118 Chalet FAt* TrUSTEES catheri￿ McGovern OSF {RIP 21 Aug 25) FAJ¢th Plunkett OSF Ricbard King Sr Alice McElroy OSF Sr Eiiern PluThk¢tt OSF Sr catheri￿ MrG(w¢rn OSF (RJP 21 Aug 25) Fr T￿ MCG￿ MSFS (from 24 Jatt 25) TEAM LEADER SrMu8rt Alic¢ McEkoy OSF (vTrtil 24 Jott 25) Fr Tary M¢Grth MSFS (from 24 JaTh 25) Si*¢rEÉlea PlwthOSF T07Ers L Exexttul IUA 24 GftL4Thor P SWIX7HP INDEPENDE￿ EXAMINER Adam Hakny FCA Haysmx LLP io (Jwi Stte¢t PJX EC4R IAG INSiIRANCE BROKERS I" Fkny. Gail H(x I Churcbill Plxe E145HP FRANCtSCAN sisfERS OF MILL IULL TRU￿E￿￿' A]YIWAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustces present their rwi alld Accounts for the year eryled 31 March 2025. INfRODucfioN AND HisfoRY OFTHE CHARITY (CONGRECATION) The Congrewion of the Frdnciscan Sisth of Mill Hill is an tnstitute of ap)stolic women within the Roman Catholic Churcty founded iti 1868. The story of the Congregation began 150 years ago in Hxkw. LoDdoL The five pioneering worn￿ utth the leadership of Mary Basil wkn founded the con￿￿70n, were honed by their previous experiences (as Anglican Sisters) among the destitute people of Soho and Ha¢kncy where Choler￿ smallpo& aDd appalling living conditions were rif& Received into the Roman Catholic Church in 1868, th¢y continued a[￿ develo￿1 their wotk aD￿n8 the ￿orest in society through various fonns of social WO￿ health Ca￿ skills training and educ￿10￿ Attracted by their love, joyful servtce of the poor and Franciscan way of life. other women soon jotnol and their numbers steadily grew. MOTHER MARY FRANCIS BASIL (1833-1886) GROUP OF EARLY SISTERS (eirca 1874) FOUNDRESS Ov¢r the next one hundrul Yea￿ the Sisters reswThknl to Calls for help witbin the UK and Ireland, and fith afield: 1882 USA 1902 UGANDA KENYA 1960 souTh AFRICA Baltimore FRANCISCAN SISTERS OF MILL HILL TRUSTEFS, ANNUAL REPORT (Co•tinotd) FOR THE YEAR ENDED 31 MARCH 2025 Across three Contit*nts Sistas engagaj ID a Y￿1¢ty of challenging ministriffj PiODeeriDg many projects aDd maintaining other4 the emph&sis (m helping a￿j emrthvering tbe Nx)rest and voi¢eless in ￿tety. Some of these areas included: JUC':I flO_N -Niii3ery to Unlversjty, Speclal needs: phySI￿lI￿e_￿ta1, Skllls T_fdlni HV.Al'fH CARE Nurses Doctors -Mld_wlves Cll_nlcs -HoiTrie _He<h -HOspI￿lS Moblle cl1￿1£￿ -HIV/_AIDS Health Visitors CoL)Ill_Illlllty based_projects for the deaf vlsii Imp&lred. A_dd_ed_ to these mlnlstrAes are many .UIEAS of SOCI.4T P_AIIISH P3J'l OB LI WOIU< FRANCISCAN SISTERS OF MILL HILL TRUSTEES, AIMIAL REPORT {CMkn•ed) FOR THE YEAR ENDED 31 NIARCH 2025 From that one small group of five pioneering women in England in 1868, there have sprung four independent