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2025-03-31-accounts

CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO (Registered Charity Number: 1200125)

REPORT AND ACCOUNTS

31 MARCH 2025

CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

REFERENCE AND ADMINISTRATIVE DETAILS

REGISTERED CHARITY NUMBER 1200125

CONSTITUTION

The Charity is governed by a Charitable Incorporated Organisation constitution registered with the Charity Commission on 18 August 2023

TRUSTEES

Sister Philomena Jordan Sister Patricia Mary Trussell Sister Elisabetta Carolina Maccariello (appointed 16 April 2025) Margaret Teresa Finn (appointed 28 March 2025) Sister Helen Mary Louise Randles (resigned 16 April 2025) Sister Margaret Mary O'Reilly (resigned 1 February 2025) SUPERIOR Sister Winifred Burke PROVINCIAL BURSAR Sister Pat Trussell PRINCIPAL OFFICE LSU Provincialate 53 Croftdown Road London, NW5 1EL AUDITORS HaysMac LLP Chartered Accountants 10 Queen Street Place London EC4R 1AG SOLICITORS Stone King Upper Borough Court (UBC) Upper Borough Walls Bath BA1 1RG BANKERS Barclays Bank plc Hatton Garden Business Centre 99 Hatton Garden London, EC1N 8DN

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REFERENCE AND ADMINISTRATIVE DETAILS (continued)

INVESTMENT MANAGERS

Brewin Dolphin 12 Smithfield Street London EC1 9BD

INSURANCE BROKERS

PIB Insurance Brokers Poppleton Grange Low Poppleton Lane York,YO26 6GZ

INVESTMENT POWERS

The Trust Deed of the Charity places no restrictions on the Trustees’ powers of investment.

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TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2025

ORGANISATION, GOVERNANCE AND MANAGEMENT

Organisation

The charity was established by LSU, as the ‘Congregation of La Sainte Union des Sacres Coeurs UK CIO’ (LSU UK CIO). After a change of structure to reflect the changing profile of the Congregation, Anglo Hibernia (AH) is now an ‘Area’ of the Congregation covering the United Kingdom, with responsibility for the sisters living in the Republic of Ireland as well. It also had responsibility for the sisters in Tanzania until 31st December 2023 when Tanzania became a separate ‘Area’ within the Congregation.

Background information

The charitable activities of the Congregation of La Sainte Union des Sacres Coeurs in England and Wales (LSU) are conducted through a registered Charitable Incorporated Organisation (CIO), ‘the Congregation of La Sainte Union des Sacres Coeurs UK CIO’ (“the Charity”) registered, on 18 August 2022 in England and Wales, as charity number 1200125. The Charity began operations on 1st September 2023. As well as carrying out the exclusively charitable activities, the Charity holds all of its assets in England and Wales.

Trustees and Civil Law

Whilst the LSU Coordinators’ Team is responsible for the broader canonical aspects of the running of the AH Area, consisting of England & Wales, Northern Ireland, and the Republic of Ireland, it is the Trustees of LSU UK CIO who take responsibility for the management of the charity, in compliance with Civil Law.

The Trustees are shown on page 1 of this report. At no time will there be fewer than four and no more than eight Trustees. The Trustees attend appropriate courses and conferences relevant to the exercise of their responsibilities to ensure good governance of the Charity.

The trustees are ultimately responsible for the policies, activities, and assets of the charity. They meet and consult regularly to review developments about the charity or its activities and to make all decisions. The Trustees meet at least four times each year and will meet more frequently when circumstances require it. There is also a minimum of three meetings per annum with the Charity’s investment fund managers, and regular meetings with other advisers.

The trustees seek advice and support from the charity’s professional advisers including property consultants, insurance and financial advisers, solicitors, and accountants. The day-to-day management of the charity, and the implementation of policies, are delegated to the appropriate members of the AH Area or senior staff.

Principal Objects

The principal object of the CIO is “the advancement of the religious and other charitable work carried on, by or with the support of the Congregation, anywhere in the world, as the Charity Trustees shall from time to time think fit.”

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OBJECTIVES, POLICIES AND ACTIVITIES

The main object of the CIO is “the advancement of the religious and other charitable work carried on, by or with the support of the Congregation, anywhere in the world, as the charity trustees shall from time-to-time think fit.” [Constitution of LSU UK CIO Aug 2022]

Within this main object, the Charity undertakes a range of charitable activities. All sisters within the AH Area as it is now, work in the pursuit of the Charity’s aims, often long past the normal retirement age. Much of this work is now in a voluntary capacity but where a salary or stipend is received, it is all paid to the Charity to support its ongoing work. None of the sisters have independent means, having signed a Deed of Covenant whereby everything they earn is covenanted to the Congregation; as they are fully supported by the Charity. In addition to performing work through the sisters, the Charity also provides support to some charitable projects.

Public Benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on Public Benefit when reviewing the Charity’s aims and objectives and in planning future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set. The activities are:

1. Education

The Charity’s principal aim is ‘the development of society through education in all of its forms in both the developed and the developing world.’ We therefore view education as a key area in which to achieve public benefit. Through it, the Charity seeks to promote self-acceptance, concern for others and an understanding of the dignity of human living, in all its schools. The Charity provides buildings and land for schools. Day to day management of the schools was delegated by the Trustees to the Governing Body/Board of Directors of each school. The management of the four secondary schools is in the process of being transferred to the Gaudete Trust which will oversee the legal, financial and inspirational responsibilities formerly exercised by the Congregation. LSU UK CIO will continue to own the land and property used by each school.

In the educational institutions in which it is involved, the Charity seeks to attain a high level of academic achievement as well as providing a broad programme of extra-curricular activities. It emphasises the Christian message and values of the Roman Catholic faith.

The Charity holds the Trusteeship of the following five Voluntary Aided and Academy Schools:

La Sainte Union Convent School, Highgate Road, London

St Anne’s Convent School, Rockstone Place, Southampton (Academy)

St Catherine’s School, Bexleyheath (Academy)

La Sainte Union Convent School, Grays, Essex

Holy Cross School, Aveley, Essex (part of the Christus MAT)

The Congregation became a member of Religious Orders in Education (ROE) which has enabled the schools to benefit from sessions held for senior management. On-going work of building relationships between the four LSU Secondary schools has seen students visiting each other as links between them are fostered.

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OBJECTIVES, POLICIES AND ACTIVITIES (continued)

2. Healthcare

The AH Area has a moral and legal obligation to provide care for its members, none of whom have resources of their own and all of whom have devoted a significant part of their lives to (a) education at primary, secondary and college level, and/or (b) the care of those elderly, poor and marginalized in society. The sisters are all under a vow of poverty and therefore providing them with support is an important element of the Charity’s work.

As the existing sisters in the AH Area grow older, and the number of new vocations becomes minimal in Europe, the age profile continues to increase, as it has with many religious congregations. As of 31st March 2025, there were 72 sisters with an average age of 83.5 years. One result of this is the increasing need for healthcare.

