Charity registration tktsmbcr238148 THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES LEGAL Af4D ADMtNISTRATIVE INFORMATION Trnsttes Mother M Currao Sist¢r P Story Mother R Cappelletti Charity nnmber 238148 Principal address Mo]WS*ry of Ow Lady of Holy Hope irtstetxcres Nr Consett Co. Durh1 DH8 9RT Indepemdent exgmirttr DatTen HardingACA FCCADCIL4 Richard Place Dobson Services Limited 1.7 Station Road Crawley We8t Sussex RHIO IHT
THE CHARrrY OF THE CONTEMPLATIVE PASSIONIST NUNS MIIYISTERACRES CONTEwrs Pag2 rrSte&S, report Independent ¢xatttin¢rf5 r¢p)rt Ststement of fi]WiCi activitics Balance sh¢ Notes to the financiaj 5t*Jn¢nts 6-16
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees wettt their amuai report and financial statements forthe year cndcd 31 December 2024. The finanGial statements have been prepared in accordan(z with the aecowiting policie8 set out III xitste I to th¢ fircIal siaiement$ and comply wtth the ¢haKity'8 trust d¢¢¢ th¢ Chgrities Act 2011 and "Account8 and Reporting by Charities: Statement of Recojnmendthl Practice appliLYble to ¢hill¢S pttparing their accounts IA J¢Gorthce with the Financial Reporting Standard applicabl¢ in the UK and Republi¢ of Ireland (FRS 1021" (effective l Jathyary 2019). Objeclives and artivitits Objtttiv¢s and aims Tht charity is established for such Chitable puryoses which advance the rcligious and other charitable work carried by or under the direction of th¢ Society. In so decsdiThg what aciiviti¢s to undertake the trustees have paid duc rtgard to the Charity ConllnissioA's ¢urrent guidancc an public benefit including guidsnc¢ on advancctnent of religioJL The objcctivt's of the chgrity to provide both 5anctuw and Spirittl advice to oth¢T lIgIouS orders and the public for thc good of the COTuinwLiti¢s the charity serv¢s. to sISt those in need and to promote the word of God and the worshÉp of Our Lord within th¢ sty)p¢ of what is charitable. Publi< bellefit The Clnty'S trustees h2ve referr¢d ¢0 the guidance in the Cltarity Commissitsn's g¢n¢ral guidance on Public Benefii when revi¢wiTLg the charity's aims artd objeaives attd in p13llning its tiiture activiites. In panicujar, they have considered how plamwl activitlts will contribute to the aims and obj¢¢tiV¢5 they have set A¢hieveme#ts perfonnance Charitable actkvitits Th¢ charity puts faith into prartice promotln8 th¢ whol¢ mission ofthe Church. pa3torai. evan8¢11 and social. by pray¢r, sttipttTf¢. sacramental lif¢ and sclfless selv1. During the ywthcwork of the thlty ha5 beett diT¢¢ted towaJd8: Support of (he Roman Catholic Ch¥h in its fftission eonternirtg th¢ welf¢ and protection of chÉldr¢tt vulnerable adults within the tommuruty. Making vailable religious couns¢lling, pgrticularly for tknse fa¢ing their own lif¢ ¢TÈse5 or helping othtrs with their difficulties DutinE the yt2r Mother Monica und¢rtook a role assisiin8 th¢ Hospital2ty Manager for the Passioni$ts in Minst¢racres Rttr&at Cct2tre. FiDaiicial lt Fitkatttixl p05itioN The chty had net incoming r¢sources for the ye8r of£123.116 (2023 incoming resources £98.9301. Resetrves poliey It is the policy of the chity that unrestricted OJnd8 whith have not been desÈ8Da¢¢d