**Charity registration number 238148**
## **THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2025**
## **THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mother M Curran||
|---|---|---|
||Sister P Story||
|**Charity registration**|England and Wales|238148|
|**Principal address**|Monastery of Our Lady of Holy Hope||
||Minsteracres||
||Nr Consett||
||Co. Durham||
||DH8 9RT||
|**Independent examiner**|Darren Harding ACA FCCA DChA||
||Richard Place Dobson Services Limited||
||Ground Floor||
||1-7 Station Road||
||Crawley||
||West Sussex||
||RH10 1HT||
## **THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 16|
## **THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
The trustees present their annual report and financial statements for the year ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
## **Objectives and activities**
The charity is established for such charitable purposes which advance the religious and other charitable work carried on by or under the direction of the Society. In so deciding what activities to undertake the trustees have paid due regard to the Charity Commission's current guidance on public benefit including guidance on advancement of religion.
The objective's of the charity are to provide both sanctuary and spiritual advice to other religious orders and the public for the good of the communities the charity serves, to assist those in need and to promote the word of God and the worship of Our Lord within the scope of what is charitable.
## **Public benefit**
The charity's trustees have referred to the guidance in the Charity Commission's general guidance on Public Benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, they have considered how planned activities will contribute to the aims and objectives they have set.
## **Achievements and performance**
The charity puts faith into practice promoting the whole mission of the Church, pastoral, evangelical and social, by prayer, scripture, sacramental life and selfless service. During the year the work of the charity has been directed towards:
- Support of the Roman Catholic Church in its mission concerning the welfare and protection of children and vulnerable adults within the community.
- Making available religious counselling, particularly for those facing their own life crises or helping others with their difficulties.
## **Financial review**
The charity had net incoming resources for the year of £74,146 (2024: Net incoming resources £123,116).
## **Reserves policy**
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between twelve and twenty-four months months expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.
## **Investment policy and objectives**
Investment strategy is managed by the charity's investment advisors who take into account its income requirements, the risk profile of the investments and their view on the market prospects in the medium term. This strategy is set within an overall policy, which requires funds to be invested in low and medium risk investments
## **Structure, governance and management**
The charity was established by a charitable trust deed on 4 November 1964 as amended by resolution passed under section 74D of the Charities Act 1993 as amended by the Charities Act on 6th January 2019.
page 1
## **THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
The trustees who served during the year and up to the date of signature of the financial statements were: Mother M Curran Sister P Story Mother R Cappelletti (Deceased 13 March 2026)
Trustees are selected from fully professed members of the Congregation and they are introduced to the role and the responsibility of being a trustee by attendance at meetings.
## **Risk**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees' report was approved by the Board of Trustees.
..............................
**Mother M Curran** Trustee Dated: .........................20 August 2026
page 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 report to the trustees on my examination of the financial statements of The Charity of the Contemplative Passionist Nuns Ministeracres (the charity) for the year ended 31 December 2025.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **Darren Harding ACA FCCA DChA**
Richard Place Dobson Services Limited Ground Floor 1-7 Station Road Crawley West Sussex RH10 1HT Date: ............................21 August 2026
page 3
## **THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**Unrestricted Unrestricted**
**funds**
**funds**
**general**
**designated**
**2025**
**2025**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
320
-
Investments
**4**
-
752
Other income
**5**
26,996
-
**Total income**
27,316
752
**Expenditure on:**
Raising funds
**6**
-
28,684
Charitable activities
