Congregatlon Of The Daughters Of The Cross International Annual Report and Flnancial Statement8 31 [knr 2023 Comkwy LNnrtedbyQrnr Chariiy Reual NunbeT1142490
Conterrts Refemce and adryinistrative details ofthe charity. ts trusiees and advisers Trustees, report Chant?bk obiectNesand actlvlmes Achievements andperfonnance ans forfuture periods 10 SfnrtLKe. Govemance andManagennI 11 statementof Ttees, responsiiw"lth"es 11 lThJewdent audiiorfs POrt 13 Fln*ndal statements statament offirwicial activities 18 Balartt sheet 20 statement ofca5h fltxs 21 PrinpaI nb.ng pleS 22 Notes to Ihe firal statements 25 Congregation Of The Daughters The Cross Intemational
teronMart¢o¢minlsirallw ififorthaiio 8iJkr MaYMGL4lffjho &ateT Kkureen O'Brlen steF Vaterig InI& Peter co15 FCA" BuTsarGthwrnl ofth¢ thbllMg•llm &8terJOsopNng Ilpzabl Rel1¢tOd¢è Gfo BuzzAtty LLP 1>) wlood Str EC2V 6DL Cothpary w151rnltpn nwnb* 07S6&199 Fnglafvj and WB) Auditor LLP 130 WO Styeet EC2V fjDL Bankets N#lWe6t B8nls plc LoAd Sglldtor• Stone )ng LLP £ad QuayHL4U• BSI 4DJ Qongr8g8ilrm OfThfrtrwiers (XTn8 cross IMemguoJkg11
Trustsw. feport 31 D[¥ 2023 The INBlees presènt their statrrtory retxyt (which also eonsfftutes a reCtorS, rewi for the purFosesof o)mpany MY) togelherwrth the flnancl816taternents of Ihe Cèrwegatlon OfThe Daughlern OITh Cfots IntThtional Ithe"CharRf) the ended 31 OecembEr2023. Thts flnan¢lg1 tement8 beeTJ prepared In acran[W1th thg a¢nIng pollclè8 Set out on pages 22 to 24 of Ihè attached flnancial Statements and conlply wlth the Ch?rW$ Memorsndum and Artld88 olAs£o¢iatl)n, 8ppYl¢able and A¢u)unllvA and RrtIng ty Charltlgs: Statement of Recommended prqice applIcae lo oharlt(B¥ prpparing arwints in ar[dan(2 with the Flnanclal Reporting Slandard appllrAble (n the Unlterl Klngdom ar Republk tsf Ird&nd {FRS 102). charItab objo¢tlves and aetlvltl The CoNJregatknn of the Daughter8 oflhe Cr055 of ege (Ihe cA}natiOn.). Is a Roman Calhtslic RelIgi CoThJregalion fouhded In 1833 in Li Belgium. The CongregatK)n's prfnclpal objeBlives sel out in Ils Corthibn are lo lt91n and oth¢r charilable work. In partIGu1art rnlsef of poverty and Ihe Supwk ofthcee on the margin8 of 50Th0ty. Within thg Congrega.On wortthvile ther@ are wen Provinces, Reuions and Communities IGErmany and Rome) under thè Generalate, Is the ctraI gov8mmenl I Ihe org8ni%8lhJn based in Rome. 11a. The Generalate comptse5 the 5upertor General and her Coundl. and the Superfor Germrol and three nMbers Councll are trustees of Ihe Charity. AB at 31 D8cember 2023 Ihere wer• e68 SIsrs 12Q22.' 882) within the Con9regatiDn Iving wpthng around thè world. The Suptwior General b rsspons¥re lo Ihe Holy In Rome. Italy. Tho Charity waB omglnally established to be thB IBu418ntity whith èmbTa¢8d all aGtlvitse# of a Cèntral Government fora wartd-wide Congregation and when ihe Generalate nThed 10 Rome, Ilaty, Ih? charity became a granl-rnakl ¢harAty. Sts obie¢ts rornaln unchanged- to advancè roligion forlhe btrn&fit C)f Ihe publlo In wticular bul not Ihnfted to. by SUP[rt(j the haritslk WOFKF ¢arrted oul or suppxtsd arwnd the wortd by member8 ofthe Con9regaUon and by the f0miallr and Iralning of the members oflhe Ccngregatlon. The Charity make8 grants In the ftlloW wa, 8y financing Ihg Gen?r&lato and Its supwt COmnnty In Rorm. Byfundlnothew0, and the prole¢t w1ch enhNnee l. of the SLster8 and Ih01r acffiithes provk11 forth¢kbeneffidaries. By relivrfin9 poverty. distr8$s ènd suffn0 among wtykls dePfv And rwthy people tyway ofgranl fundlng, elm2T th9h the Stsle¥s' w(4k or dlwuy. In order fo the bentrfts thatthegrants generate, ngcessary io de8¢rfbe the work oflhè G8nèr8le and the Sisters and UMS Is done bebw. Congregation OfTre Daughters 01 The Cross Intematkjnal 2
Tt, rwt 31 D•rnbel 2023 Charitable oW•¢tl¥eJ and a¢llvltlelwrtinued) Thè Cowegth is deepty tj in thè Paxhal myskry of the Pas6rm, Death and Res tsf Jesus Chrfst and bullt on AB tra(IIIDn of ¢Are, 8LPP)rt oimpassitm for IIThevrteyRakèStaTrJ1O5l vulneRbl&ln ourwoTld. theCrffiDreu8tlDn CODbnue8towo In ex>wrtiies y4h•re peopl• ar¢ in povetyand on th• rwlntsolsociety. ThefwndFrol eare. nuyslnu and edueatk)n a& inthe C0ngr•patknn IrtdUdod novmkol mwo and lh¢ and Ihwr ¢worth intinUe to be cur¥nllt8d to the 7hvrk (I general and sperial 4du¢atk)n, the cwe of the ck. and pgstoral work. the rntl¢f of povety arrfl 8ufrwll. and Ihe of womon glrfj. e9per In tANth Ih•y The Gprnral. dthe Stslets ii18Adèrship rthttion& ermtirw to ways offu1finln Ihew 0cts In Ihts f of the ntinuIng chalkng05 of thr incrnaslng age wofile and thè In the number018lste In the WeBtwn Provthc prtnopd ofth¢ certe i¥)bw Ihe + supwt ofthB Y01 si8lwsl1l$8h • support ofts y[¥&Ja Conwegall(ffi,' and 6UPPDrtrA (¥Fwvrker& vc4ufitoèr8 and a68(lates ofthe Congrwlon. Ir• auihorfskng grant•, th? truBtees tlw quklaRco of the COrmthk on t iYovNon ofpubltc b)6fi1and thgyei>nstdèrhow thay wtll tlibLal0 me•liryJ the Chan9 objècts. In fDJwldering pot¢rnial8rants, thetru¥tre¢ 4reawaTethatthe ConoregaUonforJJse¥ ¥eMce5 lh delpier the eate# impa¢1 to n£t vthe1ab children and adurts in and donat5. In MIln em8 (th¢seaT¢genBTaltyhd¢veloWroc(Ame&0r In remoteartasofe8lablL4hed ¢ounlrieg) Ihè Slsters Sel uptrainirYJ prowamm89 wFl¢ enabl8 lh• P>Pl? they Involved wlth to bg(y)me a# s¥1PBUfflelll a5 PO¥8tble. Slster¥ stth ahvay¥ to DffgrassL8tance by Investlng In proJecblhAt gfyve peryle supWtd s113 Iheyneed totwn twlrfe around. In Indla 8YKI Pakistan. the Slstw¥ have ap set up cartFes of ex¢ellerTh In the fjekl of edItIon. medal training f•Blitte¥. 08 w•ll a8 carn centres offerthg lIV0t Support an(1 a ¢arlng Se tsr the dtsanbJed and martynaliud tn SLKlety. Ttr Conwegalleffi upholdJ Ihp g)IiYnoYJ ojmmllmont to 8afeguardhYJ a8 an Intsural part of thè lrfe and minisby gf all Its men*ern and Ihls 19 refl8eled kn it$ Mm11meThI tr> th¢ $af•9uarfFng ¢1 rhlldren, yOllDJ People and who be al Msk T1 Congregatknn, ptsIleS and protèdureg are and updated 88 n&Sry. In all Ihe Congwalton is 6818blAhtd Ihe Slster8. Iheir stsff. and volunteeFS adhore to the gLthlrte$ of the Catmlc Churth and lo thè national in Iho80 ¢DUrtries. Cowogafjon OfThe Daughters or Closs Intsmat1è] J
