DOMINICAN SISTERS (THIRD ORDER)
CONGREGATION OF NEWCASTLE NATAL
(Established at Bushey Heath, Hert8)
(Registered number 2332361
ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2023
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DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
(Registered Number 233236)
ANNUAL REPORT
31 DECEMBER 2023
CONTENTS
TRUSTEE, OFFICERS AND PROFESSIONALADVISORS......................
TRUSTEE'S REPORT........
Geographical location and operation.... .
Governan￿, structure and management........................................................ ..
Realising the Charity's Objective........................ ...
The Mission of the Congregation in South Africa.
Strategic Plan for 2023 and Future Plans.............
Financial Review including Trustee's Responsibilities.............. .
Reserves Policy............................................................................
Investment Policy..
Disclosure of Infomiation to the Auditors.........................................
INDEPENDENT AUDITORS, REPORT....
STATEMENT OF FINANCIAL AcnviTIE8............................................... ......
BALANCE SHEET...............................................................................
STATEMENT OF CASH FLOWS......
NOTES TO THE FINANCIAL STATEMENTS...................... ..................
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15
18
19
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Salnt Domlnlc Founder of the Order of Prgachern
11170- 1221)

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
TRUSTEE, OFFICERS AND PROFESSIONAL ADVISORS
FORMAL NAhE OF THE cHAl￿Ty
ODminican Sisters {Third Orderl Congregation of Newcastle Natal {Eslablished al Bushey Heath, Hertsl
known as Dominun Sisters (Third Orderl Congregatson of Newcastle Natal
TRUSTEE OF THE CHARITY
Saint Rose of Lima Association Limrted, the Directors and Officers of which are the Congregation Prioress
and Congregation Council members of the Sisters of the DominScan Congregation of Saint Catherine of Siena
ol Newcastle Natal, as below..
CONGREGATION PRIORESS AND DIRECTOR OF THE TRUSTEE
M. F. Cunningham (Sister Felicity OPI to 19 March 2023
A. B Cunningham (Sister Ann OPI from 19 March 2023
CoNaREQATION CouNCILLOR8 ANO DIRECTORS OF THE TRUSTEE
M. C. Tuohy Isisler Maria OPI, Congregalion Vi¢aress & Sister Bursar
K, E. d'Artois (Sister l<aren Marguerile OPI. Congregation Secretary
E. Airey {Sisler Eileen OPI to 19 March 2023
C McGary (Sister Christina OP) from 19 March 2023
SISTER BURSAR
M. Tuohy (Sist8r Maria OPI
GENERAL BURSAR
P. M. Kelly FIA Retired
FMNCE MANAGER
R. D. Bolton FCA
ADDRESS
Rosary Priory
93 Elstree Road
Bushey Heath
Bushey WD23 4EE
Telephono:
Wobslta:
020 8950 6065
.dominlcans16ters.co.uk
CHARITY REGISTRATION NUMBER
233236
JURISDICTION OF REGISTRATION
England and Wales
Au￿ToRs
Buzzacott LLP
130 Wood St￿et, London EC2V 6DL
SoLi¢rroRS
Farrer & Co LLP
66 Lincoln's Inn Fields
London WC2A 3LH
Stone lQng LLP
Upper Borough Court
Upper Borough Walls
Bath 8A1 1RG
BANKER8
Royal Bank of Scotland plc
London Drummonds Branch, 49 Charing Cross, London SW1A 2DX
INVESThIENT MANAGERS
Rathbone Investment Management Limited
8 Finsbury Circus, London EC2M 7A2
CUSTODIAN TrusTEES
Bank of New York Mellon and Rathbone Nominees Limited
Annual Report and Financial Statements 2023

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
TRUSTEE'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustee of the Charity is Saint Rose of Lima Association Limited, the MembeTS, Directors and Officers of
which are the cong￿gation Prioress and Congregation Council members of the Sisters of the Dominican
Congregation of Saint Catherine of Siena of Newc8Stle Natal. Saint Rose of Lima Association Limited is
ompany limited by guarantee. It was registered as a company on 15 March 1974. Its goveming documents
comprise the Memorandum and Articles of Association. In the event of being wound up. the members may
be required to contribute an amount not exceeding £1 each.
The Directors of the Trustee present the Trustee's Report and the audited financial stslements of the
Dominican Sisters (Third Order) Congregatson of Newcastle Natal for the year ended 31 December 2023.
The Charity encompasses the European (UK and Rome) activities of the religious Congregation tilled Sisters
of the Dominican Congregation of Saint Catherine of Siena of Newcastle, Natal. Sisters of the Charity141 at
31 December 2023,. 40 at 31 December 20221
istered in England and Italy. Other Sisters of the religious
Congregation 129 professed al 31 Decemb
023: 26 at 31
mber 20221 minister in South Africa
including seven12022.' eighll ministering i
12022.. seven)
profil ents'lies but the Charity has no
financi81 interest in their operation. The
ulions of the four
ntln
g South African schools established
by the Congregation provid8 for S
or their appointees to
resented on the respèctive Boards
of Goveman¢e, Currently thfte12022:J
South African Sisters fil
Oles. The Dominican convents of
the Congregation in South Africa a
nonically dependent on this
gallon and supported by grants
as necessary for charftable work,
gh not part of Èhis Ch I
an
nancial statements include this
support bul do not include their a
Further informatio
ccounting is set out in No18 1
to the Financial Statements.
asi
The accounts accompanying th
ofthe Congregation are held.
and the Charities Acl 2011.
rt are the accounts of tts cha
n¢lude all the Charity s aetivilie
st
pe
which the assets in Europe
follow the Charities SORP
OurAlms: The objecllve olthe
harity Is the advancement of
Roma
,Cgtholi¢'
of any associated Gharitab
w¢rk for the time being carried on
r¢!ugh thé
sl
Con9re9alion Prioress. Thi
mernbers of the wng
tio
nclud95 maintenance of conv8nls $uortlng
eligion and the support
ith the approval of the
e and the upkeep of
Orlglnal Ml88lon: T
' Itimate aim and purpose of the Catholic Church and th
ithKè,bt the Congregation
is 'lhe salvalion of sOlI I. Icf. CIC 17521. In furtherance of this goal our aims 51em
e original mission
of Mother Rose N ilahd
ho in 1896 founded the Sisters of Saint Catherine of Siena.
hin the Dominican
tradition, in New¢astleJ
outh Africa. Like so many active congregations founded al th
ime, Mother Rost
sel out lo meet the
ytgenl social need for education among the indigenous and Colonial
opulation. These
eady pioneers were women of great faith and courage who t¢)ok enormou$ risks and suffered considerable
hardships. Part of their legacy was fine schools, four of wh￿h Still exist. Among those pioneers there was
an urgency and zeal to evangelise as well as lo educate. In this they were faithful lo the Dominican motto..
To give to others the fruits of our contemplation. Similarly, in today's world we aim lo provide effective
preaching, leaching and pastoral care flowing from religiou5 cornmunilies of prayer and study. Through the
work of the Sisters we seek lo awaken and deepen faith, hope and charity, lo the benefit of those to whom
we minister, lo their families and to the wider community.
As Domlnican Sisters w& find inspirat￿1n in the following quotation from the Basic Con5b'lution.'
To perfect our love of God and neighbour in the following of Christ, by religious profession
we are enrolled in the Order of Preachers. completely consecrated to God in a new way,
dedicated lo the whole Church. and totally engaged in spreading the Wcrd of God.
18asiG Constitution of tho Ordor of ProaGhgrs. Para1111
Geographical location and operation of the Charlty
The Charity operates in the following countries-. United Kingdom and ltsly.
Governance, structure and management
Governance
The temis of the Charity Governance Cod8 have been considered. The Code was ￿freshed at the end of
2020, the changes focussing on 'integrity' and 'equality, diversity and inclusion,. The Trustee believes the
Annual Report and Financial Statements 2023

