Charity registration number 1173507 The English Mission of the Sisters of St. Louis CIO Report and Financial Statements 31 March 2025
The English Mission of the Sisters of St. Louis CIO Report and Flnancial Statements Contents P*ge egal and administrative inforniation ruslees, report ndependent auditors report tatrmcni of finan¢ial aclivitie5 alance sheet 21 oies to the fllwiclal statements
ENGLISH MISSION OF THE SISTERS OF ST LOUIS CIO TRUSTEES, REPORT Report and financial statements for the period 01 April 2024 to 31 March 2025 Legal and Administrative Information INSTITUTE LEADER Sister Patricia Ojo MISSION LEADER Sister Blanaid Mccauley TRUSTEES Sister Patricia Ojo Sister Margaret Healy Sister Augustina A8yirey-Kwakye MISSION TREASURER Sister Margaret Healy MISSION ADDRESS Sisters of St. Louis CIO Boundary House 91 Charter House Street London ECIM 6HR CIO NUMBER 1173507 AUDtTORS Williams Chartered Accountants Jade House 67 Park Royal Road London NWIO 7JJ INVESTMENT MANAGERS Charles Stanley & Co. Ltd. Ropemaker Place, 25 Ropemaker Street London EC2Y 9LY Brewin Dolphin Ltd. 12 Smithfield Street London ECIA 9BD BANKERS Barcla¢s Bank 63167 Terminus Road Eastbourne BN213NE SOLICITORS Stone King Boundary House 91 Charter House Street London ECIM 6HR Page l of 26
INTRODUCTION The Institute of the Sisters of St Louis is a congregation of Roman Caiholic 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, organization and vision, with members in nine different countries. The charity is entitled English Mission of Ihe Sislers ofst Louis CIO, having been registered with the Charity Commission as a Charitable InCoorated Organization No. 1173507 in June 2017. The Governing Document of the Charity is a constitution which states that, Ihe objecl of tlie CIO is siicll charilable purposes which advance the religious and oihei" charilable workfor ihe tinte being cai-ried on by oi" under ihe dii'eclioii of ilie In.¥titiile a.¥ ihe Tnislees wilh the approval of the Inslifute Leader shall fron7 time lo time thinkfit. The financial statements accompanying this report are the financial statements of the CIO on which the assets of the Institute in England are held. OBJECTIVES AND ACTIVITIES The Institute of the Sisters of St Louis expresses its objective as a furthering of the vision, treasured and pursued by its founders, of o world healed, unified ond transformed by the saving wisdom of Christionity. The English Mission of the Sisters of St Louis CIO aims to support the religious and charitable works carried out by its members in pursuit of this vision and to care for its members throughout their lives. CARING FOR MEMBERS The English Mission has an obligation, both legal and moral, to provide for all its members. none of whom have resources of their own and all of whorn have committed a significant part of their lives to education, healthcare and other charitable works, here in England and abroad. A Health Care Plan is in place to ensure that necessary and timely provision 15 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 next stage of care. Age Profile 75-79 80-84 85-89 Number The aims of the trustees in caring for sisters are: Making sure there are adequate resources for healthcare provision; Enabling members remain in ministry as long as is reasonable; Evaluating care and facilities to ensure members receive care suited to their needs. By caring for individual members during their lifespan with the Institute, the charity aims to enable and support individual sisters to 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 Page 2 of 26
encouraging the work of individual sisters, the trustees have given careful consideration to the Charity Commission's guidance on public benefit. RELIGIOUS AND CHARITABLE ACTIVITIES The work and ministries of the slsters reflect the values of the Institute's Mission Statement, its recent Chapter Documents and Policies. They fall broadly into the following areas: o Prayer and Spiritual Development; Education; o Justice, Peace and Integrity of Creation; o Overseas Involvement,. Governance Prayer and Spiritual Development The commitment of the sisters to God, the Church and the Institute, requires them to undertake on-going formation and the transformation of their lives through prayer, worship and study; and to find ways of meeting the spiritual hunger of the wider public, through parish and other organizations. o Sisters increase their understanding of and relationship with God through prayer, courses and retreats. o Members share their experience, values and gospel vision in a variety of ways; and reach out to those of other denominations, faiths and ideologies in respectful dialogue. o Sisters also visit or befriend their sick, elderly and bereaved neighbors. Formal and Informal Education The members are engaged in a variety of informal educational activities including: o Contact with former St. Louis Schools; serving in parishes, acting as Lay Ministers of the Word and the Eucharist,. participating in parish and other study groups. Justice, Peace and Integrity of Creation (JPIC): Members seek to promote JPIC through all their ministries and engage in a variety of services.. Befriending and supporting refugees and migrant domestic workers of all nationalities- Involvement at different levels with established groups/charities, such as, JPIC Links and the National Justice & Peace Committee. Campaigning, emailing, protesting for promotion of human, animal and planetary rights. The sisters are more careful than ever to save energy, not to waste water and to recycle goods and materials where possible. Page 3 of 26
Overseas Involvement o The charity supports projects run by the Institute of the Sisters of St Louis in Brazil, the Republic of Benin, Ethiopia, Ghana and Nigeria through prayer and financial aid. o A modest fund is set aside annually for donations to small enterprises that reflect the values of the St Louis Mission Statement; or to global charities for humanitarian purposes when major disasters occur. o The charity has made an investment with Oikocredit, a cooperative society that offer5 loans to small enterprises with real potential for broad social impact. o The members offer support and hospitality to Slsters who come to England from Nigeria, Ghana and France for international meetings and courses of study. The aims of the trustees in the above areas of ministry Include: Enabling sisters to avail of the necessary training and on-going formation for their personal and spiritual development and for their charitable work; Encouraging and motivating sisters to become agents of change as they seek to transform unjust strurtures and to promote reconciliation; Encouraging leadership styles that enhance collaboration. consensus-buildin networking and team-building; Helping sisters develop the necessary skills to enable them to access Up-tdate information on current affairs and JPIC issues; Sharing of resources in a spirit of mutuality. REVIEW AND ACHIEVEMENTS