**The English Province of the Congregation of the Sisters of St Joseph of Annecy Charitable Trust**
## **Annual Report and Accounts**
31 December 2025
Charity Registration Number 232835
## **Contents**
## **Reports**
|Reference and administrative details||
|---|---|
|of the charity, its Trustees, and advisers|1|
|Report of the Trustees|3|
|Independent auditor’s report|25|
|**Accounts**||
|Statement of financial activities|29|
|Balance sheet|30|
|Statement of cash flows|31|
|Principal accounting policies|33|
|Notes to the accounts|39|
The English Province of the Congregation of the Sisters of St Joseph of Annecy Charitable Trust
## **Reference and administrative details of the charity, its Trustees and advisers**
|**Trustees**|Sister Susan Armond|
|---|---|
||Sister Marianne Donnelly|
||Sister Margaret Fox|
||Sister Teresa Kolb|
||Sister Mary Gretta O’Connor|
||Sister Bridget Pritchard|
||(The Trustees are incorporated under the Charities|
||Act 2011)|
|**Provincial Superior (Sister Provincial)**|Sister Susan Armond|
|**Provincial Bursar**|Sister Teresa Kolb|
|**Provincial House**|173 Chepstow Road|
||Newport|
||NP19 8GH|
|**Charity registration number**|232835|
|**Auditor**|Buzzacott Audit LLP|
||130 Wood Street|
||London|
||EC2V 6DL|
|**Bankers**|The Royal Bank of Scotland plc|
||1 Redheughs Avenue|
||Edinburgh|
||EH12 9JN|
|**Investment managers**|UBS Wealth Management (UK) Limited|
||5 Broadgate|
||London|
||EC2M 2AN|
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **1**
## **Reference and administrative details of the charity, its Trustees and advisers**
**Solicitors** Rubin Lewis O'Brien Pendragon House General Rees Square Cwmbran Torfaen NP44 1AJ Stone King LLP Upper Borough Court (UBC) Upper Borough Walls Bath BA1 1RG
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **2**
## **Report of the Trustees** Year to 31 December 2025
The Trustees present their statutory report together with the accounts of The English Province of the Congregation of the Sisters of St Joseph of Annecy Charitable Trust (the charity) for the year ended 31 December 2025.
The accounts have been prepared in accordance with the accounting policies set out on pages 33 to 38 of the attached accounts and comply with the charity’s trust deed, applicable laws and the requirements of the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (Charities SORP FRS 102).
The year ended 31 December 2025 is the final reporting period of the charitable trust, as with effect from midnight on 31 December 2025, the activities, assets and liabilities of the charity were transferred as a going concern to Sisters of St Joseph of Annecy CIO (Charity Registration Number: 1214227) (‘the CIO’).
## **Introduction**
The Sisters of St Joseph of Annecy (the Congregation) is an international Roman Catholic Congregation supporting over 400 finally professed Sisters as well as many Sisters in formation worldwide. It was founded in France in 1650 where its Generalate is located and is divided into a number of distinct Provinces and Regions across the world.
The accounts accompanying this report are the accounts of the charitable trust on which the assets of the Congregation in England, Ireland and Wales are held and through which its finances operate.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **3**
**Report of the Trustees** Year to 31 December 2025
The English Province has houses in various parts of Wales, with one community in Killorglin, County Kerry, Ireland.
## **Mission**
## _**Worship and prayer**_
Members of the Province have opportunities for daily prayer and private worship, and develop their knowledge of, and relationship with God, through prayer, study of the Scriptures and other texts, using all the means which are available. Because online spiritual resources are now more accessible, they are able to participate remotely in retreats, liturgies and other sessions which help to enhance their spiritual development. Similarly, they have been able to interact with others, sharing their expertise as well as offering spiritual help and guidance and to celebrate and pray with the wider community including people of all faiths and none. They do this through the provision of spiritual guidance or by just being available to listen in times of need, through the celebration of the Liturgy and through prayer groups and church services. They visit the sick, housebound and bereaved - helping the latter to prepare for the funerals of their loved ones, and in some cases, conducting the funeral service.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **4**
## **Report of the Trustees** Year to 31 December 2025
## _**Social and pastoral work**_
Many members of the Province are involved in various forms of social or pastoral work, including care of the elderly, family support, acting as governors in local schools, and the conducting of religious services. The Sisters aim to help, in particular, the poor and marginalised in society regardless of their personal background, faith, and gender or individual circumstances.
## **Principal aims and activities**
The charity aims to support the religious and other charitable works carried on by the English Province of the Congregation and its members. When setting the aims of the charity, the Trustees have complied with their duty under section 17 of the Charities Act 2011 to have regard to the Charity Commission’s guidance on public benefit. The Trustees believe that they have demonstrated in detail throughout this report the ways in which the charity has been faithful to this guidance.
The works of the charity fall into the main areas of:
- caring for members of the Congregation;
- education;
- healthcare;
- social and pastoral care;
- the advancement of religion
Each of these is considered in turn below.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **5**
## **Report of the Trustees** Year to 31 December 2025
## _Caring for the members of the Congregation_
In common with many religious congregations in Great Britain, the age profile of the members of the Congregation in this Province is increasing as existing members grow older and no new women seek to join. The age profile of the finally professed Sisters in England, Wales and Ireland is shown graphically below.
**----- Start of picture text -----**
Age Profile at 31 December 2025
30
28
26
24
22
20
18
16
14
12
10
8
6
4
2
0
40+ 50+ 60+ 70+ 80+ 90+
Age
Number of SIsters
**----- End of picture text -----**
The Congregation has a legal and moral obligation to provide care for its members, none of whom has resources of her own, and all of whom have devoted a significant part of their lives to education, nursing, and social and pastoral work with the poorer members of society. As the age profile of the Sisters increases, so does the cost of providing care.
The number of Sisters needing a wide range of care is likely to increase given the age profile. Trustees have considered how best to maintain this provision in a community setting within our financial and personnel limitations. It is anticipated needs can be met for the foreseeable future in one specific convent which has been adapted for this.
_Education_
Although we no longer have Sisters teaching in schools, education remains an integral part of our mission as Sisters of St Joseph with Sisters involved in schools and adult education at many levels. In education, they endeavour to uphold the ethos of the Catholic faith, which aims to provide a sound moral background to inspire and prepare young people for the challenges that lie ahead.
## _Healthcare_
The Sisters’ presence in healthcare has changed over time, with Sisters continuing to practise as nurses but also expanding into complementary therapies.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **6**
## **Report of the Trustees** Year to 31 December 2025
## _Social and pastoral care_
Sisters are engaged in social and pastoral care in their own establishments and in the areas in which their convents are located. These comprise community-based programmes, parish work and family support. Some of the social and pastoral ministries undertaken by individual Sisters include promoting recent Church teaching on care of the earth, visiting the elderly at home and in hospitals, spiritual direction, leading religious services, bereavement support, ecumenism and Christian unity
## _Advancement of religion_
Individual Sisters in their diverse ministries are happy to give witness to their Founder’s charism of unconditional love. This love they share especially with the “poorest and most neglected”, remembering that poverty refers not only to material poverty but also to a wide range of situations that are to be found in society. Thus, the advancement of the Roman Catholic religion permeates all the work undertaken by the members of the Congregation.
## **Achievements and performance**
## _**Caring for members of the Congregation**_
## _Care of our elderly Sisters_
One convent is arranged to support a maximum of 12 Sisters needing care to continue to live their religious life. Additionally, there is accommodation for up to 4 other Sisters who provide a sense of community and pastoral care. Most are permanent community members, but provision can be made for Sisters requiring rehabilitation, convalescence or emergency respite. The best use of space, equipment and financial resources is continually reviewed to reflect the needs of the Sisters.
During 2025 two Sisters have transferred to this community to have their care needs supported appropriately. There have also been three deaths. Each of these Sisters received end of life care at home in the community supported by our own staff and external agencies. Having access to this facility, as well as the good relationships built up with the local health services, means Sisters can live out their lives within the context of their chosen religious congregation.
Staffing levels have been significantly revised this year to reflect the changing needs of the Sisters as well as a need to manage our resources responsibly. We have considered the difficulties in recruiting suitable Registered Nurses and have upskilled our care team appropriately. Consideration has also been given to flexible roles, working patterns and responsibilities. This has been a difficult process as it is important to us to maintain high standards of safe care for both our Sisters and staff. We have now reached a suitable structure, but this will be monitored and amended by the Management Team as needed.
In November 2025 Sisters and staff celebrated National Health Care Support Worker Day taking the opportunity to thank our clinical team for their genuine love and care. One aspect of this was to ask carers to share anonymously what their role means to them; two comments given as examples below. It shows that even in old age and frailty Sisters can reach out to others and enhance their lives.
_Caring for the Sisters is a privilege; hearing about their lives, memories, laughter and prayers makes me whole. A joy in my heart to think I am here now at New Inn._
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **7**
## **Report of the Trustees** Year to 31 December 2025
_…. caring for the Sisters, talking to them about their lives and what they gave. They deserve the best care which gives me pleasure to be able to do it._
The Sisters and Management Team continue to work in collaboration with various agencies to ensure standards of care remain high. The efforts made in the past two years to build and develop good working relationships with different teams within the Aneurin Bevan University Health Board (ABUHB) and Torfaen County Borough Council since our move to a new convent are now showing fruit.
In 2025, four Sisters were resident in St Joseph’s Home in Killorglin, Ireland. It was previously owned by the Sisters of St Joseph of Annecy and now by Nazareth Care. These resident Sisters are supported by a community of four Sisters who live in a property attached to the Home. They support pastorally by daily visits, access to the Chapel and Mass and a care and attentiveness to their needs. One of the Sisters works as a nurse in the Home. Two of the Sisters resident in St Joseph’s died in 2025 at the ages of 100 and 98 respectively, a testimony to the attentiveness and care given by the Sisters in addition to the care they received from the staff.
## _Activities with our elderly Sisters_
A team of three Sisters provide for the pastoral needs of the Sisters in New Inn community by offering prayer services, marking important occasions in the national and religious calendars and offering practical help such as accompaniment to medical appointments.
Retreats are offered in-house to those well enough to participate and are facilitated by Sisters trained in spiritual direction and our own spirituality. This year some Sisters were able to join another congregation in south Wales for their retreat, and it is hoped further collaboration between us will take place in 2026.
