Statement of Fillallcial Activities
for the year ended 31" December 2024
Ullrestricted
funds
Restricted
fund5
2024
Total
2023
Total
Notes
Incoming resources
Incoming resources from generating funds:
Investment income
Incoming resources from charitable activities 3
Voluntary Income
Other Income
279,244
154,054
2,656,354
925,144
36
279280
154.054
2,656,354
925,144
232,353
84,637
2,845,740
409,312
Total ineomlng resources
4,014,796
36
4,014,832
3,572.042
Resources expended
Costs of generating funds-
Investment management costs
Charitable activities
49,337
4,752,967
49,337
4,752,967
52,429
4,702,397
Total resources expended
4,802,304
4,802,304
4,754,826
Iyet gxins/(losses) on Investments
Gain on Sale of Investment Properties
(Loss) / Gain on Investments
(205,947)
(205,947) (223,555)
(205,947)
(205,947) (223,555)
Net movement in funds
(993,455)
36
(993,419) (1,406,339)
Total ￿Trds brought forward
Prior year adjustment
19,420,903
103,075
19,523,978 21,148,318
(218,001)
Restated total funds brought forward
19,420,903
103,075
19,523,978 20,930,317
Total funds carrled forjvydrd
18,427,448
103,111
18,530,559 19,523.978
The state￿ent of fmancial activities includes all gains and losses in the year and therefore a separate
Statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
The notes on pages 46 to 54 form an integral part of these financial statements
43

Balance Sheet
as at 31" December 2024
2024
2023
Notes
Fixed assets
Tangible assets
Investments
io
5,905,007
10,353,399
6,866,904
10,925,918
16,258,406
17,792,822
Current assets
Debtors
Cash a+ kank and in hand
12
49,117
2,296,515
106,148
1,711,377
2,345,632
1,817,525
Creditors: amounts falllng
due within one year
13
(73,479)
(86,369)
Nel eurrent assels
2,272,153
1,731,156
Iyet assets
18,530,559
19,523,978
Funds
Restricted income funds
Unrestricted income funds
15
103,111
18,427,448
103,075
19,420,903
Total funds
18,530,559
19,523,978
The financial statements were approved by th¢ trustee on 23rd July 2025 and signed on the board's behalf
by
a3. 04. 2
Sr. Perpetua McNulty
Trustee
Sr. Aine Campbell
Trustee
23. 0*.
44

Cash Flow Statemellt
for the year ended 31" December 2024
2024
2023
Notes
Net (outgoing)/incoming resources for the year
(993,419)
(1,406,339)
Adjustments for:
Prior Year Adjustment
(218,001)
Depreciation and impairnient charges
Impairnient charges
Dividends from investments
Proftt on sale of tangible assets
(Decrease)Ilncrease in debtors
(Decrease)Ilncrease in creditors
183,097
203,260
(223,497)
(925.144)
57,031
(12,890)
(165,307)
(409,312)
(3.476)
12,048
Net cash (outtlojv) l intlow from operating actlvltles
(1,914,822)
(1,987,127)
Cash Flows from Investing Actlvities
Dividends from investments
Proceeds from disposal of tangible fixed assets
Capital expenditure
Increase in value of investments
223,497
1,986,853
(282,908)
572,519
I65,307
469,564
(613,907)
448,060
Increase l (decrease) In eash In the year
585,138
(1,518,102)
Reconeiliation of net cash flow to movement in net debt
Inerense l (decrease) in cash in the year
Net Cash at 1$1 January 2024
585,138
1,711,377
(1,518,102)
3,229,479
Net Cash at 31" December 2024
2,296,515
1,711,377
45

Notes to Financial Statements
for the year ended 31. December 2024
Accounting policies
The principal accounting policles are summarised below. The accounting policies have been applied
consistently throughout the year and the preceding year.
Basis of Preparation
The financial statem¢nts have been prepared in accordance with 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 (FRS102) (effective I,
January 2015) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) and the Charities (Accounts and Reports) Regulations (Nortb¢rn Ireland)
2015. In preparing the accounts, the Trustees hav¢ considered whether in applying the accounting policies
required by FRS102 and the Charities SORP FRS102 the restatement of comparative items was required.
No adjustments to comparatives were identified. This set of financial staternents is the first prepared under
this new legislation.
Incoming Resources
All incoming resources are included In the statement of fmancial activities when the charity is entitled to
the income and the amount can be quantified with reasonabl¢ ac¢uraoy. The following specific policies are
applied to particular Categories of income:
Grants, including grants for the purchase of fixed assets, are recognised in ￿11 in the statement of finart¢ial
activities in the year in which they are receivable.
Income from investtnents 18 included in the year in which it is receivable. Diminutions of individual assets
within a portfolio below book cost are not adjusted for provided the portfolio as a whole, has a market
value in excess of book cost.
Resources Explained
Expenditure 15 recognised on an accNal basis as a liability is incurred. Expenditure includes any VAT
which cannot be fully recovered and 15 reported as part of the exp¢nditur¢ to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income.
Charitable expendityre comprises those costs incurred by the charity in the delivery of its activities and
services for its beneficiaries. It includes both ¢osts that can be allocated directly to such activities and
those costs of an indirect nature necessary to support them.
Support Costs are those costs incurred directly in support of expenditsre on the objects of the charity and
include project management.
46

