Chty [cstratIon number 1173507 The English Mission of the Sisters of SL Louis CIO Report and Accounts 31 March 2022
The English Mission of the Sisters of St. Louis CIO Report and accounts Contents Page Legal and administra(ive infornmtion TnL%iee.%' repon Independeni auth.iors report 14 Stdtemeni of finCIal acuyiue 16 Balance bheei 17 Statement of cash flow% 18 Notes io ihe accountb. 19
ENGLISH MISSION OF THE SISTERS OF ST LOUIS CIO TRUSTEES. REPORT Report and accounts for the period 01 April 2021 to 31 March 2022 Legal and Administrative Information INSTITUTE LEADER Sister Patricia Ojo MISSION LEADER Sister Blanaid Mccauley TRUSTEES Sister Mary Moran Sister Philomerba Morris Sister Margaret Healy Sister Josephine Apiagyei fApr- Decj Sister Augustina Agyirey-Kwakye (Jan- Morj MISSION TREASURER Sister Mary Moran MISSION ADDRESS 16 Chaucer Close New Southgate London NWII IAU CIO NUMBER 1173507 AUDITORS Borucki & Co. 42 Radnor Road Harrow HAI IRZ INVESTMENT MANAGERS Charles Stanley & Co. Ltd. 25 Luke Street London EC4A 4AR Brewin Dolphin Ltd. 12 Smithfield Street London ECIA 9BD BANKERS Barclavs Bank 58 High stet Newmarket Suffolk CB8 8NH SOLICITORS Stone King Boundary House 91 Charter House Street London ECIM 6HR
ENGLISH MISSION OF THE SISTERS OF ST LOUIS CIO TRUSTEES. REPORT INTRODUCTION The Institute of the Sisters of St Louis is a congregation of Roman Catholic Religious Sisters. It was founded in France in 1842, but the Institute Leadership or Central Leadership Team {CLT) now resides in Ireland. The Institute is international in its membership, organisation and vision, with members in nine different countries. The charity is entitled Englisli Mission of ihe Sislers of St Louis CIO, having been registered with the Charity Commission as a Charitable Incorporated Organisation No. 1173507 on l July 2018. The Governing Document of the Charity is a constitution which stales that, The objec"i OJ. Ilie CIO is sucli Lliaritable yurposes wliich advance the religioii.f and oilier chariiiible ii'orkfor the tiiiie beiiig carried oil bi. or uiider the direciion of the Institute as the Trustees w'ith ihe approval of the Instilute Leader.shallfrom liine to time think fit. The (Iccounls aCcomp(y1g this report ihe (Iccounts of the CJO on which the (set5 of ihe Institute in Engl<ind iire held. OBJECTIVES AND ACTtVlTIES The Institute of the Sisler% of St Louis expTe5ses ils objective (i furthering of the vision, ITeasured and pursued by ils founders, of fi Tri'orld healed. Miiified aiid irfipi.fformed l?I' tlie .faving ilyi.fdom of ChriJtianits. The English Mission of the Sisiers of Si Louis CIO aims lo support the religious and charitable works carried out by its members in pursuii of Ihis vision and to care for its members throughout their lives. CARING FOR MEMBERS The English Mi.s%ion an obligaiion, boih legal and mornl, 10 provide for all itg member.8, none of whom have resources of their own and all of whom have committed a significant part of their lives 10 education, healthcare and other chariiable works, here in Enoland and abroad. A Health Care Plan is in place to ensure thal necessary and iimely provision is made for sick and elderly sisters. In practice. because of the members. age profile. a part-time Health Care Manager is employed to enable members manage their health needs and. when necessary, help them plan the nexl stage of care. Age PrOre 70-74 75-79 80-84 85-89 90-94 Number The aims of the trustees in earing for sisters are: Making Sure there are adequate re50UTces for healihcare provision. Enabling members remain in ministry as long as is reasonable: Evaluating care and lacililies to ¢n%ure m¢mbeTs recei¢ care ,8uil¢d to their needs. By caring for individual members during their litespan with the Institute. the charity aims to enable and support individual sisters lo live out their faith, and to put that faith into practice in a wide variety of ministries. When planning the work of the charity for the year. and when encouraging Ihe work of individual si51er5, the ITuslee5 have (rji'en CJTeful consideration to the Ch(wily Commi8gion'% guidance on public benefil.
ENGLISH MISSION OF THE SISTERS OF ST LOUIS CIO TRUSTEES. REPORT RELIGIOUS AND CHAIUTABLE ACTIvrrILs The work (Ind ministries of the sistepa Teflect the Vdlues of the Jn5titute'5 Mi55ion StateTnent, its recent Chapter DuLuTnents and Policies. They fall broadly into the followiv]g areas- Praycr Spiritual Developvnenl" Educaiion. Justice. Peace and Integrily of Creaiion: Overseas Involvement. Governance Prayer and Spiritual Development The commitment of th¢ sist¢is 10 Gixl, the Church and the Instiluie. requires them to undertake on-going fomiaiion and the (ransforniaiion of Iheir lives Ihrouoh prayer. worship and study; and 10 find ways of meeting ihe spiritual hunger of the 'ider public, through parish and other organisations. Sisters increase their understanding of and relationship with God through prayer. courses Ind relreats. Members share their experience, values and go%pel vi%ion through writing, attendinglleading prayer and study groups: and reach out lo oiher denominations, faiths and ideologies in respectful dialogue. Many sisters visit or befriend their sick. elderly and reaVed neighbours. Formal and Infornial Education The members ¢we eng¢iged in (i v¢ietY of infomial educaiional activities including- Serving on church commiilees and chariiy board.s ai parish, di(Kesan level and European level; Working with parish teams. training or acting as Lay Ministers of the Word and the Eucharist; leading and participating in parish and other study groups. Providing support for ESOL learneT5" Participating in inlerfaiih iT]ler-church evenlS- Keeping <innals- Tn¢iintaining ATchives. Justice, Peace and Integrity of Creation (JPIC): For some members this is the main focus of their chariiable work: while others seek to promote JPIC through all their ministries. Members engage in a variery of services: Befriending (ind 5UPPOrting refu(vee5 (d nii(rr4int dovnestic workers of all n4ltion<ilities- Campaigning wilh Harrow and London CiLizens lor fair wages and affordable housing. Bridge- building with people of oiher faiths and ideologies; Involvement at different levels wilh esiablished groups/charilies, such as, JPIC Links, National Justice & Peace Committee. Chrisiian Council for Approaches to Detence and Disarniamenl. Campaigning, emailing. protesting for promotion of human, animal and planetary rights. The 5i.51er5 are more ¢IrefUl ihan eN'er lo sal'e energy, not to W<te W<iter and to recycle goods and maierials where w.%%ible.
