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← The Franciscan Missionaries Of St. Joseph

2023-12-31-accounts

Charity Registration Number: 1135474 Company Registration Number: 07010772 (England and Wales)

The Franciscan Missionaries of St. Joseph

Accounts

For the Year Ended 31 December 2023

The Franciscan Missionaries of St. Joseph Accounts for the Year Ending 31 December 2023

Index

1 Charity Information
2 Report of the Trustees
37 Auditor's Report
41 Statement of Financial Activities
44 Balance Sheet
45 Consolidated Statement of Cash Flows
47 Notes to the Accounts

The Franciscan Missionaries of St. Joseph

Charity Information

For the Year Ended 31 December 2023

Trustees Sister Anne Moore
Sister Margaret Nyabongoye
Sister Ann Jentrix Murundu (appointed 9 October 2023)
Sister Brenda Makokha
Sister Frances Slater (appointed 9 October 2023)
Congregation Leader Sister Anne Moore
Assistant Congregation Leader Sister Margaret Nyabongoye
Congregational Bursar Sister Ann Jentrix Murundu
Secretary General Sister Frances Slater
Registered Office St Joseph’s Convent
150 Greenleach Lane
Worsley, Manchester
M28 2TS
Registered Charity Number 1135474
Registered Company Number 07010772
Accountants John A. Porter & Co.
74 Dickenson Road
Manchester
M14 5HF
Auditors Azets Audit Services
Alpha House, 4 Greek Street
Stockport
SK3 8AB
Bankers Royal Bank of Scotland plc
1 Hardman Boulevard
Manchester
M3 3AQ
Investment Brokers Amber River True Bearing
Assurance House
Chorley Business & Technology Centre
Euxton
Lancashire
PR7 6TE
Solicitors Stone King LLP
13 Queen Square
Bath
BA1 2HJ

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Report of the Trustees

The Trustees present the report and audited accounts for the Congregation of the Franciscan Missionaries of St Joseph for the year ended 31 December 2023.

Introduction

The Congregation of the Franciscan Missionaries of St Joseph of the Third Order Regular of St Francis of Assisi (the Order) was founded in 1883 and is regulated by a Trust Deed dated 27[th] December 1963.

The Order was incorporated by order of the Charity Commissioners sealed on the 2nd day of June 1983 in the matter of a Charity for Roman Catholic purposes administered in connection with the Congregation of the Franciscan Missionary Sisters of St. Joseph of the Third Order Regular of St Francis of Assisi (hereinafter called "the Congregation") which Charity is regulated by a Trust Deed dated the 27[th] day of December 1963 as varied or affected by Schemes of the Charity Commissioners of the 14[th] day of December 1982 and the 29[th] day of August 1996.

The Order is registered with the Charity Commission under Charity Registration Number 1135474 and with Companies House as a Charitable Company Limited by Guarantee with no Share Capital (Registered Company Number 07010772 (England and Wales)). The Company was incorporated on 7 September 2009 and the functions and assets of The Order were transferred to the Company on 1 January 2011 by a Transfer Deed dated 18 February 2011.

The Congregation is an international Roman Catholic religious congregation supporting 96 Sisters worldwide and it is divided into five distinct regions or administrative areas across the world .

Mission

The Congregation of the Franciscan Missionaries of St Joseph aims to support the religious and other charitable works carried on by the members of the Congregation and to care for those members throughout their lives within the Congregation.

The charitable work of the Congregation is authorised in England and Wales or elsewhere under the direction of the Congregation as the Trustees and this is currently undertaken in England, Ireland, United States of America, Kenya, Uganda, Ecuador and The Netherlands.

The ministries of the Sisters of the Congregation are built on and supported by a ministry of prayer and benefit large numbers of the general public. Our ministries fall into the following main areas:

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

• Social and Pastoral Work

Many Sisters of the Congregation are involved in various forms of social or pastoral work, including care of the elderly, the sick and under privileged and chaplaincy in hospitals and universities.

• Operation of Residential Care Establishments

During the year the Sisters provided care and assistance to the elderly at two establishments operated by the Charity; Franciscan Convent, Blackburn which provides care for Sisters of the Congregation and some members of the general public and Franciscan Convent, Burnley which provides care for Sisters of the Congregation who are in need of care.

• Overseas Missionary Work

The Sisters are engaged in missionary activity in and beyond our own country or culture. The Charity helps to support Sisters working in healthcare, education, social and pastoral ministries in Kenya, Uganda and Ecuador.

Governance, Structure and Management

In terms of Canon Law, the Congregation is governed at an international level by the Congregational Leader and her General Councillors in Manchester, UK. They are elected every six years at a meeting of representatives of all the regions of the Congregation. The Congregational Leader and her Council govern the whole Congregation and historically have particular responsibility for the UK, The Netherlands and The United States. Ireland, Ecuador and Kenya are governed by a Regional Leader and her Council but are responsible to the Congregational Leadership Team who are the Trustees of the Charity. Uganda is governed by the Regional Leader and Council in Kenya. The Trustees are elected for their personal qualities, their understanding and experience of the ministries of the Sisters and to secure a good skills mix among them.

Each community is governed by a local Leader appointed by the Regional or Congregational Leader. Four communities without a resident local leader are now responsible to one appointed local leader. There is a system of accountability operational throughout the Congregation to ensure that the Congregational Leader and her Councillors are aware of the progress and development of the ministries carried out by the Sisters of the Congregation. The Congregational Leader visits every community at least once every three years and visits are also made by the Sisters in the Leadership Team at regular intervals.

In terms of Civil Law the Charity is governed by a Trust Deed dated 27 December 1963 and is a Registered Charity. The Trustees of the Charity are the Congregational Leader, her four Councillors and the Congregational Bursar. At the present time the Congregational Bursar is also a Councillor and this means there are five instead of the normal six Trustees. As all the Trustees are members of the Congregation they have a detailed knowledge of the work of the Charity and its structure. On being appointed there is a handover period of up to six months during which time the old and new teams work together to ensure continuity and a full understanding of responsibilities. Trustees are required to take part in on-going training to ensure they are kept up to date with changes in legal, accountancy and investment regulations.

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

The names of the Trustees who served during the year are set out as part of the reference and administrative details which follow, together with brief biographical details on each of the Trustees.

Congregation Leader Sister Anne Moore Congregational Councillors Sister Margaret Nyabongoye (Assistant Congregation Leader) Sister Ann Jentrix Murundu (appointed 9 October 2023) Sister Frances Slater (appointed 9 October 2023) Sister Brenda Makokha Congregational Bursar Sister Ann Jentrix Murundu (appointed 9 October 2023)

The Trustees, who are all Congregational Councillors, were elected at the 2023 General Chapter. Sister Anne Moore was elected as the Congregational Leader and Sister Margaret Nyabongoye was elected as the Assistant Congregational Leader. Sister Ann Jentrix Murundu, Sister Frances Slater and Sister Brenda Makokha were each elected as Congregational Councillors. The Trustees each serve for a six year term until the next General Chapter in June 2029.

Sister Ann Jentrix Murundu was appointed as the Congregational Bursar and Sister Frances Slater was appointed as the Secretary General and the 2023 General Chapter, each of these appointments are for three year terms.

Sister Maureen Murphy and Sister Joan Kerley completed their term of office at the 2023 General Chapter.

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Sister Anne Moore – Congregational Leader

Sister Anne entered the Congregation at the age of 17. After initial formation she trained as a teacher in Sedgley Park College of Education and then taught for one year in St Hilda’s Comprehensive Secondary School in Burnley. She then did a diploma in Missiology at the Missionary Institute in London before going to Kenya in October 1976.

Sister Anne taught in a Secondary School in Kisii, Kenya, for eight years. From January 1985 till 2011 Sister Anne was the Religious Education Adviser for Kisumu diocese. This involved working with primary school teachers and catechists in the diocese. From 1993 to 2011 she was on the staff of the Mill Hill Missionaries Basic Formation Centre in western Kenya on a part time basis teaching some classes and helping with spiritual direction.

In 1987 she was appointed Regional Superior for Kenya for six years and at the end of this term was reappointed for another six years until 1999. In 1999 she went to the Jesuit Milltown Institute in Dublin for 2 years where she did an MA in Spirituality.

She went back to Kenya in 2001 and was appointed Regional Bursar, a position she held until the General Chapter of 2011. Sister Anne was also the Juniorate Directress and Chairperson of the Formation Team. She was elected on to the Regional Council as the Assistant Regional Leader .

At the 2011 General Chapter Sister Anne was elected as a member of the General Council and also as the Assistant Congregational Leader for a period of 6 years. Sister Anne was then reelected as Assistant Congregational Leader at the 2017 General Chapter for a further six year term .

Following the 2011 General Chapter Sister Anne was appointed as the Congregational Bursar for a 3 year term and has been reappointed to this position for further 3 year terms in June 2014, June 2017 and June 2020.

At the General Chapter in June 2023 Sister Anne was elected as the Congregational Leader for a six year term.

Sister Margaret Nyabongoye – Assistant Congregational Leader

Sister Margaret joined the Congregation after working for over a year as a qualified Nurse and Midwife. She finished her initial formation at the age of 27 years and was then appointed to the Holy Family Convent, Kisumu, Kenya, where she did a one year certificate course in Public Health, and later worked in Community Based Health Care and Child Survival programmes in the Archdiocese of Kisumu. After some years she was appointed to Marigat Mobile Clinic, a clinic run by the Franciscan Missionaries of St Joseph in a semi-arid area of the Rift Valley, Kenya.

In 1998/1999, Sister Margaret did a one year certificate course in Franciscan Formation and Spiritual Direction at the Franciscan Study Centre, Canterbury, UK. After completion, in 2000, Sister Margaret was appointed to the Nairobi Novitiate as the Assistant Novice Mistress. While in the novitiate, she also did some more selected studies on Formation in Tangaza College in

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Nairobi and after two years of assisting in the Novitiate, she was appointed Novice Mistress, a position she held for six years and at the end of 2008 went for a 3 month sabbatical course.

Sister Margaret was part of the African Regional Leadership Team for three terms (9 years) and as Formator to the Temporary Professed Sisters in the African Region for 6 years. Sister Margaret was also involved (between 2009 and 2011) in Pastoral Work in the Parish of Luanda in western Kenya and at the same time assisted in the Mill Hill Missionaries/FMSJ Joint Formation Programme, mainly in the area of Pastoral Outreach and Spiritual direction.

In 2011, Sister Margaret was part of a team of four sisters commissioned in the foundation of a new FMSJ community in Panyangara, Kotido Diocese, Karamoja, which is a marginalized region in the northern part of Uganda. In Panyangara, Sister Margaret engaged in Pastoral work with the local community. During this time Sister also attended a course organised by the Association of Religious of Uganda on basic Financial Management. At the end of 2016, after 5 years in Uganda, Sister Margaret was appointed back to Kenya to assist in the finance office at a Diocesan Secondary School in Mpeketoni, Malindi Diocese.

At the 2017 General Chapter, Sister Margaret was elected as a member of the General Council for a six year term and was subsequently appointed as Novice Mistress in the UK for a period of three years. Sister Margaret was re-appointed to this position for a further period of three years in June 2020.

At the General Chapter in June 2023 Sister Margaret was elected as the Assistant Congregational Leader for a six year term.

Sister Ann Jentrix Murundu – Congregational Bursar

Sister Ann Jentrix Murundu is a bona fide member of the Franciscan Missionaries of St. Joseph an accountant by profession with 12 years of experience in Administration, grant management with a range of both local and international donors, Human resource, Finance, and accounting within non-profit organizations. She prides in mentorship of young professionals in the field of finance and administration especially interns.

She is currently the Congregational Bursar and a General council member of the Congregational Leadership of her congregation following the 19th General Chapter of June 2023, currently based at the Congregational Generalate in Manchester, UK. Previously she was the Regional Co-Leader of the Franciscan Missionaries of St. Joseph- Africa Region from 2020 to 2023, assistant Regional Bursar from 2018 to 2023, During this period, she enjoyed mentoring young sisters who had been put in managerial positions without much experience. She worked as Finance Administration Manager at Jesuit Hakimani Centre (JHC) from 2011 to 2020. While at JHC she was the Safeguarding officer for both Jesuits in Eastern Africa and JHC itself. She worked closely with Jesuit projects in East Africa that is Kenya, Uganda, South Sudan, Tanzania, Ethiopia & Sudan supporting them in finance and accounts of donor funded projects. This saw her travel across East African countries and Zambia. Before joining JHC she worked as the administrator of Marigat Mission Dispensary from 2007 to 2010, at Kisumu Urban Apostolate

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Programs (KUAP)-Health program as a clerk, drug store manager and as an assistant in the pharmacy.

Ann Jentrix has a degree in Applied Accounting from Oxford Brookes University, UK; An Advanced Diploma in Business and accounting by Association of Chartered Certified Accountants (ACCA), ACCA Advanced/Option level. Studying at Strathmore University, Kenya. She has a Certificate in Administration and Management from Marywood University, USA.

At the General Chapter in June 2023 Sister Ann Jentrix was elected as a Councillor and appointed as the Congregational Bursar for a six year term.

Sister Frances Slater – Secretary General

Born in Dublin in 1950 Frances Slater studied for her Leaving Certificate in schools run by the Holy Faith Sisters. She began her novitiate in 1969 and made religious vows two years later in the congregation of Franciscan Missionaries of St. Joseph. From 1972 to 1976 she followed studies at Sedgley Park College and graduated with an honour’s degree in Education. Having taught history and religion for two years in Bishop Henshaw’s Secondary School in Rochdale, she volunteered for our mission in Mancora, north Peru. Six months were spent learning Spanish in Lima followed by over a year teaching religion in the local secondary school.

When a request was made for religious sisters for a new mission in Ecuador Frances and three companions went there. For over 35 years she would carry out various pastoral and formation ministries while also holding positions of leadership at local and regional levels. Her last ten years in Ecuador were spent as councillor to religious at the Ecuadorian Conference for Religious.

She could do this work because of being given opportunities for further study – a nine-month residential course on human development in 1987 at St. Anselm’s Institute, a three month course on spiritual direction at the Franciscan study Centre in 2001 and two years studying counselling at Kent University from 2003 to 2005. While following the diploma in counselling Frances worked part time as a Mental Health Support Worker and, as a member of a chaplaincy team, and made weekly visits to St. Martin’s Psychiatric Hospital.

Having obtained a diploma in counselling she worked at Waymark Counselling Centre, Canterbury for two years after which she returned to Ecuador. In June 2023 Frances was elected to the general council of the Franciscan Missionaries of St. Joseph for a six year term and now resides in Manchester where she carries out the role of secretary general and prefect of formation.

At the General Chapter in June 2023 Sister Frances was elected as a Councillor and appointed as the Secretary General for a six year term.

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Sister Brenda Makokha

Sister Brenda entered the Congregation in 1997 at the age of 24. After her initial formation in Kenya, Sister Brenda was appointed to St. Theresa’s community in Marigat, in the Kenyan Rift Valley and here she was involved in parish work from December 1999 to 2002, working with internally displaced people at St. Francis Centre.

From 2002 to 2005, Sister Brenda trained as a social worker at Kobujoi Development Training Institute, obtaining a Diploma in Social Development work. Upon completion of her studies, Sister Brenda was appointed to Witu Parish in Malindi diocese to open a new FMSJ community. In Witu Sister Brenda was involved in working with other denominations in interreligious dialogue on issues of security. She was also involved in working with people living with HIV/AIDS and women’s groups. Due to the social dynamic of the ministry, Sister Brenda did a certificate course in Pastoral Counselling from December 2005 to August 2006 at Amani Counselling Centre in Nairobi.

From August 2007 to June 2008 the Congregation asked Sister Brenda to do a course in Formation and Administration at Loreto House/IMU in Dublin. She was then appointed preNovitiate director for the Congregation for a three year term. During this time Sister Brenda was part of the staff of the FMSJ and Mill Hill Missionaries Joint Basic Formation programme in Luanda.

In 2011, Sister Brenda was appointed Regional Superior for Africa covering Kenya and Uganda, for a six year period. During her term as Regional Superior, Sister Brenda also served as a member of the Executive Committee of the Sisterhoods of Kenya (AOSK) for six years, being responsible for formation. From 2013 to 2018 Sister Brenda was on the staff of the Mill Hill Missionaries formation programme in Nairobi accompanying students on their formation journey. In 2013 Sister Brenda also did an online certificate course in Child Protection in Development Practice through the Kimmage Development Studies Centre in Ireland. From 2016- 2018, Sister Brenda served on the Board of Trustees of Tangaza University College in Nairobi.

At the 2017 General Chapter, Sister Brenda was elected as a member of the General Council for a six year term. Following the General Chapter she was appointed as the Secretary General for a term of three years. Sister Brenda was re-appointed to this position for a further period of three years in June 2020.

At the General Chapter in June 2023 Sister Brenda was re-elected as a member of the General Council for a six year term. Sister Brenda’s term of office as the Secretary General expired at the 2023 Chapter.

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Trustees Responsibilities

The Trustees, who are also the Directors of The Franciscan Missionaries of St. Joseph for the purpose of company law, are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including income and expenditure, of the Charitable Company for that year. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities .

The Trustees are responsible for the maintenance and integrity of the information on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Structure and Management Reporting

The Trustees are ultimately responsible for the policies, activities and assets of the Charity. They meet regularly to review developments with regard to the Charity and to make any important decisions in conjunction with advice from our Professional Advisers .

Sisters live in the UK in 9 communities. The majority of houses are in Salford Diocese where the Congregation was founded and one house is in Freshfield, Liverpool. From these various locations the Sisters minister to the poor and marginalised in society. Local leaders, in charge of these communities, liaise regularly with the Trustees.

The day to day responsibility for Franciscan Convent, Blackburn, a registered residential care home, rests with the Manager, Mrs Cheryl Weall. Similarly, day to day responsibility for Franciscan Convent, Burnley, rested with the Manager, Mrs Janet Crawford who retired at the end of March 2024 with Mrs Susan Fegen taking over as Manager on 1 April 2024. Both Managers meet regularly with the Congregational Bursar who reports back to the Trustees.

The Trustees are part of The Order and receive the same benefits and incur the same expenses as other members of the Congregation. These transactions are not reported separately.

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Overseas Houses

There are overseas houses located in Ireland, the United States of America, Kenya, Uganda and Ecuador. In addition there are two Sisters located in The Netherlands. The Dutch Sisters reside in a state run retirement home and their Dutch Pensions are used to pay the retirement home fees. Any surplus personal allowance is periodically remitted to the UK Central Fund. No bank account is maintained in The Netherlands.

Internal transactions of overseas houses are not incorporated in the financial statements set out on pages 37 to 66.

Unaudited accounts for each overseas region and notes thereon, are set out on pages 68A to 116A.

There is now only one Sister in the United States and an accountant is employed part-time to prepare the accounts. There is no longer a US Region, the remaining Sister living in America is now part of the UK area.

A program to strengthen financial management overseas is ongoing. This program includes regular visits to each Region by the Bursar General and a re-affirmation of the financial guidelines under which each Region operates with particular regard to the requirement to communicate financial changes and planned financial changes to the Bursar General.

Where appropriate, the appointment of external Regional accountants will be considered and this has already been actioned in the United States of America Area. The Africa Region have appointed external auditors who assist with the preparation of the Africa Region accounts which are set out on pages 86A – 111A.

Working with Other Organisations

The Charity works closely with a number of other charities in the field of providing care to the vulnerable and elderly. In some instances Sisters are employed by these organisations, whilst in other circumstances the relationships are more informal. In all cases, working together with other charities enhances communication and understanding, thus enabling services to the elderly to be provided more effectively and avoiding duplication of effort. Examples of the organisations for which members have worked and with which the charity has co-operated during the year are as follows:

Roman Catholic Archdiocese of Liverpool Roman Catholic Diocese of Salford Caritas, Diocese of Salford Rainbow Family Trust, Salford Mill Hill Missionaries The Medaille Trust L’Arche, Manchester

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

• Risk Management

In line with the requirement for Trustees to undertake a risk assessment, the Trustees have identified and reviewed the major risks to which the Charity is exposed and systems have been established to mitigate those risks. The Trustees have identified the following areas where risks may occur.

