ChRrity reEbtrAtiofft limbel. 238148 THE CHARITY OF THE CONTEMPLATIVE PASSIONIST IYUNS MIINISTERACRES ANNUAL REPORT AND UINAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTEIiACREI S LEGALAND ADMINISTRATIVE INFORMATION Trustee5 Motlier M Curran Si5tsr P Story Mother R Capp¢lletti Charity nDniber 238148 Address Mona5t¢ry of OurLady of Holy Hope Miiislei?crcs Nr CoE)sett Co. Durhattl DH8 9RT Ind¢p¢udtlll examhner D&rren FlardTngACAFCCA DChA Richard PlaceDobson ServEces Limited 1-7 Station Ro&d Craivlty W¢st Sussex RHIO IFrr
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST IYUNS MIINISI'ERACRES CONTENTS PAge Trust¢es' report Indepetjdeiit examinevs report Sttttemetkl of fJnan¢ial aclivitiC8 Balance5hrrt Not¢5 to the finan¢ial statements 6-14
THF CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES TRUSTEES, REPORT FOR THE YEAR EJVDED 31 DECEMBER 2023 The trust preseni theii. annual report ah)d finanGial stat¢iThenls foy theyear ended 31 DecemkKT 2023. Tli¢ fin8llCi21 statements hfj b¢m preped in accordatbC¢ M4th ilie ttttounttng policies set out in not¢ I to th¢ finan¢il Sllttncnts comply with the ¢h)tiiY$ trust deed, the LhariÉi&E Act 2011 and 'A¢nting and RertIng by Charities.. S(ateinenl of Recommended PM¢ti¢¢ applicable to chal'lties prepariiig th¢ir in accordance with th¢ Finaiicial Rcporting Standaid applicable in the UK and Republic of TKlat]d IFRS 1021" {¢ff¢¢live l JanukY 2019). Objecffves #etlwltles Objectives and alms 'Ih¢ charity is established for such doritable purposes wliicli advance th¢ r¢ligiou$ oth. charstable work Gqriied on by or und¢T th¢ diiyction of the SocÈety. In so dcciding ii,hal activities to urtdeitske Ihe trte¢S liav¢ paid due regard to the Charity Commission's current giiidwwK on publi¢ bettefit iiicluding guidgtt(t on advattctincnt of irligion. The objective's of (hc Charity are to provide both and spirÉtual advi to oth¢r Irligious Ixders &nd the public for Ihe good oftli¢ cojnmunities the charity swves, 10 assixt Ihust in nced and to protThot¢ the wotrd of God and t[ worship of OuriA)rd within th¢ s¢ope of what is charitable. ?rybli¢ btJefit Th6 ¢harity's trustees hav¢ Tefci'red to Ihc guid)ce in the Charity CoJ)mission'8 general guidanc¢ on Publi¢ B¢Th¢fit wh¢rt r¢viewinE Ihe charily's ain15 and obj¢¢tives 8ÈJd in planning its fu¢uTC activitits. In particular. they hav¢ consideT¢d how plartned activities will ¢ontribut¢ to the aims and obj¢ctsv¢s Ihcy havc sct. Achlevem¢nts #nd performaDce ChatltAble ActLVities Thtt Lhai'ily puts faith into pradt¢¢ promthing the whole ini&sion of the Church, pastoral, evang¢licAI and social, by pvayer, sGripturc,-%acr&tThcnlal lif¢ aE]d Selfless servicG During th¢ year th¢ work of the charity lias been directed lowards.. Support of the Roman Catholic Churrh in its inission concerning th¢ welfare attd protection of children &nd vultL6rablr adults withln the comtnunity. Making availablr T¢ligtous couns¢llin& pamfcuiarly