The Monto Argentario Private Trust (Nl) Limlted Company Limited by Guarantee statement of Financlal Activities {In¢luding Income and expendlture account) Year ended 31 December 2025 2025 un 5tricled Jnd3 TLal funds Total ftd$ 2024 Nots In¢orno endovnnents Donauons and legacles Charable activlcies Total Income 1,20tt 18,898 1,200 18.698 1,020 14,371 19,898 19,898 15.391 Expenditure Expendlture on olaritable acUwJes Total exndItre 108.501 108.5J1 103.994 108,501 108,501 103,894 Not èxp&ndlture and net movèment in funds (88,603) 188,603) 188,8031 R8con¢lliatlon of fund5 Total funds brought forward Totsl funds carrlod forward 3,999.691 3.911,088 3.999.691 4.088.294 3,911.088 3,999.691 The slalement of fiManci818CtMties indudes all galns and losses Tecogni5éd in the year. Al incom6 and expendlture derive fr¢)m continuing ai*vtbes. Tha note5 on pages 10 to 15 forrn partof thege finanelal stat8monts.
The Monte Aryentario Private Trust (Nl) Limited Company Limiled by Guarantee Statem8nt of Financial Posltlon 31 December 2025 2025 2024 Fixed assets Tangible fixed assets Total asgets le$9 currènt Itablllti&s Notè 13 3,911.088 3,911,088 3,999,691 3,999.691 Funds of th& charKty Unrestricted lunds 3.911,Q88 3.989,691 Total charity funds 14 3,911.088 3.999,691 Forthe year endlno 31 December 2025 Ihe charity was tsnlrued to ax&rnpUon from audit under se¢bon 477 01 the Compani&8 Act 2006 Telabng to Small ¢omp8nie8. DIreC(S. mBpon5ibililles'. The mernberg hav8 not r?quir¢d the Company to obtatn an audlt of it5 fin8nu41 $talements for the year n questlon Ir¥ accordance wlth section 476,. Th& directors acknowledge their responsibltieS foroomptylng the requlremenl8 of the Actwth respect to accountsng rocords the preparalton of financ4al atstements. Those financial statements have ert prepared in a¢¢ordan¢e Ihe pro870nS wpplicatyle lo Companies subject lo the small companies. regime. These ft and81 $talements wer@ approved by th8 t#)ard of tnjstees and authorised fvr issue . aftd 8re signetl on behaff of the brtrard by: Fr Dufty Secret4ry Fr Coffey Chrnn The nots8 on pa9e¥ 10 to 15 forn part ol thes? financtal StsÉ¢ments.
The Monte Argentario Private Trust (Nl) Limited Company Llmited by Guaranteè Notes to the Financial Statements Year endod 31 December 2025 G6neral informatton The charhy is a publ c beriefit en:ty and a private company limited by guamnlee. registered in Northern Ireland and a registAFed charity.'n Nortrthem Ireland. Th& addrass of the registered ¢ffice is Holy Gross RetreaL 432 Cnjmlin Road. BeaL Co Antrim, BT14 7GE. stst&ment of ¢omplian¢e These financial statements have been preparèd in complian¢e th FRS 102, The Financial Reporting Standard applicable ir the UK and the Republic of Ireland., the Statement of Racommendect Praci'ce 3oplieabl& to charities pparing thei accounts in accordance wllh the Financial Reporting Stsndard appluble in the UK and Republic of Ireland IFRS 1021 (Chaiilies SO5iP IFRS 1021) and the Com.panlès Acl 20a6. Accountlny policles Basis of preparatlon The financial statements have been prepared on the hlsiorical cost ba515, as modiffed by tho revaluation of Gertain fin8rJclal 8ssets and llabiltb.es and investment propefaes measured at lalr value through hcrjme or expeftdrtre. The flp.ancial ststemenl$ are prepared in sterflng, which i¥ the fvnctional wrrency of thp entity. Golny concern There no matorlal uncertaint¥ about the (*arfty's ability to CDnUnue. Judgemènts