## **POOR SERVANTS OF THE MOTHER OF GOD**
**(Registered Charity No: 227931)**
**FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED**
**31 MARCH 2025**
**POOR SERVANTS OF THE MOTHER OF GOD**
## **YEAR ENDED 31 MARCH 2025**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
|**Trustees**|Sr Margaret Cashman (Chair)|
|---|---|
||Sr Margaret Herlihy|
||Sr Mary Holmes|
||Sr Mary Whelan|
||Sr Juliana Munanie Syengo|
|**Superior General**|Sr Margaret Cashman|
|**Bursar General**|Sr Margaret Herlihy|
|**Principal Office**|Maryfield Convent|
||Mount Angelus Road|
||London SW15 4JA|
|**Auditors**|HaysMac LLP|
||10 Queen Street Place|
||London, EC4R 1AG|
|**Solicitors**|Stone King|
||13 Queen Square|
||Bath BA1 2HG|
|**Principal Bankers**|Royal Bank of Scotland plc|
||250 Bishopsgate|
||London|
||EC2M 4AA|
|**Investment Managers**|Quilter Cheviot Investment Management|
||Senator House|
||85 Queen Victoria Street|
||London EC4V 4AB|
||Sarasin & Partners|
||100 St Paul’s Churchyard|
||London EC4M 8BU|
||UBS Wealth Management|
||5 Broadgate,|
||London EC2M 2AN|
||CCLA|
||One Angel Lane|
||London EC4R 3AB|
|**Estates Manager**|Burnet Ware & Graves|
||Chartered Surveyors|
||13 Half Moon Lane|
||London SE24 9JU|
|**Website**|www.poorservants.com|
|**Charity Registration No**|227931|
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**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Introduction**
The Trustees present the annual report of the Charity of the Poor Servants of the Mother of God for the year ended 31st March 2025.
_In this year of both stability and transition, the Charity continued to respond with compassion and quiet faith to the needs of the time — through care services, outreach ministries, and international mission work. Inspired by the vision of our foundress, Venerable Frances Margaret Taylor, we remain committed to serving those who are poor, vulnerable and marginalised._
## **Our Structure at a Glance**
## **The Congregation**
An international religious community of Catholic Sisters, founded in 1869.
## **The Charity**
Registered as “Poor Servants of the Mother of God” in England and Wales (No. 227931). Holds UK assets and governs charitable activity.
## **Frances Taylor Foundation (FTF)**
The operational name for social care, retreat, and pastoral work in the UK. Not a separate legal entity.
## **Who We Are**
The Poor Servants of the Mother of God was founded in 1869 by Frances Margaret Taylor to serve the poor and marginalised through care, education, and spiritual accompaniment. Today, the Congregation continues this work across the UK, Ireland, Kenya, Tanzania, and Italy, with around 160 Sisters worldwide.
## **From the Foundress:**
Serve God always but not always in the same way.
## **Our Mission**
The Charity works to advance the life and mission of the Congregation through four core aims:
1. The advancement of the Catholic religion
2. The relief of poverty
3. The advancement of education
4. The advancement of the religious and other charitable works of the Congregation
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**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Our Mission in Action**
- **Social Care** : Residential and supported living services for elderly people and adults with learning disabilities.
- **Spiritual Outreach** : Pastoral care, prison chaplaincy, spiritual direction, and support for parishes.
- **Education** : School partnerships, adult education and literacy programmes.
- **Retreats & Prayer** : The Kairos Centre and other locations offer accessible spiritual reflection and hospitality.
- **International Mission** : Healthcare, women’s empowerment, education and formation in East Africa.
## **Charity Commission Compliance**
The Trustees have paid due regard to the Charity Commission’s guidance on public benefit in exercising their duties and planning activities for the year. The Charity's work is open to all and delivered in partnership with public bodies, community groups, and local Churches.
## **Looking Ahead**
In the year ahead, we remain committed to deepening our presence in the communities we serve. This includes ongoing care and outreach in the UK, strengthening governance and sustainability in our overseas missions, and supporting the spiritual and vocational life of our Sisters.
## **Activities**
The aims and mission activities of the Charity can be broadly categorised into the following core areas each reflecting its strong commitment and service to wider community:
## **A. Residential and Nursing Care Services**
The Charity continues to provide high-quality residential and nursing care for older adults and people with learning disabilities across several UK locations. Services are inclusive, person-centred, and offered in the spirit of the Charity’s mission — with a particular emphasis on dignity, compassion, and spiritual presence.
All services are open to the public and not restricted to members of the Congregation. Local authority funding remains the primary income source, supplemented in some locations by charitable donations and private contributions.
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**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **A. Residential and Nursing Care Services (continued)**
We provide residential care across 5 locations, including Roehampton, Brighton, Liverpool and Brentford. These services range from being a home with 7 beds to homes with 42 beds across three floors. Whilst some of our homes are considered large homes, they each have a dedicated staff team to every floor or area. Our service at St Joseph’s in Liverpool is divided into 3 separate homes, known as ‘Woodlands’, ‘Pine Lodge’ and ‘Sea View’. The structure within our services includes a Service Manager, a Deputy Service Manager, Team Leaders, Senior Support Workers and so on. It is our aim that there is a senior member of staff on shift at all times.
_Feedback from relatives of JT – ‘we wish that JT had found St Raphael’s 8 years ago when our mum died. She would have had a much better quality of life. She loves being at STR and feels like she belongs’._
_Feedback from a Social Worker from Westminster: “I would like to thank you both immensely for all the care and support you provided to LXXXX at St Raphael’s. You are truly one of the most amazing care providers I have ever worked with. I cannot thank you enough for giving LXXXX the quality of life she deserved.”_
## **B. Supported Living and Community Services**
In Brighton and across Liverpool, the Charity provides supported living arrangements for adults with varying levels of need. These settings promote independence, wellbeing, and social connection in community-based environments. The people we support in these settings are encouraged to maintain their own tenancies and to be active members of their community. The people we support enjoy going on holidays abroad, cruises and to shows at their local theatres.
In Sefton (Liverpool), five tenancies offer bespoke support for adults with complex needs. Across the year, 325 weekly hours of care were delivered, with 80% average occupancy. A related day service, Fernley Resource Centre, welcomed 39 external clients and 22 residents, with daily attendance averaging 30.
## **C. Day Services and Meaningful Activities**
The Charity continues to invest in day services that foster community, creativity and engagement.
At St Mary’s, Roehampton, 15 residents participate in daily activities including arts and crafts, group reflection, and music therapy. The service is also available on a Saturday; this is proving very popular with the residents at St Mary’s.
Fernley Resource Centre in Sefton continues to offer a wide range of structured day activities — from therapeutic group work to recreational outings — supporting adults with disabilities and mental health challenges in building confidence and independence. Fernley Resource Centre has begun accessing different activities within the local community also, allowing the people who attend Fernley to become active members of their community.
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**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **C. Day Services and Meaningful Activities (continued)**
Some people we supported attended Peoples First Session run by Sefton Council with peers – they really enjoyed being part of the group advocacy and will be attending regularly moving forward.
_A person we support at Fernley Resource Centre has been suffering from severe anxiety and hasn’t been accessing the community for a length of time, the staff team worked with this individual and their mum over a period of time and built up their confidence to enjoy a day out in the minibus. The person we support, the staff team and the individual’s mum were delighted with the outcome, as this was a huge achievement for all involved._
_A person we support has been learning to play the clarinet and brought it along to a group meeting where he performed two songs._
## **D. Retreats and Spiritual Ministry**
The Kairos Centre in Roehampton continues to be a vital hub for spiritual reflection, community formation and quiet renewal. It welcomed 2,965 guests over the year, hosted 11 retreats for 164 guests, and ran individually guided retreats for 17 retreatants. The provision of Quiet Days for visitors remained very popular with 45 bookings between 1st September 2024 to 28th January 2025 alone. Moreover, we remain a popular venue for local schools (particularly Marymount International School and Donhead Preparatory School) and for Congregations – who organise weeklong Chapters and Retreats; the Augustinians, Comboni Fathers and the Sisters of Mercy are a few specific examples.
The Centre is open to people of all faiths and none, with a particular welcome to those in ministry, religious life, and lay service. Guests come for a wide variety of reasons — prayer, retreat, recovery, or simply peace. Feedback remains overwhelmingly positive.
A second retreat space, St. Joseph’s Prayer Centre, in Liverpool continues to offer hospitality and spirituality in a prayerful and peaceful environment to small groups and individuals. Situated adjacent to the National Trust woodland and to Formby beach, it provides an oasis of quiet harmony and peace to individuals and groups, either on a residential or non-residential basis.
Both locations are animated by the presence and prayer of Sisters, who support and accompany guests throughout their stay.
## **Operation of Prayer and Retreat Centres and Chapels**
St. Joseph’s Prayer Centre serves Individuals of different religious beliefs, Sisters, Clergy and Laity enjoy contemplative space, spiritual direction, retreats and workshops.
Groups, use the facilities for ongoing training, review, renewal, sharing of ideas and ideals. Among these are Religious Sisters, Parish groups, lay organisations, professional groups. During the past year the number of groups has increased by 5%. The cultural and religious diversity has also increased. All evaluations mention the atmosphere of peace and hospitality experienced by our guests. Our diary shows that many groups renew bookings on a monthly or annual basis. Most new groups discover our existence as a result of the testimony of others and are very satisfied with our facilities. Our weekends are our busiest times. More than 85% have been fully booked during the past year. We are also receiving bookings into the year 2026.
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**POOR SERVANTS OF THE MOTHER OF GOD**
**TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Operation of Prayer and Retreat Centres and Chapels (continued)**
On week-days many local schools, primary and secondary, use our facilities to offer an “away experience” to students. Teachers find that our premises are ideal for indoor and outdoor activities and also appreciate the provision of a more intimate “prayer space”. College students from Liverpool have also enjoyed some time here.
The Centre aims to operate on a sustainable basis, but those who need assistance are never refused.
Since the Prayer Centre shares the ground-space with St. Joseph’s Nursing Home which cares for people with profound disability, many guests are also very touched to see this expression of the practical personal care provided here.
At Kairos Centre between 1st April 2024 and 31st March 2025, 2,881 rooms were sold compared with 3,793 rooms sold the previous year. The former figure equates to an occupancy rate of 28.4% for the year. Of this number, 1,461 were for individual guests and 1,420 were for guest sizes more than 1. Lower occupancy in 2024 coincided with the cancellation of some retreats due to low interest and attendance and Kairos Centre Manager’s unexpected extended leave. Booking activity increased following a slowdown in spring in the current financial year.
In summary, a total of 2,965 overnight guests stayed at the Centre. Furthermore, a total of 172 people came for Quiet Days.
|**Month**|**Number of rooms sold**|**Number of overnight guests**|
|---|---|---|
|April 2024 (2023)|86 (335)|87 (395)|
|May|194 (338)|197 (356)|
|June|314 (374)|324 (383)|
|July|276 (424)|288 (439)|
|August|337 (393)|348 (409)|
|September|334 (320)|338 (338)|
|October|372 (399)|383 (405)|
|November|276 (240)|282 (246)|
|December|191 (206)|191 (206)|
|January 2025|158 (164)|91 (91)|
|February|148 (235)|154 (256)|
|March|195 (438)|209 (484)|
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**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Operation of Prayer and Retreat Centres and Chapels (continued)**
Between 1st April 2024 and 31st March 2025, there were 10 residential retreats of which 9 were Preached Retreats and attended by 153 guests. The remaining retreat was a dedicated Individually Guided Retreat, attended by 8 retreatants overall. We continue to be mindful of the popularity of these retreats amongst religious communities on the one hand and the natural occurrence of ageing populations and deaths within this cohort on the other.
