CONGREGATION OF OUR LADY OF THE MISSIONS CIO
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net expenditure of £214,974 for the year, primarily due to a significant reduction in income from the sale of fixed assets compared to the prior year. Despite this deficit, the trustees confirm that free reserves of £1.72 million are consistent with their policy target of approximately one year's expenditure, and they believe the charity has sufficient resources to continue its charitable objectives.
What the accounts disclose
“The trustees consider that, given the nature of the charity’s work, the level of the charity’s free reserves should ideally be approximately a year’s expenditure to provide for contingencies and unevenness in future income.” — page 27
“During the year donations totalling £170,204 were received by the CIO from Congregation of Our Lady of the Missions (Ireland) CLG (2023 - £342,674 ).”
Structured financials (annual return, FY ending 31/12/2024)
Register events
- Received assets from another charity (02/12/2021)
Trustees
- Sister Catherine Patricia Corriganchair
- SISTER MARGARET TROWER WARD MURPHY
- Sister Margaret Mary Doherty
- Sister Mary Brigid Toner RNDM
- Sister Pauline McDonald RNDM
- Sister Rose Mary Harbinson
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £1.2m | £1.7m |
| 31/12/2023 | £3.9m | £1.6m |
| 31/12/2022 | £1.0m | £1.5m |
| 31/12/2021 | £15.4m | £1.3m |
| 31/12/2020 | £0 | £0 |
Common questions
Is CONGREGATION OF OUR LADY OF THE MISSIONS CIO financially healthy?
The accounts state that the charity reported a net expenditure of £214,974 for the year, primarily due to a significant reduction in income from the sale of fixed assets compared to the prior year. Despite this deficit, the trustees confirm that free reserves of £1.72 million are consistent with their policy target of approximately one year's expenditure, and they believe the charity has sufficient resources to continue its charitable objectives. Its FY2024 accounts were audited by Buzzacott Audit LLP.