The trustees present their annual report and financial statements for the year ended 30 November 2025.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the Charity's Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016).
The objective of the Charity is to advance the Roman Catholic faith by supporting, in particular, the Personal Ordinariate of Our Lady of Walsingham which was established by Pope Benedict XVI to allow Anglicans to enter into the full communion of the Catholic Church whilst retaining much of their Anglican heritage.
The trustees have paid due regard to the Charity Commission guidance in ensuring that the Charity’s activities give due regard to public benefit.
Between 1st December 2024 and 30th November 2025 there were three Board meetings on: 29th January 2025, 4th June 2025 and 24th September 2025. The Board has agreed to hold three Board meetings each year.
Chief Grants
Chief Grants given by the Charity during the financial year ended 30th November 2025 were:
£1,000 for a laptop for a seminarian
£1,000 towards the cost of an Ordinariate banner
£1,000 for Christmas grants to two seminarians
£1,500 for the acquisition of vestments from a retired Ordinariate priest
£8,500 towards temporary rental costs for an Ordinariate priest and his family
£1,800 towards the restoration of a throne for Ordinariate Bishop Rt. Revd. David Waller
£2,300 for the flight costs and accommodation for an Ordinariate priest studying for a doctorate in Vienna
(Note: An updated version of the FOTO Grants Policy was approved at the Board meeting on 24th September 2025.)
The chief costs during this year were as follows:
Arque Consulting (bookkeeper): £1,840
Affinia (formerly known as Clarkson Hyde): £3,006
The Newsletter (one edition): £5,129
£3,500 was spent on the reprinting and mailing of a special anniversary section published in the Catholic Herald in 2024. This was done with the permission of the Catholic Herald. The special section celebrated the 300th anniversary of the creation of the chapel in 1724 behind the Portuguese Embassy. This chapel was rebuilt in 1789/90 as the Church of St Gregory (later being known as the Church of Our Lady of the Assumption & St Gregory). It is now the Central Church of the Ordinariate of Our Lady of Walsingham.
A reception in the throne room of Archbishop’s House, Westminster £5,000
Activities
On Sunday 20th January the Ordinariate banner, part-sponsored by FOTO, was blessed by the Rt. Revd. Bishop David Waller, Bishop of the Personal Ordinariate of Our Lady of Walsingham.
On Thursday 10th April FOTO sponsored the music for the first Chrism Mass by Bishop Waller.
The chief event of the year was the reception held on Wednesday 14th May in the Throne Room of Archbishop’s House, Westminster, to allow Bishop Waller to meet friends and benefactors of FOTO. Among the guests were Vincent Cardinal Nichols, His Excellency the Papal Nuncio, Sir Julian Brazier, Sir Bill Cash CH, Lord Craigmyle, Sir Bernard de Hoghton Bt DL, The Squire de Lisle, The Rt Hon Sir Ian Duncan-Smith PC MP, Georgina Duchess of Norfolk, the Rt Hon Sir Jacob and Lady Rees-Mogg.
In the year ending 30th November 2025 the Friends of the Ordinariate generated revenue of £44,874. Funds were received from a large number of regular donors, from a small number of larger, one-off gifts and from Gift-Aid. During 2024-2025 the value of the charity’s investments decreased by £8,446..
Fundraising costs were £15,373 and the costs of administration and support amounted to £5,843. The trustees believe that the majority of the Charity's costs are of a fixed nature, meaning that future revenue growth should not be matched by an equivalent increase in costs. The net reserves at the end of the year were £346,501 a decrease of 2% compared with reserves at 30th November 2024.
It is the policy of the Charity that funds which have not been designated for a specific use should be maintained at a level equivalent to around six months’ expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The trustees decided to invest the funds provided as a result of the legacy left to the Charity in 2017. This provides an additional source of income for the Charity. The Trustees will continue to maintain funds in the Charity’s current bank account equal to about six months of expenditure.
