2025-09-30-accounts - The Charity Of The Regular Canonesses Of The Order Of The Holy Sepulchre Of Our Lord

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord

Annual Report and Accounts

30 September 2025

Charity Registration Number 1167869

Content

Reports

Reports	Reports
Reference and administrative details of the
Charity, its Trustees and advisers	1
Trustees’ report	3
Independent auditor’s report	22
Accounts
Statement of financial activities	26
Balance sheet	27
Statement of cash flows	28
Principal accounting policies	29
Notes to the accounts	35

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord

Reference and administrative details of the Charity, its Trustees and advisers

Trustees	Sister Moira O'Sullivan CRSS – Chair (ex-officio)
	Mrs Sheila Alder ( resigned July 2025)
	Ms Grainne Gilmore
	Sister Margaret Mary Horton CRSS
	Mrs Jane Swadling
	Mr John Graham Tomlins
	Mrs Christine Webb
	Dr Bronwen Pitt
Prioress	Sister Moira O'Sullivan CRSS
Bursar	Sister Mary Christina Birmingham CRSS
Financial administrator	Mrs Anne Bray retired July 31 2025
	Mrs Emma Parker from June 2025
Principal address	74 Howe Close
	Colchester
	Essex
	C04 3XD
Telephone	01206 867296
Charity (CIO) registration	1167869
number
Auditor	Buzzacott Audit LLP
	130 Wood Street
	London
	EC2V 6DL
Bankers	Reliance Bank Limited
	Faith House
	23-24 Lovat Lane
	London
	EC3R 8EB
Investment advisers/	CCLA Investment Management Limited
managers	Senator House
	85 Queen Victoria Street
	London
	EC4V 4ET

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 1

Reference and administrative details of the Charity, its Trustees and advisers

Land agents Savills Parkview House Victoria Road South Chelmsford CM1 1BT Solicitors Howes Percival Solicitors The Guildyard 51 Colegate Norwich NR3 1DD Stone King LLP Boundary House 91 Charterhouse Street London EC1M 6HR Conveyancers Dyer and Crowe Limited 22 Duke Street Chelmsford CM1 1HL

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 2

Trustees’ report Year to 30 September 2025

The Trustees present the annual report and accounts of The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord (the “Charity”) (the CIO) for the year ended 30 September 2025.

The report includes details of the works and aspirations of the Community of the Regular Canonesses of the Holy Sepulchre of Our Lord in England (the “Community”) comprising 11 members being the one autonomous Community in England and part of an international Roman Catholic Religious Order which began in the 12th century.

The accounts accompanying this report are the accounts of the Charitable Incorporated Organisation (CIO) which is registered with the Charity Commission under Charity Registration Number 1167869 through which the assets of the Community in England are administered. The accounts have been prepared in accordance with the accounting policies set out on pages 29 to 34 of the attached accounts and comply with the Charity’s Constitution, applicable laws, applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and the requirements of 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 United Kingdom and Republic of Ireland (FRS 102).

Objects, aims, objectives, activities and relevant policies

Charitable objects and aims

The Charity’s objects, as set out in its Constitution, are in connection with the Roman Catholic Religion, carried out in ways and places chosen by the Trustees.

Within these charitable objects, the Charity has sought:

♦ To be of service in meeting local needs in the areas where the Community is resident, and then to sustain, support and develop these ministries, underpinned by further training as needed. Increasing age profile, decreasing number of Community members and greater frailty will necessarily reduce the extent of this outreach and will change its nature.
♦ To continue to maintain live links with our sisters in Africa and to support them in whatever ways we are able in the year ahead.
♦ To continue to engage people around us in reflective discussions on spiritual questions. For the coming year we have planned a programme exploring some of the difficult ethical and moral questions facing Christians today.
♦ To continue work on our legacy going into the long-term future. This will involve ‘writing the final chapter’ of our story with a researcher experienced in working with Religious Communities.
♦ To ensure that we are able to adapt and provide well for the care and changing needs of the ageing Community. This will include the recruitment of further key welfare staff.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 3

Trustees’ report Year to 30 September 2025

Principal activities during the year

The Charity has continued to live according to its Constitution and Spirituality, within the increasingly restricted possibilities of an ageing Community.

Some of the aims of the Charity have again been met in an increasingly more limited way than previously and Zoom remains a key means of reaching out to others for those of the Community who are physically restricted.

Volunteers

Throughout the year, members of the Community have given their time in a voluntary capacity to assist people who are in need. All this work comes with no financial reward but contributes significantly to the overall objectives of the Charity. The work has been adapted to match the changing capacities and needs of the Community, but has continued to involve the following, albeit in a more measured way: education, spiritual guidance, parish work, local community outreach. In addition, some sisters are involved in the administration of the Charity.

We are equally aware that the Charity’s activities only function so well as a result of the many volunteers who give their time generously to further the objectives of the Charity. This includes those who support our outreach and also those who are part of our advisory groups supporting the Charity administration.

Conscious that we wish to report on the Community’s voluntary work at the level of the minimum wage, we have tried to give some overall sense this year of what that contribution is currently, from both Community members and volunteers.

We have estimated that on average we could claim that 80 hours a week voluntary work has been done on behalf of the Charity either by Community members or by our volunteers. The minimum living wage for 2025 was £12.21 per hour. This amounts to over £900 a week of time voluntarily given to build up our local communities and support those in the greatest need.

We made the change over to the new safeguarding services for Religious and are members of both Religious Life Safeguarding Service (RLSS) and Catholic Safeguarding Standards Agency (CSSA). The checks for our volunteers are up to date.

This is our eighth year of working with a finance committee and the input of members has been key to our remaining in a good financial position despite the national and international uncertainties of the past 12 months.

Protection of Children and Vulnerable Adults

The Trustees recognise the absolute necessity of ensuring the protection and safety of all those people whom the Charity serves. All the sisters who are involved in any kind of ministry have been checked by the Disclosure and Barring Service (DBS), as have all the adult volunteers and members of staff working in the house. The Trustees are committed to the implementation of all the policies and procedures proposed by RLSS and CSSA.

We have a written policy for safeguarding our vulnerable beneficiaries, and that there have been no serious incidents in respect to safeguarding to report during this last year.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 4

Trustees’ report Year to 30 September 2025

Equality and diversity

Awareness of social diversity and inclusivity and the importance of equality of opportunity, every employee is asked to do annual online training on this topic through Bright HR.

Our employee profile shows a cross section of ages and ethnic backgrounds.

The groups we run are open to all and include members from diverse backgrounds and ethnicities. Our homework club for example includes Syrian Afghan and Moroccan children. Our Wisdom group includes several members with a variety of disabilities, and we make every effort to ensure that all the outings etc are accessible to all.

Choices in favour of environmental sustainability

The Trustees are also conscious of the need to exercise good stewardship towards the planet and to leave a positive lasting legacy in favour of the environment.

Every effort is made to make choices which favour sustainability for the planet for the future. This is evident both in our investment choices and in our day to day living. We recycle, save energy where possible, make purchases both of food and equipment which are best for the planet as well as ourselves. Our ‘fleet cars’ are all hybrid. We recycle rainwater and have solar panels on our largest house.

Public benefit

All the Trustees are conversant with the Charity Commission’s guidelines concerning Charities and Public Benefit and have given consideration to them when assessing our activities. We therefore believe that we have complied fully with the duty in Section 4 of Part 1 of the Charities Act 2011 to have due regard to the Public Benefit guidance published by the Commission.

