IrTr IDWI FMDM Foundation Charitable Incorporated Organisation Fronciscon MISS ￿P7￿[les O.. Tnt Div K10111trrl)ood FOUNDA TION CIO (cio) Annual Report & Accounts 31 December 2025 Contticle of Creotlon Artwork In LodywellReftctory, created by Catherine A. Johtsnsen of Scribble & Think Registered charity number: 1199520 PIJDM Franciscan 141s510ngriès ol the (>ivine Motherhood FOUNDA TION CIO lootrwellconvtnt The Trustee5 present their report together with the accounts of the Franciscan Missionaries of the Divine Motherhood Foundation Charitable Incorporated Organisation IFMDM Foundation CIO), also referred to as 'the Charit¢, for the vear ended 31 December 2025. Trustees, report 3-38 Independent auditorfs report 39-42 Accounts-. Statement of financial activities 43 Balance sheet 44 Statement of cash flows 45 Notes to the accounts 46-59 2025 Trustees, Report: Mission FMDM Foundation CIO Message from Chris Iley. Trustee and Chalr of FMDM Foundation CIO When we look back at 2025,1 believe it will be regarded as a pivotal year for FMDM. The year where the Congregation's long-term vision, which be8an with the launch of the FMDM Foundation CIO I'cl￿) and the introduction of lay trustees at the eftd of 2023, became a reality. The catalyst to this was the conclusion of a very successful FMDM General Chapter which not only produced an updated Chapter Message but also elected a new Congregational Leadership Team I"CLT"l. Sister Helen Doyle, who was a member of the outgoing CLT, became Congregational Leader, and was joined by three Sisters from Africa, an appropriate reflection of the importance of the African mission to the future of FMDM. Such a change creates both opportunities and challenges. With the departure of three CLT members, who had, with Sister Helen. been responsible for the Congregation and the running of the Charity prior to the launch of the CIO, the transition from CLT taking full responsibility for the Charity to the establishment of the Foundation CIO Board, is well integrated. Thi5 has enabled an organisational structure to develop with clear roles and responsibilities that rests on the pillars of: The CLT and Congregation to focus on the mission.. The Mission Partners. to assist the CLT on the delivery of the mission; and The FMDM Foundation CIO 8oard I"Board"I to provide strategic direction. govemance and oversight for the Charity. The clarity provided by this structure has been assisted by the Chapter Message. which framed the ongoing development of the Mission Action Plan which Sister Helen refers to in her message, an expansion and reorganisation of the Directors, Leadership Team I'DLT") at Ladywell, and the addition of several Franciscan Centre Ladywell I"FCL"I trustees into an integrated Board, which has improved coordination and efficiency across the Ladywell site. The challenge is not only ensuring on80ing communication and alignment across the CLT, DLT and Board but also managing the geographical challenge presented by such an internationally diverse charity, with much of its operations and leadership now based in Africa. However, there $5 joint attendance or membership at all meetings, including the sub-committees of the Board. This challenge is made easier given the shared values of FMDM include partnership and mutual discernment, whith were once again emphasised as part of the Chapter Me5saEe. Organisationally, we enter 2026 in a much better position to both support the mission, provide care for the elderly sisters, and to address some of the long-term challenges FMDM face5, such as improving our financial position. The report of the mission is detailed below, but I would like to highlight the ongoing growth of the Franciscan Centres, both at Ladywell and in Zimbabwe and Nigeria. In Ni8eria, we a￿ proyd to offer the La Verna Reconciliation and Healing Garden as a haven of hospitality and reflection for all those who seek peace. The FCL. having established an excellent reputation over the last two years. is now at a stage where it can separate out the operational workings of the Centre from the Spiritual Direction, now led by Sister Rogita Bonaventure, which enriches the experience for retreatants. 2025 Trustees, Report: Mission FMDM Foundation CIO Once again, I would like to thank all the lay Trustees for givlne their time so generou51y, and the Mission Partners throughout the Charity, for their dedication to FMDM. However, this year the Trustee5 would like to especially fecognise the outgoing members of the CIT, Sisters, Jane Bertelsen, the outgoing Congregational Leader, Monica Weedon and Helena MeEvilly, not only for the vision we have been following but also for making us all feel so welcome in FMDM. In this task they were ably assisted by our retiring Director of Finance and Business Administration, Shaun Cooper Irightl, who made the Board's lives so much easierl Integrating lay trustees into a religious organisation is not strai8htforward and mych credit is owed to all of you that such proEre55 has been made. M15S iYOII 5htturt Cooper The ourgoin9 Conofeguti(lnolLeude￿h{P Team.from left.. Sisterjune Bertelsen. Sister MonKo Weedon, ￿ster Heltno M¢Evllly ond&sterHelen tl)yle. 2025 Trustees, Report: Mission FMDM Foundation CIO Message from 51ster Helen Doyle, Congregatlonal Leader of FMDM Foundation CIO The FMDM General Chapter of 2025 marked a significant moment of reflection, discernment, and renewal, establishing the strategic and spiritual direttion that will guide the Congregation over the next six years. At this Chapter, a new Congregational Leadership Team was elected- Helen Doyle, Elvine Msimuko, Lury Bello, and Biatar Ndlovu. The primary role of the Leadership Team is to provide 5plrltual leadership, serving to guide and anirnate the life and mission of the Congregation, ensuring fidelity to its identity whlle responding effertively to the evolving needs of the world. As the Leadership Team began its ministry in September 2025, it did so Within a global context marked by conflict, division, and untertainty- In this reality, the enduring message of St Francis of Assisi calls the Congregation to root its mission in peace, retonciliation, and compassionate seNice. This continues to shape our response to the challenges of our time- striving to bring love where there is division, forgiveness where there is hurt, and faith and hope where uncertainty and despair prevail. At the heart of our misslon Is the tall "to be sister to all" to accompany and walk alongside those we serve. This approach recognises that meaningful and lasting transformation is fostered through generosity, compassion, and self-giving. Across our global ministries, we seek to build relationships, strengthen communities, and contribute to a more just and peaceful world, bringing li8ht in times of difficulty and promoting dignity and hope. A key priority for 2026 and beyond has been the development of 3 Mission Action Plan. providing a clear framework to guide our work. Rooted in our Charism, this framework ensures that all ministries are shaped thTough communal discernment and respond to identified need5, remaining both relevant and sustainable. Education continues to be a central focus, reflecting the commitment to "let your light shine" (Matthew 5.161. Through inclusive and holistic approaches, we aim to form both minds and hearts, enabling children and young people including those with disabilities to grow in dignity, recognise their potential. and contribute meaningfully to their communities. In the area of livelihoods and empowerment, guided by the vision "that they may have life and have it to the full" (John 10.'IOI, we support individuals and communities in building sustainable futures. This includes developing skills, strengthening local capacity, and encouraging participation in decision-making processe5. Collaboration remain5 fundamental to our mission. Working alongside local communities, Church structures, and partner organisations, we seek to share resources and expertise in order to deliver effective and sustainable outcomes. Outreach initiatives continue to address not only material poverty but also emotional, social, and spiritual needs, with particular attention to those who are isolated, vulnerable, or marginalised. Care for creation 15 embedded within our mission, recognising the environment as a sacred gift. Through sustainable practices and ecological awareness. we aim to contribute to the protection and restoration of our common home. 2025 Trustees, Report: Mission FMDM Foundation CIO Finally, our commitment to "widen the tentr 115aiah 54.'21 is reflected in the ongoing welcome and accompaniment of new members, Associates, and Mission Partners, as well as the care and support of members at all stages of life. These prioritie5 together provide a coherent and integrated framework for our work, ensuring that our ministries remain faithful to our mission while responding to the changing needs of the communities we serve. This work is strengthened by the commitment and expertise of our Mission Partners and Trustees of the FMDM Foundation Charitable Incorporated Organisation. One FMDM Familyi together on mission, C￿reating the future. 2025 Trustees, Report: Mission FMDM Foundation CIO FMDM'S new Congregational Leadershlp Team 11. At their General Chapter in May 2025, the Congregation elected a new Congregational Leader and CoLbncil. Members of the new Con8regation Leadership Team are, from left.. Slster Lucy Bello Sister Lucy is from Nigeria and has been a professed member of the Congregation for 29 years. She has served on mission in Zimbabwe, Zambia, and Nigeria. Through her ministry as a teacher, counsellor and facilitator, she has contributed to youth ministry, women's empowerment programmes, the formation of our young Sister5, and leadership among the FMDM Sisters in Nigeria. These experiences have shaped her commitment to service, accompaniment, and the mission of the Congregation. Slster Blatar Ndlovu A Zimbabwean who was born, raised and joined the FMDMS in Zimbabwe. She joined the Congregation in 1998 and made her first profession in 2002. Most of her ministries have been within the Congregation, mainly accompaniment of women seeking to join the FMDM way of life and in the recent years In leadership. Apart from the formation ministry, some of her ministries have involved the teachinB ministry of children taken from the streets, those with disabilities in Z3mbia, a listening ear to those on the streets of London as a street pastor, L'Arche community for people with disabilities in L'Arche London and accompanying widows both in the UK and Zambia. Sister Helen Doyle (Congregational Leadeil: Sister Helen Doyle was born and raised in Zimbabwe and is of Irish heritage. She has been a member of the FMDM Congregation since 1986 and has served in Zimbabwe, Zambia, Australia and the UK. Her ministries have included work as a teacher, formator for new members of FMDMI prison chaplain, and SUPPOrt worker with asylum seekers and refugees. More recently, she has served in ConEregational leadership. Slster Elvlne Mslmuko Was born and raised in Zambia and attracted and, inspired by the life of St Francis of Assisi, joined the FMDM Congregation in 1997 and made profession of vows in 2001. 2026 is a special year of jubilee for Sister Elvine as she is celebrating 25 years in religious vows and membership in the FMDM Congregation. She has served in Zambia and Zimbabwe. Her ministries have included formation, leadership. physiotherapy, and most recently as Researcher and Research Consultant at CERRA Africa - the centre for Research in Religious life and the Apostolate. 2025 Trustees, Report: Mission FMDM Foundation CIO Message from Sheila Isaac, Mlsslon Dlrector FMDM was founded to bring the joy, freedom and hope of the Gospel to people living on the margins of society, inspired by the Franciscan Charism of Saints Francis and Clare of A55isi who shared in the abundance of God's love and generosity. Today, thi5 mission is carried forward in diverse cultural and geographical contexts, many marked by poverty and conflict. To seNe effectively and responsibly, the Congregation has developed a model of shared mission that brings together Sisters and Mission Partners lay people appointed or employed to partner in sharing the mission. Together we ensure the continuity of the mission, while bringing our professional expertise, and with responsibility to safeguard the people we work with and FMDM'S reSOLirces. During a recent visit to Nigeria, I wos privileged to meet community members in a rural village affected by interreligious conflict, who spoke of their crops being burned only weeks before. In a dark overcrowded room, despite their anger and pain, they expressed gratitude to those of us whom they called the"FMDM Sisters". Yet all of us present were Mission Paftners- three men and one woman. This moment illustrated profound truth for me.. the people we encounter, experience a single, trusted FMDM presence because the mission is carried out wlth coherence and integrity, regardless of our role or vocation. The unity is intentional and the Sisters, foresight to share their Franciscan Charism wlth the world beyond religious vowed life, has opened door5 to welcome us into the unfolding FMDM story. Ahead of their time, the Sisters have long been doinB what Pope Francis wished for when he called for a synodal and mission driven Church: "We are all Yesponsible for the mission of the Church Whether one is a "bus driveff or a "farmert or a "fisherman" the mission is the same.. 