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
TRUSTEE'S REPORT ICONTINUED)
FOR TheYEAR ENDED31 DECEMBER2023
Charity meets the principles of the good governance code. In the Charity's particular circumstances, there
te not rcile descriptions defining responsibilities for all Directors of the Trustee.. each is collectively and
dividually responsible. Directors of the Trustee are appointed by the General Chapter meeting (see page
4 below) and ar8 drawn from the Sisters of the religious Congregation.
The Congregation is canonically affiliated to the Order of Preachers, a religious order of the Catholic Church.
The Order of Preachers was founded by St. Dominic in the thirteenth century for the purpose of preaching,
leaching and pastoral work in collaboration with bishops. Members of the Order are often known as
't)ominican5' after their founder.
As part of the cathol￿ Church, the Order of Preachers land our Congregalionl is bound by the Church's
Canon Law, especially as contained in the 1983 Codex luris Cononici (Code of Canon Law. 'CIC'I, and lo the
18gitimate pre¢epls of the Holy See and the Roman Ponliff.
In addition to th8 above m8ntioned nomvs, the Congregation has its own canonical governing dccuments, the
Conslilutions and Directory, which are compliant with Canon Law. These govern the life of the Sister8 which
Is founded on the evangelical counsels of povety. cha51ity and obedience lo which they bind themselves by
vow, and is characterised by prayer, study, community life and ministry.
In terms of civil law, the Charity is formally established by a Trust Deed daled 20 January 1953 as varied by
the provisions of a S¢heme Sealed on 4 May 1995 and is a registered charity - Charity Registration
No. 233236. The Trustee of the Charity is Saint Rose of Lima Association Limited and is an English company
which 15 limited by guarantee. It acts through ils four Directors and Officers who are the Congregation
Pnoress and her Council. As such. they have detailed knowledge of the work of the Charity and ils structure.
New Dire¢lors on being appointed are required to familiarise themselves with the responsibilities of being
Iruslee, and on the Charity's position.
The names of the Directors and Officers who served during th8 year or were subsequently appointed on 19
March 2023 following the Dec8mber 2022 Ggneral Chapter (see below) are sel out in the reference and
administrative details on page 1 of this report and accounts. Brief pen portraits of each of the Directors of the
Trustee for 2023 and to dale a￿ sel out below..
Durlng 2022 and down lo 19 March 2023..
Sl•ter Fellclty Cunnlngham was elected Congregation Pnoress in December 2016 and appointed Dire¢lor
tsf the Charity on 28 April 2017, Prior lo her election, She was Region Prioress in South Africa. After some
years in Ihe leaching profession. she spent several years in parish ministry ané a number ol years in formation
ministry.
Sl•tor Elle8n Alrey was elected Counallor in December 2016 and appointed Director of the Charity on
28 April 2017. She was teaching al secondary level for eleven years and was also head of religious educ8tion
for three years in this pariod. In 1993 she was elected to the Congregation Council, returning from Argentina,
and worked in team ministry in several parishes in the Slevenage, Hertfordshire, area. In 2000 she returned
to mission work in Argentina for three year5, returning again in 2006 for another two years. In be￿een she
was a parish slster In Harpenden, Hertfordshlre, and from 2009 in Aberdare, Wales. In 2011, she went to
South Africa 88 fomialor of the young Sisters in training and was involved in retreat work until 2017.
Throughout 2023 and continuing..
SIBter Maria Tuohy was elected Councillor in December 2016, re4lected in December 2022 and appointed
Direclorof the Charity on 28 Apnl 2017. She laught in secondary education for many years and subsequently
engaged in administration of the Charity in the role of Sister Bursar. She was previously Councillor and a
Director of the Charity from 1982 10 1993.
S18ter Karen Marguorito d'Artoffj was elected Councillor in December 2016. re-elected in December 2022
and appointed Dire¢tor of the Charity on 28 April 2017. She has worked in university chaplaincy and faith
fomation for children and adults and trained in formation ministry. Imlh a strong background in
administration, she is also cUr￿ntlY Congregation Secretsry and Co-ordinator of the Niland Conference
Centre run by the Charity.
Annual Report and Financial Statements 2023

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
TRUSTEE'S REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DecEM8ER 2023
From 19 March 2023..
Sistgr Ann Cunningham was electgd Congregation pr￿re$S in December 2022 and appointed Director
of the Charity on 19 March 2023. Pnor to her election she was engaged in areas of formation ministry,
spiritual direction, grief-share ministry, and retreat work. She was previously Congregation Prioress from
2004 to 2016 and a Director of the Charity frorn 2005 10 2017, prior lo that she was Regicn Prioress in
South Africa and before that had some years in the teaching profession.
Slster Christina McGafry was elected Councillor in December 2022 and appointed Director of the Charity
on 19 March 2023. She was in South Africa for 29 years, studying and then leaching in secondary schools
and also engaged in parish ministry. She returned to England in 1994 and taught in one of our
schools. During this time she studied British Sign Language doing stage 1 and stage 2 exams.
From 1999 to 2002 she was pastoral worker for the Deaf in the Clifton diocese, Bristol.
From 2002 10 2014 she was in Rorne running our guest house there. Since returning to England she has
been involved in parish ministry and volunteering in a homeless centre and foodbank.
Background to tho80 appolntments:
The Congregation Prioress and her Council are elected ev8ry six years al a General Chapter Meeting of the
cong￿ gation, the most recent being in December 2022. The General Chapter, composed of elected and
ex-offi'cio members. elects the Congregation Prioress and her Congregation Councillors on the basis of thèir
personal qualits'es, their understanding and experience of the ministries of Sisters and lo provide a useful mix
of skills. Following their election to Congregation Council. these Sister5 are appointed Director¥ of the
Trustee and are responsible for the organisalion of the Charity and the adminislralion of ils as5e15. It is their
duty to ensure that the a¢tivitie$ undertaken are for the a¢Jvancernenl of the objeels of the Charity. Decisions
are taken by the Congregation Prloress and her Council I'The Committee'l as the Directors of the Trustee.
The Congregation Prioress visII8 all the convents and houses of the Congregation either personally or by
delegate at least every three years. The purpose of the visilalion is that she may endeavoLbr to examine and
assess the quality of community and apostolic life and that she may ¢ome to know the Sisters better by giving
them an opportunity lo make known their needs and their opinions about the life, apostolate and
administration of the community. Systems of accountability mean that the Congregats'on Pnoress and her
Councillors are aware of and able to assist with the progress and development of the ministries Carried out
by the SisteTS.
Bur8•r8 and Local Communltlo$
The Sister Bursar, Sister Maria Tuohy, is responsibl8 for Supervising financial and property matters and
attending and reporting on these at meetings of the Directors of the Trustee. She is assisted by the General
Bursar and the Finance Manager, both being lay staff.
Each local community is gov8m8d by an elocled Prioress or appointed Leader.
House Bursars are responsible for financlal aspects of local communities. A number of Sisters have been
granted budgets for the expenditure they incur in the course of their ministries and report monthly on their
use of this facility.
Romun8ratlon of Dlrnctors of tho Trust00
Whi18 th8 D1￿CtOrS of the Trustee have been maintained in accordance with the Charity's duty lo provide for
the Sisters, Ihey have received no remuneration whether in the course of their dutw or otherwis8.
Any income paid to them in the course of their work has been given to the Charity.
Remuneration of Key Management Personnel
Initial remuneration levels of key management personnel were established by surveying comparative rates
and negotl81ion with the individuals. Historically, when there were a significant number of other employees.
subsequent annual reviews of pay applied the same change as applied lo them. Now, reviews are infomied
by data from the Bank of England agents, survey of real wage growth or the Office of National Statistics as
available.
Annual Report and Financial Statements 2023

