THE CONCREC.ATION OFTHE SISTERS OF ST MARY OF NAMUR CIO {Registered Cliarity Number 11780921 TRUSTEES, REPORT AND ACCOUNTS 30 SEPTEMBER 2025 THI CONGRECATION OF THI4 SESTCIRS OF ST MARY OF NAMUR CIO FOR THE YEAR ENDl¢D 30 SBPTMBER 21J25 CONTENTS Report5 Reference and administrative details of the chai'ity. its trustees and advisers Trustees. report 2-21 Independent auditor's report 22-25 Ae£ounts Statement of financial activities 26 Balance sheet 27 Statement of cash flows 28-29 Principal accounting policies 30-34 Note5 to the accounts TI4L CONGREGATION OF TFIE SISTERS OF ST MARY OF NAMUR CIO FOR THE YEAR EiYDED 30 SkPTMBER2025 REFERENCE AND ADMINISTRATIVE DETAILS Trustc¢s Ststcy Moira Me¢ghan Sister l.nui5e Swdtiston Si5(ei' Doreen Bradley Sister Bridgel Folkard RegionAI Leader Siskr Moird Meeghan Region*1 Bur59r Sister Dorcen Bradley RegionAI Setvetary Sistei. Louisc Sw8nston Princip%1 office 25 Huyton Church Ro&d LIv￿.pool L365SH Telephone ￿ll￿]her 01514899188 GovrrAing In5trnment CIO Absociation registered 25 April 20IS ckai.lty Regk%tr4tion NuTTrber Ini ngl8n(J and WAIes) 1178092 Accollntan15 Mrs T¢resa Lloyd Clark Accounting Limited 1st Floor chU￿h House 61 College Road Bromley BRI 3QG Auditor Mitchell Charleswoyth {Auditl Limited 14th 1-.loor The Plaza 100 Old 14all Street Livei'pool Mer5eyside L3 9QJ Pi'in¢ipAI Bankers The Royal Bank of Scotland pl¢ 6th FIOOT I Pi'inces Slrect London EC2R 8BP Inve5tmertt Martagers Rathbone Investmettt Management Limited Port of Liveiwol Building Liverpool L3 INW Solicitors Ston¢ King I,T.P Lloundary House 91 Charttibouse Street l.ondon ECIM6HR THE CONGRECATION OFTHE SISTERS OFST MARY OF NAMUR CIO TRUSTEES, RLI PORT FOR THE YEAR ENDED 30 SEPTMBER 2025 SECTION I: INTRODUCTION Sisters of St MAry of Namur-Anhual Report October 2024- September 2025 The Sister5 of Si Mary of Namur in the United Kingdom fom a small but deeply committed religious community rooled in the chaTiSm of oui. founders, Dom Minsart and Mothei. Clatre uf Jesus. The Sistcrs of St Mary of Namur{SSMNI (the Congregation) is an international Roman CatholiGAposlolic Religious Congirgation Luri'ently comprising 325 si5teis worldwide, including 13 noviee5. The Sisters in Britain ale referiEd lo as the British Regfon {previously, Bi'itish Province). The Congregation was founded in 1819 in Namui., Belgiutn, where the mothei'house is still Iotrdled. For adrninistl?¢iv¢ reastsn5 thc Congregation is now divided into 3 Provinces and 5 Rcgions, &cr05s 9 eounti'ies. The accounts accornpanying this report are those of the charity which adtninisters the asse15 of the Congregation in England- namely? Sisters tsf St MAry ofNAmur, CIO. of NOn>ts SECTION 2: CHARISM AND MISSION The Sisters of St Mary of Namur have po55essed from the beginning ceit2in distinguishing feulures.. the foiThaii¢)n of communities of sisters who live in faith, hope and luve wilh fidelity tv prayer,. the choi¢e of simplicity in itll things., a prefeirnce foi. service atnong the underprivileged of the world and participation in the proclamation of the Gospel. The objectives of The Congregation of the Sisters of Sl Mary of Namur CIO dui'ing the period. as sei out in its governing document were educatiun, paslural care (including working iviih asylum seekers and trafficked people), faith development and spiritual a¢cotnpaniment. By cai'in8 for the individual members IhTOU8hout their lives within Ihe Congregation, the chai'ity aims to enable and support the sisters in living out their faith and berving other pwple, keepTng in mind boih the most urgent contemporary needs and prcsent capacities of the sisters. The Congregation has an obligation, both mor21 and legal, lo pix)vide care for ils meTnb¢rs, none of whom have resources ol'theiT oivn and all of whorn have devoted a significant parl of their live5 to leachTng and caring mini51ries. As the avei'age age of ihe sisters ittcreases, so too does the need to provTde spccialised and increasingly expensive caiE for them. At present. one sister 18 living in a IEsideniTal care home, and ive cxptct this number to incirase vvei. the comtng years. CO￿sequentIy, the Iru5tees are giving careful consideration to the irnpact of thi5 on the lives of the sist¢r5. property requiretnents and financial implications. In this regard, the objective8 vf the twstees of the charity over the cunEnl period are summari5ed bclow. All these objective5 ivill conlinuc lo be applicable for the fore5etable future. THE CONGREGATION OF THE SISTERS OF ST MARY OF NAMUR CIO TRUSTEES, REPORT {tontinuedl FOR THE YEAR ENDED 30 SEPTMBER 2025 SECTION 2: CHARISM AND MISSION (continued) It 15 itnporlani to cnsure that all membcrs of the region reeeive respectful comprehensive cai'e. Our new premises built 2018-2020 known locally as the 'Swanside Flouse, Is already enabling sistei's with mobilily issues lo remain al home, which help5 them ts) ktcp their independence. The house ha5 the Capacity to house nine si8ters lat the lime covered by this repoi'l five sistCl'S bclong lo thi5 COtnTnunityl. Thc Swanside house has a lift an(1 Iwo rooms with capacity tu acLommodate 51Ster5 Wlth more physical need5. The housc features a spacious mccling rootn designcd to accommodate large groups, thei'eby allowin8 senior rnembers to actively pailityipate in the colleclive minisiiy alongside all other rn¥mbers. 1111 There 15 another house in the Liverpool area. in Huyton. This house is known as the'Gatehou5e' The hDuse holds the Charity's main offiee and 15 the hub for thc management of the Charity as well as providing a base foi. the minislry of the sisters living in it lat the time covered by this report four sisters belong to this community). Two sisters live in Harrow at the time of this report and continue their work in education. parish iyork and catechesis. Thcy also work with womcn in ne¢(I, refugces and Ihose seeking a welLvme in thcir loneline5S. When setting the objeaives, plannsng th¢ work of the charity and encouraging the work of individual rnembers of the Congregation, the Iruslee5 give caTeful consideration to the Charity Commission's general guidance on public benetlt. The Tninislries of the 515teT5 of the British Kegion during thi5 period fell irtto thc following categories: • Worship and pr#yer The sisters of the Congregation are given the opportunity for privaie and communal prayer and worship. They are encouraged to continue Ihcii. own faiih and human development with appTopriale updating se55ivns. The 51s1er8 pray and refle¢1 wilh the wider comtnunity, including pevple of all faiths and none. This is reali5ed thrvugh the ministrie5 of welcomq hospitality> chaplaincy. spiriiual accornpanitntnl and retreat-giving. pai'ish lituigies and home visit8. Group5 meel regularly in different ¢ommunitics. foi. prayer, scripture study J failh lormation, spirituality and di5c¢rnment. At a time when other retreat houses are closing or are fin2ncially/log151ically inaccessible to tnany J this offering of space. kindness and learning has bccorne moTe urgent and sotnething we are still able to provide. Intei'faith and ecumenical dialogue and coopcration aTe encouraged, as IEfleGted in the composition ofihe dit'ferent group5. Our le8s mobile 51Ster5 have an invaluable ministry of prayer, listening and presence in a world where loneliness 15 one ollhe greate51 problems. THE CONGRI4GATION OF THE SISTERS OFST MARYOF NAMUR CIO TRUSTEES, REPORT leontinued} riOR THE YEIAR ENDED 30 SF.PTMBbR2025 SECTION 2: CHARtSM AND MISSION (continued} I ducAtion Edueatson is inli'insic to our various tnin15tries. One of Ihe sisters continues as Direcior of Lducarem, a organi5alion for Ongoing cducaiional Iiainin8 Ut'teachei3 and goveinors. Anotliei'works wilh th¢ Irenaeu5 project, a spirituality focu% foi. Ibe Archdiocese of Liveipool, delivering piyiw'ammes of lay initiation inio new pastoral responsibilities. Much of the groiip woi'k mentioned above also coniains a strong teaching el¥mcnt, as sevcral of thc sisters have a backg1D￿nd in education. • Soeial pastoral Ivork The Siste￿ have tlie prEvilege of being involved in different branches of pastorAI tninibtry. Thts includes proclaiming the Ivord of God, Euchai'istic minis(ry and leading liturgie5,' also woi'king in the field of calechesis and adult raith fortnation, giving i'Elreat days, visiting Ihe lonely and the dying. and being engaged in advoea and lvoi'k with refvgers and trafficked people. One Sisiei. piDvides singing opportunities for people living lylth dementia and theii. families as pail of our invDlvemcnt wilh Ihe Ircnaeus project and a￿othel. sist¢i' is chaplatn lo the poltce. The sisters, priority is to reach por)i', negle¢ied or marginalised peuplc in %ocitly whatevpi. their personal background, laiih> gender oi. individual cii'cuillslanL￿. Wh¥re visiting is not Possiblc, emails ur phone calls are a means of communication. From time to time, lettei's 8r¢ sent to Members of Payliament lo encourage just laNv-niakiiig on b¢half of rhe pour and maiEinalised. • Ovtrs¢45 mission#ry work The three ProviRce5 01-our Congregation in the 50ulhern hemisph¢ie have been established Since 201X). Since then, they have been ad]ninisti?tiv¢ly indq>elldent and thriving in terms af membciship, while relying lo a layge extent on the finan¢ial support of Ihe Noi'ih¢rn Regions and othtr chai'ilabl¢ organisaliong to help them with school maintenance, building projects, coll¢g¢5, clinics and arphanages. Progress 15 being maintained in leaching and fa¢ilitrdting finance management and aulo-financing pl￿jec{s. The British Region has ￿lItInUed ea¢h year to fund university 8iudies for si$ieYs ivho are prepai'ing eithci. to ILach Dr to manage s¢lf-suppoitinE iniiialives. partic.ulai'ly in a8ri¢ulture, small t￿￿1￿￿. and handicralls. The retun) of sorne British sisters fTom our missions en&bled us to make even slilinger links with the eointnunilies in our missionary provinces of Brazil. Rw*nd&, Tan￿nIa, the DemociHti¢ Rcpubli¢ of Congo and C8meroon. Since the pandemic. there ha5 been a strong emphas￿5 On d¢Ve￿op1n8 comtnunications beiiveen counti'ies, and the Slsters al'e suppoiting each olhei. in learning the language of other regions and provinces. A group of our oldcr sister5 here in Britain has made sirong links with the younger s15ters of Cameroon. They shal'e Iheir lift exp￿rienceS an(1 how Religious life was lived in the Past. Fundraising Compliance The Chsrity does not engage in publi¢ lundrai5ing or use professional fllndrdising agencies, and receivth no complaints related to fundraising aclivities dui'ing the year. THE COIYCREGATION OFTHE SISTERS OF ST MARY OF NAMUR CIO TRUSTEI CS> REPORT Icothtinuedl FOR THE YEAR ENDED 30 SEPTMBER 2025 SECTION 3.. KEY ACHIEVEMENTS AND PERFORMANCE Here are sorne rninistry experiences of the Sisters, both locally and intemationally, frotn this period. The Ministry of a¢cotnp#rtimtnt Roi)led in our life of prayer. cotnrnunity, and rnis5ion, it is a way in which l am able to share thc gifl vf atlcnlive listening and discernment. SpiTltual accoinwdniment is a confidenlial, retiective. aDd praycrful companionship in which individuals are suppoiled a5 they atlcnd to the presente and movement ofGod in their lives. My Tole is not io instruct oi. to solvc problems, bul lo create a 8afc, attentive 8pacc where pcople can explore Ihcii'relalionship with God, deepen thcir spiritual practlCe5. and disccim the invitation5 emerging in their daily living. This woi'k includes: Regular one-to-one sessiolls (u5u#lly monthly) where illdividuals can speak openly about their spiritual experiences, questions. atid ch#llenEes. Attentive listening rooted in ¢ompassion. PTayerfullles5. and i'espect for each person'5 unique joumey. Disccrnment support. helping individua15 notice where Go(1 may be Itading, especially during times of transltiun, decision-makingj or difficuliy. Encouragement of spiritual di%ciplines, suth as prayer, silence, Scripture engagerneni, and refleG¢ive practices, suited to each person's Iraditiort 2nd temp¢i'amenl. Confidentiality and safeguarding, ensuring a profe5sion21 and ethi¢al framewoTk that honours trust and prote¢ls wellbeing. How People Benefit.. Those who engage in spiritual a¢companiment often report.. Giealer clai'ity and peace in their relationship with God. A deeper sense ofmeaning, purpose, and grounding in daily life. Incrcased r¢5ilience and hope, particularly during periods of grief, stre55, or uncertainty. Rencwed comrnitment to th¢￿T ¢alling, ministry or service wilhin the cornmunity. A sense of be￿ng truly heaiNI and a¢companied, often leading lo personal and spiritual growth. Spii'itual accotnpaniment ultirnaiely helps people become more attentive to the sacred within and around them, strengthenillg bolh their inner life and theiT oulward expTession of