for a specific use should be maintained ai a l¢v¢l ¢quivaI¢nt to between tw¢lve and twenty-four rnonth5 months expendtture. Th¢ trustees considers that reserves at this l¢v¢l will ensure th in the event of a Silficant ifrop in fidIn& they will be abl¢ to continue the charity's current a¢tivities while consideT2tion is given to ways in whith additioJth] funds may be r2ised. Investment polity #nd objectives Invesllnent strategy is managed by thc tharity's investment advÉsors who lak¢ into account its income requiT¢ment4 the risk profilt pf the inv¢slm¢nts their vi¢w on th¢ rnJJket prospects in the medium tenn. This stsztegy is set N'ithin an overau poliq. which requires fijfjds to b¢ inyested in low and medium risk inve5ttnents Structurey governante a)Dd thaD*g¢ment The charity ivas established by a ¢haritabl¢ ttijst deed on 4 NovembeT 1964 as amended by Tcsolution passed under sectio 74D of the ChariuesAa 1993 as amended by the Ch2tiiiesAct on 6th January 20I9. page I
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDEI) 31 IIECEMBER 2024 The Irustees who served during the year and up to thc date of srgn2ture of th¢ fitwi¢ial statements wcrc: Mother M Curran Sister P Story Mother R Capp¢ll¢tti TnJs(¢es art selected from fully professed metniT5 ofth¢ Congregation and they are Antroduced to thc rolc and th¢ resportsibility of bEing atnJ5tc¢ by attend8nc¢ at m¢¢tings. Ort th¢ 31st May 2024 the tDJStee8 changed the charity natnc from Charity for th¢ Congregation ofthe P2ssion of J&%us Christ to Th¢ Charity ofthe Cottt¢mplativ¢ Pa5sioni5t Nulls mittisterac$. Th¢y 111 havcthc same charity registration ttber. Risk The truste¢s have a duty to identify and review the ri5k5 to whÈch the ¢harity is expo5 and to cnsure appropTÈat¢ eontro15 are irt pla¢¢ to provide rewnabl¢ sUra[1¢¢ ainSt fraud and error. The tnistees, rep)rt &pproved by th¢ Board of Trustees. Mothtr M Curr Trustee pagc 2
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES I rcport to the trustees on my ¢xaminatton of tht finartcial statements of Th¢ Charity of the Contemplativc Passionist Nun5 Minist¢racres (the chariry) for the year ended 3 1 DcceTnber 2024. Responsibilitie5 and bgsis of report As the trustees of the charity you responsible for the prep&ration of the fInala1 Statements in accordance with the T¢qULrcm¢nts of the Chariti¢s A¢t 2011 (the 2011 Art). I report irt FC4)tct of my examination of ib¢ Chity'S financial ststements carried out under s¢¢tion 145 of the 20E l Act. In c8ryirts out my exgJnination I have followed all the applicabl¢ Dir¢ctLODS given by the Clwity CommÈssion undet se10n 145(5Kbl ofthe 2011 ACL Xndependtnt tx*min¢r'$ Statement I have G(>mpleted my ex2min2ti0fL I confirni that tto tnatrtrs have come to my att¢tttioTr in connection with the examination givin¢k mc causc kn believe that in aThy matertal T¢$P¢d.. acci)unting records were not kept in KSPXt ofthe charity as requirtl by section 130 of the 2011 A¢ or the financial statem¢ttts do not accord with those retords.. or tb¢ financial staiements do ttot ¢omply with thc applieAble requirwnents concerning th¢ form and content of a¢¢ounts sd out tn the Charitie5 {Accounts and Reports) R¢gulations 