Risk Register - Governance Risks Risk Register - Governance Risks Risk Register - Governance Risks
This is the
risk area /
topic		 These are the
potential impacts
on the organisation		 This is how we are currently
reducing the risk		 Priority This is what
we need to do
to further
reduce the
risk
Organisation
lacks
direction &
forward
planning		 •The organisation
has no clear
objectives, priorities
or plans
•Issues are
addressed
piecemeal with no
strategic reference
•Needs of
beneficiaries not
fully addressed
•Financial
management
difficulties
•Loss of reputation		 ✓6 -year plan in first year of operation
but not yet fully implemented as
awaiting ratification from Rome.
African zone has own leadership
teams in position & other zone(s) are
aware of developments to be
undertaken
✓On-going reviews are undertaken
by the Trustees and Leadership
Team several times per annum
✓New structure and developments
have been mandated by the
Congregation
✓Trustee and Leadership Team
meetings held on a regular basis
where issues related to direction
are discussed
✓Regular communication with all
members of personnel via
mechanisms such as ‘WhatsApp’,
‘Zoom’etc.
Low		 Monitor &
Maintain
existing
controls
Trustee body
lacks relevant
skills or
commitment		 •Organisation fails to
achieve its purpose
•Trustees are
bypassed in the
decision-making
process
•Resentment or
apathy amongst
staff & volunteers
•Poor decision
making reflected in
poor service delivery		 ✓Trustees and senior leadership
team now in place following the
Chapter meeting held in June 2023
with 2 new Trustees
✓New Trustees and members of the
Leadership Team provided with
training in relation to their roles and
personnel who have held the roles
previously are available for support.
Gradual handover process
covering systems and processes to
be undertaken during this year.
✓Organisation operates through
consultation and communication
across all areas to ensure service
delivery is maintained at required
levels		 Low Monitor &
Maintain
existing
controls

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Risk Register - Governance Risks - Continued Risk Register - Governance Risks - Continued Risk Register - Governance Risks - Continued
This is the
risk area /
topic		 These are the
potential impacts
on the
organisation		 This is how we are currently
reducing the risk		 Priority This is what
we need to do
to further
reduce the
risk
Trustees
dominated by
one or two
individuals (or
connected
individuals)		 •Trustees body
cannot operate
effectively as a
strategic body
•Decisions made
outside the
Trustee body
•Conflicts of
interest
•Pursuit of personal
agenda
•Culture of secrecy
•Arbitrary
overriding of
control
mechanisms		 ✓Elected representatives in position
with suitable personnel for the roles
assigned
✓Structure and constitution of the
organisation now ratified and
comprises of 2 Zonal teams covering
global operations – 1) Africa and 2)
U.K. & other operational areas
✓Regular communication with all
relevant personnel & areas to ensure
provision of information
✓Control mechanisms in position and
adhered to by all relevant personnel
including physical Leadership Team
meetings

Low		 Monitor &
Maintain
existing
controls
Trustees are
benefiting from
the organisation		 •Poor reputation,
morale & ethos
•Adverse impact on
overall
environment
•Conflicts of
interest
•Possible
regulatory action		 ✓Individual trustees committed to the
ethos of the organisation – all are
members of the organisation
✓Profile of trustees and organisation
raised through personal visits being
conducted to areas of operation.
Visits undertaken to Ireland &
Kenya recently
✓Review of operations via external
auditors would identify any issues in
respect of personal benefit by a
Trustee
✓Whistleblowing policy & ethos of
organisation would identify any
conflicts of interest		 Low Monitor &
Maintain
existing
controls
Conflicts of
interest		 •Organisation
unable to pursue
its own interests &
agenda
•Decisions may not
be based on
relevant
considerations
•Impact on
reputation
•Private benefit		 ✓All aspects of the organisation are
considered via Leadership Team
meetings – it reviews actions and
requirements through discussion
and consultation
✓Leadership Team identify the
direction based on the strategy
established for the organisation.
Strategic Plan reviewed annually
with a formal review every 3 years
✓Reputational risk would be
addressed through involvement of
legal support as and when required
plus involvement of the Diocese		 Low Monitor &
Maintain
existing
controls

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023
Risk Register - Governance Risks - Continued
This is the
risk area /
topic		 These are the
potential impacts
on the organisation		 This is how we are currently
reducing the risk		 Priority This is what
we need to do
to further
reduce the
risk
Ineffective
organisational
structure		 •Remoteness from
operational activities
•Uncertainty as to
roles & duties
•Decisions made at
inappropriate level
to excessive
bureaucracy		 ✓6-year strategic plan established in
June 2023
✓Recognition that organisation
needed to develop its strategy
through changing of constitutions
and streamlining to improve
effectiveness and address
practicalities
✓New Trustees and Leadership
personnel have been involved with
operational activities for a period
prior to their appointments
✓Leadership Team maintain visibility
across all operational areas and
undertake reviews on an on-going
basis with opportunity provided for
discussion and consultation		 Low Monitor &
Maintain
existing
controls
Loss of key
staff		 •Experience / skills
are lost
•Operational impacts
on key projects &
priorities
•Loss of contact base
& corporate
knowledge		 ✓Minimal impact on operations due
to several personnel remaining on
the Leadership team
✓A handover period has been put
into effect to enable personnel new
to the roles to obtain coaching and
mentoring from previous holder of
the role. (New manager in position
at the care home in Burnley)
✓Succession Planning implemented
in relation to the management of
the care homes in Blackburn and
Burnley (see above)		 Low Monitor &
Maintain
existing
controls
Reporting to
Trustees		 •Inadequate
information resulting
in poor quality
decision making
•Failure of Trustees
to fulfil their control
functions
•Trustee body
becomes remote &
ill informed		 ✓Trustees are also the individuals on
the Leadership team
✓Decision-making is via consultation
and communication with feedback
mechanisms enabled to ensure
information is provided to all
relevant parties
✓‘Zonal’ teams established to an
extent who will provide minutes for
consideration at Leadership Team
meetings. Informal mechanisms in
position with regional support
available		 Low Monitor &
Maintain
existing
controls

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Risk Register - Operational Risks Risk Register - Operational Risks
This is the
risk area /
topic		 These are the
potential impacts
on the organisation		 This is how we are currently
reducing the risk		 Priority This is what
we need to do
to further
reduce the
risk
Contract Risk •Contract has
onerous terms and
conditions
•Contract has
penalties for non-
performance
• Contract does not
comply with the
organisation’s
objectives		 ✓The organisation has limited
contracts in position. Compliance
with Lancashire County Council
contract achieved
✓The established strategic plan will
be subject to an on-going
consideration with a formal ‘mid-
term’ review to ensure that any
issues identified are addressed
✓ Level of contracts felt to be minimal
with review of any large building
projects at sites outsourced and
reviewed by a surveyor prior to
commencement		 Low Monitor &
Maintain
existing
controls
Customer /
client
dissatisfaction		 •Complaints are
made by
beneficiaries
•Income is lost
•Loss of significant
contracts
•Claims for
negligence
•Damage to
reputation		 ✓Staff complaints procedure in place
for raising of any issues
✓If required legal assistance would
be obtained to address any
disputes
✓No liability claims in recent years
✓Diocese would deal with any
concerns in respect of reputational
risk – Safeguarding issues
addressed via internal policy plus
membership of 2 bodies – Catholic
Safeguarding Standards Agency
(C.S.S.A.) and Religious Life
Safeguarding Service (R.L.S.S).
Internal personnel identified as
Safeguarding Leads		 Low Monitor &
Maintain
existing
controls
Lack of
project or
service
development		 •Lack of compatibility
with objectives &
strategies
•Loss of financial
support
•Loss of relevant
skills required for the
project or service		 ✓Projects in Kenya receive
percentage of funding from Irish
Aid (Overseas Development Fund)
through Misean Cara
✓Member Managed Grants process
being introduced & Organisational
Capacity assessment undertaken
✓On-going reviews with provision of
feedback across all operational
areas to ensure awareness of
situation and any action required.
Projects established for a 3-year
period		 Medium Development of
internal
procedures to
address revised
requirements of
Misean Cara.
Further training
to be undertaken
once all changes
to process
confirmed and
coverage with
managers via
Project Lead for
the organisation

14

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Risk Register - Operational Risks - Continued Risk Register - Operational Risks - Continued Risk Register - Operational Risks - Continued
This is the
risk area /
topic		 These are the
potential impacts
on the
organisation		 This is how we are currently
reducing the risk		 Priority This is what
we need to
do to further
reduce the
risk
Dependency on
key supplier		 •Loss of objectives
if key supplier is
not there
•Lack of buying
power by the
organisation		 ✓Use of surveyor for projects with
established supplier relationships
✓Organisation does not have one key
supplier. Voluntary contribution to
Misean Cara on an annual basis
✓ Use of an energy broker to obtain
best deal in conjunction with other
organisations in Catholic dioceses in
England. (Inter Diocesan Fuel
Management)
✓ Organisation is financially
independent and holds monthly
meetings with external financial
advisers to enable operational
activities to be maintained
Low		 Monitor &
Maintain
existing
controls
Building &
resource
capacity
unused		 •Underutilised or
lack of building
space
•Mismatch of staff
allocations		 ✓Head Office is a residential
premises but space available within
for meetings and office work as
required
✓Hybrid working able to be
undertaken by personnel who
operate at Head Office
✓2 care home buildings – 1 is
rented, the other is owned
✓Head Office premises are owned
by the organisation
✓Reduced number of staff at Burnley
care home due to de-
commissioning from the Care
Quality Commission to ensure
optimum use of resource capacity		 Low Monitor &
Maintain
existing
controls
Security of
assets /
information		 •Assets are lost or
damaged
•Assets are stolen		 ✓Insurance policy with coverage of
relevant aspects reviewed annually
✓Organisation registered with
Information Commissioners Office
(I.C.O.)
✓GDPR policy and procedures in
position
✓Use of external organisation
(‘Carbonite’) in relation to
information storage in ‘the cloud’
✓Retrieval of information from in ‘the
cloud’ achieved successfully		 Medium GDPR policy
for the
organisation to
be reviewed
and
communicated
Data
Protection
training to be
considered for
personnel at
the care
homes
Asset Register
to be reviewed
to ensure
coverage of all
relevant
requirements

15

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Risk Register - Operational Risks - Continued Risk Register - Operational Risks - Continued Risk Register - Operational Risks - Continued
This is the
risk area /
topic		 These are the
potential impacts
on the
organisation		 This is how we are currently
reducing the risk		 Priority This is what
we need to do
to further
reduce the
risk
Cyber Security •Potential Data
Breach
•Fine via I.C.O.
•Reputational risk
due to identified
issue & associated
publicity
•Malware &
Ransomware
affecting data held
by the organisation		 ✓Senior Personnel attend Workshops
covering relevant issues
✓Attendance at specific Cyber
Security workshops
✓Increased level of awareness of
relevant personnel within the
organisation		 Medium Establish Cyber
Security Policy
Conduct review
of protocols
related to I T
systems to
ensure coverage
Discussion with
insurance
personnel in
respect of
requirements
related to
coverage of
Cyber Security
risk
Employment
Issues		 •Disputes amongst
staff
•Non-compliance
with employment
law / health &
safety law
•Claims for unfair
dismissal etc
•Perceived lack of
equal opportunities
•Lack of staff
awareness &
training
• Low Morale		 ✓External consultancy support used
for Health & Safety
✓Legal support provision available via
the insurance company used by the
organisation. (Coverage of Human
Resource issues)
✓Equal Opportunities Policy in
position
✓Care staff – mandatory training
organised by the Care Home
Managers
✓Regular visits to operational care
facilities undertaken by
Congregational Leader
✓Regular supervisions and appraisals
conducted by the respective Care
Home Managers

Low		 Conduct review
of Equal
Opportunities
Policy
High turnover
of staff		 •Loss of specialist
skills & experience
•Increase in
recruitment costs.
•Increase in training
costs
•Decrease in
morale		 ✓Staff recruitment is the responsibility
of the Care Home Managers in
Blackburn and Burnley respectively
✓Staffing needs are identified to the
Bursar for authorisation of
recruitment. Current example of
consideration of Deputy Manager
position at the Burnley Care Home
✓Use of agency personnel on
occasions to address requirements
✓Training needs reviewed and
addressed across the organisation
by leadership team & Project Co-
ordinators through consultation with
relevant personnel		 Low Monitor &
Maintain
existing
controls

16

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Risk Register - Operational Risks - Continued Risk Register - Operational Risks - Continued Risk Register - Operational Risks - Continued
This is the
risk area /
topic		 These are the
potential impacts
on the
organisation		 This is how we are currently
reducing the risk		 Priority This is what
we need to do
to further
reduce the
risk
Health and
safety
compliance		 •Injuries to staff,
volunteers &
members of the
public
•Damage to
reputation
•Increased
insurance
premiums
• Loss of services
through lack of
personnel
• Loss of services
through
enforcement
action		 ✓Use of external consultancy to
provide support and guidance
✓No incidents or accidents in recent
years
✓Fire risk assessments conducted at
each care home on an annual basis
with recommendations. Fire officer
visits to both care homes undertaken
during course of 2023-24 with
minimal recommendations
✓Policy and procedures subject to
regular reviews and updating
✓ Mandatory training requirements
established and monitored by the
Care Home Manager – training
matrices inposition
Low		 Monitor &
Maintain
existing
controls
Business
continuity		 •Lack of access to
the premises
• Loss of
information &
communication
systems
• Loss of personnel
in a key job role		 ✓Organisational business continuity
plan in position
✓Each care home has a business
continuity plan related to their
specific operations and activities
✓Back-up of information via ‘the cloud’
✓Key personnel considered both
internally & externally
Medium		 Review Business
Continuity Plans
across the
organisation
covering Head
Office operations
and the two care
homes.
Consideration to
be given to loss
of key personnel
within the plans
due to reduced
staffing levels at
Burnley.
Procedures &
systems		 •Lack of awareness
of procedures &
systems
•Authority not
sought for major
decisions
•Poor information
technology
systems		 ✓Any major decision would be subject
to the obtaining of agreement and
authority being obtained from the
leadership team before it could
proceed
✓Procedures and systems reviewed
by external auditors annually
✓Bursar, her support assistant & the
Congregational Leader attend IT
awareness re security as and when
possible
✓Support provided from external
source in respect of I T systems
✓Zonal Bursar(s) are responsible for
maintenance of the systems &
procedures related to projects and
services
✓Information stored in ‘the cloud’ for
ease of retrieval
Medium		 Mentoring of
Congregational
Bursar in
relation to
Procedures
and Systems
to ensure
awareness of
requirements
Service Level
Agreement from
external I T
support to be
obtained
detailing
timescale for
restoration of
systems
Cyber Security
Policy &
Procedures to be
developed and
implemented

17

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Risk Risk Register - Financial Risks Register - Financial Risks
This is the
risk area /
topic		 These are the
potential impacts
on the
organisation		 This is how we are currently
reducing the risk		 Priority This is what
we need to do
to further
reduce the
risk
Control of
budgets		 •Budget does not
match
organisational
objectives
•Poor credit control		 ✓Regular financial report provided at
Trustees meetings
✓Identification of any financial issues
raised & discussed
✓Annual budget established and
monitored
✓Involvement of external accountancy
organisation to assist with financial
planning & reviews
✓Quarterly review of projected income
and expenditure against‘actual’

Low		 Monitor &
Maintain
existing
controls
Cash flow •Inability to meet
commitments
•Impact on
operational
activities		 ✓Income and expenditure subject to
regular review both internally and
with external accountants
✓Production of quarterly accounts in
conjunction with external
accountancy organisation
✓Quarterly accounts review budget
established and variance and
determines any action required.		 Low Monitor &
Maintain
existing
controls
Dependencies on
income sources
•Loss of income		 ✓Investment committee with
involvement of an external fund
manager who provides advice and
guidance
✓Spread of investments and ethical
investing policy followed with aim of
minimisingrisk		 Low Monitor &
Maintain
existing
controls
Investment •Financial loss
through
inappropriate
investment
•Unforeseen
investment
conditions
•Cash flow
difficulties		 ✓Monthly investment committee
meeting
✓Investments and financial guidance
audited annually by independent
auditors
✓Investment committee aims to
maximise income & ensure
maintenance of operations across
the organisation
✓New members of personnel
appointed to the investment
committee provided with informal
guidance by external fund manager		 Low Monitor &
Maintain
existing
controls
Financial
guidelines		 •Enforcement
action
•Reputational
damage		 ✓Accounts are submitted to the
charity commission.
✓Accounts submitted to Companies
House
✓Processes in position – i.e.,
investment committee and external
accountancy involvement ensure
management of risk from a
reputational and enforcement
action perspective
✓Accounts of organisation subject to
independent audit annually		 Low Monitor &
Maintain
existing
controls

18

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Risk Register - Financial Risks - Continued Risk Register - Financial Risks - Continued
This is the
risk area /
topic		 These are the
potential impacts
on the
organisation		 This is how we are currently
reducing the risk		 Priority This is what
we need to do
to further
reduce the
risk
Fraud or error •Enforcement
action
•Reputational
damage		 ✓Procedures in position to ensure
fraud or error cannot occur
✓Checking of information by
personnel involved and any issues
would be raised
✓Independent audit conducted of the
accounts of the organisation
✓Double signature requirement in
position related to withdrawal of
funds
✓Limit established on debit cards
issued to individuals.
✓Limit established of £1000 per
cheque with two signatories
required for cheques in excess of
£1000		 Low Monitor &
Maintain
existing
controls

Conflict of Interest

In order to follow best practice, the Charity requires a register of interests to be compiled and maintained by the Trustees on an ongoing basis. The table below records the potential conflicts of interest where one of the Trustees of The Franciscan Missionaries of St. Joseph is also a Trustee of other Charities.

Sister Maureen Murphy (completed her term of office on 9 October 2023)

Date of Entry
on Register		 Description of Potential Conflict of Interest
January 2014 Trustee of Christian Council on Ageing

Public Benefit

The Charity Commission now requires charities to make a statement in their Trustees Report about the benefit they provide to the public. We welcome this opportunity to highlight our work because all our ministries are people centred and this applies both at home and overseas. A detailed list of our ministries is given under the section heading Social and Pastoral Work on page 21. In addition to these various works our Sisters strive in their daily living and contact with people to provide a listening ear, kindness and practical help in the form of food and clothing to the many people who come knocking on our doors, a situation which is becoming more frequent as government help decreases and more people need support.

We welcome into our homes those who wish to join our communities for prayer and who seek spiritual help and guidance. Many such people are unable to afford to pay for professional help and they welcome the opportunity to share problems and seek solutions through counselling or spiritual direction given by our Sisters.

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Whilst much of our charitable work is highly visible there are also immeasurable benefits to the public which derive from our ministry of prayer. We receive prayer requests from all over the world through our website and people greatly value this service.

Our elderly and infirm Sisters remain fully engaged in this ministry long after they become frail and physically disabled and they therefore continue to contribute to the well being of those around them.

Activities and specific objectives

As stated above under ‘Mission’ the activities of the Charity can be divided into 4 principal areas:-

1 . Caring for Members of the Congregation

In common with many other religious congregations, the age profile of the Sisters in the Congregation is increasing as existing members grow older and there are fewer religious vocations except in our Kenya Region. The age profile is shown below.

----- Start of picture text -----
Age Profile
as at 31 December 2023
35
30
25 29 29
20
15
15
10
5 9 8
6
0
80 & Over 70-79 60-69 50-59 30-49 Under 30
----- End of picture text -----

The Congregation has an obligation, both legal and moral, to care for its members, none of whom have resources of their own and all of whom have devoted many years of their lives to the care of the elderly, poor and marginalized of our society. As the age profile of the Congregation increases so too does the need to provide increasing and increasingly expensive care to the Sisters. At the year end date, 11 Sisters were cared for in our two Care Homes. It remains the aim of the Trustees to:

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

2. Social and Pastoral Work

The following are examples of social and pastoral work undertaken by individual Sisters who play an important role in local communities.

The aims of Trustees in this area include:

3. Care Homes

The Charity operates two registered Care Homes for the elderly. The philosophy of care in both homes aims to provide the residents with a secure, relaxed and homely environment in which their care, well being and comfort are of prime importance.

The mission of the Franciscan Missionaries of St Joseph flows from our belief in the sanctity of life and the dignity of the human person. We believe every person is created in the image of God and has an equal right to our respect, care and love.