for those f8Ging thcir oivn lif¢ crises o¥ helpitEg oibers with their dtfficulii&8 J)uring the year Mother Monica undcrlook a rol¢ ossisting the Hospitaliiy Managet for Ihc PasBionists itl mtercK5 Rttreat CentiE. Flllaiiciwl revlw Vinancial yosltÉon The c]iarily had net illCOTniiig rtsourccs for Ihc year of £98,930 (2(J22 tncomii¥ rwur¢es £289,115). Reserves policy It 1$ the policy of the thlty tliat utLT¢stricteil fynds which have nat hecn desiated for a 5pe¢ifje use should be mainl&ined at 8 level equivalent lo bc¢Wten Nelv¢ ¢wÈnty-four month8 Lnontlis ¢xpeiiditure. The b'usle¢s considBrs thal irserves at thi5 level will t8U that, in the event of a si8nificani di¥>p in they will be able to contillu¢ th¢ Ghfjrity's Current activities while consideration is Eiyen to way5 in which additioiial fuiids may be rats¢d. Iiivestment poliw objectlvos Invcslnienl 3trat¢gy is Lnanaged by th¢ ¢harity's inv¢sim¢tsi advisors who tak¢ intts a¢count Lls incoiiie fqUiTenient5, Ihc Tl5k pEDfile of the invwillienls and their vi¢w on the market pr05pccls in the iiiediuim tert. This Strategy is sEt wid]in ov¢rnll poli¢y. Ivhich requires futds lo be inY¢sied in loiv and lliediuin rtsk investments Strutturt> goveriianc¢ mAiIA%ement Th¢ ¢liarity wa5 ¢StÈblish¢d by a charitable trust deed un4 NDvembcr 1964 a2))¢nded by resolutLOll pa55¢d und¢r s¢¢lio 74D of the Charities Act 1993 as am¢tHled by th¢ C1kaT1tiAFt on 6th January 2019. page I
THE CHARITY OF THE CONTEllIIPLATIVE PASSIONIST IYUNS MINISTERACRES TRUSTEESI REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Thc truste¢s who s¢vved duringthe year and up to Ili¢ date of sTgTraturc of Ihc financial statemciits were.. Mother M Curran Si$ier P Stoiy Motlier R Capp¢ll¢tti Trustces 8rc selectedfrom fully professed members of the Congregation and th¢y are introduced tD the rtsl¢ ind tli¢ ¢$ponsibility of b¢ing a trust¢¢ by auertdartce at mectings. On tlie 3 Ist May 2024 ihe trte¢S changed th¢ rharity ttaine frojn Chaiity for the Congregatloo Qf the Passlort of Jesus ChrÈs¢ to Tlie Charity of ihc Collt¢mplaliv6Passiolli$i Nuns Ministeracres. They still have th¢ s&m¢ Ghgrity registration numbcr. Rlsli The trustees h&ve a duty to identify 8nd revi¢iv thc risks to whi¢h th¢ chwiry is exposed and to cnsure appropriate cvnlTvIs are in place Io PTovid¢ nable surance against hud and error. Thc tIU5tw' report w&s approved by tht Boatrd ofTrllsttts. Mother M Curra Tru8tee pag¢ 2
THE CHARITY OFTHE CONTEMPLATIVE PASSIONIST NUNS IIIINISTERACRES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHARITY OF THE coNfEMPLATIVE PASSIONIST NUNS MINISTEI RACRES T v¢port lo the trustees on tny aMInatIon of (lie financial statements of The Chariiy of the Contemplative PasSio3t Nuns Minisiera¢r¢8 (the charity) for the ye. ended 31 Dcccmbcr 2023. Respoiislbllltlos Atkd bfLSi5 of report As the t¥iistee8 of the ¢hariry YOU alt rt8ponsible lor the piyaratiott of th¢ fuCial