2008 other than any requiremcnt that th¢ acts)untB wve a tN¢ and fair view which is not amat¢¢r ¢orssid¢Ted part of an independent examination. I have con¢ems And have come across no othw Tnatters in connection with th¢ eXninatIon to which attention should be drawn in this r¢rt in order to enabl¢ a propcr tmd¢rstanding of th¢ finan¢iai staternts to bt reach D8rr¢n HdJngACA FCCADCIL4 Rich Place DobsorA Services Litnited 1-7 Station Road Crawley W¢st Sussex RHIO IHT Dat¢d'. pag¢ 3
THE CHARrrY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES STATEMENT OF FINANCIALACTIVITIES INCLUDLNG INCOME AND EXPENDITURE ACCOUNT FOR TIIE IEAR E]VDED 31 DECEMBER 2024 Urtre5tr&cted Uttre5tridtd fuNds gemtral designated Totsl Unrestrictsd Ullr¢stri¢ted fuhds d5 general dtsignattd 21ll3 2023 Totxl 2024 2024 2024 2023 Notes Itteome and ¢ndowments from: Donation5 lega¢ies Invesrments Oth¢r income 100 80 8ri 370 24.893 774 774 29,444 370 29,444 24,893 Total itteome 29,544 774 30,318 24.973 370 25,343 Expexdite oll: Raising fvnds Charitable attivities 27,794 7.189 27.794 59,919 26.067 7.189 26,067 59,136 52.73Q 51.947 Totsl ¢xpenditure 51730 34.983 87,713 51.947 33,256 85203 Nct g&in51llosse51 on invcsttncnts 12 180,511 180.511 158.790 158.790 Net intomel(txpettditur¢) (23.1861 146.302 123,116 {26.974) 125,904 98,930 TT¥nsfrrs between fijnds 13500 {13.5001 Net mov¢m¢Rt in funds {9,686) 132,8Q2 123,116 (26,974) 125.904 98,930 Reeotsciliation of funds: Fund balances at i January 2024 104.160 3.071 J99 3,175.559 131,134 2,945,495 3,076.629 Fud balantes #tjl Dettb¢r 2024 94,474 3,204201 3.298,675 104,160 3,071,399 3,175,559 The stsiement of financial a¢tivitie5 includes ail gains and losse5 recognised in the year. All in¢ome and ¢xp¢nditure deriv¢ from ¢ontinuitLg activities. pag¢ 4
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES BALANCE SHEET ASA T31 DECEMBER 2024 2024 2023 Notss Fixed assets Tangible &qs¢ts Investments 14 Is 734,489 2.525,824 730,009 2.385,833 3,260,3 13 CurrEUt assets Cash at b2Ak ond in hand 3.115,842 47,287 65,356 Credltors.- amounts falling due wlthltt year 17 {7,724) 15,639) Net cmrrellt wets 39563 59.717 Totsl w¢ts leu eurrtttt Itxbilities 3,299,876 3.175,559 Creditors- amoullts f¥lling due ifter more tbatt olle yÈgr 18 11.201) Net 4$$ets 3,298,675 3,175,559 The funds of thè ¢harity Utjrestricted fund%- swcrdl Urtres¢TiGted fund8- designated 20 19 94.474 3.204,201 104,160 3.071.399 3.298,675 3,175.559 Th¢ fLnatLcial ststements were approved by the rrustees on.... . Moiher M Curran Trustee pag¢ 5
THE CHAIUTY OF THE CONTEMPLATIVE PASSIONtST NUNS MIYJ ISTERACRES NOTES TO THE FINANCJAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢ountiDg polities Charity iuformatioll The Charity of the Cotrtemplativc Passionist Ntts Mtiiisttra¢re5 is ¢Iltable tNst. The prin¢ip8] address is Mo]wt¢ry of our Lady of Hope. Min5teracres, Near Consetl Co. Durham. DH8 9RT. 1.1 AtcouhtiDg convention The fllwi¢iaI #atem¢nts havc bcen prepared in accordall¢¢ with the charity's Trtt Dee<L the aTItl¢S Art 2011. FRS 102 The Financial ReFOrting Standard applicable in the UK w]d Republic of Ir¢iand" I"fRS 102-1 a%Jd th¢ Chasities SORP "Aceounting