THE CONGREGATION OF THE SISTERS OF THE FINDING OF JESUS IN THE TEMPLE TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 5th APRIL 2025 RegistÈred Charity Commission Number: 229049
THE CONGREGATION OF THE SISTERS OF THE FINDING OF JESUS IN THE TEMPLE Forthe year ended 5 April 2025 CONTENT5 Page Trustees arld thèir advisers Page Report of the Trustees Page Independent Auditors, Report Page Statement of Financial Activities Pa8e 8alance Sheet Page 10-16 Notes to the Financial Statements
THE CONGREGATION OF THE SISTERS OF THE FINDING OF JESUS IN THE TEMPLE For the year ended 5 April 2025 TRUSTEES AND ThEIR ADVISERS TERMS OF TRUST The trust was set up by Deed dated 20th August 1962 and registered as a Charity, no.. 229049. On 2nd Novernber 1995 the Trustees became incorporated Isee under'structure, Governance and Management" in the Report of the Trustees on page 21. TRUSTEES Sister Marie-Louise le Vern Slstei Valentine Rannou PRINCIPAL ADDRESS 28 Penzance Street LONDON Wll 4QX STOCKBROKERS Quilter Cheviot Senator House 85, Queen Victoria Street LONDON EC4V4AB l.m. Finn & Co. Ltd. 25 Copthall Avenue LONDON EC2R 7AH PROPERTY CONSULTANTS Newmark Gerald Eve One Fitiroy 6 Mortimer Street LONDON WIT 3JI BANKERS The Royal Bank of Scotland plc SOUCITORS SBP Law Glade House 52-54 Carter Lane LONDON EC4V 5EF AUDITORS Cocke, Vellacott & Hill Unit IS City Business Centre Lower Road LONDON SE16 2x8
THE CONGREGATION OF THE SISTERS OF THE FINDING OFJESUS INTHETEMPLE Forthe year ended 5 April 2025 REPORT OF THE TRUSTEES The trustees present their report together with the financial statements of the Congregation for the year ended 5th April 2025 which comply with current statutory requiremer>ts, the requirements of the Congregation's governing document, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordarnce with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. Reference and administrative details are Set out on page l and form part of this report. STRUCTURE, GOVERNANCE AND MANAGEMENT The Congregation 15 a religiou5 order of nuns founded in 1862 by Mother Ste Marie, a French sister of the Miséricorde of Sées, and Cardinal N. Wiseman, Archbishop of Westminster. Its aims were to meet a need of the church in England at the time of the Oxford movement and to help students preparing for the priesthood. In 1892 varfous circumstances caused the transfer of the Generalate to France. In 1966 the Congregation launched into the 'Missionary Activity of the Church" in the Ivory Coast, West Africa and in 1993 expanded its mission to Oua8adouEou, Burkina Faso. The Congregation became a trust Set up by charitable trust deed dated 20th August 1962 and registered as a charity no. 229049 on 28th January 1964. On 2nd November 1995, the Charity commissioners for England and Wales granted a tertifitate of incorporation to the trustees as a body corporate by the name of Yhe Inetsrporated Trustee5 of the Charitv of the Si5ter5 of the Temple". This trust relates to the actlvitles of the Order performed in England. The C¢ngTegation 15 under the authority of the Superior General of the Order who is based in Fran and whose term of office is for six years. The Superior General must visit annually all the houses of the CoNgregation and the communities in Africa must be visited every vear. The cornmunity in EnÈland has a local supervisor, namely Sister Marie-Louise le Vern who is named by the Superior General after due deliberation by the General Chapter (which includes the Superlor General and one representative from England being the aforesaid Slster Marie-Louise le Vernl. Under the terms of the Trust Deed, the trustees are appointed and removed by the local supervi50r, namely Sister Marle- Louise le Vern. The trustees are responsible for the management of the Congregatlon, and they meet regularly during the year. The trustees keep up to date with the Tequirements of Charlty Law and they attend seminars and seek professlonal advlce when nècessary. They are conscious of the Charity Commission requirernent5 relatillg to public benefit and link this to the work that they do in the church locally. The trustees have examined the major strategic. business and general risks, whlch the Congregation fa5 and corlfirm that Systems have been established to enable regular reports to be produced so that the necessary step5 can be taken to lessen risks. TRUSTEES The trustees of the Congregation in office during the year were Sister Marie-Louise le Vern and Sister Valentine Rannou. The trustees meet and confer very regularly and review all aspects of the eharity's operations. At least once a year the trustees like to meet with the stockbrokers in order to review in depth the respective investment portfolios. Any transactions involved in rernittin8 lunds from England to the Mother-House of the Order in France, for the Orderfs Missionary commitment5 in Africa, are re8arded as being in the nature of related party transactions (see note 111.