**7**
76,020
7,189
Other expenditure
**12**
19,222
-
**Total expenditure**
95,242
35,873
Net gains/(losses) on
investments
**13**
-
177,193
**Net income/(expenditure)**
(67,926)
142,072
Transfers between funds
39,500
(39,500)
**Net movement in funds**
**9**
(28,426)
102,572
**Reconciliation of funds:**
Fund balances at 1 January 2025
94,474
3,204,201
**Fund balances at 31 December**
**2025**
66,048
3,306,773|**Total**
**Unrestricted Unrestricted**
**funds**
**funds**
**general**
**designated**
**2025**
**2024**
**2024**
**£**
**£**
**£**
320
100
-
752
-
774
26,996
29,444
-
28,068
29,544
774
28,684
-
27,794
83,209
52,730
7,189
19,222
-
-
131,115
52,730
34,983
177,193
-
180,511
74,146
(23,186)
146,302
-
13,500
(13,500)
74,146
(9,686)
132,802
3,298,675
104,160
3,071,399
3,372,821
94,474
3,204,201|**Total**
**2024**
**£**
100
774
29,444|
|---|---|---|
|||30,318|
|||27,794
59,919
-|
|||87,713|
|||180,511|
|||123,116
-|
|||123,116
3,175,559|
|||3,298,675|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
page 4
## **THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2025**_
|**Notes**
**Fixed assets**
Tangible assets
**15**
Investments
**16**
**Current assets**
Debtors
**17**
Cash at bank and in hand
**Creditors: amounts falling due within one**
**year**
**19**
**Net current assets**
**Total assets less current liabilities**
**Creditors: amounts falling due after more**
**than one year**
**20**
**Net assets**
**The funds of the charity**
Unrestricted funds - general
**22**
Unrestricted funds - designated
**21**|**2025**
**£**
1,948
37,472
39,420
(10,081)|**£**
707,897
2,635,585
3,343,482
29,339
3,372,821
-
3,372,821
66,048
3,306,773
3,372,821|**2024**
**£**
-
47,287
47,287
(7,724)|**£**
734,489
2,525,824
3,260,313
39,563
3,299,876
(1,201)
3,298,675
94,474
3,204,201
3,298,675|
|---|---|---|---|---|
The financial statements were approved by the trustees on .........................20 August 2026
.............................. Mother M Curran **Trustee**
page 5
**THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **1 Accounting policies**
## **Charity information**
The Charity of the Contemplative Passionist Nuns Ministeracres is charitable trust. The principal address is Monastery of our Lady of Hope, Minsteracres, Near Consett, Co. Durham, DH8 9RT.
## **1.1 Basis of preparation**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds are those set aside as determined by the trustees. Further explanation of the nature and purpose of each fund is included in the notes of the financial statements.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Donations are recognised when the charity has received notification of both the amount and settlement date.
Investment income includes interest received in relation to investments, and is recognised in the year in which it is receivable.
Other income represents amounts received from Ofgem in relation to the Renewable Heat Incentive and state pensions received for each sister. Both are recognised when they are received.
page 6
**THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Costs of charitable activities are incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
Governance costs include costs incurred in dealing with the legal and administration duties of the charity and are recognised when incurred. These are now included within support costs and allocated to direct charitable activities.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings 1% straight line Fixtures, fittings & equipment 10% reducing balance Motor vehicles 25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at market value at each reporting date. Changes in market value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **1.8 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.9 Cash and cash equivalents**
Cash represents amounts held on short term deposit accounts and is measured as the actual amount of cash held in the account.
## **1.10 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
page 7
**THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.
## **1.11 Taxation**
The charity is exempt from tax on its charitable activities.
## **1.12 Realised gains and losses**
All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if 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. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **Key sources of estimation uncertainty**
## **Investment value**
Valuation of investments at market value, based on calculation by the investment fund manager. The investments held are all shares listed on a recognised stock exchange and have an easily identifiable market value.
## **Land and Buildings**
Residual estimated value of land and building is in excess of cost and the property is not being impaired.