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Our Franciscan ethos is the value base of our holistic care expressed in meeting the physical, spiritual, social and psychological needs of our older, sick and infirm Sisters. We provide this care in collaboration with our co-workers, sharing in the mission of Christ. “I have come that you may have life and have it abundantly” (John 10:10)

Franciscan Convent, Blackburn

There are thirteen registered rooms, several of which have en-suite facilities. There is also another floor that is not registered and which is used for the Sisters living in the convent but not requiring care. The Home provides care for both our own Sisters and for female members of the general public. The Home has its own chapel, which is open to visitors, and large grounds. The last Care Quality Commission Inspection which took place in January 2020 stated that the residents told us “they felt very safe and well cared for in the home and the staff were always kind, caring and respectful of their dignity and privacy”.

In February 2021 The Care Quality Commission (CQC) undertook a targeted inspection looking at the infection control and prevention measures in place. Their findings stated, among other points, were that “we were assured the provider was promoting safety through the layout and hygiene practices of the premises” and “we were assured the provider was making sure infection outbreaks could be effectively prevented or managed”.

The residents are taken out for leisure pursuits. For Christmas shopping, to the town centre and Christmas outing.

Residents are out for 2023 Christmas Shopping

Some of the residents were also able to share in the 100[th] birthday celebrations of one of their own.

Sister Rosina enjoys baking even in her retirement. She is baking a cake for the residents of the home.

Sisters out for 2023 Christmas Outing

An event with Daniel O’Donnell

22

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

HEALTHWATCH Blackburn with Darwen, conducted an announced Enter and View visit on 3 May 2022. This was undertaken by authorised representatives from Healthwatch Blackburn with Darwen who have the authority to enter health and social care premises, announced or unannounced, to observe and assess the nature and quality of services and obtain the view of those people using the services.

In the Summary of their report the following observations were made:

The Franciscan Convent represents a true community environment with members of the order and the wider community living together in a very caring environment. The grounds and the building are spacious, well maintained and homely with opportunities for faith-based activities if chosen. Both staff and residents (who were not Sisters) told us that they felt comfortable in the environment “I am not religious at all, but this does not matter, there is no pressure to be involved.”

The staff to resident ratio is very favourable and staff were generally long serving, facilitating a high level of person-centred provision. This was perhaps captured best by a relative who told us. “The best thing is staff spend time with her even if there are no actual care needs at the time, I don’t think she would get that anywhere else no matter how much you pay.”

Karen the daughter of one of the residents writes “Thank you from the bottom of my heart for all the brilliant care and attention given to my mum in the past months. I wouldn’t have wanted her anywhere else than here. You have all been outstanding”.

Franciscan Convent, Burnley

The Home has sixteen beds including three which are specifically for those suffering from dementia. Having deregistered, care is provided only for Sisters of the Congregation at the present time. Care could be extended to Sisters of other Congregations in the future although this would require CQC re-registration. The Home has its own chapel, spacious lounges and a library. Its town centre location means that it is easily accessible and ensures that the Residents can avail themselves of local facilities and amenities.

In February 2023 the Manager carried out a Quality Assurance Questionnaire for the Sisters.

Sister Maria who was on respite care following knee surgery responded as follows:

Sister Sarah with one of the staff

“The staff seem to have the ability to discern my needs and supported my efforts to get back on my feet. With great support, encouragement and challenge I was making steady progress which I certainly could not have done without their invaluable help, kindness and compassion.”

23

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

In running these two Homes the Trustees aim to provide excellent residential care, ensuring that Residents needs are fully met and that they enjoy as high a quality of life as possible. Both homes are regularly inspected and any indication of failure or shortcomings is immediately addressed and corrected.

4. Overseas Missionary Work

The Congregation has Sisters working overseas in Kenya, Uganda, Ecuador and Ireland. The one Sister in the USA is has now retired but still engages in voluntary work. There are also two Sisters living in retirement in The Netherlands. A tremendous need continues for ministry overseas and the Sisters are engaged in many medical, pastoral, education, social work and catechetical apostolates particularly among the poor.

The increased number of Sisters in Kenya has enabled our work there to expand and to respond to further unmet local needs. In promoting Christian values in their mission of evangelisation the Sisters endeavour to encourage confidence in the local people in order to help them to become self sufficient and to undertake leadership roles. We aim to continue to expand our work as needs arise.

In December 2020 our Kenyan Sisters took over the management of St Vincent de Paul Mission hospital from the Sisters of Mercy. The hospital is in Muhoroni which is an outlying, rural area, of Kisumu diocese. The Sisters of Mercy asked our Sisters to take over the running of the hospital as they no longer had the personnel. The hospital offers a much needed service to the local community, comprising inpatient and outpatient care, maternity services, a mortuary, an x-ray department and a pathology laboratory.

The novitiate in Nairobi continues to thrive and £14,000 per year is transferred each year from the UK to fund Kenya formation programmes. It is the aim of the Trustees to continue this funding for as long as possible.

Protection of Children and Vulnerable Adults

The Trustees recognise the need to ensure the protection and safety of all those the Charity serves. This means that all Sisters who are in any kind of ministry in Great Britain have to obtain clearance from the Disclosure and Barring Service (DBS). The same applies to all staff and volunteers. The Trustees are committed to the implementation of all policies and procedures of the Catholic Safeguarding Standards Agency.

24

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Achievements and Performance – Review of activities

We now describe the main achievements during the year in each of our principal activities.

1. Care of the Members of the Congregation

Throughout the year the Charity continued to assist the Sisters of the Congregation in their charitable and religious work. Eleven Sisters were cared for in the Charity’s own care homes and the Charity enabled other Sisters to work and volunteer in their chosen ministries.

The 2023 General Chapter finalised the review and evaluation of the Congregation which was started at the 2017 General Chapter. The plans with regard to reorganising and restructuring the governance of the Congregation to make it more applicable to our present reality have been substantially formulated. Our final proposals will require the approval of Vatican authority.

2. Social and Pastoral Work

Throughout the year Sisters continued to carry out various social and pastoral ministries and to play an invaluable role in local communities through their work. We continue to expand our ministries in response to local need and large numbers of people benefit from our work both in the UK and in all overseas missions. We describe the work of two of our sisters to illustrate some of our charitable activities.

a) Sister Faith Mwongeli

Sister Faith Mumo Mwongeli is based in Kisumu, Kenya. She joined the congregation in the year 2019 and made her first profession in December 2022. She oversees a project called SCORE ECD (Strengthening Capacity of Religious women in Early Childhood Development) which is run under Kisumu Urban Apostolate Programmes (KUAP). She began working on this project in January 2023. Discovering her skill and learning more about community diversity and nurturing care has been an amazing experience for her. She has since been trained as a Master Trainer working alongside Mr. Dan Okello a nutritionist who is also a master trainer since January 2017. Both Sr. Faith and Dan work hand in hand with 15 Care Group Volunteers and 5 Community Health Volunteers

----- Start of picture text -----
Sister Faith
----- End of picture text -----

25

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

KUAP SCORE ECD PROJECT

SCORE ECD (Strengthening Capacity of Religious women in Early Childhood Development) works to support children's overall development, with support from the Conrad N. Hilton Foundation, in four African countries—Kenya, Malawi, Zambia and Ghana—and is supervised by Catholic Relief Services and Association of Sisterhoods of Kenya.

The initiative run by Sister Faith began in the year 2017 and focuses on children with diverse vulnerabilities within the age brackets of zero to five (0-5) years with a focus on children 0-3 years as the first 1000 days of life are very vital in the development of a person. Some of the children are disabled and/or infected/affected with HIV/AIDS. The project targets caregivers with children aged 0 to 3 years, including pregnant and nursing mothers.

Three methodologies are employed in the project:

Franciscan Missionaries of St. Joseph takes into consideration the family tree's origins, and the SMART couple technique enhances it. With an emphasis on enhancing organizational capacity and sustainability as well as the technical capability in Early Childhood Development, SCORE ECD strengthens the institutional capacity of beneficiaries. As FMSJs, we take full responsibility for ECD interventions in our local areas of Kisumu and step-up lobbying to have a national and local impact on ECD policy. This is to encourage children under three to flourish in a culture of sustained care and support as this is the overarching objective of SCORE ECD.

As the master trainer, Sr. Faith is dedicated to the programme and feels like she has gotten a lot of knowledge and community empowerment from it. Kisumu East Sub County in Kisumu County has seen significant transformation because of the initiative, which has had a significant influence on the community.

The following are activities that were done in the year 2023.

26

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

----- Start of picture text -----
Care givers during ‘malezi bora’ in Kisumu A male Champion with his son – a
east Sub County Manyatta community beneficiary of ECD messages
----- End of picture text -----

iv. Functional referral system to health facilities. A total of 20 client were referred by the Community Group Volunteers (CGVs) and community health volunteers (CHVs) and master trainers. The referral cases are malnourished and sick children, antenatal cases defaulters, diabetic and hypertensive cases. Other referrals are to social support services and livelihood support, some for medication and for gender-based violence support.

----- Start of picture text -----
Sister Faith a Master trainer conducting
mentorship sessions with Community
Health Volunteers in Kisumu
----- End of picture text -----

Successes

27

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

----- Start of picture text -----
A Kenya Television Network journalist
interviews Score ECD caregiver in
front of KUAP ECD space Kisumu
----- End of picture text -----

empowered by score ECD and their services in the community and she encouraged all the caregivers especially men to embrace change especially in matters concerning child welfare. ii. There is an acknowledgement on how children can freely interact with other children and play together thus practicing sharing and mind development.

----- Start of picture text -----
Children playing inside and outside the ECD spaces at Kuoyo
----- End of picture text -----

Challenges

b) Sister Christabel Shitsukane

Sister Christabel Shitsukane made her first profession in the year 2010. She is a trained Early Childhood Development Teacher registered by Teachers Service Commission in Kenya. She has worked in Malindi Diocese of Kenya as the Head Teacher of Amani Academy for 8 years, in St. Michael Nursery school in Panyangara in Kotido Diocese, Uganda for 2 and a half years and worked as the administrative officer in the development office of Kisii Catholic Diocese for 2 years. She took over St. Clare School, Kailer in Marigat, Baringo County as the Administrator in May 2023, which is benefiting from her vast experience in teaching and management.

----- Start of picture text -----
Sister Christabel
Shitsukane
----- End of picture text -----

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

St. Clare Catholic School Kailer

St. Clare Catholic School Kailer is situated in Kailer Village, Marigat Town, Baringo County, in the Rift Valley area of Kenya. The school is situated 20 kilometers from Marigat town in the settlement of Children at St. Clare Catholic School Kailer Kailer. The community voiced their desire for their children to attend a school run by the Franciscan Missionaries of St. Joseph. The FMSJs who are mostly known as Mill Hill Sisters in Kenya have a track record in being exemplary in providing education health services and social services to those left behind in our society. The community offered Land to the sisters in the year 2020, as a thank you for their excellent and well-respected work in the region and sked if a school could begin for their children who have to walk many kilometers to attend government schools in the area. This led to the establishment of the school in the same year.

The school serves the less fortunate groups in the community who still find it difficult to support their children with scholastic, nutrition, social and security needs. We now have 129 leaners (61 females and 68 male) enrolled in pre-primary to grade 5. Eight teachers and one support staff member work at the school (6 are female while 3 are male). For two years in kindergarten, we prepare young children for primary school. Twenty of the 24 children in the previous cohort graduated from our kindergarten and are currently enrolled in first grade.

Even though the place is very dry and semi-arid, teachers and pupils involve themselves in tree planting exercise whenever possible and each child in grade 3, 4 and 5 has a tree to take care of. They water the trees in the morning when they come and, in the evening before they leave for home whenever we have water in school.

As the schools headteacher, Sister Christabel has said that. “I'm thrilled to observe how delighted the learners are when we review, correct and affirm their work. The learners are inspired to work hard, and their self-esteem is raised as a result. Also, the interclass singing competition takes place every Wednesday at 3:10 p.m. whereby children congregate for singing and entertainment. Individuals or planned groups showcase various items, including songs, poetry, skits, dances among others. Whenever feasible, we try to visit our learners at their homes on occasion, especially around the holidays and anytime we observe a situation that is of concern”.

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The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Pupils at St. Clare Catholic School Kailer

----- Start of picture text -----
Pupils at St. Clare Catholic School
plant trees at the school during the
second term of 2024
----- End of picture text -----

----- Start of picture text -----
Pupils in Grade 2 presenting their class
work to Sr. Christabel (FMSJ) at St.
Clare Catholic School
----- End of picture text -----

----- Start of picture text -----
Pupils at Alice Ingham Catholic School Pupils at St. Clare Catholic School
engaged in sports in the school participating in interclass singing
competition
----- End of picture text -----

Sister Christabel says the school is faced by the following challenges:

30

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

3. Care Homes

Franciscan Convent, Blackburn

The quality of care provided in the Home is constantly monitored by the Trustees and the Home receives good reports from the Care Quality Commission. The care was recognised by Blackburn with Darwen Social Services and the Home was invited to be part of its Quality Assurance Scheme. All staff have recognised NVQ qualifications and many are now working to attain higher grades.

Franciscan Convent, Burnley

This home is also constantly monitored by the Trustees with frequent reports given by the House Manager. It is well staffed by dedicated and qualified workers and an internal quality assurance scheme monitors the standard of care achieved

The home is used by the Congregation for UK gatherings of the Sisters so that the more frail Sisters who live there, and would otherwise be unable to travel, can still attend.

4. Overseas Missionary Work

A tremendous need continues for ministry overseas and the Sisters are engaged in many medical, pastoral, educational, social work and catechetical apostolates particularly among the poor. We have been able to expand our ministries in Kenya and particularly working with Street Children, widows and orphans of AIDS victims as well as AIDS patients in our clinics and home-based care programmes. The Sisters also manage a home for physically disabled children who are stigmatised and ostracised in the society and culture.

Our numbers continue to expand in Kenya and Uganda and we are now in eleven different areas of Kenya and one area in northern Uganda. Our houses are mostly in remote areas where our work includes health care, educational services, children's services, pastoral and social work with people who live in the poorest of circumstances.

In 2011 four of our Sisters opened a new mission in northern Uganda, among the Karamojong people. This is a very remote and neglected area of the country where access to maternal and child health care as well as to education is very limited. Our Sisters are making a difference to the quality of lives of the people. One Sister who is a qualified nursery school teacher runs the nursery school, another is working pastorally among the people and a third is running a bakery project jointly with the Mill Hill Missionaries.

The mission in Witu located in Malindi Diocese has established a school for children who would otherwise not be educated. At the beginning of May 2013 we closed our house in Nyabururu, in Kisii diocese, and opened a new house in Nyamira which is in a more remote and needy area of Kisii diocese.

31

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

At the end of November 2020 the Africa Region took on the management of St. Vincent's Mission Hospital in Muhoroni which is in a rural area of Kisumu diocese in western Kenya. This will be our second house in Kisumu diocese. The hospital was started and developed by the Sisters of the Institute of Our Lady of Mercy who approached our Congregation to take over the management of the hospital as they no longer have the personnel. This hospital offers a much needed service to the local community comprising inpatient and outpatient care, maternity services, a mortuary, an x-ray department and pathology laboratory. We are very grateful for this opportunity to expand our work for the benefit of the people in this area.

In Quito, Ecuador, one of our Sisters who started a counselling service for priests and religious in the city in 2008 is now working full time and providing a much needed service which also includes an increasing number of lay people among the clients. She also responds to requests from Religious Communities for workshops with a psycho-spiritual focus and also helps to run courses on Safeguarding. Santa Clara house in Quito closed in late December 2018. Santa Clara was one of our two houses in Quito. Apart from the one remaining house in Quito we also have a house in Puerto Quito in the coastal region of Ecuador where the Sisters are engaged in parish work, catechetics and healthcare for the disabled.

5. Investment Policy

The Trust Deed dated 27th December 1963 does not specify investment powers and the 1961 Trustee Investment Act therefore applied.

Under a scheme of the Charity Commissioners dated 29th August 1996 the Trustees were granted wider powers of investment with an 85%:15% split between wider and narrower range investments.

The Trustee Act 2000 superseded this scheme and investments are now regulated by the Trustee Act 2000.

The Charity’s Investments are managed by Amber River True Bearing of Chorley, Lancashire. The investment strategy is set by the Trustees and takes into account income requirements in the short, medium and long term. An investment committee comprising of two Trustees, two Sisters of the Congregation and professional advisers meets monthly to review our investments. The aim is to provide income and capital growth to fund existing and future apostolates of the Congregation, both in the UK and overseas. Funds are also required for initial and on-going training programmes and for the costs of caring for our sick, elderly and incapacitated Sisters.

The policy is to maximise total return through a diversified portfolio and a level of income determined by the Trustees. We also endeavour to invest in socially responsible funds consistent with a Roman Catholic ethos in order to avoid investing in organisations or areas which have policies inconsistent with social justice.

Our ethical considerations will always take into account the requirement for security and the need to provide an acceptable investment performance but we are mindful of Christian teaching and endeavour to avoid investment in activities contrary to our beliefs.

32

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Investment Performance

The conflict in Ukraine has brought both poor performance for our Mill Hill investments and inflation at rates not seen for more than 40 years. This high level of inflation impacts all areas and in particular has made the operation of our care homes very much more expensive. Investments were made in accordance with the Trustees Investment Policy referred to earlier in this report and in compliance with ethical guidelines.

Financial Review

Results for the Year

During 2023 total incoming resources amounted to £783,306 (2022 £723,571). Of the incoming resources, a total of £108,388 (2022 £100,918) related to fees receivable and other income of the Charity’s two care homes. £583,558 (2022 £580,533) was received by way of donations and legacies. This figure includes salaries and pensions of the Sisters amounting to £390,028 (2022 £457,864) covenanted to the Charity. Investment income and interest receivable totalled £20,317 (2022 £6,953) of which £19,468 (2022 £6,689) relates to designated funds.

Resources expended totalled £1,603,528 (2022 £1,483,940). The total expenditure on the Charity’s two care homes amounted to £1,134,769 (2022 £1,086,305). Total staff costs represent a very significant proportion of expenditure and amounted to £848,812 (2022 £805,249).

Expenditure incurred on maintaining the members of the Congregation and supporting them in their pastoral work and ministry amounted to £180,828 (2022 £149,567). Expenditure on governance costs and the fees paid to the Charity’s investment managers including fees paid to investment platforms during the year amounted to £55,859 (2022 £56,449).

Net outgoing resources for the year, were then £820,222 (2022 £760,369). Investment gains (2022 losses) of £293,162 (2022 (£903,733)) resulted in a net outflow of funds for the year of £527,060 (2022 £1,664,102).

Reserves Policy and Financial Position

Reserves Policy

The reader will discern from the foregoing that the Charity carries out a diverse range of activities and is responsible for care and support of Sisters whose average age is increasing and whose needs are changing. The Trustees have examined the need for free reserves i.e. those unrestricted funds not invested in tangible fixed assets, designated for specific purposes or otherwise committed and endeavour to balance the need for such free reserves with the desire to more fully fund the reserves needed to support Sisters in their retirement.

33

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Such free reserves are needed to support the work of the Sisters in the future, in particular the support of the Congregation’s missionary and healthcare work overseas. There has not been a release from the Maintenance of Retired Sisters Reserve in the year and a release of £20,000 was made in 2022 to maintain the level of such free reserves.

Financial Position

The balance sheet shows total reserves of £4,688,099 (2022 £5,215,159). Of this, £1,342,311 (2022 £1,373,060) is represented by properties and other tangible fixed assets essential for the support and work of the Sisters.

The funds set aside to provide for the Sisters in their retirement, none of whom have resources of their own, have been reassessed during the year. The calculation, based on actuarial methods, indicated that £8.08M (2022 £7.56M) is needed to be set aside in order to provide a minimum pension. A minimum pension was set at £5,000 in 2003 and is rebased for inflation thereafter. In these accounts £1.28M (2022 £1.28M) has been set aside for this purpose. These funds embrace and are supplemented by the Mill Hill Pension Fund, a designated fund for the maintenance of retired Sisters created from donations by the Mill Hill Society primarily for that purpose and amounting to £3,278,983 (2022 £3,766,946) at the year end date. In addition, there are investments and monies in bank deposit accounts held within the United States of America and Ireland Regions totalling £818,235 (2022 £804,189) and £683,829 (2022 £570,338) respectively which are held for the future maintenance of retired Sisters.

The Ecuadorian Retirement Fund is held in a UK deposit account. It is intended that these monies will be set aside in their own dedicated bank deposit account now that rates have returned to normal. The monies representing the Ecuadorian Retirement Fund amounted to £98,034 (2022 £88,312).

