2023-12-31-accounts

Charity number: 223807 COMMUNITY OF THE HOLY CROSS TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

COMMUNifY OF THE HOLY CROSS CONTENTS Reftrence and Admlnl8tratlve Detalls of the Charlty, Il# Trust•e8 and Advl8ern Tru$tees' Report Indgpendont Audltorf$ Report on the Flnan¢l41 Siatsm•nts Statemenl of Fin•nclal Actlvttl• Balan¢* Sheet Page 7-10 12 Notes to the F141an¢lal Ststementi 13-27

COMMUNITY OF THE HOLY CROSS REFERENCE AND ADPAINISTRATIVE DETAILS OF THE CHARITY, ITS TRLISTEES ANO ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Truste? iss Joy Rose Gough (Reverend Motherl Mi55 Chery Mae Wise The Rev'd Canon Jeffery Stewart HoFewell The Rev'd Giles Anthony Christopher Orton Ch•rlty regkntered numb•r 223807 Prlnclpal offlco Hoty Cross Convent Hlghfields Notb'ngham Road Costock Loughborough LE126XE Independ•nt audltor The Rtswleys Partnership Ltrl Chartered Accounlanls Statutory Auditor Chamwood House Harcourt Way Meridian Business Park Leicester LE19 IWP 8ank•rn National Wegtmlnster 8ank PIC Markel Place Loughborough LE113EA Sollcltorn Anthony Collins Solicitors LLP 134 Edrnund Street Birmingham 83 2ES Inve8tm•nt advl¥orn CCLA Investment Management Limited One Angel Lane London EC4R 3AB Page 1

COMMUNrrY OF THE HOLY CROSS TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual report logalher with the audited financial 5taternenls of Community of the Holy Cross {'Ihe Charity'l for the year Irom 1 January 2023 10 31 December 2023. The Trustees confirm that the Trustees, report and financial statements of the charity comply with the curTenl statutory requirements. the requlremenls of the charity's governing document and the provisions of the Slalemenl of Recommended Practice ISORPI, applicable lo charities preparing their accounts in accordance witth the Financial Reporting Standard appIl￿ble in Ihe UK and Republlc of Ireland IFRS 102) (effed'vo 1 January 20191. ObJKtlves •nd actlvttl•s a. Pollclu •nd obl•ctlv•• The prinGipal objectNe of the Communlty 15 to sarye God, and lo this end lo promote the maintenance, perfectlon and spread of the Christian ￿ligIon and the religiouy life, by performing the Divine Office, by the exampl¢ and 5nflu8nee of Ils corporate life, as also by leaching and publlcations, and. by acts of mercy, to relieve povety and distress, to provide accommod811on, food and rest and lo care for those who are in physical, mental or spirllu81 di8lre$s, lo care for the sick and aged, in ways that are not within the scope of public assistance and generally lo use any opportunity, both alone and In conjunction wth others, to gNe help where il Is needed. For the attalnmenl of these purposes the members of the Cornmunity regulate their live8 by the religiou5 VOWS and by observance of the Holy Rule of Sl. 8enedicl. according to the Const*lulions of the Community of the Hoty Cross. In setting objectivès and planning for aclivlties, the Trustee8 have gNen due conslderatson lo general guidance published by the Charity Commlssion relating lo public beneflt, Indudlng the guldance 'PublK benefft.. runnlng charity IP821'. b. Grnnt4Nklng pollclg• The category of recipients lo whom grants are made are promo￿On of Religion, Medical, Relief of Povety el both in the Uniied Kingdom and abroad. Grants are made at the discretion of the Reverend Mother after nsullalion w6th the Communlty. We have given £44,6SO 12022.. £46,650I in alms whlth Ss aPpr0￿MatelY 9.ecA 12022.. 10.9Qh) of our incom exduding grants 8nd legac￿$. This is slighlty lower than 2022. Page 2

COMMUNrrY OF THE HOLY CROSS TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 310ECEMBER 2023 Achiov•ments and performance . Revlew ol •ctlvltlK and flnanclal revl•w Due lo inueased infimiities in our older Slsters we engaged a night careT for three nlgh15 8 week. For 2-3 months, w8 also employed an agency nurse for a further 3 nlghls a week. With the death of a sister this latter ceased, though w8 used the agency nurse agaln on an occasienal bass. In OclDber 2023 followng stom) Babel, during whKh the guest house was 5eriou51y threatened by flood, we had some emergency alterations carried out on the main farm dralnage dllch crosging our land. In subsequent storms thi5 has prove(J satisfactory, Ho$pilality lo guests. We continue to ro¢eive qviet day visitors in tha convent 8nd some par15h quiet day groups in the guest house. The Guest House is open for limited accommodation. A number ol elergy and brothers and sisters from other communities have stayed for retreat or their rest period also a nurnber of oblates and assoclales. The con8tructlon of a solar larm on the farrr￿and surrounding our own land has been grantets planning permission but is still awaiting permission lo link up lo the power lines. Articles have been written for publicatson this year and weekjy medilalbve posts on our social media pages have been accessed by many people in the wlder Church. A 8lstsr18 Ilvlng at Bewerfey in North York5hlre where she has a mlnisty of prayer and spiritual dlr8ction. We continue lo support our extern sister who ha8 returned lo Korea where yhe Is livbng as a semi-hermlt on Jelu 1518nd. Covid 19 still poses some problems in Korea bvl Sister continues her ministry al the Anglican church helplng the prlesl by vlslllng parishioners, holding Bible studies, preparing candidates for baptssm and confirmation and leaching in the Sunday School. b. Inve•tm•nt pollcy •nd p•rtomiinc• Steps have been tsken lo safeguard the capital value of our investmen15. In March 2023, following the basic Ch8rrty Cornmis5ion recommendations, we employed an independent financlal advisor, to review our investment holdings. After consultation and meetings with a number of Investment companies, we agreed to reali5e our holding5 and re4nvesl the proceeds as advised. The majority ol this was achieved by the end of the year. though Iransa¢lion8 will not be comrAete until early 2024. The Investmenis held by the charity are in accordance with the powers ofthe trustees. The mafkel value of quotèd investments showed an unrealised gain of £564,99812022'. nel unrealised loss of £1.152,7451 and a rgalised loss of £83.63712022'. realised loss of £128,968). We continue to rety on our fund managers lo take a prudent approach lo preservation of capital and our expected needs in ihe lorthcoming yaar. Page 3

