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2025-12-31-accounts

Franciscan Missionaries of Mary UK CIO

Annual Report and Accounts

31 December 2025

Charity Registration Number (England and Wales) 1199658

Contents

Reports
Reference and administrative details 1
Trustees’ report 2
Independent auditor’s report 32
Accounts
Statement of financial activities 36
Balance sheet 37
Statement of cash flows 38
Notes to the accounts 39

Franciscan Missionaries of Mary UK CIO

Reference and administrative details

Trustees Sister Loetitia Marie-Noelle Chevallier
Sister Helen Fennell
Sister Mary Fitzpatrick
Sister Alberta Forson
Sister Leontine Shannon
Sister Elzbieta Maria Walkowiak
Sister Hilde Vantomme
Regional Superior Sr Loetitia Marie-Noelle Chevallier
Sector Bursar Sister Helen Fennell
Sector/CIO Address 5 Vaughan Avenue
London
W6 0XS
Telephone 020 8748 4077
Website www.fmmuk.org
Independent auditors HaysMac LLP
10 Queen Street Place
London
EC4R 1AG
Principal bankers The Royal Bank of Scotland plc
London Corporate Service Centre
4th Floor, Devonshire Square
London
EC2M 4XJ
Investment managers L & P Financial Trustees Limited
Cantor Fitzgerald House
23 St Stephen’s Green
Dublin 2
D02 AR55
Ireland
Solicitors Stone King LLP
Upper Borough Court
3 Upper Borough Walls
Bath
BA1 1RG

Franciscan Missionaries of Mary UK CIO 1

Trustees’ report 31 December 2025

The trustees present the report and accounts of Franciscan Missionaries of Mary UK CIO, a Charitable Incorporated Organisation (CIO) (“the charity or “the CIO”) for the year ending 31 December 2025.

The accounts have been prepared in accordance with the accounting policies set out on pages 39 to 45 of the attached accounts and comply with the charity’s Constitution, the Charities Act 2011 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 the Republic of Ireland (Charities SORP FRS 102).

An introduction to the Franciscan Missionaries of Mary

Who are we?

The Institute of the Franciscan Missionaries of Mary (FMM) (the Institute), founded by Blessed Mary of the Passion, (Helene de Chappotin), in 1877, is an international Roman Catholic Institute of Religious Sisters working and living in 71 countries worldwide. We number 4,686 sisters coming from 75 nationalities.

Sisters gathered in Rome for Regional Assembly July 2024

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Trustees’ report 31 December 2025

An introduction to the Franciscan Missionaries of Mary (continued)

Who are we? (continued)

Rooted in our love for Christ we live our lives in fidelity to the Gospel and in service to the Church and the world especially to those in most need giving attention to the poorest and most abandoned.

We do this through very practical work for the poor, the sick, the lonely and the underprivileged wherever we are, always bringing those we serve to the Lord in prayer, in this way fulfilling the Church’s universal call to mission.

Coming from different backgrounds and cultures, we choose to answer the same call and to live together in intercultural communities as a sign of community and reconciliation and a witness to unity in diversity .

As women of faith, we live a life of contemplation and action, indeed, it is in welcoming His presence that our lives become prayer. The Eucharist is the centre of our lives, and it is there we draw strength to live our mission: it is the Lord who sends us and it is He whom we recognize in our brothers and sisters.

Every FMM draws her inspiration from Mary of Nazareth a woman filled with God’s spirit and open to the needs of others, and from St Francis of Assisi who inspires us to become “living Gospels in the midst of the world, following in the steps of the poor and humble Christ”.

Our Religious Institute was founded for MISSION, and every FMM must be ready to be “sent” on mission wherever that takes her. In a spirit of obedience, she must be prepared to leave the familiar and go to those to whom she is sent open to receive as much as to give. Like Christ she is ready to approach everyone with a humble heart, and to accept them as brothers and sisters.

Where are we?

The Generalate of the Franciscan Missionaries of Mary is in Rome. From this centre we span the globe where we form Regions led by a Regional Superior and her council who sustain both the unity and diversity of our mission and ministries. A Region is a country or group of countries, where FMMs live and work. Regions develop their own forms of ministry in response to the local needs and evaluate them every three years at their Regional Chapter where they draw up their Regional Plan setting out their priorities for the coming years.

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Trustees’ report 31 December 2025

An introduction to the Franciscan Missionaries of Mary (continued)

Where are we? (continued)

Here in the UK, we are part of the Region of North-West Europe. This comprises the countries of France, Belgium, Netherlands, UK, Ireland, and Malta. We are still in the very early years of this transition, but we are learning to work together and to appreciate the many calls of mission in this part of Europe and always mindful of our brothers and sisters uprooted from their homelands and forced to flee; the suffering of the planet, and, other emerging realities which call us to respond.

Our leadership team are (from right to left): Sr Loetitia Chevallier (Regional Superior), Sr Alberta Forson (Regional Councillor), Sr Elzbieta Walkowiak (Regional Councillor) and Sr Mary Fitzpatrick (Regional Councillor).

Franciscan Missionaries of Mary - United Kingdom

The accounts accompanying this report are the accounts of the CIO on which the assets of the Congregation in England and Wales are held.

From its first beginnings in the UK in 1887 the Franciscan Missionaries of Mary are now present in four communities in England.

As of 31/12/2025 No. of communities No. of sisters No. of nationalities
England 4 37 9

In 2025 we closed two houses: one at Royston Road, Glasgow, which was our last house in Scotland, and our house in March, Cambridgeshire.

During 2025 six sisters died at Canning Town, London, at our care community for our sick and elderly sisters. One sister continues to reside outside of community caring for a family member.

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Trustees’ report 31 December 2025

An introduction to the Franciscan Missionaries of Mary (continued)

Mission

The Constitution of the CIO states:

(1) The object of the CIO is for such charitable purposes which advance the religious and other charitable work carried on by or under the direction of the Institute as the Trustees with the approval of the Regional Superior shall from time to time think fit and if at any time the Institute shall cease to exist or shall cease to carry on or direct any such lawful charitable work then for such lawful charitable purposes connected with the advancement of the Roman Catholic religion as the Trustees shall decide.

(2) Nothing in this constitution shall authorise an application of the property of the CIO for the purposes which are not charitable in accordance with section 7 of the Charities and Trustee Investment (Scotland) Act 2005 and section 2 of the Charities Act (Northern Ireland) 2008.

The mission of the CIO also includes the care of all members of the Institute throughout their lives with the Institute.

When setting the objectives and planning the work of the charity for the year, which involves the individual ministries of sisters, the trustees have given careful consideration to the Charity Commission’s guidance on public benefit.

Our mission commits us “to the service of life and the care of creation” and in so doing we seek to express God’s compassion for our world and especially for the poor and the sick and those whom society overlooks, to this end, we give priority to service that values and promotes the growth of the human person.

Still in the early years of the new Region the leadership team are careful to build up community life and to this end community houses have been closed, and sisters have been reassigned to strengthen community life elsewhere. In 2025 we closed our community at 1245 Royston Road, Glasgow, this property was sold in April 2025. We also sold our property at 11 Princes Walk in March, Cambridgeshire. This house was being kept for mission outreach from two of the London communities, however, as we could not continue this mission, we were obliged to close this mission. The property was sold in August 2025.

In fulfilling our commitment to the objectives of the CIO, and responding to public need, the ministries of the sisters fall broadly into the following categories:

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Trustees’ report 31 December 2025

Activities, specific objectives, and relevant policies

Worship and prayer

Our religious constitutions state: “that prayer strengthens our missionary thrust and that like Mary we are attentive to the Word and open to the needs of others so as to bring them to her Son”. To live this fully our prayer life needs time and the rhythm of silence and communal prayer, and the sustenance of the sacraments. In each community our day is structured around prayer:

Every sister participates in the prayer life of the community, bringing to God the world in all its needs and receiving there the strength to go out and become “a living gospel in the world”. Our elderly sisters live this mission in a more intense way. Having completed their life of active service they give a greater time to prayer and in a particular way they pray for the world and for all the requests for prayer which come through our website www.fmm.org. This mission brings them great joy and keeps them united with the wider mission of the sisters and the church.