statettk¢nts in a¢Mrdan with th¢ requiirments of tbe Chgriti¢s Act 2011 {Ihc 2011 A¢tl. I T¢PDTI in trespcct of my examination of th¢ thaTity'5 finan¢ial sl&tsm¢Jts can'ied out under section 145 of the 2011 A¢t. Iti Ganyiiig out Jny cxamitjalion I bave follow¢d all the applicable Directions givetk by the Charity CoinmTssion und section 145{5Kb) of th¢ 2011 Act. Indcptiident examin¢r 5 Statemtttt have complctcd my cxainination. I confirm that no matt¢rs have tome io my attention in connectson with the &Kainination giving me ¢ause to belleve tbat in any material respe¢t'. ac¢ouniiii£ records were not kept iii r¢3tKct of th¢ rh&r*ty 85 i¢quiIEd by section IJO of te 2011 Act.. or tlie finaiicial stat¢m¢tkts do iiot &cthrd with Iliosc Yeeords. or the fingncial %lattin¢nts do no( comply ivith the appIlble t¢qvire]nents concerning the form &nd conten( or accoiitlts s¢t out in the Charities IAceoun¢8 and Reports) ReguJuliotLS 2008 uthrr thah any rrquirrmet)t t1( the accounts give a tru¢ and fair view whlch is mt a matter con51d¢red S part of an lnd¢p¢ndl ¢xamin&tion. I h&v¢ no ¢0cerS and have come a¢itss tko oiher matters in connection with th¢ &x¥mination to which attention shou]d b¢ drnwn irt this rey)rt in ordcr to ¢nabl¢ aprop¢r und¢TStandin8 of ih¢ fi1Cial statements to b¢ reached. DarreTh Harding ACAFCCADChA Richard Place Dobson Sexvices Limited 1-7 StB(ion Road Cixwley W¢st Su5S¢X tU.IlO IFtr pBge 3
TH CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Uttrtstrleted Ullrestrlttsd fujids £ener81 DéslEttated Total Uiittstrltttd Un$tr1ded fuiid5 gener&l Dèsliiiated Tot#1 2023 2023 2023 2022 2022 2022 Notes Iiicome endowrneiil8 from: Do)ation5 re£e%ved Invwlm¢n¢s oth income 80 80 370 24,893 125 125 37Q 24,893 23,504 23,504 Thtal itt¢ome 24.973 370 25.343 23.629 23.629 endilure on: R8ising fuiids 26.067 26.067 26.159 26.159 Chariiable activilLeS 51,947 7.189 59,136 51,629 7,189 58,818 Tol41 expendlture 51,947 33,256 85,203 51,629 33,348 84.977 Net goE0(loSSes) on invesiinenls 158,790 158.790 350.463 350.463 Nct mov¢ment fuuds (26,974) 125,904 98,930 (28,0001 317,115 289,115 Fund balan¢es ot l January 2023 131,134 2,945,495 3,076,629 159,134 2,628,380 2,787,514 bAIAnces ot31 De¢embtr 2023 l(H,160 3,071.399 3,175.559 131.134 2.945.495 3,076,629 Th¢ $t&t¢iEtent of financial activiti¢s in¢lude5 all glin5 ltssscs rt(ognis¢d Én th¢ )'car. All income and expenditure dcrive from colltinuillg &ctivitl¢5. pag¢ 4
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES BALANCE SHEET ASA T31 DECEMBER 2023 2023 2022 Note5 Fixed assÈts Tangible gSS¢15 13 730,009 2,385,833 745,227 2.252,739 3,115,842 2,997,966 Current asstts C&8h at bank 8nd itt hand 65,356 82,638 Crnllitors: amoutht$ f•lllng du¢ within one yeAr 15 {5,6191 {3,975) N¢t Gurrent assets 59,717 78,663 To*iI A88ets less currtht IIAbllltlts 3,175,559 3,076,629 Iiicome fuiids UnTe ri¢t¢d lld5 Dcsignatcd fund5 Qien¢rHI uniEslricled fiEnds 16 3,071,399 104.160 2,945,495 131.134 3,175,559 3,076,629 3.175.559 3,076,629 Th¢ finats¢ial st&lettt¢ttts w¢r¢ approved by tbeTru5tees oji........................ Modier M Curra Trustee page 5