ENGLISH MISSION OF THE SISTERS OF ST LOUIS CIO TRUSTEES. REPORT Overseas Involvement The ch(Irity supports projeLtS Tun by the Inslitule of the Sistepa of Si Louis IT] Br<uiI, the Republic of Benin, Ethiopia, Ghana 4ind Niueria through prayer av]d fIn(claI (lid. A Tnodv'st fund 18 sei ld¢ nUallY for dondlic)n4 10 svndll enterpti%c¥ that reflcct the values of Ihe St Louis Mission Sialemeni; or (o global charilies for humanitarian purposes when major disasters occur. The charity has made an investment with Oikocredii. a cooperative society that offers loans to small enterprises with real potential for broad social impact. The Tnembers offer support and hospitality to sisters who cume to Englav]d from the above- namcd countrics for inlctn<ilional tncclintss and courseb of tstudy. The aims of the trustees in the above areas of ministry include: Enabling sisters to avail of the necessary traiiiing and on-going formation for their personal and 8Pirituai developmeni and for Iheii chatiiable work- Encouraging and motivating sisters to become agents of change as they seek to transforni unjust structures and to promote reconciliation; Encouraging leadership styles Ihal enhance collaboraiion, consensus-building, networking and team-building. Helping sigiers develop the necessary skills io enable ihem io access up-to-date inforniation on current affairs and JPIC issues: Ensuring, where appropriale, Ihat members are adequately remunerated for their work and Ihai such income is donated to the chariiy for ils fuiure developmen(. Sharing of resources in a spirit of mutuality. REVIEW AND ACHIEVEMENTS Review of Activities 01 April 2021 to March 2022 The trustees consider that, the main objeclives of the charity have been met by the sisters and that much good work has been carried oui for the benefit of the general public. The trustees acknowledge that prayer plays a large part in the lives of the sisters and underpins their charitable works. The sisters continue to intonn and educate themseli'es and endeavour to bring their wisdom and experience to a wide variety of actii'ities: many of which have been carried out by Zoom. a consciousness of justice, [ace and the integrily of creation permeates what they do in their efforts to build up right relationships in church and society. Parish iv]volvement. advocacy and concern for ihe poor and needy ofien make demands 'ell beyond the call of duty. The truslees (e satisfied that the objectives of Ihe chty'S missioT] haN'e been Caled out. Many notable achievements ¥ire highlighied below. SPIRITUAL GROWTH As a way of marking the sisters, Ive-Taking of Newmarket. all eleven gathered at the Old Stable House Centre on 13 July 2021 and held a special prayer service to mark the occasion. Modelled on a pilgrim journey, the sisters visited cherished places on the site, told their
ENGLISH MISSION OF THE SISTERS OF ST LOUIS CIO TRUSTEES. REPORT stories and, in prayer and song, gave thanks for what was life-giving, soughi God's healing for what was painful and put iheir trust in God's providence for what lay ahead. EDUCA TIONIGENERAL PARISH In prepararion for ihe General Synod in Rome in 2023 on Ihe Church's place in the world, the English Mission participated in Si. Louis inlernational gaiherings on Zoom; most sisters were also engaged in their own parishes. not least Carnlel Solon SSL. At the request of her Parish Priest in Ipswich, she and other parish representatives met with the Bishop of East Anglia in NOlCh Cathedral for M4lSS 4ind to receive 4in outline of ihe consult<itTve proce55. Then, the parish journoyed iogeihcr in PTayer didlotrue to see what stcp¥ ihc Holy SpiTiI was inviting thoin to lake, so as to belter proclaim the Gospel. Cannel aciively encouraged parishioners to engage, helped distribute questions to be answered in wriiien fonn and facililaied meetings. Finally. she was involved in collating the responses of ihe parish which were then forwarded to the diocesan offLCe. JPICIPASTORAL WORK Nvhen monks from Worth Abbey set up their urban mon&siic community in Brighton during Ihe pandemic. Blanaid MeCauAey SSL joined the small suppon group of religious engaging in their wider ECO project. They mel on zoom for prayer and decision-making. Blanaid undertook to be
ENGLISH MISSION OF THE SISTERS OF ST LOUIS CIO TRUSTEES. REPORT a litter-picker in her area. and later, when they were able to meet face-to-face, she hosted a Morning lo m(Irk the beginning of Creation Week 2021. Roisin Hannaway SSL has been involved in community organising with Harrow Citizens Housing Aclion Group, which has the backing of HaTTOW Council and the cooperalion of the Salvation Army for the setting up of supported livinu accomTnodatTov] in Tnodular units for eight inglc hotnLILss people. Thc Tnu¢h-neLdcd site lor this M¥il¥iLhi projeci is (iboui io be PTOCUTed. The numerous photos in the album of Nlargaret Healy SSL display the variety of her ministries: campaigning with London Citizens and UNrrE tor Ihe tA)ndon Living Wage: support tor the Chinese Centre: preparing take-away meals tor ihe needy" and celebrating with the Muslim comn]unity. Q5PI",ILIIY WORKltIS IOT 41
ENGLISH MISSION OF THE SISTERS OF ST LOUIS CIO TRUSTEES. REPORT GOVERNANCE Conimunity t£ader, Blanaid MLCiiuley SSL, atlended the General Chapter 2021 IT] Gh41, as a delegate of the English Mission. She latei organised a Chapter Feedback Day. faciliiaied by herself and Josephine Apiagyei SSL. inviting the sisiers io continue lo live out the charism, Sint Unllm, and so, bring about ihe founder s vision of (J )troi"Id heuled. unified und Iruns]ormed. The direction will be focussed by the setting up of Institute Commissions on Strategic Planning. Climaie Justice, and Finance & Investments; and Instiiute Committees for Forniation. Spirituality & Heritage and Con]rnunications. The trusiees, with the guidance ofDame Amanda Francis of Buzzacot('s, carried ou( their plan for the disposal of some unwanied property and the wise use of pdirimony in accordance with the Mission Siatement and relevant Insiilule documenis. In April 2021, 10 facilitate ihe movement of St Louis Primary School, Aylesbury, to Academy st(itUb, the Trustees donated the land on which the sch(K)l is built, namely, the freehold, lo the Diocese of Northalnpton. In Juneljuly 2021, following consultation between Ihe leadership teams and Ihe various Archivists involved. the English Archives were transferred from Newmarket to Dublin. lo be incorporated into the CLT Archives for which Ihe Institute Archivis( is responsible. The English Archivist, Mary Jo McKeefry SSL. may be called upon to assisi in matters relating lo the English Community if Tequired. The charily rented two houses on the Newmarkei esiaie beiween April 2021 and mid-February 2022. While thc proceLd8 helpLd finllnce Ihe care of the sist¢rs, T¢nting wi$ 4een as a public benefii in view of the shortage of housing in Ihe area. The house and garden in Red L(Mlge, Suffolk, was sold in September 2021. The property and grounds on Fordham Road, Newmarket. were sold on 14 February 2022. In view of th¢ faci thai the sisters in the English Mi&sion will be retllrning to Ireland over the nexi 2 - 3 years, the Trusiees decided thai the Enolish Mission would finance the living costs ot these sisters tor the rest ot their lii'es. Meetin(trs of Ihe Trusiees and the Community t£ader with the Irish Leadership Team are currently taking place to finalise the details of the financial arrangement at a praclical level. In AprillM4iy 2021, £200k was don4lted io ihe Irish Region towards the capital costs of building age-friendly accommodaiion ai No.$. 7 and 8, Giosi'enor Road, Dublin; and toward8 the completion of isolaiion rooms in Monaghan needed during the Covid-19 pandemic. In March 2022. £ look from ihe pnxeeds of the sale of ihe Newmarket eslale was gifted to St. Louis Academyg NeMTharket, for the purpose of enhancing the educational needs of the pupils, most particularly children with specific social. psychological and mental health issues and probleTns, including the need5 of mi.(TrJnl and refuuee children admilled to the school. The donaiion w&8 depo.8iled lor Ihe %ch(N)I's Sole use and benefil inio a Reserve Accouni of the Finance Account of the Diocese of Ea%i Anolia. The Head Teacher will provide a record of how this coniribution will be spent.
