2023-03-31-accounts

The Congregation of the Daughters of the Cross of Liege Annual Report and Financlal Statements 31 March 2023 Company Reglslrallon NumbJr'. 03492921 Charfty R•g1$tr8llon Numb•r'. 10e8661

Contents Trustees, Raport 1 Sumrnary of aC￿VItieS 2 Trustees Strateglc Report 3 Introduction 4 Charity's aim and objects 5 Strategic plans and objecilvas 6 Aclivilies, perfornance and achievements in the year 7 Volunteers 8 Financial Review (including reserves) 9 Investments 15 10 Fundraising 11 Rlsk man898mtrnl 12 Events slnce the year-gnd and futu￿ plans Other matters 18 18 19 13 Publlc baneflt 20 14 The environment 20 16 Structur8 and gov8m8n¢e 17 Management 18 Ralaled parties 20 Slaternent ol Iru818es' responslbllltlas 20 22 23 24 Reglstratlon dotails and princlpal advisers Independènt auditor's report 27 Flnanclal Statemonts statement of financial activitSes 31 Comparatlv8 Stat8mènl of financi81 activities Balance sheet 32 33 Stslernenl of cash flows 34 Notes to the financlal statements 36 Principal accounting policies 48 The Congr8g8tion of the Daughters of the Cross of Liege

Trusta8s' report Year lo 31 March 2023 1 Summary of actlvltles The activities of the charity during the year under review can be considered und8r heading5. • The mini51ry of the Slslers Healthcare provided at Holy Cross Hospital, Haslemer8, Surrey Hosplt81 forthe Ireatment of neurologlc81 disablllty and sim118r long-term conditlons Senior Offi¢&r.- Ross While (r&signed St August 2022),. Chrls Hlnton (appoinled 5 Septsmber 2022) WebsAts." holycross.org.uk. Th8 Hospital has 40 b8ds, over 50 in-patlenl benefiGiaries, 144 employe&s and 2t trolunteers. The acllvilie$ of the Si$1or8 or& supported by a small central staff who deal wjlh Slalutory and charily-wide mallers, including monllorlng the investments and funding Sisters, CDmmunllie8. The central admlnislratlon also encompasses th8 lay staff carlng, cooking, and providlng housekeeping for elderly Slslers In Haslemere, Chelsea, Much Hadham, Cheam, and Sllllorgan, Ireland. Our fjn8nces 2023 £14.4m £10.em £13.8rn1 2022 £12.Om £10.2m £11.9ml Total axp8ndllur9 Tolol Income Nel expendlture These amoun15 are aGhleved before inveslrnent and other gains and losses. Our people 2023 2022 £6.2m 186 23 35 Total staff costs Employaes Volunteers Slsters £7.3m 193 21 35 2 Trustees The Iruslees who Served during the year are- Sister Veronica Hagen. Chair and Chief Executiv8 of the Charity Provin¢ial Superior and Chair of the Provincial Coun¢il Sist&r Mary McGinn laka Sister Mary Geraldine) Provincial Bursar Sisttrr Annette Clemence, Sister Anne Kelly" Sister Kathleen O'Reilly" Members of the Provincial Council TlTre Congregalion of the Daughte￿ of the Cross of Liege 1

Trustees, r8port Year to 31 March 2023 2 Trustees Icontinued) Trustees, thanks None of the charity s work could be achieved without the dedicated loyalty of all the staff employed by the charity, the efforts of the 21 full-tlme and parl-lime volunteers (2022- 231 the commitment and effort of Ihe 35 Sisters in the Province12022 - 35 Sisters) or without the continuing generosity of ils donor8 and supporters. The trustees are also extremely appreciativ8 of all the members of the Advlsory Commlllees who contribute lo the charity's work by devoting their time and expertise. To all these groups, the trustees offer their grateful thanks ané their prayers. Stratèglc Rèport 3 Introductlon The Irusle8s are pleased lo present their report, together with the flnancial Slalements of The Congregation of th8 Daughters of the Cros$ of Llege, for the year 8nded 31 March 2023. The Iruslees, report, in¢luding the slraltrgi¢ reporl, ha$ been prepared in accordance with Part 8 of the Charities Act 2011 and also conslilules a directors. report for the purposes of the Companlgs AGI 2006. Th? financial 51atemenl$ are pres$nted in a¢¢Drdan¢$ with the accounllng pollcles on pages 4810 52 and comply with the requirements of the Charities Act 2a11. the Companles A¢1 2008, the Charlty's MemO￿ndum and Artl¢les of A$so¢iallon. applicable laws, Unlled Klngdom Aeeounting Standards {UK Generally Accepted Accounting Pra¢lice), and Accounllng and Reporting by Chari118s.' Sialemenl of Recommended Practice ISORP FRS 1021 appll¢able lo ¢trarllles preparing Ihelr accounts In accordance with the Flnanclal R&porting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021. 4 Charlty's alm and object8 The aim of the ¢harily 1$ lo provlde a legal framework In the UK for the Si¥ler¥ lo follow their ¢alliAg and lo me61 the obllgalions sel OLJI in Ihelr own Ctsnslllution. In February 1782, in Liege, Belgium, Jeanne Haze was born. As a result of the French Revolution, Jeanne and her family were exiled in Germany, during which lime her father dled. Jeanne was consclous of her vocallor) early In her Ilfe and was drawn to helping those most in need. On 81h September 1833 Jeanne, and her sister, Ferdinande, made their perpetual vows. The two slslers were jolned by other youn9 women wishing lo lead a religious life. Jeanne received the name Mother Marie Therese, with Ferdinande receiving the name Mother Aloysia. Along with Sisters Clara and Constance, and two poslulants. the Congregallon of the Daughters of the Cross was born. Thls small communily of Sisters responded whenever they could to the needs of the people around them, nursing the sick in their own homes, caring for women prisoners, leaching children by day and adults in the evening. The COngregat￿n of the Daughters of the Cross of Lieg¢ 2

Trustees, rgport Year to 31 March 2023 4 Charity's aim and objects Iconlinuedl Blessed Marie Therese was beatified on 21 $1 April 1991. She died on 7th January 1876, by which tirne she had received more than 900 Sisters into the Congregation and founded 51 communities. These communities were spread across Europe and Asia., Germany (fo￿nded In 18491, India {18611, and England 118631, when the English Provinco wa5 eslablisheé. In 1910 the Sist8rs' work was given a more formal framework under a trust deed and in 1998 the aclivilie5 We￿ transferred lo a ¢harilable ¢ompany limited by guarantee, the objects being based on their Conslilution. The charity is established lo.. advance rellgion. by establlshlng and malntalnlng resldencies for the Slsters of the Congregation. advance religion, advance educallon and relieve poverty and suffering, by direct activity in the community and by all other charitable means, including giving alms to the needy. relleve poverty and sufferlng, by establlshlng and malntalning hospltals, hospices, nursing homes and residential home8 for the 8¢ck, elderly and needy. advance edu¢atlon, by establi$hlng and malnlaining ¢du¢alional inslllutions In accordance with Canon 803 oflhe Code of Canon Law. carry out any other charSlable purpose for the benefit of the communlty as the trustees shall from lime to tlme detemilne. For the S181er8, Rellgion Is the ¢ommitm¢nl lo love and serve God as ?xprg55ed In thelr vows and is and always has been the ¢enlre of their lives and everything they do. Thus, 10 them, Reli9ion18 not lust about worshlp ané prayer bul encompasses. among other things, leachlng and carlng for others. To quote from th¢ Sisters, Rellglous Conslilulion "They serve Christ in the works of general and special education, the care of th8 slck and the aged. abandoned chlldren, the physically, psychologically and mentally ¢hallenged, the socially deprlved, local pastoral work and the varlous needs of the Church. The Sisters do not see the above objects as separate acllvlties bul as all part of the one Religious lrfe they have chosen. The Rellglous commllmenl of the S5sters permeates all of the charitable o¢llvlty ¢arrl¢é out in the name of the Province and the charity. 5 Strateglc plans and oblectlves The Iruslees are ¢ontinuing to work on their slralegiG objective of resolving the long-lerm futures for.. The Slslers, Includlng where and how they Ilve and aw supported and ¢ared for,. Holy Cross Hospital, a5 eventually there will be an insufficient number of Sisters with the appropriate skills lo continue to be responsible for the Hospital, whose acllvltles are Gomplex and heavily regulated. The Congregation ol the D3ughlers of the CTQSS of Liege 3

Trustees, report Year to 31 March 2023 5 Strategic plans and objectives {continued} Supporting these longer-term Strategic plans. are the obje¢live5 Qf the Gharity., Ensure that the senior management of the Gharity have Ihe required capacity and capability to run the day-to-day operations of th8 charity in line with their set objectives. includlng meeting or exceeding all regulatory standards. Ensure that the Slsters have the means to enable them lo live Ihelr Ilves as spiritually and actively as possible. Provide healthy, inclusivg, and safe environments for Sister8, beneficiaries. staff. volunteers, and vlsllors. Provlde servlces that are compllm8nlary lo those 2vallabl& locally through th8 NHS and lo do so in Go-operalion with slalulory authorities and other healthcare professionals. Conllnue lo develop 8ervlce8 neur¢-dl8abilily and ?$socialed rehabilllallon of physically disabled adults by Increasing the knowledge and expertise of staff, collaborallng with the NHS and other professlonals and by Improving fa¢illlie¥. Operate the phy8lotherapy centre as a stsryi¢e lo local people, offerSng h￿h quality and acc6ssible physiolh@rapy sérvices and classes. Provide comprehensive training programmes for staff and make these avallable as appropriate lo other local care providers and agency $tsff. Malnlain the ethos of the Congregallon across all areas of the charity. 6 A¢tlvltlos, porfom)an¢o and a¢hl•vèment8 In tho yoar Slslers, and Provlncia181e oblectlves and acllvltles: The acllvSlles of the Sisters and the central offlce are referred to In th18 report as 'The ProvinGe', as a GolleGtive term for their combined aGlivilie5. Holy Cross Hospital and the acllvilies that lake place Ih8re, are descrlbed separately, as the Iwo parts of the charity operate qulle dlfferenlly on a day-to-day basls. The oblectives for the Province for 2022123 were.. To complete the major building works on our Cheam site These projects all suffered delays during and since the Covid-19 lockdowns and associated delays wlthln councll planning deparlmeNls and global supply chains. The projects lo build or redevelop four dwellings for the Sisters were unfinished at the balance sheet dale, and are expectad lo be completed during 2023124. Tc review the long-term plan5 for Sisters, residences These plans remain on hold, largely due to delays with the various propety projects described above. This work rolls on into next year. To complete the move of the Provlnce central offl¢e Into the St Josoph's building in Cheam The central office moved from Chelsea to St Joseph's, North Cheam Irb January 2023. The Congiegztion of Ihe Daughlers of tlie Cross of Liege 4

Trustees, report Year to 31 March 2023 6 Activitiesy performance and achievements in the year Icontinue¢Jl To resolve the future of St Willrid's, Chelsea The properly was placed on the open market in May 2022. Desplle consiéerable Interest and coming close lo completing on a deal lo sell the property, the sile remained unsold al th8 balance sheet date. The property was re-marke18d for sale in September 2023 and the trustees continue to work with advlsors to achieve a sale 2024. To Gomplete the redevelopment project at Holy Cross Hospital The project to create iwo new patient beds. extend and redevelop the staff training facilities, and other buildlng work on Sl Margaret's and Sl Joseph's was almost complete at the year- end dale. Phase two of th8 redevelopment project will lake place during 2023124. Th8 main acliv1118s of the Provlnce are.. • the welfare of the frail and eld8rly Sls18rs', • the Indlvldual mlnlslrles ol the Slslers • the support of Holy Cross H05pilal,' • the support of the former Works of the ch8rlly', and • the support of the Worldwlde Congregallon. The Provlnce conllnuas lo have a presence In England and Ireland. The Sisters conllnue lo fulfll the obleclives of thelr Rellgious Conslllutions, which are further rofleoled in Ihe charitab18 company'8 Memorandum and Arllcles of A8soclatlon. The Slsters 8re Iruslees, part of management, donors, and beneficlarles. The Iruslees, Ilke all our Sisters, covenant their pensions and other income lo the charity. Having lak6n a vow of poverty they have no financial resources of thelr own and they are provlded for by the charlty as beneficlarles. The Slslers have spent their enllre working lives in one or other of tb& past or present Works and when they reach their later years the charlty oontlnues to care for them. As Slslers age, the care and support they requlre In thelr Communllles Is gradually increasing. The Sisters Gonlinue lo fulfil the objects sel out in both their Religiou5 Constitutions and in the charitable company's Memorandum and Articles of Association, despile th& advancing age and frailty of some of the members. The Sisters provide in-house facilities in England and Ireland to meet the need of their growing number of very frail and sick members, who need full tlme care. For Sisters with complex h¢2llh¢are needs the Congregation may purchase a separate care provlsion. The Congregalion of the D3ughlers of the Cross of Lieoe 5

Trustees, r8port Year to 31 March 2023 6 Activities. performance and achievements in the yoar (Gontinued) To Complete the redevelopment project at Holy Cross Hospltal (continued) Several of our Sisters are trusloes of other charities (where they 8Ct as individuals, not on behalfollhe Province). SislerAnnetle Clemence, Sister Pal Ainsworlh, and Sister Veronlca Hagen are trustees al St Ellzabelh's Cenlie. As well as b8ing Iruslees. the Sisl&r8 have roles as school governors (Sister Annelle and Slsler Pal), a college governor (Sister Annell6), and a member of the heallh¢are quality committee (Sister Veronica). Sister Veronica and Sister Kathleen O'Reilly are trustees of Sl Rapha81's Hosplce. Sister Kathleèn is also a member of the Hospice finance committee and Sister Vergnica sils on Ihe income generallon commlttee. Five slslers serve as Trusleos for our own charity. A sister 18 appointed lo support each of the groups of lay people, who are associate members of the Daughters of th8 Cross. These groups are based In Cheam, Carshallon, Much Hadham, Jarrow. Dublin Ilrelandl, and TraGey ICalifornla}. The Provincial Superior and Provlncial Bursar are members of Conference of RelSglous In England and Wales and the Associallon of Provincial Bur88r8 re$pe¢lively and parliclpaled In the Annual Conferences In 2022. Slslers are members of the AssocialSon of Senlor R&llgSou$ JPIC. Ouring th• ygar, the Province subscribed lo membership of the Rellglous Life Safeguarding Service IRLSSI and the Calhollc Safeguardlng Standards Agency ICSSAI and are in the process of refreshing our own safeguardlng procedures. The governan¢8 and overslghl work Ihe3e Slslers do In the various charitable organlsallons they support is parl of their misslon and conlrlbullon lo civll soclety and local cgmmunllies. The Provlnce has Iwo dedScated Care Communllles lo support the full-lime care nged8 of 16 frail elderly members. The Communllies are based in Haslemere, Surrey and Slillorgan, Dublin. Thls arrangement enables these Sisters lo continue lo parliGipale In the 6pirllual rhythm and ¢ompanlonshlp of Communlly lrfe, whilst continuing lo rgceive the care Ihgy n•od. No Slsters arg in paid employment anymore. All Slsters are over 70 years old, so it is unlikely ar¢y will carry out paid employment In the future. However, Sisters rgmaln very acllve and carry out a great deal of unpaid work in a variety of sellings. With expert advice, the Sisters manage the income and reserves of the Provlnce In a so¢iolly and environmentally responsible manner, lo ensure we can support our commitments both al homo ané abroad. Each Sister is sUPPOrted in their chosen ways of volunteering in their neighbourhood. Examples are organislng chaplaincy SLJpporl, offering spiritual andlor pa81oral companlonshlp lo puplls, palien15, staff and relatives within our own hospital (Holy Crossl, or in our previously owned services that are now Independent charllies. Sisters also take part in ecumenical actlvilies, particularly those helping homeless people or those on low Incomes. The Provlnce continues lo support a charity that supports victims of huma Irafficking and from Ihis year has started lo support Llving and Dylng Well's work in the end-of-lrfe debate. The Congtsgation of the Daughters of tlie Cross of Liege