OMMUNITY OF THE HOLY CR0&8 TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Achi•vem•nts and perlomiance Icontinufjdl c. Golng concern The Trustees have a reasonable expectation that the ch8rlty hag adequate regources to continue in oreralional existence for th8 foreseeable fvlure. The Community ha5 confirmed Ihal il has adequate cash and investment resources for al least the next 12 month5 from the date of signSng these financial Statements and for this reason they continue to adopt the going concern basis in preparing the financial slalemenls. Oth•r pollcl•• •. RM•rv•• pollcy At 31 December 2023 the charity's r8serve5 comprise general resems lo provide working capltal and lo secure the conllnuity of the Charlty's activlb'es in Ihts future. Al 31 De¢emb8r 2023 the reseryes amount to £17,490,328 12022. £17,1 S2.4061. b. Prlnclp41 fundlng The Trustees arè satisfied Ihal the charity's assets are available and adequate to fulfil their obligalionB. Structhr•i gov•m•n¢• Ind m•n•g•ffl•nt . Con•lltutlon The Community of the Holy Cross is an unincoTporaled registered charity and a trust whith is governed by the Hoty Rule of Sl. Benedlct modlfied by the Conslilulions. M•thod8 of appolntm•nt or •l•ctlon of Tru8t••• The Constttutions provide for the election, removal and resignation of the Trustees. c. Pollclv •dopt•d for the Induetlon and tralnlng of Tru•tse8 The Trustee5 are mlndlul of their duli•s In Connection with the recrultmenl and training for Trustee5. Page 4

COMMUNITY OF THE HOLY CROSS TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 structurei g¢vèrnanc• •nd management Icontlnued) d. Oryanl•4tlonal structuro and doclslon making There were five Trustees, one cf whorn is the Reverend Mother. The other four are Iwo members of the Chapter and people who are not a member of the religious community nominated by the Reverend Mother with the consent ol the Warden and elected by the majodty of the Chapter. Mrs Card Anne Smith resigned as a trustee during the year. The Chapter comprises all of the slslers in life vows under the presidency of the Reverend Mother. Every member of the Chapter has the right lo vote when matters concerning the communty are discussed. The Warden is a priest having the care of the SPiTitual life of the community and is elected lo office by the Chapter. The Trustees who served during the year are li$led beljw.. Mis8 Joy Rose Gough Miss Cherry Mae Wisé The Rev'd Canon Jeffery Stewart Hopewell The Rev'd Glles Anthony Chrislopher Orton Mrs Carol Ann Smith (resigned 16 October 20231 Please See the Reference and Adminislralive Details of the Charity, Its Trustees and Advisers on page 1 lor the charlty'8 regisl&red number and princ5p810ffi.cg address. •. Rl•k managomfrnt The Trustees have 8ssessed the major risks lo which the charity is exposed, in particular those related lo the operations and finances ol the charity, and are $ali$fied that systems and procedures are in place Its miligale exposure lo tho major risks. The charity uses finondal instruments comprislng cash and Inve8lmenls. The main purpose of these 15 to finance Iha WOr￿ng capital tyele of the charity and the h)nger lemi income and cgpilal needs. The charity considers 115 Investments lo be its main source of fin8ncial risk. A fund manager Is used to manage Ibul not glimlnatel these n8k8. l. Audlt¢x• During the year The RovAeys Partnership Ltd were reappointed as Auditors of the charity. Page 5