Notes to Financial Statements
for the year ellded 31st December 2024
TangibIe Fixed Assets and Depreciation
ALI Properties, including Ministry Properties that may be used by the Congregation, are included and have
been valued at Net Realisable Value.
Depreciation is provided at rates cal¢ulated to write off the cost less residual value of each asset over its
expected useful life, as follows..
Investment Properties
Land and buildings
Fixttlres. fittings and equipment
Motor vehicle$
Not Depreciated
20/0 reducing balance
IOO/• reducing balance
250/0 reducing balance
Investments
Inve8tments held as fixed assets are revalued at mid-market value at the balance sh¢et date and the gain or
loss taken to the statement of financial activities.
Leasing
Rentals payable under operating leases are charged against income on a straight-line basis over the lease
Foreign Currencles
Monelary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of
exchange prevailillg at the accounting date. Transactions in foreign currencies are re¢orded at the date of
the transactions. All differences are taken to the statement of financial activities.
Investment income
Unrestricted
funds
Restricted
funds
2024
Total
2023
Total
Income from inve5tment$
Rent receivable
Bank interest receivable
223,497
50,598
5,149
223,497
50,598
5,185
165,307
65,442
1,604
36
279,244
36
279,280
232,353
47

Notes to Financial Statements
for the year ended 31" December 2024
Incoming resources frotn cbaritable activities
Unrestricted
fund5
2024
Total
2023
Total
Legacies
Other income
87,931
66,123
87,931
66,123
52,150
32,487
154,054
154,054
84,637
Voluntary Income
Unrestrlcted
funds
2024
Total
2023
Total
Salaries donated by Sisters of Mercy
Pensions donated by Sist¢TS of M¢Tcy
Stipends donated by Sisters of Mercy
Retirement lump sums donated by Sisters of Mercy
135,225
2,505,359
135.225
2,505,359
125,466
2,632,658
10,000
77,616
15,770
15,770
2,656,354
2,656,354
2,845,740
Other Ineome
Profit on Sale of propertie$
Profit on Sale of motor vehicles
911,239
13,905
911,239
13.905
393,238
16,074
925,144
925,144
409.312
Investment Management Costs
Unrestricted
Funds
2024
Total
2023
Total
Investment management costs
49,337
49,337
52,429
49,337
49,337
52,429
48

Notes to Financial Statements
for the year ended 31st December 2024
Costs of charitable activities
Direct
Costs
Support
Costs
2024
Total
Congreg&tionAI Livlng- the Advancement of Rellglon
Congregational Living
Spirituality, Prayer & Worship
1,881,320
98,438
192,883
10,088
2,074,203
108,526
1,979,758
202,971
2,182,729
HealtheAre & the compasslonate care of the slck
and tbose In need
1,519,952
155,830
1,675,782
Rellef of Povertyj promotlon of educltlon, Justice
and oth¢r ¢h&rltable actlvltles
Education
Overseas Development & Support
Pastoral, Social Care & Development
Support Other Charities
51,374
46,589
322,690
163,449
5,270
4.773
33,086
16,755
56,644
51,362
355,776
180,204
584,102
59,884
643,986
Upkeep of Listed Buildings
227,182
23,288
250,470
Total Cost of Charitable Aetivities
4,310,994
441,973
4,752,967
49

Notes to Financial Statements
for the year ended 31" December 2024
Support Costs
Legal &
Professional
2024
Total
Admin
Congregatlonal Llvlllg - the AdvancemeDt of Rellglon
Congregational Living
Spirituality, Prayer & Worship
23,948
1,252
168,936
8,835
192,884
10,087
25,200
177,771
202,971
Healthcare & the CompAsslonate Care of the Slck And
those in Need
19,347
136,483
155,830
Rellef of Poverty, Promotion of EducAtlon, Justlce And
other charltable Activities
Education
Overseas Development & Support
Pastoral, Social Care & Development
Support Other Charities
654
593
4,108
2,080
4,616
4,180
28,978
14,675
5,270
4,773
33.086
16,755
7,435
52,449
59,884
Upkeep of Listed Buildings
2,890
20,398
23,288
Totydl Costs Alloeated
54,872
387,101
441,973
Auditors, remuneratlon
2024
2023
Auditors, remuneration- Audit of the Financial Statements
17,640
13,800
50

