Charity registyaiion number 1198702 Charity of the Sisters of Christ CIO Report and Accounts 31 December 2023
Charity of the Sisters of Christ CIO Report 8nd accounts Contents Leoal and administr#tii'e infornjarion TrUSs, report Auditijrs, r¢p)rt Statement of financial aeiiviiies 10 BalaDc£ sl*£t Statcmcni of cash flows NotLS ro thL accounts 13
Ch¥rity vf the Sisters vfchri54 CIO ond •dministr¥tive infornthtion Trllstees Sisier M41ry F.li7akih M#genity - retired March ?0•1 Sister Ramai.el0 lknoii'n Si Emerenliennel Sister Joyce Bone Sister Ita Cnnlan luntil Fe7)tuary th231 Sisler Angèle Lx JolleL Sisier Maroaret moniCk Sisier Roo¢lin¢ RahenimathanLW- 4)wJinied January ?0?.3 PrtsTrincial Superior Sisier Efflerentienne Rattloravelo Burbar Sisierjoyee Bi)ne Principal olee orlan(L Mayfield Road London SW19 3NF Charity number 1198702 Auditors Borucki & Co 4? Radnar R()ad Harrow (Idle5¢A HAI IRZ InvestTnEnt Ini"esiec I.ealth and IniesiTrtni lATniied ? GteshLUn Stteei London ECIV 7Q Bre.] Dolphin l? Smiihfield Sireei ECIA 9L4 Banker5 Royal Bank of SL-thlan(I pl l Hardman BjIelard fanchesler Ml IAQ Solicitors Poihe£ary W-iiham W¢ld 84 E¢¢le.%Lon Squa London SM."1 IPX Sione Kino Baieman House 8?_%8 Hills Road Cambridge CB2 ILQ
Charity of the Sisters of Christ CIO ThteeS report Thc Si8tir8 of Christ ChariLqble IncorporatL"d Organisaiion ICIOI no 119870? becamL actil'c on 1° January ?023. Funds at the bank and all othti a55eis 'tt [ranSfeed on 31" Dece]nber 2022 from the Sisters of Christ, regisiered Charii), number 294746. Hol'ing rnet with unexpected Problems in the auiumn, the irustees appreciatcd ihc sigllificani hilp gii'cn by our rclaiionship rnanager froTn ihe Rol'al Bank. of Scotland and Stonc King SoliLiiors. During the li1 f¢. months of .0.3. all are OrminiST[all0A 't[¢ monitored Closely ro Confirm that everyihing was running as planned. li was a difficuli year with the unexpeCd death of a inJsiee. Sr Tia Conlan. In February. She had served for many years as a m]ste£ tor the Chariry Sisters ol Christ and is still i'ery fftuch rnissed in the life and mission of the sisters in Et]¥ldnd. At the b¢uinninu of March, new. ttUStees weT¢ app)inl¢d 41nd others confirtned in their rol¥ as tnjstees. The Superior General the tru5tee5 of the Charity. Afier their appoinimeni, the role and reswnsibilities ol a irustee are discussed and explained in dethil. The narnes olihe Irusiees ii,ho seri'ed during ihe )iear are sei out &5 part of Ihe referen¢e and administyaiive deioi15 page of this annual retK)rt and accounts. Brief biographical details Oli ¢dLh ttustee dre oiv¢n below. Sister Ratnoravelo- rior General Si Rarnoravelo (known a5 Sr E¢enti¢e LD rehuion) wa5 re-elected at the General Chapter of the congregation in ilugust 2022. Previously, she ivas on ihe General Council, h&s been the Pro¥incial Superior of Madagascar and hds worked in the form<lticin of yijuno 5iSt¢rs. Hei wid¢ experience <i1s(i includes t¢41LhiniF in schools dnd leLturin¥ Phi108nphy in a 8Lmin2ry. Sister Jo ce Ilone Sr Joyce is General Bursat of the congreg10 and is also resp)n5ible for the financial adn]inistration of the communiiies in b.ngland. She w&s eleuied io the conggallon s General Council in August 2022 after fulfilling this rolc oncc bcforc in ?(KI9-201i. In the p&%t %hc has workcd as a Icachcr in middlc and sccondary schools. scrNcd as a school goveinor and has i'aried pasioial expetience. Sister Guenolee Le JolleL Sister Mle Angele L£ Jollec (known as Si51er Guenoleel is ai preseni the Delegate of the Sllpeiior General for the noirthetn patl of Ihe European Deleuation 'hICh includes Enuland. Her experience includes tlg provincial superior of Europe and pMvin¢l councillor. For a long lime. she was restK)nsible for the formalion of ne sisiers alld has varied pasioral experienLe with voung TpIt. whiLh incluiJe5 restM)ll5ibililies at dioc£5an level. Sister Ma enis Sister May w'as the PruYinLidl BuT5ar in Englilnd w'ith oi"erall re5pDn5ibility fur Ihe findnLe5 of the Lharity for over twenty Yei[s. .4s 't11 admini5trdti%"e experienLe. Sister Mdy hds had i aried PdStural inuli'eTheiit. served the Lungregatiun a5 proTrinLial Superior dnd d rnembeT of Ihe p11 inLidl LLiunLiI. She retireij d5 d trustee dt the beginning of MarLh 2023 dfter Thany uf faithful serviLe. %i8icr Mar arLI McC.ormick Sisicr MLugarci (CJrettal has varied expericncc in thL" ficld of cducaiion slalIsing in Religious Educaiion. She iioht in a Patish Primary School for ien years before beC0n]in Head teacher of an Indepeiideiit Pi'irny and S¢condary school. She moved to London 'here She served as a mernberof the English Proi'incial Coun¥il aiid she 'a% eTnployed by the Dioce Df We%iminster as Advi%er in Religioug FAlucation t(Tr Primary School%. She trnferred to the diace%e of Southwark 'here she also became an OFSTED iiispe£tor Sla118]llg in the a%se8sment of Religiou% Education in many Primary schools. Now reiired: She participates in the pastoral actiN'ities uf hei IuLdl parish dnd with vui Associates. Sister Ro eline RtheTri[na1Soa Sr Rogeline arrived in France in ?01 ? a(r a forniaiion in financial administraiion in Madagascar. Her forniaiion continued in the Unil'ersity of Lyon w'ith studies in Canon concerning Religious Life and Civil Law. From 2017 uniil 2020, She w&$ respx)nsible loi a Spitiiual Lenire beli)n(Tin(T li) Ihe Congregaiion. At present. she woiks alongside the bllrsar of the deleoaiion Europe and M'ith the General Bursar of the Congregation in Pari5. Slie was named as a trustee at the beginnints of March 2023.