In 2025 we held our Provincial and General Chapters. The Sisters in this community prepared the Opening Liturgy for the Provincial Chapter. The Sisters were also able to participate in in Zoom meetings and live streaming of General Chapter preparation meetings. This helps everyone to maintain contact across the Congregation which is particularly beneficial for those who have ministered overseas in their earlier years.
Often it is only at the end of a Sister’s life that we realise the impact she has had on those she has ministered with, often many years before yet clearly cherished by the person. This is reflected in the comments below:
_“I particularly remember Sr. V as a community midwife in St. David’s Maternity Hospital, Cardiff. Working in Ely a very deprived area which suited her personality and talents. The families loved Sister for her clear thinking and problem-solving nature combined with compassion and kindness.” B & M_
_“May Sister V rest in peace, a truly remarkable Sister, and wonderful advocate for those who had little support or help, always able to respond to their needs. Always practical, having no time for unhelpful and unnecessary bureaucracy, had a way of finding solutions to situations that would often seem insurmountable.” M McN_
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **8**
**Report of the Trustees** Year to 31 December 2025
We recognise a growing need among many of our Sisters, not resident in this community, for support to maintain health and independence due to their age and ongoing health issues. One sister, who is a Registered Nurse, has responsibility for assessing and monitoring the needs of those Sisters living in communities around the Province. She meets with all Sisters annually, assists with access to NHS services and funding and supports at significant medical appointments. It is noticeable that our ageing profile is reflected in the frailty of Sisters in every community. In the year ahead we will be considering how to meet the needs of those living outside the community providing care but struggling to remain independent.
## _**Education**_
Although we no longer have Sisters teaching in schools, education remains an integral part of our mission as Sisters of St Joseph of Annecy.
Sisters are involved in schools and adult education at many levels. Some Sisters are governors supporting the headteacher, staff and pupils in their day-to-day work of education. They attend regular meetings and are on various committees. They participate in staff training on issues such as Safeguarding. They also support RE coordinators and assist with school Masses and Assemblies as well as arranging Prayer days for staff. They support and take part in various charitable activities and events organised by the school and parish. They are also available for parents and staff in a pastoral role.
The role of the Sisters on the governing bodies helps to maintain and uphold the religious ethos of the school. An ethos which aims to provide a sound moral background inspiring and preparing young people for the challenges that lie ahead.
Sisters who are in active ministry in parishes participate in catechetical programmes for both children and adults as well as preparation sessions with parents presenting their children for Baptism. Some are involved in the Rite of Christian Initiation of Adults (RCIA) programme for those over the age of eighteen who are interested in learning about the Roman Catholic Faith. Sisters enjoy sharing their faith with people who are searching. They are very much aware that it is becoming ever more vital to prepare young people and adults to answer the many questions posed by our challenging world.
Sacramental preparation for younger children is also an enhancing experience for those who participate. One sister wrote, “For me this is a very important part of my ministry. It is a passing on of the Faith I have received to the children and very often to their parents who may not have been to Church since making their own First Holy Communion.”
Some Sisters are involved in the Rite of Christian Initiation for Children (RCIC) programme for those between the ages of eight and seventeen who wish to be baptised and make their First Holy Communion. During this course they interact with the children’s parents to help them look at why they are requesting this sacrament.
A Sister regularly visits primary schools and churches where she shares her expertise on various subjects such as the history of the school or parish.
All these activities in schools and parishes provide opportunities for children and adults to deepen and grow in their own faith journey.
Sisters themselves are aware that to continue to develop in their mission in the 21[st] Century, they too need a programme of ongoing education and formation. To this end they continue to build on the work already begun particularly with Justice and Peace and the Integrity of
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **9**
**Report of the Trustees** Year to 31 December 2025
Creation as well as the deepening of their own Medaille Spirituality. Sisters continue to update their IT skills to better participate in online formation and education.
Our objective in all our undertakings is to empower and involve people as much as possible and for all of us to work in close collaboration, thus ensuring that the life and spirit of the church is preserved both now and in the future.
## _**Healthcare**_
Our ministry in healthcare has changed in recent years with a reduced nursing presence and a move to other forms of care and healing. One sister ministers in therapeutic massage and ScarWork™. She works in a specialist neurological rehabilitation clinic and in an osteopath clinic. Whenever possible she supports a local Community Interest Company (CIC) by offering taster sessions at their fundraising events. The CIC helps people living with a neurological condition to live a healthy, active life by overcoming barriers to participating in physical exercise and activities.
Her services are much appreciated by both clients and other health professionals:
_“Sr. M……has been a tremendous help in our collaborative approach to holistically treat our patients who have neurological conditions or injuries, including Spinal Cord Injury, Parkinson’s, Stroke, Cerebral Palsy, MS, Brain Injuries, Amputation of a limb. Sr. M is a highly experienced massage therapist at M and the patients at M have been benefitting greatly from her massage to release muscle tension, reduce high tone, relieve tensions in scar tissues from injury or surgery and general relaxation. She has become an integral part of our professional team at M and her service and treatments are highly respected by all.” JB, Clinic Owner_
_“I believe not only has it relieved the physical limitations I would previously have endured but given me far more confidence to get out and about knowing the continuing help it is providing. This has become an essential and truly positive input for me, and is keeping me, mind and body in a far better place.” DC_
_“Since starting the therapy, I’ve noticed significant improvements not only in how the scars look, they are much softer, flatter, and more integrated with the surrounding tissue, but also in how I feel physically. I have better range of movement, much less pain, and I feel more comfortable and confident in my body overall. The changes have made a real difference to my day-to-day life, both physically and emotionally. I do feel extremely lucky to have found Sister M as her scar work has really been life changing over the last 7 months. Overall, this has had a hugely positive impact on both the physical and emotional aspects of dealing with my scars, and I feel very fortunate to have found this supportive therapy delivered in such a responsible and safe way.” GB_
## _**Social and pastoral care**_
The sister in Rhondda Cynon Taff writes. _“Many factors have contributed to making 2025 a challenging year especially when dealing with an ageing population in an area of high unemployment and very limited resources.”_
Throughout the past few years, the concept of Pastoral Care has taken on a wider dimension and is now seen by many as more than a spiritual initiative. With the decline in Church attendance in some areas following the aftermath of Covid-19, people now are focusing more on helping community-based groups. These groups tend to work on a voluntary basis at local and national level offering extensive support to people with different needs. Being a member
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **10**
## **Report of the Trustees** Year to 31 December 2025
of such a network gives one a sense of belonging and value. However, while such good work is highly recommended it has been challenging to ensure that Church attendance remained stable.
Here in Rhondda Cynon Taff our two local parishes have become affiliated with two larger ones nearby. This has enabled our parishes to become more involved with different events and avail of the expertise of a wider range of people. It is hoped that going forward greater teamwork will be encouraged and together we can build on what has already been achieved.
Although the parish community here mostly comprises an elderly congregation, recently there has been interest from younger people requesting to become members of our church. This is very encouraging and is a surety that the seeds already planted are bearing fruit. Over the next few weeks, a survey will take place to ascertain how much engagement has grown in our parishes throughout the year and what needs to be addressed in the future.
The nearby school has availed of the use of the church for various assemblies and events. A Sister visits the school on a regular basis thereby maintaining a good relationship with staff and children alike.
In order to meet the pastoral needs of our parishioners, the sick and the housebound, it has been necessary to increase our Home Visiting Team of voluntary helpers. The uptake has been very encouraging and at present the volunteers are being accompanied so that in time they will be able to carry on this ministry.
Many of our elderly parishioners are now in care homes, hospitals or other care settings. This can be a particularly lonely and anxious time for them and their families. Offering sufficient time listening to and administering Holy Communion is greatly appreciated.
In All Saints Parish in Newport the Sister writes:
_“Each day I can be found visiting in any of our Communities. As we are the largest parish in the Archdiocese we cover a very large area which also includes three hospitals, over 40 residential and nursing homes and many private homes where our sick and housebound live. The largest need I see among the people is loneliness, and in many cases, fear of what will happen to them as they age. When I visit and bring Holy Communion I am often greeted with “You are the first person I have spoken to today.”_ I have many comments over my time of visiting to show me how much my visit means.
KM said to me recently, _“Thank you for making the time to bring me Holy Communion and to have a chat. I always tell my family you have been and they say, “Yes we know you always look happy after Sister’s visit.”_
I met the family of HT and they said _, “Mum loves your visits with Holy Communion. You tell her about the parish, so she does not feel forgotten.”_
_Bereavement support_
The Sisters see their specific ministry as a means of accompanying all parishioners on their journey of life supporting them as much as possible, especially at the time of a family bereavement.
The death of someone we love is a very difficult time for families and friends. It is a time of uncertainty as families struggle with sorting out all the details around arranging a fitting funeral
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **11**
**Report of the Trustees** Year to 31 December 2025
for their loved ones. The Sisters recognise that being present with people at a vulnerable time in their lives and listening to their story is a great privilege and very humbling.
Recently the church in Rhondda Cynon Taff organised their annual Memorial Service for all who lost a member of their family during the year. All who attended were very grateful and found the Service comforting. They also enjoyed meeting other people who shared a similar experience and benefited from sharing memories. Although on-going contact is maintained with people post bereavement, especially those who are most vulnerable, the annual Memorial Service is also seen as helping all concerned to develop a strategy towards some form of closure.
To show what this means to people and how much it is appreciated by them is evident by the beautiful and meaningful comments we received during the year.
A message from L K said: “ _thanks to all who prepared such a beautiful Memorial Service. We found it very comforting and healing.”_
The family of DR wrote recently, _“Many thanks for your visits to Dad at home and in the hospice. He really appreciated you bringing him Holy Communion. When Dad died we felt lost. You phoned and reassured us that you would help us to give Dad the funeral he would want and we would want for him. You did exactly that. Your empathy and calm presence at this very difficult time helped us so much.”_
With the above comments and expressions of gratitude received, Sisters have been reassured that their presence here is deeply appreciated. Their hope is, that together, they aim to assist all who need their help and accompany each other on life’s journey with all its encounters and highlights.
With the above comments and expressions of gratitude received, Sisters have been reassured that their presence here is deeply appreciated. Their hope is, that together, they aim to assist all who need their help and accompany each other on life’s journey with all its encounters and highlights.
## _Care of the Earth_
_“Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has.”_ ( _Margaret Mead)._
We continue to develop our understanding of ecology and its profound implications for the Planet; we try to live sustainably, listening and attempting to respond to the voiceless, especially the Earth. We do this by engaging with those we meet, by sharing in small groups and by collaborating in Parish meetings and Faith groups. We use social media to disseminate PowerPoints and other inspirational materials, raising awareness of the beauty and plight of our planet especially during the Season of Creation.
