2023-06-30-accounts

REGISTERED CHARITY NUMBER: 21S011 Report olth* Trustees and Flnancial Ststements forthe Year Ended 30 June 2023 for Sacred Hoart Fat￿[$ Trust SB&P Chartered Accountants & Statutory Auditors Oriel House 218 Oriel Road Boolle MètsÈyside L20 7EP

Sacred Heart Fathers Trust Cont¥nts of the Flnanclal Statsments for the Y•ar Enfled 30 June 2023 Page Report ofthè Trust 1 to 7 Report ofthe Independent AudltOFS 8 to 10 ststement of Financlal Aetlvlllè$ Bal4nce Sheet 12 Cash Flow Ststsmènt 13 Notes to thè Cash Flowstatement 14 Notes to the Flnanclal Statements 15 to 24

Sacred Heart Fathers Trust Report of the Trustees for the Year Ended 30 June 2023 The trustees p￿sent tt)&r ￿pOrt wrth the ffnaTKi81 slaternents ol the charity for the year ended 30 June 2￿. The trustees have adopted the provIs￿n3 ol Accounting and Reporting by Charits"es". Statsrnent of Recommended Practics applicable to charities prepariNJ their accounts In accordan￿ wth the Finawial Reporb"ng Stsndard appliCa￿e in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The principal objective ollhe ¢harity is the acfvancemenl of religion. This includes". The pastoral care of individuals and groups. To promde pla￿$ ol spiritual retrèa( courses in personal (lgvelopment and religious educAlion Assistan￿ wth the owoing education ol children and young adu The relief of povety and sicknèss al home and abroad. To assist in the rdiel of povety and its cOnsequen￿S in a￿3$ of mission of the Congregation and in areas of natural disasters. Welcoming studènts from poorer countrie5 to study at aC￿edited eduG4ts"on81 facilities in the UK and I￿rand. Welcoming sludents to study al recognised English language schools to ena￿e thtr international devdopment of the Congregation. Providing places of retreat open to all. fe- long care for Ihe members. To promote the spiritval. moral, and intellectual wellbeing of the Member5 01 the Congregation. To provide &0rwces and nursing care for the sick and elder￿ MeM￿r5 of the cc￿ gregats'on in accordan￿ wlh the core values and ethos of the Congregation. Page 1

Sacred Heart Fathers Trust Report ofthè Tru$ts¥s for the Year Ended 30 Jun• 2023 ACHIEVEMENT ANO PERFORMANCE Charitable activities The main object for which the charity is established is to advance religh)n through the educationd. soaal and chaiitab18 works carried on by the Congregation ol The Priests ol tre S8cred Heart of Jesus in England and Wale5. Swtland, Ireland and Ihroughout the World in aC￿rdan￿ with the ethos, mission and philosophy of Father Leo Jo Dehon and to provide lor Members ol the cong￿98t[On during their lives. The Sacred Heart Fathers continue lo offer support for students. 8dult5. retreats, quiet times, spiritU81 direction a accompanirnenl for individuals and groups in various Socations throughout Great Britain arKI Ireland. ey its very nature the Congregation 15 an awslolic ir￿ll￿te., and so we readily plaTr ourselves at thè sewice of the Church in Its varfous pastoral works. The chaiity provides farililies where Indimduals and groups can gather for penods of prayer, silen and recollection. It also promdes for the rdigious needs ol paople by providing rdtgious $em￿S and offerir¥J $piritual guidance. The administrative Cèntre for the group is at St John'5. Slockp)rt, where, as wsll as offi￿5 for Provin Administration, provision Is mad¢ for older members, assisted by the servI￿S ol the St John of God Hospitaller Se[vi￿. The Sacred Heart Fathers Mlnesse5 to the Christian faith In both the loc& and wder community through the provision ol worship and prayer spa￿. While St John's is the adminislralive ￿ntrt and a residen￿ for the elderly, the facilit￿S ol the house are aso used to enable people lo participate in liturgies and gathenngs for prayer. Courses on faith devdopmenl are offered and groups are able to attend for day retreats or day5 01 recollection. At St John's, the Sacred Heart Fathers also provide for the human development ol people by promding courses on psychology and spirrtuality. A counselling service is J50 provided there. visth.ng mernbers of the Congregath)n from abroad are also welcomèd * St John's. Mernbers come for meetings of the sac￿ Heart Fathers and have the possibTlty to spend scmne time ol Sabbat￿al there. St John's is also the setting for tre Promots'ons offi￿ - Ihe ftjnction ol which is to proTh)te the spirituality of the Sacred Heart and lo keep in contact wth benefadors. Various mailings are sènt out during the year to benefactois during the year. A letter is written at least fv￿ce a year informing benefactors ol re￿nt news and events and invit'ng them to make a contribution to the wtsrk of the Sacred Heart Fathers. It is notable that the age ol benefaGtors is increasing and consequently there are less people on the m8iling list. The trustees wll look 81 ways to expand our list of benefactors. The Sacred Heart Fathers greatly value their benefadors and their generous contributl0ll5 In September 2022 the Sacred Heart Fathers handed the administration ol the parish of St Joseph'5. StockporL back to the Di￿eSe of Shrewsbury. The Di0￿$an Bishop wanted to develop a new ministry for his DI0￿Se the￿. cur￿n￿Y, the Order administers the parish of St John Vianney on behalf ol the Archd10￿Se of Dublin In the pastoral care ol Ih05e entrusted to us we aim to give concrete expression to our $piriluality and develop the life of the Church. In the pansh thè Sa¢xed Heart Fathers minister to peO￿e ol all age group5 providing religious servi￿, pastoral accornpaniment and ena￿Ing people to participale in Iilurgitrs. Vvhere possible, the Sacred Heart Fathers assist in ott)èr parishes in England and Wales, Scottand and Ireland. The Saued Heart Fathers are committed lo provide support and assistan￿ in the safeguarding ol children and vulnerable adult5 The Trust implements be51 practice in safeguarding, ènsuring that children and vulnerable adults are sale and wdl looked after while in the care of any ministy of the Congregation. The Charity is commitied to best practi￿ in safeguarding. 11 is affiliated to the national Religious Life Safeguarding servi￿ In England and Wale3, the N*"on81 Bowd for Safeguarding Children in the Catholic Church in Ireland and The Scotb'sh Catholic Safeguarding Standards Agency. Jt also has the serVi￿S of a safeguarding co-ordinator and has a designated liaison person. rnernbers coming from abroad lo engage in any public tninistry rnust prowde a testimony of syltsbility. agree to poli vetb.ng and cornply with all safeguarding policies and procedures. The Sacred Heart Fathers are committed to properfy resour￿ and finan￿ any safeguaiding inth"ab"va. The cOngr￿atIOn continues to d8v81op our ministy at Smilhstone House. Kilwnning, Ayrshire, Scotland. The community organise reltqious serviTrs and adult spiritual formation courses. Adult faith formab'on courses and days ol retreat are given at VariOUS time5. It is possible for people lo spend time here undisturtrEd, in silence and tranquillity. F8cilities here have been developed and improved to provide better Sp￿ for visitors on retreat or attènding religious services. A separate. totally sdf-contained, buiklirvj was built there in 2022 where indiwdLJals Can stay for an extended period wlhout being (Sisturbed - to eXFErIen￿ silen￿, prayer and refreshment. This pl7￿ for ￿len￿ and reflection is open to all people who seek personal Ignewal and silen￿. The building of this facility was the largest spend on buildings during the period - but it is a facility th81 wll benefit many people. Wè ￿11 wntinue io use our lacilits.es for prayer and retreat- both lor individuals and groups. At Smilhslone House the community aso seek8 to Fromote the protection ¢Y tre natural environment through education and encouraging public awareness on the importsnce of the protection of the enmronmenl. Mwnbers are committed lo the philosophy and pffjctice oulined by Pope FrancL% in his Encydical. Laudato Si lour common home is like a sisterwth whom we share our lifel. Page 2

