Communit of
St Mary the
irgin
Report and Accounts
Year to 30 September 2024
The Community of St Mary the Virgin
at Wantage
Charity registration number 1181510

Contents
Reports
Reference and administrative details
Rewrt of the trustees
Independent auditorfs report
10
Accounts
statement of financial actwities
15
Balan￿ sheet
16
Statement of cash flry•VS
17
Principal accounts.ng policies
18
Notes to the accounts
23
The Communtty of Sl Mary the Vlrgln at Wanlage

Reference and administrative detalls
Tntstees
Ven ChI￿tin2
Sandra Ca￿1 IRetir&J 10 January 20251
&ster Stelk Colkett IResi9ned 4 20241
Foot
Rt Revd Cmma Gr
R6vd Canon Dr Peter Groves
C&ydon JOy￿r IArwintsd 23 May 2024}
AL8on Jestico (Chalrl
Rgvd Carrt￿ Darren McFarfand
Vèry Revd RKhard Peers (Retired 2 March 20241
Sisler El￿81￿eth Jane Tw8thJé14)wxlltÈd 23 Novemb8r 20231
Principal address
The Commuw of St M8ry thè Virgin
Si Ma￿S Convent
Wantage
Oxfordshire
OX12 9AU
Sister in Charge
Sister Ehzabalh Jan•T%*ddle
Steward
Keith G]enny {Retired 30 April 20241
Gert￿rdI (A￿￿inted 1 May 20241
Telephone
01235 763141
W•bsitO
csmvm.uk
Charity v•gislration nwnber
1181S10
W(od Street
Lond
EC2V 6DL
Bankers
Naliond W8stiFurtster B8rsk pk
11 Ma￿etH
AbingthNI
OX14 3HH
Investment managels
CCLA
On9 Angel L8n8
L￿d0Th
EC4R 3AB
Solldlors WinclTh4uth LLP
2 ChavAey Park
Cumnor Hill
OX2 9GG
The Commtjnty of St Mary the Wirgin at WanlèJe 1

Report of the trustees Year to 30 September 2024
Introduction
The Communtty of St Mary the Virgin at Wantsge ("CSMW or 'the charilf} is a charitable
incorporated organisab.on regtstered with the Charty Commission. It was iTrcorForaled on 10
January 2019. The bijslees are pleased to present their report together with the accounts for
the year erKled 30 September 2024.
The charrty was set up to take over the 8Ctivibes of an unincorporated charitable tnjst with the
'Communty of Sl Mary the Virgin at Wantage. llhe CSMV Trusf) (charity registration
number 240513). With effecl from 1 October 2019. all the assets. liabilities and activities of
the CSMV Trust were transferred lo the charity- The origins of CSMV'S activities gj back lo
1848 when an AngE￿an religKJus community of Slsters lllhe Communiw,) was founded by the
Revd. William Butter. Vicar of Wantage at the time. The CSMV Trust was created in 1879 to
take forward the actiwlie5 of the Communty. Following th8 transfer of activities to the charlty,
the CSMV Trust remairE as a separate entty but is no loThJer actNe and ts constituted as a
rink￿ ¢haTity within this charity.
The charÉtable obj.ects of Ihe CSMV Trust were reviewed arKI r￿eXpressed during 2018119 to
refflecl today'5 wodd. The new objects We￿ approved by the Charity Commission and are
the objects which this charity has adopted. They refl￿1 the Ihree broad areas which have
8lways at the heart of the Community sirTrce ils founding in 1848. These are:
LNing and growing in farlh. and in particular sustsining the lrfe of the Community of
&sters which is at the centre of CSMV.
Supportiro educatwjn founded on An91￿ Christian principles.
Caring for the vulnerdile. in partTrcular women and girfs and those who are ill.
This rem describ8s hthv thes8 obj.ects have been realiwj during the year. The trustees
confimi that in planning and overseeing the charty's ￿tiVItI8S they have taken into account
the Chanty Commission's guidance on public benefft.
Living and growing in faith
The charty seeks to live and grow in faith and to help otheTS lo corne closer lo God. The
charty's Convent and grounds in Wantage is Ihe home of the Community of Sisters who a
at the c8ntr8 of CSMV. ToWhw the Sisters sustsin thè cycle of pr8y8r and worship which
ha5 be8n offered al the Convent for more than 175 years. Visitors are welcome to join them
for worship.
The Commtjnty comprtses 7 fully wofeswJ Sisters as weN as a Sister under Promise who
continues Ihrwgh Ihe process of ex[l￿ath)n. discemment and f(Thation.
The Rétreat WINJ offws irxlivKluals and groups space for quiel days and retreats. to reflect,
learn and pray irb the quiet peace of the Retreat Wing and with the Sisters. During the year,
CSMV offered a programme of retreats arml quiet days iy)vering a variety of subjects which
wer8 well attènded and morè plannad for thè yèar ahèad. We have also wejcomed many
groups to use the Maribel Centre. from educth.on organisations. D￿￿San bodiès. the
Cathedral, and other charities kxjkillg f(K somewhere to meet. This ministry of welcome is
growing steadily at a pace with which Sisters and trustees are comfortable.
The Community of St Mary the Virgin at Wanlage 2

Report of the trustees Year to 30 September 2024
Indivhluals who woubj like to devekjp a dose assw1a1￿ with CSMV are invSled to find out
more about the Communty's groups of Oblates and Associaies. Both groups welcome
women and men. lay or ordained. from any Christian denomination. Associates are received
as frier¥Js of the Community. Oblates are those who feel drawn by God lo express in their
own lives the charism ofthe Community. As more people come to know about CSMVthrou9h
retreats and corrference events. we hope to see both groups growing. FollOw￿g the pattem
established duriro Covid 19 both groups continue lo mael regulady via Zoom as well as face
to faca.
The chartty works with other cKganisatsons to promote prayerand the ￿ligIouS lrfe. Currently.
we are sUp[K￿ting organisalKJns in partular. by k8gPtng them in our prayers and by
providing grants.
Discovering Prayer offers those seeking to eXpl￿e prayer many dtfferent ways to do
so through the medwjm of the internet. Founded and run by CSMV Oblate m￿heNe
Eyre, the website offers the opportunity to explore a deeper ￿latIonShIp Nwlh God and
is conb'nualty developing new wrdys of engaging in prayerful activities.
Besp8￿ is a charity wh￿h equips local thurches to facilitate prayer and refiection
spaces in S¢￿)C4S and other ¢(￿m￿n￿ areas in Oxfordshire. Bespace provides
ckssrcom kits. and hleas lo local church teams and. and in some cases volunteers to
help lead the prayer groups.
Supporting education
Supporttng high qualty educalton of children of all agas, and particularly girfs, has ￿en
guiding principle of CSMV since its origins in the nineteenth century. The charity is invofved
•) S6veral ways of offering thal support both in Wantage and overseas.
At thè Convent in Waniage. we are prov¢ding office space for two muhi-acadomy trusts
- the carn￿an Trust (succeeding the Vale Academy Trust) which now has eighteen
schools in and around Wantsge. Faring1C￿ and Abingdon. and the Oxford Diocesan
Schx*ls Trust whith has gr(rwn lo a family of 43 priJnary schools in the Diocese of
Oxford.
One of the chaI￿ng6S fac*d by local sd)ools is the hSgh ¢x6t of housing In Oxfordshire.
This makes it drffFcuII to recrurt young teachers in partirajlar. We are helping with this
a small way by offering six )lats at affordable rents in St Mary's Lodge.
In India. the ￿lety crf St Mary Ihe VitYJin in India {"SSMVI") c(M)tlnues the work of
CSMV Sisters at three schods in and around Pune. These sch)ols edLtcate more than
1,tKJO chldren, many from very disadvantsged bad(grounds. We have ￿ntinued to
prowde prayer supwrL
The charity also made a grant to Wanlage Partsh Music Guild foriis work training young
church musicians.
The Community of St Mary the Virgin at Wantage 3