Beyond the community many sisters are engaged in the prayer life of their local communities through:

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Trustees’ report 31 December 2025

Activities, specific objectives, and relevant policies (continued)

Worship and Prayer (continued)

All of our communities’ welcome people into our community chapels for times of silent prayer and meditation, or sometimes small groups will come to find a quiet place where they can encounter God in the midst of their busy lives.

Most communities are engaged with their local parishes,

supporting many of their organisations and ministries from participation in the Alpha programme, RCIA, Catechesis, Ministry of the Eucharist to supporting local branches of the Legion of Mary, or SVP and in some parishes making our houses available for group meetings and times of prayer. Family days, young adult days, older adult days – all are welcome! There is room for everyone even Mum’s with their toddlers – having completed the school drop off are grateful to find a welcome space of silence amid their very busy lives.

One sister supports a group who have chosen to come together to deepen and strengthen their prayer life and to take time to allow the word of God to challenge them in their daily living of the gospels. They do this through Lectio Divina based on the next Sunday’s gospel. Other sisters have similar ministries to immigrant communities coming from their own countries of origin. They support these new Christian communities in liturgy and the preparation of children and adults for the sacraments.

There are several sisters engaged in Spiritual accompaniment with individuals and groups. They assure the ongoing accompaniment of individuals and also the preparation of retreats for groups either for IGR (Individually Guided) Retreats or preached/shared retreats. The number of sisters engaged in this ministry are seven. These sisters have all received specific training for this ministry.

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Trustees’ report 31 December 2025

Activities, specific objectives, and relevant policies (continued)

Caring for members of the Institute

With an ageing membership the care of our sick, frail and elderly sisters is a mission priority for us here in the UK. The demographics for the UK demonstrate this well:

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The Trustees have a duty of care to ensure that our sisters in their older years receive the care and support they need to live out their lives in peace and security as members of our religious community. It is important to remember that during their active years these sisters served both here in the home mission of the UK as well as overseas. Of the present group of sisters receiving care at Canning Town have served in eleven countries around the world in areas such as health care, education, social work and pastoral activities.

St Margaret’s Convent, Canning Town was one of the first houses in the UK and the first in London serving the people of the East End of London since 1897. It has been a long and beautiful history of belonging. St Helen’s RC Primary School, Canning Town was founded by our sisters and later handed over to the Diocese of Brentwood where to this day it continues to offer primary education to the young people of the area. Alongside the care of our elderly sisters some of the active sisters are engaged in both social and pastoral work locally through catechesis, parish visiting and involvement in the liturgical life of the local church.

St Margarets Church CT

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Trustees’ report 31 December 2025

Activities, specific objectives, and relevant policies (continued)

Caring for members of the Institute (continued)

The old convent at Canning Town was replaced by a purpose-built facility in the early 2000’s for the care for our frail and elderly sisters in the UK. This was further enlarged in 2023 due to the everincreasing number of elderly sisters needing some level of care, from full nursing care to more independent living with a little supervision! There is a core group of five active sisters, and the house is big enough to provide accommodation to visiting family members.

We employ a full team of care and home staff to provide for the needs of our sisters. At present we have 24 members of staff.

In fulfilling their duty of care to our elderly sisters and in assuring the highest possible care and a safe environment the Trustees aims are as follows:

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Trustees’ report 31 December 2025

Activities, specific objectives, and relevant policies (continued)

Caring for members of the Institute (continued)

Achievements:

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Trustees’ report 31 December 2025

Activities, specific objectives, and relevant policies (continued)

Social and pastoral work

The objectives of the CIO commit it to “ such charitable purposes which advance the religious and other charitable work carried on by or under the direction of the Institute”. Social and pastoral activities are where the active individual members of the Institute live out their missionary vocation.

In fulfilling these objectives of the CIO the Trustees’ ensure the well-being and support of all its members so that they might:

Most of the activities that sisters are engaged with are in the area of social and pastoral work. Their ministries fall broadly into the following categories, many of them being carried out in the voluntary sector:

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Activities, specific objectives, and relevant policies (continued)

Social and pastoral work (continued)

Chaplaincy work in hospitals and prisons

Two sisters work as hospital chaplains in two of London’s busy hospitals. Their work brings them into contact with patients and their families at some of the most difficult times of their lives. One works on a remunerated part-time basis, and one works as a volunteer as part of the chaplaincy team. Their work involves visits to all patients no matter what their faith backgrounds, the most important aspect of their ministry is to listen to patients and offer them some support and comfort. Where Catholic patients request Holy Communion they arrange this for them, and should they request other sacraments they make the necessary arrangements. But this work does not stop with patients, there is also a need to minister to the nursing staff and other care workers and provide them an opportunity to share together and have a time of prayer. A gentle presence and listening ear are integral to this work.

One of our communities has a specific outreach to a High Security Prison located close to them. One sister volunteers on a regular part-time basis (four days per week). Her work is quite demanding as she can be called on when a prisoner has had a bereavement or requests

The community with other members of the chaplaincy team

to see her. She participates as part of the chaplaincy team, preparing prisoners for the sacraments, accompanying them in their grief, and, supporting them as they face their often broken lives. A number of sisters in the community go to help with the weekly celebration of mass, bible study and to support the initiatives of the chaplaincy. Together with the whole multi-faith team, they work with officers and various support organisations like Change for good, Forward trust etc... to assure the wellbeing of prisoners.

Working in the Voluntary Sector:

“God’s heart has a special place for the poor, so much so that he himself “became poor” (2 Cor 8:9) [Evangelii Gaudium]. Pope Francis goes on to say: “I want a Church that is poor and for the poor …. we are called to find Christ in them and to lend our voice to their causes….(for) none of us can think we are exempt from concern for the poor and for social justice.” As he says elsewhere we are called “to leave this earth somehow better than we found it… [for]the earth is our common home and all of us are brothers and sisters.” Our own FMM constitution commits us to give priority to the poor and marginalised and to work for their human dignity and liberty.

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Activities, specific objectives, and relevant policies (continued)

Social and pastoral work (continued)

In fulfilling the charitable purposes of the CIO our sisters are engaged in the voluntary sector working in such areas as the alleviation of poverty, with migrants and refugees, with the bereaved, the homeless, indeed the list is endless. Some of these activities include:

• Street Angels and Night Stars

Walking among the vulnerable on the streets between the hours of 10pm and 4am are teams

of volunteers whose mission is to help those in need and keep them safe. Street Angels is a local group set up in Putney. They help people to return home safely especially vulnerable women offering support to anyone they find distressed or upset, they try to ensure a good night out remains one, and ensuring escalating situations are diffused. One of our sisters who volunteers with them says: ‘I have seen difficult

situations, which put young people in danger, and I know that our presence really helps. I have met wonderful volunteers from different backgrounds and religions, dedicated to helping others. I have learnt a lot from them.’

Similar to the work of the Street Angels is a project called Night Stars where one of our sisters’ volunteers. They work in the City of Westminster, and their main focus is to assure women’s safety and assist those who are vulnerable while out at night. They will often wait with women whilst waiting for transport home or try to reconnect them with their friends. They can provide a safe place should that be needed. They work closely with the police and ambulance services helping to reduce the demand and pressure on the emergency services at night by supporting vulnerable intoxicated people. Their presence on the streets is very visible and that in itself is a deterrent for anti-social behaviour and crime. Volunteers work between 7pm and 4.30am. It’s a demanding work but one that is making a significant contribution to keeping vulnerable people and visitors safe on our streets.

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Activities, specific objectives, and relevant policies (continued)

Social and pastoral work (continued)

• Working with victims of trafficking

Pope Francis urged everyone to take action to combat human trafficking. "Let us pray fervently and work proactively for this cause, the defence of human dignity." He went on to encourage all efforts to respond to the scourge, following the example of St. Bakhita, to mobilize all our resources in combatting trafficking and restoring full dignity to those who have been its victims,". He also had these sobering comments, "If we close our eyes and ears, if we do nothing, we will be guilty of complicity."