The Trustees know that the number of sisters requiring care will not decrease in the coming year and are attentive to the impact of this on (i) the number of individual members and the work they can undertake, (ii) the property requirements; and (iii) the financial implications. The aims of the Trustees in this regard include for the forthcoming years:

As members of a Religious Order and fully supported by it, the sisters are not eligible for any means tested benefits in the UK. The Trustees take this into serious consideration in drawing up their Reserves Policy and Future Plans, and the charity’s financial strategy. See Reserves Policy and Future Plans below.

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TRUSTEES’ ANNUAL REPORT (continued)

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OBJECTIVES, POLICIES AND ACTIVITIES (continued)

3. Social and Pastoral Care

The work of the sisters enables the Charity to encompass a broad range of activities that make a positive contribution to society (public benefit) and a positive difference to the lives of many who are in need, be it physically, emotionally, or spiritually. With much of the work now being undertaken by sisters as volunteers, the sisters are engaged alongside others in a variety of activities including:

To illustrate the ministries of our communities and of our individual sisters, some case studies are explained each year in the Trustees’ Report.

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OBJECTIVES, POLICIES AND ACTIVITIES (continued)

On the Isle of Wight

One sister lives and works with the people living on the Isle of Wight, off the coast near Portsmouth and Southampton. Although known by most people as a tourist destination, it is by no means all that happens on the island. Sister has been there for many years and is fully involved with island life:

“My biggest involvement is with the SACRE group which monitors the teaching of Religious Education across the Island. It is one of the Island's Council Commissions for education. We make sure that the law is kept and the R.E. and acts of collective worship are happening in all schools across the Island. This involves working with all the great world faiths, and so we have members in our group from all faiths. We can go into schools to have a look at what is happening there and observe acts of collective worship. There is no problem with Catholic and Anglican denominational schools as they have their own syllabus to which to adhere. For the State Schools we produce something called ' the agreed syllabus' and this has to be produced and monitored island wide. We take it in turns to do reflections for this group and we are invited to do the reflection for the Isle of Wight Council meeting. I was quite nervous when it was my turn to do the latter, but they were very supportive!

I also belong to a faith sharing group where we meet in each other's homes, study one of the books of the Bible and apply it to our lives. This group has helped a lot of people.

I am occasionally asked to do talks at the Christians' Together meetings, which occasionally leads to doing another at one of the Anglican parishes also.

We have a healthy group of LSU associates down here, known as 'the friends', and I do ongoing formation with them. This takes a fair bit of time and research, but it is always very uplifting and deep.

In my local Parish, I am a Minister of the Eucharist, but mostly I am one of the listeners. We have lots of people who need to be listened to, so I have a considerable phone ministry! I always make myself available if people need to talk. This would be one of my priorities. There is also some hospitality where people who are lonely are invited to an afternoon tea, which is always much appreciated.

I could go on, but these are the most important things that I do. Other things do crop up occasionally where one is asked to do this or that, but I think you might have enough here.”

Working with local people in North Wales

There are six sisters living and working in North Wales in three different locations. They try to meet up monthly as well as holding meetings by Zoom and speaking regularly on the telephone. Between them they have a variety of ministries working alongside and facilitating the work of local groups. They explain: “Here in North Wales Local Community every day we are aware of our responsibility to be peacemakers, to act justly and to respect and care for creation in all its forms.

Our ministry today is mostly being alongside, supporting others who are more active and able and encouraging those who are on the front line of action for the good of all humanity and the environment.”

Some examples are:

Prego : A network of Ignatian Prayer groups facilitated by St. Buenos Spirituality Centre. “We join with some of the groups in face-to-face prayer gatherings and on Zoom.”

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OBJECTIVES, POLICIES AND ACTIVITIES (continued)

Refugee Kindness aims to relieve poverty or financial hardship among refugees, asylum seekers and those of equivalent need and their dependents living in North Wales by providing goods and services which they could not otherwise afford, to enable them to participate fully in society.

“We provide space and hospitality to enable Refugee Kindness to carry out their work as well as a space for refugees to have conversations and to learn English. “

St. Vincent de Paul Society (SVP): an international voluntary organisation dedicated to tackling poverty and disadvantage by providing direct practical assistance to anyone in need, regardless of their faith, colour, race or status. The Society respects religious liberty and values all people.

“We work with the local SVP in helping to alleviate loneliness by visiting Nursing Homes, Hospitals and those who live alone. We help with the organisation of coffee mornings, film club, and outings. We provide winter packs for people who are homeless and give time to listen to those who live on the streets.”

Local Food Bank: is part of the Trussell Trust Network that provides emergency food nationwide. The Trust is shaped, rooted and guided by values of justice, community, dignity and compassion. “We support the local food bank by volunteering to sort food, raising funds and awareness which will help to create a fairer future for those in need.”

CAFOD – Catholic Fund for Overseas Development.

“We support our local group with donations, signing petitions and raising awareness.”

Cornerstone: This is a local organisation which supports members with a range of abilities and disabilities. It is a faith-based community embracing people of all faiths and none. Cornerstone is mindful of the rights to which we are all entitled as human beings, especially the right to life, to care, to a home, to education and work. Since the deepest need of a human being is to love and be loved each person has a right to friendship, to community and to a spiritual life.

“We support Cornerstone by our membership and involvement in many of the activities. We learn a lot from each other which enables us to grow in understanding.”

TCC - Together Creating Communities/ Trefnu Cymunedol Cymru

TCC cover the three counties of Wrexham, Denbighshire and Flintshire. Bringing communities together for powerful action on local, regional and national issues.

Based in one of our community houses we accommodate TCC by providing office space, rooms for meetings and a craft area for the young people they work with from the schools. This enables them to carry out their work.

Sharing our gifts and resources

Hospitality: Our homes are open and welcoming whether it be for longer or shorter stays. “We share resources with others e.g. magazines such as Resurgence, Guardian Weekly, Tablet as well as other interesting articles.”

Justice, Peace and Integrity of Creation

Peace and Justice and Integrity of Creation are a way of life, a process and not just an optional extra. It is how we relate, how we communicate, how we behave, how we think, how we are…. The world is broken and in need of healing. How hard it is to address that brokenness with a sense of time and hope and with the knowledge that others have walked the same paths before us.

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OBJECTIVES, POLICIES AND ACTIVITIES (continued)

Volunteering in East London

Another sister volunteers with one of the services funded by St Joseph’s Hospice, London. Called ‘Compassionate Neighbours’ its aim is to provide support to people who have life limiting illness and are experiencing loneliness or social isolation. This is done by:

Visiting regularly, building up a personal relationship by offering friendship, emotional support and a listening ear, helping people do the things they like doing, and helping them to stay connected to the community as well as family and friends.

Compassionate Neighbour volunteers participate in training to be able to empower confidence, to understand the hospice safeguarding, confidentiality and health and safety/risk policies, and to gain confidence in talking and discussing death, dying, grief and loss.

