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2025-12-31-accounts

THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

(Registered Charity Number 1171001)

TRUSTEES' REPORT AND ACCOUNTS 31 DECEMBER 2025

TRUSTEES Sister Paula Marie Spark
Sister Annette Lawrence
Sister Sheila Josephine Moloney
Mrs Hilary Gal
Mr Marc Stas
REGIONAL CO-ORDINATOR Sister Paula Marie Spark
REGIONAL BURSAR Sister Annette Lawrence
LAY BURSAR Mrs Julia Lau
PRINCIPAL ADDRESS The Convent
Daughters of Mary and Joseph
Layhams Road
West Wickham
Kent BR4 9QJ
GOVERNING INSTRUMENT CIO Foundation registered 5 January 2017
CHARITY REGISTRATION NO. 1171001
NAMED CORRESPONDENT Sister Annette Lawrence
The Convent
Daughters of Mary and Joseph
Layhams Road
West Wickham
Kent, BR4 9QJ
AUDITORS HaysMac LLP
10 Queen Street Place
London, EC4R 1AG
PRINCIPAL BANKER The Royal Bank of Scotland
P.O. Box 412
62/63 Threadneedle Street
London EC2R 8LA
SOLICITORS Stone King LLP
Upper Borough Court (UBC)
Upper Borough Walls
Bath
BA1 1RG
INVESTMENT MANAGER CCLA,
1 Angel Lane,
London, EC4R 3AB
Sarasin & Partners
50 George Street
London, W1U 7DY
INVESTMENT POWERS There are no limitations on the Charity's power of
investment.

THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

2025

The Trustees are pleased to present their report for year ended 31 December 2025.

INTRODUCTION

The Daughters of Mary and Joseph are Religious Sisters belonging to an international Roman Catholic Religious Congregation which was founded in Belgium in 1817. In 1869 the first foundation in England developed in Croydon, Surrey, and it was from this foundation that the English Province (now a Region) grew and, from which, Sisters were sent for further mission work to America, Africa and Ireland.

We commit ourselves to:

Over recent years these two Chapter statements have influenced the daily mission of the Sisters in the English Region as well as the Congregation as a whole. Where we have insufficient personnel to fulfil a role that we would wish to do, we give support in whatever way we can to other Charities who are engaged in that work.

OBJECTS

The objects of the CIO are:

PRINCIPAL ACTIVITIES

The CIO aims to support the religious and other charitable works performed by members of the Congregation. These works will fall into the following areas:

1. HEALTHCARE

It is wonderful that the sisters are able to be cared for in community as they age.

75 years of Religious life!)

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THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

2025

PRINCIPAL ACTIVITIES (continued)

2. EDUCATION

Coloma Convent Girls School, Croydon, founded by the DMJ in 1869. It has always provided a high standard of Education for girls between the ages of 11 and 18. In 2022, the school became part of the South East London Catholic Academies Trust and the Trusteeship was handed over to Southwark Diocese. The School buildings that were owned by the DMJ were gifted to the Diocese which in turn leased them to the Multi-academy Trust.

Coloma has a very good academic record and offers numerous opportunities for pupils to participate in competitive and recreational sport, musical and other non-academic activities. The School's ethos is centred on the Catholic Faith and the DMJ Charism and prepares young people for the challenge of adult life. The sisters continue to have links with the school through a sister who is a governor, visits and grant-making.

PUBLIC BENEFIT STATEMENT

The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the Charity.

ORGANISATION/POLICY

The constitution of the CIO states that there must be at least three trustees. At present there are five Trustees (see Page 2). The trustees are:

Sister Annette Lawrence Sister Sheila Josephine Moloney

and

two trustees, who are not members of the DMJ Congregation, also served in this role during 2025: Mrs Hilary Gal Mr Marc Stas

The Region is led by the Regional Coordinating Group with Sr. Paula Spark as the named leader. Members of the RCG are automatically, ex officio, trustees. The RCG has the power to appoint or remove trustees by means of a resolution. They also work closely with the English Region Finance Team, Lay Bursar and other Advisors. As the constitution stipulates, the majority of the trustees are drawn from the sisters of the Region and are, therefore, fully conversant with the operations of the Charity. The sisters have now been joined by two lay trustees to strengthen the expertise of the board. These lay trustees have become familiar with the charity and its workings and bring a new dimension to the board. The trustees also attend conferences and webinars to update themselves on the issues and legislation pertaining to the Charity.