A new price list was established in April 2024, and we continue to monitor how this affects bookings and income.
Questionnaires continued to be a key tool in evaluating the retreats that were hosted at Kairos. For example, following the preached retreats that took place in September and October 2024, a total of 25 evaluation forms were completed. 100% of those provided Excellent/Good ratings. Similarly, of the 11 evaluation forms received from the retreatants on the December 2024 Advent Triduum retreats, 100% gave Excellent/Good ratings.
Furthermore, Kairos has continued to host the internal management training programmes facilitated by WorkNest. Managers and Service Managers from within the Frances Taylor Foundation participated in this programme. Five courses were delivered between April 2024 and March 2025.
Feedback from the WorkNest Management Training sessions has also proved constructive. Of 14 evaluation forms that were returned after a course, 12/14 rated Kairos 9 or 10 out of 10 and the remaining 2 rated Kairos 8/10.
Since the creation of the new Spiritual Team in March 2024, we hosted another gathering in September 2024 to outline 2025 events and one other member has since joined the Team. It is hoped that their background, training and expertise will help with Kairos provision going forward.
New developments since last year in Kairos
Following an inspection by the Environmental Health Officer in October 2024, we were delighted to maintain the top rating of 5 for Food and Hygiene.
Due to ongoing cost and issues with the card machine and provider, we replaced that contract with another one provided by TakePayments/EVO whose card machine and technical support are much more beneficial for the overall operations at Kairos.
With regards to new building works, extensive work has been undertaken in one of the communal bathrooms, which has now been converted to a shower room and some of the ensuite bathrooms have updated shower facilities. The Lift was updated with a new emergency telephone system inserted. The Summer House was completely refurbished and a new boiler was installed for the Chapel. New kitchen equipment including a double door commercial freezer and food mixer were also purchased.
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**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
**Operation of Prayer and Retreat Centres and Chapels (continued)**
## **New IT developments**
The new website for the Kairos Centre was launched in February 2025. We are hoping that this will enhance our digital presence and enable us to secure more bookings as a result.
## **Recruitment of staff**
In July 2024, we bid farewell to a PSMG sister who returned to Kenya to continue her vocation and work there. She was a valuable member of the Bookings Team and a notable presence at Reception. Following her departure, another member of the Bookings Team was transferred to Reception and this has proved to be beneficial to the day-to-day operations of the Centre.
In September 2024, we were delighted to hire a new Kitchen Assistant, who has since passed her probation and it is hoped that her appointment will be a very fruitful one.
A part-time contract was established for the in-house Spiritual Director and this was confirmed in March 2025.
## **Interesting Activities**
On a weekly basis, the Kairos Centre continues to be used as a dedicated space for AA meetings.
In March 2025, a meeting was held with the Director of a local service ‘Our Roehampton’ to plan a Christmas gathering for the elderly in December 2025.
The Kairos Centre provides a room for a practitioner/therapist from the Healing Hands network to offer Holistic massage and Aromatherapy to guests who may wish to benefit from this therapy.
## **E. Public Benefit and Access**
All UK-based services are operated with the intention of serving the public good. Care homes are registered with relevant regulatory bodies and operate in partnership with local authorities. Retreat centres, chaplaincy work and pastoral outreach are offered without discrimination or requirement of faith, and are either free or offered at low cost, ensuring accessibility.
The Charity ’s support for people with disabilities, older adults, refugees, and those experiencing isolation demonstrates clear public benefit. This work is made possible through the dedication of Sisters, staff, volunteers, and partners.
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**POOR SERVANTS OF THE MOTHER OF GOD**
**TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **UK Activities**
The Charity undertakes a range of initiatives to support communities across the country, focusing its efforts on health, education, poverty alleviation, and the facilitation of religious and spiritual services.
## **A. Residential and Nursing Care Services**
Our residential care homes continue to support older adults with dignity, compassion, and faithinformed care. Services are inclusive and open to people of all backgrounds.
|**Location**|**Type**|**Capacity**|**%Occupancy**|**Funded by**|**CQC / Recognition**|
|---|---|---|---|---|---|
|Maryville,|Residential/||99|Mixed|Top 20 Care Homes in|
|||39||||
|Brentford|Nursing|||(LA/private/charity)|London(Carehome.co.uk)|
|||||||
|St Joseph’s,
Freshfield|Residential|36|69|Local authority and
NHS|CQC: Good|
|St Mary’s,|||95|Local authority|CQC: Good|
||Residential|40||||
|Roehampton||||||
|||||||
|St Raphael’s,|||95|Local authority|CQC: Good|
||Residential|21||||
|Brentford||||||
|||||||
|Marina,|||98|Local authority|CQC: Good|
|Brighton &|Residential|9||||
|Hove||||||
|Laverstoke|||100|Local authority|CQC: Good|
|Gardens,|Residential|7||||
|Roehampton||||||
_Quote from a Resident: “The care I receive here is like being part of a family — people genuinely listen and look after you.”_
_Quote from a family: “This is to all the carers who are so wonderful with X. We are so grateful for the brilliant atmosphere and the rapport at Marina. X is in such a special place – her home.( Y – X’s brother).”_
_“Our grateful thanks for all you have achieved with K’ ( J, K’s Mum).”_
_“Thank you, Lisa... for this and for EVERYTHING you did to help me make my darling A's funeral take place in the Chapel and make it so memorable and special._
_Valeria and I were so affected by seeing so many Service Users, carers and management staff standing on the pavement clutching a solitary rose... we were not expecting that! All our family members and friends commented emotionally about it and also on Richard's beautiful Eulogy on behalf of everyone at St Mary's._
_I intend to send our thanks in a card to you and all at St Mary's but, first, I have to go buy one! Thank you, again for all the care and kindness that A received at St Mary's over the past 15 years._
_Feedback from a recent incident involving paramedics: “we always know when we come here (STR) that it isn’t a waste of our time, and the residents are the best cared for. Your staff are lovely too – always so welcoming, even if it is an emergency.”_
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**POOR SERVANTS OF THE MOTHER OF GOD**
**TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **B. Supported Living and Day Activities**
We provide community-based support services in Brighton, Liverpool, Sefton and Roehampton. These services focus on maximising independence, wellbeing, and community participation.
## **Key highlights:**
- **Brighton:** St Anne’s apartments offering supported living services to 12 individuals.
- **Liverpool & Sefton:**
- Liverpool Adult Service supported 39 people with personal care and housing related support exceeded 1,400 hours per week.
- Sefton Supported Living delivered 325 hours of individualised care each week across 5 tenancies. Weekly occupancy reached 80%.
- Fernley Resource Centre (Day Centre) hosted 39 external clients and 24 residents, offering structured day support.
## **St Mary’s Roehampton:**
A 6 day a week centre offering engaging activities and community for approx. 15 on-site residents per day. Activities range from cooking, chair-based exercise, board games, gardening, arts and crafts, drama, video and music.
## _**Quote from an attendee**_
_We are very happy the day centre is now open on a Saturday; we would like it to be opened on a Sunday too._
## **C. Education and Adult Literacy**
The Charity continues to support Catholic education through the provision of buildings and governance expertise.
- Three schools (in Banstead, Amersham and formerly Chippenham) are leased at peppercorn rents, collectively valued at approx. £5 million.
- Sisters or representatives serve as school governors, contributing to ethos, Religious Education, and pupil wellbeing.
- In collaboration with the Hospitaller Order of St John of God, the Charity supports TB rehab and adult education for migrant workers.
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**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **D. Pastoral and Spiritual Outreach**
This work remains central to the Charity’s identity and is largely carried out on a voluntary basis by Sisters across the UK.
## **Key areas of outreach include:**
- Hospital and hospice visiting
- Parish and sacramental support (Rite of Christian Initiation of Adults, Eucharistic ministry)
- Spiritual direction, Scripture reflection, and prayer groups
- Ministry to migrants, refugees, people in addiction recovery, and the bereaved.
- Written contributions to Catholic publications.
## **Voluntary Contribution at a Glance**
- Sisters are involved in pastoral work across the UK
- Work is entirely voluntary — stipends covenanted back to the Charity
- Includes administration, community presence, retreat and prayer ministry
## _**Reflection from someone visited by a sister**_
_“ I am so lucky to have you; where would I be without your visits? Thank you Sister and may God bless you for what you do for me and for all the others who need you so much.”_
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**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **E. Staff Training and Development**
We remain committed to developing our teams through structured training and vocational progression. Our Senior Managers have just completed a 12 month managerial training programme offered through our HR partners at WorkNest. This has included topics on Absence Management, Equality, Diversity and Inclusion, Managing Mental Well Being, Menopause, the new legislation regarding Sexual Harassment in the workplace.
All staff across FTF have received training and development for the new electronic care document system ‘Nourish’, with all services going live across the organisation in October 2024.
## **Services – Staff Qualifications**
|**Services – Staff Qualifications**|**Services – Staff Qualifications**|**Services – Staff Qualifications**|**Services – Staff Qualifications**|**Services – Staff Qualifications**|**Services – Staff Qualifications**|**Services – Staff Qualifications**|**Services – Staff Qualifications**|**Services – Staff Qualifications**|**Services – Staff Qualifications**|
|---|---|---|---|---|---|---|---|---|---|
||**Total**
**number of**
**employees**|**NVQ2**
**or QCF**
**equivalent**|**%**|**NVQ3**
**or QCF**
**equivalent**|**%**|**NVQ4**
**or QCF**
**equivalent**|**%**|**RMA /**
**Management**
**QCF**
**equivalent**|**%**|
|**Marina, Lansdowne Road,**
**Hove**|12|3|25|3|25|1|8.5|2|16|
|**Laverstoke Gardens,**
**Roehampton**|12|1|8.3|4|33|2|16.7|1|8.3|
|**St. Mary's Roehampton**|59|11|18.6|10|16.9|
2|3.4|2|3.4|
|**St. Raphael's**|44|3|6.8|4|9|-|-|-|-|
|**Maryville**|67|6|9|4|6|2|3|3|4|
|**Liverpool Adult Services**|63|58|92|15|23.8|
5|8|6|9.5|
|**Fernley Resource Centre,**
**St. Joseph’s, Freshfield**|38|10|26.3|10|26.3|
-|-|-|-|
|**St. Joseph’s Home,**
**Freshfield, including**
**L37 Short Breaks Service**|68|23|33.8|16|23.5|
2|3|7|10.3|
|**Extra Care Supported**
**Living (at St Anne’s **|12|1|8.3|8|66|1|8.3|1|8.3|
|**Sefton Supported Living**|10|6|60|1|10|1|10|-|-|
## **Key Statistics**
- Across FTF, 27% of staff have completed a Health and Social Care level 3 or above.