Report of the trustees Year to 30 September 2024
Caring for the vulnerable
In the late 191h century and for much of the 20th Cen￿ry, the Sisters of the Community were
called to work vthh the poor and disadvantaged in Southem Africa as well as in India. The
charity continues to supportthis work thn)ugh projects wtth an historical link to the Community.
In Pretoria, South Afri￿, the charity supwrts Ire￿ Horr*s whi¢h ¢ares for vulnerable
adults. and offers them residents￿ and day ￿re support and s￿115 training.
In Botswana, CSMV Associate Margaret Taylor continues to manage donations from
Wantage lo develoF)menl projerts at the Gabane C(ynmunity Care Centre and the Holy
Cross Hospi￿ in Gatrx)rone.
In Pune, lThlia. the charity supports SSMVI as it cares for a number of mostly elderfy
women at Si John's Home. At the nearby St Mii*ael's Hostel, SSMVI provides
resKlenlial Gare for 190 gwls at risk. induding children who are orphans or from single
parent hcxjseholds. those affected by HtV-AIDS, and thildren of prostitute5 or from
broken aNI pcor families.
In the UK. the Medaile Twst is the largest provider of supported accommodatton for
victims of rThMJem slavery. Their network of safe houses provides personalised
support. empowerirwJ d￿nts ￿ their path to a Irfe free from slavery and exploitatton.
CSMV (x)ntinues to suppcrt the Medaille Tfust financially and with prayer.
Governance and operatlons
The charity is govemed by its (xjnstrtution which is regISte￿d at Ihe Charity Commission. AS
referred lo in the inlroducbon lo thts report. the charity twk over the activities of the CSMV
Trust, incFLKling all its assets and liabilities, with effect from 1 October 2019.
The charttable objects of the charity are identlcal lo IIN)se of the predece&sor CSMV Trust
They are as follows:
To advance the Chrtstian religion for the benefit of the public. in particular through
maintsining Sl Mary's Convent, Wantage and sustaining th8 ￿lIgiouS communjty there.
as wdl as the promotion of the religious lrfe generally, a¢xordance wtth thè doctrine
of the Church of EThJland and of those (*urchès in communion with the Churth of
England.
For the benefrt of the public. lo promole and supw>rt educetion in institutions or through
projects which have an Angliw character. or through joint and ecumenical enterprises
which include an Anglican partner. in such ways as the trustees think fil.
To support projects which assist in the care and treatment of persons SLrffering from
illness of any descripts.on or in need of rehabilitalion. in partiwlar f(￿ vulnerable women
and girls and women sufferiThJ from mental i11r￿sSeS. incbjding through the provisK)n
by such projects of facilities for work and ￿reall)n arKJ the pmmotion of heatth
ucation.
The Community of St Mary the Vlrgln at Wantage 4

Report of the trustees Year to 30 September 2024
The trustees are resp(msible forthe overall govemance of th8 charity. Trustees are appolnled
by a resdution passad at a Meeting of the charity's trustees. To be apwmnted, an individual
musl be a regular communicant member of the Church of England or of a church in
communion with the Church of EA￿and, in acwrdance with the Church Representstion Rules
2017. Truslees are appointed for a spectfied temi of up to three years. They may be r
appointèd for up to two futhr conse¢ulive tenns bul may then only be r&appointeLI after an
interval of at least on8 year. The trustees meet al least four tunes a year.
The trustees are members of ihe chanty. If the charity We￿ to be wound up. they
would havè no14qbilty to contribute to its assets and no personal resp￿sIbilIty ￿ any debts
of tho charty.
indu¢bon prc￿ramrne and training opportunities for trustees ensure Ih8t they are
appropriately briefed on their responsibilities and on the activities and financial position of
CSMV. When necessary. the trustees seek advice and SUPKKJrt frorn CSMV'S professional
advisers. The Steward (CEO) and Clerk to the Trustees. Rachel Gerhardi (from l May 20241,
is reswnstjle for ovetseeing the staff and day-tfrday operatic￿S at Sl Mary's Convent The
Steward reprrt% to the Sister in Charge of the Community and the Chair of Trustees. The
trustees have fomied a numLEr of small groups suptmxted by relevant members of staff, giwng
them greater insKJht into Ihe operational ¥bvibes and ch*lenges ofthe charity. These groups
report to the main board of trustees.
The trustees COnSKJer that they. together With the Steward. comprise Ihe key managemant of
the charity. Senior staff report lo the Steward. The Sistsr in Charge is reswnsible for the
care of members of the Community and ts their ministy. She advises the trustees of the
vtews of Sisters atKJut the future dweclion of the tharity and other relevant matters.
The Sister in Charge ks ￿)th a member of the Communty of CSMV Sisters and a trustee.
Whi18t her living and person￿ expew are l)orne by the chatity in th8 same way as other
Sisters, receN85 no remuneration or reimbursement of expenses in ¢onnecb"on with her
duties as a ￿￿mber of key managemgnL
The trustees at the dale of this re￿￿rt we as folb)ws:
APpointedl￿aPpOInted
Ven Ch￿￿"￿e AJt50PP
Mith18 Fool
Rt Revd OINkq Graham
Revd Canon Dr Peter Groves
Gordon Joyner
Alis￿ Jestio) Ichairof Trustees)
Revd CarK)n Dar¥En k1cFarf￿d
SFSteT 8Eabeth Jane Tweddte
ReappcAntwY 19 March 2￿22 for a fvrther three years
Reapwnbj 12 September 2022 for a fut1herthree years
Reapwjinted 10 JanLFary 2023 for a furtt)er Ihree year5
Re4)wrrt&Y 7 Marc* 2L124 for a furlher three years
Appointed 23 May 2024
Reap[#￿Th1ed 19 k4arch 2022 fora furtherthree years
Reapw"nted 7 March 2024 for a further three year5
'nte(123 Novernb8r2023 fcxth
There was ono resignation {Sist8r Stella Co*ett} and iwo nèw appointm8nts of Truste89
during the year ended 30 September 2024 ar¥J the Very Revd Richard Peers retired at the
end of his term of office on 2 March 2024. Sintte Ihe year-end Sandra Capel has relwed at th8
end of her lerm of office.
The Community of St Mary the Virg¥7 at Wanlage S

Report of the trustees Year to 30 September 2024
Risk managemenl
The trustees wularly rewew Ihe princip& risks and Un￿rtairItieS fa￿d by the charity and tre
I￿les. systems and procedures in place or needed lo mltigate the ftsks Identified. The key
risks identified are described b8iow, tcoelher with the prinapal ways in which they are
mitsgated..
Most of the Sisters are over state [￿slon age and the charity has both a moral and
legal obligation to care for the Community's older members. None of the Sistsrs have
resources of Ih8ir ovm as th8y (knnate all their eamiry5. pensions and other income to
CSMV. Key elements of the management of this risk are.. {al setting aside asset5 in a
deS￿nated fund, the Val￿ of which is based on actuar￿￿ prirKiples, in order to ensure
that there wl be sufficient funds to cover the costs of care,. and Ib) ensuring ihal
processes are in pla￿ to regulaty revi8w the ministrÈès and needs of ind¢vidual Sisters,
enabling them when appropriate to take on less demaThling ministries and identrfying
those who need extra care and help.
The charity w(*ks wrth vulnerable peopbe arKI the tTUStees recognise the ￿e￿sSIlY of
ensuring the prolecbon and safety of all tIK)se served by the charity, induding the older
Sisters. A safeguarding group. led by a trustee, meets al ￿#51 tw.ce a year lo review
the charity's safeguarding pclicy and prcredures related issues. An audit of
safeguarding pro￿se$. procedures and wrfiaes was carried out in 2022 by an
experienced safeguarding professional. No signtficant Issues were found and the
ath.ons recommended in her report have been taken forward by the group. Under the
Past Cas&% Review prrKess. the archives were examined by an extemal reviewer in
2022 and matters reqtjiring further investigation ¢ame to fight. Where appropriat6,
certtfi(3tes fr(xn the Disclosure and Barring Semce {D8SI are obtained and
safeguarding training is provided fcf staff. Sisters. trustees and those who volunteer for
Ihe charity.
Thecharity don*es to ot￿Ory￿aniSaltons w￿se ￿leCtNeS are corksistentwith its own.
Whether the funds are used here in the UK ￿ overseas. the trustees ensure that they
ere familiar with the work of any potential recipienl of funds. that fvnds are transferred
via bank transfer. that proof of receipt is obtained arKI that written reports of how the
monies have been ulilised and applied are obtsined from the recipienL
A svJnificant pr(4)cNtson of the tha￿ty.$ assets are held in investrnents in pO0￿d ftjnds
whith comprise st9nthcant prop(¥t￿S of liste(l investrnents in thè UK and Overseas
and therefore dependent on r￿Vernents on UK and wortij strKk market The funds are
managed by experienced fund managers, CCLA, and the undeilytng investrnents are
well diversified. The tryslees ￿￿et regulaty Trmth the inveslment managers lo review
and monitortheirperfcxmance. The investment strategy is assessed annually lo ensure
remalns apprwate.
The Community of St Mary the Virgln al Wantage 6

