## Benedictine Monks STATEMENT OF FINANCIAL ACTIVITIES 

(Incorporating an Income and Expenditure Account) 

for the financial year ended 31 December 2025 


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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Unrestricted|Total|Unrestricted|Total|
|Funds|Funds|Funds|Funds|
|2025|2025|2024|2024|
|Notes|£|£|£|£|
|Income|
|Donations|and|legacies|3.1|114,924|114,924|145,892|145,892|
|Charitable|activities|
|-|Grants|from|governments|and|other co-funders|3.2|52,068|52,068|48,962|48,962|
|Other|income|3.3|105,369|105,369|71,597|71,597|
|Total|income|272,361|272,361|266,451|266,451|
|Expenditure|
|Charitable|activities|4.1|275,564|275,564|250,251|250,251|
|Other|expenditure|4.2|6,621|6,621|-|-|
|Total|Expenditure|282,185|282,185|250,251|250,251|
|Net|gains/(losses)|on|investments|246,298|246,298|194,292|194,292|
|Net|income/(expenditure)|236,474|236,474|210,492|210,492|
|Transfers|between|funds|-|-|-|-|
|Net|movement|in|funds|for the financial|year|236,474|236,474|210,492|210,492|
|Reconciliation|of|funds:|
|Total|funds|beginning|of the|year|13|5,816,627|5,816,627|5,606,135|5,606,135|
|Total|funds|at the|end|of the|year|6,053,101|6,053,101|5,816,627|5,816,627|

**----- End of picture text -----**<br>


The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities. 

The notes on pages 14 to 18 form part of the financial statements 

12 

## Benedictine Monks Company Number: BALANCE SHEET as at 31 December 2025 

|||2025|2024|
|---|---|---|---|
||Notes|£|£|
|Fixed Assets||||
|Tangible assets|8|3,481,470|3,459,128|
|CurrentAssets||||
|Debtors<br>Investments<br>Cash at bank and in hand|9<br>10|-<br>2,462,428<br>112,053|8,320<br>2,217,183<br>135,896|
|||2,574,481|2,361,399|
|Creditors: Amounts falling duewithin one year|11|(2,850)|(3,900)|
|Net Current Assets||2,571,631|2,357,499|
|Total Assets less Current Liabilities||6,053,101|5,816,627|
|Funds||||
|General fund (unrestricted)||6,053,101|5,816,627|
|Totalfunds|13|6,053,101|5,816,627|



These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. 

Approved by the Board of Trustees and authorised for issue on 1 April 2026 and signed on its behalf by 


**----- Start of picture text -----**<br>
+Rev utrMark-EphremAFANolan _ Aten r7<br>Trustee<br>cic. Loe oss<br>Rev Eric Loisel<br>Trustee<br>Wd<br>fata in UNCCy? 0 ane<br>Rev Fhierry Marteaux<br>ee<br>**----- End of picture text -----**<br>


The notes on pages 14 to 18 form part of the financial statements 

13 

## Benedictine Monks NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2025 

1. GENERAL INFORMATION 

Benedictine Monks is a company limited by shares registered in Northern Ireland. The registered office of the charity is Holy Cross Abbey, 119 Kilbroney Road, Rostrevor, Co. Down, BT34 3BN, Northern Ireland which is also the principal place of business of the charity. The financial statements have been presented in Pound (£) which is also the functional currency of the charity. 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements. 

## Basis of preparation 

The financial statements have been prepared on the going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102". 

As permitted by the Companies Act 2006, the charity has varied the standard formats in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard formats are to comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP. 

## Statement of compliance 

The financial statements of the charity for the financial year ended 31 December 2017 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102”. 

## Cash flow statement 

The charity has availed of the exemption in FRS 102 from the requirement to produce a cash flow statement because it is classified as a small charity. 

## Fund accounting 

The following are the categorises of funds maintained: 

## Restricted funds 

Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity. 

## Unrestricted funds 

Unrestricted funds consist of General and Designated funds. 

- General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity. 

- Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for particular purposes. These designations have an administrative purpose only, and do not legally restrict the board's discretion to apply the fund. 