- Across the Charity, 11 care staff are working towards their Level 2–5 qualifications, including maintenance, senior Leadership and Human Resources.
- Ongoing training includes safeguarding, health & safety, dementia care and leadership.
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**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **F. Key Performance and Outcomes**
## **Occupancy and use data [sample]:**
- Maryville maintained high occupancy and was again ranked in the Top 20 care homes in London.
- Sefton Supported Living: 80% occupancy, 325 hours of support/week
- Kairos Centre welcomed 2,695 residential guests over the year.
## **At a Glance - 2024-2025**
- 154 residential care places
- 56 supported living tenancies
- 78 clients in day services including 39 residents
- 3 leased school sites
- 10 residential retreats and individually guided retreats for 17 retreatants
- 400+ staff receiving training or qualifications
- Fernley averaged 30 participants/day for day activities 10+ staff receiving training or qualifications
Poor Servants of the Mother of God continues to make meaningful impact on wide range of communities throughout various regions in the country. Through its own initiatives and collaborations with likeminded organisations the Charity aims to improve the lives of many disadvantaged individuals and support them in leading dignified lives.
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## **POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Overseas Outreach**
## **Our Mission in East Africa**
Since 1985, the Poor Servants of the Mother of God have supported communities in East Africa through a deeply relational, faith-driven model of service. Rooted in the charism of our foundress, Frances Taylor, and the priorities of our local Sisters, we focus on healthcare, education, women’s empowerment, and spiritual accompaniment.
Today, we operate eight main mission communities in Kenya and Tanzania— in Mutito, Mulutu, Mwingi, Ting’ang’a (Kiambu), Chepchoina, Sirende (in Kitale), Ikutha (Kitui) and Huruvi (Tanzania).
## **East Africa Outreach – 2024–2025 Highlights**
- 43,372+ patients treated at mission clinics
- 90+ children supported in early years education
- 80+ young people given technical skills
- 138 women involved in livelihood and enterprise projects (e.g. leatherwork, sports ball production)
- 2 Kenyan Sisters made final profession
- 1 tractor purchased for agricultural income generation
- Construction of new convent in Mwingi
- Continued TB and HIV outreach in underserved areas
- Ongoing catechetical, retreat and parish ministry
Images and testimonials from mission communities have been included throughout this section.
## **A. Healthcare and Clinics (Mutito & Mulutu)**
Our dispensaries in Mutito and Mulutu continue to provide frontline health care to communities with limited or no other options. Services include:
- General outpatient treatment
- Maternal and child health support
- Health education
-
- Home visits and outreach clinics
-
- Comprehensive care clinics for people affected by HIV
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**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Overseas Outreach**
**Our Mission in East Africa**
## **A. Healthcare and Clinics (Mutito & Mulutu) (continued)**
By March 2025, over 25,000 people in Mutito Health Centre and 18,000 in Mulutu accessed treatment. Cases of tuberculosis, HIV, and malnutrition remain high, particularly in remote areas. Through partnerships with the Kenyan Ministry of Health, the Diocese of Kitui and donors especially Misean Cara, we deliver both care and health education, ensuring families are supported holistically.
## _**Quote from community member, Catherine:**_
_“ Without the Sisters, we would not be able to get medical care for ourselves and our children. They are our first and only clinic.”_
Kwamuta outreach clinic home visit
We are grateful to God for having an increased number of inpatients and outpatients in our facility, as well as newborn babies. We thank Sr Nora Daly in a special way for bringing some crocheted clothes for the babies.
## **B. Education and Youth Training (Mwingi)**
Education remains a pillar of our outreach. In Mwingi:
- Our kindergarten supports 92 young children with early education.
- 60 needy children get a daily meal to help them remain in other neighbouring public schools.
- An adjoining polytechnic offers tailoring, hairdressing, and other skills training to over 120 local youth and young mothers.
- Many graduates use these skills to find work or support their families through small enterprise.
The Mwingi community also hosts adult literacy and English classes — often attended by women who did not have access to formal schooling as children.
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**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Overseas Outreach**
## **Our Mission in East Africa**
## **B. Education and Youth Training (Mwingi) (continued)**
One of the Kindergarten classes with two teaches from Ireland.
FTFLC students and preparatory school kids during environmental day.
## **C. Women’s Empowerment and Local Enterprise**
We support income-generating projects as part of our vision for long-term sustainability. In Mwingi, a women's self-help group meets weekly for prayer, shared learning, and enterprise.
Activities include:
- Leatherwork and shoe repair
- Manufacturing and stitching sports balls
- Gardening and kitchen farming
- Small livestock rearing
## _**Short story from student at the polytechnic:**_
_“ My name is Mwikali, and I grew up in a poor neighbourhood in Mwingi where life was a daily struggle. My mother did odd jobs to keep us alive, but at 17 I became pregnant, which made life even harder. In 2023, I was welcomed by the sisters into the FTFLC and trained in Food and Beverage. I earned my NITA Grade 3 qualification and was hired in the Centre’s production unit because of my strong cooking and baking skills. Today, I earn an income that supports my child and have even started building a small house for my mum and me.”_
- 16 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
**YEAR ENDED 31 MARCH 2025**
## **Overseas Outreach**
## **Our Mission in East Africa**
## **C. Women’s Empowerment and Local Enterprise (continued)**
The recent purchase of a tractor has strengthened local agriculture efforts and enabled Sisters and community members to produce food both for household use and local sale.
## _**Short story about income raised from crops or goods sold:**_
_“ My name is Mwende, a 60-year-old woman from Mwingi. I live with my daughter, who gave birth while still in Primary school, and I care for her two children. When life became too difficult, I turned to the sisters for support, and they welcomed me into the women empowerment group. Through table banking and the seed money I received, I was able to buy a goat and start selling bananas at the market. These small steps have made a big difference, helping me feed the family and educate the children.”_
Students attending the Catering class FTFLC.
Local women being trained on how to do grafting of Mango trees.
- 17 -
**POOR SERVANTS OF THE MOTHER OF GOD**
**TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Overseas Outreach**
## **Our Mission in East Africa**
## **D. Pastoral and Spiritual Ministry**
Each of our missions is grounded in a rhythm of prayer, hospitality, and accompaniment. Sisters support parishes, visit homes and hospitals, and run catechetical programmes for children and adults.
## **Examples include:**
- Sisters work and animate the Pontifical Missionary Children (PMC) in the parishes where they reside
- Sunday school and sacramental preparation
- Parish retreats and Scripture groups
- Bereavement support and home blessing
- Youth groups and faith formation
In Sirende and Ikutha, we continue to develop a new spiritual outreach hub, with building works underway for a convent and retreat space. The Sisters’ presence there is already drawing interest from women discerning religious life and from local families seeking prayer and support.
Educating children to visit the sick and elderly and to understand the joy of giving.
- 18 -
## **POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Overseas Outreach**
## **Our Mission in East Africa**
## **E. Formation and Local Vocations**
## _**Quote from Mary:**_
_“ They are not just missionaries — they are our neighbours and our hope.”_
We are committed to supporting local vocations through formation, education and accompaniment.
- In 2024 – Four Sisters made their final vows.
- In 2024 - 2025, 7 Kenyan Sisters made their first profession.
- Several women are currently in postulancy or novitiate.
- Vocations are accompanied locally, with oversight from the UK-based Formation Team.
- The Tanzanian mission is developing as a second African community.
This long-term investment in local leadership is central to our vision of sustainability.
122 women under the livelihood project in Ikutha getting tea during training sessions.
Huruvi (Tanzania): By utilising drip irrigation, water is conserved, whilst crop yield is maximized, thus helping to feed the poor and train them to improve their livelihoods.
- 19 -
**POOR SERVANTS OF THE MOTHER OF GOD**
**TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Overseas Outreach**
## **Our Mission in East Africa**
## **F. Governance, Oversight and Sustainability**
We are deeply conscious of our responsibility to ensure transparency, good stewardship, and sustainable impact.
- Five UK-based Trustees also serve on the Kenyan-registered trusts and visit regurlarly, ensuring strong alignment.
- Funds are disbursed in instalments and tied to approved project budgets.
- Annual accounts, reports and narrative updates are reviewed by UK trustees.
- Local Sisters manage procurement, staffing and monitoring in line with project goals.
- Our Accounts are audited independently annually and report sent to UK Trustees and finance team.
Our aim is to build mission communities that are locally led, spiritually rooted, and less dependent on external funding. Through vocational formation, small-scale enterprise and active governance, our East African outreach is moving steadily toward long-term sustainability.
## **G. A Shared Mission of Hope**
As we reflect on another year of joy and challenge, we give thanks for the resilience of our Sisters and the communities we walk alongside. Each clinic visit, lesson taught, field harvested, and prayer offered is part of our shared mission — to serve the poor with love, humility and hope.
## _**Quote from Sister Cecilia:**_
_“ I find great joy in my mission as a sister working at Mulutu Catholic Health Centre, where each day I witness the struggles of poor mothers from distant villages and feel blessed to help them access primary healthcare and live with hope.”_
- 20 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Governance and Risk Management**
## **A. Governance and Legal Structure**
The Charity of the Poor Servants of the Mother of God is governed by a Trust Deed, most recently updated in 1957. It is a registered charity in England and Wales (No. 227931), and its corporate trustee is the Incorporated Trustees of the Poor Servants of the Mother of God. The Charity is regulated by the Charity Commission and operates in accordance with UK charity law.
## **Governance at a Glance**
- **Legal structure** : Incorporated charity governed by Trust Deed
- **Regulator** : Charity Commission for England and Wales
- **Trustees** : Members of the Congregation, appointed by the Superior General
- **Meetings** : Monthly, with regular agenda of safeguarding, finance, mission and operations
- **Advisors** : External consultants support legal, financial, property, investment, and HR matters
- **Operations** : Day-to-day activity delegated to local service leaders and mission teams
## **B. Trustee Roles and Training**
All Trustees are members of the Congregation and serve in a voluntary capacity. They bring to their roles deep familiarity with the mission and charism of the Charity, as well as significant lived experience in care, education, spiritual leadership, and management. No Trustee receives payment or personal benefit from their role.
Trustees receive regular updates on charity law, regulatory requirements, and best practice in governance. During the year, this included webinars, briefings, and legal updates on safeguarding, investment strategy, property management, and risk. Relevant reading is shared, and key topics are discussed at meetings. External advisors attend as needed to support complex or technical decisions.
## _**Quote from Trustee**_
_“ As Trustees, we have attended a number of webinars on the duties of Trustees and also on Safeguarding during the year. We found some challenging but on the whole they were most helpful._
_We are also pleased to have engaged ARC to advise us on our investments. Their involvement and advice has been invaluable and gives us an extra sense of security with regard to our portfolios.”_
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**POOR SERVANTS OF THE MOTHER OF GOD**
**TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Governance and Risk Management**
## **C. Oversight and Accountability**
Trustees meet monthly, with formal minutes and agenda papers circulated in advance. Decisions are recorded and reviewed, and trustees receive regular narrative reports from those responsible for key areas (e.g. care services, property, finance, overseas missions). Trustees also review accounts, budgets, fundraising performance, and regulatory compliance throughout the year.