Fundraising policy

The Charity aims to achieve best practice in the way in which it communicates with donors and other supporters. The Charity takes care with both the tone of its communications and the accuracy of its data to minimise the pressures on supporters. It applies best practice to protect supporters’ data and never sells data, it never swaps data and ensures that communication preferences can be changed at any time. The Charity manages its own fundraising activities and does not employ the services of professional fundraisers.

We have effectively sought to monitor and assess the good use of monies given during the year through the hard and focussed work of one of the Trustees who has this as her particular responsibility.

The Charity undertakes to react to and investigate any complaints regarding its fundraising activities and to learn from them and improve its service. During the year, the Charity received no complaints about its fundraising activities.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 5

Trustees’ report Year to 30 September 2025

Investment policy

There are no restrictions on the Charity’s power to invest. On 30 September 2025, the Charity’s investments were managed by CCLA. The investment strategy is set by the Trustees with advice from their investment managers. It takes into account the Charity’s income requirements for the year, the risk profile and the investment managers’ views of the market prospects in the medium term.

The policy is to maximise total return through a diversified portfolio whilst providing a level of income as advised by the Trustees from time to time. The Trustees also have an Ethical Policy which precludes investment in any company, which after reasonable enquiry, clearly generates significant profits from an activity which is contrary to our ethical policy. This policy has been reviewed and updated during the year past.

The performance of the portfolios and the Charity’s investment strategy are reviewed by the Trustees whose representatives meet with the investment managers on a regular basis.

Grants, donations and support of missionary work and ministry

The Charity has handed its major regular financial support of the African Priories to its legacy charity Elijah’s Pot CIO (Charity Registration Number 1195718).

Any donations or fundraising done through this Charity is sent directly to the nominated African project.

Whilst the Trustees give donations to United Kingdom organisations whose work is within the objects of the Charity, the Charity does not regard itself as a grant making entity and applications for grants and donations are not invited.

Social and pastoral work of the Community

The Community has continued its active ministry as far as possible. Our particular Ministries are chosen as expressions of the Community’s spirituality and charism, and stem directly from the essence of the identity as Canonesses of the Holy Sepulchre.

One of the most important aspects of our identity as Canonesses of the Holy Sepulchre is to live alongside people in their ordinary lives - seeking to bring God to people in the everyday circumstances of life, as well as in heightened personal or liturgical experiences. We are Community people, living community and building community wherever we are. Our community life of prayer and ministry seeks continually to find appropriate and effective ways of living and sharing the Gospel with the people around us.

Our whole life, therefore, has a particular accent on inclusivity. Our moments of shared prayer are open to all, and our Ministries often focus on people who may find themselves on the margins or who are losing hope.

We give concrete expression to our charism in ways best suited to the area where we are living. We respond to local needs in ways appropriate to the situation and to our skills and experience. We have continued to engage in relevant training, have secured funding for some of these activities, and have always sought to work collaboratively.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 6

Trustees’ report Year to 30 September 2025

Keeping abreast of developments and legislation relevant ministry is always a point of attention and all of this has been done via Teams or Zoom again this year. Some members of the Community and Trustees have done online training related to protection of children and vulnerable adults for example.

As has already been mentioned, changes in safeguarding structures has been high on our agenda and we have been fully engaged with those movements and proposals.

Since January 8[th] , 2024, Peter Twist has been working full time as the Operations Manager for the Community. His role will become evident through this report. He has taken on the safeguarding elements of the role and is fully conversant both with the structures of RLSS and CSSA and with their demands.

He has been preparing us for a possible audit and has put in place renewed training and

paperwork.

One of our Trustees (Christine Webb) has taken on specific responsibility for Safeguarding and has been on several training courses run by both RLSS and the Charity Commission, including Level 2 & 3 Safeguarding Prevent Training, Data Protection and GDPR

Some of the Community members are also trustees of other charities which have been created as legacy CIOs – for example OODIL CIO (Charity Registration Number 1186851); Elijah’s Pot CIO (Charity Registration Number 1195719); and The Charity of the Cemetery of the Canonesses of the Holy Sepulchre CIO (“the Cemetery CIO”) (Charity Registration Number 1189656).

The Community always offers a place of open, inclusive welcome, and that particular gift was shared with the local Communities and parishes.

As Canonesses, the Community follows the Rule of St Augustine and finds inspiration in his dictum:

‘Since you cannot do good to all, you are to pay special attention to those who, by the accidents of time, or place, or circumstances, are brought into closer connection with you.’

This has demanded some creativity and change in order to be safe and keep others safe.

Meeting local needs

Some of the Community volunteer with other charities in Colchester –a local Charity shop and a neighbouring weekly church open house session

Apart from a weekly coffee group in Colchester, organised activities generated by ourselves are now confined to Melbourne where the Community runs a Homework Club (twice a week); the Toddler Group and the Wisdom Group for the elderly. These groups are run by the Community but involve upward of 20 volunteers each week.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 7

Trustees’ report Year to 30 September 2025

There are currently over 60 people in the Wisdom group who enjoy a variety of activities including outings as seen here.

Homework Clubs also engage local sixth form students as helpers.

Toddler group

The Community also organised a week of summer activities for children which involved 40 children per day. This also engaged 9 young people – mostly from the estate – as team leaders – photos below.

The weekly friendship group – CCC – in Colchester has also met regularly.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 8

Trustees’ report Year to 30 September 2025

Social and pastoral care for our sisters in Africa

As the Community is part of a wider Association of Communities worldwide, the Charity has continued to have a special care for sisters based in the Democratic Republic of Congo and in Rwanda.

They are supported through prayer and material care with their basic needs. We also involve our many contacts in getting to know about the political and social situations in both countries, particularly through our annual Africa newsletter which is always well received.

The Christmas Giving scheme - Light a Candle for Africa - was run for the eighth year and again raised £1,525 for particular named projects in Africa.

The money raised through these small fundraising events is sent directly to the African Priories.

The projects supported this year have included: the health provision in Goma; a school in Rwanda for children and young people with physical disabilities; and a health centre care in Kindu – representative photos below.

FROM KINDU

FROM GOMA

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 9

Trustees’ report Year to 30 September 2025

During the year we have paid a further visit to our African sisters ministering with migrants in Dunkirk. We took the chaplain from New Hall School with us with a view to establishing a link between the school and the project run by the sisters.

----- Start of picture text -----
SHARED LUNCH AD
CONVERSATION IN DUNKIRK
----- End of picture text -----

THE SCHOOL IN RWANDA

THE SCHOOL IN D R CONGO

We have also collaborated with New Hall School over the past year on a project with the Priory in Rwanda to get visas for 4 sisters to come and work in chaplaincy at the school and to be part of our Community during their time off.

The four sisters arrived in England mid August.

Finding opportunities to engage in reflection and discussion on spiritual questions

The Community continued to offer opportunities to pray and reflect together throughout the year. There are open prayer times four times a week. There is a weekly selection of readings and reflections sent every Saturday. During Advent and Lent there were reflective Zooms each week.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 10

Trustees’ report Year to 30 September 2025

This year the Community collaborated with the Chaplaincy team at New Hall to offer a residential Easter 4 days to friends and contacts.

This was a very successful venture and included creative liturgies as well as opportunities for reflection and relationship

The theme for second year running has been ‘TODAY’S BIG QUESTIONS when we have addressed some of the burning questions that trouble today’s Christians:

We have examined further difficult contemporary questions to do with gender identification, the role of the church, assisted dying.

We have run four main sessions this year with input from eminent personalities: Professor Tina Beattie; Professor Jessie Rogers, Dr Liam Hayes and The Revd Canon Professor James Woodward; Each session was followed by a further session for discussion and reflection.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 11

Trustees’ report Year to 30 September 2025

We began our year with an in person session led by Professor Tina Beattie at New Hall. This was a bold and stimulating input which gave rise to an excellent discussion between students and older people.

