The trustees present their annual report and financial statements for the year ended 31 December 2024.
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
St. Joseph’s Society for Foreign Missions was founded in 1866 by Cardinal Herbert Vaughan at Mill Hill in London. The Society is an “international fellowship of Missionaries”, dedicated to the work of evangelisation, to the building up of young Churches, and to the assisting of Churches in special need outside the home regions. Members of the Society are expected to leave their own country and culture and to be involved in pioneering areas of evangelisation. In December 2006 the Society’s Generalate moved from Mill Hill to Maidenhead following the sale of St. Joseph’s College in Mill Hill which traditionally had been the principal training centre of the Society. Because of its historical foundation the Society and its members are known as the Mill Hill Missionaries.
The Society is organised into three Missions: the Europe and North America Mission (comprising Great Britain, The Netherlands, Ireland, The United States, and the German Speaking Region, encompassing houses in Italy and Austria), the Africa Mission and the Asia Mission. Until recently it has drawn the majority of its members from Europe and North America. Today there are many candidates from Cameroon, Democratic Republic of Congo, Kenya, Uganda, India, Malaysia and the Philippines.
It has Mission Areas in twelve countries - Kenya, Uganda, South Sudan, Cameroon, Democratic Republic of Congo, South Africa, Pakistan, India, Malaysia, Philippines, Brazil, Cambodia, and a presence elsewhere in the world.
The company was incorporated on 20th October 1950, under a memorandum and articles of association, and registered as number 00487520. The Charity Commission gave charitable status to it on 17th September 2012 with Charity number 1148980. Until 31 December 2012 the company was dormant. It began its activities on 1st January 2013 when the Charity for St. Joseph’s Missionary Society (British Region) trust (Charity Commission number 220690 and the Scottish Charity Regulator number SC039809) transferred assets to it. The statutory power of appointing trustees lies with the existing Trustees.
Organisation
All the Directors/Trustees of the Charity for St Joseph’s Society (Generalate) are Members of St Joseph’s Missionary Society. The directors of the company are appointed jointly by the General Superior and Vicar General. The General Superior is the Chairman of the Board of Directors. The General Superior and the Vicar General were elected by the delegates at a General Chapter held every five years. The recent General Chapter was held in June 2022 at Abingdon, England.
The Trustees
Rev Michael Corcoran MHM
Fr Corcoran has been a full member of the Society since January 1985. He was ordained in August 1985 and elected General Superior of the Society in 2015. He was re-elected Superior General at the General Chapter in June 2022. Prior to being elected General Superior he was the Head of the Society’s Irish Region.
Rev Gerard Hastie MHM
Fr Hastie has been a full Member of the Society since December 2001. He was ordained in June 2002 and was appointed Assistant Financial Secretary in May 2019. In October 2019, he was appointed Financial Secretary. He was appointed as a Director/Trustee in November 2019. Prior to being appointed as Assistant Financial Secretary he was working in the Society’s Mission in Kenya and Uganda. Gerry was elected Vicar General of the Society by the Chapter delegates in June 2022.
Rev Jimmy Lindero MHM
Fr Lindero has been a full Member of the Society since October 2006. He was ordained in April 2007 and elected to the General Council in June 2015. Prior to being elected to the General Council he was working in the Society's mission in Pakistan. He was appointed as a Director/Trustee in May 2016. His term in the General Council ended in June 2022. He was appointed Financial Secretary in February 2023.
Rev Philip Adede Amek MHM
Fr Adede has been a full Member of the Society since March 2008. He was ordained priest in August 2009. He was elected to the General Council in June 2022. He was appointed as a Director/Trustee in July 2022. Prior to his election to the General Council, he had worked in the Society’s mission in Uganda, Kenya and the UK.
Fr Bernie Luna MHM
Fr Luna has been a full Member of the Society since March 2009. He was ordained priest in April 2010. He was elected to the General council in June 2022. He was appointed as a Director/Trustee in July 2022. Prior to being elected to the General Council, he was working in the Society’s mission in Pakistan.
