MARIA ASSUMPTA TRUST
Financial health, per its FY2023 accounts
The accounts state that the charity's work is entirely reliant on income and investment returns from its endowments, with unrestricted reserves of £565,000 held at year-end. Per the trustees' report, these free reserves are above the policy target of six months' estimated income, and the trustees consider the level of reserves not excessive. The independent auditor confirmed that there are no material uncertainties relating to the charity's ability to continue as a going concern.
What the accounts disclose
“It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level of not less than six month's estimated income.”
“Grants totaling £298,000 (2022 - £570,000) were made to related charities during the year, as shown in note 5 to the accounts. There were no other related party transactions in the current or preceding year.” — page 20
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- Sr Catherine Cowley r.a.chair
- Lerma Montano Pangantihon
- SISTER VERONICA ANN ROWLEY r.a.
- Sr Catherine Jones r.a
- Sr Maureen Gertrude Connor r.a.
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £738k | £845k |
| 31/12/2023 | £595k | £380k |
| 31/12/2022 | £529k | £654k |
| 31/12/2021 | £462k | £489k |
| 31/12/2020 | £423k | £613k |
Common questions
Is MARIA ASSUMPTA TRUST financially healthy?
The accounts state that the charity's work is entirely reliant on income and investment returns from its endowments, with unrestricted reserves of £565,000 held at year-end. Per the trustees' report, these free reserves are above the policy target of six months' estimated income, and the trustees consider the level of reserves not excessive. The independent auditor confirmed that there are no material uncertainties relating to the charity's ability to continue as a going concern. Its FY2023 accounts were audited by Haysmacintyre LLP.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| NPT Transatlantic Limited | 1 | £30.9m |