¢h•rlty R•gl¥tr•tion 1188025
Company R•gl•trAtion No. CE020748 (England and Wal••l
SISTERS OF ST JOSEPH OF THE APPARITION CIO
TRUSTEES. REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024

SISTERS OF ST JOSEPH OF THE APPARITION CIO
LEGAL AND ADMINISTRATIVE INFORMATION
Tru•teu'
Sisler J Arrowsmilh
Slsler T Cooney
&'sterA Callaghan
Sister M J J Aye
Sister M E McNamaTa
Slsler D Vassallo lappoinled 4 Dec8mbeT 20241
Sisl&r E Talov lappoint•d 11 February 20251
Charfty numb•r
1188025
Company numb•r
CE020748
Prln¢lpal •ddr••$
Convenl of Sl. Emllie
Grangg Road
Bowdon Vale
Cheshire
WA14 3EZ
T•l•phon•
0161928 4412
EamaS1
provbur
slapp.org
Audltorn
Azets Audit Seryices
Alpha House
4 Grggk Stroet
Stockport
SK3 8AB
Banker•
Royal Bank of Scotland p
Drummond Hous8
1 Redheughs Avenue
Edinburgh
EH12 9JN
Sollcltorn
Stone King LLP
Broad Quay House
Bri5t
8S14DJ
Inv••tm•nt min•g•rn
Bardays
4th floor, Bridgewaler Hous8
Counterslip
Finz8ls Rèath
Biistol
BS168X

SISTERS OF ST JOSEPH OF THE APPARITION CIO
CONTENTS
P•g•
Trustees, rèport
Statement of truste•s' r•sponsibiliti8s
Indep&ndenl audltors, report
8-10
Statement of financial actiwties
11
Balance sheet
12
Note8 lo the a¢¢ounl8
13-23

SISTERS OF ST JOSEPH OF THE APPARITION CIO
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Tho Trustèès pr&sent thair report and a¢¢ounts for the year 8ndad 31 D￿mber 2024
INTRODUCTION
The Sisters of Sl Joseph of Ihe Apparition CIO 1188025 (previously Charilable Trust 2265711 is part of an
international Roman Catholic Religious Congregation supporting many Sisters woddwide. 11 was founded in
France in 1832 and is dmded into indiwdual provinces. Its Generalate is now located in Rome.
The 8cxounls a¢¢omp8nyrng this report are the 8e¢ounls of1he CIO of which the assets of tha Congregation in
England are held.
MISSION
The Si$leis of St Joseph of the Appaiilion CIO aims lo support the religious and other charitable works carried on
by the members of the Congreg81ion and to cale foi those members throughout their lives within the
Congregation.
Their overall objective is to further the knovAedge of God's love lor humanty through the lives 8nd actions of its
members working for the wellbeing of people, whether directly through their own involvement, or indiredy when
that is impossible, by financially supporting Other charities in a position to do so.
en setting th& objèth'vg$ and planning the work of tho Charity for thg year. and when encouraging the work of
individual si$lÈrs and18y staff. thè trustees have given ¢aTeful ¢onsideialion to the Charrty Commission's general
guidance on public benefrt and in particular lo ils supplementary guidance on the advancement of Teligion and
fee charging.
The original objective or mission of the Charity in this Province was to wovide care homes for aged, infirm and
indigent people who could contribute according to their means, Ihe deficiency in their eonlribulions being made
up, as far as possible, by donations from friends.
These objectives were subsequentty widened - in line with the spirit of the Order and the needs and opportunities
which arose- to indude the provision of schools, ho$pttal$ and social work.
In recent years OUT direct invofvement has been ¢on5iderabty reduced due to the lack of ¢andidales lo the
Religious Life and the consequent inc¥ea5e in the average age of the Sisters of ihe Province.
However, they are currently invofved in..
Caring for the members of the congregation
Social and pastoral work
0￿ratiOn of a nursing home
Supporting thèir Religious Order Intematitsnal missionary work
Supporting other Charities who do similar work.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governanc•
In terms of Canon Law. the CongTegalion 1$ goveined at an inlernalignal level by the Superior General
and her General Council who live in Rome. The General Coun¢il Members are elected every six years al
a General Chapter which is a rneeling of repre5enlalives ol all the Provinces of Ihe Congregation.
The English congregation became part of a larger European Prownce in 2019. Thè management of this
Province con5isls of a European Provincial Sister and a team of Sisters. called Couwllors.
In terms of C¢vil Law the Charity is governed by the Constitution of the Sisters of St Joseph of the
Apparrtion CIO. agreed by the appli¢ants on 03 January 2020, and registered on 18 February 2020.
Règistèrèd Charity numbèr 1188025

SISTERS OF ST JOSEPH OF THE APPARITION CIO
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Currnnt Tru$ts•$
Sister Mary McNamara- Chair ol Trustees and Bursar
Sister J8nelArr¢)wsmilh- Management Team
Sister Gabriel Cooney- Management Team
Sister Marie Ju Ju Aye- Management Team
SisterAnita Callaghan
Sister Agni Papaiologou Iceased 2 November 20241
Sister Florentina Ciobanu (ceased 2 November 20241
Sister Dennise Vassallts lappointed 4 Decembèr 20241
Sister Ecalerina Talov lappoinled 11 February 20251
Stru¢tur• and management reporting
Th¢ tsustees are ultimatety responsible for the policies, activities and assets of the charty- They meet quarterly
lo rewew dèvèlopments with regard to the charity or its actwities. When necessary, the trustees seek advice and
support from the ¢harty's professional 8dvisars.
A local management team tsf Sisters Control the d8y lo day fundions of the Ioc81 adivities.
The day to day management of the Lady of the Vale Nursing Home is delegated lo the exièmal management
company ca￿pOrt Limited with appropriate member5 oflhe qualified management team in house.
Riik managèmont
In line with the requiiemenl for Iruslees lo undertake a ii$k a$$tr$smgnl ¢x&r¢i$e, and report on the same in their
annual report. the Iruslees have lookefl al the risks the cong￿g9110n la¢es and have rev*wed the measures
already in place or needing to be put in place, lo de81 wlh them.
Having assessed the major risks to which the charity 15 exposed, the Iruslees believe that by monitoring reserve
lèvels, by ensuring controls exisl over key financial systems, and by examining the opèrational and business
ri$k$ facèd by thè charity, thèy hav8 established effective systems lo mitigate those risks.
ACTIVITIES AND SPECIFIC OBJECTIVES AND RELEVA14T POLICIES
In setting our objectives and planning our activities the Tru51ees have given careful consideralton to the Charity
Commission's general guidance on public benefit.
l. Carfng for thg m•mb•rg of th• Congrggation
The Congregation has an obligation to provide care lor its members, none of whom have Tesources of
eir own and all of whom, as committed members, have devotèd a significant part of their livès lo the
care of the elderty. pool and m8rginaliied in so¢iety. The Trustees feel they must make adequatè
arrangemenls for any conlingpncies whith might arise.
2. Spiritual, Social and pastoral work
The aims of the trustees in this afea, where possible, are to enable all members of the CongregalBJn to
carry out meaningful SOCAal and pastoral work wilhin the communrty after assessin9 their skills and the
needs of the local area