'to bear witness with our lives", "each one contributing what they know best." (Vatican City, September 20241 This synodal way of working depends on good relationships and mutual trust. It arises from carefully planned formation towards mission integration and accountability. As Mission Partners, we take seriously QLbr responsibility as active participants in helping to keep the FMDM Charism alive. Ongoing formation towards of mission integration ensures we can articulate our Franciscan identity from Mission Awareness.. "We know the FMDM Sisters have a mission and we want to help" to Mi55ion Partnership where we are "actively part of shaping and creating the unfolding FMDM mission. In their General Chapter Message, May 2025, the Sisters committed to continue tQ"5hare and offer their Ifts" and "embrace partnership in their Mission" Their willingness to do thi5 was demonstrated following the election of the new Congregational Leadership Team ICLTI when twenty-one participants from the outgoing and new CLTS, the African Leadership Team, Trustee Board and the Senior Management Team, gathered for the Trustees, Annual Retreat Days. The themes of Franciscan Discernment and Franciscan Values in decision making were presented, and real-life case studies were debated. The times for prayer and personal reflection were appreciated by all those who attended. 2025 Trustees, Report: Mission FMDM Foundation CIO When Sisters and Mission Partners work and pray together in this way, our ministries come fully to life, and those we serve rightly experience us simply as "FMDM" one mission expressed through many vocations. Together, we continue to live FMDM'S mission with faithfulness, accountability, and hope in a fast-changing world. Shetlo Isooc ond Nothon Quushie with the mernbers of o DPIPACT9roup Nigerlo 2025 Trustees, Report: Mission FMDM Foundation CIO Message from Nlgel Evans, Centre Manager, Fran¢lscan Centre Ladywell The Franciscan Centre Ladywell continued to offer a place of welcome, prayer and spiritual renewal throughout 2025, serving individuals and groups seekin8 rest, reflection and Spiritual direction within a calm and supportive environment. Rooted in the Franciscan tradition. the Centre provides a space where guests Can step away from the pressures of daily life and engage more deeply with their faith and personal journey. Across the year. the Centre welcomed a wide range of guests, including indNidual retreatants, organised groups and day visitors. Many were returning guests who value the simplicity. peace and authenticity of the Ladywell experience. whilst others were visiting for the first time. Thi5 balance reflects l>oth the strength of the Centre's existin8 reputation and its continued relevance to new audiences 5eekin8 spiritual space and reflection. The rhythm of the Centre remained grounded in prayer, hospltallty and community, shaped by the Franciscan tradition of simplicity, peace and care for others. This way of life influence5 the daily experience at Ladywell, creating a distinctive environment that Is wldely appreciated by guests. Many speak of the sense of peace, welcome and spiritual depth that they encounter durin8 their time at the Centre. Key periods in the liturgical calendar, particularly Advent, Lent and the Easter Triduum, were well attended and formed an important part of the Centre'5 annual programme. These times provided OPPOTtunities for deeper Teflectiorii guided prayer and shared worship, contributing significantly to the spiritual life of the Centre and offering meaningful experiences for guests at important points in the Church year. In addition to residentlal retreats, the Centre continued to host day guests and smaller 8roup 8atherin8S. supporting a broad range of spiritual and reflective needs. The ministry of spiritual direttion remained an important and valued aspert of the Centre's work, offering individuals space for accompaniment, discernment and personal 8rovrth. This continues to be a key part of the Centre's mission and identlty. During the year, the Centre also introduced a series of "Days of Reflection", offerlng structured opportunit￿S for individuals to spend time in guided reflection around a variety of themes. These days have provided an accessible entry point for those unable to attend longer retreat5, while still experiencing the prayerful and reflective environment of Lad￿ell. The initiatNe has been well received. with growing interest and increasing demand and is experted to form an important part of the Centre'5 prograrnffle goin8 forward. During 2025, further step5 were also taken to support the development of the Centre's Youth Mlnistry. This included the introduction of a dedicated outdoor Tipi space, designed to provlde a flexible and engaging environment for younger visitors. The space is particularly suited to school groups, with growing focus on welcoming secondary schools and building on the foundations of the Youth Ministry. This initiative reflects a desire to broaden the Centre's reach and to create opportunities for younger people to engage with reflection, faith and community in a way that Is accessible and relevant. A significant development durin8 2025 was the transition in leadership. Sister Rogits Bonaventure took up her role in September, bringin8 a ￿neWed focus on the spiritual lrfe and dirertion of the Centre. I had 10 2025 Trustees. Report: Mission FMDM Foundation CIO the privilege of being appointed as the new Centre Manager in early 2026. As both Sister Rogita and I are relatively new in post, it Is recognised that this report reflects the Centre's activity during a period of transition. and that a fuller assessment of perfomiance and impact will develop over time. Looking ahead, there is a clear focus on building a more struttured, aligned and sustainable operating model that supports both the mission and the practical running of the Centre. Enhancing the consistency and quality of the guest experience is a150 a key priority. While the Centre is already valued for its welcome and atmosphefe, there is an opportunityto define rn0￿ clearlywhat the"Lad￿ell experience. represent5 and to ensure this is delivered consistently across all aspects of the Buest journey from initial enquiry through to departure. There is a150 a strong emphasis on making fuller use of the Centre's capacity. Opportunitie5 are being explored to develop a more intentional programme of midweek retreat5, a5 these periods are typically quieter than weekends. Alongside this, continued growth in group bookings and day use will help treate a more balanced pattern of actNity across the week and support long-tem sustèinability. Overall 2025 was a year of steady operation and meaningful engagement, maintaining the Centre's core purpose while embarking upon a period of transition that will shape its future direction. With new leadership now in place, there is a positive opportunity to build on these strong foundation5 and to continLEe developing the Centre in o way that is both 5U5tainable arkd faithful to its Franciscan identity. 11 2025 Trustees, Report: Objectives and Activities FMDM Foundation CIO OBJECTIVES AND ACTIVITIES When setting the Charity's objectives and planning its activities each year, the Trvstees take into consideration the Charity Commission's guidance on public benefit. Public benefit lies at the heart of the mission of the Catholic Church and is therefore central to the mission of any Religious Congregation. The objectives set out by the Charity are as follows= 111 To care for individual members of the Congregation throughout their lives; 121 to enable and support Sisters to fulfil their mission through a variety of charitable and religious works; and 131 to establish the Mission Partners and structures required to ensure our Franciscan legacy. l) Caring for members of the Con8reEatlon The Charity undertakes the following activitie5 to meet its objective to care for members of the Congregation. according to their individual and evolving needs.. aloperation of care fac115tles The Congregation has a moral and legal obligation to care for its members, none of whom have resources of their own, and all of whom have devoted their lives to the care of the Sick, elderly, poor, and marginalised, in society. As the Congregation ages. more of our Sisters need a greater level of care and providing hi8h-quality care to meet their needs increases the overall cost of their care. The care of our elderly Sisters in England and throughout the world is therefore central to the Charity's ministry. The Congregation owns and oper3tes a purpose-built care home, La Verna, at Ladywell for Sisters needing part-time and full-time care. In 2025, La Verna provided care to 33 Sister5 during the year and offered short stays for rehabilitation and recuperation for five Sisters. In Ireland, Malaysia, and Singapore the Congregation owns and operates similar facilities to provide part-time and full-time care to those of our Sisters requiring care. In Australia, the Congregation outsources care according to the Sisters, individual needs. b) Adapting our housing and facilities to the evolving needs of our Congregation The age profile of the members of the Congregation is increasing, as the Sisters age and the number of new vocations is extremely low. The age profile of the Congregation is shown graphically opposite. CONGREGATION BY AGE ¥1• si. For the near future, the Trustees expect the number of Sisters requiring care to remain high. Accordingly, the Trustees carefully consider the impact on the work of individual members of the Congregation, the property requirements of the Congregation, and the financial implication5 for the Charity. 12 2025 Trustees, Report: Objectives and Activities FMDM Foundation CIO The Congregation maintains a considerable international presence. Housing and facilities are managed in co-ordination with Mission Partners and Sisters. In Nigeria, Zambia and Zimbabwe the growin8 missionary operations of the Corkgregation necessitate the development of housing and missioll facilitie5. FMDM SISTERS BY AREA 1 70 j 50 30 20 io England Ireland Singapore Malaysia Nigeria Zimbabwe Zambia Au51ralia CLT David Goff, the Director of Operations for FMDM Foundation CIO, continues to work in close conjunction with the teams at Ladywell, including St Francls, La Verna and the Franciscan Centre. He ensures the smooth day-to4ay running at Ladywell, focuses on the strategic planning and operational management, along with ensuring compliance with regulations and policies. f¥ Jopone5e Gorden Motn Chape cl Appointing Mission Partners (lay staffl to care for and support Slsters During 2025, we continued to develop our partnership with the lay staff who work alongside and share their professional skills with the Congregation as Mission Partners. Mission Partners work collaborativety with Sisters in all the areas where the Congregation is active in spiritual programmes, seryice and construction projects, care, catering. finance, administration. communications and estates and facilities teams. 13 2025 Trustees, Report: Objectives and Activitles FMDM Foundation CIO 21 The Fran¢ls¢an Centre Ladywell The Frantiscan Centre Ladywell is entering a new phase of development, focused on strengthenin8 operational clarity, enhancing the guest experience and building a sustainable well.aligned model for future growth. 2025 marked a positive beginning for the Youth Ministry at the Franclscan Centre Ladywell. The Youth Ministry Lead. Davld Beresford. worked with over I.5￿ young people, both at the Centre and in their Schools. His vibrant and en8a8ing ministry consistently includes the proclamation of Gi)d's love and an encouragement for young people to make a positNe difference in the world through beingdisciples of Jesus. Franciscan themes such as Care for Creation and the Joy of the Gospel are often at the heart of the retreat days, expressed through games, activities, discussions. prayers, and art5 and crafts. Providing voung people with an opportunity to step away from the stresses and pressures of their busy lives is a real gift and the Centre is prNile8ed to offer this service. Teaching them to spend a few moments of stillness and sllence, simply breathing in the loving presence of God, plants seeds wlth the potentlal for profound 8rowth. The Youth MinisiKy ot Lodyw In September 2025 our Tlpi was built along with a super eco-friendly waterless toilet. It has become the base of this growin8 ministry. The Tipi can comfortably frt up to ICIJ young people at a time. It is bright, airy with panoramic windows and is festooned with fairy lights. The Tipi 15 Sltuated in the Youth Ministry field whlch is set up with football goals. Swingball, spike ball and lots of other bat and ball games for the young people to enjoy durin8 breaktime and lunch. Inside the Tipi there are a150 large rugs with various card games and Jenga for those who would rather relax inside. As part of ensuring the long-term sustainability of the Centre, a review of pricing is being undertaken. This is likely to result in a measured increase in rates, reflecting the rising cost5 of food, utilities and staffin& alongside the need to maintain and continue improving the quality of the facilities and overall guest experience. The revised pricin8 will bring the Centre more in line with comparable retreat and hospitality venue5. 