Specific decisions reviewed this year included:
- Oversight of overseas project funding and governance
- Safeguarding updates and risk register reviews
- Investment performance and ethical policy compliance
- Consideration of future planning for aging members of the Congregation
- Review and approval of staff pay, including pay arrangement of key management personnel , in line with policy and regulations
## **D. Risk Management and Internal Controls**
The Trustees actively manage risk across all areas of the Charity’s work. A central risk register is maintained and reviewed at least annually. Local risk assessments are conducted for each service and updated regularly. Where appropriate, external advisors or regulators (e.g. CQC) support risk identification and compliance.
## **Key Risks and Mitigation**
|**Risk**|**Impact**|**Mitigation**|
|---|---|---|
|||
Regular audits; staff training; policy|
|Care compliance|CQC findings; reputational risk||
|||
reviews|
||||
|Safeguarding|Harm to vulnerable people|CSSA policies; DBS checks; designated
officers|
|||Scheduled maintenance; external|
|Property condition|
Legal liability; safety issues||
|||inspections|
||||
|Financial
volatility|Reserves pressure on individual
units; sustainability|
Investment oversight; conservative
budgeting, able to sustain the deficits in
individual units|
|AgingSisters|Increased care needs|Investment allocation; serviceplanning|
The Trustees recognise that some level of risk is inherent in charitable work and seek to manage rather than eliminate risk. This is especially true in the context of international outreach and changing care sector demands. Where necessary, specialist advice is sought to ensure informed and balanced decision-making.
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**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Governance and Risk Management**
## **E. Safeguarding**
Safeguarding remains a core priority of the Charity. Trustees follow the safeguarding policy and procedures of the Catholic Safeguarding Standards Agency (CSSA). All Trustees, staff and volunteers are subject to enhanced DBS checks and undergo regular safeguarding training.
The designated safeguarding officer oversees compliance and responds to concerns in accordance with both civil and ecclesial guidance. Regular safeguarding updates are presented at trustee meetings, and all services maintain up-to-date local safeguarding policies and procedures.
## **Safeguarding officer** Elizabeth Bano
Email : Elizabeth.bano@psmgs.org.uk
## **Financial Review**
## **Overview**
In 2024–2025, the Charity maintained stable operational income while navigating continuing volatility in the investment markets. Income from care services and returns from investments remained the primary funding streams, alongside donations, grants and other income. Operating expenditure increased in line with staffing and inflationary pressures across the health and social care sectors. With an overall increase in net funds, the Charity retains a strong financial position and remains committed to prudent long-term planning.
## **Financial Overview 2024–2025**
|**Financial Overview 2024–2025**||
|---|---|
|**Category**|**Amount**
**£**|
|**Total Income**|**24,009,238**|
|– Charitable Activities (Care Services)|16,390,427|
|– Charitable Activities (Supported Living, Retreat Centre||
||1,066,163|
|Fees &Rentonpropertieslet forcharitable purposes)||
|||
|– Investment Income|4,006,900|
|– Donations & Other Income|2,545,748|
|**Total Expenditure**|**20,195,854**|
|– Staff Costs|13,775,599|
|– Operational Costs|5,975,660|
|– Cost of Raising Funds|444,595|
|**Net Surplus(before investmentgains)**|**3,813,384**|
|**Investment Gain**|**6,254,443**|
|**Net Movement in Funds**|**10,067,827**|
|**Total Funds Carried Forward**|**£173,756,916**|
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**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Financial Review**
## **Income and Expenditure**
The Charity’s largest income stream remains its charitable activity — particularly care services provided across the UK. This income is primarily derived from local authority funding, with some private fees and charitable support. Income from investments provided an important secondary stream, though returns were significantly impacted by market conditions during the year. The sale of property generated a significant amount of other income. Donations and legacy income, excluding property sale, remained stable reflecting continued support for the Charity’s mission.
Operational expenditure decreased modestly, higher staffing costs are reflecting inflationary pressures and ongoing compliance requirements. The Trustees continue to monitor the balance between costs and service quality, ensuring that resources are used effectively in service of beneficiaries.
## **Investment Performance and Ethical Policy**
Despite the volatility in global market, the Charity’s investment portfolio experienced positive growth this year. Investment gains have been reinvested, demonstrating the Charity’s continued ability to meet its short-term financial obligations. Trustees continue to adopt a long-term approach to investment, supported by professional advisors, and review performance regularly.
The Charity’s investment policy prioritises both financial return and ethical responsibility.
## **Ethical Investment Policy**
The Charity does not invest in companies whose activities conflict with its mission and values. These include businesses involved in:
- Weapons or armaments
- Environmental degradation
- Tobacco, pornography, or gambling
- Human rights violations or labour exploitation
Fund managers are required to apply these criteria, and portfolios are reviewed periodically for compliance and impact.
## **Going Concern and Reserves**
The Trustees confirm that the Charity remains a going concern. Sufficient reserves are held to manage operational obligations and support future planning. The Charity’s financial stability is underpinned by a diversified income base, including fee-based services, long-standing investments, and a prudent approach to expenditure.
The Charity maintains a reserves policy which is reviewed annually. Funds are allocated with consideration for future liabilities, including the care of aging members of the Congregation, property maintenance, and support for overseas missions.
The Trustees are confident that the Charity remains well placed to continue fulfilling its obligations and charitable objectives.
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**POOR SERVANTS OF THE MOTHER OF GOD**
**TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Future Outlook**
The Trustees recognise the growing pressures in the external environment — including rising staff costs, increased demand for care services, and a constrained commissioning landscape. In response, the Charity will continue to:
- Monitor and adapt investment strategy
- Control core costs and maximise efficiency
- Review service models in light of long-term sustainability
- Prioritise ethical stewardship of all resources
As always, our financial decisions are guided not only by duty, but by mission — to serve those most in need, with integrity, care, and vision for the future.
## **Income Sources (2024-2025)**
**----- Start of picture text -----**
Income
8% 2%
17%
73%
**----- End of picture text -----**
**----- Start of picture text -----**
Donations and legacies
**----- End of picture text -----**
Charitable Activities
Investments Income
Other Income-Rents from charitable-use properties, Grants & Disposal Gains on Fixed Assets
- 25 -
**POOR SERVANTS OF THE MOTHER OF GOD**
**TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Future Outlook**
## **Income Sources (2024-2025)**
**----- Start of picture text -----**
Income
3%
17%
9%
1%
68%
2%
**----- End of picture text -----**
**----- Start of picture text -----**
Donations and legacies
Care Services income
Supported Living income
Retreat Centre income
**----- End of picture text -----**
**----- Start of picture text -----**
Other Income-Rents, Grants
& Fixed Asset disposal gain
Investments Income
**----- End of picture text -----**
## **Bar graph of investment movement over time (2020 to 2025)**
**----- Start of picture text -----**
Investment Movements
**----- End of picture text -----**
**----- Start of picture text -----**
180,000,000
160,000,000
140,000,000
120,000,000
100,000,000
80,000,000
60,000,000
40,000,000
20,000,000
-
2020 2021 2022 2023 2024 2025
Aggregate Investments Sarasin Chiswells Investments UBS L&C Investments
Cheviot Asset Management Ltd CCLA & IM WHEB Fund
**----- End of picture text -----**
- 26 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Future Outlook**
## **Graph of Investment Returns (2020 to 2025)**
**----- Start of picture text -----**
Investment Returns
Investment Income Gains/(Losses) on Investments
30,000,000
25,000,000
20,000,000
15,000,000
10,000,000
5,000,000
-
2020 2021 2022 2023 2024 2025
(5,000,000)
(10,000,000)
(15,000,000)
**----- End of picture text -----**
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**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **RESERVES POLICY**
At the year end the total funds of the Charity were £173.7m of which £143.7m were designated. Details are set out in Note 20 of the financial statements. Designations are as follows:
£84.4m is reserved for the care of the elderly members. The number of elderly and sick members continues to increase. Most of the frail elderly members are cared for in one of the homes operated by the Charity. The aim is to keep the members as active as possible through second and even third careers. Many do voluntary work in their local areas. The Trustees commissioned in 2022 an actuarial review of the long-term requirement for funds for the care of the elderly. This review had indicated that a fund of between £65m and £77m will be required for this purpose. This fund increased in value mainly due to investment gains in the year. Considering the continued volatility in investment markets and increasing cost of care, Trustees decided this Fund balance of £84.4m is prudent to maintain higher than the top range of actuarial review.
The trustees are mindful that a significant proportion of the Fund is represented by quoted investments which are, by nature, volatile and that the needs of members are also subject to constant change. The level of the Fund will continue to be kept under review as the needs of the Congregation’s members evolve and investment markets fluctuate.
£8.9m has been designated for development and upgrading of the services and accommodation facilities provided by the Charity for the next five to ten years. At the beginning of the financial year the fund value was £8.4m which increased with investment income less net outgoings and investment gains. Following an in-depth review of future plans and related costs by the Trustees decided a fund of £8.9m will be required for development expenditure both in the UK and overseas and transfers from general reserves will be made in coming periods.
£33.6m has been designated by the Trustees for relief of poverty and distress. At the beginning of the financial year the fund was valued at £31.8m. This increased over the year due to investment income, net of outgoings, and gains from investments. The trustees have reviewed their commitment to relief of poverty and distress and have decided to designate £33.6m to this fund to support other charitable organisations providing support to those requiring relief from poverty and distress. With ageing membership, it is not possible for the Charity to provide direct support and with availability of finance resources it is considered the best way for the Charity to carry its mission out through other likeminded charitable organisations who have experience of delivering aid to those in need. Trustees expect this to be a longer-term commitment, over ten years and have not placed any restrictions on use of income or capital. Trustees will carefully monitor support requests and deployment of funds expended by the selected charitable organisations.
£7.0m is designated to provide funding for the overseas outreach programmes anticipated to occur in the next five years. Congregation’s missions in Kenya and Tanzania are growing and will require increased support in the coming years to develop these missions. Overseas payments amounting to £443k with donations, investment income and net investment gains allocated to the fund in the amount of £504k. In view of the continuing commitment to Congregation’s missions in Kenya and Tanzania, trustees decided to continue to maintain the fund at £7m and transfers were made to the general Fund of £61k _._ In Kenya and Tanzania, the provision of health care through dispensaries and clinics continues to be a challenge. Education is also a high priority. Members are being trained as teachers, nurses, laboratory technicians, social workers, and pharmacists. These skills and professional training are essential for the sustainability of our mission in these places. Trustees will continue to monitor the need for overseas support in Kenya and Tanzania and set the reserve in line with their commitment.
- 28 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT - continued**
## **YEAR ENDED 31 MARCH 2025**
## **RESERVES POLICY** (continued)
Just over £9.8m is designated to represent the net book value of the Charity’s properties which cannot be realised without undermining the Charity’s works.
The General Funds of the Charity at the year-end stood nearly at £30m. This represents almost 18 months’ expenditure on the Charity’s continuing activities. This is therefore in line with the levels stated in the Trustees’ policy which is to hold between one- and two-years’ expenditure in reserve. A reserve of between one- and two-years’ expenditure is considered by the Trustees to be prudent.