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES NOTES TO THE FINANCIAL STATEMEiYrs FOR THE YEAR ENDED 31 DECEMBEA 2023 Accouiitiiig polltlès ChArity informRtioii Th¢ Charity of th¢ Conl¢mplativ¢ Passiotkis¢Nims Mirtislerllcre8 is diorilable Iru%t. The p¥ll1paI address is MoD&stery of our Lady of Hop¢. MiDStEr, Near Conseii, Co. DuiJam, DH8 9RT. 1.1 AeeouiitiDg collveiition The fEn&ncial stattm¢nts have be¢n pr¢pfjted fft a¢eord8nce with the charity's Igoveming documen¢l, the Charities A¢t 2011. FRS 102"Th¢ Finaucial R¢wkrlins StatthTd appli¢able in the UK alld Republic of Ireland" I'FRS 102") fjnd th¢ Charities SORP 'A¢counting #nd RerI]ng by Chwi¢ies- Sia(Lrnenl of ReLOtnm¥ndcd Prac¢ite applicable ¢0 chaTÈti¢s prepaiyng their accotints in accordaiice with the Iiinanci Rcporting Standai'd applicablc in the IJK and Kewhlic of Ireland (FRS 102}" (¢ffecliv¢ l January 2019). Th¢ charity i5 4 Public B¢n6fJt Entity as d¢fin¢d by FRS 102. The charity kas taken advantage of th¢ proYisloE]5 In th¢ SORP f¢r chatities not to prtpw¢ & Stat¢m¢rtt of Cash Flows. The financial statements are Prepared in stcrling5 which is (he funGtiollaE curr¢ncy of th¢ chgrity. Monelgry amounts in Iliese financi81 statmts are rounded to th¢ nearest £. TlJ¢5e fin}la1.1tctt1Cnts fov thc ycar ¢1¢d 31 D¢ccmbei' 2023 are tbe fu81 financial slatcments of Tjie Charity of the Contetnplativ¢ Pa55ionisl Nuns Minist¢Yd¢res prepared in accordance witb fRS IQ2. The Ftnanci&l Rq)oltll Standg¥d applicablc Én th¢ UK aiid R¢publi¢ of fr¢lwJd. Th¢ date of tiw)sitiott to FRS 102 w&$ l January 2022. Tbe fepoited rin&ncial )sEtiOn and financial performw)¢¢ for the pvevious peviod 8re not affected by the transttion to FRS 102. 1.2 Goiiig ¢oiieerll At Ilie time of approving the finanGial stat¢ments. the trustees have a reasonable expectation that the tharity h&8 adequate resources to continue ill op¢iTrtioii#l exist¢nee for ihe f*See&bEe fumre. Th8 the trustee8 e4)ntinue to adopt ihe Eoing concern knis of accouiiting in PTepiring the financial siatemcnts. 1.3 thArItble fund5 UnrtrIcItd fund5 arc availobl¢ for us¢ at the discretion of IlLetrustees in furth¢rancc of their cliaritabl¢ obj¢¢tlv¢s. De5igna(cd fund5 arc tho$¢ Kt assdc as deterjnined by the tr. FurthEr ¢xplaDation ¢f th¢ nÈtvr¢ artd purpose of ¢a¢h (UT is inrludrd in th¢ N)¢¢s of the fmancial stateniejits. 