and Reporting by Charitie5.' Ststemcni uf R¢Cor[ended Pra¢ti¢¢ applicable io tiwities preparÉn8 their ac¢ounts in accorthnce with the Fittgmciaj Rcportirtg 8tandaTd appltcable in th¢ UK gmd Republic of ITeland (FRS 102}. leff¢aiv¢ l 20191. The dwity is a Public B¢nefit Entity defined by FRS 102. The tlttrity h45 taken advan¢88¢ of the provisions in the SORP for ciwities not to prware a Statem¢n¢ of Cash Flows. Th¢ final1ci st2tements have departed from thc Ch£rities (Accounts and Reports) Regulations 2008 only to the ¢xt¢nt required to provide a and fair view. This d¢parture has involved following the Staicmcnt of Rccommended Practs¢¢ for charities applying FRS 102 rathcr than the version of the Sia(emertt uf RecoTomended Pr2Cii¢¢ whith is ref 10 the R¢gulations but which has since withdrawn. The fInancial statements are prepard in sterling, which is th¢ fim¢tiotI currency of the ¢hgrity. Monetary amoLEnts in thcsc fijLia1 statements gr¢ rounded to th¢ neaTest £. 1.2 GoiDg concern At thc time of approving ihe financial stateTnCtJts, the trusteu hav¢ a rea50nablc eXpecl0 that the charity has ad¢quate rcsourccs tu continue in operational ¢xistencc for the forcsttable firture. Thu5 the trL]Stee5 continue to adopi th¢ goitkg convm basis of accounting in prepating th¢ financiaI s(attmettt& 1.3 Charitable funds Urtr¢strict¢d funds are available for use at the discretiotL ofthetru8tees in fithre oftheir clwitabl¢ objectives. Desigttated fiujds are ihosc s¢t &%ide 3s deteTmÈned by the trust¢e& Furthcr cxplanation of the nawre and purpos¢ of each fund is includd in thc notes of th¢ financial statemenrs. 1.4 Intomè Income is r¢wgnised when the ¢harity is l¢gdly entitlcd to it after pformanc¢ Gonditions have been mel the amounts be me&$ud rcliably, and xt is probable that incosne w511 be received. DoftatiOTL8 gft rccoguised wh¢n the charity has reccived norificatiot2 ofboththe amount 8a]d settlement date. Income from dwrtiable activities repres¢nts state pensions received for eath 3iSter and 1$ reCognis when Tt is receiv&l. Other illWrn¢ T¢presents amounts rxeived from ofgem in relition to th¢ Renewable Heat Interttiv¢. 1.5 Expenditur¢ Liabilities are recognised as ¢xp¢nditure as soon as thttt is a legal or constructive obligation Committing the dtsrity to that expenditure, it is probable that & transfer of ecortorni¢ b¢ncfits will be required in settlement and rhc atnount of the obli2ation can be TneasuTed reliably. Expenditure is accounted for on att a¢¢ruais b&8is and has been (1]ried under h¢adings that aggregate all cost related to the catC80ry. Where w5ts cannot be directly atttxbuted to partiadar htadfftgs th¢y have been allottted to activities orÈ ab&%É3 consistent with the use of resources. pag¢ 6