Charity of the Sisters of Christ CIO ThteeS report Thc tru8tiL% ari ultimatLly re%pot)%iblL for thL polieiLS, acijvities and assLiS of the chajiry. ThLy meLi &s required to ieN'iew development5 ieuatding the chatiry or its aciii"ities and fftake any itnportant decisions. CO[nUniCatIon betiveen trUse$ coniinues dunno the year. Ivhell ncccssary, the tru%iccs scck" advicL and sUPrt frotn ihe charity s profcs5ional adviscrs includin15 invcsiimcnt anagers. soliciioTS. and accountants. The day-io-dav managemeni of Lhe chariiy'5 dctii'ities. and the iThpleTnentaiion of policies. is delegated io the approprithe TrusLee or Tnember of the congreEdtion.After the renewal of the Mem[Ship of the trustees. all the 1]it1eS that weie in plac¢ for Chariiy 294746 were considered, along with the list olpossible policies gii'en by the Charit). Commission. li was agreed io svdrt a pmcess of revision and introduction of other policies that We thoughi necessary. PRINCIPAL AIMS AND OB The dccvuntS 4Lccumpdni'ing this rewn are the accounts of Ihe CIO wilh a5seis priimarily for assisting the religious and other charitable works of the sisters atjd i)thers. A secondary implicit obJectiNe is to look after the well-being ot the sisters liN'ing in England. The ministries of the si5ter5 of the congregation Inefit nutnerou5 rnetnber5 of the general public: both here and throughvut the w'oild. The 51Sters tty to k alonu5ide others and ork Vlith thern '"in all that pi'ornotes the true
aninu ijf life and the valu# of th¢ hutnan person. in particular in the field5 of education, pastoral rninistiy, health
Cale dnd 5LKial w(Trrks. Icunsliiutiuns I I I The rnajor asset of the chariry is the sisters and a principal aaii'iry of the trust is to provide for their welf and enable them to work toward5 fu]filling its obje£tiYes. TRUSTF.F.S' RFSPONSIBII,ITIFS WITH RF.GARD TO THF. ACCOUNTS IlndLr chariry Ill., thL tn]%tL"L% arL fi%wn_%it)IL for prLparing thL TrnsiiLS Annual RepTrrt and ihc financial statLlliints toi. cach fInanci year, w'hich thow a trnL and fr i-lL1. of itk" situation of thL C.haJiry. In preparing those accounis, the m]stees are required io: seleLt suitable acLounting wlicies and ihen apply them consistently. ak-e judgetnent5 and esurnaies thai are reasonable and prudent. qtatc whcthcr thc rcLÉ)mmindaiiDn.% nf thi .%thiLmeni of RiLommcnd£d PraLliCC havc en fi)Ilnwcd, quhjcci 10 any maiLrial dLparturL% dI]rd and txplaincd in thc financi&l staicments. sthte whether ihe staiemenLS Lomply wilh ihe (rust dttd. subjeLI io at)y Marial departures disclosed and explained In the finanLial $thrne. prepare finanLial 51alefflenls the uoiDg collcem basis unle55 11 is iTrapproptiale lo ptesurne Ihe charily will continue i15 activilies. The Iru51ee5 ate requited lo act in aC[daCe y'ith the ttusi de£d or consliiulion of the charily.. wiihin Ihe (rd]newurk of Itusl la.. They are i¢spvnsible foi keepinLF ? pro record5, surriLi¥nl lo di5LIc)5e al any lirne, with re<LSUlldble LUrdLY. the findnLial p05ili(Trn uf the Lharity di th4LL tiTne: dnd tu endble the tru5te£s tu ensure that, where any statements of aLLounts are prepared by (hem under section13? (l) of the Chatities Aci 2011, thLise staiements of aLLounis Lomply ii'iih Ihe requirements of retsulations under ihai proision. They hae general responsibility for taking SULh $pS as are wsonably open io ihem io safeguard the assets of ihe chariiy and io prevent and deteci Iraud and oiher irregulariiies. RESERVES POLICY AND RESERVES posrfIoN It is <i faLt thdt the sisters aTe lunuer in reLeipl of 54Llarie5. The Chatity now Tllust rely on the inLome fTom pensions and inl'estments to provide funds lor the support of ihe SiS*TS and their charitable works. The trustees aim to retain sullicient resm'es to do this. INVESTMENT POLIC'Y Oui Inv¢strn¥nl Ptirtftilios are rnandg¢d by InV¢s1 w¥illh Ini'¢sitnenl Litnil¥d- woikints 'lIh Rdihbvnvs- and Biewin Dolphin who rekx)rt io ihe Ttusiees ei'ery ihtee mi)nih%. These funds are mana(Ted in a¢¢oidance with wriiien ouidelines seiiing out ihe relitsiouy and eihi¢al prin¢iples of the Ci)ngregthtion. The thrget sei for ihe fund managers is to deliver an agreed rern ol l)oth income and capithl growth wilh no more than a moderate level or risk.