## Income 

Voluntary income or capital is included in the Statement of Financial Activities when the charity is legally entitled to it, its financial value can be quantified with reasonable certainty and there is reasonable certainty of its ultimate receipt. Entitlement to legacies is considered established when the charity has been notified of a distribution to be made by the executors. Income received in advance of due performance under a contract is accounted for as deferred income until earned. Grants for activities are recognised as income when the related conditions for legal entitlement have been met. All other income is accounted for on an accruals basis. 

## Expenditure 

All resources expended are accounted for on an accruals basis. Charitable activities include costs of services and grants, support costs and depreciation on related assets. Costs of generating funds similarly include fundraising activities. Non-staff costs not attributed to one category of activity are allocated or apportioned pro-rata to the staffing of the relevant service. Finance, HR, IT and administrative staff costs are directly attributable to individual activities by objective. Governance costs are those associated with constitutional and statutory requirements. 

14 

continued 

## Benedictine Monks NOTES TO THE FINANCIAL STATEMENTS 

for the financial year ended 31 December 2025 

## Tangible fixed assets and depreciation 

Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows: 

, 

## Land and buildings freehold 

Fixtures, fittings and equipment 20% Reducing balance Motor vehicles 20% Reducing balance 

## Investments 

Current asset investments are stated at the lower of cost and net realisable value. 

## Debtors 

Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from government agencies and other co-funders, but not yet received at year end, is included in debtors. 

## Cash at bank and in hand 

Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal. 

## Taxation and deferred taxation 

No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. 

. 

|3.|INCOME|||||||
|---|---|---|---|---|---|---|---|
|3.1|DONATIONSAND LEGACIES||Unrestricted||Restricted|2025|2024|
||||Funds||Funds|||
||||£||£|£|£|
||Donations and legacies||114,924||-|114,924|145,892|
|3.2|CHARITABLE ACTIVITIES||Unrestricted||Restricted|2025|2024|
||||Funds|—|Funds|||
||||£||£|£|£|
||Grants from governments and other|co-funders:||||||
||Income from charitable activities||52,068||-|52,068|48,962|
|3.3|OTHER INCOME||Unrestricted||Restricted|2025|2024|
||||Funds||Funds|||
||||£||£|£|£|
||Other income||105,369||-|105,369|71,597|
|4.|EXPENDITURE|||||||
|4.1|CHARITABLEACTIVITIES|Direct<br>Costs<br>£|Other<br>Costs<br>£||Support<br>Costs<br>£|2025<br>£|2024<br>£|
||Expenditure on charitable activites|108,479|95,261||68,749|272,489|247,176|
||Governance Costs (Note 4.3)|-|-||3,075|3,075|3,075|
|||108,479|95,261||71,824|275,564|250,251|
|4.2|OTHEREXPENDITURE|Direct<br>Costs|Other<br>Costs||Support<br>Costs|2025|2024|
|||£|£||£|£|£|
||Other expenditure|-|531||6,090|6,621|-|
||||||||15|



continued 

## Benedictine Monks NOTES TO THE FINANCIAL STATEMENTS 

|forthe|financial yearended 31 December2025|financial yearended 31 December2025||||||
|---|---|---|---|---|---|---|---|
|4.3|GOVERNANCE COSTS||Direct|Other|Support|2025|2024|
||||Costs<br>£|Costs<br>£|Costs<br>£|£|£|
||Accountancy||-|-|3,075|3,075|3,075|
|4.4|SUPPORTCOSTS||Charitable|Other|Governance|2025|2024|
||||Activities|Expenditure|Costs|||
||||£|£|£|£|pS|
||Accountancy fees<br>General expenses||-<br>3,827|-<br>-|3,075<br>-|3,075<br>3,827|3,075<br>3,496|
||Light & heat||42,021|-|-|42,021|32,573|
||PPS||4,738|-|-|4,738|3,892|
||Computerexpenses|;|-|6,090|-|6,090|1,391|
||Bank & interest fees||2,008|-|-|2,008|2,759|
||Telephone & fax||2,502|-|-|2,502|3,372|
||Motor& travel expenses||13,653|-|-|13,653|13,888|
||||68,749|6,090|3,075|77,914|64,446|
|5.|ANALYSIS OF SUPPORT COSTS|||||||
|||||||2025|2024|
|||||||£|£|
||Accountancy fees|||||3,075|3,075|
||General expenses|||||3,827|3,496|
||Light& heat|||||42,021|32,573|
||PPS|||||4,738|3,892|
||Computerexpenses<br>Bank& interestfees<br>Telephone &fax|||||6,090<br>2,008<br>2,502|1,391<br>2,759<br>3,372|
||Motor& travel expenses|||||13,653|13,888|
|||||||77,914|64,446|
|6.|NET INCOME|||||2025|2024|
|||||||£|£|
||Net Income is stated after charging/(crediting):|||||||
||Deficit/(surplus) on disposal oftangible||fixed assets|||3,021|-|
||Deficit/(surplus) on foreign currencies|||||2,514|(7)|
|7.|INVESTMENTAND OTHER INCOME|||||2025|2024|
|||||||£|£|
||Bankinterest|||||1,053|57|