Review of Activities 01 April 2024 to 31 March 2025 The trustees consider that the main objectives of the charity have been met by the sisters and that much good work has been carried out 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 inform and educate themselves and endeavor to bring their wisdom and experience to a wide variety of activities, some of which have been carried out by Zoom; a consciousness of justice, peace and the integrity of creation permeates what they do in their efforts to build up right relationships in church and society. Parish involvement, advocacy and concern for the poor and needy often make demands well beyond the call of duty. The trustees are satisfied that the objectives of the charitvs mission have been carried out. CARE OF MEMBERS Care for remaining sisters of The English Mission of Sisters of St Louis CIO came to an end in September 2024 when the last of the remaining sisters returned to Ireland. Preparation for the care, accommodation and welfare of the sisters was a priority. The Trustees and Community Leader are grateful to the members of the Irish Regional Leadership Team for their unstinting support in providing appropriate accommodation for each sister and in ensuring that all healthcare needs were met. Page 4 of 26
EDUCATION The Woy We Were Following the commissioning of a history of the English Mission, a committee wa5 set up to manage the project. Margaret Healy SSL had principal responsibility for seeing to the practicalities. such as, setting up interviews, reading drafts, following up with the author, dealing with finances, both in the U.K. and Spain; and overseeing the distribution of copies. The Way We Were is a book commemorating the lives and ministries of the Sisters of St Louis in England since 1910. It is an informal history based both on archival research and personal testimony; it encapsulates the memories and stories of present-day sisters as well as tributes from past pupils and friends. Written by Jo O'Donoghue and published in 2024 by Londubh Books, Dublin, it senies as a legacy of the 110 years spent by the sisters in various English parishes and dioceses. Copies are being gifted to sisters throughout the Institute; to former schools and parishes; to public libraries, history societies and other enterprises where sisters are known in England and Ireland. On a return visit to England in March 2025, Blanaid Mccauley SSL distributed copies to former pupils and colleagues. to St. Louis Primary Schools in Aylesbury and Newmarket, as well as St. Benedict's which incorporates St. Louis Middle School in Bury St. Edmunds and St. Mary's in Gorleston, (formerly in Great Yarmouthl. Above lefi.. Past pupils, Judy Daniels and Stella Cordingly, of St Louis School Gt Yarn)outh receive copies the book to be distributed al the annual past pupils. reunion on 7, April. Above nghi.. In Bury St. Edmunds, Anne Chester {De¢ Moses}, forn)er Finance Athninistrator, with partner L¢sley* gcts a copy of the book from Blanaid Mccaulcy SSL. Wellbeing Hub at St Lou5s Catholic Academy Newmarket As part of the official opening of the St. Louis Wellbeing Hub, pupils, staff, School Governors and representatives from the East Anglia Diocesan Education Department gathered in the church of Our Lady Immaculate and St Etheldreda in Newmarket on 21 March 2025 to celebrate Mass. The concelebrants were Bishop Emeritus, Alan Hope and former school governor Revjohn Morrill, assisted by former school parent Deacon James Hurst. The Thomas Page 5 of 26
de Burgh chalice, gifted to the Sisters of St Louis in 1942 during their time of evacuation in Retford, was used at the Mass. Bishop Alan reminded the pupils to be grateful for the many gifts they receive each day and, in particular, to give gratitude for the provision of the 'Wellbeing Hub, by the Sisters of St. Louis. ftfl The blessing of the Hub took place back at the school. Blathnaid Mc Cauley SSL, representing the sisters, expressed her joy at being present and praised the staff and governors for their initiative in building the Wellbeing Hub that would serve the school community as a place of sanrtuary for those experiencing distress and anxiety. She took the opportunity to present copy of The Way We Were to the current headteacher, Mrs. Sue Blakeley. Gratitude for the Hub was expressed in the most recent East Anglia Dioceson Letter, 'This beautiful new facility has been made possible thanks to an extraordinarygift of £IOO,000 from the Sisters of St Louis. Their generous donation has funded the creation of a multi-purpose space dedicated to supporting children with social and emotional needs. The Hub provides confidential counselling space, a calming sensory room, a quiet retreat for support meetings, and dedicated area for small group therapy sessions. The School Governors along with the whole school community, are deeply grateful for the sisters, enduring commitment to the wellbeing of children. Having served the Newmarket community for many decades, the Sisters of St Louis left a lasting legacy of love and care. Their desire to continue supporting future generations has found its expression in this project - a gift that will bless many lives in the years to come" Page 6 of 26
JUSTICE AND PEACE Following two year5 of preparation with the 5UPPOrt of Margaret Healy SSL Waling organization and The Voice of Domestic Workers, a Domestic Workers Branch was established in Unite in February with the election of officers taking place at the March meeting, A training program is now in place for the elected officers. This is the first Branch of Domestic Workers in the UK and is a major achievement for both organizations in terms of their ongoing work in gaining support and workers, rights for their members. They will now affiliate with other domestic workers Unions in Europe, South and North America, Africa and Asia. Sr. Margaret Healy's Retirement Party 2024 Justice 4 All Mlgrant Workers Working Group at Waling-waling Page 7 of 26
Margaret working at Kalayaan oifice Cooking lunches at St. Gabriel's Parfish Kitchen GOVERNANCE/PUBLIC BENEFIT The Trustees held a number of meetings to plan for the retirement of the sisters and the closing down of their Mission in England after 110 years. They worked on preparing to empty and vacate three of the remaining properties owned bythe Charity. Together with the Finance Manager, they carried out the administrative tasks in the process of selling these properties. All three houses, in South Harrow, Brighton and North London, were sold between July 2024 and January 2025. £I!IIJIIA ijii li Parkfield Road, South Harrow Cowley Drive, Brigbton Chauccr Close, North London The Trustees also planned to donate some of the funds from the sale of these properties: to their African Sisters on the Mission in Ethiopia to help the people cope with the war in Tigray; to the sisters in Nigeria, Ghana, and Benin as they work to further the education of their young people and to cope with the medical needs of people in these countries. Two of the Tru5tee5 held meetings with a former member of the Sisters of St Louis who is paying a peppercorn rent for another property owned by the Charity. They negotiated an updated contract with her based on legal advice. The updated contract applies in the context of the transition to a new situation for the Charity and the way in which this affects the future situation for the former member. Page 8 of 26