SISTERS OF ST JOSEPH OF THE APPARITION CIO
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3. Lady of the Vale Nursing Home
The philosophy of care at the horne is to ensure a hornely. friendly and open atmosphere among
residents and slaff whilsl maintaining the privacy, dignity, rights and quality of lrfe of 811 residents. In
operating the Home the trustees aim to prowde excellent care by employing high qualrty staff, and
ensure th81 the home meets thè required standards and 1$ financialty wable.
4. Supporting Intem•tional mission¥ry work
The Charity provides the onty financial support for the Congregation's heaMhcar& and educational
mission in Peru and supports international projects wherever a need arises.
S. Donations and support of mlsslonary work and ministry
Don8lions in support of missionary work and minislry overseas are de¢ided on by the Tru$lees. The
Charity supports the work of several other ch8rrties, induding CAFOD. sennng needs in undertl&vel(>ped
countries. The Charty also give5 SUPPOrt lo organisations in the United Kingdom and Ireland whose
work is within the objects of the Chaiily. The Charity does not regard itself as a granl-making enbty.
Other Sp•¢ific Oblectlves and Relevant Pollcb8s'.
Protsction of Childrttn •nd VLtln*r•ble Adults
Along with all other organisalion5 who serve in the communty, the TtU51ees recognise Iht absolute
necessity of ensuring the proleclion and Safety of all those the Charity 5erve5. The Trustees are ¢ommrtted
lo implemenling all policies and procedures of the Catholic Safeguarding organisations. One of the sisters
has b•en nominated as Safeguarding link.
Inv¥stm¢nt poll¢y
The Chaiity'5 investments are fflanaged by BaT¢lays. There are no restrictions on the Charty's power lo
invest. The inve51menl 51ralegy 15 authori5ed by the Truslees and lakes into account income requirements,
the risk profile and the investment manager's view of the rnarkel prospects in the medium term.
Thè policy is to maximise total return through a diversified portfolio whilsl providing a level of income
adwsed by the Trustees from time to time. There is also an Ethical Policy precluding investment in any
mpany which, after reasonable enquiry. clearly has significanl profits from an a¢tivily which is contrary lo
the objeetives of thè Christian Chureh.
The performance of the portfolio and the Charity's inve$tmenl $lrat¢gy are roviewed by the Trustees who
rneet with the investment managers every year.
Propèity Management Pollcy
Thè trustees have adopted the management of their property portfolio by an annual ieview of the properties
and land held wrthin the ¢harty. Decisions may ba made at different times if. for example. a let property
becomes vacanl.
The 5Ultabilrty of the accommodation for thè ageing sislers will be fLJlly reviewed each year. as the desire is lo
keep the Si5ter5 In their own communtty horne for as long as possible.
Consideration will be made of the sustainability of any property in order lo avoid situations Wha￿ costs will be
incurred on a property that will be closed in the very neai future.
Before signing any contract conceming property, Ihe truslees must discuss the issue in depth with advice
from Èxtemal professionals. All major decisions have to be submitted lo the Europèan Provinctal Team.
Permission is thèn obtained to sell or buy through the Provinaal who is obliged to obtain pemiission from the
General Supeiioi in Rome.

SISTERS OF ST JOSEPH OF THEAPPARITION CIO
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
ACHIEVEMENTSAND PERFORMANCE
1. Care of members of the Congregation
The Charity continued to assist members ol Congregation in Iheir charitable and relig￿US work, and also
attend lo their physul and spirittsal needs. Members of the Congregation are given the opportunty for
private worship and tc¥ ¢tsnlinuo lo dèvelop their knowled9e and Iiu$l in Jesus through quiet prayer. study of
the Bible 8nd spiritual retreat.
Spiritual, Social and pastoral work
The Sisters, where possible, conlinued throughout the year to carry oul as Tn8ny fomis of social and
pastoral work in order to lulfil their individual ministriès. This work enables Ihe Charrty to reach out to Iho$e
in need within society generalty. Four Sisters from Myanmar now work he￿ under our sponsorship. Three
Sisleis are based in Ihe deprived area of Whenshawe. Manchester and one Sisler is the Superioi of the
Bowdon Convent in Cheshire.
Lady of th• Vale Nursing Home
The qualify of care being pmvidgd in thg Home has b￿n maintained and continues to meet the
ftvqulrnmonls of th• Qualily Cat¥ CommASSiOn.
The Trustees made the decision to employ an extem81 M8nagemenl Company Careport Ltd lo oversee the
day lo day management of the Nursing Home in pla￿ of the Si51er5 themselves, and also to further irnprove
the Nursing Home. The Trustee5 continue to mon¢tor the m3nagemenl of the nursing home.
The Charity donated £250,OIX) 12023 £10,152) to the Home, from a reslrided fund for a major
refurbishment. in the prior year funds were transferred to assist families in need of financial help.
The trustees feel thal it is important to support thè Nursing Homè and havè reeently assisted financially with
cash loans lolalling £200,000. the home is now in 8 90011 position to repay these loans.
l. International missionary work
During the year the charity transferred £232.135 in Solidarity giving lo various countriÈ$12023 £211,521). The
Trustees again supported their work in Peru- £45,00012023 £40,000).
The English Charity now supports the Irish charily- £117,34212023 £84,263).
5. Donotions and $upport of mlsslonary work and mlnlsty
General Fund Alms giving lolalled £171.205 12023 £121.0331. This was donated mainly to UK charitie5 and
individuals. Some of the UK charities have over5ea5 opeialions.
Restricted Fund Alms giving tolalled £88,281 12023 £80,661}. This is a fvnd 'managed' by the sisters to assist
the 'elderty over 55, in the UK onty,. This can include the charity nursing home and the sisteTS.