ENGLISH MISSION OF THE SISTERS OF ST LOUIS CIO TRUSTEES. REPORT Permission has been obtained from the Central Leadership Teatn to donate the proceeds of the sale of the property in South Harrow. wheT] it Lomeb lo sold, to rfi nuvnber of sniall ch<Wities catering for the needs of refugee and miurant people. Smaller donations were made around Christmas lime 10 Crisis. Sulvution Armi., Medecins Jan5 Frontieres {MSFJ and Cufod; and more recently, 10 Ihe Si. IA)uis Leprosi. Centre, Nigeria; and to MSF and Cafod for the humanitarian needs of the Ukrainian people. OVERSEAS A portion of the rental income of the English Mi55ion is donaied thiough ihe CLT io the Si. Louis Mission in the Tigray area of Ethiopia: this pays the salaries of the non-national sisters from Nigeria and Ghana who work there. In a leiier of 20 March 2022. Perpelua Apo SSL acknowledges their gratitude and describes the siruaiion on Iheir return to Dawhan in April 2021. 'We spent ihe nexi fe, weeks visiiiiig faiiiilies pariiciilarli those ihai losi tlieir niembers, supporting those Trfv,hose properties were looled, encouragiiig ihose frawn47tisedfrom the effects of the war, and donaling some personal cloihing nialerial io Interi[1}, Displaced Persons at the Regional City. Gathering diiring the ne_rtfeiv. moiiths of ani. kil it'as prohibited esiieciall}? wilh the .foldier.f .¥till pre.sent.' Meanwhile iheir Bank Accouni w&$ blocked and they had to depend for a lime on the charity of others. From Augusi. Iwo of Ihe sisters remained in Dawhan where they organised English language classes. choir praciices and prayer meetings: and assisted with a Youth project which served io clean up the area after the conflict and to act as a healing process for those traumatised. Sr Perpetua herself i5 in Addis Ababa on a langu(ige course, living with ome Holy ROsrf Sisters in a converted container- she helps with the Inler Religiou5 ForniJtion ProLTrram and volunieers ai Ihe mission{ of Charily Si.sier8 Centre, feeding 1hn.fe dving, cutting thefinger ncii13 of the psl'chicitricpalienlj. gii'e lalks topregpiapit teep7age girl5 . it tulk with those abandoned bi'families. VOLUNTEERING Throu<Fhout the year the sisters uive time and eT]eT(
y lo carrying out the chaTity'5 objective5 on a volunt41ry bi15i5 for the benefit of ihe public. Sotne memben% in their govern4iT]ce role5 4ire ini'olved in <idministering the work of the chrfwily, which would otherwise not be able lo function as effectively as li doe5. Considerdblc timc been ¥penl in thc C{c of ihe sick enfccbled, in listening 10 those in need and in gencTal paTi%h actii'ities- substantial ¢ffort hls been invested in the public arena Ihrough the variety of ortranjsaiions in which ihe sisters are engaged, while large contribuiions have been made to global humaniiarian aid. The hours of voluntary work involved consiiiuie direct benefil to the general public. GOVERNANCE, STRUCTURE AND MANAGEMENT The In.81iiuie began its work in England in 1912. Currenily Sisters are engaged in a variety of minisiries in different parts of England, chiefly, Ihe Briohion area. Eas( Anglia and Greater tA)ndon. The work of the Insiiluie in Enoland is uliimaiely (he respon8ibilily of the Central t£adership Team (CLT) in Dublin. The Entslish Mission is a Community of (he Insliiule linked with CLT and has autonomy in n]nninLY jis day-10-day affairs. This annual report with its accompanying accounts refers to the English Mission of ihe Sisters of St. Louis, registered as a Charitable Incorporated Organisalion with the Chariiy Commission. Trustees are appointed by the Central t£adership Team (CLT) for a specified period of time. The current trustees consist of three members of the English Mission, one of whom is its Treasurer.
ENGLISH MISSION OF THE SISTERS OF ST LOUIS CIO TRUSTEES. REPORT the fourth tstee is a member of CLT and the Liaison Person with the English Mission. All trustees, being men]bers of the Instilute, are conversanl '1th the life and mission of the Instilute. with the ministries and work of the Ev](Flish Mission and the overall issues that it faces. members of the Instilute their living (d personiil costs are IM)rne by the Ch(ltY but they receive no remuner(Ilion for their 5ervice5 as ITUStees. Their training its OT]going through Te4iding, consult<ition rflttend<ce rflt trdining evenls, incre(Lsingly by ZOOTn (d Webin(. The iT]formiltioT] and expertise gained is sh<ed with the LeiideT the sisters. when ¥ippfopri¥ite, so th4il 4111 aWe of their ILg<il obligations. The trustees are ultimately responsible for the w)licies, activities and assets of the charity. Besides being in contact by telephone and email. Ihey meei regularly now by zoom, to review developmenis with regard lo the chariiy and ils aciivilies and 10 make decisions. Minutes are taken ai all meeiings and a copy is seni to the Central t£adership Team and (o the Community Leader. When necessary, the trnsiees seek advice and suppon from Ihe Central Leadership Team, as well as from the charity's professional advisers including accounianis. inveslmeni managers, property consultants. solicitors. insurance brokers and aciuaries. PROFILES AND RESPONSIBILITIES OF THE TRUSTEES MarTr' Moran SSL: Treasurer Mary has lived as a Sister of St. Louis for ovei 60 yea. She has been committed to education in various ways, as a teacher of Mathematics and Religion for thirteen years in St. Louis Grammar School, Kilkeel, Northern Ireland, and as Head Teacher of the san]e school for a further eight years. After retiren]eni frovn school. she trained as a psychodynamic couv]sellor and worked in priv4lte practice as a counsellor and supervisor. For sotne year5 She undertook voluntary WOTk with the poor Tnember of ihe H4wr()w br1ch of Si. Vincent de Paul Society, of which she W4lS Irea%urer. She W4lS 41 meTnber of Ihe Enulish LeadeT5hip Teavn for twelve yeaTS ilT]d has been TreasureT of ihe ch<Wity for a numbeT of ye<WS. She h¥LS partiCiP¥ited in TTUStee TrainiT]g COUTses and attended ihe Provincial Burs, Conference annually. Philomena Morris SSL Philomena Morris was professed as a Sister of St Louis in 1961. Alter Oblning her BA degree, she taught in England lor two years. From 1967 10 1983 she WOTked in an A level secondary school run by Ihe Si8ierg of St Louis in Kum&8i, Ghana, where she head of Ihe English Department. During Iha( lime, .8he also became part-lime chaplain 10 Ihe Youno Chri8lian Siudeni Movement. This involved the rai.sing of funds, as well as Ihe oroanising and planning of the fir81 ever Pan African meeting of Young Chrisiian Studenis. As Superior of her local community in Kumasi she was also responsible for finance. In 1983 she began training with the Movement for a Be(ier World. Following work in England she was elected to the International Leadership Team in Rome. She travelled widely, leading meetings in Asia, Africa and the Wesl Indies. She also sei up an international finance team (o advise on investments. to raise money and prepare budgeis. From 1995 to 2(K)I she was Regional Superior in England and a Truslee of the Sisters of Si Louis and she undertook Courses in leadership and trusteeship. At the lime the work involved re-organisation. sale of property and downsizing in general. Since then. she has held an administrative role in a busy London parish- for some of that time she combined it with the tasks of Team Leader and Trustee. Although no longer Team Leader she continues to work actii'ely as a Trustee. She is also a member of the Diocese of East Anglia Safeguarding Commission.