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
TRUSTEE'S REPORT ICONTINUEO)
FOR THE YEAR ENDED 31 DECEM8ER 2023
Rlsk Managemonl
In line with the requirerrtenl for the Trustee to undertake a risk assessment exercise and report on the same
In this report, the Directors of the Trustee keep under review the major risks to which the Charity is exposed.
They have identified the following main areas where risks may occur. acknowledging the inevitable overlaps..
OPERATIONAL
• The Chanty's Work
Govemance and Management
• Lifelong Safeguarding
• Data Protection
• Informationlcyber Securty
FINANCIAL
• Investments
• Fraud
REPUTATIONAL
Social Media
Mistakes and misjudgemenls
REGULATORY
• Compliance with law Including Charlty regulation, Employment an(J Health & Safety
OPEIIATIONAL
Tho Ch•rlty'8 Work.. considers the activity of the Charlty which is pdmarily the advancement of the Roman
Catholic Religion and associated charitable work. Faotors ¢onsidered include that thi$ may require to be
reinterpreted in the circumstance that Sisters are ageing and few new member5 are joining. However, ￿0
Vietnamese Sisters arrived in 2023 {and one in 20221 from the South Africa Region of our Congregation and
other possible candidates are being considered. The Directors of the Trustee continue lo monitor this aspect.
Governance and Managfrmont: considers the efficacy of the trustee body. Risks considered are of
trustee body which lacked sufficient skills, Commitment and appropriate decision-making procedures. Such
risks could include a lack of training of Sisters and staff andlor poor stewardship ol resources
human,
fi'nancial and prop8ty. The Dire¢lors of the Trustee monrtor thlg 8$pect and engage In approprfate courses
and training.
Llfelong Safeguardlng.. Child and adults at risk policies and procedures are in place both in relation lo
ministry engagement of Sisters and in relation lo our own adults at nsk. In its Compliance with the One Church
Approach, the Trustee is commilled to implement the ￿ViSed policies and prO￿dureS emerging from the
adoption of the Elliott Review (November 20201 and the final ￿port of IICSA {October 2022} by the Catholic
Bishops Conference of England and Wales and the Conference of Religious of England and Wales, vvz.,
contracting with the Catholic Safeguarding Standards Agency {CSSAI and subscribing to the seNices
provided by the Religious Life Safeguarding Services IRLSS), both of which were launched in June 2021.
The Directors of the Trustee have appointed an employee to Monitor and advise on this aspect and
themselves engage in training.
Data Protectlon: seeks lo guard against potentially damaging threats to our and others, data, whether
internal or external, deliberate or accidental. The Directors of the Trustee have appointed an employee to
monitor and advise on this aspect.
nfomiationlcybfjr Sgcurity: seeks to guard against potentially damaging threats to our operations through
wrongful removal of infomation in whatever form or hacking of systems and communications. The Dlrectors
of the Trustee seek lo spread knowledge of such activities and encourage continual awareness of this nsk
area and its Gontinual evoluts'on.
FINANCIAL
Investments: The Charity's principal assets comprise listed investments, the value of and income from which,
a￿ dependent on movements in UK and world markets. A substantial long-lerm loss of value of these
investments would threaten the long-term financial viability of the Charity, and any significant redu¢tion in
investment income could require sale of some investments lo raise cash in the short tenn. To mitigate this,
Annual Report and Financial Ststements 2023

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
TRLISTEE'S REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
the investments are managed by reputable investment managers who adhere to the policy agreed by the
Directors of the Trustee and themselves have strict internal protocols. The perfornian￿ of investments and
our investment strategy are reviewed regulady by the Directors of the Trustee so that the investments rèmain
appropnate to the Charity's needs (see further on page 131.
Fraud.. Seeks to guard against the potents.al risk lo the Charity from fraud or financial Ir￿gUIarlty, which could
InclLJde unauthorised expenditu￿, inappropriate investrnenl policies, cyber-attacks and unreliable accounting.
The Directors of the Trustee have established appropriate separation of roles and authority levels for those
dealing with the Charity's assels. Including the requirement for a second aulhorised signature for all but
insignificant payments.
REPUTATIONAL
Social Medla: seeks to guard against the inappropriate use of socral media and potentsal danger lo our
reputstion through such use. The Dire¢lors of the Trustee havè established a poliGy for this aspect which is
disseminated amongst personnel, and for the spreading of knowledge of such activitie5 and encouraging
Continual awareness of this nsk area and its contsnual evolution,
Ml8takes and mi•judgernents- s88 8bove Soclal Medla, Data Protoctlon and 1nlom7at1or￿Cyb0￿
Socurity
REGULATORY
Compliance with civil kaw including Charity regulation. Employment and Health & Safety -
Charlty rogulatlon: The Diro¢lors of the Trustee and others involved tske advantage of the courses offered
by a variety of legal, investment and Professional bodies including the Association of Provincial Bursars, the
Charity Finance Group and Civil Society.
Opgr•tlonal detall: seeks lo guard against the possibility of danger lo the health, safety and well-being of
those with whom we come in contact, of employees and of Sisters.. and against the potential risk that the
property and buildings of the Charity could suffer alienation or damage or may not be appropriately adapted
for use by the physically or mentally challenged. The Directofs of the Trustee arrange for specialist advice lo
b8 retained in this area, and for appropriate insurance cover.
As indicated above, having identified the major rlsks lo which the Charity is exposed. the Directors of the
Trustee have established systems and procedures to miligale those rlsks as far as reasonably possible. All
policies are updated regularly to maintain good practlGe.
Reall8lng the Charlty's Objectlve
The Directors of the Trustee have given due consideration to the Charity Commlssion's published guidance
on the Public Benefit requirement under the Charities Act 2011.
Advancement of the Roman Catholic Religion for Public Benefit, the Charity's main objective, ig realised in
the following ways..
Worship and Prayer Life
Education
Caring, Pastoral and Social Ministries
Collaborab'on
Use of Houses of the Charity
Lay Associates
ile 2023 allowed a return to many of our previous activities, change5 wrought by the passage of time
since the pandemic also saw some curtailment of previous outside engagerngn( primarily because of the
increasing age of most Sisters. Telephone, Zoom, Teams and other social media platforms have enabled
Sisters ol all ages to engage in active ministy with individuals and small groups in spite of reduced public-
facing activities which involved going out from our Communities or indeed welcoming in members of the
public. Of paramount importance has been Sisters, constant prayer for all those in need of support. The
carying out of our activities during 2023, as more normal limes returned, is considered in more detail below
together with a number of on-going endeavours..
Annual Report and Financial Statements 2023