Sacrèd Heart Fathers Trust Report of the Tru¥tees lor the Year Ended 30 June 2023 The community at Inchicore Road, Dublin, Ireland, is the main fomation community and wethffles new caThJidates to the Congregation. It 15 also a residen¢e for dderly ￿tIred member5. A5 the ￿ntre ol formation il a150 welcomes students from thè Congregation who come from abroad lo study. It *so wel¢omes rnembers for sabbats"rA. English Language and renewal. The cornmuryty welcomes indiwdu81s and grwps for pèrsonal devdopment and spiritual growth. To adapt lo thargitu neass ol the Churth and the whder community. members are eno)Jraged to tjevelop wder skills Particular￿ in counselling and psychotherapy. This ministy is available to all peO￿e and is an expression of our desir& to meet the needs of people in a changing world A counselling and spiritual accornpanirnenl SeN1￿ is also provided at Inchicore Road. To piovide for the care of the elderly two staff are employed. Cons8quenVy. the ornmunity at InchSGor$ Fload has a higher wage bill than any other communty. SirKe members atteThJ various academic and training cout5es it also has higher spending in this area. Vvhen the community is unable to wovide alovd of appropriate care, indiwdual sid( and elderty Members txn become resident in a nursing home. Depending on the needs of the individua, this can be on a lernporary or permanent basis. This situation is cor6lantly under ￿vieW. 1115 our intention that all mernbers should be able to stay in the Gommunity for as long as p)ssible. The Trust supwrts mernbers ol the Sacred Heart Fathers who work in sorne of the poorest parts of Europe, e.g. Moldova l Transdnièslèr and across the worfd in the Philippines and Cameroon. The fvnd for Moldova was set up after the visit ol the Pro%4naal to the area 30rne years ago - and is a response to the extrem8 povety ol people there. The fund is used lo help the Congregation develop its spiritual and so(i81 Mission in Moldova provKling material aid and also helping to SUPF)Ort the pastoral work of the C￿grega&'0n in Moklova. Tho funds will be used to alleviate poverty, give support to local crxnmunibes. rxoviding adult and youth formation, and provide part contribution towards the building of pastoral centre and churches, local rnedical ￿lltreS and so on. The project is part of contribution of the Congregation to the overall rnission ol the Churth in Moldova. The Trust also made a conlributh)n lo the work of the Congregation in Cameroon. This is a sign international collaborabon within the Order and helps to fvther the mission of the Sa¢red Heart Fathers. In line Catholic sorial teaching, and with Ihe thinking ol Pope Frands, the tharity will respond in the rel￿f of povetiy and ils consequences both at home and in areas of the mission ol the Congregation and in areas of natural disasters. Where appropriate the Charity will li&5e with other bodie5 invofved in charitable works having 8 main object similar to those ol the Sa¢red Heart Fathers Trust This is an expression of the philosophy and ethos of the Sacrod Heart Fathers. Each cDmmunity uses volunteers in varicxJ$ c3p8catEs. Since Covid 19 there has be￿ a decrease in those Volunt￿rIng. The roles now include assisl'ng in administiation. cariro for the siek, eldèrly 8nd disabled linclLKling some volunteer retired nurses). housekeeping and deaning. Wthilst the volunteers. work is greatly appreciated it is not appropriate to plac8 an econornic value on It and il 15 therefore not induded in the Statement ol Financial Actsvities ke all Religious Orders in Europe the Congregation ha5 seen a decline in membership In r8cenl years- mainly due lo the death ol elderfy members. However. priests and brothels trom other parts of the Order have ¢orne to live and minister here on a permanent or extended bass (always in compliance wlh visa regulations ￿en ￿qUIred). The international leadership of the Sacred Heart Fathers In Rorne is keen to promote tre exchawe ol appropriatety qualified personnel. Exthan9e of persomel is always uncler r￿eW and all rnust compiy wlh pdio vetting and safeguarding policy. Part of the work of the Charity is to promote vocations and ongoing formats"on. TtYS 15 to edwate and train bott) current and new Members of the congregation. In recruth.ng new mernbers, the Charity hope to carry on ils work. In providing ongoing formation lor continual professional development) to current members the Charity aims to maintsin professional standard of ￿rViCe. The Order wll continue to ltyjk for new ways ol fvnd rasing during the year and seek to attract new donors. 11 will also continue tr) dèvelop our promotions resources and material. It wll continue to devdop links with other r￿10￿S of the Congregation to foster the exchange of personnel. 11 wll 81so continue to support tt)e education of fijlure priests and brothers for the Order. TIE Trust will ¢¢ntinue to use ils resour￿5 for public benefit. The Province wll ¢￿tinUe to build on the work alre8dy beirrfj and seek new and creative ways to promote and d6v6lop the work of the Trust. FINANCIAL REVIEW Investsment policy and objectives The Investment Portfolio Is sutsljy dNersified to reduce volab"lty. The charity's bng term time horizon and the key investment iisk is inflation. The Trustees wish to target a total ￿tUrn objective of inflation plus 4Yo over the long term and selected the Charty Multi-Asset Fund in order to achieve this. The trustees would also like a reguLir, sustainakAe i￿o￿e frorn their investments ar¥J have thosen to invest in tho distribut￿n units target a 4Vk distribution per annum. The ¢harity is able to tolerate volatility ol capitsl value in line wth pursuit of Ihe long term investment objective, the prèservation ol the real capital value There are no antiupated capital cash fiow needs and the Charity has the capaaty to absorb shortterrn losses withoLrt prejudicing the long tem sustainatility. Page 3