OTHER DONATIONS A¢knowledgemen¢ ofprevious donation Pods for Homeless People The parishioners along with Deacon Stephen Sharpe of Peacehaven R.C Church in East Sussex expressed their deep gratitude to the Sisters of St Louis for the donation of £16,000 to provide two 'Pod Homes. for single living accommodation ": F.: for the homeles5 in the Peacehaven area. Donations £lk- Iok Substantial donations were made to the following organizations: Mary's Meals. St. Francis Leprosy Guild, WRCDT St. Gabriel and Catholic Agency for Sudan. Also, Maryna Masich, a Ukrainian refugee, expressed her deep gratitude for a donation of £10,000 which enabled her to complete her law degree at Sussex University. She promised that when qualified as a lawyer she would do her upmost to serve the most disadvantaged and discounted in society. OVERSEAS On 2 April 2025, Perpetua Apo wrote the following to Margaret Healy SSL, Treasurer: On behalf of Maureen and me, I wish io sincerely express our apprecialion to you and all in lhe sisters in the English Mission. We are incredibly gratefulforyour belief in ihe Mission to the poor andyour suppoi"t and conimitmenl lo the SSL Mission in Ethiopia. Your dedicalioii to Ihe mission here has been aslounding. All your messages (cash and kind) have been relayed lo us by members of ihe CLT. The two of us in Ethiopia do not have aiiy cause to complain of lack because you have slood solidly behind the Inslitule s couise in Ethiopia andsupported in all aspects despite thefacl thal we li'ied io keep our heads above the slorm and the impacls of ihe conflicl in Ethiopia. In Addis Ababa, the two of us were engaged in helping oul al the Conference ofmajor Religious Centre and two Catholic Schools in Addis while we were still actively involved in the smooih ruiining of the Kindergarlen in Dawhan - allending iiieetings with ihe leachers. parenls as at when due, prompi paymenl of ieacheis salaiy andprovision and supply of malerials for rhe school maintenance. All thanks Zo you and all the sistersfor your genero1 donalioii towards Ethiopia Mission. Maureen and Ifinally returned io Dawhan in Febniary 2025 afier almosifour yeais oul of Dawhan, lo begin the rebuilding our lives, speak hope lo the traumatized people of Jrob, but Ihe effeci ihe conflici left behind is very devaslating - man), young people ihai died in rhe war. some of oup" childi'eii iii the school lost iheirfathers iii ihe conflict, properlies worth niillions ofEihiopian Birr losf io looting by iheforeign soldiers, loss of houses as a resulz of erosion. refuse dumps, clogged drainages, all damagedgovernmeNt oifices are nolyel i"epaii'ed and nol in use. li is sad io nole that the youths iii Dawhan arefound playing cards or drinking Page 9 of 26
locally brewed alcohol duriilg the day- Isuppose, out offiiistratioii, despair and hopelessness. li is woith io note that ihere is slill conflict within the Tigi"ay Region. The cost of living is very high and ihe people only rely on chai"ity. Even thougli we slay in our Convent, Ihe repairs of damaged broke17 doors and windows are being carried out stage by stage while we only piirchase whatever is needed al each poiiit. Therefore. on behalf of Dawhan Community in Ethiopia, J wanl lo appreciale all ihe siipport we have been enjoyingfrom all ofyou in ihe English Community despite youi".few numbers but Ve large hearls in assisting us. We are also thankfulforyourprayei"s andgood wishes loward VOLUNTEERING Throughout the year the sisters give time and energy to carrying out the charl5 objectives on a voluntary basis for the benefit of the public. Some members in their governance roles are involved in administering the work of the charity, which would otherwise not be able to function as effectively as it does. Considerable time has been spent in the care of the elderly, in listening to those in need and in general parish activities; substantial effort has been invested in the public arena through the variety of organizations in which the sisters are engaged, while large contributions have been made to global humanitarian aid. The hours of voluntary work involved constitute direct benefit to the general public. GOVERNANCE, STRUCTURE AND MANAGEMENT The Institute began its work in England in 1912. Currently Sisters are engaged in ministries in the Brighton and Greater London areas. The work of the Institute in England is ultimately the responsibility of the Central Leadership Team ICLT) in Dublin. The English Mission is a Community of the Institute linked with CLT and has autonomy in running its day-to-day affairs. This annual report with its accompanying financial statements refers to the English Mission of the Sisters of St. Louis CIO, registered as a Charitable Incorporated Organization with the Charity Commission. Trustees are appointed by the Central Leadership Team {CLT) for a specified period of time. The current tru5tee5 consist of three members, one of whom, Margaret Healy. was a member of the English Mission and currently acts as Treasurer, while the other two trustees are members of CLT. On 25 August 2024, Mary Moran SSL and Philomena Morris SSL terminated their trusteeship, while Margaret Healy SSL and Augustina Agyirey-Kwakye SSL renewed their membership for a period of three years; Patricia Ojo SSL also became a trustee until August 2027. All the trustees, being members of the Institute, are conversant with the life and mission of the Institute, with the ministries and work of the English Mission and the overall issues that it faces. As members of the Institute their living and personal cost5 are borne by the charity but they receive no remuneration for their services as trustees. Their training is ongoing through reading, consultation and attendance at organized events, mainly by zoom orwebinar. The information and expertise gained is shared with the Leader and the members, when appropriate, 50 that all are aware of their legal obligations. Page 10 of 26