Equally stimulating was Dr Liam Hayes’ presentation of his research looking into why people no longer go to church. This was another in person session and the cross generation discussions were rich.

We ended our series reflecting on today’s Big Questions with some very stimulating input around the Assisted Dying debate from The Revd Canon Professor James Woodward who is the Principal of Sarum College

Immediately after Easter we led a pilgrimage along St Patrick’s Way in the Norh of Ireland. We were 18 pilgrims of different religious persuasions who came together as an inclusive community of searchers.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 12

Trustees’ report Year to 30 September 2025

Our annual mass for the Dead in November at New Hall was extremely well attended and appreciated.

Work on our legacy

We are still in good ontact with Dr Cormac Begadon who has worked for some years on our archives and he came to Essex in November to give a talk at the start of Advent

This year we have been working with Dr Catherine Sexton who is chronicling the last 40-50 years of our history.

She has had free access to all our meetings material and is at the stage of riting a first draft for approval.

This will be a seminal work as it will involve and include the years leading up to and including our decision to leave New Hall and the subseuent relocations.

This year has also seen the full transfer of the pledged gift to the Centre for Catholic Studies endowment of a Chair in the History of Catholicism. The first holder of the newly established Chair was appointed at the end of September 2025. The year has also seen the start of the Advisory Board of which one of the Trustees Jane Swadling is a founder member. She has already represented the Trust at two gatherings in Durham.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 13

Trustees’ report Year to 30 September 2025

Good stewardship of land sale monies

The Trustees have spent more time and consideration on the future of the Inglis Road property.

Initially the property was put up for sale but there were no serious offers to consider.

Professional advice has been sought at every stage and the Trustee decision was made to spend a moderate sum on a refurbishment of the property. Once this is completed and the market considered anew further decisions will be taken as to whether to sell immediately or rent the property.

During the year the life tenant of New Hall Farm decided to leave the property and relocate near family in Suffolk. This was prompted at least in part by the deterioration of the property (on our land adjacent to New Hall) and his own increasing age and frailty.

This has prompted the purchase of a property in Suffolk where the tenant will remain to honour the obligation the Trust has to him for a life long tenancy.

Considerations as to the future of the house, barn and land adjacent to New Hall are underway.

Care for our own Community members

In common with many Religious Orders and Congregations in England, the profile of our Community shows an increasing average age. Several elderly sisters have continued to need significant care and support. We have been well served by the National Health and local Care Services but have also felt the need to supplement that provision with further resources in order to give the fullest support and dignity to those two members of the Community. We have been engaged proactively in looking at how to meet welfare needs more fully going into the future.

----- Start of picture text -----
3 SISTERS 3
UNDER SISTERS
80 OVER 90
4 SISTERS
BETWEEN 80 AND
90
----- End of picture text -----

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 14

Trustees’ report Year to 30 September 2025

The Community is committed, both morally and legally, to provide care for all its sisters, none of whom has resources of her own. The Trustees are aware of the need to make provision for the future care of each sister and therefore continue to give careful attention to the Community’s property requirements and financial needs both now and in the years ahead. The Trustees have continued to address the needs for good maintenance and repair for the properties already in their possession and occupied by the sisters.

The first appointment of a full time Care Manager to oversee the health needs of the Community was not a good appointment and it came to an end in December 2024. The subsequent appointment of Mandy McNamara in January 2025 has been successful and she has worked hard to build a good team of Carers around her.

We now have four of our own staff, a new cleaner and a four day a week cook all in Mandy’s team and all fitting into our home as well as could be hoped for.

Our Operations Manager Peter Twist has worked with Mandy on full training for all staff and Trustees through Bright HR and a comprehensive set of Health and Safety audits and Risk Assessments.

Financial review

Market volatility

This is the fourth year wherein our reporting narrative and financial results have been significantly affected by external world circumstances and the consequent changes in stock market fortunes and the cost of living crisis experienced in the UK.

Our finance committee has guided us through the volatilities of the stock market in a very able way and our financial recovery has been good, aided by the careful realigning of our assets. Whilst there will undoubtedly be challenges ahead, we do not expect material concerns to arise over the Charity’s financial position.

Results for the year

A summary for the results of the year ended 30 September 2025 can be found on page 26 of the accounts.

Total income for the year amounted to £572,426 (2024 – £586,935). Of the income £232,387 (2024 – £174,502) was received by way of donations and legacies. This figure includes salaries and pensions of the sisters amounting to £137,518 (2024 – £136,270) covenanted to the Charity and a legacy in 2025 of £51,784. Investment income and interest receivable totalled £305,662 (2024 – £377,788).

Expenditure totalled £2,071,396 (2024 – £673,300). Donations payable totalled £1,248,128 (2024 – £18,910). In 2025 donations included a £1.2m endowment to part fund a Chair in Catholic Studies at the Centre for Catholic Studies in Durham. Further details of donations payable in the year are given in note 4 of the accounts. Expenditure incurred on maintaining the members of the Community and supporting them in their pastoral work and ministry amounted to £758,084 (2024 – £589,149) and includes expenditure on governance of £17,970 (2024 – £16,200).

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 15

Trustees’ report Year to 30 September 2025

There was a net decrease in funds for the year of £1,801,887 (2024 – increase in funds was £595,024).

Investment performance

During the year to 30 September 2025, losses of £302,917 (2024 – gains of £681,389) arose on the Charity’s listed investments reflecting impact of economic downturn on the stock markets. The Charity’s investments generated investment income of £258,088.

Reserves policy and financial position

The Trustees have examined the requirement for free reserves i.e. those unrestricted funds not invested in tangible fixed assets, designated for specific purposes or otherwise committed. The Trustees consider that, given the nature of the Charity’s work, the level of free reserves should be approximately equal to two to three years’ ongoing expenditure. The Trustees are of the opinion that this provides sufficient flexibility to cover temporary shortfalls in incoming resources due to timing differences in income flows, adequate working capital to cover core costs, and will allow the Charity to cope and respond to unforeseen emergencies whilst specific action plans are implemented.

The balance sheet shows total funds of £13,004,245 (2024 – £14,806,132). Of these funds, £103,444 (2024 – £100,057) are restricted and are to be applied for specific purposes. £2,956,025 (2024 – £2,710,138) are represented by freehold properties, excluding the property representing the Gateway of Hope designated fund. A decision was made to separate these funds from the general fund in recognition of the fact that assets are used in the day-to-day work of the Charity or by organisations for charitable purposes in line with the Charity’s objects, and as such their value should not be regarded as funds that would be realisable with ease, in order to meet future contingencies.

Funds totalling £7,853,000 (2024 – £9,050,000) have been designated, or set aside, by the Trustees for specific purposes. £5,750,000 (2024 – £5,750,000) has been set aside to meet the costs for the care and welfare of the sisters in their old age. The amount set aside has been calculated, using actuarial methods, to provide a modest sum towards the upkeep and care of the sisters in years to come.

Following the sale of the investment property comprising land at New Hall in October 2014, funds totalling approximately £12.5 million were set aside in a ‘charitable donation fund’ to be used to finance grants and donations including new charitable projects overseas. The balance on this fund at 30 September 2025 was £2,000,000 (2024 – £2,000,000). A balance of £1,300,000 remained on the designated Gateway of Hope fund, to make provision of housing for women in the Criminal Justice system. Further details about these funds are given in note 18 to the accounts.