We actively participate in supporting the International Justice, Peace and the Integrity of Creation Organisation both in the U.K. and globally; we also take an active part in both Caritas and CAFOD, all of which organisations work for social justice.
## _Caritas_
One Sister is co-chair of the archdiocesan Caritas Cardiff-Menevia (CCM) steering group whose vision is to nurture a culture where love of God and love for those in greatest need go hand in hand, and where desire for the Common Good is considered a greater value than
The English Province of the Congregation of the Sisters of St Joseph of Annecy Charitable Trust **12**
**Report of the Trustees** Year to 31 December 2025
individualism. As CCM has no funds of its own, its ability to encourage and enable social outreach throughout the diocese is limited. In 2025, however, a new Strategic Plan has been developed one of whose prime purposes is to support applications for grants to fund the appointment of a Caritas Development Officer. This would increase the scope of the work of Caritas throughout South Wales and Herefordshire.
In the meantime, the Sister works with others to develop resources to help parishioners towards a deeper understanding of Catholic Social Teaching and issues such as Modern Slavery and Human Trafficking and Care for the Environment. Also in development is material to help them to address issues such as Homelessness, Food Poverty and Rural Poverty, and to be prepared for the new format of the Senedd elections in May 2026. For this there will be a special focus on helping young people to reflect on the true values in life, bearing in mind that 16 year-olds will have the vote for the first time.
## _**Advancement of religion**_
The advancement of religion is a priority for all the Sisters of the Province whether or not they are actively involved in ministry. Those who work in parishes participate in catechetical programs with both adults and children:
- the RCIA course catering for people over the age of eighteen who are interested in learning about the Roman Catholic Faith; and
- the RCIC course is designed for children and young people between the ages of eight and seventeen who wish to be baptized and make their First Holy Communion.
All who participate have the opportunity of sharing their faith at a deeper level which can sometimes prove challenging. Some Sisters are also involved with the sacramental preparation of younger children which they too find an enhancing experience for all concerned.
All Sisters are able to share something of their own commitment and lives of prayer through their ordinary relationships and interaction with those with whom they come in contact on a daily basis. Those who are less active still maintain a keen interest in the world in which they are living and pray for the many intentions they hear or read about. They also answer requests for prayers and offer spiritual guidance either directly or through telephone calls, letter writing or electronically. Often parishioners, relatives, former work colleagues or pupils and other members of the public contact communities requesting the prayers of the Sisters, knowing that, as committed religious, the Sisters see it as a privilege to serve their neighbours and support them in their spiritual journey towards God.
One comment reflecting this was:
_“We knew Sr. V very well and corresponded over many years. Her letters were so thoughtful and uplifting…. Her good deeds and kind heart have touched so many”_
_Mark O’Toole, Archbishop of Cardiff-Menevia, has said, “We are grateful for all the Congregation does in our Archdiocese. Their historic service in Schools continues in various apostolates in parish communities and in some of our outreach projects to poorer families and individuals. The less active members continue their essential service of prayer; a vital bedrock which assists us all in being more faithful missionary disciples.”_
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **13**
## **Report of the Trustees** Year to 31 December 2025
Some Sisters are involved in spiritual accompaniment in response to an increase in requests from individuals of all denominations and none, for some type of spiritual accompaniment or direction, as people seek to explore in a deeper way, what can help them live more balanced lives. What was once known as “Spiritual Direction” is now preferably called “Spiritual Accompaniment”. This is because the word “Accompanier" rather than the word "Director” indicates the type of relationship where two individuals, together, explore in a faith context, whatever issue the person being accompanied wishes to bring to the table. The boundaries are such that both people in this type of relationship know that everything said is confidential. (Both understand that the only time when confidentiality has to be lifted would be in a serious safeguarding issue). The main goal of spiritual accompaniment is spiritual growth rather than problem solving.
A few comments shared here indicate how people value this ministry:
_“It’s great to feel heard and supported in a way that I do not experience elsewhere."_
_“The sessions have helped me explore my own spirituality in a deeper way"_
_“Sometimes an open question you ask, offers me a new perspective on a difficult issue"._
## _Archdiocese of Cardiff-Menevia_
One Sister is a member of the Archbishop's Think Tank which works to promote the now united Archdiocese of Cardiff-Menevia. Her role is to be part of the developing prayer enterprise. This year encouragement has been given to mothers to join small groups to pray for their children in an atmosphere of mutual support. A prayer card for the housebound has also been developed and sent out to the parishes.
## _375[th] anniversary_
During 2025 Sisters of St Joseph across the world celebrated the 375[th] anniversary of our founding in France. It was a time to reflect on the past and look ahead to how we can continue to serve in the future. On 15[th] October the Sisters of the English Province gathered for a celebration Mass in one of our local churches. We were joined by friends, colleagues and many others who have benefitted from our services and ministries.
_“It was a beautiful celebratory Mass. I felt very privileged to be there with Sister S and all the Sisters. It was lovely seeing some of the Sisters again after such a long time. The Sisters have played such an important part in my life and been a great influence since first meeting them when my father used to bring me out to the old hospital which became the convent……. they continued to be an important part of my life and became my friends for well over 65 years. Thank you for all the wonderful work you have done, and you truly are very special people. Congratulations and God Bless.” LF_
_“How fantastic to still be a vibrant flame of hope and inspiration for all of us here in Newport. We continue to be in awe of all the wonderful achievements in our schools, parish, community…. We are so glad to have been part of the community which has enriched our lives in so many ways.” MMcN_
## _**Safeguarding**_
Along with all other organisations who serve in the community, the Trustees recognise the absolute necessity of ensuring the protection and safety of all those the charity serves. This means that all employees and Sisters who are in any kind of ministry in Great Britain have to obtain clearance from the Disclosure and Barring Service (DBS). The Trustees are committed
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **14**
## **Report of the Trustees** Year to 31 December 2025
to implementing all policies and procedures of the Catholic Safeguarding Standards Agency (CSSA) and the Religious Life Safeguarding Service (RLSS)
As Religious we are accountable to the Catholic Safeguarding Standards Agency (CSSA) and we are members of the Religious Life Safeguarding Service (RLSS). The Province will be audited by CSSA during 2026.
The Trustees have a dedicated Safeguarding Sub-Committee (SGSC) to lead on Safeguarding matters. The group comprises of the Safeguarding Lead and the Trustee responsible for Safeguarding and two lay people (a retired GP, and a lady trained in counselling, who has worked with Care Inspectorate Wales (CIW) and currently with Cruse Bereavement Support. The SGSC met regularly. Both lay members have undertaken training with RLSS.
All Sisters have attended relevant RLSS courses for their ministries, and thus continue to keep abreast of current thinking, procedure and recommendations. Records of training for each Sister are kept by the Safeguarding Lead.
Two members of the SGSC and the Sister involved in Spiritual Accompaniment attended the two-day RLSS AGM/Conference during the Spring of 2025.
The Safeguarding Lead liaises with the Province Administrative Manager to keep all DBS checks up to date. The Safeguarding Lead reports monthly to the Provincial Council/Trustees and a few times a year links up by Zoom, with her counterpart on the General Council and with those of the other Entities.
As a Province we believe in the importance of Safeguarding and aim at promoting the highest level of care and protection, love, encouragement and respect that we can give to all whom we encounter.
## **Relevant policies**
## _**Donations policy**_
Whilst the Trustees give occasional support to organisations in the United Kingdom whose work is within the objects of the charity, the charity does not regard itself as a grant making entity and applications for grants and donations are not invited.
## _**Fundraising**_
The charity aims to achieve best practice in the way in which it communicates with donors and other supporters. The charity takes care with both the tone of its communications and the accuracy of its data to minimise the pressures on supporters. It applies best practice to protect supporters’ data and never sells or swaps data, and ensures that communication preferences can be changed at any time. The charity manages its own fundraising activities and does not employ the services of professional fundraisers. The charity undertakes to react to and investigate any complaints regarding its fundraising activities and to learn from them and improve its service. During the year, the charity received no complaints about its fundraising activities.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **15**
**Report of the Trustees** Year to 31 December 2025
## _**Protection of children and vulnerable adults**_
Along with all other organisations who serve in the community, the Trustees recognise the absolute necessity of ensuring the protection and safety of all those the charity serves. This means that all employees and Sisters who are in any kind of ministry in Great Britain have to obtain clearance from the Disclosure and Barring Service (DBS). The Trustees are committed to implementing all policies and procedures of the Catholic Safeguarding Standards Agency (CSSA) and the Religious Life Safeguarding Service (RLSS).
## _**Investment policy**_
The Congregation has a discretionary investment management arrangement with UBS Wealth Management (UK) Limited. The target set for the investment managers is to achieve an acceptable return of both income and capital growth with no more than a moderate level of risk.
The ethical investment policy involves a process of making judgements based on Catholic teaching, about the products, services, and corporate practices of companies as well as their financial efficacy. Thus, the Trustees seek to invest in companies whose products, services and corporate practices are considered to promote the sanctity and dignity of human life, and which contribute to the positive advancement of society in general and are not contrary to the Church’s teaching.
The Trustees meet with the investment managers regularly to ensure that the investments are managed in accordance with their written guidelines and with the religious and ethical principles of the Congregation.
## **Future plans**
The year ended 31 December 2025 is the final reporting period of the charitable trust, as with effect from midnight on 31 December 2025, the activities, assets and liabilities of the charity were transferred as a going concern to Sisters of St Joseph of Annecy CIO (Charity Registration Number: 1214227) (‘the CIO’). The future plans for the CIO are as follows:
## _**Province**_
Ongoing plans include:
- Working on outstanding tasks to finalise the transfer from a Charity governed by Trust Deed to a CIO (Charitable Incorporated Organisation);
- Keeping remaining premises under review for their suitability for the sisters as the age profile increases; and
- Co-operating with all safeguarding audits, procedures, and training with CSSA and RLSS.
## _**Generally**_
In addition, we aim to continue to:
- Evaluate our ministries and communities in terms of the reality of our personnel and resources and the needs of those we serve;
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **16**
**Report of the Trustees** Year to 31 December 2025
- Collaborate and co-operate with other agencies to maximise and improve the service we can offer;
- Review of staff and management structure and requirements, role of trustees as line managers and
- Review succession planning for key personnel
## **Financial review**
## _**Results for the year**_
During the year to 31 December 2025 the charity supported an average of 45 Sisters in the United Kingdom and Ireland (2024 – 52 Sisters).