Objectives and aims
The principal objectives of the Society as stated in the trust deed are:
Such charitable purposes that advance the religious and other charitable work of the Society including:
1. The promotion, maintenance & support of the Society & its members including the education of those members
2. The relief of poverty and
3. The advancement of the Roman Catholic Religion
The Trustees may use the capital and the income of the Charity in promoting the Objects. These objectives clearly state the aims of the Society.
Public benefit
The Trustees have consulted the guidance made available by the Charity Commission for England and Wales on the Public Benefit requirement of the Charities Act. The Trustees are confident that they have complied with their duty under the Charities Act in that they have had due regard to public benefit guidance published by the Commission. In furtherance of the trusts charitable purposes for the public benefit the trustees give details of their activities in the following paragraphs.
Review of 2024
Mission is the heart of the Society, especially in places where the Church is still young and needed support. In Asia, the Society continues to work in places like Pakistan, India, East Malaysia, the Philippines, and the newly opened mission in Cambodia. In Africa, the Society works in Cameroon, Kenya, Uganda, Democratic Republic of Congo, South Sudan, and South Africa. There is also a missionary presence in two countries in Latin America and in the “Home Regions” like the UK, Ireland, Netherlands, Austria, Italy and North America.
The formation of candidates for ordination to missionary priesthood is one of the central activities of the Society and continues to grow as a result of a steady stream of candidates coming from the mission countries in which the Society works. In 2024 there were 106 students in the formation programme and 14 students became permanent Members of the Society and were ordained to the priesthood. The steady increase in the number of Members of the Society in recent years has allowed for the strengthening of personnel in some of the newly opened missions like Cambodia. Every two years, our formators from our various formation centres in Asia and Africa meet for updating, review and planning. In December 2023, they met in Hyderabad, India.
The Society seeks to offer its Members during their missionary life the opportunity for ongoing human development and education with the result that 8 Members followed renewal courses in 2024 and 7 were in further studies.
The Society funds its missionary work in different parts of the world through:
investments held by the Generalate,
local donations and grants from the Irish and Dutch regions and the North American area,
its share of the Missio/Mill Hill Missionary "Red Box" Appeals managed by its British Region.
For the year 2024, the Society’s investments held by Brewin Dolphin, Charles Stanley and Monetary Management Group, Inc. performed comparatively well than the previous year. The year ended with a positive gain of more than two million pounds in market value which is greater than the previous year market value gain of just over four hundred thousand. The Society monitors the performance of its investments by keeping in close touch with its advisers both in the UK and the USA and by meeting with them regularly (quarterly and annually) either face-to-face or online.
As mentioned above the Society receives funding for its mission work from its joint fundraising appeals with Missio (Registered Charity No. 1056651) which are managed by its British Region (Registered Charity No. 220690 and SC039809). The income received for 2024 through this fundraising was £596,014, a small increase from last year's income of £508,360. The Society also received generous contributions towards its work from its Regions in North America, Ireland, and the Netherlands.
The Society manages its finances from its Finance Office at the Generalate in Maidenhead and from there it liaises with its overseas bursars. It also holds an annual Finance Council Meeting with its Bursars in Europe, Cameroon, East Africa, India and the Philippines. The meeting was held online via Zoom from 20th to 26th May 2024. The Finance Council acts as an advisory body to the General Council/Board of Trustees.
Communication of its message and communication with supporters is an important work of the Charity and is kept under review. Traditionally this has been done through the various magazines published by the Society in different countries. The Society’s website, with more and more people moving online, continues to be an invaluable means for keeping supporters updated daily on the news of the Society and there has been a steady uptake in people using the site to make online donations for the work of the Society.
In accordance with its objective of the relief of poverty, the Members of the Society work in many poor and deprived areas of the world providing religious and humanitarian services. Some of these areas are difficult to work in because of disruption due to civil unrest and violence. The ongoing unrest in English-speaking Cameroon as well as the rising insecurity concerns in North-Eastern Uganda continue to raise concerns around the safety of the people and the Members who work in these places and how best to respond.
Members of the General Council normally keep in contact with Members on mission by visiting them in the areas in which they work. They were able to visit Members in Malaysia, South Sudan, Uganda, Cambodia, Kenya, Cameroon, India and in the Home Regions. Leadership Consultation Meetings, organised by the General Council for Asian, African and Home Regions, were done online via the zoom platform. Also, in October 2024, the General Council organised a Society Assembly, held at St.Joseph's Parish Centre in Maidenhead from 30th September to 4th October 2024. The main purpose of the meeting was to review the implementation of Chapter 2022 mandates. It was attended by local leadership from Areas and Regions of North America, Europe, Asia, and Africa.