14 2025 Trustees, Report: Objectives and Activities FMDM Foundatlon CIO Inside the Tipi Youth Ministrygroup w>ioyNn9 thelrbwk 31 Enabllng and supporting Sister5 in a variety of charitable and rellgious works The Charity supports and enables the religious and charitable works that each of the mi55ion5 comprises both in the UK and internationally. The Sisters are supported, enabled and encouraged to: Live the Gospel through their life of individual and communal prayer, and annual retreats. Study the ScriptL¢res to deepen their relationship with Christ and share their faith with others. Provide practical and spiritual support to those who are sick, impoverished or homeless and engaging in outreach work irtr lotal communities, such as interreligious dialogue, women and youth empowerment, spiritual and human development, and edutation. The Sisters. charitable and religious works are all undertaken on a voluntary basis and with any stipends they earn paid dlrectly to the Congregation. ) Charitable and religious works In England St. Clare'5 community based in Clapharn, London. is a Formation House for our Temporary Professed Sisters to complete their Spiritual Year Programme. The Congregation offer5 this year as a time to study, deepen a connection with Christ and embrace the FMDM way of life, away from the pressure of ministry. Topics covered in the study programme include Scripture, the Franciscan heritage, human development, pastoral reflertions, prayer and community life. In 2025, three Temporary Professed Si5ter5- Prisca Gupar, Ruth Nthele and Clare Kwapsoni completed their one-year spiritual program and returned to their respectlve communities in Nigerla, Zambia and Zimbabwe. St Clare's Convent a150 operates as a Hospitality Community which welcome5 Sisters who need to V15it London, and some parishioners use the chapel for prayer and reflection. Sister Madgalene Cletus, as Community Leader, supports the Temporary Professed Sisters with their religious studies, in addition to their tireless support of ongoin8 and diverse ministry in the local community. They feed the homeless in collaboration with the Redemptorist Community of Priests and Brothers at a local DTOP- in Centre in Clapham, volunteer at St. Peterfs, a local Nursing Home run by the Sisters of the Poor in Vauxhall. They also work alongside women's group5, Chaplaincies of Nigeria, Zambia and Zimbabwe and attend Diocesan and religious function5 in the local parish in Balham, In addition to vlslting the Sisters at Ladywell. 15 2025 Trustees, Report: Objectives and ActivEties FMDM Foundation CIO Il Temporory Professed sisters Ruth, Prisco Gnd Clure sters Muqdolene, MGry CtndRogito atun Interfoith Conference bl Charltable and rellglous works In our missions overseas The Charity supports OUT Sister5 in their work across social care, education, justice, peace-making, prison ministry, counsellin& and pastoral ministry, a5 well as in their outreach to women, children, widows, and people with disabilities in Zimbabwe, Zambia, Ni8eria, Australia, Singapore, Malaysia, Ireland, and Palestine. Wherever they live and work. our Slsters. mission is to respond to the cry of the poor, to support the vulnerable and to care for creation. This work is wide rangin8 and is comprised of our Si5ter5' individual ministries within their communities. The work encompasses the following areas.. Peac+making Children with Disabilities Education Agriculture & Sustainabilitv Pastoral Ministrtes Economic Empowerment Spiritual Healthcare In Nigeria, Zambia and Zimbabwe, the Congregation has a wide and growing range of projects and operations,. as well as formation communities for younger women di5cernin8 to join the Congregation. Peace-makln NIGERIA - The Damietta Peace initiative IDPII started in Nigeria in 2008 iin response to the ethnoreligious and political crisi5' in Jos, Plateau State, Nigeria. The aim of the project was to create safe spaces for mutual understanding and reconciliation through the sharing of our common life between people of different faiths. 16 2025 Trustees, Report: Objectives and Activities FMDM Foundation CIO FMDM'S vision is for an Africa where peace through non-violence is a way of life and people are motivated by the values of right relationships, harmony, reconciliation and tare for reation; Upholding the dignity of life for all people regardless of colour, race, creed and gender. The DPI operates via local Pan-African Conciliation Teams IPAcfi. Each PA￿ has as enabler that organises meetings and ensures there are both Christian and Muslims in each group to foster interfaith communication and growing understanding of eath other. In 2025, FMDM'S Congregational Mission Dirertor, Sheila 15aac, and its Internationol Projert Officer, Nathan Quashie, Visited our Sisters and ministries in Nigeria. During their visit they managed to meet over 250 active members of the DPI. What struck them most was listening to the storie5 of the attendees, hearing the pain and suffering they endured and, through their participation in the DPI, the sense of peace ènd togetherness they managed to find. Many of the members have become like family to one another. They help one another with business initiatives, collaborate on community initiatives like litter picking and Neighbourhood Watch, as well as looking after each otherfs children and invite one another to share and experience their religious celebrations. Previously deemed no-go areas have changed to become safe environments where adults and children can mingle together without fear of harm. OPI PACTgroup Serkui Arob. Jos DPI PACTgroup in Yolo DPI PACTgroup DPI PACTgroup in Jos 17 2025 Trustees, Report: Objectives and Activities FMDM Foundation CIO Chlldren with Dlsabilities ZAMBIA- The Charity has a long history of working with children with disabilities. Today the Charity operates the Little Assisi Special School in N'gombe Compound, Lusaka, Zambia. There are not enough government schools to accommodate the growing demand of special needs pupils in the area. In 2025, co-funding received from Misean Cara facilitated the third and final phase of the construction of buildings for the new school. This consists of an Administration block, a kitchen where meals will be freshly cooked for the pupils and a multipurpose hall that can be used as a dining hall and sports facility. The new school will be ready to welcome students from the summer of 2026. As with all our construction projects, all those involved in the construrtion recevied safe-guarding training and awareness provided by FMDM. The Project team in Zambia took part in the Children with Disabilities ICWDI programme. Funded by the GHR Foundation lan independent, private American philanthropic foundation that funds transformational changes in health, education, and global developmentl, the programme focu5es on improving service quality, strengthening organisational capacity and strengthening systemic gaps affecting children with disabilities. As part of the CWD programme, the Project team partnered with Lumen TV Zambia to produce thirteen television episodes. The topics covered included understanding disability, debunking myths about disability, early intervention strategies for educators and caregivers, and advocacy for systemic change. The overall objective of these TV programmes Was to improve awareness and understanding about disabilities. In conjunction with the television programmes, training workshops were also conducted for teachers, health workers and all administrative and support staff at the school. The training centred around empowering educators and caregivers on inclusive practices for supporting CWDS. The workshops were designed to enhance the tapacity of educatOT5 and caregivers in identifyin& assessing and supporting CWDS through practical, evidence-based strategies. The workshops comprised of four interactive sessions facilitated by Ms Sandra Mulesu of the Zambia Institute of Special Education ILAMISEI. The training covered disability types Iphysical, sensory and learning disabilitiesl. assessment tools, the social and medical models of disability along with practical strategies for creating inclusive environments. Pre and post workshop assessments revealed a significant improvement in the partScipants' knowledge, with average scores rising from 52% to 79%. ili Phose 3 construction of the Little Assis1 School CWD workshop atteftdees 2025 Trustees. Report: Objectives and Activities FMDM Foundatlon CIO Education ZAMBIA- The Charity also run5 the St Francis of Assisi Community school in the rural village of Kasanka. In 2025 the school had 403 students. 10 teachers and two SUPFlOrt staff {groundskeeper and a cook). With no other school within miles, the school is exceptionally popular and there are plans to construct more classrooms. As well as academic subjects, the school teaches self-sufficiency such as enabling children to grow vegetables in a kitchen garden and provides pastoral care for the children and their families. During 2025, the Projert team in Zambia facilitated a community disability support project via funding from Power4Good Ilrelandl. The project was initiated to respond to the growing needs of children and adults with disabilities in the Kasanka area. The project benefited several Students from the St Francis Community School along with the surrounding community where access to mobility aids remains limited. The funding facilitated the purchase of li wheelchairs and 11 walkers. The benefitiaries of the project experienced improved mobility which has led to independence and enhanced social inclusion. Wheelchoirs-Areshly delivered StFruncis Primuryschoolentrunce In Zambia. the Tertiary Education Sponsorship Program continues to support the comrnunity and provides opportunities for lotal students with genuine economic challenges. FMDM assists around 200 thildren with school shoes, books, uniforms, stipends for travel expenses and in certain cases, pays for tuition. NIGERIA-The Sisters opened the Assisi Nursery and Primary school in Tunkus in 2018, a rur81 area with historically high levels of illiteracy. The Charity helps fund the staff salarie5 to ensure the availability of the best quality teachers for the children. The school has grown from strength to Strength, providing education to 377 children. In July 2025, FMDM'S Congregational Mission Director and International Project Officer visited the school and were able to experience first-hand the quality education the children are recetvlng. Along with the classrooms, there is a large playing field, a well-equipped library and a computer lab. A school bus, purchased in late 2024, bore fruit in 2025 as it enabled children who live far from the school to attend. 19 2025 Trustees, Report: Objectives and Activities FMDM Foundation CIO The childrerj leorrjino in (loss As51sINursery und PrimorySchoollibrGry riculture & Sustainabilit Following the Franciscan precept of care for creation, the Charity seeks to minimise its impact on the planet through su5tairTrable energy use and sustainable larming. For the former, the Charity has solar panelling providing electricity in some of its offices and convents in Europe, Africa and Asia. In January 2020, Tunku5 farm wa5 established by the FMDM Sisters with the expressed hope of restoring agriculture to its rightful place in the heart of the community, by empowering and enabling the local people to adopt sustainable livelihoods. embrace traditional farming methods and utilise new agriculture techniques. In 2025, the Project Team in Nigeria embarked upon a Regenerative Agricultllre Project in Tunkus. Through funding from Misean Cara, they were able to purchase a tractor and two greenhouses for the farm and in addition, teach 50 people from the local community re8enerative farming skills. The project beneficiaries learned to reduce their reliance on using fertilisers and chemicals which are both expensive and damage the environment. The new practices have greatly ifflproved the soil health, water retention and biodiversity at the farm. The project has ensured that the communi￿$ agricultural systems are more resilient to climate change and environmental Stresses and the knowledge learned will benefit future generations and strengthen community livelihoods. The group continue5 to meet to share experiences ond learnings, using the DPI model. The project created new job opportunitie5, increased agricultural productivity and income streams for local farmers. The empowerment fostered a sense of ownership and self-reliance, allowing the community to continue innovating and improving their agricultural practices independently. 