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← Institute Of Christ The King

2025-03-31-accounts

Charity registration number 1144783 (England and Wales) Company registration number 07767151

ICKSP

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2025

ICKSP

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr K G Jones
Canon A Montjean
Mr P Russell
Rev G Cristofoli
Canon V Poucin
Charity number (England and Wales) 1144783
Company number 07767151
Registered office 46 Hamilton Square
Birkenhead
Wirral
Merseyside
CH41 5AR
Independent examiner Helen Furlong FCCA
Xeinadin North West Limited
46 Hamilton Square
Birkenhead
Wirral
Merseyside
CH41 5AR
Bankers HSBC
31 The Pyramids
Grange Road
Birkenhead
Wirral
Merseyside
CH41 2ZL

ICKSP

CONTENTS

Page
Trustees' report 1 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11 - 20

ICKSP

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 MARCH 2025

The Trustees present their annual report and financial statements for the year ended 30 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and 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)" (effective 1 January 2019).

Objectives and activities

The objects of the Charity are the advancement of the Roman Catholic Faith

Powers in pursuit of the object.

The provision of assistance in the training of men for the priesthood of the Roman Catholic Church in seminaries anywhere in the World with preference being given to seminaries who use the classical Roman Liturgy.

The purchase construction or other acquisition and maintenance of places of worship where Roman Catholic services may be held; such services to be in accordance with the classical Roman Rite of the Catholic Church and so far as possible in accordance with the usus antiquior Missal.

The purchase or acquisition and retention of suitable items of religious art and objects of devotion in accordance with the principles of the Roman Catholic Church.

The Support of Roman Catholic priests willing and able to learn and celebrate the classical Roman Rite of the Catholic Church.

Public Benefit

The Trustees confirm that they have regard to the guidance contained in the Charity Commission's General Guidance on Public Benefit when reviewing the activities of the organisation during the year.

ICKSP

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2025

Achievements and performance

Significant activities and achievements against objectives

We have five Churches in England:

St Peter & Paul and St Philomena, St Walburge, English Martyrs and Holy Angels churches are designated Shrines.

The Institute of Christ the King, an Italian-based order of clergy, secured 75-year leases from the Diocese of Shrewsbury and Lancaster to run and staff the former parish church, as a unique focus for the traditional and venerable forms of Catholic prayer and worship, and to ensure that the church building was always accessible to anyone.

We had 8 resident clergy.

In September 2025, Canons Post and Poucin swapped residency.

We have 4 Sisters at the House of St Augustine in Preston

ICKSP

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2025

A. Ss Peter & Paul St Philomena:

We are serving as chaplains of the Carmelite Sisters in Birkenhead and have daily Mass at 8am.

There is daily mas ats 6.30pm Monday to Thursday and Saturday 10am and Sunday 8.30am and 10.30 am, with Lauds & meditation, adoration, Vespers (see website for times). There are also catechetical classes, preparation for baptism, Confessions, first Holy Communion and marriage. The Sunday congregation has now reached a stable number of 200-230 people on average.

In April 2024, a complete renovation of the back garden was undertaken, improving the land around the presbytery.

Some investigations are being made towards the replacement of the windows of the presbytery, in order to improve the insulation of the house, and reduce the heating costs.

B. St Walburge:

Congregation is still growing slowly. Mass is said daily in the church, and a weekly dayadoration of the Blessed Sacrament, is observed. Four Catechism classes for various ages are 3 currently being hold regularly. Guilds of parishioners are still in operation on monthly basis, and are hold in St Walburge’s Hall, which a significant growing number of people are attending.

There are currently 3 men in the House of discernment. The running costs of this house of formation are still very high.

A significant part of the roof of the church of St Walburge’s Church is being planned (sanctuary) for restoration, with works starting during the 3 rd quarter of 2025. This project is funded by a private donor for (£200,000.00), received a grant from the Albert Gubay foundation (£100,000.00) and we are working in order to obtain a grant from the Heritage Lottery (£245,000.00 approximately), as the costs significantly increased from the 1st estimate. The architect is still working on drawings and quotes.

C. English Martyrs:

The buildings was still used by our St Benedict’s Cultural Centre to support homeschooling families but will move the Cultural Centre to St Walburge’s premises (adjacent building) in April-May 2024.

As it was extremely difficult for the Canons in Preston to maintain 2 buildings of that size (St Walburge and English Martyrs) in the same town, Lancaster RC Diocese has been approached to have the lease of English Martyrs terminated before summer. This agreement ended on the 30th June 2024.

ICKSP

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2025

D. St Winefride’s:

The Shrine church congregation is growing slowly but surely, under the pastoral care of Canon Wiener, who deliver regular Faith talks for adults, and gives first Holy Communion preparations. He uses the church hall for homeschooling families’ gatherings once a month.

