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 TL*al funds Total ft￿d$
2024
Nots
In¢orno endovnnents
Donauons and legacles
Char￿able 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 ex￿ndIt￿re
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 responsibl￿tieS 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 pro￿870nS 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
Ch￿rn￿n
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. Be￿a￿L 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 p*paring 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 expeftdrt￿re.
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 $ourco5 of estlmatFOn uncgrtalnty
The p￿parat￿)n (rfthe finan¢lal statements ￿qUIreS m&iagement to make judgemenls. estimat¢$
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 reasonal￿e 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 poI￿AeS 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 pro￿ble ano its amount can be measured rehabty.
legaGy Income is recognlsed ￿en weipt is wobable and entiUement15 estab￿Shed.
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 r￿e1Ved 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 expendi￿re 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 acti￿￿eS 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 I￿5p91M1ènt tnat has previousty been
rg¢ognised as eXpend￿ure withln the stale￿￿nt 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$[¢ financial instruments are IntUdW re¢ognisad al the &mouni ￿ceIv9b1e or payabl8 In¢ludlng
gny related transaGUon costs.
Current assets and current Ilabilrtles are subsequanuy measured atthe Ga¥h or other consid8Tafjon
expe￿e￿ lo be pald Oi recdv& and n?t discounted.
Debt Instruments are subsequenty m&a8ured at amorti5ed cosL
Where investmonts in shares aTe puNidy trgded or thelr fair valuo can otherwtse be m8asLired
reliably. the investment Is subsequ&ndy measured at fair value with cl)ap,ges In lair value
rewgni8ed in in¢om¢ and expenditure. All other Such Investments are sub4¢quenly mo8$vred at
¢ost16ss Impairment.
Other ffinancial instruments. indudiny derivabves. are Initsalw recogni$ed at f4ir Va￿e, 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 ￿P￿sured 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 groU￿d 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
d1￿cl1Y
Support Totsl ftind$
costs
202S
Total fund
2024
DOnat￿n tts th¢ Cong￿gatiOn 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 p￿0d 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 r￿TrIed 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
Co￿gregatIon 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 ￿genta￿0 Tfust amounting I
£1,200.
15