Charity of the Sisters of Christ CIO ThteeS report RISK ASSESSMENT and SAFEGU.4RDtNG The $[t¢S have asse8%ed the major risk's which the Charity is in panicular ihose relaied to the operarions and finances ot the Tru51 and are satisfied thai sysien]s are in place to miiigate our exposure to major risks. The assets of the Chariry are tnanagtd by different ini'estment n]anagers as an effort 10 divei'sify and itigate financial risk. Conttqct tween m]stees coniinued by mail and telephone. when necessary. With the help ot Mentor Health and Satety Suiff and other professiotlS new policies have been dra up foi. risks in the cotnfflunity house in Sittingbourne i.e. Fire. trip hazards. handting... Thc L8tahli8hmtrtt ot thL RLligiou% Life 8afLguardino .SLYVILC (RLS%) 2nd its ciFworking group thL fith(Trlic qafiguarding 8tandardq AgLney IC.8%A) compliiLd carly in ThL congrLgaiion has %ignLd cantracts wih both organisations in ordLY to havL acccss to thcir adi'icL and Sllp)rt in all matters Jrlating to safegllarding. RLSS pivvid¢s trainints Las¢woTk mandgetnent. SUPWrt an(1 advice on pvliLies and DisLlosur¥ Batting ServiLe IDBSI LheLks'. CSSA pioviiqes a moniiOTing iole and will ¢ondua audiis to enable Congegaiions to ensure best policies and praLtiLe regarding saf¢ouarding. Religiou5 Life Safenuatdinu Ser%"ice offers trainin to trustees. Those who have already followed their short couises found theffl u5¢ful and infotrnatii"e. Thc Safcguarding policy of Chariiy 294746 is in thc procc5s of being updaicd. PLTI.IC BF.NEFIT The Trusiees have ¢onsulied the guidanie Tnade available by the Chariiy Commission for-England and Wales on Public Benefii requiremeni of the Chariiies .Qci 2014 Thc Trnsiecs are confidcni ihai thcv hai'c complicd with thcir duly under scciion 4 Df thc Charitic% Act 2014 in that thLy havL had duL fLgard 10 public I"AcrI1 guidaneL puhlishLd by th£ c.ommission. In (he lurtheranLe ol. (he irusts- chanb]e purposes for the publiL benefii the iruS$ give details o(their acliviiies in ihe following paragraphs. ACTIVITIES The aLlivities of the Lharity include LaTin(F for membeTS of the congregation and i"aried pastoral work. Each of these is considered below. l.Ike many religious Longregations in F.ngland. the age profile of the members olthe conggatiOn is increasing as exislinu tbe[S glow older. On 3 1st DeL£be[ 20?3. Ihe aveta(pe <iue ol Ihe sisleis in COllUDunily in Enuland was 81.5 yC<WS and ih¢ ag¢ W¢lS 85 y¢iWS. CARING FOR MEMBERS OF THE CONGREGATION The connre(Tation hL15 an obh(Tation. LK)th rnorai and lenai, 10 provide care for its fftembers. none of whorn have resource5 of their own and all of whom have dei'oted all aduli lii."es lo educalion, Ihe sick: Ihe elderly, Ihe poor and tnat(sinalised ID society. The sisters were provided for in theit diffeienl cOllnu111e5 lo enable Ihetn lo conlinut Iheii paslijral wcirk in iheir Ial sellinu The elderly and siLk sislers M'eie Lared foi in t)ne of vui" cu]ntnunilies. Lay Slaff ar¢ ¢rnploy¢LI iv hclp Ihis LotDrnunily lind at¢ paid in keepints '11h ihe reLOtnrnendalion of the Churches on the Livino Watse. The love and care of the staff is very ei"ideni and much appreciated by the sisters. Over the next decade, the Irus*es eA]xci that ihis needs io pn)vide care 111 coniinue. PASTORAI. WORK The following are examples of Ihe varie<l pasiordl work widenaken by the sisr5 according to their possibilities and the need% in their parishes.. Befriending wlneiable peisons, and helpi parishionets develop iheir spitiiual lives. Working with other5 for the homeless, asVIu seekers and tefuuees. TedLhing English to tKuple of uther141nguatses, especially WOTnen who need English.
Charity of the Sisters of Christ CIO
ThteeS report
collaratIng with aciivitiLS organiscd for pIc who lii'e Véith dLm£niia and ihcir carers.
B¢ing a tvam m¢mbei off¢rints spiritual tsuidanc¢ dutints we
All thL a%SLL% Ot RiOistLfid C.hariiy 294746 "irL trntLY to ihL C.harithbli ]ncarrtLd ()roani8atian I IyX7(IV an 3 I ' tkLLmk"r Trirp? Thi In]stiLA DI"?94()47 and 119871)? 'LfL thL 8amL In Lnahlc ci)niinuily at this iimL l)t changL. ThL appliLatii)n tor plannino [M]lAS7()n f()r t. land In fprinohill rLtud and. as yLt. ()llr agLni has not OlVLn advicL on ihL ws%ibilitii% OPLn to u%. As suggcstLd, thL SlStLrs followLd thL on-going formation Trork organised by thL DL"Icgation Euro fol. a de£penin8 of the content of the General Chapter in ?01) Pormaiion of the SLee8 and other Sisters swted with a numtrer of sisters following the safeguarding fnrrnaiion organi8cd by RLSS. Onc.%istcr traincd (with RLSSI 10 be rcsponsiblc for DBS (DI105re and Barring SeTh'icc.) Thc sisters alway% try to rcspond Lo e%'ents and siiuaiion5 M,hcrc Lhcy can continuc contact and support of othero. The sudden death vf Sr Ita Conlan in February ill5PITed Thany people nei¥hbours, parish TneTnbers. priests, (Trld friends from the PdSt- to aid ilnd suppurt our two Lurninunities buth prdLtILdlly dnd by their prayers. Although li was a difficul[ iirne, there M-as a sense of joy and thanksl1ng for all that Sr Ita had been (01 other5 in hei life of Service in Enland, in Catneioun and her lime as Su[[10r General of the conu[e(Talion. Ii was a rnotneni. when the 5151ers M'eie rnade aware of the p05iiive ifftpacl Ihe life, wilntt55, and work vf one sist¢[ Lan have on uthers. As pldnn¢d. th¥ fiisl annual -G¥l Too¢ih¢r vf ihe Ass(Kial¥s afier C.OVID iiiok plaL¢ in Llindon. The postulani lii.ints with the London Lommunity sidrted her noi"itiate 1° January 2023. Pastoral aLtivities. in person and online. coniinued aLLording to wssibililies. The neLessary Safe(Tuardino Lhanges protKiyed by the ChurLh were made. Ln Ntsvember. a sisiei from Mattsgawthr Jrriv¢d in London IL) improve her Enolish. She enrolled in an English S¢hool near the ¢ommuniry. u"ruRL PLANS The Trusiees dntlLipate that the dciii"ities of the charity will not siunificalltly chdnoe. More did support will be Deeded by the cotThtnunities in the fun]re, e5CiallY in adtnillistraiii'e tasks. 11 is the iniention of the trustees to continue to meet the followintw objectives= C"in for mernbers ol the con(Tre alion Continue 10 care for the sisler5 aDd enable thern io carry oui theii varied pastoJ31 work and rninistsy for as long as possible. Ensure all Ihe sick and elderly members of the Congrewion r11'e the high lei'el of catt they require so as io provide them with a qualiiy of life which they should rightly expecL Re-evaluate the financial proi'isiot] nece%sary for this ei'ery year. Pastoral Work Enabl¢ all of ih¥ Lontsr¥tsaiitsn Iv ¢vn(Iu¢i rneaninoful pasioral work within the ¢tsmmuniry accllrdints 10 iheir peN)nal abilities and needs of Itul area. EnL()ufdue M'ork wilh and alun(r5ide Ihu5e in need". the lunely, sick: the w.inali5ed, elL. Be a support and aid io I{a] cle1> and other Chtislian churches.