## **3 Income from donations and legacies**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Donations and gifts|320|100|
page 8
## **THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**4**|**Income from investments**|||
|---|---|---|---|
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**designated**|**designated**|
|||**2025**|**2024**|
|||**£**|**£**|
||Interest receivable|752|774|
|**5**|**Other income**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Net gain on disposal of tangible fixed assets|-|3,910|
||Other income|5,545|4,052|
||Sisters pension|21,451|21,482|
|||26,996|29,444|
|**6**|**Expenditure on raising funds**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**designated**|**designated**|
|||**2025**|**2024**|
|||**£**|**£**|
||**Investment management**|28,684|27,794|
page 9
**THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **7 Expenditure on charitable activities**
||**Direct**|**Direct**|
|---|---|---|
||**Charitable**|**Charitable**|
||**Expenditure**|**Expenditure**|
||**2025**|**2024**|
||**£**|**£**|
|**Direct costs**|||
|Depreciation and impairment|17,038|16,929|
|Rates and water|1,178|774|
|Insurance|2,047|1,892|
|Light and heat|5,574|(587)|
|Telephone|413|845|
|Postage and stationery|182|191|
|Sundries|332|1,100|
|Charitable donations|3,385|3,359|
|Motor and travelling expenses|9,706|994|
|Sisters needs|17,753|18,395|
|Repairs and maintenance|6,634|5,249|
|Medical|9,470|4,047|
|Computer expenses|328|50|
|Licences|-|170|
||74,040|53,408|
|**Share of support and governance costs (see note 8)**|||
|Support|249|191|
|Governance|8,920|6,320|
||83,209|59,919|
|**Analysis by fund**|||
|Unrestricted funds - general|76,020|52,730|
|Unrestricted funds - designated|7,189|7,189|
||83,209|59,919|
page 10
**THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **8 Support costs allocated to activities**
|||**Direct**|**Direct**|
|---|---|---|---|
|||**Charitable**|**Charitable**|
|||**Expenditure**|**Expenditure**|
|||**2025**|**2024**|
|||**£**|**£**|
||Bank Charges|185|126|
||Loan interest|64|65|
||Governance|8,920|6,320|
|||9,169|6,511|
|||**2025**|**2024**|
||**Governance costs comprise:**|**£**|**£**|
||Audit fees|7,920|6,320|
||Legal and professional|1,000|-|
|||8,920|6,320|
|**9**|**Net movement in funds**|**2025**|**2024**|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Fees payable to the charity's independent examiner:|||
||- for the independent examination of the charity's financial statements|2,400|2,400|
||- for other financial services|5,520|3,920|
||Depreciation of owned tangible fixed assets|17,038|16,929|
||Loss/(profit) on disposal of tangible fixed assets|19,222|(3,910)|
## **10 Trustees**
None of the trustees (or any persons connected with them) received any remuneration during the year.
## **Trustees' expenses**
The trustees are also members of the community. Members of the community are maintained by the charity and the cost of premises, meals and other living expenses in respect of each sister are paid by the charity.
## **11 Employees**
||**2025**|**2024**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
page 11
## **THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **12 Other**
|**Unrestricted**
**funds**
**general**
**2025**
Net loss on disposal of tangible fixed assets
19,222
19,222|Total
£
2024
-|
|---|---|
||-|
## **13 Gains and losses on investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**designated**|**designated**|
||**2025**|**2024**|
|Gains/(losses) arising on:|**£**|**£**|
|Revaluation of investments|177,772|176,182|
|Sale of investments|(579)|4,329|
||177,193|180,511|
## **14 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
page 12
**THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**15**
**Tangible fixed assets**
**Cost**
At 1 January 2025
Additions
Disposals
At 31 December 2025
**Depreciation and impairment**
At 1 January 2025
Depreciation charged in the year
Eliminated in respect of disposals
At 31 December 2025
**Carrying amount**
At 31 December 2025
At 31 December 2024|**Land and**
**buildings**
**Fixtures, fittings**
**& equipment**
**Motor vehicles**
**£**
**£**
**£**
730,000
73,888
45,905
-
-
11,579
-
-
(30,450)
730,000
73,888
27,034
51,623
51,236
12,445
7,189
2,265
7,584
-
-
(9,317)
58,812
53,501
10,712
671,188
20,387
16,322
678,377
22,652
33,460|**Total**
**£**
849,793
11,579
(30,450)
830,922
115,304
17,038
(9,317)
123,025
707,897
734,489|
|---|---|---|
On completion of the building work the property was valued at £730,000. On adoption of FRS 102 the trustees have elected to adopt this valuation as deemed cost.
## **16 Fixed asset investments**
|**Listed**
**investments**
**£**
**Cost or valuation**
At 1 January 2025
2,496,886
Additions
9,971
Valuation changes
177,772
Income
-
Purchases
-
Disposals
(61,466)
At 31 December 2025
2,623,163
**Carrying amount**
At 31 December 2025
2,623,163
At 31 December 2024
2,496,886|**Cash in**
**portfolio**
**£**
28,938
-
-
61,638
(78,154)
-
12,422
12,422
28,938|**Total**
**£**
2,525,824
9,971
177,772
61,638
(78,154)
(61,466)
2,635,585
2,635,585
2,525,824|
|---|---|---|
page 13
**THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **16 Fixed asset investments Historical Costs** At 31 December 2025: £1,487,936 At 31 December 2024: £1,514,297
## **(Continued)**
There were no investment assets outside the UK.