The statement of financial activities shows total income for the year of £1,197,224 (2024 – £2,844,460). The principal components of income in 2025 were donations and legacies which amounted to £886,440 (2024 – £911,235), investment income and interest receivable totalling £272,470 (2024 – £267,616), and income from other sources of £38,314 (2024 – £1,665,609). Included in other income is £10,020 (2024 – £1,612,108) which represents the surplus on disposal of tangible fixed assets. In the year to 31 December 2024, this amount included £1,605,908 relating to proceeds from the sale of the site of the former John Fisher Catholic School in Chatham, which had been held at £nil value in the accounts.
Expenditure in the year amounted to £1,668,712 (2024 – £1,733,737). The costs of supporting the Sisters of the Congregation and their ministry amounted to £1,605,181 (2024 – £1,684,934) whilst donations and grants made by the charity totalled £3,709 (2024 – £3,779).
Excluding the transfer of net assets to Sisters of St Joseph of Annecy CIO (Charity Registration Number: 1214227), the charity had net expenditure for the year of £471,488 (2024 – net income of £1,110,723) before other recognised gains of £1,147,857 (2024 – gains of £564,693).
Other recognised gains include net gains on investments of £1,229,482 (2024 – gains of £569,095), foreign exchange losses on investments of £76,914 (2024 – losses of £6,706), foreign exchange losses on cash held by investment managers of £5,628 (2024 – gains of £4,538), and foreign exchange gains on cash at bank and in hand of £917 (2024 – losses of £2,234).
Excluding the transfer of net assets to Sisters of St Joseph of Annecy CIO (Charity Registration Number: 1214227) the net income and the net increase in funds for the year was therefore £676,369 (2024 – net income and net increase in funds of £1,675,416). After accounting for the transfer of net assets to the CIO amounting to £13,452,824 (2024 - £nil), the net expenditure and net decrease in funds for the year was £12,776,455 (2024 – net income and net increase in funds of £1,675,416).
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **17**
**Report of the Trustees** Year to 31 December 2025
## _**Investment performance**_
Immediately prior to the transfer of net assets to Sisters of St Joseph of Annecy CIO (Charity Registration Number: 1214227), the charity has a portfolio of investments which had a market value at 31 December 2025 of £9,183,198 (2024 – £8,576,574) including cash awaiting investment of £415,986 (2024 – £1,832,360). The portfolio is managed by UBS Wealth Management (UK) Limited. During the year, the charity’s investments achieved an income yield of 3.05% (2024 - 3.08%) and a positive capital yield of 15.85% (2024 – positive capital yield of 9.14%).
The investment managers continued to invest in accordance with the Trustees’ investment policy set out earlier in this report. Further details of the investment portfolio are detailed in note 11 to the attached accounts.
## _**Financial position and reserves policy**_
## _Financial position_
Before the transfer of net assets to Sisters of St Joseph of Annecy CIO (Charity Registration Number: 1214227), the total funds of the charity amounted to £13,452,824 (2024 – £12,776,455).
Of these total funds, £3,736,509 (2024 – £3,766,822) related to the tangible fixed assets fund which represents the net book value of the charity’s tangible fixed assets, excluding those representing the Grace Fowler restricted fund (see below), and has been established in recognition of the fact that the tangible fixed assets are required for the charity’s on-going work.
Before the transfer of net assets to Sisters of St Joseph of Annecy CIO (Charity Registration Number: 1214227), the charity had total restricted funds as detailed in note 14 to the attached accounts of £242,128 (2024 – £230,903). £234,513 (2024 – £223,903) of restricted funds represented the Grace Fowler fund, which comprises the net book value of a freehold property, certain investments and cash at bank, all of which have been set aside to benefit, as directly as possible, the personal needs of the Sisters.
The trustees agreed to increase the retirement reserve to £7million in the year to 31 December 2024 to reflect the actuarial estimates of care costs for all the Sisters of the Province to the end of their lives. The trustees have reviewed the level of the retirement reserve for the year ended 31 December 2025 and believe that it remains appropriate. Where employment of members of the Congregation is for organisations independent of the charity, any earnings are covenanted to the charity. The number of new vocations to the Congregation is declining and, as a result, the average age of the membership is increasing. Younger members, although taking up important charitable work, tend either to work within the charity or are in training or, if working outside, are in low paid jobs. As a consequence, in the future it is anticipated that there will be a general reduction in the income generated by members. The charity has a continuing commitment to support members of the Congregation, many of whom continue to carry out charitable work long past the normal age of retirement.
Free reserves before the transfer of net assets to Sisters of St Joseph of Annecy CIO (Charity Registration Number: 1214227) were £2,474,187 (2024 – £1,778,730).
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **18**
## **Report of the Trustees** Year to 31 December 2025
## _Reserves policy_
The Trustees consider that, given the nature of the charity's work, the level of free reserves should be sufficient to cover approximately a year of on-going expenditure and to provide for contingencies and unevenness in future income. In the light of the charity’s, and subsequently the CIO’s commitment to support the Congregation for the long term, this level of free reserves combined with the retirement reserve is deemed appropriate.
The level of free reverses before the transfer of net assets to Sisters of St Joseph of Annecy CIO (Charity Registration Number: 1214227) equated to approximately 17.79 months’ recurring expenditure which is in line with the reserves policy. The Trustees continue to prepare long term projections and monitor the performance of their investments.
## _**The charity’s assets**_
Acquisitions and disposals of fixed assets during the year are recorded in the notes to the accounts.
## **Governance, structure and management**
## _**Governance**_
In terms of Canon Law, the Superior General and her Council in France govern the Congregation at an international level. They are elected every six years at a General Chapter or meeting of representatives from all provinces and regions of the Congregation. The Sister Provincial and her Council administer the English Province and comprise the Province Leadership Team. The Superior General and her Council appoint the Sister Provincial and her Council, after consultation with the Sisters of the Province. Their mandate is for six years. The current Provincial and Council’s mandate has been extended for a further two years to allow for the embedding of the charity’s transfer to a CIO.
## _**Trustees**_
The charity has six Trustees, one of which is the Sister Provincial. The power of appointing Trustees rests with the Sister Provincial. The Trustees are incorporated under the provisions of the Charities Act 2011. Trustees endeavour to keep up to date with developments affecting charities and attend any appropriate training sessions for Trustees.
The names of the Trustees who served during the financial year ended 31 December 2025 are set out as part of the reference and administrative details on page 1 of this annual report and accounts.
Brief biographical details on each of the Trustees who served during the year to 31 December 2025 are given below:
## _Sister Susan Armond – Provincial_
Sister Susan Armond qualified as a State Registered Nurse in 1970 and then trained as a State Certified Midwife. She nursed at St Joseph’s Hospital, Newport for 24 years, the last 10 years spent as Manager of the Operating Theatre Department. She then spent 10 years as Nurse in charge of the unit for the care of the Sisters of St Joseph at Llantarnam Abbey. Previously she was engaged in the Ministry of Spiritual Direction. She has also served two terms as a Provincial Councillor.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **19**
**Report of the Trustees** Year to 31 December 2025
## _Sister Marianne Donnelly_
Sister is a registered nurse and has specialised in care of older people working in a variety of settings in the NHS, private and voluntary sectors. She is currently line manager to our Clinical Lead and works as a bank nurse in our community where nursing care is provided. She also works in two clinics as a massage and scar therapist.
## _Sister Margaret Fox_
Sister Margaret Fox is a trained Primary School Teacher. She worked in the field of education for thirty-three years, eighteen of them as Head Teacher. Sister has experience of leadership roles within the English Province having worked in formation as director of the junior Sisters for six years and Novice Director for three. She was acting Provincial for six months and is currently in her second term as Assistant Provincial. She was bursar at Llantarnam Abbey for eleven years and is now carrying on the role at Willow House.
## _Sister Teresa Kolb - Provincial Bursar_
Sister Teresa trained as a Primary School Teacher and taught in the London Borough of Merton for 11 years before being appointed Provincial Bursar. She is serving her third term in the post.
## _Sister Mary Gretta O’Connor_
Sister Mary Gretta O’Connor trained as a Primary School Teacher and taught in schools in both Newport and Cardiff for thirty-one years before becoming a member of the pastoral team of a Newport Parish for several years. During this time, she maintained her interest in education in the capacity of a school governor. Previously she had been involved in initial formation in the Province, and as a member of the Provincial Council. She has also been part of the General Leadership team and is at present the Superior of a local community.
## _Sister Bridget Pritchard_
Sister Bridget Pritchard is a qualified High School Teacher having taught in several schools over a 30-year teaching career. This included heading a department in a large comprehensive school. Sister Bridget is a Spiritual Director and Retreat giver.
## _**Trustees’ responsibilities statement**_
The Trustees are responsible for preparing the Trustees’ report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these accounts, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102);
- make judgements and estimates that are reasonable and prudent;
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **20**
**Report of the Trustees** Year to 31 December 2025
- state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the applicable Charity (Accounts and Reports) Regulations and the provisions of the charity’s 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.
## _**Structure and management reporting**_
The Trustees are ultimately responsible for the assets of the charity and their application for charitable purposes. They meet regularly to review developments with regard to the charity and its activities and make any necessary decisions.
When necessary, the Trustees seek advice and support from the charity’s professional advisers, including property consultants, investment managers, solicitors, and accountants. The day-to-day management of the charity’s activities and the implementation of policies are delegated to the appropriate members of the Congregation or senior personnel in its establishments. Management reporting lines are clearly defined, and the Council and the Trustees receive regular reports to enable them to discharge their responsibilities.
As at 31 December 2025, there were 43 finally professed Sisters, including two who are on sabbatical following terms of office on the General Leadership Team in Annecy, four in the community in Killorglin, Ireland and two in St. Joseph’s Home in Killorglin, Ireland.
Most of the Sisters live in one of six houses. Two Sisters live in a parish house working in the parish concerned. Four Sisters live in a rented property in Ireland. In total there are five constituted communities in the Province. Most of the community houses are located in South Wales in those areas of towns and cities where it is believed the Sisters can provide most help. In all constituted communities there is a local superior appointed by the Provincial and her Council. The local superior is responsible both for the needs and the care of the Sisters in her community. She liaises regularly with the Provincial. All Sisters meet together at least twice a year with the Provincial and Council/Trustees at which times there is the opportunity to discuss developments and future plans for the Province.