THE CHARITY OF THE COIYTEMPLATIVE PASSIOLYIST NUNS MINISTERACRES NOTES TO THE FINANCIAL STATEMENTS (CONTIIYUED) FOR THE YE4R ENDED 31 DECEMBER 2024 Att0ting policie5 (Continutd} 1.6 Txngible red assets Tangibl¢ fIxed &8sets are initially me&8ured at cost and SubseqendY mwured at cost or Y&lUatiO net of deprcciation and arty impainn¢nt losses. Depreciaiion is recognised so as to writ¢ off the cost or valuation of assets 1¢95 their residual values over their weful lives on the followfftg bascs-. Land 3na buildings Fixwr¢s, fittirtgs & equipment Motor vchi¢les TQ/ts Straigbt lirte IOYO rEducing balan¢¢ 250/q reducing balance The gain or Ios5 EsIng on the disposal of an tqsrf is determined a5 the difference b¢twcen the 8a1¢ prncccds and the ¢gnying value of the a%seL and is recog#ised in th¢ statement of financial activities. 1.7 Fixed asset illVt5tments Fixed a5S¢i itiVCSttn¢nts are ioitially measurd at tratt$aGtion price exGluding trgn5action costs, #nd 8re subsequtntly measured at maTket value at eath [qrttng da Chang¢s in markct value are re¢ogntsed in net incomcl(¢xperEditur¢l for th¢ year. Transa¢taon costs ate eXPeed 0$ incurred. 1.8 Impairment of fts¢d assets At each r¢porting end dat¢, the charity rewews the ¢atrying amounts of its t&ngible &%seLS to deterniine whether the 1$ y indicion that those assets have $uffered an impaiTment loss. If 3Dy such indi¢arion &St4 the recoverable amount of the SeL is estimated iti ordcr to detetmifje the extent of the impairm¢nt loss (if any). 1.9 Cash knd equivalents Cash represents amounts h¢ld on Short term deposi¢ a¢wunts and 1$ measured as the actual amount of ca8h held th¢ acwunt. BasiefEn&nciulliabilld&¥ Creditors arc recogllised wher¢ thc charity has a present ¢blKgation resuttiog from a past event t[t will probably result in -ts af fidS to a third porty and the amount du¢ to settle the obligation can he measured or esi(ma(ed r¢liably. Creditors 2re nomially reco1$¢d at th¢ir scttlement amount after allowing for any discounts due. 1.10 TaxAtion Thc ch*rity is exempt from tLx on its tharitable activities. 1.11 Employee betyeflts The wst of any tsnus¢d holiday entitlement is tnISed in the p¢riod in which the ¢mployee'$ scrvices 8re re¢¢ived. T¢rnLination bctteffts are reco)1$¢d immediately as ¢xpMse wh¢n the eharity is delnonstrably commÉtt¢d to terminat¢ ¢tL¢ ¢mploymcnt of an employee or to provide (emiination b¢n¢fKts. 1.12 Foreigti ¢xchange Assets and liabilities in foreign Gurrenci are trlIated into s(¢rling ai the ntes of change nding at th¢ batance sheet date. Tran5actTQn5 in foreign currencies are traTaslated into 5tcrling ai the Atc of eXth ruling at the date of tran8aGtion. Exchange diffcrcnces are taken to the Statllent of fjnartcial acitvit2¢5. Costs of ch8Ti(abl¢ activities ar¢ Incu¢ on the ¢harity's OlWtiDll4 including SUPFQrt costs and c05L8 relating to the goveman¢¢ of the charity apportioned to c&8Titabl¢ acttvities. Govemaoce costs include costs incurred in d¢aling with the legal and admÈnistration duties of the ch3rtty and recol$ed when ineurred. These ar¢ now includcd within support costs and allocated to direct ch9ritabl¢ a¢tivitLes. page 7