The following investments were held that represented over 5% of portfolio holdings: Dimensional Global Core Equity D Acc - 16.92% (2024: 16.52%) Dimensional Global Short Dates Bd Acc - 57.62% (2024: 59.37%) Dimensional Global Targeted Value D Acc - 16.75% (2024: 16.21%)
Revaluation reserve of £1,135,227 (2024: £982,588) are included in designated funds.
|**17**
**Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income
**18**
**Loans and overdrafts**
Other loans
Payable within one year
Payable after one year
**19**
**Creditors: amounts falling due within one year**
Borrowings
Other creditors
Accruals and deferred income
**20**
**Creditors: amounts falling due after more than one year**
Borrowings|**2025**
**£**
1,948
**2025**
**£**
-
-
-
**2025**
**£**
-
4,561
5,520
10,081
**2025**
**£**
-|**2024**
**£**
-|
|---|---|---|
|||**2024**
**£**
3,777|
|||2,576
1,201|
|||**2024**
**£**
2,576
2,029
3,119|
|||7,724|
|||**2024**
**£**
1,201|
page 14
**THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **21 Unrestricted funds - designated**
These are unrestricted funds which are material to the charity's activities.
|**At 1 January**
**2025**
**£**
Investment Fund
2,525,824
Land and
Building Fund
678,377
3,204,201
**Previous year:**
**At 1 January**
**2024**
**£**
Investment Fund
2,385,833
Land and
Building Fund
685,566
3,071,399|**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
752
(28,684)
-
(7,189)
752
(35,873)
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
774
(27,794)
-
(7,189)
774
(34,983)|**Transfers**
**Gains and**
**losses**
**At 31 December**
**2025**
**£**
**£**
**£**
(39,500)
177,193
2,635,585
-
-
671,188
(39,500)
177,193
3,306,773
**Transfers**
**Gains and**
**losses**
**At 31 December**
**2024**
**£**
**£**
**£**
(13,500)
180,511
2,525,824
-
-
678,377
(13,500)
180,511
3,204,201|**Transfers**
**Gains and**
**losses**
**At 31 December**
**2025**
**£**
**£**
**£**
(39,500)
177,193
2,635,585
-
-
671,188
(39,500)
177,193
3,306,773
**Transfers**
**Gains and**
**losses**
**At 31 December**
**2024**
**£**
**£**
**£**
(13,500)
180,511
2,525,824
-
-
678,377
(13,500)
180,511
3,204,201|
|---|---|---|---|
||||3,204,201|
The Investments Fund is set aside to provide income for the ongoing needs of the sisters in their ministries and ongoing care.
The Land and Buildings Fund is set aside to represent the charity's use of the land and buildings in pursuance of its charitable objectives.
## **22 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|**At 1 January**
**2025**
**£**
General funds
94,474
**Previous year:**
**At 1 January**
**2024**
**£**
General funds
104,160|**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
27,316
(95,242)
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
29,544
(52,730)|**TransfersAt 31 December**
**2025**
**£**
**£**
39,500
66,048
**TransfersAt 31 December**
**2024**
**£**
**£**
13,500
94,474|
|---|---|---|
page 15
**THE CHARITY OF THE CONTEMPLATIVE PASSIONIST NUNS MINISTERACRES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **23 Analysis of net assets between funds**
|**Unrestricted**
**Unrestricted**
**funds**
**funds**
**general**
**designated**
**2025**
**2025**
**£**
**£**
**At 31 December 2025:**
Tangible assets
36,709
671,188
Investments
-
2,635,585
Current assets/(liabilities)
29,339
-
66,048
3,306,773
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**general**
**designated**
**2024**
**2024**
**£**
**£**
**At 31 December 2024:**
Tangible assets
56,112
678,377
Investments
-
2,525,824
Current assets/(liabilities)
39,563
-
Long term liabilities
(1,201)
-
94,474
3,204,201|**Total**
**2025**
**£**
707,897
2,635,585
29,339
3,372,821
**Total**
**2024**
**£**
734,489
2,525,824
39,563
(1,201)
3,298,675|
|---|---|
## **24 Related party transactions**
There were no disclosable related party transactions during the year (2024 - none).
page 16