All income earned by the Sisters, such as salaries, stipends and pensions, is paid into a Central Fund and a system of annual budgeting provides for each community of Sisters and those who live alone. Each community and individual renders their accounts to the central office.

KEY MANAGEMENT

The Trustees consider that the key management of the material assets of the Charity is undertaken by themselves and in particular the Regional Bursar (along with a lay bursar) to whom much of the running of the day-to-day running operation devolves. As religious sisters, under a vow of poverty, the Trustees do not receive remuneration. The lay trustees offer their services on a voluntary basis. The Trustees have adopted a policy of ensuring that all staff are paid at or above the London Living Wage.

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2025

REVIEW OF DEVELOPMENTS AND ACHIEVEMENTS DURING THE YEAR

General

Most of the Sisters referred to below work in a voluntary capacity. The DMJ have previously provided Coloma Court Care Home with three Sisters as Pastoral Care Assistants, but this is no longer possible due to the age and health of those concerned. Stipends for Sisters working in parishes range from nil to £5,000 per annum. There are occasional Stipends for talks or retreats given by some sisters.

One sister is a hospital chaplain at Croydon University Hospital, visiting patients and organising the work of the priests who visit. Sr. Sheila talks about her ministry here:

As part of the Vicars for Religious team for Southwark Diocese she also supports religious in the Diocese.

Some sisters work as parish sisters, taking part in catechesis, working with the clergy and supporting parishioners in many different ways. They take communion to the housebound, support families in need running RCIA courses for those wishing to join the Catholic Church.

Some sisters who are less mobile, still manage to support parishioners, Associates and other contacts by telephone and email. Others provide Spiritual accompaniment on zoom or in person. One has taken part as a director in online week retreats in daily life organised from the London Jesuit Centre. These have been an opening for people who would not normally be able to or want to attend in person. Some sisters have given talks to the local Ascent group (for Catholic over

(Sr. Annette Lawrence and participants in an icon workshop)

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THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

Education

-selective secondary schools in the

country for many years. Following the educational principles and ethos of the Congregation, the emphasis is not solely on the academic but on the development of the whole person where each one is encouraged to see that she can make a positive difference through love, commitment and service.

The school has now become part of the St Oscar Romero Catholic Academies Trust and been handed over to Southwark Diocese. Despite no longer being trustees of Coloma, the DMJ retain strong links. One of the Sisters continues to serve as a Governor. In order to maintain the ethos and provide spiritual support for both staff and pupils, the DMJ fund a chaplain for the school. The lay chaplain employed, is very much appreciated by all and has made a great contribution to the Catholic Life of the School. There are now annual retreats for most year groups, weekly masses and chaplaincy representatives from each class. She has also increased the links with the sisters and the knowledge of the st December each year, to which the sisters are invited. This is organised and attended by year 9.

One sister is invited to speak to Year 7 each year about the history of the school and the Chapel. Another sister speaks to Year 8 pupils about the spirituality and History of the Daughters of Mary and Joseph and their ministry today.

In extracurricular activities, some instruments, with the school holding concerts throughout the year. Coloma also offers the Combined Cadet Force as an extra-curricular activity, as well as Duke of Edinburgh Awards, along with many different clubs helping pupils gain skills such as teamwork, commitment and resilience.

Healthcare

The overall occupancy for 2025 in Coloma Court Care Home averaged 90% although it ended the year at 94%. Residents are well cared for and are encouraged to take part in various activities. They have organised their own Carol Service for the last few years, taking place in the Convent chapel.