faith. In a time when many experience fi'agmenlation, pressure, oi. spiritual dryness, the ministry ofspiritual J¢¢ompanirnent offers a stabili5ingJ lile-giving resource. It support5 th¢ emotional. SPlTltual, and vo¢ational health of individua15, which in turn enriches the wider community and people have access to 8 skilled, prayerfijl companion on their joumey with God. Sr. Joan Marshall THE CONGRECATION OF THE SISTERS OF ST MARY OF NAMUR CIO TRUSTEES. REPORT Icontinutd} FOR THE YEAR ENDED 30 SEPTMBER 2025 SEICTION 3- KEY ACHIEVEMENTS AND PERFORMANCE Iconlinuedl 'Widening circles. of friends Wlth the Collgregation of the Sisters of St Mttry Of Namur CIO .. Liverpool 2025 In times when lay commilments lo Religious Congregatiotts have becorne difficullj partly beeauseof oui'owrt aging, but albo because Ihuse conne¢l¢d ivith us are inciEa8ingly involved in thc Laie of parents. siblings, childrcn 2nd involved grandchildren, we iEalised 'li8hia' structures, weir necessary foi. us. We moved gently trom having 'Associates' to wider groups of friends and collaEoidlur5 in the rnany missions in which our 51Stei'% are. pariiLularly aci'oss Liverrrf)ol. This wider circle included furmcr sisiei's still in r¢gular ei)ntact, participxiils in huuse group8 which have continued {2011 to the present), and many wilh whom Ive work in our various apustolic servi¢e. Each year we remember the founding of our CongTegation on I I, November, celebrating this with all cvening of prayer and a simple meal reflecting the fTtsl meal of oui. two ftsunding membtr5 in 1819. They could not have knoivn whal that first ¢venin8 in Ihe poor house in Namui. was to 'begin. Wc h2ve always celebr2te(I this cvening in our own houses, bui more recetttly we have used the h05Pltality of Parish CetJtr¢, allowing us to invite diverse membeis of oui. widening circles of association and collaborxtion. Whilst 'lll5titution' may be less vibrant we sense that the Spirit of the founding chari8rn 15 a gill tts us, as S15tei's, bui to many oiher5 who treasure this evening and thcir ¢onnections with us, a5 Strengih, encouragement, belonging, And journeying together in failh ond mission. Sr.Bridget THE CONGREGATTON OF THE SISTERS OF ST MARY OF NAMUR CIO TRUSTEES, REPORT {eorhtinutdl FOR THE YEAR ENDED 30 SEPTMHER2025 SECTION 3: II'I #nd regular gatherings as a giDup. Con.sequcntly, thi5 iniiialivc has rebulied in the eslabli5hrnent ol a monthly rneeling, which is currently attend¢d by eight to ten iVOTnen. Thc groupprovidcs a safe plJ¢e foi. the Nvomen to shal'e their concerns and to pl'ay togeiher. Photograph of the Women at the well fountain in Chester Cathedral used throughout the weekend. A Year of Jubllee Pilgrimage Ill the past year the Si5teTS in thc HaiTOW community have been deeply involved in the Jubilee Year organi5ation and celebi'alions within the pai'ish. This wa5 a T¢newing and tTansfoiThing experience both individually and as a parish foi'ging new path5 of encounter and eommunion. Thei'e was partirulai. focus on Furgivcness. Rest and Worship and Pilgrimage. In Lent there weit talks each Sunday on Forgiveness and time of adoraiion culminating in a live Way of the Cr055 presented by a group of octors from anothei. parish. 'I"he Pilgrimage walk t() onc of the Jubilee designated parishes was also an occasion to slep out in or(leT to encounter God and otheis in joyliilly sharing failh. In addition, the Sister5 continue lo actively suprK)rt the parish in ditlcrcnt 5eivic¢s especially in Cat¥chesis and Iht Welcome Centre as well a5 the diffeiEnl initiatives of Ihe Parish that create a culture ofencounter. ILGRI THE CONGREGATION ofi THJ4SISTERS OI., ST MARY OF NAMUR CIO I'RUSTEltS' REPORT {¢ontinuedl FOR THEYEAR EINDkD 30 SEPTMBE4 R 20LS SECTION 4.. OVlI RSEAS MISSION The intemational missionary outreach rjfthe Sistei'sol'st Mary ofNamur lie5 at th¢ hear(of Ihetr identity and ¢hai'i%m, inspiird by Iheii. Co-Foundr&%s, Mother Claire of Jcsu5. Ilooted in a long hislory of rcsponding to the needs of the poor, the rnai-ginali%ed, and Ihe spii'itually seaichijig, theii'ovei'se&s ￿lsSiOn is not Jn optional ex(ensTon of iheir wo141 it is integi?I to wlio they are as women religious. The sist¢rs' overseas ministry ss ¢entred oll communities whcrB pov¢rty, conlliot, systemic injustice, and a lack ot access tD basic Services r¢maÉn daily tealilies. Tlie Sisters oftcr aecompaniment in ils deepest s¢nsc.' living alongsi(Ic, lislening, learning, teaching) and mini.8lering in ways thai are i'eqpon5ive lo the dignity and specific needs of thc people they serve. Education, healihcaie, social outreachj pastoral piEsert¢e. and lead¢r5hip Iraining arc among iht key expressions of Iheir misston. The ovei3Ea% commitment of the Con81'e8ation is not 5TmpIy about chai'ity - it Is about mulllal transfortnalion. 1.he Sj5ters emph2sisc that they Irceive as mu¢h as they Bive, and the mi55ion is marked by deep solidarity, cultuittl hurnility. and long-lertn pi'eseA¢e. This ministry also allows the Sislers in Ihe UK to rtrnain Co￿neC1ed to the widcT inteinational liFeofth¢ Con8iEgatiotE to offer suppoit through prayer, financial resources. advocacy, and spirilu ¢ommiinion. A5 the ConBTegation corttinues to navigate the realilics of ageing melnbership and Changing global dynami&s, Ihcir commitment lo oveiBeas missivn rcmains unwaverijig, Ivi(h a focu.8 on su51ainable ptrincrship and empo￿.er￿n8 local leadei"ship. The sistcrs are able io support comtnunication aiDund the world. The differ¢R¢¢ in langu*g¢ throughout the Congregalion eDuld bc a barrTer bul Si'.Loui8¢ i5 gifted in the aiEa of translation. Ministry of Translation A8 we al'e an intemaiional Congi'egalion. the .8isl¢i's of St Mary produce * nurnbei. of documcnls and publications includtng leiters from th¢ General leadership team, internation&1 news updates, various leaflets or brochures and our twice-y¢a¥ly issues ot. Echoes. a themed publication drawing material frorn all the Provinces and Regions of the Congregation. All the5edocuments have lo be ts'ansl&ted iniooiher lallguage5. It has for many Yea￿ be¢n my privilege lo bc pait of the ini¢Thational giDUP of sistei's who undei.lake Ihi5 tninistry. This kind of volutttary work makes a sileiil und unseen contribulion to Ihe smooih-iunning of the Congregation by faLililatin8 communication betwecn the nine countries whtrc oui. Si5tei¥ live and work. I liave been rendering this service foi. four decades oll an 'ad hoc. basis, and sincerely hope to offer several mole years to 50meihi*Jg I very much elljoy. Sr Lotsl$e SwAn$toii Int¢rnatlollal FinonciaI Contributions The UK Sisters continue to ctjntribtjie diTectly to oversEaS minisiries. particularly in counlrt¢S Such as the Democr@ti¢ Rcpubltc of Congo. Camei'oon, Rwanda, Tanzania and Brazil. njis includes.. Ongo>ngdon#¢ions.' Financial assistance is provided onan annual basis for schools hcalth clinics, and community projects. These Conli'ibuiions are often d￿leCted towa1￿ esstnlial infrastiucluTE, teach￿n8 materials, salaries for loeal staff, and irsource5 lor spiritual formation. Emei'gency and One-off Funding.. When urgent needs arise-svch as the repair Df a building, r¢placernent of vital equipment, oi. medical Lrises-thc UK eornmunity resE￿)ndS wilh additional funds. Tliese are iypically disbursed aftei" consultation with the international leadership to ensure &c¢ount&biliiy and Ii?nspgren¢y. Pi'ojecl-specific Funding.. Occasiottally. the IJK Si%ters provide taigeted suppurl for n¢wpivjtcts. In rcceni years. this has included fundinE for %olai' panels and IT resources to 5UPPOIt communication betivcen the $¥siers and lo provide electiicity in ihe more Yural senings, as well as funding formation and the training needs of the sisiei'5. THE CONCREGATION ofi THE SISTERS OFST MARY OF NAMUR CIO TRUSTEES, REPORT (continued) FOR THC YEAR ENDED 30 SEPTMBER 2025 SEC'flON 4: OVERSEAS MISSION {continued) Expression of grAtitude from our BrAziliHn Provithet.. Thi5 ib a response frotn our sisters ill Brazilian Province on receiving their annual donalion. It has become a Iradition that the Brilish Regioll, notwithstanding the very qmall number of sisiers rcmainin& manage5 to 5hure from it5 re50UT¢es wilh the Provin¢es of the Congregation in the souihwn hcmispheir. For the financial ytar 2024-2025. Ihe fund5 allocated to the Bi'azilian Provinc¥ helped sub5idise the nursing stu(lies for Sr Juliana Matos Santiago. along with various cour5¢s and training 5e55ions foi. the youngest membei's of the Province. Si'Jiiliano (flli. vighi) Iipiih ¥oipJe ofihe sliideni kysirses OK her C014fSe. Although the donation frorn the British Region was used mostly for initial and ongtsing fO￿atiOn for the sisters of our Province, this was not to the exclusion of other pressing need4 including a wheelchathr for an elderly. disabled Sister herc in Brazil. We can only reilerale our deep gratitude for this sisterly shai'ing, and assure our SisteTS of how much it has hel￿d us. Si. Renula (boiiom left) on hei'ttsigcheiical coiirs Sr Lucilent, Provincial, SSMN Brazil Thus, even though the UK community tLO longer ha5 S15ters working abroad, they remain actively involved in the shared mission of the Congre8atlOll throvgh prayer. moral support, and finan¢ial solidarity. All financial assistance is administered in Glose coordination with the Congregational leadership? and reports on exp¢nditllre and outcotnes are regularly Teceived. THE CONGREGATION OF THL SISTLIRS OF ST MARY OF NAMUR CIO 'rRUSTEES' REPORT leontrnuedl FOR THE YEAR ENDEJ)30 SEPTMBER 2025 SECTION 4: OVERSEAS MISSION Icontinu¢dl P¢tson%l Eiig#Eement and CommuiilesttSon Ev¢n a% dÉTfCt trnv¢l becomes more difficult due to age orhealth, Ihe Sisters in Great Drilain maintaiii IEgulartontact with Sis¢er5 seThing overseas. This inLludes'. Leiter5. emails, gnd occasional vidco calls lo provide c￿COul￿genient and spiritual companionship. Parti¢ipation in inlcrnational Congregational update5 and communicalions. Ongoing prayer supp()rt for the inteations and thallenges fA￿d in overseas resions. Thi5 'ministi? of prLs¢nce at d di5tan¢c" 15 a vital form ofsolidarity. It ensure5 that the Sist¢l'5 in the Greal Bi'iiain i'cmain connccled lo the life and mission of the wider Collgl'egation, offering the wisdom of iheir experience aT*d th power ofthcir prayer. R¢(lections And Futuye Dlrectio 'I'he Sist¢r5 of St Maiy DfNarnur continue lo rcflect deeply on (hc sh8pe and signi11￿ce ot-their overscas mtS8ion. While Iheii. physical presence iii some region5 has rtduced over the year5. the missionaiy spirit Iwnains centixl lo Iheii. idclltity. Inspii'ed by their Foundress, and suslained by a lon8 Ir&dition of inletn8tiun81 mtJiis1ry, the Si5ter% maintain a heartfelt commitment to makiiig the Good CTod known and loved rtnancial assiylantt. or spiiitual suppoit. whether throuEh active presence, This evolving appLoach to tnission i'eflects a shift fiDm ti'aditionaI modc15 of "sending" to a more contemwrary understanding ol global solidarity. Today, Ihe sisters offer their support through fonnaiion. accotnpè￿l￿Cnt. en¢ouragemellt of local leadership, and cai'eful slewardship of 1L50uI'c￿. In many cases, thc5e relationships arc built on decades of shared history with fomier missions now flourishiTrg under lo¢al leadership, bui still held in prayer and SUPFuXed Nvith gener051ty fl￿M afg1'. There is a gi¥>wirtg emphasis oil partnership.. not only iviih other religious communitics, but also with lay collab(Iratoi's and ctsmrnunity-based oi'ganis&lion5 Ivho share thc Sisters, values. This inGludes Streftglhening communication wilh conlact5 overseas, exploring joiot fundraising oppoi'tunities, atld looking at susiainable mo(k15 foi. long-l¢rm support parti¢ulai'ly where STr5tcrs are no longer able ¢0 be physi¢8lly present. Al th¢ same time, Ihe sisters continue to dtseem Ihe futuie with apenness &nd Teali5m. Thcre is aivareness ihal needs tnay change. llew paitn¢iships May etnerge, and SOME projeets may ¢velltually LE entiusted 10 others. Yet Ihvough all this, the Congre8atlOll Tetnains committcd to i'esponding t'aithfully, with compassion and COUfdge, lo the cries of th£ pool. and the call ol-the Gospel whercver that may lead theni. SECTION 5- FINANCES AND RESOURCES Floaneisl Highlights and Comm¢iitary In the financial year ¢nding 30 Septcrnber 2025, Ihe British Region of the Congregation of the Si5teis of st.maiy of Namur CIO continued to manag¢ i¢5 resources i¥ith piudence and for¢5ight, ensurEng that the needs of th¢ 515t¢r5, their tninislri¢5. and Iheit commitmcnts to Ihe wider Church and wotld wei'e met. The financial year was marked by stable operational income, a si8nifi¢ant uplift in designated spcnding, and continued reliance on invesiment di?wdowns lo sustain minibti'ies and tnissioll priorities. While ilie