16 

continued 

## Benedictine Monks NOTES TO THE FINANCIAL STATEMENTS 

for the financial year ended 31 December 2025 


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||||||||||
|---|---|---|---|---|---|---|---|---|
|8.|TANGIBLE|FIXED|ASSETS|
|Land|and|Fixtures,|Motor|Total|
|buildings _|fittings|and|vehicles|
|freehold|equipment|
|£|£|£|£|
|Cost|
|At|1|January|2025|3,402,182|172,586|14,405|3,589,173|
|Additions|-|-|45,185|45,185|
|Disposals|-|-|(14,405)|(14,405)|
|At|31|December|2025|3,402,182|172,586|45,185|3,619,953|
|Depreciation|
|At|1|January|2025|-|118,662|11,383|130,045|
|Charge|for|the|financial|year|-|10,782|9,040|19,822|
|On|disposals|-|-|(11,384)|(11,384)|
|At|31|December|2025|-|129,444|9,039|138,483|
|Net|book|value|
|At|31|December 2025|3,402,182|43,142|36,146|3,481,470|
|At|31|December 2024|3,402,182|53,924|3,022|3,459,128|
|9.|DEBTORS|2025|2024|
|£|£|
|Prepayments|and|accrued|income|-|8,320|
|10.|INVESTMENTS|2025|2024|
|£|£|
|Investment|Bonds|2,462,428|2,217,183|
|11.|CREDITORS|2025|2024|
|Amounts|falling|due|within|one year|£|£|
|Other|creditors|2,850|3,900|
|12.|RESERVES|
|2025|2024|
|£|£|
|At the|beginning|of the|year|5,816,627|5,606,135|
|Surplus|for|the|financial|year|236,474|210,492|
|At the|end|of the|year|6,053,101|5,816,627|

**----- End of picture text -----**<br>


17 

continued 

## Benedictine Monks NOTES TO THE FINANCIAL STATEMENTS 

for the financial year ended 31 December 2025 

|13.|FUNDS|||||||
|---|---|---|---|---|---|---|---|
|13.1|RECONCILIATION OFMOVEMENT|IN|FUNDS|||Unrestricted<br>Funds|Total<br>Funds|
|||||||£|£|
||At 1 January 2024|||||5,606,135|5,606,135|
||Movement during the financial year|||||210,492|210,492|
||At 31 December2024|||||5,816,627|5,816,627|
||Movement during the financial year|||||236,474|236,474|
||At 31 December 2025|||||6,053,101|6,053,101|
|13.2|ANALYSIS OF MOVEMENTS ON FUNDS|||||||
||||Balance|Income|Expenditure|Transfers|Balance|
|||1|January|||between|31 December|
||||2025|||funds|2025|
||||£|£|£|£|£|
||Unrestricted funds|||||||
||Unrestricted General|5,816,627||273,414|36,940|-|6,053,101|
||Total funds|5,816,627||273,414|36,940|-|6,053,101|
|13.3.|ANALYSIS OF NET ASSETS BY FUND|||||||
|||||Fixed|Current|Current|Total|
|||||assets|assets|liabilities||
|||||- charity use||||
|||||£|£|£|£|
||Unrestricted general funds|||3,481,470|2,574,481|(2,850)|6,053,101|
|||||3,481,470|2,574,481|(2,850)|6,053,101|



14. POST-BALANCE SHEET EVENTS 

There have been no significant events affecting the Charity since the financial year-end. 

; 18