COMWNfry OF THE HOLY CROSS TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Statem•nt of TThsts•s' rn8pon8lbilitles The Trustees are responsible for preparing the Trustees, Annval Report and the financial slalemenls in accordance with applicable law and United Kingdom Accounting Slandaids {Unile¢ Kingdom Genarally Accepted Accounting Policies). The law applicable lo charities in England & Wale$ requires the Iruslee8 lo prepaie financial statements for each financial year which give a true and fair view of th8 state of affairs of the charty and of the incoming resourcas and appllcalion ol resources of the charfty for that period. In preparing these financkql Statements. the trustees are required lo.. select suilatlè accounVng pol￿188 and thèn apply them consistenlty., observe the methods and pnncipl8$ of the Charities SORP 2019 IFRS 1021., make judgements and eslimales that are r8asonabl8 and prudent., slate whether applicable accounting standards have been followed., prepare the finanual statements on the going concem basis unless it is inappropriate to presume that the charity wll continue in business. The trustees are responsible for keeping proper accounting records that disdo$¢ with reasonable accuracy al any ts'me rhe financial position of the charity and enable them lo ensure that the flnanclal 51alemenls comply with the Charlles Act 2011, the Charity IAccounls and Reportsl Regulations 2008 and the provisions of the tru81 deed. They are ako responyble for safeguarding the assets of the charity and hence for taking reasonable steps for the preventton and detection ol fraud and other Irregularities. Approved by order ol the members of the board of Twstees and 8ign•d on Iheii behalf by.. Ml8s Joy Rose Gough (Reverend Motherl (Chair ol Trustees) Dale.. 0710512024 Page 6

COMMUNrrY OF THE HOLY CROSS INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF COMMUNITY OF THE HOLY CROSS Oplnlon We have audited the financial stslements of Community of the Holy Cross Ilhe 'charity'l for the year ended 31 Oecember 2023 which ¢ompri5e the Statement of Financial Athvilie5, th8 B818nce Sheet, and notes to the financial stslements, induding significant accounting pollciès. The financial reporting framework that has been applied In their preparation is applicable law and United Kingdom Accounting Standards, induding Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice). In our opinlon the flnancial Statements.. give B tru8 and fair viaw ol the state ol the charty's affairs as al 31 December 2023 and of ils Incoming resources and application of resources, including ils incorne and expenditure, for the year then ended., have been properly prepare(J in ac￿rdanCe with United Kingdom Gan8rally Accépted Accounllng Practice,. and have been prepared in accordance with the requirom8nls ol the Chafilies Act 2011. 8asl• for oplnlon We conducted our audrt in accordanc8 with Inlemalionol Standards on Auditing IUKI IISAS IUKII and applicable law. OUT responsibilities under those standards are lurther described in the Audltor's responsibiltties for the audit of the financial statements section of our report. We are independent of the charity in accordance with th8 èthical requirernenls that are relevant lo our audll of the finanaal slalements in the UK, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit èvidence we have ebtained is suffi'cient and appropriate lo provlde basis for our opinion. Conclullong r•l•ilng to golng concorn In auditing the financial stalemenls, we have concluded that the Truste88' use of the golng GOn￿rn basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have pgrformed, we have not id8nlified any malerlal uncertainties ￿latIng ILI events or ¢ondilion5 that, individually or collectively, rllay c851 significanl doubt Dn the charity's ability lo continue as a going concern for a pertod of * least ￿e1ve months from wh8n Ihe financial stslements are aulhorisod lor issuo. Our responsibilrties and the responsibilities of the Trustees wth respect to going concern are described in ihe relevant sections of this reporL Page 7

COMMUNITY OF THE HOLY CROSS INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF COMMUNITY OF ThE HOLY CROSS ICONTINUEDI Other Informatlon The other inform81ion comprises the infom)allon Included in the trustees annual report, other than the financial slalemenls and our Audilorfs Report Ihereon. The Trustees a￿ responsible fc*r the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except lo the extent othe￿Ise explicitly stsled in our report, we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other Information and, in doing so, consider wholher the other informatr'on is materially inconsistent ￿￿th the financial slalemenls or our knowledge obtained in the ￿urse of the audit or othew5e appears lo be materially misslaled. 11 we identify 5v¢h malerial inconsistencies or apparent material mi$$talemenls, we are requi￿d lo determine whether this gives rise lo a malerial misstalemenl in the financlal statements themselves. If, based on the work we have performed. we conclude that there Is a material misstalemenl of this other inlorm8Uon, we are required lo report that fact. We have nothing lo report in this regard. M•tt•r• on whlch Mqulred to r•port by •x¢•ptlo W& have nothing lo report in respect ol tre following matters where the Charitie8 (A￿OUnt& and Reports Regulailons 2008 requ+￿ uy lo report lo you if, In our oplnlon.. the infomation given In the finandal 8lalemenls Is inconsi8tent In any malertal r¢spe¢l with the truslee8' report,. or sufficient accounting records have not been k8pI," or the financial statements are not in agreement with the accounting record5,' or we have not received all the information and explanations we require for our audit. R•Jpon•lbllltl•• of Tru•t••¥ As explained more fijlly In the Tnjstees, Respon5ibllilies Statement sel otsl on page 6, the TrLisle88 are responsible for the pieparglion of Ihe financial statements wh￿h give a true and fair view, and lor such internal control as the Trustees determine is necessary to enable the preparatlon of financial statements that are free Irom material misstalemenl. whether due to fr8ud or error. In preparing th8 financial ststemenls, the Trustees ar8 responsible for assessing the charity's ability lo continue as a going concern, disdosing, as applicable, mallers related lo going concem and using the going Concern basis of accounting unless the Trustees either intend to liquida18 thè charity or to cease operations. Or have no realistic altemalive bLrt ID do 80. Page 8