Many of the difficulties relating to the Coronavirus (Covid-19) pandemic have now eased and The Order has not suffered any marked structural impact from the Coronavirus (Covid-19) pandemic. The conflict in Ukraine led to very high inflation - to levels not seen for more than 40 years - which in turn forced central banks worldwide to raise interest rates to try to bring down the level of inflation. This has brought the unprecedented low interest rates, which persisted for more than 15 years to an end. As inflationary pressures ease it is anticipated that the significant increases in costs maintaining our retired Sisters will lessen.

The Trustees hope that, in the medium to long term, investment markets will continue to improve and that they will be able to designate more funds to the Sisters’ retirement fund. The calculations show clearly that this is a prudent and sensible policy.

34

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

Future Plans

The Trustees do not anticipate any significant change to the Charity or its activities in the coming year. It is our intention to continue to meet the following objectives:

The restrictions and difficulties experienced by The Order relating to the Coronavirus (Covid-19) pandemic have now substantially passed. The Order has not suffered any marked structural impact from the Coronavirus (Covid-19) pandemic and we are pleased to report that our Sisters have been able to resume their in person ministries. While the impact of the Coronavirus (Covid19) pandemic has abated, the conflict in Ukraine has raised new and challenging problems.

The conflict in Ukraine brought initially poor performance for our Mill Hill investments although these have since recovered and inflation at rates not seen for more than 40 years. The high level of inflation impacts all areas and in particular has made the operation of our care homes very much more expensive. We are confident that the financial pressures stemming from the conflict can be weathered however we remain vigilant both in measuring these inflationary costs and planning for the future accordingly.

To control inflation central banks worldwide were forced to raise interest rates. This brought the unprecedented low interest rates, which persisted for more than 15 years to an end. As inflationary pressures ease it is anticipated that the significant increases in costs maintaining our retired Sisters will lessen.

35

The Franciscan Missionaries of St. Joseph

Report of the Trustees

For the Year Ended 31 December 2023

The Trustees are of the opinion that the financial position is such that we will be able to continue to meet our future planned objectives with no significant change in our operations or activities for the next two years and indeed for the foreseeable future notwithstanding the adverse impact of the conflict in Ukraine on both inflation and on our financial investments.

At our General Chapter in June 2023 the Congregation completed a process of restructuring including changes to our constitutions to make them more applicable to our present reality. Our final proposals will only be implemented when we receive approval from Vatican authority.

Employees, Advisors and Members of the Congregation

The Trustees wish to record their recognition and gratitude to all their staff, professional advisors and individual Sisters of the Congregation for their dedication and commitment to the works of the Congregation throughout the year.

The Trustees in particular wish to thank Sister Maureen Murphy who completed her term as a Trustee at the 2023 General Chapter. Sister Maureen has held senior roles in The Order for more than 30 years and her contribution and leadership have provided stability and reassurance. Sister Maureen now engages in more pastoral ministries and the Trustees wish her well as she starts new challenges.

Approved by the Trustees on 9[th] September 2024 and signed on their behalf by:

……………………………………………… Sister Anne Moore Trustee and Congregational Leader ……………………………………………… Sister Ann Jentrix Murundu Trustee and Congregational Bursar Registered Charity Number 1135474

36

Independent Auditor's Report to the Members of

The Franciscan Missionaries of St. Joseph

For the Year Ended 31 December 2023

Opinion

We have audited the accounts of Franciscan Missionaries of St Joseph for the year ended 31 December 2023 set out on pages 1 to 66. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

37

Independent Auditor's Report to the Members of

The Franciscan Missionaries of St. Joseph

For the Year Ended 31 December 2023 - Continued

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees' are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 require us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control, as the trustees determine is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error. In preparing, the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

38

Independent Auditor's Report to the Members of

For the Year Ended 31 December 2023 - Continued

The Franciscan Missionaries of St. Joseph

Auditor's responsibilities for the audit of the financial statements - Continued

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' 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 (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

39

Independent Auditor's Report to the Members of

The Franciscan Missionaries of St. Joseph

For the Year Ended 31 December 2023 - Continued

Extent to which the audit was considered capable of detecting irregularities, including fraud - Continued

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or noncompliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with section 144 of the Charities Act 2011 and with regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to 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 to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Ward (Senior Statutory Auditor) Alpha House for and on behalf of Azets Audit Services 4 Greek Street Statutory Auditors Stockport, SK3 8AB

Azets Audit Services is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

40

The Franciscan Missionaries of St. Joseph

Statement of Financial Activities

For the Year Ended 31 December 2023

Note
Incoming Resources
Voluntary Income
2
Activities for
Generating Funds
3
Investment Income
4
5
6
Total Incoming Resources
Incoming Resources
from Charitable Activities
Other Incoming
Resources		 2023
2022
Unrestricted
Designated
Restricted
Total
Total
Funds
Funds
Funds
Funds
Funds
£
£
£
£
£
583558
-
580533
1218
-
95
849 19468
6953
108726
-
101123
69487
-
34867
69487
1218
-
-
583558
-
-
108726
-
20317
763838
19468
723571
-
783306

41

The Franciscan Missionaries of St. Joseph

Statement of Financial Activities - Continued For the Year Ended 31 December 2023

Note
Resources Expended
Fundraising trading:
cost of goods sold
and other costs
7
Investment
Management Costs
8
Charitable Activities
Charitable Activities
9
Governance Costs
10
Total Resources Expended
Costs of Generating
Funds
Net Outgoing
Resources before
Gains/(Losses) on
investments		 2022
Unrestricted
Designated
Restricted
Total
Funds
Funds
Funds
Funds
£
£
£
-
-
-
-
18379
23221
1547669
-
1427491
37480
-
33228
£
18379
-
-
1547669
37480
Funds
Total
-
-
2023
-
£
1585149
18379
1483940
1603528
-
(821311)
1089
(760369)
(820222)
-

42

The Franciscan Missionaries of St. Joseph

Statement of Financial Activities - Continued

For the Year Ended 31 December 2023

Note
Net Movement in Funds
Total Funds Brought Forward
Total Funds Carried Forward
Transfer
of
Ecuadorian
Retirement Funds
Transfer Between Funds
Movement in Value of
Investment Assets
Reconciliation of Funds
Profit/(Loss) on Sale of
Investment Assets
Gains/(Losses) on
Investments		 2022
Unrestricted
Designated
Restricted
Total
Funds
Funds
Funds
Funds
£
£
£
£
£
-
65864
63089
-
227298
(966822)
-
772482
(772482)
-
-
-
-
227298
-
-
65864
Funds
Total
2023
(48829)
(478231)
(1664102)
1359901
3855258
6879261
-
(527060)
-
5215159
1311072
3377027
5215159
-
4688099

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

43

The Franciscan Missionaries of St. Joseph

Balance Sheet as at 31 December 2023

2023
Note
£
£
£
Fixed Assets
Freehold & Leasehold Property
Other Tangible Assets
7707
Total Tangible Fixed Assets
14
Designated Funds Investments
15
Investments
Quoted Investments
16
-
Unquoted Investments at Cost
280
Total Fixed Assets
Current Assets
Sundry Debtors
20
8205
Cash at Bank - Deposit Accounts
88824
Cash at Bank - Current Accounts
20452
Cash in Hand
2381
119862
Liabilities
Creditors: due within one year
21
53337
Net Current Assets
Total Net Assets
The Funds of the Charity:
Restricted Funds
Designated Funds
Unrestricted Funds
Maintenance Reserve
17
1280000
General Fund
31515
Total Charity Funds
24
Sister Anne Moore
Directors
Sister Ann Jentrix Murundu
79901
76167
1311515
4688099
2885
280
1280000
126300
3551
18304
-
3376584
151040
4621574
280
66525
4688099
1334604
-
9538
1342311
3278983
1363522		 2022
£
1373060
3766946
280
5140286
74873
5215159
-
3855258
1359901
5215159

Approved by the Directors on 9th September 2024

Registered Charity Number 1135474

44

The Franciscan Missionaries of St. Joseph

Consolidated Statement of Cash Flows For the Year Ended 31 December 2023

Cash flows from operating activities
Net cash (outflow) in respect of operating activities
A
Cash flows from investing activities
Investment income and interest received
Proceeds from the disposal of tangible fixed assets
Purchase of tangible fixed assets
Proceeds from the disposal of investments
Purchase of investments
Net cash provided by investing activities
Increase/(decrease) in cash and cash equivalents
Cash and cash equivalents as at 1 January 2023
B
Cash and cash equivalents as at 31 December 2023
B		 2022
£
£
(713421)
6953
250
(480)
712693
(80000)
639416
(74005)
620677
546672
546672
-
-
659809
-
680126
(157814)
2023
(837940)
20317
388858

45

The Franciscan Missionaries of St. Joseph

Consolidated Statement of Cash Flows - Continued

For the Year Ended 31 December 2023

A Reconciliation of net movement in funds to net cash used in operating activities

Adjustments for:
Depreciation charge
(Profit)/Loss on sale of fixed assets
(Gain) on sale of investment assets
Transfer from MHP Fund to Central Fund
Movement in Value of Ecuadorian R'ment Fund
Movement in Value of Africa Regional Fund
Investment income and interest receivable
Decrease in balance due to MHP
Loss/(Surplus) on disposal of tangible fixed assets
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net Transfer from Designated Funds to
Unrestricted Funds
Net cash (outflow) in respect of operating activities
Net movement in funds (as per the Statement of
Financial Activities)*
(Gain)/Loss on movement in value of investment
assets		 2022
£
£
(1664102)
31911
(250)
(63089)
966822
697029
(124)
-
(6953)
-
-
4089
18151
(696905)
(713421)
(22830)
(837940)
782204
(527060)
(20305)
-
-
30749
(65864)
2023
(772482)
(12)
(9722)
(5320)
(227298)
-

B Analysis of cash and cash equivalents

MHP Cash at Bank Fixed Term Deposit
MHP Cash at Bank Current Account
MHP Monies held on Investment Platforms *
Cash at Bank - Deposit Accounts
Cash at Bank - Current Accounts
Cash in Hand		 2022
£
£
-
391007
7510
126300
18304
3551
546672
388858
118066
88824
20452
2381
9135
2023
150000

46

The Franciscan Missionaries of St. Joseph Notes to the Accounts for the Year Ended 31 December 2023

1 Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

a) Company Information:

The Franciscan Missionaries of St. Joseph is a Private Company Limited by Guarantee incorporated in England and Wales. The registered office is St. Joseph's Convent, 150 Greenleach Lane, Worsley, Manchester, M28 2TS.

b) Basis of Preparation:

The accounts have been prepared in accordance with the Charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102. The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The accounts are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention except as disclosed in the accounting policies certain items are shown at fair value. The principal accounting policies adopted are set out below.

c) Critical accounting estimates and areas of judgement:

Preparation of the accounts requires the Trustees to make significant judgements and estimates. The items in the accounts where these judgements and estimates have been made include:

47

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

1 Accounting Policies - Continued

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The Trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.

The Trustees of the Charity continue to think that the conflict in Ukraine coupled inflation at rates not seen for 40 years (which has now substantially abated), will have no marked structural impact on our operating income and expenditure. If this position was to change in a material way then it would not be realistic to supply future guidance, beyond saying that we remain confident that the financial consequences of such a crisis could be weathered.

The Trustees have therefore concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees are of the opinion that the Charity will have sufficient resources to meet its liabilities as they fall due.

The most significant areas of judgement that affect items in the accounts are detailed above. With regard to the next accounting period, the year ended 31 December 2024, the most significant areas that affect the carrying value of the assets held by the Charity are the level of investment return and the performance of the investment markets (see the investment policy and the risk management section of the Trustees' Report for more information).

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Sisters' salaries and pensions are received under deeds of covenant and are stated inclusive of income tax but net of any deductions for social security payments and contributions to occupational pension schemes if relevant.

Donations are recognised on a remittance basis. Receipts of property, investments or other gifts in kind are included at market value.

Government coronavirus (Covid-19) grants are recognised in an appropriate manner that matches them with the expenditure towards which they are intended to contribute. There are no such grants received this year and no further grants are envisaged.

In accordance with the Charities SORP and FRS102, volunteer time is not recognised.

48

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

1 Accounting Policies - Continued

Dividends are recognised once the dividend has been declared as becoming payable and notification received of the dividend due. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Charitable grants and donations are made where the Trustees consider there is a real need following a review of the details of each particular case. Grants and donations are included in the statement of financial activities when approved for payment. Provision is made for grants and donations approved but not paid over at the year end date.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the Charity, it is necessary to provide support in the form of personnel development, financial procedures, provision of office services and equipment and a suitable working environment.

Governance costs comprise the costs involving the public accountability of the Charity (including audit costs) and costs in respect to its compliance with regulation and good practice.

49

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

Tangible fixed assets are stated at cost less accumulated depreciation.

Depreciation is provided in equal amounts each year in order to write off the cost of fixed assets over their useful lives i.e.

Buildings and Alterations 2 %
Fixtures, Fittings and Furniture 15 %
Office Equipment 15 %
Motor Vehicles 25 %

Buildings are in constant use in furtherance of the Order's charitable objectives and are properly maintained to standards that ensure that their residual value is not less than their book value. Notwithstanding this, the Trustees have decided to depreciate buildings and alterations at the rate of 2% per annum.

Quoted investments are stated at mid-market value at the balance sheet date. Unrealised investment gains and losses are calculated as the difference between the valuation at the balance sheet date and their valuation at the last balance sheet date or purchase price, if acquired during the year and are reflected in the statement of financial activities.

j) Debtors:

Debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Deposits for more than three months and up to one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

l) Creditors and Provisions:

Creditors and provisions are recognised where the Charity has an obligation at the balance sheet date as a result of a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts that may be due.

50

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

1 Accounting Policies - Continued

For the purposes of these accounts, no value has been placed on administrative and other services provided by Members of the Congregation.

n) Pension Contributions:

Contributions in respect of the Charity's defined contribution pension scheme are charged to the statement of financial activities as they become payable in accordance with the rules of the scheme. The Charity has no liability beyond making its contributions and paying across the deductions for the employees' contributions.

Transactions of United Kingdom Sister Houses are incorporated in the financial statements.

The overseas accounts are set out on pages 68A - 116A and are not incorporated in the main accounts.

There are overseas houses located in Ireland, the United States of America, Kenya, Uganda and Ecuador.

There are two Sisters located in The Netherlands. The Dutch Sisters reside in a state run retirement home and their Dutch Pensions are used to pay the retirement home fees. Any surplus personal allowance is periodically remitted to the UK Central Fund. No bank account is maintained in The Netherlands.

The program to strengthen financial management, reporting and communication of all overseas regions is continuing.

As part of this program the Bursar General makes regular visits to each Region to re-affirm the financial guidelines under which each Region operates with particular regard to the requirement to communicate financial changes and planned financial changes to the Bursar General.

Where appropriate, the appointment of external Regional accountants will be considered and this has already been actioned in the United States and Africa Regions.

51

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

2 Voluntary Income

Donations and Other Voluntary Contributions
Other Donations:
Salaries and Remuneration
State Benefits
Pensions (Great Britain)
Pensions (Missions and Houses overseas)
Coronavirus (Covid-19) Grant Income
Council Hardship Grant
Ukraine Homeless Project
Legacies
Voluntary Contributions for Missions
Mission Appeals
Voluntary Contributions for Designated Funds
Restricted Funds
Designated Funds
Unrestricted Funds		 £
£
583558
93337
83316
15167
3450
583558
8703
-
583558
-
-
64831
199557
15598
91557
2023
583558
-
8042		 2022
£
13124
177208
8403
185723
86530
15945
7799
-
15416
66643
3742
580533
-
580533
£
-
-
580533
580533

** see note 13

52

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

3
Activities for Generating Funds
Book and Calendar Receipts
Other Fund Raising Activities
4
Investment Income
Dividends and Interest Received
on Quoted Investments
Interest Received on Unquoted Investments
Bank Interest Received		 £
£
1218
2023
2023
6766
43
20317
13551
-
1175		 2022
£
-
95
95
2022
£
6689
-
264
6953

Dividends and Interest Received on Quoted Investments and Bank Interest Received include income from designated funds of £19,456 (2022 £6,689) - see note 15. 5 Incoming Resources from Charitable Activities

Fees and Remuneration - Residential Care Homes
Other Miscellaneous Income		 2022
£
£
100918
205
101123
108388
108726
2023
338

53

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

6
Other Incoming Resources
Insurance Payout for Medical Expenses
Surplus on Sale of Motor Cars & Property
Transfers from Regions - see note 13
7
Cost of Book Expenses
Other Fund Raising Costs
8
Investment Management Costs
Investment Advice Fees
Investment Platform Fees - see note 15
Restricted Funds
Designated Funds
Unrestricted Funds
Fundraising Trading: cost of goods sold and other
costs		 £
£
£
£
42998
-
2023
-
18379
-
-
18379
69487
2535
18379
2023
-
-
2023
26489
15844		 2022
£
18629
250
15988
34867
2022
£
-
-
-
2022
£
20018
3203
23221
£
-
23221
-
23221

54

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

9 Charitable Activities

Education and Tuition
Sister House Expenses *
Cont. to Missions External Programs - see note 13
Residential Care Home Expenses
Formation
Support Costs - see note 11
Restricted Funds
Designated Funds
Unrestricted Funds		 £
£
1547669
10025
85097
-
1547669
1547669
2023
122950
14000
-
1134769
180828		 2022
£
8513
149567
76236
1086305
7000
99870
1427491
£
-
-
1427491
1427491

10 Governance Costs

Audit Fee
Legal and Other Professional Charges		 2022
£
£
10200
23028
33228
10204
37480
2023
27276

55

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

11 Support Costs

Office Expenses
Administration Salaries
Insurance
Travel
Bank Charges
Upkeep of Buildings
Depreciation - Vehicles and Fixtures & Fittings
Depreciation - Buildings & Alterations
Deficit on Sale of Motor Cars & Property
General Chapter Expenses
Other Expenses
12
Wages & National Insurance
a)
Gross Wages
Employers National Insurance
Employers Pension Contributions - NEST
b)
Residential Care Home Employees
Sister House Employees
Central Fund Employees
c)
Average number of full time equivalent employees:
Residential Care Home Employees
Sister House Employees
Central Fund Employees		 £
£
£
22953
481
-
848812
18836
17474
1496
809432
2023
26767
-
20544
787537
1
1
35
14097
1831
14236
2023
28918
47178
8794
33
848812
122950		 2022
£
14300
15350
8883
25981
1404
-
2993
28918
-
1783
258
99870
2022
£
748197
44129
12923
805249
£
769514
18780
16955
805249
34
1
1
36

d) No employees had emoluments in excess of £60,000 in either year.

56

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

12 Wages & National Insurance - Continued

e) There are no key management salaries. All key managers are Trustees of the Charity and receive no remuneration.

13 MISSIONS

This note brings together the UK income and expenditure for sisters based overseas. The overseas accounts for Africa are audited but the overseas accounts for Ireland, USA and Ecuador

a) Income for Missions and Other Houses Overseas

Region
Srs. Pensions
Vol. Contbs.
Mission Appeals
see note 2
Transfers from
Regions to Central
Fund **		 Ireland
USA
Africa
Ecuador
£
£
£
£
-
10021
-
-
-
2165
-
79370		 2022
Total
Total
£
£
86530
66643
2023
91556
-
-
10021
17210
-
2165
9279

-
79370		 153173
15998
26489
91556
17210
10021
11444
79370		 169171
3742
15167
118045
** see note 6
172913
133212

c) Expenditure relating to Mission and Other Houses Overseas

N.I. Contributions
Other Srs. Exps.
Transfer from
Central Fund for
External Pgrms.		 2022
Ireland
USA
Africa
Ecuador
Total
Total
£
£
£
£
£
£
-
-
650
581
2023
1200
-
-
550
-
650
581
16864
76236
1200
-
85097
68233
550
-
17514
76817
-
86297
68783

57

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

13 MISSIONS - Continued

14 Tangible Fixed Assets

Freehold Land and
Buildings		 Motor Cars Office
Equipment		 Fixtures &
Fittings		 Total
£ £ £ £ £
a) Cost or Valuation:
As at 1 January 2023 1652702 110947 33014 1036513 2833176
Additions at Cost - - - - -
Impairment - - - - -
Disposals - (16195) - - (16195)
At 31 December 2023 1652702 94752 33014 1036513 2816981
b) Depreciation:
As at 1 January 2023 289180 110947
31316		 1028673 1460116
Charge for the Year 28918 -
393		 1438 30749
Disposals - (16195) - - (16195)
At 31 December 2023 318098 94752 31709
 1030111 1474670
c) Net Book Value:
As at 31 December 2023 1334604 -
1305		 6402 1342311
As at 31 December 2022 1363522 -
1698		 7840 1373060

58

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

14
Tangible Fixed Assets - Continued
d)
Freehold Land and Buildings include alterations and are stated:
At 1 January 2023
At 1987 Valuation
At Cost
Cost or Valuation at 1 January 2023
At 31 December 2023
At 1987 Valuation
At Cost
Cost or Valuation at 31 December 2023
e)
Fixtures and Fittings are stated:
At 1 January 2023
At 1998 Valuation
At Cost
Cost or Valuation at 1 January 2023
At 31 December 2023
At 1998 Valuation
At Cost
Cost or Valuation at 31 December 2023		 £
310000
1342702
1652702
310000
1342702
1652702
908750
127763
1036513
908750
127763
1036513

59

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

15A Designated Fund: MHP

In 1994 The Congregation created a pension fund for the maintenance of retired Sisters from donations made by the Mill Hill Society primarily for that purpose.