ENGLISH MISSION OF THE SISTERS OF ST LOUIS CIO TRUSTEES. REPORT Margaret Healy SSL M¥et been a meTnber of the Institute of Si. Louis since 1964 [d ¥he IS experienced leadei. She scivcd on the English Rcgionil Team foi nine ycar% from 1986 to 1995 and on the Central LeadLi%hip T¢am from 1997 to ?¢J)3. She invited by the Engli%h Region to take on the role of Regional Leader in Augusi 2(K)4. She has participaied in Irustee training days and in days organised by the Conference of Religious and JPIC Links Group. Following a General Chapier of the Instiiute, she was again elecied on Ihe Central Leadership Team from October 2009 uniil August 2015. She is currenily a Trus(ee in Ihe CIO of ihe English Community. Margaret Healy co-founded a number of organisaiions including the Commission for Filipino Migrant Workers. Waling-waling. Kalayaan. Bahay Kul)o (a Philippine Housing Associaiion) and Justice for Domestic Workers. Margaret is siill available for advice and guidance with Waling- Waling since 2018 when the organization was re-esiablished 10 support migrani domestic workers coming to the UK following the removal of the domesiic worker visa in 2012. Having completed courses in employment law, Margaret also helped as a volunteer with Urziie ihe Uiiiort on Monday afiernoons giving free advice lo hotel. reslaurant, bar staff and migrant workers- and represented them at their workplace in disciplinary and grievance hearings. In ?017118. she was involved in the preparations and proceedings of ihe London Hearing of the Pern)aneni People's Tribunal. She is actively engaged at UK and European level with the ongoing promotion of the work of the PPT. .losephine Ap1ae7 SSL: Central Team Member Josephine Gyatnfi Apiagyei made her profession of vows as a Sister of St Louis in 1985. She obtained a B.Sc. in Agriculture and a Diploma in Education. She ministered as a tutor in St Louis College of Education, Teacher Training College, Kumasi, Ghana, for fifteen years. During this tin]e, she helped to oruanise c0-cu1cu1ar activities, such as, promotion of the Young Christian Students {YCS) club, visitation of the sick and aged in the community and a training of irainers proiyr(imme for teachers in the field. She a150 took on leadership roles iv] her CongTegation at V<irious limes, includin(r Archivist, ACComp11eT]I of younuer Sistepi (d ASsiSt(t Regioiial Leader. She further pursued her studies obtained M. Ed. In Educ¢ltioT]al Management (ind an M.Sc. in ¢i branch of HorticultUTe. She iheT] tnoved frovn leachiT]g in the cliLssf(K)m to upervision for Ihe In¥peciorate ol Ihe Ministry of Educaiion= work th¥it involved development of co-currieular programme% for pupil4, monitc)rintr and eN'aluating %chool activities and organi%ing in-service Iraining io updaie teachers. AL the same time. .she look on Regional Leader.4hip respon.8ibilities in Ghana for seven years. Afier a year-long sabbatical programme in Relioious Forniaiion in Ministry she look up office as Insiiiuie Tre&8urer in Augus1 2015 on Ihe St Louis Central L£adership Team and became one of the Trusiees of the English Mission. She has aiiended Bursars Conferences in both Ireland and the U.K. Augiistina .4g!"'ire!'_Kw"akTre: Institute Treasurer and Trustee Augustina Agyirey-Kwakye made her profession of l'ows as a Sister of St.Louis in September 1985 and tinal vows 1993. She obtained a Bachelor of Educaiion in Social Studies and a diploma in Economics in 1994. She taught Social Studies and Christian Religious education in St. Louis Senior High School. Kumasi.from 1994-21K)6. During this period. she assisted students to read in the church and was a school counsellor and a member of Ihe School's Disciplinary Committee. While teaching, she was elected Regional Treasurer for the Sisters of St Louis, Ghana, from 1998- 2(JM.She then undertook a two month's course in Budgeting and Financial Management lo enable her operate effectively in this role. From 21X)2- 2(XH. she pursued a Master of Public Administration at the Ghana Institute of Management and Public Administration. (GIMPA} In 2(M)6-2010 she worked in an administrative capacity ai The National Catholic Secretarial to sel up a travel office for the Ghana Bishops Conference. io
ENGLISH MISSION OF THE SISTERS OF ST LOUIS CIO TRUSTEES. REPORT Fron] August 2010-August 2012, she studied for a Masfrr of Science in Education at the Duquesne UniveTSlty in Pittsburgh, Pennsylvanil USA. She relurned to Ghana iv] September 2012 and worked in St Loui5 Jubilee Sch(K)l as headmistress till Decetnber 2021.she ha5 taken part in capacity building workshops or<vanised by the Si5ter5 of St Louis in Strategic m(ageMent (d DocuTnent(Ilion. She was elected to the Central Leadership Teiim of the Sisters of Saint Louis in (ktober 2021 for 41 tertn of six yeiW5 ending (ktober ?027. MAIN RESPONSIBILITIES OF TRLTSTEES To comply wilh the law the ch4lty, gvverning d(Kutnents and to ensure ih<it the charity is carrying out its purposes for public benefii: To act with reasonable care av]d Skill in the charily's st interests" To manage the charity's resources responsibly and ensure that the charity is accountable. RESPONSIBILITIES WITH REGARD TO THE AccouNrs Under Chiwity L4lW, Ihe twslees responsible for prepiiring the Trustee5' AT]nual RetK)rt fin(incial 51ateTnents for e¢h fin4wcidl yerf. These show a ITue f¢iir view of the stale of affairs of thL charily. In preparing th¢se financial sthi¢menis, generally acc¢pied accounting practice necessitates that the tru8tees: Select SULtable accounling lIcIeS and apply them consistently- Make judgements eslimaies Ihal are reasonable and prudent: State whether the recommendalion5 of the Statement of RecoTnmev]ded Praclice have been followed, subject to (Iny Tn¥ileri411 departures disc105ed (d explaiT]ed in the finilT]cial 5tiltements- Prepare financial statements on a going-concern basis unless it is inappropriate to presume the charity will continue ils actii'ities. The trustees are required to act in accordance with the Constitution of the CIO, wiihin the tramework of charity law, and in accordance with the w)licies and procedures of the Institute. They are responsible for keeping proper accounting records, sufficienl to disclose at any time, with reasonable accuracy, the financial position of the charity at that time, and to enable the trustees to ensure thal, where any statements of accounts are prepared by them under section 1_32{1) of the Charities Act 2011, those statements of accounts comply wilh the requiremenls of regulations under that provision. They have (Feneral responsibility for taking such Steps a5 are reason<ibly open to them in order to safeguard the assets of the chaTity- to prevent and protect from fraud and other iegul{itie5. RESERVES POLICY The Charity seeks to maintain reserves at a level which allows it to fund the work and ministries of the sisters. At tsleeS, meetings the policy is discussed and reviewed in light of financial advice received. and of the global tinancial situation. including the rising cost of care. In this way, they try to ensure that designated funds are Set aside to provide adequate care for sisters in retiretnent, old age or ill health. INVESTMENT POLICY The charity holds two inveslmenl p)nfolios which are managed by Charles Stanley & Company Limited and Brewin Dolphin Lid. The brokers opera(e wiihin specific guidelines and ethical criteria sei by the trustees and these are revisiied and examined on an ongoing basis. The trustees li