1,4 Illcome Intome is recognis¢d ivhen the thariry Is Itgally tntÉtlcd to it after any pcrfomiance conditions have b¢cTh m¢t, thc 8mounts can be m¢asu¥ed r¢liablyJ arkd it is ptDbabl¢ thal lrtwm¢ ivill b¢ tEceived. Donation3 &r¢ recogni whcn Ihc charity has receivd notification of both th¢ atnount4tLd $¢ttl¢ment dat¢. tncome frojn ¢hatithble aciiviues rcpres&]tS State pen5LOllS r¢c¢Év¢d for rn¢h sist¢r and is r¢¢o8nised when it is Yeceived. Other income reprcsents ainounts rtrtiv¢d from Ofgen in relation to the R¢new&ble H¢a¢ lTh¢entiv¢. l.S Expenditure Liabilities ar¢ iecogrtised a% expenditure a5 SOQll gs thcrc 15 a Icgal ar o)nstrCtIVe obligation committing tli¢ charity to that ¢xp¢ndit¢JY4 il is piY)bable that 8 Iransfey of economiG bBnefil$ ivill be required in settlement and Ihc amount of the obligation ¢aA be ThJeL8urtd reliably. Exp¢nditure i5 4ttoun¢ed fov oil an accruals basis and h&8 been ¢14s8ified undei. headiDgs that asrgatC all cost related to the category. WhE eosis caitrtot be diircÈly &ttTilxJted lo parliculaL' beading5 they have be¢n allw8l¢d to èctivitie8 on a basis consisteni wilh the se of resources. page 6
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES NOTES TO THE FINAIYCIAL STATEMEI NTS (CONTINUED) FOR THE YEAR EIVDED 3J DECEMBER 2023 Aetoulltkn£ polltlé$ 1.6 Taiigible fjxod x5sets Tallble fixed Isseis are ittitially mcasuTtd at cost and subsequently me8sured at cost or vuall0rt, nel of depreciation and any impgiriThetht loss&$. DepiEciation is recognÉsed so aa to writ¢ off th¢ cost or valualioti of &88cls less Ihcir tcsidual values over their usefi)I live$ on the following be$.. Land alld buildings Fixtur, fittings & equipment Moror vehicles 1 /0 strai)t lil IOYO reducing balort¢e 25/0 reducing balance The 8&in or loss arising on the dispos8] of an asset Is det¢m]intd as the difference between the $al¢ PEV(zcds and the catrying valucof the &8sel, 2nd is retognised Èn the statement of financial activities. 1.7 Fixed asset investments Fixed ass¢t inve51m¢nts ar¢ lliiti8lly Ineasurcd at transaction pr&cc cxcluding traiisaBtinn costs, and are Subsequently Ineasured at mgrk¢t v&lue at each reporting dat& Chang¢s in mark¢t value ar¢ recognised in net ina)m¢l(expdl(UrcI for the year. Transaction eosts are expensed &s incurr 1.8 ImpairnittLt of filed wet5 At ea¢h itporting ¢nd dat¢, th¢ ch3rity the carrying 0ntS of ils langible aSSS to dei¢rmin¢ wh¢th¢r therc is any indi¢atien lha¢ tlios¢ ass¢ts have suffered an impaÉrment loss. If9Y such indication exists. the ircoveiEbl¢ atllounl of the asse( is estin)ed its older to dereiinitke (he ext¢nt of the irnpairmenl loss (if any). 1.9 C8sh eA8h equlvgltllts C&sh r¢pr¢s¢nts amounts held OTh short Éejin deposil accounts attd is mcasllreAI as the Èctual amount of cash held in the account. BavlcJl*&ttdalllhblllrfe$ CTcdilors 8re rccugnÈ5¢d whcrc tlic charity has a prescnt obliEation resu]tÈnk from a past eYeTht thatwill probably reBult in th¢ fransfcr of futtiL% lo a third party #nd thc amount duc t() %ctEle the oblTgatiDn he Tlleasured oi. estimated reliably. CY¢ditors ar¢ normally r¢¢ognised ot th¢iY s¢ttlgrncnt otnourtt after a]loiving for any discounts du 1.10 TaxRtion Thr Gh8rity Is ¢x¢mpt from tu on its ¢kwÉtobl¢ adivitirs. 