Notes to Financial Statements
for the year ended 31. December 2024
Employees
Employment Costs
2024
2023
Wages & Salaries - office
Community Wages
206.670
1,062,870
187,779
1,196,526
1,269,540
1,384,305
Number of emplDyee$
The average monthly numbers of employees during the year,
was as follows..
2024
1¥4umber
2023
Number
77
76
Stgff costs and k
mana
ement renumer2tlon
All trustees are members of the Congregation of the Sisters of Mercy Northern Province. The trustees
consider that they alone comprise the key management of the charity. As members of the Congregation,
the trustees living and personal expenses are borne by the ciwity but they receive no renumeration or
reimbursement of expenses in connection with their duties as trustees.
io.
Tangible Fixed Assets
Land and
buildings
freehold
Fixtures,
fittlngs And
equlpment
Motor
vehlcles
Total
Cost
At 1st January 2024
Additions
Disposals
9,297,210
185,420
(1,053,911)
1,719,046
670
(1,471)
1,139,266
12,155,522
96,818
282,908
(98,949) (1,154,331)
At 31$1 December 2024
8,428,719
1,718,245
1,137,135 11,284,099
Depreeiation
At 1$1 January 2024
Charge for the year
On disposals
2,835,347
103,741
1,577,098
14,115
876,172
65,241
(92,622)
5,288,617
183,097
(92.622)
At 31st December 2024
2,939,088
1,591,213
848.791
5,379,092
Net book values
At 31 December 2024
5.489,631
127,032
288,344
5,905.007
At 3 ISE December 2023
6,461,863
141,948
263,094
6,866,904
51

Notes to FRllancial Statemellts
for the year ellded 31" December 2024
ii.
Fixed Asset Investments
Listed
Investments
Total
Valuation
At 31gt December 2024
10,353,399
10,353,399
12.
Debtors
2024
2023
Other debtors
Prepayments and accrned income
2,630
46,487
2,630
103,518
49,117
106,148
13.
Credltors: amounts falling due wlthln olle yerlr
2024
2023
Accruals and deferred income
73,479
86,369
73,479
86,369
52

Notes to Financial Statements
for the year ended 31 December 2024
14.
Unrestricted Fund5
At
l January
2024
At
Outgoing 31 December
resources
2024
Incoming
resouree$
General Fund
Designated Funds
Tangible Fixed Asset Fund
1,282,206
388,883
(375,426)
1,295,663
6,866,904
(961,897)
5,905,007
Congregational Living
3,811,417
1,156,367
(1,519,195)
3,448,589
Healthcare & the compas5ionat¢
care of the si¢k
4,599,584
1,395,562
(1,519,952)
4,475,194
Other Ministries
2,860,799
868,037
(425,834)
3,303,002
19,420,903
3,808,849
(4,802,304) 18,427,448
Purposes of unrestrieted funds
Tan
ible Flxed Asset Fund
This fund is equal to the total of the tangible assets which are held for the furtherance of the charitable
objects.
Con
re
ational Livln
Fund
Thi8 fund represents the present value of the capital sum required to make adequate provision to fund the
Congregation Living activities referred to in the Trustees Report. This is a net position i.e. the projected
costs are offset by income allocated to this activity.
Health and Com
assionate Care Fund
This fund represents the present value of the capital sum requlred to make adequate provision to fund the
Health and Compassionate Care activities referred to in the Trnstees Report. This is a net position i.e. the
projected costs are offset by income allocated to this activity,
Other Ministries Fund
This fund represents th¢ present value of the capital sum required to make adequate provision to fund tbe
Relief of Poverty, promotion of education, justice and other charitable activities referred to in the Trustee5
Report. This is a net position i.e. the proje¢ted costs are offset by income allocated to this activity.
53

Notes to Financial Statements
5t
for the year ended 31 December 2024
15.
Analysis of net asset5 between funds
Unrestricted
Funds
Restrieted
Funds
Total
Fuuds
Fund balances at 315t December 2024
as represented by..
Tangible fixed assets
Investment assets
Current assets
Current liabilities
5.905,007
10,353,399
2,242,521
(73,479)
5,905.007
10,353,399
2,345,632
(73,479)
103,111
18,427,448
103,111
18,530,559
16.
Restricted fund5
At
l Januydry
2024
At
31 December
2024
Incoming
resources
Strabane T￿st Fund
103,075
36
103,111
17.
Authorisation of Financial StaÉemeDts
The financial statements were authorised by the I￿stee8 for issue on 23rd July 2025.
54