SISTERS OF ST JOSEPH OF THE APPARITION CIO
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
FUTURE PLANS
The trustees will contsnue to monitor the acliwlies of the d)arity and make thanges where necessary as they
onlinutr lo".
care for the sisters and lo monitor the need5 of the sisters as they grow older and, rf necessary. adapt
the charity's plans in respect of property needs and the prowsion of care lo eldetly members. To
encourage our fundamenlal missionary spirit, in facilitating in(ernational communib.es while living and
helping in a mullicullural area.
operate a Ca￿ home. via 8 management ¢ompany, and. In particular lo provide qualtty of ¢are for
iesidenls In 8 dignified and friendly environment".
support the Congregation's work in the Far East, Latin America and the Middle East and for the trustees
to satisfy themselves that ihe funds are applied for their inlended purp￿.
make donations to charities to enable missionary and ministry work lo be carried out in the UK and
around the world to further the knowledgè ol God's lovè for humanity.
RESERVES POLICY AND FINANCIAL POSITION
The balance sheet shows lolal reserves of £41,271,730. Of this £33,263,284 is represented by properties plus
inve$lmenls used lo support the work of the Sisters.
Induded in the Investments are".
A designated fund, being the Sister5 Pension Fund.
This 15 to provide support for Ihe si51ef5 in Iheir retirement.
A Restricted Fund, being Ihe Leeming Fund.
This is to provide help, restricted to people living in the UK and aged over 55 years. Thi5 can be donated
to Charitiès in the UK or indiwduals who ne•d h61p to stay in their own homè.
The charity is proud lo work with Maggies to relieve the sudden finan¢i81 pressures ol ill health due to a
¢an¢&r diagnosis and medi¢31 treatment.
The reader will tliscem from the foregoing Ihat Ihe tharity ¢arries oul a diverse range of activities 3nd is
responsible for care and support of sisters whose avera9e age 15 increasing and whose neèds a￿ changing.
The trustees have examined the need for free reserves i.e. those unrestricted funds not invested in tangible fixed
assets, designated lor specific purposes or otherwise committed. The Irustees consider that, given the nalure of
the charty's work and its commrtments, the level of free reserves should be approximatety equal to 8 months,
expenditure.
DIscI￿ure of Inforni•tlon to •udlior8
Each ol the Trustèè's has confirmed that there is no infom)ation of which they are aware which is r81èvant to the
audit. bul of whi¢h the audrtor is unawa￿. They have further ctsnfimied that they have laken appropriate steps lo
identify such relevant inforrn8lion and lo eslablish that the auditors are aware o15uch information.

SISTERS OF ST JOSEPH OF THE APPARITION CIO
TRUSTEES. REPORT (coKfiNUED)
FOR ThIE YEAR ENDED 31 DECEMBER 2024
Audltorn
A2ets Audl SeMc•s were aFpoknled auflttm to the compffj. a ro3oluUon wcyo¥lng that ba fè4PPOint•d
WMI b8 Put to thé member•.
On bohaWofth• bomrd offrust￿l.
Sht•r M M¢Mamw*
Twslee

SISTERS OF ST JOSEPH OF THE APPARITION CIO
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Iru51ee5', who are a150 Ihe directors of Sisters of Sl Joseph of the Apparition CIO for the purpose of
company law, are responsible for preparing the Trustee5' Report and Ihe accounts in accordance wth appli¢ablfj
law and United Kingdom Accounting Standards (United lfjngdom Generally Accèpted Accounting Practs'¢el.
Company law requires the twstÈe$' lo prèp8re a¢¢ounts loi each financial year which give a tru& and fair view of
the Stale of affairs of the charity and of the incoming resources and applicalion of resources. induding the
income and expenditure, of the charitable company for Ihal year.
In preparing these accounts, the tnjslees. are required to..
selecl suitable acojunting poliaes and then apply them consislenlly.,
obseNe the methods and prineiplè$ in the Chanties SORP..
make judgements and eslimales that are reasonable and prudent., and
prepare Ihe accounts on the going COr￿ern basis unkss it is inappropriate to presume that the charity will
continue in operation.
The irustees, are responsible for kèèplng adequate aeeountlng ￿COrdS that disclose with reasonable aceuracy at
any timè the financial position of the charity and enable Ihern lo ensure th81 the accounts comply with the
Companies A¢t 2006. They are 8lso responsible for 5afeguaTding the assets of the charity and hence for taking
reasonable slep5 for the prevention and detection of fraud and other irregularities.