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
TRUSTEE'S REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Worship and Prayer Llfe
The daily celebration of the Liturgy, the prayer of the people of God the Eucharist and the Prayer of the
Church- is one of the principal elements in our Dominican Life. Members of the Congregation are given the
opportunity for private prayer, ongoing formation, study of the Scriptures. and days of rewlleclion In each
ol our houses, Sisters invite people from the wider community lo join us in prayer. Our preaching mission
can onty emerge out of a life rooted in prayer and praise. W)en we leave the liturgy, we are being mi55ioned
back lo the world. lo'give to olheTS the fruits of our conlemplation,. Sisters are open lo receiving and listening
lo people seeking spiritual guidance and help.
The Gardens and Chapel al Sl Rose's, Cricklewood, serve as a place of prayer, silence and retreat, valued
by ils users. The beautiful Poustinia la place of Pfayerl is again being well used ané open to anyone wishing
ID have a 'place 8part'. In addition, Sisters are available to offer a listening ear and to give spiritual guidance
and direction. Access lo the gardens and Chapel has been Teslored to that of pre-pandemic times, with
appropnate proloGols in place. A number of reflection days and evenings, and various other spiritual events,
are on offer.
I houses welcome parish groups for study and discussion and Sisters support prayer- and Gospel-sharing
groups. These groups, meeting regularly, give the public an opportunity lo escape the stresses of everyday
lile for a short lime and enable quiet contemplation and reflection. In 2023, many of these groups which had
ntinued in 2021122 on Zoom increaslngly returned lo in-person encounters.
During 2023, the Niland Conference Centre was unable lo offer the same kind of spiritual programme as had
been in place prior lo the COVID-19 pandemic. This is one of the very real consequences of the ageing of
Sisters. However, this has been replaced by our welcome of a wider variety of spiritual, educational and other
groups availing of the Iranquillity, beauty and wonderful facilities of the cent￿ and its grounds to run their
own events, Sisters have continued lo offer hospitality - and input where possible.
Throughout the extensive months of pandernic. the m051 fvjndamental aspect of Sisters. lives had an even
higher prominence.. prayer and liturgy. As individuals and Communities, Sisters devoted themselves
wholeheartedly lo praying for individual need8 as well as for the needs of the whole wortd and, in particular,
lor an end lo continuing threats to health, the wars in Ukraine, Palestiné and other sadly challenged areas,
109elh8r with other reslriGlions and threats to the propagation of the Gospel. Thus. the most Immeasurable
aspect of our contribution lo society and public benefit continued lo see tremendous impetus and growth
which is continuing to date.
Educatlon
The Charity has been engaged In the minlstry of education since Ils foundation. Education remains
cornerstone of our ministry as Dominican women and is regarded as an essential agent In gvangelisalion and
catechesis. One of the areas offocu5 in this regard is Adult Formation al the Niland Conference Cenlre. One
sister is Co-ordinator of the Niland Conference Centre and is supported by Sister team members as well as
Associates of the Congregation on an ad hoG basis. The Dominican charism of preaching the Gospel remains
at the heart of all the activities and event5 hosted at the Niland Conference Centre.
One Sister wa5 engaged in one ofthe secondary schools founded by the Congregation as a full-time Learning
Support Assistsnt for students with a variety of Special Educational Needs ISENI, behavKJural and other
needs which impinge on their educational outcomes.
Two Sisters serve as Foundation Governors to Catholic Schools in Weslminster Diccese.. one a Catholic
Secondary founded by the Congregation and now run by the Di(Kese', and the other a Catholic Sixth Form
College with a Dominican ethos.
nnual Report and Finan¢ial Statements 2023

DOMINICAN SISTERS (THIRD ORDERI CONGREGATION OF NEWCASTLE NATAL
TRUSTEE'S REPORT ICoNTINUEoI
FOR THE YEAR ENDED 31 DEceMBÉR 2023
Other Sisters have been engaged Isubjecl to appropriate restriCt￿ns) atthe Pontifical University of St Thomas
(Angelicuml in Rome..
as Dean of the Faculty of Social Sciences, Project Director of the formation programme
°CREATE.. Catholic social thought Rome Exchange.. Advanced Training Experien￿. and of the
formation programme STRONG for migrants, Senior Advisor lo"Blueprinl for Better Business.,
8 London-based charity which aims to create a better society by means of beller business
practices, Consultor lo the Dic8slery for Promoting Integral Human Development, teaching
courses.. 'Calholic Social Teaching. History of Christian Social thought." 'Management and the
Common Good" and running seminars. Creating a Culture of Inclusion for Persons with
Disabilities" in August 2020 Sister was appointed Ordinary Acadernician of the Pontifical
Academy of Social Sciences IPASS.) Ihen appointed lo the Council of PASS in 2022 and
appointed President of PASS in 2023..
as Chaplain for an English- speaking Lay Dominican Fratemity,
Other Sisters a￿ engaged..
in supporting and working with schools and parishes, through running in-service training days for
staff and catechisls who themselve$ are involved in promoting the Catholic faith.,
in children's catechesis and sacramonlal preparation in a local parish".
in serving as Welfare Officer of Blackfriars Hall and Sludium, al the Universty of Oxford.,
in providing theological education and sacramental preparation for te8ns and adults in a number
of local parishes,. and
in providing retreats for staff and pupils of Catholic schools and members of local parishes. Some
of these retreats lake place in their schools and parishes and others at the Niland Conference
Cenlre.
C•rlng, Pastoral and Soclal Mlnl8trlo•
A number of our Sisters are again engaged in parish ministries. These include..
being active in catechelics and promling 80cial justice.,
assisting in the training of catechisls.,
arranging retreat days for groups in local parishes,. and
organising and running days ol reflection and retreats throughout the Church's liturgical year.
In fulfilling their individual ministries Sisters aim to Carry out various forms of social and pastoral work.
Through this work, the Charity att&mpts to reach out lo those in need and aims to benefit a $tgnlficant number
of peopl8.
Some examples of the work of individual Sisters in 2023 and 2022 are given below by way of Illustratlon..
A number of Sisters are involved in ministy as pastoral workers with the elderly and infimi (some
of whom are in their own homes, others in nursing homes). Sisters vi511 them regularty and
provide a listening ear and spiritual accompaniment.
Sister5 are also involved in Parishes where they reach out to the poor and needy through religious
education and social support.
A Sister assists al her local food bank and al a drop-in-centre that provides meals for the
homeless.
To draw attention to the needs in ￿ciety, Sisters lobby and participate with others in an effort to
bring change for the good of society Sisters have continued to be active in drawing attention to
the challenges and ￿Sk$ of climate change, issues which affect the whole world.
The Charity enables and supports individual members of the Congregation in ministry and outreach work
thereby furthering the message set out in the Gospel. Sisters have continued to reach out to individua15 and
remain in contact with organisalions with whom they can collaborate. Indeed, because of an even greater
awa￿neSS of the isolation faced by so many in recent times, Sisters have made an even more conscious
effort to keep in touch with individuals who are in need of a listening, understanding ear. This work continues
in the currently freer circumstances.
Annual Report and Financial Statements 2023