Balance as at 1 January 2023
Mill Hill Donation
Net Transfers (to)/from Central Fund
Movement on Value of Investments Held
Bank Interest Received
Investment Income
Profit on Sale of Investments
Investment Advice Fees
Investment Platform Fees
Balance as at 31 December 2023
b)
Funds are invested as follows:
Quoted Investments
Cash at Bank - Deposit Accounts
Monies Held on Investment Platform
Net Sundry Debtors
c)
Quoted Investments are incorporated
at Market Value i.e.
Cost
Surplus on Valuation
Market Value		 £
£
£
3278983
2023
65864
3001782
3001782
2473800
3766948
3278983
268066
-
6766
-
527982
227298
2023
9135
(15844)
(2535)
2023
(782204)
12690		 2022
£
5384240
-
(697029)
(966822)
680
6009
63089
(20018)
(3203)
3766946
2022
£
3368429
391007
7510
-
3766946
2022
£
1836344
1532085
3368429

60

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

15A Designated Fund: MHP - Continued

d)
The movement in quoted investments
during the year is as follows:
Cost as at 1 January 2023
Disposals
Additions
Consolidation of Investments
Cost as at 31 December 2023		 2022
£
£
2405949
(649605)
80000
-
1836344
1836344
(593995)
2023
2473800
1231451

The consolidation of investments relates to the transfer of existing certificated investments in to the closest class of each particular investment available on the new investment platform. Profit or loss on such transactions has not been recognised, as there is no change in the underlying investment held.

e) The Mill Hill pension fund includes the following investments which represent more than 5% of the value of the portfolio at the start of the year or/and at the end of the year.

abrdn UK Ethical Equity
CT European Select
CT Responsible UK Income
Fidelity Sustainable European Equity
Aegon Ethical Equity
Royal London Sustainable Leaders Trust
Rathbone Ethical Bond Fund
Royal Bank of Scotland 12 Month Fixed Bond		 2022
£
£
237481
152787
171095
289142
234922
240942
197929
200000
1724298
182264
186492
269943
211739
1570050
235408
2023
-
217876
266328

61

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

15B Designated Fund - Ecuadorian Sisters Retirement Fund

Monies constituting the Ecuadorian Sisters Retirement Fund, previously located and managed in the United States, were transferred to the Central Fund in March 2020.

Balance as at 1 January 2023
Add Annual Supplement
Contribution to Fund
Balance as at 31 December 2023		 2022
£
£
88188
124
-
88312
88312
443
2023
98034
9279

It is intended that these monies will be set aside in their own dedicated bank deposit account, now that interest rates have returned to normal.

Following the rise in interest rates in 2022 which continued in 2023 a credit has been calculated in line with interest rates available to the Order.

16 Investments

There have been no quoted investments held in the year or in the previous year.

Unquoted investments totalling £280 (2022 £280) related to premium bonds.

62

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

17 Maintenance Of Retired Sisters

There is a substantial liability for the future costs of maintenance of Sisters in their retirement.

To provide for this Reserves have in the past been created by transfers from the Capital Fund of the Order. It is now necessary to supplement the operating funds by transfers from these reserves i.e.

Maintenance Reserve
Balance as at 1 January 2023
Less Transfer to Capital Account this Year
Balance as at 31 December 2023		 2022
£
£
1300000
20000
1280000
1280000
2023
1280000
-

The Mill Hill Pension Funds support the Retired Sisters Maintenance Fund and total £3,278,983 (2022 £3,766,946).

Monies transferred to the Capital Fund of the Order from the Mill Hill Pension Fund in the year totalled £782,204 (2022 £697,030) so as to avoid the need to transfer further funds from the Maintenance Reserve.

A full report on the Mill Hill Pension Fund is provided in Note 15.

The maintenance of retired Sisters has, as in previous years, been charged as an expense when the cost was incurred.

It has been possible in previous years to meet these costs from current income without recourse to the Pension Funds. This practice has not been sustainable since 2011 and the release of reserves to supplement current income will continue for the foreseeable future.

A pension of £10,379 (2022 £9,820) per Sister is regarded as the minimum target but is significantly less than the current need. The effects of inflation are recognised and the annual pension target is now being indexed accordingly from a base figure of £5,000 in 2003.

The Trustees estimate that the funds needed to provide an annual inflation indexed pension of £10,379 (2022 £9,820) per sister from the date of retirement exceeds £8.08 million (2022 £7.56 million) of which £3.37 million (2022 £3.44 million) relates to Sisters over the age of 65.

The calculations continue the policy adopted in 2010 which incorporates different Regional life expectancy rates.

It is intended that further additions, whenever possible, will be made to the Pension Funds towards ensuring that future costs can be met.

63

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

18 United Kingdom Sister Houses

Transactions of United Kingdom Sister Houses are fully incorporated in the financial statements.

19 Taxation

Due to the charitable status of the Company, they are not subject to Corporation Tax.

20 Debtors

Salaries Receivable
Legacies Receivable
Income Tax Repayable
Prepayments
Other Debtors
Settlement of Investments Sold		 2022
£
£
2474
-
411
-
-
-
2885
-
-
8205
2023
6974
-
-
1231

21 Creditors : Amounts Due Within One Year

Accruals
Dowries Reserve
Settlement of Investments Purchased
Other Creditors
Africa Regional Fund
Pension Contributions, Social Security and Other
Taxes		 2022
£
£
14240
31615
561
-
29746
5
76167
14005
30834
5
561
7932
53337
-
2023

64

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

22 Lease Commitments

At the year end date the Company had outstanding commitments for future minimum lease payments under non-cancellable operating leases as follows

2023 2022
£ £
Rental Property - 5000

23 Contingent Liability

A liability exists for the repayment of legacies inherited by individual Sisters and is contingent on their departure

2023 2022
£ £
The total of such legacies were 57479 57479

24 Funds Analysis

Restricted Fund
Designated Fund
Mill Hill Pension Fund
Ecuador R'ment Fund
Kenya Regional Fund
Unrestricted Funds
Maintenance Reserve
General Fund		 As at 1
As at 31
Jan 2023
Received
Expended
Transfer
Dec 2023
£
£
£
£
£
-
-
-
3766946
312620
3278983
88312
-
98034
-
30874
-
10
1280000
-
1280000
79901
763838
31072
-
(30864)
-
-
772482
(1585149)
-
(18379)
(782204)
-
9722
5215159
1107332
4688099
-
(1634392)

Designated Fund

A pension fund for the maintenance of retired Sisters has been created from donations made by the Mill Hill Society. See notes 15 and 17 for a full report.

65

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023 - Continued

25 Analysis of Net Assets between Funds

Fund balances at 31 December 2023
are represented by:
Tangible Fixed Assets
Designated Fund Investments
Investments
Net Current Assets/(Liabilities)		 Unrestricted
Designated
Restricted
Total
£
£
£
£
1342311
1342311
-
3278983
280
280
(31519)
66525
-
-
3278983
-
-
-
98044
-
1311072
4688099
3377027
-

26 Additional Information

The Company is a Charitable Company Limited by Guarantee with no Share Capital and registered in England & Wales.

The Registered Number is 07010772

The registered office is located at St Joseph's Convent, 150 Greenleach Lane, Worsley, Manchester, M28 2TS.

The Trustees were not re-imbursed for any expenses. There are no other related party transactions to report.

Contingent liabilities are reported in Note 23. There are no other contingent liabilities to report.

At the General Chapter in June 2023 Sister Anne Moore was elected as the Congregational Leader, Sister Margaret Nyabongoye as the Assistant Congregational Leader, Sister Ann Jentrix Murundu as the Congregational Bursar, Sister Francis Slater as the Secretary General and Sister Brenda Makokha as a Congregational Councillor.

Sister Maureen Murphy, and Sister Joan Kerley’s term of office expired at the 2023 Chapter

There are no other post balance sheet events to report.

66

The Franciscan Missionaries of St. Joseph Unaudited Overseas Accounts for the Year Ending 31 December 2023

Index

68A Accounts for the Ireland Region
76A Accounts for the United States of America Area
85A Accounts for the Africa Region
112A Accounts for the Ecuador Region

The Franciscan Missionaries of St. Joseph

Income for the Year Ended 31 December 2023

Ireland Region

Unrestricted Unrestricted Restricted Total
2022 Funds Funds Funds
£ £ £ £
Salaries and Pensions
29766 Salaries 35263 - 35263
133707 Pensions 136665 - 136665
- Benefits - - -
6
-
163473
4253		 Voluntary Contributions
Financial Receipts
Investment Income
Bank and Building Society Interest Received
and Other Similar Income		 6
-
631
171928		 -
-
-
-		 171928
631
6
-
10204
-
-
6
480421		 Mission Income
Other Income
Housing Adaption Grant
Herald Magazine
Sister House Income


 -
-
-
-
6		 -
-
-
390332
-		 6
390332
-
-
-
10204 - - -
658357 Total Income for the Year 172565 390332 562897

68A

The Franciscan Missionaries of St. Joseph

Expenditure for the Year Ended 31 December 2023

Ireland Region

Unrestricted Restricted Total
2022 Funds Funds Funds
£ £ £ £
- Education and Tuition - - -
Sister House Expenses
- Upkeep of Buildings 25844 - 25844
176676 Other Sister House Expenses 166836 - 166836
176676
459
2096
1668		 Establishment Expenses
Office Expenses
Travel
Donations		 192680
2506
2864
403		 -
-
-
-		 192680
2506
2864
403
292
92
(39546)
8175
-
4223
1		 Financial Expenses
Bank Charges
Exchange Adjustments
Investment Management Fees
Interest
Professional Fees
Depreciation		 298
5773
81
24417
8302
-
-		 -
-
-
1782
-
-
-		 5773
81
26199
8302
-
-
298
-
499991
(30986)		 Mission and Other Houses Overseas
Formation		 33098
-
-		 1782
236594
-		 34880
236594
-
649904 Total Expenditure For The Year
Net Outgoing Resources before		 231551 238376 469927
8453 Gains/(Losses) on investments (58986) 151956 92970

69A

The Franciscan Missionaries of St. Joseph

Balance Sheet as at 31 December 2023

Ireland Region

Unrestricted Restricted Total
2022 Funds Funds Funds
£ £ £ £
- Gains/(Losses) on Investments - - -
9131 Profit/(Loss) on Sale of Investment Assets - - -
(56505) Movement in Value of Investment Assets 52075 - 52075
- Transfer Between Funds (175) 175 -
(38921)
748463		 Net Movement in Funds
Total Funds Brought Forward
Reconciliation of Funds		 (7086)
709200		 152131
342		 145045
709542
709542 Total Funds Carried Forward 702114 152473 854587

70A

The Franciscan Missionaries of St. Joseph

Balance Sheet as at 31 December 2023

Ireland Region

Fixed Assets
Freehold Property
Fixtures and Fittings
Motor Cars
Total Tangible Fixed Assets
Investments
Total Fixed Assets
Current Assets
Sundry Debtors
Cash at Bank - Deposit Accounts
Cash at Bank - Current Accounts
Cash at Bank - Misean Cara Current Account
Cash in Hand
Liabilities
Creditors: due within one year
Net Current Assets
Total Net Assets
The Funds of the Charity:
Restricted Funds
Unrestricted Funds
Total Charity Funds
3
14909
509412
524321
-
60926
118694
342
5259
185221
709542
-
185221
342
1977
12929
2022
£
709200
709542		 £
76680
-
59540
152473
4535
-
293228		 £
12430
1846
13954
28230
533129
561359
293228
854587
152473
702114
854587

71A

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023

Ireland Region

1 Foreign Currencies

Transactions conducted in Euros are converted into Sterling at the average rate of exchange during the year. Assets and liabilities are converted at rates of exchange ruling at the balance sheet date.

2 Tangible Fixed Assets

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||||||| |---|---|---|---|---|---| |Fixtures| |Freehold land|Motor| |and Fittings| |and building|Cars|Total| |a)|Cost or Valuation|£|£|£|£| |At 1 January 2023|15034|29355|156584|200973| |Additions at cost|-|14116|-|14116| |-|-| |Disposals|(29355)|(29355)| |Exchange Adjustments|(342)|(162)|(3559)|(4063)| |At 31 December 2023|14692|13954|153025|181671| |b)|Depreciation| |At 1 January 2023|2105|29352|154607|186064| |Charge for the Year|208|-|87|295| |On Disposals|-|(29352)|-|(29352)| |Exchange Adjustments|(51)|-|(3515)|(3566)| |At 31 December 2023|2262|- 151179|153441| |c)|Net Book Value| |At 31 December 2023|12430|13954|1846|28230| |At 31 December 2022|12929|3|1977|14909|

----- End of picture text -----

72A

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023

Ireland Region

2 Tangible Fixed Assets - Continued

Freehold land and building and motor cars are stated at cost.

Depreciation is provided in equal amounts each year in order to write off the cost of fixed assets over their useful lives i.e.:

Buildings and Alterations 2%
Fixtures and Fittings 15%
Motor Vehicles 25%

Buildings are in constant use in furtherance of the Order's charitable objectives and are properly maintained to standards that ensure that their residual value is not less than their book value. Notwithstanding this, the Trustees have decided to depreciate buildings and alterations from 1 January 2013 at the rate of 2% per annum and as such this was a change of accounting policy in 2013.

3 Transactions with other Regions

Income and expenses of the Region which have been transacted through the United Kingdom Central Fund and which are not therefore included in the Regional account were as follows:-

2023 2022
£ £
Pensions Received 79370 71381
Expenses - 57

73A

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023

Ireland Region

4 Investments

Davy Group stockbrokers manage a portfolio of equity and bond funds.

The Davy Portfolio account for the year is as follows:
Value as at 1 January 2023
Movement in Value this year
Investment Income
Interest
Profit on Sale of Investments
Investment Management Fees
Exchange Adjustment
Balance as at 31 December 2023
Funds are invested as follows:
Quoted Investments
Cash at Bank
Sundry Creditors
Quoted Investments are incorporated
at Market Value i.e.
Cost
Surplus on Valuation
Market Value		 £
£
£
1
2023
533129
248
-
533377
2023
459291
73838
533129
533377
-
(8183)
(20184)
2023
509668
52075
-		 2022
£
537018
(56505)
-
(1)
-
(8058)
37214
509668
2022
£
509412
256
-
509668
2022
£
469974
39438
509412

The Davy portfolio include the following investments which represent more than 5% of the value of the portfolio at the start of the year or/and at the end of the year.

Davy Funds PLC GPS Moderate Growth B EUR ACC £
533129
2023		 2022
£
509412

74A

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023

Ireland Region

5 Missions

Expenditure relates to transfers for missions in Kenya and Ecuador and to donations to missions of other congregations and contributions to external mission programmes.

6 Misean Cara

Funds totalling €445,378 (2022 €556,752) were received from Misean Cara Ireland and were banked in a separate Mission bank account together with other private mission donations. These monies are donated to further the specific works of The Order in Ecuador and Kenya and as such are treated as a restricted fund.

The Mission bank transactions are summarised as follows:

Balance brought forward
Amounts Received from Misean Cara
Other Donations
Bank Refund
Remitted to Ecuador
Remitted to Kenya
Training
Exchange Adjustments
Total Expended
Balance Carried Forward
Total		 £
390849
-
2023
389639
-
342
238376
152473
236594
1782
-
390849
868		 2022
£
19348
477160
3260
-
499768
-
499991
-
(565)
499426
342
499768

The Congregation is grateful to Misean Cara for these funds which enabled the Sisters to carry out a number of mission projects and to help many people.

75A

The Franciscan Missionaries of St. Joseph Income for the Year Ended 31 December 2023 United States of America Area

£
Salaries and Pensions
Salaries
Pensions
Voluntary Contributions
Financial Receipts
Bank Interest Received
Investment Income
Mission Appeals
Sister House Income
Other Income
Contribution from Mill Hill Sisters of New York Charitable Trust
Total Income for the Year
(138340)
-
122509
-
-
28149
(105171)
5020
-
-
(138340)
2022
£
-
-
5020
5813		 £
5813
-
122509
-
-
29016
157338

76A

The Franciscan Missionaries of St. Joseph Expenditure for the Year Ended 31 December 2023

United States of America Area
Education and Tuition
Sister House Expenses
Establishment Expenses
Office Expenses
Travel
Donations
Financial Expenses
Bank Charges
Exchange Adjustments
Professional Fees
Depreciation
Missions
Contribution to Ecuadorian Retirement Fund
Formation
Total Expenditure for the Year
Surplus/(Deficit) For The Year
-
-
-
-
2022
£
-
32508
-
(105171)
(85119)
-
-
(52611)
(52560)
(87374)
2255
-
-
£
-
-
-
-
41908
2198
-		 £
-
33796
-
44106
-
-
-
77902
79436
157338

77A

The Franciscan Missionaries of St. Joseph

Balance Sheet as at 31 December 2023

United States of America Area

Capital Account
Capital as at 1 January 2023
Surplus/(Deficit) For The Year
Transfers to Ecuador Region
Remitted to UK Central Fund
Capital Fund
Designated Fund
Mill Hill Sisters of New York Charitable Trust
Current Liabilities
Ecuadorian Retirement Fund
756240
52524
2022
£
821311
(52560)
(12511)
756240
-
808764
-		 £
756240
79436
(18766)
816910
-
816910
6657
-
823567

78A

The Franciscan Missionaries of St. Joseph

Balance Sheet as at 31 December 2023

United States of America Area

Fixed Assets
Freehold Property
Fixtures and Fittings
Motor Cars
Total Tangible Fixed Assets
Designated Funds Investments
Mill Hill Sisters of New York Charitable Trust
Investments
Investments
Current Assets
Sundry Debtors
Other Cash and Bank Balances
Total Assets
£
-
-
4567
4567
-
8
8
52524
751665
2022
808764		 -
5324		 £
-
-
8
8
6657
811578
5324
823567

79A

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023

United States of America Area

1 Transactions with other Regions

Income and expenses of the Area which have been transacted through the United Kingdom Central Fund and which are not therefore included in the Area account were as follows:

2023 2022
£ £
Pensions Received - -
Expenses - -

2 Foreign Currencies

Transactions conducted in US Dollars are converted into Sterling at the average rate of exchange during the year. Assets and liabilities are converted at rates of exchange ruling at the balance sheet date.

80A

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023

United States of America Area

3 Tangible Fixed Assets

a)
Cost or Valuation
At 1 January 2023
Additions at cost
Disposals
Exchange Adjustments
At 31 December 2023
b)
Depreciation
At 1 January 2023
Charge for the Year
On Disposals
Exchange Adjustments
At 31 December 2023
c)
Net Book Value
At 31 December 2023
At 31 December 2022		 Total
£
£
£
13671
-
-
(700)
12971
13663
-
-
(700)
12963
8
8
(106)
11003 1968
11589 2074
-
-
-
-
(594)
8
-
-
8
-
-
-
-
(594)
(106)
10995 1968
Motor
Cars
Fixtures &
Fittings
11597 2074

d) Basis of Valuation

Motor cars are stated at cost.

The Trustees revalued the fixtures and fittings on 30 November 1998.

Capital Expenditure authorised or contracted for before 31 December 2023 for which no provision has been made in the accounts is £Nil.