and kgy $ourco5 of estlmatFOn uncgrtalnty The pparat)n (rfthe finan¢lal statements qUIreS m&iagement to make judgemenls. estimat¢$ and assknmptions that affert the amounts réported. These estimates and judgements ar8 conlinually reviewed and 8rv based 0.4 experience ar.d other factors. Including expe¢tatron$ of fuknre ev•nls that ore hebevod to be reasonale under the rCumstanCes. Fund accountlny Unreslri¢ttd funds Are av8ilable frjr use at the digcretion of the tru$tees to fvrther any of the arilfs purposes. D93igneled fundy are unre8£ri¢tad tunds eamarked by the directors for particular futu project tsr ¢ommitment. Res".ri¢ted fur,ds are subJected lo resvf¢tions on their expersditure dedared by the donoT orlhrough the temis of an appeal 8nd fall into one of sub-c4asses'. restricted incorne funds or &nd£Jwmenl funds. io
The Monte Argentario Private Trust {Nl} Limited Company Limitad by Guarantee Notes to the Flnanclal Statements Iconthued) Year ènded 31 December 2025 Accountlng poliGles (cotTthuedJ Ineomlng resourc All incoming resources are included In the ststemettt of financial activities when enlittemÈnt has passed to the chaftty, il IB probable that the econom'c beneffts asso&aled with tho trartsaclion will flow lo the ch.y and the amount ¢an be roltably measured. The following specrfic poIAeS 8re applied to parkn'cular cate9odes OT income: Income from donatlDn$ OT grants is recogni3ed when there is evldencg of enbllernent to the yrfi. receipt 15 proble ano its amount can be measured rehabty. legaGy Income is recognlsed en weipt is wobable and entiUement15 estabShed. Income from donated good3 is measured at the fair value of the goodB unles5 this IS impractical to meas'jre reliably. in vknich p3se tre value Is derived lff>m tha cD31 to the donor or the esllmated resale value. Don3tea fa¢llilles and servicgs are recognised in the accounts when re1Ved If the value can be reliably rneasured. No amounts are induded for the contrfbuts.on of general voluntsers. Income frorn contracts f(sr thB sJppty of seThices is rew)gnised wlh the d?Ilvery of th¢ contracied servi¢e. Tlws is cla5%',ied as unrestricted funds unless there Is a contractual re4uSrement ¢or it to be spent on a particular purpose #t)d returned il unspent, in ithiich case il may be ¥egarded as restricted. R•sourG&S expènded Expendtture Is recognlsed on an ac-Tuals baslg as a Ii8iYIty is incurred. ExpendiNEre Indude$ any VAT which cannot be fully recovèred. and is Jassiffed under headlng5 of the 3t&tomenl of finane191 acts"vities lo vhich ft rdateg.. expgn¢iure on raising fu4ds indudes tiie ccsts of all fvndrai$lng aclivyjes, events, no charitable trading actsvtbes, and the sale of donalod goods. expendllure on tharitable activits.es all ¢oslS Incurred by a charlty In undertaking aotfvities ti13t furthor its charTt8ble a;Ths for the benefit of its benefieiaries, iT)duding those 31APPQrt cost$ and costs relatsng to the governance of the charily apportloned lo Gh3ri1able activrties. otherèxpenditUTe induiJe8 au expendire th8tb neitheT TgFaied to ra15ing fund5 forlhe charity nor part of its expenditure on charitable tivItyes. All ¢Sts are allocated lo expendiiure celegories reftectins Ihe use of the resource. Direet costs atlnbutable lo B single acknvity 4re allocated direcdy lo that adpjrty. Sh3r8d costs are apportloned bBtwoen the actieS they coiitrbi ute to on a reasonable, justffiable. and cor81Stent basB. Tanglble a¥sets Tangible assets are inits811y recorded at cosland sub5equontly stated al cost less any aBcumulated deprecialion an.J1mpwrmont10s5es. Any tsnsible assets ¢aMed at revalutsd amounts are r¢ord8d at Ihe fair value at the dale of rsvaluatior less any $ubseqL.ent ac¢umulaled d¢preciatlon and subs¢quènt accumu18ted impaiment losses. 11