Trustees, report Year lo 31 March 2023 6 Activitias, performance and achievements in the year Iconlinuedl To complete the redevelopment project at Holy Cross Hospltal (continued) Some examples of mission work carried out by Sisters during the year in¢lude working as volunteer befriender through the Marle Curie charity lo support people living with cancer; working with Resull¥UK on Gampaigns around nutrition in developing countries. ¢reating the political will lo end poverty, 'giving a voice lo the voiceless,, and 5UPPOrting asylum Seekers comlng to the UK. Our Slsler based on Holy Island has recommenced her pastoral support to the Catholic community on the island and is on¢8 again activ& in the island's ecumenical and soclal ne￿OrkS. Slsler Ann Venlta, a member of our Cheam community, volunteers al Sl Rapha81's Hosplce on 3 daily basis. Thls can Involve speaking to patients and their familie$. writing Gards and lellers lo families, and arranging for patients of all faiths lo speak with or receive visits from mlnlslers of their own religlorn. Slster Ann also volunteers in the Hospice's Wellbelng Contre, wh$r& th$y welcome cancer palients, hospice al hom& patients, and their families and provide emollonal support, fun, exerclse, and joy. Our Slslers In Irelané hava welcomeé two Ukralne famllles who have sought refuge from the Invasion by Ru$¥ia, The two familles are livlng on tho Slillorgan $lle, and is part of an agreement 5ign8d wllh the Irlsh Refugee Councll. The agreement Is for 12 months and can be renewed. Both famllles have settled in well and inl?raGI wllh the Sister5. The chlldren allend local schools and have a safe gaTdgn lo play in. Slslers in Ireland ctsntinue to be Involved In their local community, with Sister Marlen6 Sylas involved in the work of the local Parlsh, and Sister Joyce Culllnano ¢onllnulng her many years of worklng and volunteering al Sl James's Hosp11al, Dublin. The SSslers also continue lo be involved with The St Stephen's Green Trust, where our endowment conllnues lo fund vital work in the area of Soclal lusllce. The Daughter¥ of the Cross gave the Trust a É3m permanent endowment In 2003 and the Income generaled from that sum is spent supporting the work of the Tru81 in Ireland, in line with the Deed of Glft. The work of the St Slephern's Green Trust In the areas of rellef of poverty and advancing welfare and health in Gommunilles Is very G103ely aligned with the charitable alms of the Daughters of the Cross. Sl$ter Gllllan Prl¢e works ¢l¢xely with RESULTSUK and JPIC (Jusll¢e Peace and the Integrity of Creation) with Iheir advocacy work on nulrilion, healthcare, and ending poverty in developing countrie8. including engaging with MPS ané other parliamentarians in order to use UK overseas dev8lopm9nl aid effectively. Th8 Sisters care deeply about their own impact on the environrnent and nature. They continually seek lo address environmental and ecological issues and rNaximi5e reusing and recycling in their own living areas, caring for local wildlife, conserving water, and engaging in citizen science projects that support blodlverslty and protecting UK wildlife that is under Ihreat. At 31 March 2D23 there were 35 Slsters133 in Communities and 2 on the General Counclll in the Province12022- 35 Sisters133 in Communities and 2 on the General CDun¢il)l- No Sisters died during the year. The Congl'egalion of the Daughlers of Ilie Cross of Liege 7

Trustees, report Year to 31 March 2023 6 Activitles. performance and achlevements In the year {conlinuedl To complete the redevelopment pmject at Holy Cross Hospital (continued) Number of Sisters 40 35 30 25 20 Is io under 80 89-89 90-99 100 & over Total 112022 • 2023 The Sisters normally spend lime on retreat each year in silent conlemplalion and prayer. The purpose being lo deepen their own spiritual life and lo reflect on and evaluate how they are fulfilling their commitment lo helping those most In need. The Province's frail and elderly Slslers are cared for In appropriately adapted accommodation in Haslernere, Surrey and in Slillorgan, Ireland within a Community selling and with the help of lay staff. The costs are significant, bul il avoids the need for Slslers lo go into the full-lime and even more expensive care of others. Sister Communities are also supporting adult groups known as As50ciales of the Daughters of the Cross. These are people who wish lo embrace the Charism and Ethos of the Congregation and who in turn support the Congregation's ministries with their prayers. The English Province Sisters support Associates in Carshallon, Cheam, Jarrow and Much Hadham in England, Slillorgan in Ireland and Tracy in the USA, and there are other groups of Associates in many of the countries in which the Congregation works. The Province supports the Worldwide Congregation in variou5 ways. The English Province onlinues lo provide two members of the General Council,. Sister Maureen O'8rien and Sister Mary McLaughlin. The Province continues lo holé the Worldwide Fund designated fund, which enables il lo provide grants for the International Generalate lo support other Provinces around the world. The Province pays an annual contribution towards the running of the International Generalale and the costs of the Chapter and General Meetings. The Congwation of the DaL5ghters of the Cross of Liege

Trustees, report Year to 31 March 2023 6 Actlvltles, pèrfomance and achievements In the year Iconlinu8d} Holy Cross Hospit81 Working in close co-operation with the NHS (from which most patients are referred), Holy Cross Hospital provlées high quality inpalienl services lo adults with severe and complex neurological disabilities or illnesses thal may arise frorn acquired brain injury. spinal cord injury or advanced 81age of d6generalive illness.11 also has a physiotherapy c8nlre which houses the hydrotherapy pool, enhancing Ihfj Irealmenl of some inpallen15 and providlng excellent facilities for oulpalienl Irealmenl. The Hospital makes the benefits of physiolhempy and hydrotherapy avallable lo as many local people as possible. The Hospital is also able to provide short-lerm rehabilitation and respite care. Most of the inpatl8nls referred to the Hospital have been in contact with slalutory services and most of the Hospital's income is derived from NHS Clinical Commissioning Groups ICCGs}, replaced in July 2022 by Inlegraled Car$ Boards {IC881, and Local Authorities, who are re$ponsible for fundlng su¢h healthcare services. The Hospltal alms lo aGhleve the best posslble quality of life for all those uslng Ils servlce8, with a high priority being given lo engaging Ihg support and participatlon of family members. Some patients require access lo the Hospital's services over prolonged periods, therefore great effort 18 devoted lo moking the envlronmenl as home-llke as possibl8, lo which donatlons and the work of volunteers make a major conlrlbulion. The Hospital has forty beds and achieved an average of 93.S•A In-pallenl oGGupanGy12022 88.80/0)- The Incre888 In occupancy was related lo the sl8adlly reducing Smpacl of the Covid-19 pandemic, with a consequent Increase In the number of suitable pallents balng referred lo the Hospital. Recovering occupancy lo pre-paridgmic levols and securing the staff requlred to dellver servlces were the prlmary areas of focus this year. The Hospltal has malnlained 118 Outslandlng CQC rallng. The year In review wa8 one of significant change and challenge al the H05pllal. The Hospllal CEO reslgned In August 2022, wllh an Inlerlm CEO In place for the rernalnder of the year. Throughoul the year the large building redevelopment prgjeGI took place which, whlle necessary for the long-lerrn future of the Hospital, did ¢reale some short-18rm challenges on-site. However, dLJring this year of slgniflcanl upheaval, patient care remained our lop priority and high levels of care were mainlainod Ihroughoul. Grants Although grants were awarded each year, the charlly Is not primarlly a granl-maklng charlly. Before every grant is approved, a request for appropriate information to 5UPP¢rt the grant Is made lo ensure that il Is withln the charllable objectives and being made to an organisalion or on a projeGI which the trustees wish to support. The impa¢t which the grant would makg is also considered. For all grants made wlthin the Worldwide Congregation, reports are received {including photographs) to show what has been achieved with the funds. During the year there were £165.00012022- £146.0001 of worfdwide fund grants made to communities of the Worldwide cOng￿g#tIon lo help Ihelr work In poor local communities in Cameroon, Nepal, and Rourkela, India. The Congregation of Ihe Daughters of the Cros5 0* Liege 9

Trustees. report Year lo 31 March 2023 6 Activities. perfomiance and achievements In the year leontinuedl Grants fconllnued) Two grants were awarded lo Nepal, both supporting the work being done by SI51ers al the Christalaya convent in East Nepal. The total of the two grants was £40,000. The first project is to SUPE)Ort the children al the Chrlslalaya Hostel in Maheshpur. Maheshpur is an area where a high percentage of the population are landless labourers, working in the tea gardens and paddy fields, while living in small ?GGommodalion provided by Iheir 6mployer8. The children of these workers, as well as girls Ilving in challersging and Impoverished homes are given a¢cess lo good quality education, medical care and wellbeing services, and are able lo learrb crafts and olh&r skllls needed in later life. The Hostel currently has 30 boarders, from very young Ghildren lo college-age slud@nts. The Mornlng Slarl Nursery provldes the younggr children with good quality early year$ care and development, lo prepare them for school. Last year il had 37 children allending regularly. The Hostel also provldes medical and pastoral eare for the children. The £10,000 grant wa$ to pay for food, lollelries, and equlpmenl used by the children, and pay the costs of tho teachlng and support staff. The second project was lo support the St Jo$eph'8 school in Tulaohan, East Nepal. The school was started In 2015 and provldes education for up lo 276 pupils, up from 195 in prevlous years. The area has a low literacy rate and many people In the Sanlhal TTibe, who populate Ihls area, earn Ihelr Ilvlng as agrlcLJll￿rSl labourors, but do not own any land themselves. The grant of £30,000 was lo fund buying book8, uniforms, desks, benches, and chairs for the puplls, as well as covering the costs of Ihe loaching and non-leaching staff. The grant also covered the $¢hool fees for 110 Children, who come from families who are not able lo afford lo pay themselves. Due to the risln9 number of pupils, Six more teachers were re¢rulled this year. In Rourkel8. India, two grants of £24.000 each were awarded ID th8 Daughters of the Cr088 Rourkela Province. The first project was lo fund the completion of the developrnenl of the Sl Joseph's school In Gaibira. The pandemic meant that the financial r050urces of the Rourkela Provlnce are depleted, and tha Sisters there have been unable to fund the much- needed development of the school Ihal is linked lo the St Joseph's convent. The school was closed during the pandemic bul has re-opened ils doors and welcamed the children back. The grant will fund the conslrucllon work Ipaused dug lo Covid lockdown81 that wag Started lasl year (also funded by a WWF Grant from the Engllsh Provlnce), which will allow more students lo attend the school and will provide a beller leaching and 18arning ellvironmenl. The second grant, also for £24,000, is to fund a project at the Sl Joseph's school in Sundargarh. Due lo culbacks in local government support for education in the locallty, the Slsters have had lo lake il upon themselve8 lo help educate the children of the local tribal people. There are 247 children al the school (up from 210 last yearl and the grant will allow the Sisters lo maintain their education and keep developing the school, so il continues to meet the needs of the local people. The Congregaiion ol the Daughiers of the Cross of Liege 10

Trustees, report Year to 31 March 2023 6 Activities. performance and achievements in the year Icontinuedl Grants (continued) Several grants lotalling £77,000 for projects In Cameroon were also awarded. These are for projects across the dlfferent parts ol the country where the Sisters live and work. In rec&nt years this activity ha$ been severely restricted by civi1 war and lerrorisl group8. 80 th8 grants h8lp to cover the costs of re-starting the work of the Sisters in Cameroon, buildlng the Infrastructure (such as boundary walls, a well, and solar power) and supporting the development of the novice Sisters. A grant of £1,750,000 was paid to Sl Elizabeth's Centre during tho yoar, lo assist with high costs durlng a perlod of reduced Income. Thls grant Is shown within Charitable activilles (Grants and donatlonsl on the Slalemenl of Financlal Activllies. The Sisters also made grants and donallons lotalling £32,00012022 - £29.0001 lo projects In the UK and lo emergency d18a8ler rellef appeals. These include £10,000 lo CAFOD for Ihelr Turkey and Syrlan earthquake appeal and £5,000 lo their Pakistan floods appeol. £10,000 lo Living and Dying Well. £5.000 lo the Medaille Trust and £2,000 to th8 homeless charlty Glass Door. Other smaller donatlons lotalllng £400 were awarded lo other organisalions such as Houslng Justice and the Cardlnal Hum¢ Cenlre. 7 Voluntegrg The Sisters are Aposlollc Rellglous volunteers and the whole of their lives is given lo helplng those In need. The truslee3 and staff are very grateful lo our volunteers, In whatover role they ¢arry oul. across the charity, who give freely and generously of their Ilme and who bring 6nlhuslasm and dedicallon. They make an enormous ¢ontrlbullon lo the lives of the ben8flclarle8 and th8 su¢¢•$3 of thg charlty. Al Holy Cross Hospital volunteer8 make a slgnlficanl contribullon lo th• aclivitles of the Hospllal. They contribute to patlenls, quallty of life by 8UPPOrting social actlvi1198 In the 'Living Room. and outside in the wider community by helping wllh transport, oullng$, and fundraising through the Friends of Holy Cross Hospllal. 8 Flnanclal Revlew Ilncludlng re8erve81 Results The Statement of Financial Activities shows an overall result of £9.9m deficit, which 18 made up of a £9.8m defi¢it in general fund5 and an £82,000 éefiGil in re$lrlcled funds. The losses on investments of £6.2m make up the majority of the £9.9m deflcit. However, there was also a £3.7m operatlng deficlt, which Is driven by several factors across the harity. During the year there was a £1.75m grant paid lo another charity {Ihe Sl Elizabeth's Cenlre). High inflation has driven up staff costs this year, as wo11 as affecting non-pay expenditure such as energy bills gnd withln the Province there continued to be significant non-capilal expenditure on our properties. Income challenges su¢h as lower Hospital patient occupancy and Investment income stlll recoverlng also affected the in-ye8r flnancial performance. The Congregation of the Daughters of the Cross of Liege 11