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
TRUSTEE'S RÉPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
4. Collaboratlon wlth Religious and other Organlsatlon$ In the Church
such Gollaboralion in recent years, hampered to a degree by Covid in 2022, includes..
hosting days of renewal, reflection and prayer to which all religious and parishes are invited,.
working with Anglican and Baptist Churches in offering pastoral care and a listening ear.,
assisting, a5 noted above, in pastoral support at Blackfriars Hall in Oxford (the 'studium generale,
of the English Province of the Dominican Orderl.,
the ongoing Involvement of the Congregation Prioress in UISG Ilnlernatlonal Union of Superiors
Generall which keeps the Charity updated on global needs and concems.,
through the Congregation Prioress, representing the Charity at COR (Conference of Religious of
England and Wales), being fully involved in Dominican Sisters International Confederation, the
Dominican Association of Britain and lffland, and in DSE (Dominican Sister5 Europel keeping
the Charity and Congregation in tou¢h with what is happening in Religious life in general, as well
as at the level of the Dornini¢an Order.,
Sisters continuing lo collaborate with other Dominicans through their participation in Dominican
Family Days. th8 annual Dominican Seminar and meetings of lay Dominicans., and
Difeclors of the Trustee Pa￿'Clpa1lng in study days, conf8rences on the consecrated life and
charity conferences.
Houae8 of the Charlty wlth a sp•clal empha¥l8
The hous8s of the Charity ar& places of hospitslity and their fa¢ilits'es are offered for public benefit in a variety
of ways..
As mentioned above, in Cricklewood our St R05e's Chapel, Peace Garden and Poustinia offer
quiet place for reflection, prayer and silence to those of all faiths seeking peace and Iranquillity
away from the noise and busyness of everyday life.
st Michael's Convent at Harpenden 15 regularly used by Church and local groups for meetings,
discussions and day events, mostly led by the Sisters. The convent chapel is also open for private
prayer,
Our convent chapèl at Rosary Prlory, Bushey, 1$ regularfy used for mornings of prayer, refleGlion
and music appreciation. and the gafdens and grounds are appreciated by visitors as places of
beauty, reflection and reconnecting wrth God in Creation.
Lay A•$oclat8•
An Associates programme encourages lay people to share the DominI￿n charism of the
Congregation through developing their personal spirituality, strengthening their faith and prayer
life, and fulfilling their baptismal mission in their family life, workplaG6, neighbourhood and local
Parish.
Assoc*ales are individually affiliated to the Congregation by a process of formation and, should
they so choose. a fomial commitment lo continue formation in the Dominican charism.
The formation of these Lay Associates is another aspect of the mission of Education of the
Congregation, as il extends the theological and spiritual education of its AsscLiales.
Members ol the Associates are promoting for new members in local Parishes and in schools
which we had originally estsblished and where we continue to have strong links.
The Associates programme continues to use both in-per50n and Zoom gatherings, reducing the
need to travel. and supplemented by the dovelopmenl of WhatsApp groups for ongoing shared
prayer and reflection.
Tho Mission of the Congregation in South Africa
The Charity 5UPPOrts the Congregation mission in South Africa and the charitable works there, partiCLtlarly
evangelisalion, education for life programmes and care of the poor, desb'lute and needy.
Strategic Plans for 2023 and Future Plans
The Nineleenlh General Chapter of the Congregation took place in December 2022. The implementation
and Dutcomes of the previous 2016-22 Stiategi¢ Plan were reviewed in detail and the primary objectives for
the 2023-2028 Per￿ were promulgaled..
In today's world, we seek to be a witn8ss lo the Importan￿ of human ￿lab'OnshIpS and building
Annu¥l Report and Financial Ststements 2023

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
TRUSTEE'S REPORT ICONTINVEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
these 8cross the mulb'plicity of divides which exist. As religious women, we have a deep love and
concern for the people of our local communities, our nation and our world.
In our misston of preaching the Gospel, we acknowledge the need to engage senously with fomis
of human knowledge which equip us with the skills lo translate that Gospel into answers to the
quesb'ons and needs of the people of OL¢r lime.
In the light of the environmenlal challenges with which we are faced, we seek to comply with the
imperative of profound ecological conversion, both practical and Spiritual. This is expressed in
our local communities and our engagements with people of various backgrounds. It is a core
component of our leaching, outreach and ongoing formation of all Sisters.
We continue to build upon the solid foundatsons of our Lay Associates Programme. with outreach
in particular lo Schools founded by the Congregation and others. Our Associates share our
mission, ministry and eharism. Together we are establishing a Volunteer Programme to facilitate
the Congregation's outreach through ils several preaching proiecls.
The management of our Property and Finances continues lo be of pararnunt importance for the
preservation of assets to SU51ain both the current mission and that of th8 future. This includes
initiating a process of succession planning and training in leadèrship and governance.
We are convinced of the positive potential of social media for our missicn of preaching the Gospel
and for promoting vocations. This will require an initial investrnenl in training Sisters.
We continue to encou18ge new membership through renewed and contemporary promotion
efforts.
In the light of continued focus on initial formation, 8 renewed emphasis on Theological and
Professional Studies will be undertaken.
The outcome of our delving into the history of our Congregation is a new publication by University
of Kwazulu Natsl Press titled 'The FAis1 Black Dominican Sisters of Natal (1922 - 1939).. Al the
Crossroads of Race 8nd Gender, by Philippe Denis OP. This book constitutes an important
contribution to race and gender studies across a vafiety ol social institutions, cultures and nations,
This exciting outcome is both a derivative of the objectives of 2016- 22 and a spur to our ongoing
conviction of the importance of human relationships and our desire lo strengthen these through
our prayer and ministry.
In support of the aims of the Charity, the Directors ot the Trustee remain indebted lo the following employees..
The Finance Team
The Data ProleGlion and Safeguarding Lead
Fundraising Statyment
Sects'on 162a of the Charities Act 2011 requires charities to make a Statement regarding fundraising activities.
A￿hOugh this Charity does not undertake widespread fundraising from the general public, the legislation
def5nes fund raising as "soliciting or otherwise procuring money or other property for charitsble purposes..
Such amounts receivable are presented in our accounts within income from charitable aclivilies" and amount
to £41,00012022.. £36,000). There a￿ no legacies or grants recelved by the Charity in either year. We also
re￿Ne occasional unsolicited donations.
The Charity manages its own fundraising activities and does not empkny the services of Professional
Fundraisers. We confirm that all solicitations are managed inlernally, the day-to-day management of all
income generation being delegated to the executive team, who are accountable to the Trustee. The Charity
aims to achieve best practice in the way in vthich it communicates with donors and other supporters. It
takes care with both the tone of its communications and the accuracy of ils data lo minimise the pressures
on supporters. It applies best praelice to protect supporters, data and never sells data It never swaps data
and ensures that communication preferences can be changed at any time. The Charity undertakes to react
to and investigate anv complaints regarding ils fvndraising activities and lo learn from Ihern and improve its
service. During 2023, the Charity received no complaints about its fundraising activities12022 - none).
The Charity is not bound by any undertaking of any regulatory scheme and the Charity's activities do not
require il lo pay attention to any voluntary code of practice.
Annual Rep)rt and Financial Statements 2023
10