C(XWWons of Religious Sisters in USA Fast Afric Ireland and UK. Representatives of the four Congregations: Franciscan Sisters of Mill I￿1 Franciscan Sisters of Baltimore (now Milwaukee) Francis&qn Missionaries for Africa Little Sisters of St FrancAS (East Africa) From the 1970's onwards a sea change OCCUTred in active religtous orders: most Congregations in EuroF and USA saw a mthed decrease in the number of women joining. (The oppx)site has (Kcurred in Afrlca!) With no new applicants and an ageing membership, we welcome new challenges to the way we live our Francis&8n calling. Our desire to be a meaningful presence among the Communities in which we live and serve is as strong as ever. in Rom4 d*ed 24 Janutty 2025. Fr T#ry Mdkath MSFS w&8 appoiD*4J P(¥￿1￿(al C(Anmisw of the Qmgregatton The FraDcisc•n SiJ*rs of MIll ate a w of pomen airn is sthl w fjJ161 the ¢bvism oftheir F(xmdress Mary FMKis Btsil: 'To mttt the ￿d5 ofthe workl oflwthy., numiws of Si*Y& PubHr bement publi¢ benefiL The Trus** confinn that tlw with the thty in 17 of the a￿111￿ Ad 2011 to have thie Visiting the eldtrty in SL VI￿￿$N￿51TrS HLWDfy Si5tU5 fjr5t wert fw¢¥e in oCtsAJv2￿7 aTrJ Our CoudtsdDDs reThfDd FRANCISCAN SISTERS OF MllL HII TRusfEES' ANNUALREPORT {CoAtl*•ed) FOR THE YEAR ENDED 31 MARCH 2025 I￿V￿mE￿ POWER any donated Éntst fund& so the Tnth¢ Ad 2(KKI •wlie INVESTmEr￿ POLICY The TTUSt¢es hav¢ appK)inkd Bwc18ys W¢alth InvestsDutt Manage￿t Limited to manage the porrfolto subj¢¢t to a medium degree of risk. The Trustees intend the tul Val￿ of the as5¢ts be rnaintsit￿d and ¢[khan¢￿ over ihe long" teTm invesmient in a Frfolio of equitiffj fixed stocks and cth. The TnL*S hav¢ instru¢*d B8r¢lays Wealth to adopt an ethical policy and use their t￿t endea¥wingthe diswhjtion ofthe fonnu No.1 adviser was aprK)inted trustee. wxl siwe the )vr-•MI Fr Tary in new mk Iw app)iDtrd hi￿￿elf a Tn￿. No FRANCISCAN SISTERS OF MILL HILL TRUSTEES, ANNUAL REpoKf (co•ti•ud) FOR THE YEAR E]¥DED 31 hlARCH 2025 STATEME￿ oFTRu￿EFS. RFSPONSIBiuriLs law and Uni*d Kingthm Generally AcceNed Acc￿]ng Pr￿1 financial year which give a aThJ fair view of thB swe of affaiys of ts Chwity of thE anroming resoutC¢5 and select suitable accou￿8 ￿licIeS and then apply them COD5iststIy. obsetve the meth(th 8MI principles in the Clwili¢5 SOKP. whether the applicabk aCCo￿tiftg SthndaTth been foliowrt Subj￿ to any material deport disc105ed #nd explartwj in the financial 5t*¢m¢n clwlry will ¢oll￿u¢ in busines financial position of the Charity aad enable them to erL%ute the fiDancial ststhents ¢omply with the Clwiti¢s Act 2011. th¢ applicabk ChaTity (AccLMmts atMI Reports) Regu￿10￿ and the provisiorts