Unfortunately, due to age and health there is no DMJ sister involved in chaplaincy at the moment but there is still a priest chaplain. Daily mass is celebrated, and he visits residents regularly. The links between Home and Convent have

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THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

strengthened over the last couple of years with new managers in Coloma Court, regular Joint consultative committee meetings between the HMT Executive and DMJ representatives and some sharing of resources such as the Chapel, the Convent Chaplain who covers

-hour care is provided for those who need it, and the sisters support each other in community life and prayer. A new audio-visual system was installed in 2024 in the main chapel and the smaller community chapel. This has improved the sound, making participation easier for the elderly sisters who are hard of hearing. It also enables them to watch the services from their bedrooms if necessary. It is a joy to be able to livestream events from the chapel so that sisters around the world, families and residents of Coloma Court can take part. We have also been able to have Regional meetings online or hybrid (Zoom and live) so that the sisters who live at a distance can take part even if they can no longer travel to West Wickham.

The sisters who live alone are aging. One sister who lived alone in Jarrow, has moved into the convent this year. It is foreseen that others will follow when necessary. Unfortunately, the ministry that DMJ sisters are able to actively take part in is becoming more limited. Grant-making is one way in which the DMJ contribute to the works that they would once have undertaken themselves.

GRANTS

Pilgrimage

A grant was agreed at the end of 2024 for £7,500 to help pay the costs for students to go on the HCPT pilgrimage to Lourdes at Easter, as helpers for the sick and disabled pilgrims. This was a regular event in the Coloma calendar, which is being revived post-covid, but the costs have risen. The students also raised funds to help cover the costs.

To quote the report received from the school:

For the first time post covid Coloma were able to travel to Lourdes as HCPT service group 703. This was supported by a generous grant from the Daughters of Mary and Joseph. Ten year 12s and two members of staff travelled to Lourdes for an experience which has had a lasting impact on everyone involved. Students were able to experience first-hand the value and impact of serving others as well as developing their interpersonal, leadership and teamwork skills. For many travelling it was also an opportunity to strengthen and reignite their relationship with God. After the success of last year s pilgrimage, we now have 25 keen students preparing for Easter 2026. The best way to summarise the impact is sharing the photos and quotes below:

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THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

the underground basilica particularly moving

I was able to learn more about my faith and it allowed me to be closer to God. I also enjoyed being able to meet new people who have similar beliefs to me and help group 14.

me think of it in a different light

I got to explore the catholic faith a lot deeper which helped me personally with what I believe in. I also learned that I am nothing without God and helping people is something I really enjoy

others, especially those with disabilities, pushed me out of my comfort zone in the best way. I discovered that I can stay calm under pressure and connect with people on a deeper level, even in challenging situations. It also showed me how fulfilling it is to give my time to help others.

The pilgrimage allowed me to be more open about my faith and be more confident in speaking to others.

I -in-a-lifetime experience that helps you grow both personally and emotionally. You get the chance to support others in meaningful ways, especially those who need it most, while also building s a perfect balance of giving back, self-discovery, and fun. You come back with a new perspective and a real sense of purpose.

A further grant of £10,000 has been agreed to support the 25 students and the staff accompanying them in 2026.

FINANCIAL REVIEW OF THE YEAR

Expenditure amounted to £2.08m (2024: £1.68m). The higher expenditure in 2025 was due to an upgrade of the lighting on the Wickham site to more eco-friendly LED and very high maintenance costs particularly on the heating and hot water. Provision has also been added for repair of a grade 1 listed wall and a large grant to the Africa Region of the DMJ. Therefore, the results for the year, before investments gains/losses, was a deficit of £350k (2024:(£243)).

Investment losses amounted to £771k (2024: £294k gains) and thus the overall decrease in funds over the year was £870k (2024: £51k gain). This includes a realised gain of £92k.

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THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

T 2025

RESERVES POLICY

At the end of the year the total reserves of the charity stood at £26.09m, of which £24.5m has been designated and £30k is restricted, leaving general reserves of just under £1.57m.

An actuarial review was carried out in 2025 to determine the capital funds now needed to provide for the care of the sisters. It took into account the number and ages of the sisters and their life expectancy as well as the cost of care in the Congregation s own facility or a care home. This indicated that a reserve of £14m was more appropriate than the £10m This will be reassessed in 2026 to take into account changes in the demographic of the Region and more dependable rent income with a new lease.

The Charity has a number of properties and other fixed assets which are used to fulfil its charitable objectives. These properties, although un investment in properties held to further the charitable work undertaken. At the end of 2025, the fund stood at £10.2m.

twelve and twentyThe expenditure for the last 12 months excluding grants was £1.75m. The current reserves stand at £1.9m (excluding grants) which is more than 12 months expenditure, therefore the Trustees are satisfied with this.