1.11 For¢igiL ¢xclJang¢ Assets and liabililics tn forciEll CutCleS arc Iran51atcd irtto stcrling at the ratts of exthartxe ruling at the balance sheet date. TrntLsadiDn5 in fai'cign wrrcnci¢5 ar¢ hzn%lated inkn .%tcrling at th¢ rat¢ of exchange ruling at the date or transJclion. EXchgr differ(¢$ 4r¢ taknn ¢0 th¢ $t&t¢m¢ntoffinatk¢ial activiti¢S. Cost8 of chaiitable activitie8 are lncuvird on the chai'xty'g Options, tEicItTding 8ilPPOrt costs and costs relating ¢0 th¢ g(Ivernance of the charity apportioned to charitable a¢tivilie5. Govtriiance c4)sls include costs incuiird in d¢aling with th¢ legal and adiniiii8lraÉion duties of (he charity and gre I(gnIs when incurred. Tliesc are noiv Rncluded ivithin support costs and allocated to direct ¢iwitabl¢ aclÈvihcs. pag¢ 7
THF CHARITY OFTHE CONTEMPLATIVE PASSIONIST IYUNS MINISTERACRES NOTES TO THE FINANCIAL STATEMEI NTS {CONTINUED) FOR THE YE411 ENDED 31 DECEMBER 2023 Accoullting i)olici¢5 (Continued) 1.12 Realised gai115 aiid lo55¢S All ¥Jins und Iosscs ale ¢aktrn to Ihe staiemeiit trf fi]wlaI a¢ilvlties as thy atis¢. R¢alised galns and losses on Èiive51inents air calculalcd 3S the diffcrcnce betwcen Sales proceeds and tlicir op¢Jiing carjying value or t[lr purcha8¢ valu¢ if a¢quired Subqu¢llt to th¢ first day of th¢ financial year. Unrealised gains at losses are calcuiaied as Ihe diff¢renc¢ b¢tsve¢n the fair vJlu¢ at th¢ y¢aT ¢nd ind th¢ir cryIng value. Reali5ed and wuealistd invcslm¢nt gains artd 1085es ar¢ combined in th¢ Stat¢mentof Financial Activities. Critical Ae¢ouiitii¥g e5tiinAteS And judgements In thr application of the ¢haTlty's accounling policics. the l¥ustccs are reqllircd to make judgetnents, ¢stimates and Èssumptions Ihc catTyiThg aiiiount of asscts and liabilitics ihat arc not Tcadily appaTcnt from other 50urtt8. The eStiloIes and 2s80tiad assumptloils &lE based on hssiorical exptri¢n¢¢ &nd oth¢r fadors that ar¢ considered lo be r¢I¢vlI. Actu teslllts may differ fiY)m I1se eslimates. The estitnates uiideTlying a55UITlPtions tre revithved uti an onRoinK bHsi5. Revi510115 to accounting estimates a¥e recagllised in the pcrind in whid) the &stittkatc is revised where ihe revi4ion affe¢ts only that peri, or in the period of th¢ ViSIon future p¢riods WIr¢ th¢ r¢visioa aff¢Gts both current and future period8. Residual es1itLated value of land and buÉldiDg is in exc&88 of ¢OBt and tlie Jxoperty 18 not being impair¢d. Dtsi1#tlo5 recelved Uhre4tri¢ted Uurtstrieted funds rullds ieiierAI geiJtrAI 2023 1022 l)onation8 and gifts 80 125 IDv¢s¢ments urtrICterf ttds Deslgllhted 2023 Total 2022 Interest receivabl¢ 370 page 8
THE CHARITY OFTHE CONTEMPLATIVE PASSIONIST NUNS MII¥41STERACRES NOTES TO THE FINANCIAL STATEMEI NTS (CONTINUED) FOR THE YEAR E]VDED 31 DECEMBER 2023 Other ineonie Uiirestrlcted UMresti'i¢ted funds general geiierlll 2023 2021 Other income Si5ter'$ pct1510ns 5,595 19298 S.583 17,921 24.893 23,5( R&lsillg funds Ullrtstrl¢ttd Uiittstwicted fuiids riillds DestgnAttd Deslgnate41 2013 2022 lthv em¢n 26,067 26,159 26,Q67 26.159 page 9