COMMUNrrY OF THE HOLY CR08S INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COMMUNrrY OF THE HOLY CROSS ICONTINUED) Audltol8 rMponslbllltle8 lor th• audSt of the flnanelal statsm•nts We have been appointed as audltor under section 144 of the Charilles Act 2011 an(1 report in accordance wlth the Act and relevant regulations made ¢y having effect Iheffjunder. Our obj•ctNes are to obtain reasonable assurance about whether the financial statements as a Who￿ are f from material misstatement, whether due lo Iraud or error. and to i85ue an Auditorfs Report that indudes our opinion. Reasonable assuT8nce is a hlgh level of 88$urancè. bul 18 not a guarantee that an audit conducted In accordance with ISA5 IUKI will aFways delecl a material mis5ts1en*nt when it exists. Misslalements can arise from fraud or error and are considered material if, Individually or in the aggregate, they could reosonably be expected lo influènce Ihtr e￿nOMiC decisions ol users t8ken on the basis of these financial slalements. Irregul8rtb'e$, Induding fr8ud. are Instances of non<ompliance with laws and regulations. We deslgn procedurés in Ilne with our responsibilities, oullined above, lo delect material misstatements in respect ol irregularitie8. Induding fraud. The extent to which our procedures are capable ol detecting irregul￿168. includin9 fraud 18 detsiled below.. We obtained an under81gndlng ol the legal and regulatory framework8 that are appllcalle to the chadty and delermlned that the most 8ignificanl which a￿ directty relevant to Speclfic assertions In the financial statements are those ￿lated to the flnancial reportlng frameworks (Statement of Recommended Praclce ISORPI, the Financial ReFK)rting Standard applicable in the UK and Republic of Ireland IFRS1021. Charille8 Act 20111 in the jurisdictlon in which the charity operates. We enquif8d of management, whether they were aware of any instance5 of non-comF4iance with laws and regulallons or whethfrr they had any kn￿edge of actual, suspected or alleged Iraud., We assessed the susceplibllity of the en￿ty,$ flnandal statements lo malèrtal mls8ts1ement, includlng how fraud mlght occur.. Our testing consid•rad unusual or unexpected joumal enlrle8 on a 8ampl8 basls,. We evaluated the assumptions and judgements used by management wlthln 8lgnificanl accounllng estimates and assessing if these indicate evidence of managament bia5', We tested significant transactions, in particular the evaluatbon of the ralion8la for any which appear unusual or outside the charity's normal operalis)ns". We assessed the appropriateness ol the coll8Ctive competence and capabilities of the engagement team by understsnding the y8clical experience with audit engagements of a similar nature and complexity, plus ensuring the team had appropriate and fèlevant tralning of the fln8neial reporb"r¥J framework specific lo thg entity. We revlewed the financial stslements and leste¢J the di5dosures against supporting documentation. We communicated relevant matters lo all members of the audit team to ensure they understood the risks specific to the entity and the 8udil proceilures planned to miljgate these. Because of the Inherent limitations of an audf(, there is a risk that we wlll not delect all irregularflies. Including those leading to a material misstatement in the financial slalements OT non<ompliance with regulat￿￿. This risk increases the more that compliance wth a taw or regulation is removed from the events and transactions reflected in the finanaal statements, as we will be less likely to become aware of instances of notFcompliance. The risk is also greater regardlng Irregularities occurring due to fraud rathèr than error, as fraud invofves intentional ￿nCeal￿￿￿t, foi9ery, (y)Ilusign, omission or misrepresentation. A further description of our rtsponsibilits.es for the audit of the financial staternents 15 located on the Finanual R8porting CouncAI's webslte at ukl ies. Thi5 de5cripts.on forms part of our Audil9rf5 Report. Page 9

COMMUNITY OF ThE HIXY CROSS INDEPENDENT AuDIT0￿s REPORT TO THE MEMBERS OF COMMUNITY OF THE HOLY CROSS qCONTINiIEDI U•? of our Foport This report is made 8olety to the charftys Injslees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulatlons 2008. Our audit work has been undertaken so that we might gtste lo the charity's Iruslees those matters we are required lo stale lo them in ar> Aud11orfs Report and for no other purpose. To the fullest exienl pemitled by law, we do nol accept or assume responsibility lo anyone other than the charity and Its Iruslees, as a body. for our audit work, for this report, or for the opinions we have formed. Thè Rowl•y8 Partnevshlp Lld St81ulory Auditor Chartered Accountants Ellgible to act as an auditor In lemis of section 1212 of the Componies Act 2006 Charnwood House Harcourt Way Meridian Bu8ine85 Park Leicester LE19 1WP Dale.. Page 10