INVESTMENT POLICY AND PERFORMANCE

There are no restrictions on investments held.

To ease the administrative duties falling on fewer sisters and to still be sure of the ethical use of funds most of the investments of the Region are now held in the CCLA Catholic Fund. This matches closely with the values of the Charity. This fund is also disinvested from fossil fuels. In order to diversify the investments and dedicate some funds specifically to an environmental agenda, £1 million was moved from the CCLA fund at the beginning of 2025 and invested in the Sarasin Climate Active Endowment Fund. The Trustees and/or their representatives meet with the fund managers at least once a year in order to discuss the performance and ethics of the fund. They also attend online update meetings.

The investment strategy is to maximise total return within acceptable levels of risk while maintaining an ethical stance in line with the policy of the Charity. The investments generated a total return of (2.39)% (2024: 5.14%) This was well below the stated aims of CCLA (CPI plus 5% = 9.9%). Sarasin aims for CPI plus 4% and has similarly under performed. The returns ethical limitations of the funds. The income remained sufficient and consistent. The Trustees have discussed the poor performance with the icy and the volatility of the markets.

9

T 2025

THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

RISK MANAGEMENT

The Trustees have considered the major risks to which the Charity is exposed. Every effort is being made to mitigate those risks.

FUTURE PLANS

As the sisters are ageing and decreasing in numbers, plans need to be put in place to ensure the care of the sisters, the management and legacy of the Charity and the continuation of ministries by others where appropriate. Work on this has begun in line with the Strategic Plan of the Congregation. Goals have been put in place which include working with the new lay trustees as there are fewer sisters able to fulfil these roles, grant-making as a way to continue supporting ministries the sisters can no longer maintain themselves and supporting the wider international Congregation of the Daughters of Mary and Joseph in their work, particularly in Africa.

The trustees are also working on the future of Coloma Court, the land where the Emmaus Centre once stood and the rest of the West Wickham Site. It is hoped that we will be able to work with others to provide care and outreach that will benefit the local community.

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THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

T 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The

:

The

.

They are also responsible for identifying the major risks to which the Charity is exposed, reviewing those risks and establishing systems to mitigate them.

The accounts accompanying this report comply with current statutory requirements and the constitution of the CIO.

By Order of the Trustees

Sr. Annette Lawrence

Date:

11

JOSEPH CIO

YEAR ENDED 31 DECEMBER 2025

We have audited the financial statements of The English Region of the Daughters of Mary and Joseph CIO for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. 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 financial statements

Basis for opinion

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. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further ies for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial nd 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 a in the preparation of the financial statements is appropriate.

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

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

12

INDEPENDENT A JOSEPH CIO (continued)

YEAR ENDED 31 DECEMBER 2025

Matters on which we are required to report by exception

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

Responsibilities of trustees for the financial statements

page 11 the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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.

tements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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:

Based on our understanding of the charity and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to compliance with employment law and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011 and Charities SORP.

ncentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to depreciation charges. Audit procedures performed by the engagement team included:

13

JOSEPH CIO (continued)

YEAR ENDED 31 DECEMBER 2025

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Use of our report

and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any trustees as a body for our audit work, for this report, or for the opinions we have formed.

HaysMac LLP Statutory Auditors 10 Queen Street Place London EC4R 1AG

Date:

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

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THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2025

Notes
Income from
Donations and legacies
1
Investments
2
Charitable trading activities
3
Other
- Surplus on disposal of tangible fixed assets
Total Income
Expenditure on
Charitable activities
Support of members of the Congregation and their ministry
4
Donations
5
Total expenditure
Net expenditure before gains/(losses) on investments
Other recognised gains and losses
Net gains/(losses) on investments
Net movement in funds for the year
Fund balances brought forward at 1 January 2025
Fund balances carried forward at 31 December 2025		 Total
2025
£
403,691
489,372
742,824
15,170
1,651,057
1,745,111
336,308
2,081,419
(430,362)
(770,537)
(1,200,899)
27,290,834
26,089,935		 Total
2024
£
395,993
494,263
543,548
-
1,433,804
1,515,595
160,989
1,676,584
(242,780)
294,133
51,353
27,239,481
27,290,834

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 18-26 form part of these financial statements.

