funds
		Funds	Funds	Funds	2024
	Notes	£		£	£
INCOME FROM:
Donations, legacies and grants	2a	1,514,753	20,000	80,585	1,615,338
Activities for raising funds	2b	105,075	762,870	-	867,945
Investment income	2d	44,633	-	-	44,633
Charitable activities	2c	2,060,521	-	-	2,060,521
		----------------------	---------------------	-------------------	--------------------
Total income		3,724,982	782,870	80,585	4,588,437
		----------------------	---------------------	------------------	---------------------
EXPENDITURE ON:
Raising funds
Fundraising trading		492,968	1,189,847	-	1,682,815
Charitable activities
Regular		3,830,033	-	-	3,830,033
		----------------------	--------------------	------------------	--------------------
Total expenditure	3a	4,323,001	1,189,847	-	5,512,848
		----------------------	---------------------	------------------	--------------------
Net gains on investments		148,303	-	-	148,303
Gains/(losses) on foreign exchange		(56,666)	-	-	(56,666)
		----------------------	---------------------	------------------	--------------------
Net (expenditure)/income		(506,382)	(406,977)	80,585	(832,774)
Transfers between funds	11	150,289	(233,385)	83,096	-
		--------------------	---------------------	-------------------	--------------------
Net movement in funds for year		(356,093)	(640,362)	163,681	(832,774)
Funds brought forward	11	610,934	4,520,749	320,061	5,451,744
		----------------------	---------------------	-------------------	---------------------
Funds carried forward	11	254,841	3,880,387	483,742	4,618,970
		==========	==========	=========	==========

Page 44