## _**Key management personnel**_
The Trustees are the key management personnel of the charity in charge of directing and controlling, running, and operating the charity on a day-to-day basis. All the Trustees are members of the Congregation and whilst their living and personal expenses are borne by the charity, they receive no remuneration or reimbursement of expenses in connection with their duties as Trustees.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **21**
## **Report of the Trustees** Year to 31 December 2025
## _**Working with other organisations**_
The charity works closely with a number of other charities and public bodies, which work in the field of providing care for the sick, the vulnerable and elderly. In some cases, Sisters are employed by these organisations, while in other instances the relationships are more informal. Working with other charities and public bodies enhances the care provided and ensures that high standards are maintained. Some examples of organisations with which the charity has co-operated during the year are as follows:
- Roman Catholic Archdiocese of Cardiff-Menevia
- NHS Trusts
- Local Authorities
- Caritas International
- The St. Vincent de Paul Society
## _**Risk management**_
In line with the requirement for Trustees to undertake a risk assessment exercise and report on the same in their annual report, the Trustees have looked at the risks the Congregation and the charity currently face and have reviewed the measures already in place to deal with them.
The Trustees believe the significant risks facing the charity to be:
## _Mission_
A key area of risk for Mission is the ageing profile of the Sisters. Nearly two thirds of the Sisters are 80 and over. There are 7 Sisters under the age of 70. This has implications for the availability of personnel to fill important roles within the mission of the Province, increased health needs (and associated costs) and a need to consider the suitability of the properties owned by the charity. The Trustees are aware of their legal and moral responsibility to care for their members. None of the Sisters has resources of her own as all pensions, salaries and other income have been donated to the charity under a Gift Aid compliant Deed of Covenant.
Key actions to managing this risk are:
- Regular reviews of the changing needs of the Sisters in order to identify and address those needing more support or care;
- Employing qualified staff to fill skills gaps that the Sisters are no longer able to manage;
- Ensuring there are financial resources available to finance this care now and into the future by setting aside designated funds for this purpose;
## _Governance and management_
The Sister Provincial works closely with her team ensuring that responsibility and information regarding the charity is shared. This mitigates the risk of one key person holding all the responsibility and information for the charity. Management of key areas of the charity (care of the elderly Sisters and finance) have been delegated to competent individuals who are accountable to and work closely with the Trustees. In line with the ageing profile, the Trustees are mindful of the need to plan ahead for the future.
The English Province of the Congregation of the Sisters of St Joseph of Annecy Charitable Trust **22**
**Report of the Trustees** Year to 31 December 2025
Key actions to managing this risk are:
- Sharing of information within the team, especially with the Assistant Provincial;
- Ensuring vital information is backed up and these backups retained off site;
- Managing individuals’ workloads to ensure that stress does not become a limiting factor;
- Working towards appointment of lay people in roles currently filled by the Sisters as appropriate;
- Ongoing trustee training; and
- Overseeing the process of transferring the charity to a CIO with greater flexibility in appointing future trustees
## _Operational_
The Trustees are mindful of the risk of the loss of key people in the charity (e.g. managers), of a major IT failure and the effects on the charity of damage to property, theft, and injury to individuals.
Key actions to managing this risk are:
- Succession planning for key roles;
- Consideration of more effective ways of managing security of files and documents;
- Developing a business continuity plan;
- Monitoring of adequate insurance and security measures; and
- Regular review of areas of risk.
## _Safeguarding_
Sisters engaged in any ministry in Great Britain and all those who work or volunteer for the charity and work with children or vulnerable adults (including our elderly Sisters) must obtain clearance from the Disclosure and Barring Service (DBS). The Trustees are committed fully to implementing the policies of the Catholic Safeguarding Standards Agency (CSSA) and the Religious Life Safeguarding Service (RLSS). The Safeguarding Subcommittee ensures policies are adhered to in respect of all Sisters, employees, and volunteers. The Subcommittee liaises closely with the Trustees, ensuring that compliance and best practice are always upheld.
Key actions to managing this risk are:
- Training for staff and Sisters;
- Awareness raising of personal responsibility;
- Ongoing liaison with Catholic and Religious Life safeguarding bodies
- Preparation for the upcoming CSSA safeguarding audit
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **23**
## **Report of the Trustees** Year to 31 December 2025
## _Financial_
The Trustees are aware that the role of Provincial Bursar is key to managing the finances of the charity. They are mindful that there may not be a sister in the future with the skills and training to fill this role. A Finance Committee has been established comprising the Provincial Bursar, Assistant and one other sister with financial experience and competence. This committee is advisory to the Trustees and gives support to the Bursar in her role, both in practical and advisory terms. The Finance Committee reviews the budgets and accounts, making recommendations to the Trustees. It is consulted on major financial matters. The Trustees have also highlighted the risk of cyber fraud in finance.
Key actions to managing this risk are:
- A review of the Finance Committee with a view to expanding its membership outside SSJA membership;
- A review of the financial policies with reference to controls;
- Ongoing involvement of professional advisors;
- Regular meetings with investment managers to be aware of, and in a position to react to market fluctuations; and
- Succession planning for the role of bursar.
## _Investments_
The principal financial assets of the charity are its properties and investment portfolio. The Provincial Bursar oversees the maintenance and management of properties in conjunction with the Maintenance Coordinator and advisors. The investment portfolio is dependent on market fluctuations and so is managed by a competent and reputable firm of investment managers who act in accordance with the Trustees’ investment policy which is reviewed annually. The Trustees meet regularly with the investment managers to review the performance of the portfolio and to ensure that funds are at appropriate levels for the charity’s needs at the present and into the future.
## **Volunteers, employees, and donors**
The Trustees gratefully acknowledge the significant contribution which Sisters, volunteers, and employees make to the charity. They are also heartened by the efforts and donations of various persons and organisations which help the Sisters in their work.
Approved by the Trustees and signed on their behalf by:
Sister Susan Armond
Trustee
Date: 1 July 2026
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **24**
**Independent auditor’s report** Year to 31 December 2025
## **Independent auditor’s report to the Trustees of The English Province of the Congregation of the Sisters of St Joseph of Annecy Charitable Trust**
## **Opinion**
We have audited the accounts of The English Province of the Congregation of the Sisters of St Joseph of Annecy Charitable Trust (the charity) for the year ended 31 December 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accounting policies, and the notes to the accounts. 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 accounts:
- give a true and fair view of the state of the charity’s affairs as at 31 December 2025 and of its income and expenditure 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 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 accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts 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.
## **Emphasis of matter – accounts prepared on a basis other than going concern**
We draw your attention to page 33 to the accounts which explains that the trustees intend that the charity’s operations should cease and that a request be made that the charity should be removed from the Central Register of Charities. Therefore, the trustees do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the accounts. Accordingly, the accounts have been prepared on a basis other than going concern as described on page 33. Our opinion is not modified in respect to this matter.
## **Other information**
The other information comprises the information included in the annual report, including the Trustees’ report, other than the accounts and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **25**
## **Independent auditor’s report** Year to 31 December 2025
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the accounts themselves. 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.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Trustees’ report is inconsistent in any material respect with the accounts; or
- sufficient accounting records have not been kept; or
- the accounts are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of Trustees**
As explained more fully in the Trustees’ responsibilities statement set out on page 20, the Trustees are responsible for the preparation of the accounts 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 accounts that are free from material misstatement, whether due to fraud or error.
In preparing the accounts, 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 accounts**
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.
Our objectives are to obtain reasonable assurance about whether the accounts 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.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **26**
## **Independent auditor’s report** Year to 31 December 2025
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 accounts.
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:
## _**How the audit was considered capable of detecting irregularities including fraud**_
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- We identified the laws and regulations applicable to the charity through discussions with the Trustees and from our knowledge and experience of the charity sector;
- We focused on specific laws and regulations which we considered may have a direct material effect on the accounts or the activities of the charity. These included but were not limited to the Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102); and
- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of those charged with governance and review of minutes of Trustees’ meetings.
We assessed the susceptibility of the charity’s accounts to material misstatement, including obtaining an understanding of how fraud might occur, by:
- Making enquiries of those charged with governance as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- Performed analytical procedures to identify any unusual or unexpected relationships;
- Tested and reviewed journal entries to identify unusual transactions;
- Tested the authorisation of expenditure as part of our substantive testing on expenditure generally;
- Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **27**
## **Independent auditor’s report** Year to 31 December 2025
- Investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- Agreeing accounts disclosures to underlying supporting documentation;
- Reviewing the minutes of meetings of Trustees; and
- Enquiring of as to actual and potential litigation and claims.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the accounts 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 Part 4 of the Charities (Accounts and Reports) Regulations 2008. 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 and the charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Buzzacott Audit LLP Statutory Auditor 130 Wood Street London EC2V 6DL
Date: 6 July 2026
Buzzacott Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **28**
## **Statement of financial activities** Year to 31 December 2025
|Notes|**Unrestricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**Total**
**funds**
**2025**
**£**|Unrestricted
funds
£|Restricted
funds
£|Total
funds
2024
£|
|---|---|---|---|---|---|---|
|**Income from:**
Donations and legacies
1
Investments and interest receivable
2
Other sources
3
. Surplus on disposal of tangible fixed assets
. Miscellaneous income
**Total income**
**Expenditure on:**
Raising funds
. Investment management fees
Charitable activities
. Support of members of the
Congregation and their ministry
4
. Grants, donations, and support of
missionary work
5
Transfer to Sisters of St Joseph of Annecy
CIO (Charity Registration Number: 1214227)
(note 21)
**Total expenditure**
**Net (expenditure) income before net**
**investment gains**
7
**Other recognised gains**
Net gains on revaluation and disposal of
investments
Foreign exchange losses on investments
Foreign exchange (losses) gains on cash
held by investment managers
Foreign exchange gains (losses) on cash at
bank and in hand
11
**Net (expenditure) income**
Transfers between funds
14,16
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
at 1 January 2025
**Total funds carried forward**
**at 31 December 2025**|**885,825**
**268,304**
**10,020**
**28,294**|**615**
**4,166**
**—**
**—**|**886,440**
**272,470**
**10,020**
**28,294**|911,235
264,004
1,612,108
51,462|—
3,612
—
2,039|911,235
267,616
1,612,108
53,501|
||**1,192,443**|**4,781**|**1,197,224**|2,838,809|5,651|2,844,460|
||**59,650**
**1,597,988**
**3,709**|**172**
**7,193**
**—**|**59,822**
**1,605,181**
**3,709**|44,751
1,678,631
3,779|273
6,303
—|45,024
1,684,934
3,779|
||**1,661,347**
**13,210,696**|**7,365**
**242,128**|**1,668,712**
**13,452,824**|1,727,161
—|6,576
—|1,733,737
—|
||**14,872,043**|**249,493**|**15,121,536**|1,727,161|6,576|1,733,737|
||**(13,679,600)**|**(244,712)**|**(13,924,312)**|1,111,648|(925)|1,110,723|
||**1,216,993**
**(76,914)**
**(5,628)**
**917**|**12,489**
**—**
**—**
**—**|**1,229,482**
**(76,914)**
**(5,628)**
**917**|564,085
(6,706)
4,538
(2,234)|5,010
—
—
—|569,095
(6,706)
4,538
(2,234)|
||**1,135,368**|**12,489**|**1,147,857**|559,683|5,010|564,693|
||**(12,544,232)**
**(1,320)**|**(232,223)**
**1,320**|**(12,776,455)**
**—**|1,671,331
(219,818)|4,085
219,818|1,675,416
—|
||**(12,545,552)**
**12,545,552**|**(230,903)**
**230,903**|**(12,776,455)**
**12,776,455**|1,451,513
11,094,039|223,903
7,000|1,675,416
11,101,039|
||**—**|**—**|**—**|12,545,552|230,903|12,776,455|
All of the above activities of the charity derived from continuing operations during the above two financial years. However, with effect from midnight on 31 December 2025, the assets, liabilities and activities of the charity were transferred to Sisters of St Joseph of Annecy CIO (Charity Registration Number: 1214227) and the charity became dormant with effect from that date (see note 21).