Charity of the Sisters of Christ CIO ThteeS report SPF.CIFIC PI.ANS FOR 2024 Contit)llL wlth thL planning wmission application for the sale of land in East Cowcs
Et]courage Lach Si%iLr to tollow. appropriaiL Satiguarding forniation through RLSS. RLwfiiL a nUm1"r of lIcIti and pr(drLs tor thL cIlty. RLvJialisL thL groups of AssociatL"S. Colltinue ihe fonmaiion of the novicc. Support Sr Florine in hcr English swdics. Try 10 bring l'ounger sistirs from abroad io hclp thc asing sisters achici'e thcir rnission. GOVF.RNANCE STRUCTURE AND MANAGF.MF.NT The Cungregation uf the Sisters of Chtisi is an iniernaiiunal Religious Congreg4LllUll. FiTrunded in 1976 fr(Im the union of seven existing congregations. It has a hisiory daiing back" to 1625. The Sisr$ of Christ are gOerned by their own Con5titutlOns and the conununities are dii'ided into a number of Delegations and a Pi'ovince. The Generale is in France. In terms r)f Canon IAiv. the congTegatlOTI IS guve[[ al an intrThaiional level by a Superior General General Council in Paris. They are elected ever! six years ai a Generdl Chapier meeting (meeting o( delegaies of all Ihe delegations and proYinc£ of the Congre8ationl. During ?018 the congtegaiion was restructured: and Eui'ope beLdill# (i Del#gativn. D¢Lisions ai¢ T¢iiLh¢d rfit th¢ appTh)ptidte l¢i'el vf adtninistration. i]1 dLLoiditnLe wilh the Cons1itution.% of the congrcgation. The ihangc in sin]ciure 'a5 cxpcrirncnial and was revicwcd at ihc Gcncral Chapter of the Collgretsation in 202? whiih deLided Lts COT)iinue the experimenL until the next General Chapter in •0?8. The%c changLS in strnctllrc haN'L no impact on thL organisaiion and wo1& of the Charitable Incojporatcd Organisation. In of Civil Law, thc charity is goi'crncd bv a conslltuiion acccptcd by thc Charity Commission when li received its registrdtion on ??thJ ApTiI ?9 Charitable InLorw)raied Organisation No 1198720. EMPLOYEES, $SOCIAT&s The TTUStec5 wish to rccord thcir recognition of thc professionalism and COmTnilmcnt of all their staff and those .ho collaborate with the sisiers. The life of the Assi1aleS M'IM) liie the same eharism as the SisteL in thell. daily life. couullues 10 be an inspifdtion and suppon io the sisiers. THE CHARITY ASSETS ALquisilion5 and disposals of fixed as5e15 durinu the y&it are recorded in ihe nole5 to the accounls. Signed on behdlf vf the Trustees. Trusiee Approved by ihe trnstees on 1.5 (kt(thI 24
Charity of ihe Sisters of Chri51 CIO Independent Auditor's Rewrt Independent auditors, report to the Trustees. of the Charitv of the Sisters of Christ We have audited Ihe financial suiemenLS ol. the Chariiy of the Sisters of Chrisi for (he year ended 31 ])ecernber 202.1 which comprise the S(aLemen( ol. Financial Actlvllies. Ihe Balance Sheei. Stsiement of Cash flows and ihe relaied nO5.The financial reporiing rramework" Ihai has been applied in their preparaiion is applicable law and Uniied Kingdom Accouniing Sthndards, Including Financial Reportino Standard 102 'The Financial Reportints sndard applicable in Ihe UK and Republic ol Ireland- (Uniied Kingdom Generally Accepted Accountino Practieel.. In our opinion the linanLi#l StaMents.. gil'c a iriic and fair viciv i>f sLQ of the chartty's affairs ai_Il tkcernr 2021 and of iL% incnmics and cxpcnditurc for thc year then ended; have been properly piepared in accordance UK Generally Accepted Accountints Practice.. and have been properly prepared in accordance wilh the requileitnt5 of the Chariiie5 .4ct ?01 l. Basls for oplnion We conducied our audii in accordaTKe with Inmaiional Siandards on Audi(ing (UK} IISAS (UKII and applicable law. Our responsibilities under those standards a further deribed in the Audi¢or s responsibilities for the audii of ihe accoun(s section of our repori. We are Independent ol- the charily in accordance Miih Ihe ethical requirements that are releiiani io our audii of ihe accoun(8 in Ihe UK. Includints the FRC'S F.Ihical Standard. and we hai'e fulfilled our oiher eihical responsibililies in accordance wilh ihese requirements. We believe that the audii eTridence we have obtained is sutricieni and appropriate to prO]de a basis for our opinion. Conclusions relating to going concern In audiling ihe IinanLial stameIs. we have LonLILMkd thai Irusiees use of the going concern basis of accouniing in ihe preparation ol. the finanLial staiemenis is appropriate. Based on the work we have perfornrf ive hai'e noi ideniified any Meal uncenainiies re1Ing io events or conditions that. Individually or colleLtii'ely. may Lasi signifitant doubl on ihe Lhariiy s abiliiy io coniinue as a going concern for a peri(1 of ai leasi 12 monihs from when the ljnancial Slents are authorised for issue. Our responsibilities and the responsibilities of Irusiees wilh respeLI 10 going LollL¢rn are described in the relevani seciions or this report. Other inforniatlon The irusiees are responsible for (he other inf0mtion. The other inf0mlion comprises the inforniaiion included in the report and acLounis oiher than ihe accounts and our audiior"s port thereon. Our opinion on the acLounis does noi coi.er ihe other Inforniation and we do noi express anv lorni olassuranLY LluSIon ihereon. In conneLtion with our audit of the aLLounts. our responsibility is to read ihe oiher infom)ation and, in doing sts, Lonsider whether the other infurmativn is Tndt¢ril1lY inLon5i5tent with the ut5 or uur knowledge ubtdined in the audit tsr otherwise appears 10 be milterially misstated. If we identify SULh Tnaterial incon5l5lenLie5 or dppdrenl material missts(ements. 'e dre required tv determine whether there a Tnaterial mi55tateTnent in the acioun15 or a Tnaierial mi5StaieTnent of Ihe other information. If, based the work we have performed, we conilude thai there 1% a matrrial mls5Lqtrnnt of this other ii)fornutioi). we are required t(Tr report that fact. We have nothit]8 t(Tr report in this regard. Matters on wbicb we are required to report bTr" exceptio We hLive noihinff to rep)n ill respect of the follow'in tnaiteis Ththete the Charitie5 Act 2011 requires us to report to you if. in our opinion'.- Ihe infonnation given in the Trustees. Annual Rewrt is inconsisienl in any matrrial re.spec¢ with the financial statemenis; or sufficienr accouniing ordS have noi been kepi; or the financial statements are not in agre£nt with the accouniing records and reiuTll5: or ¢ hai'e noi receii'¢d all the information and explanaiions we reqllire for our audit. Resoonsibilities oclrustees As cxplaincd morc fully in thL Tn]%iCLS' Rc%p)nsibililLLS 8iatcnThI oui on pagc _3. thc Trusiecs arc rc8p()n%ihlc fnr Ihc prtparatinn of financiJl siaiemenis which give a in]e and fair i'iew. and for yuch iniernal ¢onirol as the in]siees de(erniine is neCeSsY io enable the preparation of accounis thai ale fre¢ from matetial misstaiemeni, M'heiher due ii) fraud 01 etroi. In prcparing the account8. the tsuqiec% arc rcsp()n%ihle for a5s%ino the chariry'A ahility to coniinuc as a going cnnccii), di%cl(i£ing, as appli¢ahle, matters relaied 10 (Tiling concern and usin(T tsoing ¢on¢ern b&sis of ac¢ouniino unless the tsusiees eithei. iniend io liquidaie the Charity 01 w Cew operntions, or have no ieab"sti¢ alrnalI1.¢ but tts do so.