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YE4R ENI)ED 31 DECEMBER 2023 ChaYitabl¢ Rctiviti¢5 Dlrect Dirè¢t charitable tbRrif8bl¢ pemditure expertditur¢ 2023 2022 Dcprecl&tjo and impairment Ratcs and wal¢r Insuraiice Light and h¢at Telephotje P¢siJg¢ and station¢ry Sundixes Charitable donation$ Mator and Iravcllittg exp¢nscs Sisters needs Repair5 and maiDl¢nanc¢ edÈLal Computer eXpe¢S 15.218 388 2.798 4,078 686 1,498 15.198 696 2,047 4,195 645 14 672 2,778 102 15.722 3.526 5.368 497 705 16.008 9,462 2,898 52.659 52.540 Sh&reof support costs (see tjotc 81 Sharc ofgoverjjancc c08ts (see Dote 81 95 6,382 89 6,189 59,136 58.818 Anwly5js by Unrr5trict¢d fund$- g¢neYal Unrestricted nd8- Desiated 51,947 7.189 51,629 7,189 59,136 58,818 pag¢ LO
THE CHARrrY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES NOTES TO THE FINANCIAL STATEIVIENTS (CONTINUED) FOR THE YE4R ENDED 31 DECEMBER 2023 Support cosls Support ¢osts GDY¢rJiaNce Costs 2023 Supiyort tosts GDv¢Tnance costs 2022 Bank ¢harges 95 95 89 89 Indcpendallt examination fees Le881 and PT<>f¢ssional 5,640 742 5.640 742 5,520 669 5,520 669 95 6,382 6.477 89 6,189 6,278 Analystd betwec Cliaritable activities 95 6,382 6.477 89 6,189 6,278 Governattce costs illcludes payments io th¢ Ind¢pdent &xaTllilS of £2,400 12022- £2,41Xb) for preparation d indqxndent examinatLori. Trusteos None of the tNstees (or any persons cotTrnecied wlth Ih¢ml reee]y aY remuneiatiott during th¢ ysar. Trustees expeJLses The trustees are a]so membeLS of th¢ ¢ommunity. M¢fflb5 of th¢ COEnnJunity are mairtiained by th¢ charity the ¢05t of premises, meals and oihtr living ¢xpen$e% in Irsp¢¢tof ¢tKh sister are paid by lh¢ Lhai'ily. IO Einployets 2023 2022 Number Nujtsber Total There WaE IM) ernploye wh03e Bttnu&l v¢mun¢iYtion was Eaor¢ than £60,000. li UnStricted untriCted fullds fuiids DeslEnRtsd De$i8nated 2023 2022 Revaluation of inveslm¢ntS GaiEV{10551 on salE of 1nv¢5ttnts 155,820 2,970 346,583 3,880 158,790 350,463 page 11
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES NOTES TO THE FINANCIAL STATEMEiYfs (CONTINUE( D) FOR THE YEAR EIVDED 31 DECEMBER 2023 12 TAXAtlon The Chwity is ¢x¢mpt frojn tax in¢omB and ggins falling within Eection 505 of the T#xe$ Act 1988 or scetion 252 of Ihe Taxatiottof Chorgeabl¢ Gain5 Art 1992 to th¢ext¢tkt that these al'e applted lo its dwTltable objects. 13 Txrtgible fixed assets L8Dd AndFlxtrts. fitllngs M•torv¢hitles Tot1 Cost At l January 2023 730,000 73,888 3 1,985 835,873 Al 31 Dettmbcr 2023 730, 73.888 31.985 835,873 DepreciAtion And imyaiyment At l January 2023 Depreciation charged in the year 37,24S 7,189 45,922 2,797 7,479 5,232 90.646 15,218 Ai 31 Dcccmbcr 2023 44,434 48.719 12.711 105,864 Carryng amount Ai 31 Decembet 2023 685.566 25,169 19,274 730,9 At 31 Dtc¢n]bBr 2022 692.755 27,966 24,506 745,227 On completion OF the building work the property w4$ valued at £730,000. On adoJxÉot) of FRS 102 th¢ Irustecs have eleGt¢d ID adt>pt this valuation a% deemed ca51. 