of the tr￿St deed. They are also respon5ibl¢ for Safeguarding the assets of the dMTity hence f(r tsking trawnable steps for weventiott and detection of fraud and other irregularities. Sr. Margaret Alice McElroy TnL8ie¢ IND£PENDENT EWINEILS. REPORT TO THE TRusfELS OF THE FRAi¥CISCAN SI￿￿1￿ OF MILLHILL I r¢p¢rt to the Tntstees on my ¢xamiR*ion of the a¢*tyJTrts of The FrwiycaD Sikn of Mill FfjIL tsthe yearended 31 March 2025, which are set out ￿ page5 1 I to 20. 2011 Clhe 2011 Acf). lthe ￿ll￿teS are satisfied that att audil is Wt thi5 ￿ under section 14412) of the 2011 Act and have chosen InSt￿d to have an itMlepaMJ¢nt exarni￿. I report in rw of my examin*ion ofthe Trust's xcixmts as ￿￿led secti￿ 145 ofthe 2011 A¢L In carrying out my examination I have follo*td th¢ requirema￿ of the a￿11¢able DI￿10￿5 given by the CharAty Commission undersettion 145(5Xb) of ￿ 2011 Act Jndeptnde•t ex•miDePJ statem￿¢ I have completyl my eXami￿tIl￿￿ I CLth tt*tno have come to rnyatteDtion giving mecaw¢ to believe that in any material respea". accounting Yecord% were kept in rwi of th¢ ¢lwity &s required by se¢tioD 130 of 2011 Ac¢ or 2. the accounts do accord with those rtt0￿. 3. the xcounts do not comply with the applicable the fomi ond CODlet￿ of acwurts set in the Chariiies (Accounts and RW) Regu￿10￿$ 2008 other than any requiEtrnent that the accounts 8ive a true and fair view which is not * mafterconsidered &$ r*rt of an examination. This report is mad¢ solelyto thc Charitys as * iKhty. in with Part4 of the c1￿1t1￿ (Accounts a￿d Reports) Regulations 2CAJ8. My work lus iyerk ￿￿lert￿¢ll so that J might st* ￿ the Chari￿5 those mHtt¢rs I am required to sthte kn them in aft ¢xaminerfs re￿1 and for no (dherFW To the fvIl￿ exlent pennin¢d by law. I do not or assume respO￿￿￿111ty ￿ anyone other th7n ts Charity aThJ the Chartws Tn￿tee$ as a body. for my work or fvthis T¢pwL AdaJD Halsey FCA Haysmac LLP 10 (￿een Str￿t Pl￿¢ Londo EC4R IAG D•¢: 16 December 2025 10 FOR THE YEAR TO 31 MARCH 2tr25 2nS Tot*1 2024 Tot•1 nd Income from: 3,475 93.IM6 59.181 3.475 4,010 70.183 61.177 5289 Invutments her 59.181 Totsi 155. 155,702 140.659 Exp¢ndl¢ure om: f•Dds 17.703 17.703 IA406 Ch*rflxbk wrtivities Sisiers, matntew aryi w4lfa 237.rn 88248 36.864 362.890 313,784 Totsl txpthditwre 255.481 380.593 330.190 Net ezpeDditsrn *#d ttt •vewents funds befohy galths OM IDv¢*tm¢4ts eJ9.TTr) (88248) (3A864) 1224.891) 41257 (189531) 193.652 41257 MOV￿e*t ID Fwud• (99.779) (46991) (3A864) (183.634) 4.121 (46991) 4Q991 {146.Tn)) (3fi864) 1183.634) 4.121 Reeotttili*tlon of Fulld bRIa￿¢S brou81rt f(Thwd at l Apil 2024 E162J22 £2250.