Report of the trustees Year to 30 September 2024
Supporters & fundralslng
The charity seeks to achieve best practice in the way in which it communieales with donors
and othgr suppcrters. taking care with both the tone of its communications and the accuracy
of ils data. Supporters a￿ 8ile to change their communicatK)n preferences at any time and
the charity does not employ Ihe services of professvjnal fundraisers. The chaiity does not
sell w swap dats aboLrt supporters with other organisations. The charity has received no
cofflplaints about its fUnd￿sIng activibes. but rf it does so in fvtwe il will investigate and ￿aM
from them.
Financial review
The accounts f￿ the ￿nIx1 lo 30 September 2024. vthich follow this rewrt, have been
prepared in accordance with Ihe accounting polKies set Iwl on pages 18 10 22 and compty
with the charity's constitution, apt4icatAe laws and accountiw stsTrJards.
The tharty has signfficant investments which generate gains or thses in value. Inevitabty.
this means that the charity's total inLx)me can vary from year to year, depending on
movements in investment markets. All Ihe ¢harity's financial Énvesknents are managed by
CCLA Investment Management thrcyJgh the CBF Investrnent Fund and the CBF Global Equ
Income Fund.
The Va￿ of the ac(yJmulation shares in both Funds Ibuctuated during the year but finishgd
12.7% higher at the end of the year foi the CBF Investment Fund and 16.10th higher for the
CBF Global Equity Fund. This resulted in a tolal gain of £1.772K across the ftjnds {2023
- £751kl. Funds of £T18K were withdrawn from the wJrtfc4v) to fund the operational defknt
(2023- £1.5491.
In addition lo its financial irwestmenl portfolios. the charity hokls a number of investment
prop￿￿e¥ to generate rental income. In the year ended 30 September 2024 no adjustments
were made lo the valuatKJn of investment properties.
The programrne of renewal of the c￿vent buiklings in Wantage was started ty the CSMV
Trust and was lryly com￿eted by the o*arity during 2020121. The cost of this work is
refiected in the freehold improvemerts shown in 10 to the accounts. Al 30 September
2024 the charity had no capital wmmitrnents.
At 30 septemb￿ 2024 the totsl reserves were £30.9M {2023: £30.5M)
The charity has a small am(MJnt of reserves which are restrthd for specific purwses. Details
ar& given in note 14 tr) the acrA)Lbnts.
The charity's tangible fwed assets. wincFpalty the Convent site in Wantage. are ￿Orded al
net book value of £14.5M {2023: £14.5M). As these assets are essents.al to the charl￿S
activities. their value coukl not easity be realised to meet future ￿ntIngencies. Accordingty.
the trustees have set aside a reserve of an equNalent amounL
The Community of St Mary the Virgin at Wanlage 7

Report of the trustees Year to 30 September 2024
A primary responsibilty of the twstees is to ensure that the charity has sufficient fijnds for the
futufg to alk)w Sisters who make up the Community to continua their religious lrfe and to
care for the Sisters as they ￿0W okler. Accordingly. the tnjstees have set aside a designated
reserve forthis PUfPOSe. The value of tr4$ fund is reviewed annually using actuarial principles.
In light of the mst recent detsled revtew, whth toc& account of the relatively high and
increasing costs of rKovMlirrtJ eare. as well as the current number of Sisters. the trustees
consider the valu8 of ttNS fund should remain at £4M.
The trustees have carefully cork8idered Ihe charity's need for free reserves. i.e. those funds
not invested w) tangibfe fixed assets or restricted for specffic purposes. The ch8rily will ￿lY
to a targe extent on relums from its investsnents lo generate the income required to ￿ntinUe
to run Sl Mary's Convent in Wantage, to support the Sisters in Iheircalling and more generally
to carry out GSMWS charitable objeciNes. Takir#J into account likelyluture expenditure needs.
oth8r sourc&s of incomè and estimaled long-lerm investmenl fetums. the trustees consider
that they needed lo rnaintain an investmeni portfol￿ worth approximatety £15M {at currènt
pricE levels) in order to generate sufftient irrf>)me to sustain the charity. irKluding Garing for
the Si%lers in their retiremenL
Ac(xJrdingly. it is thè Im￿lcY of the trusiees iu INJkl unreStr￿ad reserves represented by
invesbnenls of approximate￿ thig amount. The value of Such reserves at 30 September 2024
was £16.4M (2023.. £16.OMI. comprisirrfJ a desynated Slslers. care fund of £4M and general
unrestfi¢l8d reserves hsld as investments of £12.4M12023". £12.OMI.
Outlook for the future
Tnjstees were er￿ouraged by the oulcome ol Bishop Sarah Mullaly s episcopal vlsitation in
September 2022. and continue to work wrth the Sisters to enable her recommendations to
sustain and support the lrfe of the Community.
During the coming year, we l(KJk fonwd to increasiro the programme of retreats offered Sn
the refvrbished Retreat WirrfJ and hope lo attract more guests on retreat. individually and in
groups. A number of groups. particularly those wrth a cknse CC￿neC￿.0n lo the Community,
are regularty ¥Jsing the facilities in the Maribel Centre and we ￿pe that this will continue to
grow as other gTOUPS become aware of the excellent fa(alities and warm welcome.
The Community of St Mary the Vlrgln at Wantage 8

Report of the trustees Year to 30 September 2024
Statement of trnstees. responslbllities
The truslees are responsknle for p￿Paring this trustees. report and the accounts In
ac¢c¥d*)ce wtth applicable jaw and United lQngdom Accounting Standards (United Kingd(Kfi
Generalty AC￿pted Accouniww PractV￿>.
The law apr11￿ble lo charities in England and Wales w4uires the trustees to prepare
crtjnts for each finanoal peric*l whith give a true and fair wew of Ihe slate of affairs of the
tharity and of the income and expendthjre of the charity for that pericd. In preparing th8sg
a￿nts, the trustees are reqUIr￿j to:
select suitable accounting pdioes and then apply them consislendy..
observe tha wtho(J$ and prinwAes in Accounling and R8porting by Charstles:
Statement of Recommended Praclice appI￿at￿e to charttses preparing their accounts
in accordance with the Finanaal Reporting Standard applirAble in the United Kingdom
and Republic of IrelaThl (FRS 1021;
make judgements and estimates that we reasonable and PTudenL
state whether apptlcable United IfjNJdom Accounliro Standards have been followed,
subject to any material departures disdowy and expL4ined in the accounts; and
prèpare the ￿t￿￿nts on the going concwn basks unkss it is inappropriate to presume
that the charity wll continue in operation.
The trustees are responsitAe for kwing proper acwnting records that discbse with
reasonable accurw at any time the financial pos￿0￿ of the charity and enable them to
ensure that ￿ a¢cwnts o)mply ￿ the Charitw Act 2011. the relevant Charity {Accounts
and Reports) Reg￿atiOnS and the provisicffts of the charity's constitution. They are also
responsible for safeguarding the assets of the charity and hence for tskir¥J reasonable steps
f￿ the prevention and delectM)n of fraud and olher irregularthes.
This rep(xt was approved by th8 trustees on 4 W *thiland signed on their behalf by..
Jison Jestico
TTU5tee
The Community of St Mary the ViDJin at Wantage 9

Independent auditorfs report Year to 30 September 2024
Report of the independent audftor to the trustees of The Community of
St Mary the Virgin at Wantage
Oplnion
We have audited the accounts of The Community of St Mary the Virg#7 at Wantsge {the
'charity') for the year to 30 September 2024 which comprise the statement of financial
activities. the balance sheeL the statement of 12sh flows, the principal a¢￿Unting policies
and the notes to the accounts. The financial reporting framework Ihat ha5 been applied in
their preparation is applicable law and United Kingdom Accounting Star¢dards, including
Finan¢kg1 Repcfftiro Standard 102 'The Financial RetKJrb"ng Standard 8ppli¢8ble in the UK and
Republic of Irgland. (Uniled lfjngdwi General￿ A￿epted Accounting Practi￿1.
In our opin￿. the aecounts:
gr¥e a true and fair view of the slate of the charity's affairs as at 30 September 2024 and
of its income and expenditure for the year then ended..
• have been property prepared in acojrdance with United Trfj"n9dom Generally Accepted
Accounting Pra¢li¢e". and
• have b88n prepar￿1 in aclxJrdan￿ with the wU￿ements ofthe Charib'es Act 2011.
Basis for opinion
We conducted our audtl in accordance Vdith Intem8tional Stsn¢Jard$ on Auditing IUK} IISAS
(UK)) and appli¢aNe law. Our restK)nsibilibes under ItKJse standards are furth&r d&s¢ribod in
the auditorfs respOnsibi￿leS fDr the audit of the a¢xounls 5ects.on of our ￿POrt. We are
independent of the charity in accordance with the ethical requirements that are relevant lo our
audit of the accounts in the UK induding the FRC'S Ethical Standard, and we have fLslfilled
our other ethical responsitxlities in accordance wilh Ihase requirements. We believe that the
audtt evidence we have obtsined Os suffiL?ent and 8ppropriate lo provhye a basis for our
opinN)n.
Conclusions falating to golng concern
In auditsng Ihe accounts, we have conduded that the Irustees. use of the going COn￿M basis
of accounting in the preparation of the accounts i¥ appropriate.
Based on the work we have performed. ￿ have not identified any material uncertainties
relating to events or condiions th*. in(Jividudly or ojllecttvely. may cast significant doubl on
the charity's ability to conkn.nue as a going concem ￿ a period of at least tW8lve months from
when the ac￿Unts are a￿hOriSed for issue.
Our ￿$￿nSibilitieS and the rest￿sIbilItieS of the trustees with respect to going concgm are
described in the relevant SectI￿S ol this re￿
The Community of St Mary the Virgin al Warbtage 10

