The Monte Argentario Private Trust (N.I.) Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2

Registered number: NI011822

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets			3,999,691		4,088,294

			3,999,691		4,088,294
TOTAL ASSETS LESS CURRENT LIABILITIES			3,999,691		4,088,294

NET ASSETS			3,999,691		4,088,294

RESERVES
Other reserves			292,512		292,512
Income and Expenditure Account			3,707,179		3,795,782

MEMBERS' FUNDS			3,999,691		4,088,294

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.

On behalf of the board

Fr F Keevins

Director

22/07/2025

The notes on page 2 form part of these financial statements.

1. General Information

The Monte Argentario Private Trust (N.I.) Limited is a private company, limited by guarantee, incorporated in Northern Ireland, registered number NI011822 . The registered office is Holy Cross Retreat, 432 Crumlin Road, Belfast, Antrim, BT14 7GE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold

2% straight line

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

4. Related Party Transactions

The Monte Argentario Private Trust (N.I.) Limited is related to the Congregation of the Passion a charity registered in Ireland (Charity No. 20004927). The purpose of this company is to hold property on behalf of the Congregation of the Passion. During the year the Congregation received rental income of £14,371 and paid expenses on behalf Monte Agentario Trust amounting to £1,020.

5. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

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