THE CONGREGATION OFTHE SISTERS OF THE FINDING OF JESUS INTHETEMPLE For the year ended 5 April 2025 REPORT OF THE TRUSTEES Icontinuedl OBJEcfivES AND ACTIVITIES The Con8re8ation'5 rnIS5ion 15 to advance the Roman Catholic faith through charitable works. The nature of the charitable activities is reviewed by meetings every Six years of the Chapter of the Order. In planning activities for the year, the trustees keep In mir+d the Charity Commission guidance on public benefit. Living in today's world. loyal to the spirit of our origins, we are challenged by the needs of our time to take part in the mi55ion of Christ through our activities and our various commitments in Health Education Christian tTalning Youth activities Due to a decrease in the number of sisters in Europe, our Congregation is faced with the closure of communities. The situation is totally different in Africa where we are expanding and opening hou5e5 Wlth the activities given above. A new noviciate had to be built in Abidjan due to an increase in vocations. The Congregation still owns and maintains a community in London. where the sisters are Involved in parish visiting and keeping an open house in the Nottin8 Hill Gate nei8hbourhood. The Con8re83tion's grant-making policy is of prime Importan to the Order and ha5 been established to achieve its objects for the public benefit. Firstly, it is to liaise closely with the Mother House in France as to the appropriate amount to remit thereto for the Orderfs Missionary work in Africa and, when called upon, to support the retired sisters in our home "Home Ste AnnÈ" in Vernon, France Secondly. the Congregation endeavours to meet the demands of charltable appeals 35 and when they arise. ACHIEVEMENTSAND PERFORMANCE The net outgorng resources for the year before gains on investments amounted to £463.489 12024 net incoming resources £208,512). This included investment income and interest totalling £332.291 {2024- £344,189). After debiting net 1055es on investment assets of £405,866 [2024 net guins £427.700J, the staternent of financial activities reveals a decrease in net movement in fund5 amountin8 to £869,355 (2024- incret7se £636,212?. Oetails of grants made in the year and charitable activities in general are given in note 4 to the account5, which includes £700.000 sent to the Mother House in Luxembourg to be shared between dispensary construction work at Komsilga in Burkina Faso, the formation of young sisters in Africa and care of our elderly sisters in France. FINANCIAL REVIEW The balance sheet on page 9 of the financial statements shows total unrestricted funds of £11,833,925 a decrease of £869,355 on the 2024 total. The trustees resolved to maintain the two designated funds, namely The Fund for Aged and Sick Sisters and Students and The Retirement Fund. The position will be reviewed at the end of the next financial year to consider whether or not to regard the two funds as viable. The investment reserve, amounting to £9.107,313 (2024 £8,994,490J, is 3150 a designated fund and Teflects the historical cost of the investment portfolio at the balan sheet date. Movements of fixed assets during the year are shown in note5 6 and 7 to the financial statements.