The secondary double glazing of the presbytery was successfully completed in May 2024, allowing to improve the heating performances of the presbytery, during the winter 2024-2025.

E. Lanherne:

Canon Smith is the Chaplain of the Carmelite Sisters in Lanherne: he celebrates daily Mass for them and have a faithful congregation on Sundays. He receives good financial support from the “Friends of Lanherne”, who provide his monthly wages and car insurance. The Diocese of Plymouth pays all Utility bills and taxes.

F. Torquay

Mass is celebrated every day at Holy Angels, with regular catechism classes, and preparation for the reception of Sacraments.

In September 2024, some attentions were requested towards the garden, as some trees were threatening the roof of the church. After being cut down, a new fence is to installed, to secure the land around the church and the presbytery. We also had to replace the old boiler of the church.

G. Province:

The funds of the mew ICKSP Province are still used to pay wages to the clergy of the ICKSP in the UK: we send two letters per annum to our benefactors to keep them updated on the ICKSP missions in the UK and ask their spiritual and financial support.

H. Sisters Adorers (Preston):

We have now 4 Sisters in residence at Preston Convent: the Sisters look after the Shrine of English Martyrs where they part-time teach the children of the St Benedict Academy. Their presence is highly appreciated by the homeschooling families and their children. They have started a fundraising campaign to restore an former convent adjacent to the church of St.Walburge (Preston). These restoration works should begin by June 2025. When the work will be completed, the Sisters would move to their new building, and their current accommodation will be handed back to St John XXIII’s parish, with termination of the lease

Fundraising practices

Any fund-raising which is required for the churches is discussed by trustees and is done in house with no 3rd party involvement as and when necessary.

Financial review

Financial position

Incoming resources for the year amounted to £842,069 (2024 £922,844) and resources expended amounted to £538,673 (2024 £624,623), leaving a surplus for the year of £303,396 (2024 £298,221). Unrestricted funds carried forward amounted to £737,300 (2024 £541,785) and restricted funds amounted to £410,238 (2024 £302,357) therefore giving total funds carried forward of £1,147,538 (2024 £844,142). Cash at bank amounted to £924,012 (2024 £839,161).

The Charity's unrestricted free reserves amounted to £704,185 (2024 £503,303).

Reserves policy

The trustees aim is to maintain reserves at a level of at least three months net running costs. This has been met in the current year.

Going concern

After making appropriate enquiries, the board of trustees has a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason it continues to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Statement of Accounting Policies.

ICKSP

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2025

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Health and safety manager has been appointed and reports to trustees. All DBS checks are completed by safeguarding representative when required. Before ownership is undertaken of a new church, a risk assessment is done by an independent body and reported back to trustees. The Church has a weekly newsletter with principles names and contact numbers for any issues or concerns that might arise. The rise in inflation and cost of living could impact on ability to fund raise for projects and repairs to the churches. The Government and lottery funds decision to restrict grants to churches for large repairs could have an impact in the future.

Plans for the future

Plans for the future comprise a new mission in Liverpool Diocese in Wigan to commence on September 2024 after a trial period of 6 months. St Mary’s church ad presbytery to be taken over under a long lease period. Restoration of the old convent buildings of St Walburge’s church in Preston.

Structure, governance and management

Governing document

The charity is controlled by its governing document, the Memorandum, and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

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:

Mr K G Jones

Mr P Dilworth (Resigned 30 September 2024) Canon A Montjean Mr P Russell Rev G Cristofoli Canon V Poucin

Recruitment and appointment of new trustees

The appointment of Trustees has to be agreed unanimously by the existing Trustees, and any Trustee can nominate a potential new Trustee.

New Trustees are invited and encouraged to attend short briefing sessions to familiarise themselves with the charity and the context within which it operates.

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

Organisational structure

The charity is governed by the board of trustees, which currently comprises of 5 trustees. Meetings are held at least twice a year.

The the day to day running of the charity has been delegated to 3 of the trustees. They are assisted by a bursar to manage banking & funds and also safeguard manager. Both of whom report back to the 3 trustees on a very regular basis.

Key management remuneration

The trustees consider the senior management team comprise the key personnel of the charity in charge of controlling, running and operating the charity on a day to day basis.

The pay of the senior staff is reviewed annually and normally increased to the same extent as the rest of the staff.

ICKSP

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2025

The Trustees' report was approved by the Board of Trustees.

.............................. .............................. Canon A Montjean Mr P Russell Trustee Trustee Date: .............................................

ICKSP

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ICKSP

I report to the Trustees on my examination of the financial statements of ICKSP (the charity) for the year ended 30 March 2025.

Responsibilities and basis of report

As the Trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

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.