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THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

BALANCE SHEET

AS AT 31 DECEMBER 2025
Notes
TANGIBLE FIXED ASSETS
10
INVESTMENTS
11
CURRENT ASSETS
Debtors
12
Cash at bank
CREDITORS: Amounts falling due within one year
13
NET CURRENT ASSETS
NET ASSETS
Represented by:
ACCUMULATED FUNDS
Unrestricted funds:
Designated funds
General funds
Restricted funds		 2025
£
10,241,493
14,855,299
25,096,792
623,510
1,072,414
1,695,924
(702,781)
993,143
26,089,935
24,491,493
1,568,442
30,000
26,089,935		 2024
£
10,745,201
15,625,837
26,371,038
502,657
728,692
1,231,349
(311,553)
919,796
27,290,834
24,745,201
2,545,633
-
27,290,834

The notes on pages 18-26 form part of these financial statements.

Approved by the Trustees and signed on their behalf bySr. Annette Lawrence

Date:

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THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

Cash inflow from Operating Activities
Net cash used in operating activities
A
Cash inflow/(outflow) from investing activities
Dividends and interest from investments
Receipts from sales of fixed assets
Payments to acquire investments
Receipts from sales of investments
Net cash provided by investing activities
Cash inflow from financing activities
Change in cash and cash equivalents in year
Cash and cash equivalents at 1 January 2025
B
Cash and cash equivalents at 31 December 2025
B
Notes to the Cash Flow Statement
A. Reconciliation of net movement in funds to net cash flow from operating
activities
Net movement in funds (as per the Statement of Financial
Activities)
Adjustments for
(Gains)/losses on investments
Surplus on disposal of fixed assets
Dividends and interest from investments
Depreciation
Increase in debtors
Increase / (Decrease) in creditors
Net cash used in operating activities
B. Analysis of cash and cash equivalents
Cash at bank and in hand		 2025
£
(395,821)
489,372
250,171
(1,000,000)
1,000,000
739,543
313,722
758,692
1,072,414
2025
£
(1,200,899)
770,537
(15,170)
(489,372)
268,708
(120,853)
391,228
(395,821)
1,072,414		 2024
£
(603,989)
494,263
-
-
-
494,263
(109,726)
838,418
758,692
2024
£
51,353
(294,133)
-
(494,263)
269,458
(123,145)
(13,259)
(603,989)
728,692

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THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

FOR THE YEAR ENDED 31 DECEMBER 2025

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

The financial

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 economic useful life of tangible fixed assets.

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 no less than one year from the date of approval of these accounts.

The trustees have drawn up a cash flow forecast to July 2026 and attempted to assess the risks involved, (See Risk Assessment on page 10). Assurances of ongoing income from investments have been given by the investment managers. The charity also has a strong balance sheet with large investment and cash balances. Whilst there will undoubtedly be challenges ahead, the trustees do not expect m

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

Critical estimates and judgements

The most significant areas of judgement that affect items in the accounts are detailed above. With regard to the next accounting period, the year ending 31 December 2026, the most significant areas that affect the carrying value of the assets held by the Charity are the level of investment return and the performance of the investment markets (see the

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of Charity. Designated funds are unrestricted funds of the Charity which the Trustees have decided at their discretion to set aside to use for a specific purpose. For 2026, £250k has been designated for Grants to DMJ Africa to build a house for Postulants and for elderly sisters. The trustees have been made aware of a legacy with a particular bequest from the donor. It is hoped work on this will begin in 2026. This is accrued for as a Restricted Fund. It has not yet been received but will likely be spent on the

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THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

FOR THE YEAR ENDED 31 DECEMBER 2025

Income recognition

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

For legacies, 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(s) to the Trust 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,

make a distribution. Where legacies have been notified to the Charity or the Charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

s are received under deeds of covenant and are stated free of income tax as the amounts were donated by the sisters to a registered charity. They are however net of deductions for social security payments and contributions to occupational pension schemes.