Sa¢￿￿ Heart Fathers Trust Report of the Trustees for the Year Ended 30 June 2023 FINANCIAL REVIEW Restrves policy The total chaiity funds have dewsed frorn £11.4m to £11.Om during the year. Induded wthin the total fvnds are restricted funds of £0.20m 12022- £0.20ml. Free reserves are defined as unrèstiicted reserves represented by the total of current assets less creditors. The free reserves at 30 June 2023 were £2.59m12022- £2 75ml. TawiNe assets for use are exduded on the grounds that they are used operab'onalty and their disposal may adversely impact on the chaity's ability lo deliver its aims. The Pen&on Augmentation fvnd represented by £6.2m inve5trnents is also excluded on the grounds that the charity is obliged lo seek a return on capital to c(Yrtribute towards the ongoing personal upkeep and costs tsf elderw and rets'red priests The charitys reserves poliw ￿CognISeS the requirement tts mainta'n a level of free reserves th* provides the followng to support ils varioLlS charitable activities." Working ca￿tal Funding of capttal projects that maintain, improve and develop the charivs portfolio ol ￿IllIng3 aThl activities. Available funds that rnight be required in the event of emergencEs and unforeseen events. Betrween 5 and 7 years running expenses at a level of approxirnalely £400,000 a￿ a guide forthè58 pufFKJses. On thi5 basis actual free reservès nsed lo be betrNeen £2m and £2.8ffl As well as managing fm rèserves the charity rnonllois cash flows carefvlly to ensure that suffiuent fvnds are available to meet orooing operats'ng aThJ caprtal requirements. At the eThJ of the year unre3trictaY cash at bank was £3.3m 12022 - £2.eml Thè trustees review and rnonitor reserves on an annual basis and where they hyents'fy reseNes rise or frdll significant above or bdowtheir target. they consider il corrective acbon is necessary. The Provincial Bursar reports regularfy to the Trustees and r8caNès financial reports bi-annually frorn dl tre o)mmunities which are Ihen reviewed. Cash R•￿rvo$ and Invesknents Frorn the balance sheet on page eknn ol this report it can be seen that there was a dec￿ase in thè value of the trust from £11,437.25210 £11.026.394. Cash held in bank aC￿ntS and in hand has marginally inuoased Irom £3.(K17,360 to £3.468.680. The land at Redbouine in Hertffordshire ￿MainS lèt out as fami land. We renegth.aled the rent a fw years ago but we continue to bok into ways that this resource can improve its iètum for the trust Pa￿4

Sacred Heart Fat￿1$ Tm5t Report of th• Trustees for the Year Ended 30 Junè 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Structure The Congregab'on ol the Priests of tre Sacred Heart ISCJI was founded in FranTr, in 1878. In Great Britain and Ireland the Congregation is known as the Sacred Heart Fathers. In other part5 of the wod¢J its mernbers are thown as the Dehonians in reference to the Founder, Fi. Leo John Dehon. The Sacred Heart Fathers is a Religious Congregation ol men within the Roman Catholic Chuich 1113 an international Religious Congregation ol over 23CO priests and brothers living and woikin9 in 42 countries in ffve Continents. The Congregation Is dwided into Provin￿$, Regions and Districts. The Great Brrtain Ireland Province cornprises England, Scotland 2nd Ireland The Congregation first CAme lo England in 1936, to Soolland in 1970 and to Irdand in 1978. Wlhin G￿at 8ritain and Ireland Ilhe GBI Prown￿l rt operates as a charitable trust with a single governing body, n8mdy the Provinaal Council. which manages the group according lo Ihe trust deed of the Chafity 8nd the Canon law ol the Churth. The Provinaal Counal are the tru5tee5 of the charity togethèr wth the bursar. There are wular rneetirKJs of the Provincial Council through￿1 the year. Finanaal matters are discyjssed ty a finance committee and by the trustees at designated meet'ngs. The Sacred Heart Fathers operate in accordarKe with th￿r Con5btLrtions and also the Provincial Directory of September 2014. Risk Management The trusteès 8￿Pt their responsibllty to i%rry out to respond lo a regular review of the risks to which the Charty is exposed. By means of aLJdits and expert guidan￿ they seek to ensure that appropriate finawia controls ar& in pla to provide reasonable assuranGe against error and fraud M8nagement recommendations arising frorn the annual audit are fully discussed at a finan￿ meets.ng of the trustees and whenever thanges are requi￿ to be rnade these are i[n￿eMented as fully arKI quidily as possibk. Publ1¢ Ben•fit The trustees 8cknovAedge the Charity Commission's guidan￿ on Public Benefit and have taken this into account when remewing and planning their actiwties. In Ihwr planning for 2072 - 2023 Ihey wnsidered in pa￿cUlar. how best lo use the resources ol Chanty in respect ol the duty ol care owed lo the older membèrs. The agreed the improvement of some facilities at IwhKore Road to piovide better Ca￿ of thè sick members. The community al Inchicore Road welcomed more members for Study and ongoing formatr'on enabliNJ continuing professional developnenl 8ss8ntial to our ministy to people. They also approved the development tsf facilitie5 at Smithstone House lo develop our ministry a￿j offer people modern comfortable Spaces for retreat, recollecbon, prayer and renewal. They agieed the irnprovernent ol some facilities at Sl Jom's, StockKX)rt. to c¥eate an apwokM"ate sp￿e for counsellirKJ and group meetings. On.Going TralnSng I Prof•ssional Development New trustees ara given induction and training as appropriate and have beèn provided wrth rdevant materkql. ICC3. & CC35. from the Chanty commissi(￿ for England and Wales) The bu15ar attends courses and conferen￿5 designed to keep him up-ltrdate with best practice in Britain and Ireland. He has professional assistan￿ from a firm ol thartèr8d 8ccDuntants wth understanding of the Charity sector. The bursar is 8 rnember of the ASs(￿latIon of Province Bursais IAPBI and participates in professional developme FKogrammes nab"onally and internationally. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charfity nurnber 21S)11 Principal address St John's 266 Wellington Road North stockport Cheshire SK42QR Page 5