Funds which are available to support the work of the sisters in the future are those shown on the balance sheet as the general fund and total £2,091,776 (2024 – £2,945,937). The Trustees believe that these free reserves are adequate but not excessive and consistent with the Charity’s reserves policy outlined above.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 16

Trustees’ report Year to 30 September 2025

Future plans for the Charity and the Community

We see the need for an increased focus on the need for care of Community sisters in the year ahead. We aim at the same time to keep the Community as alive and engaged as possible in an holistic way. Within this context, the Community, supported by its Trustees, aims:

♦ To be of service in meeting local needs in the areas where the Community is resident, and then to sustain, support and develop these ministries, underpinned by further training as needed. Increasing age profile, decreasing number of Community members and greater frailty will necessarily reduce the extent of this outreach and will change its nature.
♦ To continue to maintain live links with our sisters in Africa and to support them in whatever ways we are able in the year ahead.
♦ To continue to engage people around us in reflective discussions on spiritual questions. For the coming year we have planned a programme exploring some of the difficult ethical and moral questions facing Christians today.
♦ To continue work on our legacy going into the long-term future. This will involve ‘writing the final chapter’ of our story with a researcher experienced in working with Religious Communities.
♦ To ensure that we are able to adapt and provide well for the care and changing needs of the ageing Community. This will include the recruitment of further key welfare staff.

Structure, governance and management

The Charity is a Charitable Incorporated Organisation (CIO) governed by a Constitution dated and agreed by the trustees on 15 June 2016 and registered with the Charity Commission on 27 June 2016. The Constitution was amended on 30 March 2021.

Members of the CIO and limitation of liability

The members of the CIO are its trustees for the time being.

If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

Trustees

The names of the Trustees and details of changes during the year are given on page 1 of this annual report and accounts.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 17

Trustees’ report Year to 30 September 2025

At any time there must be a minimum of three trustees. The Prioress for the time being is automatically, ex officio, a charity trustees for as long as she holds that office. The Conventual Chapter may appoint additional charity trustees by a resolution at a properly convened meeting of the Conventual Chapter for: (i) in the case of an individual who is a member of the Community for such period of office as the Conventual Chapter shall determine; and (ii) in all other cases for a term of three years or such other term as the Conventual Chapter shall decide.

Governance

In terms of Canon Law, the highest authority in the Community is the Conventual Chapter, which is made up of all the perpetually professed members of the Community. The Chapter elects a Prioress every 6 years and the Prioress is de facto a Trustee of the Charity. As is expected in the Community’s Constitutions, Community members meet regularly as a full Chapter to reflect on the mission and to examine the life style and finances of the Community. Community members are involved with many outside bodies – such as the Diocese of Brentwood, the Conference for Religious, the Provincial Bursars’ Association and the International Association of the Regular Canonesses of the Holy Sepulchre - from whom we derive both support and updated guidance on best practice and policy.

Our finance assistant is now the clerk to the Trustees and last year attended the Provincial Bursars’ Conference and cascaded back to the Trustees on the following:

♦ Climate issues
♦ Employment law
♦ Disaster planning
♦ Cyber security

During the year, the Conventual Chapter voted to accept a further lay Trustee onto the board, Dr Bronwen Pitt a retired GP was invited to become a Trustee and she accepted. Mrs Sheila Alder resigned from the Board in July 2025.

Organisational Management

In terms of Civil Law, the Trustees of the Charity, are legally responsible for the overall management and accounting of the Charity and for safeguarding the assets of the Charity. They receive no remuneration or expenses for their service as Trustees. The Trustees meet once a month on average to review developments within the Charity, and to take decisions. The Trustees are supported by professional advisers, the most significant of these in daily management terms being our lay financial administrator. Other professionals, including investment managers, solicitors, and auditors are consulted as appropriate. Trustees have delegated responsibilities and try to keep updated within their areas on recommended best practice regarding appropriate policy requirements.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 18

Trustees’ report Year to 30 September 2025

The Community is involved with many outside bodies – such as the Diocese of Brentwood, the Conference for Religious, the Provincial Bursars’ Association and the International Association of the Regular Canonesses of the Holy Sepulchre - from whom we derive both support and updated guidance on best practice and policy.

Risk Management

The Trustees recognise their responsibility for the management of risks faced by the Charity, the Community and its individual members.

We continue to review and update our risks as well as the documents and procedures put in place the previous year under the guidance of our Operations Manager.

The areas identified for particular attention within our risk management strategy are:

♦ Governance and management
♦ Maintenance and Health and Safety
♦ Financial
♦ Litigation
♦ Reputational

The Trustees have continued to operate within the key areas of risk controls which include:

♦ Regular and frequent meetings of the Trustees with formal agendas and minutes;
♦ Comprehensive strategic planning, budgeting and management accounting;
♦ Established organisational structures and lines of accountability;
♦ Regular meetings with professional advisors to whom all our business is transparent;
♦ Establishing a clear authorisation and approved levels of decision-taking and spending; and
♦ Putting in place vetting procedures required by law for the protection and safeguarding of the vulnerable.

Time-frames exist for the annual monitoring of the risk assessments.

The key risks which faced the Charity during the year are as follows:

♦ An analysis of the age profile of the members of the Community shows that the average age in the Community at 30 September 2025 was in excess of 80 years. The Trustees are aware that there is both a moral and legal obligation to care for the older members. None of the sisters have resources of their own as all earnings, pensions and other income have been donated to the Charity under a Gift Aid compliant Deed of Covenant. As the age profile increases, so too does the need to provide care for the sisters. Key elements of the management of this risk are: (a) ensuring that the Charity has the
The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 19

Trustees’ report Year to 30 September 2025

available financial resources to finance this care both now and in the years ahead by setting aside assets in a designated fund, the value of which has been based on actuarial principles; and (b) ensuring that processes are in place to review regularly the ministries and needs of individual sisters encouraging those who need it to take on less demanding ministries and for identifying those who need extra care and help.

♦ Operationally the Charity works with children and vulnerable adults including older people. The Trustees recognise the absolute necessity of ensuring the protection and safety of all those that the Charity serves. This means that Sisters engaged in any ministry and all those who work or volunteer for the Charity and work with children or vulnerable adults must obtain clearance from the Disclosure and Barring Service (DBS). The Trustees are committed fully to implementing the policies of the Catholic Safeguarding Standards Agency (CSSA).
♦ The Charity donates significant sums in support of the activities of overseas Religious Communities with which the Sisters are associated and to other organisations. Whether or not the funds are used here in Great Britain or overseas, the Trustees always ensure that they are fully briefed about and familiar with the work of a potential recipient of funds, that funds are transferred via bank transfer, that proof of receipt is obtained and that, wherever possible (and always in the case of monies sent overseas), a full written report of how the monies have been utilised and applied is obtained from the recipient.
♦ The Charity's principal asset comprises listed investments, the value of which is dependent on movements in UK and world stock markets. The investments are managed by reputable investment managers who adhere to a policy agreed by the Trustees. The investments are monitored closely by the Finance Committee who meet regularly and adopt a pro-active position to change. The investment strategy is assessed regularly to ensure it remains appropriate to the Charity's needs both now and in the future. The Trustees meet with the Chair of the Finance Committee for regular updates. We have worked closely with our finance group and investment managers to ensure that as far as we are able, we do not invest in ways which impact negatively on the environment.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 20

Trustees’ report Year to 30 September 2025

Statement of Trustees’ responsibilities

The Trustees are responsible for preparing the Trustees’ report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity of the incoming resources and application of resources of the Charity for that period. In preparing these accounts, the Trustees are required to:

♦ select suitable accounting policies and then apply them consistently;
♦ observe the methods and principles in the Statement of Recommended Practice FRS 102 (Accounting and Reporting by Charities) (the Charities’ SORP);
♦ make judgements and estimates that are reasonable and prudent;
♦ state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and
♦ prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts comply with the Charities Act 2011, the relevant Charity (Accounts and Reports) Regulations and the provisions of the Charity’s Constitution. 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.