81A

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023

United States of America Area

4 Quoted Investments

Quoted investments are stated at market value and comprise:

Christian Brothers CRI Magnus 60/40 Alpha Plus Fund
Albany House Investments managed by Wells Fargo		 £
811578
477585
333993
2023		 2022
£
430552
321113
751665

The Albany House investments, managed by Wells Fargo, are substantially invested in fixed interest quoted securities and other cash equivalents.

Funds managed by Christian Brothers are invested in a prescribed mix of passively managed equities and fixed interest quoted securities and other cash equivalents.

The movement in quoted investments during the year is summarised as follows:

Investments as at 1 January 2023
Transfer from Mill Hill Sisters of New York
Missions
Transfer to UK Central Fund
Management Expenses
Investment Surplus/(Deficit)
Exchange Adjustments
Investments as at 31 December 2023
Investment income is reinvested.		 £
(18766)
-
(2198)
122509
(41632)
751665
-
2023
811578		 2022
£
817842
-
(12511)
-
(2255)
(144674)
93263
751665

Investment income comprises dividends and interest received, the surpluses on the sale of investments and the movement arising on the value of unrealised investments.

82A

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023

United States of America Area

5 Designated Fund

The Mill Hill Sisters of New York Charitable Trust was established in 1999. Its purpose is the care of the elderly sisters of the community (that is, the Mill Hill Sisters of New York/Franciscan Missionaries of St. Joseph), and those who regardless of age become disabled or those who for whatever reason become unemployed.

The Trust Agreement provides for the return of all residual monies to the Albany Diocese once all the Sisters have been cared for.

Fund value as at 1 January 2023
Transfer to UK Central Fund
Transfer to Albany House Investment Funds
Withdrawal
Management Expenses
Bank Charges
Movement in value of funds Surplus/(Deficit)
Exchange Adjustment
Fund value as at 31 December 2023		 £
(29016)
(192)
2211
(1628)
6657
52524
(17210)
-
(32)
2023		 2022
£
101694
(15998)
-
(28149)
(536)
(31)
(11675)
7219
52524

Income is reinvested. There have been no other additions to the fund in the year. Withdrawals contribute to the maintenance of retired sisters from the United States including those sisters from the United States who now reside in the UK.

The funds are managed by Wells Fargo and are substantially invested in fixed interest quoted securities and other cash equivalents.

83A

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023

United States of America Area

6 Ecuador Region

The Ecuadorian Retirement Fund investments were held in a dedicated account managed by Wells Fargo. In March 2020 the fund was relocated and is now held in the UK Central Fund. All the unvestments were sold and the resulting cash balance was transferred to the UK on 5 March 2020.

7 Charitable Status

The Region was incorporated on the 21 January 1975 as the Mill Hill Sisters of New York pursuant to section 402 of the Not-For-Profit Corporation Law of the United States of America. In October 2007 the Region was reclassified as an Area. Accounts for the United States of America Area will continue to be reported separately in view of the amount of assets still managed in the United States.

84A

FRANCISCAN MISSIONARIES OF SAINT JOSEPH REGISTERED TRUSTEES (AFRICA REGION)

ANNUAL REPORT

AND

FINANCIAL STATEMENTS

31 DECEMBER 2023

86A

Franciscan Missionaries of Saint Joseph Registered Trustees (Africa Region) Annual report and financial statements For the year ended 31 December 2023

CONTENTS
PAGE
Trust Information 1
List of Communities 2
Report of the Trustees 3
Statement of the Trustees' Responsibilities 4
Report of the Independent Auditor 5 - 7
Financial Statements:
Statement of Income and Expenditure 8
Statement of Financial Position 9
Statement of Changes in Fund Balances 10
Statement of Cash Flows 11
Notes 12 - 20
The following pages do not form an integral part of these financial statements:
Schedule of Income and Expenditure 21 - 24

87A

Franciscan Missionaries of Saint Joseph Registered Trustees (Africa Region) Annual report and financial statements For the year ended 31 December 2023

TRUST INFORMATION

TRUSTEES / REGIONAL TEAM TRUSTEES

Sr. Margaret Bradbury Regional Bursar Sr. Medrine Musundi Member Sr. Priscah Bonareri Member Sr. Mary Monari Member Sr. Benter Atieno Member Sr. Tecla Chepng'eno Member REGIONAL TEAM Sr. Medrine Musundi Regional Leader Sr. Priscah Bonareri Assistant Regional Leader Sr. Mary Monari Member Sr. Benter Atieno Member Sr. Tecla Chepng'eno Member REGISTERED OFFICE Ingham House P.O. Box 21032-00505 Nairobi INDEPENDENT AUDITOR Anchinga and Associates Certified Public Accountants 2nd Floor, Adlife Plaza, Chania Drive P.O. Box 67731 - 00200 Nairobi, Kenya. BANKERS NCBA Bank Kenya Plc Nairobi Kenya Commercial Bank Nairobi Ecobank Limited Nairobi African Banking Corporation Nairobi Centenary Bank Kotido, Uganda

1

88A

Franciscan Missionaries of Saint Joseph Registered Trustees (Africa Region) Annual report and financial statements For the year ended 31 December 2023

LIST OF COMMUNITIES

Sr. Margaret Bradbury Sr. Bibiana Shilwatso Sr. Medrine Musundi Sr. Bibiana Shilwatso Sr. Bernadette Nealon Sr. Margaret Obwogi Sr. Dorcas Moraa Sr. Jacqueline Ngoge Sr. Mary Monari Sr. Margaret Obwoge Sr. Nancy Omete Sr. Angeline Munyao Sr. Benter Atieno Sr. Margaret Tambasi

Manager Mr. Zacharia Chiliswa

2

89A

FMndc•n Mtslwl•• olS•lnl Jv•ph Rrylitw•d fThil•N (Afrk• R￿1 ARN￿￿￿¢•ndthIQ¢I￿I itsl•n•ftts th• y••r •nd•dJl D•¢•Trbw 302J REPORT OF THE TRUSTEES Tw$loes svtth th•'r r8F•Yt Icylh8r ￿1h I￿1￿j slalomonts >•ai 31 08￿nI X123, d¢)￿ ts stal• of aff&r5 01 tho ￿pan￿1￿. PRINCIPAL ACTMr Th8 pnnupal the tyyantt8tKM is k) Th¥ntster to Ihjse nKtsI li wd. the FW. h un&Y￿atsd. sKk the dyiThJ. RESULTS Actu•1 2023 Ksh 5,242,374 Adu•1 2023 Actuil 2022 Ksh I1,472,￿•1> Actuil 2022 Surplu• I Ideflclt) forth• yKr 26,238 19,9211 TRUSTEES I REGIONAL TEAAI The Trnstses hèkl offTr during the year b) the date ol this reFQrt are thi on pag&1. INDEPENDENT AUDITORS The a￿111015, Anthitvja & Asscoates, celti￿ PubiKNLtyuntsnts IK) hab expressed thew vriltir¥Jrss ki o)ntinu8 Ki BY ORDER OF THE TRUSTEES Sr Medrine Musundi Reglonal Leader & Trustee Sr Margar81 Br&Jbury R•glonJl 8urnar & TNIt nabjre.... 90A

Fr•nclsun mh8kni•rf￿ olS•lntJos•ph RwJi•(•r•d Twit••i (Alfk• R•qknJ Annu•lr•wt•ndlln•n¢l•lJt•¢•mMts lh• d•d31 DK•mlw 2023 STATEMEIIT OF THE TRUSTEES. RESPON81gIUTY Tnjstees are requlred to prepe financial Slater￿ts thh ol¥e a true arJ laK d th• sl8 tr. LYg8nizalk)n as al the eTrY of the flnavKlal year arJ of th8 resurts lor Ihal year. T￿ T￿￿tee8 We wiyr6yJ tr) vt%yfJ fr ganiZatic￿ maintans proper acrounb'ng rttords vthkh dischxe Vilh feag)nabts) cl I organizalth. Th8 Tnjslees are also ieskx)n&ble lor saleguarding the assets of the tygantZdt¥ffi. Trustees &cepls resFrf)nsibilily for the preparatKJn aNJ fair presenlaim ol I￿a￿la1 sL7tV￿ that We Iry Irrjm misslatemenl whether due lo Iraud orerror.They also ￿p1 ￿s[KIn51￿M1ty for. i) LsiDnlrw, implementing and mainlainlng SLKh inlemal conlf(As a8 they ￿teM)I￿ 1% rw¥8Wy tr) tr. pr8Senlal￿n of the financial slalemenls,. if) Sting and applying approprfale accounliry w)IKies', aNI iii) Maklryj accountiry eslimales and ludgenwls that afe rea9)nable in the tircumstam. Th8 Trustees are ol Ihe oplni)n thal th8 finarKial stsIen￿nts gi￿ a tn aTrJ fair vewof ￿ fina￿￿ FO$rt￿l as al 31 DKember 2023 and of ils rerfomw ark1 cash Ih)ws for year then eNJed in Cl￿nI1￿ FoIKies sel oul on 12 and 13. In prepariThJ tsse financlal statements. the Tntstees ha￿ assessed the organtzatKin's atl'lty lo 0)nlin￿ as a G (x)rKem.Nolhiffj has come lo Ihe attentK)n oflhe Trustees to that the OrganizalK￿ V•ill Tr)t remain a rthxn at leasi IlK8 next I￿l￿r nh)nths from the date of Ihis slaleNnl. So far as Tntstees affj Ihere is rn) relevanl a￿lit infO￿atrOn the aL*Jrtor is unware of, aTrJ tre Tr￿tee$ h&t aken all Ihe steps that ought lo have been taken in order lo term ￿re d any re￿￿an1 audrt informakn aFxl to e5tai4rsh th he ajjitor is aware of that InforniatKIn. ppro¥vJ ty Ihe Trusteeson....,,,.................... .......... .....2024 aThJ s￿3n￿ M rts behaKty. Awrine Musundi ylon•l Leader & T(u•te• Reglonal Burnar & TNJtse 91A

P.O. Box 67731 – 00200 Nairobi Suite 2E3 Office: 0700 16 16 99, 0780 16 16 99 2[nd] Floor, Adlife Plaza Cell: 0722 72 15 50 Ring Road – Kilimani Email: info@pna.co.ke Nairobi, Kenya

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

FRANCISCAN MISSIONARIES OF SAINT JOSEPH REGISTERED TRUSTEES (AFRICA REGION)

Opinion

We have audited the accompanying financial statements of Franciscan Missionaries of St. Joseph, set out on pages 8 to 20 which comprise the statement of income and expenditure, statement of financial position as at 31 December 2023, statement of changes in reserves and statement of cashflows for the year ended, and a summary of significant accounting policies and other explanatory information.

In our opinion, the accompanying financial statements give a true and fair view of the financial position of Franciscan Missionaries of St. Joseph as at 31 December 2023 and of its financial performance and cashflows for the year then ended in accordance with the accounting policies set out on page 12 and 13.

Basis of Opinion

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the organization in accordance with the International Ethics Standards Board for Accountants, Code of Ethics for Professional Accountants (IESBA Code) together with the ethical requirements that are relevant to our audit of the financial statements in Kenya, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Restriction on use

This report is made available solely to the Franciscan Missionaries of St. Joseph management team and the Trustees.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the management team and the Trustees of Franciscan Missionaries of St. Joseph as a body, for this report, or for the opinions we have formed.

Other information

The management is responsible for other information. The other information comprises the report of theTrustees, statement of Trustees' responsibilities, schedules of Financial position and incomes and expenditure for Communities and Development office but does not include the financial statements and our auditor's report thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements , our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

5

92A

P.O. Box 67731 – 00200 Nairobi Suite 2E3 Office: 0700 16 16 99, 0780 16 16 99 2[nd] Floor, Adlife Plaza Cell: 0722 72 15 50 Ring Road – Kilimani Email: info@pna.co.ke Nairobi, Kenya

REPORT OF THE INDEPENDENT AUDITORS (CONTINUED) TO THE MEMBERS OF FRANCISCAN MISSIONARIES OF SAINT JOSEPH REGISTERED TRUSTEES (AFRICA REGION)

The Trustees' responsibilities for the financial statements

The Trustees are responsible for the preparation of financial statements that give a true and fair view in accordance with the accounting policies set out on page 12 and 13 and for such internal control as Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the organization's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the organization or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the organization's financial reporting process.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor'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 International Standards on Auditing will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with International Standards on Auditing, we exercise professional judgment and maintain professional skepticism throughout the planning and performance of the audit. We also:

i) Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

ii) Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the organisation’s internal control.

iii) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees.

6

93A

P.0. 6-,;31- 00)oo ?•lTk' OF4e.' o", ￿ 16 ￿ q9. o-,S.1 16 16 99 iell: L)722 72 1$ 50 REW ￿ ThE IiifEpENCENT AUDtroRS ICMUEDI TO M MEIIBERS C FRAKISCAPI MISSI3NARES Cf &4INT ￿EPH REGISTERED TRUSTEES lAFR￿A REGK)NI lor the ol th• Ithcl￿ slat•ffl•nts IContinu•dl V,. or Truslees, use oftr c£YKwn basts ol bwd on rky &)tsikn' a r￿te￿ uTK£rta￿ty extsts reLabJ l) e￿nts Ihal may cast o: tl a.'aarysakni's atNIfy lo as a g)YVJ CLYttm N that a malen31 u￿rtaInty exL51S, Wuirt kry atteryt￿ in our aw1rtLs rep)rt to retsted dscb)SUfes in ts Mary31 stalennts or, rf 5Jch ￿Te5 a? I￿￿te, k) w'n￿. &Jr c£rtustd)s a￿ bas&J (ffi ts a￿￿rt e¥thr( upts (18le tr ￿. rèwi thJ￿￿ eNpnts N c£ThJths nwcJJse cease Io CJ)ntnJp a¢ a ., Evaw tr trtwall wesentstwm. strtKn apj the Sthkn￿ts. ￿K￿￿K#) tr ar thtsV'. fv￿rr￿lI slanwts rekyesenl tt trans&lM ents in a thal éJr We ￿)n￿￿￿￿ale tr￿se charged wvemarte regatdirrfj. arNJTrJ otsr matters, pknwd SCO￿ and thrriry D,. fE aJJr. 3N spaitranl a￿art f￿ry$, any swthnl mtemal ￿￿trol thai JenDty dunTr¥ OJ". 3Loe Wt als) rew, L on k)11)M'ry maiters: 1.1 ¥•le ts¥E all fv nlorma1r￿ aTrJ eXp4anat￿ to ￿ test of our kr￿ and telEI we rthxsary ts tre ofwr I In ￿r +¥ikX. woFer t(&)ks 01￿￿jnI hthE iw kept by Lvgan(zatx so far a5 it aFFears ITOM the exèTmaky. Of1￿ Lwks,. erwerrenl partrw re$[a￿tIe tre a￿lit • tn th15 KthFerthnt aLKlikns' lem ￿ CPA P* N P.No. 1426. vobi.K 0 .4PP 2L,24 94A

Franciscan Missionaries of Saint Joseph Registered Trustees (Africa Region)

Annual report and financial statements For the year ended 31 December 2023

STATEMENT OF INCOME AND EXPENDITURE

Note
Income
3
Expenditure
Personnel expenses
4 (a)
Physical well being
4 (b)
Mental well being
4 (c)
Spiritual well being
4 (d)
Sustainability expenses
4 (e)
Administration expenses
4 (f)
Governance
4 (g)
Chesire / Lilliane Fonds
4 (h)
Luanda widows
4 (i)
Total expenditure
Surplus / (deficit) for the year		 Actual
2023
KSh
40,642,482
3,788,472
12,985,711
2,980,923
2,022,316
482,450
8,217,190
4,773,971
99,250
49,825
35,400,108
5,242,374		 Actual
2023
£
203,411
18,961
64,992
14,919
10,121
2,415
41,126
23,893
497
249
177,173
26,238		 Actual
2022
KSh
31,563,135
4,815,969
11,194,645
1,873,095
2,024,542
422,050
7,253,375
5,407,060
45,306
-
33,036,042
(1,472,907)		 Actual
2022
£
212,593
32,438
75,402
12,616
13,636
2,843
48,855
36,419
305
-
222,514
(9,921)

Notes on pages 12 to 20 form an integral part of these financial statements.

Report of the independent auditor- page 5-7

8

95A

olS•kntkn•ph Rtyh¢•r•d TnMl•M IA1￿• Rryknj ftu•1ry￿l•￿d￿￿h1ItltsM•nts Fwth•)wr md¥d3l 0•¢th2Q23 STATEMENT OF FINAIKFAL posrrioN 2023 Ksh 2023 2022 Ksh 1.480.5&4 89.929,Xi7 91.410,(131 7,4LYJ 4￿1.c￿7 457,4 13CQ,(YJ1) 92,545.2CI) 92,237,1Qa 12,0761 623,338 621.262 NM4Umt Ihbllity 22.￿.141 113,710332 111.640 22.658.c￿l 114,195,110 152.613 569,136 773.875 89,929,507 1,666,670 91,596,177 450.087 8.341 458,428 92,545,2Q) 623.3>9 92.515,Xh) 623,338 Curn•nt•M•ts 381,294 18.011.723 4,573.016 22,9S5.533 62,351 ,4￿.698 2,524.276 23,077,523 420 138.016 17.Ci12 155.438 10. 9],144 22,887 114.939 12. 84S.478 4.232 727.613 N•t Gurr•nt ••••t* 22,120,055 110,708 22.349.910 19).537 113,716332 569.136 114895,110 773,875 Th slat•mwts ￿ P4es 8 b) a) m a&yo¥vJ TDAt••s on.40 .2024 •wJ sljmj M ts bewbr, Sr M&Jri￿ pknUr￿l R•gl(M•l L•idK & TnMt•• Margaret Br&J R•gk)n•l Burmr & TNIt•• 96A

Franciscan Missionaries of Saint Joseph Registered Trustees (Africa Region) Annual report and financial statements For the year ended 31 December 2023

STATEMENT OF CHANGES IN FUND BALANCES

Year ended 31 December 2023
At 1 January 2023
Surplus for the year
Fixed asset additions during the year
Depreciation charge for the year
At 31 December 2023
Year ended 31 December 2022
At 1 January 2022
Transfer (from) / to Capital Fund (Cost) - Note 6
Transfer from / (to) Capital Fund (Accumulated depreciation) - Note 6
Transfer from Accumulated Fund
Deficit for the year
Fixed asset additions during the year
Depreciation charge for the year
At 31 December 2022		 Accumulated
Fund
KSh
(308,091)
5,242,374
(3,453,699)
-
1,480,584
81,929,011
(87,357,262)
6,795,011
(201,944)
(1,472,907)
-
-
(308,091)		 Capital Fund
KSh
92,545,200
-
3,453,699
(6,069,392)
89,929,507
-
87,357,262
(6,795,011)
-
-
15,438,784
(3,455,835)
92,545,200		 Total
KSh
92,237,109
5,242,374
-
(6,069,392)
91,410,091
81,929,011
-
-
(201,944)
(1,472,907)
15,438,784
(3,455,835)
92,237,109

Transfer from accumulated fund relate to movement of capital funds reported in accumulated funds for the purchase of fixed assets. This is to reconcile the capital fund to property and equipment.

Notes on pages 12 to 20 form an integral part of these financial statements.

Report of the independent auditor- page 5-7

10

97A

Franciscan Missionaries of Saint Joseph Registered Trustees (Africa Region) Annual report and financial statements For the year ended 31 December 2023

STATEMENT OF CASHFLOWS
Note
Operating activities
Cash generated from / (used in) operations
13.
Net cash generated from / (used in) operating activities
Investing activities
Interest received
3.
Acquisition of fixed assets
7.
Increase in prepayments
8.
(Decrease) / increase in investment in money market fund
11.
Net cash used in investing activities
Financing activities
Decrease in designated funds
5.
Increase in capital funds
6.
Net cash used in financing activities
Decrease in cash and cash equivalents
Movement in cash and cash equivalents
At start of year
Retranslation difference
Decrease in cash and cash equivalents
At end year
10.		 2023
KSh
4,515,556
4,515,556
525,739
(3,453,699)
(1,666,670)
(2,048,739)
(6,643,369)
(351,860)
-
(351,860)
(2,479,673)
20,490,896
-
(2,479,673)
18,011,223		 2023
£
22,600
22,600
2,631
(17,285)
(8,341)
(10,254)
(33,249)
(1,761)
-
(1,761)
(12,410)
138,016
(35,462)
(12,410)
90,144		 2022
KSh
(2,047,189)
(2,047,189)
758,071
(15,438,784)
-
3,271,306
(11,409,408)
(16,232,507)
15,438,784
(793,723)
(14,250,319)
34,741,215
-
(14,250,319)
20,490,896		 2022
£
(13,789)
(13,789)
5,106
(103,988)
-
22,034
(76,848)
(109,334)
103,988
(5,346)
(95,983)
228,485
5,514
(95,983)
138,016

Notes on pages 12 to 20 form an integral part of these financial statements.