The trustees are ultimately responsible for the policies, activities and assets of the charitv. Besides being in contact by telephone and email, they meet regularly, more often by 200m, to review developments With regard to the charity and its activities and to make decisions. Minutes are taken at all meetings and 3 COPY 15 sent to the Central Leadership Team and to the Community Leader. When necessary, the trustees seek advice and support from other members of the Central Leadership Team, as well as from the charitvs professional advisers including accountants, investment managers, property consultants, solicitors, insurance brokers and artuaries. A contract for services to act as Accounts Manager and Administrator of the CIO has been agreed with Sangeeta Rabheru. PROFILES AND RESPONSIBILITIES OF THE TRUSTEES Above.. Sangeeta Rabhcru. Accounts Manager & Athninistrator for the CIO $.. *4 Lefi.. Trustees, Augustina Agyirey-Kwakye SSL, Margaret Healy SSL (Treasurer), Patricia Ojo SSL Au8UStina Agyirey-Kwakya SSL: Central Leadership Team Member Augustina Agyirey-Kwakye made her profession of vows as a sister of St. Louis in September 1985 and final vows 1993. She obtained a Bachelor of Education in Social Studies and diploma in Economic5 in 1994. She taught Social Studies and Christian Religious education in St. Louis Senior High School. Kumasi, from 1994-2006. During this period, she assisted students to read in the church and wa5 a school counsellor and a member of the School's Disciplinary Committee. While teaching, she was elected Regional Treasurer for the Sisters of St Louis, Ghana, from 1998-2004. She then undertook a two month's course in Budgeting and Financial Management to enable her operate effectively in this role. From 2002- 2004, she pursued a Master of Public Administration at the Ghana Institute of Management and Public Administration (GIMPAI. In 2006-2010 she worked in an administrative capacity at The National Catholic Secretariat to set up a travel office for the Ghana Bishops Conference. Page 11 of 26
From August 2010 - August 2012, she studied for a Master of Science in Education at the Duquesne University in Pittsburgh, Pennsylvania, USA. She returned to Ghana in September 2012 and worked in St Louis Jubilee School as headmistress till December 2021. She has taken part in capacity building workshops organized by the Sisters of St Louis in Strategic Management and Documentation. She was elected to the Central Leadership Team of the Sisters of Saint Louis in October 2021 for a term of six years ending October 2027. Margaret Healy SSL, Treasurer Margaret Healy SSL has been a member of the Institute of St. Louis since 1964 and she is an experienced leader. She served on the English Regional Team for nine year5 from 1986 to 1995 and on the Central Leadership Team from 1997 to 2003. She was invited by the English Region to take on the role of Regional Leader in August 2004. She ha5 participated in trustee training days and in days organized by the Conference of Religious and JPIC Links Group. Following a General Chapter of the Institute, she was again elected on the Central Leadership Team from October 2009 until August 2015. She is currently a Trustee in the CIO of the English Community and also its treasurer. Margaret He31y co-founded a number of organizations including the Commission for Filipino Migrant Workers, Waling-waling, Kalayaan, Bahay Kubo la Philippine Housing Association) and Justice for Domestic Workers. Margaret is still availa ble for advice and guidance with Waling-waling since 2018 when the organization was re- established to support migrant domestic workers coming to the UK following the removal of the domestic worker visa in 2012. In 2017118, she was involved in the preparations and proceedings of the London Hearing of the Permanent People's Tribunal {PPT). She is still actively engaged at UK and European level with the ongoing work of the PPT through Zoom and on WhatsApp. Having completed courses in employment law, Margaret also helped 35 a volunteer with Unite the Union on Monday afternoons giving free advice to hotel, restaurant, bar staff and migrant worker5; and represented them at their workplace in disciplinary and grievance hearings until she retired from this work in 2020. Patricia Ojo SSL: Institute Leader and Central Team Leadership Member Patricia Ojo joined the Sisters of St. Louis, Nigeria in 1976. After acquiring a science degree, she taught Chemistry and Mathematics in High School. Between 1990 and 1998, she participated in Leadership and Formation programs both in Ireland and Nigeria which qualified her to take up the post of Directress of Formation in the Province of Nigeria for a period of six years. During this period, she also engaged in v3rious short training programs in Development and Management and these skills continue to be of much benefit in her daily experiences. In 2001, she served as an elementary School Principal before being elected to the Leadership Team for the Sisters of St. Louis, Nigeria Province in 2003. She served in this capacity as the Provincial Leader for eight years. While in this role, she also served as a member of the Leadership Team of the Conference of Major Superiors in Nigeria. Patricia took time off for a sabbatical in 2012 during which she gained a Master's degree in Pastoral and Mental Health Counseling from Fordham University in New York. Prior to her election on the Central Leadership Team of the Sisters of St. Louis in 2015, she worked with women victims of domestic violence and human trafficking in the New York area. During the General Chapter of 2021, and at the completion of her mandate of six years, she was re-elected on the Central Leadership Team as the Institute Leader until 2027, Page 12 of 26
MAIN RESPONSIBILITIES OF TRUSTEES To comply with the law and the charity's governing documents and to ensure that the charity is carrying out its purposes for public benef it; To act with reasonable ca re and skil l in the charity's best interests; To manage the charity's resources responsibly and ensure that the charity is accountable. RESPONSIBILITIES WITH REGARD TO THE FINANCIAL STATEMENTS Under Charity Law, the trustees are responsible for preparing the Trustees, Annual Report and financial statements for each financial year. These show a true and fair view of the state of affairs of the charity. In preparing these financial statements, generally accepted accounting practice necessitates that the trustees: Select suitable accounting policies and apply them consistently; Make judgements and estimates that are reasonable and prudent; State whether the recommendations of the Statement of Recommended Practice have been followed, subject to any material departures disclosed and explained in the financial statements,. Prepare financial statements on a going-concern basis unless it is inappropriate to presume the charity will continue its activities. The trustees are required to act in accordance with the Constitution of the CIO, and policies and procedures of the Institute, within the framework of Charities (SORP). Trustees are responsible for keeping proper accounting records, with reasonable accuracy, sufficient to disclose the financial position of the charity at that time. Trustees are to ensure, where any financial statements are prepared by them under section 13211) of the Charities Act 2011, those financial statements comply with the requirements of regulations under that provision. They have general responsibility for taking such steps as are reasonable to them, in order to safeguard the assets of the charity; to prevent and protect from fraud and other irregularities. RESERVES POLICY The Charity seeks to maintain reserves at a level which allows it to fund the work and ministries of the sisters. At trustees, meetings the policy is discussed and reviewed in light of financial advice received, and of the global financial 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 sister5 in retirement, old age or ill health. INVESTMENT POLICY The charity holds two investment portfolios which are managed by Charles Stanley & Company Limited and Brewin Dolphin Ltd. The brokers operate within specific guidelines and ethical criteria set by the trustees and these are revisited and examined on an ongoing basis. Page 13 of26