The volunteers have quarterly ‘Catch Up & Development Meetings’ at the hospice or on zoom - sharing experiences, specific training elements with occasional guest speakers.

Such visits can be traumatic, and to safeguard volunteers, feedback from visits may be brought back to the confidential meetings held monthly. Here they can share and discuss experiences and their own personal development. This can include one-to-one meetings with the support team.

Sister has been involved with three individual women, over her time as a volunteer. In that time, one has died, one has moved from the area but sister continues to keep in touch, and the third she meets regularly. In addition to visiting individuals, sister also participates in a ‘Hub’ – a gathering where can be as many as 20 come together for activities and refreshments.

As a member of the St Joseph Hospice family, Sister is also available for various fund-raising activities whenever there is a need.

On the 1st Friday of each month, she finds time to also attend Snaresbrook Court, East London, as a “Crown Court Chaplain”, available to those in need of support and solace.

Parish work and helping neighbours in Essex

Sister lives in a retirement complex where she is always at hand to help the other residents. One area she is called upon by 8 ‘regulars’ is to provide tech/computer assistance for residents who are having computer difficulties – emails, family Zoom meetings, and online services such as with health insurance claim documents, communications, recovering ‘lost’ documents etc. She also collects donations from residents for the Food Bank which she then delivers to the Trussell Trust for distribution.

In the local parish, Sister accompanies the parents of the children preparing for the sacraments of First Communion and Reconciliation in their parish church each year. Alongside this, sister is a regular visitor to the ‘community-with-care’ in south London, for LSU Sisters who are ill or frail elderly. For at least 2 – 3 days a week, sometimes more, she provides the much-needed service of driving them to health appointments, or taking to/from travelling, or taking sisters for outings. She keeps sisters informed of any recent news especially from other areas of the Congregation, by providing a link with sisters in other countries. She also prepares the religious services including those for the funerals when sisters die. This service includes setting up the online access to the funeral liturgies for LSU sisters who are unable to attend in person, and can include sisters from Tanzania, Cameroon, and Rome as well as nearer home in Ireland, England and Wales.

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TRUSTEES’ ANNUAL REPORT (continued)

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OBJECTIVES, POLICIES AND ACTIVITIES (continued)

La Sainte Union Schools in the UK

LSU UK CIO is Trustee of four secondary and one primary school, where the Congregation owns the lands and buildings. Whilst delegating the day-to-day management of each school to its Governors and Boards of Directors, the charity keeps in contact with the schools as much as possible. However, as the numbers of sisters in the charity continues to decline this is becoming more and more difficult to fulfil as the Sisters can no longer exercise the responsibilities of Trusteeship.

In 2023 LSU became a founding member of the Gaudete Trust, set up with 4 other Religious Congregations. Gaudete is a legally registered Charitable Incorporated Organisation (CIO) No 1202070.

Its mission is “to enable the rich heritage of Religious Orders to continue to enrich Catholic education when individual orders were no longer able to fulfil the responsibilities of Trusteeship.” Through this collaborative approach to trusteeship, the Gaudete Trust offers to all Religious Orders an alternative way of continuing to serve Catholic education.

Gaudete will take on the full “legal, financial and inspirational responsibilities of educational trusteeship,” and is gradually absorbing all the responsibilities of the Trusteeship of each school. The Charity has continued passing authority to Gaudete this past year. It has seen the new Trust take over the staff employment contracts and be involved in some interviews.

LSU schools continue to provide an excellent teaching, learning and supportive environment for all the pupils. Two of the schools have had inspections in the past year. From the Ofsted Report for one school, it states

“The school’s values of service, dignity, respect, academia, cooperation and excellence are embedded in the life of La Sainte Union. Pupils demonstrate kindness towards each other. Bullying is rare. The school has high expectations of pupils’ achievement. Pupils are keen to do well, and they are ambitious for their futures. Their successes are reflected in the outcomes they achieve at the end of Year 11. Pupils benefit from the wide extracurricular offered. They develop their interests through the range of clubs available, including football, drama and philosophy. Pupils enhance their leadership skills through a range of roles, for example, as school council representatives or as reading mentors. Pupils are well prepared for life in modern society.” Ofsted 2024.

Following the inspection on 3 and 4 December 2024, Ofsted graded the school 'good' in all five categories under the new framework.

In a report on a second school by the Catholic Schools Inspectorate the inspectors wrote:

“Staff, governors, and students are proud of their school and dedicated to improving this deeply caring community. The culture of continuous improvement permeates the school, with progress in religious education and the centrality of collective worship clearly in evidence.

One student said , “Catholic social teaching gives us all, whatever our faith or background, a set of beliefs we can all follow”. The commitment to social justice is excellent, reflected in charitable work and a natural responsiveness to reach out to help. A Muslim student described how her experience of the school has supported her own growth in faith and knowledge.

Staff witness to their faith in the mutual support they provide. One teacher said , “I have been supported by the school through bereavement and illness. Having worked at six other schools in my 30-year career, I can confidently say that nowhere else I have worked has cared so deeply about the wellbeing of its staff”. For another , “Pupils respond well to the practical integration of Catholic social teaching in lessons, and I have found it creates thinking that is compassionate and counter cultural. I have found that pupils are proud to be a pupil in a Catholic school and are invested in our LSU values.

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TRUSTEES’ ANNUAL REPORT (continued)

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OBJECTIVES, POLICIES AND ACTIVITIES (continued)

La Sainte Union Schools in the UK (continued)

Students, parents and staff are proud of their school, of its love and what makes the school distinctive. They all feel very fortunate to be at this school, and this is reflected in the number of former students returning to work here or electing to send their own children to the school. Here every student is known and loved.”

The school was rated overall as ‘Good’ by the Inspectorate.

Assistance with some unexpected building works.

As part of a planned building works programme, one of the LSU schools suddenly found they had unexpectedly to replace their two outdated mobile classrooms, which, upon inspection, were found to contain asbestos. They had been intending to use the mobiles to provide temporary space as classrooms were renovated. But an inspection discovered they were unsafe and had to be replaced. LSU as owners of the property and site, were able to contribute towards the replacement. A report from the school explains what happened:

Mobile Classrooms

“The two mobile classrooms have provided temporary classroom space for the duration of the building work. Once completed, and thanks to the kind donation of the Sisters, we have been able to purchase [the new ones] and long-term they will be used for:

 One sixth form learning resource centre – a modern space, air-conditioned and able to house space for silent work, with the ultimate aim to replicate the working conditions in modern universities, which encourage hybrid working spaces. The existing learning resource centre will be changed into a dividable classroom so that we can house different size teaching groups and ultimately, more classes in our Sixth Form Centre at once.”