SISTERS OF ST JOSEPH OF THE APPARITION CIO
INDEPENDENT AUDITORS, REPORT
TO THE MEMBERS OF SISTERS OF ST JOSEPH OF THE APPARITION CIO
Opinion
We have audited Ihe accounts of Sisters of Sl Joseph of Ihe Apparition CIO for the year ended 31 December
2024 sel oul on pages 11 to 23. The finanual reporting framework that has been applied in their preparalion is
applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting
Practicel.
This ieport is made solely lo the charitable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 20CkS. Our audit work has been undertaken so that w• might slate lo the
charitable company's rnembers Ihose rnatter5 we are required to state to them in an auditors. report and for no
other purpose. To the fullest extent pemitted by law, we do not accepl or assume responsibility lo anyone other
than the charitable company and its members as a body, lor our audit work, lor this report, OT lor the 0￿.niOnS
we have fom)8d.
In our opinion the financial st8lemenls'.
give a tnje and fair view of the stale of the charity's affairs as al 31 Decernber 2024 and of its incoming
resoLtrces and application of resources, for Ihe year then ended.,
have been properly prepared in accordance with United K4'ngdom Generally Accepted Accounting
Practice". and
have been prepa￿d in a￿ordanCe with the requirements ofthe Chanties Ad 2011.
B14sis for opinion
We conducted our audit in accordance with International Sl8nd8fds on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audil
of the financial stalements section of our report. We are independenl of the charity In a¢cordan¢e with the
ethical requirements that are relevant lo our audit ol the financial statements in the UK, including the FRC'S
Elhical Standard, and we havè lulfilled our other ethical responsibilities in accordanee with these requirements.
We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis lor our
opinion.
Conclusions r•lating to going conc•m
In auditing the financial statements, we have concluded that the tru51ees' use of thè going eoncem basi5 of
accounting in Ihe preparation ol the financial slatements is appropriale.
Based on the work we have perfom)ed, we have not identified any material uncertainties relating lo events or
conditions Ih8t. individually 01 ¢olle¢lively. may ¢a$t signrficanl doubt on the ¢harity'5 ability to continue 3$ 8
going concern for a period of al lea$1 twelve months from when the financial slalements are a¢Jthori$ed for
155ue.
Our responsibilities and the responsibilrtie5 of the charty with respecl lo going CLJncern ar& described in the
relevant sections of this report.
Other Infomiatlon
The other infomalion ctsmprises thè information included in thè annual report olher than the ffinan¢ial
slalemen15 and our audilorfs report Ihereon. The Iruslee's are iesp()nsible for the other information containÈd
within the ann(Jal report. Our opinion on the finan¢ial slalements does not ¢tsveT the other information and we
do not express any forrn of assurancè conclusion thèrèon. OUT responsibility is to read the other information
and, in doing 50. consider whether the other Information is materially illcon5islenl wrth the finanaal slaternenls
or our knowledge obtained in the course of the audil. or otherwise appears to be materially misslaled. 11 we
identify such malerial inconsistencies or apparent material misstatements. we are required to detemiine
whether this gives rise to material misstalement in the financial statements themselves. If, based on the work
we have perfomed, we conclude thal there is a material misstatement ol this other inltsrm8lion, we are required
lo report that fact.
We havè nothing to reptsrt in Ihis règard.

SISTERS OF ST JOSEPH OF THE APPARITION CIO
INDEPENDENT AUDITORS, REPORT (CONTINUED)
TO THE MEMBERS OF SISTERS OF ST JOSEPH OF THE APPARITION CIO
Matters on whlch we are requlred to report by exception
We have nothing to report in respect of the following rnatter5 in relalion lo whsch the Charrtses A¢t 2011 require
us to report to you if, in our opinion..
the information given in the financial statemenls is inconsistent in any material respect with the report,.
or suffiaenl accounting records have nol been kept,. or
thè financial statèments are nol in agreement with Ihe accounting records," or
we have nol ieceived all the information and explanations we require for our audit.
Responsibilities of tru¥tee$
As explained more fully in the statement of responsibilitie5. the truslees are responsible for the preparation of
the finanaal statemenis and for being satisfied thal they give a true and fair view, and lor such internal control,
as the trustees detemine is necessary to enable the preparation of the financAal statèments that are free from
material misstatement. whether due to fraud or error. In preparing, Ihe financial statements. the trustees are
responsible for as$e$sing the charity's ability to continue as 3 90ing concèm, disdosing. as applicable, matters
related to going concern and using the going concem basis of accounliiig unless the trustees either inténd lo
cease operations or have no realistic attemalive bul lo do sts.
Auditorfs responsibilities for the audit of the financial ststements
We have been appointed as auditor under section 144 of the ChaTlties Act 2011 and report in accordance with
the Act and relevant regulations made OT having effect the￿under.
Our objectives ar& to obtain reasonable assuranc8 about whéther thè financial statÈment5 as a whole are free
from materi81 rnisslalement. whèther due to fraud or eiror. and to i$$uè an auditors. report that includès our
opinion. Reasonable assurance is a high level of assuran¢e but Is not a guarantee that an audrt condu¢ted in
accordance with ISAS IUKI will a￿ayS detect 8 material mi5s1alemenl when it exisls. Misstatements can arise
from fraud or error and are c4)nsidered material if, individually or in the aggregate. they could reasonably be
expected to influence the economic decisH)ns of users taken on the basis ol these ffinan¢ial slalements.
A further description ol our responsibilities is available on the Financial Reporting Council's websrte at.. https'.I
wivw.frc.oig.uklauditorsresponsibilities. This description fomis part ol our auditorfs report.
Extent to wh5ch the audlt was ¢on6ld*fftd ¢•p•bl¢ of d¢t¢¢ting IrT•gul•riti*¥. Including fraud
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above and on the Financial Reporting Counal's web511e, lo
detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control enwronmenl. and like￿ future
developments, induding in relation to the legal and regulatory framework applicable and how the entily is
complying wrth that framework. Based on this understanding, wè identify and assess the risks ol matèrial
rn1551alernenl of Ihe ffin8nual slalemenls. whethèr due to fraud 01 eTror, design and perform audit procedures
responsive lo those risks. and obtain audil evidence that Is sufficient 8nd appropriate to provide a basis for our
opinion. This include5 consideration of the risk of 8¢t5 by the enlrty that were contrary to applicable law5 and
regulations, including fraud.
In response to the risk ol irregularities and non-compliance with laws and regulations. including fraud, we
designed procedures which included..
Enquiry of management and those charged with govemance around actual and potential litsgation and
clairrs as well as aclual. suspected and alleged fiaud".
Reviewing minutes of meetings of thtsse ch8rgÈd wrth governano".
Assessing the extent of compliance wrth the laws and fegulalions considered to have a direct materi81
effect on the financial slalements or the operations of the company through enquiry and inspection,
Reviewing finanaal statement disclosures and testing to supporting documentation lo assess
Complian￿ with applicable laws and regulalions..
Perftsrming audit work over Ihe risk of management bias and override of controls. including testing of
ovmal entries and other adjustmenls for appropriateness, evaluating the business ralionale of
$19nificanl Iran$aclions outside the nomial COLTrrse ol businèss and reviewing accounting estimates for
Indic8lors of potential bias.