Independent examiner's statement

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:

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.

Helen Furlong FCCA Xeinadin North West Limited

46 Hamilton Square Birkenhead Wirral Merseyside CH41 5AR Date: ............................

ICKSP

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income and endowments from:
Donations and legacies
3
651,939
132,125
Charitable activities
4
14,016
-
Other trading activities
5
22,988
-
Investments
6
13,861
-
Other income
7
7,140
-
Total income
709,944
132,125
Expenditure on:
Raising funds
8
3,272
-
Charitable activities
9
511,157
24,244
Total expenditure
514,429
24,244
Net income
195,515
107,881
Transfers between
funds
-
-
Net movement in
funds
11
195,515
107,881
Reconciliation of funds:
Fund balances at 31 March
2024
541,785
302,357
Fund balances at 30 March
2025
737,300
410,238		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
784,064
437,506
441,250
14,016
13,937
-
22,988
20,996
-
13,861
9,155
-
7,140
-
-
842,069
481,594
441,250
3,272
7,489
-
535,401
473,241
143,893
538,673
480,730
143,893
303,396
864
297,357
-
5,000
(5,000)
303,396
5,864
292,357
844,142
535,921
10,000
1,147,538
541,785
302,357		 Total
2024
£
878,756
13,937
20,996
9,155
-
922,844
7,489
617,134
624,623
298,221
-
298,221
545,921
844,142

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

ICKSP

BALANCE SHEET

AS AT 30 MARCH 2025

Notes
Fixed assets
Tangible assets
15
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
18
Unrestricted funds
19		 2025
£
£
33,115
211,061
924,012
1,135,073
(20,650)
1,114,423
1,147,538
410,238
737,300
1,147,538		 2024
£
£
38,482
46,195
839,160
885,355
(79,695)
805,660
844,142
302,357
541,785
844,142		 2024
£
£
38,482
46,195
839,160
885,355
(79,695)
805,660
844,142
302,357
541,785
844,142
844,142
302,357
541,785
844,142

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 March 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on .........................

.............................. ..............................
Canon A Montjean Mr P Russell
Trustee Trustee

Company registration number 07767151 (England and Wales)

ICKSP

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from operations
24
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash used in investing activities
Net cash generated from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
(14,627)
-
13,861		 £
85,618
(766)
-
84,852
839,160
924,012		 2024
£
(17,187)
461
9,155		 £
574,272
(7,571)
-
566,701
272,459
839,160

ICKSP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2025

1 Accounting policies

Charity information

ICKSP is a private company limited by guarantee incorporated in England and Wales. The registered office is 46 Hamilton Square, Birkenhead, Wirral, Merseyside, CH41 5AR.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, 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. The principal accounting policies adopted are set out below.

1.2 Going concern

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.

1.3 Charitable funds

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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

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.

1.5 Expenditure

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.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

ICKSP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2025

1 Accounting policies

(Continued)

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:

Plant and equipment 20% straight line Fixtures and fittings 20% straight line Computers 20% straight line Motor vehicles 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

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).

1.8 Cash and cash equivalents

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.

1.9 Financial instruments

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

Basic financial assets, which include debtors and cash 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

Basic financial liabilities, including 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

ICKSP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2025

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
641,919
32,125
Legacies
100
-
Grants
9,920
100,000
651,939
132,125
Grants for building restoration
Listed places of worship
9,920
-
Albert Gubay
-
100,000
9,920
100,000		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
674,044
432,082
441,250
100
-
-
109,920
5,424
-
784,064
437,506
441,250
9,920
5,424
-
100,000
-
-
109,920
5,424
-		 Total
2024
£
873,332
-
5,424
878,756
5,424
-
5,424

ICKSP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2025

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fees house discerment 14,016 13,937
5 Income from other trading activities
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising events 6,103 9,300
Rents received 12,935 8,012
Piety Shop 3,950 3,684
Other trading activities 22,988 20,996
6 Income from investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 13,861 9,155
7 Other income
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Other income 7,140 -

ICKSP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2025

8 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Fundraising agents 3,272 7,489
9 Expenditure on charitable activities
2025 2024
£ £
Direct costs
Staff costs 47,090 46,880
Depreciation and impairment 19,995 19,840
Church running costs 447,771 505,253
Profit/loss on fixed asset disposals - 361
514,856 572,334
Share of support and governance costs (see note 10)
Support 14,418 40,861
Governance 6,127 3,939
535,401 617,134
Analysis by fund
Unrestricted funds - general 511,157 473,241
Restricted funds 24,244 143,893
535,401 617,134
10 Support costs allocated to activities
2025 2024
£ £
Bank charges 1,705 1,723
Legal & professional 4,946 1,902
International central administration & formation costs 7,767 37,236
Governance costs 6,127 3,939
20,545 44,800
Analysed between:
Charitable activities 20,545 44,800

ICKSP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2025

11 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements - -
Depreciation of owned tangible fixed assets 19,995 19,840

12 Trustees

During the year to 30 March 2025 3 of the trustees, Canon Montjean, Rev Cristofoli & Canon Poucin received payments for their work as priests, these payments in total amounted to £19,950 (2024 £11,880).