Trustees. report Year to 31 March 2023 8 Financial Review {including reserves) Iconlinueé) Results (continued) Within the Province, there was Signifi￿nI expenditure lalmosl £1 m) on propety projects throughout the year. Some of these are capital prolecls th21 either finished during the year, or ar8 ongoing in 2023. whereas some were non-capital projects. Costs supporllng the members of the congregation were up again this y8ar, al £3.7m {2022 - £3.5m). These projects look place across our two large siles In Haslemere and Ch8am. As well as the significant spend. there was Considerable lime and energy spent on properly matters during the year. This includes moving the Chelsea and Much Hadham communities, as w811 as the Provincialate offlce, lo the Cheam site. In addition to this. there was considerable lime and money spènt gelling the Sl Joseph's building ready for the new ommunily livlng there, and the office and archives of the Provlnce moving from Sl Wilfrid's, Chelsea. Within the Province, Income from investment$ was £2.5m12022- £2.6ml. But, looking back lo pre-pandemlc tlmes 120181191 Province investment income was £2.95m. The fall In Income in the past foul year8, whilst also sufferlng cost Inflallon ovèr the same time period. means 11 conllnues lo be challenglng lo meet all the needs of our beneflciaries and other people we work with some of whom ar6 8xperienclng very challenglng e¢onoml circumstance5. However, fund8menlally, the current income model ¢ontSnues lo work for the Province and only a longer-term, systemic change in markets and divldend payments, or a permangnt shlft in the Province's cosl-base would create a cause for a realignment of the income model. The Provlnclalale team conllnue lo tslk wllh the invgslment m8nagers lo ensure the Sllualion Is ¢105ely monitored and managed. Holy Cross Hospltal has worked hard over recent years lo agree a level of fees with CCGS, ICBS, and Local Aulhorllies that cover the full cost of providing Ihg appropriate level of care for 11$ patients, with NHS funding authorities awarding fee upllfts In the range of 3.5Q/o lo 40/0. Howgv$r, while this helped to increase patient income by 10Vo, Wlth costs rising al an even greater amount, the Hospllal agaln recorded a deflcll, even bgfore charlly-wide support costs are allo¢aledl- Staff costs of £5.4m are 689A {2022 - £4.9m and 670/0) of its running costs, whi¢h is not unusual in healthcare selllngs. The Hospltal had Income from H¢allh and Local Authorities of £7m (2022 - £6.2ml. £249,00012022 - £335,000) of income from prlvale patients, and £276,OODk of other income12022- £316.000). The total ¢051 of running the Hospital before charltywwlde support costs was £8m12022 - £7.3ml. The trustees, and marTragement's focus at the Hospital is to ensure a stable and Improving financial operating model, so that it can continue lo run successfully in the future. Investment gains and losses There were Investment 1088es of £6.2m for the year (2022 - £5.3m gain}. These are explained irn the section on Investment performan￿. Tlie Congreg81ion of the Daughters of thè Cross of Liege 12

Tru$teos' report Year lo 31 March 2023 8 Financial Review lin¢luding resèrves) {conlinued} Resetves policy and funds The Iruslees are conscious of the requirement to balance the needs of present and future beneficiaries, especially the Sisters current needs versus the changing needs over the next 20-30 years. This means that each year they consider whether lo increase the proportion of resources alloGated lo general and designated funds reserves or whether lo Invest more in areas such as fixed assets, staffing, and Iralning to malnlaln, Improve or develop services to beneflciarles. A thorough revlew of the charlly's reserves was conducted during the year. The result is a new policy for the general funds reserves. A further revlew of our designated funds has b¢en defarred lo 2023124. The previous pollcy was that the charlly should hold free reserves of be￿een three and slx months of normal, unreslrScled expenditure. The poli¢y revlew 80ughl to allgn the18vel of reserve8 with the major risks faced, and tho polenllal flnanclal effeGl¥, should one or more of these risk events oocur. Truslee$ acknowledged that given the volatile nature of exl&rnal marke18 at present. it is possible that soveral risk events could happen al once, or that one event may trigger a Series of challenges, and so il is prudent lo sel the reserves al 818vel that could wllhsland the full •ff&¢l$ of the major risks. The reserves policy stales Ih8t £10.7m shoulé b& held a8 free reserves, and that half of Ihls flgure should be held in cash, wllh the other half held In Inv¢8lmenl assets lo mlllgale Inflallon rlsks over the meélum lo long term. The $19rsificanl r15k5 faoing the Gharily include sudden18rge falls to major income slr6arns such as fee Income at Holy Cross Hospllal and Income earned from the Investment porttollo. Other elemenls of the policy include re8erve5 to protect again$t adverse evènts or lo enable an orderly winding down of thè charlly should that need arise. The free reserves, whlch are funds Ihat are neither restrlcled nor des1gnaled for a defined purpose, are represented on the balance sheet as the Genera5 Fund. Once Ils level is decided, trustees can consider th$ ¢harily's other needs and what funds are available lo be deslgnaled. Thg General Fund (free reserves) at 31 March 2023 stands al £10.7m12022- £9.5ml. Thi5 is In line with the free reserves target of £10.7m. Having sel this target reserve parl way through the year. the Iruslees are satisfied that the level of reserves have met the largel, and that over the coming months the charity will work towards meeting Ihg se¢ond-levg1 largel of holding half of the free reserves in c8sh. RestriGted funds Reslricled funds of the charity relate to the SLJrplus monles which have either been raised or given for, or their use reslricled lo, specific purposes or which comprise donations subject lo donor-imposed conditions. Al 31 March 2023 they amounted lo £1.5m12022 - £1.6ml, ol which £1.4m 12022 £1.5m) is in respect of a legacy given for the benefit of Holy Cross Hospital. The legacy was partly used lo build a Hydrotherapy Cenlre, with the remainder (the reslricled fund} being Invested so the Income generated can fund the malnlenance costs and keep Ihe facilily running. The Cofigregatson of the Daughlers of the Cross of L1e9e 13

Trustees. report Year to 31 MarGh 2023 8 Financial Rev16w Ilncludlng reserves) Iconlinuedl Deslgnated Funds The fixed asset fund amounts lo £33.5m {2022 - £32.7ml and rela185 to those fund8 Invested In langlble flxed assets. Other designated funds are established out of general funds where there is a need lo provide funding for a speclfic purpose. Th8 funds include- The Daughters of the Cross fund stands al £43m12022- £45ml. Thelgvel in the Daughter8 of the Cros8 fund reflects the ¢onlinued (and future) decrease in covenanted Income of the Slsters. The cost of runnlng the Communili8s has not materially decreased over recent years, despite the reduction in the number of Sisters. At present, Sisters - including the frail and elderly - Ilve In communlty. Two communities have a staff team lo provide care and other support lo Ihe Sisters who need 11. While these costs are slgnlflcant, the current arrangernenls allow for the Sisters lo live and lake parl in religious community life withln the convenl. Were Slslers to be re5Idenl In a care home this would incur high&r ¢o$t¥, and the Sisters would lose the spiritual connection of living in Gommunily. The shorttall in covenanted income lo meet the Si$ters' Ilving costs musl be mel from investment Income. The current slze of the fund that provides this incom¥ ha5 been nacessllaled by Ihe po81-pandemic lower yields we have been experiencing wilhlrt the Inve51menl portfolio Sir￿ 2020. The Income from Sisters p&nsions Is consldeTably lower than the annual day-to-éay IlvSng ws15 of the Slslers across all of our Communltles. The shortfall Is approxlmalely £1 m, and this can only be made up from Income generated by the investment porffollo. Ylelds fell during 2020121 and have be&n slow lo recover 8ver slnce, so, a subslanllal fund 19 sllll required lo ggnerale the required arnounl of Income, 91ven we are sllll seelng Income ylelds of approxlmalely 2.50 ProvinGlalate fund of £34m (2022 - £31ml. Thls fund has been 951abllshed so that the Income generated by the Inveslmenl asse15 wilhln it wlll meet the runnlng costs of tho ¢harity $ ¢enlral core functions. This facility will be required for the foreseeable fulure as the Provlncialale office has no Source of income other than investment income. The fund has been increased lo meet the growing costs the charilyfac8s due lo high inflation pushing up Ihe Gosl of goods and services. Th& £10.8m 12022 - £23.2m) Charitable activlties fund reflects the conlinuallon of the staled oblecllve lo plan for the future of the current and former charitable Works so they can continue their muGh-needed work. This will involve improving thelr physlcal and digital infraslru¢tur8, and ensuring their services are compliant and fil for current and future purpose. The Works, flnances are very marginal, particularty in the current climate of central governmenl and lo¢al authority budget cuts. The fund is also In place lo fund other long- lerrn needs of the Sisters, such as ensurlng approprkate housing and maintaining and enhancing existing properties. The Congregation of 11)e Daughters of Ihe Cross of Liege 14

Truste￿, roport Year lo 31 March 2023 8 Financial Review (including ￿serveS) l¢ontinued) De$ignat8d Funds (contlnued) This fund is invested lo underpin the wide neeés of the Works and Ihe charitable activities within the Province. The needs are connected with the obje¢live of finding long-lerm se¢ure futures lor the Works, securing the value of the exisling land and buildings within the Province, and the long-lerm a￿￿mMOdation and other needs of the Sisters.11 is dtfficull al this time of great change, both internally and externally, lo calculate the funds which may be requlreé to secure those futures. Some of these funds have been ulilised over the past three years, by building new dwellings for Sisters as well as s1gnificanl refurblshment of exlsling buildings, as well as supporting one former Work with a grant of £1.76m during the year. The fund has been further reduced thi8 year, not because of lack of need in th& areas this fund is sel up for, but beeause of the fall In thè value of our Inveslmenis slnce the previous year.end. Unrealised investment losses of over £6m this year, means that the charity 15 not currently ablg lo d&signal& as much as11 would like lo fund these challenge$. Worldwide fund of £8.Om {2022 - £8.Sml. Thls fund Is invested lo produce annual Incom8 lo me81 charitable needs across the worldwide Congregation. The decrease represents the fall In investment valu81ion8, as well as the grants paid out durlng the year for projects In India, Nepal, and Cameroon. Si Raphael's Hospice fund of £2,7m12022 - £2.7ml. This fund was eslabllshed al £6.3m following discussions between Iruslee8 and the senlor management team al the Hospice. £3.6m was paid across lo the Hospice upon separatlon, and the remalnlng £2.7m Is belng held 88 a conlinggncy agalnst the rlsks of delay, variancos again81 Inflallon assumptions bulll into the new busSness model, and posslble future volalllily In legacy income. The expeGlalion 18 that this fund will begln lo be ulilised from nexl year. The £98.5m other d88ignaled funds (i.@. not includlng the langlble fixed assets fund) are repr8senled by fixod assgt inveslmenls. Ovgrall The overall position 15 that total funds have decreased over the year by £9.9m 12022 £3.4m increasel. Th58 is malnly due lo the £6.1 m decrease In the value of the Investment portFolio, as well as the £3.7m In-year operating deflcit. Al 31 March 2023 the charlty has total funds of £144.2m {2022 - £154.1 ml. 9 Investments Investment poliry The charity's investment objective is lo preserve capital value in real lerrns and lo achieve a growing level of Income over lime. The day-lo-day operatlon of the portfollo is managed by three investment management firms, who musl each operate in line with risk and other parameters set out in our investment policy statement. Their approaches and strategies are all different, which gives additional diversification and contributes to the management of the various risks involved in holding investment assets. The Congreg31ion of Ihe Daughters ol the Cr055 ol Liege 15

Trustaes, raport Year lo 31 March 2023 9 Investments l¢ontinuedl Investmentpolicy (¢ontinued) The charity has had an 'elhical' investment policy for many years as they believe that the practice of holélng Investments musl be done in line with the Sisters, elh05, values. and spirituality. Inevitably this means that some investments cannot be held as they wlll be incompatible with the values of the Congregation and Catholic So¢ial Teaching. The Iruslees are comfortable that the long-lerm total return on the investments is not materially negatively affected by the exclusionary screerss that form part of the ovèrall investment pollcy. The Investment pollcy Is r8vl8wed every year by the trustees, In consultalkjn with the finance advisory committee. The Investment poliGy slates that no charlty funds are lo be directly invested in companies which ggnerale significant income from armaments, adult entertainment servi¢es, high inleresl lending, companies who breach modern slavery standards, or oil and gas companies that are not actively working towards meeting the goals of the 2015 Paris Agreement. Also excluded are companies whlch are Involved In areas of aclivlly eonlrary to the 3anGlity of lifo. For Gertain areas of Inv8slm8nl sl8ward5hlp (for example the environment or corporal governance), th8 policy 58 lo adopt an '8ngagement" approach, whlch means u$ing th• charlly's posllion a3 ? Shareholder. through ils Investment managers, lo encourage ¢¢mpanles lo adopt more elhieal and socially responsible policle5 and procedures, such as meeting Nel Zero commilm8nls. The investment managers, ellher internally or by uslng external agencles, monltor the actlvllies of those ¢ompani0s in whlch the charlly Is Irsvesled, nd the results of that monlloring are reported on and considered by the committee al all Investment meetings. Our managers are asked to ellher follow-up on issues that they are currently engaging on, or we ask them lo start lo èngage with companies on other speciflc loplcs of envlronmenlal, governance or societal Issues. The charlly's investment pollcy underwgnl review during the year, to ensure11 ￿M81n8 flt for purpose and relevant to the present and future Issues surrounding charity Inveslmenls, particularlyfaith Gharilies. There are various inilialives around failh<onsislenl investing and the rose of catholic soclal teachlng when selecting Investments and the trustee$ ore engaging with these al an early stage. These are longer-lerm processes and, while similar lo 'ESG" ¢on5iderations, require deep thought on the interplay of faith and the financial system, so results will be seen over a perSod of years. In￿stment management, r•vl•w and performancè The portfolios are invested for the long-lerm and comprise listed UK and overseas equities and flxed Interest stocks (bonds), wllh an exposure lo commerclal property and olher 'alternative' investments. The investments comprise direct company holding5 in both equities and bonds, together with pooled funds which are used by oach of the managers to gain specific exposure ar￿ lo manage risk. Income Is withdrawn to meet central costs and the needs of the Sisters, and lo fund th¢ Worldwide Fund grants. The Congregation ofthe Daughters of the Cross of Liege 16