THE CONGREGATION OF THE SISTERS OF THE FINDING OF JESUS IN THE TEMPLE For the year ended 5 April 2025 The freehold property now comprises the convent in London, which was acquired on 28 July 1998 at a cost of £792,024. The trustee5 consider that the cost of obtalning a fvll Professional valuation of the property at the Balance Sheet date would not be justified. REPORT OF THE TRUSTEES Icontinuedl FINANCIAL REVIEW Icontinuedl At 5th April 2025 the market value of the iTrvestment% was £10,784,68712024 £11,085,892) and wa5 greater than cost by £1,831.890 f2024- greoter than cost by E2,091,4021. The stockbrokers have decreased the liquidity base by £163.156 12024 - decrease to £311,678J and they continue to manage their respective portfolios with caution during these uncertain times. The Congregation's investments are managed on a discretionary basis by Quilter Cheviot and JM Finn & Co. Both parties are carefully monitored by the trustees who receive regular updates and reports. auilter Cheviot maintains about 15% of the portfolio in fixed interest holdings and the remainder in equitie5. JM Finn & Co maintain5 about 12% of the investments in fixed interest stocks, the remainder in equities. The trustees are content with this arrangement, and they note that the overall spread is about 14% fixed interest and 86% in equities. The level of income generated by the respective portfolios is regarded as satisfactory, viz. Quilter Cheviot 2.7%. JM Finn & Co 3.4%, total overall yield 3.0%. These percentages are based upon the closing market values of the stocks and shares held and are less than those achieved in the previous financial year. The trustees expect the broker5 to at least maintain the yield5, at the same time, during these uncertain market conditions, protecting as far as reasonably possible the value of the portfolio and, where prudent, taking any gains which may arise and, if necessary, realising any105se5. Reserves are being maintained at their present level pending consideration of the current position. PLANS FOR FUTURE PERIODS The Congregation still owns a Community House in London where the sisters continue thelr work in the communlty and are happy In their environment. The statutory annual visit the Mother General, Josiane Sagnan, fixed at the end of lune 2025. did not take place due to the serious illness of her General Assistant. Her next visit is planned for the beginning of 2026. In France, the "Petite Unité de Wiè" care unit brings Comfort, security and happiness to the elderly and Sick members of the Congregation. The Sister Bursar of the Order. together with the -Association Gustave Dore. reminds us that our income is very low eompared to our expenses because the sisters, salaries are insufficient to cover the need5 of the retired sisters and the formation expenses of new sisters as well as the communities in Afrlca. As always, the Congregation Is committed to our communities in Africa where the financial needs are huge. The new dispensary in Tanda Ivory Coast has begun to work slowly.. as foreseen, expenditure on staff salaries and furniture require funding. The Sisters are very hopeful that it will work beautifully as the need is so great. At Komsilga, in the countTy5ide ot Burkina Faso, the building work in the construction of the new dispensary is progressing rapidly. The large poor population is so much in need of healthcare. The Chapter is mindful of the prohibitive cost of these undertaking5 which will a150 necessitate the training of managers, doctors, state registered nurse5, midwives, and support staff. All decisions of the Order, about the welfare of our sisters and the welfare and promotion of the people in our carÈ, are taken at the regular meetin8s of the General Chapter and with the advlce of specialists, where approprlate, to act with wisdom and care. We have ten young sisters In different stages of formation.. Sludying for theological decrees and training as nurses and midwives and accountants. The Congregation is very aWHTe of the cost of these decisions. but the survival of the Order is at stake. However, the Congregation remain5 determined to develop their mission and to move speèdlly into the future.
THE CONGREGATION OF THE SISTERS OF THE FINDING OF JESUS IN THE TEMPLE Forthe year ended 5 April 2OZ5 REPORT OF THÉ TRUSTEES Icontinuedl TRUSTEES RESPONSIBILITIES FOR THE FINANCIAL STATEMENTS The Trustees are responsible for preparing the financial statements for each financial year that give a true and fair vlew of the state of affairs of the Congregation at the end of the financial year and of the incoming resource5 and application of the resources of the Congregation for that period. In preparing these aecounts the Trustees are required to.. selett suitable accounting policies ané then apply them consistently; observe the methods and principles in the applicable Charity SORP., make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any material departures that must be disc105ed and explained in the financial statements,. prepare the financial statement5 on a goin8 concem basls unless it is inappropriate to presume that the Congregation will continue to operate. The Trustees are responsible for keeping sufficient accounting records which disclose with reasornable accuracy at any time the financial positlon of the ConÉregation and to ensure that the financial statements comply with the Charities Act 2011 and re8ulation5 thereunder, the Charities IAccounts and Reports) Regulation5 2008 and applicable accounting standards. They are also responsible for such intÈrnal tontrol as is deemed necessary to enable the preparation of financial statements to be free from material misstatement whether due to fraud of error. The Trustees are also responsible for safeguarding the assets of the Congregatlon and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities. AUDrroRS Messrs. Co¢ke, Vellacott & Hill have signified thèlr wlllingness to continue in office a5 the Congregation's auditors. Approved by the trustees and signed on their behalf.. M. L. le Vern 9 December 2025