The General Council liaises with other Church bodies and participates in wider Church policy discussions as a member of relevant Church Organisations such as MISAL (Missionaries of Apostolic Life) and the USG (Union of Superior Generals).
The Society achieved the objectives it set itself for the year and is satisfied with the results for the year.
Reserves policy
Where appropriate, individual funds and reserves have been discussed in the Review of 2022. The Trustees are however very conscious of the commitment of the Society to continue its work in the future and the need to safeguard resources, especially with the increase of Members nearing retirement age, and the majority of the younger Members hailing from the global South.
Investment policy
The investment policy of the Society is to receive dividends from investments, made broadly on an ethical basis, so that the aims of the Society can be achieved. Our advisors have the instruction to follow the policy of ‘safe’ rather than ‘speculative’ investments.
By July 2021, in response to a decision of the Trustees made in 2020 and in line with the Society’s commitment to ethical investments, the Society no longer held any investments with companies whose main source of income is from the extraction of fossil fuels.
Risk management
The Trustees keep under review the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust. To this end it is in constant communication with its investment advisors both here and in the USA and holds an annual review meeting with them.
The Trustees also review annually with the Society's Insurance Brokers its liabilities and the appropriateness and amounts of its insurance cover. In 2020 a review of its Medical Insurance Policy and how it covered the European members living/working in the different countries in which the Society operates was undertaken and a new policy was purchased. The policies covering members originating from Africa and Asia in the different countries they reside in remained under review. An extensive review was also carried out of Society’s Cyber Insurance policy, following on from which a new policy was purchased.
As a substantial source of income to the Society for its missionary work is the fundraising arrangement with "Missio" (Reg Charity No 1056651) the Society regularly liaises with Missio and the Society's British Region (Reg Charity No 220690 and SC039809) who collect the money on its behalf and monitors the income.
Following the recommendation of Chapter 2022, the Financial Review of the Society was undertaken in November 2022. It studied the current financial status of the Society and provided a 5-year forecast as to the financial standing of the Society.
In order to monitor the Society’s financial status and to see the effectivity of the policies in place in relation to the recommendation of the Financial Review, a follow up review was conducted in August 2024 and the original 5-year forecast was updated using the actual information available for the last 2 years.
The company was incorporated on 20 October 1950, under a memorandum and articles of association, and registered as No.00487520. The Charity Commission gave charitable status to it on 17 September 2012 No.1148980.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The trustees, who are also the directors of Charity For St Joseph's Missionary Society (Generalate) for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
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 judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In accordance with the company's articles, a resolution proposing that Robson Laidler Accountants Limited be reappointed as auditor of the company will be put at a General Meeting.
The trustees' report was approved by the Board of Trustees.
Opinion
We have audited the financial statements of Charity For St Joseph's Missionary Society (Generalate) (the ‘charity’) for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to 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.
In auditing the financial statements, we have concluded that the trustees' 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 charity’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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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 course of 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.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and
the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.
We have nothing to report in respect of the following matters in relation to which 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 prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity’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 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 an auditor's report 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.
The risk of material misstatement due to error or fraud has been assessed in conjunction with how internal controls may mitigate any such risk. These controls are reviewed as part of the audit by performing systems walkthroughs to ensure they are operating effectively. Other substantive testing is also performed on all material balances and therefore any instances of non-compliance should be identified or considered as insignificant.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team;
obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework, in which the charity operates and how the charity complies with that legal and regulatory framework
inquired with management and those charged with governance about their own identification and assessment of the risks of irregularities, including any know actual, suspected or alleged instances of fraud
discussed with management and those charged with governance any non-compliance with laws and regulations and how fraud might occur including assessments of how and where the financial statements may be susceptible to fraud.