Trustees, report Year lo 31 March 2023 9 Investments Iconlinuedl Investment management, revlew and perfom?ance (continuecl) The portfolios have a signrficanl exposure lo global equity markets and the Iruslees therefore accept that there Is Ilkely lo be considerable volalilily in values. The strategic asset allocation of the overall portfolio. as well as the three individual portfolios, 18 continually monitored by Iruslees. in consultation with th8 inv8Stment managers and the Finance Advisory Commlttee (which includes all Iruslees and volunteer indep6ndenl investment advisor51. This group is satisfied that all the movements in Investment values were withln acceptable paramelars. The Investment market was agaln dlfficult and various asset classes performed poorly over the year, which is reflected in our resuItS to March 2023. The portfolio saw large 108$e8 across th8 first half of the year IApril September 20231. And although the aclober lo March period saw small reGoverles In markets, these dld not make up for the falls in values in Spring and Surnmgr 2022. Thg overall rosull is that our Investmént portfollo dropped In val￿e over th8 year, falllng from £112.2m in April 2022 10 £105.8m In March 2023. The Inv8slm8nls wlll conllnue lo be carefully monllored as markets and economic conditions remaln volatile and investment in¢ome rtsmains a ¢hallenge lo gel back lo pre- pandemic l&vels, given the current economlc climate of high inflation, ri51ng interest rales, and global supply chaln delays. Each of the three investment managers, re$ull$ are revlewed formally al meellng8 twlce year, where up lo dale report5 are Teviewed, performance against benchmarks is consldered, and ar)y issues con¢erring ethlcal inveslmenl or corporate governance ar8 discu$5•d. Composito b&n¢hmarks a￿ arranged in consullalion wllh each manager reflecting the agreed asset class allocations and using appropriate indiGes for each asset ¢la55. Whgre a¢lion is ne¢os$ary this is agreed and the acllons are monllored to ensure11 was taken. Actual performance against the benGhmarks for the 12 months lo 31 Mgrch 2023 was as follows: 2023 A¢tual Benchmark 2022 Actual 88nchm8rk Shown on a total relum basls BlackRoGk Sarasin Evel n Partners 13.SOI 14.201 13.601 1.75 12.401 12.201 11.76 6.00 8.80 12.00 9.10 13.60 The IrLJStees continue lo be satisfied wllh their investrnent managers, actions and performance over the past 12 months. All three recorded105ses for the year and all three were below the benchmark returns they are each measured again51. This partly reflects that the oil and gas sector reGorded good results in the laller part of the year. BeGause we are not invested in these companies, due to our ethical policy. our actual results wgre below the benchmark. Our portfolios are a150 underweight very large tech stocks (Meta, Tesla, Apple elcl, which make up a large proportion of the US market's returns. ri)e Conoreg81on of Ihe Daughters of Ilie Cross of Liege 17

Trustees, report Year lo 31 March 2023 10 Fundraising The charity is registered with the Fundraising Regulator and is committed to adhering lo the Fundraising Code of Practice. There have been no adjudications and no slgnificant failures to comply with those standards. The charity has detailed poliGies and procedures in place to ensure high standards are complied wllh and those procedurgs ensltre that all fundraisers and those who work on the Gharity's behalf are aware of them. During the year, there were no reported failures in cornpllance wlth the Fundraising Regulator or other regulatory bodies. including the Gambllng Commission (2022.. none) and no fundraisiny complaints recelved12022.' none). Holy Cr053 H05piial does not undertake fundraising aclivlly Itself, bul11 éoes bènefit from th& fundraising efforts of another charity. the League of Friend8 Of Holy Cross Hospital. The Province does not undertake any dlrecl fundralslng wllh tho public, nor use the 8ervlces of a Ihird-party organisalion. 11 Rlsk managemont The charity works wllh people who have complex n68ds and caring for them involves arrylng out activities whlch entail Inherent rlsk. Whilst actions can be taken lo monitor, manage and mlligale risks, only a certaln level of 88surance can ever bo oblalned, and Ihe Iru8le83 aceepl that there arp 50me rlsk5 whlch are outside of the charity's dlrecl control, and which cannot bo mitigated. Trustees are neveriheless commltled to malntalnlng hlghly developed risk management processes across the Charlly. There ar8 8eparale risk reglsters malntalned al both Holy Cross Hospital arbd the Provlncialale office. However, some risks carry across both parts of the charity., h5gh inflation, Increasing staff and rson-staff costs, data prolecllon and cyber risk$ ar• all features that need careful management. Al Holy Cross Hospllal, the manag•mgnl team assesses rlsks on an ongoin9 basls, wllh a summary of the major risks being presented lo the advlsory commlllea for di5cusslon and review. Risk8 are a8888sed under four rnain headings., cllnical management., estates, facilities and supply., workforce., and governancg. In respect of cllnlcal management. th? Hospital spgcialises in the care and Irealmenl of vulnerable adults. Detailed allenlion is glven lo the clSnical educatlon and Irainlng of all clinical members of staff and patient feedback 1$ aGtively sought. Where appliGable, policy and practice are upéated by reference lo it. Infection prev8ntlon control Is al80 8 key part of the Cafft and irealmenl of our patients. wiihln the Provinclalate office, the risk register is updated regularly arsd is reviewed by Iruslees al least once every year. Significant risks currently faclng the Provlnts include high infialion eroding the real value of investments and investment income, meaning Income cannot keep pace wllh rising ¢osts. Diversification across asset classes, sectors, gec>graphies and Currencies, as well as actively managing the asset allocallon, are key ways of managing the various Investment ri8ks faced. Regular dialogue with our fund managers lo ensure the investment agreements are robust, bul flexible when required, and that any change In need or future plans is communicated well in advance so any changes can be well planned over time remains crillcal durlng a pèriod of volatility. Th8 Congregabon of Ihe Daughiers of tr)e Cross ol Liege 18

Trustees. report Year to 31 March 2023 11 RSsk management Iconlinuedl Exposure lo risks relating lo the rnajor building projects under construction is still significant bul has reduced in likelihood ovw the year as projects become closer lo completion. While it is a short-term risk, careful management of contractors and budgets is necessary. The Iruslees utilise the services of a Ihird-party proje¢l management firm {a long-standing $uppli&r to th& charity) lo ensure projects are kept on lime and on budget, and any Issues that aiise are dealt with 5wiftIy. The charity maintains a good level of res&rves, and a robust sel of Insurance polScie5, whi¢h also ensure the charity is managlng 118 risk exposures prudently. 12 Events since tho y8ar-gnd and futurè plans There were no Significant events since 31 March 2023. Future plans for 2023124 within the Province includg.. + To re501ve the future of the 29 Tile Street. London property. • To conllnue to fund th& redevelopment projeot al Holy Cros8 Hospital. • To conllnue to review the future status of Holy Cross Ho$pllal. • To Gomplelg the major bullding works in Cheam {Clarke8 Avenue and 571 Gand8r Gr9en Lano). Future plan5 for Holy Cro$$ Hospital Include.. Complellon of bulldlng work lo brlng into use the new patient rooms, refurblsh the former convent buildlng into a staff facllity, and provide new office space and meeting rooms wllhln the Hospital. Conllnue the work lo Introduce a new eleGlroNi¢ pallenl record system. • Digilisalion of archive patient records. Recruitment of a new. permanent Chlef Executive Offlcer of the Hospital. • InlroduGe ultrasound scanning for physiolherapy oulpalients. Tl)e Congregairon of the Dauglilers of the Cross of Liege 19

Trustees, report Year to 31 March 2023 Other malters 13 Public beneflt In rnany different locations both In the UK and overseas, Sislers have lived and worked to help the public - not only lo advance Religion bul lo bring relief and improvement through education, healthcare, and social work and in whal¢ver other ways were open to them. The ¢harity continues in this spirit. Holy Cross Hospital provides services which are not wldely available within the NHS or elsewhere Through the Worldwide fund grants, the Sisters fund projects such as new sGhools and educallonal resources In d8veloping nations including Nepal, India and Cameroon. The various grants lo other UK ¢haritie¥ helps those organisalions to achieve Ihelr own charllable alms. As raqulred by the Charllles Act 2011, th8 Ch8rity Commission has i88ued guidan¢e on the 'public benefit requirernent.. The Iruslees have consldered the guldanee and havg had regard to it when exercislng any powers or dulles lo whi¢h Ihe guidance is relevanl. The Iruslees consider that many aspec15 of th15 report demonslrale Ihe publlc benefll whlch thg charity provides. 14 Tho envlronment The trustees ar8 aware of the charlly's social responsibility lo protect the envlronmenl. The Works have conservation and waste programmes In place lo reduce the consumption of energy and water, lo reduce waste so that as Illlle as possible go&s lo landfill and lo recycle metals, chemlcal$, elc. wher&vgr p03sible. Our Sl Mary's Convent uses solar panels to generate a high proportion of ils eleclrlclly. as doe8 the Hydrotherapy Centre In Holy Cross Hospllal. Whenever si9nlficanl work is carrled out on any of Ihts charity's propertlgs, opporlunllies are taken lo reduc& anergy consumpllon. The Congregation has for rllany years held Inveslmenls in solar and wlnd power and olhar 'groon' onergy funds and regularly engages wllh Dur Inveslmgnl managers on climate change mallers. 1 S structure and governance 1 $.1 Legal struGture The Gharily is a charitable company limited by guarantee and Ils governing documgnls are its M8morandum and Article$ of Association which sel out the objects of the charity, the powers of ils Iruslees and details of its general admlni8lratlon and governance. In terms of Canon Law (which is the law of the worldwlde Roman Catholic Church) the Congregation of the Daughters of the Cross of Liege is governed al an international level by the Superior Genoral and her General Council (the Generalalel. They are elected every six years at a meeting of elected represenlalives from around the world called a General Chapter. At the 2018 General Chapter a Superior General and four General Councillors were appointed for a six-year term. Two of the Councillor8 are Sister Mary MacLaughlin and Sister Maureen O'Brien, both of whorn are Sisters of the English Province. The Congregation ol the Daughters of the Cioss of Liege 20

Trustees, report Year to 31 Mar¢h 2023 IS Structure and governance (continued} Legal structure (continued} The English Province, which covers Communi118s in England and Ireland, Is governed by the Provlncial Superior (Sister Veronica Hagen) and her Provincial Council (Sister Annelle Clemence, Sister Kathleen O'Reilly, and Sister Anne Kèlly}. The Provlncial Bursar, Sister Mary Geraldlne, Is appointed by the Provincial Supeiior and this appoinlrnenl continues until such lime a5 a change is made. By reason of holding the88 offices, these five Sister8 are the current tru8le88. The Worldwlde Congregation ha8 Conslllultons, approved in Rome, which governs how th8 Sisters should organise their affalrs and Ilve their Ilves. A8 well as the English Province, the Congregation h88 a presgnce in Belgium, Brazil, Cameroon, Germany. Indla, Italy, Nèpal, and Paklsl8n. The Superior General of tho Worldwlde Congregallon and th8 Provinclal Superlor of the Engllsh Provlnce of the Congregation are the only rnembers of tha Company. 15.2 Gov8rnanc8 and trustee8 The Articles of As50cialion pT¢vide that there Shall be ba￿een thre8 and len trust888. The number will always include Slslers who are Iruslees by reason of Ihelr respective offlce8 wiltrin the Engllsh Province of the Congregallon. The trustees al 31 March 2023 ar8 shown on pages 1 and 2. They have all lived and worked for many years within one or other of the charlty's Works and all have personal experi8rnc8 of the sarvlces whlch the charlly offers or has offered lo the publSc. Th¢ Charity Is un11k$ most charllies In that the Iruslees devote, along with all the Slster8, their whole Ilves lo th8 servlce of the charity and the people 11 serves. In normal clrcumslances, In Ilvln9 on the same slles as the Works, by meeting regularly and by visillng the Works and the Communities, the Iruslees oversee the smooth runnlng of the char51y. Durlng the pandemic and subsequent conslrainls such as reduced access lo bulldlngs and beneflciarles, Sisters have had lo adapt their oversight acllvilies and slay connected In dtfferent WQy5. New ways of communi¢aling with the lay assoclates, the employees, the beneficiaries, the volunteer5, and all those conneGled in any way with the ¢harily have also been rruGial over the pa$1 two years. The Iruslees meet six lirnes during Ihe year. Additional meetings are held as circumstance8 dictate lo deal with tlme-sen811ive issues such as changes lo bank mandates, leases, elc. Opportunities are taken lo develop and enhance Iruslees, knowledg8 and expertise, and during the year they have allended varioLts online conference5, seminars and training sessions on safeguarding, data protection. visas and UK Border Agency, risk and reserves, public benefit, financial governance and general Iruslee responsibilities. Trustees reviewed the investment policy, governanc& arrangements, and refreshed Ihelr Essential Trustee knowledge. In particular, trustees have allended an in4epth seminar series held by the Reli9ious Life Safeguarding SeTvi¢e IRLSSI looking al safeguarding issues in the Calhollc Church. The Congregation of the Daughters ol the Cross of Liege 21

Trustoes, report Year to 31 March 2023 15 Structure and governance (continued) 15.2 Governance and trustees Iconlinued) The Provincial Superior is the voting member of the Conf&ren¢e of Religious in England and Wales to which all Sister8 belong, and the Provincial Bursar is a member of the Association of Provlnclal Bursars. Through these and other such memberships. through attending seminars and conferences, and through newslellers from their advisers and others, Irusle&s keep themselves up lo dale with changes within Religious Communllles aTKI wlth relevant changlng leglslalion and regulation. The trustees are aware that regardl&ss of Ihelr experlence In runnlng the current and former Works of the charity, the environment in which the charlty operates continues to evolve and develop, and they do nol necessarlly F)ossess the full range of business skill$ requlred to govern effectively a subslanlial modern and up lo date charity. For this reason, professional advice is extensively sought and relled upon, parllcularfy in the areas of law, finance, accounting, property and inveslmenl. The Iruslees also benefit from the advice of the English Piovinco Finance Advisory Committee, partlcularly on investments. The Iruslees have adopted the Charity Governance Code and they are conslderlng each r8commendalion as Ihgy work Ihelr way through the Code. The charity is also registered a$ a charity in Ireland and is now reporllng against Ihe Charllies Regulator's governance code, with progress reported al least annually al trustee meetlngs. Th8 charity has purchased insurance to protect it from any loss arislng from the neglect or defaults of 11$ Iru$to0$ and offlcers and lo Indemnify them agalnsl the consequ&n¢es of any neglect or default on Ihelr parl. The pollcy provides cover for up lo a maximum of £5,OOD,000. The charity has also purchased a terrorism and sabotage Snsurance poli¢y lo cover property damago and business Interruption al ils Central London sile. 18 Managgmont 16.1 The Provlnclal Superlor The day-lo-day activllles of the charitable compar¢y are the re8pon81bllity of the Provincial Sup¢rior, who delegates the management lo the local teams. She sp8aks to and vislt8 Sisters in Iheir Communities regularly lo asslst with Ihg Many issues arisin9, e.g. the apostolic work, the Sisters, welfare, properly issues and relallonslnegollalions with others in th& local commursity. She Is In contact wlth member5 of the management teams and allends meetings regularly, discussing current issues of the day and Idenllfylng those declsions whl¢h need trusl$e approval. 16.2 The Communltles At the end of the year, there are now thr&& Communities, in the UK and one in Ireland. Each Communlty has a Slgter Superior who has the responsibility for the day-to-day runrning of the Community. The Sister Superiors are recommended for appoinlmgnl by the Provincial Superior, then ralrfied by the Superior General. The Congregation ol the 03uglitets of the Cross of Liege 22

