**Charity registration number 505305 (England and Wales)** ## **ASSOCIATION OF PARISH MISSION SISTERS** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2024** ## **ASSOCIATION OF PARISH MISSION SISTERS** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **Trustees** Sr Mary McAleese Sr Julia Battye Mr James Millington Mrs Christina Lindstrom Mr D Malone |**Charity number (England and Wales)**|505305| |---|---| |**Principal address**|8 Carr House Lane| ||Liverpool| |**Independent examiner**|Barlow Andrews LLP| ||Carlyle House| ||78 Chorley New Road| ||Bolton| |**Bankers**|The Royal Bank of Scotland| ||Liverpool Group of Branches| ||1 Hardman Boulevard| ||Manchester| ## **ASSOCIATION OF PARISH MISSION SISTERS** ## **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 - 9| ## **ASSOCIATION OF PARISH MISSION SISTERS** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ The trustees of, Association of Parish Mission Sisters (charity number: 505305), present their report and financial statements for the year ended 31 March 2024. The registered office of the charity is 8 Carr House Lane, Liverpool. 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 Memorandum and Articles of Association, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". ## **Objectives and activities** The charity's objectives are to benefit the inhabitants of the County of Merseyside without distinction of sex or of political, religious or other opinions. The policies adopted in furtherance of these objectives are the relief of poverty, advancing education and providing for the recreation and other leisure time occupation of the said inhabitants with the goal of improving their conditions of life. ## _Public benefit_ The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## _Activities_ Our work in local communities, directed towards those suffering poverty and social exclusion continued as before. Priority was given to educational work with women and to health-related activities. Each year the trustees review the objectives and activities of the charity to ensure that they continue to reflect our aims and to provide public benefit. The trustees are more than satisfied that they do. ## **Achievements and performance** ## _Significant activities and achievements against objectives_ Our objectives and activities as set out above are essentially the same for this year but we are still dealing with some of the after effects of the pandemic on the volunteers and local communities where we work. Added to this is the growing, devastating effect of the rising costs in the homes and families and in the loss of some local community resources, facilities and services. These situations have had an exacerbating effect on underlying chronic health conditions especially some of those engaged in our pastoral enterprise and this continues to be an unexpected impediment to the time and energy being given to daily involvement. Hence the constant need now to adapt and reprioritise to meet the new challenges arising and to make the best of present resources eg. more emphasis on the provision of basic food, clothing, personal needs and help to those struggling with finances and to those who have now become homeless. However, we derive hope and encouragement in seeing the emergence of new and younger people who are offering help and in the way in which Churches and public services eg. libraries have been opening up 'warm spaces' in their often unused properties. Basic transport remains a priority, on a daily basis, so the changing of our aging and deteriorating car became a necessary and crucial expense in April. The new vehicle appears as a motor vehicle addition in note 8. So, too, a similar and urgent need to replace the main door and garden entrance gate which show as a large expense in our repairs and maintenance category. ## **Financial review** For the year ended 31 March 2024 the charity recorded net income of £2,987 (2023: net expenditure of £18,588). The charity had unrestricted funds carried forward at 31 March 2024 of £166,441 (2023: £163,454) - 1 - ## **ASSOCIATION OF PARISH MISSION SISTERS** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## _Reserves policy_ As explained above, the charity carries out a variety of projects and the trustees must have a sufficient level of reserves to be able to fund their work. The trustees have examined the requirement for free reserves, which are those unrestricted funds not invested in tangible fixed assets, designated for specific purposes or otherwise committed. The trustees consider that, given the nature of their current work, free reserves should be at least £50,000. At this level, the trustees feel that they will be able to continue the current activities of the charity and be able to respond quickly to emergencies where immediate relief is needed. The level of free reserves at 31 March 2024 is £91,672, which the trustees consider is adequate to provide for all planned projects and continuity of day-today activities for the foreseeable future. ## _Investment policy_ The trustees invest funds surplus to immediate requirements in bank deposit accounts or other investment products where there is no risk to the capital invested. ## _Major risks_ The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Structure, governance and management** The charity is governed by its constitution which was adopted by the Charity Commission on 18 June 1976. The trustees who served during the year and up to the date of signature of the financial statements were: Sr Mary McAleese Sr Julia Battye Mr James Millington Mrs Christina Lindstrom Mr D Malone ## _Recruitment and appointment of trustees_ Trustees are recruited by personal referral. The