Sacred Hoart Fathers Trust Report of the Trustees forthe Year Endgd 30 June 2023 Trustees Reverend H Hanley SCJ Reverend J Kelly SCJ Reverend J Matthews SCJ I￿SIgned 1.3.231 Reverend R Mann SCJ Reverènd P Murphy SCJ I￿sIgned 1.3.231 Reverend M SZ8￿ SCJ lappointed 1.3.231 Reverend M S Temgo SCJ (app￿nted 1.3.231 Audltors SB&P Chartered Aco)untants & Statutory Auditors Oriel House 218 Orpl Road Bootle Merseyside L20 7EP Prlnclpal Soll¢ltt>r Royds RDW 2 Crane Court Fleet Street London EC4A 2BL Prin¢lpal Bank Lloyd5 Bank Regent Street Wrexharn LL11 1SE Reglst¢red in Scotland SC (41571 Reglstered In Irgland CHY7096 STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees are respon&ble for preparing the Report of the Trustees and thè financial statements in aC￿rdanCe wth law applicable to charities operating in England and Wales. and in Scotfand, namely the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008. the Charities and Trustee Inveslrnent (Scotland) Act 2005, Charities Accounts (Scolandl Regulats'ons 20(6 and the provisions of the trust deed requires the trustees to prepare financ￿1 ststements for eath finanaal year which give a true and fair view of the state of affairs of the charity and of the incoming ￿SOU￿5 and application of r8source5. induding tte income and expenditure, ol the tharity for that period. In prepariro those financial Statements, the tiustèes are required to.. sdect suitable accounting policies and then apply them consistsnly., observe Ihe mèthods and principles in the Charity SORP., rnake judgements and estimates that are reasonable and prudent., prepare the financial statements on the going con￿rn bas15 unless it is inappropriate to pr85ume that the charty will continue in busness. The trustees are responsible for keeping pioper accounl'ng records disclose wlh reasonable aCoJr￿Y at any time the financial posth.on of the charity and to enable thern to ensure that the finarrid statements comply with the Chaiib"e5 kl 2011, the Chaiity (Accounts and Reports) Regulats'ons 2￿8, the Charities and Trustee Investrnenl (Scotlandl Act 2005. the Charities Accounts (Scollandl Regulats"on5 20CE. and the provi&ons ol the tiust deed. They are also responsiblè for safeguarding the assds of the charity and hen￿ for 18kirg reasonable steps for the prevention and dete(*ion ol fraud aThJ other irregularity'es. Page 6

Sacred H•art Father¥ Tr[￿t Roport of the Trustees for the Year Ended 30 June 2023 2511112024 Approved by order olthe board oflrLths on................................. . and s4gned on its trehalf by". 4¢5 Reverend J Kelly SQJ- Trustee Page 7

Rèport ofthe Indewndent Auditors to th• Trust•è$ of Sacred Hèart Fathers Trust Opinion We have audited the fina￿la4 statements ol Sa￿d Heart Fathers Trust Ithe'charity'l for the year ended 30 Junè 2023 which comwse the Statement ol Finanaal Actiwties, the BalanTr Sheet, the Cash Flow Statement and notes to the financial stslements. induding a summary of sigrufrant accounting pdicies. The financial repotting framework that has been applied in their preparation is appli(2ble law and United ￿n9￿orn Accounting Standards (United Kingdom Generally AcLepte(J Accounb'ng Practice). In our opinion the fjnancjal statements". gNe a true and fair view of the state of the Charty's affairs as at 30 June 2023 ol its incoming resources 8nd application of resour￿$, for the year then ended, - have ￿en properly preparerl in accord8nTr wth United Kingdom Generally Accepted Accounting Pradrce., and have been prepared in accordance wth the requirements ol the Charities Act 2011 and the Charities and Trustee Investment IScotLandl Act2005 and regulthon 8 of the Charities Accounts Iscotlandl Regulatic￿S 20C6. Basls for oplnlon We conducted our aud￿ In ￿COrdan￿ Internat￿nal Standards on Audi*"ng (UK) IISAS IUK)) and ap￿rtable law. Our responsibilities under those standards are further described in Auditors, responsibilities for the audit of the financial statements sedion ol our repotL We are independent of the charity in accordance wrth the ethical requirements that are relevant to our audit ol the finanaa Statements in the UK, including the FRC'S Ethical Standard, and wè have fulfilled our other ethi{31 responsibilities in accordance with these requirements. We believe that the audt evidence we have obtsined 15 suffiaent and approyiale to provide a basis foi our opnion. Conelusions relating to golng cone•rn In auditing the financial statements, we have concluded that the trustees. use of the going concem basis ol accountwg in the preparation of the finanoal statements is appropriate. Based on the work we have performed, ￿ have not idenb'fied any material Un￿rtaIntIeS relats.ro to events or rKlitions that, individualty or collectively. may cast $1gnificant doubt on the charity's ability to continue as a going conc6m for a period of al leasttwelve tnwlhs frorn when the finanual statements are authorised for issue. Our responsibilities and the re51x)n￿bIlitIeS of the trLlStees Te5pect to 9￿￿j ￿¢eM are described in the relevant sections of this report. Other irrformation The trustees are responsible for the other inlotrnab"on. The other infomaknon comprises the information indudad in the Annual Report, other than the finanaal statements and our Report of the Independent Auditors thereon. Our opinion on the finanual staternents does not o)ver the other infomats.on and. ex￿p1 to the extent otheNi%e expi￿VY stated in our report. we do not express any form of a55Ul8nTr conclusion thereon. In connection wth our audit of Ihe finar￿la1 ststements, our responsibility is to read Ihe other infomation and in ddng so. consider whether the other inf(Kmalion is materially inconsislenl with the finarrial statements or our kn￿edge obtained in the audit or othewse appears to be materially misstatad. If we identify such material Inconsislen(ies or apparent material misstatements. we are required to detemiine whether tt)Is gives rise to a material misstatement in the financial Statements themsdves. If. ba￿d on the work we have performed, we conclude that there is a material misstatement oflhis other infumation, wè are ￿qUIr￿ to rewrt that fact. We have nothing to report in this regard. Mattèrs on which we are requlred to report by exceptlon We have nothing to report in respect of the followng rnatters ￿ere the Charitses (Accounts and Reports) R¢gulalDns 2C4)8 and the Chanties Accounts (Scollandl Regulations 2006 requires us to repcxt to you if, in our opinion.. the informats'on given in Ihe Rep￿t of the Trusiees is inconsistent in any material ￿spe4 with the finarrial statements." ( - sufficient accounting records have not tEen kept., or - Ihe finanii81 stslements are not in ag￿emeNt with the a￿oUntIng iecord5 and return4 or -we have not r8caived all the information aThJ explanations we require for our aud Page 8