THE CONGREGATION OF THE SISTERS OF THE FINDING OF JESUS IN THE TEMPLE For the year ended 5 Aprll 2025 INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE CONGREGATION OF THE SISTERS OF THE FINDING OF JESUS IN THE TEMPLE Opinion We have audited the financial statements of The Congregation of the Sisters of the Finding of Jesus in the Temple for the vear ended 5th April 2025 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the accounts includin8 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 (united Kingdom Generally Accepted Accounting Practice) including -Accounting and Reporting by Charitie5'. statement of Recommended Practice applicable to charities pieparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I january 20191 In our opinion the financial statements give a true and fair view, of the state of the charit(s affairs a5 at 5th April 2025 and of its incoming resources and application of resources, for the year then ended. have been properly prepared in accordance wlth Unlted Kingdom Generally Accepted Accounting Practlce.. and have been prepared in accordance with the requirernent5 of the Charities Act 2011. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our respon5ibilitle5 under those 5tandard5 are further described in the Auditor's responsibilitie5 for the audit of the financial Statements section of our report. We are independent of ihe charity in accordance with the ethical requirernents 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. Concluslons relatln8 to 805ng concern In auditing the financial statements. we have concluded that the trustee5' Use of the going concern basis of accounting in the preparation of the finan¢ial statements is appropriate. Based on the work we have performed. we have not identified any material untertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the dirertors with respect to going concern are described in the relevant sections of this report. Other Informatlon The other information comprises the information included in the annual report, other than the flnanclal statements and our auditor'5 report thereon. The tru5tee5 are responsible for the other information. Our opinion on the financial statement5 does not cover the other information and we do not express any form of assurance conclusloll thereon. In connection with oTrur audit of the financial ststement5, our responsibility is to read the other information and, in doing 50, consider whether the olhei information is materially inconsistent with the financial statements, or our knowledge obtained in the audii or otherwise appears to be materially misstated. If we identify such material inconsistencies or appaTent material misstatement5, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other informatlon. If. based on the work we have performed, we conclude that there is a rnaterial misstatement of this other informatlon, we are requlred to report that fact. We have nothing to report in this re8ard.
THE CONGREGATION OF THE SISTERS OF THE FINDING OFJESUS INTHETEMPLE For the year ended 5 April 2025 INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE CONGREGATION OFTHE SISTERS OFTHE FINDING OFJESUS IN THE TEMPLE Icontinuedl Matters on which we are required to report by èxteption We have nothing to report in respect of the following matters in relation to which the Charities IAccounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the inforrnation given in thè Trustees, Annual Report is inconsistent in any material respect with the financial 5tatements,' or sufficient accounting reco¥ds have not been kept. or the 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. Responsibtlities of the trustees A5 explained More fully in the Trustees, Responsibilities Statement set out on page 5 the trustees are responsible for the preparation and presentation 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 frorn material misstatement, whether due to fraud or error. Auditor's respon5ibilitie5 for the audit of the financial statements We have been appointed as auditors under section 145 of the Charities Act 2011 and report in accordance with Act and relevant regulations made or havin8 effect thereunder. Our objectives are to obtain reasonable a55urance about whether the financial statements as a whole are freè from material misstatement, whether due to fraud or error. and to Issue an auditorfs report that includes ovr opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audlt condutted in ac¢ordènce with ISAS IUKI 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 5taternents. A further description of our responsibilities for the audit of the financi31 statements is located on the Financial Reporting Council's website at.. www.frc.org.uk/auditor5responsibilitie5. This description forms part of our auditor's report. Use of our report This report is made solely to the trustees. as a body, in accordance with Part 4 of the Charities (Account5 and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to them in an avditorfs 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 and the £h3Tity's tru51ees as a body for our audit work, for thi5 report, or for the opinion we have formed. Co¢ke, Vellacott & Hill Chartered AccoTruntant5 and Statutory Auditor IS City Business Centre Lower Road LONDON SE16 2XB 9 December 2025 Cocke, Vellacott & Hill are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
THE CONGREGATION OFTHE SISTERS OFTHE FINDING OF JESUS IN THE TEMPLE For the year ended 5 April 2025 STATEMENT OF FINANCIAL ACTIVITIES (incorporating Income and Expenditure Account) General Fund Designated Funds Total 2025 Tottsl 2024 Notes Income from Donations and le£acie5 Charitable activities Investments Other 10,826 332,291 10.826 332,291 16,606 344,189 Total 343.117 343,117 360.795 Expendlture on Raising funds Charitable activities Ildl 58,428 748,178 58,428 748.178 56,060 96,223 Total 806,606 806,606 152,283 Net gains / Ilossesl on investments 1405,8661 1405,8661 427.700 Net Income I lexpendlturel 1869,3551 1869,3551 636,212 Transfers betwtÈn funds io 1112,8231 112,823 Net movement in funds 1982,1781 112,823 1869,355} 636.212 Reconclllatlon of funds Total fund5 brought forward io 2,619,685 10,083.595 12,703.280 12,067,068 Total funds carried forward io 1,637,507 10.196,418 11,833.925 12,703,280 The notes on poges 10 to 16fom? part of thesefintincia15tatgrnEnts.