potential trustee is interviewed and the appointment is made upon agreement by all the trustees. The trustees' report was approved by the Board of Trustees. Sr Julia Battye ## **Trustee** 10 January 2025 - 2 - ## **ASSOCIATION OF PARISH MISSION SISTERS** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF ASSOCIATION OF PARISH MISSION SISTERS** I report to the trustees on my examination of the financial statements of Association of Parish Mission Sisters (the charity) for the year ended 31 March 2024. ## **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. David Kay FCA Barlow Andrews LLP Chartered Accountants 78 Chorley New Road Bolton BL1 4BY Dated: 10 January 2025 - 3 - ## **ASSOCIATION OF PARISH MISSION SISTERS** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2024**_ |||**Unrestricted **|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Donations and legacies|**3**|33,011|40,272| |Investments||1,830|368| |**Total income**||34,841|40,640| |**Expenditure on:**|||| |Charitable activities|**4**|27,497|22,052| |**Net income for the year/**|||| |**Net movement in funds**||7,344|18,588| |Fund balances at 1 April 2023||163,454|144,866| |**Fund balances at 31 March 2024**||170,798|163,454| The statement of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - ## **ASSOCIATION OF PARISH MISSION SISTERS** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2024**_ |**Notes**
**Fixed assets**
Tangible assets
**7**
**Current assets**
Debtors
**8**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**9**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Unrestricted funds|**2024**
**£**
1,103
91,300
92,403
(731)|**£**
79,126
91,672
170,798
170,798
170,798|**2023**
**£**
646
98,570
99,216
(694)|**£**
64,932
98,522| |---|---|---|---|---| |||||163,454| |||||163,454| |||||163,454| The financial statements were approved by the trustees on 10 January 2025 Sr Julia Battye **Trustee** - 5 - ## **ASSOCIATION OF PARISH MISSION SISTERS** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **1 Accounting policies** ## **Charity information** Association of Parish Mission Sisters is an unincorporated charity governed by a constitution adopted on 18 June 1976. The registered office is 8 Carr House Lane, Liverpool. ## **1.1 Accounting convention** 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” (“FRS 102”) 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)" (effective 1 January 2019). 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 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. ## **1.4 Income** Income is recognised on a receivable basis and is reported gross of related expenditure, where the amount is reasonably certain and when there is adequate certainty of receipt. ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Charitable expenditure comprises direct expenditure directly attributable to its activities, as well as those of an indirect nature necessary to support them. - 6 - ## **ASSOCIATION OF PARISH MISSION SISTERS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **1 Accounting policies** ## **(Continued)** ## **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 provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: Leasehold buildings 2.5% straight line Equipment 20% reducing balance Vehicles 20% straight line 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 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). ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand. ## **1.9 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. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. - 7 - ## **ASSOCIATION OF PARISH MISSION SISTERS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **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. ## **3 Donations and legacies** |Donations and gifts
Covenant|**2024**
**£**
32,841
170
33,011|**2023**
**£**
40,152
120| |---|---|---| |||40,272| ## **4 Charitable activities** ||**Relief of**|**Relief of**| |---|---|---| ||**poverty**|**poverty**| ||**2024**|**2023**| ||**£**|**£**| |Depreciation and impairment|3,235|3,133| |Travel|407|47| |Gas|1,256|1,066| |Repairs and maintenance|5,831|2,519| |Community services|4,837|3,889| |Electricity|1,026|848| |General and water rates|1,882|1,718| |Insurance|945|543| |Telephone|831|574| |Books and stationery|1,087|1,393| |Catering|3,010|3,863| |Motor expenses|1,649|1,207| |Postage|768|570| |Accountancy|733|682| ||27,497|22,052| During the year the charity incurred independent examination fees of £733 (2023: £682). - 8 - **ASSOCIATION OF PARISH MISSION SISTERS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **5 Employees** The charity had no employees in this or the previous year. ## **6 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **7 Tangible fixed assets** |**Leasehold**
**buildings**
**Equipment**
**£**
**£**
**Cost**
At 1 April 2023
122,437
12,979
Additions
-
-
Disposals
-
-
At 31 March 2024
122,437
12,979
**Depreciation and impairment**
At 1 April 2023
57,736
12,907
Depreciation charged in the year
3,061
15
Eliminated in respect of disposals
-
-
At 31 March 2024
60,797
12,922
**Carrying amount**
At 31 March 2024
61,640
57
At 31 March 2023
64,701
72
**8**
**Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income
**9**
**Creditors: amounts falling due within one year**
Accruals and deferred income
**10**
**Related party transactions**||**Vehicles**
**£**
5,000
17,429
(5,000)
17,429
4,841
159
(5,000)
-
17,429
159
**2024**
**£**
1,103
**2024**
**£**
731|**Total**
**£**
140,416
17,429
(5,000)
152,845
75,484
3,235
(5,000)
73,719
79,126
64,932
**2023**
**£**
646
**2023**
**£**
694| |---|---|---|---| ||||| ||||| There were no disclosable related party transactions during the year (2023 - none). - 9 -