ENGLISH MISSION OF THE SISTERS OF ST LOUIS CIO TRUSTEES. REPORT review the performance of the portfolios and the charity's investment Strategy at regular intervals and take appropriate action. RISK MANAGE%fENr In line with thL fLquirement8 for itusiees to undertak¢ a risk &ssessment exercise and give an account of this in their annual rew)rt, the trusiees have looked ai ihe risks the Insiitute faces in England and have reviewed the measures already in place (o deal wilh them. The irusiees have ideniified four main areas M'here risks may occur: Governance and Management looks ai Ihe risk io ihe Insiiiuie or charity of lack of direction or care or management skills: or of inappropriate use of resources. Operational considers the risk io the charity of engagement in inappropriate activities by its membership, difficulties with staff, unsuiLqble or poorly maintained buildings, inadequate Health & Safety or disaster recovery policies. Financial reviews the risks ari%ing for the charity &s a result of diminishing income, inadequate reserves, fraud and inappropriic ie invesimeni policies. Environmental, external and compliance looks ai the effects for the charity of an ageing membership. adverse publicity. non-compliance wilh the law, changes in Government policy and safeguarding issues. Having assessed the major risks to which the charity is exposed. the trustees believe that by monitoring its adherence lo constitutions. Chapter documents, Institute policie5 and charity objecls; by ensuring that contro15 exisl over key financial systevns; and by exavnining the operalion411, legal, $4ifeguardinu 4ind other risks faced by the Ch(lty. they have established systeJns and S<ifeguards to miliu<ite those risks. PROTECTION OF CHILDREN AND VULNERABLE ADLLTS The trustees recognise the absolute necessity of ensuring the proteclion of all those Ihe ch(lty serves. The chl[ltY takes seriously a One-church Approach and works in Compli(Ce with the guideline5 of the Catholic S<ife(VUdin(r Siiindards Auency (CSSA). the trustees (Uf conimitted to implementing and c(wina out all their policies ilT]d proceduTes. To ihis end. the ch<Wity beconie un<Lligned wilh ihe Diocese of Edsi AT]uliJ h415 drawn up a contracl with ihe Religious Life SafLgu(wding ServiLe, which will as5isl with <idiTice, training adminislTation of safeguarding matters. Ivhere nece%sary, %i%i¢rs and stall have Teeenily updaied Di8elosuTe and Barring Services Certificaies. One 8i8ier from the Mi%%ion acts Safeguarding Lead, while another is a member of Ihe Elsi Anglian Dioce.san Safeguarding Commission. The Community Leader and Sateguarding t£ad have been fully involved in ongoing discussions concerning the implementation of the One-church Approach 10 safeguarding by religious charities. The trustees have been kep( infonned and have been consulted whenever decisions needed (o be made. PUBLIC BENEFIT The trustees have consulted the guidance made available by the Charity Commission for England and Wales on the Public Benefit requirement of ihe Charilies Act 2011. They are confident that they have complied with their duty under the relei'ant section of the Charities Aci 201 l in that they hai'e had due regard lo public benefit guidance published by the Commission. 12
ENGLISH MISSION OF THE SISTERS OF ST LOUIS CIO TRUSTEES. REPORT The trustees have given details of the activities and achievements of the sister5 in previous paragraphs which indicate the 5eriousv]ess 'ith which they adhere to this guidance. These works include Laring for the elderly and infinn wiihin the Mission- the provision of spiritual. educational, SOCI411 and p<t0[lI Tnini5lry within local cotnmunities- the charit(ible donation5 to ihe Institute's Overse< Tnissiun iind le(idership PTojectS, to Other ch¥wilable causeb th4it COTne within the reniit of the St Louis Mission Siiiletnenl. FUTURE VISION The Community Leader and (n]stees will work in cooperaiion with CLT to see that the directions of the General Chapter 2021 are implemented as required. The trustees will continue to follow the schedule originally outlined in the charity's Three-year Plan (2019 - 2022) with regard to the disposal of property surplus to requirement and the seeking of professional advice about P<itriTnony. ArriingementS undenvrfly to Pl(Kiuce informal hitstory of the Si%lers of St Louis in England .8inLe 1912. The FinanLial Admini%traior. Anne Mose8, who has served ihe chariiy wilh thoroughness and great inlegriiy for many years, is due 10 retire ai the end of June 20?2; Ihe ustees and mernbership of the English Mission Ihank her for her Irustworthy service and wish her many years of happy retirement. Meanwhile, a successor is being sought. AllllL.Ilts$ IFin. Ad511.} IIoran SSL ITrcasurerl As sisters return lo their homeland in the coming year or so, measures continue (o be put in place tor the care ot those who leave and those who remain. The tnlsiees are in the process of deciding on an adequate amount ot funds to be set aside to finance ihis care in Ireland over the next 10 - 15 years. They are confident that the finances of the CIO are in a healthy condition. EMPLOYEES AND MEMBERS OF THE INSTITUTE The Trusiees wish to record iheir Tecognition of the prolessionalism and con]mitment of all their taff and the individual members of the Insiiluie. TheiT dedicaiion and positive approach are very much appreeiaied. Signed on behalf of the Trustees Mary Moran Trustee Approved by the Trustees on 2 Sept 2022 13