Report of the independent auditor- page 5-7

11

98A

Annual report and financial statements For the year ended 31 December 2023 Notes to The Financial Statements

Franciscan Missionaries of Saint Joseph Registered Trustees (Africa Region)

1. GENERAL INFORMATION

Franciscan Missionaries of Saint Joseph Registered Trustees is incorporated in Kenya under the Trustees (Perpetual Succession) Act chapter 164.

2. BASIS OF PREPARATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The financial statements have been prepared in accordance with the accounting policies as set out below. These accounting policies are in accordance with policies and guidelines of Franciscan Missionaries of Saint Joseph.

a) Income Recognition

Donor income is recognized when the monetary value of the donation can be measured with sufficient reliability, there is reasonable assurance of receipt and conditions for receipt, if any, have been met. Donations in kind whose monetary value cannot be quantified are not recognized as income. Income is mainly received from donations, salaries and stipends earned in the communities where Sisters work as nurses or teachers.

The Congregation also receives funds in form of contributions from the projects that are under their management.

b) Property and Equipment

All Property and equipment are initially recognized at cost and thereafter stated at historical cost less accumulated depreciation. Historical cost comprises expenditure initially incurred to bring the asset to its location and condition ready for its intended use.

Land is not depreciated.

Depreciation on other fixed assets is calculated on a reducing balance method to write down the cost of each asset to its residual value over its estimated useful life using the following annual rates:

Land
Buildings
Motor vehicles
Furniture and fittings
Equipment
Structure
Water tank
Computers		 Rate %
Nil
5
25
12.5
12.5
12.5
12.5
30

The assets' residual value and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting date.

Gains and losses on disposal of property and equipment are determined by reference to their carrying amount and depreciation are taken into account through the statement of income and expenditure.

c) Translation of foreign currencies

Transactions in foreign currencies during the year are converted into Kenya Shillings at rates ruling at the transaction dates. Assets and liabilities at the date of this report which are expressed in foreign currencies are translated into Kenya Shillings at rates ruling at that date. The resulting differences from conversion are dealt with in the statement of income and expenditure.

The rates used for translation of transactions and conversion of balances in Pound to Kshs were as follows;

Average exchange rate 2023
KSh
199.80		 2022
KSh
148.47

12

99A

Franciscan Missionaries of Saint Joseph Registered Trustees (Africa Region)

Annual report and financial statements For the year ended 31 December 2023 Notes to The Financial Statements (Continued)

d) Cash and cash equivalents

For the purposes of the statement of cash flows, cash and cash equivalents comprise cash in hand and deposits held at call with banks.

e) Taxation

No provision has been made for taxation in view of the nature of the organization.

f) Receivables

Receivables comprise prepayments and other receivables and are recorded at net realisable value. No provisions have been made in these financial statements. However, an assessment is made on the recoverability of receivables to determine provisions and write-offs required.

g) Payables

Payables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest rate method.

h) Retirement benefit obligations

The society and its employees contribute to the National Social Security Fund (NSSF), a statutory defined contribution scheme registered under the NSSF Act. The organization's contributions to the defined contribution scheme are charged to the statement of income and expenditure in the year to which they relate.

i) Designated funds

These are funds held for specific purposes and only to be used for that purpose.

j) Comparatives

Where necessary, comparative figures have been adjusted to conform with changes in presentation in the current year.

13

100A

Franciscan Missionaries of Saint Joseph Registered Trustees (Africa Region) Annual report and financial statements For the year ended 31 December 2023 Notes to The Financial Statements (Continued)

3.
Income
Grants and donations
FMSJ - UK (Mother House)
FMSJ - Kenya / Uganda
Member funding
Misean Cara
Alice Ingham Farm
ASEC
Catholic Scholarship
Lilliane Fonds / Chesire
Persons of Goodwill
Sisters' salaries
Contribution from FMSJ Projects
Interest income
Investment income
Sustainability income
Garden income
Foreign exchange gain
Other income
Donations in kind
Total income
4.
Expenditure
a.) Personnel
Staff capacity building
Staff welfare
Salaries and wages
NSSF employer contribution
Housing Levy employer contribution
NITA
Staff insurance
Total personnel
b.) Physical well being
Food
Household
Garden / farm expenses
Power and fuel
Security
Maintenance
Insurance
Sisters' expenses
Medical expenses
Personal allowance
Medical insurance
Physical well being - Other
Total Physical well being
c.) Mental well being
Recreation expenses
Books / periodicals / Subscriptions
Holiday
Education
Pre-Novitiate
Novitiate
Junioraite
Ongoing formation
Other
Celebrations / events
Professions
Jubilee
Sisters' celebrations
Others
Mental well being - Others
Total Mental well being		 2023
KSh
6,230,101
1,793,927
-
3,780,140
1,059,296
72,417
102,000
193,574
1,151,191
15,727,829
2,951,183
76,355
449,384
573,627
115,100
199,071
5,975,287
192,000
40,642,482
42,900
358,621
3,222,235
109,976
21,500
6,100
27,140
3,788,472
4,125,796
846,302
124,352
1,252,674
414,132
963,335
103,717
345,072
2,453,099
1,864,188
490,894
2,150
12,985,711
22,798
91,988
336,839
39,700
533,662
481,362
632,355
32,210
9,830
440,141
264,094
90,394
5,550
2,980,923		 2023
£
31,181
8,978
-
18,919
5,302
362
510
969
5,762
78,716
14,770
382
2,249
2,871
576
996
29,906
961
203,409
215
1,795
16,127
550
108
31
136
18,962
20,649
4,236
622
6,269
2,073
4,821
519
1,727
12,277
9,330
2,457
11
64,991
114
460
1,686
199
2,671
2,409
3,165
161
49
2,203
1,322
452
28
14,919		 2022
KSh
157,563
-
2,062,993
3,537,630
-
-
30,000
175,698
48,914
17,288,530
5,145,164
62,835
695,236
-
180,480
-
1,692,022
486,070
31,563,135
192,960
219,201
4,261,255
117,993
6,000
18,560
4,815,969
3,620,913
805,905
1,191,338
989,568
427,275
421,895
26,462
473,433
1,652,083
1,400,851
154,506
30,416
11,194,645
28,856
79,211
245,903
31,800
34,193
381,415
89,594
99,330
70,150
510,726
186,246
115,671
-
1,873,095		 2022
£
1,061
-
13,895
23,828
-
-
202
1,183
329
116,447
34,655
423
4,683
-
1,216
-
11,397
3,274
212,593
1,300
1,476
28,702
795
40
125
32,438
24,389
5,428
8,024
6,665
2,878
2,842
178
3,189
11,128
9,435
1,041
205
75,402
194
534
1,656
214
230
2,569
603
669
472
3,440
1,254
779
-
12,616

14

101A

Franciscan Missionaries of Saint Joseph Registered Trustees (Africa Region) Annual report and financial statements For the year ended 31 December 2023 Notes to The Financial Statements (Continued)

d.) Spiritual well being
Chapel
Pastoral expenses
Donation
Retreat and recollection
Spiritual direction
Sisters' welfare
Spiritual well being - other
Total Spiritual well being
e.) Sustainability expenses
Retirement expenses
Vocations promotion
f.) Administration
Transport
Motor vehicle running expenses
Motor vehicle insurance
Stationery / postage / printing
Telephone and internet
Professional / consultancy
Government documents
Bank charges
Dues and subscriptions
Other expenses
Office supplies
Withholding tax
Contribution to Region - FMSJ
Foreign exchange loss
Repairs and maintenance
Total Administration
g.) Governance
Audit
Meetings - Stakeholder hospitality
Planning and evaluation
Monitoring and evaluation
Seminars and workshop
Member funding
Land rates
Total governance
h.) Chesire / Lilliane Fonds
Administrative expenses
Travel expenses
School fees
i.) Luanda widows
Total expenditure		 2023
KSh
57,255
362,636
228,059
1,154,466
56,500
160,400
3,000
2,022,316
388,800
93,650
482,450
1,932,240
1,358,563
212,639
185,459
679,890
1,521,364
451,274
210,606
933,930
368,313
249,890
-
112,760
262
-
8,217,190
525,000
10,998
2,960,919
834,593
203,915
224,746
13,800
4,773,971
19,050
3,000
77,200
99,250
49,825
35,400,108		 2023
£
287
1,815
1,141
5,778
283
803
15
10,122
1,946
469
2,415
9,671
6,799
1,064
928
3,403
7,614
2,259
1,054
4,674
1,843
1,251
-
564
1
-
41,125
2,628
55
14,819
4,177
1,021
1,125
69
23,894
95
15
386
496
249
177,173		 2022
KSh
45,519
372,120
296,364
1,187,502
59,000
64,037
-
2,024,542
330,480
91,570
422,050
1,757,288
1,252,281
45,090
95,924
708,254
1,167,596
87,084
186,400
133,589
1,111,209
239,015
1,538
-
463,107
5,000
7,253,375
711,510
26,440
551,566
1,045,120
1,339,897
1,732,527
-
5,407,060
45,306
-
-
45,306
-
32,660,256		 2022
£
307
2,506
1,996
7,998
397
431
-
13,636
2,226
617
2,843
11,836
8,435
304
646
4,770
7,864
587
1,255
900
7,485
1,610
10
-
3,119
34
48,855
4,792
178
3,715
7,039
9,025
11,669
-
36,419
305
-
-
305
-
219,982

15

102A

Franciscan Missionaries of Saint Joseph Registered Trustees (Africa Region) Annual report and financial statements For the year ended 31 December 2023 Notes to The Financial Statements (Continued)

5.
Designated funds
i.) Convents
Our Lady of Divine Providence
Sub-total
ii.) FMSJ Projects
Cardinal Voughan Hope Centre
Marigat Catholic Mission Health Centre
Salawa Catholic Mission Dispensary
St. Francis Rehabilitation Centre
St. Joseph Rehabilitation Centre
St. Vincent De Paul Charity Program
Tuvumiliane HIV and AIDS Support
Mission Advancement Office
Sub-total
iii.) Individuals
Fr. Jim O'Connell
John Mary
Sub-total
iv.) Regional Office
v.) Non - FMSJ Projects
Chesire Disabilities
Ebukuya
EMP Feeding Program
EMP Kotido Nursery
EMP Luanda widows
EMP Misean Cara Kisumu / KUAP services
EMP Nyamira School
EMP Amani Nursery
Kotido Project
EMP Amani Catholic Academy
ECD Score
AOSK and CRS
Misean Cara Kisumu / KUAP - Other
St. Clare Nursery School - Kaile
Sub-total
This relates to balances of funds received from
donors for a specific purpose.		 2023
KSh
-
-
1,033,847
(54,888)
2,279,880
(209,665)
418,246
645,720
(211,015)
(118,649)
3,783,476
1,209,766
12,436
1,222,202
(3,318)
272
1,328,276
138,261
83,753
323,534
960
35,054
-
-
377,501
-
343,380
2,431,022
418,834
5,480,847		 2023
£
-
-
5,174
(275)
11,411
(1,049)
2,093
3,232
(1,056)
(594)
18,936
6,055
62
6,117
(17)
1
6,648
692
419
1,619
5
175
-
-
1,889
-
1,719
12,167
2,096
27,430		 2022
KSh
265,610
265,610
382,704
374,705
2,205,083
3,922
564,914
293,100
(291)
(113,939)
3,710,198
1,269,766
92,618
1,362,384
-
(120)
756,947
311,816
76,520
497,286
960
389,382
63,058
7,644
1,353,367
(156)
971
3,658,652
622,355
7,738,682		 2022
£
1,789
1,789
2,578
2,524
14,852
26
3,805
1,974
(2)
(767)
24,990
8,553
624
9,176
-
(1)
5,098
2,100
515
3,349
6
2,623
425
51
9,116
(1)
7
24,643
4,192
52,124

16

103A

Franciscan Missionaries of Saint Joseph Registered Trustees (Africa Region) Annual report and financial statements For the year ended 31 December 2023 Notes to The Financial Statements (Continued)

2023 2023 2022 2022
KSh £ KSh £
5. Designated funds (continued)
vi.) Regional Misean Cara Indirect Fund - - 62,040 418
vii.) Sisters
Sr. Ann Moore 737,683 3,692 894,851 6,027
Sr. Bernadette Nealon 1,326,782 6,640 704,833 4,747
Sr. Margaret Bradbury 61,189 306 198,643 1,338
Sr. Felistus Chesang 3 0 - -
Sub-total 2,125,657 10,638 1,798,327 12,113
viii.) FMSJ Restricted Funds
Development Fund 1,412,229 7,068 3,700,062 24,922
Retirement Fund 7,023,716 35,153 3,822,738 25,748
Staff Severance 559,211 2,799 197,961 1,333
Car Fund 216,998 1,086 - -
Medical Fund 485,123 2,428 - -
Sub-total 9,697,277 48,534 7,720,761 52,003
TOTAL 22,306,141 111,638 22,658,001 152,613
2023 2022
KSh KSh
6. Capital Fund
As at 01 January 92,545,200 -
Transfer from Accumulated fund (Cost) - 87,357,262
Transfer from Accumulated fund (Accumulated depreciation) - (6,795,011)
Fixed asset additions during the year 3,453,699 15,438,784
Depreciation charge for the year (6,069,392) (3,455,835)
As at 31 December 89,929,507 92,545,200
This fund represent the purchase and depreciation of property and equipment.
The transfer from accumulated fund relates to the movement of capital fund balances previously reported under
accumulated fund.

This has no effect on the financial statements.

17

104A

Total £ 692,383 (183,879) 23,262 531,768 69,045 (28,244) 40,880 81,681 450,087
Total KSh 102,796,046 - 3,453,699 106,249,745 10,250,846 - 6,069,392 16,320,238 89,929,507
Computers KSh 30% 1,450,146 - 65,500 1,515,646 803,467 - 213,654 1,017,121 498,525
Furniture
and fittings		 KSh 12.50% 792,040 - 200,100 992,140 252,499 - 92,455 344,954 647,186
Motor
vehicles		 KSh 25% 12,274,199 - 1,430,900 13,705,099 1,560,938 - 3,036,040 4,596,978 9,108,121
Kitchen
equipment		 KSh 12.50% 99,995 - - 99,995 12,499 - 10,937 23,436 76,559
Land
Structure
Buildings
Water
Tank
Office
equipment		 KSh
KSh
KSh
KSh
KSh		 NIL
12.50%
5%
12.50%
12.50%		 Cost At start of year
29,731,668
-
57,910,290
-
537,708		 Retranslation difference
-
-
-
-
-		 Additions
-
170,000
976,240 610,959 -		 At end of year
29,731,668
170,000
58,886,530
610,959 537,708		 Depreciation At start of year
-
-
7,464,352 -
157,091		 Retranslation difference
-
-
-
-
-		 Charge for the year
-
21,250
2,571,109 76,370 47,577		 At end of year
-
21,250
10,035,461
76,370 204,668		 Net book value
29,731,668
148,750
48,851,069
534,589 333,039		 The Structure above relate to car shade at Ingham House, Nairobi.

105A

Total £ 574,515 13,880 103,988 692,383 44,688 1,080 23,277 69,045 623,338
Total KSh 87,357,262 - 15,438,784 102,796,046 6,795,011 - 3,455,835 10,250,846 92,545,200
Computers KSh 30% 1,410,556 - 39,590 1,450,146 526,319 - 277,148 803,467 646,679
Furniture
and fittings		 KSh 12.50% 767,040 - 25,000 792,040 175,422 - 77,077 252,499 539,541
Motor
vehicles		 KSh 25% 2,700,000 - 9,574,199 12,274,199 1,181,250 - 379,688 1,560,938 10,713,262
Kitchen
Equipment		 12.50% - - 99,995 99,995 - - 12,499 12,499 87,496
Office
Equipment		 KSh 12.50% 537,708 - - 537,708 102,717 - 54,374 157,091 380,616
Buildings KSh 5% 57,910,290 - - 57,910,290 4,809,303 - 2,655,049 7,464,352 50,445,938
Property and equipment (Continued) Year ended 31 December 2022 Land KSh Cost
NIL		 At start of year
24,031,668		 Retranslation difference
-		 Additions
5,700,000		 At end of year
29,731,668		 Depreciation At start of year
-		 Retranslation difference
-		 Charge for the year
-		 At end of year
-		 Net book value
29,731,668
7.

106A

Franciscan Missionaries of Saint Joseph Registered Trustees (Africa Region) Annual report and financial statements

Annual report and financial statements
For the year ended 31 December 2023
Notes to The Financial Statements(Continued)
8.
Prepayments - AOSK Plaza
9.
Receivables
Staff debtors
Prepayments
10. Cash and cash equivalents
Cash at bank
Cash in hand
Card
M-Pesa
11. Investment
Money market fund
This relates to investment in Madison Money Market Fund.
12. Payables
Accounts payables
Accrued audit fees
PAYE
NHIF
NSSF
Housing Levy
Feeding program fund
13. Cash used in operations
Reconciliation of surplus / (deficit) to cash generated from operations:
Surplus / (deficit) for the year
Adjustments for:
Interest received
Transfer from accumulated funds
Changes in working capital
Other receivables
Other payables
Cash generated from / (used in) operations
For the purposes of the statement of cash flows, the year-end cash
and cash equivalents comprise the above;
The above relate to a Deposit of sh. 1,000,000 and monthly payments
of sh. 83,333 in exchange of shares in Association Of Sisterhood of
Kenya (AOSK) Plaza after its completion. The payments will be
converted to shares after a period of five (5) years.		 2023
KSh
1,666,670
71,867
309,427
381,294
17,744,668
213,341
84
53,130
18,011,223
4,573,016
36,000
609,000
68,740
6,000
8,640
10,140
106,958
845,478
5,242,374
(525,739)
-
(318,944)
117,865
4,515,556		 2023
£
8,341
360
1,549
1,909
88,810
1,068
0
266
90,144
22,887
180
3,048
344
30
43
51
535
4,231
26,237
(2,631)
-
(1,596)
590
22,600		 2022
KSh
-
1,995
60,356
62,351
20,214,540
256,416
1,793
18,147
20,490,896
2,524,276
-
609,000
-
-
-
-
118,613
727,613
(1,472,907)
(758,071)
(201,944)
177,135
208,599
(2,047,188)		 2022
£
-
13
407
420
136,155
1,727
12
122
138,016
17,002
-
4,102
-
-
-
-
799
4,901
(9,921)
(5,106)
(1,360)
-
1,193
1,405
(13,789)

14. Country of registration

Franciscan Missionaries of Saint Joseph is registered in Kenya under the Trustees (Perpetual Succession) Act chapter 164 and is domiciled in Kenya.

15. Presentation currency

These financial statements are presented in Kenya Shilling (KSh) and Pound.