Congregaiion's finallr£al p05ilion remains Sound, tru51ees remain vigilant abDUt long-term sustainability, especially in light of increastng ¢aw¢ Costs and a gradually reducing si51tr population. THE CONGRECATION OF THKSISI'ERS or ST MARY OF NAMUR CIO TRUSTEES. REPORT Icontiiiu¢J) FOR THE YfAR ENDED30 SEPI"MBER20Z5 SEI CTION 5- FINANCES AND RESOURCES (conlÉnuéd) Total income for the yegr wa% £425.4k {2024.. £457.3k). This includcd investment income ol- £159.9k 12024.. £182.9kl and voluntary intomc of £262.3k12024.. £270.6k). This latlei. categ¢)ry includes Ihc salaries and pen4ioAS ol. mernb¢i"s af the Congregation donatcd to the Lharity under Deed of Covenant or Gift Aid. TheTe was no legacy iiicorne IE¢eived in Ihe year (2024.. £nill. Expenditure foT Ihe year ainounted to £428.Ik {2024.. £397.2k). This irteluded the cost of supporting membeis of the Cungi"eg&tion and their ministry uf £342. Ik12024: £297.4kl and donations to third paities of £35.7k12024.. £61.Okl. Net expendituiE, before investtnent gains. foi. the Y￿ar wa5 the¥efore £2.8k12024.. surplus- £60.Okl. I'liere were invcslmettt gains of £536.9k (2024.. £537.Ik) andthe overall result was A nct increase in funds of £534.Jk 12024-. £597.Ik). Fliiancial positioii Balance sheet rcserves stood at £9.52m12024.. £8.98tn}. Reserve5 aiid Resouvte Steward5htp At ihe end of thc year, the lotal rcsctvcs ol. Ihe chaiity 5100d at £9.52m. Of this, £1.87m iv85 Frpresented by a Fixed Assels Fund ieflecting th¢ Net Book Value of tht properties and othei. fixed assets required for the Ongoing work or the charity. De8ignatrd funds Stood al £7.Om, compriSlllg: RetiTem¢nl Rcserve Fund- £6.Om The chariiy has a coimmitment to pl￿VIde for the care of sisters of the lield in a fund to provide foi. the long- term care of sislers of Ihe Brit15h Region of the Congirgalian Ihroughout thttsi. lives. These 5islei's, m￿lY of whEitn cotttinuc io work long past normal relirement age in charilable activities, have giv¢n their woi'king lives to the promotion of the aims of thc charity and, In order to reflect their vows of poverly, have covtnanted to give any eai'nings (such gs salai'ie5 stipends and pensions) 10 ihe Charity. They thus have tx> assets of theii'own. Thebalance on the Fund was increased Irom £5.Om lo £6.Om in they¢ar ¢0 30 Septernber 2025 in Tecognilion of the gtx)wing costs of providin8 care provision. anticipated Tises in infla¢ion and escalating eoncerns over the return on investments. Financing and Congregation Fund- £l.Om -rhi$ fulld has been cstablished to finance granis and donation5. including those in Support of the Congr¢gation's misgion ov¢rs¢8s. The b8lanLe on the Fund wa5 inGreased to £lm from £91 Ik in the ye3r to 30 Septetnber 2025 in ordcr to I'eff￿t the TNsiees' airn to increase 5UEh giving in the ncar future. The General Fulld of the Charily sii)od at £645.3k at the end of September 2025. 'fhi5 equaies to apprDXiTnately 18 months, ￿CUrrIng expendiluYE and is thus within the Tiustees. policy of holding one to three year5, Worth of ¢Kpendilure in reserve. This to ensu￿ thatsufficicnt inveslnlent in¢ome is generated and to provide for contingcncies and unevenn¢s5 in future income sti'eams. At the date Df the balance 5hecl the Trustees con.%idcr that the level of free r¢serves to be adequate bu¢ not excessive provision for ihe Cha¥ity'S Ollgoing requirements. THE CONGRECATION OFTHESISTERS OF ST MARV OF NAMUR CIO TRUSTEES, RCI PORT (toiJ*inuedl IOR TH£ YEAR ENDED30 SEWI'MBER 202.$ SECTION 5- FINANCES AND RESOURCES (eontinuedl The IEsei'ves also reflect the reality of an ageing population, and provide a foulldatton foi. suslainin8 a digiiifjcd quality oflife, caie, and spii"iiual support for membcr%, while cojjlinuing to honour e%l¢mal commilmenls. Dui'ing ihe year, the Truste¢5 J'eviewed the levttl of lh¢ r¢%erve and incirased it to r¢flect updated as%iJJnplions amiind longevity. care nced5 dnd rising costs, The trustees coJJsid¢r the resulting level of the reserve lo bc appropriatc having regard 10 the current membcrship of rhe CDngrE8ation and the chai'ity's available resouircs. By Ihe eni8 ¢Trf September 2025, rto I'C5tri¢ted funds remained. Monies held were enliiEIy spent on theii. relevallt putyost5. Regular reviewsaiy ¢￿'r1ed ou¢10 ensure reserves arc appA)priately allocated, and investment managcrs art consulted annually to iyview stra¢egy and perfoimanee. Invostment Strategy Perfoi'iJ]Rnee The Sisters of St Maiy of Namur continue lo adopt a tIiou8htful and elhi¢ally grDunded investment strategy Rli¥ned with the Congregation's mission and Catholic valu￿. Inv¢stm¢nls al'e prol¢s5ionally managed and diversified ocrnss a halanced porifolio that seeks ￿th stability and income, with a bias toNvard long-tcim sU5t&inability over Bhort-ierm gains. The tnJsle¢5 have expliciily instructed managers to avoid cotnpanies engagtd in.. ATmamenis Tobacco Gambling Fossil Euels Iivhere fea5iblel Industries conirary to Catholic social ieachiiig The inveslmenl mandate focuse5 on maintaining Capital value over time, while 8enerati￿g sufficienl incomc to contribute lo thc CongreBalion's ongoitig needs community piDpcrty ma￿n¢t￿anCe. particularly the rising eosis a55ocialed with Elder Lare and The ti'ustees contiliue Io tnonitOT glob81 mark¢l voldtility, inflaiion pi'essuirs, and sectoral 8hifts (especially in ethical inve5tingl, IEmaEning open b) adjusting their risk tolerance or div¢iEifi¢atioll madel it) i'esponse lo these trends. Rask Managemettt: The trustees collduct annual risk ￿$t&sMentS and maintain an evolving iisk register. Riskn &lE Inonitored across fivc key dornains: l. Governance and Leadership- including succession planning. ?. op￿.allOna1- especially car¢ provision and pr()PErty suitability. 3. FInanci￿- reliance on investment income and cost inflation. 4. Safeguarding and CDmpliance- foi. both vulnerable adult5 and legal obligations. 5. Reputation- managing r¢lationship5 Wlth partners, funders. and the wEder Chur¢h. Key rnitigations include.. Ongoing review of care knme arrang¢rnen(s ond housing needs. Ustt of extemal advisors foi. invesiment. legal, and saf¢gyarding issue5. Monitoi'ing in¢ome volatility. particularly frorn investments ¥nd pensions. Ellsuriiig safeguarding wlicies remain up to date and ivell-implemellted. 12 THE CONCRECATIOIY OF THE SISTERS OF ST MARY OF NAMUR CIO TRUSTEfS' REPORT Icontlnucd) FOR THEYEAR C4NDED 30 SEPTMBEI R2025 SECTION 5- FINANCES AND RESOURC£S IcDntiDuedl Investmeiit Poliey P¢i'formAnee Thc Si5teis ofst Maiy ofNamui' rely significantly on investment income lo suEt3in their care ¢ommitnieiits, mini8tiy suppoit, gnd intei'naiional mission woI.k. The Irust¢es take a conbtivative. eihically aligned appi￿ach lo nilnaging the chariiy's invesltncnL poi'tfolio. Invtstmcnt Polity: Tlie Gharity's investmenl st￿tegY is overseen by the trustcts with SUPPOLt from profe5sion21 fund managers. Key fealuTes includc.. Eihical 5¢1eening-. Inve51tn¢nts avoid companies engaged in aclivities contrary to Catholic Social Teaching le.g. armaments, fossil fuels, tobacco, etG.I. LOng-ter￿ gYDwth fo￿lS.. The aim 15 to generate steady In￿Me wilh modcst capital #￿rec￿#t10n. Dive￿if]￿atlOn.' Fullds are spread across asset cla%se5 to mitigate volalilily. Liquidity.. A pDition of Èssets is held in accessible fortD to support annual d13wdowns and unforeseen cost5. Investmejkt Over5ighÉ 'rbe investment manager5 provide regular repoiting and meet with the Irust¢es annvally to review perfoiTraTh¢< licy, and mgrket outlook. Investmeni performanGC is ¢ompai¢d with benchmarks 8PPl￿pI7ate to ty3utiousthA13nced ¢h£rities. In tlie fin8ncEal year ending 30 S¢plernbcr 2025, the British Region ofthe Congi'e8alion of the Sister5 of Sl. Mary of Namur CIO continued to rnanage ils resouires with prudence and furesight, ensuring that the needs of the si51¢rs, thEir ministries, and their commitments to the wider Church and world weiE met. Iiivest￿¢￿t peYforrnaTJft A5 pr¢viou51y sthied, Ihe charity's investments are managed by Rathbon¢s. At 30 Sepiembcr 2025, the inveslmenls had z market v&lue of £7.36En {2024.. £6.66m). The investment m&nosers continucd lo invest in accordancc with Ihc tiuslEes' investrneni poliLy sel out earlier in this IEPOrt and IR Compliance with the ethical guidelines given ta thcrn. Furiher detail5 Of the illvestmenl portfolio ar¢ included in note I I to th¢ attached accDunls. Dui'iiig the year to 30 Septembei. 2025, the chaTity's invcstmenls achieved an annualised incomeyieldof +2.40/12024.. +2.99VDI. and k)n annualiscd capital IElurn of +6.45Oh (2024.. +8.79Vts) nicaning the ￿ts1 relurn foi. the year +10.460/0 (2024.. +11.78fj/0l. Returns werc marginally ahead of the averages quoted for the charity %eclor ovei. the year alld thr li￿Stee5. thereforc, are satisfied with investrnent perfomlance. 13 THE CONGREGATIOIY OFTHE SISTERS OFST MARY OF NAMUR CIO TRUSTEES, REPORT Icontillued) FOR THE YEAR ENDED 30 SEPTMBIIR 2025 SECTION 6: LEGAL AND ORGANISATIONAL STRUCTURE The Sisters of St Mary of Namur in the United Kingdom operate as parl of an inteinational Roman Catholic Religious Congirgalion. In Gieal Bi'ilain, the work ofihe SibteiE is oveiyen by a regi5teird chai'ily. I'he Si%ler5 of Sl Mai'y of Namui., CIO. This Chai'iiable Incorporated Oi'gani5ation ICIOI pi'ovidcs the formal slructure through which the Congregation's mission and tninistrie% are adtninislered in accordance with IJK charity law Hnd best pra¢tice. The charily is govei'ned by a Board of Truslets, all membe13 of the Congregation. Below are brief bi08raphies of each trustee who served between I" October 2024 and 30ih September 2025. Sister Moii'a Meeghan ITrust¢c and Reglonal LeAderJ Sister Moird ha5 been a member of lh¢ Congregation for 41 yeats. Hcr ministry has mainly been in education, l¢achin8 In the areas ofNotting Hill, Wailord aiid Liverpool. Thc final years of hei. teaching Lareer were l O years as l.leadteacher of a joint CatholiclChuiLh of England Primaiy bchool, in one of thc pooir5t aiEas uf the city of Livcrpool. l-ler other Tninislries have involved rnu51C ministiy in parishes, catechetics and youth woi'k. SisiLr Moira is noiv employed on a parl IiTne basis by the Archdivce5c of Liverpool lo create opportunities for spiritual dcveloprnent and outreach. as part of the Irenaeus Pi'ojeci. She has PTeviously beEn a membei. of the Provincial Coun¢il. Sl.Tier Loiiise Swons1011 {Tru51ee Regionulsecreiury) Sister Louise has bcen a Tntmber of the Con8tegation foi. 40 years. She is trained in leaching and spiritual dire¢tion. Her ministrie5 have in¢luded teaching, school chaplaincy} faith foiThation, catechesis, spiriluHI accompanitnent, and Irtr¢at work in ils many forms. Hcr cun'ent ministi'ies are in the last two categories. She has spent 20 years irt leadcrship Toles within Ihe Congrcgativn. six as PIDvincial Le&der. Six as General CouncillorlGeneral Secretary and eight as Pix)vin¢ial Coiincillor. Slst¢r Bridget Folkard ITru5tee) Sister Bridget Folkard ha5 been a meTnb¢rof the Congrcgation foi. 59 years, mostof which she has workcd a5 a nui%e in Congo and Rwanda, Ivith medic41 and administrative responsibilities lor large heulth centres. She returned tu the UK in 2008. She studied for a year for her Masieis in Hurnanities, then ivorked as a volunlary Pastoral Team member ill NH.% tnenlal hcalth und addiclii)n seivices. Sr.Bridgei suppoils the local pi'imary Schools in their spirttual life. She also liaises with sisters und with the 'FTiends of St.Maiy' and Gooilinates spirituality and life dTbcei'ning groups. Stster Doreen BrAdlty {Trustet and Regionkl Bursar) Sister Doi'een has been H rnember ijf the Congregation for 60 years. She ts a qualified teacher. Her background is in secondary and adult education, adult faith foiin&tion and pastoral tninisti'y. Thi5 ministry was realised ID Africa, Scotland and England. 21 yeaiE of min551ry were in Lolldon, in the Archdiocese of Westrninster and the Archdiocesc of Souihwark. Sr. t)oiecn also works wilh r¢fugee5 and asylum seekeTS. She has held many role5 of responsibility through her various tninistries and within the British Region. 14 THC CONGREI GATION OF THE SISTF.RS OF ST MARY or NAMUII CIO TRUSTEES. REPORT leontinued) FOR THE YEAR ENDED 30 SEPI'MBER 2025 sEcrioN 6: LEGAL AND ORGANLSA TIONAL STRUCTURE {tontlnuedl Key manAgenieiit peT5(bnntl 'rhv tru.