Key management personnel

The Trustees consider that they comprise the key management of the Charity in charge of directing and controlling, running and operating the Charity on a day-to-day basis.

Certain of the Trustees are members of the Community whose living and personal expenses are borne by the Charity. None of the Trustees receive any remuneration or reimbursement of expenses in connection with their duties as Trustees or key management personnel.

Sister Moira O'Sullivan CRSS

Signed on behalf of the Trustees:

Approved by the Trustees on: 18 March 2026

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 21

Independent auditor’s report Year to 30 September 2025

Independent auditor’s report to the Trustees of The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord

Opinion

We have audited the accounts of The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord (the ‘Charity’) for the year to 30 September 2025, which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accounting policies and notes to the accounts. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the accounts:

♦ give a true and fair view of the state of the Charity’s affairs as at 30 September 2025 and of its incoming resources and application of resources for the year then ended;
♦ have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
♦ have been prepared in accordance with the requirements of the Charities Act 2011.

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 auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the accounts 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 accounts, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the accounts 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 accounts 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.

Other information

The other information comprises the information included in the annual report, including the trustees’ report, other than the accounts and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 22

Independent auditor’s report Year to 30 September 2025

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts 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 a material misstatement in the accounts 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

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

♦ the information given in the trustees’ report is inconsistent in any material respect with the accounts; or
♦ sufficient and proper accounting records have not been kept; or
♦ the accounts are not in agreement with the accounting records; or
♦ we have not received all the information and explanations we require for our audit.

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees are responsible for the preparation of the accounts 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 accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, 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 liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the accounts

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.

Our objectives are to obtain reasonable assurance about whether the accounts 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 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 accounts.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 23

Independent auditor’s report Year to 30 September 2025

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

♦ The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
♦ We obtained an understanding of the legal and regulatory frameworks that are applicable to the Charity and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011); and
♦ We understood how the Charity is complying with those legal and regulatory frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through our review of the minutes of Trustees’ meetings.

We assessed the susceptibility of the Charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur. Audit procedures performed by the engagement team included:

♦ Identifying and assessing the design effectiveness of controls in place to prevent and detect fraud;
♦ Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
♦ Challenging assumptions and judgements made by management in its significant accounting estimates;
♦ Identifying and testing journal entries;
♦ Assessing the extent of compliance with the relevant laws and regulations as part of our procedures on the relevant accounts item to which they relate.

To address the risk of fraud through management bias and override of controls, we:

♦ Performed analytical procedures to identify any unusual or unexpected relationships;
♦ Performed substantive testing on expenditure; and
♦ Tested journal entries to identify unusual transactions.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 24

Independent auditor’s report Year to 30 September 2025

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

♦ Reading the minutes of meetings of those charged with governance; and
♦ Enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. 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.

Buzzacott Audit LLP 130 Wood Street London EC2V 6DL

Date: 16 April 2026

Buzzacott Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 25

Statement of financial activities Year to 30 September 2025

Notes	2025 Unrestricted funds £	2025 Restricted funds £	2025 Total funds £	2024 Unrestricted funds £	2024 Restricted funds £	2024 Total funds £
Income from: Donations and legacies 1 Income from charitable activities Other trading activities Investments and interest receivable 2 Other sources . Miscellaneous income . Surplus on disposal of tangible fixed assets Total income Expenditure on: Raising funds 3 Charitable activities . Grants, donations and support of missionary work and ministry 4 . Support of members of the Community and their ministry 5 Total expenditure Net expenditure before investment gains (losses) 8 Net gains (losses) on listed investments 12 Net income (expenditure) before transfers Transfers between funds Net income (expenditure) and net movement in funds Reconciliation of funds: Total funds brought forward at 1 October 2024 Total funds carried forward at 30 September 2025	213,404 31,052 2,819 305,662 506 —	18,983 — — — — —	232,387 31,052 2,819 305,662 506 —	147,033 30,384 2,861 377,788 — 1,400	27,469 — — — — —	174,502 30,384 2,861 377,788 — 1,400
	553,443	18,983	572,426	559,466	27,469	586,935
	65,184 1,240,057 750,559	— 8,071 7,525	65,184 1,248,128 758,084	65,241 18,910 581,610	— — 7,539	65,241 18,910 589,149
	2,055,800	15,596	2,071,396	665,761	7,539	673,300
	(1,502,357) (302,917)	3,387 —	(1,498,970) (302,917)	(106,295) 681,389	19,930 —	(86,365) 681,389
	(1,805,274) — (1,805,274)	3,387 — 3,387	(1,801,887) — (1,801,887)	575,094 16,388 591,482	19,930 (16,388) 3,542	595,024 — 595,024
	14,706,075	100,057	14,806,132	14,114,593	96,515	14,211,108
	12,900,801	103,444	13,004,245	14,706,075	100,057	14,806,132

All recognised gains and losses are included in the above statement of financial activities.

All of the Charity’s activities derived from continuing activities in each of the above two financial years.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 26

Balance sheet 30 September 2025

Notes	2025 £	2025 £	2024 £	2024 £
Fixed assets Tangible assets 11 Investments 12 Current assets Debtors 13 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 14 Net current liabilities Total net assets The funds of the Charity: Unrestricted income funds . General fund . Tangible fixed assets fund 15 . Designated funds 16 Restricted funds 17	70,919 176,969	3,867,647 9,004,677	75,766 202,629	3,621,760 11,098,258
		12,872,324 131,921		14,720,018 86,114
	247,888 (115,967)		278,395 (192,281)

		13,004,245		14,806,132
		2,091,776 2,956,025 7,853,000		2,945,937 2,710,138 9,050,000
		12,900,801 103,444		14,706,075 100,057
		13,004,245		14,806,132

Approved by the Trustees and signed on their behalf by:

Sister Moira O'Sullivan CRSS

Trustee

Approved on: 18 March 2026

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 27

Statement of cash flows Year to 30 September 2025

Notes	2025 £	2024 £
Cash flows from operating activities: Net cash used in operating activities A Cash flows from investing activities: Investment income Purchase of tangible fixed assets Proceeds from the disposal of tangible fixed assets Proceeds from the disposal of listed investments Purchase of investments Net cash provided by investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at 30 September 2024 Cash and cash equivalents at 30 September 2025 B	(1,790,770)	(439,443)
	273,179 (295,880) — 650,000 —	336,392 (6,954) 1,400 7,516,334 (6,967,783)
	627,299	879,389
	(1,163,471) 3,087,166	439,946 2,645,025
	1,923,695	3,087,166

Notes to the statement of cash flows for the year to 30 September 2025

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

	2025 £	2024 £ 595,024 51,074 (681,389) (1,400) (377,788) 4,581 (29,545) (439,443)
Net movement in funds (as per the statement of financial activities) Adjustments for: Depreciation charge (Gains) losses on listed investments Surplus on disposal of tangible fixed assets Investment income and interest receivable Decrease (increase) in debtors (Decrease) increase in creditors Net cash used in operating activities	(1,801,887) 49,993 302,917 — (305,662) 37,330 (73,461)
	(1,790,770)

B Analysis of cash and cash equivalent

Analysis of cash and cash equivalent
	At 1 October 2024	Cash flows	At 30 September 2025 176,969 1,746,723 1,973,132
Cash at bank and in hand Cash instruments - COIF Charities deposit fund Total cash and cash equivalents	202,629 2,884,537	(25,660) (1,137,817)
	3,087,166	(1,114,037)

No separate statement of changes in net debt has been prepared as there is no difference between the movements in cash and cash equivalents and movement in net cash (debt).