6?1, Regenerotive Ftrrming Projett Indurtlon Regenerotive Forffling ProJectgradu¢Ttion duy 20 2025 Trustees, Report: Objectives and Activities FMDM Foundation CIO In Zambia, a solar borehole was installed at Kalall Farm In Kasanka through funding from Power4Good Ilrelandl. The project comprised the installation of a tank stand, two water storage tanks and a solar-powered water pumping system. The project provided a safe, sustainable and reliable water source for the farm and farm staff throughout the year. It also strengthened the farm's capacity to support the provision of food for the St Francis of Assisi Community School. which benefitted over 403 pupils, 10 staff members and 30 community members. Solorboreholeot Kalolijorm in Kosonko Irltual The Sisters are involved in various spiritual ministries in pari5he5 and communities wherever they are based. This includes formal programmes, as well as the daily engagement of Sisters meeting with, supporting and praying for, families and individuals who seek their help and guidance. An ongoing example of a more formal spiritual programme is the Prayer Companions, work in Lusaka with the Zambian Association of Sisters IZASI. Here. lay adults attend a retreat series on relationships and prayer with Sister5 and volunteer facilitators. Having attended the course, retreatants have reported improved marital relationships and a better ability to deal with relationship issues. They in turn often become involved as volunteers and facilitators. Alongside the Franciscan Centre Ladywell, there are two additional Franciscan Centres In Yola, Nigeria and in Bulawayo, Zimbabwe. In 2025, construction began at the Franciscan Centre Yola, the first structures to be built were the multipurpose hall and toilets. The Franciscan Centre Yola aims to provide the community with a place of peace, beauty, prayer, and reflection through a Franciscan spirit of welcome and hospitality. The Franciscan Centre Bulawayo is in early plannin8 Stages with architectural drawings being compiled. In Abuja, Nigeria, at the La Verna Healing & Reconciliation Garden, construction of a Chapel Ifunded mainly by a Benefactor from Singapore) was completed. The garden provides a place of Sanctuary for those wishing to encounter God in creation: the chapel facilitates prayer in nature. 21 2025 Trustees, Report: Objectives and Activities FMDM Foundation CIO Healthcare In Zambia, Sister Judith Mw8ngo in collaborètion with ZAS, tontinued to take part in the Strengthening the Capacity of Religious Women Early Childhood Development ISCORE ECDI programme. The project focuses on children aged from 0-5 and covers nutrition, play and ommvnication and positive parenting. Sister Judith Mwango is a Master trainer. Knowled8e cascades from Master Trainers through local community volunteers, reaching approximately 30 families over several villages. The Master Trainers provide food/cooking demonstrations for good nutrition and stress the importance of sanitisation, play and communication. They also teach the parents how to recycle everyday household objects. such as plastic bottles, making them into toys. Pastoral Ministries The Sisters carry out a wide range of activities working with vulnerable people, following the Charism of St Francis to live among the poorest. This includes prison ministries, maintaining General and Poor funds for those who are critically destitute, a5 well as supporting those who are homeless. In Zimbabwe. the Project Team volunteers at Ngozi Mine once a week. in partnership with a local charity, Mustard Seed CoTnmunitie5. Ngozi Mine 15 a garbage dump on the outskirts of Bulawayo. A local community has developed there to scavenge this unsanitary site for good5 to Sell or recycle. FMDM and Mustard Seed Communities vislt this troubled area and help feed over 250 children to ensure they get at least one meal a day. • • Economic Em FMDM, in partnership with Stars of Hope1SHSI and funded by Misean Cara. established the Olivewood Project in Bethlehem. Led by FMDM Country Leader Sister Bridget Tighe, Project Manager George Handal and Safeguarding Officer Vanda Younan, the project created employment opportunities for women and people with disabilities through olivewood carving, embroidery, rosary assembly and packagin8. owerment Originally planned as five workshop5, the project expanded to eight in response to strong demand. Production activitie5 were adapted to diversify tasks and maximise inclusion. By providing too15 and equipment, the project helped workshops improve product quality, reduce production time and lower costs. Through engagement with mi55ionaries, religious groups and faith-ba5ed networks in England, the United States, Ireland and Singapore, the project also generated interest in future orders and opened up new market opportunities. As part of the project, participants completed a six-day training course in financial management and marketing. This led to measurable gains in business knowledge, increased confidence, stronger support networks and improved employability. 22 2025 Trustees, Report: Objectives and Activities FMDM Foundation CIO Exomples of the products producedby the workshop5 In bethlehem cl Grants, donatlons and support of mlsslon and mlnlstry Grants, donations and other payments in support of mission and ministry are decided on by the Trustees in consultation with other members of the Congregation, as appropriate,. except where the donor has specified which area or project, they would like the money to go towards. For unspecified donations in the main, the Charity supports the rninistries of the Congregation of the Franciscan Missionaries of the Divine Motherhood In overseas countries, inviting them to apply formally for grants from the FMDM Project Fund, to support their mission. 4) E5tsbllshlng the support staff and structures required to ensure the Franc15can mlsslon contlnues to expand As the number of active Sisters decreases. and the Charity's resources are increasingly administered by Mission Partners, Trustees are deliberate in their support and formation of all Mission Partners and structure5 have been established to ensure the charitable works of the Charity are fulfilled and their Franciscan legacy secured. 23 2025 Trustees, Report: Achievements and Performance FMDM Foundation CIO ACHIEVEMENTS AND PERFORMANCE In the context of FMDM'S objectives, our achievements and performance this year are as follows: l) CarinE tor rnembers of the Congregatlon ThroLFghout 2025, great work has been carried out by the Head of Pastoral Care and Community Events along with Pastoral Leads at Ladywell Convent. They ensure that the Sisters are well taken ca of, have plenty of activities to keep them occupied with exercise twice a week, receive visits from therapy dog and enjoy excursions 21 Enabling and supporting Sisters In thelr religious and charitable work Zimbabwe- Wldows worksho In 2025, the FMDM Sister5 and Project Team continued their outreach with widows in Bulawayo. Widows face compounded marginali5ation due to loss of income, limited education opportunities, lack of access to capital and weak Supply system5. Without targeted empowerment, widows remain trapped in cycles of poverty that affett not only The workshop5 are centred around strengthening their psychosocial wellbeing, confidence and fostering peer support. The themes of the workshops included celebrating the gift of motherhood. grief and loss. and the gift of life. erla- ARISE Pro ect bèn The goal of the project wa5 to create awareness of the dangers and ills of human trafficking and modern slavery. It was a150 targeted at elevating poverty, reducing the suffering and pain of thirty vulnerable women and youth5, enabling them to provide for the needs of their families through income generating small businesses and trades. A notable success story is Blessing Abaye, who attended a six-month tailoring course. In 2025 she became the proud owner of her own shop. The certificate she obtained from passing the course enabled her to get her own premises. Blessing is paying things forward by training four apprentices and emphasised how much the training changed her lrfe. Gfft of motherhood workshop Gft of lrfe workshop 24 2025 Trustees. Report: Achievements and Performance FMDM Foundation CIO Shellu Isooc (Mlsslon Dlrertorl ofidBlesslnoAboye Blesslng's certlfkote andfobrlc dtsplay Zimbabwe- N ozi Mine The Project Team in Zimbabwe plloted a vocational training project for two young women living in the Ngozi mine community. As previously mentioned, Ngozi mine is a squatter camp settlement around the perimeter of the Bulawayo CiVs dumpsite and has an estimated population of around 2CQ familie5. Throvgh the Projects Team's weekly volunteer work at the site, they began to form relationships with the young people and families based there. Many of the young people are forced to scavenge to make money. Through consultation with the community, the Project Team selecte(I two young women for vocational trainin8 courses in hairdressing and catering at the Bulawayo Projects Centre. The vocational training programme has had a transformative impact on both girls. They have not only developed valuable skills that enhance their employability, but have also gained immense confidence and a sense of purpose and drive. The vocational college provides six months of class-based learning and a further six months of practical on-the-job experience, through established partnerships that they have with local reputable businesses. The support of the college, along with guidance and counsellin& ha5 played a crucial role in the young women's success. Zambla- nstructlon of new ha el at Rletl Convent In 2025, the construction of a new Chapel at Rieti Convent was successfully completed. The projert was implemented under a structured multi-disciplinary oversight framework to ensure technical soundness, financial accountability, and alignment with Congregation's priorities. The new Chapel will provide a dedicated and dignified space for worship and spiritual reflection for the community at the Convent. The Chapel was consecrated by the Very Reverend Father Andrew Simpasa SJ. %+• 25 2025 Trustees, Report: Achievements and Performance FMDM Foundation CIO Archlves and thè Hèrlta o Centrg The Archives team in 2025 was comprised of Jo Halford and Sisters Teresa Mitchell, Claudia Lee and Rita Ballard. Day-to-day archival work continued as usual, with documents generated through congregational activities collected and catalogued, and a range of internal and exterr¢al research enquirie5 answered. The team also progressed the catalogLring project for the Congregation's photographic collection, with over 3,700 photO8raphs now ￿llY catalogued and scanned. In addition, the Archives team provided support before, during and after the General Chapter of 2025 and received and catalogued the documents arising from it. One large piece of work undertaken in 2025 was the preparation of policies for each of the regional FMDM archive5 in Ireland, Zambia, Zimbabwe and Nigeria. lo Halford worked closely with those locally responsible for each of these archives, to prepare documents which set out exactly what records we have in each country, how they are stored, preseNed and accessed, and who is responsible for them. The Archives team attended the Cathollc Archives Society Conference in Leeds where they had the opportunity to network with others responsible for the care and management of Catholic archives in dioce5e5 and religious orders. During the year. visitors from other archives were numerou5 and the Archives team had the good fortune to be able to share and support others with their work. The team also welcomed two visitors from the Mauritian founded order of the Sisters of Charity of Our Lady of Good and Perpetual Succour, who were particularly interested in the FMDM heritage project. The team also weltorned Abbott Geoffrey Scott and the archivist from Douai Abbey, who came to see a demonstration of the Axiell Collections cataloguing software and to hear about the team'5 experiences with it. There were visits to and from the archive of the Religious of Christian Education at Farnborough Hill School. Jo Halford wa5 able to offer advice on the cataloguing and prepared an advertisement which enabled the Sisters to successfully recruit a cataloguing archivist. In April 2025, two pallets containing 22 boxes of documents prepared by Sisters Teresa Mitchell and Claudia Lee, arrived safely at Ladywell from Singapore. Additional boxes, including photograph albums from Mount Miriam, Penang, were broughi back earlier by Sisters Jane Bertelsen and Helena McEvilly. Jo Hottofd wlth thÈSinqopDrearchives orriving pt Lodywtll 26 2025 Trustees, Report: Achievements and Performance FMDM Foundation CIO The collection wa5 placed in the climate-controlled strongrooTn, and over the subsequent months more than 5,000 records relating to FMDM activities in Singapore and Malaysia were catalogued, with many digitised for wider access. All materials were repackaged using archival-quality folders and boxes. Hundreds of photographs from Singapore and Mount Mlriam were Ilsted, repackaged and scanned. A successful application for a grant from the Catholic Archive5 Society enabled improved storage for large-format photo albums. New boxes for large format photo albums The collection reveals the rich history of the Sisters, ministries, relationships and contrlbutions in the Singapore region, offering an inspiring record of their lives and work. In May 2025, Karen O'connor. Archivist of the Bishops, Conference of England and Wales, asked whether FMDM could provide a permanent home for the Archive of St Francis Leprosy Guild ISFLGI after the closure of its London office. The SFLG was founded in 1895 by nurse Kate Marsden and is a UK Catholic charity supporting leprosy treatment through funding research, hospitals and equipment worldwide. FMDM has benefited from its donations since the 19405. In July 2025, Jo Halford viewed the collection of around 18 boxes containing mainly paper records, photographs, artefacts and some audio-visual material dating from 1895 to the 1980s. The documents were uncatalogued but in good condition and of stron8 research value, particularly as an example of a female-led medical organisation. &T FMDM agreed to accept this fascinating collection, our first from outside the Congregation, due to our shared Franciscan values. It arrived at Ladywell Convent in November 2025 with Shelving and storage boxes funded by SFLG. Though not yet catalogued, the archive is expected to be a valuable addition to FMDM, offering 5trollg research potential and c105e alignment with the Congre8atiofi's history and the mission of the Franciscan Centre Ladywell. 