DOMINICAN SISTERS (THIRD ORDER) CONGREGA TION OF NEWCASTLE NATAL
TRUSTFE'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEM8ER 2023
Flnancial Review
Truslee's Rosponsibilltles
The Trustee is responsible for annually p￿parIng the Trustee's Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards Iuniled Kingdom Generally
Accepted Accounting Practic81.
The law applicable to Gharilies in England and Wales requires the Trustee lo prepare financial stslements lor
each financial year that give a true and fair view of the slate of affairs of the Charity and of the income and
expenditure for the year. In p￿Paring those financial slalemenls, the Trustee is reqUI￿d..-
lo select suitable accounting policies and then apply them consistently.,
lo observe the methods and principles in Accounting and Reportin9 by Chanlies.. Ststemenl
of Recommended Practice applicable to charities preparing their accounts in accordance with
the Financial Reporting Standard applicable lo the United Kingdom and Rèpublic of Ireland
IFRS 1021,
lo make judgm8nls and estlmate5 that a￿ reasonable and prudent.,
stale whether applicable United Kingdom A¢¢ounting Standards have been followed, subject
lo any material departures dis¢losed and explained In the accounts., and
to prepare the financial statements on the going con¢em basis unless il is inappropriate to
presume that the Charity will Continue In operation.
The Trustee is responsible for keeping 8ccounting records that ar8 SuffiC￿nt lo show and explain the Charity's
transactions and disclose with reasonable accuracy at any lime the financial posits'on of the Charity and lo
enable it lo ensure that the financial statements comply with the Charities Act 2011, applicable Charity
(Accounts and Reportsl Regulations and the provisions of the Charity's Trust Deed. 11 is also r8spon5ible for
safeguardln9 the assets of the Charity and hence for taking reasonable stèps for the prevents'on and detection
of fraud and other irregularitses.
81818 of Preparatlon of thes• Accounts
The 2023 financial statements of the Charity are attached lo IhSs report. They are prepa￿d on the basis of
full reporting of the Charity's activities wher&ver Carried out- Currently this is in the UK and Rome.
The Trustee considers ther& are no material uncertainties about the Trust's ability to continue as a goin
concem for the foreseeable future, btsing a period ol al least a year from the date that these financia
statements are signed. Happily, 2023 ha8 been laTgely tree from the previous impacts of Covid.
The Officers of the Trustee have considered all the matters described in the Trustee's wport including the
Charity's operations, the impact on voluntary and education income, as well as the impact on the Charity's
investment portfolio. In particular, in order lo support the assessment of the sustainability of the Charity's
activities, the Officers of the Trustee prepared a highly pessimistic scenario of receipt of only Covenanted UK
pensions from Sisters of the Con
regalion and 700k of the 2023 investment income, generating
pessimislically forecast income of £1.
m and a cash outflow of £0.3m. The Trustee is considering some
relatively sizeable capital expenditure in 2024, but not more than £0.5m. The cash resource is some £3.8m
in addition lo which are realisable holdings of UK investment grade bonds and gilts within the considerable
investment portfolio. In the Charity's particular circumstances there are no allernalive scenaflos that can
reali51ically be produced lo derive alternative assumptions for budgeted forecasts, most revenues and costs
being essentially fixed in nature. As at the dale of signature ol these Financial statements this
e$simislic
forecast indicates that the Charity will be able lo maintain liquidity for a period of al least a year fand in fact
considerably longerl from the date of signature of these financial statements and the Officers of the Trustee
consider that it is appropriate lo prepare the financial statements on a going concern basis.
The Charity's reserves are unreslricled.
The Trustee does not anticipate a change in its operations. Although the Trustee cannot estimate what the
position may be. it will be concemed lo provide support to the charitable mission ol the Congregation in South
Africa as that is necessary.
As required, the Trustee reports that no asse15 were held as custodian trustee during the reporting period.
Annual Report and Financial Statements 2023

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
TRUSTEE'S REPORT {CoNTINUEDI
FOR THE YEAR ENOED 31 DEceMBER 2023
Going concern conslderatlon
By the close of 2023 investment markets had staged somewhat of a recovery from the major disruption and
falls in value of 2022. By the end of the year the nel gain on investments, but arising only in the last quarter,
was £1.7m12022.' loss £6.1 m. itself largely reversing the extraordinary 2021 £7.Om gain).
As this Report explains, the income from investments is important. being the Charity's main income source.
In 2023 al £1.8m 12022.. £1.7ml this represented 75,/0 of income as it also was in 2022. However, the
experience of recent years shows that the Trustee is in no position to precisely forecast what future dividend
and interest flows may arise - the case continues that some enlilie5 may fail, others may reduce their
distributions, while others may be able to a deg￿e to resume distribution. Interest rates are affected by a
variety of factors ineluding Government action and market expectations. However, the flow of investment
income in 2023 of £1.8m was 80h greater than in 2022 12022. 12.10 greater than in 20211, and the Trustee
¢on5iders it reasonable to for8Gast pe55imisti¢ investment income al £1.3m being 70% of that received in
2023.
The next element of th& Charity's income 5$ £0.6m donalions12022'. £0.5ml, largely donated penslons from
Sisters (being 230A of income, 2022.. also 23Yo of income, excluding Olherl. Subject lo Sisters. mortality and
HM UK Government finances, these pensions are reasonably certain and the forgcasl for 2024 is £0.5m
giving, on the pessimislie assumption, 2024 income of £1.8m. P85simistically forecast fevenue expenditure
excluding depreciation is É2.6m leaving £0.8m to be coverecl. However, the Trustee is on course lo commit
to some £0,5m capital expenditure in 2024. Last year's consideration of sizeable capital expenditure of up to
£1 m to reduce the need for energy supplies proved, sadly, impraGliGal. For 2024, the Trustee is looking at a
pessimistic ouffiow of £1 3m I£0.8m + £0.5ml. The £3.8m investment cash al banks will Cover a £1.3m
pessimistic shortfall for some 3 years. There then remains the value of the security holdings and the other
properties from which the Charity operates,
Fln•nclal Outcome of the Year
Overall, 2023 income tolalled £2.5m12022'. £2.3m} before including gains or losses on revaluing investment
assets. Net in¢ome before taking a¢Gount of gains or losses on investments was £0.2m {2022.' £0.1 m nel
income). On investment assets in 2023 there was a gain of £1.7m as compared lo a loss of £6 1 m in 2022.
MeaSU￿d against stèrling Ilhe Charity's functional currency) during 2023 the Euro and the US dollar fell but
the Swiss Franc rose against sterling lin 2022 the Euro, Swiss franc and the US dollar all rose against
slerlingi, The exchange loss of £11 k12022'. gain £42kl arose trom restatement in pounds slerting of balances
denominated in those currencies and translation to £ sterling Ilhe reporting cur￿nCy) of transactions
undertaken in curren¢ie$.
The Statement of Financial Activities and the Notes lo this sel out the areas of Income and expenditure and
fijrther information on these.
The balance sheet shows total funds under the Charity's control of £64.6m12022'. £62.7ml. These funds ar&
used lo support the ongoing charitable work of the Charity. For example. tangible assets including propety
account for £3.6m12022.' also £3.6ml of this total and comprise the nel book value of premises occupied for
the Charity's work and of equipment and vehicles used in this. Further, the investments and cash for
investment shown in the balance sheet at £60.8m12022. £59.Oml are held for the income they earn which
goes towards financing the Charity's present and future objective. The Charity receives little by way of
donations from the public. donats'ons received largely being from Slsters. pension nghls.
The Statement of Cash Flows ￿portS cash used in operating activities of £1.5m {2022'. £1.3ml and dividends
and interest received of £1.8m12022'. £1.7ml, again emphasising the importance of the cash flow received
from the Charty's investments.
Reserves Policy
The Trustee has continued to consider the policy t¢ be adopted on the need for reserves. In common with
most religious groups there have been five important trends affecting th8 Charity in recent years..
the rate of income received on investments has seriously declined and there has been increased
volatility in market values,,
the average age of Sisters conb'nues to in¢￿aSe both because of relatively few new entrants and
the greater longevity of existing Sisters.,
mortality of okler Sisters means there is increasing risk th* pensions currently in payment will
cease.,
few of the Sisters following their vocation are eaming pay commensurate with their qualifications.,
Annual Rewrt and Financial Statements 2023
12