TNs¢ees' r¢pLt 31 December 2023 harftabl• obAeGliYe¥ and actlvhlps (oxrtlnu•d} In the differèni Rwn$ Ènd COMM1.85 uNlw Generalale of thè Congwuon.. those In leader¥hlpposlliuns alm ¢0 Ensu thstall polibies and PTrtethir8¥ ar¢ In place lo emble the gafe managemenl of ft8 opeTrtlons and Ihe safety of all to wlwxn the Congregatk>n i¥ ¢fftrin9 q W¥iO•. AS well a8 Supportlng Ihg wak& Ihe Gell¢ralal¢ a150 h8# a rISn51111ty to ensure that Sisters have the necessary caT8 as they ao8 and rettre from maknstream acllvlty. Thtsse sbtern have ¢ontrlbutsd to tho aT¢S oflhe ccOregatson for m051 of Iheir adult INes b, ag Ihoy take 8 v¢Av of poverty. IhEy havè no Money of th•lrovm. and Ihe GenEralaie has a reBpDMibJityloen9urethat thoy w¢ prOvidedfrithin trir cwn Communibes. AJihDugh nol worklrw in ttt¢ malnstream. Iheoe Si8ter8 have a vaol erIenCe of the wyjrk, and thèy etintinue to help, advlse and 8LPPOrt the younoer Sl&t8r& In thelr S111e$ oskr as each tyne TheCongrWion'g ltsnpèr4erni0bjectiS¥rÈSt8t6ath Gènernlchapterwhich lake&lace every years. One of the Charws re¢lIVeS IB tO.conUnue to ¥upport ts Congregation, and to SUPPDrtthe Generalate in its work to fulfil ts oF4'ectNes set al Ihe General Chaptsr in May2018. The next General Chapterwill take Ja¢• in May 2024. Gfyneralate Vlsits andMoedng$ Tht Generalalè team pport the woddwido Congrega¢ion by.. canonical wsmaln9' monil(4lng PToiads and AVI¢S thro1 the year organiglng NaOal and Intematlonal meetlngB. oonlerenees a1 workshops whlth brfnu many of the Conuregation's ma)kners tOBethpr 8eYerai llme8 a year., tsGil'rtatlnB and promDlng MmUnICatIon and dlalogue al •ll 18ve15throughoutihe Ccfflgreglllon. SplriDJalirpul plays an ImpnI part Inthese mee11r. Sister¥ and Ihetr cworker$ keep up to dal• in thelr wofe8Sion81 practicg enring thal a culiute of l%sl praclc8" 1$ manlalned In all of Ih&r e1hlIts. Thb Is ¥erlfied by the exealknnl r•p)rts recwed from social $wvth&. h[th aNI edueational aullwth88. 0Ing thèir sk<-year term of office, the Superior G8nerg1 ond her Cound carry oul programm? ofp•stora5 aTrJ ¢anonlcal v18itAttoD8 ofth• and Reolon& ThW givathgm theopportunityioa&£essandmonltvrtheworkof thèCongr•gatninth#1PartlJaI reglon, whtth Is JlknqUbnlly reportgd b thè tru$tee5. In developlng wuntries, thwe someUme5 the need b gxpatsa the WOTk w establish mL**ons or. $70n11Y, to hand over toa locql chartywhl¢h h?6 th? neceB6aryskiils to ¢ary on Ihe workwithoutthe $upwrt oftheSbtsr& In the ¢Jevdoph)g the Congregallon l• attra1n9 nsw v£¢atlon¥. Ihe vdts the Supgriry Gpmeral can be an important eventond a Ime to ¢elebTate the athle¥nIS of tht new Communiticj andthe iniliation of newmembers.lnto the CongregatEon. Congregation Of The Dau9htarg OfThè Cross Intsmatk)nal 4
clwl1thoCliV•s anrl a¢ll¥itlts <(7111) Tr•knlnA TrusteES ktOdleIn variMww-bYseèkingad¥ic•fr(mthdradT8. byalteThJhg cow6es events. tymeeing 0therprofvs8kn$ in Ihe 8reaB crfsafeouardthg. H8a#h and Saw and reld matt&rs. The Si8tertru6tee8 olw wn%1 othern kn slmH¥ Situauong to W$UT&ll1 they keep up kn date wlh current w. New"IN8lee$ aro Ihe OppInIty to attend Tithshops and training to ensure thal Ihey have the relevwrt S1 aj knwlodlle to thelttde a8 Intslae3 of thè Charly. Tha QnerAlate andthe Slster4 In leader¥hip po3lUon3 In the Provlnoes k•ep updated on th 9[no TeguFallro% arKI tsgk%181ion wthln Ihdr IntrIes. ty attenthg workshops and ¢ourses, esped8llyon Satsguading anLIHeallhaThl Safdy.ThEyalBDSetwreleya)tPditxe6 a1 Prredw06 as requlred ty thil aullwiie& in Ihatlxatntry. Thb 1rust me81 e year In Engd 6n thp Bprkng P&ib]rM arKI Imve onllne Th&13ewal Flnance Commllts¢ 18 an l17C aèt w•bythe Gentrdate lo wpurt and advlse Ihe Chaifty and th8 G&ralate ffin8ne4al and affalrs. It meetsiGe.a y¢at in SwKig Aubjmnto wknrAdgWith the tre meetinp9. It8 fflemlxr& 8ie the trues, a Generalate Sister arnl othw * men¥ws drawn from malnll, financial. Thp Charity made grant8 totsinng £353.3&7 durinu the year (2ff22:.£1,290,iJ091. Ihe m4orNy ofwhleh were spent$UPPDrtlng thè Daughters oftht Cmss around thBWrtd. Of toial. Ihe Generalatè recelved tolal grants arnountirvJ to E264,00012022'. £2rf3.OCQI wNoh helped to meetlhe running costs oftho t3eneral&tts In R. A grant of £1.717 (3)21" £5.6111 was nHle for Inlllal (x)918 of the 2024 Chapter from tho ChgplerFuTrJ. Th8RethOnic9Th. Afwlr*. r0ead a ivdhtofÈ61.877 in rwp•ct 1419 a Conv¢nt and8¢lK>ol12921' £121.251 b l)uyJand on whlch tr• bwld the Convent and Sthol). Congtegallon OfThe Daulhtws ofThe Crc65 IntemathThl S
TrustOgB' report 31 De¢gmber 2rY2Y A"chlw•rn•nts aml p•rfoFman¢elconllnu•dl Grnnts mAd• (conllnu Th8r8 were small grants totalling £35.993 (2022.. £1.147) Yihl¢h o)mprf8ed.' gTant# frt>nl Ihe Enlraide Fund ofÈ4.341 12022: £11,3g4) 2nd Patrimony Fund 01£8,597 {20Y2'. £8.756). fcr thè pwr of the worfd And the POOT lo&keil after by the Conwegalon rèspectivety.. 0 9rAnt for FoTmatron eosts (£22.004 12022: 23.560) (see tw)te bdowl: and a an1 to Ihe Ger.man Sistprn of ¢1,051 12022: £882,V27}in rn6pettt oftheirr¢loeatlonMgts. Formatlé)n and trainlng e of thè Charitys Lject81s to sUprt the 1omaiicm trafftlno of ts memb¢rs of the cDnbyegaln. Grants of£22.OD4 12022: £23,560) wèrè made to thè R¢>urkela Provln¢a and Ihe Cameroun Regton to meet thplr costs. Olher Pfovlnces. Reulons and Hou98s dD hae Costs offormallon and trainlng bulwhero they hav?Ihe fvnds to meet tlwn, Ihere is no n¢ed forthe Charity to thake granls. OngoLng rel*lou8 tom(an for all the Si5ter5. rewdle8s of age. ts Import{ In whal Ims be¢bme a malntysooul?r8ociety. Formalir)n gnd Iraining of young Sl&t•rs foTfvII mernbèrship of tile Cong9aOn and fvr prrfes8K)nal qua15fioal(on3 rernalns a hlBh PriQTIty. Naturoj aptitude and abllty. a$ We a8 the n8•d$ of th& Misglon of the Congregaiion. are taken into COldeIlon wllen preparfng the young s(sl for their future roles in fv Conw¢gation. Swritualty COU are alsts essertlal tr the dpveIonI ol sk18 In tt1r rellulLWN eommilmert 10 them to re¥)ond lo the challengès in fiving ¢)ul thèlT tr•m CcffimttThrrtand In féxmlng in the ofthe Cwgreg8tlDn. Profes$181 trnlninA and quaiificallon In all Ihe ams Ihal the SBkrs ale ¢nga9ed in 1171natelY heallh and eduG4tionl, haG becDme even mre imwtwt a9 Ih¢y wo 010lde hiohty qualified and COment Y K419•gues. Trln9 for leaLfersttlp amngsl the younger Slsters remfns a prtthtty h the congaOn and each year eouTw are Iden1K which wlll ènable them to gain qualMcation$ andthey are glv?n televant expeTlence tolake up 8enbr F11811h1n the Con9rw'on. Congegallon Of The Daughters OfThe Cross Inlematitinal