27 2025 Trustees, Report: Achievements and Performance FMDM Foundation CIO FUTURE PLANS The Trustees will continue working with the Con8regation and the relevant professional bodies to meet the three objectives outlined aljove, as follows- 11 Cafing ft>r members of the Congregatlon The Charity will continue to employ high quality staff and ensure they are appropriately trained to provide ir)creasing levels of support for Sisters. This care and support will coritinue to be provided in La Verna care home at Ladywell, to Sisters needing full-time Care at our care home in Ireland. and to those needing care in Malaysia and Singapore. In Australia, we have a Memorandum of Understanding with the Institute of the Sisters of Mercy of Australia and Papua New Guinea IISMAPNGI to provide financial. administrative and management services for our three FMDM Sisters. The Sisters also receive pastoral support for thelr ongoing Life and Mission from ISMAPNG and the Mercy Sisters themselves. Sisters who are still physically active, are encouraged and supported to remain in the wider community, continuing their ministrles among the people for as long as their age and health allow. It is expected that two properties in England will be sold during 2026 and the Sisters will move to properties that are more suitable to the Sisters physical needs. We will also continue to review our existing community houses regarding their suitability to meet the needs of Sisters, as these evolve. 2) Enabling and supporting Sisters in their religiou5 and charitable works Wherever Sisters are located around the world, they will continue to remain focused on the importance of prayer in their individual lives and to the overall mission of the Charity. The Charity will continue to care for and provide sUPPOrt to the Sisters to enable them to carry out their pastoral work and ministry. Focus and funding will continue to be given to assisting and carin8 for the most vulnerable and marginali5ed, in accordance with the Franciscan charism, and Sisters will continue to be encouraged and supported to reach out to as many people as Possible. 3) Establishlng the support stsff and structures requlred to ertsu￿ FMOM'S Franclscan legacy In Zimbabwe, the Sisters embarked upon hiring new Mission Partners to join their project team. Brian Nyathi IProject Officer) and Andiswa Hadebe (Assistant Project Officer) joined the FMDM family and work alongside Sister Blessing Ujah to form the Zimbabwe Project Team. Since joining the Project Team in February 2025, they have becorrse valued Mission Partners. Their fSrst project involved the setup of a market garden growing local crops and vegetables that can be sold at the market, with the sales income bein8 reinvested into the garden. They have also helped obtain the planning permission for the Franciscan Centre Bulawayo and are in the process of finalising the plan to create the Centre. Work continued at the Foxdale Farm in Zambia. The lon8-term goal is for the students that graduate from the Little A55isi Special School. to learn practical farming skills at Foxdale Farm, which will help them to transition into gainful employment. 28 2025 Trustees. Report: Achievements and Performance FMDM Foundation CIO In Nigeria, work continued at the La Verna Healing and Reconciliation Gardell in Abuja. The primary goal is to be a pilgrimage centre where Christians from all denominations and people of other Teligions can visit in search of solitude, peace, healing and reconciliation, amid all the tension and conflict. This garden hopes to provide a sanctuary where nature and quiet can bring a form of healing from the many traumas people experience. This Space will enable people to continue to face their daily tensions and create a positive impact on the lives of the individuals who visit it and in turn, will bring a positive change in the life of the local community and the families of all who visit. The construction of the Chapel was completed in late 2025. This project was mainly funded by a personal donor from Singapore. Along with FMDM, Missio Germany and MZF part-funded other aspects of the overall projett. ri Chapel ol Adoration. La Verna HeallTrz and Reconciliation Garden in Abuja 29 2025 Trustees, Report: Governance, Structure, and Management FMDM Foundation CIO Investment pollcy Whi15t capital growth is beneficial to the Charity, the key element to our investment strategy is to maximi5e long-term total return. At present our investment guidelines include an Ethical Policy precluding investment in any company which, after reasonable enquiry, clearly has significant profits from an activity which 15 cor>trary to the objectives of the Catholic Church. There are no restrictions on the Charity's power to invest. The investment strategy is set by the Trustees, havin8 taken advice from their Investment Committee, and takes into account income requirements, the risk profile and the Investment Managerfs view of the market prospects in the medium term. The overall investment objective5 are to maximise total return through a diversified portfolio whilst providing a level of income advised by the Trustees from time to time. As reported elsewhere in this report, the Trustees are keen to ensure its investments align with FMDM'S Franciscan values, so will continue to explore ethical and impact investing opportunities. The perfomiance of the portfolio and the Charit(s investment strategy are revlewed by the Trustees and the Investment Committee who meet with the Investment Managers every three months. FINANCIAL REPORT FOR THE YEAR Results for the flnanclal year A summary of the yearfs results can be found on page 43 of the accounts. For the year ended 31 December 2025, total income amounted to £5,115,50012024.. £5,155,013) with £2,630,14012024.' £2,625,640) being received by way of donations and legacies and £1,908,17512024= £2,016,956) being the income returned by the Charitfs investments. The Franciscan Centre Ladywell generated income of £506,46412024: £444,801) and income from other sources totalled £70,721 {2024.. £67,616). .41 Expenditure for the year totalled £9,078,67312024.' £8,603,371). Expenditure incurred on fnaintaining the members of the Congregation and supporting them in their ministry amounted to £5,672,452 {2024.. £5,729,0891. E¥penditure on grants. donations and the support of missionary work amounted to £2,856,45912024: £2.560,6781. The expenditure on Investment Managers, fees was £13,32012024: £12,6501 and expenditure on the operation of The Franciscan Centre Ladywell totalled £536,442 12024: £300,954). Net expenditure before investment gains for the year was therefore £3,963,17312024- £3,448,358). After accounting for the net investment losses of £234,413 12024.- gains of £4,123,393), the net expenditure for the year and net decrease in fundswas £4,197,58612024- net income and net increase in fund5 of £675,035). 30 2025 Trustees. Report: Governance, Structure, and Management FMDM Foundation CIO Investment performante Income from listed investments wa5 £1.7m12024- El.9ml. A net loss of EO.2m12024.' gain of £4.Iml arose on the disposal and revaluation of listed investments. As at 31 December 2025, the CharIt￿S portfolio of listed inve5tment5 had a market value of £71.Sm 12024.. £75.Sml. The Charity'5 listed investment portfolio represent5 the funds available to care for members of the Congregation in later life, the overseas projects fund and part of the general funds. The Investment Managers continued to invest in accordance with the Trustees, Investment Policy set out earlier in this report. Further details of the investment portfolio are provided in note 13 to the attached accounts. During 202S, the Charivs financial investments were managed by Cazenove Capital and CCLA, who both operated within specific guidelines that are set out and regularly reviewed by the Trustees. As shown by the below graph, 2025 wa5 Eenerally a good year for the financial markets however many of the high-performing stocks were related to sectors that the Charity avoids due to ethical and risk reasons. Allowing for this, concerns exist regarding the performance of the financial investments and the Trustees are therefore taking active steps to review the performance of the investment manasers. E¥thmpkn5ofg￿b)I Sto¢k market pèrfc*mane• In 2025 Q5 .SSP4COl41è.4%1 UI."F75E 1001+210N) Jwi Nlkkd2251*215￿j vjs Reserves pollry The reader will distern from the review of the year that the Charity carries Out a diverse range of activities and is responsible for care and support of Sister5 whose average age is increasing and whose needs are changing. The Trustees have examined the need for free reserves i.e. those unrestritted funds not invested in tangible fixed assets, designated for specific purposes or otherwise committed. The Trustees consider that. given the nature of the Charity's work and its commitments, the level of free reserves should be approximately four months, expenditure. The Trustees acknowledge that, as at 31 December 2025, free reserve5 (shown as 'General funds" on the Balance Sheet on page 441 equated to less than four months, expenditure and as such are considering how this can be addressed. 31 2025 Trustees, Report: Governance, Structure, and Management FMDM Foundation CIO Flnancial position The balance sheet show5 total reserves of £98.2m12024.' £102.4ml. Of thi5, £25.8m12024.. £26.Iml is represented by properties and other tangible fixed assets essential for the 5UPPQrt and work of the Sisters and form5 the tangible fixed assets fund. In addition, the Trustees have set aside £70m12024.. £70ml to meet the cost5 of the care and welfare of the Sisters in later life. The funds set aside to provide for the Sisters in later life, none of whom have resources of their own, have been re-assessed during the year. The calculations, based on actuarial methods, indicated that £91.Om12024'. £87.9ml is needed to be set aside in order to provlde £36,650 12024.. £36,200) per annum for Sisters over 65 years of age and, because of the greater health needs, £45,00012024.. £40,IK)01 per annum for Sisters over 75 years of age. In these accounts £70m12024.. £70ml has been set aside for this purpose constrained by the funds available to the Charity. In addition to the above, f Im12024'. £lml has been set aside to provide for the longer-term care and provision for Sisters native to Nigeria, Zambia and Zimbabwe. These Sisters have limited access to salaries and pensions or other income that will be available to help them look after themselves in later Of the remaining funds £193,08012024'. £165.7531 are restricted funds held mainly on behalf of overseas mission5. Funds available to SUPPOrt the work of the Sister5 in the future, in particular the support of the Congregation'5 missionary and healthcare work overseas, are shown as General funds on the balance sheet, which amounts to £1.2m12024'. £5.Iml As noted above. the Trustees are aware that the level of free reserves as at 31 December 2025 were beneath those required by the CharitW5 Reserve policy and are considering how this can be addressed. Tax exemptions The beneficiaries of the work of the Charity hove the assurance that all the income of the Charity must be applied for charitable purposes in furtherance of the Charity's objett of advancing the religious and other charitable work of the Con8re8ation connected with the advancement of the Roman Catholic religion. The FMDM Foundation CIO enjoys tax exemption on income from it5 activities and on its investment income and gains, provided these are applied for its charitable aims. As a Charity, it 15 also entitled to a reduction of 80Yo on business rates on the properties it occupie5 for its charitable purposes. The financial benefits received as a result of these exemptions are all applied for the purposes of advancing the religious and other charitable work of the Congregation connected with the advancement of the Roman Catholic religion. Thi5 enables and supports the Sisters to live out their faith and to put that faith into practice through a wide variety of religious and other charitable works. The nature of the ChariW5 activities means that it is unable to reclaim VAT input tax on its costs as it 15 exempt for VAT purposes. The Charity also pays tax as an employer through the National Insurance contributions it makes. The Charity provides 5ub5tantial benefits to local communities and society in general through the social and pastoral work provided by Sisters (often on a voluntary basis). In addition, the Charlty creates social a5set5 Without cost to the Exchequer through the significant amount of voluntary work carried out by the Sisters. 