%leeb consider that they coinpi'ise the key management of th¢ eh&rity, in oh8rgtt ot diiEcting and cOnti￿111ng* runn*ng and opeiAting Ihc CIO on a d&y-to-day ba$2s. As tnembcrs of the Con®alion, whilc their living and personal expensc5 are tx)Inc by the bhai'ily, thcy receive no rernunei'ation or i'eirnbursementof c.xpen5ts in conncotion wilh theirdu11¢5 #s Irustecs or key management per.sonnel. Liabllity of the member If the CIO is wound UPJ the individual member of the chaiily has no responsibility for corttTibuting lo it% a55¢4s or for settling ils debts. and liabilities. The charity aims to achieve bcsl pi2cliec in Ihe way in which it commiinica￿￿ with do￿l'S and other supw>rlEI'S. Care is taken with both Ihc lone of its communi¢aiions and Ihe accuracy of its data, io avoid P￿ssUre on 8uppo)'iei's. 11 applies best practice to protectsupporlers, data, nevei'bellinB oi'exchanging data, alld ensui'ing th81 coinmuni¢alion pref¢r¢D¢es Can be ch&ngcd at any tiTne. The Lharity rnanages its own fundraising activ￿lieS and does llol eTnploy Ihe SErYite8 of professional fundi'ai56ts.'fhe charity undertakes lo react to Jnd invcstigale any complaints regarding its lundraising activities and lo leai'n fl￿M Ihem and impmve its bervicE. r)uring Ihc period, the charity received n omplaints about it5 fundraising activities. Statement of trustee5' responslbilitie5 The trustees are reswnsible foi. preparing the tru51ees' report and &ccounls in a¢wrdancc with applicable laiv and United Kingdom Accounting 8landard% (United Kingdom Generolly Accepted Accounting Practice). The law applicable to ¢haritit5 in Englond and Wales requires the trustees to prepare acLounts for each financial period which give a ITue and fair view of Ihe stale of affairs uf the chai'ity and of the iocome and expcnditure of the charity for thal period. In preparing rhe accouDt5 th¢ Lru.8tces are reqUi￿,d Èo.. select suiiable accounting policie3 and ihen apply thern consistently. observe the mcthods 8nd prinGipl¢s ol. Accounting and Reporting by Chariti¢s'. Statement of REcommendcd Practicc applicable to charitie5 pYepllvinE their accounts in a¢¢ord&nce with tht Financial R¢porting Standard applicable to the United K%ngdom and Republic of ITeland IFRS 1021- make judgemenls and estimotes thai are reasonable and prudent., stat¢ whethei. appliLable United Kingdom Accounting Standard5 have blen followed, subject to any m2ta.illl deparlures d£s¢losed and explaincd in the accounis. piy)Rre the aceoullts On the going concern basis unless It is inappropriate io ￿sSUme that thr ¢hai'ity will coniTnlle fn operation. 15 THI CONGREGATION OFTHE sis'fFRS OF ST MARY OF NAMUR CIO TRUSTEES. RCPORT looiitinued) FOR THE YEAR ENDED 30 SEPTMBER2025 SECTION 6.. LECAL AND ORGANISA TIONAL STRUCTURK {co]Jti]Ju¢d The Irustees are respo￿stbIe for keeping 8cLounting rccords which disclose with reasonable accui'acy al any time the financial posltion of the cliariiy and whi¢h en&blcthem 10 cnsiire that Ilie accounts comply with Il)e Charitics Act 2011, the I'elevant Charity IALcounis dnd Repon%l Rcgulalion5 and the provisions of chaTlty's conslilution. I'hey are also ie5ponsibl¢ for sategvJi-(ling the a5SEls of ihe Charity and he￿¢¢ for taking reasonable Slcps for the pi'evention and dele¢tion rjfiraud and other irregularEties. Sti'uct￿rt man*g¢M¢nt reportlng The Regional l.eader and her Councsl hold iheir team meetings Otj &v¢r8ge every iwo month5. Tru5tees' meetings occur appTo¥irnalely rveiy three months, unle55 a pressing concern requiiE8 imrn¢diale atiention and thu5 an exli'aordinary rneeting. -rh¢ trustees, re5ponsibilily IS to i'eview developmcnts with regai'd to the charity and ils a¢livities and to make important decisions. These are times ()fa5sessment and toriysrd planning. When necessarys the Iruste&% SLek advice and suppoil frnim the thai'ity's pix)fession&l advisei's including propcrry ¢onsuliattts", inveslments managers. 501iciiors, acLX)untAnt5 and in8uran¢e compani￿. The day-to.day manggemcnt ol'ihe charity's aclivtties, and the implementalton ofpolicies, is delegaied lu the appropriate membeTS of Ihc Congregation and sttnior staff. Th¢ British Region LiinEnily comprises tivelve sistC15, eleven of whorn live as part of three commuttilTes. One sister is cuirenily rcsiding a cal'e home. I wo ofthe cL)mmtsnity houscs are situated in Liverwul #nd one is in Harroiv, Middlesex. l-he communily houses are located in Ihose areas where il is believed ihat the sisters can seYvE the poor and margtnJll￿d. All ihe hoiise.q ar¢ close lo are85 of so¢ial and sptritllal deprivalioTr where p8sloral and spiiitual needs are evidcnt. Risk mana£em¢nt In line Ivith the requircrneni for iwsiecs to undertake a risk assessment exercise and rety)It on Ihesame in their annual repoit. the Irustecs havc Inoked at the iisk5 the Coagrcgation (and hcnce ¢he charilyl curirlltly face5 in Brilain and have I'eviewed the measures alieady in place. or needing Éo bL Pilt Ill place, lo deal with Ihem. Each community ieviews regularly ils risk assessment chart, inci'rdsing safety mtrdsure5 and adapting house facilities needs evolve. This enablts Ihe trusiees to havc an ovei?11 vicw of possible risk.8 and Iheii. management aLr055 (he whole Region. as well as ITr each ittdividual comniunily. facilitat￿ng policy Inaking and pirvention of accidents. The Itadership team are respottsible lor owers¢eing the risk as5essmtnt each year, locusing on internal and ¢xteimal risk factors. Each communily is updat¢d Dn the ongoing Iwuiirments ofhealth and safely and th¢ impoitanee ora safe, healthy living enviifjnment. SisteiB have mainlaine(I collabr)rative ministry with lay people in diverse apostolic fjelds, sh&Ying with them tlie charism and ￿￿IsSion of the Congi'egation. The areas identified for partiGular atteniion iyithin our I'i5k m&nag¢inenl slraiegy are.. gQVCTnance and managemcnt- Dpet31ional., fin8n¢ial., laws, regulations, ￿ternal and environment. Governallee and [￿a￿Agejne￿t- looks ai thc risk of the Con8regat>on, and hertce the charity. 5UtTei'ing from a 12tk ofdtre¢tion, at the skills and training ofils members, and the 8ood tjse of its resources. An at)alysis of the age piufile of th¢ si5teis shows that the av¢i?ge age ai 30 Sq)Icmbei' 2025 76 years. The IIustee5 al'e aware that ther¢ i5 Eoih a Tnoral and legal obligation to e8re for the sist¢i3. None of the sisteis have r¢50urces uf their own as all ¢arniDgs, pensions and any other inwtnc have been donated to the chartiy under 2 Gift Aid compliant Deed of Covenanr. 16 THE CONCRECATIOIY OFTHE SISTERS OF ST MARY OF iYAMUR CIO TRUSTEL4 S, REPORT Icothtlnuedl FOR THEYEAR ENDED 30 SEPTMBIR 202S SECTION 6: LEGALAND ORCANISATIONAL STRUCTURE Itontinuedl Age of the sisters in the British Region llo: W 70: W 6C= Graph to show the age demographic of Sisters ill the BTilish Region. As staled above, the trustees rneet rcgularly to monitoi. the life, mission and ministry of the sister5. A lay accounlani is employed and meets i'egularly with the trustees. A lay Community Support Worker is also employed to 5uppori thc les5 mobile and elderly sistcrs. Bvih lay worker5 attend in-stTvice training. Age IJK cleaners are employed for thc Livei'pwl communities and a cook is employed through an agency for one of the Liverpool houses. On¥ cleaner is employed through an agency for the Harrow cotnmunity. The sisters are encouraged to ottend appropriate training workshops and in-seivice lo support their ministrie5. The trustees ait regularly as5¢ssing current social lleeds and seekillg ways of offering assistance. Oper&lloiial.. looks at the risk5 inhercllt in the aclivities of the charity J particularly pasloral care. The house i Swartsidc Road. Liverpool wa5 built to cater for thc need5 of the older si%iers a5 we tnove into Iht future. It was d&%igned tu enable the sisters lo invite people in for ¢ourscs and aGlivities which in ium enables them lo coDlinue Maintenance and safcty of other Regional properties conbisiently remain a priority. PTocedures are in place for staff and healtli and safely issue5. Comprehensive insurance policies cover health and safety, equal opportunilies. me(li8 5it1eguai￿lngj dignity at WOTk and tei'tnination of employment. TheT¢ are disciplinary and grievan¢e procedures ID place. FinathciRL. looks at risk5 including those arising a5 a result of poor budgetary conlrol, poor accounling and poor management of the investrlleni portfolio. There 15 a budget system in place for each si5tei' artd each community, agreed by the trustees. Mollthly ac¢ounts are Sent to the accountant from each community. Cheque bookE llnd bank caiAIs are kept in Sale places but not together. ror cheque5. there is a ceiling on thc amount for one signatory. The charity's principal asset comprises listed investments. the value of which is dependent on movements in UK and WOTld stock markets. The investments are managed by repulgble inve51rnent manager5 who adheiE to a policy agreed by the trustee5. The trustees meel with the investment managers regularly and the rnanagerfs peyfvrmance and that of the portfoliu dre monitored. The investment strategy is assessed Tegularly to ensure it remains appropriate to the chai'ily's needs both now and in the future. 17 THE CONGREGATION OF THESISTERS OF ST MARY OF NAMUR CIO TRUSTEES, REPORT (contin￿2￿} FOR THE YEAR ENDED 30 SEPTMIIER 2025 SECTION 6: LEGAL AND ORGANISA TIONAL STRUCTURE Irontinued} During the euiirnl global economi¢ uncertainly. the Iruslees continue lo communicaic with the chai'ity's invcstmtnt managers and, whilst there are coneern5 over the volatility in world stock mai'keis, il is acknowlcdged also that the Charity is a long term inl'esior. As such, the charity will be able io wail foT markL'ts lo slabilise over time whilst the Irustees kccp a watching brief. Laivs, rtgu1attol￿ txternfil And environm¢Nt.. looks at the offect of governmenl policies and ihc Consequences Df non-compliance with lakn'5 and I'CEulations insolar as thcy are applicable to the Congi'egaLion's activitt￿. When laws are applicable. cal'e and considcration are given in implementing them. Thcse includE.' hcalih and safely, equality, dald priJt¢ction, human rights and safeguardiiig. The Iru5tees dltend workshops and conferences to keep up 10 date with their iesFonsibilitie5. Havillg ass¢5.%ed the majoi. risks to which the¢hai'ity is exposed. the (ru51ees believe that by monitoring IEserve levels by ensui'ing coniio15 exist over key financial sysleTns and by vxamining Ihe opei?lio]sal and business risks faced by the chaTily, they have established Effe¢live 5yStem8 to tnitigatL those risks. External A(Ivrce And Professionil Support The Trustees recognise the value of hi8h-quality professional input in ensuring the rcsponsible guvemance and effective Man8£L￿1¢nt of th¢ Si5tei's of St fvIary of Namur CIO. As the needs of the Congi'e£aiion bcci)tn£ more compl¢x- p8itlLularly around finance, prDperty, safegiiarding, Jnd compliance seek expeit guidance in a number of a￿a5. the Trustces have continued to Isu The CIO benefits fiM)m a long-standing i'elalionship with sp¢Gialist charity solicilots who pi'ovide advice on.. Govei'nan¢e and CDnstitulional niatter5 Employment und HR queries Propei'ty sales, Iran.8fcrs, and Icases Risk management and regulatory ¢hanges 'I'heir advice hab been particularly valuable in recent ytars durin8 piY)pei'ty reviews when handling sensltive legal qU¢5tiot]s around leadership 5ucce%sion planning and Safeg￿rding. Flnancl81 InYe5tment Guidattce ch￿'llY accounts and financial rewrting are supported by a qualifIed ac¢ountani familiarwiih r¢ligiou5 diai'itie5 and their reporting iJhligatiotts. Ti'ustees also benefit fionTr independent irtv&strnenl advic¢. ensuring that th¢ Clo's investm¢nt policy is aligned with etliical sian(lards and desig#ed lo meet futUlE care nceds 5UStainably. Annual tnvLslment revt¢WS take place bctiveen the Trustees and ihe CIO'S portfolio manager4 providing the opportunity 10 assc55 perfoTmance, review risks, 2nd adapt the investment strategy where necessary. Addi(lotk&l SpeciAli$t Input Olher professional advisei's are engaged as needed, pariiculai'ly when chan8e5 are proposed oi. when a review of policy and complian¢E 15 due. The Trustees art cornmitted to discerning when in-house capacity is sufficient and when it is appropiiale to bling in ouL8id¢ expertise. This approach helps ensure good stewardship of resoiirceq, appropiiate risk managemtnL and forwai'd-lookink govemance. 18 THE CONGREGATION or TIIE SISTERS OF ST MARY OF NAMURCIO TRUSTLI ESI REPORT Icontlrtlltdl FOR T14E YEAR ENDED 30 SEPTMBEI R Z025 SECTION 6: LEGAL AND ORGANISA TIONAL S1.RU￿URE (¢OELtinuedl nvkj'onmental R¢$pon5ibilily The Trustees are mindful olthe need toi. eiivironmenlal 51¢wardship in all areas of the Chavity's woi'k. While formal environmentul ￿)lICieS ale still in development, ¢ffoits are bcing madc to Irducc waste, Impl￿Ve enei'gy efficieDCy in properties. and inLorpoT7lc susiainabilily pi'inciples where po&%ible. including in parluership with comtnunities overseas. DiEltal Strategy #lld Acces5Ébility Recognising the inc￿&S1ng IM￿rIan￿ of digital touls ill mission and communication, the Charity continu¢s to develop ils digital pi"esence and awessibility. Recent efloits have included w¢bsitE updates. explDralion of digital resources to suppoit formatlOD and pl'ayer. and the use of teGhnolo8y to m8i*lain contact ¥¢lnss intunational cornmunitie5. Equality, Diversily and Inclusfion Th¢ Charity is ¢ommittrd to fosterin8 a culture of dt8nity, equ&lily, and inclusion. 