TMStees' report 31 Decents 2W23 Achlrnvnts MI pErfom)an¢e ((¥xJtinwl) Thè Generalate tyant 01 £264.OOD (2022: E213,LI)D) helped b) moet tho runnlnp ¢oAIB of Ih Generaats¥ (Ksts fjnDlude travel eo8ts arttl durirtra thè IhB GèneTO1 Siskrs I vbltéd PThiiceg In Pakistar¥ Bombay. Calcutta, Rourkela. Belgium FrancOp)he. Belo1n 8Jkn Lea(knr8hlp role kn Ihe the maIorfty of tr Iw8te8 nnknshlp4nd frKJfd ovèrgll responsbllitylgrlhg ar clthe Conwegallorn The¥ roh 16 to gutde, Inspire and mate the Slsteys and ha¢)xdanc wlth tholr ¢LYMtllutton610 entrAWTago a spwftuatyIhat 18 Iriinu fathful and (aV0. get out beknv ate brreIts into the tIP8B of aclMIII88 oathad out a¢ros¥ th? I1d• of edu¢alloN medTral. $oLlal aThJ pthlral. 2023 ha8 1)eBn a very sign yBar ProvknGid Chapter4 that pre¢edÈ th? ¢3oneral Clh2pkn. Thls cd for every ProvwLC• rtt4lewing the previous sr< years and looklng Into th• futtxo, 0Y# v/th tho chari in th. NthvlNllths hmbeen iakn Inthedilferentiehts kn keeFthg wlth cuwéntr programm•6 atta to keèp 9breggt wkh ¢hange And development Dnllne fadfftl avred of as never befvro. Upwading of exist4ng iD5tituticns. aThJ rijlkgborallon Wlh ott OTganlzation$ are also ogining oround. The InawJur8llon of thè Holidie Hosplw ond InslibJle MethGo18cierK•$ w86 a mIleSe. &Iated as ft15 In of Ihe pow6st of Ihe slate ol Wesl Benu81. &mlarfy. the Sthool Df Nursw waB uwadBd to a Cr41egewlth nalional TecognftK>n. Tho consliuclt(#) of an expans1 wlng ofa'lhwd h¢Wal18 undeNay. Imilte GaIthl8ftynp aikad Inthe meolcallletd. BombaylsfocU5ng mtteon socialwor Rourkela Is expandiNJ in edUcAtn oppothnittès to the dePrId Mdi?nsof sodèty. Ee¢loyy w¥1 Ihc care olthe enviKbnment lo¢iB of au PFO¥iWeb Teyjwcey ar• us8d lo maxlmum. Vocations arè on the dee11. but I)mlIOn IB given due attanllon. Knan¢È . attended to dwgentty In keeplng with lh¢ fjovommenl T¢qulr8ments and Ihe Ptovlnces are 11 In Pathtan PnCe. the main fvpJ8bl ha¥ always been eoucatlon arxl the &ers wn a numbof SchoLqd akn%%wK usuallyln5BworpDBltimln pawiBh Thèeduoabon of strt ehlithen remains an Important project for the SlÉtsr8 In P?Sn. Some Ssters are Invo¢d In mbsbnary activltie8. vMknng In some ofthe P$18T of Ihe Punjab PKwlnue rrAinlywithwDmen dgIts. In 60meareaBlhe 8lstetsarelnYolvedln thg prowrffj of hegmh eare and sodol work &UpF for the people who w4k mgny niikns for W rnedl¢lne$ and medical trgalmonl health care ¢wre8. COnWegati 0fTheDaufrl3 OfTh8 Cross Irrtematknnal 7
Tru$tegJ' report 31 December 2W23
AchlB¥eJn•nts and porlomMn¢e lofrtlnu•O)
Th• Conllrngatson (continued)
The migsign gf the Sister8 In Cam8roun [3 wy aoltve anfl there are many voBalions. The
SisteTr remain in d8ngerous area¥".olCamwDundueto militant groups and F
Flnanclal rnvl•w IcorthThJed) Th8 net exponthlure for the y8or brfrye Invtslmtsnt gal {2022.' los) WMS thereknrn £17T.502 (. biet e>4XnJrO of £1.200,032). li 18 the nolwe rd lundlng re4uked by the Generalate forth8 BupFJI olthè wt¥Itttdé Congrngalitth. that srgnlhtantexwdfturg. réquw from tIMe to Ilmè •nd partlwlrfy n 2022 trre was a neeL1xrA)nBklBrne8Upptsrt StsleTS In Gernwny. Inve8bnènt3 are Iwth iwo nwwrs arKI plaLd In evlral Mu$et unltiÈed funts wlvch have Invewl wNch 61mllar to the principks of CathollG sodal teathing. Thesa Invethl marogw8 oro CCLA Fund Managèr5 Limfted. wth hvesknent In COIF charIti Ethlca Invesknent Fund. and BlaCkRO Funrl urn, with InVeBI In 8faekRook CAthdieCharhitio Or0 & In¢(xn$ Fund. Durtng the year, Ihe tn (4rrkd outa rnithvoftts FrNe#mpth nwaws. wilhthe help of the General Flnancè Allvthy Committ. An wwawas undertaken. r•Euling In ihe retenlbn of CCL4 Fund hIall• Llmftd aTrJ thp appolntment of Cazenw Capllal Iri ace of BlackRock Manager6 Limltd. As at the ba¢anee sheet date Ihe lyonth of InveslfttoCazuj C1 Iwd ntalaken plXebullh hyernd In theeL¥)ndqut of 2024. Thè In¥esknl oty'edlws weto achkve capllal grovAh in th? k)ng•rt•mi, saylfve k>ten Years.lStpTrvila1 v8kJe In real ternandlOQep¥tPa growlng In( over Ilme. Incomè galns èwlththavm ts fund th¢ grnnl8 and wort cos16. rulbw¥lperfonYAnoe are re¥ivdrdtrlceayewralthe Chartys manager8 ar¢ to aiiend onB grother 01th Thvliryo. After & rnior corvèction in Marke15 in 2022. I•&nI values have rf in 2023 resulwng kn Investh%ntgatns 01£1,YJT,38112022: losses of £1,8312111. Th& market val of Invè8tmpn18 at 31 December 2023 w&s £17.057.841 (2022.. £1fr.079,5281, refie¢ting th& gal and arrK>unts IraWn k> pay wants. 01 Ihls amount, £1.119P2512022'. £984.1661 r¢lobF lo fvnds held for two12022: PnCeS In th¢ WdMe Congregaflon. vthld) 1$ pald 4)W to them as Ihey lre Details oflha movernont8 ar8 gvtsn in nots 9 to Ilrwiclal stalemÈrb. The WÈY in which Inttomè ¢)n InvèstrneN$ and invèstsT*nt galn8 and I&¢6 are presented was Gha)ged In 2022 to showthBm In away whl¢h tetter reflected th8 SITh the yw-end. glc4)d market8 strong. cOr0n Of rh¢ DaUghtts OfThe Grow Intemauiyrdl g
Trngttts, report 31 Dec4nkn 2023 Flnan¢l41 l¢ontlwèd) The Charty has ETrJowmenl FUNJ and one Rèstri¢tod Fund. the Pgtrlmony Fund. The tsust••'$ polw iwond these Iwo designa amounts for speclfic purpte& whe there an obvbyjg or potèntlal Ew8d, whilst malntawung adequa(e free r&8eNes. Thgse free resNYes ar¢ the General Fd whl¢h repreaents IhÈ capitd requtremonts of th• Charfty. Desnated funds cowori8e a Solidity a Chapterfund and an Entraidefund. The Etr FurMI is for maklrwJ grarts to Ihè of the worf(r. The Cwer Fund rÈprtath 8um# ¢01 •side tr the Congwation'& General Chapter, whioh 15 * world4vido mBeUr¥J heid every dx years, lIh Ihe nèxt onts taking pla¢e in Rorne In May 2tr24. Th9 Sdi(W Furd has beon doBlgnated to wovbje ndS for vjnnlnll ants and 8ftualkn¥ arin9 wiihln the worfthride Congregation whern flnancial rèlour may bo nèeded. wfvtherthese situaltony gre routine oremergency in tturo. The tWStees reW Ihe funds fwm time to Ilme to ensure funLts are available to mèet lh¢ Charlty o'ects Mlhoul umpromiskng orgorro budget ¢ommilments. All deslgnated fvnds are Inv&wled or hdd In rA3h ètlhe balan sheet date. Free re5we& at 310ecembet 2023 amount kn £25.000 {2022'. E25,OOOlwhlch the trudeÈy oonaklar to be in line with reserve8 ptslicy. Plany forfuthre ptrlodo The Gèneral Chaptgr of the Cfmorttgaknon will take place in M4y 2024. has Involved onslderable pknnlng me from the Gènerabte. The Charity wll dDnate the Chapter Fund of appr0MalY £125,000 to Ihe GÉner#laie Inthe fir8t hall of 2024. to help fjjnd the c08t80f the Chaptsr. Th? Charity wfll tr)ntinue to support the COrrfJI4on and 6UWOrt I Genttet0 hdpmeet the new oble¢Uves which wlll be set at Ihe M8y 2024 Chapter. Prfnelpal rfsks aml uncertalntles Th¢ have assessed the mr rlsk8 t¢ whlth th8 Charly18 exposed and th have pui procedures In Place lo mffjoale them a6 fa¥ as posslble, The prlndpal rtsk is voL81rn1ty andloT T#dlEal bhanoewltrin global finanriol t¥Juld ro8uIt itt uwèsknent valyp$ and Inrx)me being Insufficient to meet the requests ot'lhg Cotyeg8ilon's prolBds whlch Ihe tN¥tèa# Wou1 to suppr¥l. RFsk8 8fe mrtate(I by using kn in¥8sthwI msnagerg, ty ftNeS1 In mulN488ét nIt fvnds, by m&•ttng thè investrfienl m8nager8 every ygar and by conslderlng tlie Charfty lrtve6tmerts fvA¢e a year At the General Fuian(¢ Advtsthy ¢omrrfttee meetirwJB. Fundrnlslng Thè Charity does not 801icit donan5 from the gBnerl pU[C and Ihefore d¢)88 iirA work wlth any profe8onal fundrnlws. Congregallon OfThe Dau9hters or The cro Inlemational. 10