Charity of ihe Sisters of Chri51 CIO Independent Auditor's Rert Auditor's responsibilities Cor the audit ofthe accounts Our objectiN'ts are to obtain reasonable assurance about 'hether the accollnis as a hole are free frotn material misstatement. whether dlle to traud or error, aDd to issue an auditor's rep)rt includes our opinion. Reasonable assurance is a hi] lei'el of assurance, bui i% not a guarantLL that an audit condllctL"d in accordanci 7th ISAS IUKI .11[ alayS dcicct a maicria] n]188tate.nt ,hcn it LXi.%t8. Mi8%tatLtnLnr_% can ariqL tri)m traud É)r irr()r and arL considLfLd maicrial if. indii'idllally or in thL aggrcLTraiL, thLy could iia8onahly bL CXPCCILd ti) intliiLncL thL LC(Trn()miL diCl8lOrts Dl"USLY% iakn"n thL hasis of ihcsL acc()unLS. Irregulariiies. iniluJino Craud. are inytances ol non4omplian¢e with la$ and regulaiions. We design pro¢eduits in line wilh our respc)nsibililies, outlined aboi'e. tt) IqeieLi tle[la1 Missialen(S in res¢1 of iTte(Tulat]ties. including frau¢J. The exient to which oui prw¢L1uS Ldpabl¢ of d¢l¢Ltints jtr¥tsUliitl¢$. inLluding hau(J is detailed beli)'_ How the dudil Wds ¢cinsid#i¢d LdP4ibl¢ of iJ¢teLlints jtr¢Lul4uiIi¢s IllLludinL fraud Oui" apprvaLh to identifying <iniJ a5S¢5sinu the ti5k5 of rnalerial misstateen¢ in T¢5cl of itte¥ulatities. including friiud Lind non- LompliaDLe w'ith laws aDd gulatiOns, w'a5 a5 follow5". the engageTrent partner en5uied that the engagefftent teafft collectii'ely had the appropriate co]npetence, capabilities and skills to idenrify or recognise non-compliance applicable lam'5 and regulations.. li'e identified the laws and regulations applicable io the Clknuiry through discussion5 with nnage[nEI and trustees, alld from our kllowledge ¥u]d exlie0ce ot the CIlry sector; 'L toeu%Ld on SPLcific [a'S and rLglllaiions leh COJL%idifLd hai"c a dircci nlerial LffLCt on thL accout)ts or thL aciiviiic% of thL charity. ThL8L il)cludLd hut WLfL noi limitL"d io thL (l)ariiiC% Aei OI l. Acei)unting and Reporting by C.ha]iiic8'. 8L2icmcnt of RLLommLndLd PraciiLL appliLahlL to LharitlLS pfLparing thLif tiLL()unis in accordanci with Financial RLpofiino Siandard applieablL 10 rhe United Kinodom and Republi¢ ol Ireland IFR.S 10?) leffecrive l January 70191: and Safeguarding Regularions as they atleit the direLI charitable aciivities of the Lhatiry: an W¢ dSS¥ss¥d th¢ ext¢nl vf LvmpliiinLe 7th th¢ laws and reguiativns iiqentifi¢d abvi'¢ ihri)ugh makin(T ¢nquiLies tsf naT¢ent and those Lharutd wryth uui'¢it]ance and le.1¢Wed minutes of ISte¢S [etin5. We assessed the susceptibility of the C11ty 5 finaDcial stateentS to te[la1 misstatement. including obtaininiF an UndeLtandIng of how fraud rniJu ]t occur, by.. • aking ellquiries of nnage[ent and m]5tee5 a5 to whete they con5ideTed there M'a5 Susceptibility to fraud. their knowledge of actual. sllspected and alleoed fraud; and considering the interna] conu'ols in E)lace 10 mitigate risks of fraud and non-compllate with laws at]d rcglllauons. To address the i'isk of fraud through tnanagemeni bias and override of conirols. we. pcrf0i.cd anleI predulES to idcniify any unu%llat or ALXlCd rclaiionships; IC8tid and rev1i.Ld journal cniriis io idcntify llnusual tranCtIonS. ie8tid ihc auiharisaiit)n i)f cxpcnditurL assessed wheiher judoemenis and Jssumpiions made in d¢i¢rniining ihe J¢¢ouniing estimaies were indi¢aiii'e of poieniial bias., and invesligaied the rnlionale behind si(TnifiLani Or unusual iransaLlions. In respvnse to (he tisk of itregularilics anLI nL)n-Lvrnplianc¢ wilh la% and r¢tsulaiions. we desitned pTh)Leduies which included, bui w¢re Trol liffliled to". • agreeing financial slalefflenl di5c105uies lo undelly1 suppotlillo docurnelllalio IEadinn the rnilluies of nK£lin(Ts of ttuslees- and • enquirin(T of Manal?enllt IL nd trustees as 10 aciuil and poieniial li[lall0 a[ clain]5. Thei'e are inhereni limiiLiUOnS in our liudii procedures described aboi'e. The more remol'ed thai laws and regulations from financial 'ansacuons, the less likely it is thai we would core aware of non-con]pliatJc£. Auditing standards also lin)ii the audit pi'ocedlli'es requiird to identify non-complice laws rL"gulations io ewlliry of thc mistecs and otr ManagenAL and inspcction of regulatory at)d Icgal corrcstx)ndencL. if any. Matil'ial mis%iatimLnt% that ari%L duc io fraud can bc hardcr tt) deicci than ihosc th gri from crri)r aA Ihcy may inv()Ivc dclibci'atc ¢on¢ealmenr or ¢ollusion. A fi]rther des¢ription ()[ oui reswnsibiliiies for ihe audii of (he a¢¢ounis is I{aled on ihe Financial Reporting Council's Websi ai www.frc.oig.ukldudifursr#sponsibilifi¢5. This d¢sLtiplion fvtms patl vlvur audilvr s i¢port.