Trustees, report Year to 31 March 2023 16 Management {conlinuedl 16.3 Holy Cross Hospital Al the Hospital, the Provincial Superior appoints a m8nagement team. The Sister Superior al our Haslemere Community attends management team meetlngs. The Superior. currently Sister Kathleen O'Reilly, is also a trustee and acts as a Gonduil between the management team and the board of Iruslees. The Hospital is supported by an Advisory Cornmittee. The rnembers of the Advisory Commillees are appointed by the Provincial Superior in consullalion with the relevant Sister Superlar and the Iruslees. The Provlncial Superior and the Sister Superior are ex-officio members of the committee. The m8mbership therefore comprises trust$es, Slslèrs, and lay people wllh an &xp8rtise In the work or with a relevant specialism. The Advlsory Commillees, purpose Is lo advise the Provincial Superior, the Sister Sup8rior and the management team. Tha management structure described abov8 allows the management team lo run the Hospllal withln the ethos, framework and slralegy sgt by the Iruslees. 11 also allows important IS8ues lo be brought lo the attention of Irusloes, enabling them lo make the key declslons affecllng slralegy, pollcles, the facilities and servlces provided, and the servlce qualbly and dellvory. This structure also enables tho Iru8tee8 to Inform management of Ihelr current Ihlnklng and th8 reasonlng for declsion8. 18.4 Employ888 The charlly has always been and remains Gommitted to oppo8lng discrlmlnalion In ils many forms and slrlves lo be an incluslv9 employer. To further Ihls commitment, the management teams throughout the oharily ensure that recruilmenl and selection policles avoid direct or indir9Ct dlscrlminatSon and cornply with all rel&vant18glslallon. The alm Is to ensure that all employees ar8 aware of and under81and the charity's equal opportunitles poli¢les and are familiar wllh the legal framework. The only excepllon to this policy is that for certain designated posts within the organisation, the posl-holder has lo be a Galholic. 16.5 Key management personn81 The Iruslees are key managem8nt personnel although they are not remunerated. Other key manag8menl porsonnel are the senior officer al Holy Cross Hospital {who has delegated authority lo run the Hospltal in line with the agreed strategy and within the ethos of The Daughters of the Crossl and tho finance manager In the Provlnclalate OffSce. Thelr pay and remuneration are sel by the Provlncial Superior with regard lo the pay structure in the relevant part of the organisalion, in Gonsullalion with I￿stee$ and appropriate members of the Advisory Committee and with regard lo the external market. 17 Related partlBs 17.1 The Slsters The Slsters of the Congre9alion covenant their pension anci other income lo the charity. They are also beneficiaries of the charity in that the cost5 of their welfare and activities are el by it. The trustees. including the Provincial Superior and the Provincial Bursar, are all Sisters and no trustee is remunerated for Ihelr servlces. No trustee had any beneficial interest in any contract with the charily. The Congregation of the D3ughlers DI ihe Cross of Liege 23

Trusteos, report Year to 31 March 2023 17 Related parties Iconlinuedl 17.2 Generalate of the Congregatlon The International Generalate is the base for the Superior General and her Council who, under the structure of a separate registered England & Wales charity (Charity no. 11424901, guide, support and monllor the worldwide activities of the Congregation. The English Province works with the International Generalale lo dlslrlbule the Worldwidg Fund grants lo other Daughters of the Cross of Liege Provinces around the world. 17.3 Worldwide Congregatlon The charity and the Sisters are part of the Worldwide Congregation of the Daughters of the Cross of Liege. The worldwide Congregation inGludes Sisters belng present In len counlrles IUK, Belgium. Brazll, Camaroon, G&rmany, India, Ireland, Italy. Nepal. Paki5tanl. Grants are made to Provlnces of the Congr&galion around the world so that the Gharilable objects Gan be fulfilled outside the UK. Since the year-end, the charlly has commllled lo £2m of support towards th8 creallon of new health faclllty In the Kolkala Provlnce of the Daughters of the Cross. 17.4 St Ellzabeth's Centro Two trustees of Ihls Gharity are also Iruslees of Si Ellzabelh's Cenlr&,' Sister Veronlca Hagen and Sister Josephine Clemence. Another of our Sisters, Sister Palricla Alnsworth. Is also a Iruslee al Sl Ellzabelh's. Until March 2023 three Sisters resided in the Much Hadham Convent, whSch Is sllualed on the slle owned by Sl Ellzabelh's Centre. SSnce the year-end the charlly ha8 conllnued lo support the Centre during a chall&nglng nanclal period, wlth a grant of £2m to help with operational costs as well as inveslln9 In the Cenlr8's infraslruclur8 10 8UPPOrt areas of future income. 17.6 St Raphael'8 Hosplce Two Iruslees of Ihls charlly,. Slsler Voronica Hagen and Sister Kathleen O'Rellly are Iruslees of Sl Raphael's Hospice. In 2020, the charity and the Hosplce entered into Ihrge 20-year lease agreements for the Hospice bullding, the 759 London Road office, and Sl Bede's conference cenlre. All three leases have a nomlnal rent of £100 per annum. 18 Statement of trustOos' rèsponslbllltles The Iruslee5 (who are also tho director8 of the rharilable company for the purposes of company lawl are responsible for preparing Ihg Iruslees, report and financial 5ts1emenls in ac¢ordan¢e with applicable law and United Klngdom Accountlng Standards (United Kingdorn Generally Accepted Accounllng Pra¢li¢e). Company law requlres the trustees to pr¢pare financial 81alemenl8 for each financial year which give a true and fair view of the slate of affairs of the charllable company and of the income and expenditure of the charitable company for that period. In preparing these financial staletnen15. the Iruslees are required to.. select suitable accounting policies and then apply them consislenlly. Tlie Congregatson of the Daughlet5 01 the Cross of LEge 24

Trustèes, report Year lo 31 March 2023 18 Statement of trusteos, responsibilities Iconlinuedl + observe the methods and principle5 in Accounting and Reporting by Charities- Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102). + make judgements and eslimales that a￿ ￿?Sonable and prudent. + slate whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in tho financial stalemenls., and + prepare the flnanclal statements on the golng concern basls unles311 is Inapproprlale lo presume that the charitsble company will conlinue in operation. The Iru8te8s are responslble for keeping adequate accounting rgcord8 that disc108e wllh reasonable accuracy al any lime the financial posSllon of the charitable company and 8nable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are also responslble for safeguarding the assets of the charllable company and for laklng reasonable steps for the prevenllon and delectlon of fraud and other irregularllles. Each of the trustees confirms that: • 80 far a8 She 18 aware, there Is no relevant audit InfoTmalion of whlch th8 charitable company's audllor is unaware., and • she ha$ lak¢n all the sl$ps Ihal she ought lo have taken as a Iruslee Sn order lo make herself aware of any relevant audit information and lo establish that th8 charitable company's auéllor is aware of that information. Thls ¢onfirmallon is given and should be Inlerpreled in a¢¢¢réance wllh the provislons of s418 of the Companies Act 2006. Thls Trustees, Report. Includlng the Strategic Report contained Ihereln, has been approved by Ihe Irusl¥e8 at a meeting on 8 November 2023 and il 1$ signed on their behalf by.. Sister Veronica Hagen Trustee and Provincial Superlor Th￿ Congregalion of the Daughters of the Cross of Liege 25

Registration details and prinGipal advisers 31 Mareh 2023 Regi5tratlon detai15 and prlnclpal adv15ers Reglstratlon d8talls The Congregation of th8 Daughl8rs of the Cross of Liege is a charitable company limited by gLJarantee iHcorpor8led in England and Wales and that is ils registered name. Registration details are.. + Charity Regislraliors Number.. 1068661 • Company RegSslrallon Number: 3492921 Registered Office and Prin¢ipal O)Ti¢o address.. Joseph's Convent, 801 London Road, North Cheam. Surrey. SM3 9AT Prlnclpal advlsers Audltor Buzzacoll LLP 130 Wood Street London EC2V 6DL Investment manag•rg BlackRock Investment Management IUKI Llmiled 12 Throgmorlon Avenue London EC2N 2DL SarasSn & Partner5 LLP Juxon House, 100 St Paul's Churchyard London EC4M 8BU Evelyn Partners 45 Gresham Street London EC2V 7BG Bankèrs The Royal Bank of Scotland plc 250 Blshop8gale London EC2M 4AA Sollcltorg Farrer & Co LLP 86 Llncoln's Inn FSelds London WC2A 3LH Mullany Walsh Maxwell 19 Herbert Place Dublin 2 D02 NY72 Ireland The Congregation of the Daughters of the Cross of Lieg8 26

Independent auditor's report Yearto 31 March 2023 Independent auditor's report to the members of The Congregation of the Daughters of the cro￿ of Liege Oplnlon We have audited the financial slalements of Congregallon of the Daughters of the Cross of Liege (the 'Gharilable company'l for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accounllng pollcies and the notes lo lfve financial slalernenls. The flnancial reporting framework that has been applied in their preparation is applicable law and United Klngdom Accountlng Slandarés, Includlng Flnancial Reporllng Standard 102'The Flnanclal Reporting Standard applicable in the UK and RepubliGof Ireland, {Unlted Kingdom Generally Acc8pled Accounting Practice). In our opinlon, the financlal slatem8nl8: glve a true and falr vlew of the slate of the charilabla company's affalr8 as at 31 March 2023 and of ils income and expenditure for the year then ended,. have been properly prepared In accord8nce with Unlled Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requlremen15 of the Charllles Act 2011. Ba818 for oplnlon We conducted our audll In accordance wllh Internallonal Standards on Auditing IUKI IISAS IUKII and appllGable law. Our responsibilllies under those standards are further described In the auditor's responslbllllles for the audll of the financlal slal8menls sectlon of our report. We are independent ofthe charllable company in accordance with the ethical requirements that aro r¢l•vanl lo our audit of tho linanGial stalemonts in th& UK, in¢luding the Flnanclal Reporting Council's Ethical Standard, and we have fulfilled our other ethical r8sponsibllilles In accordance with the8e requirements. We believe that the audit evldence we have obtained is sufficient and appropriate lo provlde a basis for our opinion. Concluslons relatlng to golng concgrn In auditing the financial slalemen18, we have conclL¢ded that the Trustee8' use of the going oncern basis of accounting in the preparation of the financial ststemenls is appropriate. Based on the work we have performed. we havo not idenllfled any matorlal uncertalnties relating to events or conditions that, Indlvidually or collecllvely, may cast signiflcanl doubt on the Gharilable company's ability lo continue a5 a going Goncern for a period of al least twelve month8 from when Ihe flnancial statements are 8ulhorised for Issue. Our responslbililies and the responslbllities of the trustees wlth respect lo going ¢on¢ern are described in the relevant sections of this report. Other information The other information comprises the information included in Ihe annual report, other than the financial statements and our auditor's report Ihereon. The Trustees are responsible for the other inforrnation contained within the annual Teporl. Our opinion on the financial Statements does not cover the other information and, except to the exlenl otherwise explicitly slated in our report. we do not express any form of assurance conclusion thereon. The Congregation OT ltte Daughters of the Cross of Liege 27

Indepgndent auditor's raport Year to 31 March 2023 other information Iconlinued) Our responsibilily is to read the other Information and, In dolng $0. ¢onsider whether the other information is materially inconsistent wilh the financial slalements or our knowledge obtained in the course of the audit or othe￿iSe appears to be materially misstsled. If we Identify such material irbcon51Stencles or apparent malerlal rnisslalements, we are r8quSr&d lo determine whether this gives rise lo a material misslatemenl in the financial slalemsnts themselves. If. based on the work we have performed, we conclude thal there 18 a malerlal misstatement of this other information. we ere required lo reF)Ort that fact. Vve have nothing to report in Ihls regard. Opinions on othgr matters pregcribèd by thg Companies Act 2006 In our opinion, based on (he work undertaken in the course of the audit.. • the informallon glven In the Iruslee5' report, whlch is also the directors, report for the purposes of company law and includes the strategic raport. for the financial year for whi¢h the financlal slalemanls are prepared is consislonl with the financial slalemgnts., and the Iru81ee8' report, which18 also the dlreclors. report for the purposes of company law and Includes the 8lrateglc report, has been preparod in accordance wllh applicable legal r8quiremenls. Matters on whlch we are requlred to report by oxceptlon We have nolhlng lo report in respect of the followlng mall$rs wh&re the Charities (Accounts and Reports) Regulallons 2008 requlres us lo report to you rf, in our oplnion.. • the information given in the Tru81ees' report is inconsislenl In any mater181 respect wlth the finan¢ial slatemenls., or sufflGlent accounting reGords have not been kept., or the financial slalemen15 are not in agreement with the accounting records and returns., or • we have not recelved all the Informatlon and explanatlon$ we require for our audit. Respon¥ibilitie¥ of trustees As explained more fully in the Trustee5' responsibilities statement. the Trustees (who are also the directors of the charitable company for the purpose$ of comparly law) are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such internal control as the Trustees deterffline is necessary to enable the preparation of financial ststernents that are free from material misslalemenl, whether due to fraud or error. In preparing the financial slalemenls, the Trustees are responslble for assesslng the charitable company's ability lo continue as a going concern. disclosing, as applicable. mallers related to going concern arbd using the going concern basis of accounting unless the trustees either intend lo liquidate the charitable company or lo cease operations. or have no realistic allernalive bul to do so. The Congregation of the Daughiers of the Cross of Liege 28