Independent auditorfs report Year to 30 September 2024
Other infomiation
The trustees are resp(￿ille for the other infom)ation. The other infomiation compdses the
information induded in the Annual Report and Accounts. other than the accounts and our
auditor's report thereon. Our opinion on Ihe accounts does cover the other infom)atw)n
and we do nol exprvss any form of assurance concbjsion Ihereon.
In conn8ction our audil of the accounts. our responsibiltty is to read the other infomiatKJn
and. in doing 50. consider whether the other in1￿ma￿.0￿ 15 materially inconsistent with the
accc*Jnts or our knowledge Obtain￿ in the audit CK otherwise appears to be materially
rr115ststed. If we Klenlrfy sud) material inconsislenues or apparent material misstatements.
we are required lo detemiine whether this gives rise io a maleTBI misslalement in the
accwnts Ihefflsefves. If. based on the work we have perfornied. we conclude that there is a
material mi85ts1ement of Ihis other information. we ￿e required to rewrt Ihat facL
We have n¢kning to report in Ihis r￿ard.
Matt•rs on whith we are rwuired to report by •xc•ption
In light of the knowledge anij understsnding of Ihe Charity and its environment obtained in the
cijurse of the audiL we have not Klentthed material misstatemertts in the trustees. report.
We hav8 nothing to report in respect of the following matters in relaticx) to which th6 Chariligs
{A¢counts and R8Wrtsl R8gulatioThs 2008 requires us to retx)rt io you rf, in our opinion".
• the information given in the Irustee5' report is inconsistent in any material respect with the
accounts: or
• suffmient accountirvJ re¢￿dS have not been kept: or
+ the aCC￿llts are not in *Jreement wilh Ihe a¢￿u￿ting r￿dS and returns.. or
we have ￿)t r￿eNed al the Ènf0mW￿ and explanalions we require for our audit.
Respon$ibilitiès of trust••s
As explained more fvlty in the trusle&s' reS￿￿nsIbIlitieS slalemenl set (Krt on pago 9. the
trustees a￿ responsitrAe for the preparation of the accx)unts and for being satisfied that they
give a true aThl fair view, and for sud) intemal control as the trustees determine is necessary
to enable the preparation of acLxsunts that are free from material misstatement, whether due
to fraud iy err￿.
In preparing the acc43￿ts. the trustses are responsible for assessing the charity's ability lo
continue as a going ￿n￿m, disclosing, as appli￿ble. matters rdated to goirvj concem and
using the going C￿CeM basts of accounting unless the trustees ether inteNJ lo liquidate the
charty or to cease operations. or have no realistic altemabve but to do so.
The Communlty of St Mary the Virgln at Wantage 11

Independent audltorfs report Year to 30 September 2024
Auditorf$ responsibilities for the audit of the accounts
We have been appointed as auditor under section 144 of the chartb.es Act 2011 and report in
ac￿rdanCe with the Act and relevant regulati￿ made or having eff￿1 thereunder.
Our ofyectives are to obtain reasonab￿ assurance ab¢xJt whether the aCLX)unls as a whole
are free from materBI mksstatemenl. whether to fraud or error, and to issue an auditor's
report that in¢ltJdes our opinion. Reasonable assurance is a high level of assurance, but is
not 8 guarantee that an audf( conducled in acCOrdar￿ wtth ISA5 {UK) will always dgtgct a
material misstatement when it exists.
Misstatement5 can arise from fraud ￿ err￿ and are consider￿￿ malerial rf. indivklually or in
the aggregate, they could reasonably b8 expected lo influence the economic decisions of
users tsken on the b8sis o* these accounts.
Irregulartties. induding fraud. are instsnces of rth-cOm$￿iance wth laws and regulatlons. We
dasign procedures in line our reS￿nsibIr1ties. outlined above. lo detect material
misstatements in respect of irregLAarities, including fraud. The 8Xtent to which our procedures
are capatrAe of detecting irreguLgrilies. wKluding fraud Is detamed below.
Our approach to KIent￿ng and assessing the risks of material rnisstatemenl in respect of
irregulariknes. including fr￿d and nonwc0mpl1an￿ with laws and regulations. was as follows..
The Senic* Statutory Auditor ensured that the engagement team coll8ctively had the
appropriate competen￿. capabilrties and skills io identify or recogniso non-CA)mpliance
with aptAicable laws and regUlatic￿,.
+ We oblained an understanding of the legal and regulatory frameworks applicable to the
chartty and the sector in whK* it operates. We f(ffttsed on specific laws and regulations
which we conShlered may have a direct material effect on the financial st81ements or the
operations of the charity. We detemiined that the fdlowing laws and regulations were most
swJnificanL AccountiThJ and ReportiThJ by Charities.. Statement of Recommended Practice
appluble to chartties preparing their accounts in accordance with the Financial Reporting
Standard appl￿ble in the UK and Rewblic of Ireland IFRS 1021, the Charities Act 2011
and safeguarding r8gulations;
We undeT5tood how the thafity is complyiThJ with tI￿se ￿gaI and reguLAtory frameworks
by maksng enqu￿ of management aThJ those reskKJnsible for legal and compliance
pn)cedures. We corrolyxated our enquiries thrcwh Thjr rèview of Ihe relevant minutes and
correswndence from regulatory bc*Jies;
We idellttfied laws and regulatKH￿ were (￿municated within the audil tearn regularly and
the team remaiied alert to Instan￿ of nOn-￿m￿lance throughout thè audrt.
We assessed th8 susceptibility of Ihe charity's financid ststements lo material mtsstatement,
indudiThJ obtaining an uThJerstanding of how fraud mw3ht occur, by".
The Community of Sl Mary the Virgin 8t Want8ge 12

Independent auditorfs report Year to 30 September 2024
Auditorfs responsibilities for the audit of the accounts {continued)
Making enquirte5 of management aThJ those chapJed with governance as to where they
considwed Ihere was susceptibilty to fraud, their knowledge of ac￿81, suspected and
alleged fraud., arKI
• Consbdering Ihe internal eontrols in place lo mitwJate risks of fraud and non-¢ompliarK*
with laws and regulations.
To address the risk of fraud Ihrough management bias and override of controls. we".
• performed anafytical w￿￿ureS lo identrfy any unusual or unexpectfyy relalionships..
• tested journal entries to identify unusual transacbons"
• assessed whether juthjements and assuMptic￿5 rr￿le in determining the accountirw3
estimates set out in the accounting We￿ indThtive of Fx)tential bias"
• perf0m)￿l substantlve testlng on expeNJlture and the authorisatiori thereof.. and
• invastigated the rat￿)n￿e behiThJ signifKant or unusual tfdnsactions.
In response to the risk of irregularities and rK)n-compliance with laws and regulations. we
deslgned pr(*xlures whkh Induded. but were nol limtted to..
• agreeing finar￿jaI Statement disck)sures to undertying supporting doC￿Mentall0n,.
• readiThJ Ihe minutes of meetings of those Charged with governance and other relevant
reports prepared by management for the trustees"
• enquiring of management as to and potential lthgatth and ¢Faims; and
• revI￿1r¥3 co￿eSpOndence with the o)mpany's IwJal advwrs.
There are inherent lirnilauons in our audit procedures described above. The more femove(J
that law5 and regulations a￿ fr(xn financial transadions, the less likely it is that we would
become awa￿ of non-complance. Auditsng standards also limtt the audit procedures required
to klenlify nonkncompliance laws and regulations lo enquiry of those charged with
governance and management and the inspection of regulatory and legal ￿TrespOndenc&, if
any.
Material misststements that arlse due to fraud can be harder to deW than those that
from orror as thay may invofve de￿berate concealrnenl or c￿lusion.
A further descJiptton of our resF*)nsibtirties fDr the audit of the accounts is located on the
Finarrial Reportlng Counctl's website at VA¥W
ibililies. This
desuiption fcrms part of our auditoes repcwL
The Communty of Sl Mary the Virgin at Wantsge 13