{￿ £iJri,920 fAJ40242 £AJ3&121 Fu4d hl#m¢es ￿rrIed fornyd at 31 M•r¢h 2025 £615552 £1250,fAXI £1291.056 £A.156.fA18 £AJ40242 AS AT 31 MARCH 21ns Flxed A8gets: Tan￿11]e fixed assd5 InvesttneDts 1291.462 1461133 1.337,952 1444.482 3.753J95 3,781434 Cirreot Amets 9.779 409238 7.339 565.999 Cash at bank and ID Imnd 419.017 573338 within one y (16AM)4) ()5.530) N¢t Carrellt As￿ts 403.013 557.808 4.156 4.340242 615J52 762,322 2250,￿ lJ27.920 1291,056 3541JI56 3.577.920 4.15A608 4J4Q242 w¢¥e signed below *)n its bdwlf by. Sr. Mar8arrt Alir¢ McElroy 12 FRANCISCAN SISTERS OF MILL HILL NOTLS TO THE ACCOUNTS FOR ThE YEAR ENDED 3J MARCH 2025 GENERAL INFORMATION Frallcise8n Sisters of Mill Hill is dwity ￿land aThi Wale4 with the ¢I￿￿ty registration number 232494. The registered office 15 The G¢nualtt 118 Estate. HarnMe￿ tane. LoThlofy NW7 4DN. The PTincipal objecuv&s of the clwity aTe set•Nrt within the Tru*es Rwi in the thr¢ wJmiRisl1*￿ ￿lion. AccouNfiNG POLICIES of the accounts ate laid out below. a) of Pre￿rAt¥ The financial xwements ha￿ b¢¢th weFwJ¢d ID ¥¢(wdoJtt with the Charilics SORP (FRS 102). ArLounting gnd Rewtin¥ by Cljarities: Sw¢fftrt of Rttonmendeil Prndic¢ wI￿ab￿ to ¢kniii¢s prewing their accovnts in aCC(¥d￿ with the Financial jiepxti￿ Standatd applicable in the UK and iiepublic of Irelaod IFRS 102) {effedive l Jaow 2019). the Fit)arKial Reporting Stsrmlard wlicable in theUK and Republi¢ of 1rt1ond (FRS 102) and the awilits Att2011. The CP￿rIty meets the definition of a ￿blIC benefit eiitity Unthr FRS102. Assds aod liabilities are initially r¢co8nis•a * lJi#ori￿l c05t or trans￿ v•lu¢ unk55 (thvwi5¢ #ated ill the rekvant J¢coynlirtg ￿l1¢Y not¢(s). PrepHrtitioti of the accowts requitrs the Tnthzs to nllke sl8nlfi(￿t judgeme￿3 estirnat￿ The items i c) Assessme#t of goi•g co•¢¢rA 4c¢ounL5. The Tr￿ ￿ve rnttde thi5 as*55￿ in rew to a pNiod of one ycar from th¢ date of approval The TTU5tees of the have rffjcIUd￿ 114t thNE arr DO Materi￿ wK¢ttsintie5 Telatsd to events or (YKlitiOn5 m&y c&st significant th¢ abilty of th¢ io conliDue L% a going ￿ncern. The Tn￿ ar¢ of the (4yinion thatthe will Imve suffici¢nt tt50Urn to rn¢et its liabilities &% they fall th￿. The most signifiunt ore&s ofiudgetr¢nt that affxt iterns ITr the xcowits are detsiled atrrfTrv¢. With rewd to the next accowjting the y¢8r ending 31 M￿h 2025. the mc6t SignifKa￿ are85 th*t affe¢t the carrying value of the ￿Sets bEid by ts th•rity are kv¢i of r¢ttllD 8Dd the pCrfornw￿ of the d> C*sh Flow Sl*temetst (SORP 2015) ftysJMlltrehaTitr5 lthvt clKtsth tKX a c45h tlow 14 AccouffflNG POLtClLS (e••tw dividend ¢kn. ¢lwity" thi5 55 uprn notificati1￿ of the inkntst paid wwabk bythe bank it 1$ prd)fibk that will be reqJue4L