2024-06-30-accounts

Reports
Referenceandadministrativedetailsofthecharity,itstrusteesandadvisers	1
Trustees'report	2-12
Independentauditor'sreport	13-16
Accounts
Statementoffinancialactivities	17
Balancesheet	18
Statementofcashflows	19
Principalaccountingpolicies	20-24
Notestotheaccounts	25-35

ngregationandcharity-withouttheircon lyasitdoes.Detailsoftheareasinwhich pportiveofthepeopleinlocalparishes.	tribution,thecharitywouldnot membersgavetheirtimearesho
Area	Numberofsistersinvolved
ParishworkandEucharisticministry	2
Volunteeratlocalhospital	1
HeritageCentre	1fulltime

Date: 2 December 2024

		Unrestricted	Restricted	2024	Unrestricted	Restricted	2023
		Funds	Funds	Totalfunds	Funds	Funds	Totalfunds
	Notes	£	£	£	£	£	£
INCOMEFROM:
Donationsandlegacies	I	168.783	6,467	175,250	180,034	31,080	211.114
Investmentsandbankdeposits	2	329,714	12,442	342,156	336,567	5,553	342,120
Other
-Surplusondisposaloftangible
fixedassets	3	11,317		11,317	4,199		4,199
TotalIncome		509,814	18,909	528,723	520,800	36,633	557,433
EXPENDITUREON:
Charitableactivities
Supportofmembersofthe
Congregationandtheirministry	4	890,014		890,014	816,025	-	816,025
Donations	5	185,550	96,945	282,495	141,550	18,968	160,518
HeritageCentre	6		188,124	188,124	22	180,744	180,766
TotalExpenditure		1,075,564	285,069	1,360,633	957,597	199,712	1,157,309
Netexpenditurebefore(losses)
/gainsoninvestments		(565,750)	(266,160)	(831,910)	(436,797)	(163,079)	(599,876)
Otherrecognisedgainsandlosses
Netgains/(losses)oninvestments	13	799,638		799,638	122,066		122,066
Netincome/(expenditure)and
netmovementinyear	8	233,888	(266,160)	(32,272)	(314,731)	(163,079)	(477,810)
Reconciliationoffunds:
Totalfundsbroughtforwardat
1July2023		13,477,116	2,654,916	16,132,032	13,791,847	2,817,995	16,609,842
Totalfundscarriedforwardat
30June2024		£13,711,004	£2,388,756	£16,099,760	£13,477,116	£2,654,916	£16,132,032

ITTLECOMPANYOFMARYSISTERSENGLANDCIO	ITTLECOMPANYOFMARYSISTERSENGLANDCIO	ITTLECOMPANYOFMARYSISTERSENGLANDCIO
ALANCESHEET
SAT30JUNE2024
			2024	2023
		Notes
FIXEDASSETS
Tangiblefixedassets		12	4,072,772	4,327,670
Investments		13	10,934,555	10,634,917
			15,007,327	14,962,587
CURRENTASSETS
Debtors		14	103,150	249,676
Cashatbank&inhand			1,098,618	1,081,200
			1,201,768	1,330,876
CURRENTLIABILITIES
CREDITORS:Amountsfalling
duewithinoneyear		15	(109,335)	(101,461)
NETCURRENTASSETS			1,092,433	1,229,415
			16,099,760	16,192,002
CREDITORS:Amountsfalling
dueafteroneyear		16		(59,970)
NETASSETS			£16,099,760	£16,132,032
REPRESENTEDBY:
FUNDSANDRESERVES
Restrictedfunds		17	2,388,756	2,654,916
Unrestrictedfunds
-Designatedfunds		18	6,661,912	6,847,462
-Tangiblefixedassetsfund		19	2,559,588	2,739,054
-Generalfund			4,489,504	3,890,600
			13,711,004	13,477,116
			£16,099,760	£16,132,032
pprovedbythetrusteesandsignedontheirbehalfby:
eannetteConnell	Cot.,abf
rustee
pprovedbythetrusteeson:	Itt	veik6ii2.24
18