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST IYUNS MINISTERACRES NOTES TO THE FINANCIAL STATEMENrs (coNrINUED) FOR THE EE4R ENDED 31 DECEMBER 2024 Accounti¥ polities {Continuedl 1.13 Realised g*ltts and 10ss¢5 All gains and losses are taken to the statement of firwicial adivities &s they arise. Realistd gwns attd losses o invcsttnents ar¢ ¢alculattd as the diff¢r¢nce benveen sales p]oceeds and th¢ir opening ¢arrytng value or the purChC valuc if alltred subscqucnt to the first day of the financial year. Unreali$¢d gains and losses ar¢ calculated as the difference between the fair value at the Ye end atLd th¢ tatrying value. Realised &TLd unTeali$ed itkvestmcnt gains and losses ar¢ combined in th¢ Statemtnt ofFinatt¢ial ActiVLues. Criti¢#l aecountlttg e5tÉmates ld judgetttexts In the application of the charity's accounting policies, thc ttustses art rcquir¢d to make judgements. estimates and a5%umptions aboui the carrying amount of assets and liabilities that are not readily appatcnt from other sourG&S. The estiJrLates and asswiated 18sumptions are bgsed on historica] experi¢nce 2nd other factor$ that are consid¢red lo be r¢l¢v#llL Actu resylts may diff¢r from these cstimatts. The es(imat¢5 and underlying assumptions e reviewed on an ongoing basis. Rcvi5É0ns to a¢Munitng Estimates ar¢ recognised in lh¢ period in wltich the estiTnatc is revised wherc thc revision affects only that period. or in th¢ period of the revision and futtjre periods wherc the revision affrcls both curreA¢ aTLd future periods. Residu cstimatrd vaIu¢ of land 2nd building is in axcess of Cost tkn prop¢rty is not being impalred. Income from ddh#tioDs alld legacits UllrestrRthd fitDd5 UDrestri¢t¢d fund$ 2023 2024 Don8110 8ifts IIK so Imeome frorn Investments Uarestritted Ullre3trict¢d funds fiEnd$ desixmated designated 2024 2023 Intsrest receivabl¢ 774 370 page 8
THE cHARy OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES NOTES TO THE FINANCIAL STATEMENTS (CONTIPIUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Oth¢T incomè Unrestri¢ted Utsrestiicted fllttd$ fullds 2024 2023 Nei gain on disposal of tan8ibl¢ fixed assets OttLtr income SiEters penston 3.910 4.052 21,482 5,595 19,298 29,444 24,893 Expenditur¢ orA ralslttg ndS urÈstrIcted Unrestrithd funds futhds designat¢d dtsignated 2024 2023 Itive5tment maAagcmcnt 27,794 26.067 page 9
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MtNISTERACRES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE IE4R ENDEII 31 DECEMBER 2024 Expenditu ¢h#rit#bl¢ adisryties Dirtet Charitable E%penditure Charitable Expenditure 2024 2023 Dsrect Costs Depreciation and llnpairment Rates and watcr Insur&nce Light and heat Telephone Postagt and stationery Sundries Charitable donations Motor travclling expenscB SisteTS ncds Repairs m2inienance M¢diG•l Compuier expenses Licences 16.929 774 1,892 {587) 845 191 1,100 3,359 994 18.395 5,249 4.047 50 170 15,218 388 2,798 4,078 1,498 1778 102 15.722 3.526 5,368 497 53.408 52,659 Share of 511PPOrt and governance costs (see ttote 81 Support Governance 191 6J20 95 6.382 59.919 59,136 Anatysis by fund Unr¢5trÉcted fund5- general Unre8tri¢t<l furt&%- d¢$ign#t¢d 52,730 7,189 51,947 7.189 59,919 59.136 pe 10