Such “Free Reserves” are required to ensure that the Charity has sufficient cash resources to meet all its liabilities and commitments as they fall due. Also, with such a broad range of activities and a significant portfolio of properties, many of which are quite old, through which these activities are conducted, it is felt that a reasonable provision against contingencies is essential. In addition, a significant proportion of the Charity’s reserves are represented by quoted investments which are needed for the income that they generate, particularly in view of the low level of interest rates, but the value of these is subject to quite volatile fluctuations in the current uncertain political and economic environment. Therefore, prudence dictates that a reasonable cushion is held against sudden dramatic falls in value.
The Trustees will continue to monitor the Charity’s reserves levels.
## **Looking Ahead: Strategic Priorities for 2025–2026**
As we reflect on the past year, the Trustees give thanks for the dedication of our Sisters, staff, volunteers, and partners, whose commitment sustained our work through both progress and challenge. Across care services, outreach, and international missions, the Charity continued to express the values of our foundress through practical love, spiritual accompaniment, and service to those in need.
Looking ahead, our priorities remain rooted in long-term sustainability, ethical stewardship, and deepened mission presence — both in the UK and overseas.
## **A. Strengthening Care and Support**
-
- Maintain and improve occupancy levels and quality of life across remaining services.
- Monitor sector changes and respond to CQC updates with continuous improvement from all statutory bodies, enhancing relationships with local authorities and other external stakeholders.
- Continuing to build the reputation and demand for the Respite Service that is currently on offer at St Joseph’s.
- We are constantly looking to improve the quality of the service we provide to all our users. We have complaints and whistleblowing policies and procedures which we monitor and keep under constant review.
- 29 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
**Looking Ahead: Strategic Priorities for 2025–2026 (continued)**
## **B. Investing in People**
- Continue professional development across our care teams, including engagement with the apprenticeship services. A number of our staff have committed to courses ranging from level two to level 5 in care and support, leadership and Human Resources.
- Building on the 12 month Management Training Programme that Service Managers and Deputy Service Managers participated in, moving onto a Leadership Training Programme over the coming 12 months.
- Support Sisters in active ministry, formation and leadership, ensuring safe and supported communities.
- Advance long-term workforce planning and governance succession.
- The Trustees are committed to fostering a culture of equality, diversity and inclusion across all areas of the Charity’s work.
## **C. Expanding Pastoral and Spiritual Outreach**
- Grow capacity for retreats, individually guided retreats, spiritual direction at the Kairos Centre and other locations.
- Continue to develop the spiritual and pastoral provisions offered at the Kairos Centre.
- • To develop new ways to increase presence e.g. using different digital and face-to-face opportunities.
- Deepen our presence in chaplaincy and parish life.
- Explore digital tools to support remote pastoral accompaniment, prayer and formation.
## **D. Sustaining Overseas Missions**
-
- Support the completion of the Ikutha convent and community development.
-
- Complete the Charity’s registration for the Tanzanian mission
-
- Strengthen formation pathways for Sisters in Kenya and Tanzania.
- Continue building local enterprise, healthcare and education projects that reduce long-term dependency.
- Maintain robust governance, financial oversight and mission alignment through close trustee collaboration.
- 30 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2025**
## **Looking Ahead: Strategic Priorities for 2025–2026 (continued)**
## **E. Stewarding Resources and Financial Resilience**
- Continue careful oversight of income and expenditure in light of care sector pressures and inflation.
- Monitor investment portfolios in partnership with professional advisors, guided by our ethical investment framework.
- Review service models for sustainability, while maintaining care quality and access.
- The Charity remains committed to environmental stewardship, including improvements to energy efficiency, sustainable procurement, and reducing waste across our care homes and retreat centres.
## **F. Fundraising Compliance Statement**
The Charity does not engage in public fundraising or use professional fundraising agencies, and has received no complaints related to fundraising during the year.
## **Reflections and Hopes**
This year has reminded us of the enduring relevance of quiet, faithful presence in a world that often moves too fast. Our mission is not only to provide services, but to be companions to those who are overlooked, vulnerable, or in spiritual need. We are inspired by the resilience of our Sisters and the grace of those we serve.
## _**Quote from Sister**_
_“ I feel humbled and very privileged to be so closely involved in the daily struggles and joys of the housebound and lovely people in my area”_
## **Closing Message**
The Trustees remain united in their commitment to the Charity’s founding vision: to serve with love, humility, and courage. With gratitude for the support of all who share in this mission — benefactors, local authorities, staff, families, and friends — we look forward to the year ahead in faith and hope.
- 31 -
**POOR SERVANTS OF THE MOTHER OF GOD**
**TRUSTEES’ ANNUAL REPORT (continued)**
**YEAR ENDED 31 MARCH 2025**
## **Trustee Responsibilities**
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
We confirm that there is no audit information of which you as auditors are unaware, and that each trustee has taken steps to make themselves aware of any relevant information and to establish that you are aware of that information.
The Trustees appreciate the professionalism, dedication and commitment of their members, management personnel, staff, and advisers.
Approved by the Trustees on 24 November 2025 and signed as authorised on their behalf by
……………………………………… ……………………………………… Sr Margaret Cashman Sr Mary Holmes Trustee Trustee
- 32 -
**Independent auditor’s report to the trustees of POOR SERVANTS OF THE MOTHER OF GOD**
## **Opinion**
We have audited the financial statements of Poor Servants of the Mother of God for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 31 March 2025 and of the charity’s net movement in funds for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
- 33 -
**Independent auditor’s report to the trustees of POOR SERVANTS OF THE MOTHER OF GOD (continued)**
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- adequate accounting records have not been kept by the charity; or
- sufficient and proper accounting records have not been kept; or
- the charity financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees for the financial statements**
As explained more fully in the trustees’ responsibilities statement set out on page 32, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the charity and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to safeguarding regulations, care quality commission compliance, employment law and taxes and Charity law, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011 and the Charities SORP.
- 34 -
**Independent auditor’s report to the trustees of**
## **POOR SERVANTS OF THE MOTHER OF GOD (continued)**
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to recognition of income. Audit procedures performed by the engagement team included:
- Inspecting minutes of Trustees’ meetings;
- Inspecting correspondence with regulators and tax authorities;
- Reviewing the latest Care Quality Commission (CQC) reports;
- Discussions with management including consideration of known or suspected instances of noncompliance with laws and regulation and fraud;
- Evaluating management’s controls designed to prevent and detect irregularities;
- Identifying and testing journals including the control environment and purpose; and
- Challenging assumptions and judgements made by management in their critical accounting estimates. These related to depreciation charges.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including to those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more the compliance with a law or financial regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s trustees as a body for our audit work, for this report, or for the opinions we have formed.
HaysMac LLP
Statutory Auditors 10 Queen Street Place
London
EC4R 1AG
Date:
HaysMac LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
- 35 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 MARCH 2025**
|**OR THE YEAR ENDED 31 MARCH 2025**||||
|---|---|---|---|
|||**Unrestricted Funds**||
|||**2025**|**2024**|
|||**Total**|**Total**|
||**Notes**|**£**|**£**|
|**Income from**||||
|Donations and legacies|1|**604,745**|664,193|
|Charitable Activities|2|**17,456,590**|15,855,194|
|Other charitable activities||||
|- Rents receivable from charitable-use properties||||
|temporarily surplus to operational requirements||**277,367**|200,398|
|Investments|3|**4,006,900**|4,112,223|
|Other||||
|- Gain on disposal of tangible fixed assets|4|**1,649,503**|3,081|
|- Grants received|4a|**14,133**|14,589|
|||------------------------|------------------------|
|**Total Income**||**24,009,238**|20,849,678|
|||------------------------|------------------------|
|**Expenditure on**||||
|Cost of raising funds||||
|- Investment management costs||**444,595**|368,098|
|Charitable activities|5|**19,751,259**|19,827,920|
|||------------------------|------------------------|
|**Total expenditure**||**20,195,854**|20,196,018|
|||------------------------|------------------------|
|**Net income/(expenditure) before gains/(losses)**||||
|**on investments**||**3,813,384**|653,660|
|Net gains/(losses) on investments||**6,196,396**|11,775,907|
|||------------------------|------------------------|
|**Net movement in funds for the year**||**10,009,780**|12,429,567|
|Fund balances at 1 April 2024||**163,689,089**|151,259,522|
|||------------------------|------------------------|
|**Fund balances at 31 MARCH 2025**||**£173,698,869**|£163,689,089|
|||============|=============|
Included in the above figures is a £8,783 (2024: £30,695) restricted donation which has not been spent by 31 March 2025. During the year restricted donations of £500 were received. This has not been separately disclosed as a restricted fund at 31 March 2025 as this amount is immaterial in context of the overall funds of the Charity. The above figures exclude permanent endowment of £50 which accounts for the difference between the fund balances and the Balance Sheet total.
The notes on pages 42 to 52 form part of these financial statements.
- 36 -
## **POOR SERVANTS OF THE MOTHER OF GOD**
## **BALANCE SHEET**
## **AS AT 31 MARCH 2025**
|**S AT 31 MARCH 2025**||||
|---|---|---|---|
|||**2025**|**2024**|
||**Notes**|**£**|**£**|
|**Fixed Assets**||||
|Tangible assets|15|**10,005,716**|10,341,684|
|Investments|16|**158,614,869**|150,918,519|
|||**--------------------------**|--------------------------|
|||**168,620,585**|161,260,203|
|||**--------------------------**|--------------------------|
|**Current Assets**||||
|Debtors|17|**1,455,598**|1,422,328|
|Cash at bank and in hand||**5,266,256**|2,471,646|
|||**--------------------------**|--------------------------|
|||**6,721,854**|3,893,974|
|**Creditors:**||||
|Amounts falling due within one year|18|**(1,643,520)**|(1,465,038)|
|||**--------------------------**|--------------------------|
|**Net Current Assets**||**5,078,334**|2,428,936|
|||**--------------------------**|--------------------------|
|**Net Assets**||**£173,698,919**|£163,689,139|
|||==============|==============|
|**Funds**||||
|**Permanent Endowment Fund**|21|**50**|50|
|||**--------------------------**|--------------------------|
|**Unrestricted Funds:**||||
|General Funds||**29,995,053**|26,720,481|
|Designated Funds|20|**143,703,816**|136,968,608|
|||**--------------------------**|--------------------------|
|||**173,698,869**|163,689,089|
|||**--------------------------**|--------------------------|
|||**£173,698,919**|£163,689,139|
|||==============|==============|
Approved by the Trustees on 24 November 2025 and signed as authorised on their behalf by:
…………………………………..
Sr Margaret Cashman Trustee
…………………………………..
Sr Mary Holmes Trustee
The notes on pages 39 to 53 form part of these financial statements.