13 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
8 9
Employment costs 2025 2024
£ £
Wages and salaries 47,090 46,880

There were no employees whose annual remuneration was more than £60,000.

14 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

ICKSP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2025

15
Tangible fixed assets
Plant and
equipment
Fixtures and
fittings
Computers
£
£
£
Cost
At 31 March 2024
2,676
93,969
7,119
Additions
2,000
12,379
248
At 30 March 2025
4,676
106,348
7,367
Depreciation and impairment
At 31 March 2024
1,568
72,424
5,106
Depreciation charged in the year
686
14,468
729
At 30 March 2025
2,254
86,892
5,835
Carrying amount
At 30 March 2025
2,422
19,456
1,532
At 30 March 2024
1,108
21,545
2,012
16
Debtors
Amounts falling due within one year:
Other debtors
17
Creditors: amounts falling due within one year
Other creditors - Salary
Other creditors
Accruals and deferred income		 Motor
vehicles
£
26,905
-
26,905
13,088
4,112
17,200
9,705
13,817
2025
£
211,061
2025
£
1,000
-
19,650
20,650		 Total
£
130,669
14,627
145,296
92,186
19,995
112,181
33,115
38,482
2024
£
46,195
2024
£
2,310
45,519
31,866
79,695

ICKSP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2025

18 Restricted funds

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.

At 31 March At 31 March Incoming Resources Transfers At 30 March At 30 March
2024 resources expended 2025
£ £ £ £ £
Donation for Candlestick - 1,000 (1,000) - -
Margret Rushton - 10,000 - - 10,000
A Gubay - 100,000 - - 100,000
Dr Couldery 294,613 - - - 294,613
Mr & Mrs Couldery 7,744 17,600 (23,244) - 2,100
Gift Aid - 3,525 - - 3,525
302,357 132,125 (24,244) - 410,238
Previous year: At 31 March Incoming Resources Transfers At 30 March
2023 resources expended 2024
£ £ £ £ £
Diocese of Shrewsbury 10,000 - (10,000) - -
Donation re boilers Ss Peter &
Paul and St Philomena - 20,000 (20,000) - -
Dr Couldery - 350,000 (55,387) - 294,613
Mr & Mrs Couldery - 50,000 (37,256) (5,000) 7,744
Gift Aid - 21,250 (21,250) - -
10,000 441,250 (143,893) (5,000) 302,357

19 Unrestricted funds

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 31 March Incoming Resources Transfers At 30 March
2024 resources expended 2025
£ £ £ £ £
General funds 541,785 709,944 (514,429) - 737,300
Previous year: At 31 March Incoming Resources Transfers At 30 March
2023 resources expended 2024
£ £ £ £ £
General funds 535,921 481,594 (480,730) 5,000 541,785

ICKSP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2025

20 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 30 March 2025:
Tangible assets
33,115
-
Current assets/(liabilities)
704,185
410,238
737,300
410,238
Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 30 March 2024:
Tangible assets
38,482
-
Current assets/(liabilities)
503,303
302,357
541,785
302,357		 Total
2025
£
33,115
1,114,423
1,147,538
Total
2024
£
38,482
805,660
844,142

21 Financial commitments, guarantees and contingent liabilities

On 27 March 2023 a loan agreement was signed with Dicoese of Shrewsbury for £40,000 towards the installation of new boilers at St Peter & Paul Catholic Presbytery. The loan was received in April 2023.It was due to be repaid yearly over 5 years, with first repayment due 1 April 2024, however, after discussions with all concerned it has been decided that the loan will be repaid in full, and this took place on 28.06.24.

22 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2025
£
5,386
12,118
17,504		 2024
£
5,386
17,503
22,889

Transactions with related parties

During the year ended 30 March 2025, there were no transactions with related parties.

ICKSP

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2025

24
Cash generated from operations
2025
£
Surplus for the year
303,396
Adjustments for:
Investment income recognised in statement of financial activities
(13,861)
Depreciation and impairment of tangible fixed assets
19,995
Movements in working capital:
(Increase)/decrease in debtors
(164,866)
(Decrease)/increase in creditors
(59,046)
Cash generated from operations
85,618
25
Analysis of changes in net funds		 2024
£
298,221
(9,155)
19,840
232,117
33,249
574,272

The charity had no material debt during the year.