THE CONGREGATION OF THE SISTERS OFTHE FINDING OF JESUS IN THE TEMPLE Forthe year ended S April 2025 BALANCE SHEET a5 at 5th April 2025 Notes 2025 2024 FIXED ASSETS Tangible assets Investments 792,070 10,784.687 792.070 11,085,892 Total flxed assets 11,576,757 11,877.962 CURRENT ASSETS Debtors Cash at bank and in hand 59,751 234,747 56.214 806.434 Total current assets 294.498 862.648 LIABILITIES Creditors.. Arnounts falling due within one year 137,3301 (37,330) Net current asset5 Iliabilitiesl 257,168 825.318 Total assets less current liabilities 11,833.925 12.703.280 FUNDS OF THE CHARITY Total unrestricted income funds io 11,833,925 12,703,280 Total charlty funds io 11.833,925 13,703.280 The financial 5taternents were approved by the trustee5 on 9 December 2025 and signed on their behalf by.. M. L. le Vern Trustee no es on pt7ges 10 to 16fvrm part of the5efinonciolstoten7ents.
THE CONGREGATION OF THE SISTERS OF THE FINDING OFJESUS IN THETEMPLE Forthe year ended 5 Aprll 2025 NOTES TO THE ACCOUNTS I. GENERAL INFORMATION The Congregation is a charity registered with the Charity Commission in England and Wales as number 229049 on 28 January 1964 and Is Boverned by Charitable Trust Deed. The address of its re815tered office is clo Cocke, Vellacott & Hill, 15 City 8usiness Centre, Lower Road, London SE16 2XB. 2. ACCOUNTING POLICIES The principal accounting policies are summarised below. The accounting polTaes have been applied consistentlv throughout the year and preceding year. lal Basis of preparatlon and golng concern The financial statements of the Congregatlon are prepared under the historical cost convention as modified by the revaluation of certain fixed assets a5 Stated in the relevant notes to these accounts. The financial statements are prepared in accordance with applicable AccoUntig Standards. with the recommendation5 Of Charity Commi55ion in "Charities SORP IFRS 1021" other than set out below, and with the Charities Act 2011. The accounts are prepared in British pounds sterling which is the functlonèl currency of the charity. The trust constitutes a public benefit entity as defined by FRSIO2. The trustees consider that there are no material uncertasnties about the charitvs ability to eontinue a5 a 80ing concern. Ibl Income recognition Wilh the exception of voluntary income, which Ts included In the statement of financial activities when received. all income 15 credited to the statement of financial activities when it becomes receivable and can be measured Dividend Income Is recognised once the divldend has been declared and notification has been received of the dlvidend due. Icl Expenditure recognition Expenditure is included in the statement of financial activities as soon as there is a legal or con5tructNe obligation comrnitting the charity to that expenditure, it is probable that settlement will be Tequired. and the amount of the obligation can be measured reliablv. Expenditure includes attributable VAT for that expenditure which cannot be recovered. All expenditure ts accounted for on an accrua15 basis. All expenses including support cost5 and governance costs are allocated or apportioned to the applicable expenditure headlngs. See Ildl below for further inforrnation. Grants payable are payments made to third partles In the furtherance of the charitable objects of the Congregation. Sn the case of unconditional grants these are accrued once the recipient ha5 been notified of the grant award. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the Congregation. io
THE CONGREGATION OF THE SISTERS OF THE FINDING OF JESUS IN THE TEMPLE For the year ended S April 2025 NOTES TOTHE ACCOUNTS Icontinuedl ACCOUNTING POLICIES Icontinuedl Idl Costs and basis of apportlonlng costs lil The costs of raising funds comprise the fees paid to the two stockbrokers in connection with the management of the charity's Ilsted investments. lill Charitable activities are those costs directly incurred in the provision of care servi5 and supporting the Order in their pastoral work both In the UK and overseas. liiil Governance costs include those costs directly incurred in complying with the statutory oblSgatlons of managing the charity. lel Taxation The charity is considered to pass the tests set out in paragraph I schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charity for UK corporation tax purpose5. Accoidingly. the charity is potentially exempt from taxation in respect of incorne or capital gains received within cate8ories covered by chapter 3 part 11 of the Corporation Taxes Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to thè extènt that such incorne or gains are applied exclusively tty ¢haritable purposes. VAT Incurred is not recoverable and Is treated as part of the expenditure heading for which it was incurred. lfj Tangible fixed assets The London property and the motor cars are valued at cost. The Bristol property was sold in a previous year. No depreciation is provided in these account5 in respect of properties as the trustees consider that any depreciation charge would not be significant. Depreciation is applied to the undernoted tangible fixed assets as follows.. Furniture and fittings 25% per annurn on reducing balance Motor Cars 25% per annum on reducing balance Igl Fixed asset Investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value a5 at the balance sheet date. For listed inve5tment5, fair value is based on the closing middle market price on a recognised stock exchange. RealTsed and unrealised gains and losses are accounted for in the statement of financial activities in arriving at the net movernent ol funds for the year. Investment Income has been taken into account on the basis of the due date lor payment. Ihl Funds structure lil Ullrestricted designated funds.. these funds are amounts set aside and deslgnated for specific purposes by the trustees. lill Unrestricted general funds.. the general reserve represents those funds not designated, which the trustees may use in the furtherance of the charitable objectives of the Congregation. For further details of each fund are disclosed in note 10. li
THE CONGREGATION OF THE SISTERS OF THE FINDING OFJESUS INTHETEMPLE For the year ended 5 April 2025 NOTES TOTHE ACCOUNTS Icontlnuedl INVESTMENTINCOME 2025 2024 Income from investment assets listed in the UK Income from investment assets Ilsted outside the UK Interest 256,072 61,105 15,114 258,184 46,964 39,041 332,291 344,189 4. CHARITABLE ACTivrriES Grant Support of funding Sisters and activltles pastoral work Govèrnance Total 2025 Totol 2024 Grants and donations Isee belowl Staff costs Isee note 51 Provislons Cost of running premises Property repairs, maintenance and refurbishment Depreciation Isee note 61 Sisters, living and pastoral expenses Training and Sisters, formation Bank charges Auditors, remuneration.. Accountancy and other services Audit Legal and professional fees 700,917 700,917 403 4,924 10,933 4,924 10,933 4.001 8,807 6,209 6,209 64,515 15 1,724 1.091 187 1.426 3,123 126 1,426 3,123 126 9,180 6.000 5.340 9,180 6.000 5.340 8,232 5,748 1,500 Total 2025 700,917 26,741 20.520 748,178 96,223 Tota12024 403 80,340 15.480 96,223 Grants and donations 2025 2025 No. 2034 2024 No. Remittance to Mother House in France for the Order's missionary work in Afrlca Isee note 111 Remittance towards major work5 at Mother House in France Mass offerings and small donations 71x1,022 895 403 700,917 4Q3 12
THE CONGREGATION OF THE SISTERS OFTHE FINDING OF JESUS IN THE TEMPLE For the year ended 5 April 2025 NOTESTO THE ACCOUNTS Icontinuedl PARTICULARS OF EMPLOYEES AND TRUSTEES St. Angela's. the residential home for the elderly, ¢losed on 31" May 2012. Thereafter the charlty employed two staff to administer the property in preparation for its sale in May 2013. Since then. the charity ha5 had no ernployees and is administered by its trustees. As members of the Order, the livlng expenses of the trustee5 during the year were borne by the trust for the residents in the English House and when there are visits to England frorn the Mother House in France Inote 31 but the trustees recesved no rernuneration or other benefit5 in connection with their duties during the year. TANGIBLE FIXED ASSETS Furniture and flttings Freehold Property Total Cost or valuation At 6th April 2024 Additions Disposals 792,024 8,897 800,921 At Sth April 2025 792,024 8.897 800,921 Depreciation At 6th April 2024 Disposals Charge for the year 8.851 851 At 5th April 2025 8,851 8,851 Net book value At 5th April 2025 792,024 46 792,070 At Sth Apri12024 792.024 46 792,070 The assets above are held for charity use. The freehold property comprises a convent In London at the cost of £792,024. The trustees do not believe it is necessary to carry out an impairment review. 13