The statement of financial activities includes all gains and losses recognised in the year.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **29**
## **Balance sheet** 31 December 2025
|
Notes|**2025**
**£**|**2025**
**£**|2024
£|2024
£|
|---|---|---|---|---|
|**Fixed assets**
Tangible assets
10
Investments
11
**Current assets**
Debtors
12
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due
within one year
13
**Net current assets**
**Total net assets**
**The funds of the charity:**
Restricted funds
14
Unrestricted funds
. Tangible fixed assets fund
15
. Designated funds
16
. General funds|**—**
**—**|**—**
**—**|260,784
298,265|3,894,730
8,576,574|
|||**—**
**—**||12,471,304
305,151|
||**—**
**—**||559,049
(253,898)||
||||||
|||**—**||12,776,455|
|||**—**
**—**
**—**
**—**||230,903
3,766,822
7,000,000
1,778,730|
|||**—**||12,776,455|
With effect from midnight on 31 December 2025, the assets, liabilities and activities of the charity were transferred to Sisters of St Joseph of Annecy CIO (Charity Registration Number: 1214227) and the charity became dormant with effect from that date (see note 21).
Approved by the Trustees and signed on their behalf by:
Sister Susan Armond
Date of approval: 1 July 2026
Charity number: 232835
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **30**
## **Statement of cash flows** Year to 31 December 2025
**----- Start of picture text -----**
2025 2024
Notes £ £
Cash flows from operating activities:
Net cash used in operating activities A (711,248) (702,266)
Cash flows from investing activities:
Investment income and interest received 227,347 241,053
Proceeds from the disposal of tangible fixed assets 10,020 1,612,108
Purchase of tangible fixed assets (71,533) (97,472)
Proceeds from the disposal of listed investments 1,724,861 1,657,052
Purchase of listed investments (2,595,191) (2,134,127)
Net cash (used in) provided by investing activities (704,496) 1,278,614
Change in cash and cash equivalents in the year (1,415,744) 576,348
Cash and cash equivalents transferred to Sisters of St Joseph
of Annecy CIO (Charity Registration Number: 1214227) (719,492) —
Cash and cash equivalents at 1 January 2025 B 2,130,525 1,556,481
Change in cash and cash equivalents due to exchange rate
movements 4,711 (2,304)
Cash and cash equivalents at 31 December 2025 B — 2,130,525
Notes to the statement of cash flows for the year to 31 December 2025.
A Reconciliation of net movement in funds to net cash used in operating activities
2025 2024
£ £
Net movement in funds (as per the statement of financial activities) (12,776,455) 1,675,416
Adjustments for:
Depreciation charge 101,846 97,037
Transfer to the Sisters of St Joseph of Annecy CIO (Charity Registration
Number: 1214227) 13,452,824 —
Gains on listed investments (1,229,482) (569,095)
Exchange rate movements
. On investments 76,914 6,706
. On cash held by investment managers (5,628) 4,538
. On cash at bank and in hand 917 (2,234)
Investment income and interest receivable (272,470) (267,616)
Surplus on disposal of tangible fixed assets (10,020) (1,612,108)
(Increase) decrease in debtors (10,965) 22,159
Decrease in creditors (38,729) (57,069)
Net cash used in operating activities (711,248) (702,266)
**----- End of picture text -----**
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **31**
**Statement of cash flows** Year to 31 December 2025
## **B Analysis of cash and cash equivalents and changes in net debt**
||At 1
January
2025
£|Cash flows
£|Foreign
exchange
movements
£|Transfer to
CIO
£|**At 31**
**December**
**2025**
**£**|
|---|---|---|---|---|---|
|**Cash and cash equivalents**
Cash at bank and in hand
Cash held by investment managers
**Net debt**
Loan due to the Generalate of the
Sisters of St Joseph of Annecy
Loans advanced|298,265
1,832,260|4,324
(1,410,646)|917
(5,628)|(303,506)
(415,986)|**—**
**—**|
||2,130,525
112,000
(113,200)
2,129,325|(1,406,322)
—
—
(1,406,322)|(4,711)
—
—
(4,711)|(719,492)
(112,000)
113,200
(718,292)|**—**
**—**
**—**
**—**|
The English Province of the Congregation of the Sisters of St Joseph of Annecy Charitable Trust **32**
**Principal accounting policies** Year to 31 December 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**
These accounts have been prepared for the year to 31 December 2025 with comparative figures given for the year to 31 December 2024.
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.
The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
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:
- the useful economic lives attributed to tangible fixed assets used to determine the annual depreciation charge;
- assessing the probability of the receipt of legacy income and estimating the amount to be received; and
- the assumptions adopted by the Trustees in determining the value of any designations required from the charity’s general unrestricted funds.
## **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 of at least one year from the date of approval of these accounts.
With effect from midnight on 31 December 2025, the assets, liabilities and activities of the charity were transferred to Sisters of St Joseph of Annecy CIO (Charity Registration Number: 1214227) and the charity became dormant with effect from that date (see note 21). The Charitable Trust no longer carries out any activities. It is anticipated that, after a short period of dormancy, an application will be made requesting that the Charity Commission remove the Charitable Trust from the Central Register of Charities.
Therefore, the trustees do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the accounts. Accordingly, the accounts have been prepared on a basis other than going concern.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **33**
**Principal accounting policies** Year to 31 December 2025
## **Income recognition**
Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably, and it is probable that the income will be received.
Income comprises donations and legacies, investment income, interest receivable, retreat and conference centre income, contribution towards the care of elderly Sisters, the surplus on the disposal of tangible fixed assets, funding from the Coronavirus Job Retention Scheme and miscellaneous income.
Donations, including salaries and pensions of individual religious received under Gift Aid or deed of covenant, are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity, and it is probable that those conditions will be fulfilled in the reporting period.
In accordance with the Charities SORP FRS 102 volunteer time is not recognised.
Legacies are included in the statement of financial activities when the charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charity.
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 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, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. In the event that the gift is in the form of an asset other than cash, or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title of the asset having been transferred to the charity.
Investment income is recognised once the dividend or similar distribution has been declared and notification has been received of the amount 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.
The surplus on the disposal of tangible fixed assets is calculated as the difference between the sale proceeds net of sale costs and the net book value of the asset immediately prior to disposal. It is accounted for once legal completion of the disposal has taken place.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **34**
## **Principal accounting policies** Year to 31 December 2025
All other income is recognised to the extent that it is probable that the economic benefits will flow to the charity and the revenue can be measured reliably. It is measured at fair value and accounted for on an accruals basis.
## **Expenditure recognition**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses are allocated or to the applicable expenditure headings. The majority of expenditure is directly attributable and any apportionment between headings is negligible.
Expenditure on charitable activities includes all costs associated with furthering the charitable purposes of the charity through the provision of its charitable activities and includes:
- Expenditure on the support of members of the Congregation and their ministry. Such expenditure enables the members to carry out the work of the charity in the areas of the advancement of the Roman Catholic faith, the advancement of education, the provision of healthcare and the provision of social and pastoral work.
- The provision for any impairment in respect to the charity’s tangible fixed assets.
- The provision of grants and donations relating, in the main, to the support of the Congregation’s own work and the support of other Roman Catholic charitable organisations. Charitable grants and donations are made where the Trustees believe there is a 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 any grants and donations approved but unpaid at the end of the financial year.
All expenditure is stated inclusive of irrecoverable VAT.
## **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.
Governance costs are the costs associated with the governance arrangements of the charity including audit costs and the necessary legal procedures for compliance with statutory requirements.
All expenditure on support and governance is attributed directly to the charitable activities of supporting members of the Congregation and their ministry and hence there has been no
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **35**
## **Principal accounting policies** Year to 31 December 2025
apportionment between headings. Any support and/or governance costs in relation to other categories of expenditure is considered to be negligible.
## **Foreign currencies**
Assets and liabilities are translated 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.
## **Tangible fixed assets**
All assets costing more than £1,000 and with an expected useful life exceeding one year are capitalised.
- Freehold land and buildings
- During the year the Trustees were the legal owners of land used exclusively by a school founded by the Congregation, but which is now under separate control and publicly funded. Such assets were regarded as having a nil value for the purposes of these accounts since they could not be disposed of in the open market or put to alternative use while such occupation continued.
Freehold land and buildings purchased on or prior to 1 July 1997 are included in the accounts at a valuation determined by the Trustees as at that date with professional assistance, based on replacement cost for existing use. As permitted by FRS 102, with effect from 1 July 2014 the value assigned to this property is now deemed its cost. Land and buildings purchased on or after 1 April 2008 are shown on the balance sheet at cost. Freehold land and buildings comprise:
- a. Non-specialised buildings i.e. those designed as, and used wholly or mainly for, private residential accommodation. Such land and buildings are not depreciated. Their value and condition are reviewed annually by the Trustees, to confirm that their residual value is not materially less than their book value. Where this is not deemed to be the case, an impairment provision is made (see below).