'Fh¢s¢ values are irfl¢¢led in Onl￿1UnItV IiL¢. external partnerthips. and suppr)it utTered 10 staff and volurtleers. Tlie Trusl¢e8 encourage I"Eflective l¢aming and ongoing training in this area as parl of a broa(leT Curntnitment to compassionate andjust pi'a¢iice. Feedbatk Complaints Hhndllng The Charily ivelcomes fee£1b￿k fi￿￿ thost it s¢rve8 and works along%ide. Comments, conceTTrS or suggesiions can be directed in per50n, by post or via email. While no fomial complaints were iE¢eived dui'ing the year, Trustees remain attentive lo any ¢oncerns i?i5ed and seek to respond in a tirnely and conslriictiv¢ m&nner. Retleetlons and f4uture Directiv In recent yLars, the Sisiers of St Maiy ol'Namur in Great Britain have adapted their governance struciures to reflect their evolving need5 as a sm&llei', x¥eing comrnunity. The cstablishTn¢nt of a foi'mal CEO and IhE Consolidation of key Itad¢i'ship and trustee role% hab provided a clear and stable framework foy decision-making. The use of extci'nal professionaL5 ineluding legal, financial, safeguarding, and cal'e specialists has 5treiigthened the charity's ¢apacity to fulfil ils dutlC5 eompliant and mi8sionrfli.iven way. Looking ahead, the Community recognises that governance musl rernain both realisiic and i'esponsive. As the number of active Sisters continues lo I'educe. trustees al'e mitldful ofthe neeLI to ciisureongoing good5tewardship, transpareni decision-making. and the pre5crvation of ¢haTism and Icg&¢y. Future gniiernanec rnay involve add￿tIonal simplification ofstructures, further reliane¢ on external professional SUPPOTI, or consideration of tnore collaborative approach¢s with lay partners. There is a 8iYJThing awai'¢ness that governance l5 no longer sitnply abDUt oversight, ix]t alx>ui ensuring contllllllty of mission, particu181.ly as responsibiliiie8 shift and tht communiiy becomes le55 able to manage complex operations ittiernally. Th¢ trustees and leadtrship team i"emain cornmittcd lo engaging in reflective dialogue about these shifts and to working alongside the Congi'egalional Leadcrship Team to ensure alignment with international Sli"uctures and canonical obligations. SEI CTION 7: SAFEGUARDING AND CARI The Sisters of Si Mary of Namur remain fully committed to upholding the high&st standard5 of sfjf¢8uarding and paslDral care in all gl'eas of th¢iT mission. As a religiou8 Congiegation with ageirtg members. and with a continued presence in both Pdstoral and coinmunily settings. the safety wellbeillg of all- especially ¢hildiEn, vulnerabl dults, and the Sisters themselves- a moral, le8al. and spiritual pi'ioiity. 19 THE CONCREGATION OFTHE SISTERS ofi ST MARY OF NAMUR CIO TRUSTEES, REPOR'f (eontiiiued) FOR TIIE YEAR ENDED 30 SEPTMBER 2025 SECTION 7.. SAFEGUARDINC AND CARC leontinued} SAfeguardine Partntrship5 The Congi'e8ation is aligned with the Religious Life Safeguarding Service IRLSS) and adheres to the national standards set by the Catholtc Safeguarding StandaJY]s Agency {C8SAI. The congregation successfully mei the requiretnenls of the Salcguarding Audit condu¢led in June 2025. receiving only a smoll ￿Umbe1.￿F recommendation5 for further 8¢tion. S*fEguardittg Folicy Pvhcticc The congreBatiun adhtre5 to the natioiial safe£uai'ding piDto¢o15 of the Caiholic Church in Lng18nd and Wales and follows the guidance sel out by the Catholic Saleguai'ding Standard5 Agency ICSSA}. rhe SISt¢L￿ a¥e a150 members ol-the Religious Lite Safeguarding Service IRLSSI and woi'k closely with thtir advi50I'S to ¢n5ure compliance Ivith safEguarding.%iandai'ds and expectations. All Sisters in active mini5tiy al￿ requii'cd to undergo Disclosurc and Bairing Service (DBS) checks, and this also applies to staff or volunteers who work closely with them iti role5 *nvolving vulnerable gi'oup$. Sgfrguai'ding training is reg￿larly undertak¢n, and safeguaixling reSt￿nSIbIlitieS are ¢lcarly designated wiihin the congiegaiTOll. A named Sister ￿rVeS a5 the inl¢mal sate8uarding liaison for British Region, ensuring that all ncce5sary measurc3 are taken to maintain safe ivorking practices ond appropriate reporting channels. SECTION 8: FUI'URE PRIORITIES Orjgoing eAre nteds The community aniicipales Ihai ihe need for support among ageing Si5tel'5 will Continue to gro%v ovcr the ¢otning years. As indivtdual needs cvolv< so too must the sysiems and envIronm￿t5 that support them. The charit>, Ivill continue to monitor health and cèjit requirements closely> Ellsuriny that Sisters are able to rcmain Tn f8mili8r, supportive setlings for as long as w)SSsblc. Futuir piloriries it)clude as5¥5sin8 the suitability of existing accommodation and trspondillg to increasing care complexity. The Sisters, wellbeing remains eentral to evely planning decision. Property stesvardship The use of PLx>perty continues to bE a live area ol. 8ti2tegic planning. As Ihc neds of the community change, the chariiy reniains committed to ensuring that p￿p¢rtiCS are appropriate, wcll-managed, and aligned with current and future mission priorilies. Environmenit)I sustainahility, accessibility. and findncEal stewardship ale key len5cs for this work. Where buildings are longer needed, tlie possibility of sale or repurrK)sing ivill be carefully explor¢d in lin with protessional advice and congregaliondl valucs. Le*dersknip and suctession Aging leodeiship and the pra¢ii¢al realiltes of congi'egational life require continued attention lo leadership planning. The Current govu'nanee 5t1.ucl￿lc5 remain eff¢¢tivE but succession planning is a growing priorily. ThElf is openn¢s5 to streng(herting ti'uslee support- possibly ihrough extcrnal piofc55ionals ar younger lay m&mbers ivho share the Sislei's, values. The charity will cunlinue lo I'eview Ihe1*5t ways lo sustain accountable, mission-driven governaijce thai honours both the Con8regation's identtly and the legal IE5ponsibililies of the CIO. 20 THE CONGREGATION OFTHE SISTERS OF ST MARY OF NAMURCIO TRUSTEES, REPORT leonÉltJued} FOR THE YEAR ENDRD JO SEPTMBER 2025 SECTION 8: FUTURE PRIORITIEI S Icontinuedl The mission of thé Britj5h Reglon Through all futuie planning, the 51slet's remain looted in thcir founding ¢harism and mission. The desire to be a pitycrful and Compassionate presence in the ivoi-ld- especially among the vulnei'able contEnu65 to animate their life and service. Fven as numbers chang¢ capacity evolves, the CongrLgation rernain5 Cotnmjlled lo txpressin8 this mission in nLw ways. Priorities include susthining p￿toral pre%ence. maintailling internaiional conneetions, and rtspanding flexibly to emerging needs, all while holding fast to the core values of the congrcgation. SECTION 9.. CLOSING REFLECTION As the Congregation of thc Sisteis of St Mary of Namur CIO continue to T¢S￿Hd lo th¢ needs of today's world. we do so iviih heai'ls rooted in gratitude and eyes lifted in hope.'I'he jouiTrey aliead will call us (o adapt with couragc, to deepen oui'pai'lnerships. and lo rem2in attentive lo Ihe Spirit tnoving arnong us. Though oui'numbers may be smaller, our cotnmitment remains stiDn8- to une another, lo those we servc, and to the chai'i51n that ha5 shaped our lives. In a timc of change, ¥ve clio(Jse Ii'ust. In rnomrllts of uncertainty, we retum lo prayer. And in all thin85, we seek lo live wilh openne55, genErosily, and pract. Wilh our partners, staff. friends and benefa¢iors, we continue to walk this path not alone, but always together. Signed on behalf of thE trustees.. Sister DoTttn Byadlry Trustee Approved by the trustees on: 18 May 2026 21 TIIE CONGRl4GATIOiY OFTHE SISTERS OFSTMARYof NAMUR CIO YEAR TO 30 SEPTEMBEI R 2025 INDEPE4NDfNT ALDITOR'S REPORI, I'O THE TRusfEES OF THE C.ONCREGATION ofi THE SISTfiRS OF ST MARY OF NAMUR CIO Opinlon We h8ve dudited the 8¢eounts of The Congrcgation Df the Sislcrs of St Mary of Narnui. CIO Iihe'charily'} for the year to 30 SEPtetnber 2025 wl)i¢h compi'i5e the statement of f&n2ncial activtties. the balance shcet, Ihe slalement of cash flows, the pi'incipal accounting poliLies and the no1¢5 to the accounls. ThL financial ieporling framewoi'k thai has bcen applial in theii. prcparation is oppliLdble laiv and Unitcd Kingdom AccountlllB Slaiidai'd5. including Financial RL'POI'tang Standard 102 'The Financial Rep)rling Siandard applicable in the UK and Repiiblic of IIEland' {Uniied Kingdom Generally Aeccpied A¢¢ounting Praeticel. In our opinion, the accounts... give a Ivlle and lair view ofthe stat¢of the charily's affairs as at 30 Sepi¢mbcr 2025 and of ils incoming resour¢es and application of resources. tncluding its income and expenditure for the y¢aT then ended; have bee￿ pmperly prepaird in accordancc with Uniied Kingdom Genei'ally A¢¢epted Accounting Practice; and have been prcpared in ac¢oi'dan¢e ivith the requirements ofihe ChaTltics Act 2011. B#5i5 for OPiTiTon We conduLled our ¥udit in accord*&nee with International Slandai'ds on Auditing (UK) {ISAs IIJKII and applicable law. Our responsibilities und¢i' those standards ale fuilher described in the audiioi's i¢spon5ibilitie% foi. Ihe audit ofthe a¢¢ounlb section of our reporl. Ill¢ independet]t of the chg1.iiy aceordance with Iht cthical requirements that aiE relevgni lo our audit of the accounts in th¢ UK. including the FRC'S Cthical Standard, and we have fuifillcd our other ethi￿] responsibilities in accoi'dan¢e with these L'equiiEments. We beliei'e that the audit evi4en¢¢ ¥vc hav¢ obtained is suffictenl nd appropTiatc to piDvide a basis for our opiTrion. Conclusion5 r¢lAtlng to going £0￿cer￿ In auditing Ihe a¢eouTrts. we have conLltsded thai the ti'ustces, use of the going concem basis of accouniing in thc PJYP8ra(ion of the accoun15 is appropriate. BJscd on the work ive have perfornieij. wc have not idenlilied any material uncert&inties relating 10 ￿entS or conditions thal. individually or collectively, may casl significant doubt on ihe charity's ability lo continue as a going concem foi. a pertod of at least iwelve month5 from whtn the accoun15 are authorised foi. issue. Our respollsibilities and ihe responsibilities of the Irusiee% with respect to Boitjg conc￿￿ are descTibed ill the relevant sections of thi5 Teport. Othei. information The Irubtecs are responsible for the oiher information. The other infonn8lion Compr￿seS the infonnation included in the 'fTUS(ets' Report and Accounts. otherthan the a￿oUnt5 and our auditoi's reporl theTeon. Oui. opinion on the accounts does ot cov¢r the other information and, except lo tht exlenl OthE￿iSt cxplicitly qiated in our ryort, we do nol cxpress any form of a55urance conclusion ihciron. In connection wilh our audit of the accounls, our respottsibility is to read the olhei. information and, in doins so, consider whethei. the other information 13 malEiially inconsisient with the accounts, oi. our knowledge obtained in the cours¢ of the a￿dit oi. oiheNvtse appears to be materially mis%latcd. If we identify such material in¢onsistert¢i¢5 or ippai'enl material mi5slateTnenlS. we are rcqu&red to determine whethei. there is a maierial misstatemcnt in the accoun1% or a material missialem¢ni of the othcr infomialion. Il., based on Ihe work wc have performed, we conclude thaÉ there is a matcrial tnisstalemenl of thi5 other inlormation, we are requiird to I￿￿rt thai facl. We have nothing to repoit in this reg2rd. 22 THC CONGREGATION OFTHESISTERS or ST MARY OF NAMUR CIO YEAR TO 30 SEPTLMBER 20Z5 INDEPII NDENT AUDITOR?S REPORT TO THE TRUSTEES OF THE CONGREGATION OF THE SISTERS OF ST MARY OF NAMUR CIO (continued) Matt¢r5 Ort which we ar¢ required to report by ¢x¢eption We have nothin8 to Teport in resPCCt of the folloiving matters in relation to whi¢h the Chai'ities (Accounts and Repor151 Regulations 2008 rcquire us lo rEporl to you if, in our opinion.. the informalion given sn the tiusiees, rew)it is inconsistent in any m&lerial respect with the accounts. oi. sufficiertt gccounting re¢ords have nDt been kept,. or Ihe oc£ounts are not in agreement with the a¢¢ounting r￿OrdS aiid returns. or ve have not received all the infoi'illation and explanations we requEIE for oui. audit. Responsibilities ot trusttes As explained rnDr¢ fully in ihe gtatemeiitof trustees, responsibiliiie5, the ri'ustet5 are r&sponsible for fhe preparation of the oc¢ounts and f()r being satisfied that they give a ti'ue and fair view, and for such iDlernal control as the tiusleeq dctei'minc is necess&ry to enable th¢ prepaixtion of accounts that are fiEC from material misstatemcnt, IvhEth¢i' due to fi'aud or error. In preparing thc accounis, the trustees