- 37 -
## **POOR SERVANTS OF THE MOTHER OF GOD**
## **CASH FLOW STATEMENT**
|**FOR THE YEAR ENDED 31 MARCH 2025**||||
|---|---|---|---|
|||**2025**|**2024**|
||**Notes**|**£**|**£**|
|**Cash flows from Operating Activities**||||
|Net cash outflow from operating activities|A|(1,333,765)|(2,957,151)|
|||----------------------
|----------------------|
|**Cash flows from investing activities**||||
|Dividends and interest from investments||4,006,900|4,112,223|
|Payments to acquire tangible fixed assets||(34,974)|(62,799)|
|Receipts from sales of tangible fixed assets||1,656,403|68,999|
|Payments to acquire investments||(63,834,084)|(45,582,902)|
|Receipts from sales of investments||62,334,130|45,107,848|
|||----------------------
|----------------------|
|**Net cash provided by/(used in) investing activities**||4,128,375|3,643,369|
|||----------------------
|----------------------|
|**Change in cash and cash equivalents in year**||**2,794,610**|**686,218**|
|Cash and cash equivalents at 1 April 2023|B|2,471,646|1,785,428|
|||----------------------
|----------------------|
|Cash and cash equivalents at 31 March 2024|B|**£5,266,256**|**£2,471,646**|
|||============
|===========|
|**Notes to the Cash Flow Statement**||||
|**A. Reconciliation of net movement in funds to net cash flow from operating activities**||||
|||**2025**|**2024**|
|||**£**|**£**|
|**Net movement in funds (as per the Statement of**|**Financial**|10,009,780|12,429,567|
|**Activities)**||||
|**Adjustments for**||||
|(Gains)/Losses on investments||(6,196,396)|(11,775,907)|
|Dividends and interest from investments||(4,006,900)|(4,112,223)|
|Depreciation||364,042|363,194|
|Gains on disposal of tangible fixed assets||(1,649,503)|(3,083)|
|Decrease//(Increase) in debtors||(33,270)|(15,304)|
|Increase/(Decrease) in creditors||178,482|156,605|
|||----------------------
|----------------------|
|**Net cash (used in) operating activities**||(1,333,765)|(2,957,151)|
|||============
|===========|
|**B. Analysis of cash and cash equivalents**||||
|Cash at bank and in hand||5,266,256|2,471,646|
|||----------------------
|----------------------|
|Total cash and cash equivalents||**£5,266,256**|**£2,471,646**|
|||============
|============|
The charity has no debt therefore analysis of net debt in not required.
- 38 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **PRINCIPAL ACCOUNTING POLICIES**
## **FOR THE YEAR ENDED 31 MARCH 2025**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.
## **Basis of preparation**
The financial statements have been prepared in accordance with all statutory requirements and with the Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
The charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The accounts are presented in sterling and are rounded to the nearest pound.
## **Critical accounting estimates and areas of judgement**
Preparation of the accounts requires the Trustees to make significant judgements and estimates. The items in the accounts where these judgements and estimates have been made include:
- estimating the economic useful life of tangible fixed assets.
## **Assessment of going concern**
The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The Trustees have made this assessment in respect to a period no less than one year from the date of approval of these accounts.
Senior management with the Trustees continue to monitor the Charity’s cash flow forecasts and financial performance of individual units. The Charity’s improved net cash-generating capacity means that no withdrawal from its investment portfolios is planned for the year ending 31 March 2026. The Charity is in a fortunate position to be able to access the required financial resource should the need arise.
The Trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. With access to Charity’s investments if required to support cash flow requirements for the operations, Charity will continue to be a going concern in the foreseeable future. The most significant areas of judgement that affect items in the accounts are detailed above. With regard to the next accounting period and following financial year ending 31 March 2027, the most significant areas that affect the carrying value of the assets held by the charity are the level of investment return and the performance of the investment markets (see the investment policy and the risk management sections of the Trustees’ Report for more information).
## **Income recognition**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
- 39 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **PRINCIPAL ACCOUNTING POLICIES (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **Income recognition (continued)**
Income received in advance of the provision of care services service is deferred until the criteria for income recognition are met.
In accordance with the Charities SORP FRS102, volunteer time is not recognised.
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## **Expenditure recognition and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of raising funds - these comprise fees paid in respect of fund management advice in relation to the charity’s portfolio of quoted investments, which is managed under a discretionary management agreement.
- Expenditure on charitable activities – these include the costs of running the charity’s Nursing and Care Homes and its Retreat Centres as well as all other costs associated with furthering the charitable purposes of the charity through the provision of its charitable activities. These costs comprise charitable grants and donations and direct and support costs in respect to the support of members of the Congregation and their ministry. It also includes governance costs.
Charitable grants and donations are made where the Trustees consider there is real need following a review of the details of each particular case and comprise single year payments rather than multi-year grants. Grants and donations are included in the statement of financial activities when approved for payment. Provision is made for grants and donations approved but unpaid at the period end.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **Allocation of support and governance costs**
Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of personnel development, financial procedures, provision of office services and equipment and a suitable working environment.
## **Tangible fixed assets**
Individual fixed assets costing £5,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight-line basis as follows:
||Annual rate|
|---|---|
|Freehold land|Nil|
|Freehold buildings|2%|
|Building improvements|10%|
|Plant and equipment|10 - 20%|
|Motor vehicles|25%|
- 40 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **PRINCIPAL ACCOUNTING POLICIES (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **Financial Instruments and investments**
The charity only holds financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **Investments**
Quoted investments are a form of basic financial instrument and are initially recognised at cost and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Gains or losses on investments are disclosed in the statement of financial activities as a combined figure for realised gains or losses from investment sales in the year (sale proceeds less market value last year) and unrealised gains or losses arising from the increase/decrease in value during the year of investments still held.
As noted above, the main form of financial risk to which the charity is exposed is that of the volatility in investment markets.
## **Debtors**
Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Deposits for more than three months and up to one year have been disclosed as short-term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.
## **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Services provided by members of the Congregation**
For the purposes of these accounts, no value has been placed on administrative and other services provided by the members of the Congregation.
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the net movement in funds.
- 41 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **PRINCIPAL ACCOUNTING POLICIES (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **Funds**
The permanent endowment represents the original endowment of £50 to be held perpetually and the income alone applied for the furtherance of the Congregation's charitable objects.
Restricted funds are held subject to donor imposed conditions and restricted to their use for the specific purpose.
Designated funds are monies set aside from the general funds and designated for specific purposes by the Trustees.
General funds are monies required for operating day-to-day activities of the Charity and to meets it charitable objectives.
## **Leased assets**
Rentals applicable to operating leases, where substantially all of the benefits and risks of ownership remain with the lessor, are charged to the statement of financial activities on a straight-line basis over the term of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all of the risks and rewards of ownership to the charity. Assets held under finance leases are recognised initially at the fair value of the leased assets (or, if lower, the present value of the minimum lease payments) at the inception of the lease. The corresponding liability to the lessor is recognised as a finance lease obligation. Lease payments are apportioned between finance charges and the reduction of the lease obligation using the effective interest method in order to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are charged to the statement of financial activities. Assets held under finance leases are capitalised and depreciated and assessed for impairment losses in the same way as owned assets.
## **Pension contributions**
Charity operates a Group Personal Pension Scheme (GPPS); a defined contribution scheme. Another defined contribution scheme was set up to manage Auto-Enrolment (AE) in 2014 for employees who did not join the GPPS as required by the government regulations. Both schemes are defined contribution schemes, and the assets of the schemes are held separately from those of the Charity. The GPPS is no longer available to new joiners.
The rate of contribution by the charity as employer ranges from 4% to 20% for the GPPS and 3% for AE Pensions Plans. Employees may opt to make additional contributions.
Contributions are also made to the National Health Service Pension Scheme for a number of employees at one of the charity’s nursing homes. For the purposes of complying with the relevant accounting standards, the Scheme is accounted for as a defined contribution scheme as the Home is not responsible for, or entitled to receive benefit from, any deficit or surplus on the scheme. Another home is required to make monthly payments to the Merseyside Pension Fund to help fund the pension liabilities of several former employees. Contributions are charged to the statement of financial activities as they are made.
- 42 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2025**
|**1.**|**DONATIONS AND LEGACIES**|||**2025**||**2024**|
|---|---|---|---|---|---|---|
|||||**£**||**£**|
||Salaries and pensions of individual religious members received||||||
||under Gift Aid or deed of covenant|||**454,662**||511,591|
||General donations and gifts|||**148,651**||147,482|
||Legacies|||**1,432**||5,120|
|||||**--------------------------**|**--------------------------**||
|||||**£604,745**||£664,193|
|||||**===========**|============||
|**2.**|**INCOMING RESOURCES FROM CHARITABLE ACTIVITIES**|||
**2025**||**2024**|
|||||**£**||**£**|
||Care Services|||**16,390,427**||14,709,020|
||Supported Living|||**396,630**||389,335|
||Retreat Centre fees|||**348,268**||408,681|
|||||**--------------------------**|--------------------------||
|||||**17,135,325**||15,507,036|
||Rents on properties let for charitable purposes|||**321,265**||348,158|
|||||**----------------------------**|----------------------------||
|||||**£17,456,590**||£15,855,194|
|||||**=============**|============||
|**3.**|**INVESTMENT INCOME**|||**2025**||**2024**|
|||||**£**||**£**|
||Bank deposit interest|||**73,454**||16,303|
||Dividends and interest from quoted investment portfolio|||**3,933,446**||4,095,920|
|||||**-------------------------**|-------------------------||
|||||**£4,006,900**||£4,112,223|
|||||**============**|============||
|**4.**|**GAIN ON DISPOSAL OF TANGIBLE FIXED**|**ASSETS**||**2025**||**2024**|
|||||**£**||**£**|
||Properties|||**1,652,603**||-|
||Other|||**(3,100)**||3,081|
|||||**-------------------------**|-------------------------||
|||||**£1,649,503**||£3,081|
|||||**============**|============||