- b. Specialised buildings comprise large residential convents and more bespoke properties. Depreciation is provided at 2% per annum on a straight-line basis once the building is occupied to write off the buildings over their estimated useful economic life to the Congregation.
- Motor vehicles, computers, and furniture and equipment Motor vehicles, computers, and furniture and equipment are included at cost. Depreciation is provided on a straight-line basis on assets held at the end of the year at the following annual rates in order to write off each asset over its estimated useful life:
Motor vehicles 20%
Plant, computers, furniture, and equipment 15% to 33[1] ∕3%
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **36**
## **Principal accounting policies** Year to 31 December 2025
An impairment review in respect to a particular class of assets is carried out if events, or changes in circumstances, indicate that the carrying amount of any tangible fixed asset may not be recoverable.
## **Investments**
Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.
The charity does not acquire put options, derivatives, or other complex financial instruments.
As noted above the main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.
Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value is acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.
## **Debtors**
Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.
## **Short term investments**
Cash held by investment managers for anticipated application to specific projects within the twelve months is classified as a short-term investment.
## **Cash at bank and in hand**
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than 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 when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **37**
**Principal accounting policies** Year to 31 December 2025
## **Funds structure**
General funds represent those monies which are freely available for application towards achieving any charitable purpose that falls within the charity’s charitable objects.
The tangible fixed assets fund represents the net book value of the charity’s tangible fixed assets excluding those held as part of the Grace Fowler fund.
Designated funds comprise monies set aside out of unrestricted general funds for specific future purposes or projects. Details of these are provided in note 16.
Restricted funds comprise monies raised for, or their use restricted to, a specific purpose, or contributions subject to donor-imposed conditions. Details of these are provided in note 14.
## **Services provided by members of the Congregation**
For the purposes of these accounts, no monetary value has been placed on care, administrative and other services provided by members of the Congregation.
## **Employee pension costs**
The charity offers its employees membership of a defined contribution pension scheme administered by The NOW: Pensions Trust, which is a registered occupational pension scheme (plan) governed by the Trust Deed and Rules dated 29 November 2011 by which the plan was established. Contributions to the plan are debited to the statement of financial activities in the year in which they are payable to the plan. The assets of the plan are held by an independent corporate trustee, whose activities are governed by The Pensions Act 2008 and the regulations made under it. This includes and is not limited to The Occupational and Personal Pension Schemes Regulations 2010.
## **Pension costs for member of the community**
The charity contributes to a defined contribution pension scheme administered by the charity to provide benefits in respect to individual members of the community. This policy is held with Standard Life.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **38**
**Notes to the accounts** Year to 31 December 2025
## **1 Income from: Donations and legacies**
**----- Start of picture text -----**
Restricted Total
Unrestricted Unrestricted Restricted Total
funds fund 2025 funds funds 2024
£ £ £ £ £ £
Covenanted salaries and
pensions 874,257 — 874,257 890,400 — 890,400
Legacies — — — 17,165 — 17,165
Other grants and
donations 11,568 615 12,183 3,670 — 3,670
885,825 615 886,440 911,235 — 911,235
2 Income from: Investments and interest receivable
Restricted Total
Unrestricted Unrestricted Restricted Total
funds fund 2025 funds funds 2024
£ £ £ £ £ £
Income from listed
investments
. Equities 172,150 2,532 174,682 146,076 3,582 149,658
. Corporate bonds 27,755 — 27,755 20,651 — 20,651
. Other 47,059 — 47,059 21,209 — 21,209
246,964 2,532 249,496 187,936 3,582 191,518
Interest receivable
. Cash held by investment
managers 19,644 816 20,460 71,590 30 71,620
. Bank interest 1,696 818 2,514 4,478 — 4,478
21,340 1,634 22,974 76,068 30 76,098
268,304 4,166 272,470 264,004 3,612 267,616
3 Income from: Other sources
Restricted Total
Unrestricted Unrestricted Restricted Total
funds fund 2025 funds funds 2024
£ £ £ £ £ £
Surplus on disposal of
tangible fixed assets
. Land and buildings — — — 1,605,908 — 1,605,908
. Motor vehicles 10,020 — 10,020 6,200 — 6,200
Miscellaneous income 28,294 — 28,294 51,462 2,039 53,501
38,314 — 38,314 1,663,570 2,039 1,665,609
**----- End of picture text -----**
Included within the surplus on the disposal of tangible fixed assets in the year to 31 December 2024 is a surplus of £1,605,908 relating to the disposal of land (which was a former school site).
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **39**
**Notes to the accounts** Year to 31 December 2025
## **4 Expenditure on: Support of members of the Congregation and their ministry**
**----- Start of picture text -----**
Restricted Total
Unrestricted Unrestricted Restricted Total
funds fund 2025 funds funds 2024
£ £ £ £ £ £
Staff costs (note 8) 858,540 — 858,540 829,441 — 829,441
Premises 280,079 6,949 287,028 378,170 6,028 384,198
Sisters’ living and personal
expenses 347,226 244 347,470 396,269 7 396,276
Sisters’ training, education,
and retreat 9,704 — 9,704 14,508 — 14,508
Other expenses 34,163 — 34,163 18,727 78 18,805
Support costs
. Postage, stationery, and
telephone — — — 3,482 190 3,672
. Other professional fees 38,236 — 38,236 13,534 — 13,534
. Governance costs (note
6) 30,040 — 30,040 24,500 — 24,500
1,597,988 7,193 1,605,181 1,678,631 6,303 1,684,934
**----- End of picture text -----**
## **5 Expenditure on: Grants, donations, and support of missionary works**
The charity makes grants and donations, principally in support of the overseas work of The English Province of the Congregation of the Sisters of St Joseph of Annecy Charitable Trust and those causes which further the Roman Catholic faith.
The grants and donations payable during the year were as follows:
**----- Start of picture text -----**
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds 2025 funds funds 2024
£ £ £ £ £ £
Donations to organisations
. Grants to the Generalate of the
Sisters of St Joseph of Annecy to
support the Congregation’s —
overseas work 600 600 600 — 600
—
. Other grants to the overseas
missions the Sisters of St Joseph of
Annecy 430 430 240 — 240
. Other donations 2,679 — 2,679 2,939 — 2,939
3,709 — 3,709 3,779 — 3,779
**----- End of picture text -----**
No donations were made to individuals during the year to 31 December 2025 (2024 – none).
## **6 Governance costs**
||Unrestricted funds|Unrestricted funds|
|---|---|---|
||**Total**
**2025**
**£**|Total
2024
£|
|Professional fees|**30,040**|24,500|
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **40**
**Notes to the accounts** Year to 31 December 2025
## **7 Net expenditure for the year before net investment gains (losses)** This is stated after charging:
**----- Start of picture text -----**
Total Total
2025 2024
£ £
Staff costs (note 8) 858,540 829,441
Auditor’s remuneration – statutory audit services 25,920 24,720
Depreciation (note 10) 101,846 97,037
8 Staff costs
2025 2024
£ £
Staff costs during the year were as follows:
Wages and salaries 748,203 735,791
Social security costs 68,191 51,084
Other pension costs 28,819 27,976
845,213 814,851
Other staff related costs 13,327 14,590
858,540 829,441
**----- End of picture text -----**
All staff costs are in respect of employees who support the members of the Congregation and their ministry. The average number of employees was 40 (2024 - 42).
There were no employees who earned over £60,000 per annum or more (including taxable benefits but excluding employer pension contributions) during the year (2024 - none).
As noted in the Trustees’ report, the Trustees consider they comprise the key management personnel of the charity in charge of directing and controlling, running, and operating the charity on a day-to-day basis.
All the Trustees are members of the Congregation and whilst their living and personal expenses are borne by the charity, they receive no remuneration or reimbursement of expenses in connection with their duties as Trustees (2024 – £nil).
## **9 Taxation**
The English Province of the Congregation of the Sisters of St Joseph of Annecy Charitable Trust is a registered charity and, therefore, 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.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **41**
**Notes to the accounts** Year to 31 December 2025
## **10 Tangible fixed assets**
||Land and buildings|Land and buildings|Computers,
furniture, and
equipment
£|Motor
vehicles
£|**Total**
**£**|
|---|---|---|---|---|---|
||Specialised
£|Non-
specialised
£||||
|**Cost or valuation**
At 1 January 2025
Additions
Disposals
Transfer of net assets to CIO (note 21)
At 31 December 2025
**Depreciation**
At 1 January 2025
Charge for year
On disposals
Transfer of net assets to CIO (note 21)
At 31 December 2025
**Net book values**
At 31 December 2025
At 31 December 2024|4,377,579
—
—
(4,377,579)|559,763
—
—
(559,763)|25,342
—
—
(25,342)|241,942
71,533
(44,845)
(268,630)|**5,204,626**
**71,533**
**(44,845)**
**(5,231,314)**|
||—|—|—|—|**—**|
||1,049,796
87,552
—
(1,137,348)|—
—
—
—|24,714
628
—
(25,342)|235,386
13,666
(44,845)
(204,207)|**1,309,896**
**101,846**
**(44,845)**
**(1,366,897)**|
||—|—|—|—|**—**|
||—
3,327,783|—
559,763|—
628|—
6,556|**—**
**3,894,730**|
## **11 Investments**
**----- Start of picture text -----**
2025 2024
£ £
Listed investments at market value
At 1 January 2025 6,744,314 5,704,850
Additions at cost 2,595,191 2,134,127
Disposals at book value (see below) (1,642,547) (1,576,749)
Exchange losses (76,914) (6,706)
Unrealised investment gains 1,147,168 488,792
At 31 December 2025 8,767,212 6,744,314
Cash held by investment managers for reinvestment 415,986 1,832,260
9,183,198 8,576,574
Transfer of net assets to CIO (note 21) (9,183,198) —
— 8,576,574
Cost of listed investments — 5,827,844
**----- End of picture text -----**
Immediately prior to the transfer of net assets to the CIO (note 21), listed investments held at 31 December 2025 comprised the following:
||**2025**
**£**|2024
£|
|---|---|---|
|UK Equities
Overseas Equities
UK Corporate bonds
Alternatives|**4,200,587**
**2,836,792**
**1,130,740**
**599,093**
**8,767,212**|3,153,679
2,338,503
793,844
458,288
6,744,314|
All listed investments were dealt in on a recognised stock exchange.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **42**
## **Notes to the accounts** Year to 31 December 2025
Disposals at book value included above are made up of the following:
||**2025**
**£**|2024
£|
|---|---|---|
|Proceeds
Realised (gains) losses
Disposals at book value|**1,724,861**
**(82,314)**
**1,642,547**|1,657,052
(80,303)
1,576,749|
Immediately prior to the transfer of net assets to the CIO (note 21), listed investments included the following individual holdings deemed material when compared with the overall portfolio valuation as at that date:
|**12**||**Market**
**value of**
**holding**
**£**|**Percentage**
**of**
**Portfolio**
**%**|
|---|---|---|---|
||Charities Property Fund Income Units (GBP)
UBS Emerging Markets Socially Responsible (USD)|**445,189**
**485,288**|**5.08**
**5.54**|
||**Debtors**|**2025**
**£**|2024
£|
||Investment income receivable
Prepayments and accrued income
Loan to a former member of the Congregation (see below)
Transfer of net assets to CIO (note 21)|**169,736**
**33,936**
**113,200**|124,613
22,971
113,200|
|||**316,872**
**(316,872)**
**—**|260,784
—
260,784|
During the year to 31 December 2020, the Congregation's Generalate advanced a loan of £112,000 to the charity to enable it to finance a loan to a former member of the English Province during the year to 31 December 2021 (see note 13). In the year to 31 December 2021, the loan was advanced to the former member towards the purchase of a property over which the charity has secured a legal charge. The loan was increased during 2022 to cover professional fees paid. The loan advanced by the charity to the former member is repayable on the death of the former member or earlier should she dispose of the property and is interest free.