	Notes	2024	2023
		£	£
CashflowsfromOperatingActivities
Netcashusedinoperatingactivities	A	(929,382)	(923,215)
Cashflowsfrominvestingactivities
Investmentincomeandinterestreceived		342,618	345,755
Purchaseoftangiblefixedassets		(20,152)	(14,655)
Receiptsfromsalesoffixedassets		124,334	4,200
Purchaseofinvestments		-	(10,538,294)
Proceedsfromdisposalofinvestments		500,000	11,038,294
Netcashgeneratedbyinvestingactivities		946,800	835,300
Changeincashandcashequivalentsintheyear		17,418	(87,915)
Cashandcashequivalentsat1July2023		1,081,200	1,169,115
Cashandcashequivalentsat30June2024	B	£1,098,618	£1,081,200
Notestothecashflowstatementfortheyearto30June2024
A.Reconciliationofnetincomefortheyeartonetcashusedinoperatingactivities
		2024	2023
		£	£
Netexpenditurefortheyear
(aspertheStatementofFinancialActivities)		(32,272)	(477,810)
Adjustmentsfor
Depreciation charge		162,033	162,486
(Gains)/Lossesoninvestments		(799,638)	(122,066)
Investmentincomeandinterestreceivable		(342,156)	(342,120)
Surplusondisposaloffixedassets		(11,317)	(4,199)
Decrease/(Increase)indebtors		146,064	(34,801)
(Decrease)increditors		(52,096)	(104,705)
Netcashusedinoperatingactivities		£(929,382)	£(923,215)
B.Analysisofcashandcashequivalents
Cashatbankandinhand		1,098,618	1,081,200
Totalcashandcashequivalents		£1,098,618	£1,081,200

	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds	2024	Funds	Funds	2023
	£	£	£	£	£	£
Sisters'salariesandpensions
donatedunderGiftAidorDeed
ofCovenant	166,441		166,441	173,178		173,178
Legacies	1,457	5,160	6,617	5,200	30,000	35,200
Donations	885	1,307	2,192	1,656	1,080	2,736
	£168,783	£6,467	£175,250	£180,034	£31,080	£211,114
INCOMEFROM:INVESTMENTS	ANDBANK	DEPOSITS
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds	2024	Funds	Funds	2023
	£	£	£	£	£	£
Incomefromlistedinvestments	324,680		324,680	333,557		333,557
Bankinterest	5,034	12,442	17,476	3,010	5,553	8,563
	£329,714	£12,442	£342,156	£336,567	£5,553	£342,120

		Unrestrictedfunds			Unrestrictedfunds
	Proceeds	NetBook		Proceeds	NetBook
	(net)	Value	Total	(net)	Value	Total
	Funds	Funds	2024	Funds	Funds	2023
	£	£	£	£	£	£
Gainondisposalofproperties	120,334	(113,015)	7,319
Gainondisposalofmotorvehicle	4,000	(2)	3,998	4,200	(1)	4,199
	£124,334	£(113,017)	£11,317	£4,200	£(1)	£4,199

	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds	2024	Funds	Funds	2023
	£	£	£	£	£	£
Premisesandequipmentcosts	85,289		85,289	46,195		46,195
Sisters'livingandministry
expenses	682,168		682,168	595,093		595,093
Othersupportcosts	109,447		109,447	162,738		162,738
Governancecosts(note7)	13,110		13,110	12,000		12,000
	£890,014	£-	£890,014	£816,025	£-	£816,025