COMMUNITY OF THE HOLY CROSS STATEMENT OF FINANCIAL AcnvfriES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted funds 2023 Total fund• 2023 rot•l funds 2022 Nole Incomg from: Donations and legacies Chadtable acb"vits"e5 Investments Other income 6,614 808 390,408 03.827 6,814 808 390.408 63.827 10,581 622 353.221 71,246 Total Incom• 460.6515 460,650 435,670 Exp•ndttur• on: Raising funds Charitable ac#vitles'. Promob"on ol religion Support costs 30.189 30,189 28,105 543,286 30,620 543,285 30.620 494,339 12,060 10 Tot•1 •xp•ndltur• 604.094 604,094 534,504 Net gainslllossesl on investsnenls 481.361 481,361 (1,281, 713) N•t mov•m•nt In fund• 337,922 337,922 (1,380,547) Reconelllatbon of fund•: Total fund5 brought forward Net movement in funds 17,152,406 337,922 17,152,406 337,922 18,532,953 fl,38Q,547) Total fund• carrled fo￿ld 17.490.328 17.490.328 17,752,406 The Slal8m8nt of Flnancial Activities includes all gains and losses rewgnised in the year. The notes on pages 13 to 27 form part ol these ffinancial 5tatement5. AJI activities Telate to continuing operations. Page 11

COMMUNrrY OF THE HOLY CROSS 8ALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Flx•d ass•ts Tangible asse18 Investments 12 13 5,827.379 11,255,521 5,973.223 10, 723,410 Curront aMot• 17,082,900 16,696,633 Debtors Cash at bank and in hand 14 16,688 417.333 15.801 463,476 434.021 479,277 Creditors.. anK)unts falling due within one year 15 126,5931 (23,504) N•t curr•ftt ••••t• 407828 455, 7T3 Total n•t 17.490.328 17, 152,406 Charfty fund* un￿strICted fund8 16 17N90.328 17, 152,406 Totsl fund• 17A90.328 17, 152.406 The financlal stale nts were approved and aulhorlsed for issue by the Truslaes and signed on their behalf by.. Miss Joy Ros• Gough IRev•rend Moth•rl Dale.. 0710512024 Ml•• Ch•rry Ma• Wlse {S•Gr•tsry of Chapt•rl Data.. 0710512024 The notes on pages 13 to 27 form part of these finanThal statements. Page 12

COMMUNrrY OF THE HOLY CROSS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng poll¢le$ 1.1 8as1s of pr•paratlon ol flnanclal $tatemonts The financial slalemenls have been prepared in accordance wbth the Charities SORP IFRS 1021 Accountsng and Reports'ng by Charitie5.' Statement of Recommended Practice applicable IL) charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffecuve 1 January 20191. the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial stalernenls have been prepared lo give a 'lrue and fairf view and have departed frcrn the Charitiès (Accounts and Reports) Regulation$ 2008 only to the extent rèquired lo provlde a 'lNe 8nd faiT' view. This departure ha5 involved following the Charities SORP IFRS 1021 published on 16 July 2014 rather than the Accounting and Reportlng by Chadlie8'. Slalemenl of Recommended Pracoce 8ffective from 1 April 2005 which has since been withdrawn. The preparation of financial $talemenls Sn compli8nce with the Charitie5 SORP IFRS 1021 requires the use of certain crits'cal accounting estimates. 11 also requires managemant to exercise judg8rnent In applying the Companys 8eeounting policieg18ee not• 21. Cornrnunity of the Hdy Cr055 meets the defin￿On of a public benefft enllty under FRS 102. The charity is a unincorporated charity, please refer lo page 1 lor the registèred olfice address. Assets and liabilities are inilialfy ￿cognised al hiBtorical cost or trans￿tiOn value unless othe￿ise staled in the relevant accounting policy. The flnanclal Statements gre presented In Sterling (£1. 1.2 Golng concorn The TnJ8tees have a reasonable expectaUon that the chartty ha5 adequate r880urces lo conilnue in operational existence for the foreseeable fulure. The Community has confirmed that il has adequate cash and investment resouices for 8t least the next 12 months from the date of signing these financlal statements and for this reason they continue to adopt the going COn￿M basis in preparing the financial ststemenls. Page 13

COMMUNITY OF THE MOLY CROSS NOTES TO THE FINANCIAL STATEAfjENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng poliekB Icontlnuedl 1.3 Income All Incomo is recognised once the charity has enlillemenl to the income, it Is probable that the Inwme will be recoved and the amount of inoThe receivable can be measured reliably. The recognition of income from lega¢ies Is dependent on estsblishing enlitlemenl, the probabilty of receipt and the ability lo estimate with sufflcient accuraey the amount receivable. Evidence of entidemenl lo a legacy exists when the chanty has sufficient evidence that a gift has been left lo them Ithrough knowledge of the existence of a valid WMI and the death of the benefactor) and the executor is satisfied that the property in question will nol te required lo satisfy claims in Ihe eslale. Receipt of a legacy must be recognised wh8n il is probat4e that il will be r￿1Ved and the fair value of the amount receivable, which will generally bg the expected cash amount lo be distributed lo the charity. can be reliably moasurad. Income tax recoverable in relatron t¢ dthryalions ￿CeIVed under Gift Ald or daeds of covenant 18 recognised al the b'me of the donation. Income tax recoverable in rel81ion to investment incorne is recognised al the lime the invegtm&nt income Is ieceivable. Other Income is recognised In the p8riod In which It is receivabla and lo the exient the goods have been provided or on complets'on cf the seNce. IA Exp•ndltur• ExpendilL*e is recognised once ihere Is a legal or conslrudive obligation lo Iransfei economic benefit lo a third paty, it is probable that a transfer of economic benEtfils will be requirod in settlement and the amount of the obllgauon can be measured reliably. Expendkure on raising funds includes 811 expenditure InCUr￿d by the charity to raise fvnds for its charitatA8 purposes. Expenditure on charitable activities Is incurred on diroclly undertaking the acbvibes which further the charity's objectives, as well as any associated support cosly. Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in conneclion with Ihe admini5trabon of the charity and compllance with conslilulional and statutory requirements. All expendllure 1$ indusrve of irrecoverablg VAT. 1￿ Int•reJt r•c•lv•blg Inte￿$t on fund$ held on deposit is included when reeewable and the amount can be measurè reliably by the charity.. this is normany upon nolificalion of the interest paid or payable by Ihe inslilulion with whom the fvnds are depjsited. Page 14