Independent auditoes report Year to 30 September 2024
Use of our rgport
This report is mad8 soldy to the charity's trustees. as a tKKly. in a¢c(*dance with part 4 of the
Charrtigs {Ac(x)unts and Reports) Regulations 2008. Our audrt work has been undertaken so
that we might state to the charivs trustees those matters we are required to state to them in
an aLMlitoVs rerort and for no olher purpose. To the fvllest extent pemiitted by law, w8 do not
accept or assume responsibility to anyone other than the Gharty and the charity's trustees as
a body, for our audit work. for thi5 Tewrt or for the opinion5 we have formed.
Btjzzacott LLP
Slatulory Audilc
130 Wood Street
London
EC2V 6DL
27 March 2025
Buzzacott LLP is ell￿ble to act as an auditor in temis of section 1212 of the Companies AGt
2006
The Community of St Mary the WirrJin at Wantsge 14

Balance sheet 30 September 2024
2024
2024
2023
2023
Notes
Fixed assets
Tansibl8 assets
Invgstmenls
10
14,450,175
16.492,061
30,942,236
14.554,028
16.043.585
30.597.613
Current ass•ts
Deblors
Cash at bank and in hand
12
54.2110
48,997
103,197
87.7LN)
71.915
159,615
Credltors: amnts fallng d
within c￿e year
13
(137.518}
(180.5551
Not eur¥ènt Viabilltl•s}
134,3211
120,940)
Total assets less ¢urrent
Ilabilltios
30,907.915
30,576,673
Cr•dltors: amwnts falb￿ du8
in ￿Te Ihan one ya¥
Total n•t assets
13
115,OlJQ}
30.892.915
150.000}
30,526,673
R*pM￿nt¢d by.
In¢ome fvnds
Restr￿t￿ furtds
Unrestricted fimds
. TarvJiNe ftyed assets fvrxl
- Desigrtr8ted fund
. General furKI
14
73.331
70,367
15 14A50,175
16 4,000,000
12.369.409
14.554.028
4.0(KJ.000
11,902.278
30,819.584
30.892.915
30,456,306
30,526,673
Approved by the trustees on 4
and Sign￿ on Iheir ￿hat[ by..
S6K&
Allson Jestico
Trus18e
The Communty of St Mary the VITgin at W8ntwJe 16

Statement of financial activities Year to 30 September 2024
Yearto 30 SeptEmbtr2024
Year to 30 S8ptemt*r 2023
Total
ds
7Q87T
65207
5.521
70,728
IrNÉslm** incrrn aThJ i)t*rtst
989
672
67,256
Charitatrttr *x1v￿È5
. Rwtsl a￿[ Visitor
217*77
217.677
173,942
173.942
. Miscdlaneou5 I1￿￿rnE
365
26,360
338.286
Total
36Q708
5.521
Expenditur2 on:
CharitstrAe adiffts
. PTh&¢)n of Charl￿Ne
iwts.es al St Ma￿5 c￿errt
. A551sling others in Ihe UK arKJ
1.714919
&01J
1.717.#38
1.698,844
1,701,390
549
1.721.459
32,m
35,292
3&813
1.75Q751
62.716
1,761.5f
42.550
4S.096
IOS,266
1.8(6.656
Yotsl expendltyro
Netexpend1￿rt before
investment gainsfllosses)
translev5 betweEn hmds
Net gains en &sted Investry￿A8
Net IlosseslM *i¥*stm8rt
prtwerbes
11•.7511 131.0361 11391.71T) 11.428.795)
1.771.969
1.7ri.969
751.2W
(39.5751 11.468.370)
751.202
113.9101
1119401
1102781
110.2761
Netincomel lexpendittwel
beforetransfer5 bet**en
funds
Trark81￿$ bets¥8en funds
397278
134,0001
.0361
316342 1687.8691
145.0001
139.5751
1727.4441
14
Il¢t fwK
3fj6.242 ff32.8691
5.425
1727,4441
Re￿n￿lf￿ation otfvnds=
T(A81 funrss brought lotward 811
October 2023
T(*al funds carried forward at 30
Sept8mber2024
45Q306 70,367 N52W 31.189,115
64.942
31.254.117
17 30.819.SB4
n.331 30.891915 30.456.306
70,36T
30.526.673
All recognised gains and k￿eS are ifKluded in the above ststement of financia activ￿.eS.
All of the income and exFendibJre in the above t￿￿ financial years relates to continuir¥J actNit￿s.
The Communty of St Mary the Virgin at Wantage 15

Statement of cash flows Year to 30 September 2024
Year to 30 Year 10 30
S•ptomber SeptpAnb8r
2024
2023
Notes
Cash fl(Ms from operating activities:
Net cash Us￿1 in Lwab"NJ **"vilies
{1.364.3851 11.340.4301
Cash flu4Ys frorn investing activities:
Invest￿nt incorne and inteTesl recaved
Proce8ds From the disrxksal otlisted investments
PfOC8eds frcffl th8 dispos￿ of invèstrnant propeNias
Purcha%e ol tangib￿ fixed assets
Net cash provided by investWl9 activities
74,996
67,256
850,000
1.S50,0(x)
251.060
449.724
143,0821 1547,3361
1.132.974
1,519.644
change ln cash and ca8h •qulvalents In Ihe year
1231A111
179.214
Cash and ea#h •quivalènts al 1 Oetobèr 2023
282,076
102.862
Cash and Cash •qulval¢nts at 30 S•pt*nber 2024
$0,66S
282,OT6
Notss to tho statement of cash flows forthe yearto 30 September 2024.
A Réconclllatlon of net moveN*nt In fvnds to net rA8h usod In operatlng ￿tIVIt*S
Yoar to 30 Year to 30
September SepteTnber
2024
2023
Net movem•nt In funds {as per the statement of financlal actlvltles}
Adju5tmertts for.
Deprecaation tharge
{Gainsl on listèd invastrnonts
Liisses ￿ investment pr(pe
Inveslment irKcThe wtd inter8# T￿l¥ab
Ilncrease)Idecrease in ¢Jebtcws
IDecre8seyincrease in creditcq5 due ￿ rn￿E than OWE year
IDecreasel in exp8n5e creditorn aThJ accnwLs
Net cash uswl In oporattng actlvltle8
366.242
1727,443)
176.978
171,378
(1.700,0351 1751,202)
10,276
(65,9891
{67,2561
{33,$001
10,055
{65,lJ431
20,￿0
143.0381
16.2371
(1.364.385) {1,340,4301
ANalys¥s of Cash and cash equtvalents
Year to 30 Year to 30
S•ptember September
2024
2023
Cash at aThJ In hand
Cash held by ￿vestMent managers
Total cash and cash equivalents
48.997
1,668
50.665
71.915
210.161
282.076
No separate reconciliaticm of debt has been prepared as there is no d"rfference between
the net cashl{debt) ofthe charity and the above cash and cash equivalents.
Community of Sl Mary the Virgin at Wantage 17

Principal accounting policies Year to 30 September 2024
The Principal ￿￿ntir￿j pol￿1￿$ adopted. judgements and key sources of ￿lMatIon or
uncertainty in the preparation of the accounts are lahl out bekjw.
Basls of preparation
The accounts have been prepared under the historical cost convention with items
rec(yJnised al (x)st ￿ transacb"M value unless othenNise ststed in the relevant accountiThJ
policies below or the ￿leS to these accounts.
The acc￿nts have atso been wepared in actwdance wilh AcccMJn*"rKJ and Reporting by
Chartb&s'. Statement of RecommeNle(I Pra¢ti¢e appl¢abl& to charitFes preparing their
accounts in accordance with the Financial Reporting Stsndard 8pplic8ble in the United
Kingdom and Republ￿ of Ireland {Charitw SORP FRS 1021. the Financial RgPOrtirvJ
Standard applicable in the UK and Republic of Ireland {FRS 102) and the Charities Act2011.
Th8 charity constttutes a putlic t￿efft entity as defined by FRS 102.
The accounts are presented in sterling and are rounded to the nea￿$t pound.
crftical accountlng estlmates and areas of judgement
Preparation of the ￿coUnt$ requir8S the trustees to make signifi12nt judgements and
estimates.
The items in th8 accounts where such I￿￿geff￿nts and estimates have been made include..
* determining the value of freehokl land and bu41din9s hekj for investment purFM)ses,'
• astimating the value of the designated fund set aside to provide for the polents.al future
care needs of the CSMV Sisters and to allow the Sistws to wntinue their life In
communty: and
AssÈssmènt ol golng concèm
The trustees have assessed whetherthe vse ofthe going concem assumptlon Is appropriate
in preparing these accwnts. The tru5tee5 have madè this assessment in respect of a period
of at least one year from the date of apwoval ol these acctsjnts.
Whilst there will U￿lOUbtedty be challenges 8he8d (Jue to the ujrrenl macrceconomiG and
geopolitical uncertainti8s. Ihe trustees do not exr￿￿ o7Th*ms to arise over the charity's
financial position.
The trustees of the thanty have ￿￿cluded that there ¥e no material uncertainties related
lo events orCc4)dit￿nS that may (ast signifvxnl do￿11 on the ability of the charity lo continue
as a going concern. The trustees are of the opinion that the charity will have sufficient
resources lo meet its I￿￿litieS as they I￿1 dug.
The Communtty of St Mary the Virgin at Wanlage 18