Report ofthe Independent Auditors to the Trustees of sacr￿ Heart Father8 Trust Re8ponslbllltles of trustee5 As explained mue fully in the Statement of Trust8e3' Responsibilities. the trustees are ￿sponSible for the preparatic of the financial statements which give a knje and frdir view. and for such intemal control as the trustees determine is ne￿SSary lo enable the preparatson of financial statements that are free from material rnisstatement, whether due to fraud or error. In preparing the financial statements, the tDJstees ar¢ reskY)nsible for assessing the charity's ability to COnth￿ as a going con¢ein. disclosing, as applit>ble, rnatters related to going concem and usin9 the going concem basis of accounting unless the trustees either intend lo liquidate the ¢hanty or to Trase operats"ons. or have no reaistic lemats've but to do so. Our responslbllities forthe audit of the fjnancial statements We have been appointed as auditors under Sectlon 144 01 the Chari"es Act 2011 and under Section 4411lc of the Chanlie5 and Trustee Investment (Scollandl Act 2005 and reFA)rt in accordan￿ wlh those Acts and relevant ulatK)ns made or having effect t￿￿under. Our objectives are to obtain reasonable assuran￿ about whether the financial stalernents as a whde are fr8a from material misstaternenl, whether due to fraud or error, and to issue a Rewrt of the Independent Auditors that indudes our D￿nIon. Reasonable assuran￿ is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUK) wll alway5 detect a material misstatement when it exists. Mis5taternenls can arise frorn fraud or error and are considered material if, individually or in the aggregate, they could rè3$¢nably be expected to influenTr the economic dwsions of users taken on the ba&s of these financi81 statements. The extent lo which our ￿￿0￿ureS are (xpable ol de￿tIng irregularities. including fraud Is detailed below.. Thè objecbves of our audit aro to identify and assess the risk$ ol material misstatement of Ihe finanaal statements due to fraud ￿ error." lo obtain sufficient appropri8le audit eviden￿ regarding assessed 1Ssks of material misstatement due lo fraud or error, and lo respond appropriately to those risks. Owng to the inherent limitations of an audit. there is an unavoidable risk that material mis5talements in tha financial 5taternents may not b8 detected, ev￿ though the audrt is property planned and performed in accordance with the ISAS IUKI. In identifying and assessing risk of material misstatement in respect ol itr£gularil'es, induding fraud and non<ompliance Mlh laws and regulations, our proLEdures induded the folbwing.. Vve obtsined an understanding ol the legal and regulatory framewotk5 applicable to the charity and the sector in whth rt operates. We determined th81 the following laws and iegulations were most significant. the Chariknes Act 2011, the Charities and Trust￿ Investment (Scotlandl Act 2005, regulats.on 8 of the Charities Accoun15 Iscotlandl Regulations 2006, UK corporat8 tax laws, UK employment laws and UK health and saféty regUlats'c￿S. - We obtained an understanding of how the Charity is complying Mlh those legal and regulatory frameworks by making erquiries of management, reviewng the board meetirvJ minutes, and revlewing the legal costs incurred in the year and enqUi￿ng with management to the circurnstances around these legal costs. We ass6ss8d the SUS￿ptibl1ify of the Charity's f nancial statemènt5 to materiality misstatement induding how fraud might occur. Audit procedures performed by the audit engagement team indLKled'. - identifying the controls that rnana9ernenl has in pla￿ to prevent and detect fvaud", - challenging 8ssumptr.ons and judgements made by management in its significanl acc￿nting esbrnates.. auditing the risk of tnanagernent override of Controls, irLluding through testing jouma entries and other adj'ustments for appropriater￿$s. and ev8lu8ting the ￿sInesS ratitsna￿ of51gr￿rlCant transa¢b"on5 oulsde the nomial ￿￿r$e of business", - assessng the extènt of compliancewth tha rdgvant laws and regulat10￿. A fijrther description of our responsibilities for the audit ol the fin8nii81 statements is locat&d on ts Financial Reporting Counal's website at bw.frc.org.uklaudilors responsibilities. This de8cription forms part ol our Report of the IndependentAuditois. Page 9

Report of th? Independent Audltors to the Tru8tee5 of Sacred Heart Fathers Trust Use of our report Thi5 report is made solely lo the charity's trusta8s, as a body. in accordance with Part 4 of the Charit185 IA¢counts and Reports) Regulations 2008 and in accordance with Regulation 10 of the Charities Accounlslscollandl Regulations 2006. Our audit WOTk has been undertaken so that we rnighl state to the charitls trLJStees those matters we are required to state to them in an audit015' report and for no other purpose. To th& fullest extent perrni(ted by law. we do not accept or assume responsibility lo anyone other than the charity and the charitys truslees as a body. for our audit work, for this report, or for the opinlons wo have formed. SB&P Chartered Accountants & Statutory Auditors Oriel House 218 Oriel Road Boolle Merseyslde L20 7EP 25 November 2024 Page 10

Sacred Heart Fathers TrLEJt Statement of Financial Activitles for the Year Ended 30 June 2023 30.6.23 Total funds 30.6.22 Total funds Unrestricted funds Resth"cted fund5 Notes INCOME AND ENDOWMENTS FROM Donth"ons and legacies 22.794 21794 112.528 Charitable activitiès General 90,967 90.967 98,907 Olher trading actmties Investment incorne 4,830 282,473 4,830 281473 16.112 276,092 Totaj 401.064 401.064 503,639 EXPENDITURE ON Raising ￿ndS 19A70 19,470 20,555 Charitable actlvlties General 592,950 591950 $87.938 Totsl 612.420 612,420 608,493 Net gainslllosses} on investments 1199,5021 1199,5021 1454.7891 NET INCOMEIIEXPENDITUREI {410,8581 14100581 1559.6431 RE¢Oh￿ILIATION OF FUNDS Total fvnds brought fonNard 11,230,915 206,337 11A37.252 11,9%.895 TOTAL FUNDS CARRIED FORWARD 10.820,057 206,337 11,026,394 11,437,252 The notes form part olthese financial statements Page 11

Sa¢r¢d Heart Fathers Trust Balance Sheet 30 JlF￿ 2023 30.6.23 Total funds 30.6.22 Total nd5 unrestn.cted fvnds Re51ricted fvnds Notes FIXED ASSETS Tangible assets Invesknents Inve51rnents Investment prop 11 1.930,363 1,930,363 1.961,471 12 13 6,253,115 50,000 6,253,115 50,000 6,452,618 50.000 8,233,478 ,233,478 8,484,089 CURRENT ASSETS Debtors Cash at bank and in hand 14 130,975 3,262,344 130,975 3,468,680 71 3.007.360 206,336 3,393,319 206,336 3,599,655 3,007.431 CREDITORS Amounts falling due wlhin one year 15 1806,7401 1806.7391 154,2681 NET CURRENT ASSETS 2,586,579 206,337 2,792.916 2,953.163 TOTAL ASSETS LESS CURRENT UABIUTIES 10,820,057 206,337 11,026,394 11,437,252 NET ASSETS 10,820,057 206,337 11,026,394 11,437,252 FUNDS Unrestricted fvJnd5 Restrictsd funds 17 10,820,057 206,337 11,230,915 2C6.337 TOTAL FUNDS 11,026.394 11.437.252 The financ4al ststements were approved by the Board of Trustees and aLrthorised for issu6 .2611.IA2024......................... and were sgned on its bthalf by.. -￿ &¢ J Kelty SCJ- Trustee The notes ftjrm part ofthese financial statements Page 12