32 2025 Trustees, Report: Governance, Structure, and Management FMDM Foundation CIO Fundraising The Charity on occasion5 receNes donations and voluntary income. It aims always to achieve best practice in the way in which it communicates With parishes, donors, and other supporters. It takes care with both the tone of its communications and the accuracy of its data to minimise the pressures on parishioners, parochial church councils, donors, and supporters. It applies best practice to protect their data and never sells data, it never swaps data and ensures that communication preferences can be changed at any time. The Charity manages its own activities in respect to raising funds and does not employ the services of professional fundraisers. The Charity undertakes to react to and investigate any complaints regarding its activities for raising funds and to learn from them and improve its service. During the year. the Charity received no formal complaints about its activities for raising funds. Governance In temis of Canon law, the Congregation is governed at an international level by the Congregational Leader Isuperior Generall and her General Council. The General Chapter of the Con8re8ation, which is held every six years, elects the Congregational Leader and at least 3 Councillors. The Sisters are chosen for their personal qualities, their understanding and experience of the ministries of the Sisters throughout the world, and to secure a goo(1 skills mix. The Congregation is divided up. in most cases according to country. In some countries there is a Country Leader. who is appointed by the Congregational Leader and her Council. but others are overseen by teams consisting of Sisters and Mission Partners. In temis of Civil law, the Charity is 8overned by a Constitution dated l July 2022 and is regISte￿d with the Charity Commission in England and Wale5, Charity Registration Number 1199520. The Congregational Leaderand the General Bursar are currently Trustees along with nine lay Trustees. They ensure that they attend trustee training days throughout their term as Trustees. Where the Tru5tee5 do not have the relevant skills, advice is taken from professional advisors and standing advisory committees. The Congregational Leader and her Council generally meet every quarter to revlew developments regarding the Charity including personnel changes. ministry developments and other issues of governance and mission. There is a system of accountability within the Congregation to ensure that the Congregational Leader and her Council are fully aware of the progre55 and development of the ministries carried out by the Slsters of the Congregation. All sister Trustees are members of the Franciscan Missionaries of the Divine Motherhood and as such their living and personal costs are borne by the Charity. At their General Chapter in May 2025, the Congregation elected a new Congregational Leader and CoLJncil'. + Sister Helen Doyle Icongregational Leaderl • Sister Lucy Bello • Sister Elvine Msimuko • Sister Biatar Ndlovu 33 2025 Trustees, Report: Governance, Structure, and Management FMDM Foundation CIO The Trustees are incorporated under the provisions of Part 12 of the Charities Act 2011 as The Incorporated Trustees of the Franciscan Missionaries of the Divine Motherhood,. The Trustees who held office durin8 the year are shown within Reference and Administrative Details on page 38. Statement of Trustees, responsibilitles The Trustees are responsible for preparin8 the Trustees. Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales and in Scotland requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of the affairs of the Charity and of the income and expenditure of the Charity for that period. In preparing these accounts, the Trustees are required to: Select suitable accounting policies and then apply them consi5tently,' Observe the methods and principles in Accounting and Reporting by Charities-. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the United Kingdom and Republic of Ireland FRS 1021.. Make judgements and estimates that are re350nable and prudent- State whether applicable United Kingdom Accounting Standards have been followed, subjert to any material departures disclosed and explained in the accounts; and Prepare the accounts on the going concern basis unless It is inappropriate to presume that the Charity will continue in operation. li The Trustees are responsible for keeping proper accounting record5 that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Charity's Constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Structure and management reporting There are 60 Sisters living in England, living in various location5. The community houses are general located in those areas where it is believed that the Sisters can provide the most help to the poor and marginalised. The Trustees are ultimately responsible for the policies. activities and asset5 of the Charity. They meet every three months to review developments with regard to the Charity or its activities and make any important decisions. The day-to-day management of the Charity's activities, and the implementation of policies, is delegated to the appropriate members of the Congregation and / or the Director Leadership Team DLTI. Members of the DLT report to the Trustees and have easy access to them. 2025 Trustees, Report: Governance, Structure, and Management FMDM Foundation CIO Remuneration of key management personnel The Trustees consider that they and the DLT (Spiritual Dirertor, Mission Director, Director of Congregational Administration and Communication, Director of Operations, Director of Human Resources and Director of Finance and Business Administration) comprise the key management of the Charity in tharge of directing and controllin& running and operating the Charity on a day-to-day basis. In view of the nature of the work, the Trustee5 benchmark pay rate5 against pay levels in other similar organisations. Salarie5 of the members of the Director Leadership Team are reviewed annually by the Trustees, Benchmarking of salaries is deterniined by the level of responsibility and requirements needed to complete the role. As such, a full review of thejob description is used rather than comparing with similar job titles. When deemed necessary, the Trustees seek advice on benchmarking from specialist consultants. Trustees receive no remuneratlon in connection with their duties or responsibilities as Trustees, though Lay Trustees are able to claim reimbursement of expenses. Risk managernent In line with the ￿qUireMent for Trustees to undertake a risk assessment exercise and report on the same in their annual report, the Trustees have assessed the major risks to which the Charity is exposed. These risks are divided between those affecting the governance, in particular those relating to the spetifit operational areas of the Charity, its investments and its finances, and those outside the Charity's control such as changes in government policy, laws and regulations. The Trustees believe that by monitoring reserve levels, by ensuring controls exist over key financial 5y5tems, and bv examining the operational and business risks faced by the Charity, they have established systems to rnitigate those risk5. The following key risks have been identified for the Charity and are described below alon8 Wlth the principal ways in which they are mitigated: Softguording Safeguarding remains a fundamental commitment of the Franciscan Missionaries of the Divine Motherhood and is at the heart of our ministry, community life and service. Safeguarding activity supports the Congregation in promoting a culture in which all are treated with dignity and respect, and where safeguardlng concerns are retognised, raised without fearand responded to appropriatelv. The Congregations Safeguarding Lead is working with FMDM to ensure safeguarding prartice continues to be embedded across the Congregation. encompassing Sisters, Mission Partners, As50Clates and Volunteers, Trustees and others who come into contact with its ministry and charitable work. Safeguarding 15 promoted as a shared responsibilityi SUPPOrted by clear policies and procedures, accessible guidance and appropriate training. During 2025, the Congregation engaged fulty with the Catholic Safeguarding Standards Agency ICSSAI audit process. The final CSSA report was issued in May 2025, and focus has remained on supporting implementation of the recommendations and promoting continuous improvement in safeguarding practice across the Con8re8ation. 35 2025 Trustees, Report: Governance, Structure, and Management FMDM Foundation CIO Alongside this, a positive and proactive workin8 relationship has been maintained with the Religious Life Safeguarding Setvice IRLSSI. This has included acce55 to safeguarding training, advice and follow-up resources to strengthen good prartice across the Congregation. Training took place for Sisters, Mission Partners and Trustees, supported by on8oin8 en8aEement with RLSS guidance to ensure safeguarding knowledge remains current. reflective and responsive to emerging risks. Significant progress has been made to Stren8then safeguarding governance and oversight through the development of an FMDM Foundation CIO Safeguarding Committee, 5UPPOrted by a clear Terms of Reference. This Committee is intended to provide a cohesive and consistent approach to safeguardin& facilitate the sharing of best practice, support safeguarding leads, and ensure effective monitoring of safeguarding risks, compliance and continuous improvement across the Congregation. in line with the Catholic Church of England and Wales. Prioritie5 for 2026 include consolidating learning from the CSSA audit, embedding St￿ngthened safeguarding governance arrangements, and continuing to develop safeguarding awareness, training and confidence acr055 the Congregation. Long tern7finunciolsupport oAthe members ol the Cocernbqr Year ervjed 31 DeLwthr 2024 Totsi fvnds UnMstrf¢t•d R•*trfctod funda fur Totsl lund• Unresbicted Restt funds Ihcome from.. Donations and kgaaes Investment$ and Interest recelvabK8 charft8b￿ actkviU8s Oprali(¥n of a rtlre8t rentre 2,302,97S 1,908.175 327,115 2,630,140 2.353.657 i.￿.17$ 2.016.956 271.983 2.625.840 2.016.956 SO&464 70.721 4,78I33S TA)6,464 444.801 70,721 67,616 115.500 4.863,030 444.601 67.616 5.155.013 327 165 271.983 EApondltyre on.. Raisiry funds Charitabk aclMU8s . Grants, dOna￿On* and supportof missionary wotk and mintslry . Support ofthe members oftha CoNaregai*)n and Ihelr min . OperatK)n of a retreat cenirè Totsl oxp•ndtthro 1432 1&320 12,650 12,￿0 2.55S,822 2,85&459 2.305,323 255,355 2.seo,878 5,872,452 s.672,4S2 5,729,089 636,442 300.954 9.078,673 8,348.016 5.729,089 300,954 8,803.371 Y78,816 299,837 255,355 Notl•xp•ndlbJr•l Ineom• for• Inv•8tm•nt yaln8 13,990.5011 27.328 13.963.1ni (3.464.986) 16.626 13.446.358) Nel1105sesl Gains on ltre revaTuath?n and disposal of Invèstments 13 1234,4131 123V131 4,123.393 4.123.393 Ngt l•xpgndltur•l In¢om• forthg y•ar and n•t rnov•Th#int In lun¢• 14.224.91AI 27.321 14,197.S861 838.407 16,628 673.035 R•con¢lllatlon of fund• Total fijnds brwhtforwaol 101231,770 16S.752 102,397,522 101.573.363 149.124 101.722.487 Total I￿n￿$ forw•rd 98 199 936 102.231,770 165.752 102,397,522 All recognised gains and losses are included In the above statement of financial activities. All of the Charlty's activities derived from continuing operations durin8 the above two financial years. **FMDM Foundation CIO** ## **Balance sheet** |Notes
**Fixed assets**
Tangible fixed assets
12
Investments
13
**Current assets**
Debtors
14
Cash at bank and in hand
**Liabilities**
Creditors: amounts falling due
within one year
15
**Net current assets**
**Total net assets**
**The funds of the Charity**
**Income****_funds:_**
Restricted funds
16
Unrestricted funds
. Tangible fixed assets fund
17
. Designated funds
18
. General funds|**31 December**
**2025**
**£**
**635,586**
**872,884**
**1,508,470**
**(600,479)**|**31 December**
**2025**
**£**
**25,766,600**
**71,525,345**
**97,291,945**
**907,991**
**98,199,936**
**193,080**
**25,766,600**
**71,000,000**
**1,240,256**
**98,199,936**|31 December
2024
£
564,161
952,494
1,516,655
(724,604)|31 December
2024
£| |---|---|---|---|---| |||||26,136,005
75,469,466| |||||101,605,471
792,051| |||||| |||||102,397,522
165,753
26,136,005
71,000,000