COMIAUNrrY OF THE HOLY CROSS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles l¢ontlnuedl 1.6 Tangibl• flxed •**eti and depreclallon Tangible fixed assets costsng £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible )Ixed assets, other than cemetery land, are initialty recogni5ed al cost. After ￿COgnItIon, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurTed to bring a tangl￿8 fixed asset into its intended working condits'on should be Induded In the measurernenl ol eost. Cemetery land18 ￿OgnISed al valuation. Depreciation is charged so as to allocata the cost of tangible fixed assets lèss thalr wsldual value over their e51imaled useful lives. Depreciabon is provided on the followng bases.. Freehold land and buildings Motor vehicles Fixture5 and fillings Computer equipment 2QA Slraighl line 25% Rèducing balance 10% Reducing balanBe 33.330h Reducing balance No depreclalion is provided on hehold land and cemetery land. 1.7 InvMtm•nts Fixed asset inv•stm8nls are a form of financial instrument and are initially r•cognised al their tr8n58Ction cost and subsequently meaSUTed at fair value at the Balance Sheet date, unlos$ the value cannot be measured reliably In which casè Il is measumd at cost le55 impaimiant. Investment gains and losses. whether realised or unrealiged, are combined and presented as 'G8insllLosse31 on investments, In the Statement of Financial Activities. 1.8 Debto Trade and other debtors are recognised al the settlement amount after any Irade discounl offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.9 Ca8h it bank and In hand Cash al bank and in hand Includes Cash and short-lem hlghly Ilquld investrnenls with a short maturlty of three months or less from the dale ol acquisition or opening ol the deposit or sirnilar account. Page 15

COMMUNITY OF THE HOLY CROSS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles {contlnuedl 1.10 Llabllitles and provl¥lon• Liabililles are recognised when thwe is an objigalon at the Balan￿ Sheet dats as a result of 8 past event. il is probable that a Iransler of economic benefit will be required in settlernenl, and the amount of the settlement can be esllmaled reliably. Ll8bilitle5 are re￿gnISed al the amount that the charity anticipate5 11 will pay to Sottle the debt or the amount it has received as advanced payments for the goods or seryi¢es il musl provide. Provisions are measured al the best estimate of the amounts required to sellle the obligation. Where the effect of the lime value of money is malerial, the provision is ba$$d on the present value of those amounts. dlscounled al tho pre-tax discount rale that reflects the risks swifte lo Ihe liability. The unwinding of the discount 15 reeognised In the Statement of Financial Activllies as a finance cost. 1.11 Flnanci•l In•trum•nts The charity only has financial assets and financL41 Ilabilthes of a kind that qualify as basic financial Inslwmenis. Basic financial instruments are initially re¢ognised al transaction value and subsequently measured al their s&￿ement value. 1.12 P•n8lons The charity operates a dèfined contribution pension scheme and the p•n8ion Charge represents the mounts payablo by the charity to the fund in respect of the year. 1.13 Fund aecountlng General lundg are unrestricted fund8 which are available for uge at the discrellon of the Trustee$ in lurtherance of the general objects'ves of the charity and which have not baen designated for olhfjr purpos8S. Crttlcal accountlng e*timate8 and areas of Judg•m•nt Certain amounts included in the financial statements invofve the use ofjudgemenl andlor estsmalbon. The judgements and eslimales are based on the Tnjslees, bèst knowledge of the relevant facts and circumsfances and have regard lo prtor expertence, but actual results may differ from the amounts included in the finanryal 51alemenls. Infcfmation about such judgements and eslimatson uncertainty Is ¢ontained in the accounting policies andlor the notes to the financial statements and the key areas are summarised below. - Fixed asset Investments are mgasured at fair value al the balance sheet date (See 1.7 above). Page 16

COMPAUNIYY OF THE HOLY CROSS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Incom• from donatlons and 1•9•cI•8 Unrnstrictod funds 2023 Total funds 2023 Total funds 2022 Donallons and gifts 5.614 6,614 10,581 Incom• from charitabl• actlvltl Unr•8trfct•d fund¥ 2023 Total fund• 2023 Tot81 runds 2922 Scriptorium 806 622 Inveotm•nt Incom• Unr•8trfcted fund• 2023 Total fund• 2023 To181 funds 2022 Diwdends frDm listed investments Interest received frorn listed investmènts Bank deposit interest 377.409 6.4D8 6.591 377.409 6.408 6,691 350,934 1,604 683 390,408 390,408 353,221 Page17