SISTERS OF ST JOSEPH OF THE APPARITION CIO
INDEPENDENT AUDITORS, REPORT (CONTINUED)
TO THE MEMBERS OF SISTERS OF ST JOSEPH OF THE APPARITION CIO
B¢Gause ol tha inherènt limitations of an audrt, there is a risk that we will not delecl all irragularilies, including
Ih¢se lèading to a matèrial misslatement in the financial statements or non•compliance with regulation. This
risk increases the more that compliancè with a law or regulation is removed from thè events and transactions
reflected in the financial 51alemenls, as we will be less likely to become aware of instsnces ol nonkncompliancè.
The risk of not detecting a material mi551alemenl resuhing from fraud is higher than for one resulting from error.
as fraud may involve collusion, forgery. intentional omissions. m15repre6enlalion6, or the override of intemal
control.
Us¢ of our r•port
This report is made solely to the charity's trustees. as a body, in accordance with section 144 01 the Charrties
Act 2011 and with iegulations made undei seclion 154 of that Act. Our audit work has been undertaken so that
we mighl slate lo the charity's Iruslees those mallers we are required to state to thèm in an auditorfs report and
for no other purpose. To the fvllesl extent permitted by law, we do not a¢cepl 01 assume responsibility to anyone
other than the charity and Ihe charity's Iruslees as a body. for our audit work, lor this report, or for the opinions
we havè lom)ed.
Jonoth•n Ward Isènlor Statutory Audltorl
for and on behall of Azets Audit Services
Statutory Auditor
Alpha House
4 Greek Street
Stockport
Cheshire
SK3 8AB
United Kingdom
Azèts Audit Services is eligible lor appointment as auditor of the charity by virtue of rts eligibility for appointment
of a company under section 1212 of the Ctympanies Ael 21)06
Dale..
Charity commlsslon Numbèr: 1188024
Company R•glstratlon Number.. CE020748
10-

SISTERS OF ST JOSEPH OF THE APPARITION CIO
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted Designated Restricted
fun(ts
funds
funds
Total
2024
Total
2023
Notss
enèrat•d funds
tomin
rÈsourc•s from
Donations and legacies
Trading activities
Investment income
33.733
soo
2,355,234
71.966
34,233
78,353
2,355.234 2.104,480
401,733
330,055
302,7SI
27,016
336.484 2,427,700
191,613
27.016
2.791.200 2,452,888
191.613
250.508
Other incorning resources
Totsl in¢omlng rèsourcès
336,484 2,619.313
27.016
2,982,813 2,703,396
Resources ex
nded
Costs of generntlng funds
Investment management costs
87,783
26.777
9,249
123,809
113,594
Net incoming resour¢e$ available
248.701 2,592.536
17.767
2.859,004 2,589.802
Charitable activities
Donalion5
Convent costs
405.788
602,221
337,880
S,308
743,668
620,4SO
470.102
584,044
12,921
Totsl charitsble expenditure
1.008,009
12,921
343,188
1,364,118
1,054.146
Trading activities
2,118.290
2,118.290 2.052,851
Total charitable and trnding expenditure
1.008.009 2.131,211
343,188
3,482,408 3,106,997
Govemance costs
31,745
18,138
49.883
30.710
Totsl resour¢e$ expendèd
1,127,537 2,176,126
352,437
3,656.100 3,251,301
N•t loutgoinglllncomlng
rèsources bofor• transfers
1791,0531
443.187
1325.4211 1673,2871 1547.9051
Gross transfers between funds
426,000
1465,0001
30.000
Net outgoing resources
1366,0531
111,8131 1295A211 1673,2871 1547.9051
Other rècognisèd galns and lossos
Revaluation ol tangible fixed assets and
investment properties
Net movement in investments
275,000
2.056,096
275.000
2,893,061 3,332.037
623.555
213.410
N•t mov•m•nt In funds
1,96S,043
611.742
182,0111 2.494,774 2,784,132
Fur￿ balances at 1 January 2024
29.612.021
.509,315 2.655,623 38.776,9S9 35,992,827
Fund balances at 31 December
2024
31.$77,084 7,121.057 2,573,612 41,271.733 38,776,959

SISTERS OF ST JOSEPH OF THE APPARITION CIO
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Flx•d
Tanglbl¢ w•etJ
Inv•slm•nts
12
13
1.397,220
33263,284
6.280.738
31.D52,731
39.660.004
37.313,489
Curr•Tht w••ts
Debtors
Cath •1 bank end in h*rKI
14
1.168.890
788.151
1.126,397
749,237
1,gS7,041
Cr•dltov•: •mount• f•lllng du• wHhln
on• y41r
1.875,634
15
1346I121
1412,1441
N•t GUn•rt4•8•ts
1.611,229
1.463,490
Tgtsl ￿#0￿ cuvrnnt Il*billtl•*
41.271.733
38,770,959
Incom• fvnd•
Get)•ral fun¢
R￿tr￿￿ed funds
Doslgnated fun¢Js
31Anm4
2M3M12
7.121.067
29,612.021
2.855,623
,509,31S
41,271.733
38,776.959
The *counts wore *pprov•d tyihe B¢wd on. 13 0£ a
$1stsr J A
SSsl¢r M M¢N•mara
Trn•t••
Ch•rlty R•gtstr•tlon No. 11ga028
Company R•ql•tr•tloTr CE020741
12-