are responsible for a55essing the charity's ability to cottlinlie a5 a going concern, diselosing, ￿ appliGable, matier5 ITlaLed to going conceim and using the going concern basis ot accDunting unlLSS the trugt¢es either intend to liquidaie the charity or to ceasc operations, or hav¢ no realistic alternativt bui to do so. Auditoi s re5P0115ibilltie5 for tILe gudit ofthe 4tcounts We have been appointed as auditor under scclion 545 of the Ch&iities Act 2011 and rewrt in accordance with regtslations made under section 154 of thai Acl. Our ohjEclives are tl) obtain re￿nable assurgnce about whether the attounls a5 8 whole are fr¢e from mater121 misstatement, ￿.hethttr due to fi?ud oi. error. and lo issue an auditor's report that inolude8 our upiniun. Reasonable a5suran¢e is a high level of asburance but is not a guaixntee that an audit Conducted in aLtoi'dancc with ISA5 (UK) will always detect a malei'ial Ini5$1diement when it exists. Misstatemellls can arise from fixud or ei'tDr and are con8idcred material if. individually or in the aggicg8le, they could rtasonably be expect￿ to Infl￿enCe the economic de¢i$ions ot. U5cI's taken ots the basis of these accovnls. Ti'iEgulai'itlCs, including fraud. are instances of Don-compliartte with laivs and regulationy. We dLsiBn procedures in line with our responsibilities, Outlined above. io delect rnaterial misslatemenls in re5P¢Ct of irregularitics. inuluding fiÈud. The extent lo which our procedute5 are Gapable of detecting iNegularities, including fEaud, is detailed below. Ext¢￿t to wh5ch the ANdlt was considered capable of detecti￿8 irregularitits, liJcludinE frmud We identify and assess the r￿Sk$ of materi#l misstatement of the Rccounrs, Ivhether due to fraud or errol., and thcn design and perfortn audit proceduresresp0115ive to ihoserisks, iD¢luding obtainingaudit evidencethat 15sufficielltand appropriate 10 provide a basis for our opinion. Identifylng and assessing pot¢tttial ri5k$ rtlAted to irregulArities In identifying and a5sessin8 risks of material missiatement in Tespect of iritgularities, including fraud and non- compliance with laiv5 and rc8ulatiorts, we con5idei.ed Ihc lollowing.. the nature of the chai'ity's activitics. ¢onlrol enviiDnment alld performance. th¢ Charity's own qssessmeniof the risk5 that irregulai'ities may occur either as a r￿￿1* of fraud or error,. the results of our enquii'ies of Management and membei's of th¢ Board of TrustE¢s of their own identification and assessmenl of the E&sks of irregulai-ities- 23 THb CONGREGATJON OFTHE SISTERS OFST MARY OFNAMIJR CIO YEAR TO 30 SEPTEMBER 2025 INDEPLIIYDENI. AUDITOR'S REPORT TO THE TRUSTEES OFTHE CONCREGATION or THE SISTERS OFST MARYOF NAMURC.10 (continued) any matters we identified having obiained and reviewed the churity's documentation of IEl¢vant policies and proccdures; identifyin8 and evaluating compliance iyiih law% ￿nd Ir8ulations and wheihci. the tiwstees weiE aware of any inylances of non-coinplianee., detecting and responding to the ri%ks of ft?ud and i¥heth¢r the ti'ustels have knowledge of any actual, su5pectcd or alleged fraud. and the intei'nal Conti￿15 established lo miiigate ¥isks nf fraud or non.compliÈrt¢e ivith laivs and regulations,. attd the matters discusscd among the audit engagement tearn iegarding how and ivhere fraud might oceui. in the linancial statemet)ts and any potenlÉal indi¢atois of fraud or em)r. As a result of these procedures, we consid¢rcd Ilie opporlunilies and inccntlves that may exist within the oi'kanisaiion for Iraud and Td¢ntified the great¢st potential for frau(l in Ihe fDllowing areas: {il The presenigtion of the cliarity's 8iaicmenl of Financit)l Activitic4 (ill i'evenuL I'eco£ni(ion liiil the valiialion of inv¢%lrnenls, and {iv) tlie over5tatcmenl Of costs. In cvrnmon with all audils undei. ISAS IUKI. we are also i"equii'cd to rform specific proctdurcs to Ir5pond ts) the risk of managemettl ovcrride. We also Dbtsined an understandirtg of the legal and regulatory framework that the Lhari¢y operate5 in. focusing on prov15iOt3s of those laws and ￿gUlatIonS that had & diirct etTeGI the detei'mination of matei'ial amounts and disclosur in the financial slalemenls. The key laws and regulations we considered in thi5 cont£Yt included Iht Chai'iiie5 Act 2nd i'egulations made Ihei'eunder #nd the Sl&rementof Recommended Praclice-'Ac¢ountingand ReJK>iiing by Chdrilie5' issued by the jaint SORP making body. In a(kJition. we considered pruvssions of other laiv5 and iegulation$ that do not have a direct effect on the financial stateineiils but Lompliancewiih which may bc fundamental to Ihc chariiy's ability to opeialeoi. lo avoid a matei'ial penally. These included Safcguardtnu Data PFoltction. Audit ￿SPOIlse to i.lsks identifJ¢d As a I'esuli of pei'forming the above, lye identified the pi'esentation of the ehai'ity'5 Statement of Financtal Aeiivities, Irvenue recognition. tht valualion nf inve5tmeJils and the ovei'slalement of costs a5 the key avdit tnatlers relatcd lo th¢ potential risk offiTrud. The specific pJY)tedures ive ￿rformed in rtswllse lo the key risks identified incliided.. i'¢vieiving the a¢eounts disclosu¥es attd testing lo supporting documentatioa to &8$ess complian¢¢ with rel¢vant law.8 and regulations d¢scribed above as having a direci effccl on the accounts. enquiring of management8nd members Df the Board ofTNstees conccrning aGtual and potential lilig21iotTr and tylaims., performing analytical procedures to identify any unusual or un¢xp¢cted relaiionships that may tndicate risks ol. matei'ial misslatthient due to Iraud. reading minutes of meetill85 of thos¢ chatEed Kvith govemonce and reviewing COFre5ponden¢e with relevant authDrities where matters identified wei'e gignificant,. in addressing ihe I'isk of Iraud through managemenl overrideof controls, testing the appiDp17ateness ofjou1i81 enti'ies and othcr adjustmenls., assessinx whether the judgements madc in making accountillg esiimdleb al'e indicative of a potential bias. and evaluating the bLEsiness I'atiunale of any significani Iransaction5 that are unusual or Outside Ihe norrnal Coui'se ofbusines5. We alsa ¢OmrnU￿i¢ated relevant identified laws and regulations potential fraiid risks to all engagement learn members and remained alert to any tndicatiolls of fraud ot. tton-complian¢¢ with laws &r>d regulations thi'ougliout the audit. 24 THE CONGREGAfioN ofi THE SISTE4RS OFST MARY OF NAMURCIO YC¢AR TO 30 SEPTEI MBER 2025 INDCI PBNDENT AUDITOR'S REPORT'fo THE TRUSTEES OF THE CONGRECATION OF THE SISTERS OFST MARY OFNAMUR CIO (continued) Audltor's iYsp(bnslblllties foi. th¢ ludlt of the accounts Icontinu¢dl A fuTthei' desci'iption of our iEStQllsibiltlies for ihe audlt ofthe finallcial Stslcrntnts is located on the FinanGio1 Reporting C(iuncil'5 wcbsite at ivww.fiL.oig.uklauditorsi'e5ponsibilities. This d¢sci'iption f01Th5 PO¥( of our audi¢(Ir's report. U5t of olli. i'eport This report 15 made solely to the rharily's tiustres, as a body, in aL¢ordance ivith Part 4 of the Chariiies (Accoun15 and Repoitsl Regulations 2008. Oui. audit work has been undcjtaken so that Ive n)ight slate lo the ohai'ity's tYUSteL'5 those mattcrs we arL requii'ed to state lo than in an aiiditoes retmjit 811d for no othcr puiyose. To Ihe fullest extent P¢Tmilted by l&Nv. we do not accept Dr assumc i'cspon.%ibility lo anyon¢ otlier than ihe charily and the ¢haiiiy's trustees as a bDdy. foi. OUT audit wot*. for Ihis report. or for the opinions we hive formcd. PLLlab J.£a CLd)I_LA Mitchell Chai'lesworth (Audit) l.in)iled 14th l."loor The Plaza IOD ()Id Hall StIECt Liverpool leT%eyside L3 9QJ 8 May 2026 MitGh#ll charl￿5￿¥0￿h is cligible to act 8% an auditoi. in terms of scction 1212 of the COm￿nieS Act 2(M)6 25 THE CONCRII GATION OF THE SISTF.RS OF ST MARY or NAMUR CIO STATEMLI NT OF TrINANCIALACTIVITIES FOR THC YEAR £INDLfD 30 SIÉPTEMBER 2025 Unrestricted Restricterf Fund5 Fullds 2025 Total funds UnrtSli'￿¢ted R¥stricled Funds 2024 Total funds Noltts INCOME FROM.. Donations and legacies 262,268 262,268 269,979 650 270,629 Investme¥Lls artd bank dep(1511s 159,85 159,858 182.934 182.934 Other Suiplus on disposal ofiangible fixed as5els 3,249 3,249 3.700 3,700 TotAI lThtome 425,375 425375 456,613 650 457.263 EXPENDITUIiE ON: RAising funds Tiiveslmenr rnanagemenl fees 50,305 50,305 38,841 38,841 ChAritible aetivliles Donations Support of membeis of th Congregation and Iheirmini51ry 35.671 35.671 60,591 400 60,991 341,744 405 342,149 297.396 297,396 TotRI Kxpenditure 427,720 405 428,125 396.828 00 397.228 Net incomellexpenditure) beforE ¥Minslllosses} on investmrJ)15 12,1451 14051 (2,750} 59.785 250 60,035 Other recogtti$Ed gAins #nd losses Nel gainslllosst81 on investmen15 536.849 536,849 537.082 537,082 Net incotnelleyp¢nditur¢l And net movetn¢nt in yeAr 534,504 1405) 534,099 596.867 250 597,117 Recontilisiioll of fund5'. Total fiinds brouBhi foriwd al l Odober 2024 8,9811,$lJS 405 8,981,210 8,383.938 155 8,384,093 Total funds cHrried fonvxrd at 30 S¢ptembti. 2025 £9.515,309 £ 9 JI.%J09 £8,980,805 £405 £g,9È1,210 All ol'the charily's tctivÉlies derivcd fiDm continuing operation5 during the #bove periods. All reeognised gains and losses are included in the above Stalemeni of Financi21 Activilits. 26 THECONCREC.ATION OF T14E SISTERS OF ST MARY OF NAMUR CIO BALANCL SHEET ASAT3V SEPTEMBER2025 202S 2024 Notes FIXEDASSETS Tangible fixed asse15 Investment5 io 1,869.983 7,356,589 1,878,307 6,663,745 9,226.572 8,542,052 CURREiYT ASSETS Debtors Cash at bank & in hand 12 10,983 620,603 24,179 741,155 631,586 767,534 CURRENT LIABILITIES CRLDIT()RS.. Amounts falling due NvitSiin one year {342,8491 1328,3761 NET CURRENT ASSETS 288,737 439,158 NET ASSETS £9,515J09 £8,981,210 RC4PRESENTED BY: FUNDSAND RKSERVES Rcsiri¢ied fund5 14 405 Unrestriclcd funds Gencral fund Tangible fixed assets fund Dtsignated funds 645,326 1,869,983 7,000,000 .191.4()8 1,878,307 5,911,000 15 16 9.515,309 8,980.805 £9,515,309 £8,981,210 Approved by the Irustee5 and sI￿¢d on their bchalf by.. Sister Doreen Bradley Trusiee Approved by the trustee5 On 18 May 2026 27 THE CONCRCIGATION OFTHE sKsfERS OV STMARY OF NAMUR CIO STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEP'fEMBER 2025 Notes 2025 2024 Cs$h flow$ from Oper&ting Activities Nei rash used in operating &ctivilies {114,554) 143,633) Casli floivs froin investtng activities lllvestment inconie aiid interest received Receipts fi'om sales of fixed gsset5 Payments tri acquire fixed asseis Paym¢nls lo acquiie inveslrncnls Re¢eipt5 from sales of investments 168,797 3,250 124.250) 1863,253} 861,456 177,218 3,700 134,1441 11,364,297) 1,412,929 Net tAsh generated by inve5¢ing attlvlties 146,000 195,406 Cliang¢ Tn casll c#sh equivalents in the ytA 31,446 151,773 Cash atjd oH5h equivalent5 at l OctobLr 2024 Re-¢lassificalion of y)rtfolio bank account from Cash lo Investment5 854,832 12()5.675) 703.059 Cash and cash eqtsivalents at 30 September 2025 £620,603 £854,832 Not¢5 to the ¢a$li flow $tatement A. R¢concilEatiofft of net iiicorne for the year to net cAsh used In operating i¢tivities 20LS 2024 Net expenditEire for tb¢ yettr lgs per the Statemcnt of Financial Activitie51 534.099 597.117 AdjLl$tmeiits for t)epreciAlion charge (Gains) on irtvtstrnenls Inve5lmenl in¢ome arid intthest IE¢¢ivable Isuiplusl on disposal of fixcd asscts Decie8s¢ in debiors Ina'ease in ciEdilors 32.573 1536.8491 1159,8581 {3,2491 4257 14.473 29,747 1537.082} 1182,9341 (3.700) 266 52,953 Net CAsh used ill oper#ting attlvlties £1114,554} £{43,633} B. AnAIy5is of cash #nd cash £quivaleDt$ Cash al bank and in han Poitfolio Capital Bank A¢count 620.603 589.157 154,198 Portfolio Accumulated Incom¢ Bank Account 620,603 743,355 111,477 Total cash and cash equivalcnts £620,603 £854032 28 THI CONGRECATION OFTHE SISTERS OF ST MARY OF NAMUR CIO STATEMENT OF CASH FLOWS (¢olltinuedl riOR THE YEAR ENDfkD 30 SEPTEMBER2025 Al S Oclok¥ 2024 Re-cl&8sification from Cash to Inve5tTnen15 At30 September 2025 Cashflow5 C. Anxly$is of cha￿geS im net t&sh fund$ Cash at bank and in hand Poilfolio Cdpiial Baiik Account 589,157 154,198 31,446 620.6U3 1154,198) 743 J55 1154,198) 31.446 620,603 Pottfolio Accumulated Income Bank Account 111,477 1111,4771 TotPLI cash and cash cquivalenls £854032 £1265.675) £31,446 £620,603 No separate slatemertt of changes in nei debl has been prepaTed as there is no diff£iencc beiween the movemeDt5 to cash ond cash equivalenls and movements ITr net cash Idebl). Sums held by the fund mdna8ei' in porltolio b8nk accounts have now bcen r¢-¢las8ified 10 Inv¢5tm¢nts fTom Cash at Bark and In l-18nd. as il is felt that Ihis better irllecls th¢ mallnei. in which Ihe balances are to be managed. 