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 28

Principal accounting policies 30 September 2025

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

Basis of preparation

These accounts have been prepared for the year to 30 September 2025, with comparative information given in respect to the year to 30 September 2024.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The accounts have been prepared in accordance with 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 United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Charity constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in sterling and are rounded to the nearest pound.

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:

♦ Estimating the useful economic life of tangible fixed assets for the purposes of determining the depreciation charge; and
♦ Determining the value of the designated funds needed at the year end and, in particular, estimating the size of the retirement reserve created in order to provide for the continuing care of the members of the Community for the remainder of their lives;

Assessment of going concern

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 at least one year from the date of approval of these accounts.

The trustees acknowledge and recognise the impact of the macroeconomic and geopolitical climate and have concluded that there may be some negative consequences such as the volatility in investment values and any consequential impact on investment income.

The Trustees continue to communicate with their investment managers and, whilst there are concerns over the volatility in world stock markets, they acknowledge also that the Charity is a long term investor. The Charity’s Trustees keep a watching brief over the markets.

Undoubtedly there will be challenges ahead but the Trustees do not expect material concerns to arise over the Charity’s financial position or going concern. The Trustees have concluded that the Charity will have sufficient resources to meet its liabilities as they fall due.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 29

Principal accounting policies 30 September 2025

Income

Income is recognised in the period in which the Charity is entitled to receipt, the amount can be measured reliably and it is probable that the income will be received.

Income comprises donations, legacies, income from other trading activities i.e. fundraising events, investment income, interest receivable and income from other sources, including any surplus on disposal of tangible fixed assets.

Donations, including salaries and pensions of individual religious received under Gift Aid or deed of covenant, are recognised when the Charity has confirmation of both the amount and settlement date. In the event of donations and grants pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation or grant is subject to conditions that require a level of performance before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that those conditions will be fulfilled in the reporting period.

Legacies are included in the statement of financial activities when the Charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the Charity.

Entitlement is taken as the earlier of the date on which either: the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the Charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably or the Charity has been notified of the executor’s intention to make a distribution.

Where legacies have been notified to the Charity or the Charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title of the asset having being transferred to the Charity.

In accordance with the Charities SORP FRS 102 volunteer time is not recognised.

Income from charitable activities includes rental income from property rented to individuals whose needs fall within the Charity’s objectives,

Income from small scale fundraising events is accounted for when the Charity has confirmation of the amount due and receipt of the funds is probable. This will normally be on the date of the relevant fundraising event itself.

Investment income is recognised once the dividend or similar distribution has been declared and notification has been received of the amount due.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 30

Principal accounting policies 30 September 2025

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.

The surplus on the disposal of tangible fixed assets is calculated as the difference between the sale proceeds net of sale costs and the net book value of the asset immediately prior to disposal. It is accounted for once legal completion of the disposal has taken place.

All other income is recognised to the extent that it is probable that the economic benefits will flow to the Charity and the revenue can be measured reliably. It is measured at fair value and accounted for on an accruals basis.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is stated inclusive of irrecoverable VAT.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs.

The costs of raising funds include direct costs and overheads associated with managing investment property, managing listed investments, and organising small scale fundraising activities.

The costs of charitable activities comprise expenditure on the Charity’s primary charitable purposes as described in the Trustees’ report. Such costs include:

♦ Grants, donations and support of missionary work and ministry Grants, donations and support of missionary work and ministry relates to the support of work overseas carried out by Communities of sisters with which the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord is associated and the support of other charitable organisations with objectives consistent with those of the Charity.

Charitable grants and donations are made where the Trustees consider there is real need following a review of the details of each particular case and comprise both single year payments and multi-year grants. Grants payable are included in the statement of financial activities when approved and when the intended recipient has either received the funds or been informed of the decision to make the grant and has satisfied all performance conditions. Grants meeting this criteria but which are not paid at the end of the financial year are accrued. Grants where the beneficiary has not been informed or has to fulfil performance conditions before the grant is released are not accrued for but are disclosed as financial commitments in the notes to the accounts.

♦ Support of members of the Community and their ministry This comprises expenditure incurred on the maintenance, living and personal expenses of members of the religious community.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 31

Principal accounting policies 30 September 2025

Support and governance costs

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 are the costs associated with the governance arrangements of the Charity including audit costs and the necessary legal procedures for compliance with statutory requirements.

The majority of expenditure on support and governance is allocated to the charitable activities of care of members of the Community and enabling their ministry, with a small proportion allocated to expenditure on raising funds and provision of donations and grants. The allocation is based on the time spent on individual activities.

Tangible fixed assets

All assets costing more than £1,000 and with an expected useful life exceeding one year are capitalised.

♦ Land and buildings
Non-specialised property
- Non-specialised buildings are those designed as, and used wholly or mainly for, private residential accommodation. Such land and buildings are included in the accounts at cost. Such buildings are not depreciated. Their value and condition are reviewed annually by the Trustees, who are satisfied that their residual value is not materially less than their book value.
Specialised property
- Specialised buildings comprise the Charity’s large residential convent and Inglis Road which are included in the accounts at cost. Depreciation is provided at 2% per annum on a straight-line basis in order to write the buildings off over their estimated useful economic life to the Charity. No depreciation is charged until a property is brought into use.
♦ Motor vehicles
Motor vehicles are capitalised and depreciated 25% per annum on cost in order to write off each asset over its estimated useful life.
♦ Furniture, fittings, equipment and computers
Furniture, fittings, equipment and computers are capitalised and depreciated at rates between 6.67% and 33.33% per annum on cost in order to write off each asset over its estimated useful life.

Fixed asset investments

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

The Charity does not acquire put options, derivatives or other complex financial instruments.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 32

Principal accounting policies 30 September 2025

As noted in the Trustees’ report, the main form of financial risk faced by the Charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

Investment property, comprising land and buildings, is included in the accounts at fair value which is deemed to be open market value as at the year end date as determined by the Trustees after seeking appropriate professional advice (see note 11 to these accounts for further details).

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value is acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short-term deposits. Cash placed on deposit with the intention that it is held for more than one year is disclosed as a fixed asset investment.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the Charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Fund structure

The general fund comprises those monies which may be used towards meeting the charitable objectives of the Charity and which may be applied at the discretion of the Trustees.

The tangible fixed assets fund represents the net book value of the Charity’s tangible fixed assets.

The designated funds are monies set aside out of general funds and designated for specific purposes by the Trustees.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 33

Principal accounting policies 30 September 2025

The restricted funds represent monies raised for a specific purpose or monies subject to donor imposed restrictions.

Details of designated and restricted funds are given in the notes to the accounts.

Pension costs

The Charity offers its employees membership of a defined contribution pension scheme administered by Legal and General.

Employer’s contributions in respect to defined contribution pension schemes are charged to the statement of financial activities in the year in which they are payable to the scheme.