TTuSt•88' rèport 31 De¢èmlr20YJ Th8 Conwagation ofThe Daug14 ofTlw Cr& IntemallDn81 Gpnwatate waB as a rrn guarantee on IS Marth 2011 (Regislrtlcffi Ntswrow 0750Sg99) and r¢lltsed aB a BlIty on 20 JU 2011 (Charity Registratkn 11424ao). The charflablo CWVDY bg govèr by ibATWe8 01xsDclallDn. Trnlees The Inislees conGlbAe thè wnyany Ih? purFK>O9 of ¢ompany Iw lElee$ (A the Ch•rity for the PWPOB¢S of cl• tetysllon. trlee6 wwe In OIIBe as at 31 Decener 2023 vJ served thrwthout yw. Sl8r Pu6hpg PuMlhw18uwlor Gtsnerall Sister ldh11n SlbteF Vaktk Mlrwtraa Keynyanagementp¥sonnFI The mgnaymgnt of Ihe Ch¥tiiy th01 thè yaw. In ¢hary& of dlr¢¢tlng, Mntronhu and runrdng ihe Chattyon 8 day-tfyday ba51s compnwj Ihe Gener4ale skièrs aNI tho Bursar GengralofthÈ craalk)n.whtsth8trtte•ll>Ns1erw¥8tsVkeY wATra9ewKntpmnnel. Durfng 21)23. the StFtertNsls gnd th9 8urs¥Gpneral wtre rrrts$ otihe Crywon d trdrexp8rf0r att9n(rinylntsO and GFAC mgoUng8are bwne bylhe CI0rly. The Gèn¢Talat¢ and th¢ shi¢r8 ofthe vmldwkle ¢oftoWatbn ofthe D3h1% of Ihe CMSB rfLiege. Grants è made by ihe Chwity to provin al to dh&"Si8ters gfthe Con9waUty> around the wortd from tyme lo tKno. stAt•mètti of truBt•e&' r•ApoMlbilltl•ts The trustee5 are reSnSIb[e for preparlng the truslee8' report and financial st8lempnts a¢¢ordae with applic2b lawgnd United ngdOM Aecount¥)g Standards (unit1 lfjnudom GenertyAGcerknd £counti PIke). Cwany * rquke8 the InJ6tees to Prepare $taleTrNs foT eth Tr)andal year vthlch gr¥e o truè artd far vièw of the state of affairs olthe dwltablg txAnpary and of tho InL¥)mè expETrJlbJr¢ olthe oharlt&)10 rJJmpAnyfor that perfDII. In pw•lnpthe$6ffiDaThy•l slalemwts. the tfiffjlees are re9uIMI Io.. • 8e*8uIIth p7 th thpn apply tr[11 COn9regqfn OfTne rugMefS 01 The Gross Inlernallonal 11
Trusiees. report 31 December 202a statement of truth., pon¥1b111tl¥s (caMUnu) sewe the mell$5 ano prthdplès In A¢counling and Rewting W CaritIes.. Slalement. of RecomrnwKléd Pra¢Uce applicabkn chariles p.rep.aring a¢wuThts iii arKoFdan¢e wlth Ihe Fth#n¢bl RertIn9'Sj&ld ?pplicabb lo the Untled n9(th and RepubllGof Irel•nd (FRS 1021., the Stm" enl ot Re(minBndod Prn¢<t (A. ¢.n119 and Rgportlng by CllaTiljeBI (ffté Charth85' SORPI.. • mak91udgemtsand esUmot06 that are.reas'oriabloand Ptudè"nV, .8lat8 whtrlher applirabte United'Kihg¢om AcctIng Standards have beRn .folbThed, 6ubJeci kn arry mgterlal departLwe8 d18d¥sed aThl.explakd In sl•tem¢nll',. ¢pare.tt lthaal skIEnIS on the. golng L!)nftm'tsa$ls unk8's"tt.1s Inapproprfjtits to. prnÈunYe that U)0 eharit•lAg ¢onipany VAM ¢oririug in opBration. Thè trlte0 ¥Te re8pOrisE. for kwing .16er rerdS Ihat dlsikne" wilh reasonabve accurdCy.at.any Ibn¢ IIK financkl Posllon of Ihe ¢haritab company arKI èrbl¢ them to en¥ure that the fina¢icial state'rrBnts c(mpty"'with thecompaniets Ac4 2006.. Theyaré also resporb]e lor8g"uwding'the as6el& ot Ihe ¢harifable ¢ompany and henoe f91 reaBonablè éteP9 forlhè Èmènlwjn and deteotion of fraud and other trregularilias. Each.of lie thltss con11rri thar:. • softtra8 the trusteeiÈ èw8rtr.ihere is rto reknvaDtaiidit'irfonnatibnofvthlth the charftsb oompony's audltor Is Unawa 8nd • the Irusfe8".'tra$takgn al the step6 that they ought to have.taken ag alN8tee iri Ordert(i make thpmsdv&s aware of.zny rel8Wanl audtt Inlom)atlDn and toi" eBlaYiéh that (he tharllable wnpan.W$ au(litOT b avrare of ItrAt Inforthatton. ThlBconfmiatitJn &lveh and ¥11p.uld Inl¢rpTQted ki aGc4xd8néewknthé."pr6Vt0h of 8418 of IheColiikwnio5Aty.120(*. ApprDved by, the trustees and on th¢it hat1 bw. Sister Pu5hpa Purathur Twstèe.. Congregauon l)fThe Dgughtern Of'The CfDSS lrilemallonaj 12
Indepenthnt audltof8 rnlkn 31 Dewts2023 Ind•pgnd•Tht audknr reportto t mwborn ofth¢ Congrngatkn olTh• D8ughlort ol The Crosslnternatlonal Oplnlon WèYovo4udlteil theffnondal thm•rts oflhèCMgr•getkn ofTr DaufvsofThe Cro¥• Int¢rnaknonal foTthe YPard#d 31 Dvrember2W23whth(¥JTry1$ptbeslalement offioarxlal ac4riKies. the ¢omporative staiement of ffinan¢aal a¢lilIeS. thg balance $hee( statement of ¢osh fjm, th• a#ounllw polKies and th• relat¢d note6 lo the fjnan¢lBI 81m¢. The fvn¢lal r¢porting that ha6 teeTr aFpll8d In trlr prwwatson Is appllrabje law gnd Vnhd Kthgdom A(IntIng Standard8 lUted KlngdLKn Generally ptsd Acc(wnting Prneuee). lrtetu(thng FRS102. the FhanrJal Standard bk kn the Lknlted Kthgdom 8ndRepublle of Ireland. opirrfon th¢firwal $lthThnts.. e alnE latrVIQrthe st olihech8JHaMè•yb4lfatr8as31 De(xmber 23 and ofh and expwKMurnfoTtlw year eNletr, • IHve been wopety PTepared In with Unw Gen Awled b¢ prep8red in aeWdan th? re4u1tertS oflhe Compan•Act 21I)S. IB tor oplnlon We c%Jndu¢te(l our audll In Int8matl sivthrds on Authtlno (UK) {tSA& IUKII and plic&ble Iw. Ow rnsponsbllw undw thoEe statdafds 8rofvrfhwdgEcfibed in Ihe audiEoffj 186pon5its.litlesforlheaudlloflheffinartlal stMSeCtiOn(rf(yJrrepDrt. WO ar8 indew)dwrt ofthe charhtabkn rampaTV ina¢¢ordance wlih Ihe ethk f89liRn that are relevant to our audlt of Ihe finartelal statements In Ihe UK thduding the FRC? Ethical standard, we have fulfiled our othw ethrAI r•S)nlI¢S in aceoTkn* vAth the8• It9ulrtrneDts. We Ihat the audft evldBnce we have obtaln&l 8uffident and appropr to prnidea basis forour (oinlon. C•ncluzions r•l#tlng to golno concem In aud"M"rYJ the flnanGtal statemEn15. we.havè ?¢1[ that the trus, use of Ihe wlno oon¢em fj$ ol a¢Ubno in Ule pr¢parallon ofthe finwal slatement518 appmprkte. Based on th• l¥k we ts3ve wformed. we h9ve nol Identined any material uncth£inlies rel•tinu to evenls or CDTKltirry lIa¢ty, may M•t w9n1•Tht iloubt on the Ghartiabk mpary abuty lo ¢ontinue aB a golng CnrM iora pttbd ofal lea5tfvMIv8 Our reBrn$1b1litleS and the reBtKJn5ibllties of the tru8tÉes wmh re8pect to Concem are described n the relevant seikn of thi8 rewt. CDnprngatton OfThe Dauyhtern OlThe CT05s Internallonal 13