29 THE CONCREGATION Ob THL SISTERS OFsf MARY OF NAMUR CIO PRINCIPAL ACCOUNI'ING POLICIES FOR THE YEAR ENDED30 SEPTEMBER2025 The principal accounting policies adopted, judgern¢nls and kcy sourc¢5 of estimation uncertainly in the pi'ep8ration ol. the accounts are out below. Bfjsls of prep*i'atio -rh¢se accounts have been pirpared for the year lo 30 Septcrnber 2025 with ¢otnparative information given for the yeth. 10 30 Seplctnber 2024. The a¢Lounls h&ve been piEpai'ed u￿der the historical cost convention with Flems IE¢ognised ai c05t or transaction value unless alheiwise slated iii the relevant accounting poliLies below oi. the not&% 10 th#¢ accounts. Th¢ accounts have been prepaiEd in accoiylance with Accouniing and Reporting by C.haiities: Statement of Recommended Praeticc applicable lo ¢hai'ilies piEpaiing Iheii. account5 in accordance ivith the Financial Reporting Standard Jpplieable n th¢ United Kingdom and RcpubliL of Tre18nd (Charities SORP I-'RS 1021, Ihe Financial Reporiin8 Standard applicable in tht UK and Republic of li'eland IF'RS 102) and ihe Chariti&% AGt 2011. The chai'ity ¢onstilutes e publi¢ bcnefit entily as dcfined by FRS 102. The aceounls are pre5enied in sterling and are rounded to the nearc5t pound. CritlCAI Retou￿tIng estimates areas of judgement Preparation ol the accounts rcquires the truste¥s lo make signifi¢#nt judgem¢nt3 and esiimates. 'rhe items in the aeLounis wherc the5tt.jlldgem￿f5 and estimate5 have been mad¢ include.. estimating the useful economi¢ life of tangible fixed assets foi. the purpose of calculating lh¢ deprerialTon eharge. determining the vAliie of de5igMaled lunds inGludin8 the determination of the assumptions made ill determining the value of Ihc rcliremenl fund, and estimaling future in¢ome and expcndiliire floivs lor the purpose of assE55ing going contrm (see below). Asstssment of going eoucern The li'usteE5 have assessed whether IhE use of the going concein 8ssumpiion is appropriate in prepai'ing Ihe%e accounts. The ti'uslees have made this ass¢ssJneni in re8￿Ct lo a period of at least one ycar from Ihe dai¢ of approval of the accounts. With regard to lh¢ nexl accounting pcriod, the ycar eliding 30 September 2026. the m05t sixnificant area5 that affe¢t the cariying value of the a55el8 held by the charity are the level of investment i'eturii and the perfomiance of the investmEllt mai'ket, This is parliculai'ly rclevant al the currtnt lime 8i¥en the wtenlial lor volRtilEty in woi'ld Stock markel5. The trustces consider that the charity will be able lo meet lis liabilities as they fall due and that it is a giJin8 concern. The (rusiees have assessed whether the use of IhL goin￿ conccrn &s5UmPtion is aPPlYJPTi8te in preparing these account5. 'Fhe Iruste¢s have made this asse55meni in respeGt lo a period of onc year from the dale of approv#l of these areounts. 30 THE CONGREGATION ofi THE SISTEIIS OFST MARY OFNAMUR CIO PRINCIPALAccouiwfiNG POLICIES FOR'fHE YEAR CNDED 30 SEPTEMBER 2025 Iijeome Yecogllitlon Income is re¢owised in the wiod in which the ¢h8rity has erttitlLment to Ihe incorne, th¢ amounl of income c4n be rnea5vred rtliably. and it is probHble that the incorne will be received. In¢oine eomprises donations and legacies, inv¢biment incorne and interest receivable and other income iR¢liiding Ihe surplus on the disposal of iangible tixed &ssds. DonJtions, including salai'ies and p¢n5ions ot. individual religiou5 fEceived iindei. Gift Aid or deed uf covenant, ar¢ recognised when the chai'ity has confii'fflation of both thE amount and seltlemeni dat¢. In the eTrent of don4150ns plcdged bul not re¢eived, IkLe amount is accrued fDr wherc the i'eceipt is ¢onsideiEd prob&ble. In the event that a donation is subject to conditions that requirc a level ofpei'foiThancE bcfore the charity entitlc(I 10 the funds, the incon]e i.s defei'red and not recognised unttl cither Ihose conditions aiE fully mcl, or thc fullilmcnt of Ihost condition$ is wholly within the ¢ontrul of the charity, Ind it is probable Ih&l thDse conditions will be fttlfillcd in th¢ 1"eport￿llg period. In accordance with the Charities SORP FRS 102 volunlecr time is nol recugnised. No monelary value has been placed on admini5lrativ¢ and other sevvices pix>vided by the membcrs of th¥ CongregaliDn. Lcgacies air ittcludcd in the stat¢Thcnl of financial activities when the chai'ity is entitled to the legacy, the executors have established Ihai iheYE #l'e sufficieF)I surplus ass¢lS in th¢ csl&te lu pay thc Seg&cy, and any ¢onditions aiiached lo the legacy are Nvithin the cotttiDI of the charity. Entitlement 15 taken &s the earlier ofihe d#le on whi¢h eithei.: the charity is aware that pl￿ba￿ hfjs been granted, the esiaie ha8 bcen fiii81ised tnd notification has beLm made by Ihe executOT to the charily that a distribution will bE ttiade, oi. when o distribution is TEceived fTOrn the estate. Reeeipl of a legacy, in whole or in parl, is only considered probable when the amounl can bc measuird reliably and the Ch￿'Ity has betll notified of the executor's %ntcniiDn lo make a distribution. Wh¢ir legacies have been notified to the chaiily. or th¢ Charity is aware of the grat)ting of piubote, but the criteria lor in¢ome recognition havc not becn met, then the legacy is liEated as 8 tontingent asset and disclosed if material. In the venr (hat the gift is in the form Of an a5S¢t other than cash or a financial asset traded on a recognised 510¢k exchang< recognition is subject to the v&lue of the gift being r¢liably measurable with a degree of reasonable accuracy and the title of the asset havin8 being Lvansferred to the chai'ity. Investment incorne is reco8ni5ed once a divid¢nd has been declared and notifjcalion has been re¢eived of the arnount due. Interest on funds held on deptisi( ss included when rec¢ivable and ihe amount be measuiEd rcliably by the charity* this 15 normally UPDn notification of the interebt paid oi. PAy&ble by the bank. A surplus on the disposal oFtangible fixed assets is defineLI as thc difference betNveeD the sale proceeds alld the nel book value of Ilie asset al the time of disposal and after dedu¢ling any Costs ￿soCI#l¢d with the disposal. 1.he surplus 15 i'ecognised at the timc when legal completion ol'the Sale takes place. Miscellaneou5 income is the3sllred at fair value and &¢counted for on an accruals basis. THE CONGRbCATION OFTHL SISTERS OF STMARYOFNAMUR CIO PRINCIPAL ACCOUNI'ING POLICIES FOR TFIE YLAR ENDEID30 SEPTEMBER2025 Expenditure recognitioij Liabiliries arc I'ecogni5ed as expundilure 2$ soon as th¢ie is a legal or conslriictive oblEgation ctsrnmilling the chariiy to make a payrnent to 3 third pai'ty, it is probable that a tran5fLY of economic benlfils will be Irquired in setLILrnent and the amount of th¢ obligation Can be measui'ed IEliably. All expenditure is accounted tvr on an accruals bas15. Expenditure comprises diieci Losts and support CQSls. All expenses, illcluding supptsrt COSIS. are allocated oi. apportioned to the applicablc expenditur¢ headings. Th¢ classitÈcation between a¢tivitits is as follows.. + Expendiiuir on i?issn8 funds includes expenditure a53Dcialed with i'aising funds for the charily. This cornpri5¢s those inveslmcnt managetRcnt fets charged dirLYtJy lo Ihe charity. l.ets in re.%pect lo IhDse invL8tments wliiLh ¢omprise pooltA irtvesimenl vehicle4 in¢ludEng ¢iinimon investment fund5, are inhei'enl within the rclevant investmenl holding. • ExpeftdituJT on Charitable activities includes all ¢us15 associated wilh ￿rtherIn81he chai'ilable purpos&s of the charity Ihrollgh the provisÉon of tis rharilable a¢tivities. Such costs inGlude diiE¢t and Indir￿1 ekpendTlui'e itt ie.spect to the 8LiPPOIt of member5 of the Congiegation and enabling their ministry (including goveTnatJce ¢Dsls) and the pi'ovision of Lharitable grants and donations. • The PlDvision for any ifftpairment in respe¢t to the charily's tangible fixed assets. Charilable donatlOll5 art made whei'e the ITuslees ¢on5ider Ihete 15 real need following a i'evietv of the delai15 of each particulai. ¢85¢ alld comprise single year paymcnt5 rather than multi-year granls. DonatlQll5 are ill¢luded in (he slateinent of financial aclivities ivhen approved for paymcnt. Provision is made for donations approved but unpaid al the period end. All expenditure is stated inclusive of irrecoverable VA'F. AllocAt]D￿ of Support and goYei'nan¢¢ ¢ost5 Support Costs. repir5cnt it)dire¢t chanable expenditure. In order to can'y out Ihe primary purposes of the charity il is rt¢ce5sary io provide support in the foiyn of personnel development, financial procedvTC5J provision ofoifite serviceq and equipment and a suiiablc ivorking environment. Governancc cosls ￿￿wiSe the costs involving the pvblEc aceouiitability of the charity {incliidin8 audit costy} and costs ill i'espect lo its wmpliance with regulation and good practice. Support costs and governance eosts air allocaied directly to 5UPPOrt of member5 of the Congregaiion and their ministry. 32 THE CONGREGATION OFTHE SISTERS OFSTMARYOF NAMUR CIO PRtNCIPAL ACCOUNTING POLICIES IOR Tl.If YEARENDED 30 SL4PTEMlJllR 2025 I'Aiigible fixeil as5e¢s All gssets costing mole than £1,000 and wilh an cKpe¢ted uscful life ¢x¢¢edin8 onc year gre e2Pltalised. All assets are stated at cosl. i. rireehold lartd AIL(I buildlngs Non-specidlised land and building5 COmPTlSt buildings designed as. and used for. private residential accommodation. They ai¢ stated at C05t. Such buildings are not dtpi'ecialcd. An impasrmenl review in Ye5PLcI to pi'opLrly assets is c&ri"itd out if events, or Lhanges in ¢ir¢umstanc¥s. iiidicdte that thc caiiying value may not be i'ecoverable. Oihei'wi5e, their value and condilion are revieived annually by the li'ustees. who are %otisfied that ihcir residLFal value is t)ot maiei'igtlly less Ihall their book value. SpecialisEd buildin8s comprise large re51d¢ntial convcllls. They air stated at cost net of dtPTeciati()n. Dcprcciaiion is pi'ovlded ai 20/0 per ap.num on a 51raighi-line basis in ol'der ID i¥rite olf the buildings ovcr Iheir esiin)aled useful economic life lo the chai'ity. Items of plattts thal are integrol to the building are deprcGiated ovei. theiT useful e¢onoTnic life of15 ye&rs. 2. furnltui'e, fittingsi equipmcnt motoi. vehiile5 Expenditui't on the puicha5e and rtplacemLrtt of fumilure, fittings, equipmeni and motor vehicles is capilalised 8nd deptcLiat¢d ovtr a five or t¥n ye*i' pcriod on a sti?ight linc basis. Inve5tmenl$ Listed investment5 a form of basic finAncial In5trutnent and ar¢ initially recognised at Iheir transaction value and 5ubKquently rneasured at Iheii. fair value as at the balance sheet date using the closing quoied M￿.k£t price. The chai'ity dDes not acquire put option5, deriv8tives or other complex fin&ll¢i*l instrumenls. As noltd above. thc tnain fomi of finallcial risk faced by the Eharity is that of volatility in equity market5 and investment maikets dut lo widcr ¢¢onomic conditlnllS, the attitude of investoi's to inveslment risk. and Chang￿ in sentim¢nt COÉLc¢ming equilie5 snd within parti¢ul2r sectoi's or sub sectors. Realised gains (or losse51 on invEstment assets are calculated as the diffcrcnce between disposal pro¢eeds and their opeiiing carrying value or Iheii. purchase valu¢ is &cquircd siibsequetit to thc first day of the financial year. Uiirtralised gain5 losses are calculated as the differettct between the fair value at Ihe peithod end anLI thekr cariyillg value ai that date. R¢alised and unrealised investment gain% (0I'1055es) aTe combined in the statement of financial activilies and are ei'edited (oi. debited) in the period in Ivhich they al'￿5¢. Debtor5 Debtol's are ircognised at their setilement amount, less any provision for noll.i'ewverability. Prepyyments arc valued at the amount prepaid. Thcy have been discounl¢d lo the present value of the fvtur¢ casl) receipi where such discouniing is mata'ial. They have been discounted to Ihe present v&lu£ ol'the futuir eash recetpt where m8terial. Cash at in hAnd Cash at bank and in hand repres¢nts such accounts and instrurnents that are availablc on demand OT have a maturity of less than thre¢ months from the date of acquisitiort. C.reditor8 aDd provisions Ci'editoi's and provision5 are IEco8nised when ihere is all obli8aiion at the balaD¢e shcet date a5 a Tesuli of a past ¢vehi, it 15 probable that a traiisfer of economic benefit will be rquired in settlement, and the amount of the SLltlerneiit can estimated reliably. Lreditor5 8nd provisions are recogni5ed at the amount the Lhdrily anticipates it WILI pay lo settle the debt. Th¢y have been dis¢ounted to the present value of the tuLui'e payment where such discounting is material. 