20

107A

Total 2022 Kshs 457,563 - 2,062,993 3,537,630 - - 30,000 175,698 48,914 486,070 16,988,531 1,692,023 - 5,145,164 180,480 695,236 62,835 - 31,563,137 4,261,255 219,201 192,960 117,993 6,000 18,560 - 4,815,969 3,620,913 1,191,338 805,905 989,568 427,275 421,895 26,462 473,433 1,652,083 1,400,851 - 154,506 30,416 11,194,645
Total 2023 Kshs 5,140,519 1,793,927 1,089,582 3,780,140 1,059,296 72,417 102,000 193,574 1,151,191 192,000 15,727,829 5,975,287 573,627 2,951,183 115,100 449,384 76,355 199,071 40,642,482 3,222,235 358,621 42,900 109,976 21,500 6,100 27,140 3,788,472 4,125,797 124,352 846,302 1,252,674 414,132 963,335 103,717 345,072 2,453,099 1,864,188 - 490,894 2,150 12,985,712
St.
Bakhita
Muhoroni		 Kshs - - - - - - - - - - 804,100 - - - - - - 804,100 - - - - - - - - 283,375 - 42,771 23,760 - 4,940 - 55,000 22,885 142,200 - - - 574,931

Maria
Toto
Ngina
Ke'ekisii		 Kshs - - - - - - - - 500 - 444,284 833 - - - - - - 445,617 566 - - - - - - 566 222,742 8,092 44,186 25,475 - 5,661 - - 1,715 111,888 - - - 419,759
Our Lady
of Divine
Providence
Convent		 Kshs - 655,594 - - - - - - 4,000 - 1,014,574 - - - - - - 1,674,168 56,904 - - - - - - 56,904 263,713 2,000 68,629 103,690 - 28,080 - 18,000 12,720 147,000 - - - 643,832
St. Michael
Convent		 Kshs - - - - - - - - - - 1,118,937 - - - - - - - 1,118,937 99,552 - - - - - - 99,552 346,588 4,780 64,540 2,650 - 4,700 - 30,240 6,000 141,000 - - - 600,498
Amani
Convent		 Kshs - - - - - - - - - - 825,722 - - - - - - - 825,722 100,372 - - - - - - 100,372 201,160 - 64,948 61,724 - 31,258 - 1,250 1,200 99,000 - - - 460,540
St. Clare
Convent		 Kshs - - - - - - - - 9,370 - 1,166,741 - - - - - - - 1,176,111 173,292 - - - - - - 173,292 244,526 26,370 81,538 102,192 - 9,380 - 18,000 57,262 137,300 - - 1,950 678,518

St.
Theresa
Convent		 Kshs - - - - - - - - - - 1,340,437 - - - - - - - 1,340,437 99,312 - - - - - - 99,312 350,813 12,500 75,949 132,951 119,292 24,120 - 1,510 52,175 186,400 - - - 955,710
St. Francis
Convent		 Kshs - - - - - - - 89,680 - - 877,446 33,252 - - 100 - - - 1,000,478 122,946 - - - - - - 122,946 237,225 42,040 37,608 73,050 - 7,300 - 57,000 1,545 106,800 - - - 562,568

St. Joseph
Convent		 Kshs - - - - - - - 84,600 - - 1,827,274 10,700 - - - - - - 1,922,574 110,532 - - - - - - 110,532 478,640 1,060 111,149 163,504 114,840 27,350 - 40,718 68,710 179,600 - - - 1,185,571
Holy Family
Convent		 Kshs - 600,000 - - - - - - - - 1,072,382 - - - - - - - 1,672,382 188,512 - - - - - - 188,512 222,286 - 39,977 120,775 - 599,620 - 9,500 4,940 114,000 - - 200 1,111,298
Rochdale
House		 Kshs - - - - - - - - - - 497,150 - - - - - - - 497,150 - - - - - - - - 134,963 23,250 21,212 18,000 - - - 2,280 1,670 77,000 - - - 278,375
Novitiate Kshs - 450,000 - - - - - - - - - 5,650 - - - - - - 455,650 - - - - - - - - 8,214 - 1,850 - - - - 57,063 55,380 - - - - 122,507
Ingham
House		 Kshs - 88,333 - - - - - - - - 2,730,656 - - - - - - - 2,818,989 381,617 - - - - - - 381,617 1,115,259 2,260 190,845 359,778 180,000 9,850 - 26,040 2,960 341,000 - - - 2,227,992
Mission
Advancement
Office		 Kshs - - 1,089,582 3,780,140 - - - 19,294 - 192,000 - 20,397 - - - - - - 5,101,413 1,578,000 355,521 42,900 15,120 11,310 500 - 2,003,351 - - - - - - - - - - - - - -
Regional
Office		 Kshs 5,140,519 - - - 1,059,296 72,417 102,000 - 1,137,321 - 2,008,126 5,904,455 573,627 2,951,183 115,000 449,384 76,355 199,071 19,788,754 310,630 3,100 - 94,856 10,190 5,600 27,140 451,516 16,293 2,000 1,100 65,125 - 211,076 103,717 28,471 2,163,937 81,000 - 490,894 - 3,163,613
Statement of Income and Expenditure Income Donations and Grants - FMSJ - UK Donations and Grants - FMSJ - Kenya / Uganda Member funding Misean Cara Alice Ingham Farm ASEC Catholic Scholarship Lilliane Fonds (Cheshire Disabilities) Persons of Goodwill Donations in kind Sisters' salaries Other income Sustainability income Contribution from Projects Garden / farm income Interest on investment Bank interest Gain on foreign exchange Total Income Expenditure Personnel Salaries and wages Staff welfare Staff capacity building NSSF Employer contribution Housing Levy Employer contribution NITA Staff insurance Total Physical well being Food Garden / farm expense Household Fuel, power and water Security Maintenance Insurance Sisters' expenses Medical Personal allowances Water Medical insurance Physical well being - Other Total

108A

Total 2022 Kshs 28,856 79,211 245,903 31,800 34,193 381,415 89,594 99,330 70,150 510,726 186,246 115,671 - - 1,873,095 45,519 372,120 296,364 1,187,502 59,000 64,037 - 2,024,543
Total 2023 Kshs 22,798 91,988 336,839 39,700 533,662 481,362 632,355 32,210 9,830 440,141 264,094 89,895 - 6,050 2,980,924 57,255 362,637 228,059 1,154,466 56,500 160,400 3,000 2,022,317
St. Bakhita
Muhoroni		 Kshs - 4,850 43,700 - - - - 25,550 - 10,500 13,288 - - - 97,888 - 960 - 400 30,000 - 3,000 34,360

Maria Toto
Ngina
Ke'ekisii		 Kshs - - 3,497 - - - - - - - 7,709 - - - 11,206 2,314 - 6,610 - - - - 8,924
Our Lady of
Divine
Providence
Convent		 Kshs - 10,783 20,250 - - - 10,000 - - - 37,334 1,075 - - 79,442 4,096 75,387 1,000 14,800 - 7,000 - 102,283
St. Michael
Convent		 Kshs - - 10,000 - - - - - 2,500 - 6,000 - - - 18,500 7,750 90,790 11,692 18,500 4,000 - - 132,732
Amani
Convent		 Kshs - - 73,500 - - - - - - - 23,000 - - - 96,500 1,900 - 1,650 31,500 - - - 35,050
St. Clare
Convent		 Kshs - 1,000 20,000 - - 16,000 - - 1,500 1,320 1,550 - - - 41,370 3,360 - 1,700 13,940 - 35,000 - 54,000
St.
Theresa
Convent		 Kshs - 9,034 24,500 1,200 2,000 27,000 - - - 1,500 1,000 - - 5,550 71,784 4,100 - 9,500 - - 32,400 - 46,000
St. Francis
Convent		 Kshs - - 2,000 - - - - - - - 23,000 - - - 25,000 3,700 - 84,650 - - 26,000 - 114,350
St. Joseph
Convent		 Kshs 1,745 - 26,900 26,000 - 10,000 - - 2,500 - 57,091 - - - 124,236 8,075 - 5,500 88,000 - - - 101,575
Holy
Family
Convent		 Kshs - - - - - - - 3,000 - - 30,033 5,500 - 500 39,033 8,110 106,500 - 28,000 - - - 142,610
Rochdale
House		 Kshs - - 11,000 - - - 86,650 - - - 18,812 - - - 116,462 2,100 - 8,000 - - - - 10,100
Novitiate Kshs 19,776 - 1,000 - 79,662 - - - - - - - - - 100,438 650 - 10,504 20,500 22,500 - - 54,154
Ingham
House		 Kshs - - 12,000 - - - - 3,660 - - - 79,820 - - 95,480 10,500 - 20,253 1,000 - - - 31,753
Mission
Advancement
Office		 Kshs - - - - - - - - - - - - - - - - - - - - - - -
Regional Office Kshs Statement of Income and Expenditure (Continued) 1,277 66,321 88,492 12,500 452,000 428,362 535,705 - 3,330 426,821 45,277 3,500 - - 2,063,585 600 89,000 67,000 937,826 - 60,000 - 1,154,426
Mental well being Recreation expenses Books / periodicals / Subscriptions Holiday Education - Pre-Novitiate Novitiate Junioriate Ongoing Other Celebrations / events - Professions Jubilee Sisters' celebrations Other Funeral expenses Mental well being- Other Total Spiritual well being Chapel Pastoral expenses Donations Retreat and recollection Spiritual direction Sisters' welfare Spiritual well being - Other Total

109A

Total 2022 Kshs 91,570 330,480 422,050 1,757,288 1,252,281 45,090 95,924 708,254 1,167,596 87,084 186,400 239,015 133,589 1,111,209 1,538 - - 5,000 463,107 7,253,375 711,510 26,440 551,566 1,045,120 1,339,897 1,732,527 - 5,407,060 45,306 - - 45,306 - 33,036,038
Total 2023 Kshs 93,650 388,800 482,450 1,932,238 1,358,570 212,639 185,459 679,890 1,521,364 451,274 210,608 249,890 933,930 368,313 - 112,760 - - 262 8,217,197 525,000 10,998 2,960,919 834,593 203,915 224,746 13,800 4,773,971 19,050 3,000 77,200 99,250 49,825 35,400,114
St.
Bakhita
Muhoroni		 Kshs - - - 43,816 - - - 48,000 - - - - 11,900 463 - - - - - 104,179 - - - - - - - - - - - - - 811,358
Maria Toto
Ngina
Ke'ekisii		 Kshs - - - 1,000 999 - 1,182 1,698 - - - - - - - - - - 262 5,141 - - - - - - - - - - - - - 445,596
Our Lady of
Divine
Providence
Convent		 Kshs - - - 24,500 53,860 - 2,090 71,351 - - 6,027 - - 420 - - - - - 158,248 - 4,000 16,000 - - - - 20,000 - - - - - 1,060,709
St. Michael
Convent		 Kshs - - - 200,715 15,050 - 150 55,200 - 4,000 8,875 - 28,211 - - - - - - 312,201 - - - - - - - - - - - - - 1,163,483
Amani
Convent		 Kshs - - - 49,400 - - 350 69,600 - - 4,074 - 7,666 1,365 - - - - - 132,455 - - - - - - - - - - - - - 824,917
St. Clare
Convent		 Kshs - - - 177,360 - - 40 38,199 - 1,200 5,651 - 2,100 7,575 - 2,010 - - - 234,135 - - - - - - - - - - - - - 1,181,315
St.
Theresa
Convent		 Kshs 900 - 900 86,640 16,700 - 6,286 61,289 - - 3,282 - - 7,250 - - - - - 181,447 - - - - - - - - - - - - - 1,355,152
St. Francis
Convent		 Kshs - - - 69,150 43,000 - 4,126 43,140 - - 7,939 - 5,076 - - - - - - 172,431 - - - - - - - - - - - - - 997,295
St. Joseph
Convent		 Kshs - - - 301,940 - - 410 63,547 - - 4,073 - 2,256 - - 3,500 - - - 375,726 - - - - - - - - - 3,000 77,200 80,200 49,825 2,027,665
Holy
Family
Convent		 Kshs - - - 53,650 48,500 - 26,445 55,900 - - 3,070 - - - - - - - - 187,565 - - - - - - - - - - - - - 1,669,018
Rochdale
House		 Kshs - - - 13,530 37,405 - - 32,000 - 950 4,021 - - - - - - - - 87,906 - - - - - - - - - - - - - 492,843
Novitiate Kshs - - - 49,485 102,500 - 10,729 12,400 - - 4,519 - - - - - - - - 179,633 - - - - - - - - - - - - - 456,732
Ingham
House		 Kshs - - - 29,731 16,040 - 2,724 3,300 - - 5,348 - - - - - - - - 57,143 - - - - - - - - - - - - - 2,793,985
Mission
Advancement
Office		 Kshs - - - - 1,680 - - 56,482 1,521,364 - 13,232 249,890 - 117,476 - 107,250 - - - 2,067,374 - - - 669,860 189,300 - - 859,160 19,050 - - 19,050 - 4,948,935
Regional
Office		 Kshs Statement of Income and Expenditure (Continued) 92,750 388,800 481,550 831,321 1,022,836 212,639 130,927 67,784 - 445,124 140,497 - 876,721 233,764 - - - - - 3,961,613 525,000 6,998 2,944,919 164,733 14,615 224,746 13,800 3,894,811 - - - - - 15,171,112
Sustainability expenses Vocation promotion Retirement expenses Total Administration Transport Motor vehicle running Motor vehicle insurance Stationery / printing / postage Telephone and internet Professional / consultancy Government document Bank charges Office supplies Dues and subscriptions Other expenses Withholding tax Contribution to Regional office Domain registration and maintenance Repairs and maintenance Foreign exchange loss Total Governance Audit Meetings - Stakeholders Planning and evaluation Monitoring and evaluation Seminars and workshop Member funding Land rates Total Chesire / Lilliane Fonds Administrative expenses Travel expenses School fees Total Luanda Widows Total Expenditure

110A

Total 2022 29,731,668 50,445,937 539,541 380,618 87,496 10,713,261 646,679 - - 92,545,200 - 1,995 20,214,541 256,415 1,793 18,147 60,356 2,524,276 23,077,523 115,622,723 (308,088) 92,545,200 22,657,998 - - 118,613 - - - - - 609,000 727,613 115,622,723
Total 2023 Kshs 29,731,668 48,851,069 148,750 647,185 333,041 76,559 9,108,121 534,589 498,525 89,929,507 1,666,670 71,867 17,744,668 213,341 84 53,130 309,427 4,573,016 22,965,533 114,561,710 1,480,584 89,929,507 22,306,141 36,000 0 106,958 - 68,740 8,640 6,000 10,140 609,000 845,478 114,561,710
St. Bakhita
Muhoroni		 Kshs - - - - - - - - - - - - 14,373 - - - - 14,373 14,373 14,373 - - - - - - - - - - - - 14,373
Maria Toto
Ngina
Ke'ekisii		 Kshs - 5,967 - - - - - - - 5,967 - - - 226 - - - - 226 6,193 226 5,967 - 0 - - - - - - - 0 6,193
Our Lady of
Divine
Providence
Convent		 Kshs - - - - 23,334 - - 534,589 7,326 565,249 - - 4,294 5,396 - 656 - - 10,346 575,595 10,346 565,249 - - - - - - - - - - 575,595
St. Michael
Convent		 Kshs - - - - - - - - - - - - 2,344 714 - - - - 3,058 3,058 3,058 - - - - - - - - - - - 3,058
Amani
Convent		 Kshs - - - 591 2,374 - - - - 2,965 - - 762 866 - - - - 1,628 4,593 1,628 2,965 - - - - - - - - - - - 4,593
St. Clare
Convent		 Kshs - - - - 6,291 - - - - 6,291 - - 1,946 15 - 371 - - 2,332 8,624 2,634 6,291 - - - (301) - - - - - - (301) 8,624
St. Theresa
Convent		 Kshs - - - - - - - - - - - - 1,169 548 - - - - 1,717 1,717 1,717 - - - - - - - - - - - - 1,717
St. Francis
Convent		 Kshs - - - - - - - - - - - - 2,372 4,941 - - - - 7,313 7,313 7,313 - - - - - - - - - - - - 7,313
St. Joseph
Convent		 Kshs - 6,746,526 - - - - - - 3,962 6,750,488 - - 31,198 50,992 - - - - 82,190 6,832,678 (25,069) 6,750,488 - - - 107,259 - - - - - - 107,259 6,832,678
Holy Family
Convent		 Kshs - - - - - - - - - - - - 18,411 6,618 - - - - 25,029 25,029 25,029 - - - - - - - - - - - - 25,029
Rochdale
House		 Kshs - - - - 5,762 - - - - 5,762 - - 10,888 3,655 - - - - 14,543 20,305 14,543 5,762 - - - - - - - - - - - 20,305
Novitiate Kshs - - - 7,972 - - - - - 7,972 - - 10,276 40,298 - - - - 50,574 58,546 50,574 7,972 - - - - - - - - - - - 58,546
Ingham
House		 Kshs - - - - - - - - - - - - 26,483 787 - - - - 27,270 27,270 27,270 - - - - - - - - - - - - 27,270
Mission
Advancement
Office		 Kshs - - - - 61,431 - - - - 61,431 - 22,507 610,520 2,078 - - - 635,105 696,536 505,585 61,431 - 36,000 - - - 68,740 8,640 6,000 10,140 - 129,520 696,536
Regional Office Kshs Statement of Financial Position 29,731,668 42,098,576 148,750 638,623 233,849 76,559 9,108,121 - 487,237 82,523,383 1,666,670 49,360 17,024,005 81,834 84 52,103 309,427 4,573,016 22,089,829 106,279,882 841,358 82,523,383 22,306,141 - - - - - - - - 609,000 609,000 106,279,882
Non - current assets Property and Equipment Land Buildings Car Shade Furniture and Fittings Office equipment Kitchen equipment Motor vehicle Water tank Computers Total non-current assets Other non-current asset Prepayment - AOSK PLAZA Current assets Staff debtors Cash at bank Cash in hand Card M-Pesa Prepaid insurance Investment Total current assets Total assets Fund Balance and Liabilities Accumulated Fund Capital Fund Designated Funds Current Liabilities Accounts payable Soft loan Feeding Program Fund Net Pay payable PAYE payable NSSF payable NHIF payable Housing levy Accrued Audit fee Total current liabilities Total Fund and liabilities

111A

The Franciscan Missionaries of St. Joseph
Income for the Year Ended 31 December 2023
Ecuador Region
Salaries and Pensions
Salaries
Voluntary Contributions
Financial Receipts
Bank Interest Received
Sister House Income
Sale Proceeds from Santa Clara House
Total Income for the Year
2022
£
1728
46624
1367
-
49719
-
£
919
60003
1534
98
-
62554

112A

The Franciscan Missionaries of St. Joseph
Expenditure for the Year Ended 31 December 2023
Ecuador Region
Education and Tuition
Sister House Expenses
Establishment Expenses
Office Expenses
Travel
Donations
Financial Expenses
Bank Charges
Professional Fees
Exchange Adjustments
Formation
Contribution to External Programs
Total Expenditure for the Year
Surplus/(Deficit) for the Year
-
44942
-
1586
2022
£
(10780)
(8503)
81
-
3251
4837
876
1401
41357
8362
49719
£
-
5196
(693)
937
60
1122		 £
-
46094
6133
489
-
-
52716
9838
62554

113A

The Franciscan Missionaries of St. Joseph

Balance Sheet as at 31 December 2023

Ecuador Region

Capital Account
Capital as at 1 January 2023
Add Transfers from U.S.A.
Less Transfer to Maintenance Reserve
Surplus/(Deficit) for the Year
General Funds
Maintenance Reserve
Total Funds
Represented By
Cash and Bank Balances
Monies Held in UK
107784
196096
£
86911
-
99422
8362
196096
88312
2022
88312
107784
12511
99422		 £
107784
18766
126550
(9279)
117271
9838
127109
98034
225143
127109
98034
225143

114A

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023

Ecuador Region

1 Transactions with other Regions

Income and expenses of the Region which have been transacted through the United Kingdom Central Fund and which are not therefore included in the Regional account were as follows: -

2023 2022
£ £
Pensions Received 2166 5633
Voluntary Contributions 36968 32751
Expenses 550 -

Voluntary Contributions include monies raised for external programmes.

2 Tangible Fixed Assets

The cost of property and other tangible fixed assets purchased by the Region is written off to expenditure in the year in which it is incurred .

This policy is considered appropriate given the political instability of the region.

3 Foreign Currencies

Transactions conducted in American Dollars are converted into Sterling at the average rate of exchange during the year. Assets and liabilities are converted at rates of exchange ruling at the balance sheet date.

115A

The Franciscan Missionaries of St. Joseph

Notes to the Accounts for the Year Ended 31 December 2023

Ecuador Region

4 Maintenance Reserve

The Ecuadorian Retirement Fund investments were held in a dedicated account managed by Wells Fargo in the USA. In March 2020 the fund was relocated and is now held in the UK Central Fund. All the investments were sold and the resulting cash balance was transferred to the UK on 5 March 2020.

Balance as at 1 January 2023
Movement in value of funds Surplus/Deficit
Add Annual Supplement
Transferred from Ecuador Region
Investment Management Charges
Monies Donated by USA Area
Exchange Adjustment
Balance as at 31 December 2023		 £
2023
-
-
-
98034
9279
88312
443
-		 2022
£
88188
-
124
-
-
-
-
88312

116A