Sacred Heart Fathers Trust Cash Flow Ststement for the Year Ended 30 June 2023 30.6.23 30.6.22 Notes Cash fiows from operating activities Cash gener*ed from operats.or 188.672 1307.3321 Net t2sh prowded byllused inl otErating activities 188,672 1307.3321 Cash fl¢)fft from investing aetivities Purchase of tangible fixed a85ets Interest r￿1Ved Diiridends re￿iVed 18,2501 2.025 278,873 2,547 271,970 Net cash wovided by investing adivits.es 271648 274,517 Change in cash and cash equivalènts in the reporting perlod Cash and cash equlvalents at th• beginning of the Teporting period 461,320 132,8151 3,007,360 3.040.175 Cash and cash eqtslvalents atthe end of the reporting period 3,468,680 3,007,360 The notes form part olthèsé financ4al statements Page 13

Sacred Htart Fathers Trust Note5 to the Cash FlOwStat•￿nI for the Year Ended 30 June 2023 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 30.6.23 30.6.22 Net expenditure for th& reportlng perSod las ￿r the Statement of Financial Activities) Adlustrnents for.. OepreGiation charges Losses on Inve5tfflents Interest re￿1Ve￿ Diwdends re￿Ived Increase in debtors It￿rease in creditors 1410,858} 1559.6431 59,357 199,502 12.0251 1278,8ni 1130,9031 752,472 60,779 454,789 12,5471 1271,9701 11.260 Nat eash provlded by4used Inl opèratlon8 188,672 1307.3321 ANALYSIS OF CHANGES IN NET FUNDS At 1.7.22 Cash flow At 30.6.23 Net cash Cash at bank and in hand 3.007,360 461,320 3,468,680 3.007.360 461,320 3,468,680 Total 3.007,360 461,320 3.468,680 The notes fomi part of thesÈ financial staternents Page 14

Saerèd Heart Fathers Trust Notes to thg Flnan¢i41 Statements for the Year Ended 30 June 2023 ACCOUNTING POLICIES Basis of preparlng the financial statèmènts The fillancial statements of the charity, which is a public benefit entity under FRS 102, have been prapared in aC￿rdance with the Charities SORP IFRS 1021 Accounting and ReFX)rting by Gharities.. Statement of Recommended practi￿ ap￿Icable to charib'es preparing their 8c(runls in accoidance with the Financial Reporhng Stardard applicable in Ihe UK and Republic of Ireland IFRS 1021 (effective 1 January 20191., Financial Repor￿ng Standard 102 'The Financial Reporb'ng Standard appliGgble in the UK and RepubIic of Ireland, and the Charities Act 2011. The finanaal statements have been prepared under the historical cost conventi￿. with the ex￿ptiOn ol investments which are induded al market value, as modified by the rwaluation of certain assets. Income All inoome is recognised in Ihe Statement of Financial kn'wties On￿ t￿ d)￿lty has entrdement to the fvnds, il is wobable that the income will t rec￿Ved and the amount ran be rneasured reliably. Expenditure abilities ara re¢ognised as expenditure a5 soon as there is p leg81 or constructive otligalion commitknng tt Charity to that expenditure. il is probable that a transfer ol economic bènefits will be required in seWement and the amount of the obligation ozn be measurecl reliab5y Expenditure is accounted for on an acuuals basi5 and has been clas&fied under heading5 that aggregate all cost related lo the categcwy. Vvhere costs cannot be diredy attn"buted to partrJJPar headings they h8ve been allocatwj to athvitie5 on a baws consistent ￿7th the use of resources. Support costs Costs which. while necessary to deliver an activity, do not themselves woduTr thè actiwty. They include the central officè functK)ns of the charity and are often apportiord to aetivthes. The amount shown here is the total amount of support costs (for charitsble, fundiaising arKI govemance activits.èsl included in ￿sourceS expended. TfEy arè apFK)rtI￿ed at the fdlowing percentages. Governan￿ costs Premises costs Cornrnunication ¢os¢s Travel Personnel Fin8ncial lo￿/ 10% -50% -25% -10% -25% Governance costs Expenditure on the governance cD5ts of the charty includes expendi￿re that rdatas sFEcifically lo the strateg and futura devdoprnenl ofthe charity. Tangible Ilxed assets Depreaab"on is provided at the following annual rates in order to write off each asset over its estimated usehjl Freehold property Equiprnenl and furniture Motr>r vehicles Cornputw 4uipment 2% on c05t 5% on reducing balan 25°k on cost 25% on reducing balance Investment property The investment propety has been valued at £50,QCKJ by the board of truste¢s. Taxatlon The eharty is exemptfrom tax on its charitable a￿v￿e¥. Fund aecounting Unreslricled funds (xn be used in accordan￿ wth the ch8ritable objectives at the discretion of the trustees. Designated funds cornprise unrestricted ftJnd5 Set aside by the trustees for particular purposes. The trustees operale each comrnunity and projecl ol the charity a5 a separdte designated fund. Page15 conbnued...

Sacred Heart Fathers Tru$t Notes to the Flnan¢ial Statements- eontrnued for the Year Ended 30 June 2023 ACCOUNTING POLICIES- ¢ontinued Fund accountin9 Restricted fiJnds can only be used for paiti¢ular restricted purposes wthin the objects of the charity. Restnthons arise when speafied by the donor orwhen funds are raised for parhcular restiioted purp03es. Further ex$￿ana￿"on of the nature and purpose of each fund is induded In the notes to the finanoal statements. Fund transfers OCLur knannually in the charity to reall(Kaltr fin8TTrGid resources btheen the designated fUr￿S and the gefftral fund ol the charty. Fund5 ra13ed or donation5 authorised by the trusteès. for the restricted activities are also transferred. Forelgn eurr8ncies Assets and liabilities in foreign cu￿ncle$ are translated into stwling al the rates of exchange r￿Ing 81 the balance stEet date. Transa¢#ions in foreign currencie5 are tran￿ated into sterling at the rale ol exchange ruli at the date of transacbc In¥8stm+nts Investments are included in the financial statements at the year 6nd market value. Income from investments, bank and other deposits are included ￿ an ac(xuals b8SiS. DONATIONS AND LEGACIES 30.6.23 30.6.22 Donattons Mass stipends Stole fee5 Supply fees Education and training 1.081 10A31 5,758 5.524 30,833 23,392 2,041 4,128 52,134 22,794 112,528 OTHER TRADING ACTIVITIES 30.6.23 30 6.22 Fundraislng events other income 15.072 1.040 4,830 4830 16,112 INVESTMENT INCOME 30.6.23 30.6.22 Rents r￿1Ved Dividend income Deposit xcounl interest 1,575 278,873 2,025 1,575 271,970 2,547 282,473 276,092 Page 16 C￿ntinUed...