Independent auditofs report Year to 31 March 2023 Auditor's responslbilltles for the audit of the financial statements Our objectives are lo obtain reasonable as$uran¢e aboul whether the firbancial slalemenl$ as a whole are free from material misstalemenl, whether due lo fraud or error, and lo issue an audllor's report that Includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UKI will always d8t&ct a material misslalemenl when il exists. Misstalemenls can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected lo iniluence the economic decisions of users taken on the basis of these flnanclalslalemenls. Irregularitles, Including fraud, are Instances of non-compllance wllh laws and regulatlons. We design procedures in line with our responsibilities. outlined above, lo delecl material misslalem6nls In respect of Irregularllles, including fraud. The extent lo whSch our procedures ar8 capable of delecllng Irregularlties, Including fraud is detailed below-. making enquiries of management and represenlallve3 of those charged wllh governance as lo their knowledge of actual, suspected and alleged fraud.. and consldering the internal ¢onlrols In place lo mlllgale rlsks of fraud and non-compllance with laws and regulations. To address the rlsk of fraud through man8gemenl bias and override of controls, w8.. performed analyllcal procedures to idenllfy any or unusual or unexpected relallonships.. performed sub8lanllve lesllng of expenditure Includlng authorlzation thereof,. and tested Journal entries lo Identify unusual tran8aclion8. There are Inherent Ilmilallons In our audit procedures described above. The more removed that law5 and rggulalions arg from financial Iran$a¢llon$, th& loss Ilkely It Is that we would become aware of non-compliance. Auditing standards a150 limit the audit procedures requlred lo identify norn-compliance wllh laws and regulations lo enqulry of the Iruslees and other management and th8 inspection of regulatory and legal correspondence, rf any. Materlal misstalemenls that arise due lo fraud can be hardsr lo dglecl than Ih05e that arise from error as they may involve deliberale con¢ealmenl or collusion. A further description of our responsibilities is available on the Financial Reporting Council's website al www.frc.org.uklaudilorsresponsibililies. This description forms part of our auditor's report. The Congregation of the Daughters of the Cross of Liege 29

Independent audltor's report Year lo 31 March 2023 Use of our report This report is made solely to the charitable company's members, as a body. In accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audil work has been undertaken so that we mlghl stale to the charitable company's mernbers those matters we are required to slate lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the haritable company and the charitable Gompany's member5 as a body. for our audlt work, for this report. or for the opinions we have formed. 22 December 2023 Edward Finch (Senlor Slalulory Audllor) For and on behalf of Buzzacoll LLP, Slalulory Audllor 130 Wood Street London EC2V 60L Tlie Congr8g8tson of the Daughters of Ihe Cross of Liege 30

Statement of financial activities lincorporatlng Income and expendlture account) Year lo 31 March 2023 Unrestrlcted lunds General Desl9nat4d funds funds £'ooo eooD Restrlcted lunds £'ooo Tolal fuhdi 2023 £'ODO Total funds 2D22 rDOO Not65 Income from.. Chafiiable acliYlie¥ InveGlrnenls Donallons 8nd legad88 Olher In(x)mE Total Income 7,23 2,702 672 110 7.238 2,702 698 6.575 2,796 739 112 28 10,722 30 10,752 10.222 Exp•ndltur4 on: Ralsing funds 814 814 Charitable HBlivilies Support ofmembers of itr* Congr￿&110￿ And IheSr mlnlslry Runnlng Hdy Cr055 HospS191 Grants and don811ons 3,674 7,989 1,gSI 13,J94 3,874 8,000 1,951 13,625 3,518 7,4e8 193 31 31 yo1￿ •xpondllur• 14,4118 31 14.439 12.086 N•t•xp•ndlknr• b•lor• fi•i Ilobts•al èalnB on Inv•itin•ntb Net110¥8e$l galn6 on inv89lm8nls Nrt lexp(tndltvTel In¢om• Transfer8 b8iween funds N•t mov•m•nt In fundi 13,e88) 13,8871 16.192 19.8791 11,8641 5.295 3,431 12 19,7971 10,956 1,1Sg 1821 10,956 110,8561 1021 19,8791 3,431 R•¢on¢lllatlon of fund•', Toial fund8 broughlforward at 1 April 2022 Totil funds ca￿[0d lorwlrd at31 M•r¢h 2023 9,540 10,699 143,010 132,054 1,573 1,491 1$4.123 144.244 150.e92 154,123 The slatemer)l of flnanclal acllvllles Includes all gaSns and1058es recognlsed In the y9ar. The noles orn pages 36 to 52 forrn part of Ihe8e financlal 81atemenl8. The Congregation of the Daughters of Ihe Cross of Liege 31

Statement of financial actlvitlas Ilncorporating income and fyxpenditure account) Year lo 31 March 2022 Unreslilcle<¢ lunds Ggneral Deslgn&tsd R•tslKi¢ted Nund lund$ IUFJLIS Tolal lurtds 2022 Noles Incom8 anrl 8xpenditure accounl Inwme IKom.' Charilable activ￿{&& Inveslmenls Donal1￿ andlegacles Olh8r In¢omg TolallnGorne 6.OT5 2, T96 663 IOT 10,741 6,575 76 739 112 10,222 81 Expendilureon.. Ri$inglwJds 917 911 Ch8r118ble gollvrtles Support ofmembersoflhe Congregellon andlhelrmlnlslry Running Holy Cross Hospllal Gr8nl8 8nddon8tlonB 3,516 7,408 193 3,016 7,466 193 58 oxpottdltwg 12.028 58 12,088 liènafar8 11,8871 23 {1,864) Ndgoln8 on Inv081m&ni$ Nèl Incofrr 5,221 3,334 74 9T 5,295 3,431 Tiansfeis b8lwaen 12381 296 187) N81 m¢v8mènt In lurtd$ 3,096 295 40 3,431 R8conclli8llon ollunds,. Tot81funds broughl fofrw8rd 81 l Aprll 2Q21 rol8lfunds cwrigdlornvwdat 31 March 2022 8,444 9,S40 142.716 14J,O?Q 1.893 1.673 150,692 t54,123 The Congr8gation of th& Dauglit8rs o Ihe Cross of Liege 32

Balance sheet 31 March 2023 2023 £'ooo 2023 £'ooo 2022 £'ooo 2022 £'ooo Notes Flxed as$•t$ Tangibl8 asse18 Inveslmenis Inveslmanl property 10 12 33,537 105,780 $10 139,827 32.713 112,223 478 145,414 Current a$$¢ts Debtors Cash at bonk and In hgnd 13 525 S,484 6,009 505 9,764 10,269 Cr•dlt¢rs'. amounts falling du8 within one year Net current aosets 1,416 1.3921 4,593 8.877 Total assets less current 144,420 1 S4.291 Provlslons for liabSlltles 15 1681 154.123 Total n•t 8SS•t8 144,244 The funds of the charlty.. Rastrtclèd lunds 16 1,491 1,673 Unrestrlcled funds Flxed assets fund . Oth8r 16 16 33,524 98,530 132,054 32,659 110,351 143,010 General fund Total unreslrfcl8d funds Total Charlty funds 10,699 9,540 16 142,753 144,244 1 S2,550 154,123 Approved by the Iruslee8 of The Congregallon of the Daughters of the Cross of Llege, Company Registration Number 03492921 IEngland and Wales), and signed on Iheir behalf by.. The notes on pages 36 10 52 form part of these financlal 8latemenl8, Slsler Veroni¢a Hagen Slsler Mary Dale of approval.. 8- ZOZS ¢Gin Tlie Congregation of Ilie Daughters of the Cross of Lieg£ 33

Statomgnt of cash flows 31 March 2023 2023 £'ooo 2022 £'ooo Notes Cash flows from operatSng act5vltles Net c8sh used in operating aotivities 15,644} 13,0251 Cash flows from Investlng activltles Dividends, Interests and rents from investmenis Proceeds frorn th8 sa18 of tangibl8 fixed assets Purchase ol tangible fixed assets Proceeds frorn sale of inveslm8nls Purchase ol investments Décrèasè In cash hold by invastm8nl m8nagèr Other movements Nel cash provlded by Invosllng actlvlt10S 2,702 13 11,57BI 63,360 160,6271 11,8731 16411 1,356 2,852 19331 27,258 127,9491 720 1,836 Cash flows from flnanclng actlvltle8 Incrèasè Idècrè8sal in othèr long t8rm li8bllitlès Nèt eash provld8d by Iu8•d Inl flnanclng aetlvltl•• 121 121 Chang? In ca•h and caih equlval•nt• 14,2801 11.1941 CaBh and cash equlval?nt¥ 4t 1 Aprll 2022 9,784 10,958 Cash and ca8h equlval•nls at 31 March 2023 5,484 9,764 The notes on pages 36 10 52 form part of these financial slalemenls. A. R•concllSatlon of net axpendlture to net cash flow usèd In op8ratSng aGtlvltlo8 2023 £'ooo 2022 £'ooo Nel lexpendllurel income la8 per 8talemenl of financial activi1Sesl Adlustm•nt8 for: Depreciation charge Losses IgaSnsl on Investments Los8 on the sale of fixed 8sS81s Ilnereasel decrease In dabtors Increase in creditors Gains on inv&stm8nt property Inveslrrenl in¢omtr Donated fixed assets 19,8791 3,431 969 6,224 35 1191 24 1321 12,7021 12641 15,6441 9S6 15,2871 252 132 351 181 12,8521 13,0251 B. Analysls of cash and cash equlvalents 2023 £'ooo 2022 £'ooo Total cash and cash equivalents- cash 5.484 9,764 The Congregation of th8 Daughte￿ of the Cross of Lieofr 34

Statement of cash flow¥ 31 March 2023 C. Analysls of changes In nèt débt At 1 Aprll 2022 Cash flows £'ooo £'ooo At 31 March 2023 £'ooo Cpsh 01 bank and sn hand 9.764 14,2801 5,A84 The Congregalioi) of the Daughler5 of Ilie Cross of Liege 35

Notes to the financial statements 31 March 2023 1 In￿m9 from charitable actlvltle8 Unrestrlctod funds 2023 £'ooo Total funds 2023 £'ooo Feos and ch8rge8- Privalely-funded Fees and charges- Publlcly-fundgd 249 6,989 7,238 249 6,989 7,238 Unrestrlc18d fund8 2022 £'ooo Total funds 2022 £'ooo Fees and charges- Privatoly-fundod . Fee$ and ¢harge$- Publicly-fund8d 335 6,239 6,574 335 6,239 6,574 2 Inv•stmènt In¢omg Unrestrlcted fund8 2023 £'ooo Total fund8 2023 £'ooo UK investm8nts Overseas investm8rils Interest recelvabla 2,023 591 88 2,702 2.023 591 88 2,702 Unreslrlcled lunds 2022 £'ooo Total funds 2022 £'ooo UK investments Overs88s inv8slrnents Inlorest receivable 2,341 437 18 2,796 2,341 437 18 2,796 Th8 Coryregation of the Daugmers of the Cross of Liege 36

Notes to the flnanclal statements 31 March 2023 3 Income from donatlons and legacies Unrestri¢t¢d Rostri¢t$d funds funds 2023 2023 £'ooo £'ooo Total furbds 2023 £'ooo Donatlons Donations Covenanted InGome from Si8ter8 of the Congregatlon P8n8ion8 and other income Legacies 26 20 46 829 17 672 629 23 698 26 Unrestrfcted funds 2022 £'ooo Reslrlcted funds 2Q22 £'ooo Total funGIs 2022 £'ooo D¢n8tion$ Dsnèlions Covenanled InGom& from Slsters of Ihe Congregallc*n pensions and oth&rincome Legacles 53 610 810 76 739 76 76 663 4 Othor In¢omlng ro$our¢es Unre8trlcted fund8 2023 £'DOO R•8trlet•d fund8 2023 £'ooo Total funds 2023 £'ooo Propgrty Sale ol fixed asBels Olhèr incomè 88 13 11 110 88 114 Unreslrlcl8d funds 2022 £'ooo Restricted funds 2022 £'ooo Total funds 2022 £'ooo Property Olherincomg 56 51 107 56 112 5 Expgnditurg on ralslng funds Unrèstrictèd funds 2023 £'ooo Totsl funds 2023 £'ooo Investment rnanagement costs Support costs 542 272 814 542 272 814 Tli& Congregation of the Daughters of the Cross of Liege 37

Notes to the financial statements 31 March 2023 5 Expendlture on ralslng funds Icontlnuedl Unreslrict8d funds 2022 £000 rolal funcls 2022 £'ooo Inveslment managem&nl costs Support CO81$ 538 373 911 538 373 911 6 Analysls of expendlture on charltable actlvltlè8 Summary by ￿p￿ndItUr0 typg Non.staff costs 2023 £'ooo Support costs Stsff costs 2023 £'ooo Total 2023 £'ooo 2023 £'ooo Support of Members Holy Cro88 Hospltal Grants and Donalion8 977 5,846 1,366 2,034 1,951 5,351 1,331 120 3.674 8,000 1,951 13,625 8,823 1,451 Non-sleff costs 2022 £'ooo Support costs 2022 £'ooo Staff costs 2022 £'ooo Tolol 2022 £'ooo Support olMemb8r8 Holy Cross Hospll&l Gr8nl$ end Donglions 879 5, 144 1,844 2,IT3 193 4,210 793 149 3,516 7,466 193 11,175 6,023 942 Nel (expendilurel income for the year is slated after charging Icredlllngl.. 2023 £'ooo 2022 £'ooo Depr8cl8llon IProfill loss on dlsposal of langlble flKed assets Galn on Investment property Audllors, total remuneratlon Giant8 and donations 989 1131 1321 956 252 181 109 193 1.951 Of the grants and donations paid, £1.75m was lo St ESizab8th's Centre12022 £Nill and £165,000 was lo the worldwide congregation12022 - £146,000). The Congregation of the Daughters of the Cross of Liege 38

Notes to the flnancSal statements 31 March 2023 7 Support costs Gov•rnance 2023 £'ooo Other 2023 £'ooo 2023 £'ooo Staff ¢osls Professional fees Property costs Other costs Total support costs 34 112 221 697 219 362 1,499 255 809 219 440 1,723 78 224 Govwn8n¢8 2022 £'ooo Other 2022 £'ooo 2C122 £'ooo Staff Gosl8 Professlonal fees Prop6rty costs Qlhor co81 Tot81 support costs 31 143 774 517 758 287 1,736 205 660 758 292 1,315 179 2023 £'ooo 2022 £'ooo Allrfbul8d lo the followlng acllvltie8: Ralsing funds Inole 51 Charitabl8 ac11vllle8 Inole 61 272 1.451 1,723 373 942 1,31S All cost8 relallng lo a partlcular activlty are Ir9al¢d as costs of that acllvlty. Support costs, whlch Include governance costs, are the central costs Incurred predomln3n15y wllhin the Province whlch support the charity's aclivllies and deal wllh Ils governance arrangement8. Where costs specifically relate lo an activity, they are allocated lo that activity. General support Gos15 are allocated to the aclivill88 on the basis of the cost and lime spent on each oflh8m. The trustees are Slslers of the Congregation and they are not remunerated for thelr work as trustees. The governance of the charity Is dealt with by the Iruslees acting, where appropriate, after considering the advice of Ih¢ir professlonal advlser8 and with the assistance of the Senlor Management Teams. TTusle¢s are, as are all Slsters, beneficiarles of ar￿ donors to, the charlty and the charity meets the costs of their ministry and welfare. In the case of Iruslees, their costs include expense8 incyrred when they are fulfilling their Iruslee duties for which an allocation of costs is made. Professional fees include payments lo the charity's auditors for audit fees of £49,aOO12022 £46,000), which are included in Governance. Fees paid lo the charity's auditor for other services, which all relate lo taxation, governance, and gerteral financial advlce and are Included In support costs, amount to £49,000 {2022 - £63,000). The lolal amount paid lo the auditors was £98,000 {2022- £109,000). The Congregation ol Ille Daughters of the Cross of Liege 39