EXPENDITUREON:DONATIONSANDG	RANTS
	Unrestricted	Restricted	Total	Total
	Funds	Funds	2024	2023
	£	£	£
ThePalliativeCareCentreinKorce,Albania	-	96,945	96,945	18,968
ContributiontotheGeneralate	63,050		63,050	63,050
MerseysideCounselling	40,000		40,000
LittleCompanyofMaryGeneralate
Emergency	12,500		12,500	12,500
CAFOD	10,000		10,000	10,000
JesuitRefugeeService	10,000		10,000
RLSS-DonationtoCommonFund	1,000		1,000	2,000
FamulliaChurchAlbania	1,000		1,000
KWilkinson-Donationtosupportmasters	5,000		5,000
MarriageCare	1,000		1,000
StBarnabasCathedral	5,000		5,000	5,000
ThePassage	5,000		5,000	5,000
EmmausHouse	5,000		5,000	5,000
Mary'sMeals	5,000		5,000	5,000
ShootingStarChildren'sHospice	2,000		2,000	2,000
CardinalHumeCentre	5,000		5,000	5,000
CatholicChildren'sSociety	2,000		2,000	2,000
EmmanuelHouse	5,000		5,000	5,000
AidtotheChurchinNeed	3,000		3,000	3,000
CatholicChurch,Albania	2,000		2,000	2,000
GoodShepherdBuildingFund	1,000		1,000	2,000
BritishHeartFoundation	-			5,000
TheDestitutionProject(Bolton)				5,000
HaywardHouse				1,000
Paymentsoflessthan£1,000each	2,000		2,000	2,000
Total	£185,550	96,945	£282,495	£160,518
PriorYear
	Unrestricted	Restricted	Total
	Funds	Funds	2023
	£	£	£
Total	£141,550	£18,968	£160,518

EXPENDITUREON:HERITAGE	CENTRE
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds	2024	Funds	Funds	2023
	£	£	£	£	£	£
HeritageCentreoperatingexpenses		112,692	112,692	22	89,811	89,833
Depreciation		75,432	75,432		90,933	90,933
	£-	£188,124	£188,124	£22	£180,744	£180,766

GOVERNANCECOSTS
	Total	Total
	2024	2023
	t	£
Auditor'sremuneration(includingVAT):
-Currentyear	12,750	12,000
-Prioryear	360
	£13,110	£12,000
NETMOVEMENTINFUNDSFORTHEYEAR
	Total	Total
	2024	2023
	£	£
Thisisstatedaftercharging/(crediting):
Staffcosts(note9)	493,207	415,488
Auditor'sremuneration(includingVAT):
-Statutoryauditfees
-Currentyear	12,750	12,000
-Prioryear	360
Depreciation	162,033	162,486

STAFFCOSTS
	Total	Total
	2024	2023
Staffcostsduringtheyearwereasfollows:
Wagesandsalaries	409,892	357,884
Socialsecuritycosts	26,772	21,165
Otherpensioncosts	18,572	12,240
	455,236	391,289
Agencystaff	37,971	24,199
	£493,207	£415,488

enefits)duringtheyear(2023—none). heaveragenumberofemployees,analysedbyfunction,was:
	2024	2023
	No.	No.
SupportofmembersoftheCongregationandtheirministry	17.7	17.6
HeritageCentre	2.0	2.0
	19.7	19.6

TANGIBLE FIXEDA	SSETS
	Landand	Buildings	Heritage
			Centre	Furniture,
	Non-		and	Fittingsand	Motor
	specialised	Specialised	furniture	Equipment	vehicles	TOTAL
	£	£	£	£	£	£
Costorvaluation
At1July2023	1,640,270	3,320,620	1,261,037	99,203	51,900	6,373,030
Additions				4,522	15,630	20,152
Disposals	(113,015)				(17,650)	(130,665)
30June2024	1,527,255	3,320,620	1,261,037	103,725	49,880	6,262,517
Depreciation
At1July2023		1,142,911	754,171	96,381	51,897	2,045,360
Chargefortheyear		110,182	45,795	2,148	3,908	162,033
Eliminatedondisposal					(17,648)	(17,648)
30June2024		1,253,093	799,966	98,529	38,157	2,189,745
Netbookvalue
30June2024	£1,527,255	£2,067,527	£461,071	£5,196	£11,723	£4,072,772
30June2023	£1,640,270	£2,177,709	£506,866	£2,822	£3	£4,327,670