Charity of ihe Sisters of Chri51 CIO Independent Auditor's Rert Use of report This report 15 made solely to the chatity"5 ttustees, a5 a body. in accordatKe section 144 of the Charities Act 2011 and with regulations tnade under section 154 ot that Act. Our audit ha5 been undertaken 50 thai we n]ight state to the chatity s tIU5tees those matters we are required 10 state to then] in an auditors report atMI for no other pu]P05e. To the fullest extent Yrled by la., we do not accept or aSSUn responsibility to anyone odr than the chariry alld the chariiy s trustees as a body, for oui. audit woi'k, for this report, or ftsr the opinions wt have tOrlld. Borucki & Co SignLd on 16 (knO1r *024 4Y Radnnr R()ad Hall'o. Middlesex HAI IRZ BoruLki & Co is eligible w act as audiior in lern of Seciion 1212 of the Companies Aci 2(K)6.
Charity of the Sisters or Christ CIO for the year ended 31 December 2023 Unresrtirted Gelleral Designated Rosiricted 2023 2022 tbnations and Ojfts PenblOJJS In*trnent income Total incon Raising fundg Inwe51ment ]nanaget5 fees Chariiabie aetiiilies Pasioral kttltI lJpkeep of cotllTnunities tXinatiDns and Tnissions I94.8) 184.?92 I.092 194.8(X> 184.?92 31Y).092 45.280 45.?80 51:889 512.889 Cjnvernance Ca4L 47_951 Coslb of abandoned land ba]e 577.971 577.971 Total expenditure 6?3.251 InC(MI less eXjm11(Ure 1314.1$9J 1314.1591 Net gaitts Iloss(sl ittTr(stmtttts 321.208 Net IllLY) lexpenditurel 7.(k19 7,019 TrntLsfers hetM'eetJ funds Net tn0}ennI in fund5 Balances broughi rorward l January 7.(M9 7.(H9 7.(M9 7.(H9 TrnrLsferred fr(bm the Lharily rfthe Sisters of Christ Ino 2Y47401 7.71.5.971 1.421.410 19.(XX) 9.186.411 Balances wrfed fonvard 31 December 7,743.020 1,4?1.-HO 19.(XX 9,193.4fA) Statement of totsl recognised gaiThs and Iwe5 The Lharily has no reLvuni%d vain5 or Ivss¢5 011[ than thuse 5huwn alM)ve and the[<fo no sepaiale slal#ment of i(Jtal U&lin5 and losses IK5 been pr¢par¢d. 10
Charity of the Sisters of Christ CIO Balance Sheet as at 31 December 2023 Notes 2023 2022 Fixed assets Tallgible setS Investmenis ai market Tr'alue 1.4?1.440 7,687.343 9.108,783 io Current assets DeL)to Cash ai bank and in hand 178.056 CreditiTrrs: falling due iihin one year 110_1,379) Net current assets 74.677 9,183.41K) Capital and reserv Unrestricted Gcncral fund Dc8ign&icd fllniL 7.743.020 1.471.440 9.164.41K) 19.(KM) 13 Restricted funds 14 9.183.46K) Appoved by the Trusiees and si(Yned oll theit behalf on 16 Ociober ?024 Ji)ycc Bonc Trn8iec
Charity of the Si5ter5 of Christ CIO Sta¢ement of e&sh flows for ¢he )ear ended 31 December 2023 Note 2023 Ch used in operating activities (8.3.6(Kl) Cash floivs frorn inN'e51ing aciviiies JllvcslThcnt Inco Pr()cccd% of invcstrncnt sales Purcha%c% of inve.%(nnI% Cash provided lused) in investing aciiviiies 184.?9? 1.750.966 (1.562.794) 372,464 Decre&se in c&sh and cash equivalenLS in year 288.864 Movement in vear (DeLTee) inLrease in Lash at ballk in ha {DeLTee) inLrease in ch held by investrnent Tnanagers for re-in1.estllt 157.750 288.864 A. Reconciliation of net m0Vent in funds to net rash floTF from operating actiiryti¢s 2023 Net moN'ement in funds DeduLt investment inLome Add deprecilt10n Addl(deduLt} net nK)%'ement on investTets. Value of net Lurreni asseis ttansfetted from TnJ5t InCreat (deCreae) in crediiars {Incre&%tl deire&%e in debtor 7.049 (184.999) 2.550 1321 ?08) 355.864 103.379 (46.94?) (83.6W) 12
Charity of the Sisters of Christ CIO for the year ended 31 December 2023 l Accounting wiicies Basis of preparation and asst.s$ment ofgtsing coltr 'thc aecounis be£n prcparcd undcr thc tll"sioriia] cosi coDvenlion with iieD]s [08Th15td ai cosi or transaciion value unless oiherwisc slated in the relevant llotel5I lo ihes£ accounts. -itse fiDaTrcia] staiemenls have ir¢n ppa[rd in accordance with the StaleineTrt of Recointnended Pr3ctic¢'. Accounting and RepTrTting by Chatilie5 Pteparing their in arcoidance wilh Ihe Financial Reporling StsndJrd appliLahle in the IJK and RepubliL Df Ireland [FRS 1021 i%sued i)n ISL Januat>' ?1119 and the FinanLial Re)rlIng .