Independent •udltor¥ r•port 31 Detter 2023 other infwallon The truslees are responsible for th¢ other inlNM•t. The informatlon eomwises the Infomiallon Inthde(I In tho Unn1 report llnd finandal ¢tataments, oU)ef than statementsand ouraudttor'8 Teportthereon. Ourotynlon on the flnanoi81siaierrknts ttoeB not covgrthB other infomiation and, owpl to Ihe extènt o1hthv1 gtaled In ow reporf, we do not exwess anYf0 of a$8uran¢e nClus)n therebn. In wnnectlon wilh our audll of Ihe IlronGlal $tolemoni¥, our re6ponslbSltty ts lo itr•d ihe oth infomiatKm and. in doing $0, nsider whether Ihe other infom)atton is matermlly Inron6tsnl wkn" Ihe financial lemenls or our knedge oblalned In the auth or olherwise gppears lo bo materP1 mi8slat¢d. If we [dfy 6uch material inponsiBtoh¢iES or appsrenl rnatgrial mlssktoments, we are rewred to determlne vthether bs a rrolwial m¢sl8temont In th& finonclal 8t4temwB Ora matw&l mi#8tatem8ntoftheolhÈr Inlormalon. If, baked t)n Ihewoyk we have pérforn)ed. w¢ CC4Ude Ihat there 18 a rroterial mst8ment of thig olh¢r Infomi#llon. ar6 required to repDrt that fact. We hav8 nothkng to re Sn rEgaTd. Oplnlon M othw matter prescrfbed by th• Companles Act 2006 In ouropinlon. ba8ed on Ihe wort dertaken in th& ¢ows¢ of the aud. • Iha InloTmdttOn krnven In the trustr£g report, whieh ll¢ the dlrectors, reth for the purpD3&8 of Company law, for the 11nanclal year tor whlch the •tmty are prepared IB fxmstslent wilh theffirkgncial 5talements', and the trust. réport, wh(ch is #bo ffte direclor¢ report for the purpe$ of company law, ha& been wepared irs aoWrdcwtth appli(xbk 91 requirements. attws trn whltsh w# are rgqulrwl t• r•port by •x¢Wlèn In Ihe Ilght of the knovAedge and underslanthng ofthe charity and its nrOnment obtsin8d In th¢ coursèofthe audit. we have identmed n¢$ rTlerio1 mlsytstdnentg in the truBtees' rewrt. We hava noihlng to report In respo¢1 ofthè folhJwli9 malt¥ whar• thè Cwanle8 Ac121))8 rewireg 10 reFQrt to you rf, In our oplnltsn.. • 4dequate acwunling recoTds Iwve nol been kepl or relumb adequate for our audlt have notbeen Z1Ved frn bTanchB8 not vblted by us: or the fironelèk Èt•enwnt>.or¢'not in •uwmanlw41h tl a¢COurn9 recAxdsand rotums" or • C8rta'n di8¢b8uro9 of trugtee8' ramuneratton sp8afd by law e not mad¢". • have not recefved 811 the irbfL¥rnatroh find Wknatlong we rtwlTe f¢f our audit: or • the IAk8le¢8 wer¢ not enlltied ID weparelhe fvantial sl8tewEnls In acts)rdan¢e vAth th• Bm811 ¢omparv regimB and take advantage of the small o)mp8nSeg exerytion in pryrlnglhetlU51ees' repDN andtake advantage ofthe8m811 CDmpanies exemW"Lmfrom thg reqrem¥nE to pr•par• a *ateuic repo Congregallon OfTh• Daughtets OfTha Cross Inte(natic&t 14
Independent audltofs report 31 t)•beT 20r3 Rwwlbllllle8 oltrubt••$ As gxpktrd in the trusteel re$FSlI11es 6kt&nenl, th8 trustees fv ar? alBO the atreolorstsTlh¢ carllable MpanY fDrI wKpo8t6 ofcompany l&v) afe regponelbJ8ts the proparatw)nofth&llnBTh>lal stslements aThJ for bw'ng Baled IIAtthtyglv• a true and f vlew. fly Inlemal as th¢ trusle9s dEtermlM16 neBeBBary lo enab Ihe prepar8Uon oflkndgl ststwnents that ara fteg from mwlal mtBBtstemant. wh•ttw du to fraud OreOr. In Preparlnglhefhanrlalstatements. thtstrdStOo&are resPleT0ra5Stsng Ihecharilable comFonWs thlltyto(nilnuea5 aooing dsdo$h)g, a fcabl&. maiters re to s¥)h¥ 1¢eM and u5tng Ihe goin0 eMc•m of dwuntlng unl¢8s Ihe tr65 Intend to llqutdafe charllable ¢onyny or io opwatkn%. or have no r8alwlle 8lteTnqlive butto dDSO. Audltor's reSPbI1¥s forth? audttof IhE llnonelal Jt4tements ouroty.ec1tr9Ie to obtalnreasonablo assuran att11her&thn8neI8I slalemenls as 8 whole are free material mbstglenwnt, thethèr due lo fraud or error. a)d to i$6u¢ an 4udftofs rwlthallnclu(s ourLWtnkw). Reasonk 156tsrar Is a hlgh level of a8wranoe. bulls nOt8RnI¢81H1anaUdllcondItsd InacMrdarK•vAlh ISA8 (UK)11 WayS a rnate Mts&alenhIh r( extsts. MIslale aii5e froTn fraud w eTror JAI a Idwed rnateI rf. iThJhtdu8lly tha agureiale. thoy cOd rea8onabty be expedeil to Iyregtho5. ind1¥ trd, are In8ianeeg of noAn111th laYB regulakns. We design pro¢edufe5 In line our reSpons)Ille5. Outtlned 8bove, lo deleet material mlsslm8nts in ¥e8pedof wregulaTities. indudlng fraud The extenttovthich ow preduleS gre fapaue of detethg lryegularilles. In¢lU(fmufra&lS detslled bÈtow. Our to aNI a88¢5slNJ fft¢ tsks (rf mrtal ms1&ent kn resped of Inwlitk8. inchthu frwd and l#wsand re0( wa¥ ao foll(Yw¥. * the Senh)r Statthry A10[ erwred Ihai the er¥agement t coll9e1ety had approprf8te LY>mpeten¢e. capableS and S16 S) Idenlify cff nonacvmplarte • wè otrA&lned an ndStarling of Ihe legal arvj reuulatory frarn that are ap1¢at4• tothg ¢h?NabIèyryJanY and delerminedthalthe Most 9¢antaMth51 VA)¥8 dtrecuy ièknart to $P8cCio assgrtkxw In fv flnanGtal etemeJts gre lIe that relate to th? WOTUrw tramework (Wemenl of ReeomerAded Prauli¢&: AcvJffitlrrfJ and RepDnin9 ty Gh8rllles fxparfng In aE¢orfjan¢e me FInatal Reporung St]8$9ppl1atsle In the Unlied Kingdom gnd Republlo oflreland IFRS 1021. Compthe¥ Acl 2006 and Ihe ciiaTIIIo8 2071). Cungrogallon OfThe Dwtht•r3 OfThe Cross Intnalnl 15
Indopendent auditor's rwt 31 De¢en)ber 2ry23 Audltovs responglblllutrs IoTtho audll ol tho IIDancI¥talMen19 l(>)Mnued) We asse6sedthe sus¢xptibdty of the chaTIty'sfjnanclal Sfalemwrt$ to nwlwial misstnnl. dudingobtpning ynderstarKlng of howfraud mlahtow. by: mthThJ eNu1rf85 ofmagent as tolherkThMedgeofaGlual. suspeoled end alleg¢d fraud,. awj • ¢onsideTINJ Ihe Intemal co))Irots In piace to rnMbJate d5ks of Iraud and noN(kn[all¢e WI laws and regulatlons. To address the rffjk 0ffraudt1yllh m8nagompJrt bt88 and overrkkn of controls. we." • Porfornd anatytkal wocedUre# tt) unwi (Y Inexclea relaiionshl>6: • Cald out 8&JSlanlIeslhjg ol expendllwe hthi(Slng the aulhorknkn Ihe'reot. YIBW U[rAI entrts to Idenllfy lrnnbA6knns NI substanllated the8e 9pVa1e. and + &83e8¥ed wlthr judgnte pnd u[¥tIOnS made th d¢t¢rmknltYJ avA>tsntkng esllnthweredt41fveoI W¢al bias. In Trsponse to of Irreyre5 and non-¢ryllanG• Wlh laws and regulalknts, we deBigl w(Kedum whKh lThluded, butwere fimited lo: • revlewoflhe mlnutes of rneeling$ ofttrthe ¢lYwLh gov8mance' and • •nqutrlng of manalle asloa¢lual ant5 PDtenll41 Iwauon and claimB. There Inthnl llthik¢iorr& In our wdlt procedures de#¢rfbed above. The mwe r8m(wed Ihal w8 and roguktlc$ arè from ffinandal tr8n$8oUonB. the less Itkely it is Ihat would become aware of n.Compln¢8. Auditin8 StalarsaI$0Ilritthe8udIt prc¢edures reqred lo Idenbfy non-coM[ala laws regulatlons to 8wulry ol the tfustees and 0r maThagèm•nl and th• Inspecfion ofTet and lyl eorrtsponderwk, W any. Matert81 mlsstatements that du¢ to fraud (Sn be hder to dete¢l than Ihc¢e that 8rt8e from emir aslhw may Invo deliberatewncealmem cdluoion. A fjJrtlr ¢kn¢rfptkn our respon61blWè¥ 1$ abblO on th• Flnancial Rwirtlog ¢ouncil'$ webslte al www.frCAg.uVauditotsrespo1b1ltlvS. Thls d¢slJfjptknfomTh partofour•udlW¥ repLYt. Con9regatlon Of The Dauthtsrs Of The Cross Internati¢)nal 16