5,095,764| |||||102,397,522| Approved by the Trustees on 23 **[rd ]** June 2026 and signed on their behalf by: ## C J Iley ## **Chair of Trustees** . . ; · **.** . _ft�f._ **I** **44** Statement of cash flows FMDM Foundatlon CIO 31 D8cember 2025 31 Deitmber 2024 Not¢$ Cash 110￿ from operating actlvlttes.. Net ¢a$h used In opeiatrng 15.455.194) 14.974,5971 Cash flo￿ from Inv8sdng acuvwes: Di¥idonds and interest listed invest￿nts 1,908,17S 500 1,673,LK2 3,950 11,248,096) 10,174.286 15.85e,5691 4,744,633 Proceerts trom the dk8ry)$al of taNJOle t￿ed assets Purchase oftangibk fixed assets Proceeds trom the disposal of Ir6ted investments Purchase of listed investments Net cash provldod by Inv08tlng actlvhl88 1241,7221 15,974,672 111,103,0481 ,538.577 Changa In cash aThJ cash equlvalents In the year 1,083,383 1229.9641 han#¢ du• to for•Jgn •x¢hany movtm¢nt 11.07n 192,7381 Cash and cash equlvalents at 1 January 1.396,126 1.718.828 Cash and cash equlvalent8 at 31 D8¢emb•r 2A78.432 1,396,126 Notes to the statement of cash flows A Reconclliatlon of net Income lexpendlturel forthe year to r*t rash used in operating activllies 31 December 2025 31 2024 N•t l•¥penditur•l In¢om• las perthe $tatsm•nt of finan¢l•l •¢tMtl•g1 Adjustments for. DEpr￿lat￿n charge Gain on dlsposal of tangfib￿ flxed assets Losses Igainsl on Ilsted investments Foreign exch8nge1055es Investment inceTh and int8re8t rec8Nab (In¢￿ase} de¢rea$e In debtOT5 De¢oase in ¢redito 14.197.588> 675.035 611.127 15001 234,413 1.077 11,908.1751 171,4251 1124.1251 15.455.194) 576,514 13,9501 14,123,393) 92,738 12.018,9561 340,153 1514,7381 14.974.59TI W*t ¢a$h used •p¢ra￿n9 xWvl¢l Anatysis of cash and cash e4U1¥a￿Trts 31 31 2025 2024 Cosh al bank and in hand Cash hew by investrnent man¥ger Total ca¥h and ca¥h equivalgnts 872,884 1.605,548 2.478,432 952.494 443.632 1,396,126 No separate reconciliation of net debt has been prepared as there 15 no difference between the net cash Idebtl of the Charity and the above cash and tash equivalents. 4S otes to the attounts FMDM Foundatlon CIO The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below. Basis of prepafation These accounts have been prepared for the year ended 31 December 2025. The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unle55 Otherwise stated in the relevant accountin8 policies below or the note5 to these accounts. The accounts have been prepared in accordance with Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charitie5 SORP FRS 1021 and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Charity constitutes a public benefit entity as defined by FRS 102. The accounts are presented in sterling and are rounded to the nearest pound. Critical accounting e5tirnate5 and areas of judgement Preparation of the accounts requires the Trustees and management to make Significant judgements and estimate5. The items in the accounts where these judgements and estimates have been made include those in respect to: + the estimation of legacy income to which the Charity ha5 entitlement but has not yet received.. + the useful economic lives attributed to tangible fixed assets use¢J to determine the annual depreciation charge,. • the assumptions adopted by the Trustees in determining the value of any designations required trom the Charitys general unrestricted funds,. and estimating future income and expenditure flows for the purpose of assessing the Charity'5 going concern Isee below). Assessment of going concern The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The Trustees have made this assessment in respect to a period of at least one year from the date of approval of these accounts and have concluded that it is appropriate for the accounts to be prepared on a going concern basis. The Trustees are of the opinion that the Charity will hove sufficient resource5 to meet their liabilities as they fall due. The most significant areas of judgement that affect items in the account5 are detailed above. With regard to the next accountinE period. the m05t significant areas that may affect the carrying value of the assets held by that Charity are the level of investment return and the performante of the investment markets. FMDM Foundation CIO Income recognltlon Intome is recognised in the period in which the Charity has entitlement to the income, the amount of income can be measured reliably and it 15 probable that the income will be received. Income comprises donations and legacies, investment income, interest receivable and sundry income. Donations, including salaries and pen5ion5 of individual religiou5 received under Gift Aid or deed of covenant, are reco8nised when the Charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount Is accrued for where the receipt is considered probable. In the event that a donation is subject to condition5 that require a level of performance before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that those conditions will be fulfilled in the reporting period. In accordance with the Charitie5 SORP FRS 102 volunteer time 15 not recogni5ed. Legacies are included in the statement of financial activities when the Charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the Charity. Entitlement is taken as the earlier of the date on which either: the Charity IS 3ware that probate has been granted, the estate has been finalised and notification ha5 been made by the executor to the Charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably anif the Charity has been notified of the executorfs intention to make a distribution. Where legacies have been notified to the Charity, or the Charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title of the asset having being transferred to the Charity. Investment income is recognised once the dividend has been declared and notification has been reteived of the dividend due. Interest on funds held on deposlt is included when receivable and the amount can be measured reliably by the Charity- this is normally upon notification of the interest paid or payable by the bank. Income from other sources Including retreat house charges is accounted for on an accruals basis and 15 Stated at fair value net of any discounts. Sery•ce5 provided by members of the Cobigregation For the purpose of these accounts. no value has been placed or¢ administrative and other services provided by the members of the Congregation. Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to make a payment to a third partyi It is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses are allocated or apportioned to the applicable expenditure headings. The majority of expenditure is directly attributable and any apportionment between headin85 is negligible. The classification between activities is as follows: 47 to the accounts FMDM Foundatlon CIO • Expenditure on raising funds comprises investment management fees. • Expenditure on charitable activitie5 includes all costs associated with furthering the chafltable purposes of the Charity through the provision of its charitable activities. Such costs include- Grant5 and donations payable which, in the main, relate to the 5UPPOrt of the other parts of the worldwide Congregation's and its overseas missions. Grants payable are included in the statement of financial activities when approved and when the intended recipient has either received the funds or been informed of the decision to make the grant and has satisfied all performance conditions. Grants approved but not paid at the end of the financial year are accrued. Grants where the beneficiary has not been informed or has to fulfil performance conditions before the grant is released are not accrued for but are disclosed as financial ommitments in the notes to the accounts. Expenditure on the support of Members of the Congregation and their ministry enable5 the members to carry out the charitable work of the Congregation in the areas of the advancement of the Roman Catholic faith. the provision of nursing care, the advancernent of education and the relief of poverty. Such expenditure includes governance costs which comprise the costs involvin8 the public accountability of the Charity (includin8 audit costs) and c05ts in respect to its compliance with regulation and good practice. All expenditure is stated inclusive of irrecoverable VAT. Pension costs Coniributions to employees. personal pension plans and defined contribution pension schemes are debited to the statement of financial aclivitie5 in the year in which they are payable. Tangible flxed assets All assets costing more than £3,000 and which have an expected life exceeding one year are capitalised. • Freehold land and buildings Q Freehold land and buildings, and major improvements to buildings, are included in the accounts at cost, with the exceptiorb of one property which is included at fair value at the date of its reclassification from being an investment property in 2019. Non-specialised buildings i.e. those designed as. and used wholly or mainly for, private residential accommodation are not depreciated. Their value and condition are reviewed annLtally by the Trustees, who are satisfied that their residual value is not materially less than their book value. Any depreciation thereon, therefore, would be immaterial. ¢ Specialised buildings are defined as those comprising the Charivs large residential convents. With the exception of buildings under construction, depreciation is provided at 2% per annum on a straight line basis in order to write off the buildings over thelr estimated useful economic lives to the Charity. Buildings under construction are not depreciated. Q Properties previously held for investment purposes and tronsferred to tangible fixed assets upon change of use are transferred at their most recent carrying value, which would be an estimate of their market value. Following transfer, the market valve is taken to be the assets deemed cost. 48 Notes to the accounts FMDM Foundatkn ao * Furniture and equipment Expenditure on the purchase and replacement of furniture and equipment Is capitalised and depreciated between four and ten years on 0 straight line basi5. A full yearfs depreciation charge is provided in the year of acquisition where the tangible fixed asset was purchased in the first half of the financial year. No depreciation 15 charged on purchases made duririg the second half of the financial year. • Motor vehicles Motor vehicles are capitalised and depreciated over a four-year period, on a straight line basis, in order to write off the cost of each vehicle over its estimated useful life. Investments Listed investments are a form of basic financial instrument and are inttially recognised at their transaction value and subsequently measured at their fair value a5 at the balance sheet date using the closing quoted market price. The Charity doe5 not acquire put options, derrvatives or other complex financial instruments. As noted above the main form of financial risk faced by the Charity is that of volatility in equity mathets and investment markets due to wider economic tonditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. Realised gains lor losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unreali5ed gains and 1055e5 are calculated a5 the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains lor 105sesl are combined in the statement of financial activities and are credited lor debitedl in the year in which they arise. Debtors Debtors are recognised at their settlement amount. less any provision for non-recoverabllity. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the fulure cash ￿ce[pt where such discounting is material. Cash at bank and in hand Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than th￿e months but less than one year are disclosed a5 5hort-term deposits. Cash placed on deposit for more than one year is disclosed as o fixed asset investment. Cash held by the investment manager for re- investment are accessible on demand and therefore considered to be a cash equivalent. Credltors and provislons Creditors and provision5 are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the Charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. 49 to the accounts FMDM Foundatlon CIO Fund strurture Restrirted funds comprise monies raised for, or their use restricted to, a specific purpose, or contributions subject to donor-imposed conditions. Designated funds comprise monies set aside out of unrestricted funds for specific future purposes or projerts. The tangible fixed a55ets fund comprises the net book value of the ChariVs tangible fixed assets, the existence of which is fundamental to the Charity being able to perform its charitable work and thereby achieve its charitable objectives. The value represented by sijch assets should not be regarded, therefore, as realisable. General funds represent those monies which are freely available for application towards achieving any charitable purpose that falls within the Charity's charitable objects. Forelgn currencles A55ets and liabilities in foreign currencies are translated into sterling at the rates of exchange rulin8 at the balance sheet date. Transactions in foreign currencies are translated into sterlin8 at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the net movement in funds. so Notes to the accour FMDM Foundatlon ao Income from donations and legacios 31 DKembeT 202$ Total fund¥ 31 December 2024 Total funds Un￿tr￿s Restrfc*8d funds fur¥ls lund nd$ C￿eft8nted tsalarbes aThl pen*ons of Indl%ldual relwjious ConlribulK>ns and transfers from other ovetseas regions of the Ffanc15can MissK)naries of the MDlherhcrt)d 8SQ319 806,319 777.634 77T.834 1.313,013 1,383,013 1.378.883 1.378.883 DwaI￿n5 to ba appI￿rt towa￿S o¥erse•s rog￿n$ 19,346 280.120 299.466 67.201 265.699 332.91X> General donalon5 antt 44,29B 1302,976 47,045 327,165 91,343 2.630,140 129.939 2,353,￿7 6.284 271,983 136.223 2.625.640 Included within restricted 'donations to be applied towards overseas regions, are amount5 received frorn Misean Cara support of overseas projects. The assoclated expenditure Is reported within note 5 to these accounts. 2. Income from Investments and intgrgst rg¢glvablg Un￿81r￿ted fu￿$ 31 31 2026 2024 Incorne from Ihtgd Inve&trnqnts . UK equ￿85 . UK fixed inief8SI pookd fvnds . UK othpr poobd funds . 