The Monte Argentario Private Trust (Nl) Limited Company Llmited by Guarantee Note$ to the Flnanclal Statements (cortthuerfj Year ended 31 December 2025 Accounting polhcies Icoftthjued) T¥nglblE assets (vonunue An Increase in the carrying amount o., an asset as a resu of a revaluation. is rEcognised In other rocognised gains and losses. unless tt reverses a charge for I5p91M1ènt tnat has previousty been rg¢ognised as eXpendure withln the stalent Gf firiancial activities. A decre&$e in carrylng amount of an asset 88 a ro3ult of revaknation. is recognised in other iewgni5ed g&ins and105595, except to which il offsets ar.y previous revaluation gain. in whi¢h case the10s3 1$ ¥hown within tsther recognised gain8 andlosses on the stttemenl of finaTr aCti¥e5. DeprB¢iatio Deprpefration is calcLllated so as to WTile off the costorvaluatlon of an asset, less its residual value, over the useful economic lrfe of that assel 8s follows: Freehold property 2% straight line Financlal in$lrwnèntg A financial asset Dr a financial liabiltty 1$ retognised only when the charity becomes a paty Icl the ontrJ*ual prtsvi8'.ons of the ip.strurnenl. Ba$[¢ financial instruments are IntUdW re¢ognisad al the &mouni ceIv9b1e or payabl8 In¢ludlng gny related transaGUon costs. Current assets and current Ilabilrtles are subsequanuy measured atthe Ga¥h or other consid8Tafjon expee lo be pald Oi recdv& and n?t discounted. Debt Instruments are subsequenty m&a8ured at amorti5ed cosL Where investmonts in shares aTe puNidy trgded or thelr fair valuo can otherwtse be m8asLired reliably. the investment Is subsequ&ndy measured at fair value with cl)ap,ges In lair value rewgni8ed in in¢om¢ and expenditure. All other Such Investments are sub4¢quenly mo8$vred at ¢ost16ss Impairment. Other ffinancial instruments. indudiny derivabves. are Initsalw recogni$ed at f4ir Vae, unless payment for an a$$èt 1$ deferred beyonLI normal business terms or fin8noed at a rate of interest that 19 not a market rate. In which case the asset is Psured at the PTesei)t value of the futura payments discounted al a market Tale of inteTestfor a wmilar debt instrtsment. other fiThanGial in8tNmenrs aTe $ubsequeilJy measured at Trdlr value, with any changos reoognised irTr the ytalement of financial acuvib8s. th8 exception of hedgiig Instruments ltt a designalkd hedging relatlonshlp. Fln3ncl81 assets that are measured al cost or amorhsed ère Teviewed tor objecb.ve evidence f impaimi&nl al the e.rFd ol eactr. ieporbng datts. 11 there is objectwe evidence ol impa1rmenl, an iTnpsirm8nt Ioss is fecogni$ed underthe apprcprtats hBading in the Sta emenl of financial actiwlles In which the initial gAln wa5 recogni5ed. 12