COMMUNITY OF THE HOLY CROSS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Oth•r IncomlThg r•sourc Unr••trfcted lund• 2023 Totwl fund• 2023 Totsl fund 2022 Slsl•rs' pen$lons Sundry incomo Farmlng income 55,705 7,200 922 SS,706 7,200 56,023 14,301 922 83.827 83,927 71,246 Inv•¥tm•nt managem•nt co•1• Unr•8trlct•d fund• 2023 Tot•1 fund• 2023 Tol81 funds 2022 Investment management fee8 Foreign exchange galn 28,720 1,469 28,720 1.48• 29,213 (1,108) 30,189 30,189 28,105 Page 18

COMMUNITY OF THE HOLY CR088 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Promotlon of r•llglon UnrestriGl¢d Unre$trictsd funds fund5 2023 2022 Special alms (note 9) Profflotyon of rellglon Books and periodicals Church expenses Branch house expenses Motor and travelling expenses Telephone, postag8 and stats"onery Household supplies Gas Electricity Council tax and water Repalrs and renewals Estate, wood18nds and gardens Sundry expenses In8uranc• Wages NaUonal insurance Emptoyerf5 pension contributions Funeral costs Depreciallon Nursing services 44.800 230 468 3,894 27,519 5.713 13,332 11,601 13,515 12,317 2h12 8.446 6,141 8,688 15,339 196.473 10.869 2,795 4,169 146,369 8,465 46,650 220 682 4,330 25,262 5.066 10,467 10,377 15,737 10,686 5, 134 It,338 9, 844 8, 882 13, 761 158,576 7,674 2,539 147,114 543.286 494,339 Alm¥ Unre8trl¢ted Unrestricted funds funds 2023 2022 Made to instilLrtions 44.650 46,650 Grants were made to 4812022- 491 inststutions in the year. There were no grants lo in8th"tulions which exceeded 10% of the income of the Community. An anaty5is of the paymants mada in tha year is as follows.. Page 19

COMMUNrrY OF THE HOLY CROSS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Alms Icontinuedl Unr•strlct•d Unr8Stricted funds funds 2023 2022 Sl Marls PCC, East Leake St GSles PCC, Coslock Franciscan Sisters Roman Catholic of Aberdeen Additional Curates Society Sl Mary PCC Somer Town Oxford Mission Mccabe Educational Trust Mary's Meals Lincolnshire and Ncttlngh8mshlre Air Ambulance Sightsavers FOry￿rd in Faith Framework Housing Association Child￿rn in Oislress Sl Peterfs London Docks Christian Ald Christians Against Povety Trussell Trust Soulhwell Mlnsler Walsingham Coll¥ge Trust Associallon Tree Aid Jesuit Refugee Serwce Pradcal Action Ernbrace the Middle East s￿Iety of Mary and Martha RCD Charities College of St Barnabas St George in the Meadows Christian Partners in Africa CORD Bishop of Beve￿eY Project Fund Anglican Religious Communities Development Fund 3,1)00 3.000 2,SOO 2,500 2,1)00 2.000 2,000 1.000 1,000 1,000 1,000 1.000 1.000 1.000 1,000 1,000 1,000 1.000 1,000 1,000 1,IKIO 1,000 1,000 1.000 1,000 3.000 3,000 3,000 1,000 1,000 1.000 2,000 1,000 1,000 1,000 1,000 1.000 1,000 1,000 1,000 1,000 1.000 1,000 2.600 1,000 1,000 1.000 1,000 1,000 1.000 Page 20

COMMUNrrY OF THE HOLY CROSS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Shrine of our Lady of Walsingharn Confralemity of the Blessed Sacrament Tariro Item5 < £1,000 each 1,000 1,000 1,000 10,110 9,650 44,650 46,650 Support co•ts- Gov8rn•nc• co•t• Unrestrleted UnTeslrieted funds fund8 2023 2022 Audlt ¥ervices Non audit services Profesgional fees 7.086 6.070 17,485 5,940 6, 120 30,820 12,060 Page 21

COMMUNrrY OF THE HOLY CROSS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 11. Staff co•ts Staff costs wore as lonow8: UnrMtrlet•d Unrestricte(I funds funds 2023 2022 Wages and salaries Soaal security costs Pension eo$ts 196A73 10,8e9 2,798 158,569 T,674 2,539 210.137 168, 782 The a￿rage monthly number of employees during the year w88 as follows.. 2023 2022 Full lime Part Ilme No gmployee received remuneralon amountin91o more than £60,W) in either year. No truglegs received any remunoralion12022.. £Nill. DetsllB of tru8tee8 expenses Arv delalled wlthin note 18. Page 22