£idndaTd ,IppIiLable in the Unld tt0M and Repllbh"c tsl Trelattd (FRS 10?) and the Chatiiies Aci ?01 l. The in]st Lonstiiutcs a public bcttetii cniity as defined by FRS IU2. -the inisitcs considcr thai there no Jnateriai unccrtainiics aboui Ihe Trust's abilit} io comillue as a going concern. Income All income i5 recogni5ed once ihe ChilY has enliileNL¢lll lo Ihe incotu¢. il is probable ihai ihe income will be reled and the atnounl ol inL()me reLeivahle Lan he tud Teliably. [1)gnised when the TTu%i has been ThirJe in wtiling nf b()th the ami)unl and seitieineni ie. LLgacics are rOnised on a by Lasc basis follom ing the grdniing of probate when the administratorlcxccuior tor thc cstatc has coii)municiqicd in M'riiing both the a]nouni and sCltIenTrI ie. lTrleresi on funds held on detx)sil is included w'hell re£¢ivable.Ind the aOU1 can reliably by the charity: this is notmally upon notifi¢alioTr ol the inlet¢5t paid 01 pa)'able by the ballk. DiN'idend% ie teL()yised onLe the dividend h&s heen dei'lated nolificaiion been celed of the dividend due. Thi% i% nnrtndlly upc)n nOlifJcLltioTh by our invesimeni advisor tsf the dividetsd 5.ield in Ihc Jllvcslmcnt portfolio. Expenditure Liabiliiics arc recogniscd as cxpcnditure as soon therc is a Icgai coDstruclivc obiigaiion con]n)iiiing the chariry 10 that expcnditure, it is probl< ble that 5eitlemenl 'll1 be required and Ihe aniouDI of Ihe obligation can be ineasutrd liabl. The c05t of genera¢ing funds include5 the fe¢s paid lo ini.es1¢lll manage[5 in respt of Ihe managenrnl of ihe charily'5 invesimenl Expenditure on ch1[able Clivilies comprises eXnseS ittcut on the defined charitable purposes of the eharit). al includes staff cosis aiinbutÉlblc io ihc aciiviry.. -the coniribuiion io ihc GencnliTriC is ciiculi2icd annuall5" a[ rcprc5enis the exccss of the budgeic41 nct eXndire for Ihe y&2r over Ihe frce re5eTh'e at the end of the preYiou5 year. a5 adjusied for ihe purchase or sale of land and buildings. GovertLan¢e costs COp[l5¢ ol. exp¢nditute on w'iih und advire on constiiuiioTral and slalulory rnallel5. A% all expenditute be alttihuled %pecific LJtegoties no apFM)rtionme]]I betweetj heading has bn nece%ry. ITrecnverahle VAT i included in the items of expendiiure io which it relaies. Foreign Lurrenciwi Transacijons ill torcign curret)cies recordcd ai the rnling ai thc date ofthc knnsaction. Iqonctsry" assets and Iiabjlitics dcnojnjniqicd in forcign currcncics arc Iianslaied thc nic of cxchange rUlg ai thc balallcc shLfl 41aic. All diffcrences arc takcn 10 die protii ai)d loss account. Tangible fixed ets Freehold lartd buildings. in the tnain used as prii'aie resideoiiat accomm(Mlation. are includ at a vaiuaiion bas&1 either on a value csiinjaicd b) the uiistcLs or on liisiorical cost. llic TnIsS do ooi coJJsId that the ¢xn5¢ ol" a protcssionai aluatIOn In ordcr io asccrtain Ihc 5cparEile v,qiiics of thc land alld buildings is jusiified. 'I'he buildings ate in con51aTrt use in furtheiaTrce of Ihe chatitable objectives and mainiained 10 51andaids thai ensure that their residual value 15 not less than the b(x)k value. Building5 ate lloi depteciaid. for r¢asoD Maied. Ihei" ha¢ a very long useful e£oTroniic life such thal iinnual dePid[l()n wi)uld be i[nle[la]. All assets tosting more £1.[ with an ex[ed life ol mote thttn one l'ear are capiiaiised. Depreciation provided at the tollowing allniial raiLs in order 10 w'rite ot"f ch assci OVLf its Vilinmicd useful Iitc-. Atrcr tive eArb pl11. Cqlllplticiil. fixlurcs ld fitlinos with a Dei b(y)k value of tul are writtcn out of the accounts as in ihc opinion of the 'INstecs buch asseis have a negligible residual i'aiue. Pldnt. equiprnenl. fixlLire4 and fillings 20% un cost. Mtsior vehicles 25% Cost. 13
Charity of the Sisters of Christ CIO for the year ended 31 December 2023 Inve51mellts In%estments are ¥ form of b&81¢ finan¢ial Instru1 and are inilially rnognid ai their tran¢tion i.alue and subsequenily measuffd ai their fair a]lle a8 at the balanLe sheet dale u%ing the clo%ing quot&l markei pri. The %thiemenL of financial aciil'iiies include% the nei gain% and losses arising on Tevaluaiion disposals throughoui ihe year. The Trusi does noi acquire pui optlOll5. deriiaiii'es or oiher complex financial instrument5. The main fortn of financial risk faced b) the chariiy is thai of i.olaiiliiy in equil)" matke15 and inves1T[nI Tnatke15 due to wider econoTnic Londitiuns, the attitude uf invvitvrs to inv¢stTnent tisk. Lhanoe¥ in sentiTneni u)nLrrnino equities particular seLtor5 or %ub All gain% and Iossc8 arc takcn io the Staicmcnt of FinanLYal Aciii"iiics &% ihcy ari. Realiscd gains and 10&8&8 on invc%tnicnt% arc calculaicd as the difference beiween sales PreedS aThd their OFtning carr)ing i'alue or iheir purchase a]ut if acqllid subsequent to the first day of the financial year. UrliSed gains and 1055es are calculaitd a5 ihe diffetence bel'een Ihe fair Vali ai the Jear end and Iheir carr)iing value. Reali5ed and unT¢i]Is¢d inve%tmeni gdln5 art Lvmbined in the SeTneI vf Findncial Aciiiiiieb. Fund actnllnting The general fund comprise5 those Tnonie5. which Tna) be used iom'ards meeLing the charitable objectives of ihe charity ai the discretion of the Trustees. The de%ignated fund% aE monies %1 aside out of general fund¥ and desionai¢d fvr Slif]l PUTPO.sGs by the TTUStecs. The restricted funds are monies raised for, and their rt%iriLied to. a spe¢ifi¢ purN)se. or donaiion8 subje¢1 to donor imposed ¢ondilions. Taxation The chJrity is a tegislered charil) and iherefnte is liahle for inc(>tne laK or cnrpnration lax iTrCOTne derived from il Lhariiabltt Élclivities. Js it fall% lth]n the v0S exeJnpti()n% J%'ailJble io regi%terfxI Lhties. 