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

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition and irrecoverable VAT

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

Charitable grants and donations are made where the Trustees consider there is real need following a review of the details of each particular case and comprise single year payments rather than multi-year grants. Grants and donations are included in the statement of financial activities when approved for payment. Provision is made for grants and donations approved but unpaid at the period end.

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

Allocation of 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.

Pension scheme

Contributions are made to a defined contribution pension scheme for staff. The contributions are charged to the Statement of Financial Activities when they become payable.

19

THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

FOR THE YEAR ENDED 31 DECEMBER 2025

Tangible fixed assets

Individual fixed assets costing £5,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight-line basis as follows:

Annual rate
Freehold land Nil
Freehold buildings 2%
Fixtures and fittings 25%
Motor vehicles 25%

Financial Instruments

The charity will only hold financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Quoted investments are a form of basic financial instrument and are initially recognised at cost and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Gains or losses on investments are disclosed in the statement of financial activities as a combined figure for realised gains or losses from investment sales in the year (sale proceeds less market value last year) and unrealised gains or losses arising from the increase/decrease in value during the year of investments still held.

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

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

Creditors and provisions

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

Services provided by members of the Congregation

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the net movement in funds.

General Information

The English Region of the Daughters of Mary and Joseph CIO is a charitable incorporated organisation in England and Wales, with the charity registration number 1171001. The registered office is The Convent, Daughters of Mary and Joseph, Layhams Road, West Wickham, Kent, BR4 9QJ. The principal objectives of the charity are set out on page 3 of the Trustees Report.

20

THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1
DONATIONS AND LEGACIES
Stipends and pensions
Legacies
Other donations
2
INVESTMENT INCOME
Income from quoted investments
Bank Interest
3
INCOME FROM CHARITABLE TRADING ACTIVITIES
Rent from Care Home
Share of Care Home surplus		 2025
£
367,966
30,000
5,725
403,691
2025
£
460,003
29,369
489,372
2025
£
298,332
444,492
742,824		 2024
£
373,509
17,352
5,132
395,993
2024
£
459,336
34,927
494,263
2024
£
298,332
245,216
543,548

21

THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

4
SUPPORT OF MEMBERS OF THE CONGREGATION AND THEIR MINISTRY
General Support of sisters and their ministry
Medical & Care costs
Premises and equipment
Meetings
Depreciation
Support Costs
Governance costs
Support Costs
Bank charges
Salaries
Agency staff
Telephone
Administration
5
DONATIONS
Grants
General alms and donations
6
NET MOVEMENT IN FUNDS
This is stated after charging:
Staff costs (note 7)
Auditor's remuneration (including VAT)
- Statutory audit services
Depreciation		 2025
£
344,668
55,773
397,056
116
268,708
656,866
21,924
1,745,111
600
620,369
27,013
3,872
5,012
656,866		 2024
£
356,936
70,584
162,604
338
269,459
637,674
18,000
1,515,595
600
578,471
48,935
4,437
5,231
637,674
2025
£
305,890
30,418
336,308		 2024
£
133,829
27,160
160,989
2025
£
647,382
21,924
268,708		 2024
£
627,406
18,000
269,459

22

THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

7
STAFF COSTS AND REMUNERATION OF KEY PERSONNEL
Wages & salaries
Social security costs
Pensions
Agency staff
The average number of employees in the year was:
The number of employees whose emoluments exceeded
£60,000 were:		 2025
£
551,708
52,465
16,196
27,013
647,382
19
Nil		 2024
£
519,839
43,032
15,600
48,935
627,406
20
Nil

One member of staff was made redundant in 2025, the cost of this was £9,272.

The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis solely comprises the trustees. The total remuneration of (including taxable benefits but excluding employer's pension contributions) of the key management Nil Nil personnel was

8 TRUSTEES' EXPENSES & REMUNERATION AND TRANSACTIONS WITH TRUSTEES & RELATED PARTIES

The trustees of the Charity are also members of the Congregation and as such have taken vows of poverty under which they have renounced all personal rights to income and capital. The Charity provides for the essential needs of all members of the Congregation within the Region.