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
TRUSTEE'S REPORT ICONTINVEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
and
for the same reason. the few younger Sisters have litue entitlement to future pensioning.
The Trustee's overall objeelive for reserves is to seek lo maintain them at such a level that, excluding gains
or losses on investments and Iranslalion. the income generated for a year, taking one year with another,
meets the cost of ¢haritable expenditure to support the Charity's aims. Thi5 h8$ broadly been the case.
Looking at the position in more detail, in earlier years there were specific designated funds for savings and
future needs. In 2016 the Directors of the Trustee decided to 85tablish a continuity fund lo absorb these
varying needs in a single designation. The reality is that the Charity has alm051 no source of income other
than that arising on its investments and the donations from ils Sisters. The Charity's assets 8re required to
support expenditure by providing income. physical resource or funding.
In 2D23, the income arising from the Fixed assels - Investments was £1.8m or 3.1 % of £59.9m being tha
average of the opening and closing balance sheet Investments including investment cash figures. This
income was the major part of the total income of £2.5m which covered the £2.2m total expenditure. In 2022,
the income arising from the Fixed assets - Investments was £1.7m or 2.8% of £61.8m being the average of
the opening and closing balance sheet Investments including investment cash figures. Agaln, thi5 incom6
was the major part of the tota5 income of £2.3m which covered the £2.1 m total expenditure. Thus. in the
circumstsnces of 2D23 and 2022 the Trustee's overall objects've was mel. The figures d8monslrate that th8
income on the Investments is required as part of the total income lo meet expenditure, taking one year with
another. Looking al the reserves, which are all unreslricled reserves, the continuity fund is sel at the same
amount as the Investments including investment cash figures and al 31 December 2023 is £60.8m. (In 2022
il was £59,Om, again the sama as the £59.Om of Fixed assets- Investments.) The other designated fund is
for property and equipment and reflects the extent lo which assets are lied up in propety, at 31 December
2023 being £3.6m12022. also £3.6ml. Together, these represenlea almost all the £64.6m12022.' £62.7ml of
reserves, leaving general funds at £0.2m {2022.. £0.1 ml.
The TDJslee will review the policy al least annually when the financial statements are Considèr￿ for approval.
The policy will be monitored in the meantirne by the Sister Bursar.
InV￿trnent Policy
The major part of the Charity's funds is held as investments with the aim of producing an income In the shorter
term and capital growth in the longer term. Approxirnalely every years the Directors of the Trustee r8vi8W
the policy for investment. Thi3 was fomially estsblished in 1995, is aimed to be ￿vieWed on at least a tsvo
year cycle land was reviewed in March 20241. Recent reviews have been undertaken noting that the
investment managers are retained in a dlscrelionary role. The investment objects've is lo achieve a balanca
be￿e8￿ income and capitsl growth, the longer-temi growth being necessary lo support the Charity's work by
a growing income level. The Investment Managers have been provided with the Charity's Investment Policy
and rnanage the portfolio knowing the Trustee's ethical views. In addition to access as required to the
investment manager's portal and a monthly infomial desktop valuation, the Trustee receives ft)rmal quarterly
portlolio valuations and commentary with index cornparisons, and meets the Investment Managers at least
ice a year to discuss their approach and actions taken.
The Trustee requires appropriate diversification of holdings, both across drfferenl types of investment and
different investment entities. As the Charity has been involved in Wofk in various areas of the world and
cannot know where future demands may arise, some investment is outside UK based Companies. Unless it
specifi¢ally decides otherwise. the Trustee requires that no single equity holding should exceed 3.50k of the
portfolio of investments lat purchase Soh in the case of a UK Govemment security and 3°A for other
purchases) or 1 Vo of the particular security issued. The Trustee seeks lo avoid investment in Gompanies
whose business involves tobacco. the production of armaments or ex¢e$sive exploitation of the world's
resour¢es or people, and direct investment in such contracts a$ futures, options and interest rate swaps
unless these are to provide a level of insurance of portfolio value. However, the actual holdings a￿ matters
within the diSc￿li0n of the Investment Managers.
It is In the nature of valuation by the market that in some years thgre a￿ increases and in others falls. The
Trustee monitors the posib.on and is in regular dialogue wilh the Investment Managers. Investment In￿Me
in 2023 is £1.8m12022. £1.7ml.
Annual Report and FinanGial Ststements 2023
13

DOMINICAN SISTERS (THIRD OROER) CONGREGATION OF NEWCASTLE NATAL
TRUSTEE'S REPORT ICONTINUEDI
FOR THÉ YEAR ENDED 31 DECEMBER 2023
Disclosuro of Information to the Charity's Auditors
The Officers of the Twstee confirm that..
so far as they are aware, there is no relevant audit information of which the Charity's auditors are
unaware,. and
they have taken all reasonable steps they ought to have taken as Officers of the Trusteo in order
to make themselves aware of any relevant audit information and lo establish that the Charity's
auditors are aware of that information.
THANKS
Mention has been made eaflier of the contribution of Sisters, employees and support stsff lo th& work of the
Charty. In concluding this report, the Directors of the Trustee reilerale their appreciation.
This report was approved and authorised for issue by the Directors of the Trustee and the followlng were
authorised to sign on the Trustee's behalf on Ixxl May 2024.
A. B. Cunningham
Congregation Priore8S
Director of th8 Trustea
K. E d'ArtOl8
Congregation Secretary
Oirector of the Trustee
Oate.. 20 May 2024
Dale.. 20 May 2024
Annual Report and Financial Statements 2023
14