THE CONGREGATION OF THE SISTERS OF THE FINDING OFJESUS IN THETEMPLE For the year ended 5 April 2025 NOTES TOTHE ACCOUNTS Icontinuedl FIXED ASSET INVESTMENTS 2025 Market value 2025 Cost 2024 Market Value 2024 C05t At 6th April Additions Disposals Realised gains Ilossesl Unrealised gains Ilossesl 10,695,699 941.288 1673,4711 7.375 1413,2411 8,604.297 941.288 1673,4711 8,162 10,QII,707 7,827,778 3,122,567 3,122,567 {2,866.275} 12.866.275? 218,850 520,227 208,850 At 5th April 10.557.650 8,880,276 10.695,699 8,604.297 Cash awaiting investment- sterling 227.037 227,037 390,193 390.193 Market value at 5th April 10,784.687 11,055,892 Historic cost at 5th Apr51 9,107,313 8,994,490 The irnve5tment5 are analy5ed as below.. Investments listed in the UK Investments listed outside the UK 7,178.709 3,378.941 5,663,251 3,217,025 6,994.308 3,701,391 5,264,092 3,340,205 10.557.6SO 8.880,276 10,695,599 8.604,297 None of the Investments exceeded 5% of the value of the portfolio at the year-end. In accordance with the provision of the -charities SORP IFRS 1021" published by the Charity Commission. inve5trnents are shown in the accounts at their market value at the balance sheet date and the galns Ilossesl on revaluation have been credited Idebitedl to funds. At 5th April 2025 this has brought £1,677,374 into Investment value and funds (2024- £2,091,402 brought in). This is reconciled as follows.. 2025 2024 Reconclllatlon of movements In unrealised gains on investment assets'.- Unrealised gains arising on revaluation brought forward at 6th April Add Ideductl in respect of disposals in the year 2,091,402 2,183,929 17871 1301,377) 2,090,615 1.882.552 Net gains Ilossesl arising on revaluations in the year 1413.2411 208,850 Unrealised gains arising on revaluation carried forward at 5th April 1,677,374 2,091,402 14
THE CONGREGATION OF THE SISTERS OF THE FINDING OF JESUS IN THE TEMPLE For the year ended 5 April 2025 NOTES TO THE ACCOUNTS Icontinuedl DE8TORS 2025 2024 Dlvidends due Prepayments S9.751 56,214 59,751 56,214 CREDITORS.. Amounts falling due within one year 2025 2024 Ac¢ruals 37.330 37,330 10. TOTAL FUNDS Incoming 8alances ut resources and 6th Apri12024 gains Transfer5 between funds ResouTces expendèd and losses Balantes at 5th April 2025 Unrestricted funds Designated funds.. Fixed assets fund Investment reserve Fund for aged and sick sisters and students Retirement fund 792,070 8.994.490 792,070 9,107,313 112,823 10.000 287,035 10,000 287.035 10,083,595 112.823 10,196,418 General reserve 2,619,685 343.117 1112,8231 11,212.4721 1.637,507 Total 12,703,280 343.117 11,212.4721 11.833.925 Represented bv'.- Unrestricted funds Tangible fixed assets Investments Net Current assets 792.070 10,784.687 257.168 11.833.92S 16
THE CONGREGATION OF THE SISTERS OF THE FINDING OF JESUS IN THE TEMPLE For the year ended 5 April 2025 NOTES TO THE ACCOUNTS Icontinuedl 10. TOTAL FUNDS Icontintledl Description of fund5'. lal The fixed assets fund comprises the amount of the net book value of the tangible assets at the balance sheet date. Ibl The investment reserve fund represents the cost of the investment5, these being retained as a peTrnanent investment base. Icl The fund for aged and sick sisters and students is an amount set aside to meet any demands for fund5 from aged and sick sisters and students. Idl The retirement fund exists to meet any calls for funds to assist 51Ster5 of the Congregation who have or will have retired. lel The general reserve is unde5ignated income. 11. TRANSACTIONS WITH RELATED PARTIES As indicated in Note 4 to the financial sratements the Cong¥egation made one remittance of £700,022 {2024 - none) to the Mother House bank attount in Europe for transmisslon to the Order's missionary work and building works in Africa. These works are described in the Trustees, Report. As explained in note 4, as rnembers of the order, the living expenses of the trustees are borne by the Trust. No rernurTreration or other benefits were received by the trustees in connection wlth their duties during the current or preceding year. 16