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TRUSTEES’ ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2025

OBJECTIVES, POLICIES AND ACTIVITIES (continued)

Tanzania

Following a change in the structure of La Sainte Union, to take into consideration the changing circumstances and needs of sisters in different countries in which they are working, the Congregation is now structured into six ‘Areas’. The day-to-day financial support of Tanzania comes now from the main Congregation Fund, (a UK Registered Charity), but donations towards specific projects are still sent from the UK when given by friends and families of sisters who have worked there in the past. These go via the Congregation Fund and reports are sent back giving news of progress. There are now just two LSU sisters from Ireland who continue to work alongside their Tanzanian sisters in the country as sisters from the UK and Ireland have done for the past 50 years.

One such project this past year has been the building and opening of an Autism Unit at Matumaini, the centre for children needing physiotherapy for their physical disabilities. Sr Fides wrote:

“At Matumaini, children from three months to twelve years attend four days per week for physiotherapy. We had also children presenting with autism, but we couldn’t keep them because their needs were very different from the others. We realized we had much to learn before we could take on such a weighty challenge. The parents were disappointed and heartbroken.

The idea of opening an Autism Unit was encouraged by two Volunteers from Ireland, Helen and Agnes. They helped us to understand these children more and encouraged us to try to respond to their parents’ cry. As a result, we started to put our ideas into practice.

We thought we should try to help since there is no alternative help available to parents in this highly populated area. So, with no small difficulty we took the first step. We acquired a plot adjacent to the Centre, on which there was already a half-built good house which we could adapt and finish, providing a special unit for the children presenting with autism. The Leadership Team decided this would be our Golden Jubilee Project.

Figure 1 New Autism centre

We shared this idea with our sisters [abroad] and different donors both here in Tanzania and abroad. Not only that but also as sisters, we tried to fundraise through our small projects like designing T-shirts to sell with the Jubilee Logo for the same purpose. Almighty God blessed our efforts, and we managed to raise more than 130,000,000 Tanzanian Shillings equivalent to €50,500. We started the construction early in April. By the end of October 2024, 90% of the work was done. With the amount of money remaining, we have placed an order for some furniture.”

The new building was officially opened in December 2024.

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TRUSTEES’ ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2025

SAFEGUARDING REPORT 2024-2025

LSU continues its ongoing commitment to the One Church Policy on safeguarding. Displayed Safeguarding Policy statements have been updated to include contact details of “Safespaces”, noting support available to survivors.

The Religious Life Safeguarding Service (RLSS) continues to support Religious Life Groups in all safeguarding matters, training and the statutory Catholic Safeguarding Standards Agency (CSSA) audit and inspection process. LSU expect to receive the twelve-week notice period of audit and inspection visit at any time. The CSSA would review the evidence provided alongside their in-person visit and interview of key safeguarding personnel against their ‘maturity matrix grading scheme’; taking into consideration the extent to which the evidence demonstrates compliance, effectiveness and impact of practice in the eight safeguarding standards. The safeguarding inspection report would then be posted on the CSSA website alongside the inspection reports of other Religious Orders and Diocese.

A new LSU Safeguarding Team is under construction with a Trustee for Safeguarding to be appointed. The team will be reporting in the next financial year.

The cycle of visits to all the Area Communities in England and Wales, including Shalom Care home continue, delivered by the Safeguarding Lead. Yearly refresher safeguarding training and opportunities to discuss the Dignity and Respect in Care Homes document were well received by all.

Training

The Safeguarding Lead also attended the CSSA online workshop on the audit and inspection process and represented LSU at the RLSS AGM and annual Safeguarding Conference in March 2025. The LSU Safeguarding Manager in Ireland also attended, and both were able to take advantage of the networking opportunities and the variety of training on offer.

Members of the proposed Safeguarding team also attended the Medaille Trust Conference in October 2024 on “Confronting Modern Slavery”.

Disclosure and Barring Service checks.

All Sisters requiring a new DBS had their applications successfully processed. Sisters on the Update service receive annual email reminders for renewal and have contacted the Safeguarding Lead when needed. DBS clearance for current Community-with-care Care Staff is renewed every three years.

Future Plans include:

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TRUSTEES’ ANNUAL REPORT (continued)

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LOOKING FORWARD

The activities mentioned above are all continuing, whilst the charity is always looking at the potential changes which may need to be made going forward. As the number of sisters decline, more professional support is employed to support the charity and healthcare costs continue to increase. Trustees are aware of their responsibilities in ensuring the charity can fulfil its obligations and continue to provide public benefit.

School Trusteeship

One area of growing concern has been that of the future trusteeship of our schools in England and Wales.

Trustees are aware that the future Trusteeship of LSU schools has reached a critical point and have been working upon a way of ensuring the schools continue to flourish. The move to the Gaudete Trust (The Trust) has begun, with the Commissioning ceremony in July 2023 and the first Schools event in October 2023. School staff are now employed by the Trust with LSU acting as ‘agents’ until the Trust can take on all the responsibilities. One of the sisters is a Founding Member of the Trust and was on the Executive Committee. The process of transferring the schools to the Trust (CIO number 1202070) will continue into the near future when the Trust will ensure the continuance of each distinct ethos by providing the governance functions – inspirational, legal and financial responsibilities.

Updating the Charity’s Governance Structure

Trustees have made provision for the difficulty in fulfilling the responsibilities of Trusteeship by updating their civil and legal identity to enable the appointment of Trustees who are not members of the Congregation (i.e. not sisters). Registered by the Charity Commission 18th August 2022, the CIO was dormant until 1st September 2023 when it took over from the old charitable Trust. The financial year 2024-25 has therefore been the first full year of the new CIO charity.

Despite hoping to have everything transferred into the CIO, including all property and bank accounts, there is still work to be completed. Our thanks go to the team at the Charities department of the new bank for their continuing hard work. The other area still incomplete is that of receiving the schools into the CIO; permission from the Department for Education is still outstanding.

Planning financially for future healthcare needs.

Trustees take professional advice from their investment fund manager and other financial advisers regarding the level of investments required to ensure the long-term support of the sisters can be met (see reserves policy), whilst still bringing public benefit to others. At Trustee meetings updates are given on current needs and major expenditures.

The AH Area has a moral and legal obligation to care for the sisters, all who have taken a vow of poverty and have no resources of their own. The costs of providing healthcare are similar to those for the majority of people in the UK and are a major area of expenditure for the charity. Each year Trustees receive a projected budget plan for the Charity for the major areas of expenditure that will need funds. The healthcare needs form a large part of this budget.

Governance

Trustees review polices and update when necessary. One such updating was that for the Financial Controls Policy. After discussion a section on Cyber Security has been added. Policies due to be reviewed are the Risk Policy, Data Protection and Conflict of Interest.

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TRUSTEES’ ANNUAL REPORT (continued)

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Overseas work

Ireland

The AH Area also has responsibility for the sisters living in Ireland, who again have no resources of their own and are dependent upon the Congregation. It is through the Charity that they are financially supported, thus enabling the LSU Ireland charity to provide public benefit for the people of Ireland where sisters work. This includes the provision for the future of LSU’s school in Ireland. The activities of the sisters do not form part of the work of the Charity itself. During the year, £287k (2024: £132k) was transferred for the Province’s Irish activities.