Principal accounting policies Year to 30 September 2024
Assessment of going concem {conts"nued)
Tha most s¥nifKanl areas of judgement that affect items in the accounts ara detailed above.
With regard to the next acwnting p￿riod. the year ending 30 September 2025, the most
signfficant area that affect the (2rrying value of the assets held by the charity is the
perfomiance of the invesknent markets Isee the risk managèmant and finanGial review
seth.ons of the trustees, report for more infom)ation).
Income recognltlon
Income is reccNJnis¢d in the per•)d in wtmch the charity has enti1je￿It to the income, the
amount of incorr* ean be measured relrdbty arKJ tt ig Probab￿ that the income TrMII be
Income comprises d¢Mations, legacies. investment income and interest receivable, rental
and visilor inctyne, and other incorne. induding any su￿uS on th& diswjsal of tsngible fixed
assets and miseellaneous income.
DonatKJns. induding income of individual Sislers who are members of the Communty, 8re
recognised when the charrty has (x)nfimRtion of both the aTTK)unt and settlement date. In
the event of donaltons pledged bul not received. Ihe amunt ts accrued where the receipt is
considered prithble. In the event that a donatrm is SUbi￿t lo Conditions that requi￿ a level
of perforniar￿ befrKe the charity is entiued to the fijnds. the income is deferred and Mot
recognised until ether th)se cC￿dItIOnS are fulty me( or the fuffilment of those conditions is
wholly wrthin the control of the charrty and it is probable that those conditions will be fulfilled
In the rerxKting pericKI.
In aceordan¢e with thè Charthes SORP FRS 102. volunteer time is not recognised.
Le9a¢ies are induded in the slatement of financial acbvibes when tha charity is enltl8d to
the leg8¢y, the executors have estsblish8d that thwè ar8 sufficient surp￿$ assets in the
estate to pay the legacy. and any condlb'ons attad*d to the legacy are wthin the control of
the charity.
Enltdemenl to legacies is tsken as the earf￿r ofthe date on which either. the charity is aware
that pmbate has been granted or the estate has been finalised and nolfftation has been
made by the executor to the charity that a dislribution will be made., or when a dtstribution is
received from the estste. Receipt of a Wacy. in whote or in part. is onty considered probable
when the amount can be ￿EaSured re]iabty and the charity has been nolified of the
executorfs intention to make a distributicm. Where legacEs have been notified to the charity,
or the charily is aware of the granting of pyobate, bul the uttWi8 for income recognition have
not b&n mel, then the lega￿ is treated as a contingent asset and disclosed if material.
In the event that a gift is in the fr)rm of an assel other than cash or a financial asset traded
on a recognised stock excharge, recogniti)n is subj.eet to the value of the gift being reliably
measurnble wrth a reasonable degree of a￿1racY and the t￿8 of the asset havlng being
transferred to the (*8rity.
The Community of St Mary the Virgin al Wantage 19

Principal accounting policies Year to 30 September 2024
Income recognition {continued)
Investment income from listed investmants is recognised once the dividend has bgen
dedared and notification has been received of the dividend due. Income from the rental of
investment properties is measured at thè fair value of the conshJeration rec8wed or
receivable.
Interest ftjnds hekl ￿ deF4)sit is inckKled when receivable and the amount can be
measure(I reliabty by th8 tharity; this is normally upon notification of the interest paid or
payabbe by the bank.
Rentsl and visitt￿ in￿rne eonsists of income from the rentsl of properties to organisations
or i[￿1VIdual5 within the tharitable objeth.ves of the tharity and income from v¢sitors to the
Convent in Wantsge. This inco￿￿ is measured atthe fairV￿lIe of the con5iderab.on received
or receivab￿.
Other wKorne is mwured al fair value arKI accounted for on an accruals basis.
Expendlture recognitio
Liabilrties linduding charilaL4e (lonalv)n5 aThl grants payable) are recognised as expenditure
as s(K)n as there is a legal or I￿Structive obligation tx)wnmitbng the tharity to make a
payment to a third party, it is probablg that a transfer ol economic benefits wlll be requlred
setttement and the amount of the oblwtth can be measured reliably.
Resources eXpenc￿d comprise the f￿lOWlr￿j'.
a. Expendilure on raisiThJ funds comprises fees paid directty to Investment managers.
b. The costs of chafitable activrlyes comprising eXpend￿are on the charity's primary
charitable purposes as described in the trustees. report and induding the following..
• Charitsble activities urKlertaken al St Mary's CorNent in Wantsge. including
sustsining the Itfe of the Community of Sisters resident there- an
• Assisting others in the UK and overseas.. this cL)mwses charitaL￿e donatiot)s and
grants in SUPFN)rt of charitable work both in the UK and overseas.
AJI expenditure is ststed industve of irrecoverdble VAT.
The maN)rity of costs are direcdy attriiKrtabte to 3￿cIr￿ actNities. Govem8nce costs are
kKated to the provision of charitsble athities al St Mary's ConvenL
Tanglblo fixed assèts
l assets c05kn"rvJ than £1,000 and w.th an expected useful life exceeding onè yèar
are cApitalised arKI depreciated using the rales ouljined below. Assets are reviewed lor
impaimient rf cir(JJmslances indicate their carrwng value may exceed their net realisable
value or value in Ltse to the charity.
The Community of Sl Mary the Vlrgin at W8nlage 20

Principal accounting policies Year to 30 September 2024
Tanglble fixed assets (continued)
Assets transfe￿ed from the CSMV Trust were transferred at their deemed fair value as al
the date of transfer refle￿n9 their value in use to the ¢hai¢ty in Ihe furtherance of its
charilable ciiectives. Addib"ons sirK* that date have been recorded at cost.
• Freeh4)Id land and buildings
Freehobd land and buildings cx)mprisÈ the charity's main freehold propety of Sl Mary's
Convent and olhersmaller propwties. Depreaation is charged the buildings at a fate
of 1% per annum. No dopracAIKM is charged on the land.
• Fr8ehold improvements
Freehokj improvements ccffiprise nK)dernisatH)n and other improvements lo the
charity's woperlies. Depreciation is charged at a rate of 1% per annurn.
• Fixtures and fftlings
Expenditure on the purchase and reF4acement of fixtures and fftlings is c4)itslised and
dèprecialed at 15% to 20% per annum on a stra￿ht-Il￿e basi&
• Alotor vehicles
Motcf vehicles are capilalised and depreciated over a four-year peri¢yJ on a stravJht line
basis in onler to write off the cost of &ich vehide over its eslfmated useful lrfe.
• Plantand machinery and offico 6qulpmenl
Expenditure on the purchase and replacement of rAant and machinery and office
equit¥n8nt 15 wlalised and depwiated over flve to fifteen years on a str8ight Ilne
basis.
F4xed asset investmenls
• Listed investments
Listed investments are a fomi of bas￿ finawal instrument and are initially recognised
at their transaction va￿e and subsequonty measured at their fair value as at the
balance shgel date using the downg qwted market pric£.
The tharity does not acquire wt optI￿ts, derivaltves or other compkx financlal
ir6truments.
noted a￿￿e Ihe main f(m of financial risk faced by the charity ig thal of volatility in
investsnent markets due to wider econcffir condit￿n$, Ihe attitude of investors to
investment risk. and chan￿S in wtiment c£￿¢eMIng investments and within particular
sector5.
• Investn7entproperlles
Pmperties heid for investment purpws are induded in these a¢￿)unts al open market
value.
The Community of St Mary the Virgin al Wantage 21