Notes to the fSnancSal statements 31 March 2023 8 Staff costs 2023 £'oao 2022 £'ooo Wages and salaries Social security cosis Contribution lo d£fin8d ¢onlrfbulion p8n81on 8chemes 5.848 681 177 6,704 5,226 561 164 5.951 Agency costs Termln8llon payments Olhor costs 213 158 262 7,337 273 6,228 The average numb&r of p8r8on8 employed by the Gharity durirsg the year was as follows.. 2023 No. 2022 No. Full 11rn8 8qulv8lenl numbers of staff 169 1e9 The number of employees whose employee beneflls lexcluélng employer penslon Goslsl exceeded £60,000 wa8.. 2023 2022 No. In the band £60,001 £70,000 In the band £70,001- £80,000 In the band £80,001 £90,000 In the band £90,001 £100,000 Details of the pension conlrlbu11ons for those earnlng £60,000 per annum or more are shown below.. 2023 Number 15 2022 Numb81 £'ooo 37 £'ooo 23 Dafinad contribution sch8m8S The trustee5 arg key management personnel of the charlty,. they are not remunerat6d as Iruslees bul they are beneficiaries of the charity In that their welfare and work is funded by it. The ¢o¥t of the support of all Sisters is disclosed elsewhere. The Senior Qfficer al Holy Cross Hospital has delegated authorlly lo run th& Work in line with the agrged strategy and within the ethos and charism of The Daughters of the Cross. They are therefore also regarded as key management personnel, along wlh the Provincialale Finance Manager. The total employee benefits of this group, including pension contributions amounted lo £122,051 12022 - £185,659), which together with National Insurance Contributior)s of £15.14712022- £21,373) brings the total cost of employment of key management personnel lo £137,19812022 - £207,032). The Congregation ol the DaughleTS ol the C105s of Liege 40

Notes to the flnancSal statements 31 March 2023 9 Trust##s' rémuneratlon and èxpens6s During the year. no Trustees received any remuneration or other beneflts {2022- £nll}. During the year ended 31 March 2023, no Trustee expenses have been incuTred (2022 £nill. 10 Tangible fixed assets Freehold & leasehold land and buildings £'ooo Medlcal Compul8r and office oqulpmenl £'ooo Assals Sn course of construcllon E'ODO Motor vehicle5 £'ooo Total £'ooo Casl or v8lu8tlon At 1 April 2022 Addllons Dlspo8als Transfers be￿88Th classas Al 31 March 2023 36,767 470 1601 193 1,255 4,516 116 1851 192 41,668 1.841 11811 1361 52 37,229 521 1,396 4,547 156 43,328 08pr&clatlon Al 1 April 2022 Charge for tho ygar On dl8pos81s Al 31 March 2023 5,696 756 1121 6.440 3,130 190 85 3,235 129 23 36 116 8,9SS 989 133 9,791 Net book value Al 31 Maroh 2023 AI 31 MBrch 2022 30.789 31.071 1,396 193 1,312 1,386 40 63 33.537 32,713 Included within freehold land and buildlngs are amounts for land a deemed cost of £10.Om 12022- £10.Oml whlch has not been depreclaled. Under the transitional arrangements sel out in FRS 102, Ihe charlty elected lo treat property valuallons prlor to 1 Apri5 2014 as their deemed co81 al that date. Valuations were performod by a qualified exlernal valuer, in accordance with the requirements of the RICS Valuallon standards and FRS 102. Subsequent addition5 are slated al cost. 11 Invèstmènt proporty Freehold Investment property £'ooo Valuatlon At 1 April 2022 Surplus on revaluation At 31 March 2023 478 32 510 Th8 Congregation of the Daughters of the Cross of Liege 41

Notes to the financial statements 31 March 2023 11 Investment property (conlinuedl The values of investment properties are wholly based on valuatfons by Indepanéent valuers. An updalo valuation report was carried out by chartereé surveyors. Weldon Beesly LLP, to d8lermine the market value of the freehold agrlcullural grazing land in Much Hadham. HertF¢rdshire, following a full valuation report in 2021. The land leased lo the operator of the transmission mast was valued in 2023. The basis of valuation wa5 market value and is based on a formal valuation ¢arried out by Reeves and Partners Charl8red Surv&yors In 2014, adjusted for subsequent ¢hanggs in the rental market. 12 Flx8d assét Invèstmènts 2023 £'ooo 2022 £'ODO Mark81 value al 1 Aprfl Addltlons at cosl S8le proceeds Inv8slmanl Ilossesl galns Investment cash Market valuo at 31 March 112,223 63,630 160,6271 113,1131 3,667 105,780 104,345 27.949 127,2581 5,406 1,781 112,223 Hlstorlcal cost of Inve51menls al 31 March 2023 £93,852k12022 - £91,434k}. Los8e8 and gains on Inve8lmenl8 recognlsed in the slalemenl of financlal aclivlll88 are made up as follows.. 2023 £'ooo 2022 £'ooo Golns on Investments Investment gains allocated io olh8Ts Olhar movaments ILossesl 98lns on Investments per SOFA 15,8331 81 1840 16,1921 5.340 74 119 5.295 8) Investment5 2023 E'OOO 2022 £'ooo L181&d Investments Pooled funds Other Unllsled shares Pooled funds Other Cash held for r8inveslmenl 36,547 64.991 43.643 65,485 17 558 3,667 1 D5,780 609 705 1,781 112.223 The historical cost of investments at 31 March 2023 was £93.8m12022- £91.4ml. Shares, bonds, investment funds (including unil Iruslsl. and other asset types relating lo companies listed on a UK stock exchange or incorporated In the UK are Irealed as investmen18 in the UK. Investments in overseas-based companies and other non-UK-based assets and investment funds are treated as being overseas. The Congreg8150n of Ihe Daughters Ol the Cross of Liege 42

Note5 to the financlal statem8nts 31 March 2023 12 Fixed asset investments Iconlinu8d) a) Investments (continrjed) Whilst there are significant investments in common investment funds and other collective Investment vehicles, there are no investments In individual companies or 8rililies which the Iruslees would regard as m8lerial. 13 Debtors 2023 £'ooo 2022 £'ooo Duè wllhln one year Trade debtors Other debtor5 Pr6paym6nts and accruad Income 338 17 170 525 364 26 115 505 14 Cr•dltors,' Amounts falllng due wlthln ono year 2023 £'ooo 2022 £'ooo Tradg eradlltsrs Other taxation and socSal securlty Oth8r ¢redltors AGcrualy end deferred Income 186 137 554 559 1,416 207 125 57$ 485 1,392 1 S Provlglons £'ooo AI 1 April 2022 Movèment in year 168 176 The provislon for compensation Is an amount set aside, origlnally to meet the charity's potential contribution lo the Rosidenlial Inslilulions Redress Board {RIRBI eslabli8heé in Irtrland lo mak¢ comptrnsalion awards lo people who, as ¢hildren, wore abused while resident in schools and other instilulions subject lo slate regulation or inspection, as well as High Court claims that did not meet the criteria for claiming Ihrough R1RB. The Redress scheme 15 now closed for applicaliorbs, so the provision is held lo meo1 any claims made through the Hi9h Court. A review carried out in 2021 in conjunction with our legal advisors in Ireland sel the provlsion al QOO,000. The change during the year Is due to ex¢hang& rale movements. The CDTrgregalioTr of IhE Daugl)ters ¢>f the Cross ol Liege 43

Note¥ to the financial statements 31 March 2023 16 Statement of funds Balance at 1 April 2022 £'ooo Balance at 31 March 2023 £'ooo Tr8nsf8r8 inlout £'ooo Galns Ilos$esl £'ooo Inwrne Expendltwe £'ooo Cvrrent yaar £'ooJ Unre5tric¢ed funds Deslgnatgd fund Fixed asset fvnd Daught8rs of th& Cro88 fund Ch4rll8ble aG11￿￿eS fund PrO￿ncl•late fund St Raphad'5 Ho$pl¢e fund wodd￿d? fund 32.659 45,0(M) 23,2tKI 31,0 2,7rx) 8,451 143,010 865 12,0001 112,4021 3,000 33,524 43,000 10,798 34.000 2,700 8,032 132,064 14191 10,9561 Gengral fl￿d% General funds- all fwd5 9,540 10,722 114,4081 10,956 10,699 Total unMstrlct•d tund8 152,550 10,722 114,4081 142,753 Rg¥lrl¢t•d fund* Hydrotherapy cantre Amenilles fuThY 1,$23 1.442 30 30 1,573 181 1,491 Total fvnd¥ 154,123 10,752 114,4391 16,1921 144,244 The deslgnaled funds have b99n $91 aside for spgcific purposes by the trustees out of unreslricled funds, although Ih8y may ultlmalely use such funds for other purposes. 11 Is a policy that income and expenditure &ilher relates lo reslri¢led or unreslrlclgd gener81 funds, thus there Is no Income or expenditure orn d@8ignated funds. Deslgnaled funds are determined by tru8lee8 al the end of the year and the Sncreases or de¢reases are refleGled a$ transfers from unraslrlcted ganeral funds. Fixed as5el fund The tangible fixed assets, of whlch property forms the major part, are of fundament81 importancè lo the charlly and wilhoul them the charlly would be unable lo fulfil any of ils charitable objectives. The value of the assets is therefore not readily realisable and, lo reflect that, their nel book value has been established as a deslgnated fund. Daughters of the Cross fund This fund is established lo ensure the care and sUPPOrt ngeds of the Slsters Is sufficiently met over the course of their lives. The Sisters have carried out the chari18ble activities of the ¢harity over many éecades, so11 is essenllal, as part of the ¢harily's rnis5i0n, that these Sisters are cared for both during and after they carry out their ministries. The fund Is Invested for the long-lerm with the current intention that only the income is spent. This income meet$ the shortfall of the Sisters, covenanted income over the costs of their welfare, their apostolic activities and the costs of the care of the frail and elderly members. The fund value was slightly decreased this year, from £45m lo £43m. The calculation Is based upon expected investment income yields in the Gurrenl post-covid, high-inflalionary economic conditions. The £43m fund allows for sufficient income to be generated to meet the shortfall between Sisters. income and expenditure. In due course, as the number of UK Sister5 declines, inveslrnent returns may be able to be used lo support the former Works and to support the work and welfaro of Sisters in the other Provinces around the world. The Congregation of Ihe Daughters ol the Cross of Liege 44

Notes to tho financial statements 31 March 2023 16 Statement of funds (continued) Charitable activities fund This fund has been established lo help secure the future needs of the charity's ¢urrenl and former Works, and the long-larm accommodation and other needs of the Sisters Iseparale from the day-lo-day living costs planned for in the Daughters of the Cross designated fund described above} and is represented by fixed asset inveslmenls. The funds are expected lo be utllised in the medlum lo long-lerm lo secure the Works. futures, however some commitments have a much shorter lime horizon and so the proportion of the fund held in cash depo8119 Is avallable for commilmenls in the coming 12-24 months. Pr¢vincSalale fund The Provinclalale office of the charity incurs runnlng costs each year, whlch are met from Investment income. For the foreseeable future the office will be required lo support the Sisters and lo be the cernlral adminlslration funcllon of the whole charlly. In order tc> meet these ongoing runnlng costs, this fund has been established lo provide the necessary Income. The fund remains al the same level as the previous year. To cover the full cost of the central offlce funcllons with the Income generated by the inveslrnents, a much blgger fund would need to be created. Si Raphael's Hosplce fun The St Raphael's Hospice fund was sel up wSlh a lolal of £6.3rn whlGh1nclude¢J the £3.6m that was paid lo the Hosplce upon separallon In 2020. The remalnlng £2.7m balance as al 31 March 2023 may b8 ullllsed by the Hospice in the medium term to d8velop the buildings and infraslruclure, and Is held as a conling¢n¢y against m&dlum-term performance against thlrteen strands of the S-year buslness plan. Worldwlde funé Thls fund is lo provide grants to enhanG? or develop the work of th& Worfdwlde Congregallon, as agreed wsih the Superlor General and her Councll. The fund 15 made up of investment assets ané distributes 85Vo of ils nel income as grants to overseas Province8 of the Worldwide Congregation. Thg fund is tts be held in th$ long-l¢rm lo provlde ongoing support to developing the SSslers' work around the world. R•strfct•d lunds Hydrotherapy cgntrg This represents part of a legacywhich haé lo be used al Holy Cross Hospital and is therefore reslricled. The legacy was partly used lo build a hydrotherapy faelllty and these were released lo unrestricted funds. The remainder {b8ing the reslricl8d fund) was invesleé lo generate income lo help meet the running costs of the fa¢ility. Amenities fund This fund represents monies donated lo support patients and staff activities. and patient amenities. The fund supports the running of the ambulances used to transport patients, and the cost of social activities and outings for patients. This includes the costs associaled with the off-site collage in Selsey that's used by patients as part of their care. Yhe Congregat￿n ol the Daughters ol the Cross of Lie9e 45