Sa¢rod Heart Fathers Trust Notes to the FSnanclal Stat•ments- continued forthg Year Ended 30 June 2023 INCOME FROM CHARITABLE ACTIVITIES 30.6.23 Actiwty Genera Contributions from rnembers 90,967 98.907 RAISING FUNDS In¥estm•nt management ¢osts 30.6.23 30.6 22 Portfolio rnanagement 19.470 20.555 CHARITABLE ACTIVITIES COSTS Support costs (see note 81 Direct Cost5 Totals General $00,207 92,743 592.950 SUPPORT COSTS Govemance costs Management Other TotsL8 General 41.$36 966 50.241 92,743 TRUSTEES, REMUNERATION AND BENEFtTS The￿ were no trustees. re￿￿eration or other banèfi15 for the year ended 30 June 2023 noi for the year ended 30 June 2022. Trustees, expenses There were no trustees, eKFEnses paid for the year ended 30 June 2023 nor for the year endad 3) June 2022. 10. STAFF COSTS 30.6.23 30.6.22 Wages and salar￿9 Sctial securty costs 42,7TT 5.314 43,836 5,421 48,091 49,057 average mr￿1hIY nurnber ol employees during the year was as follows.. 30.6.23 30.6.22 Charitable Activities No employees re￿Ne￿ emoluments in excess of£60,0W. Page 17 continued...

Sa¢red Heart Fathérs Trust Notes to thè Financial Statements- eontlnued for the Year Ended 30 June 2023 11. TANGIBLE FIXED As$￿s lrnprovemen¢s Equipment and rThture Freehold propety pr(ygrty COST At 1 July 2022 Additions 1,366,046 1,143,576 191,097 At 30 Jure 2￿23 1,366,046 1.143,576 191.097 DEPRECIATION At 1 July 2022 Charge for year 489.227 27,321 238,413 22,874 11.750 567 At 30 June 2023 51&548 261,287 12317 NET BOOK VALUE At 30 June 2023 849,498 882,289 178.780 At 30 June 2022 876,819 905,163 179,347 Fixtu￿$ and fittings Motor vehcjes Computor equiprnenl Totsls COST At 1 July 2022 Add￿.(￿5 13,6(N) 88,962 8.250 3,181 2,806,462 8,250 At 30 June 2023 13,600 97,212 3.181 2,814,712 DEPRECIATION At 1 July 2022 Charge foryear 4,091 476 78,748 8,015 2,762 105 824,991 59,358 AI 30 ￿ne 2023 4.567 86,763 2,867 884,349 NET BOOK VALUE At 30 June 2023 9,033 10,449 314 1.930,363 At 30 June 2022 9,509 10,214 419 1,981,471 Induded in Equlpmenl and fijmiture are paintiryJs and works of art th81 were gifted to the chanty in 2W2. These assets are believed to have residual values not materially different to the carrying values and are therefore not depreciated These assets were Independently valued in March 2002 wlh a value of £166,￿0. The replacement value for insurance purposes al Septembèr 2014 was approximatèly £2￿.000. At 30 June 2023 Smithstone House in KI￿innIng S¢ot18nd. is disclosed at 8 (xrrying v￿ue of £265,257 induding improvement costs of £257,390, in the opinion of the trustees this has an approximate market value of £750.000. The market value of all other freehdd propety is not considered to be rnaterially different from the carrying value& Page 18 conts"M8d. .

Sacred Hèart Fathers Trust Not•s to the Financlal Staternents. contlnuefl forthe Year Ended 30 June 2023 12. FIXED ASSET INVESTMENTS UK quoted fixed interest Other 11sted investsnents Totals MARKETVALUE At 1 July 2022 Revaluats'ons 6,432.874 1205,285} 19,744 5,782 6,4S2,618 1199.5031 At 30 June 2023 6,227,589 25,526 6,253.115 NET BOOK VALUE At 30 June 2023 6.227,589 25,526 6,253.115 At 30 June 2022 6.432.874 19,744 6.452,618 There were no investment assets outside the UK. Cost orvalualion at 30 June 2023 is reprtsented by.. UK quoted rixèd interest Other Ilsted inve5trnents Totals ValLJation in 2022 Valuation in 2023 6,432,874 12052851 19,744 5,782 6,452,618 1199,5031 6,227,589 25,526 6.253,115 13. INVESTMENT PROPERTY 30.06.19 30.(￿.18 AgA¢ullural laThS- Redbourne. Hertfordshire 50,OCO 50,000 DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.23 30.6.22 Other debtors 130,975 71 Page 19 conthued...

Sacred Heart Fatheys Trust Notss to the Flnancial Statements- conttnued forthe Year Ended 30 June 2023 15. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.23 30.6.22 other creditors 806.739 S4,￿8 16. L&4SING AGREEMENTS Minimum lease payments urKler non<ancellable operating lea3es fall due as follows. 30.6.23 30.6.22 Within one year Behveen one and five years 7,740 6.249 1,898 7,740 8,147 17. MOVEMENT IN FUNDS Net movement in fvnds Transfers belween funds At 30.6.23 At 1.7.22 UnrestrfetÈd fvnds General fund Pension Awmenlation In¢hwre. 0￿￿1n Promotions St. Joseph's, Stctkport Smrthstone House st John's, Stockport Ardlea, Dublin Pilgrimage Fund 2.834.753 6,423,163 358.337 140.367 1205,2841 1167,7021 1145,1031 2.830.017 6,217,879 217,135 28,SOO 19,1421 77,779 1,506,171 16,337 23,511 14,750} 1114,1921 160,8301 113,8921 SS,587 1,471,944 17,581 23,802 92,000 26,603 291 11.230.915 1410,8581 10,820,057 Restrlcted funds Moldova lund Fr O Wnne Book Fund 191,523 14,814 191.523 14,814 206,337 206.337 TOTAL FUNDS 11,437,252 1410,8581 11,026,394 Page 20 ¢ontiNed...