The trustees review the performance of the portfolios and the charity's investment strategy at regular intervals and take appropriate action. RISK MANAGEMENT In line with the requirements for trustees to undertake a risk assessment exercise and give an account of this in their annual report, the trustees have looked at the risks the Institute faces in England and have reviewed the measures already in place to deal with them. The trustees have identified four main areas where risks may occur: Governance and Management looks at the risk to the Institute or charity of lack of direction or care or management skills; or of inappropriate use of resources. Operational considers the risk to the charity of engagement in inappropriate activities by its membership, difficulties with staff, unsuitable or poorly maintained buildings, inadequate Health & Safety or disaster recovery policies. Financial reviews the risks arising for the charity as a result of diminishing income, fraud 3nd inappropriate investment policies. Environmental, external and compliance looks at the effects for the charity of an ageing membership, adverse publicity, non-compliance with 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 to constitutions, Chapter documents, Institute policies and charitv objects; by ensuring that controls exist over key financial systems,. and by examining the operational, legal, safeguarding and other risks faced by the charity, they have established systems and safeguards to mitigate those risks. PROTECTION OF CHILDREN AND VULNERABLE ADULTS The trustees recognize the absolute necessity of ensuring the protection of all those the charity serves. The charity takes seriously a One-church Approach and works in compliance with the guidelines of the Catholic Safeguarding Standards Agency (CSSA}; the trustees are committed to implementing and carrying out all their policies and procedures. The charity is aligned with the Religious Life Safeguarding Service (RLSSI which assists with advice, training and administration of safeguarding matters. Where necessary, Disclosure and Barring Services Certificates of sisters and staff have been updated. The CSSA was informed by the Community Leader of the withdrawal of all the Sisters of St. Louis from England by September 2024. PUBLIC BENEFIT The trustees have consulted the guidance made available by the Charity Commission for England and Wales on the Public Benefit requirement of the Charities Act 2022. They are confident that they have complied with their duty under the relevant section of the Charities PagFe 14 of 26
Act 2022 in that they have had due regard to public benefit guidance published by the Commission. The trustees have given details of the activities and achievements of the sisters in previous paragraphs which indicate the seriousness with which they adhere to this guidance. These works include caring for the elderly and infirm within the Mission; the provision of spiritual, educational, social and pastoral ministry within local communities. They also include charitable donations to the Institute's overseas mission and leadership projects, and donations to non-government funded charities in the UK, that come within the remit of the St Louis Mission Statement. FINANCIAL REVIEW Total income at £153,655 showed a decrease on the previous year, as 'Sa13ries stipends and pensions, income went down by £61,552 and the investment income went down by £51,171. Total expenditure at £263,137 showed a decrease on the previous year. The donations and missions went down by £3,807,947. Although the expenditure exceeded income by £109,482 the trustees are satisfied that the CIO can meet its obligations to the members of the Order for the foreseeable future 35 the investments are sufficient to keep the CIO as a going concern. FUTURE VISION The trustees will work in cooperation with CLT to see that the directions of the General Chapter 2021 are implemented as required. They will continue to follow the schedule originally outlined in the charity's Strategic Plan with regard to the disposal of property surplus to requirement and the seeking of professional advice about patrimony. The members, all of whom have now returned to Ireland, are being supported in this transition according to the requirements of their age and state of health; although no longer resident in England, some remain engaged with or connected to former ministries and colleagues. The trustees and membership of the English Mission wish to thank Mr. Jurek Borucki, Auditor, for his long service to the charity which he undertook with great thoroughness and integrity; and they wish him many years of happy retirement. The trustees look forward to working with his successor, Mr. Denver Dias, in the coming years. As part of their commitment to the U.K., the Trustee5 have decided that they will offer donations annually, as previously, to small U.K. organizations that fall under the remit of the St. Louis Mission Statement. The investments with Charles Stanley and Brewin Dolphin will remain and be managed in the UK. The Trustees will return annually to meet with the Investment Managers and the Auditor. Throughout the year, quarterly online zoom meetings are held with Sangeeta Rabheru {Sandyl. The trustees are confident that the finances of the CIO are in a healthy condition as the Auditor's financial report shows. Page 15 of 26
EMPLOYEES AND MEMBERS OF THE INSTITUTE TheTrusteeswish to record their recognition of the professionalism and commitment of their staff, service providers and the individual members of the Institute. Their dedication and positive approach are very mijch appreciated. Approved by the Trustees and signed on their behalf Margaret Healy SSL Trustee Approved by the Trustee5 on.. 30", 0? lols-. Page 16 of 26