Tanzania

When Tanzania became a separate area of the Congregation, responsibility for their financial needs was taken up by the Congregation International Fund, the LSU’s UK registered charity the Archange Lebrun Trust (registered charity 1094977). The CIO will continue to support educational projects through donations from sisters, families and friends sent via the ALT charity.

Other overseas areas of the Congregation

In addition, a contribution of £485k (2024: £119k) was made to the Congregational Fund which is managed by the Archange Lebrun Trust (ALT) on behalf of the Congregation. Set up in 2014, after an International meeting, the Annual Contribution is the means by which each area that can afford it, donate towards the needs of those sisters and their ministries in countries unable to fully fund themselves. Following a formula agreed with the financial advisers of each area, these funds are transferred to the ALT which then responds to requests for additional money to enable the sisters to work alongside people who have very little through education and healthcare. Reports are always requested to show how that money has been spent.

FUTURE PLANS

The long-term strategy of the charity remains largely unchanged – to serve its charitable purposes that advance the religious and other charitable work through a wide range of charitable activities. Key plans are:

Plans for the short to mid-term include:

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CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

TRUSTEES’ ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2025

FUTURE PLANS (continued)

RISK MANAGEMENT

The Trustees have considered the major risks to which the Charity is exposed They have created a risk management database to manage any major risks to the charity as well as looking at mitigations in place. Every effort is being made to mitigate those risks which are prioritised and evaluated. The key areas of risk for the charity, as identified by the Trustees, are listed below,

Operational

Governance and Management

Finance

Compliance

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CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW

The accounts, which follow, comply with current statutory requirements and the Charity’s governing documents.

The majority of Sisters have given most of their working lives to the charitable activities of the Congregation. When the members work outside the Charity, any earnings are covenanted to the Charity. There have been no new vocations in the UK for some years and therefore the average age of the members is rising. Members, although taking up important charitable work, tend either to work within the Charity or, if working outside, in the voluntary sector which is generally less well remunerated. These factors mean that there is a long-term downward trend in the income generated by members. The Charity has a commitment to continue to support members of the Province, many of whom continue to carry out charitable work long past the normal retirement age.

In the year to 31 March 2025, income at £1.86m was higher than in the previous year in which the total was £1.77m. However, the sums received in the form of donated sisters’ pensions decreased, and it is expected that with an ageing group of sisters this will continue to decline in the long term. Investment income also fell, albeit marginally. This reduction was offset by the surplus on disposal of tangible fixed assets, most of which related to the sale of a property in Bournemouth.

Total expenditure decreased significantly to £2.66m from £3.75m in 2023-24. Costs of the Support of Members of the Congregation and Their Ministry was £1.58m compared to last year’s £1.46m. However, Charitable Grants, were considerably lower at £975k compared to £2.19m in the previous year. Grants to the Overseas Work of the Congregation were higher at £807.1k (2024: £392.9k). However, in 2024-25 grants made to third-party educational charities consisted of just under £168k made to St Anne’s School. Last year included this included; £1.5m to the Gaudete Trust and £300k to St Anne’s School.

The result was that the year saw net expenditure, before gains and losses on investments, of £799.5k (2024: 1.98m). After the strong recovery in investment gains in the previous year, there was another gain in investment markets with gains of £363.9k (2024: £1.62m). The overall result was net expenditure of £435.6k (2024: £357.6k).

INVESTMENT POLICY AND PERFORMANCE

The portfolio is managed by Brewin Dolphin under a discretionary investment management agreement. Brewin in also acts as a nominee for the investments of the Charity. The Trustees meet with the fund managers at least three times a year and ensure that the fund is managed in accordance with their guidelines and with the religious and ethical principles of the Province. The target for the fund managers is to achieve a certain return of both income and capital growth with no more than a moderate level of risk.

The Trustees have appointed Brewin Dolphin to manage the portfolio subject to a medium degree of risk. The Trustees intend that the real value of the assets be maintained and enhanced over the long term by investment in a portfolio of equities, fixed income stocks and cash. The Trustees have instructed the fund manager to adopt an ethical policy consistent with the teachings of the Roman Catholic church and use their best endeavours to avoid investment in companies that are predominately involved in the production of armaments or tobacco products. The fund manager’s performance is regularly reviewed by the Trustees.

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TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2025

INVESTMENT POLICY AND PERFORMANCE (continued)

During the year to 31 March 2025 the total return of the Charity’s portfolio amounted to +4.2% (2024: +10.0%). This was a little below the benchmark which is employed (and which comprises a spread between Fixed Interest stocks, UK and overseas equities and property funds), but marginally better than the averages quoted for investments by the charity sector as a whole. The Trustees are therefore satisfied with the returns generated but will continue with their relatively cautious stance.

The Trustees feel that there are a good many adverse risk factors in financial markets; some are economic, such as the recent significant rise in the rate of inflation, but many stem from global and local political uncertainties which are likely to have a negative impact on the returns generated. They will therefore continue to hold relatively high levels of cash and adopt a cautious investment policy.

RESERVES POLICY

At the end of the year to 31 March 2025 the total funds of the Charity had fallen to £28.68m from £29.12m in the previous year.

Of the total £3.7m is represented by fixed assets, needed for the ongoing work of the Charity. £23m is designated to provide for the long-term support of older members of the Area. The need to make provision for the long-term care of sisters in sickness and old age is explained above in the section of this report dealing with Policy and Healthcare. Also as noted above, the charity is a trustee of five Voluntary Aided and Academy Schools. The Trustees are committed to providing long-term support to these schools and last year paid a sum of £1.5m in respect of this commitment.

The Trustees are mindful of the fact that although the year has seen another rise in investment values, investment income has been adversely affected by a decline in values in recent years. With inflation rising, they expect real (or inflation-adjusted) returns to remain low for another year or two, at least. The fluctuations seen in investment values over the last few years and the declines in investment income emphasise the need for caution in planning and maintaining reserves levels.

Full details of the designations are given in the notes to the financial statements. The Trustees commissioned a professional review of the age profile of sisters within the Province and the likely cost of providing for their care. It was recommended that as a minimum, the Trustees should set aside a sum of £27m compared to the £23m that has been designated. The level of funds will be kept under review and additions to, or withdrawals from, the funds will be made as circumstance permit or as needs change.

The balance of £1.9m held in the general fund, or “free reserves”, represents approximately sixteen months’ normal expenditure. In addition to providing working capital for the on-going activities of the Charity these free reserves are required as cover for the long-term commitment of the Charity to maintaining its properties which are an essential element of it fulfilling its charitable aims. Many of these properties are very old and/or large and are maintained in a good state of repair.

The Trustees’ target range is to hold approximately one to two years’ expenditure in reserve. The actual level is therefore within this range. The Trustees, as stated above, continue to monitor closely the levels of all its reserves.

The Trustees consider that the current levels of reserves provide sufficient flexibility to cover temporary shortfalls in income and will enable the charity to deal with and respond to unforeseen emergencies.