SISTERS OF ST JOSEPH OF THE APPARITION CIO
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcl•s
Charlty Infomlallon
Sisters of St Joseph is an unineorporatÈd charity with registerèd charity number 118025. Its hèadquarters are
located 8t Conv&nt Lodge, Gran9è Road. Bowdèn. Allrincham. WA14 3EZ.
1.1 Basis of preparation
These accounts have been prepared in a¢¢ordance wrth FRS 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland. I'FRS 102.1. 'Accounting and Reporting by Charities the
Slatement of Recommended Praclice for Charities applying FRS 102, the Companies Act 20C6 and UK
Generalty Accepted Accounting Practice as it applies from 1 January 2015. The charty is a Public Bènefit
Ents'ty as defined by FRS 102.
The a¢¢ounts are prepared in sterling, which is the fundional currency of the charity- Monètsry #moun15 in
these financial Stslements are rounded lo the nearest £.
The finanrjal Statements have been prepared under the historical CLJSI convention, modified to include the
valualion of freehold properties and to indude investment properties and certain financial instruments al
fair value. The princjpal acLounting policAes adopled a￿ sel out bebw.
1.2 Going ¢on¢•rn
At the tirne of approwng the accounts. thè trustees have a reasonable expectation that the ¢h8rity hag
adequate resourcès lo continue in operational existènce for the foreseeable future. Thus the liuslees,
nlinue 10 8dopl the going concern basis of accounting in preparing the accounts.
1.3 Charitable fun
Unresliicled fund$ are available for use al the discretion of the Iruslees in furtharan¢e of their charitable
objectives unless the lunds have been designated for other purposes.
Restricted funds are subject lo sperAfic conditions by donors as lo how they may be used. The purposès and
uses of Ihe restricted fvnds are set out in the notes to the acLounts.
Designated funds are lunds which havè bèèn sat aside out of Un￿$tri¢ted fvnds by the trustee$ for ￿P￿￿1C
purposes.
1A Incoming resources
In¢omè 1$ recognisad whén the ¢h8rity is legally entitlèd to il after any performance conditions have been
met. the amounts can be mtsasu￿d rtrliably, and it is probable that income will be received.
Cash donations are recognised on receipl. Other donations are recognised once the charity has beèn
notified ol the donation, unless performance conditions require deferral of the amount. IncA)me tax
coverable in relation to donations received under Gift Aid or Deeds of Covenanl 15 recognised al the lim& of
the donation.
Legacias are recognised on racèipt or otherwisè if thè charity has been nolthed of an impending distribution,
the amount is known. and re¢eipl is expected. If the amount is not known, the legacy is Irealed as
conlin9&nt ass￿.
Turnover is MeasU￿d at the fair value of the consideration received or receivable and represents amounts
receivable for services Provided in the no￿al course of business, nel of discounts, VAT and other sales
related taxes.
13-

SISTERS OF ST JOSEPH OF THE APPARITION CIO
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Aeeountlng polici•s
(Cont[nu￿)
1.6 R•$ourw 9X￿nd*d
All expenditure is accounted for on an accruals basis and has been induded undei expense categoriès that
aggregat8 all costs for allocath)n 19 8¢tiwties. costs cannot be directly attributed to particular activities
they have been allocaled on a basis ¢onsislenl with the use of the resources.
Fundraising costs are those incurred in seeking voluntary contrib￿lonS and do not include the costs of
disserninating inforrnation in support ol Ihe charitable adivities. Support costs are those costs incurred
directly in support of expendilure on the object5 of the company. Govemance costs are those incurred in
connection with administraiion of th& company and compliance wAh conslilulional and statutory
requirèments.
Grants payable arè ¢hargèd in the yéar whèn the offèr is madè ex¢opl in those cases wherè the offer is
conditional. su¢h grants being recognised as expendiluie when the condrtions attaching are fulfilled. Granls
offered subject to I￿nd￿l0￿$ which have not been mel at the year end are noted as a commitment bul not
accrued as expenditure.
All resources expended are inclusive of irT8coverable VAT.
1.6 T•nglbl¢ fixod a$$ets and d•pr•¢latlon
Tangible fixed assets are initially measured at cost and subseqvently measured al cost or valuakn'on, nel of
depreryalion and any impairment losses.
Depreciation is recognised 50 a5 to write off the ¢osl or valuation of assets less their r¢$idual values over
their useful lives on the lollowing bases..
Freehold land is not depreciated
Freehold buildings
Plant and machinery
Motor vehiclas
O°h as the residual value is deemed thè fair value
20°h $lraighl line
20°A straight lin&
The gain or loss arising on the disposal of an asset is delermned as the differenc8 between the sale
proceeds and the carrying value of the asset and is recognised in nel incomellexpendiiui¢l for Ihe year.
1.7 Investments
Fixed a55el inve51men15 are initially measured at transaction price excjuding transaction Costs and are
subsequently measured al fair value at each reporting dale. Changes in lair value are recognised in nfyt
incomel{expenditure) for the year. Transaction cosls are expensed as incurred.
1.8 Imp•imiènt of fixèd a¥s¢ts
At each reporting end date, the charity reviews the carying amounls of its tangible and intangible assets lo
determine whether there is any indication that those assets have suffered an impoimenl loss. If any such
Indication exists, Ihè recoverable amounl of the a$sel is estimated in order lo determine the extent of the
impaiment loss lif any).
Recoverable amount is the higher of fair value less ¢osl$ to sell and value in use. In assessing value in use,
the e51irnaled future cash flow5 are discovnled lo their present valve using a pre-tax dI$￿unt rale that
reflects current market assessments of the time value of money and the risks specJfi¢ tr) Ihtr asset for which
the eslimales of future cash flows have not been adjusted.
If the recoverable amounl ol an asset is estimated to be less than its carying amount, the carying amount of
thè assel is reduced to its rècoverablé amount. An impaim)ent loss is recognised immediately in incomel
lexpenditurel for the year, unless the relevant asset is carried at a revalued amount, in which casè the
impaim¢nl loss 1$ Irealed a$ a rgvalualion decr¢?se.
14-