Not9$ to the financial statements 31 March 2023 17 Analysis of net assets between funds General Dèsignatèd Funds funds 2023 2023 £'ooo £'ooo Restrlcted funds Total funds 2023 2023 £'ooo £'ooo Tangible flxed asse16 Fixed 88$81 inv8sltn&nts Net current assets Pmvlslons for liAbilllles and charges 13 6,318 4,544 11761 10,699 33.524 98,530 33.537 106.290 4,593 {1761 144.244 1,442 49 132,054 1,491 18 ContSnytnt asset Several years ago the charlly pald a proportlon of the eslimaled buy-out total requirement Into the St Elizabeth's Centre Final Salary Pen8ion Scheme. In order lo facililale a buy-out of the Scheme by an Insurance providar. Subsequently, the charity was informed by the Scheme Trustee that the amount paid was greater than the lolal sum requlred by the Insurer for the Scheme lo be bought out. The charity's p08111on 18 the surplu$ amount should be returned lo the Charlly. Tho charity reGeived a payment on account of £152,000, in May 2023. There are several morg steps in th9 process before the Scheme is wound up. all amounts are sellled, and the charlly's flnancial exposure ceases. The remaining amount due 18 8ublecl lo th& flnallsallon of cost8 of the negotiations and the wlnding.up process, whlch M￿$¢ be mel from the Scheme. 19 Related party tran8actlon8 Slsters The Slslers of the Congregallon are beneficlaries of th$ charity, irs that the costs of thelr ministry and welfare are mel by the charity. The tru8lee8 are all Sisters and they are not rgmunerated for Ihelr services. No Iruslee had any beneficlal Interest in any Gontract with the charity. The trustees, as Sisters of the Congregation, covenant their pensions and other Income lo the charity. Durirbg the year the six trustees covenanted an aggregate of £114,101 to the charity12022- £115,055). International Generalato Until September 2021, The International Generalale occupied Sl Joseph's Convent irb Cheam, Surrey ané pald a nomlnal annual renl to the English Province. The lease was terminated when the Generalale relocated to Rome in September 2021. Worldwlde Congregation The Sisters are members of the worldwlde Congregation of the Daughters of the Cross of Lieg& and the charity has objects which are not reslricled lo the UK. Total grants of£165,000 {2022- £146,000) were made during the year lo the worldwide Congregation. Grants were made for projects In Rourkela Ilndial, Nep81 and Cameroon. Since the year end. the Iruslees agreed a donation of £2m for Kolkala. Th8 CDngregalion of ilie Daughters of Ihe Cross of Liege 46

Notes to the financlal statements 31 March 2023 19 Relatod party transactions (conlinuedl St Raphael's Hosplce Two trustees of this charity,. Sister Veronica Hagen and Sister Kathleen O'Reilly are trustees of the St Raphael's Hospice charlty- On 1 November 2020, this charity and the Hospice entered into three 20-year lease agreements for the Hospice building, the 759 London Roa office, and St Bede's conferenc8 cenlre. All three leases have a nominal rent of £100 per annum. St Elizabeth's Centre Two Iruslees of the Daughters of the Cross are Iruslees of Sl Elizabeth's Cenlre,. Slster Veronica Hagen and Sister Josephine Clemence. Durlng the year, this Charity paid a grant of £1,750,00012022 - £nill lo St Elizabeth's Centre to assist with excepllonal staffing costs. Since the year end. the Iruslees agreed a donation of £2m to Sl ElSzabeth's Centre. 20 Capital commltments As al 31 March 2023 the Gharlty had commllrnent5 of £317,000 12022 - £140,000) for projects al Cheam and Haslemere. 21 Penslon commltments The Works conlrlbule lo p&nslon schemes, providlng p8n$ion5 und•r both defined benefll and deflned conlributlon arrangements. The assets of the funded sch8mes are held ind8pen¢enlly of the charlly's flnances. Delall8 of the contr6bullons are as follows.. Contrlbutlono In 2023 £'ooo gr 2022 £'ooo Namo pè ofscheme Admlnlstrator Holy Cross Ho¥pltal Holy Cross Hospltsl Province N¢n.$¢heme eontribulion5 Dafined bènefit Dèfinod tontribuilon 08fin8d conirlbullon NHS Pension Thè Pèople'$ Ponslon The P8ople'$ Pen￿On 13 121 19 11 1e4 138 20 11 17T Natlonal Health SeNice (NHS) Pension Schem¢ The NHS pension scheme is a defined benefit scheme operated by the National Health SeNice Superannuation Scheme. The admlnislration of the scheme 15 dealt with by the National Health Service Pension agencies. The charity is unable lo identify ils share of the underlying assets of the schome. Accordingly. il has accounted for ils contributions as rf il were a deflned conlrlbulion scheme. Conlrlbutions lo thi$ Scheme are paid in respect of current service. There is no liability to the charity in respect of past service. 22 Post balance sheet events Other than donations disclosed in note 19, there are no post balance sh8el events that require disclosure. The Congreg31ion of Ilie Daughlers of the Cross of L￿ge 47

Notes to the financial statements 31 March 2023 23 Scope The finanGial Statements dis¢lo$e the financial position arbd result$ of Ihe charitable company, which incorFN)rale and aggregate the results of the Province and Holy Cross Hospital. Haslemer&. Surrey. As al 31 March 2023, the five exisling Gommunilies were.. Cheam St Mary's, Surrey- Chelsea. London., Haslem8re, Surrey,. Much Hadham. Hertfordshir6,' Slillorgan (Dublin), Ireland. 24 Accountlng pollcle$ Bosls of preparatlon of fln8nclal statements The financial slalernents have been prepared In accordance wlth the Charities SORP (FRS 102} A¢¢ounling and Reporting by Charities.. S￿lement of Recommended Praclice applieable lo charilles preparlng Ihelr accounts In accordance with th8 Flnanclal Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 {effeclive 1 January 2019}, Ihtr Financial Reportlng Standard appllcable in the UK and Republlc of Ire18nd IFRS 102) and the Companies Act 2006. The Congregation of the Daughters of the Cross of Lelge rneels the deflnlllon of a publlG b$nefil enlily under FRS 102. Assets and liabllllies are inSllally recognised at hlslorlcal co81 or Iransa¢lion value unless olherwlse staled In the relevant ac¢ounllng pollcy. Crltlcal 8¢countlng estlmates and areas ofjudgomont The Iruslees consider that the ludgemenls they have made In the process of applying the charlly s accounting pollcles whlch glve rise lo slgnrficanl effects on the amounts recognlsed in the flnancial statements are.. The estimated useful lives of fix8d assets and therefore the rates of depreciation,. + The futurè commllmenls and other obllgallons that are used lo estab118h the value of designalod funds., and The fair value of listed and unlisted investment5. The Iruslees do not consider that there are any key assumptions concerning the future. or any other key sources Of estlmallon uncertalnly, that have a slgniflcanl risk of causing a material adjuslmenl lo the Garrying amounts of assets and liabilities wilhirn the next reporting period. Going Goncern status The Iruslees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements and they have rnade this assessment in respect of a period of ong year fr¢m the date of approval of these flnanclal statements. The trustees are confldent that the charity has, and will continue to have, sufficient resources lo meet Ils 5iabililies as they beGome due. The trustees have ¢onGluded that there are no material uncertainties related lo events or conditions that would cast significant doubl on the ability of the charity to continue as a going concern. This is because they believe they have sufficient unre51ricted reserves to wIthStar￿ any temporary drop income or any additional unexpected liability. The Congregation ol Ihtl Daught615 of the Cr05s of Li￿£ 48

Notes to the financial statements 31 March 2023 24 Accountlng pollcles Iconllnuedl InGome All income is recognised once the charity has enliilemenl lo the income, il is probable that the income will be recelved and the amount of income recelvable can be measured reliably. At the end of any financial year, th8 charity will hav8 issued invoices to local aulhoTilies, health authorities, and individuals which cover a period beyond the balance sheet dale. This Income Is carrled forward and di5¢1osed as 'ln¢om& r&¢eiv8d In advance" In accordance with the Charities SORP FRS 102, no financi81 valuation of volunteer lime is recognised in these flnanclal slalem&nts. Donallons represent income glven by Indlvlduals, corporallons and trusts Includlng recoverable laxalion. Legacles are inoluded in the ststemenl of flnancial activities when there has been a grant of probate, the executors have eslabllshed Ihal there are sufflcient surplus assets In the estate lo pay the legacy, and any condllions allached lo the legaGy are within the control of the charlly. Covenanted Income from the Sisters of Ihe Congr8gallon ar18e8 from the donallon of Iholr penslons and other income. Grants recelvable are accounted for In the period In whlch they fall due. Grants from the governmersl and other ag¢n¢ie$ are in¢luded as income from charitable acllvitles where they amount lo a Contract for services, ané as donations where th6 money is given In response lo a fundral8lng appeal or with great9r freedom of use. Income lax recoverable In relatlon to investment income 1$ recogni88d al the lime the Investment In¢om& is re¢givablg. Olh&r income is rocognlsed In the period in which it is rge&ivabl¢ and lo the oxlonl the goods have been provided or on completion of the service. Income from ch8rlt8ble activities Fees and Charges are derived from individuals and Public Authorities and are stated exclusive of VAT. Other income represents proceeds from the sale of food and sundry other irncome. Investment income Investment income. representirng dividends. interest, and in¢ome frorTr propety. inGludes any associated lax recoverable. Dividends are recognised once the dividend has b9en declared and when the righl to receive the dividend payment Is irrevocable. The Congregètioii ol the Oaughters of the Cross of Liege 49

Notes to the financlal statements 31 March 2023 24 Accountlng pollcSes Iconllnuedl Expenditure Expenditure is reeognised once the￿ is a legal or conslruclive obligation to transfer economic benefit lo a third paty. il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each acllvily are made up of the total of direct costs and shared c0818. including support cost$ involved in undertaking each aclivily. Direct costs allrlbulable lo a single activity aro allocal8d directly lo that aclivily. Shared costs which contribute lo more than one activity and support costs which are not attributabl8 to a single acllvlty are apportloned bebmeen those aclivllies on a basis ¢onsislenl with the use of resourGes. Central staff costs are allocated on the basls of Ilme spent, and d8pr8clallon charge8 allocated on the portion of the as8el'8 use. Expenditure on raising fund8 includes all expenditure incurred by the Gharily lo ralse funds for ils charitable purposes and Includes Costs of all fundraising aclivilies events and non-charilable trading. Expenditure on charitable aclivlli8818 incurred on dlreelly und?rlaking the acllvilles whlch further the charlty's objectives, as well as any asso¢ialod support costs. All expendituro is inclusivg of irrgcoverable VAT. Interest recelvable Intere81 on funds helrj on deposlt is In¢ludeé when recelvable and the amount can b8 measured rellably by the charity,. this is normally upon nolificalSon of the Intere8t paid or payable by the inslllulion with whom the funds ar8 deposlled. Tanglble flxed assets and depreclatlon Tangible flxed assets are inlllally recognised al Gost or valuation, less accumulated depr8cialion and, where appropriate, impairment provisions. All assets cosllng £5,000 or more. and with an expected useful life exceeding one year, are Gapilalised. A review for Impalrmenl of a fixed assel Is carried out If events or changes in ¢ircumslances indlcale that the carrying amount of any fixed asset may not be r8coverabl8. The majority of freehold land and buildings under the total conlml of the trustees and in us8 withln the charlly were valued at 31 March 2014 on a dep￿Ciated replacement cost or an existing use basis. Under the transitional arrangements sel out in FRS 102, the valuations are deemed to be equal to cost al the dale of transition. Subsequenl additions are slated at C051. Depreciation is Charged so as to allo¢alo the cost of langlb19 flxed assets les8 Ihelr residual value over their eslimaled useful lives. using the slraight-line method. Depreciation is provided on the following bases- Freehold propety Leasehold property Motor vehicles Medical, computer and office equipment The CongregatDn of Ilie Daughters ol the Cross ol Liege 50 2.5Qkn on cost or revalued amounts over the period of the lease 10-25¥D on cost 4-33°k on cost

Notes to the financial statements 31 March 2023 24 Accounting policies (continued) Investments Fixed asset investments are a form of financial instrument and are initially rerognised at their Iransa¢lion cost and subsequently me88ured al fair value 81 the Balance sheet dale, unless the value canr￿1 be measured roliably in wh1ch case it Is measured at cost less impairment. Inveslrnenl gains and losses. whether realised or unrealised, are combined and presented as 'Gain51(Lossesl on investments. In the Slal&ment of financial aclivltles. Debtors Trade and other debtors are recognSsed al the s8ttlemenl amount after any Irade dlscount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. Cash at bank and In hand Cash al bank and in hand includes cash and shorl-term highly liquid investments with a short malurily of three months or less from the dale of acqui$ilion or opening of the depo811 or similar account. Llabllltles Liabilities and provlslons are recognlsed when there 1$ an obllgallon al the Balance sheet dale as a result of a past event, 11 Ss probable that a transfer of e¢onomi¢ b¢n¢fil will be requlred In Selllemenl, and the amount of the settlement can be eslimaled reliably. Llabllilles are recognlsed al the amount that the charlly anliclpales il will pay lo sellle the debt or the amount il has recelved as advanoed payments for tho goods or $ervi¢88 il rnusl provlée. Provlslons are measured al the best esllmale of the amounts required lo settle the obligation. Where the effect of Ihe lime value of money Is material, the provision 15 based on the present value of Ih05e amounts, discounted al th8 pre-tax discount rale that r&floctS the risks speclfle lo the liability. The unwindlng of the discount Is recognised in the Statement of financial activities as a finance c051. Flnanclal Instruments The Charity only has financlal assets and flnanclal Ilabililles of a klnd that quallfy as baslc financial inslrumenls. Basic financial instruments are initially recognised at IransaGlion value and Subsequently measurgd at Ihelr selllemenl value with the excepllon of bank loans which are subsequently measured at amortised cost using the effective interest method. Penslons • Defin&d beneflt schom8s The charity contributed lo one defined benefit pension sGheme, the NHS Pension Scheme. providing benefits based on either final or career-average pensionable salary. depending on the scheme. The National Health Service Superannuation Scheme is a multi-employer defined benefit scheme and is an ursfunded scheme. As il is not possible to identify the share of the underlying assets and liabilities belonging lo individual participating employers, the contributions to the scheme are recognised in the slalemenl of financial aclivilie8 so as lo spread the cost of pensions over employees, working lives. The Congreg21ion of the Davghters of Ihe Cross of Liège 51

Notes to the flnanclal statements 31 March 2023 24 Accountlng pollcles Iconllnuedl • Deflned Gontributlon schemes The charity operates a rbumber of defined contribution pern$ion schemes. The amounts charged to the slalefflent of financial aclivllies repr&s8nls the employers, contributions payable lo the schemes in the year. Fund accounting The general fund represents unrestdcled and undesignaled monies used lo fund workin9 capital and which the trustees may use al their discretion in furtherance of the charity's objects. Designated funds are those funds earmarked by the Iruslees for a speciflc purpose. They are unrestrlGled, and the trustees may ullimately use such funds for other purposes. Any income, gains or105ses on the assets underlying the design8led funds form parl of general unr&strlcted funés. The fJné$ represanled by the net bo¢k value offixed assets are Irealed 88 desi9naled fvnd$. The reslrlcled funds are funds which hav6 been raised for a speclflc purpose or whi¢h are sublecl lo reslricllons on their use and Include those funds whlch have to bo spent al a parllcular Work. Reslrlcled funds ralsed for Capital gxpenditure are released lo unreslrlcted funds once they have been spent. Any income, gains or losses arislng from the a8se18 underlying the reslrlclgd funds form part of reslricled funds. The Congreg8lion of tlie Daughters of the Cross of Liege 52