and thp of the be Measured r¢li&bly. Expelld1tu￿ on clwitsble 8Ltivities iffj¢hth5 thE of runDiDg the charity's CODveDts as well as all h) T•4gible Fixed Awets 15 FRANCLSCAN SISTERS OF MILL HILL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 AccouffflNG VOLlCtFS (c••tL••Ed) I)ew￿l￿10￿ is thla*d by tt* stiaight.l1￿ to write off the less wticipated residual Val￿ ov¢r the exp¢¢ted u5ethl lives of& 1.837.075 {13.995) At 3 l March 21r25 26.798 1.761l55 17.022 17.105 1.823.080 DEPRECIATION At l April 2024 Charge for the year BlitniDat¢d on di%wl 24,648 1.622 436J85 35243 499.123 38327 (5.832) 5VI 875 (5.832) At 31 Much 2025 26270 471.628 1&615 17.105 531.618 NET BOOK VALUE At 31 March 2025 £528 £12y)S £407 £1291.462 At 31 M¥rch 21Y24 150 £lJ25.T £9.038 £1.337.952 Portfollo Totsl M8rket Vah* at l AFKII 2024 Additions dwing year Disposals (at openiD8 mats v•h*) Net inve5ttneot gains £36.756 £553.402 (£573.695) 4407.T26 £2,444.482 £492.1￿) £1.045.502 {£495.413} (£1,069,I08} £41257 £41257 Ma￿t v*lue at31 March 2•25 £16.463 1445.670 £2.462.133 Cost At 31 Mlrcb 2825 £16.463 £2203.119 £2,219.5r2 2024 £59.181 £61,177 17 £7J39 161 15.530 DESIGNATED FUNDS 1997 indicated that 4 fulld in the regirn of £2.78 million would be TequiTe4J to the Charlty's comMi￿ent to w>vide cwt fv its eldeTty after tskitig of their OCCUpth￿ pertsion rights. However. it is frel that it is apwwi*e to retkct the inves¢Diait ID fjxed asxts by of a desigt*d fim(L The balanc¢ of b) Am•tysb ofMovetyMts- 2•2S ID¢omel B•lMee at (expudtt•r¢) IApr 31 M*r¢b 2025 Retiretnellt Fu￿1 (46,991) (3&864) 46.991 2250,IXX) 1291.056 i)￿￿20 3,5TI.920 (s3￿55) 46.991 3.54J.056 Ao•l)ryii rfMov•m¢•ts-2•24 {¢spMdM•rn) ¥od Ba14Aee *t 31 March 2024 131189 (3Q9Y2) (132.189) 17&887 . 2250.￿0 1327,920 1.185,965 £3.435 952SI 46.698 £3.577.g20 EXPENDITURE £17.703 £IA406 Welfare 5&134 38,3ZI 141.(IM 44.449 40.742 31.030 57.840 41579 122.610 39.6 25.448 16.656 8.991 Depre¢i8tion 361W) 313.784 2024 34 7.170 5.080 £9204 £8.991 36231 35.619 4,041 fA4.349 £39.660 The av¢rage of employees itithe yo wa$2 (2024: 2 19 FRANCISCAN s￿ERs OF HILL NOTES TO ACCOiIMS (eomti•w¢d) FOR THE YEAR ENDgD 31 MARCH 2O1S TRANsA￿lONs wrrH TRusfELS AND REtATED PARTIVS which they have ren0￿ all rights to ijKotne and rApitaL The (￿rIty Fyovides for the essential n¢¢ds of all the memlxr& Tr living ¢osts of those trustee5 who are memkn of the CcfflgreWiOD ar¢ th¢rdor¢ borne by the Charity in the same way a5 th￿e of siste￿ The tru#eLsthe[ef￿C rtceive w benefit by virtue of th¢ir position as trustees. This leaves them fFe¢ kn cally out their prime wrp)s4 to advonce th¢ Roman Catholic religion. No date (21Y24: £Nil). ANALYSJS