	Total	Total
	2024	2023
Listedinvestments
Marketvalueat30June2023	10,634,917	11,012,851
Additionsatcost		10,538,294
Disposalsatbookvalue(seebelow)	(522,515)	(10,826,923)
Netunrealisedinvestmentgains/(losses)	822,153	(89,305)
Marketvalueat30June2024	£10,934,555	£10,634,917
Costofassetsatyear-end	£10,020,527	£10,538,294
	Total	Total
	2024	2023
	£
Disposalsatbookvalueincludedabovearemadeupofthefollowing:
Proceeds	500,000	11,038,294
Losses/(gains)ondisposal	22,515	(211,371)
	£522,515	£10,826,923
Listedinvestmentsheldcomprisedthefollowing:
	Total	Total
	2024	2023
	£	£
CALFCatholicInvestmentIncomeFund	£10,934,555	£10,634,917

14	DEBTORS
		Total	Total
		2024	2023
	Investmentincomeandinterestreceivable	77,689	78,151
	Prepayments	17,294	31,525
	Legaciesreceivable(note1)		130,000
	Otherdebtors	8.167	10,000
		£103,150	£249,676
15	CREDITORS—Amountsfallingduewithinoneyear
		Total	Total
		2024	2023
		£	£
	Moniesadministeredonbehalfofindividualmembers
	oftheCongregation	20,140	13,477
	Donations	59,970	56,846
	Sundrycreditors	8,975	9,906
	Accrualsanddeferredincome	20,250	21,232
		£109,335	£101,461
16	CREDITORS—Amountsfallingdueafteroneyear
		Total	Total
		2024	2023
	Donationspayable	£-	£59,970

	Albania	HeritageCentre
	Fund	Fund	Total
	£	£	£
At1July2023	134,839	2,520,077	2,654,916
Income		18,909	18,909
Expenditure	(96,945)	(188,124)	(285,069)
At30June2024	£37,894	£2,350,862	£2,388,756

	Albania	HeritageCentre
	Fund	Fund	Total
	£	£	£
At1July2022	123,727	2,694,268	2,817,995
Income	30,080	6,553	36,633
Expenditure	(18,968)	(180,744)	(199,712)
At30June2023	£134,839	£2,520,077	£2,654,916

	Sisters'
	Retirement	Congregation
	Fund	GivingFund	Total
	£	£	£
At1July2023	4,700,000	2,147,462	6,847,462
Utilised/released		(185,550)	(185,550)
Designated
At30June2024	£4,700,000	£1,961,912	£6,661,912
	Sisters'
	Retirement	Congregation
	Fund	GivingFund	Total
	£	£	£
At1July2022	6,400,000	1,289,012	7,689,012
Utilised/released	(1,700,000)	(141,550)	(1,841,550)
Designated		1,000,000	1,000,000
At30June2023	£4,700,000	£2,147,462	£6,847,462

	Total	Total
	2024	2023
	£	£
At1July2023	2,739,054	2,795,953
Netmovementsinyear	(179,466)	(56,899)
At30June2024	£2,559,588	£2,739,054

	General	Tangible	Designated	Restricted
	funds	Fixed	funds	funds	Total
		Assetsfunds			2024
	£	£	£	£	£
Tangiblefixedassets		2,559,588		1,513,184	4,072,772
Investments	4,272,643	-	6,661,912	-	10,934,555
Netcurrentassets	216,861			875,572	1,092,433
Creditorsdueafteroneyear		-			-
Totalnetassets	£4,489,504	£2,559,588	£6,661,912	£2,388,756	£16,099,760

	General	Tangible	Designated	Restricted
	funds	Fixed	funds	funds	Total
		Assetsfunds			2023
	£	£	£	£	£
Tangiblefixedassets		2,739,054		1,588,616	4,327,670
Investments	3,787,455		6,847,462		10,634,917
Netcurrentassets	163,115			1,066,300	1,229,415
Creditorsdueafteroneyear	(59,970)				(59,970)
Totalnetassets	£3,890,600	£2,739,054	£6,847,462	£2,654,916	£16,132,032

	Total	Total
	2024	2023
	£	£
Unrealisedgains/(losses)oninvestments	£914,028	£96,623
Reconciliationofmovementsinunrealisedgains/(losses)
Unrealisedgainsat1July2023	96,623	(181,202)
Less:inrespectofdisposalsintheyear	(4,748)	367,130
Net(losses)/gainsarisingonrevaluationintheyear	822,153	(89,305)
Unrealisedgains/(losses)at30June2024	£914,028	£96,623