14 Flxed asset Investments Llsttd Ihvestmeiits Cash i portfollo Total Cost or valuation Ai l Januwy 2023 Additions Valiialion ¢harkg¢5 Di$po$&ls 2218,006 19.651 155,820 {43,181) 34,733 81M 2.252.739 20,455 155,820 {43.1811 At 31 Dcc¢mber 2023 2,350,296 35,537 2.315,833 Clrrylng Amount Al 3 L December 2023 2,350,296 35.537 2.385,833 Al 31 December 2022 2,218,006 34.733 2.252,739 page 12
THE CHARITY OFTHE CONTEMPLATIVE PASSIONIST NUNS MINisrbRACRES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YKdR EIVDED 31 DECEMBER 2023 14 Wi%¢d •&stt Ittvestmtts IContiu¥edl Hlsttsrloal Costs Ai 31 December 2023., £1,507,592 At 31 [kInber 2022.. £1,503,096 Tli¢rc w¢re no inyutineiit assets outside th¢ UK, Thc follewing inve8lm¢nl8 were lield Ihatrepresented over S% of portfolio holdings: Dimtn5ional Qlobal Core Equity D Acc- 16.08Q/o (16.24Qh) Dfmensional Global Sliort Datss BdAcc- 58.21•A (59.12%) Ditns1OaI Global TargcÉed Valuc D Acc- 16.27% (16.57Yo R¢valuatioJJ iuerve of £842,704 {2022: £714,910) are iticluded in designated futtd8. 15 Creditoys.. Amounts falllllg due wlthlii olle year 2023 2022 Oth¢r ¢ditOrS Acci'ua15 and deferrcd income 1,322 4,317 1.576 2,399 5,639 3,975 16 Deslgnate¢J fund5 Thc it)come of thc charity include the following d¢signated funds ivhich Ive been sct asidc otil of tjnrtstricted fiands by tlle trustces for 8pe¢ifLC PUIPO8es'. Movement iv fiinds Iuiomiiig R¢so¥rct5 resour<¢s exyended InvestNtnl¥ IxliiJAosses I JRIiuAry 21J22 JI Drrtrnbrf Investments Fund Land and Buildings Fund 1,928,436 699,944 {26,159} (7,189) 350.463 2,252,740 692.755 2,628,3EO {33,3481 350.463 2,945,495 page 13
THE CHARITY OF THE CONTEMPLATtVE PASSIOIYIST frfuNS ll¥lSTERACRES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YK4R EIVDED 31 DECEMBER 2023 16 DesigttAted funds (Coiitinu¢d) Movement in In¢omlng Resollrtoj Dejided Ilal*ii¢t at l 2023 Jnvtstments 31 DeErrnbE 2023 Investinent5 Ulld Land and Biiildings Fund 2,252,740 692,7SS 370 (26.067) 17,1891 158.790 2,385,833 6¥5.566 2,945.495 370 1332561 158.790 3,071,399 The 1nVr5frnts Fiind is set aside to provide iiicone for the ojwing neeth of tbe sisters in their ni&Di8lries and oJwin8 ca The Land and BuildinE$ Ful is sel £side lo rq)reseLt the charitys us¢ of the land and biiildings in puEsuancc of its chgsi¢ablc obj¢vtive5. 17 Analysls of met 0sset5 behveen fund5 Uttted DtsliiiAled futtds fuiids 2023 2023 Total Unrestricted Designated fund5 fuiids 21122 2022 Total 2022 Fund bal&nce6 at 31 De¢ember2023 are represenied by.. Tanwble 455ets IDves¢mBnts Current assetsl{liabilitie8) 44,443 35,537 24,180 685.566 2.350,296 35,537 730,ts09 2,3&5,833 59.717 52,472 34.733 43.929 692,755 2218,006 34,734 745,227 2,252,739 78,663 104,160 3,071J99 3,175,559 2,945,495 3,076,629 Relatsd PAriy trathsactions Th¢r¢ w¢r¢ no disclosable related paty lTwtiOnS duringthey&ir P022- nonc). pllge l4