The English Mission of the Sisters of St. Louis CIO Auditors, Report Independent auditor5, report to the Tru5tee5 of El]ish Mi&5ioll of tbe Sisters of st CIO We have audited the financial %taiernenl.% o( the English Mis%ion of the Sisterb ol St LA)uis CIO for the year ended 31 March 20?2 which coprie the Sidietnent of Fin<lllCidl ActiTritie%. the Balance Sheet. stat¢Tht of cash flow% and the related note%.The findncial reporting franWork that has been applied in their preparation is applicable la. and Uniied Kingdom Accounting Standards, including Financial Reportin Siandard 102 'The Financial Reponing SLindard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepied Accollnung Practice).. In our opinion the finaneial %tatement%= give a trlle and fair i'iew of the stale of the Clri$ affairs ai 31 March 2022 of its Incon and eApendin]re for the }'ear then ended- have been properly prepared in accordance with UK Generall). Accepied Accounting Practice. and - hdve be£n pioperly prepared in accordance with the requireJDeDts of the Charities Aci 2011. Basis for opinion We LvnduLted uur dudit in &iccord<ince with Internl(loal sLInd1[d5 on Auditing IUKI IISAS (UK}I dnd dpplicdble Idw. Our responsibilitie under those 5tdnddtd5 further described in the Auditor's reswnsibilities for Ihe dudit of the accounts section of our report. We ate independent of the chatiiy in accordance with the ethical requirenEn(s that are relevani 10 our audit of the accounts in the UK, includino the FRC'S Ethical SLindard. and we haNe fulfilled our odier ethical responsibilities in accordance with the%e requireinenL%. We believe thai the alldii eyidence we have obtained is sllffjcieni and appropriate to provide a ba%1% for ollr opinion. Conclusions relating lo going concern We have noihing to report it) respect of Ihe following matters in relation io 1¢h the ISAS (UK) require us 10 repon to you where- Ihe irnsTres' of the going ¢on¢em basis of a¢couJiiing in the preparation of a¢¢ounis is noi appropriaie- or the trustees have not disclosed in the accounis an). identified nUleri uncertainiies that may cast significant doubt about the charity'% ability to continue to adopt the goin£ concern basis of accollniing for a period of at lea%1 twelve months from the date when the accollnis are authorised for i&slle. Other informalion The irusiees are responsible for Ihe infom]aiion_ The other infonnation comprises the inforn]aiion included in Ihe report and accounts oiher Ihan Ihe accounLS and our audiior's report ihereon. Our opinion on the accounts does noi cover Ihe oiher inforniaiion and we do noi express any fomi ot assuranLe Lonelusion ihereon. In Lonnection wilh oui auL1ii tsf the accounts, oui teswnsibilil!. LS to reaij the oiher infomiation and, in doin(T so, consider whether the other inlotmaiion is tnaieTially inLonsislent with ihe &Luunls or our kno"[edge ubidined in Ihe audit 01 oiheiwise aptEars iu be teriallY misstated. Il we ideniily SULh maietial incon5islencies or apparenl terial mi551aleTnen15, we aTe required lo deterlt whether there L5 a rt]aterial mis51aternent in the accounts or a malerial mis5taLent of ihe other infottnation. If, based on the work we haN'e perfO[nd. we conclude that theie is a terial missLatetnent of Lhis other infonnation, we ai"e Tequired lo report that fact. We have nothing to report in thi% regard. Matters on which we are required to report bTr exception We have nothing to report in respect of the following maLiers where the ClwiLies Aci 2011 requires us to report to you if. in our opinion'.- the infutiOn given in the TtUStees' Annual Rert is inconsistent in 4Y rnaletial respect with the financial stateTnenls: or sufficient aLLvunling ieLords have not been kept= or the financid stalemenis are noi in aoreemeni with the accounting records and relurns- or 'e hdve not ieLei%'ed dll the informatiun and eXpl110n5 we require for our audii. Re5poDsibilities of trustees As explained more fully in the Trustees, Responsibiliiies Statement sel oui on page I I, the Trustees are responsible for the preparation of fjnancial %iatements which give a m]e and fair I'le., and for such iniernal control as the twstees deierniine is neee8%ary ta enable the preparaiinn af accounts thai are free from Mtrial Jnissiatement. whether due to fraud or errnr. In preparing the accounts, Ihe irusiees are reswnsible for &se$Ig the chariiy-s &biliiy to continue a going concern, di.sclo.sing, as applicable, mailers related to going ¢on¢em and u.sing Ihe going concern basis of accouniing unless the tyusiees either iniend to liquidaie Ihe Lharity or io Lease operations. or hai'e no realisiiL aliernaiike bui io do so. 14
The English Mission of the Sisters of St. Louis CIO Auditors, Report Auditor's responsibilities for the audit of the accounts Our objective% are 10 obtain rea%onable ag%urance aboul whether the accounts as a whole are free Irom material mi58tatement. whether due to fraud or etror. and (o i¥%ue an dudiior'¥ tetK)n ihat in¢lude% our opinion. Rea%onable d%%uranee 1% a hiJ] level of a%%urdnce, but 1% not d guardniee that an dudii conducted in dccordance with ISA% (UK) wiu dlway% detect d mdteridl mi%%tdtement when it exi%t8. Misslaiements can ar]e from fraud or error and are CO51dered terial if, individually or in the aggregate, they could reEL8onably be expected to i]fflllence the economic deci.%ions of se[S taken on the basis of these accollnt.s. A further de%cription of our re%pon%ibilitie% for the alldii of the accounL% is located on the Financial Reporting Council'% web%iie at W.frC.Org.k/alldl[0r%re%pon.51l)i1l[ieS. This de%cripiion forn]% pan of our audiior'4 report. Use of report Thi% report is ade %olely to the Cl1(y, a IK)d)'. in dCCOtILance with 5tion 144 of the CIMitie% Aet 2011 and with reguldlion% de under %ection 154 of that Act. Out dudii work undertdken so thdt we I stdie to the chlty,% tru%tee tho%e matters we are required to stale to them in an auditor's report and for no other purpose. To the lIest extent pennitted by law. we do not accepi or a%%lltne re%ponsibiliry io anyone other than the chariti". and the chariry'% as a body, for ollr alldit work, for this repon, or for the opinions we have fornd. Borueki & Co ChorieredAccountanis and sioi£iroryAJlIors 42 Radnor Road Harrow Middlesex HAI I RZ Signed on 5 September 2022 Bon]cki & Co is eligible io act a5 auditor 111 tern of Section 1212 of the Companies Act 2(K)6. 15
The English Mission of the Sisters of SL Louis CIO Statement of financial activitie5 (incorporating an illCoe alld expellditure account) for the year ended 31 Mareh 2022 General Designated General Designated fund rund Notes 2022 2021 Incoming resouryes Voluntary inton*: Donaiion% and legaLies S&laries Siipend% and pensiorts Gue%1% Activities for generati]Jg ful. Inve%imeni income Miscella]kous income Mi.ieellaneoii Surplus on sale of assets 2.431 197.ii3 {IIM)I 2.431 197.553 11(M)I 216.882 15851 216.882 15851 73.9)4 47.0?3 120.977 123.6(A 82.812 40,8)2 818.3?7 1.097 16) 818._1?7 1.139.188 47.0?3 339.961 299.109 40,8)2 Expenditllre Raislng fvnds Inve%imerti martageT% fees Propertj man&gers fees Charltable attlvlties: Charitable activitles Upkeep of communities Ce ofaged members Donaiions and missions Governance Losts DefeLlt on se of asseis 7.995 16.728 24.723 25.3( 10,177 15,183 294.705 ?94.705 20.713 356.966 16.783 259.030 57.743 1,081.9(XS 10.991 259.030 ?0.713 57,743 3i6.966 16.783 1,081. 10.wi 668.4)4 10.713 689.167 1.409.670 ,151.9?7 57,743 Totsl eXIdItllre 676.449 37.441 713.89) 1.435.030 1,162.104 72,926 Incomthg resourees I$ eXnd[tre 415.716 9J82 425.298 {1,095.(W)I 11,062.W51 (32,0741 Net gahns O¢K4sesl on Invtstnknts ?6.466 IIH.7(A) 131.226 539.056 342.7 196,266 Net Income (eXnditre} 114.34? 556.524 1556.013} 1720.?051 164,192 Transfers between funds Net movement In lunds 442,182 114J42 556.524 1556.013 1720,2051 164,192 Retonclliatlon of funds TO1 fiinds broLighi forwaTd Transfcrrcd from Thc Inblltuie of The Sisters of St Louis Juill},.Monaghan Toia] fllndb ¢ed forward 3.7.35.47? -6.949.7?7 4.177.6i4 4.IYIl.(K 7.68.5.199 8.?41.723 8.?41.212 7.685.199 4.4fjfi.677 3.785.535 -3.735.472 3.949,727 The staietn¢ni ot tinan¢ia] actlVlLI¢S includes all gnS and 10&5¢5 in the y¢at. All incoTning Kgiuwes and rrsourres expended d¢nv¢ from ontinuing actlVlLie.s 16