Services provided by members of the Community

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

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 34

Notes to the accounts Year to 30 September 2025

1 Income from: Donations and legacies

		2025			2024
	Unrestricted funds £	Restricted funds £	Total funds £	Unrestricted funds £	Restricted funds £	Total funds £
Salaries and pensions of individual religious received under Gift Aid or Deed of Covenant Voluntary income – Melbourne Project Other donations and similar income Legacies	137,518 — 24,102 51,784	— 8,083 10,900 —	137,518 8,083 35,002 51,784	136,270 — 10,763 —	— 18,123 9,346 —	136,270 18,123 20,109 —
	213,404	18,983	232,387	147,033	27,469	174,502

2 Income from: Investments and interest receivable

		2025			2024
	Unrestricted funds £	Restricted funds £	Total funds £	Unrestricted funds £	Restricted funds £	Total funds £
Interest on cash instruments Rental income from investment properties Interest receivable Investment income from income units	73,317 45,748 5,826 180,771	— — — —	73,317 45,748 5,826 180,771	141,629 40,675 3,830 191,654	— — — —	141,629 40,675 3,830 191,654
	305,662	—	305,662	377,788	—	377,788

3 Expenditure on: Raising funds

		2025			2024
	Unrestricted funds £	Restricted funds £	Total funds £	Unrestricted funds £	Restricted funds £	Total funds £
Rental property expenses Investment management fees Activities for generating funds Allocation of support costs (note 6)	9,411 — 2,124 53,649	— — — —	9,411 — 2,124 53,649	14,965 — 1,861 48,415	— — — —	14,965 — 1,861 48,415
	65,184	—	65,184	65,241	—	65,241

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 35

Notes to the accounts Year to 30 September 2025

4 Expenditure on: Grants, donations and support of missionary work and ministry

		2025	Total funds £		2024
	Un- restricted funds £	Restricted funds £		Un- restricted funds £	Restricted funds £	Total funds £
Support of missionary work and ministry . Grants in support of overseas missions Donations of £1,000 or more to institutions . CAFOD . Durham University . Elijah’s Pot Other donations to institutions Allocation to support costs (note 6)	6,331	8,071	14,402 3,500 1,197,000 20,000 1,220,500 1,603 11,623	360 1,540 — — 1,540 1,261 15,749	— — — —	360 1,540 — — 1,540 1,261 15,749
	3,500 1,197,000 20,000	— — —
	1,220,500 1,603 11,623	— — —
	1,240,057	8,071	1,248,128	18,910	—	18,910

No Donations were made to individuals (2024 – nil).

5 Expenditure on: Support of members of the Community and their ministry

		2025			2024
	Unrestricted funds £	Restricted funds £	Total funds £	Unrestricted funds £	Restricted funds £	Total funds £
Premises Depreciation Living and personal expenses Healthcare costs Retreats, spiritual direction, formation and other similar expenses Melbourne Project Allocation of support costs (note 6)	140,378 49,993 68,437 6,765 1,411 — 483,575	— — — — — 7,525 —	140,378 49,993 68,437 6,765 1,411 7,525 483,575	120,223 51,074 72,994 34,670 2,463 — 300,186	— — — — — 7,539 —	120,223 51,074 72,994 34,670 2,463 7,539 300,186
	750,559	7,525	758,084	581,610	7,539	589,149

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 36

Notes to the accounts Year to 30 September 2025

6 Support costs

Support costs
		2025
	Raising Funds £	Grants and donations £	Support of members and their ministries £	Total funds £
Staff costs (note 9) Other costs Professional fees Governance costs (note 7)	40,582 3,805 4,784 4,478	4,346 407 3,288 3,582	429,433 40,259 4,034 9,850	474,361 44,471 12,106 17,910
	53,649	11,623	483,576	548,848

		2024	2024
	Raising Funds £	Grants and donations £	Support of members and their ministries £	Total funds £
Staff costs (note 9) Other costs Professional fees Governance costs (note 7)	28,734 4,005 11,626 4,050	4,481 625 7,403 3,240	239,192 33,338 18,746 8,910	272,407 37,968 37,775 16,200
	48,415	15,749	300,186	364,350

The Charity has allocated its support costs on a basis consistent with the use of resources.

7 Governance costs

Governance costs
	Unrestricted funds £	Restricted funds £ —	2025 Total funds £	Unrestricted funds £ 16,200	Restricted funds £	2024 Total funds £
Professional fees	17,970		17,970		—	16,200

8 Net income (expenditure) and net movement in funds

This is stated after charging:

Net income (expenditure) and net movement in funds This is stated after charging:
	2025 £	2024 £
Staff costs (note 9) Depreciation Auditor’s remuneration (including VAT) . Statutory audit current year . Statutoryauditprioryear	312,726 49,993 17,910 —	272,407 51,074 17,910, —

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 37

Notes to the accounts Year to 30 September 2025

9 Staff costs and key management personnel

Staff costs during the year were as follows:

Staff costs and key management personnel Staff costs during the year were as follows:
	2025 £	2024 £
Wages and salaries Social security costs Other pension costs Agency Staff	283,942 19,343 9,441	157,729 8,325 6,801
	312,726 161,635	172,855 99,552
	474,361	272,407
The number of employees during the year was as follows:	2025 No.	2024 No.
Support of members of the Community and their ministry . Average . Full time equivalent	9.9 6.4	4.9 5.2

One employee earned between £70,000 and £79,999 (including taxable benefits) during the year to 30 September 2025 (2024: no employees earned over £60,000).

The Trustees of the Charity comprise the Charity’s key management personnel. They received no remuneration in connection with their duties as Trustees or their role as key management personnel during the year (2024 – none).

10 Taxation

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord is a registered Charity and, therefore, is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 38

Notes to the accounts Year to 30 September 2025

11 Tangible fixed assets

	Land and	buildings	Furniture, fittings, equipment & computers £	Motor vehicles £	2024 Total £
	Specialised property £	Non- specialised property £
Cost At 1 October 2024 Additions Disposals At 30 September 2025 Depreciation At 1 October 2024 Charge for the year Released on disposal At 30 September 2025 Net book values At 30 September 2025 At 30 September 2024	3,048,883 — —	1,243,354 295,880 —	34,191 — —	58,378 — —	4,384,806 295,880 —
	3,048,883	1,539,234	34,191	58,378	4,680,686
	681,321 42,729 —	5,312 — —	29,235 1,664 —	47,178 5,600 —	763,046 49,993 —
	724,050	5,312	30,889	52,778	813,039
	2,324,833	1,533,922	3,292	5,600	3,867,647
	2,367,562	1,238,042	4,956	11,200	3,621,760

Land and buildings include a property subject to a long lease originally of 150 years, commencing on 1 March 2007. The net book value of this property at 30 September 2025 and 2024 was £202,410. All other land and buildings owned during the year were freehold.

It is likely that there are material differences between the open market values of the Charity’s land and buildings and their book values. These arise from the specialised nature of the property and the effects of inflation. The amount of such differences cannot be ascertained without incurring cost, which, in the opinion of Trustees, is not justified in terms of the benefit to the users of the accounts. However, they are satisfied that their residual value is not materially less than their book value.

12 Fixed asset investments

Fixed asset investments
	Investment properties £	Listed investments £	2025 Total £	2024 Total £
Market values At 1 October 2024 Additions at cost Disposals (see below) Net unrealised investment gains (losses) At 30 September 2025 COIF Charities deposit fund (cash instrument) Cash held by investment manager for reinvestment Total investments at 30 September 2025 Cost of investments at 30 September 2025	1,606,449 — — —	6,607,269 — (669,526) (286,241)	8,213,718 — (669,526) (286,421)	8,071,334 251,449 (533,755) 424,690
	1,606,449 — —	5,651,502 1,746,726	7,257,951 1,746,726 —	8,213,718 2,884,540 —
	1,606,449	7,398,228	9,004,677	11,098,258
	294,258	4,765,931	5,060,189	5,849,034

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 39

Notes to the accounts Year to 30 September 2025

Disposals at book value included above are made up of the following:

	2025 £	2024 £
Proceeds Realised losses Disposals at book value	650,000 19,526	800,000 (266,245)
	669,526	533,755

Investment properties

The investment property comprises four residential properties:

♦ A farmhouse, barn and adjoining land which was valued at £375,000 by the Trustees based on indicative market values but subject to life tenancy at a peppercorn rent, using information provided by Elwell Taylor, Chartered Surveyors on 10 October 2023.
♦ Three residential properties which were revalued on an open market value basis on 10 October 2023 by the Trustees based on indicative market values provided by Elwell Taylor, Chartered Surveyors. The market values of these properties were £980,000 as at that date. The balance includes a fourth residential property purchased in the prior year and current valued at £252,000.