Some sisters work on an ad hoc volunteer basis with organisations who support women who have been trafficked. This work involves working with women who are being supported in Safe Houses, assisting them with translations or appointments.

Parish and other Pastoral Work

In all our communities’ sisters are involved in pastoral work in their local parishes. This work includes:

Home visits to the sick and housebound

Some of our communities have sisters engaged in the ministry of visiting the sick and housebound to bring them the word of God and Holy Communion and very importantly human interaction and connection. Some sisters take communion to the elderly in Care Homes, or visit them through organisation like SVP – with so many elderly and housebound struggling with a loss of independence and an ever-increasing sense of isolation, these visits are a life-line and for this reason these visits are vital not simply to keep them connected to the wider community and their local faith community, but to reinforce a sense of who they are and the fact that someone cares. This ministry is a gift and a life-line to so many housebound.

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Activities, specific objectives, and relevant policies (continued)

Social and pastoral work (continued)

Involvement in the liturgical life of the parish

Many sisters are involved in the daily life of their local parishes as: Ministers of the Word and Eucharist, members of the choir, and help with the celebrations of special occasions in the life of the parish such as prayer services for Christian Unity Week, Lent and Advent prayer groups, remembrance masses for deceased parishioners etc., and for some it involves being members of their local parish councils.

Living in multicultural communities we FMM have sisters from many parts of the world who alongside involvement in their local parish communities are also involved with some of the

international chaplaincies reaching out to the immigrant communities that now call the UK home. They support the Church in meeting the pastoral needs of their own people, through preparation of the liturgy, catechesis in preparation for the reception of the sacraments, and being a support to enable these communities to negotiate the change from their country of origin to being part of a new reality and society with all that that entails. Our Vietnamese sisters for example although based in London work alongside Vietnamese priests in London, Reading and Birmingham bringing the faith

to their own people and walking with them through the challenges of integrating into life here. As Pope Francis said: “The arrival of those who are different, coming from other ways of life and cultures, can be a gift…for the communities and societies to which they come.”

Catechesis

Many sisters are involved in catechesis especially with adults and young people. Through sharing the faith they seek to lead people to an ever-deeper relationship with God. This initial catechesis is the beginning of what will become a lifelong journey of faith which will be supported in their local communities by participation in the liturgy of the Church and a life of prayer.

RCIA (the rite of Christian Initiation of Adults) is a programme that can take one to two years to prepare for and culminates at the Easter Vigil mass when they are formally welcomed as full members into the Christian community through the reception of the sacraments of baptism, confirmation and holy communion.

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Activities, specific objectives, and relevant policies (continued)

Social and pastoral work (continue)

Our community in Brixton have a special outreach to young adults. They have been organising days of prayer for young adults in the community, usually focusing on the liturgical seasons of the year: Advent and Lent. These days have been well received and among those who have attended there has been a request to continue them. These days are an invitation to young people to see where God is active in their lives through times of input and sharing and times dedicated to prayer and especially prayer before the blessed sacrament. Of course, they culminate in a shared meal with a lot of laughter and sharing of life stories.

Some sisters have attended training in the Alpha programme and are now accompanying parish groups who run similar courses such as the Sycamore programme designed to help Catholic’s explore their faith, through short films followed by times for discussion. Working alongside other leaders we have four sisters who are involved in this ministry.

Spiritual Accompaniment

Spiritual accompaniment is about walking beside another person in their search for God in their lives, through prayer and reflection and by turning to the scriptures they discover the imprint of God in their own lives, in those

around them and in the world. Many of our sisters are formally trained in this area and offer spiritual accompaniment to individuals on an ongoing basis or for a specific time of “retreat”, as well as to groups such as parish social groups and prayer groups. Our sisters in Putney have welcomed people to their home for individually guided retreats, and all of our

houses have welcomed groups for days of prayer. We have eight sisters who are actively engaged in this ministry, many times people come to them for spiritual accompaniment but also working and as part of a parish team offering a week’s retreat to parishioners – these take place in the parish with participants meeting up together at the beginning and end of the retreat but having individual sessions with their directors/accompaniers. These parish retreats offer busy people: Mums, Dads, young adults the opportunity to grow in their relationship with God in a way that can fit in with their busy life commitments.

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Activities, specific objectives, and relevant policies (continued)

Social and pastoral work (continued)

Education faith and spirituality

We have one sister in Putney who has been working with another congregation in offering formation programmes to their sisters on Tertianship programmes. This work has taken her beyond the UK to other parts of Europe.

Although not engaged in formal education there are sisters working with young people and adults in the whole area of faith formation.

Counselling

One sister works part-time as a psychotherapist in one of London’s high security prisons. This is quite a demanding work, but she still finds time to work with Dioceses and other religious communities by providing tailored psychological evaluations including assessments of their candidates for priesthood, deaconate and entry to religious life.

One other sister who is currently completing a master’s degrees in counselling and psychotherapy is engaged in counselling with other organisations under supervision as part of her training. On completion of her course, the plan is to continue this work on a remunerated basis.

FMM Formation Sessions

As an international congregation we have chosen to use English as the official language of the Institute, it replaces French which until now has been our first language. This change has brought about the need to ensure our sisters gain both and knowledge and a proficiency in English. Thanks to zoom and so many other online platforms it is possible to accompany sisters all over the globe, and we have a number of sisters who meet regularly with groups of FMM from Vietnam, North Africa, Senegal, Burkina Faso and Togo, parts of the Middle East and some European countries to assist with the learning of English. This is a wonderful mission for our sisters who are now retired from full-time teaching posts and for those who are trained in TEFL or some other equivalent qualification.

Of course, our communities are open to sisters coming for shorter or longer courses of English studies here in the UK where they have the advantage of being in an Englishspeaking community and so have plenty of opportunity to practice their new language skills. In 2025 five sisters from overseas came to study English here in the UK.

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Activities, specific objectives, and relevant policies (continued)

Social and pastoral work (continued)

Formation for our own sisters based on the writings of our foundress and the charism she gave us are ongoing, and we have one sister who having received a specific training in this area is engaged in this work both here in the UK and indeed in other parts of the world. Sessions are held monthly for the sisters in the London area and for sisters overseas she gives zoom sessions. In 2025 she gave a formation session near Lublin, Poland, to thirty FMM sisters from all around the world. She also travelled to Australia for charism sessions.

Communications

In fulfilling the objective to advance the religious and other charitable work carried on by or under the direction of the Institute our Communications team and Mission Appeal team give this a specific focus in their ministry.

This year the communications team produced their magazine Journeying Together. This magazine is for free distribution to our friends and benefactors and for sharing with parishioners when we go to do the mission appeal in Churches.

There are interesting contributions from sisters in the Region and those working in various missions around the world, and it offers readers an insight into the work of the FMM.

Website

The communications team is also responsible for the website which may be found at www.fmmuk.org. There is a prayer request page where anyone can request prayers, which are then sent on to our sisters in our care communities where they are remembered daily in prayer. This is a beautiful mission for our older sisters who are so happy to be involved.

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Trustees’ report 31 December 2025

Activities, specific objectives, and relevant policies (continued)

Mission Appeal

Every year our sisters take part in Mission Appeal/Awareness in various parishes of the Catholic Church around the country. These appeals are organised through the Sisters Mission Committee in England and Wales and in association with Missio in Scotland.

In 2025 the sisters visited parishes in the Diocese of Northampton.

Grants and donations

Money collected from mission appeals is sent to our Generalate in Rome and distributed to various parts of the world where are sisters have projects for the poor and underprivileged.

Whilst the trustees give occasional support to organisations in the United Kingdom whose work is within the objects of the CIO, the charity does not regard itself as a grant making entity and applications for grants and donations are not invited.

Investment policy

During the year, the charity’s investments were managed by L & P Cantor Fitzgerald. There are no restrictions on the charity’s power to invest.