Two of the Trustees of the charity are also Trustees of the Daughters of Mary and Joseph Congregation Fund CIO. In 2025 donations of £9k were given to this charity. In 2024 an additional £5.6K was refunded to this charity for international Meetings.

The two Lay Trustees do not receive any remuneration (2024: £Nil) and there have been no other related party transactions (2024: £Nil).

There are no balances outstanding with any related parties, at the Balance sheet date (2024: £Nil).

9 TAXATION

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

23

THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

10
TANGIBLE FIXED ASSETS
COST OR VALUATION
At 1 January 2025
Disposals
At 31 December 2025
DEPRECIATION
At 1 January 2025
Charge for year
Disposals
At 31 December 2025
NET BOOK VALUE
At 31 December 2025
At 31 December 2024		 Freehold
Fixtures &
Land
Motor
Office
and Buildings
Vehicles
Equipment
Total
£
£
£
£
14,251,145
126,716
117,392
14,495,253
(250,000)
(16,145)
-
(266,145)
14,001,145
110,571
117,392
14,229,108
3,549,860
97,484
102,708
3,750,052
242,323
19,042
7,343
268,708
(15,000)
(16,145)
-
(31,145)
3,777,183
100,381
110,051
3,987,615
10,223,962
10,190
7,341
10,241,493
10,701,285
29,232
14,684
10,745,201

Apart from a small proportion used for management and administrative purposes, all the above assets are used in

INVESTMENTS 2025 2024
£ £
Value: 15,625,837 15,331,704
At 1 January 2025
Additions 1,000,000 -
Realised
Proceeds gains/(losses)
Disposals (1,000,000) 92,225 (907,775) -
Revaluation for the year (862,763) 294,133
At 31 December 2025 14,855,299 15,625,837
Cost at year end 14,036,563 13,944,338
At the year end quoted investments
comprised:
CCLA Catholic Charities Fund 13,855,725 15,625,837
Sarasin Climate Active Endowment Fund 999,574 -
Total 14,855,299 15,625,837

11 INVESTMENTS

24

THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

12
DEBTORS
Prepayments
Other debtors
13
CREDITORS:
amounts falling
due within one
year
Accruals and
deferred income
Taxation & Social
Security
Other creditors
14
DESIGNATED
FUNDS
Movement in the
year
Retirement
Fixed Assets
Grants to Africa
Likely in 2026		 Balance At 1
January 2025
Net Income /
Expenditure
£
£
14,000,000
-
10,745,201
(268,708)
-
250,000		 2025
2024
£
£
48,797
65,323
574,713
437,334
623,510
502,657
2025
2024
£
£
541,916
153,088
13,542
11,142
147,323
147,323
702,781
311,553
Transfers
Balance At 31
December
2025
£
£
-
14,000,000
(235,000)
10,241,493
-
250,000
24,745,201
(18,708)		 (235,000)
24,491,493

25

THE ENGLISH REGION OF THE DAUGHTERS OF MARY AND JOSEPH CIO

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

15
ANALYSIS OF NET ASSETS
BETWEEN FUNDS
Designated Funds -
Retirement
Fixed Assets
Grant to Africa
Unrestricted funds
Restricted funds - legacy		 Tangible
Net current
Fixed assets
Investments
Assets
Total
£
£
£
£
-
-
14,000,000
14,000,000
10,241,493
-
-
10,241,493
-
-
250,000
250,000
10,241,493
-
14,250,000
24,491,493
-
14,855,299
(13,286,857)
1,568,442
-
-
30,000
30,000
10,241,493
14,855,299
993,143
26,089,935

16 CONTINGENT ASSET --- ESCROW ACCOUNT

As part of the agreement with the tenant of the Coloma Court Care Home, an Escrow Account has been set up to cover the cost of works of maintenance, repair and replacement for the roof as a result of water ingress. The parties each undertake to hold the sums retained in the account on trust. A sum, to be determined by reference to the surplus generated by the Home, but not exceeding £140,000 will deposited into the account each year. It was anticipated that the sum held in the account would be entirely utilised in making good the roof, but any excess will be shared equally between the charity and the tenant.

Work has now been carried out to repair rather than replace the roof. Once bills are finalised the remaining funds will be divided between the parties, the balance on the account stood at £772,952.

26