Risk management
The Board is responsible for the management of risks faced by the Charity and these are considered, as appropriate, at Board meetings.
The Friends of the Ordinariate of Our Lady of Walsingham (the "Charity") was incorporated on 23 June 2011 and entered on the register of charities on 1 July 2011.
Membership of the Charity as at 30 November 2025 consisted of nine subscribers. Each member has guaranteed to pay £1 in the event of the Charity winding up.
The trustees at the date of this report are shown in the Reference and Administrative Information on page 1. The directors of the Charity are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.
The Trustees have a written policy on grants to be made by the Friends of the Ordinariate. This was approved by the Trustees in June 2021 and updated as of 24th September 2025.
At the Board meeting held on 24th September Nicolas Ollivant announced his intention to retire as chairman but to remain as a Trustee. Michael Hodges proposed Peter Sefton-Williams to succeed Mr Ollivant and Revd Fr. Richard Biggerstaff was seconder. Mr Sefton-Williams was unanimously elected as chairman.
Appointment and induction of trustees
As set out in the Articles of Association the number of trustees shall be not less than three and is not subject to a maximum. The trustees have the power to appoint additional trustees. During the year 2024/2025 one Trustee, Msgr. John Broadhurst, resigned after 14 years on the board. As at 30 November 2025 there were nine Trustees: Peter Sefton-Williams (Chairman), Msgr. Vincent Brady, Msgr. Keith Newton, Nicolas Ollivant, Richard Cleary, Benjamin Fowler, Michael Hodges, Revd Fr. Nicholas Leviseur and Revd Fr Richard Biggerstaff. Trustees retire by rotation in accordance with the Articles.
Trustees are selected in light of the skills, knowledge and experience that are deemed to be required. Trustees are appointed by the unanimous decision of the Board. The induction process has, to date, been through informal meetings and discussion. A formal induction process has now been put in place for new Trustees; this includes a briefing for new Trustees on their legal obligations.
Organisation and management
Ultimate responsibility for the Charity rests with the Trustees who meet three times a year. There are no sub-committees. The day-to-day management rests with Peter Sefton-Williams (Chairman), and Nicolas Ollivant, a trustee (and former Chairman). Other Trustees assist from time to time. There are no employees of the Charity. The Charity pays for the services of a part-time financial controller, which amounts to approximately one day’s work per week. The Chairman is responsible for the strategic plan which puts emphasis on cost control and efficiency as well as the creation and maintenance of a database of donors. Trustees also perform, free of charge, most of the work involved in fund-raising events. The services of a software consultant and design consultant are used on an occasional basis. During 2025 the website (https://www.friendsoftheordinariate.org.uk/) was redesigned. For each Board meeting management accounts are prepared by an accountant from Arque Consulting. At each Board meeting the Trustees monitor income and expenditure and approve, on a case-by-case basis, grant applications. Between Board meetings Trustees are in touch with one another on at least a weekly basis.
Approved by the board of trustees of the Friends of the Ordinariate of Our Lady of Walsingham and signed on their behalf by:
I report to the trustees on my examination of the financial statements of Friends of the Ordinariate of Our Lady of Walsingham (the Charity) for the year ended 30 November 2025.
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the Charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Friends of the Ordinariate of Our Lady of Walsingham is a private company limited by guarantee incorporated in England and Wales. The registered office is 24 Golden Square, London, W1F 9JR, England.
The financial statements have been prepared in accordance with the Charity's Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
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. 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 are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
All expenditure is included in the accounts on an accruals basis. The Charity is not registered for VAT and accordingly, all expenditure is shown gross of irrecoverable VAT.
Cash and cash equivalents include deposits held at call with banks.
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors 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. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable 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.
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
Sales within charitable activities
Investments
(Losses)/gains on revaluation of investments
Raising funds
The average monthly number of employees during the year was:
There were no disclosable related party transactions during the year (2024 - none).