The investment strategy is set by the trustees and takes into account income requirements, the risk profile and the investment managers’ views of the market prospects in the medium term.

The policy aims to maximise total return through a diversified portfolio whilst providing a level of income advised by the trustees from time to time. There is an Ethical Policy precluding investment in any company, which, after reasonable enquiry, clearly has significant profits from an activity which is contrary to the objectives of the Catholic Church.

The performance of the portfolio and the charity’s investment strategy are reviewed by the trustees who meet with the investment managers yearly.

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Fundraising policy

The charity aims to achieve best practice in the way in which it communicates with donors and other supporters. The charity takes care with both the tone of its communications and the accuracy of its data to minimise the pressures on supporters. It applies best practice to protect supporters’ data and never sells data, it never swaps data and ensures that communication preferences can be changed at any time. The charity manages its own fundraising activities and does not employ the services of professional fundraisers. The charity undertakes to react to and investigate any complaints regarding its fundraising activities and to learn from them and improve its service. During the period, the charity received no complaints about its fundraising activities.

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Trustees' Report 31 December 2025

Financial review

Results for the year

A summary of the year’s results can be found on page 6 of the attached accounts.

Total income amounted to £2,406,281 (2024: £6,217,799). Salaries and pensions of members of the Institute which are covenanted to the charity were £346,469 (2024: £395,923). Included within donations and legacies are donations receivable of £1,664,343 (2024: £2,273,474) from the Institute’s Generalate.

Other income amounted to £347,109 (2024: £269,017) which included a surplus on the disposal of tangible fixed assets of £293,813 (2024: £231,238) and a foreign exchange gain of £36,640 (2024: 33,568).

Expenditure totalled £2,755,110 (2024: £5,904,441) and can be divided into various categories. Expenditure relating to maintaining the members of the Institute and supporting them in their pastoral work and ministry was £1,555,858 (2024: £1,580,843). Of the total donations given during the year of £1,192,354 (2024: £4,316,639), £646,017 (2024: £3,285,214) was given to the Institute’s Generalate for the work of the charity worldwide. A further £540,667 (2024: £1,011,287) was given directly to overseas missions.

The net expenditure for the year before investment losses totalled £348,829 (2024: net income of £313,358). Net investment losses totalled £14,385 (2024: £50,534). After accounting for net investment losses, the net decrease in funds for the year amounted to £363,214 (2024: net increase in funds of £262,824).

Investment performance

The investment policy is generally risk averse with the objective of generating a return of 3% per annum. The risk policy of the investments will be a low/medium and, in order to satisfy the requirements, investments normally comprise of UK leading companies, unit and investment trusts (including those investing in major international markets), and in fixed interest securities.

The performance of the portfolio and the charity’s investment strategy have been reviewed by the trustees who have met regularly with the investment managers.

The policy of the charity is to achieve a combination of income and capital growth within acceptable levels of risk. The trustees of the charity continue to take a long-term view and believe the investment policy continues to be appropriate.

Further details about investments are provided in note 12 to the accounts.

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Trustees' Report 31 December 2025

Financial Review (continued)

Reserves policy and financial position

Reserves policy

Financial position

The balance sheet shows total funds of £8,359,302 at 31 December 2025 (2024: £8,722,516).

Of this £6,474,883 (2024: £6,971,254) represents the net book value of the charity’s tangible fixed assets and an equivalent amount has been designated as a tangible fixed assets fund in recognition of the fact that the assets are required for the charity’s operations and are not available as a reserve to fund activities or meet future contingencies.

Amounts totalling £1,884,423 (2024: £1,750,662) are funds which are available as free reserves i.e. those unrestricted funds not designated for specific purposes or otherwise committed, are shown on the balance sheet as general funds.

There are no restricted funds at the end of the year.

It is the trustees’ aim to ensure that sufficient funds are generated to be able to provide a proper level of care for sisters of all ages as they need it. The trustees consider that the level of free reserves is adequate but not excessive and will enable them to care for their elderly sisters as well as pursue successfully their charitable objectives.

Future plans

The newly constituted Region of North West Europe comprising the countries of France, Belgium, Netherlands, Faroe Islands, UK, Ireland and Malta is still in a time of transition, and during this time the new Regional Leadership Team are getting to know the Region better, taking time to upskill in language proficiency and getting to know the sisters of the Region.

There continues to be an emphasis to:

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Trustees' Report 31 December 2025

Future plans (continued)

Governance, structure, and management

Governance

In accordance with Canon law the Institute is governed by the Superior General, along with the General Council. They are elected during the General Chapter which takes place every six years and is the organ that expresses collegiality on the Institute level, and as such it has supreme authority when in session. The mandate of the Superior General and her Council is six years renewable once. The present leadership team were elected in 2022.

The Franciscan Missionaries of Mary in the UK are part of the Region of North West Europe. Our new Region is governed by the Regional Superior with her Council of three sisters all drawn from different parts of the Region. The nomination of sisters for these positions was made by the Superior General and her Council after a consultation ballot in the respective provinces. The mandate of the new team is, for the Regional Superior six years, nonrenewable, and for the Regional Councillors four years renewable once.

The financial structure has also changed to reflect this new reality. We now have a Regional Treasurer who is nominated by the Superior General and two Sector Treasurers who continue to carry out the functions of the old provincial bursars. The Regional Treasurer liaises directly with the General Treasurer in Rome for all financial matters of the Region.

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Trustees' Report 31 December 2025

Governance, structure and management (continued)

At the local level each community is governed by a local superior, who is appointed by the Regional after consultation with her Council and the community concerned.

The Regional Superior, Sr Loetitia Chevallier, visits each community at least once a year spending time to get to know the sisters and their ministries. Throughout the year there is a system of accountability to ensure that the Regional and her Council are aware of the progress and development of the ministries carried out by the sisters in the Region. The Enlarged Regional Council which takes place once a year provides an opportunity to review the mission and set the vision in line with the decisions made at the preceding Regional Chapter. This meeting is attended by all the local community superiors and the ex-officio members of the Region. The Regional Chapter takes place every three years, with the first set to take place in Paris in July 2026.

In terms of Civil law, the CIO is governed by a constitution dated 14 July 2022 that clearly sets out its objectives. It is a registered charity in England and Wales with the registered number: 1199658. The Trustees of the CIO are the Regional Superior, the Regional Treasurer, the Sector Treasurer for the UK, and all other Trustees are appointed by the Regional Superior these include the three sisters of the Regional Council and one other sister resident in the UK. All trustees are members of the Institute and have a detailed knowledge of the work of the charity and its structure. To support them in the carrying out of their responsibilities they meet with the Institute’s legal, accounting, investment and property advisers who provide them with a full briefing of their responsibilities and the charity’s position. A brief biography of each one is set out below:

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Trustees' Report 31 December 2025

Governance, structure, and management (continued)

Sr Loetitia Chevallier – Regional Superior

Sister Loetitia Chevallier is from Paris, France and entered the Institute of the Franciscan Missionaries of Mary in 1994. She is qualified in international trade. After the noviciate she graduated with a BA in Theology. She spent 12 years on mission in Hungary, where she worked with the Jesuits in a spiritual centre and trained in psychology. After returning to the Province of France she served as the Provincial Bursar. In 2022 she became provincial of France, Belgium, Netherland, and France. From 31 October 2023 she now serves as the Regional Superior of the NW Europe Region.

Sr Mary Fitzpatrick – Provincial Councillor/ Regional Councillor

Sister Mary Fitzpatrick joined the Franciscan Missionaries of Mary in Dublin in September 1975 and over the years has worked in various ministries both within the Institute and the wider community, e.g., teaching, provincial bursar, community bursar and parish visiting. She spent eleven years in South Africa and after qualifying as a teacher of Economics she taught in a High School in SOWETO. She is also involved in parish ministry and is the Safeguarding Lead for the Franciscan Missionaries of Mary in England & Wales. She was nominated a Regional Councillor from 31 October 2023.