Sa¢red Heart Fathers Trust Notss to th• Financial Statements- eontlnued forthe Year Ended 30 June 2023 17. MOVEMENT IN FUNDS- contlnued Net movement In fullds, induded In Ihtr above are as follows.. Incorning resour￿$ Resources expended Gains and losses Movement in fvnds Llnre$tri¢tsd funds General fund Pellsion Augmentaoon Inchicore. Dublin Promotions St. Joseph's. Stockport Smilhstone Hous8 St. John's. Stocl(port Ardlea. Oublin Pilgrlmage Fund 281,772 1147,1871 5,782 1205.284} 140.367 1205,2841 1167,7021 121 14,7501 1114,1921 160.8301 14,156 1181.858) 11) 122.7361 1122,9471 182.7711 154,9201 17.986 8,755 21,941 56,164 291 291 401,064 16114201 1199,5021 1410.8581 TOTAL FUNDS 401,064 1612.4201 1199,5021 1410,8581 Comparatlves lor movement in funds Net movement in lun(Js Transfers bebween nds At At 1.7.21 Unrestricted funds General fund Pension Augmentation Inehieore. Dutlin Promotions St. Jo$eph's. Stockport Smithstonè House St. John's. Stockpcrt Ardlea. Dublin Pilgrimage Fund 4,503.02 6.870,628 234.709 55,913 1447,4651 160.9671 11,724,189) 2,834.753 6,423,163 358.337 184,595 126,5721 110,072 85,618 11,278 23,409 17,430 197,8931 133,4411 5.059 102 19.1421 77.779 1,506,171 16,337 23.511 65.6(K) 1,473,994 11,792.178 1561.2631 11.230,915 Restrlcted funds Moldova fund Fr O Vvyme Bts)k FuThJ 189,9)3 14,814 1.620 191,523 14.814 204.717 1,620 206,337 TOTAL FUNDS 11,996.895 1559.6431 11,437,252 Poge 21 conb"nued...

Sacred Heart Fathars Trust Notes to the Flnanclal Statements- contlnuod for the Y8ar Endod 30 June 2023 17. MOVEMENT IN FUNDS- ¢onWnued comparati￿ net movernent in funds, induded in the above are as follows.. Incoming resour ReSour￿S &xpended Gains and 105ses Movemènt in funds Unrestricted funds General fund Pension Augmenta*'on Inchicore, Dublin Prornolions SL J05eph'5. Stockport Smithst0￿ House Sl. John's, Stockport Ardlea. Dublin Pilgrimagè Fund 275,1 1211,9281 17,3251 1447.4e41 55,913 1447.4651 160.9671 7t,394 1132,3611 121 58,432 8.073 17,214 71.638 102 17,430 197,8931 133,4411 5.059 102 1105,9661 150.6551 IE6,5791 502,019 1608.4931 1454.7891 1561,2631 Restrlcted ful￿5 Moldova fvnd 1,620 TOTAL FUNDS $03,639 1608.4931 1454,7891 1559,6431 A current year 12 months and ￿.01 year 12 rnonths o)rnbined p0s￿On is as follows.. Net movement in fvThls Transfers te￿n funds Al 1.7.21 Unr•stricted fvnds Gereral ￿nd PènsK)n Augmentation Inchico￿. Dublin Prornolions Sl Joseph's. Stockport Smithstone House Sl. John's, Stockport Aiijlea. Dublin Pilgrimage Fund 4,503,029 6,870,628 234,709 198,280 1652,7491 1228.6691 131 12,680 1212,0851 194,2711 6.303 393 11,869,2¥21 2.830,017 6.217,879 217.135 211,095 128,5721 110.072 65,618 11,278 23,409 113,8921 55.587 1,471.944 17,581 23,802 157,60) 1.500,597 11,792,178 1972,1211 10.820,057 Restrlcted funds Moldova ￿nd Fr O Wynne Book Fund 189,903 14,814 1,620 191.523 14.814 204,717 1,620 206,337 TOTAL FUNDS 11,99S,895 1970.5011 ll,l￿6,394 Page 22 conts'nued...

Sacred Heart Father8 Trust Notes to the Finan¢io1 Ststements . continugd for thg Year Ended 30 June 2023 17. MOVEMENT IN FUNDS-continued A current yèar 12 months and prior year 12 months combined nel movement in funds. included in the above are as follows.. In¢oming resource5 Resources expended Gain8 and ossès Movement in funds Unrestricted funds General fund Pension Augmenlalion Inchicore. Dublin Promotions St. Joseph's. Stockport Smilhslone House St. John's, Stockport Ardlea, DLJblin Pilgrimage Fund 556,938 (359,1151 11.5431 1652.7481 196,280 1652,7491 1228,6691 131 12,680 1212.0851 {94.2711 6.303 393 85.550 1314,2191 131 163,7381 1228,9131 1133,426) {121.499) 76.418 16,828 39,155 127,802 393 903,083 11.220,9131 Re¥tricted funds Moldova fund 1fj54,2911 (972,121} 1.620 1,620 TOTAL FUNDS 904.703 11.220.913) {654,2911 1970.5011 Transfers bètw¢en funds Transfers botween the individual unrestricted deswn8ted funds are made at the discretion of the Iruslees. RELATED PARTY DISCLOSURES 18. Included in Other creditors is a loan from Sacred Heart Fathers Education & Training ¢h8rity, which is controlled by the the trustees of the charity. The loan advanced was £727,041 which is iepayablè on demand. UNRESTRICTED FUNDS 19. The general fund may be used al the discretion of the trustees for the furtherance of the charitls objectives. DESIGNATED FUNDS 20. The charlty operates a separate de3ignated fund for each of the communities and projects that it owratès. Au menta The inveslmenl is held lo generate incomlng resources that contribute towards the financlal support of retired priests. hicore Dublin This fund represents the in¢ome and expenditure relating lo the house, which provides residence for studen15 88 well a5 retired priest5. ProrI￿tIonS The fund represents the income and expenditure that relates to the promotion of the charity. l Jose h's Stock ort The fund represents the income and expenditure that relates to the resident priest, who works in the parish, and retired priests. Smithstone House The fund represents the income and expenditure relating lo Smilhslone House. whlch opèrates as a house of prayer. Sl John's ort Page 23 conlinued...

Sacred Heart Fathers Trust Notes to the Flnanelal Statements. contlnu8d for the Yèar Ended 30 June 2023 20. DESIGNATED FUNDS- conllnu•d St hn's Stock ort The fijnd represents incom8 and exwditure ralab"r¥J to the house that is the residen¢e of the Prowincialate as well as older piiests and brothers. The fund rgpresents the itKomè and expenditure th rdes to the resRI￿t priesvs who work5 in the parish. rima es fund The fund represents monies cdlected that wert surplu5 to expenditure incurred on pilgrimage trips Ihe chanty operates.The designated fvnd wll be ￿$ed to support future txlgrirnage costs. 21. RESTRICTED FUNDS The income received is used to SUPPOrt missionary work Sn Mokjova. Fro nne Book fund The Ineome relates to a legaw rewved towards the prints'ry and promotK)n of books by Fr O Wnne. Page 24