COMMUNrrY OF THE HOLY CROSS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 12. T•nglble flx•d assets Freehold land and bulldlngs •t Costock Fbxture•, Cemet•ry at Motor flttings and HayvMTds v•hicl•8 computer• H•ath Tot•1 Co•t ov ¥Alu*tlon Al 1 January 2023 Addltlons 7,601,152 31,701 81,033 525 7,713.887 626 Al 31 December 2023 7,601.152 31,701 81.558 7.714812 Depr•cl•llon Al 1 January 2023 Charge for the year 1,671,582 140.023 22,078 47,004 1.740.664 146,369 Al 31 December 2023 1.811.605 60.944 1,887,033 Net book valu• Al 31 D8cember 2023 ,789,547 7,217 30,814 6,827,379 At 31 December 2022 5,929,570 9,623 34,029 5,973,223 I tangible fixed assets are used for chariloble purp05e8. The Iruslees 8re unat4e lo obtain a valuation of the freehold land and buildings al Coslock. The￿ is no reason to suggest that the freehold land and bulldlngs should be Impalred. The gross amount of freehold land and bulldlngs al Costock on vthith depreciatlon Is being provided is £7.001,152. The cemetery at Haywards Heath is revalued ot £1, a nominal value in view ol the purp05e for which il ha5 been used and there being no possibility of any alternative use being considered in the fvture. Page 23

COMMUNrrY OF ThE HOLY CROSS ' :: NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Flx•d a8set Inv•slments Other flx•d Llsted asset Investments InvMtments Total Market valu• Al 1 January 2023 Additions Disposals Revalualiong 10,823.410 4.061.772 14,094,669) 564,998 100.000 10,723,410 4,081,772 14,094.6591 564.998 At 31 Decamber 2023 11,166,621 100,000 11.265,621 N•t book valu• Al 31 December 2023 11.150.821 100.000 11.255,621 Al 37 December 2022 10,623,470 iOO,L700 10, 723,410 Other investments comprise cash held. Al 31 December 2023 the historical cost of listed investments Was £9.596,94612022 £7.513,8661 and the hlstorical cost of other fixed assgt inveslmanls was £100,00012022- £100.0001. The differenee b&￿een tha hlstorical cost and markal value of fisted Inveslrnenls amountlng to £1,558,576 12022 - £3,109,745) is induded wrthin the unreslricled fuiids. Material investments Listed inve5tmen15 which comprise over 5% of the value of the porttolio are.. 2023 CBF Church of England Investrr￿Inl Fund Income Shares 5,749,820 51.5 After the balance sheet dale. the chanty sold all of its invesimenl portfolio held by Quilter Chevlot and transferred the funds to ils investment in the CBF Church of England Fund held by CCLA Investment Management. Page 24

COMMUNITY OF THE HOLY CROSS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 1& D•btov• 2023 2022 Due wrthln •)n¢ yo•r Other debtors Prepayments Tax recoverable 2,737 13,635 416 2,412 12,657 732 16,688 15,801 Indude(I In other debtors 18 £2,129 (2022 - £2,412) owed from trustees as per note 18. 16. Cr•ditor8: Amounts f•llSng du• wlthln on• y••r 2023 2022 Trade credStor¥ Other taxatlon and KKial St￿rfty AGcrualB 1,000 4,228 21,365 2,951 20,553 26,593 23,504 Page 25

COMPIUNrrY OF THE HOLY CROSS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Stst•ment of fund8 Stat•ment of funds - curr•nt yoar Bal4nc• at 1 January 2023 Balanc• •t 31 Galn•l D•c•mber {Lo•sesl 2023 Inct)mè Expendlture Unrestricted funds 17,152.406 460.655 1604.0941 481,361 17.490,328 Stat•m•nl ollund• - pAor y•ar Balance at 1 January 2022 Balan¢• •t 31 Galnw D•camb•r (LoJs8sJ 2022 Incom• Exp•ndlturn Unr•slrlcted fund8 Unrestrlcted Funds 18,532,953 435,670 (534,504J (1,281, 713) 17, 152,406 17. Pon•lon c¢)mmlthi•nt• The Charity operates a defined contn'bulions pension tscheme. The assels of the scheme are held 8eparately from those of the ehar*ty in an independendy administered fund. The ponsion cost charge represents eontribulions payable by the charity lo the fijnd and amounted to £2,795 12022 £2.539). Contribu￿On5 lotalling £nil12022- £nill were payable to the fund al the balance sheet (late. Page 26

COMMUNrrY OF THE HOLY CROSS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 18. Rolatsd party transactlons During the ye8r two Trustees were reimbur8ed expen5e8 incurred for 8tt8nding the Convent lo celebrate mass and for attending the Convent for Trustee Meetings. The Rev'd Canon J8ffery Stewart Hopewell wa5 Pald £15212022 - £251 and The Rev'd Giles Anthony Christopher Orton was paid £18512022 - £231. These amounts w•r• not paid as remunaratr'on for their roles as trustees. Al 310ecember 2023 there are bank balances amounting lo £2,12912022'. £2.4121 held in Iha names of 40 Trustees. These accounts ale held for the purpose Of supporbng tre fvture activrty ef the Community. The balances are included In other deblorslsee nolo 141. AS shown In Note 6 the Sisters donate their pensions to the charty and included in the amount 8h¢)wn Is £20,77912022 - £20.1911 don8led by Trustees. Durlng the year a grant of £2.000 12022.. £1,000) was made Ic Additional Curates Sodety. The Rev'd Gile8 Anthony Christopher Orton is a Iruslee of both charitie8. PMt b4l•nc• •h•ot •v•nts After the balance Bheel dale, the chority Sold all ol ils investment portfolio held by Quiher Cheviol and Ir8nsferred the fvnds to its Investment in the CBF Church of Englpnd Fund held by CCLA Investment Managem¢nl. Page 27