|**4a.**|**GRANTS RECEIVED**||||||
||**Generalate**||**Care**|**Retreat**
**Total**||**Total**|
||||**Services**|**Centre**
**2025**||**2024**|
||**£**||**£**|**£**
**£**||**£**|
|Covid-19 Infection Control Grant||-|-|-|**-**|14,589|
|Digital|Records Management System Grant|-|14,133|-
**14,133**||-|
||**------------------------**||**---------------------**|**---------------------**
**---------------------**||**---------------------**|
|||**£-**|**£14,133**|**£-**
**£14,133**||£14,589|
||**===========**||=========|=========
**==========**||=========|
- 43 -
## **POOR SERVANTS OF THE MOTHER OF GOD**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **5. EXPENDITURE ON CHARITABLE ACTIVITIES**
|||||**Support of**||||
|---|---|---|---|---|---|---|---|
||**Care**|**Accommod**|**Retreat**|**Sisters and**|**Overseas**|**Total**|**Total**|
||**Services**|**ation**|**Centre**|**their**|**outreach**|**2025**|**2024**|
|||**Services**||**ministries**||||
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|Staff costs (including||||||||
|agency staff)|13,202,973|-|418,879|153,747|-|**13,775,599**|13,740,524|
|Depreciation|209,223|32,866|7,689|114,264|-|**364,042**|363,194|
|Other operational||||||||
|costs|890,654|184,156|155,693|647,310|-|**1,877,813**|1,579,583|
|Administrative||||||||
|Expenses|389,622|12,008|19,941|-|-|**421,571**|414,472|
|Grants to overseas||||||||
|Missions (note 7)|-|-|-|-|422,509|**422,509**|697,689|
|Care of elderly||||||||
|sisters|-|-|-|626,597|-|**626,597**|785,616|
||----------------------|---------------|------------------|---------------------|---------------------|**---------------------**|**---------------------**|
||14,692,472|229,030|602,202|1,541,918|422,509|**17,488,131 **|17,581,078|
|Support costs||||||||
|(note 6)|1,545,249|24,088|63,335|162,168|44,436|**1,839,276**|1,845,554|
|Governance costs||||||||
|(note 6)|339,082|8,477|12,716|59,339|4,238|**423,852**|401,288|
||----------------------|---------------|------------------|--------------------|---------------------|**----------------------**|-**---------------------**|
||£16,576,803|£261,595|£678,253|£1,763,425|£471,183|**£19,751,259**|£19,827,920|
||===========|==========|========|==========|==========|==========|==========|
|**Prior Year**||||**Support of**||||
||**Care**|**Accommod**|**Retreat**|**sisters and**|**Overseas**|**Total**||
||**Services**|**ation**|**Centre**|**their**|**outreach**|**2024**||
|||**Services**||**ministries**||||
||**£**|**£**|**£**|**£**|**£**|**£**||
|Staff costs (including||||||||
|agency staff)|13,221,381|-|374,355|144,788|-|**13,740,524**||
|Depreciation|209,223|32,866|7,689|113,416|-|**363,194**||
|Other operational||||||||
|costs|764,128|190,930|132,735|491,790|-|**1,579,583**||
|Administrative||||||||
|Expenses|380,557|13,107|20,808|-|-|**414,472**||
|Grants to||||||||
|overseas missions|-|-|-|-|697,689|**697,689**||
|Care of elderly||||||||
|sisters|-|-|-|785,616|-|**785,616**||
||----------------------|---------------|------------------|---------------------|---------------------|**---------------------**||
||14,575,289|236,903|535,587|1,535,610|697,689|**17,581,078**||
|Support costs||||||||
|(note 6)|1,530,024|24,869|56,223|161,199|73,239|**1,845,554**||
|Governance costs||||||||
|(note 6)|321,030|8,026|12,039|56,180|4,013|**401,288**||
||----------------------|---------------|------------------|--------------------|---------------------|**----------------------**||
||£16,426,343|£269,798|£603,849|£1,752,989|£774,941|**£19,827,920**||
||===========|==========|========|==========|==========|==========||
- 44 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
|**6.**|**ANALYSIS OF GOVERNANCE AND SUPPORT COSTS**|**2025**|**2024**|
|---|---|---|---|
|||**£**|**£**|
||Support costs comprise:|||
||Sisters' expenses|**495,748**|517,289|
||Establishment expenses|**448,833**|435,645|
||Administrative costs|||
||- Staff costs|**315,308**|308,261|
||- Other|**569,830**|564,866|
||Exchange losses/(gains)|**9,557**|19,493|
|||**-------------------**|-------------------|
|||**1,839,276**|1,845,554|
|||**-------------------**|**-------------------**|
||Governance costs:|||
||Staff costs|**337,075**|325,235|
||Audit fees|**66,540**|62,190|
||Other|**20,237**|13,863|
|||**-------------------**|-------------------|
|||**423,852**|401,288|
|||**-------------------**|-------------------|
|||**£2,263,128**|£2,246,842|
|||**=========**|===========|
||**Allocation of Governance & Support Costs**|||
||Care Services|**1,884,331**|1,851,054|
||Accommodation Services|**32,565**|32,895|
||Retreats|**76,051**|68,262|
|||**-------------------**|-------------------|
|||**1,992,947**|1,952,211|
||Support of Sisters & their ministries|**221,507**|217,379|
||Overseas outreach|**48,674**|77,252|
|||**-------------------**|-------------------|
|||**£2,263,128**|£2,246,842|
|||**=========**|===========|
|**7.**|**OVERSEAS OUTREACH**|||
||The direct costs of Overseas Outreach include the payment of grants as follows:|||
|||**2025**|**2024**|
|||**£**|**£**|
||Support of the Congregation’s missions in:|||
||Kenya, Tanzania and Venezuela|**£422,509**|£697,689|
|||**===========**|===========|
- 45 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **8. SUMMARY ANALYSIS OF EXPENDITURE AND RELATED INCOME FOR CHARITABLE ACTIVITIES**
||**Current Year**||||||
|---|---|---|---|---|---|---|
|||**Care**|**Accommodation**|**Retreat**|**Total**|**Total**|
|||**Services**|**Services**|**Centre**|**2025**|**2024**|
|||**£**|**£**|**£**|**£**|**£**|
||Direct costs|14,692,472|229,030|602,202|**15,523,704**|15,347,779|
||Governance and||||||
||support costs|1,884,331|32,565|76,051|**1,992,947**|1,952,211|
|||**------------------------**|------------------------|**-----------------------**|**----------------------**|----------------------|
|||16,576,803|261,595|678,253|**17,516,651**|17,299,990|
||Fees and rents receivable|16,390,427|396,630|348,268|**17,135,325**|15,507,036|
|||**------------------------**|------------------------|**-----------------------**|**----------------------**|----------------------|
||**Net income/(cost)**|£(186,376)|£135,035|£(329,985)|**£(381,326)**|
£(1,792,954)|
|||============|============|============|**===========**|
============|
||**Prior Year**||||||
|||**Care**|**Accommodation**|**Retreat**|**Total**||
|||**Services**|**Services**|**Centre**|**2024**||
|||**£**|**£**|**£**|**£**||
||Direct costs|14,575,289|236,903|535,587|15,347,779||
||Governance and||||||
||support costs|1,851,054|32,895|68,262|1,952,211||
|||**------------------------**|------------------------|**-----------------------**|----------------------||
|||16,426,343|269,798|603,849|17,299,990||
||Fees and rents receivable|14,709,020|389,335|408,681|15,507,036||
|||**------------------------**|------------------------|**-----------------------**|**----------------------**||
||**Net income/(cost)**|**£(1,717,323)**|**£119,537**|**£(195,168)**|**£(1,792,954)**||
|||============|============|============|**===========**||
|**9.**|**NET INCOME FOR THE YEAR**|||**2025**||**2024**|
||||||**£**|**£**|
||**This is stated after charging:**||||||
||Depreciation||||**364,042**|363,194|
||Auditors’ remuneration||||||
||- Audit fees (including VAT)||||**66,540**|62,190|
||Losses/(Gains) on currency|conversion|||**9,557**|19,493|
|||||**============**||============|
- 46 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
|**10.**|**STAFF COSTS**|**2025**|**2024**|
|---|---|---|---|
|||**£**|**£**|
||Staff costs during the year were as follows:|||
||Wages and salaries|**11,367,222**|11,373,719|
||Social security costs|**1,029,451**|992,696|
||Other pension costs|**421,367**|415,727|
||Agency staff|**1,429,427**|1,300,470|
||Other costs (including Apprenticeship Levy and recruitment costs)|**162,634**|190,163|
||Staff restructuring|**17,881**|101,245|
|||**----------------------**|**----------------------**|
|||**£14,427,982**|£14,374,020|
|||**============**|============|
||Staff restructuring costs comprise:|||
||Redundancy and termination payments|**£17,881**|£101,245|
|||**============**|============|
|||**2025**|**2024**|
|||**No.**|**No.**|
||The number of employees whose emoluments exceeded £60,000 were:|||
||£60,001 - £70,000|**1**|**3**|
||£70,001 - £80,000|**3**|**1**|
||£90,001 - £100,000|**-**|**1**|
||£100,001 - £110,000|**1**|**-**|
||170,001 - £180,000|**-**|**1**|
||£180,001 - £190,000|**1**|**-**|
|||**============**|============|
Employer contributions of £59,773 (2024: £44,749) were contributed to the employee Group Personal Pension Plan on behalf of the employees earning more than £60,000 (2023: £60,000)
The key management personnel of the charity in charge of directing, controlling and operating the charity on a day to day basis comprise the Trustees together with the following:
Director of Finance Director of Operations Associate Director of Operations Human Resources Manager Retreat Centre Manager
The total remuneration (including taxable benefits, employer’s national insurance contributions and employer’s pension contributions) of the five (2024:5) key management personnel for the year was £544,771 (2024:£512,149).
- 47 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
|**11.**|**STAFF NUMBERS**|**2025**|**2024**|
|---|---|---|---|
|||**No.**|**No.**|
||The average monthly head count of staff:|||
||Care Services|**404**|437|
||Retreats|**12**|13|
||Others|**39**|43|
|||**----------------------**|**----------------------**|
|||**455**|493|
|||**============**|**============**|
## **12. PENSIONS**
The charity operates a defined contribution Group Personal Pension Plan for its employees. The charity is not liable to finance any shortfall of funding and cannot benefit from over funding. Employer contributions payable into the scheme during the year were at a rate of between 4% and 20% of pensionable salary and members contributed between 0% and 7% of pensionable salary.
Employer contributions of £421,367 (2024: £415,727) were paid during the year. The amount outstanding at the year-end was Nil (2024: £35,536).
## **13. TRUSTEE REMUNERATION AND EXPENSES**
The Trustees of the Charity are also members of the Congregation and as such have taken vows of poverty under which they have renounced all personal rights to income and capital. The Charity provides for the essential needs of all members of the Congregation.
The living costs of the 6 Trustees are therefore borne by the Charity.
As members of the Congregation, none of the Trustees have resources of their own. As well as all earnings, pensions and other income have been donated to the Charity under a Gift Aid compliant Deed of Covenant.
During the year, Trustees donated a total of £5,272 (2023: £5,826) which includes contributions made through individual pension receipts and other charitable donations.
## **14. TAXATION**
As a registered charity the Poor Servants of the Mother of God is not liable to income tax or corporation tax on income or gains derived from its charitable activities, as they fall within the various exemptions available to registered charities.
- 48 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 MARCH 2024**
|**15.**|**TANGIBLE FIXED ASSETS**|||||
|---|---|---|---|---|---|
|||**Freehold land**|**Plant and**|**Motor**||
|||**and Buildings**|**Equipment**|**Vehicles**|**Total**|
|||**£**|**£**|**£**|**£**|
||**COST**|||||
||At 1 April 2024|18,847,373|302,293|267,227|**19,416,893**|
||Additions|-|34,974|-|**34,974**|
||Assets written off|-|-|-|**-**|
||Disposals in year|-|-|(23,566)|**(23,566)**|
|||**-----------------------**|**--------------------**|--------------------|**----------------------**|
||At 31 March 2025|18,847,373|337,267|243,661|**19,428,301**|
|||**-----------------------**|**--------------------**|--------------------|**----------------------**|
||**DEPRECIATION**|||||
||At 1 April 2024|8,725,351|91,541|258,317|**9,075,209**|
||Charge for year|300,822|61,220|2,000|**364,042**|
||Released on assets write off|-|-|-|**-**|
||Disposals in year|-|-|(16,666)|**(16,666)**|
|||**----------------------**|**--------------------**|--------------------|**----------------------**|
||At 31 March 2025|9,026,173|152,761|243,651|**9,422,585**|
|||**----------------------**|**--------------------**|--------------------|**----------------------**|
||**NET BOOK VALUE**|||||
||**At 31 March 2025**|**£9,821,200**|**£184,506**|**£10**|**£10,005,716**|
|||**============**|**===========**|**===========**|**============**|
||At 31 March 2024|£10,122,022|£210,752|£8,910|£10,341,684|
|||**============**|===========|===========|============|
Apart from a small proportion of excess accommodation, which is let, and minimal use for management and administrative purposes, all fixed assets are held for charitable purposes.