The English Mission of the Sisters of St. Louis CIO Balance Sheet as at 31 March 2022 Note5 2022 2021 Fixed a&sets Tangible assets Inve8trnent% at market value .038.121 3 ?38.662 4.?76.783 2,493.828 3.1?8.4.5.5 5,6?2 ?83 10 Current i)&8ets Debior C&sh ai bank and in l]and ?4.017 4.09? 316 4.116.333 34.879 2.180,547 2.215,4?6 Creditors: anM>unt5 falling due within one year i? 1151,393) (152,5101 Net current assets 3.964.940 2,062.916 8.241.72.3 7,685,199 Capital and reserves UrtrIcted funds: Geneidl funds Designated fund5 4.177.654 4.0fv1.O69 8.241.723 3,735,479 3,949,727 7,685,199 Appoyed by the Tru5tee5 and signed on their behalf Mary Moran TnLsiee Approved by the Trustees on 2 Sept 2022 17
The English Mission of the Sisters of St. Louis CIO Statement of cash flows for the year ended 31 March 2022 Nots 2022 2021 Cash generated in operating actiiities 1.S(M),9401 11,370.7411 Cash flows from investing ac]tieS Investment income Proceedb of inTresiment sales pUrCheS of investtnents Ner proceeds on sale of a5Set5 Cash provided {llsedl in investing activities 120,977 40i.917 1377.3081 ? ?70.713 ?,4?0.299 12.3,664 517.768 1488.2761 153.156 Increa%e in c&%h and cash eqllivalenL% in vear 1,919,359 11,217,585) Movement in year {DeCree) increase in cash at bank and in haml ([kLre<el increase it] Lash held by inVeSten1 rn4inagets for re-1nvestllI 1,911.769 7,-5 1,919.3.i9 11.217,2671 13181 11,217.5851 A. Reconciliation of net movement in funds to net sh now from opernling 2022 2021 Nei income leAAlIu[el IkduLt investmenl inLurne Add depieLialion {Profitl 105s on sale of assets Addlldeduci) nel moi'etneni on investsnent5. Increa%e (decrease) in creditors {IncreL%e} decrea%e in debiors 556,524 1120,9771 3.321 (818.3271 (131.2261 1556,0131 (123.6641 4.428 1539.0561 (176,0071 10,862 19,571 15(K).941)1 11,370.7411 18
The English Mission of the Sisters of SL Louis CIO Notes to the Aeeounts for the year ended 31 hlarch 2022 Aeeounting polieies Accounting convention The account% have been prepared under the lll"%iorical co¥1 conveniion wilh iienL4 reeogni4ed ai co41 or iran%aciion value unle%s otherwi%e %taied in the [eleN.Int note{.4) 10 Ihe¥e attouni%. The fi]kkneial .%L11emenl.% have been prepared in aeeordance with the stdleet of Recomrnended Prdciice.. Accounting ReFK)rting by chtieS preparing their dccoullt in aecordance with the FincIal Reporting Standd <ipplicable ill the LK and Republic of Ireland IFRS 1021 i%5ued on 16 Jllly 2014 and the FinCIal Reporting SLqndard applicable in the United Kin£dO and Republic of Ireland (FRS 1021 and the c11e5 Act ?01 l. The tru%t con%tillltes a pllblic benefit entiry defed b)- FRS 10? The trustees consider thai there are no n]aieria] uncenaintie.% about the Trusi's abiliry io continlle a going concern. Income All Incon is recogni%ed once the chariry has enut]ement io the incon. it ]% probable thai the income will be received and tlie nouni of income receivable can be naSured reliabl)". Donatio%. are rtcogni%ed when the Trust ha% been notified iii writing of both the amouni and setilemeni date. Legacies are recogni.sed on a cabe by case basi5 follo.ing the graniing of proba the administraiorlexecuior for the esiate has communicated In ting boih Ihe amouni and senlemeni da Inierest on funds held on deposil is inLluded when receivable and ihe anK)uni can measured reliably by the charily- this is nornLqIIy upon notifiLaiion of ihe inieiest paid or payable by ihe bank. Dividends ale ieLognised onee the dividend ha5 been declared and notifitaiion has been ieceived of the dividend due. This is notm(Illy upon nutifiLdliun by uui investmeni advi5uI of ihe dividend yield in ihe inNesttneni portlolLO. Expenditure Liabilities die teLo¥ni5ed d5 expendiiuie a5 Ihere is a leual or LonsIrt1Ltie ubljualion ujnunilling the Lhdtity lo th<il expendiluie, it is piobable that 5ettlernenl be iequired and the of the obliudtion can be mea5uied relidbly. The cost of geneiatinu funds includes the fees paid to investment n&agerS in respect of the manaoemenl of the chaTit} s investment portfolio5. Expenditure on cFwitable activities comprises direct exnseS incurred on the defined charitable purposes of the charity and include% %iaff co%18 attributable 10 the aciiviiv. GOVernet COSLS comprise of expenditure on conipliance wilh and &dvice on co]L%tituiiona] and %thtutory Inatiers. AS all expenditure can be atiribuied io specific Cwegories no app)nionrnI between luding has been necessary. Irrecoverable VAT is included in Ihe iiems of eXnditUre 10 which it relgies. Tangible fixed ats Freehold land and buildings, in the main used as privaie tesidenlial acLomnKKiation, are included ai a valuaiion based eiihei on a value eslimdted by the Irustees ui on hislvTiLal LU51. The Ttuslees nul Lonsider ihdl the expense of a ptulebsional walualion irt urdei Iu d5Lertdin the sepaTale Vdlues of the land and buildings is justified. The building5 are in con5tani use in furtherance of the chatilable objective5 and are mainLiined to standaids that ensure thdt their iesidual value 15 noi less than the book value. Buildin(Ts are not depteciated: for rea50ll 5Llted. Lhey have a very long useful e£onoTnic life such that annud depreciation would be imniaierial. All as%ets co%ling more than £5(K) and with an expecied life of more than one year are capita]ised. Depreciation is provided at the following annual ratrs in order to write off each asset over lis esti1ned useful life.. After five year% plant, equipment, fixiure% and fittings with a net book vallle of nil are written out of the a¢¢ounis as in the opinion of the Trustees such assets have a negligible residual value Plani, equipment. fixiures and fillings 20% or 25* on cosi. Motor vehicles 2.5 * tsrt nIleft dowi value. Forei¥n currencies Transaliions in foreign currencies are recorded ai Ihe raie rnling ai ihe dale of ihe Iransaciion. Monethry assets and liabilities denominaied in foreign currencies are iranslaied ai ihe Tale of eiLhange ling ai ihe balanLe sheei dale. All differenLes are thken io Ihe piofit and loss account. 19