The Et)glish Mission of Ihe Sisler5 vf Si. Louis CIO Independent Auditors, Repvrt Independent auditors. report to the Trustees of the English Misslon of the Sisters of St Louis We have audited the financial statements of English Mission of the Sisters of Sl. Louis Ilhe 'charity'} for the year ended 31 March 2025 which comprise the Slalement of Financial Activities, the Balance Sheet, and notes to the financial slalements. including a summary of significant accounting policies. The financial reporting framework Ihat has been applied in their preparation is applicable law and Uniled Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the Gharity's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordan¢e with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Inlernational Standards on Auditing {(UK) (ISAS {UKJ) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements thal are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriale to provide a basis for our opinion Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have nol 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 Iwelve months from when the financial statemenls 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 Infomiation The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on Ihe financial slatements does not cover the other information and, except to the extent otherwise explicitly slated 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 rinancial statements or our knowledge oblained in the audit or olherwise appears lo be malerially misstated. If we identify such material inconsislen¢ies or apparent material misstatements, we are required to determine whelher this gives rise lo a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing lo report in this regard. Page 17 of 26
The EnElisli Mission of the Sisters of St. Louis CIO Independent Audilibrs, Report Matters on which we are required to report by exception We have nothing to report in respect ofthe following matters where the Charities (Financial Slalemenls and Reports) Regulations 2008 requires us to report lo you if, in our opinion.. the information given in the Report of the Truslees is inconsistent in any material respect wilh the financial statements., or sufficient accounting records have nol been kept,. or the financial statements are not in agreement with the accounting records and reltjrns,. or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities. the Trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary lo enable the preparation of financial statements Ihat are free from material misstatemenl, whether due lo fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charily or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditors under Section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatemenl, whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is nol a guarantee that an audit conducted in accordance with ISAS (UK) will always delect 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 lo 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. oullined above, lo detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularilies, including fraud is delailed below- How the audil was considered capable of detecting irregularities including fraud Our approach to identifying and assessing ihe risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows.. • the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognize non-compliance with applicable laws and regulations; we identified the laws and regulations applicable to the Charity through discussions wilh management and trustees. and from our knowledge and experience of the Charity sector., we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the activilies of the charity. These included but were not limited lo the Charities Act 2011, Accounting and Reporting by Charities-. Statement of Recommended Practice applicable lo charities preparing their financial statements in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland IFRS 102) {effective 1 January 2019)-, and Safeguarding Regulations as they affect the direcl charitable activities of the charity., and we assessed the extent of Compliance with the laws and regulations identified above Ihrough making enquiries of management and those charged with governance and reviewed minutes of Trustees. meetings. Page 18 of 26
The English .Mi$4ion the Sisters of Sl. L(iuis CIO Indepcndt'nt Auditors. Reporl We assessed the susceplibilily of the Charily's financial slalements lo material misslalement, including obtaining an understanding of how fraud might occur, by: making enquiries of management and Iruslees as lo where they considered there was susceptibilily lo fraud, their knowledge of actual, suspected and alleged fraud., and considering the inlernal controls in place lo mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we.. performed analytical procedures lo identify any unusual or unexpected relationships-, tesled and reviewed journal entries lo identify unusual transactions., lesled the aulhorizalion of expenditure. assessed whelherjudgements and assumptions made in determining the accounting estimates were indicative of potential bias.. and investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations. we designed procedures which included, bLtt were not limited to.. agreeing financial stalemenl disclosures lo underlying supporling documentation. reading ihe minutes of meetings of trustees-, and enquiring of management and trustees as lo actual and potential liligalion and Glaims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely il is that.we would become aware of non- compliance. Auditing standards also limit the audit procedures required lo idenlify non-compliance wilh laws and regulations lo enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder lo delect than those Ihat arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial s181ements is located on the Financial Reporting Council's website al www.frc.org.uklaudilorsresponsibilities. This description forms part of our Report of the Independent Auditors. Use of report This report is made solely to the charity's truslees, as a body, in accordance with Part4 of the Charities (Financial Slatemenls and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's Irustees those matters we are required to stale 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 responsibilily to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Den enior Slalutory Auditor) For and on behalf of Williams Chartered Accountants Statutory Auditors Jade House 67 Park Royal Road London NVV10 7JJ Dale.. 30 July 2025 Williams Chartered Accountants is eligible lo acl as auditor in terms of Section 1212 of the Companies Act 2006 Page 19 of 26