33 TIIE CONGRECATIOfiY OFTHE SISTIIRS OFS'fMARY OF NAMUR CIO PRINCIPAL ACCOUNTING POLICIES FORI'FIE YL¢AR CINDED 30 SEPTEMBER 2025 Fullil struttttre Re8tricled funds are monies raised for, and theii. used resiricted to, a 5￿CiFiC purpose, or donglions subje¢l t(} donor imposed condilior*s. Designaled funds are monies set aside of uniEsti'irted general funds and desi8nal¢d foi. specific purposes by the trustec5. l-he tangtble fiyd a55els fund comprises the net book value of charily's tattgiblv fixd assets, Ihe ¢xistencL of which is fundamenlal to the charity b¢ing able lo pei'fomi ils Ehai'itable ivoi'k Jnd thereby acliicve its ¢haritable objectlvcs. The valuc ieprescnted by such assets should not be i'egai'ded, Iherefore, as rEalisablc. General funds repir8ent those rnnnics that aiE freely available foi. applicali(In towards achi¢vin8 any th&rilable purkx)se that fall within the charity'5 chariiabl¢ objects. 34 I'HE CONGREGATION ofTFIE SI,STERS OF ST MARY OF NAMURCIO tYOTES TO THE FINANCIAI. STATFMENTS FOR THE YEARENDED 30SEPTIMBER2025 WROM: DONATIONS AND LECACICS Unrestritted RestriLted Futtds uiids Total 202S UnFCStricled Funds Resiricted Funds Total 2024 Si5tets' salarie5 and pensions Donaiions 262,268 262,268 268,239 1,740 268,239 650 £262,268 £262,168 £269,979 £650 £270,629 INCOM￿ FROM: INVCtSTMENTS AND BANK DEPOSITS Unre$tritted Restrictcd Furtds Funds Totxl 2025 Unte5tri¢led Funds ResiriLied Functs Total 2024 In¢ome from listed inveslmcntS Bank interest 152,582 7,276 152,582 7,276 174.770 8,164 174,770 8.164 £159,858 £1S9,858 £182,934 £182,934 EXPfiNDITURE ON.. DONATIONS Unrr$tritted Restritttd Vunds Furtd8 Total 2025 Untesir*cied Funds Rcstricted Funds Toral 2024 Congregation's Gencralal¢- Annual contribution 20,000 20,00 20.000 20.000 CoDgregaiiiFn's overseas mission in Democralic REpublic of Congo. Brazil and Rwanda Other donations10 Drganisations of less Ihan £5.000 egch 15,016 1SJ)16 39.576 39,576 655 655 1,015 400 2025 total funds £35,671 35,671 £60,591 £400 £60,991 EXPEND11'URE ON.. SUPPORTOF MEMIIF.RS OF THE CONGREGATION AND I'HEIR MINISTRY Unrestricted Re5trsCted Funds Funds Unre51riLied Fuiids R¢stricied Funds Total 2024 2025 sthff rvqts (not¢ 7} Pr¢mists and cquipmettt costs Sisitrs, living and ministry exprn$es Provisions and household Spiritual foimaliotts, retr¢ais, etc. Depreciatitsn Support costs - General expen5¢5 Professional fees Governance c051$ Inoie 51 24,617 73,366 106,105 51.725 1.152 32.573 24,617 73,366 106310 51.725 I,isi 32.573 36,S69 64,186 73,696 53.703 3.975 29,747 36,569 64.186 73.696 53,703 3,975 29,747 405 17,354 9,052 25,800 l7,354 9,052 2SJ300 12,604 6,432 16,484 11,604 6,432 16,484 2025 toial fund5 £341,744 £405 £342,149 £297,396 £297,396 35 THL CONGREI GATION OFTHE sis'fERS OF ST fvIARY OF IYAMUR CIO NOTCS I'O THI:, FINANCIAL STAI'EMENTS Icotttinlleil} r4OR THb YEAR ENDfD 30 SEPTEMBER2025 GOVERNANCL COSTS Total Toial Unrestx'S¢tcil 2025 2024 Audifor5 remuneratio Audit Fee Currelll year Other services Prior year under-a¢Lrual in pi'ior year 13.920 15,360 7,080 21,000 15.360 ProfessiotiAI fees 4,800 1,124 2025 lol21 lurtds £2.5,800 £1fj,484 NL4T MOVEMEIYT IN b'UNDS FORI'HE YEAR Total 202S Total 2024 This is si&t¢d after ¢haiEingllcreditingl'. Staff Costs (note 71 Auditor's iemuneration lincludillg VA-FI.. Stalutory audit fees oiher services- prior year under-aecrual Operating lease costs Depreciation 24.617 36,569 13,920 7,080 Is,￿0 3,538 32.573 3,830 29,747 STAFF COSI3 Total 2025 Tolal 2024 Staff costs during the year ivae as follows.. Wa8e5 and s&lai'i&8 Social se¢urity costs OiheT pension costs 24,617 36.569 £24,617 £36.509 No employees eained £60,0110 pcr annum oi. more (excluding employer's pension contribulion5 but *n¢luding benefTrtsl during the year (2024- non¢l. The &vera8e number ofemploye¢s, analysed by fullction, W￿.. 2025 2024 No. 8upport of memb¢TS of the Congreg&liort and their ]Ministry 36 THE CONGRE4C.ATION OFTHk SISTERS OF STMARY OFNAMUR CIO NOTES TO THE FINANCIAL STATEMniNTS (eontiTLued} FOR THLI YEAR ENDED30 SEPTfiMBER2025 KEY MANAGEMENT,TRUSTE&S' IXPENSES AND REMULYERAI'ION AND TRANSACTIONS WITH TRUSTEES The char*ty'3 trustees are all members of the Congregation and consequently thcii. livin8 and pei'sonal expenses, all ol which ¢onsistellt with amounts paid respeLi of other tnemba'5 of the COn￿"egatiOn. aiE bome by the liai'ity. No Ii"usle¢ i'cc¢ived any r¢munuation or reiTnburscm¢nl of expcnses in conn¢ction wilh their dulles Irustcts. As membtr5 of IheCongiEgation. none of the li'uslces have Yesources ot'their own. All eaming5, pensions and oiher in¢ome have b¢en donaied lo the charity undei. a Cjift Aid compliant Decd of Covenanl. During th¢ year, the iotal amount dunated by th¢ trustee5 to the charity Wds £68,964 {2024.. £66.7861. Ai ihe y¢ai' end. Ihe Chai'ity also held amount5 totalling £216,44212024.. £276,442} payable to trustees in respcct of fullds held on their bchalf. TAXATION -rhe charily is exempi from t&x on income and gains falling within section 505 of the Taxts Act 1988 or section 252 of iheTaxatioll of Chargeable Gains Act 1992 to the extcnt tlLat these are applia 10 ils charitable objccis. 37 THE CONGREGATION ofÉ THESJSTERS ofsT MARY OF NAMUR CIO NOTES TO THE FINANCIAL SI'ATEMENTS (tDntinueill FOR THE YEAR ENDED 30 SEPTfMBEI R 2025 10 TANGIBLE FIXTr:D ASSETS Land And Buildillg$ Yyrnilure Filtings and EquipJnen* Motor v¢hicles Speciallstd TOTAL Cost or valuation Al l Oaobcr 2024 Additions D&spu5als 1,062.099 I,100.L38 59,427 24,250 113,3941 92,638 2,314 J02 24,250 129,6831 (16.289) AI 30 Scpiembei. 2025 1,062,099 1,100.138 70.283 76,349 2JO&869 AccumLEI*ted Dtprcciatio]J AI I OLlober 2024 ChargL foi the yeai. Eliminated on diS￿saI 340,972 17.000 51,809 8,658 113,3931 43,214 6,915 116,2891 435.99S 32573 (29,6821 At 30 September 2025 357,972 47,074 33,840 438,886 Net book value At 30 September 2025 £1,062,099 £742,166 £23209 £42.W9 £1,869,983 AI 30 SeplembLr 2024 £1,062,099 £759.166 £7,618 £49,424 £1,878,307 38 THD CONGREGATION OFI'HE SISI'ERS OFST MARY OFNAMUR CIO NOTES TO TIIE FINAIYCIAL STATEMENTS Icontinlled} FOR THE YEAR ENDED 30 SEPTEMBLR2025 INVESTM&NTS Total lotal 2024 Quotcd Investinent5 Market value at 30 Sepienibei. 2024 Re-Cl￿Sitication of cash held by Fund Managers 6,663,745 6,175,296 554,198 AdditlOll5 at wst Disposals lat book valu¢l Proceeds Gal1t￿(Lo$SeSI 863,253 1,364,297 1861,450) 147,318 11,412,929) 89.658 (714.1381 {1,323,2711 Net revaliiation gainslllossesl 389,531 447,423 £7,356,589 £6.663,745 Sums held by the lund manager io portfolio bank ac￿untS have now been re-classified io Inve5tmell15 from Cash at Bank a￿d In Hand. The cost of Ihe quoted investments was £6,179,019 {2024.' £5.836,0791 Qu0￿d investment5 comp¥ise'.- 2024 2023 UK listed irtvestmen(5 Equities Fixed inteirst Overseas investments Equities Fixed interest Alternalive investments Infrastiuciurc funds AotlV61y Inana8ed strategies Liquidity C#sh proceed5 reG¢ivable 1,204,454 1,264,093 1.378,084 1,494.533 3.651.921 128,520 373,947 152,054 245.748 228.636 107,216 2,715.662 133.164 619,487 165,331 46,007 111,477 £7,356,589 £6,663,745 39 I"IIE CONGREGA'fIoN OFTHE SIS'I'ERS OF STMARY or NAMURCIO NOTEISTO THE fINANCIALSTATEMCNTS Irorltinued) FORI'HE YEAR ENDCID 30 SEPTEIMBER 2025 12 EIITORS I'otal 2025 Total 2024 I*Jve5tmeni income and inlcTesl Itceivable Prepaymenls 1,483 9.500 10,422 13,757 £10,983 £24.179 13 CREDITORS- Amounts f#lling due ivithin on¢ year Total 202$ Toittl 2024 Monie$ adrniiiislered on behalt'of individual members of the Congi'e£alion Oih¢r taxes and social seturily co%ls ALLwa15 and dcferred incon)e Sundry creditOl'5 294,496 294,496 815 33,065 47,218 £342049 £328,376 14 RFSTRICTE4 D FUNDS Curreiit year Pai'ish Suppt>rt Fund At l O¢iobei' 2024 Income Expendituie 405 1405} AI 30 Seplrmber 2025 Prior Yegr Parish Support Fund At l O¢lobci' 2023 Income Expenditure 155 650 (4001 At 30 September 2024 £405 40 THf CONGREICATION OFI'HE SISTERS 01,. ST MARY OF NAMUR CIO NOTES TO THLt FINANCIAL STATEMENTS (continued) FOR THE YEAR BNDF.D 30 SEPTEMBFR 20Z5 15 TANGIBLE FIXED ASSETS FUND Tota 2024 2025 At l Octobei. 2024 1,878.307 1,873,910 Net movcmeni$ in year {8,3241 4.397 At 30 Septembei. 2025 £1,869,983 £1,878,307 -lie langible fsxed assets fuiid reprc5¢nls the nct book value of lh¢ ¢hai'ity's freehold pi'opei'lies and oiher tangible asscts. A decision ivas made to separalt this fund liom the general funds ol'th¢ ¢hai'ity in IEcogniiion of the fJct that the ttmgible fixed assets wei'e Cbseniial lu the day-ts)-day work Dr the charity and as Such their value should not be regarded as funds ihaf would be I'ealisable with ease, t(> rneet futUTT contingenci¢s. 16 DE4SIGNATBD FUNDS FiiJan¢ithg And Congr¢gationAI Fund Retiremettt Reserve Fund Total At l October 2024 Utilised I rel&qsed Designated 5,000,000 119,476) 1,019,476 911.000 135.0161 124,016 S.911,000 IS4,492) 1,143,492 At 30 September 2025 £6.000,000 £i,000,o( £7,UOO.000 Financing #rtd CoAgrég8tioiJal Fund Retirement Reservt Total At l October 2023 Uiilised I ieleas¢d Designated 4,830,000 1,081,000 1170,000) 5,911.000 1170,0001 170,000 70.000 At 30 September 2024 £5,IKJO.000 £911,000 £5,911.000 -rhe Retirement Fynd rcpirsents amounts designaled by th¢ Trustees to provide for the p￿sent and futur¢ ¢AI'e and livirtg cosls of the sisters as thcy grow older. Th¢ Itvel of the Fund is reviewed anllually and is ba5¢d on th¢ Tru5tees' best eslim9te of the lifctimc cosis of care for the sistcrs ¢unently in the Congregation. 'fhe calculaiion takes into a¢￿Unt expecled longevity, the likelihood and cosi of nursing alld specialist eare, general living costs, inflatio* assumptions and anticipated inv¢slment reluThs. THE CONC.RECATION OFTHE SISTCIRS off STMARY OF NAMURCIO NOTES TO THE FINANCIAL s'fA TEMENTS Icontinut(l) rrOR'fHE YEAR ENDED 30 SE4PTCMBER2025 J6 DESIGNAI'ED FUNDS (contiiiutdl The Fund 15 calculated on a pei-5islei' basis as x capildl sum required lo meet (hese costs overiht remaiRdei' ofeach 5Eslcr's life, rathei. (han by iefeiEnLC lo fixed annual tOS15 or spccific age Ihr¢shDlds. During the yedr. the Trus1¢￿ iiicr¢a5ed the Rctirement Fulld lo r¢flecl I'ising carc costs, increased life expeelathcy assumplions and Beneral inflationary pre8surt5. Al lh¢ year end, a total of £6.0 million ha5 beeii designated for this purpose. whi¢h tlie Ti'uslees ¢unsider appyopriaie havia8 regard lo the resourtes of the charity and the nceds of the sislei's. While costs teE)d to in¢i'ea5e as sisiei's reach advanced age and Irquire higher l¢ve15 ofcare, Ihe Trustets constder Ihat a life1￿￿¢ p¢r-sisler appro&ch provides a Llearer and MO￿ prudent eslitnate of the iotal obli¥2tion. The Flttsnciiig hnd CongregatlonaI Fllnd ha5 been establtshed by the sist¢iE to fill￿nce grants and donations including ¢onli'ibution5 to the Congi'egation's woi'k ovciTeas. The level of ihe Fund w&s increased in the yeay lo £l.Om lo ￿ flcct the estimaied sum requiitd to meet future comtnitrnenls and oblisation5. 17 ANALYSIS OF NET ASSETS BETWEEN FUIYDS Fund balances &¢ 30 September 2025 aTe reptrsenled by.. GeJJeral funds Tangible Flxed Assets fuTLds Designated funds Rc51ricted rllnds TotAI 2025 Tangible fixeif assets Ii?veslmenis Net current assets 1,869.983 356,589 288.737 1,869,983 7,356,589 288,737 7.000,000 TDIRI net Asset$ £645,326 £1,869,983 £7,000,000 £9OIS,309 Fund balances ai 30 Sepltrnbei. 2024 air Tepi'esented by.. GenerAI fujids Tangible Fixed Assets fund5 D¢si%nMtod fuiids Restricte funds Total 2024 Tangible fixed assets Investments Nel current assets 1,878,307 752.745 438,753 1,878,307 6,663,745 439.158 5,911,000 405 Total net assets £1,191,498 £1,878.307 £5,911,000 £405 £1.981,210 42 THf CONGRC4GATION OFTIIE SISTERS OF ST MARYOF NAMURCIO NOTES TO TIIE FIIYANCIAL STATEMENTS Icojitinuedl FOR THE YEAR ENDED 30 SCIPTEMBER2025 17 ANALYSIS OF IYEIT ASSETS BETWEEN FUNDS {continu¢d) The tOlo1 unreali5ed gains as at 30 September 2025 constitute moveNent5 r¢valuations of invesltnents are as follows-. Total 2024 2025 Uniealisoil g*insllIosses1 on investinentg £1,177,570 £716,181) Rtcothtiliation of movements Én unrcalSsed gAin51110s5¢5) Unreali5ed gains al l Octobei" 2024 Less.. in i-espect of disposals in tlie year Net1105sesVgains ai'151D8 Dll Tevaluation in the year 716,189 71,850 389,531 521.532 (252.766) 447,42] Unr¢allstd gai115 at 30 S¢ptembei' 2025 £1.177,570 £716,189 18 LEASE COMMITMENTS Operatiiig legsts The ¢hartty had total luture cornmitmenis under non-can¢ellable operating l¢a8es for buildin8$, which ivere trallsfei'red to Ihe CIO, as follows.. 2025 2024 Payabl¢ Within one year 3,525 3,525 Between two and fivc yea 4,700 8.225 £8,225 £ 11,750 19 ULTIMA TE CONTROL The Provincial Supcrior of thc Congre8ation by virtue af holding that officG 15 eK officio the sole member of thL charity. Th# sole member 18 responsible for the appuinlment of the ttustces. 20 LIABILITY OF THE MEMBER If the Gharity is wound up, thc mernber of the charity has no liability to colltrnbute to ILS a5Stls and no persort&l IfSPDnsibility for settling its debts and liabilititts. 43