Ind•pond•Dt auditors rnport 31 othr20?3 otour report Tlwg rowt 1$ mado to the thartta)lu¢ompanYs member8, 88 a body, In th Chaptor 3 of Part 16" of thè Crympanle8 Art 2IKI".6. Our aud wtk ha$ b¢eft undwkkèn th•t WÈ mWt stale to Ihe GhÈyllable (lpeMbe1¥ IIwp<nwllwè we.wo requir¢ 10 slate tptliem in an authlpr¥ reFQrtAnd for no OlhÉrpuOS9.TQth4fvl10s1QxlPnI pemilttÈ ty 13w. w&".(lo rnt axept or assume Rsponsiblkty to •one o!h¢r Ihah tlle charltable ¢Ompany•Yllhed[{Iabl8 memkn aB a LK,lw.F audllwork,.fOr.Ihl$rep. ortrtheopln)Dn¥trR hav9frnd, 21 May 2024 fw ontl on bth¥fOtPlzw. LLP. Slotutoryr 130lilood 8tie41 Lond Ec* 6t)L Congrqgatlon 01 Th&Daugh.to.r8 (X TheCrog5 IntemAl1aI 17
Statem of"Ilnanclal acttrlllk¥ linco11tIng anlncoriie arid expendllur8 4ccount) YÈat lo 31 D¢.¢¢D)bei 2023 •Jn fundB fuhd a14,65• aJ4ts1 TAtsI'ln¢om• I10. 640 21W 4S41. FoJthailu artra9.$)T'm9htr Ext8rnalgMrs BTrd rfonoir•$. 4..341 191,1S4 Yofaiwendlluvg N¢lIeKditUrei WornfiétlthYe51rrienl. lJ.4441 (01.6} J4fytqokn5 oTrJhp" 145".LYIg 302213 Notsurplu ',9$1 2è.705 42424> I,QSg, ai 1.J8iwari2P23 at'31 D8tsmbet.z .10.9112BO.. 4.'660,255 IIOI47JI All W" rifjw. qalns ahd losses ¥e JIlthd InJh¢..ati£we&iatèinenl.of fjnaneYdl.4¢li¥its85. Al Of the ChgnW.s activitie$ darfved from bperetkJn¥ dyrlr4g thg obDve.fin8tlLiai Pgrfod. ¢preglIn ¢pTho Uaughter4 OfThe Cro*¥ International 18
17Y,Q07 9.641 31.671 1.321.680 1$2AI14 32,566 (12M*)# S t71.464. AIITeco#fésèdo#hhs and losses¥e Indudod kn Ibe obove ¥tstsmBnt t)f ffinal AU of tbe Ch¥ty$ dertvd fftlm duhng thè réggkn. OfThe D8ughlers The ¢kns Ihlem" alkinal 19
Balon sbaet 31 December 2023 2023.. Flxed as5elS 17,057,'q41 16.07>.¥28' 4d.130 rSh.l Iljnk •Trld In1•ft4' 620123 171.440 cred.. wYiouTrbfal¥ng with) dnfr.year N8t'È'urrent aBset 311,181 83.612 Told asetè lesS.&itrpht. Iiabiiitl85 iamDWts.f4lllnot"du• aftérrlN>.tfi ono yew. li lJ,lQfj.2801 Totri n•Y488•ts 14.9S6.952. The Iuhd ofthb Ch•rfty RE51rffUntr 1.2 13 .216 35b,511 .4.389. . D•tslqnutod lori ..Chaer.1urf rytroidoNnd 14. 41T.:037 lo.,.22> 10.946310 10.181893 . fun'd¥ 250 101731. 14.L¥.56.Bfj2 Approvtsd by the trustees of the Congtegaiiefi Df The Daughkn OfThe Clos Inte..0171I Gerl41e". Company Regtstratlpn mb8r 975653.99 (En418thtl and Wqlps).. and'sillrtodpri the'ir b&hf'by.: Sister Pushpa PuTathur eo"ngregation OfThe Daughtar£ Ot The Cro9* Internp.tional 20"
siatemert of Cash I[01 31 Dl)b2028 4 (242 1.81rA82 DI¥•1& •rXI int¥rnAtfnrn thveskn 4669 112m7 J40.000 7410 559,669 W.027 N•toash UBed ITr Inveg14ng a¢tl¥ltles 311187 (761.5351 ca¥h¥1¥h eqthTalEMS t 1 127>10 191,193 cIMngE In and Cash •4lJl.nlwts t• •i•hwo rai• (y•n 44f.1WJ. 127.310 hlotytothè slaknwntof ¢ash Ilowslortheyearto 31 DemIr2D A Recondliatlon of net Incometo net e•#h provlde(I by •p•r•tknè acU¥ili•g 14etln¢orne{dgllW (as PeTth• Ststsmthtolflynelithll) AdIu$tsxtr ltsr. (Gaifvl I.W.IYg 11031.2431 IIWA3.1111 1.944.505 1214.559} 1112.oon (682) 113,515) 404.640) 1,617.562) 140,803) NetV5h Iised Atlng a¢tl¥ltle% B Pmalysls of*•sh onl ¢4¥h equlv4knts 2123 C"81 In 441.190 441,190 127.¥10
Èétr rtr4)ndll8lon olnet debt has been asllwe Ip nc*dlfw•ne• bol¥wèn thènol c9Gh {dobtl of Ihe Chority ond the alwo rash aTrd caBh equl¥atent c0J1egltih OfThè Daughters Of Thè Cro&M Irltemgtional 21
Prlndpal Accountlng Pollcles 31 DeftIber2023 The prtndpal accounfkng p)Ildes adopted. Jiidgements and koy ul¢¢8 of •Stlmaiion unwInty in the prepar ollhefiftaficial 5ts1efflerts we sel outbelow. Bas1$ oYprepaTatlan Tttese finala1 statements have iwn pr•pr•d for th8 year to 31 Decthber 2023 wllh ¢omparntlv8 inlornn In respect to the year endeil 31 Decomber2022. Theffinanclal statementshayebe Weped underthe l• Cl¢On¥en¢tlln wlth Rem8 reGtyJnl$ed al or traradiDn value unl$ Oth•ThSe staw irb rèlwant aceounlkng polkles below OT Ihe nDles tolhe6E aGunts. The flnandl8tat¢menis have been Pretsd in 4oyJrdan¢lhAAIfilI9 and Reporting by Charttks.. Slaternent of Reoommonded Practlce aPWl¢abl$ to ¢harMles preparlng thr 8¢counts in aOrdart I1h Fln•n¢lal Rep)rting Sland8rd 8pplicae in the UnTtod Klngdom and Republto of Ireland IFRS 1tr21 ICharille3 SORP FRS lo21155d on 16 July 2014, the Flnaneol Rpporwng StaThda applicbl¢ In the UK and Republ5¢ of IreL7rxl IFRS 1021 and thè Companles Acl 2CQ6. The presenktlon of cxpwthknjre the a¢¢ounts ha6 been amended this year to bett roileot lh¢ Onla adivltles of the charty. Comp8rative amounts have been repreBenled f¢f wnst81en¢y, howover these arnendments have nD knpdct on thB to1 am¢nts of expendttijra TaLs>JnW. The crtanty ¢Mslitules a publlc tenefft enlltyas ddlned ty FRS 102. ThpfinAnolal •ktwn8nt8 arè ¥endIrt $tsrtlng and ar¢r¢wndedtoth9 nearest rM)und. Crlilcal a¢¢ountlng •stlmates and areaB of judgèment Preparation of th8 ae&)unls rèqulres Ihe trustees and manageroenl trj I8 slonificanl judgements and eBtim&tes. Th$ Items kn the accourllBwhaTethe&eludgements and OBtimates havo been math Intrd.. the alb]callon of amounts held on Lhalf pf rtS ofthe 1)Nd¥de Conwegatt)n of the Daughte of Iho Crogs of Lkua beknveen short and long term 4xetIN. and • theassumph.orts adoplod IA determhlng the vduo of w de8lgnalkJns required fromthe genero1 uDrestrhtsl fuNts. AB8esmènt of going ¢oneém Thetrustees ha assessedwhelherlhe of Ihe golng con¢¢m 0ssunylv)n is app.roprfale In PT¢parirwJ ihese accounts ard IAv¢ mad8 this assesyment In resw of a period 01 yeaT from thg date cl opprovèl of a¢coLmt•. CgnrJrion OtThe Daughlèrs Of Tho Crogs Intematlonai 22