The risk of management override of controls was also considered an area of potential misstatement due to fraud. Audit procedures performed included testing of manual journal entries and other adjustments and evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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 auditor’s 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.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Charity For St Joseph's Missionary Society (Generalate) is a private company limited by guarantee incorporated in England and Wales. The registered office is Po Box 3608, St Joseph's Parish Centre, Cookham Road, Maidenhead, SL6 7EG.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention modified to include the revaluation investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The following policies relate to the individual sources of income:
Donations are recognised when the Trust has been notified in writing of both the amount and the settlement date. Legacies are recognised on a case by case basis following the granting of probate when the administrator / executor for the estate has communicated in writing both the amount and the settlement date. Interest on funds held on deposit is included when receivable and the amount can be measured reliably. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Rental income is recognised in the period to which it relates.
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings are in constant use in furtherance of the charitable objectives and are maintained to a standard to ensure that their residual value is not less than the book value. Depreciation is therefore not provided on the basis that the assets have a very long useful life and the amount of any annual depreciation would be immaterial.
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value are shown in the Statement of Financial Activities.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity is exempt from corporation tax on its charitable activities.
Short term debtors/creditors
Debtors and creditors with no interest rate which are receivable or payable within one year are recorded at transaction price. Any loss arising from impairment are recognised immediately in the Statement of Financial Activities.
Investments
Quoted investments are stated in the financial statements at their market value on the balance sheet date. Market value represents the mid-market value price of quoted investments on the relevant day. The resulting unrealised surplus or deficit is credited or debited to the Statement of Financial Activities.
Masses said
Contributions from overseas
Investments
Dividends received
Rents received
Raising funds
Fundraising costs
Investment management costs
Pastoral activities
Pastoral activities
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
Transactions with trustees
During the year the Trustees received living and holiday allowances totalling £23,400 (2023: £21,300). In addition, the charity paid travel expenses totalling £26,690 (2023: £46,224). The charity paid medical expenses totalling £2,955 (2023: £2,103). The charity also provides the Trustees with the use of a vehicle and accommodation (including the payment of council tax, rates and relevant bills) for the current and previous financial year. All these costs were in relation to the Trustees duties as missionaries rather than in relation to their duties as a Trustee.
The average monthly number of employees during the year was:
The Trustees consider that no key management received remuneration in either the current or previous year.
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Following an agreed change in use of a previously owner-occupied premises, investment property now comprises Holcombe Court, UK and Rome House, Italy.
The UK property was most recently valued on 18 October 2024 by Knight Frank based on its retail value if sold as a single lot.
A change-in-use from owner-occupied to investment property was agreed for Rome House effective February 2024. The land and buildings were valued in total at €6,069,000 on 15 May 2023 by an external surveyor in Italy and this has been translated at the exchange rate in February. The trustees believe this valuation is still appropriate at the year end.
The charity has contributed £136,270 to become a corporate member of Tangaza College (Catholic University of East Africa) an institution used by the order for training and education of candidates for the priesthood.
Included within the amounts held for Missions is £420,547 (2023: £220,547) pledged to support building projects in Pargi and other areas of India. The remaining balance represents amounts requested by the Society's regional Mission's which have not yet been paid out.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
Gains and losses
Fent Travel
The Fent Travel fund represents money received for the purchase of transport in Mission areas.
Ward Memorial
The Ward Memorial fund represents money left to the Society for non-administrative purposes
New Members Retirement fund
The New Members Retirement fund represents monies received for the provision of funding members joining the Society in what were Mission areas.
Vrijland fund
This fund represents monies received from the Dutch region following the sale of the Vrijland, of which 80% was to be invested into an investment portfolio and the remaining 20% to be spent on the charity's charitable expenditure.
Donations Fund
This funds represent donations received for specific grants awarded.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At the reporting end date the charity had contracted with tenants for the following minimum lease payments:
During the year the Charity for St Joseph's Missionary Society (British Region) paid over £596,014 (2023 : £508,360) in donations to support the Generalate's mission activities.
At the year end, £291,233 (2023: £283,730) is included within debtors relating to amounts owed by the Charity for St Joseph's Missionary Society (British Region). Although the British Region and Generalate do not share any common Trustees, they do work closely with each other and are deemed to be related parties for disclosure purposes.
At the year end, there was £11,210 (2023: £10,520) included within debtors relating to amounts owed by Fleming Dun Trust, a charity with common trustees.