The English Mission of the Sisters of St. Louis CIO Staternenl of financial activities (incorporating an income and expenditure account) for the year ended 31 March 2025 General rlld De$lEnted fund General De$l¥n4ted fund Not 2025 2024 Incomlng resour¢es Voluntsrv iD¢ome: Salaries slipends and pensii)ns A¢tivitles for %tnerting funds: Investment income Mi$¢elln¢ou$ Intome Miscellaneous 41,851 41,851 103,403 103.403 48,302 63,351 111,653 162,824 110,216 52,608 2,087 2.087 Tot&1 In¢•me 90 04 51 153,655 268 14 Expend5tsr¢ A Rlilkng funds Investment manag¢rs fees Cbrfi¥ble ietlvtt5es: Chrltblt Aftlvltles Upkeep of communities Donations and missions Governance costs 10.678 14,519 25,197 22,265 9.691 12.574 177,411 43.054 15,230 235.695 2345 179,656 43.054 15.230 237.940 168,751 3,851,001 13.940 4.033,692 168.751 3,851.001 13.940 4,033,692 2245 Total expeTrdlre 246 73 16,764 4 1155 957 83 12 74 In¢omlng ruourtes lell expendlth 11 56.069) 46,587 (109,482) {3,787.643) (3,827.677) 40.034 Net galnslOMses} Invtttmethts 13,007 16.285 29292 114,376 88.565 25.811 Surplusl(Dellell) ots Ml¢ of $sets (15253) 698,706 683,453 8.885 8,885 N¢t income (expettditurt) (158,315) 761.578 603,263 (3,664.382) (3.730,227) 65,845 Tr•n$fers between funds Ntt movement In 716,101 557.780 716 101 45.477 603263 (3.664.382) (3.730227) 65.845 Reeonciligtlon of funds Totsl funds brougbi fonvard Transferred from The Institute of Th¢ Sislers of Si Louis Juilly-monaghan Totsl fijnds carried fonvard .760.733 2,393.398 4.154,131 7.818.513 5.490,960 2.327.553 2J18519 2,43875 4.757J94 4,154,131 1,760,733 2J93J98 The siat¢ment of financial activitie5 includes all ¥ain$ ¥nd losses in lh¢ y¢aT. All incoming resources and resour¢¢$ cxpended deriv¢ from continuing a]vitIeS Page 20 of 26
ThL, fiigli.%h fiiissioii of thc Sisters uf .St. Louis C'IO Balancc.Sheet s at 31 March 2025 Noles 2025 2024 Fixed assets TangFible assets Investh)ents at market value 110.012 4,454,021 4,564,033 892,746 3.041 ?07 3.933.953 10 Current assets Debtors Cash al bank and in hand 10,104 224 356 234,460 205.372 205,-372 C.'reditors: amounts falling due witbiD one year 12 (12.011) (14,282) Ne¢ curreDt assets 193,361 220,178 4.757 394 4,154,131 Capital Jnd reserves Unrestrieted funds: General funds Designaled funds 13 2.318,519 2,438.875 1.760,713 2.393,398 4,757 394 4 154,131 Approved by the Trustees and signed on their behalf Margaret Healy SSL Trustee Approved by ihe I'rustees on S o. 2015. Page 21 of 26
The English Mission of the Sisters of St. Louis CIO Notes to the Financi41 statements for ihe year ended 31 Marth 2025 l Accounting policies Aceounting convention The financial stalements have been Prepared undeT the historical cosl convention with items recognised at ¢0St or Iran5action value unless otherwise slated in the relevant note(s) to these financial statemenls. The Tst constitutes a public benefit entity as defmed by FRS 102. The Trustees consider thal there are no material uncertainties about Ihe Trusi's ability lo continue as a going concern. The financial statemenls have been prepared in accordance with the relevant version of th¢ Statement of Recommended Practi¢¢ applicable to charities preparing their financial statements in a¢¢ordance with the Finan¢ial Reporting Siandard applicable in the UK and Republic of Ireland {FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial atements have been prepared to give a 'true and fair. vicw and hav¢ departed from the Charities (Financial Statemenis and Reports) Regulations 2008 only to the extent required lo provide a 'lrue and fair view. This departur¢ has involved following Ihe relevant version of the Statement of Recommended Practice applicable lo charittes preparing their financial statements in accordance wlth the Fin8n¢ial Reponing Standard applicable in UK and Republic of Ireland (FRS 102) rather than the AccouDting and Reporting by CharRties'. Ststement of Recommended Practice effective from l April 2005 which has since be¢n withdTawT. Income All income is recognised once Ihe Charity has entitlement to the income, it is probable Ihal the income wtll be received, and the amount of incorne receivable can be measured reliably. Donations are recognised when the Tru51 has been notified in lling of both the amounl and settlement datc. Legacies gre recognised on a case-by-c&se basis following Ihc granting of probate when the administratorlexecutor for the Estate has communicated in writing boih the amount and sertlemcnl date. Interest on fijnds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is nornially upon notifiealion of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared. and notification has been received of the dividend due. This is nonnally upon notificatlon by our inveslment advisoT of the dividend yield in the investment portfolio. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constrnctive obligaiion committing ihe Charity to ihat expendilure, il is probable that settlement will be required. and the amounl of the obligation can b¢ measured Teliably. The cost of generating funds includes the fees paid io inveslment manager% in respect of the management of the Charity's investment portfolios. Expenditure on Charitable activities comprises direct expenses inCu¢d on the defined charitable purposes of the Charity and includes staff costs atlributable to the activity. The Contribution to the Generalate is calculated annually and represents the excess of the budgeted net expenditure for the year over the fr¢e reserve al the end of ihe previous year. as adjusted for the purchase or sale of land and buildings. Admini51Tation cost5 comprise expendilure on compliance wilh and advice on constitutional and statutory matters. As all expendihlre can be attributed to specifi¢ categories no apportionmenl between heading has been necessary. Irrecoverable VAT is included in the items of expenditure to which it relates. Foreign currencies Transactions in foreign currencies are recorded al the rate ruling at thc dale of the transaction. Monetary assets and liabilities denomingled in fOl8n currencies are translatd al the rate of exchange Tuling at the balance sheet date. All differences are taken to the profit and loss account. Tangible fixed assets All assets cosling more than £50(> and with an expected life of more than one year are capitalized. Deprecialion is provided lo wrile off the cost OT valuation less the residual value of langible fixed assets by equal instalmenls over Iheir estimated useful economic lives as follows.. Building 20/0 on cost. Plant, equipmenl. fixtUTe5 and fittings 2/0 or 250/0 on cost. Motor vchicles 250/0 on written down value. Page 22 of 26