Prlnelpal Aecotsrttlng Pollel•s 311)wember2023 Thotrustees ¢1 ¢haTity have c¥n¢kth that there gxe no malthl ui'nlw rqlaied to nts0r0111bnSihat MayGlstylllcathUbt0tt thoabllltydlhecharkytocontin as a goi oyKerh. Thg trustaes are of tho that Ihe ChaTIty VAII hav• suffldeht rag0vrS to fiablllles as f411 Th¥ MDSI siuntllcant areas olludgÈm¢nt th&affert knms In the a%)nISad9laIl9bOVé. Wlth Kgard the nèxl a¢¢Y)un9 peritsl. the yweNlthll 31 Decembw 2024, Ihe most 61unffjcanlarea8th&laffeclth8 (aryNJ ofthB 08etshokl by thè Charty'areth• level ol tswestmènl r¢turn and the pfrrfmnce ofthtr Investm rnarkets {8ee ts Inveslrneni pollcy and lh8 rtsk managem8ntBectknns of Iho Intsleeg weptxtfLY more Infomwiion). Inro Income l¥ reco18¢ In the p8rfcrtl In wthkh the Chthty ha5 entiuement lo Ihe Income". I Amount of iromo rnasured rellatly arnl ft Is pr¢the IPAt Ihe iome win bt Inme}. In aOrdawfth the Ctharila& SORP FRS 102 voknilèertlmè 1$ Mt reww. Fortt purF4)s•s 0fth aocourfs, novth• hasl)etrn pLg¢ed •Jmlnistr4live¥ndo1her Bervlces ed ty mefflbe ofthè C<mgregation. Expendttuwe LiabS1itkB arn recryned as eXpdI[e ay soon a$ liiwe ts a kgal or c4)nstruth¢ abkuadon ¢omnMitlng thè Charity tts mgke a poyment lo • Ilyrd paity. It Is probabl lh a transferolecon0m tsertIS lll be wuWe¢i In 8ewerrtethana the knWMOIlllèrtJNIL¥l can be ffl8a5ured feliably All expen[0 f¢r on an bas1$ and ali exp6 arè alocgted to thè 8ppllcle OXFerltUre headings. Thènwiorty ofexpen(kn is dlreclty attribulJle and any apportwBnt bplween ig n&JlioIb. Thw elas8lfieatlDn b•tw••n aebvitkn is aè Expendlw¢ )n thitte¥ IndLKles all (K)s1s assoualed lIh the Fbtable PUTP05e8 of thè Chity throh Ihe movOn of It• diarllabl& aGtsinlLes. All expndth IB byway of grth and Tel&ted 8urwItI Govemanc8 Mjg¢ Ihe In¥oMng the pubk arAn14blY cl th¢ Charity (indultinu au1 costs) and wsts kn r¢sW of ll8 col1w¢8 vAth reUall0 good pracuce. All cxpcndM is uiated bnEthlvc of ifTe(y)vcrable VAT. nHaswed at thetrf4irvalue 05 at the bnre theet date uslng th&dll nlarket Congregatlon OfThe Dawter8 ofThe Cross Intsmatlw 23
Princlpal A<)n9 POllc108 31 Oe¢gmW2023 Inv•Blmnts Iconkn"nugdl The Charty only holds unw8 in quoted u111&ed fund5. Reall8ed gain8 lor tOSFe311)n Investmenl ass8ts arn ral¢utated aB tt dbfforenc8 btha•n disp1 pce9dS and Ihetr openlng valug or thètr pur¢ha lue W ocqulred ubsequent to the ffiTs¢day ol theflnand41 year. UrwealiBed gairffj and10sges are calculated as the drfferèrKe between the fairvalue atme yearend and tl)elr cArffjng value al that dale. R¥albed and unrèalked investrnent galn8 (or losses) are (#)mbined" In the statement ol al ac)'villes and are wltted (orileblteil) In the year kn thfil¢h Ihey th. Dgbtg Debtorsar• reC(ene althetr9etllemenl amount less anyrrfoviston t•rnon4ec(werablty. Prepayments are valued atthe anbxntwepatd. Cash at btt.nk and In hand Cash al bank gnd In hand reprn$ accwnls that are av4ilablè demand orlwve a maturity of18SS than three mfAths from the dalo of 8oqut8llDn. Deposs for rnore Ihan threè months but less Ihan one year arè disdosed as short lemi depts. Cash pla¢ed I dewsk lor more than one year 1$ dls¢loseil as a ft¥ed asset inveslment. Credltots and provlsltsn8 Credltots and Pro610n$ are ree4gntsed whèn there Is an obllgatbn al the balance Sheot ¢le as è result of a past evenl. & is probable Ihat a transf¢r of ¢L¥)nIG. berfrt wlll be rewlred In 8elU8rnent. and th8 omount oflhe Settl&nICan be eolmated relknlAy. Forelgn lI8cleS Assets and llabilil(es In forefgn Trend are tranthled •t¢rtln9 at the rntes of axeknange rullng allh8 balancè gh8eld8te. Trdnsactions inforellln currendes 8retrari8lAl&Y Into stedlng at the rale of exGIMnue Nllng al the date vf the trwnBadon. Exchan derenCe6 Ire Iqken into a1 In athno al ihe net movemert In ft$. Fuhd $trw¢tuY¢ Gejkral furyjs represent thDse nlES whiekn aTe [elY avaikble for applIln towards achieving any charitabla purpDse Ihat lalls wlthln the Chfjty'8 charfble DblErJs. Degign4ted fvnds Comprise mon$ sèt awd¢ tsf unr88tr(elod genetal lunds tr spgclfic ture wrPO or projects. RestrithdfurK18 repre8entd0r1tlrffj recdvedforthi¢htMdon¢rha6presuibed ho¥Ythe8e donat•Jn& may be us8d. and the88 nkirffles ar8 only US for those thwtlable Endowth•nt fiinda ¢ompris¥ m40• wN¢h mubt b• iNestsd thd hold 4)B eap*al. A proportSDn of the fund 16 ¢rgdlkd to othpr fund$ ofthe Glwrty and for purpose$ 801 •YJtundgrlhe teTm¥ of Ihe Endownent Congr¢gatton OfTr DaughtorJ Of The CAOSS Inlemalional 24
Nl)te¥ toth?flnaniAal slatm•rtS 31 Do¢er 2D23 14($ 11)KSIS 2.601 111 2 ¢Xh•r In1n• Td ap7B 9,641 3 Gr•nts donlons OerwaTatO'. 114¥94 . &OrtMÈrtF¢thd 1$3m8 153,W6 IiO,JB4 4,000 . Bdlty FLY 8,597 1,717 1.717 191,154 87 1SJ.830 Coryregwlon OTTho Dau9htsrs QfThg Qosts Intematlon81 25
Nots$ to the financlal stateménts 31 Deoember 2018 3 Grants and donatIon$1rtInu&j} lthd& Pthmonyfund dunalknn Ardivefvtsd don•tkn Entroido fund donatiun ChÉpt•rknd dotIOnS $dId fiJnd . To Gemwn PYgvln¢¥• . To Camwoun Provk B,756 23.810 8.758 23.810 11.394 5,811 11394 6.611 882.627 121251 213.OOD 882.627 121251 213,000 ZJ.580 32,XG 1.290.OD9 Totsl doMtIoTh• 1.257.443 4 Support Costa Yotal Tot41 AMN¥ty4knn IW 10,#S 27.715 38.674 I42 16.n9 31,671 14.9$2 16,719 31.B71 JB.W4 Gerne eogts Brè maae up a&foUoK'. 2D23 L•dd •ndpYolo4i¢Tht f••• Audilorf3 T¢uth? Iuranc4 Mootino ¢Dsts 6,AS 11,16D 1,12D 8,659 27,789 l.B57 18.719 N•t ¥urplu¥ (¢kft¢lt} and nt movwmnt In Th1$ W $faled 8fterchng'. 202) 2022 Ats(W8 Mor•I . st4trrtory audi16KV1¢0* 11,160 8,280 Fees pald to ihe Char£tr(s audltor8tr seNlces. vthtch allidateto fihanGlal adv1. a In¢ludad in $PortcDSts 4nd totdled £Thl120tr..£1",9501. Th8 total amountpayable tothe audlors was£11.180 (2022.. £8.2301. Key manag&mtt personnel Thg kgy manag8m8nt parÈonn•l of thè CW throughout the year In thTge d direditw. rtrollIng. and Tunnlng Ihe Glartty on a day to 11ay b8818 compTK the Qervdlale Si51 and Ihè Bur&gr Gentral of tha.Congr8gatlon. cOn9wati Of Thè Dau#hter& OfTh8 Cros8 Intematlonal 26