0¥8￿eaS POO￿ ftJThJs 63.225 22.S6 1,339,704 298,165 I,723,￿2 102.298 1.540.810 245.127 1.889.717 Iiitoro81 M¢￿Vabl0 . Cash instrLThenis 104.51J 18{513 127.239 127,239 1.908.175 2.016.956 Income from othgr sources Vnrestrkted Ji 31 20Z6 2￿24 Gain Dn disposal of llwible B85ets Sundry InGtsma soo 70,221 70,721 3.950 63,666 67,616 51 to the accounts FMDM Foundatlon CIO Expendlture on ralslnz funds Unrestiicted fuThJs 31 2025 2024 I￿￿51Th8n1 manjgers. f 13,J20 12.650 Expenditure on charitable activities: Grants, donations and support of missionary work and rninistry 31 DK•mb•r 2025 Tcal funds Unr•thcW R•str1ct•d ndB fisnd Unres1ri(*ed rund5 31 0ec6mbar 2024 Toialfunds Re5trKted fu￿$ Supp￿ of ml$Blonary wovk and mlNJtry Grants In $urwtofthe m1¥8￿￿¥￿ work and MI￿Stry oltF* Cong￿931￿ In Af Nigtrna . Zambla . Zimbalywe Grantsloward5 the supw of members ol Ihe CongW8bOn Irdand and other regDIg 458,663 4O0,ZBJ 492,W3 $IS73 136,495 521,236 536,778 103.$33 201.927 86.792 227.283 .D47 131.743 17.208 235,974 218,535 244,491 f,•7Q,268 I,OM,268 1,537.637 1,537.837 U21,B17 209,998 2.631,916 2,053.639 182.$98 2,236,637 iiltrni to Insthutfjo Equ41 to or rnor•than £lO.000: OlivvoAod Pr4èct IBotNeMmi' in gtspptyt 01 IbelrwLvk Misean C8r8.' T￿+4{¢$1no trAIIty'5 work 2ts,Y26 20,726 10.275 10.275 FMDM NW•". . Mispan Cara Fundiw". PramDt rtyonerauve agttullure IgYeenhou$e and knctor) TNards furnisthn9 f¢rihg mLltswrpose hall al Lavèrna Towa￿$ the Insi¥iLMion ol ￿ar panels lor conference centre al La Verr TINéards v8rfou$ Constr￿bon wtyks al the La Vema Reconaliation H￿1￿ Cemre 30.e99 30,839 10,3 1#,321 10,400 10AOO Fm￿ Zamty8' F0Xda￿ Fwm. Lusaka. Ihliw a boundaryw*l 18.QOO Iq,ODO Sl Franti4 Sthocl, Kasanka" TLwdards Altomafv•en8ryrf . Tty¥ardg ts•cber8abd8S 10,234 10,234 114,074) 26.708 28,7 Liiwe A55151 Speual SchDd. Kasanka". FMOM. Exp8n*on ofa nL￿- oeniial sr*ty•l neeos 8¢hO¢I lor CKOS Mlsean cara tyndlng. Em￿n￿On ola non-residBnU4 speiw n8•J$ Sc￿ frjr CWD$ . Ttyvards their s*aTrEs 36.e86 64,C42 54,012 34.222 18.OOS 18,4osi 34.248 LH•than É10,fpJO 73.234 lJ.260 •6,404 103.860 7.456 111.3S8 Donat6onJ to kbdlvlduals" 23.634 1.781 25,415 2,556.622 299,8J7 2,8$6.4S9 Donatlons of £l,IJOO or more were made to 2 individuals12024.' 2 individuals) 52 21.907 2,305.323 21.907 2.580.878 255.355 Note5 to the accourbts FMDM Foundatlon CIO Expenditure on charitable activities: Support of members of the Congregatlon and their ministry UnrESttK*ed fund 31 31 2015 2024 Preml$es Slsters. lI￿n9 aTh1 personal exFenses Ed￿at￿n, Irahlng and Sp￿tual le1￿￿81 Dek￿￿8*￿Jn staff rA)sts (note 10) FO￿9n exchange losses OthwsUPPOrt costs Govèmance Costs (note 81 839.$34 500.005 317.SOS 611.127 2,816,104 1.07T 477,408 ,692 5.872,152 841.091 679.675 197.287 576.514 2,886.024 3*.387 59.363 5.729.Q89 7. Operation of a Retreat Centre Unreslrfcted fvnds 31 31 2026 2024 Staff C¢>¥ts Olher R8tr88tC05ts 381.601 154,841 536.442 215,894 85,060 300,954 8. Governance costs (knreslrthd fvnds 31 31 202 2W24 Legal and professlonal I 53,692 59,363 Net Income for the year and net movement Sn funds This is stated after charging.. 31 D¢¢emb¢T 31 De￿n* 2025 2024 Staff ¢0sts Inole 101 Audilorfs rernuneration lincluding VAT) Statutory audrt services . Non-audit and advisory servKes . Prior year und¢r-awu Depreciation Operating laase rentals 3.197.705 3,101,928 36,000 10.476 7,216 611,127 2,688 24,51YJ 10.5flJ 576,514 2.¢88 53 otes to the accourrts FMDM Foundatlon ao io. stsff costs and remuneratlon of key management personnel 31 31 2025 2024 staff Costs during tho yeor were as foll¢)ws". Wages and 5aLgries Sooal secunty cosis Other pen$K)n ¢osts 2.748.065 316,134 107,502 3.171.701 2.696.303 260,827 100,414 3.Q57.544 16.412 27.972 3.101,928 Redundancies and tarmlnatlon payments Self-emplOy￿ and agency $laff 26.004 3.197.706 Staff costs have been apportioned between the support of members of the Con8re8ation and their ministry, and the operation of a Retreat House as follows-. 31 D8c4mb•r 2028 31 2024 Support ef member5 ofthe cOngregat￿n and their ministry Operation of a Retreat Hous8 2.816.1Q4 381,601 3.197,70J 2.686,034 215.894 3,101.928 The average number of employees, analysed by function. was= Headcourt cem 2D25 Total No. 2024 Tot No. Support of rnemb8Tr of tho Con9regalion and Ih•r ministry 80.3 91.0 eration ol a Retreat Hou$? Full-lwne eqU￿a ¢•m 2025 Totsl No. 2024 Total No. Support of mernbers ofthe Congregat*)n and thelr minwy 71.9 80.0 Operation of a RetrEBI House 1*kO The number of employees whose employee benefits lexcluding employer pension contributions) exceeded £60,OCM) were as follows- 31 31 2026 2024 Tot81 No £60,001 . £70.￿0 £70,001 . £80.QOO £80,001 - £90,000 £￿,001 . £100.oryJ Notes to the accounts FMDM Foundatlon CIO The Trustees consider that they and the Directorfs Leadership Team - Spiritual Director, Mission Director, Director of Congregational Administration and Communication, Director of Operations. Director of Human Resources and Director of Finance and Business Administration-comprise the key management of the Charity in charge of directing and controlling, running and operating the Charity on a day-to-day basis. The total remuneration lincluding taxable benefit5, employerfs pension contributions, and employerfs social security costs) of the key management personnel for the year was £426,95912024= £334,577), the increase reflectin8 that two existin8 roles were redesignated as part of the Directors, Leadership Team during 2025. As members of the ConEregation. the living and personal expenses of the Trustees were borne bv the Charity during the year. However, they received no remuneration and no reimbursement of expense5 incurred in connection with their roles during the ye3r12024- £nill. 11. Taxatlon The FMDM Foundation CIO Is a registered charity and, therefore, is not liable to income tax or corporation tax on income or gains derived from its charltable activities, as they fall within the various exemptions available to registered charities. 12. Tangible fixed assets Froehow land & buildirtg$ Fvmrture and aqu￿ment Non- spo¢iali50d Spo¢kltsad Mot¢r vehld¢s Total Al 1 Jan￿ry A(>Jrtions DisposaLry Al 31 ￿e￿tser 7.671.855 23.859.741 17.112 78.876 971.820 145.734 242,8e4 32.746.300 241.722 18.5471 32.979.475 7,e88,967 23,938,617 1 117,$54 234 337 D•preclatlon Al 1 January Charge for the year Eliminaled on disposal At 31 Oec¥mb•r 5.678.900 477,534 707.830 121,696 223,565 11,897 8.547 226.915 0.810.295 611,127 16,547 7.212.875 6.156,434 829,526 N•t book valu0$ At 31 De￿mber Al l January 7,888,967 17.782,183 7,671,855 18.180,841 288,028 263,990 7.422 19.319 2S,766,800 26.136.005 It is likely that there are material differences between the open market values of the Charitws land and buildings and their net book values. These arise from the specialist nature of some properties and the effects of inflation. The amount of such differences cannot be ascertained without incurring si8nificant costs, which in the opinion of the Trustee5. 15 not justified in terms of the benefit to the users of the accounts. SS es to the accounts FMOM Foundatlon ao 13. Investment5 2025 2024 Lbtsd Invostm•nts Fwr lrnarkell value al 1 January Additions al Cost Di$po$al prtKeed5 Net 98in5 on the disposal and revaluat￿ of IK5ted investm8nts Fair Imark*l Value at 31 Decamber Ca8h hold by In¥¢sbn¢nt mamyrfor r¢investm•nt 75,025,834 75.218,158 11,103,048 5,858.569 115,974.6721 110.174,2861 1234,4131 4.123,393 69,919,797 75.025.834 1,605.548 443,632 71.525.345 75.469.466 Co$1 of investments at 31 Oecember 62,741,902 65,602,619 Llsted investments held at 31 December comprised the following.. 2025 2024 UK equities UK fixed interest pO0￿d funds iJK other pooled fund$ Overseas 8qulty pooled funds Intarnalional equlty 1,924,135 2,132,848 41,373.242 4,585,467 19,904.106 69,919.797 2.956.181 2.333.353 46.188.240 4.711,732 18.836.328 75.025.834 All listed investments were dealt in on a recognised stock exchange. 14. Debtors 2025 2024 Investment income rec8wab prepaY￿ntS ana a¢cnJed iwme Other debtQT5 366,545 206.4B9 62.552 63S,$06 374,009 130,930 59,222 584,161 15. Creditors: amounts falllng due wtthin one year 2025 2024 Mon￿8 admlnislered by Ihe Charity on beh#W of ind￿￿￿81 rnembeT5 of the Frand$¢an Mi$sionarie$ of the Dwine Molhethood Arnounts due to and held on ￿half of other overseas reglons of tha Fran¢is¢an Missionaries of the Divine Motherhood SoGial serJJrty and othertaxe5 Other credrtors Accruals and deferred tncome 124.295 124,6 9,385 87,778 173,288 205,733 800,479 9,385 87,581 308.077 194,865 724,604 56 FMDM Foundatkn ao 16. Restricted fund5 The income funds of the Charity included restricted funds comprising the following unexpended balances of donations and grants held on trust to be applied for specific purposes.. At At 31 D•cemb 202S January 202S Inccffje Expendit￿re M￿an Cara funds Other mission fijnds Other restrictsd funds 1961 153,479 64.323 215,797 17,045 327,165 162,0141 1209.9971 127,8261 1299,8371 2,213 159,279 31.588 193,080 16S762 At 31 De￿I￿r 2024 l J￿Uary 2024 Irmne Expgnth?u Mi58an fvnds OtherM￿S￿ funds Oth8rrestricledfvnds 72,262 193.437 6.284 277.983 (72,3581 (182,9971 143.039 6.085 749,124 153.479 12.369 165.752 (255,3551 Misean Cara funds comprised monies received from Misean Cara, Ireland, for the support of specific projects which are being undertaken by the Congregation in Africa and Gaza. Other mission funds comprised monies to be applied towards the Congregation's missions overseas. Other restricted funds comprise donation5 received principally at community level where the donation was subject to donor-imposed conditions. 17. Tan8lble flxed assets fund 2026 2024 At 1 January Net movement in year At 31 Dacember 26,136,00S 1369.40S1 2S,766,6O0 25.464.423 671,582 26.136.005 The tangible fixed assets fund represent5 the net book value of the Charity's tangible fixed assets. A decision was made to separate this fund from the general funds of the Charity in recognition of the fact that the tangible fixed assets are essential to the day-to-day work of the Charity and os SLsch theirvalue should not be regarded a5 being realisable, in order to meet future eontin8encies. 57 ote5 to the accounts FMDM Foundatlon CIO 18. Deslgnated fund5 The income funds of the Charity include the following designated furlds which have been set aside out of unrestricted funds by the Trustees for specific purposes.. A131 Dt¢ember 202S January 2025 1115wV Released •WL-: Sisters, retiFem8nt fund Missionary sisteis. rellrement fund 70,ow,oriJ 1,WO,000 71,000,OCrtI 70,000,000 1,000,000 71,000,000 All January 2024 AÈ31 U1M￿ed/ Released Docfrmber 2024 Sist8ts' rptiFFffienl fvrjd MissA￿9ry wstets. refvvment lund 70.000.000 1.000.000 71.000,000 70,000,￿0 1.000.000 7t.000,ooo The funds have been designated for the following purposes.. Sisters, retirement fund This consists of monies which the Trustees have set aside in order to provide for the sisters in later life. The calculations indicate that £91.0 million should be set aside in order to provide £36,650 per annum for sisters over 65 years of age and, because of the greater health need5. £45,000 per annum for sisters over 75 years of age. In these account5 £70.0 million12024 - £70.0 million) has been set aside for this purpose. constrained by the funds available to the Charity. Mlsslonary slsters. retirement fund The missionary sisters, retirement fund comprises monies set aside to provide for the longer-term care and provision for sisters native to Nigeria, Zambia and Zimbabwe. These sisters have limited access to salaries and pensions or other income that will be available to help them look after themselves in later life. 58 Note5 to the accounts FMDM Founthtlon CIO 19. Analysis of net assets between funds Tangibl• fixod assets D•&lgnated fund funts Q•n•ral frjnds Re8tr1ctsd funds Total 2026 Fund balanc•s at 31 Decern￿r 2026 are repre58ntod ty.. Tangible fLKed ￿ets Investments Nel current assets Total net ass8ls 25.766.81)0 2S.766,600 71,525,345 907,991 98.199.936 625,346 714,911 1,240,256 71.000.¢)00 193.080 193.080 25.766.600 71,000,000 fixed assets fund Desw8led funds Genernl funds Rests7cled Tot 2025 Fund be18FKes et37 Dettmbw2024 IWB represenled by Tangible [￿ed￿$Sets Inwestfflonts N81 cuThontassets Tot81rtsE ass8ls 26, 134005 26.736.005 75.469.466 165,753 792.051 165.753 102.397.522 4.469.466 626.298 5,095,764 71.000.000 26. 136,005 Tl,000,OOQ Rel*ed party transactlon5 Other than the matters disclosed within note 10 to the accounts, there were no other related party transactions requiring disclosure during the year ended 31 December 2025 (year ended 31 December 2024- no other). 21. Ultirnate control The Charity, which is constituted as a Charitable Incorporated Organi5ation, was controlled throughout the year bythe Congregation of the Franciscan Missionaries of the Divine Motherhood by virtue of the fact that the members of the Cor¢gregation elect the Superior General and the General Councillors at the General Chapter held every six years and the General Bursar is appointed by the Superior General every three years. The Congregation does not hold any assets, incur liabilities or enter into any transactions in its own right within England. Assets and liabilities in England are vested in the Trustees of the Charity, who undertake all transaction5 entered into in the course of the Congregation's charitable activities. 22. Lease comrnitmentS At 31 December, the Charity had total future minimum lease payments under non-cancellable operating leases as follows.. 2026 2024 Ollk• •qulpmnt Amountdue wthin ￿ ytrar Arnourts due b8ts¥een aTrJ fve years inckn5Ne 5.376 8,064 10.752 59