Principal accounting policies Year to 30 September 2024
Flxed a55et investments Icontinuedl
Realised gains {or losses) on investh)ent assets are calculatèd as the drfference be￿eerS
dlstKJsal p￿eedS and opening carrwng value or their Kwrchase value ff acquired
subsequent to the stsrt of the finanual year. Unrealised gains and losses arg calculalgd as
th8 drfference beh¥een fair value at the year end and carwng value at that dale. Realised
and unrealised investment gains (or losses) are combined in the stslement of financial
activities and are recorded in the year in which they arise.
Debtors
Debtors are recognised at the1rsett1￿ent anvjunt. less any provision for nonwrecoverabilty.
Prepayments are valued 81 the amunt prepai¢J. Debtots have been diso￿nted lo the
present value of the future &ish reCe￿>t vthere s￿￿ discounting is material.
Cash at bank and in hand
Cash at bartk and in hand represe[￿ such accounts and instruments that ar8 available on
demand or have a malurity of18ss Ihan three monlhs from the date ol acquisition.
Credltors and provisions
Creditors and provisions are fecDJnised when there is an obligation al the balance sh8el
date 3$ 3 resAJII of a past event. tt is prObats￿ that a transfer of economic benefit will be
required in settlernent. and the amount of the setuemenl (Sn be estimated reliably. Creditors
and prowsions are rec(onised at the amount the tharity anticipates it will pay to settl8 the
debt. They have been dis(xrtJnled to the present ¥8luo of thè future cash payment where
such discountsng is material.
Funds
Restricted funds (J)mprise moni&s raised for, or wllh Iheir use restrirted lo. a specffic
purpose. or contributions subject to donorryimp05ed condttions. Details of these funds are
givan in note 14 to the aC￿nts.
The chartty's fund5 indude a number of unrestri¢ted inwme funds which are available for
application towards the charity's objectives generdlly. Wrthin unrestricted funds. the trustees
have designated certain amounts fcff specffic purposes and have identified those non-liquid
funds represented by tangible fixed assets. Details of these funds are glven in noies 15 and
16 to the acL)3unts.
Forelgn currencles
Income received. and costs incurred, in foreNJn currenctes are translated into Slerfing at the
rate ofexchange in f￿ at the year end. This policy does nol comply with FRS 102 but has
been adopted to avoKI over-comrAexty. The amounts involved are not material.
The Communty of St Mary the Virgin at Wanlage 22

Notes to the accounts Year to 30 September 2024
1 Incom8 from: Donation5 and legacies
Ythyto 30 Yèar lo 30
vryesth1￿1 RestriGted Septrmber S￿t￿ber
fv￿g
fiJfyJs
2024
2023
members oflhe
Otherthr*thX5 a¥J g)Is
Leg
59.275
2.9)2
14.
76.671
59,275
7.158
14.500
SQ,933
57.091
8.443
5.194
70.728
4,256
2 Income from: Investment income and Snter¢st re￿ble
Yoar fo 30
Yearto 30
Ur*e81￿￿j R8stTh%•J Wernber September
ds
2024
2023
1.X>7
2.675
1.W7
1.507
62.675
1,807
6S,989
4.661
61.515
1.080
67.256
Bank inier8St
For the year ended 30 Seplember 2024 dl listed invesknents were held as shares in
accumulation units rather than income urmts.
3 Income fmm: Renlal and vlsltor income
Un￿striCted funds
Year to 30 Ye8r to 30
september September
2024
2023
Incc¥Me from Ot4ates. Asswates aThY olher vi8iio
R8ntal in(x)m8
122.009
95,66
217.677
80.442
93,500
173.942
4 Miscellaneou5 In￿Me
Unrestricled fvnds
Year to 30 Year to 30
Septsmber S8Pt8mb8r
2024
2023
MI￿13r￿0￿5 AKx*ne
365
26,360
Miscellan99us 1￿c¥￿e for the year to Seplember 2023 induded £25.000 beiThJ a gift over
from St Dunstan's Abw School Trust in favour of CSMV.
The Community of St Mary the Virgin al Wantage 23

Notes to the accounts Year to 30 September 2024
5 Exponditure on: Charltable actlviiies
Y•arlo 30
Year lo 30
Lth￿strIC￿j Restiidej Septembvr SeplpmbBr
funds
2024
2023
onvent
siaff Irth 81
Premi88S ¢￿t$
Cmher Iiviry F*scthl costs
Dewedation
AdMIn￿￿¥t sthJry¢aws
G0Vem8r￿ costs lTrx&61
817.534
397.
163,643
176,978
81.118
18,622
1.714.919
877,534
39T.024
163,643
17Q978
84.137
t8,￿2
1.717.938
820.113
373.940
234.108
f71,378
3.019
22.543
1.701.390
1019
3B,813
10&266
1.721.459
35.292
1,756,751
1.806.656
6 Govemance costs
Unrestrtcled funds
Year to 30 Year lo 30
September Septemb&r
2024
2023
Audit and related fees 71
Trustee expenses
PrOfeSsh￿81 tees
1S,SOO
41
1.750
17.291
14.750
47
6,321
21,118
7 Net movemènt in funds
This is ststed after charging:
Year to 30 Year to 30
September S8Pt8mbar
2024
2023
Slaff cts5ts Inote 81
Auditorfs renuneration
. ststutw au¢Jrt
. HR consultancy
Depreuabon
877.S34
820,113
15,$00
14.750
4,415
171,378
176,978
Communty ol St Mary the Wirgin al W8nbJe 24

Notes to the accounts Year to 30 September 2024
8 Staff costs. trustse$' rgmuneratlon and Y•muneratlon of key management ￿T￿onTrOl
Staff costs duriry the year were as folknws..
Year to 30 Year to 30
September
S8Ptemb8r
2024
2023
Wages and salaries
Social security costs
Pension eogts
Othw staff costs.. redurKla
794,$58
06,806
10,170
744,¥29
56,153
15.376
3,655
820.113
877.534
RedurKlancy costs in the year lo 30 Septembgr2024 includgd ex-gratia payments of£3.655
10 1 emtAoyee.
The average he8dcount Was 33.0 (2023- 33.251.
No employees eamed £60,￿0 annum or rn0￿ (including taxable benefits but excluding
emph)yer pension contribu*ons} during the year12023- none).
The key management perS￿ne1 in charge of direding arKI managing the charity comprise
the trustees linduding the Sister in Charge) and the Steward. The totsl remuneration paid
to key management personnd in 2024 was £61.63512023- £51,356).
As a member of the Communtty. the INing and personal expenses of the Sister in Charge
are borne by the charity. The Sister in Char9e recerves no remuneralion or reimbursement
of expenses in conneclion wih her dulles as a member of key management personnel. Her
living and personal expenses. wh￿h a￿ bome by the charity. a￿ Consistent with anyjunts
paid in resF*Ct of other members of tho Community.
None of the othw trustees received any remuneration in o)nnection with their dutigs as
stees. £270 01 expenses (2023- £47) were r￿Mbur$ed to trustees {exdudirvJ the Sister
in Charge. see above).
9 Taxation
The charity is not Ibable to income tax orcorporation tax on income derived from its charitable
actr¥11￿. as Èt fais within the various exempt¥)ns avaiLible to registered charities.
The Communty of St Mary the Virgin al Wantsge 25

Notes to the accounts Year to 30 September 2024
10 Tangible ￿ed assets
twilLfjrwJs
uiwent
v8hic￿$
Totsl
Cost tsr valuation
At 1 (ktrthr2W3
14.928.728
81.403
14,990.131
456.393 284.917
7.415
4.207
463.808 289.224
26.919 IS696.957
73.125
26.919 15,770,082
At 30 Sewember 20
6.895.132 463.808 289.Z24
8.094.999
14,W),131
26.919
7.675.083
&1194.999
2e,919 1877Q,082
Valuation (do￿￿ C￿
463.808
289.224
Deprtciatiort
At 1 Octthr 2Q23
Charge the
A¢ 30 Septemttr3)24
602.
127.325
730.293
330.919
79.321
.240
182.123
30.332
212,455
26.919
1.142.929
176,978
1.319.907
26,919
At 30 SertsM￿r 2024
At 30 S8o*nt*r2023
14259.839
14.325.7
113.568
76.768
14450.175
145¥02B
125.474
1W2.794
Tha net book ￿lue ot freehold land. buildings and improvements at 30 September 2024,
consisted of.
2024
2023
Freehold land
Fr£ehold buildirys
FreetrKJld improvem
2,765,880
2.765,880
3.965.385
4.008,676
7.528,573
7.551,204
14,259,838 14.325.760
At 30 Seplember 2024 there were no capital u)mmitments12023- £nill.
The freehold land and buil¢Jings of the charity w8r& revalued by its predecessor chartty
during the year to 31 Marth 2018, based on a valuation perfomie(I by Green & Co in
acC(Kdan￿ vrilh the appropriate seth.ons of the Royal Insth"tub"on of Chartered Surveyors
IRICSI Valuation Professional Sfandards incorwJrab'rKJ the Inlemation81 Valuation
Standards, Global and UK Editi￿, January 2014 (the 'Red Boc*'l. The assets were
transferred to the charity Trmth effecl from 1 October 2019 and the 2018 valuation nel of
accumulated deprecAation was taken as being reflective of their fair value as al that dale and
their deemed cost going foThvards. Additions ate recrKded at cost.
The Communty of St Mary the Virgin al Wantage 26