The Monte Argentario Private Trust (Nl) Limited Company Llmited by Guarantee Notes to the Financial Statements (¢otrJtht Year ènded 31 December 2025 Accounvng pDllcie$ {wndnuvdJ FlnanGlal instrumgnts (CL[[nU9) For all equty instruments regardless of significance, and othel flnancval assets that are indivldually Sl9nlficant. the6e are assessed individual for impaimenl. Other financial assets are either as$8ssed indivldually or groUd on the basis of $lmilar Gredit risk charactèristscs. Any rever881$ of imp8irmenl ar¢ Tecognised imrnediatety, lo extent that the reversal does not resuli in a carrying amount of the financial 835et th exceed$ wh* the carying amount would have been had the impaiment not Previously been recognisgd. Llmited by guarantsÈ The company Is limlt8d by guarantee and has no share capital. Every menber ofthe comp8ny undertakes to contribute lo the as$ets ofthe company. in the event of a wlndlng up, stjch an amount as may rg]vired not exceeding £1. tk)natsons and 18gacle$ Unrestrtcte(l Totat Funds Unrèsiricted Total Funds Fund8 2025 Funds 2024 Donations Expense5 reimbufsed 1.2DO 1,200 1,020 1,020 Charitabl8 actlY5tte5 Unrestricted Total Funds Unrestrthd Tot31 Fundg Funds 2025 Funds 2024 Rental Income 18.698 18,698 14,371 14,371 Exp4ndlture on ¢h#rilable aciivities by fund type Unrestricted Total Funds Unre5tricled Total Funds Funds 2025 Funds 2024 Oonation to th¢ CongTegation of the Passion Suppod costs 18,89S 89.803 18,698 89.803 14,371 89,623 14,371 89,623 103.994 108,501 108,501 103,994 13
The Monte Argentarlo Private Trust (Nl) Limited Company Limlted by Guarantee Notes to the Flnancial Statements i¢ontinuedJ Year ended 31 December 2025 Expandlture on charitabl• activlties by activlty typ& Aclivilies underta.ken d1cl1Y Support Totsl ftind$ costs 202S Total fund 2024 DOnatn tts th¢ ConggatiOn ofthe Passion 18.698 89,803 108.501 103,994 Analy815 of support Costs Anaty8is of support costs activity 1 Total 202S Total 2024 1200 1.200 88.603 88,603 Support C05ts- Ac¢ounlan Support oosts- Depreciation 1,020 86,603 89,623 89.803 89,803 10, Ngt &xpendilure N8t expendrtV 18 ttated after chargingllcredibng).. 2025 2024 Dopre¢iation of t817giNe fixèd assets 88.SU3 88,603 11. Stsff cc>sts The tgtal Stsff costs and employge ben&fit8 for the repDrting p0d are analysed 83 fofiows". 2025 2024 The aveTage htsad cout7t ofemploy¢e5 dvring the yearvrd8 Nil (2024.. NIII. The Trust does not have any stsff. NIL IL No employee re¢elved emtyoyee benefits of moro than £80,000 during the year12024'. Nill. 12. Truste& remun•rntion and exp8ns¥ None ofthe Trustees have rTrIed any remuneration during thts year in their¢8pa¢ty a$ Twsts¢g. 14
The Monte Argentario Private Trust (Nl) Limited Company Limlted by Guarantee Notes to the Financial Statements feonthued) Year ended 31 December 2025 13. Tanglblfj fixed a¥sats Frnehold property Cost At l January 2025 and 31 December 2025 Depreclation At 1 January 2025 Charge for the year At 31 Dècembèr 2025 Carylng amount At 31 D8cembtrr 20Z5 At 31 Deknember 2024 4,43D,153 430.462 88,603 S19,065 3,911.088 3,999,691 14. Anelysls of charttable fvnds Unr&strlcted fLtnd$ At 1 Jan 2025 At Income Expen(liture 31 Dbc 2025 19,898 1108,5011 3.911.088 Gen&ral fund¥ 3,999,691 1 Jan 2024 Al Income Expenditure 31 2024 15.391 {1 D3.994) 3.999,691 Other reserves relate lo the propety GDsts of Th9 Graan. Ennl8killen and Glasgow donated by the CogregatIon ofthe Passion. 15. Related partles General fwids 4.oa8,294 The Monte A¥gentario Private Trust IN.[.} Limlted 15 related lo the Congregatlon of the Passion. charrty registered in lieland (Chartty No. 200049271. The purpose ol Ihls company is la hold property on behalf of the Congreg*ron of tho Passion. Dtiriny Ib.e year the Congregallon Tewved rental income of £18.$98 and pa4d e¥ponBes on behalf of Monte genta0 Tfust amounting I £1,200. 15