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES NOTES TO THE FINANCLAL STATEMENTS (CONTINUED) FOR THE IFAR ENDED 31 DECEMJYER 2024 Support costs Sllpp•rt costs Goverllante 2024 SUpprt Costs Gov¢rnance costs 2023 Bank charges Loan interest 126 65 126 65 95 95 Independent ¢xaTnincr fees Legal and professionaj 6,320 6.320 742 742 191 6320 6,511 95 6,382 6,477 ADaiy5ed bctsveen Charitable activities 191 6.320 6,511 95 6,382 6.477 Governance eosts includcs pay]n¢nts to the independ¢ttt ¢xgmitkers of £2.400 {20- £2,41K>) ror accounts prtP8rntion and independ¢nt examination. Net movement th futtd$ 2024 2023 The net mtsvcmcnt in fijnds is stated after cha4itW(¢r¢diting): Fets ptysble to the charity's independent examiner: - for thc indcpendent examinauon of th¢ ch[S fLnancial statements - for other financial servic D¢pre¢iation of owned Langrible fixed a%set$ Profit on disposal oftangible fixed ass¢ts 2,40Q 3,920 16.929 {3,9101 2,400 3.240 15.218 10 Trnstees Non¢ of th¢ trusttts (or any persons ¢onneKtrd with them) Te¢eived any remulleration during the year. Trn$tees' expenses Thc ttustees tre also members of the community. mnber$ of th¢ ¢ominunity are maintatned by th¢ dwity and the cost of PT¢mis¢s, mc2]s gnd othtr IiviDg axe$ in r¢sp¢ct of e4ch sister art paid by the oharity. li Employ¢e5 2024 Number 2023 Number Total page 11
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES NOTES TO THE FINANCIAL STATEMEwfs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 IZ Net gainsl(losses) on ittvtstmcnts Utttrkted UTrrestritted flllld$ funds D¢signatsd Designate41 2024 2023 Revaluatioo of investments Gal(10$$) on sale of invcstsncnts 176,182 4,329 155,820 2,970 180.511 158.790 13 Taxation The charity is exempt from tatIOn on its activities b¢¢ause all its incom¢ is applied for chariiable purpos¢s. 14 T•llgible fixed xs5¢ts Lgnd irydTrlxlurt4 fithllgs Motorwthletts build$£$ & equiptl1 Totsi Cost At l Jattuary 2024 Additions Disposa]s 730.000 73.888 3 1,985 30.450 (16.5301 835,873 30.450 (16 J301 At 31 December 2024 730,000 73,888 45,905 849,793 Dep¢tion And impgirrttetst At l January 2024 Depreciation charged in the year Eliminated in respect of disposels 44.434 7,189 48.719 2,517 12,711 7,223 17.4891 105,864 16,929 (7,4891 Ai 3 1 Dccetnber 2024 51.623 Sl236 12.445 115.304 CarryiAg amollnt At 31 DeMber 2024 678.377 21652 33,460 734.489 At 31 December 2023 685.566 25.169 19.274 730.Q09 On completion of the buildin8 work the projw was vatued at £730,OIMI. On Jdoption of FRS 102 th¢ tne¢S have ¢l¢¢£ed io adopt this valuation &8 deemed COSL pa8e 12
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE IE4R E]VDED 31 DECEMBER 2024 15 Fixed *skt investmtllts Llrt¢d investmtnts Cash in portfolio Totsl Cost or y4110 At l J2nutry 2024 Additions Valuation changes Intome Purchzses Di5posaJs 2,350296 23,106 176,182 35,537 2,385.833 23,106 176,182 57,801 (64.4001 (52,6981 57.80I {64.400) (52.698) At 31 December 2024 2,496,686 28,938 2.525.824 C8rrying amount At 31 Dtcember 2024 2,496.886 28,938 2,525.824 At 31 Dccember 2023 2,350,296 35.537 2J85,833 H5Morical Costs At 31 December 2024.. £1,514.297 At 31 Decctnber 2023= £1.507.592 There w¢r¢ no invE5tsnent &ssets outsideth¢ UK. The following itEves(m¢nts wtte h¢ld that reprts¢nted over 5Y• of portfolio holdings.. Dime]loal Globd Core Equity D A¢¢- 16.52•/0116.32Q/o) Dim¢rEsional Global Short Dates BdA¢c. 59.37Vlo159.OW/o) Dimen5iunaJ Global T8rEeted Value D Acc- 16.210/o116.52Q/y RevaLuatignres¢Tv¢ of £982,58812023.. £842,704) ar¢ included in desiled fvnds. 16 Loans overdvAfts 20Z4 2023 Other loans 3,777 Payable withtn one year Paytbl¢ afitr onc year 2.576 1,201 The long-tenn loans are secured by fixed char8¥. A loatl of £5,000 has provided by a fLnancial servic¢3 ¢ompany who have charged iniewton the loan. The loan is for a ¢ar and is ovcr a terni of 24 monthly payM¢nts with an intcrcst rate of2.5/fj pa. The rst repaym¢nt wos made on 5th July 2024. page 13
THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES NOTES TO THE FINANCIAL STATENrs (CONTINUED} FOR THE YE4R ENDED 31 DECEMBER 2024 17 Cr¢ditors: amounts fillltti dve within otte y¢¥r 2024 2023 Bormwings Other rr¢ditors A¢¢n$ and d¢ftrr¢d income 2,576 2,029 3.119 1.322 4,317 7,724 5,639 18 Credittsrs: amounts falling due afttr mort one yvdr 2024 2023 Borrowings 1.201 19 Unrestricted fund$- dtsign¥ted Thr$¢ ut]restricted fiJnd8 whieh ate m&t¢ri8J to the Gharity's activities. At l J211U¥ry 2024 Intoming re50urees Resources ¢xp¢od Tramsfers Gains 84dAt 31 December lo55es 2024 Investment Fund Land and Building Fund 2.3S5,833 774 (27.794) 113,5001 180,511 1525.824 685,566 {7,1891 678,377 3,071,399 774 (34,9831 (13.500) 180,511 3,204201 Previous year. At l J¥ryuY4ry 2023 Rp50urces ¢Ended TrAusfers G#itt$ audAt 31 December lo$$es 2023 rtsourees Investment Fund Land and Buildin8 Furtd 2,252,740 370 126.067) 158.790 2.385,833 692,755 17,1891 685.566 1945.495 370 (33,2561 158.790 3.071.399 Th¢ Investments Fund is s¢t a¥idc to provid¢ incotne for the ongoing needs of th¢ sistcrs in their ttXiniStri¢5 and ongoing care. The Lortd and Bu2ldEngs Fund is Sd Lsidc to ECPTesent the d]8Tity'5 use of the l¥md and buildittgs in pur5uanc¢ of its ¢haritable objectives. pag¢ 14
THE CHAIUTY OF THE CONTEMPLATIVE PASSIONIST NUNS MtNISTERACRES NOTES TO THE FINANCIAL STATEMENTS (COIYTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 Ullrestricted fttdS Th¢ unrcstricted fid5 of the rharity comprise thc unexnded baI#JJces of dojjaiions attd gT¥Jts which *e noi subj2Ctto specific conditions by donor5 and Erat)tor5 as to how they may b¢ used. These include d¢signated fvnds which hav¢ been set aside out of unrestricted funds by the trustees forspecific purposes. At l Incomiag rtsources Resourcts expended TrAnsf¢rsAt31 DétÈmber 2024 2024 General fimds IIU,160 29,544 (517301 13,500 94,474 Previous year. At l January 2023 Resour¢ txpmdtd Tratt5fersAt 31 Deeembtr 2023 rtsottrces Gen¢raJ fiJnds 131,134 24,973 151.947) 104,160 21 Anaty5is of xét4ssets betw¢¢D funds Uknreshicttd Unrestricted funds de5igttAted 2024 Totsl general 2024 2024 At 3] December 2024: Tangible assets Lnvcsttncnts Current assetsllliabilttics) Long term liabilities 56,112 678,377 2,525.824 734.489 2,525,824 39,563 {1,2011 39.563 94,474 3,204,201 3,298,675 Unrestrleted Unrestricted funds fund5 genernl designated 2023 Total 2023 2023 At 31 December2013: Tangible 555cts Investments Current 8ssetsllliabilitLesl 44.443 685,566 2,385,833 730,009 2.385.833 59,717 59,717 104.160 3,071,399 3.175.559 pag¢ 15
THE CHARtTY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES NOTES TO THE FINAIYCIAL STATEMENrs {coiYrINUED) FOR THE ENI)ED 31 DECEMBER 2024 22 Related p*rty traMs#etions There were no disclD5able relai¢d paty trarisactions duringtheyear (2023 - non¢l. page 16