Sr Helen Fennell – Provincial Bursar/ Sector Bursar

Sister Helen Fennell is from Dublin, Ireland and entered the Institute of the Franciscan Missionaries of Mary in October 1980 in Canterbury. She is a qualified nurse and spent 13 years on mission in Ethiopia, where she worked as a nurse and then as Hospital Administrator in our rural hospital a position she held for 10 years. After returning to the Province of UK, Ireland and Malta she then graduated with a BA in Theology and a Higher diploma in adult religious education. She has worked in adult faith formation, youth retreat work and vocations promotion for the Province. She served as the Provincial Bursar from 31 October 2018 until 31 October 2023 and now continues her service as Sector Bursar for UK, Ireland and Malta.

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Trustees' Report 31 December 2025

Governance, structure, and management (continued)

Sr Hilde Vantomme – Regional Treasurer

Sister Hilde Maria Vantomme is from Belgium. She entered the Institute of the Franciscan Missionaries of Mary in September 1982 in Gooreind (Belgium). She is a qualified teacher in Theology and spent 13 years on mission in Senegal, where she was engaged in the initial formation for our own congregation and inter-noviciate. After returning to the Province of Belgium, Holland, and Faroe Islands, she was nominated provincial Bursar FMM and also works as an intendant in the Brussels church. She was nominated Regional Treasurer for the North West Europe Region taking over this role from 31 October 2023.

Sr Elzbieta Walkowiak – Regional Councillor

Sister Elzbieta Walkowiak was born in Poland. In 1984 she entered the Institute of Franciscan Missionaries of Mary in Warsaw, Poland. In 1993 she was sent to France. After studying the French language in Bordeaux, she trained as a pastoral animator in Lille. For several years she worked in pastoral care with adolescents. Then, for 3 years she was a hospital chaplain in Lyon. In 2016 she was appointed local animator of the Châtelets community and then in 2020 local animator of the Paris community. She began her mandate as Regional Councillor on 31 October 2023.

Sr Alberta Forson – Regional Councillor

Originally from Ghana Sr Alberta was missioned to the UK in 1999 and has served here ever since. Whilst in Ghana she worked in the St. Clarie’s Vocational Institute where she held administrative responsibilities and taught religious education to students. While in the UK she completed a Pastoral Theology Diploma while working voluntarily with Asylum seekers and in pastoral work at St Winefred’s Parish in Wimbledon. In 2005 she was transferred to Scotland and during her time there completed her BA in Social Studies at the University of West of Scotland, Paisley, and obtained a HNC in Social Care. She worked in a Care Home for some time and was very active in mission appeal in Scotland. She returned to London in 2018 to take over as the sister in charge of our elderly and frail sisters at Canning Town which she held until her appointment as Regional Councillor which she began on 31 October 2023.

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Trustees' Report 31 December 2025

Governance, structure, and management (continued)

Governance (continued)

Sr Leontine Shannon

Sister Leontine entered the novitiate at Cold Ash in 1970. Her first mission sending was to

the province of South Africa where she taught Physical Education at Glenmore School in Durban and did pastoral work in the Indian parish of Chatsworth. After final vows she was sent to Mauritius where she worked with youth and in parishes and was on the National Team of the Girl Guides. During this time, she trained in spiritual direction in the Ignatian school of spirituality. She was also on the Diocesan Vocations Team and worked in formation within the Institute and at Diocesan level. Following her return to the UK she worked at the French chaplaincy in Leicester Square responsible for catechesis at all levels, and she also worked in various parish groups and in retreat work. She has lived in a number of different communities in the UK and is now assigned at Vaughan Avenue in London.

Key management personnel

The trustees are the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. All the trustees are members of the Institute and whilst their living and personal expenses are borne by the charity, they receive no remuneration or reimbursement of expenses.

Statement of trustees’ responsibilities

The trustees are responsible for preparing the trustees' report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period.

In preparing these accounts, the trustees are required to:

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Trustees' Report 31 December 2025

Governance, structure, and management (continued)

The trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity’s transactions with reasonable accuracy and disclose at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the relevant Charity (Accounts and Reports) Regulations, and the provisions of the charity’s trust deed. 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.

Structure and management reporting

The trustees are ultimately responsible for the policies, activities, and assets of the charity. They meet three/four times yearly to review developments regarding the charity and/or its activities and make any important decisions. When necessary, the trustees seek advice and support from the charity’s professional advisers including property consultants, investment managers, solicitors, and accountants. The day-to-day management of the charity’s activities, and the implementation of policies, is delegated to the appropriate members of the Institute or senior staff.

At the time of writing this report, there are 36 sisters in the British Sector of the Institute, living in four communities in the London area. The community houses serve the local communities where they are inserted.

Some of these areas are socially deprived and all of them multicultural. In keeping with our charism we ‘approach everyone with a humble heart, ready to learn and to receive as much as to give, with his attitude of respect, acceptance of persons, openness and service’ (const. FMM). Each community has a local superior appointed by the Regional. The local superior is responsible for both the needs and the care of the sisters in her community; she is the point of contact between the community and the Provincial.

Working with other organisations

The charity works closely with several other charities and public bodies in meeting the needs of the poor, vulnerable and elderly. In some instances, sisters are employed by these organisations, though for the most part they are engaged on a voluntary basis. In all cases, working together with other charities and public bodies ensures that the work can be done more effectively and efficiently and avoids any unnecessary duplication. Examples of some of the organisations for which members have worked and with which the charity has cooperated during the year are as follows:

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Trustees' Report 31 December 2025

Governance, structure, and management (continued)

Risk management

In line with the requirement for trustees to undertake a risk assessment exercise and report same in their annual report, the trustees have looked at the risks the charity faces currently in England, Wales and have reviewed the measures already in place, or needing to be put in place, to mitigate them.

The following main areas where risks may occur have been identified:

• Governance and management

The Regional Superior works closely with her team ensuring that responsibility and information regarding the charity is shared. This mitigates the risk of one key person holding all the responsibility and information for the charity. Management of key areas of the charity (care of the elderly sisters, finance) have been delegated to competent individuals who are accountable to and work closely with the trustees.

• Financial

The finance team comprising the Regional Treasurer, Sector Bursars and finance manager review the budgets and accounts and present financial information to the trustees on a regular basis.

• Properties

One of the principal financial assets of the charity is its properties. The Sector Bursar oversees the maintenance and management of properties in conjunction with advisers.

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Trustees' Report 31 December 2025

Risk management (continued)

An analysis of the age profile of the members of the Institute shows that the average age is seventy-seven years with 20 sisters aged 81 years and over (at the end of 2025). The trustees are aware that there is both a moral and legal obligation to care for their older members, none of whom have resources of their own. As the age profile increases, so too does the need to provide care for the sisters. Key elements of the management of this risk are: (a) ensuring that the CIO has the available financial resources to finance this care both now and in the years ahead by setting aside assets in a designated fund, the value of which has been based on actuarial principles; and (b) ensuring that processes are in place to regularly review the ministries and needs of individual sisters and to assure the appropriate identification of those needing extra care and help.

Safeguarding

Operationally the CIO works with vulnerable adults especially our own elderly sisters. They also work under the auspices of volunteer and pastoral organisations with children and young adults. The trustees recognise the absolute necessity of ensuring the protection and safety of all those that the charity serves. This means that sisters engaged in any ministry in the UK and all those who work or volunteer for the CIO and work with children or vulnerable adults must obtain clearance from the Disclosure and Barring Service (DBS). The trustees are committed fully to implementing the policies of the Catholic Safeguarding Standards Agency (CSSA) and the Religious Life Safeguarding Service (RLSS).

Our safeguarding officer is responsible for ensuring that our safeguarding policy reflects the current legal standards required and that all staff and volunteers are familiar with and have signed up to these policies, have their DBS checks in order and have received the necessary training in safeguarding. All sisters living in the UK must also sign up to these policies and complete DBS checks and keep themselves updated. The new Regional Council have assigned responsibility to one Councillor who together with a team of sisters working in different parts of the Region are responsible for on-going safeguarding training; updating of internal policies; and ensuring that sisters, staff, and volunteers are kept informed about good practice in the workplace and ministry.