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TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2025

STATEMENT OF TRUSTEES RESPONSIBILITIES

The Trustees of the Charity are required to prepare for each financial year accounts which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the Charity and to enable them to ensure that the financial statements comply with statutory requirements and with the Constitution registered 18 August 2022. 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.

The Trustees are responsible for the maintenance and integrity of the charity and finance information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.

Approved by the Trustees on 10 December 2025 and signed as authorised on their behalf by:

Pat Trussell TRUSTEE

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INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

Opinion

We have audited the financial statements of Congregation of la Sainte union des Sacres Coeurs UK CIO for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 19, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to compliance with Charity Law, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Canon Law, the Charities Act 2011,the Statement of Recommended Practice for Charities (SORP) and FRS102.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to management bias in certain accounting estimates. Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s trustees as a body for our audit work, for this report, or for the opinions we have formed.

HaysMac LLP Statutory Auditors 10 Queen Street Place London EC4R 4AG

Date: 22 December 2025

HaysMac LLP is eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006.

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CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2025

Total Total
31 March 2025 31 March 2024
Notes £ £
INCOME from
Donations and legacies 1 1,068,185 1,106,771
Investments 2 649,436 658,708
Other
- Surplus on disposal of tangible fixed assets 3 139,680 -
-------------------------- --------------------------
Total Income 1,857,301 1,765,479
-------------------------- --------------------------
EXPENDITURE on
Cost of raising funds
Investment Management fees 100,551 94,342
Charitable activities
- Support of members of the Congregation and their ministry 4 1,581,412 1,458,550
- Charitable grants 5 974,834 2,192,869
----------------------- -----------------------
Total expenditure 2,656,797 3,745,761
----------------------- -----------------------
Net (expenditure) before gains/(losses) on investments (799,496) (1,980,282)
Other recognised gains and losses
Net gains/(losses) on investments 363,888 1,622,721
----------------------- -----------------------
Net income and net movement in funds for the year (435,608) (357,561)
Fund balances brought forward at beginning of year 29,118,929 29,476,490
---------------------- ----------------------
Total funds carried forward at end of year £28,683,321 £ 29,118,929
============= =============

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

All funds are unrestricted funds.

Designated funds are shown in note 15.

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CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

BALANCE SHEET

AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible fixed assets 11 3,749,594 3,723,478
Investments 12 23,968,370 23,947,013
--------------------- ---------------------
27,717,964 27,670,491
CURRENT ASSETS
Debtors 13 63,094 79,285
Cash 1,556,466 1,559,775
-------------------- --------------------
1,619,560 1,639,060
CREDITORS:Amounts falling
due within one year 14 (654,203) (190,622)
-------------------- --------------------
NET CURRENT ASSETS 965,357 1,448,438
----------------------- -----------------------
NET ASSETS £28,683,321 £29,118,929
=========== ===========
ACCUMULATED FUNDS
Unrestricted funds
General Fund 1,933,727 2,395,451
Designated 15 26,749,594 26,723,478
----------------------- -----------------------
£28,683,321 £29,118,929
=========== ===========

Approved by the trustees and signed on their behalf by:

Approved by the Council of Trustees on 10 December 2025 and signed on its behalf by

Pat Trussell TRUSTEE

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CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
Notes
£		 £
Cash flows from Operating Activities
Net cash outflow from operating activities A (1,042,137) (2,594,933)
---------------------- ----------------------
Cash flows from investing activities
Dividends and interest from investments 649,436 658,708
Payments to acquire fixed assets (229,236) -
Receipts from sales of fixed assets 276,097 -
Payments to acquire investments (7,177,636) (6,497,338)
Receipts from sales of investments 7,520,167 6,588,147
----------------------- -----------------------
Net cash provided by/(used in) investing activities 1,038,828 749,517
----------------------- -----------------------
Change in cash and cash equivalents in year C (3,309) (1,845,416)
Cash and cash equivalents at 1 April 2024 B 1,559,775 3,405,191
----------------------- -----------------------
Cash and cash equivalents at 31 March 2025 B £1,556,466 £1,559,775
=========== ===========
Notes to the Cash Flow Statement
A. Reconciliation of net movement in funds to net cash flow from operating activities
2025 2024
£ £
Net movement in funds (as per the Statement of Financial Activities) (435,608) (357,561)
Adjustments for
(Gains)/losses on investments (363,888) (1,622,721)
(Surplus) on disposal of fixed assets (139,680) -
Dividends and interest from investments (649,436) (658,708)
Depreciation 72,168 70,473
(Increase) in debtors 16,191 (10,358)
Increase/(Decrease) in creditors 458,116 (16,058)
---------------------- ----------------------
Net cash (used in) operating activities (1,042,137) (2,594,933)
=========== ===========
B. Analysis of cash and cash equivalents
Cash at bank and in hand £1,556,466 £1,559,775
=========== ===========
C. Analysis of changes in net cash funds
At 1 April At 31March
2024 Cashflows 2025
£ £ £
Cash at bank and in hand 1,559,775 (3,309) 1,556,466
---------------------- ---------------------- ----------------------
Total cash and cash equivalents £1,559,775 £(3,309) £1,556,466
=========== =========== ===========

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CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

PRINCIPAL ACCOUNTING POLICIES

FOR THE YEAR ENDED 31 MARCH 2025

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

Statement of compliance

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. The departure has involved following Accounting and Reporting by Charities (SORP FRS 102) rather than SORP effective from 1 April 2005 which has since been withdrawn”.

The charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The accounts are presented in sterling and are rounded to the nearest pound.

General information

The charity is registered in England and Wales (charity number: 1200125). The charity’s registered office is shown on page 1.

Critical accounting estimates and areas of judgement

Preparation of the accounts requires the Trustees to make significant judgements and estimates. The items in the accounts where these judgements and estimates have been made include:

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 one year from the date of approval of these accounts.

The Trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. The most significant areas of judgement that affect items in the accounts are detailed above. With regard to the next accounting period, the year ending 31 March 2026, the most significant areas that affect the carrying value of the assets held by the charity are the level of investment return and the performance of the investment markets.

The Trustees have estimated the impact on their finances and they are confident that not only will the charity be able to meet all its liabilities and commitments for at least one year, it will also have sufficient cash reserves to enable it maintain its investment portfolio intact until at least the end of March 2026.

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CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

PRINCIPAL ACCOUNTING POLICIES

FOR THE YEAR ENDED 31 MARCH 2025

Income recognition

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust 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 and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

In accordance with the Charities SORP FRS102, volunteer time is not recognised.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Interest on funds held on deposit 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.

Expenditure recognition and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Charitable grants and donations are made where the Trustees consider there is real need following a review of the details of each particular case and comprise single year payments rather than multi-year grants. Grants and donations are included in the statement of financial activities when approved for payment. A provision is made for grants and donations approved but unpaid at the period end.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Allocation of support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of personnel development, financial procedures, provision of office services and equipment and a suitable working environment. Support costs are allocated to activities on the basis of estimated usage and are currently entirely allocated to Support of Members of the Congregation and their ministry.