The monies advanced to the charity by the Generalate are repayable only on repayment of the loan from the former member to the charity. There are no other specific repayment terms attached to this loan from the Generalate which is interest free.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **43**
**Notes to the accounts** Year to 31 December 2025
## **13 Creditors: amounts falling due within one year**
**----- Start of picture text -----**
2025 2024
£ £
Other taxes and social security costs 17,384 16,290
Amounts held on behalf of individual members of the Congregation 29,426 29,426
Other creditors and accruals 56,359 96,182
Loan due to the Generalate of the Sisters of St Joseph of Annecy (see
note 12) 112,000 112,000
215,169 253,898
Transfer of net assets to CIO (note 21) (215,169) —
— 253,898
**----- End of picture text -----**
## **14 Restricted funds**
The funds of the charity include restricted funds comprising the following amounts to be applied for specific purposes:
|Pilgrimage fund
Grace Fowler fund|**At**
**1 January**
**2025**
**£**||**Income**
**and gains**
**£**|**Expenditure**
**£**|**Expenditure**
**£**|**Transfers**
**£**
**—**
**1,320**
**1,320**
_Expenditure_
_£_|**Transfer of**
**net assets**
**to CIO**
**(note 21)**|**At 31**
**December**
**2025**
**£**
**—**
**—**
**—**
_At 31_
_December_
_2024_
_£_
_7,000_
_223,903_
_230,903_|
|---|---|---|---|---|---|---|---|---|
||**7,000**
**223,903**
**230,903**||**615**
**16,655**
**17,270**
_At_
_1 January_
_2024_
_£_||**—**
**(7,365)**
**(7,365)**
_Income and_
_gains_
_£_||**(7,615)**
**(234,513)**
**(242,128)**
_Transfers_
_£_
_—_
_219,818_
_219,818_||
|_Pilgrimage fund_
_Grace Fowler fund_|||_7,000_
_—_
_7,000_||_—_
_10,661_
_10,661_|_—_
_(6,576)_
_(6,576)_|||
The **pilgrimage fund** comprises monies received from a sister’s family legacy to be used for her to take a trip to the Holy Land.
The **Grace Fowler fund** represents the net book value of a freehold property, certain investments, and cash at bank, all of which have been set aside to benefit, as directly as possible, the personal needs of the Sisters. Following legal clarification regarding the purposes of the fund, the fund has now been classified as restricted rather than designated.
## **15 Tangible fixed assets fund**
|**Tangible fixed assets fund**|||
|---|---|---|
||**2025**
**£**
**3,766,822**
**(30,313)**
**3,736,509**
**(3,736,509)**
**—**|2024
£|
|At 1 January 2025
Net movement in year
Transfer of net assets to CIO (note 21)
At 31 December 2025||3,863,859
(97,037)|
|||3,766,822
—
3,766,822|
The tangible fixed assets fund represents the net book value of the charity’s tangible fixed assets, excluding those representing the Grace Fowler designated fund, and has been established in recognition of the fact that the tangible fixed assets are required for the charity’s on-going work.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **44**
**Notes to the accounts** Year to 31 December 2025
## **16 Designated funds**
The income funds of the charity include the following designated funds, which have been set aside out of unrestricted funds by the Trustees for specific purposes:
||**At**
**1 January**
**2025**
**£**||**Net**
**movement**
**in the year**
**£**||**Transfers**
**£**|**Transfer of**
**net assets to**
**CIO (note 21)**
**£**|**Transfer of**
**net assets to**
**CIO (note 21)**
**£**|**At 31**
**December**
**2025**
**£**|
|---|---|---|---|---|---|---|---|---|
|Retirement reserve|**7,000,000**
**7,000,000**||**—**
**—**
_At_
_1 January_
_2024_
_£_||||**(7,000,000)**
**(7,000,000)**
_Transfers_
_£_|**—**
**—**
_At 31_
_December_
_2024_
_£_
_—_
_7,000,000_
_7,000,000_|
|_Grace Fowler fund_
_Retirement reserve_|||_219,818_
_5,950,000_
_6,169,818_||_—_
_1,050,000_
_1,050,000_||_(219,818)_
_—_
_(219,818)_||
The **Grace Fowler fund** represented the net book value of a freehold property, certain investments, and cash at bank, all of which have been set aside to benefit, as directly as possible, the personal needs of the Sisters. Following legal clarification regarding the purposes of the fund, the fund was classified as restricted rather than designated in the year to 31 December 2024.
The **retirement reserve** represents monies designated by the Trustees to provide for the Sisters in their retirement. It is calculated on actuarial principles and is reviewed annually by the Trustees in the light of the resources available.
## **17 Analysis of net assets between funds**
Fund balances at 31 December 2025 immediately prior to the transfer to the CIO were represented by:
||**General**
**funds**
**£**|**Tangible**
**fixed assets**
**fund**
**£**|**Designated**
**funds**
**£**|**Restricted**
**funds**
**£**|**Total**
**2025**
**£**|
|---|---|---|---|---|---|
|**Fund balances at**
**31 December 2025**
**are represented by:**
Tangible fixed assets
Fixed asset investments
Net current assets
**Total net assets**|**—**
**2,077,723**
**396,464**
**2,474,187**|**3,736,509**
**—**
**—**
**3,736,509**|**—**
**7,000,000**
**—**
**7,000,000**|**127,908**
**105,475**
**8,745**
**242,128**|**3,864,417**
**9,183,198**
**405,209**
**13,452,824**|
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **45**
## **Notes to the accounts** Year to 31 December 2025
||_General_
_funds_
_£_|_Tangible_
_fixed assets_
_fund_
_£_|_Designated_
_funds_
_£_|_Restricted_
_funds_
_£_|_Total_
_2024_
_£_|
|---|---|---|---|---|---|
|_Fund balances at_
_31 December 2024_
_are represented by:_
_Tangible fixed assets_
_Fixed asset investments_
_Net current assets_
_Total net assets_|_—_
_1,481,461_
_297,269_
_1,778,730_|_3,766,822_
_—_
_—_
_3,766,822_|_—_
_7,000,000_
_—_
_7,000,000_|_127,908_
_95,113_
_7,882_
_230,903_|_3,894,730_
_8,576,574_
_305,151_
_12,776,455_|
The total unrealised gains at 31 December 2025 immediately prior to the transfer to the CIO constitute movements on revaluation of investments and are as follows:
**----- Start of picture text -----**
2025 2024
£ £
Total unrealised gains on listed investments at 31 December 2025 1,735,464 916,470
2025 2024
£ £
Reconciliation of movements in unrealised gains
Unrealised gains at 1 January 2025 916,470 425,234
In respect to disposals in year (240,377) 15,547
Net losses arising on exchange differences (87,797) (13,103)
Net gains arising on revaluation in the year 1,147,168 488,792
Total unrealised gains at 31 December 2025 1,735,464 916,470
**----- End of picture text -----**
## **18 Trustees’ expenses and remuneration and transactions with Trustees and related parties**
The charity's Trustees are all members of the Congregation and consequently their living and personal expenses, all of which are consistent with the amounts paid in respect to other members of the Congregation, are borne by the charity. No trustee received any remuneration or reimbursement of expenses in connection with their duties as Trustees (2024 – none).
As members of the Congregation, none of the Trustees have resources of their own as all earnings, pensions and other income have been donated to the charity under a Gift Aid compliant Deed of Covenant. During the year, the total amount donated by the Trustees to the charity was £110,009 (2024 – £108,581).
There were no other related party transactions during the year requiring disclosure (2024 – none).
## **19 Ultimate control**
The charity, which is constituted as a trust, was controlled throughout the period by The English Province of the Congregation of the Sisters of St Joseph of Annecy by virtue of the fact that the Superior of the Province appoints the Trustees.
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **46**
**Notes to the accounts** Year to 31 December 2025
## **20 Capital commitment**
There were no capital commitments at 31 December 2025.
## **21 Transfer to the Sisters of St Joseph of Annecy CIO**
With effect from midnight on 31 December 2025, the assets, liabilities and activities of the charity were transferred to Sisters of St Joseph of Annecy CIO (Charity Registration Number: 1214227) in accordance with a legal transfer of undertaking deed. The net assets at that date comprised:
**----- Start of picture text -----**
£
Tangible fixed assets (note 10)
. Cost 5,231,314
. Depreciation (1,366,897)
3,864,417
Investments (including cash held within investments of £415,986) (note 11) 9,183,198
Debtors (note 12) 316,872
Cash at bank and in hand 303,506
Creditors: amounts falling due within one year (note 13) (215,169)
13,452,824
The funds of the charity which were transferred comprised the following:
£
Restricted fund (note 14) 242,128
General fund 2,474,187
Tangible fixed assets fund (note 15) 3,736,509
Designated funds (note 16) 7,000,000
13,452,824
**----- End of picture text -----**
The English Province of the Congregation of the Sisters of St Joseph of Annecy
Charitable Trust **47**