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Trustees' Report 31 December 2025

Governance, structure, and management (continued)

The CIO makes significant donations in support of the wider Institute and sometimes to other organisations. Most donations sent overseas are to fund projects administered directly by members of the Institute. Whether or not the funds are used here in Great Britain or overseas, the trustees always ensure that they are fully informed and familiar with the work of a potential recipient of funds, that funds are transferred via bank transfer, that proof of receipt is obtained and that, wherever possible (and always in the case of monies sent overseas), a full written report of how the monies have been utilised and applied is obtained from the recipient.

Investments

One of the CIO’s assets comprises listed investments, the value of which is dependent on movements in UK and world stock markets. The investments are managed by reputable investment managers who adhere to an ethical policy agreed by the trustees. The manager's performance and that of the portfolio are monitored. The investment strategy is assessed regularly to ensure it remains appropriate to the charity's needs - both now and in the future. Whilst the macroeconomic and geopolitical climate gives rise to concerns over potential volatility in world stock markets, we acknowledge also that we are long term investors. As such, the charity will be able to wait for markets to stabilise over time whilst we as trustees keep a watching brief.

Employees, volunteers, and members of the Institute

The trustees wish to record their recognition of the professionalism and commitment of all their staff, volunteers, and the individual members of the Institute, without whom we would not be able to do the work we do. Their dedication and positive approach are very much appreciated.

Approved by the trustees and signed on their behalf by:

Trustee

Approved by the trustees on 21 July 2026

Franciscan Missionaries of Mary UK CIO 31

FRANCISCAN MISSIONARIES OF MARY UK CIO

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF FRANCISCAN MISSIONARIES OF MARY UK CIO

Opinion

We have audited the accounts of Franciscan Missionaries of Mary Charitable Trust UK CIO (the ‘charity’) for the year ended 31 December 2025, which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accounting policies and the notes to the accounts. 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 have been appointed as auditor under section 144 of the Charities Act 2011, and report in accordance with the Acts and relevant regulations made or having effect thereunder. 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.

Conclusions relating to going concern

In auditing the accounts, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the accounts 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 accounts 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.

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FRANCISCAN MISSIONARIES OF MARY UK CIO

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF FRANCISCAN MISSIONARIES OF MARY UK CIO (CONTINUED)

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report. Our opinion on the accounts does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the accounts or a material misstatement of the other information. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the accounts 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 accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, 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 charity or to cease operations, or have no realistic alternative but to do so.

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FRANCISCAN MISSIONARIES OF MARY UK CIO

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF FRANCISCAN MISSIONARIES OF MARY UK CIO (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the accounts 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 accounts.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Based on our understanding of the charity and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to compliance with Charity Law, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Canon Law, the Charities Act 2011, the Statement of Recommended Practice for Charities (SORP) and FRS102.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to management bias in certain accounting estimates. Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

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FRANCISCAN MISSIONARIES OF MARY UK CIO

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF FRANCISCAN MISSIONARIES OF MARY UK CIO (CONTINUED)

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and with regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity’s trustees 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

HaysMac LLP

Statutory Auditors

10 Queen Street Place

London

EC4R 1AG

Date: 22 July 2026

HaysMac LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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FRANCISCAN MISSIONARIES OF MARY UK CIO

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025

Note
Income from:
Donations and legacies
3
Other income:
Surplus on disposal of tangible fixed assets
Foreign exchange gain
Miscellaneous
Investments and interest receivable
4
Total income
Expenditure on:
Raising funds:
Investment managers’ fees
Charitable activities:
Donations
5
Support of members of the Institute and their ministry
6
Total expenditure
Net investment losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2025
£
2,010,812
293,813
36,640
16,656
48,360
2,406,281
6,898
1,192,354
1,555,858
2,755,110
(14,385)
(363,214)
8,722,516
8,359,302		 Total
funds
2025
£
2,010,812
293,813
36,640
16,656
48,360
2,406,281
6,898
1,192,354
1,555,858
2,755,110
(14,385)
(363,214)
8,722,516
8,359,302		 Total
funds
2024
£
5,904,944
231,238
33,568
4,211
43,838
6,217,799
6,959
4,316,639
1,580,843
5,904,441
(50,534)
262,824
8,459,692
8,722,516

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 39 to 55 form part of these financial statements.

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FRANCISCAN MISSIONARIES OF MARY UK CIO

BALANCE SHEET AS AT 31 DECEMBER 2025

Note
Fixed assets
Tangible assets
11
Investments
12
Current assets
Debtors
13
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
14
Net current assets
Total net assets
Charity funds
Unrestricted income funds
Designated funds - fixed assets fund
15
General funds
15
Total unrestricted funds
15
Total funds		 51,479
1,045,201
1,096,680
(491,293)
6,474,883
1,884,419		 2025
£
6,474,883
1,279,032
7,753,915
605,387
8,359,302
8,359,302
8,359,302		 109,423
1,572,766
1,682,189
(1,186,375)
6,971,854
1,750,662		 2024
£
6,971,854
1,254,848
8,226,702
495,814
8,722,516
8,722,516
8,722,516

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: ................................................ Sister Helen Fennell

Date: 21 July 2026

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FRANCISCAN MISSIONARIES OF MARY UK CIO

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025

Note
Cash flows from operating activities
Net cash used in operating activities
17
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from disposal of tangible fixed assets
Purchase of tangible fixed assets
Proceeds from disposal of investments
Purchase of listed investments
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
18		 2025
£
(1,130,894)
48,360
653,202
(59,664)
527,855
(660,925)
508,828
(622,066)
1,686,168
1,064,102		 2024
£
(170,209)
43,838
452,334
(43,001)
449,818
(422,515)
480,474
310,265
1,375,903
1,686,168

The notes on pages 39 to 55 form part of these financial statements

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. General information

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

2. Accounting policies

2.1 Basis of preparation

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The accounts have been prepared in accordance with 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 United Kingdom and Republic of Ireland (Charities SORP FRS 102) and the Charities Act 2011 and applicable Regulations.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in sterling and are rounded to the nearest pound.

2.2 Critical accounting estimates and areas of judgement

Preparation of the accounts requires the trustees to make significant judgements and estimates.

The items in the accounts where these judgements and estimates have been made include:

2.3 Assessment of going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of at least one year from the date of approval of these accounts.

With regard to the next accounting period, the year ending 31 December 2026, the most significant areas that may affect the carrying value of their assets are the level of investment return and the performance of the investment markets (see the investment policy section of the trustees’ report for more information).

The trustees of the charitable trust have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charitable trust to continue as a going concern. The trustees are of the opinion that the charitable trust will have sufficient resources to meet its liabilities as they fall due.

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. Accounting policies (continued)

2.4 Income recognition

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.

Income comprises donations and legacies, investment income and interest receivable, Retreat and Conference Centre income and other income including the surplus on the disposal of tangible fixed assets and foreign exchange gains.

Donations, including salaries and pensions of individual religious received under Gift Aid or deed of covenant, are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Donations of assets other than cash are included in the accounts at their fair value at the date of receipt.

In accordance with the Charities SORP FRS 102 volunteer time is not recognised.

Legacies are included in the statement of financial activities when the charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charity.

Entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title of the asset having being transferred to the charity.

Investment income is recognised once the dividend has been declared and notification has been received of the amount due.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Income from the operation of the charity’s Retreat and Conference Centre is recognised to the extent that it is probable that the economic benefits will flow to the charity and the revenue can be reliably measured. It is measured as the fair value of the consideration received or receivable excluding any relevant discounts.

A surplus on the disposal of tangible fixed assets is defined as the difference between the sale proceeds and the net book value of the asset at the time of disposal and after deducting any costs associated with the disposal. The surplus is recognised at the time when legal completion of the sale takes place.

