2024-12-31-accounts - Institute Of Daughters Of Mary Help Of Christians, Otherwise Salesian Sisters Of St John Bosco

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F M A TRUSTEES LIMITED

(Registered Company No: 854256)

FINANCIAL STATEMENTS

31 DECEMBER 2024

HaysMac LLP Registered Auditors London

F M A TRUSTEES LIMITED

COMPANY INFORMATION

Registered office:	10 Queen Street Place
	London
	EC4R 1AG
Company Number:	854256
Directors:	Bernadette Cassidy
	Pauline Clark
	Elizabeth Bridget Purcell
	Breda Byrne
	Gillian McCambridge
	Isabella Geraghty (appointed 13 December 2024)
Auditors:	HaysMac LLP
	10 Queen Street Place
	London
	EC4R 1AG

F M A TRUSTEES LIMITED

DIRECTORS' REPORT

The Directors have pleasure in submitting their annual report, together with the accounts of the Company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The Company conducts no form of trade; it acts purely as Custodian Trustee to the Daughters of Mary Help of Christians (Salesian Sisters of St. John Bosco) - registered charity No. 250888.

The nature of the Company's function did not change throughout the period.

DIRECTORS

The Directors who served during the year and up to the date of this report, together with their shareholdings at the beginning and the end of the year, all held non-beneficially, were as follows:

he Directors who served during the year and up to the date eginning and the end of the year, all held non-beneficially,	of this report, together with their shareholdings at the were as follows:	of this report, together with their shareholdings at the were as follows:
	Number of shares
	2024	2023
Bernadette Cassidy	2	2
Pauline Clark	2	-
Elizabeth Bridget Purcell	1	1
	=====	=====

F M A TRUSTEES LIMITED

DIRECTORS' REPORT

STATEMENT OF DIRECTORS’ RESPONSIBILITIES

The directors are responsible for preparing the Directors’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

So far as each of the directors is aware at the time the report is approved:

there is no relevant audit information of which the company's auditors are unaware; and
the directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

On 18 November 2024 the company’s auditor changed its name from haysmacintyre LLP to HaysMac LLP.

SMALL COMPANY EXEMPTIONS

In preparing this report the directors have taken advantage of small company exemptions.

By Order of the Board

Bernadette Cassidy

………………………………… Sister Bernadette Cassidy Director

31 July 2025

INDEPENDENT AUDITORS’ REPORT TO THE SHAREHOLDERS OF FMA TRUSTEES LIMITED

Opinion

We have audited the financial statements of F M A Trustees Limited (the ‘company’) for the year ended 31 December 2024 which comprise the Balance Sheet and related notes. 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:

give a true and fair view of the state of the company’s affairs as at 31 December 2024 and of its result for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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 company 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

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

the directors’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The directors are responsible for the other information. Our opinion on the financial statements 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 financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements 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 financial statements 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors’ report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

INDEPENDENT AUDITORS’ REPORT TO THE SHAREHOLDERS OF FMA TRUSTEES LIMITED

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the directors’ responsibilities statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company’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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements 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 financial statements.

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 charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with Company Law and we considered the extent to which noncompliance 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 the Companies Act 2006.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that there were no principal risks. Audit procedures performed by the engagement team included:

Review of Companies House and shareholder information.

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 auditor’s report.

INDEPENDENT AUDITORS’ REPORT TO THE SHAREHOLDERS OF FMA TRUSTEES LIMITED

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members 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 company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jane Askew (Senior Statutory Auditor) 10 Queen Street Place For and on behalf of HaysMac LLP, Statutory Auditors London EC4R 1AG

Date: 4 August 2025

Company Number: 854256

F M A TRUSTEES LIMITED

BALANCE SHEET

AT 31 DECEMBER 2024

	2024	2023
	£	£
CURRENT ASSETS
Debtors	6	6
	----------------	----------------
TOTAL ASSETS	£6	£6
	========	========
CAPITAL AND RESERVES
CALLED UP SHARE CAPITAL
Authorised
100 Shares of £1 each	£100	£100
	========	========
Allotted Issued and fully paid
6 Shares of £1 each	£6	£6
	========	========
Approved by the Board and authorised for issue on 31 July 2025

Bernadette Cassidy

……………………………….

Sister Bernadette Cassidy

P Clark

……………………………… Sister Pauline Clark

PROFIT AND LOSS ACCOUNT FOR THE YEAR TO 31 DECEMBER 2024

No transactions fall to be recorded in this or the previous period.

STATEMENT OF ACCOUNTING POLICIES

The financial statements have been prepared in accordance with applicable accounting standards under the historical cost convention.

NOTES TO THE FINANCIAL STATEMENTS

1. Related Party Transactions

The company conducts no form of trade; it acts purely as Custodian Trustee to the Daughters of Mary Help of Christians (Salesian Sisters of St John Bosco) registered charity no 250888. The directors are also trustees of the Salesian Sisters of St John Bosco.

None of the directors received any remuneration in the year or in the previous year.