Three Voluntary Aided School properties registered in the names of the trustees are not included in fixed assets. All these schools were formerly run by the Congregation but the two Voluntary Aided Schools, at Banstead and Amersham, have been handed over to Roman Catholic Dioceses on long term leases, and the third, at Chippenham has been leased to the governors. As all rights and obligations in respect of these properties have effectively been transferred from the Charity, the Trustees consider their ownership to be in the nature of custodianship of the assets and they have, therefore, not been capitalised. The total insurance value of these schools is approximately £5m.
- 49 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **16. INVESTMENTS**
|**INVESTMENTS**||||||
|---|---|---|---|---|---|
|||**2025**||**2024**||
||**£**|**£**|**£**||**£**|
|Value 1 April 2024||**£150,918,519**|||138,667,558|
|Additions during the year||**63,834,084**|||45,582,902|
|Disposals||||||
|Proceeds|**(62,334,130)**||(52,059,421)|||
|Realised gains / (losses)|**1,634,958**||(2,980,675)|||
||**----------------------**||**----------------------**|||
|||**(60,699,172)**|||(45,690,036)|
|Revaluations||**4,561,438**|||12,358,095|
|||**----------------------**|||**----------------------**|
|Value at 31 March 2025||**£158,614,869**|||£150,918,519|
|||============|||============|
||||**2025**||**2024**|
||||**£**||**£**|
|Listed on a UK Stock Exchange||||||
|- Fixed interest stocks|||**20,657,413**||23,139,472|
|- Equities and Unit Trusts|||**131,507,795**||124,938,239|
|Portfolio bank accounts|||**6,449,481**||2,840,808|
||||**----------------------**||**----------------------**|
|Total|||**£158,614,869**||£150,918,519|
||||=============||============|
All investments (other than cash and deferred annuity contracts) are quoted on a recognised UK Stock Exchange or are valued by reference to investments listed on a recognised Stock Exchange.
Included in the above investments none represented more than 5% of the total value of investments.
## **17. DEBTORS**
|**17.**|**DEBTORS**|||
|---|---|---|---|
|||**2025**|**2024**|
|||**£**|**£**|
||Fees receivable|**945,428**|991,552|
||Prepayments and other debtors|**510,170**|430,776|
|||**---------------------------**|---------------------------|
||Total|**£1,455,598**|£1,422,328|
|||==============|==============|
|**18.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|||**2025**|**2024**|
|||**£**|**£**|
||Taxation and Social Security|**250,242**|230,793|
||Other creditors and accruals|**1,393,278**|1,234,245|
|||**---------------------------**|---------------------------|
||Total|**£1,643,520**|£1,465,038|
|||==============|==============|
- 50 -
## **POOR SERVANTS OF THE MOTHER OF GOD**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **19. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
||**Tangible**|||**Current**|**Current**|**Total**|
|---|---|---|---|---|---|---|
||**Fixed Assets**|**Investments**||**Assets**|**Liabilities**|**2025**|
||**£**|**£**||**£**|**£**|**£**|
|**Endowment Fund**|-|-||50|-|**50**|
||**------------------------**|**------------------------**||**-----------------------**|**----------------------**|----------------------|
|**General Funds**|184,516|24,732,253||6,721,804|(1,643,520)|**29,995,053**|
||**------------------------**|**------------------------**||**-----------------------**|**----------------------**|----------------------|
|**Designated Funds (note 20)**|||||||
|Properties Fund|9,821,200|-||-|-|**9,821,200**|
|Retirement Fund|-|84,377,296||-|-|**84,377,296**|
|Development Fund|-|8,894,338||-|-|**8,894,338**|
|Relief of Poverty &|-|33,610,982||-|-|**33,610,982**|
|Distress Fund|||||||
|Overseas Outreach Fund|-|7,000,000||-|-|**7,000,000**|
||**------------------------**|**------------------------**||**-----------------------**|**----------------------**|---------------------------|
||9,821,200|133,882,616||-|-|**143,703,816**|
||**------------------------**|**------------------------**||**-----------------------**|**----------------------**|-----------------------------|
|Total Net Assets|**£10,005,716**|**£158,614,869**||**£6,721,854**|**£(1,643,520)**|**£173,698,919**|
||=============|=============||============|============|=============|
|Unrealised gains|||||||
|included|||||||
|above at 31 March 2025|**£-**|**£16,272,146**||**£-**|**£-**|**£16,272,146**|
||=============|=============||============|============|============|
|**Prior Year**|**Tangible**|||**Current**|**Current**|**Total**|
||**Fixed Assets**|**Investments**||**Assets**|**Liabilities**|**2024**|
||**£**|**£**||**£**|**£**|**£**|
|**Endowment Fund**|-|-||50|-|**50**|
||**------------------------**|-**-----------------------**||**-----------------------**|**----------------------**|----------------------|
|**General Funds**|219,662|24,071,933||3,893,924|(1,465,038)|26,720,481|
||**------------------------**|**------------------------**||**-----------------------**|**----------------------**|----------------------|
|**Designated Funds (note 20)**|||||||
|Properties Fund|10,122,022||-|-|-|**10,122,022**|
|Retirement Fund|-|79,733,655||-|-|**79,733,655**|
|Development Fund|-|8,357,963||-|-|**8,357,963**|
|Relief of Poverty &|-|31,754,968||-|-|**31,754,968**|
|Distress Fund|||||||
|Overseas Outreach Fund|-|7,000,000||-|-|**7,000,000**|
||**------------------------**|**------------------------**||**-----------------------**|**----------------------**|---------------------------|
||10,122,022|126,846,586||-|-|**136,968,608**|
||**------------------------**|**------------------------**||**-----------------------**|**----------------------**|-----------------------------|
|Total Net Assets|**£10,341,684**|**£150,918,519**||**£3,893,974**|**£(1,465,038)**|**£163,689,139**|
||=============|=============||============|============|=============|
|Unrealised gains|||||||
|included|||||||
|above at 31 March 2024|**£-**|**£18,792,805**||**£-**|**£-**|**£18,792,805**|
||=============|=============||============|============|============|
- 51 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **20. DESIGNATED FUNDS**
|**Analysis of Movements**|||||
|---|---|---|---|---|
||**Balance at**|**Net Income**||**Balance at**|
||**1 April**|**and**||**31 March**|
||**2024**|**Gains/Losses**|**Transfers**|**2025**|
||**£**|**£**|**£**|**£**|
|Properties Fund|10,122,022|(300,822)|-|9,821,200|
|Retirement Fund|79,733,655|4,643,641|-|84,377,296|
|Development Fund|8,357,963|536,375|-|8,894,338|
|Relief of Poverty & Distress Fund|31,754,968|1,856,014|-|33,610,982|
|Overseas Outreach Fund|7,000,000|57,875|(57,875)|7,000,000|
||---------------------------|------------------------|--------------------------|---------------------------|
||**£136,968,608**|**£6,793,083**|**£(57,875)**|**£143,703,816**|
||============|============|============|==============|
|**Prior Year**|**Balance at**|**Net Income**||**Balance at**|
||**1 April**|**and**||**31 March**|
||**2023**|**Gains/Losses**|**Transfers**|**2024**|
||**£**|**£**|**£**|**£**|
|Properties Fund|10,484,494|(362,472)|-|10,122,022|
|Retirement Fund|72,292,022|7,441,633|-|79,733,655|
|Development Fund|7,517,471|840,492|-|8,357,963|
|Relief of Poverty & Distress Fund|28,714,154|3,040,814|-|31,754,968|
|Overseas Outreach Fund|7,000,000|175,532|(175,532)|7,000,000|
||---------------------------|------------------------|--------------------------|---------------------------|
||**£126,008,141**|**£11,135,999**|**£(175,532)**|**£136,968,608**|
||============|============|============|==============|
## **Properties Fund**
The charity has a number of properties which are used to fulfil its charitable objectives. These properties although they are unrestricted assets, cannot be realised without undermining the charity’s work and reflect the investment in properties held to further the charitable work undertaken. Transfers are made as appropriate to reflect the net change in properties arising from acquisitions and/or disposals.
## **Retirement Fund**
A fund has been designated in respect of the charity’s commitment to provide for the retirement and care, in old age and sickness, of the Congregation’s members. Lump sums received and transfers from general funds are credited to this fund together with the income and capital growth/decline arising from designated investments. A review of the Congregation’s membership has indicated that a fund in the region of £65m and £77m would be required to finance the Charity’s commitment to provide care for its elderly members after taking account of their occupational pension rights. During the year, the fund received investment income less portfolio management charges and investment valuation losses. Considering the continued volatility in investment markets and increasing cost of care, Trustees decided this Fund balance of £84.4m is prudent to maintain higher than the top range of actuarial review. The level of the Fund will continue to be kept under review as the needs of the Congregation’s members evolve and investment markets fluctuate.
- 52 -
**POOR SERVANTS OF THE MOTHER OF GOD**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **20 DESIGNATED FUNDS (continue)**
## **Development Fund**
The trustees reviewed the requirement for development of Charity’s accommodation including social and healthcare facilities. During the year the fund gained £193k from investment income net of portfolio management fees and from investment gains of £346k increasing the designation to £8.9m. The Trustees believe £8.4m fund for the development of social and health care facilities will be sufficient for the next five to six years. The trustees will keep this designation under review and will adjust the designation to meet future needs.
## **Relief of Poverty and Distress**
The trustees have reviewed their commitment to relief of poverty and distress and have decided to increase designation to £33.6m to this fund to support other charitable organisations providing support to those requiring relief from poverty and distress. With ageing membership and availability of resources to support people in poverty and distress it is considered best way for the Charity to carry its mission out through other likeminded charitable organisations who have experience of delivering aid to those in need. Net income in the Fund including the investment gains in the year amounted to £1.9m. Trustees will carefully monitor support requests and deployment of funds expended by the selected charitable organisations.
## **Overseas Outreach Fund**
Congregation’s missions in Kenya and Tanzania are growing and will require increased support in the coming years to develop these missions. The trustees have designated £7m for this fund. Overseas payments amounting to £443k were expended on Sisters living costs, running of clinics, dispensaries, ambulance service, education and food for local communities (including feeding street children) and relief of famine caused by climate change (Trustees report page 14 to 22 details Overseas Outreach support activities). Net gains of £60.6k after donations, investment income and investment gains were incurred during the year and same amount was transferred to General Fund to maintain the balance of this fund to £7m. The trustees will keep this designation under review and will adjust the designation to meet future needs.
## **21. PERMANENT ENDOWMENT FUND**
The permanent endowment represents the original endowment of £50 to be held perpetually and the income alone applied for the furtherance of the Congregation's charitable objects.
## **22. RELATED PARTY TRANSACTIONS**
There were no related party transactions during the year (2024: None).
- 53 -