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. Accounting policies (continued)

All other income is recognised to the extent that it is probable that the economic benefits will flow to the charity and the revenue can be measured reliably. It is measured at fair value and accounted for on an accruals basis.

2.5 Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. The majority of expenditure is directly attributable and any apportionment between headings is negligible. The classification between activities is as follows:

Expenditure is stated inclusive of irrecoverable VAT.

Support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of financial procedures, provision of office services and equipment.

Governance costs comprise the costs involving the public accountability of the charity (including audit costs) and costs in respect to its compliance with regulation and good practice.

All expenditure on support and governance is allocated to the charitable activities of care of members of the community and enabling their ministry as any costs in relation to provision of donations and grants or raising funds is considered to be minimal.

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. Accounting policies (continued)

2.6 Tangible fixed assets

All assets costing more than £1,500 with an expected useful life exceeding one year are capitalised.

• Freehold land and buildings

o Non-specialised property

Non-specialised buildings are those designed as, and used wholly or mainly for, private residential accommodation. Properties previously classified as investment properties are included at their market value immediately prior to reclassification. Others acquired prior to 1 January 1993 are included on the balance sheet at a valuation determined as at that date by the trustees with professional assistance and based on open market value for existing use. As permitted under FRS 102 these values are now the deemed cost of these land and buildings. Land and buildings purchased on or after 1 January 1993 are included at cost. Such buildings are not depreciated on the basis that the residual value is greater than the book value and any depreciation charge would not be material.

o Specialised property

Specialised buildings comprise the charity’s residential care homes for older or frail sisters, retreat houses and large residential convents. Those acquired prior to 1 January 1993 are included on the balance sheet at a valuation determined as at that date by the trustees with professional assistance and based on open market value for existing use. Land and buildings purchased on or after 1 January 1993 are included at cost.

Depreciation is provided at 2% per annum on a straight-line basis in order to write the buildings off over their estimated useful economic life to the charity.

• Furniture and equipment

Expenditure on the purchase and replacement of furniture and equipment is capitalised and depreciated over a five year period on a straight line basis.

• Motor vehicles

Motor vehicles are capitalised and depreciated over a five year period, on a straight line basis, in order to write off the cost of each vehicle over its estimated useful life.

An impairment review in respect to a particular class of assets is carried out if events, or changes in circumstances, indicate that the carrying amount of any tangible fixed asset may not be recoverable.

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. Accounting policies (continued)

2.7 Investments

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

As noted above the main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value is acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

2.8 Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

2.9 Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

2.10 Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

2.11 Fund structure

Restricted funds comprise monies raised for, or their use restricted to, a specific purpose, or contributions subject to donor imposed conditions.

The tangible fixed assets fund comprises the net book value of charity’s tangible fixed assets, excluding those assets representing, or belonging to, restricted or designated funds.

General funds represent those monies which are freely available for application towards achieving any charitable purpose that falls within the charity’s charitable objects.

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. Accounting policies (continued)

2.12 Services provided by members of the Institute

For the purposes of these accounts, no value has been placed on administrative and other services provided by the members of the Institute.

2.13 Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the net movement in funds.

2.14 Leased assets

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the statement of financial activities on a straight-line basis over the term of the lease.

2.15 Pensions

The charity offers its employees membership of a defined contribution pension scheme administered by the National Employment Savings Trust (NEST). Contributions to the scheme are debited to the statement of financial activities in the year in which they are payable to the scheme. The assets of the scheme are held by an independent corporate trustee, whose activities are governed by the National Employment Savings Trust Order 2010, made by the Secretary of State in exercise of powers confirmed under the Pensions Act 2008.

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

3. Donations and legacies

Salaries and pensions of individual religious
received under Gift Aid or deed of covenant
Legacies
Donations from FMM Generalate UK CIO on
behalf of the Institute of the Franciscan
Missionaries of Mary
Donations from FMM Charitable Trust
Other donations		 Unrestricte
d funds
2025
£
-
-
-
-
-
2,010,812		 Endowment
funds
2025
£
346,469
-
1,664,343
-
-
-		 Total
funds
2025
£
346,469
-
1,664,343
-
-
2,010,812		 Total
funds
2024
£
395,923
286,173
2,273,474
2,910,287
39,087
5,904,944

4. Investment income

Unrestricte Total Total
d funds funds funds
2025 2025 2024
£ £ £
Income from listed investments 48,360 48,360 43,838

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

5. Expenditure on: Donations

The charity makes donations principally in support of the overseas work of the Institute of Franciscan Missionaries of Mary and those causes which further the Roman Catholic faith.

Generalate of the Institute
Overseas missions of the institute (see below)
The Medaille Trust
CRISIS
St Helen's RC Primary School
Others (less than £1,000 each)		 2025
£
646,017
540,667
1,000
1,000
1,000
2,670
1,192,354		 2024
£
3,285,212
1,011,287
-
-
-
20,140
4,316,639

Grants and donations payable to overseas missions of the Institute during:

Ireland
Malta
Pakistan
Rome
Ukraine		 2025
£
209,849
328,032
30
50
2,706
540,667		 2024
£
642,119
369,168
-
-
-
1,011,287

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

6. Expenditure on charitable activities

Donations payable to
institutions
Premises
Sisters’ living and personal
expenses
Staff costs
Education, training and spiritual
renewal (note 9)
Depreciation
Other professional and
administration fees and
charges
Governance costs (note 7)		 Direct costs
2025
£
-
284,565
202,990
667,840
107,740
211,635
-
-
1,474,770		 Donations
2025
£
1,192,354
-
-
-
-
-
-
-
1,192,354		 Support
costs
2025
£
-
-
-
-
-
-
53,088
28,000
81,088		 Total
funds
2025
£
1,192,354
284,565
202,990
667,840
107,740
211,635
53,088
28,000
2,748,212		 Total
funds
2024
£
4,316,639
265,741
219,996
720,044
82,172
204,150
61,260
27,480
5,897,482

7. Governance costs

Included within expenditure on supporting members of the Institute and their ministry are governance costs as detailed below:

Legal and professional fees 2025
£
28,000
28,000		 2024
£
27,480
27,480

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

8. Net income / (expenditure) and net movement in funds

2025 2024
£ £
This is stated after charging:
Staff costs (note 9) 667,840 720,045
Auditors' Remuneration (including VAT)
- Statutory audit services - current year 23,625 22,500
- Statutory audit services - prior year under provision - 1,980
- Other services 3,150 3,000
Depreciation 211,635 204,150
Net (gains)/losses on foreign exchange (36,640) (33,568)

9. Staff costs, key management and trustees’ remuneration

Staff costs during the year were as follows:
Wages and salaries
Social security costs
Other pension costs
Other employee benefits
Agency staff costs
The average number of employees, analysed by function, was as follows:
Support of members of the Institute and their ministry		 2025
£
587,914
62,855
10,671
661,440
6,400
667,840
2025
No.
29		 2024
£
608,755
48,042
10,883
667,680
52,365
720,045
2024
No.
30

No employee earned £60,000 (including taxable benefits) per annum or more during the period (2024: none).

Key management

The trustees consider that they comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis.

All trustees are members of the Congregation and whilst their living and personal expenses are borne by the charity they receive no remuneration or reimbursement of expenses in connection with their duties as trustees or work as key management (2024: nil).

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

10. Taxation

The Franciscan Missionaries of Mary UK CIO is a registered charity and therefore is not liable to income tax or corporation tax on income or gains derived from its charitable activities, as they fall within the various exemptions available to registered charities.

11. Tangible fixed assets

Cost or valuation
At 1 January 2025
Additions
Disposals
At 31 December 2025
Depreciation
At 1 January 2025
Charge for the year
On disposals
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024		 Freehold
property:
Specialised
property
£
6,465,085
-
(345,000)
6,120,085
1,516,254
128,501
-
1,644,755
4,475,330
4,948,831		 Freehold
property:
Non-
specialised
property
£
1,956,839
-
-
1,956,839
137,900
-
-
137,900
1,818,939
1,818,939		 Furniture
and
equipment
£
362,829
59,664
-
422,493
162,317
80,071
-
242,388
180,105
200,512		 Motor
vehicles
£
93,568
-
(11,089)
82,479
89,996
3,063
(11,089)
81,970
509
3,572		 Total
£
8,878,321
59,664
(356,089)
8,581,896
1,906,467
211,635
(11,089)
2,107,013
6,474,883
6,971,854

The historical cost of freehold land and buildings included above at a valuation cannot be ascertained with accuracy.