Listed investments

All listed investments were dealt in on a recognised stock exchange.

At 30 September 2025, listed investments and cash held by investment managers for reinvestment included £51,631 (2024 – £142,424) representing amounts administered on behalf of individual members of the Community. Included within the net gains on investments for the period are net losses of £2,117 relating specifically to these investments (2024 – net gains of £9,031). The net gains are reflected in the amount due to individual members of the Community and hence they are not accounted for through the statement of financial activities.

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 40

Notes to the accounts Year to 30 September 2025

13 Debtors

Debtors
	2025 £	2024 £
Investment income and interest receivable Sundry debtors Prepayments	50,384 3,446 17,089	58,482 3,124 14,160
	70,919	75,766

14 Creditors: amounts falling due within one year

	2025 £	2024 £
Monies administered by the Charity on behalf of individual members of the religious Community Expense creditors Accruals	51,631 46,436 17,900	142,424 33,237 16,620
	115,967	192,281

Monies administered by the Charity on behalf of individual members of the religious Community comprise listed investments.

15 Tangible fixed assets fund

Tangible fixed assets fund
	2025 £	2024 £
At 1 October 2024 Net movement in the year At 30 September 2025	2,710,138 245,887	2,760,412 (50,274)
	2,956,025	2,710,138

The tangible fixed assets fund represents the net book value of the Charity’s tangible fixed assets, excluding the property representing the Gateway of Hope designated fund. A decision was made to separate this fund from the general fund of the Charity in recognition of the fact that the tangible fixed assets are essential to the day-to-day work of the Charity and as such their value should not be regarded as funds that would be realisable with ease, in order to meet future contingencies.

16 Designated funds

The income funds of the Charity include the following designated funds which have been set aside out of unrestricted funds by the Trustees for a specific purpose:

	At 1 October 2024 £	New designations £	Utilised/ released £	At 30 September 2025 £
Charitable donation fund Gateway of Hope fund Sisters’ retirement fund	2,000,000 1,300,000 5,750,000	— — —	(1,197,000) — —	803,000 1,300,000 5,750,000
	9,050,000	—	(1,197,000)	7,853,000

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 41

Notes to the accounts Year to 30 September 2025

At 1 October 2023 £	New designations £	Utilised/ released £	At 30 September 2024 £
2,500,000 1,300,000 5,750,000	— — —	(500,000) — —	2,000,000 1,300,000 5,750,000
9,550,000	—	(500,000)	9,050,000

♦ Charitable donation fund

The charitable donation fund comprises assets set aside with the broad intention of using them to finance grants and donations to third parties both within the UK and overseas. This fund was set up with the unspent proceeds receivable from investment land which was sold in October 2014. The monies were invested to generate funds and are being applied as grants and donations.

♦ Gateway of Hope fund

The Trustees have set aside £1.3m to fund a project to provide housing for women in the criminal justice system. Part of the funds have been used to purchase a property which, following the granting of planning permission for change of use, may be used for this purpose.

♦ Sisters’ retirement fund

The Sisters’ retirement fund represents monies set aside to make provision for the support of the Religious in their retirement and to support their ministries. The value of the fund has been calculated using actuarial methods, to provide a modest sum towards the upkeep and care of the Sisters in years to come.

17 Restricted funds

The income funds of the Charity include restricted funds comprising the following unexpended balances of donations held on trusts to be applied for specific purposes.

	At 1 October 2024 £	Income £	Expenditure £	Transfers £	At 30 September 2025 £
Melbourne Project fund Greenstead Project fund Overseas Missions fund	66,574 21,326 12,157	8,083 — 10,900	(7,525) — (8,071)	— — —	67,132 21,326 14,986
	100,057	18,983	(15,596)	—	103,444

	At 1 October 2023 £	Income £	Expenditure _£ _	Transfers £	At 30 September 2024 £
Melbourne Project fund Greenstead Project fund Overseas Missions fund	55,990 37,714 2,811	18,123 — 9,346	(7,539) — —	— (16,388) —	66,574 21,326 12,157
	96,515	27,469	(7,539)	(16,388)	100,057

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 42

Notes to the accounts Year to 30 September 2025

The Melbourne Project fund and the Greenstead Project fund comprises monies received specifically for the support of community-led activities in Melbourne (Chelmsford) and Colchester respectively.

The Overseas Missions fund comprises monies received specifically for the support of the members of the Community and their missionary work in Africa.

Other restricted funds comprise monies received for several specific purposes.

18 Analysis of net assets between funds

Fund balances at 30 September are represented by:

	General fund £	Tangible fixed assets fund £	Designated funds £	Restricted funds £	Total 2025 £
Tangible fixed assets Investments Net current assets Total net assets	— 2,063,299 28,477	2,956,025 — —	911,622 6,941,378 —	— — 103,444	3,867,647 9,004,677 131,921
	2,091,776	2,956,025	7,853,000	103,444	13,004,245
	General fund £	Tangible fixed assets fund £	Designated funds £	Restricted funds £	Total 2024 £
Tangible fixed assets Investments Net current (liabilities) assets Total net assets	— 2,959,880 (13,943)	2,710,138 — —	911,622 8,138,378 —	— 100,057	3,621,760 11,098,258 86,114
	2,945,937	2,710,138	9,050,000	100,057	14,806,132

The total unrealised gains as at 30 September 2025, constituted movements on revaluation and were as follows:

and were as follows:
	2025 £	2024 £
Total unrealised gains included above: On listed investments On investment properties Reconciliation of movements in unrealised gains Total unrealised gains at 1 October 2024 On disposal of investments On transfer of investments Net gains (losses) arising on revaluation of listed investments in the year Net gains arising on revaluation of investment properties in the year Total unrealisedgains at 30 September 2025	885,571 1,060,742	1,303,942 1,060,742
	1,946,313	2,364,684
	2,364,684 (132,130) — (286,241) —	2,229,855 — (289,861) 424,690 —
	1,946,313	2,364,684

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 43

Notes to the accounts Year to 30 September 2025

20 Members of the CIO and limitation of liability

The members of the CIO are its trustees for the time being.

If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

21 Related party transactions

As members of the Community, certain of the Trustees have no resources of their own as all earnings, pensions and other income have been donated to the Charity under a Deed of Covenant. During the year, the total amount donated by the Trustees who were members of the Community to the Charity was £27,575 (2024 – £26,362).

Sister Moira O’Sullivan is also a Trustee of a Charitable Incorporated Organisation, Elijah’s Pot CIO incorporated on 6 September 2021 Charity Registration Number 1195718. Elijah’s Pot CIO is a grant-making charity that supports those that are disadvantaged, oppressed or discriminated against in the UK and elsewhere. During the year ended 30 September 2025 the Charity made a donation to Elijah’s Pot of £20,000 (2024 - £nil).

During the prior year, the husband of Mrs Sheila Alder, a trustee of the Charity, provided consultancy services to the Charity in return for fees totalling £5,280. In addition, he was reimbursed £270 for out-of-pocket expenses. Mrs Shelia Alder resigned as a trustee in year and no services were provided by her husband.

During the year the year travelling expenses of £416 were reimbursed to two trustees (2024 - £645).

There were no other related party transactions requiring disclosure (2024 – £nil).

The Charity of the Regular Canonesses of the Order of the Holy Sepulchre of Our Lord 44