The English Mission of the Sisters of SL Louis CIO Notes to the Aeeounts for the year ended 31 hlarch 2022 Investments Invcsttl)Cllt% are a forni of basic financial instnuneni a1 are initially recognised ai their [ranClI0 value and .%ub.sequenily mea%ured ai their fair vallle as ai the halance %heet de using the closing quoied nwkei price. The %thtemeni of financial activities include% the net gain% and In%%e% arising on revaluation and dispo1% throughout the J'ear. The Trust d(% not acquire put options, derivaiives nr other complex financial in%trnmenL%. The main fom) of tinancial risk taced by the chariiy is ihai of volaiiliij in equity markeL% and investhieni markeLS due wider economic condilion%, the atlirude of invesiors io inve%imeni risL and changes in sentiment Concerning equitiek and withi.n particular ectors or sub.seetor¥. All gains and losbes ate taken to the Statement of Fmancial Activities as they a[e. Reaknsed gains and losses on investments are CalculLled as the difference between sales proceeds a[ their opening Cdrt)'ing idlue or their purchase value if dcquired subsequent to the first ddy of the ficial ye4Lt. Unredlised gn5 losses Ccula[Cd as the difference between the fair value ai the year end and their Cdrrying value. R&dised and unreaii%ed inYe%tllnt £ain% and 104%es are conthined in the Sthtennt of Financial ActilI]es. Fund accounting Unrestricied income fund5 comprise those funds wFll"ch ihe tsusieeb are free io use for any purpose in furtherance of the chariiable objeLtives. Unreslricd lunds include desigmated funds %,here ihe uusiees. ai their distieiion. have Lreaied a tund for a s¢111¢ Purpose. The general fund COTnpTises those rnonies. which mas, be used iowards ttjecting ihe charitable objectives of the chdrity at the discretiun of the Trustee5. The designated funds are monie5 set aside out of general fund5 and designated for specific putpose5 by the TTUStee5. Taxation The chariij. is a regi%iered chariry and therefore is liable for income tax or cor[M)r]0 tax on income derived from its charitable activities, &$ li falls 'ithin the Yarious exemptions avtiilable io regiSred charities Salarie5 and 5]05 of tnembers General rund Designated rund General Designated rund fund 2022 2021 Salaries Penbiuns 6, IW.6 197.553 7,155 ?09,727 216,882 I.644 197.i53 209,727 ?16.88? The %daries and pensions are the earned income of the Menibers of the Order h0 have donated ii. under gift-aid, to d)e Investment inrome neral rund Designated rund General Designated (und fund 21122 2021 Dividends and InreSt from investnnts Bank and other interest Rents 35,450 267 47,023 82,473 267 38.237 120.977 73.2tK> 2,418 48,046 123.664 32,348 40,852 48.046 47.U23 40.1152 20
The English Mission of the Sisters of SL Louis CIO Notes to the Aeeounts for the year ended 31 hlarch 2022 Activities in furtherance otthe charity's objectives General fund Desigtwted fund General Designated fund fund 2022 2021 Upkeep of communities Staff co%ts Premi%es Communiry and teThonal Admini¥tration 14.985 1?5.6?8 127.13? ?6.960 294.70) 14.985 125.628 127.132 26.960 294.705 15.736 118,363 l(M),471 24.460 ?59.030 15,736 118,363 IIX),471 24.460 259,030 Care of aged Sisters Ce home tees dnd personal eXnSeS 20.713 20.71.3 20.71.3 20.713 115.486 115.486 -57,743 57,743 57,743 57.743 Goverttanee e05ts CTeneral fund DesigDated filnd C7eDeral Designated fund fund 2022 2021 Audii fees Accouniancy fees Solicitors fees 5,6(X) 3,4tK> 1,991 10.991 -5,600 3,400 1,991 10,991 3.41J) 7.783 16,783 3.41J) 7.783 16.783 Net incoming {outgoiDg} resources before transfers This is siaied atier charging (Lredilingl Genernl rund Design*ted rund General Designated fund 21122 2021 Stdfl Lobls Auditors remuneration Accounting and other Depreciaiion 14.985 14.985 15,7.36 5.6(K> 3,4(X) 4,428 15,736 5,600 3,4llO 4,428 3,321 3.321 Staff costs. aDd trustees, remunerdtion 21122 2021 Siaff cosis during the year were as follows.. Wd¥es dnd 5dl<Uie Social security c051S Pen%ion contribuiions 14.972 13 15.474 262 14.98.5 15.736 No eniployee eamed rnore than £60,(KK) per annuTn (including benefits} durin Ihe year or in the prei'ious yeaT. Nn iru.%tee receii'ed ally remuneratian or rein)bursemeJii of expenses ill respeci of %cThice% a% a during the year nr in the previous year. The lilg eXt]se5 of all members of the Order. including Trusiees. resident in England are paid from ihe funds of the charity. The uveruge nulnber of eJnployee4 analy5ed by fuDction w. Nur%ing and domestic Taxatlon The CIO, as a registered chariiy. is exem from Lryxation on ILS inco and oains falling within Sectiol) 505 of the Te$ Aei 1988 nr Section 256 of the TatiOn of Chargeable Gains Art 1992 the exieni thai they are applied 10 iis chariiable objeciives. No lax charge has arisen in Ihe year_ 21
The English Mission of the Sisters of SL Louis CIO Notes to the Aeeounts for the year ended 31 hlarch 2022 Tangible fixed a&sets Furniture and equipment Freebold land lotor and buiidillgs Yehiele5 Total Cost At l April 2021 Additions Di%po%al8 At 31 March 2022 ?.480.544 83.027 ?.563,571 11.452.386 1.028.158 11,45? 3R61 1.111,185 83.027 urniiure and equipment Freehold land and buildings vehicles Total Depreciation At l April 2021 Charge for the year On di%po%d% At 31 March 2022 69.743 3.321 69,743 73.064 73,004 Net book value At 31 March 2022 At 31 March 2021 1.0211.158 .038,121 2.4Y.3,828 2.48U.544 1.1.284 10 Investn]ents 21122 2021 Listed Investments Maiket V<ilue l April Additions at C05t Sale proceeds from dispo%al% and transfers Gain (loss) in year Maiket V<ilue ai 31 MaiLh 2022 Cdbh held by invesimenl mand¥ers foi re-inve51ment Deposit iti OikvLredit Capital Aeeount 2,970.704 2,461,140 377.308 488.276 {40i.9171 1517,7681 131.226 -5.39.U.56 3,073..321 2,970,704 55.IKII 47,411 110.340 110.340 3,238.662 3,128.4i5 Cost of lisd invesiments ai 31 Mwh 2022 2,759,943 2,726,464 11 Debtors 2022 2U21 Sundry debiurs Other debtors Prepayn)ent8 and accrlled income 20.916 3.101 34.879 24.017 34.879 12 Crtditors: amounts falling due within one vear 2022 2021 Patiimvny anil dowTy Sundry Lreoliloi Accruals 134.676 7.117 134.676 8.8.A4 151.393 152,510 22
The English Mission of the Sisters of SL Louis CIO Notes to the Aeeounts for the year ended 31 hlarch 2022 13 Designated funds Ai l Aptil ?o?o Incoming Utili%edl At 31 MdTch 2021 Care Fllnd Capital fund 1.469.183 2.480.544 3.949.7?7 47.023 67,3 19 1.583.525 2.4¥U,-544 4.064,009 47.0?3 67.319 14 Analysis of net ets between funds General Designatsd fund funds 2022 Tangible fixed &%seis Curreni &5sets Credilors." aOunt5 falling due within une year 1,71i.748 2,613.299 ?561,035 1,503.U34 4,276,783 4.116,3.33 1151.3931 4,177,6.i4 1151,3931 8.241,723 4,(K)4,U69 23