Notes to the accounts Year to 30 September 2024
11 Investments
At 30 September 2024 fixed asset investments wnpriwl:
2024
2023
Free￿￿d inveSt￿nt properbB5
Listed irbveslments cash hekl
2.640.OIXI
2.905,000
13.852,061 13,138,585
16,492,061 16.043.585
With the exception of the pro￿ty redassrfied as an investment property in the year ended
September 2022 (cost of£1.[￿,[￿), the malC￿ty0f investhienl properties were purchased
or constructed ty the tharity's predecessor chanty very many years ago and rKJ reliable
record of their oroinal cost can be fouwvj. However. il bdieved that the histcyical cost
would have been r￿ligible. The trustees are of the cTJIn￿Jn that the inability to disclose
inf0m￿tiOn rdatiThJ to the historical cost of these properties does not detract from the
nderstsnding of ts accounts.
A]1 freehold investmenl propefb.es wer& fomplty valued on an open market basis as at 30
September 2022 by rim Green MRICS. RICS Registered va￿er on bèhaK of Green & Co
(Oxford} Limf(ed. The valuation wa% rarried out in ac(x)rdan¢e wlkh the International
Valuation Standards (IVS) and in a(£ordance with the current RICS Valuation Practice
Standards (The Red Bookl. The Trustees have assessed whether there have bèen any
matefial m¢)vements sirKe this date have Conclud￿ that Ihere have not been any.
Movements on freehokj investment [ffoper￿eS are summarisetl below.
Y•arlo 30 Year to 30
SeptèmbBr September
2(124
2023
Value * 1 ora0￿r 2023
S81e ol FKopety IN8t w0￿d$.. £251,060. I￿. £13.940}
Value at 30 Septemt*r 2024
2,905,000
3.365.000
1265.000) 1460,0001
2,640,IXIO
2.905.000
Movertwits on listed investments are summarlsed below:
Yèarto 30 Yearto 30
Septembar September
2024
2023
Listad lftvestments and cash h•ld for r*llin¥e$tmoyrt
sted investm•nts
Market value at 1 Cktober 2023
Di5FKwls at value Iwlteeds: ￿.(#xl. gains.. £71.9341
Net unr88li5ed gair
mar￿ value at 30 SgPt8mL*r 2024
12,928,424 13,727,222
1778,066) 11.549.472)
1,700,036
750.674
13.850.394 12.928.424
210,161
13.852,062 13.138.565
Cost ol listed inv95trnents at 30 Septen*8r 2024
8.858.978
,637,043
The Community of Sl Mary the Virgin at Wantage 27

Notes to the accounts Year to 30 September 2024
11 Investment$ (continued)
I listed investments were dealt in ￿ 8 rectsjnised stock ex¢harKJe or on an 8CtNe market
readily available quoted prices. Listed investments held at 30 September 2024,
compriwl the fO1￿￿n￿.
2024
2023
P￿led inves1m￿l fund5
Cash held by investmenl nwrwJa
13,850,393 12,928,424
1.668
210.161
13,852,061 13,138,585
The foHowing hohJFngs in pC￿led invesbnent fiJnds were thè ¢)nty significant hc4dings al 30
Seplember 2024..
At30
S•pt8mb8r
2024
Y•of
investments
CBF Church of Engla)d Investm8nt Fund Awmulation
CBF Church of Engl￿d Gk)ba Ewty knxJmulab(
8.779.570
5.070.823
63%
37%
The asset all￿tiOn of the pmjoled investment funds at 30 Seplember 2024 was a5 follows:
Allocation
2024
2023
UK equit*s
Overseas eouil
Cash and liquidrty
Property
9.1%
62.3%
2.4%
3.9%
22.3%
100.0%
9.1%
72.2%
1.4%
2.1%
15.2%
100.0%
12 Debtors
2024
2023
Prepayments
VAT rewveraAe
oth8[ d8bttxs
34597
1366
17.237
54,21JO
33.570
14,514
39.616
87,700
The Community of St Mary the Virgin al Wanlage 28

Notes to the accounts Year to 30 September 2024
13 Credltors
al Amounts falling due within one year
2024
2023
E¥p8n5e credito
Grant commitsnents
Accruals and deferwd incA)me
cT8dtto￿ in res￿1 to langiNgfred ass*s
55,049
35.000
17.426
30.043
137,518
41,228
35,000
14,750
89.577
180,555
b) Amounts falling due in more than ono ￿ar
2024
2023
nt o)mmttments
15,0
50.(X)O
14 Restricted funds
The income ftjnds of the charity w￿lude restrlcted funds wmprising the folk)wing
Unex￿nded balances of donatbjns and grants hetd on trusts to be applied for speufi¢
purposes-
At30
Septqnthr
2024
1.725
2.481
12.1)661
19531
132.2731
135.2921
21497
43.290
74331
41.513
70.367
The spectfic Purposes for whth the funds held during the year and a130 September 2024
afe lo be applied are as follows..
The CSMV Associates fund 15 used forlhe instruction and support of CSMV ASS￿l81e$.
• The CSMV Oblates fund is used fc* the instrucbon and support of CSMV Oblates.
• The Wantsge Overseas fund is lo support continuing charitable work in India and AfrTh.
Transfers from unre51rthd funds represents funds alkjcated by the tfustees to support
this fvnd.
Community of Sl Mary Ihe Virgin at Wanlage 29

Notes to the accounts Year to 30 September 2024
15 Tangib￿ fix￿ asset furrfl
Yearto 30 Year lo 30
S8ptemb8r
Septembsr
2024
2023
At 1 Octobw 20Z3
Net movement in penoj
At 30 Seplemljer 2024
14,554,028 14.178,069
1103,8531
375.959
14.4S0,175
14.554.028
The tsngible fixwj assets fund represents the net tr￿k value of the charity's tangible fixed
assets. A decision was made to separale this fund from the general fund of the charity in
recognition of the faGt that the ta[￿lbIe fixed assets are essential lo the day-l￿daY work of
the charity and as such their value should not be regarded as funds that would be realisable
wilh ease to meet future contiThJencies.
16 Designated fund
The income funds of the charity include the folluwing designated fund set aside out of
unrestricted funds by the trustees ftx a specific purpose:
At30
S•ptsmb¢r
2024
1 Ocloter
New
2023 Released 1$9$wJnation
Ststefs, Ca￿ lund
4.(1￿.4￿X)
4,000,01
The Sisters. care fijnd consists of mcmies which the tnjstees have set aside to ensure
sufficiont funds are a￿AyS availab￿ to allow the Sistars to continue their lrfe in community
and to care for them as they gr(N4 dder. The trustees have recently undertaken a detailed
rev￿ of the basis for calcufating the reserve. tsking account of the relatNely high and
increasing costs of [￿0vidIng care and Ihe current number of Sisters. The value of this fund
will continue to be revieNved annualty using actuarial princiFAes.
17 Analysis of net assets between funds
Fund balances were represented by the followiNJ assets and Ilabilities..
Tangib
assets ar¥J
At30
Genernl designaied Rgstricted Septemb8r
fund
fwids
2024
Tangkble fixed assets
Investments
Nel current lliabl￿￿5Y assets
abilities more Ihan C￿ year
Totsl net assets
14,450.175
4.000,0(NJ
14450,175
16,492,081
134,3211
115,0001
73.331 30.892,915
12,492.061
1107.6521
(15,OCKII
12,369.409
73.331
18.450,175
The Communtty of Sl M8ry the Virgin at Wanlage 30

Notes to the accounts Year to 30 September 2024
17 Analysis of net assets between fund$ IrAJntinued}
Tarpb
fixed
as5efs 8nd
At30
G8ner81 d8sign818d Resb7Cted September
fvnds
fvnds
2023
Tang￿1& h8da&s8ts
lnvèstn￿ts
Net (l￿bIlitie$y8$$ets
Total not assets
14.554.028
4.0(10.C190
14,554,028
16,043.585
70.367
(TO.940)
70,367 30,526,673
12.043,585
1141.307)
11.902.278
18.554.028
18 Ultimate ¢ontrol
The charity is ￿￿tr￿led by ts members WIKJ ¢(Mnwise the trustees. The liability of the
members is limited. If the charrty is wound up, the members have no liabllity to contribute to
its assets and no persona resp￿sibl1ty for settting its debts and liabilities.
19 Related parties
One of the trustees is married to a former employee of the charity who retired in ApTiI 24.
The appointrnent of the em&loyee was by the CSW TrusL the charity's predecessor
charEty. The CSMV Trust sought permission from the Charity Cornrnission prior lo the
appO￿lment and no obJ"ecb"ons were raised by the Charity Commission.
Trustee expenses are dosdowj at note 8.
There a￿ no other relaied party transactions that require disdosure12023- none).
20 Post Balan￿ Shaet Events
The￿ were no post balance sheel events.
The Community of St Mary the Wirgin at Wantage 31