The English Mission of the Sisters of St. Louis CIO Notes to the Financial statements for the year ended 31 March 2025 After five years plant, equipment, fixtures and fittings with a nel book value of nil are written out of the financial statements as in the opinion of the Trustees such assets have a negligible residual value. Freehold land and buildings, in the main used as private residential accommodation, are included at a valuation based either on a valLte estimated by the trustees or on historical cost. The TNslees do not consider ihal the expense of a professional valuation in order lo ascertain the separate values of the land and buildings is justified. The buildings are in constsnt use in rthCranCe of the charitable obj¢clives and are maintained lo standards that ensure that their residual value is not less ihan the book value. Investments Investments are a forni of basic financial Anstrunienl and are initially recognised at Ihefftr trnnsaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted markel price. The statemenl of financial activities includes the nel gains and losses arising on revalualion and disposals throughoui the year. The Trust does not acquire Pul Options, Derivatives or other complex financial instruments. The main fomi of financial risk faced by the Charity is that of volatility in equity markets and investment markets due to wider economic condiiions. the attAde of inveslors lo investment risk, and changes in sentiment concerning equities and wiihin particular sectors or sub sectors. All gains and losses ar¢ taken to tbe Siatement of Financial Activities as they arise. Realised gains and losses on inveslmenls are calculated as the differ¢n¢e between sales proceeds 8nd their opening carrying value or Iheir purchase value if acquired subsequent lo the first day of the financial year. Unrealised gain5 and losses are calculated as the difference between the fair value at the year end and their carying v8lu¢. Realised and unrealised investment gains and losses are ¢ombined in the Statement of Financial Activities. Fund 4ccovnting The general fund comprises Ih05c monies, which may be used lowaTds meetlng the charitable obje¢tives of the Charity at the discretion of the TTUStees. The designaled ndS are monies set aside out of general funds and designated for specific purposes by the Trustees. The restricted funds are monies raised for, and their use restricted ¢0, a specific purpose, or donaiions subjecl lo donorimposed conditions. Taxatlon The English Mission of the Sisters of Si. Louis CIO is considered to pass the iests sel out in Pardgraph I Schedule 6 Finance Act 2010 and therefore it meets ihe definition of a Charilable Trust for UK income tax PUTposes. Accordingly. the Charity is potential ly exempt from taxation in respect of income or capilal gains ieceived within categories covered by Part l O Income Tax Act 2007 or Se¢tion 256 of the Taxaiion ofchargeable Gatns Act 1992. 10 the extent ihat such income or gains are applied exclusively to charitable purposes. 2 S*larles and pension5 of members General Designated fund Fund General Designated fund fund 2025 2024 Pensions 103.403 103,403 103,403 103,403 41.851 41,851 The salaries and pensions are the earned income of the Members of the Order who have donat¢d it, under gift-aid, to trust. 3 Investment Inrome General fund Designated fund General Designated fund fund 2025 2024 Dividends and interest from inveslments Bank and other interest Rents 46.372 1.926 63,351 109.723 .926 95,503 66,512 809 162,824 42,895 66,512 809 10.216 52,608 48,302 63.351 111653 Page 23 of 26
The English Mission of the Sisters of St. Louis CIO Notes to the FinantKg1 stalements for the year ended 31 Mareh 2025 4 Activltles in furtherante of the charity'5 objectlves Gtneral fund Deslgnated fund General fund Designated fund 2025 2024 Upkeep of con)munlil¢s Staff costs Premises Community and personal Administration 1.750 31,665 132,757 11,239 177411 ,750 33,910 132,757 1,239 179.656 2.393 56,620 102,098 7,640 168 751 2.393 56,620 102,098 7.640 168 751 2.245 2,245 S Govern2nce eo$ts Gener1 fund Designated rund General Designated fund fund 2025 2024 Audit fees Accountancy fees Solicitors, fees 5,160 3.600 5,160 3,600 5,850 7.020 5.850 7.020 1.070 13.940 15,230 15,230 13.940 6 Net incomEng (outgoing) rewurces before transfers This 15 Stated after charging (crcditing) General fund Design¢ed fund General DesignAted fund fund 2025 2024 Staff Costs Auditors. remuneration Accounting and other DepTeciation 1,750 5.160 3,600 .750 5.160 3,600 2,245 2,393 5,850 7.020 11.783 2,393 5,850 7,020 11.783 2.245 Staff costs and tru$lees' remuneratlon 2025 2024 Staff costs during the year were as follows- Wages and salaries Social security cosls .750 2,393 No employee earned more than £60,000 per annum (including benefits) during the year or in ihe previous year. No trnsiee received any remuneration or 1MbU[scMenI of expenses in respect of services as a Iste¢ during the year or in the previous year. The living expenses of all members of Ihe Order, including Trustees, resident in England are paid from ihe funds of the charity. The iver#ge number of employees. #nalyzed by funttion wa$: Nursing and dornestic 8 Taxation The CIO, as a regislered charity, is exempt from laxation on its income and gains falling wiihin Section 505 of the Taxes Aci 1988 or Seeiion 256 of ihe Taxation of Chargeable Gains Act 1992 10 the extent that they are applied to its charitable objeclives. No tax charge has arisen in Ihe year. Page 24 of 26
The English Mission of the Sisters of St. Louis CIO Note5 to the Financial statements for the year ended 31 March 2025 9 T4ngible fixed assets Furniture and equipment Freebold land xnd buildings Motor vehicles Tolal Cost Ai l April 2024 Additions Disposals At 31 March 2025 856,494 60.525 917.019 (744.237 112,257 60,525 804.762 112257 Furnlthre and equipment Freehold land 4nd bulldlngs Motor vehl¢les Total Depreciation At l April 2024 Charge for the year On disposals At 31 March 2025 24,273 24.273 2,245 2.245 2.245 2.245 Net l>ook value Ai 31 Nlarch 2025 At 31 March 2024 110012 856,494 110.012 892,746 10 Investments 2025 2024 Ll$ted Investment$ Market value l April Additions at cost Sale proceeds from disposals and transfer5 Net movement in year Market value at 31 March 2025 Cash hcld by Investment Manager for re-investment Deposit in Oikocredit Capital Account 2.882.525 2.739,685 .553,473 659.589 (543,237) (631,125) 37.964 114.376 3,930,725 2,882,525 411,296 47.238 112,(KlO 4.454,021 3,041.207 Cost of listed investments al 31 March 2025 4 023 174 2 726 888 1 l Debtors 2025 2024 Sundry debtors 10,104 10.104 12 Credltors: Amounts falllhg due wlthin one ye4r 2025 2024 Patrimony and dowry Sundry creditors Accruals 2.062 949 9,1)00 12,011 2,062 220 12.01i0 14.282 Page 25 of 26
The English Mission of the Sisters of St. Louis CIO Notes to the Fin2ncial 5t4tements for the ye¥r ended 31 Mareh 2025 13 Deslgnated funds The income funds of the Charity include designated funds, sel asid¢ from the unreslricted fvnds of the Trust by the Tste¢S for specific pun)oses. The designaied fund represents the book value of land and building5 owned by the Charity i.e.. Capitsl Fund and Jnveslments with Charles Stanely i.e., Care Fund. The Ir4nsfer during the year was due lo sale of Land & Buildings. the depreeialion charged on Land & Buildings, and investments made wiih Charles Stanley. At l April 2024 Intoming Utlllzedl realtsed At 3] Marth 2025 TrAnsfers Care Fund Capital fund 1.536,902 856.496 2 393 398 726,844 (1,442.945) 716 101 79.636 698,706 778 342 (14.519) {2,245) 2,328.863 110,012 2 438 875 14 Analysis of net assets between funds Gentral fund Designated funds 2025 Tangible fixed assets Other Investments Current assets CreditOTS- amounts falling due within one year 110,012 2,330.530 2.123.491 205.372 110.012 4,454.021 205.372 2,318.519 2,438.875 4.757.394 15 Comparatlves Some of the comparatives have been to conforni lo Cent y¢ar's presentstion. Page 26 of 26