As permitted under FRS 102, the charity has continued to adopt a policy of not revaluing its tangible fixed assets. Land and buildings previously classified as investment properties are shown at their market value immediately prior to reclassification. The book value of the land and buildings held on 1 January 1993 is based on a valuation determined at that date by the trustees with professional assistance and based on open market value for existing use. As permitted by FRS 102 the values assigned to the land and buildings are now deemed their cost. With the exception of land and buildings previously classified as investment properties for a period on or after 1 January 1993, all land and buildings purchased as functional assets on or after 1 January 1993 and other tangible fixed assets are stated at cost.

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

12. Investments

Listed
investments
£
Cost or valuation
At 1 January 2025
1,141,446
Additions
660,925
Disposals
(527,855)
Revaluations
(14,385)
Amounts written off
-
At 31 December 2025
1,260,131
Listed investments held at 31 December 2025 comprised the following:
Equities
Bonds
Property
Infrastructure
Forestry
Private equity
Social impact
Financial
Cash
13.
Debtors
Due within one year
Amounts owed by Generalate of the Institute of the Franciscan
Missionaries of Mary
Prepayments
Other debtors		 Cash held
£
113,402
-
-
-
(94,501)
18,901
2025
£
298,306
598,285
-
177,326
74,178
20,525
6,444
85,067
18,901
1,279,032
2025
£
7,479
-
44,000
51,479		 Total
£
1,254,848
660,925
(527,855)
(14,385)
(94,501)
1,279,032
2024
£
274,629
364,754
5,124
290,714
74,258
29,277
7,963
94,727
113,402
1,254,848
2024
£
-
5,644
103,779
109,423

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

14. Creditors: Amounts falling due within one year

Monies administered by the charity on behalf of individual members of the
UK/Ireland/Malta Sector of the Northwest European Region of The Institute
of Franciscan Missionaries of Mary
Amounts owed to the Generalate of the Institute of Franciscan Missionaries
of Mary
Construction project creditor
Other taxes and social security
Community sundry creditors
Accruals and deferred income
Statement of funds
Statement of funds - current year
Balance at 1
January
2025
£
Income
£
Expenditure
£
Transfers
in/out
£
Unrestricted
funds
Designated
funds
Tangible fixed
assets fund
6,971,854
-
(211,635)
(285,336)
General funds
General Funds
1,750,662
2,406,281
(2,543,475)
285,336
Total
Unrestricted
funds
8,722,516
2,406,281
(2,755,110)
-		 2025
£
252,349
-
37,268
1,577
100,159
99,940
491,293
Gains/
(Losses)
£
-
(14,385)
(14,385)		 2024
£
639,973
296,552
37,268
946
41,734
169,902
1,186,375
Balance at
31
December
2025
£
6,474,883
Balance at 1
January
2025
£
Unrestricted
funds
Designated
funds
Tangible fixed
assets fund
6,971,854
General funds
General Funds
1,750,662
Total
Unrestricted
funds
8,722,516
1,884,419
8,359,302

15. Statement of funds

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

15. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Tangible fixed assets fund
General funds
General Funds
Total Unrestricted funds
Restricted funds
Malta building fund
Total of funds		 Balance at
1 January
2024
£
7,354,099
Balance at
1 January
2024
£
688,048
8,042,147
417,545
8,459,692		 Income
£
-
Income
£
6,217,799
6,217,799
-
6,217,799		 Expenditure
£
(382,245)
Expenditure
£
(5,104,651)
(5,486,896)
-
(5,486,896)		 Gains/
(Losses)
£
-
Gains/
(Losses)
£
(50,534)
(50,534)
(417,545)
(468,079)		 Balance at
31
December
2024
£
6,971,854
Balance at
31
December
2024
£
1,750,662
8,722,516
-
8,722,516

The tangible fixed assets fund represented the net book value of the charity’s tangible fixed assets, excluding those specifically representing or belonging to restricted funds. A decision was made to separate this fund from the general fund of the charity in recognition of the fact that the tangible fixed assets are essential to the day to day work of the charity and, as such, their value should not be regarded as funds that would be realisable with ease in order to meet future contingencies.

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

16. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricte
d funds
2025
£
6,474,883
1,279,032
1,096,680
(491,293)
8,359,302		 Total
funds
2025
£
6,474,883
1,279,032
1,096,680
(491,293)
8,359,302

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
6,971,854
1,254,848
1,682,189
(1,186,375)
8,722,516		 Total
funds
2024
£
6,971,854
1,254,848
1,682,189
(1,186,375)
8,722,516

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

17. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the year (as per Statement
Activities)
Adjustments for:
Depreciation charges
Investment income and interest receivable
Surplus on disposal of tangible fixed assets
Losses on investments
Decrease/(increase) in debtors
Decrease in creditors
Net cash used in operating activities
18.
Analysis of cash and cash equivalents
Cash in hand
Cash held by investment managers
Total cash and cash equivalents
19.
Analysis of changes in net debt
Cash at bank and in hand		 of Financial
At 1
January
2025
£
1,572,766
1,572,766		 2025
£
(348,829)
211,635
(48,360)
(293,813)
(14,385)
57,944
(695,086)
(1,130,894)
2025
£
1,045,201
18,901
1,064,102
Cash flows
£
(527,565)
(527,565)		 2024
£
313,358
204,150
(43,838)
(231,238)
-
54,213
(466,854)
(170,209)
2024
£
1,572,766
113,402
1,686,168
At 31
December
2025
£
1,045,201
1,045,201

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FRANCISCAN MISSIONARIES OF MARY UK CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

20. Ultimate control

The charity, which is constituted as a Charitable Incorporated Organisation, was controlled throughout the year by the Institute of Franciscan Missionaries of Mary by virtue of the fact that the Provincial Superior of the English Province appoints all of the trustees. The Institute does not hold any assets, incur liabilities or enter into any transactions in its own right within Great Britain. Assets and liabilities in Great Britain are vested in the trustees of the charity, who undertake all transactions entered into in the course of the Institute’s charitable activities.

21. Related party transactions

As members of the Institute, none of the trustees have resources of their own as all earnings, pensions and other income have been donated to the charity under a Gift Aid compliant Deed of Covenant. During the year, the total amount donated by the trustees to the charity was £7,452 (2024: £6,468).

The charity is connected to Corporation of Trustees of the Franciscan Missionaries of Mary (a charity registered with the Charities Regulator Ireland – Charity Registration No: 20014575) (the Irish charity) by virtue of the fact that all trustees of the charity are also the trustees of the Irish charity.

During the year, the charity paid a donation to the Franciscan Missionaries of Mary Generalate CIO of £195,000 (2024: £1,745,000). In addition £500,000 (2024: nil) was received from the same charity in the year. The transactions with the Franciscan Missionaries of Mary Generalate CIO are shown as movements within the balance with the Generalate of the Institute of the Franciscan Missionaries of Mary. One of the trustees of the charity is also a trustee of the Franciscan Missionaries of Mary UK CIO. There were no amounts owing or owed to the charity at the year-end.

During the year to 31 December 2025, the charity made donations to the Irish charity of £209,849 (2024: £540,667).

At 31 December 2025, the charity’s creditors: amounts falling due within one year included £98,659 (2024: £103,408) being monies due to the Irish charity, and debtors included £3,048 (2024: £50,822) due from the Irish charity.

No donation to FMM Malta is noted as a related party transaction as this is not a legal entity, under Maltese law, so there are no Trustees in common. FMM Malta takes its legal status from the Catholic Church.

Page 55