SISTERS OF ST JOSEPH OF THE APPARITION CIO
NOTES TO THE ACCOUNTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Aeeountlng pollel•s
IContinu•dl
Recognise¢Y impaiimenl losses are reversed rf, and only if. the reasons ftsr the impairnent loss have ¢eased
lo apply. Vvhere an impairmenl 1055 subsequenlty reverse5. the carrying amount of the asset is increased lo
the revised e51irnale of ils recoverable amount, bul so that the increased carrying amount does not exceed
the carying arnount that would have been determined had no impairment loss been recognised for the asset
in prior years. A reversal of an impairment loss is recognised immediatèly, unless the relevant assat is
carried in at a revalued amount, in which case Ihe reversal ol the impairmènt10$5 Is Irealed as a revalualion
In¢rease.
1.9 C*$h ond eash equfv*l•nts
Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short term liquld
inveslmenls wrth onginal maturities ol three months or less. and bank overdrafts. Bank overdrafts arè shown
wrthin borrowings in ¢urrent liabilities.
1.10 Financlal Instruments
The charrty has elected Its appty the provisions ol section 11 'B8sic FinanrAal Instruments, and Section 12
'Olher Finan￿al Instruments Issues, of FRS 102 to all of ils financial instruments.
FinancAal instruments are recognised in the chanty's balance sheet when the tharity becorne5 party to the
conlractual provisions ol the inslrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements. when
there is a legalty enfoice3ble ri9hl to sel off the rt¢ogni$ed arnounl$ and there is an inlenlion lo settle on
nel b8sis or lo ￿311St the asset and settle the liabilty $imuh8neou$ly.
Basic financial assets
Basic financAal asset5, which include debtor5 and cash at bank and in hand bal8n¢es. are initially measured
at transaction price including transaction costs and are subsequently carried 81 amortised cost using the
effective intèrest method unless th8 arrang8m8nt constitut&s a financing transaction. where the transa¢tion is
measured at the present value of the fijture reeeipts discounted al a market rale ol interest. Financial a$se15
¢18ssffjed 8$ rg¢9ivable wthln one year are not amorti$ed.
Basi¢ finon¢ial liabiliti•$
Bas￿ financial liabilities. induding creditors are inrtialty recognised al Iransactson prt¢e unles8 the
arrangement Constitutes a finanryng Iransaclion, where the debt instrvment is measured at the present value
of the future receipts di5o)unted at a market rate ol inlere5t. Financial liabilities classified as payable wrthin
one year are not amortised.
Trade credilors are obligation$ to pay for goods or servicEs that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are reco9nised initially al
transaction pri¢s and $tJb$equ&nlly moa$uro(l al amorlised cost using the effective interest method.
Derecognition of financial liabllbtles
Financial liabililw are derecognised when the charity'5 contractual obligations expire or are discharged or
cancelled.
1.11 Employ•• bènefits
The cost ol any unused holiday anlill8m&nt is recognised in ihe period in which the employee's semces are
reeeived.
Tem)ination benefits are rècognised immèdiately as an expense when the charity is demon5trabty ¢ommitted
lo teminale Ihe employment of an employee or lo provide lemination benefits.
15-

SISTERS OF ST JOSEPH OF THE APPARITION CIO
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
ICont5nuedl
1.12 Leases
Renta15 payable under operating lease5, including any lease incentive5 received, are charged lo income on
straight line basis over the lemis of the relevant lease.
Critical aeeount e$timat•s and judgement
In the appli¢ali¢n of the chaTily's accounting policies, thè IrustÈe$ are rèquirèd lo make judgements. estimates
and assumptions about the carrying arnounl of assets liabilrties that are nol readily apparènt from other
sources. The estirnales and assouated assumptions are based on historical experience and other factors that
are considered lo be relevant. Actual results may differ from these estimates.
The estimatès and underfying assumptions are rewewed on an ongoing basis. Revisions lo accounting
Èstimatès ale recognisèd in the period in which the estimatè is revised where the revision affects only that
peiiod. or in the period of the revision and fijlufe periods Whe￿ the revision affects both current and future
period5.
Valuatlon of fr98hold and leasghold buildings
The trusteès havè adopted the revaluation model in respect of both freehold and leasehold land and buildings
with Ihiid party valuations being obtained as required.
Further details are disclosed in note 12 of these financial statements.
Valuation of debtordu• o¥•r l y•ar
The Chaiity is owed the value of a property from 8 ¢tsnnected Irish charity,. this will be realised upon the sale
ol the asset Isubiect to exchange rale variances).
Further details are disclosed in note 14 of Ihese financtal stalements.
Donations and lega¢le$
Unrestricted Designated
funds
funds
Totsl
2024
Totsl
2023
rx)n8lions antl yifts
Leg8aes receivable
400
33,333
500
900
33,333
17.413
33,733
soo
34.233
18,353
16-

SISTERS OF ST JOSEPH OF THE APPARITION CIO
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Trading actSvltles
2024
2023
Nursing horne fees
2,355.234 2,104,480
Staff costs
Repairs 8nd Èquipment
Careport management fees
Water, power and rates
Consumables and amenities
Other Costs
1.586,124 1,479,412
133,853
137,572
64,836
74.718
111,614
155.774
148,057
142,177
73,805
63,198
Net income Ilossl from trading actiwly
236.945
51.629
Inv8Stm•nt Sncom8
Unrestricted Designated Restricted
funds
funds
funds
Totsl
2024
Total
2023
Rental in¢ome
Dividends
Investmenl interest
24,804
135.449
142.498
24.804
193,442
183,487
24.668
176.870
128.517
43,172
28,794
14,821
12,195
302,751
71,966
27,016
401,733
330,055
Othor Incomlng r•soure•$
2024
2023
Other incorne
Sistèrs, p¥nsion$
1,035
190.578
657
249.851
191,613
250,508
17

SISTERS OF ST JOSEPH OF THE APPARITION CIO
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Total mourc•s èxp•nd•d
2024
2023
Co¥ts of g•n•ratSng funds
Investment management costs
123,809
113,594
Charflabl• a¢tlvltl•s
Donations from unre$lricted funds
Doftalion8 from restrlcte(I funds
405.788
337.880
379,289
90,813
Total
743.668
470,102
nve
Unrestricted convent ¢0$18
Restricted convgnl costs
602.221
18,229
565, 744
18,300
Total
820.450
584,044
Tr
Care home c081s from desSgnaled funds
2.118.290
2,052,851
3A82.408
3,106,997
Goveman¢• costs
2024
2023
A¢￿Untan¢Y
Legal and professional
(Xher cogt8
24,260
16,036
9.597
22.756
6.406
1,548
49.883
30,710
Goveman¢e costs Indudes audit fees paid lo the auditors of £19,200 {2023.' £18,000).
Tru*t•M'
None of the INslee6' lor any ￿lSOn8 Connected wlth Iheml 18ceive(l any remuneration or expens0$ during
the year.
18-