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CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

PRINCIPAL ACCOUNTING POLICIES (continued)

FOR THE YEAR ENDED 31 MARCH 2025

Tangible fixed assets

Individual fixed assets costing £2,500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight-line basis as follows:

Annual rate
Freehold land Nil
Freehold buildings 2%
Fixtures, fittings and equipment 20%
Motor vehicles 25%

No depreciation is charged on Fixed Assets under the course of construction until they are brought into use.

Financial Instruments

The charity only holds financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Investments

Investments held for the long-term to generate income or capital growth are carried at fair value as fixed assets.

Realised gains are the difference between sales proceeds and the carrying value of the investment. The carrying value is the fair value at the beginning of the year or the purchase cost where the investment was acquired during the year.

Unrealised gains are the change in value of investments after taking into account any movements in investment holdings such as purchases and disposals of investments.

Realised and unrealised gains are accounted for within the Statement of Financial Activities.

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Deposits for more than three months and up to one year have been disclosed as short-term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

PRINCIPAL ACCOUNTING POLICIES (continued)

FOR THE YEAR ENDED 31 MARCH 2025

Services provided by members of the Congregation

For the purposes of these accounts, no value has been placed on administrative and other services provided by the members of the Congregation.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling 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.

Funds

General funds comprise the accumulated surplus or deficit from the Statement of Financial Activities which is not restricted nor designated funds. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

Designated funds comprise funds that have been set aside at the discretion of the Trustees for specific purposes. The purpose and use of the designated unrestricted funds are set out in the notes to the accounts.

Restricted income funds comprise unexpended balances of donations and grants held in trust to be applied for specific purposes.

Employee benefits

Employment benefits, including holiday pay, are recognised in the period in which they are earned. Termination benefits are recognised in the period in which the decision is made and communicated to the relevant employee(s).

Pension contributions

Contributions in respect of the charity’s defined contribution pension scheme are charged to the statement of financial activities when they are payable to the scheme. No charity contributions were paid during the period. And there were no outstanding contributions at the period-end. The charity has no liability beyond making its contributions and paying across the deductions for the employees’ contributions.

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NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. DONATIONS AND LEGACIES 2025 2024
£ £
Sisters' salaries and pensions 1,035,165 1,041,140
Legacies 17,500 39,497
Other donations 15,520 26,134
-------------------- --------------------
£1,068,185 £1,106,771
========== ==========
2. INVESTMENT INCOME 2025 2024
£ £
Income from listed securities and cash held by Brokers 619,788 613,248
Bank and other interest 29,648 45,460
------------------ ------------------
£649,436 £658,708
========== ==========
3. SURPLUS ON DISPOSAL OF TANGIBLE FIXED ASSETS
Motor Total Total
Properties vehicles 2025 2024
£ £ £ £
Proceeds from sales 273,000 15,697 288,697 -
Disposal costs (12,600) - (12,600) -
---------------------- ---------------------- ---------------------- ----------------------
260,400 15,697 276,097 -
Net book value (136,416) (1)
(136,417)		 -
---------------------- ---------------------- ---------------------- ----------------------
£123,984 £15,696 £139,680 £-
=========== =========== ========= ===========
4. EXPENDITURE ON CHARITABLE ACTIVITIES 2025 2024
£ £
Support of members of the Congregation and their ministry
Sisters' living & personal expenses & ministry costs 285,633 296,311
Education, training, retreats & holidays 31,178 37,973
Premises costs 318,352 298,389
Medical 19,985 19,065
Staff costs 597,026 511,898
Depreciation 72,168 70,473
Support costs (see below) 189,366 170,562
Alms & donations 18,304 20,919
Governance costs (note 5) 49,400 32,960
-------------------- --------------------
£1,581,412 £1,458,550
========== ==========

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CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

4. EXPENDITURE ON CHARITABLE ACTIVITIES (continued)

2025 2024
£ £
Support Costs
Insurance 87,302 78,848
Legal & Professional fees 55,251 60,565
Travel 6,205 2,175
Postage, stationery, telephone and office equipment 9,943 11,218
Funerals 15,235 1,118
Miscellaneous expenses - (1,567)
Safeguarding 8,202 12,140
Bank charges 3,304 4,004
Trustees' expenses 3,924 2,061
---------------------- ----------------------
£189,366 £170,562
=========== ===========
5. CHARITABLE GRANTS 2025 2024
£ £
Overseas work of the Congregation in:
Ireland 287,155 131,647
Tanzania - 128,275
Haiti - 1,012
Archange Le Brun Trust for the general purposes of the
Congregation worldwide 519,929 131,935
Gloir - -
---------------------- ----------------------
807,084 392,869
Grants to charities in England and Wales - Education
Gaudete Trust - 1,500,000
St Anne's School 167,750 300,000
---------------------- ----------------------
£974,834 £2,192,869
=========== ===========
6. GOVERNANCE COSTS 2025 2024
£ £
Auditors remuneration
Audit fee - Current year 19,500 18,380
Under-provision for prior years 11,200 1,980
Over-provision for current year 4,000 -
-------------------- --------------------
34,700 20,360
Other professional fees 14,700 12,600
-------------------- --------------------
£49,400 £32,960
========== ==========

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CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

7. NET MOVEMENT IN FUNDS 2025 2024
£ £
This is stated after charging:
Staff costs (note 8) 597,026 511,898
Auditors remuneration
- Statutory audit services:
Audit fee - Current year 19,500 18,380
Under-provision for prior years 11,200 1,980
Over-provision for current year 4,000 -
-------------------- --------------------
34,700 20,360
Depreciation 72,168 70,473
=========== ===========

8. STAFF COSTS AND REMUNERATION OF KEY PERSONNEL

Staff costs are minor as the activities of the Charity are conducted by Sisters of the Society who receive no remuneration.

Expenditure on charitable activities includes Domestic wages as follows:

Expenditure on charitable activities includes Domestic wages as follows:
2025 2024
£ £
Amended
Wages and salaries 540,716 471,618
Social security costs 32,032 21,085
Other pension costs 24,278 19,195
---------------------- ----------------------
£597,026 £511,898
=========== ===========
No No
Domestic and Care staff 32 32
Management and administration of the charity 3 3
---------------------- ----------------------
The average number of employees in the year was: 35 35
=========== ===========

The number of employees whose emoluments exceeded £60,000 was nil (2024: nil)

The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis solely comprises the Trustees.

The total remuneration of (including taxable benefits) of the key management personnel was nil (2024: nil)

9. RELATED PARTY TRANSACTIONS, TRUSTEES' EXPENSES & REMUNERATION AND TRANSACTIONS WITH TRUSTEES

There were no related party transaction during the year (2024: None).