OF NET A&SETS BY FUND- 2015 Fwmd Fw•d Total Fund BaJanw8 at 31 March 2025 Tangible fixed a￿ets 1291.056 1291,462 2.462,133 419.017 (16.004) 1461133 (211133) Current assets Curtent liabilities 631,150 (i&(xM) 615.552 2250.0(KI l291.056 4.156.608 ANALYSIS OF NET AssEfs BY FUIYD- •d md Tot•1 Fund Balantts at 31 March 21)24 *e Tan￿le fixed assets 10.032 l J27.920 1337.952 1444.482 573.338 (15530) 1444.4f2 (194.482) 767.&20 (15.530) Current liabilities 762J22 2250.(X l J27.920 4.340242 FRANCiSCAN SISTERS OF MtLL HILL NOTES TO THE ACCOUNTS (e4Xtl*ved) FOR THE YEAR EI¥DED 31 MARCH 21U5 11. STATEMENT OF FINANCIAL ACTIVITIFS 2024 D**ted Fu*ds G¢•eTrl Rdlrtme4t Prowty Fund Fn#d 2024 Tol•1 2023 Total Income from: DomitiOPL¥ émdlegaeies.. Donati(m4 gifts and legacies STStets' salarie5 ¥nd ￿￿$t0￿S Investmerts Other - Sale of fixed ￿ets 4.010 70.183 61.17T 5289 4.010 ?0.183 61.177 1.085 74.152 61.277 2J43 3,998 Total l#come 140.659 140.659 141855 Exp¢ndtture on: Rablng 16.406 16273 Ch•rltable •tllvlties Siskn, Inaintenan￿ aThl welfare 215J89 61,463 36.932 313.714 279.325 Totsl eAp¢odltss 231.795 61.463 36.932 330.1 295.598 Net lu¢omel(¢xpllditvrt) a•d •et ovewettts fwnds l)¢fore (lossesV8alns o# ibvestmeots (91.136) (61.463) {36.932) (189531) (151743) Realised UDTdiwJ {13J96) 207.048 (13J96) 207.048 (04.588) (73 J47) Net Movement In Fuftds {91.136) 131189 (3&932) 4,121 (2￿.678) {4Q698) (131189) 17{887 Net bwve•¢tst iw *fter trapsfers (137.834) 141.955 4.121 (290.678) Recon¢lll*tioti of funds: l April 2023 £￿.156 £1250.(KX) £1.185.965 fAJ3&121 £4,626.799 Fllnd b•l•llce5 urried forwud #l 31 Marek 21ll4 £762.322 £2250.OL¥J £IJ27.ty20 fAJ40242 £4,336.121 21 FOR THE YEAR EIWED 31 MARCH 2rt5 Co•tr•l P¢r￿MIl Tot*1 Total INCOME SJ.857 SJ24 53.857 SJ24 55.156 6.021 Intere 59.181 59.181 61.177 Donatiotis and gifts 3.475 3.475 93,046 4.010 8&170 5289 JRS Fwlwgh gr8Dts Tot•1 l•tome I55.702 155.702 158.646 EXPENDITURE 17.703 17.703 iQ406 ChAri¢*lAE El￿￿0#•re 185,453 40.742 31493 185.453 40,742 32.493 162271 25.448 22J02 353M6 353.686 304.793 Govern•Aee ofchartty 9204 8.991 Tot•1 ¢xpeudltsr¢ 3618 313.784 1224.891) (224,891) {171.544) IW In¢orf¢xwdit•r¢) fw tht)wr (224J91) 1224.891) (171544) 41257 41257 193.652 Net Movem¢*ts i• F4•d% (l￿ffi34) (183.634) 21108 at l April 2024 4J40242 4340242 431&134 Fund fornrd 31 2•25 4.15&fA18 4,I5W8 4.340242 2260 1055 1055 Lisbi and heat 36.864 &319 36.932 7.509 709 4Q940 Bungalows. ExpeD5CS Bungalows. fjround re V19 4J 41204 94.998 94.772 Provisions Hw*hold aThl firnishin8S loy8 10548 282 10.720 2.183 39.660 38.346 6.437 2,152 1.310 61.463 44.449 3&120 503 1129 1.174 38,120 503 1129 1.174 88248 Medi￿1 Holithys Sist