SISTERS OF ST JOSEPH OF THE APPARITION CIO
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10 Employe••
Number of •rnploy•
The average fflonlhly number tsf employees during the year was..
2024
Number
2023
Number
76
74
Employm•nt ¢o$ts
2024
2023
Wages and salari•s
SocKal security costs
Other pènsion ￿81$
1,713,S63
147,329
32.390
1.556.455
131.849
29,387
1,893.282
1,717.691
The number of employees whose annual remuneralion was £60,000 or more
were..
2024
Number
2023
Numb8r
£80,OOCk£69,999
11 Taxatlon
As th• order Is a registered ¢harrty, no prowsion is madg fgf gither ￿Thent gr deferred lax81ion.
19-

SISTERS OF ST JOSEPH OF THE APPARITION CIO
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12 Tanglble fixed assets
Land and Plant and
buildings machinery
Motor
v•hieles
Total
Cost
At 1 January 2024
Additions
Revaluation
6.240,000
161,961
31.461
26.925
6,428,886
31,461
120,000
120,000
At 31 Dgc•mb•r 2024
6,360.000
193.422
26.925
6,580,347
Depreclatlon
Al 1 January 2024
Charge for the year
141,419
14,783
26,729
196
168.148
14,979
At 31 December 2024
15fj,202
26.92S
183,127
N•t book value
At 31 December 2024
6,360.000
37,220
6.397,220
Al 31 December 2023
6,240,000
20,542
6,260.738
Fieehold land and buildings wer$ revalued at market value in 2022 by Trafford Surveyors Limited. Charte￿d
sU￿eY￿rS. Leasehold land and buildings were ievalued at market valuè in 2024 by Trafford Surveyors
Limited. Chartered Surveyors.
The historical cosl of land and building5 15 £2.199.085.
13 Flx•d ass•t Invèstmènts
2024
2023
Li¥ted inv*$tn*nts
Market value at 1 January 2024
Gains and losses on investments
Stockbroker fees
Sale of shares
Diwdends
Interest
Funds fO￿alded lo sistèrs
Increase in market value and movements ￿lating lo additions
and disposals
30.007,731
92,321
1121,6091
13SO,0001
193,441
140.660
11,050.0001
27,195,447
5,549
(109.8881
176,871
125,284
1712,020}
3.1SO,739
3,326,488
Market value at 31 December 2023
32.063.283
30,007,731
Invèsth)ent property
Markel value at 1 January 2024
Gain on r&valu81ion of investment propertiès
1.045,lJOO
1SS,000
1.045,000
Market value at 31 December 2023
1.200,000
1.045,000
Total fix•d assèt Inv•slm•nts
33,263,283
31,052,731
The Trustee5 recognise cash moverTienls lor additions and disposals within the valuation movement.
-20-

SISTERS OF ST JOSEPH OF THE APPARITION CIO
NOTES TO THE ACCOUNTS ICONTINUED>
FOR THE YEAR ENDED 31 DECEMBER 2024
14 Debtor4
2024
2023
Trade debtors
Other debtors
25,762
1,143.128
29,756
1,096,641
1,168.890
1,126.397
Amounts falling due after more than one year and induded in the debtors
above are..
2024
2023
Other dèbtors due over 1 year
991,366
991,3e6
Included in other debtors is a balan¢e of £991.36612023'. £991,366) due from Sligo Convent. an Irish chanly
linked through the Catholic Church.
15 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Sales ledger credit bal8nces
Other creditors
Ac¢ruals
Deferred incorne
47.331
37.400
57.853
183.960
19,268
155,939
46,075
69.797
135,744
4,589
345,812
412.144
21

SISTERS OF ST JOSEPH OF THE APPARITION CIO
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16 Analysis ot net assets befvMen funds
General fund¥ Designated
funds
Rostdctèd
funds
Total
Fund balancès at 31 December 2024 are
represented by".
Tangible fixed assets
Investments
Current a5sels
Ciedilors. amounts falling due within one year
6,240,000
23,999,512
1,401.843
164.2911
37,220
6,886,032
477.026
1279.2211
120,000
2.377,740
78,172
{2,300)
6,397,220
33.263.284
1.957,041
1345,8121
31,577,064
7,121,057
2.573,612
41,271,733
G*n*ral Fund
The general fund is a free fund ol the Trust.. it Is not lièd as are the other lunds. which are usèd for a
particular defined purpose.
The general fund represents the activtties of the convents within one community and includes Ihe"Province'
account which is used lo accumulate Ihe funds of each convent at the end of the financial year.
Gèneral funds indudès a property revaluation reserve of £4,110,915 {2023'. £3.990,9151 and an invèstment
propety revaluation resèrve of £270.00012023'. £115,000).
Designated Fund
The designated fund relates to a nursing home. Their funds are nol paid Into the"Provincè account at the
end of the financial year but are used to fund operations in the coming year. Monies sèt aside for Ihe Sisters
on their retirement are also included in this fund. The designated fund also includes the pension fund.
R•strlet•d Fund
The restncted fund repre￿nIS monies set up in trust for Ihé purpose of PfOVKling nursing care and
aSS151an¢e for the benefit of elderly people in th8 Unitèd Kingdom.
17 Contlng•nt Il•bllltios
Al 31 De￿rnber 2024 there were no commitment5 to expendrture, and no Provision was dèèmed necessary.
18 Commitments under operating leases
Al 31 De￿mber 2024 the company had annual commitments under operaling lease5 88 follows..
2024
2023
Expiry dale..
Within one year
Between two and five years
In over five yeafs
37,308
127.154
59.753
31.638
99,744
40,780
224.215
172,162
22-

SISTERS OF ST JOSEPH OF THE APPARITION CIO
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
19 R•lat•d parti
There are no related paty Iransactlons.
-23-