2 Salaries and pensions of members General Dtbignated Restricted fund fund fund General D&siUnltC(1 ReslriLted fund fund fund 2023 2022 Salaries Pensions 124.81J) 124,81M) 124.8(Kl 124.8 3 Inve5tJnent income CTeneral Designated RLstricted fund fund fund Gcncrdl Dcsignattd RtSlriCLcd fund fund fund 2023 2022 Investment incotne BJnk and o¢her interest 183.842 450 184.?9) 4>0 184,?9? 4 Charitable acti)ryties General DesigDated Restricted fund General DesigDatel Restricted rund fund fund 2023 2022 Upkeep of communitie5 Statt Losts Pr¢tnis¢s Community and rSonal 327,620 1.144 95.12) 512,889 327.620 ).] 95.125 512.889 14
Charity of the Sisters of Christ CIO for the year ended 31 December 2023 S Governance costs General D£%ign2ted Restricl [nd Genernl Design&ld Re%trieled rllnd rund rund 2023 2022 Professional fees 47.9.51 47.951 47.9il 6 Net incoming {outgoingl roqourc&q before IrAer$ -this is slaied after charging Icrediiingl GenerAI Designated Restricted fund fund Genernl Designalel Restricte(I rund fund rund 2023 2022 SiiTrtf costs lllote 71 AudilOt% teTnuneration AccouTrling and oiher DepreciiÉ tion 327.620 327.620 -S.8(Ml 2.-i50 2.5_50 7 StsirrcosLs and trts, rtmunerAtion 2023 2022 Staff Losts during the )'ear were as follows= wi (Fe5 and 5alarie5 SociLI1 sc£uriiy costs pen.sion contribulions 1.5.D76 7..IS7 727.361 No employee eamed MO than £60.(KM) per annum lin¢luding IKnefitsTr during the )ear or in the p1"10y% year. Trustees As tnetnbers of the Order the Trustees, Iii'in¥ expenses JuT]nu ih¢ year wrTe Ix)rne by the Ttubt bui th¢ trustees Eceived nv ietnunerdtion or other benefiis in ¢onneLlion with their duiies Trusiees during ihe ye)roi In the previous )ear. The avernge number [emp]YeeS aJvaly5ed by function W*5: 21123 2022 Nutsing and d0rn¢5ti Taxation -I'he ttllsl as a eiStered ch4qtjiy. is extmpi Iiom IalLOIL OIi Its incon]e and ins falling wiihin Seciion .505 of the Taxes Act 1988 01. Section 256 of the Taxation of Charoeablt GaiTrs.4rt 1991 to Ihe exieDt thai the)" are applied lo i15 charitable objective5. No tax cl)arge ha5 15
Charity of the Sisters of Christ CIO for the year ended 31 December 2023 g TaDgible red assets Freehdd Furnilurc Ilolor v¢hi¢l(s IlI7ng$ equipment Tolal Lost Ai l January 2021 Addilions Di%pn.£als -rrallsfcrrcd from Irusi 1.421.440 21.628 Ai 31 Decemlxr 202.3 1.421,440 21,028 I,445.8 Depreciation Ai l JdnuaT)' 202.1 Charge for the Jear On Lli%posals Transferred from tst 2.550 2.550 21.078 23.628 21,078 Ai 31 Decem[ 2023 Net IMk vlle Ai.31 Dec¢tnber 2021 1.421.440 1.421.440 At 31 tkLrtnber 2022 10 Inv¢stments 2023 2022 J.i¥ted Investment Market value at l Januari 2023 AdJitiong at cost Sale proce£d5 from disposa15 Gain Ilo8%1 in }tar TTansferred from trust Markci %'alue at 31 Deccmber 2023 Cash held b) inN'eslmenl manager5 for re-investrneni 1,562,794 11,750.9661 321.20 7.396.5i7 7,529,593 l i7,750 7.6¥7.343 Ci)si of li%ted inwc%irneni% ai 31 Dccembcr ?(P3 6,792.tM)2 11 Debthrs hlortgaoc Oiher debtor Ptepa}'tneTrt% atctued income 2023 12.318 2022 9,474 46.942 12 Credithr.8: &mounL8 (ling due wilhin one ye&r 2022 2022 77.978 16.4.51 8.9.iO ItTr3.379 Sundr), crcdilots Accruals 16
Charity of the Sisters of Christ CIO for the year ended 31 December 2023 13 Designated funds The illLon)e funds of the Lharity irtcludes ihe followirtg designated funds. sei &side from the unrestyl¢l funds ol the tyusi by ihe Irustees for specifiL piirposes Incoming resourLL Utilisedl Trdnsfetred reaiised fn)In Tn]st December ?023 ?0?3 Capital fund 1.421.419 1,421.419 1,421,439 1,421.439 The capital fund represents the balance sheet value of land and buildinJo . 14 R&$tricted fllnds The income funds of the charity include restriffled fund5 comprising the followilla unexpended balances of donations and other monies held on trust to be applied for 5peLifiL purtM)se5 At.31 Dc£embcr ?0?3 January ?0?3 Incoming resourtts Utiliscdl Trdnsfcrrtd Tealised froni Trust Lzgacy fund 19.IMX) 19.IKK) 19.tKM) 19.tKK) The Specific purposes for which the funds are to applied are &$ follom's.. The t£gaLy fund ¢onsisis of lega¢ies leF¢ to inJiiidual Sis¢eEs by their famili&s. The income fiom the monies held b). this fund belongs to the irusl whilt Ihc di%w8lti()n Trf ihc capithl rtmains with the Si.sitts. 15 Analysis of Det a&sets tI¥een funds Roslricled fuDd5 fuDd ruJML 2023 'laiigible fixed a55ets Currcnt iTrsscIs 7.687.34.1 159.0.fi6 1.421.4tr10 9.108.787 178.0.56 1103,3791 9.183.460 19.IXX) Crcdiiors.. amounts falling dut 1th1n one )ear 1103,3791 7.743.020 1.421.440 19.iKX) 17