Nots8 lo th• fknan¢ial stat•mèntss 31 Dec•nth8rX)ZJ K•y manw•nl p•r8onMI l(>)ntinued) . Dwiilg 2023. the SsSterlNstge6 and BsrEene1aI[@ dl mwntrnofth? thgregalbn th aryl porsonal expw5 are bome by Charity 89 partof the gMt to thtr GTal3. No Ill I1Ved gny ronmmTr in ¢onnè¢tlon wah duties ts th Charfty (2022: £nlll. Thts lay IrL•tee w88 relmtyur8ed £380 (2022 £2521 for expertse81ft 7 TA¥AUoft Th8 OfTh6DaofThè c htemAUoNal18 a tharlty IheT81ote [8 not liabb to Onne taxorwNatiDn tsx Inwmè ¢erNedfrm its tharttable 2022 Mirk•tV8luè at l Jll£20?3 I8.7..061 Unmf15ed lives19S lknssesl •lvAkw#131 l>•wmb•r2D23 1 J21118 1.944A(61 I7, 641 16,07B,526 S.OX41B 9XI5A138 Of the Ie$1ments l%ld at 31 Dewthw 2023 (1 £17X157,641 12022.. £lb.07#.526) £1,119,925 (2tr22: £984,1) 1#?¢$ lo fimds hdd for (2022.. t)1 PInS ol the bvoMdwldeCfflgrwJatton oltrR Daugthr8 ofth? Cro&¥ ofLkge. At 31 De¢emiw 2W23. the InVestr tre het(l asf01kv. ZV23 2022 Lid irsv•Jknnts COIF Ch•Tibès £ttMuo1 InvubrnilFwh B1&R00k C4Wl¢ Ch&7ltsb Oroyth 4 Inomo Fund I.BZl.QaB 7.172.458 17.05T.841 18.079.626 Net Inv•sfvntp#lrkB (bjssts) deaLtw4th In SOFA ar8 rnadÈwp 48 t£.. 1.321115 11,9Mth051 80.734 113.294 1337WI ¢1,B31211 L•.. Othw I1)1555{5etrbklVI Qdn ISOFA Invts5Lnwnt managprs ore CGU4 Fund f4¥dnageTrLlmited. wilh Inve5tsnenl kn COIF Ch Elhie21 Inv88tm8nt Fund, WaekRock Fund Managarn Llmrted, th investwwl BknKRc CatlKJI* Gtlarttks Growih & Irne Fund. CoNJregaiion OfThe Oawters Of The Cr055 IfttefnaUcal 21
Noté¥ to thè.Ilnandal statempnts 31 DacernbwO23 Inv¢#tknvnts.(contlnwl) tsurfng the yw. thp trusle8&cardefl out & thlew Investmènt maftgg8ts. with the htylp oftht G¢neral FlnJncèAdvisoryCommilte&.An exten8N¢ prowwas undettaken, reAiiilln9 in the relent ofCCLA Fund M'aTragétk Lkned and tiip apkxiirthenlof Zere.Cta..l In plaw.of thckw FuTrJ manag Llmited, As al lh¢ bal.Per dale the transfer of ihveslrnents to Gazenwe C•p#al had not tskon Plo1 th18 happ04 In.Ltte seurynd quarter'of 2024. titiier investinwa on% 01£85.7.34.12022'.10&80801£11.3294>rernwt"gkin8 ihtre.¥iecl:crf IibvestnRnts held onbehal (Ipat¢¥.gfthv wwl.dwKI¥Congregailrii.of"Ihe LlaugNÈern of tho. eross of Lieoe, hence they not attrtI8I)lè tr the Charity's 'Stalemenl ol Financ5al. ACtIvforth yèar, a1 nou..]hddedin.¥elI0tr>r3 a¥ heldon141f0f thp3¢ pts" Are adJus184 w>tdjn#ly. g D•bt¢r• 2022 PrOparien15 and.:gtèwad IhbTh. . 84,nJ 44,130 44,1¥0 1"Q .eTedltNs= amounts.falling duewtthiri Dhe ypar 20ZJ S..B40 39,6b2 dlYAklts held On behoW•f'wtsolfv¢MgwalonrAthe tyaufv. ol 174638 214240 g2,8bi 107.'828 qf Cw•ditoY•: amounts f•llliig due aftét more on? year 2022 Amounts held gn b•hall of palts of Ih• of th Daughtersof Iha Cros8 of Llege 1,189,2BO 1.1 Restrioted.fvn. The fund$ oflh¢ clari_ty In¢lLldo Ihofdk>Wlrfg'rIGl¢d funds vjhld) Va been ¢10gltwKh in. ¥(vrdAn wlth rpBtrictiunB 8r91d ty th¢ donors iif.ttE'!ur¥JB" Gglns l January 2023 Pa .Fvnd 358.,511 &1.'149 3BS,216 Qo"n9re9atlon OIThé Daught•rs Of The Crostjntèfyl#ffonal 28
riotss to th? Ilnanclal slatsments 31 De¢atr2tr23 12 Regtrl¢ted fvnds (ecnltnued) At At31 4K163 2&810 2,507 14756) 4810 141.409) 358,511 Patrlfflony Fund repr a pablnwy dDnd lo Ihe Chathy. the teBtrittknri that•w tTh)niesdondltom thatnd nwBI b8 spertorilht dwi404aywe5far8 ofthE VIX ed for by the wotl(hvide Congra[ Df the DaughteTr of the CTog9 of Liege. 13 EndOwMw lund Th8 EndDwrnent frjnd Yeprégts 4 £2m Iwti¢) re(thwl In 20H: th t)f Wthloh re4iHreO the donalon ts be InveBbd and Ild as an EThJowffnl frJNI. A worx¥tkm of fund, to 3.5% ofthe value dthe fund at the beginniw ofthe fjrtanclal year, may be uaed tr$upwlthe runnlng olthèGèneralatè andlorlo expand and hanCe mi861Dn Dutlllg th¢ yegr un reylvrf. th¢ apptoachpdthe thmmofthe Fund Ind rewesled Ihat a ¢fwngtr be to the way thwl wfthdrnwal from the ld is Iwloteil. to the of vAlhdrawal amtyjnt and the wiihdrval morp con3istsnt Irom year lo year. The donN8 agreed lo the trugtee8' request. and Ih ¢In been inW•mèrrtwJ 2£3. MOVent on th• End(trM fur durkng lh8 yegr ended 31 D¢rffdJer 2023 46 94l•hL•bugtfO1Ward 8t 1 Januwy202a InveslmoTht In¢me th.. unt•th"68d gths IfosW8) Lo. Wthliawl$trom th•fund BAkne• (•Rlod fDtstt 31 DéÈ8rAJw2023 4.B82.547 a82,213 16J.GJ6 66425b 4,389.618 1802.8Y91 14 IleBIynated funds ofthg Cl IhB foltswkn9 desigMt¢d fundF whlth Mve been set as l of (mrestrlct%vJ luntts by the Illtsteek kn speclf pur. AtJi 2D23 d•sknalkw Dorokn9 2023 Fd Efitrdg Fund Sthd¥tyFur 100,9D8 383ffj05 9,th9.180 10.103,893 11.7171 12SWO {4,341) 417P37 P38.n21 10,404221 344.7901 10,946,280 37.7T3 1.043,775 1.107.357 Cororegatton OfThe Dwghter¥ Of Th8 cr InaOnal 29
Notas to th0f1fftan¢i $tAtemémts 31 Decembér2tr23 14 Dèslgnated fund8 (rMllnu? AtJ.I 12? 79.011 ,50& (46111. 100,908 9.675.531 54Q0981 1.1.,027,.470j. 9,699,18¢i .13T.Ort1 .12t3.rm} (f."099.4391 11.2S1.4431 iQI8S,#9 1è.$40,575 Thè Ch•W Fund ¢Qhyise¥ amoun19 dgsignatod. to C4Jntriknte to.the cosls of" tho'"nexl fj¢rtr41 Ch£pterolthÈworkprtMoCongre9ation tsf the D#"ughtet9f the Croa# oiLkny&,whh 18 dyeto tske place kn May 224 and ftffivhldvllie knwees pxpe#lo graNiunds., The Enlraidè F.und ¢rynprisès nlontes d&slgnated for help for poor arwnd thè worfo.. Th18,rnr¥w WOB.dtsnat8d by Entrde Irfe"Matfi01o ASBL, a"¢)arity basedin Belqium, th'e.. alth olvthjthwaf.ty.trdp thB pcor.aTrJ IheltU8tees have desEtedtNsfUnd lo carry onthe. wrMt(" of that charlty.. The hJnd9 A Invesled And iip.to 3..$% of Ihe W8.011hty.fv1 at Ihe beginning olthe year se1.dé. ond1$ regLl•rty. Lw4ty.8nntsolly. Ognatpd to apwowtslQ The SoiidaTIty Fund has.been designated t(1 pde fvntlg','for.th]4knnè arfslng I11 the tJWKle CtyngreBation fJnÈneial r¢yr)urces' may be néeded. Thesp gtuaknong may. be roullne or wiieffjenoy ty roture, is6iies caufjing wceni currerfy, 'or.sttuatIo vhw¢ Ui$rq GrinGèin8 for tho fuiwa wh.gre thè Chity mtty bè eaued ofri to. &mstd prov"K3lnu a8slstan(. 15 Analys15 01 Ilbl asg•ts b'etWèery.fund5 "TOtb runds nd a13J Dt¢emMer21Zi' 4fE rèpMited by: lovestments 1.056.221 1o,trA,o US,216 4.60Tr-,255 It.obiii (lJ52.Wi. 1S,ts]D Tolal Corgregation OfTh0 Dau9bters Of Thè ¢ro>g Inje.10naI 30
Not•s to th•fjnindal ststemeDtS 01 Decener21)23 15 An18 ¢1 n•t ao1¢ts b•lw•En tsnds t(¥)rtthied) .171.4rf1 V07.8¥ QP.82aJ 35¢511 4.389.6¢B I4.98$2 Thè total unrtallsed galns as al 31 DeGember2023 ththments èn revalLMlton 2Q23 2022 .002.22J. 8.774484 ReEgnGIIIBUon ol movwrnnts kn unreallsed lD¥ LtsTralwed gains at l Jwurykn23 Unre81iwd gaiTh5 Uass8o)Afiwg in y Notr•dl8ed dl¥4* 1774484 8.954.123 1,324115 11,944,508) P4376) (235.1311 Total unwIld g4kns •t X Do¢ember.2023 400282J 6,774,484 16 Related party tran5acilo The maiorlty of iruslees are m•mbeYs of the wtylrkvtde kna1} ol thp Daughters of the c85 of Lie99. Gt4nlB may be made lo any part of1 Coffjreo&lon frryn iollmo. eorwwion Ofyho D•ughtorts 01 Th• Crw Irknmatis)nal .31