The Trustees of the Charity are also members of the Congregation and as such have taken vows of poverty under which they have renounced all personal rights to income and capital. The Charity provides for the essential needs of all members of the Congregation within the Province.

The living costs of the Trustees are therefore borne by the Charity.

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CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

10. TAXATION

The Anglo-Hibernian Province of the Congregation of La Sainte Union Des Sacres Coeurs is a registered charity and therefore is not liable to Income Tax or Capital Gains Tax on income or gains derived from its charitable activities as it falls with the various exemptions available to registered charities.

11. TANGIBLE FIXED ASSETS

Freehold Fixtures,
Land & Fittings & Motor
buildings Equipment Vehicles Total
£ £ £ £
COST OR VALUATION
As at 1 April 2024 4,736,429 30,993 132,816 4,900,238
Additions 218,627 - 16,074 234,701
Disposals (178,400) - (32,960) (211,360)
---------------------- ---------------------- ---------------------- ----------------------
At 31 March 2025 4,776,656 30,993 115,930 4,923,579
---------------------- ---------------------- ---------------------- ----------------------
DEPRECIATION
As at 1 April 2024 1,012,957 30,993 132,810 1,176,760
Charge for year 68,149 - 4,019 72,168
On Disposal (41,984) - (32,959) (74,943)
---------------------- ---------------------- ---------------------- ----------------------
At 31 March 2025 1,039,122 30,993 103,870 1,173,985
---------------------- ---------------------- ---------------------- ----------------------
NET BOOK VALUE
At 31 March 2025 £3,737,534 £- £12,060 £3,749,594
============ ============ ============ ============
At 31 March 2024 £3,723,472 £- £6 £3,723,478
============ ============ ============ ============

Apart from a small proportion used for administrative purposes, all the above assets are used in direct furtherance of the Charity’s objects.

There are also school properties registered in the names of the Trustees. As explained in the Accounting Policies note, the Trustees consider their ownership to be in the nature of a custodianship of the assets and the assets have therefore not been capitalised. The properties have an approximate insurance value of £36m.

These schools were formerly run by the Charity but are now maintained by Education Authorities.

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CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

12. INVESTMENTS

INVESTMENTS
Total Total
2025 2024
£ £ £ £
Quoted investments
At 1 April 2024 23,947,013 22,415,101
Additions 7,177,636 6,497,338
Disposals
Proceeds (7,520,167) (6,588,147)
(Losses)/Gains/ by reference to
opening market value 85,305 (10,316)
---------------------- ----------------------
(7,434,862) (6,598,463)
Unrealised (losses)/gains 278,583 1,633,037
---------------------- ----------------------
Total investments £23,968,370 £23,947,013
=========== ===========
Historical cost of quoted investments
At 31 March 2025 £21,416,186 £20,582,361
=========== ===========
Analysis of quoted investments
UK Fixed interest stocks 4,078,239 4,066,106
UK Equities 3,981,605 5,117,315
Overseas Equities 11,350,396 11,136,686
Overseas investments 2,445,379 2,135,419
Property Funds 687,384 686,300
Commodities 540,279 287,104
Cash Product 739,820 288,440
Cash on deposit 145,268 229,643
---------------------- ----------------------
£23,968,370 £23,947,013
=========== ===========

33

CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

13. DEBTORS 2025 2024
£ £
Prepayments and accrued income 63,094 64,808
Other debtors - 14,477
------------------ ------------------
Prepayments and accrued income £63,094 £79,285
========== ==========
14. CREDITORS: AMOUNTS FALLING DUE WITHIN 2025 2024
ONE YEAR £ £
Accrued expenses 635,189 178,224
Taxation & Social Security 9,729 7,416
Retention for building works 5,465 -
Held for Third Parties 3,820 4,982
------------------ ------------------
£654,203 £190,622
========== ==========

15. DESIGNATED FUNDS

Retirement Fund

A fund has been designated in respect of the Charity’s commitment to provide for the retirement and care in old age and sickness of the Congregation’s members. A review of the Congregation’s membership has indicated that a fund of at least £23m is required to finance fully the Charity’s commitment to provide care for its elderly members after taking account of their occupational pension rights.

Schools Development fund

The charity is a trustee of five Voluntary Aided and Academy Schools. The Trustees are committed to providing long-term support to these schools and in 2024, £1.5m was spent in respect of this commitment.

Fixed Assets Fund

The Charity has a number of properties and other fixed assets which are used to fulfil its charitable objectives. These assets although they are unrestricted, cannot be realised without undermining the Charity’s work and reflect the investment in assets held to further the charitable work undertaken. Depreciation is charged against the Fund and transfers are made to reflect the net investment/dis-investment in Fixed Assets.

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CONGREGATION OF LA SAINTE UNION DES SACRES COEURS UK CIO

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2025

15. DESIGNATED FUNDS (continued)

Movement in the Year Movement in the Year Balance Balance
at beginning Net Income at end
of year and Gains Transfers of year
Year ended 31 March 2025 £ £ £ £
Retirement fund 23,000,000 - - 23,000,000
Schools Development Fund - - - -
Fixed assets fund 3,723,478 (72,168) 98,284 3,749,594
----------------------- -------------------- ----------------------- -----------------------
£26,723,478 £(72,168) £98,284 £26,749,594
=========== ========== =========== ===========
Year ended 31 March 2024
Retirement fund 23,000,000 - - 23,000,000
Schools Development Fund 1,500,000 (1,500,000) - -
----------------------- -------------------- ----------------------- -----------------------
24,500,000 (1,500,000) - 23,000,000
Fixed assets fund 3,793,951 (70,473) - 3,723,478
----------------------- -------------------- ----------------------- -----------------------
£28,293,951 £(1,570,473) £- £26,723,478
=========== ========== =========== ===========
16. ANALYSIS OF NET ASSETS Net Current
BETWEEN FUNDS Tangible Assets/
Fixed Assets
Investments		 (Liabilities)
Total
£ £ £ £
Year ended 31 March 2025
Designated funds:
Retirement fund - 23,968,370 (968,370)
23,000,000
Schools Development Fund - - - -
Fixed assets fund 3,749,594 - - 3,749,594
--------------------- ------------------------
-----------------------		 ----------------------
3,749,594 23,968,370 (968,370)
26,749,594
Unrestricted funds - - 1,933,727 1,933,727
---------------------- --------------------------
------------------------		 ----------------------
£3,749,594 £23,968,370 £965,357 £28,683,321
=========== =============
============		 ===========
Year ended 31 March 2024
Designated funds:
Retirement fund - 23,947,013 (947,013)
23,000,000
Schools Development Fund - - - -
Fixed assets fund 3,723,478 - - 3,723,478
--------------------- ------------------------
-----------------------		 ----------------------
3,723,478 23,947,013 (947,013)
26,723,478
Unrestricted funds - - 2,395,451 2,395,451
---------------------- --------------------------
------------------------		 ----------------------
£3,723,478 £23,947,013 £1,448,438 £29,118,929
=========== =============
============		 ===========

35