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF
DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL (CONTINUED)
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF
DOMINICAN SISTERS {THIRD ORDERI CONGREGATION OF NEWCASTLE NATAL {EsTABLISHEO AT BUSHEY HEATH,
HERTSI
Oplnion
have audited the accounts of the Dominican Sisters (Third Orderl Congregation of Newcastle Natal
(Established al Bushey Heath, Herts) Ilhe 'charity'l for the year ended 31 December 2023 which comprise the
statement of financial activities, the balance sheet, the ststements of cash flows, 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 applicabke in the UK and Republic of Ireland, (United Kingdom Generally
cepled Accounting Praclicel.
In our opinion, the accounts..
give a true and fair view of the stale of the charity's affairs as al 31 December 2023 and of its income and
expenditure for the year then ended.,
• have bean property PrePa￿d in xcordance with United Kingdom Generally Accepted Accounting
PTaclice'. and
• have been prepared in accordance with the requirements of the Charities Act 2011.
Bjsla for oplnlon
WO conducted our audit in accordanca with Intemational Standards on Auditing (UK) IISAS IUKII and
applicablg law. Our responsibilities under those standards are further described Sn Ihe 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 ?￿OUnt$ in the UK, including
the FRC'S Ethical Slandar¢J. and we have fulfilled our other ethical responsibilits'es in accordance with these
reqU1￿MentS. We believe that the audit evidence we have obtained is suffi'cient and appropriate lo provide
basis for our oplnion.
Conclu•lon$ relatlng to golng concem
In auditing the accounts, we have concluded that the trustsè's use of the going concern basis of accounting
in the preparation of the accounts is appropriate.
Based on the work we have perfomed, we have not identified any material uncertainties relating lo events
or conditions that. individually or collective￿, may ¢asl Signifi￿nI doubl on the charsty's ability lo continue
as a going concern for a period of al least ￿e1ve months from when the accounts are authorised for issue.
Our ￿spOnSibl11t1es and the re$ponsibilitie$ of the trustees with respect to going concern are described in
the relevant sections of this report.
Other Inforniatlon
The Iruslees are r8sponsible for the other infomation. The other information oomprises the information
included in the annual report. other than the accounts and our auditor's report Ihereon. Our opinion on the
accounts does not cover the other information and we do not express any form of assurance conclusion
theTeon.
In connection with our audit of the accounts, cur 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
obtsined in the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is
material misstslement in the accounts or a material misslatemenl of the other information. If, based on the
work we have performed, we conclude that there is a material misstatement of this other infomation, we are
required lo report that fact.
We have nothing lo report in this regard.
Annual Report and Financial Statements 2023
15

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF
DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL (CONTINUED)
attets on whlch wè are requir8d to r•port by ex¢èptlon
We have nothing to report in respeGI of the foll¢)wing matters in relation lo which the Charities IAccounls
and Reports) Regulations 2008 require us to report to you if, in our opinion..
• the information gwen in the trustee's annual report is in¢on$i$tenl in any material respect wrth the
accounts,. or
sufficient accounb'ng records have not been kept,. or
• the accounts are not in agreement with the accounting records and retums., or
• we have not received all the Information and explanations we require for Ouf audll,
R&8pon81bllltl88 of tru8tee•
As explained more fully in the trustee's responsibilities statement, the trustee is responsible for the
Pfeparation of the accounts and for being satisfied that they give a true and fair view, and for such internal
control as the trustee determines is necessary to enable the preparation of accounts that are free Irom
material misstatement, whether du& to fraud or error.
In preparing the accounts, the Iru51ee is responsible for assessing the charity's ability lo continue as a going
concern, disclosing, as applicable. mallers related to going concem and using the going concern basis of
accounting unless the trustee either intends lo liquidate the charity or to cease operations, or has no realistic
altemative but to do so.
Audl¢or'• re•pon•lbllltle• for the audlt 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 havlng effect thereunder.
Our objectives are lo obtain reasonable assurance about whether the accounts as a whole are free from
material misslalemenl, whether due to fraud or error, and lo issue an auditols report that includes our
opinion. Reasonable assurance 18 a high level of assurance, bul is not a guarantee that an audit conducted
in accordance with ISAS IUKI will always delecl a malerial misstslement when it exists. Misslatemgnls can
arise from fraud or error and are considered material if, individually or in the aggregate, they could
re8s0nably be expected to influenc£ the economic decisions of users taken on the basis of these accounts.
Irregularities, including fraLtd. are instances of non-compliance with laws and regulations. We design
procedures in line with our resporssibililies, outlined above, to delect material misstatements in respect of
irregularities, including fraud. The extent lo which our procedures are capable of dele¢ling irregularities,
including fraud Is detailed below..
Our approach lo identifying and assessing the risks of material misstslement in respect of irregularities,
including fraud and non<ompliance with laws and ￿gUlatiOns, was as follows..
• the engagement partner ensured that the engagement team collectively had the appropriate
competence, capabilities and skills to identify or recognise nonvcompliance with applicable laws and
regulations.,
• we obtained an understanding of the legal and regulatory frameworks Ih8t are applicable lo the Charity
and determined that the most Significant frameworks which are directly relevant lo
specific assertions in the accounts are those that relate lo the reporting framework (Statement of
Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of
Ireland {FRS 1021, the Charities Act 2011 and the Charities {Accounls and Reports) Regulations
20081.
• we assessed the extent of compliance with the laws and regulats'ons identified above through making
enquiries of management and inspecting legal correspondence., and
identified laws and regulations were communicated within the audit team and the team remained a￿rt
to instances of non<ompliance throughout the audit.
Annual Report and Financial Statements 2023

INDEPENDENT AUOITOR'S REPORT TO THE TRUSTEE OF
DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL (CONTINUED)
Auditor's responsibilities for the audtt of the account8 Iconts'nued)
We agsessed the susceptibility of the Charity's financial statements to material misstatement, including
obtaining an understanding of how fraud might occur, by..
• making enquiries of management as to their knowledge of adual, suspected and alleged fraud.. and
• ¢on5idering the internal controls in place lo mikn.gale risks of fraud and non-compliance with laws and
regulations.
To address the risk of fraud through management bias and OVerr￿e of controls, we..
• perfomed analytical procedures lo identify any unusual or unexpected relationships..
• tested journal entries to identify unusual transacb'ons.,
• carried out substantive lesling of expenditure., and
+ used data analylics lo investigate the rationale behind any signif￿ant or unusual transactions.
In response lo the risk of irregularities and non<ompllance with laws and regulations. w8 designed
proc8duras which included, bul were not limited to..
• agreeing accounts disclosures to undertying supporting documentallon-,
• readlng the minutes of meetings of those charged wllh govemance.. and
• enquirlng ol management as to actual and polenllal Iltigation and clalm$,
There are inherent limilab'ons in our audit procedures described above, The more removed that laws and
regulations are from financial Iransaelion$, the less likely it is that wé would become aware of non-
compliance. Auditing standards also limit the audit procedures required lo identify non-compllance with
laws and regulations to enquiry of the Iruslees and other management and the inspection of regulatory and
legal correspondence. if any.
Material misstalemenls that arise due to fraud can be harder to delect than those that arise from error 88
Ihey may involve deliberate concealment or colluslon.
A lurther description of our responsibilities for the audit of the accounts is Ioc8ted on the Financial Reporting
Coun¢il's web811e at www.frc.org.ukjaudiloryJ￿SponsIbl1Its&8. This description forms part of our auditor's
report.
U•0 of our roport
This report is made solely to the charity's trustee, as a body, in accordance with Part 4 of the Charitles
{Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state lo the
charty's Iruslee those matters we are required to slate to it in an auditor's report and for no other purpose. To
ihe fullest exlenl pem)itted by law, we do not accept or assume responsibility lo anyone other than the charity
and the charity's trustee as a body, for our audit work, for this report, or for the opinions we have formed.
Buuacott LLP
Slalutory Audilor
130 Wood Street
London
EC2V 6DL
Date. 23 May 2024
Buzzacott LLP is eligible lo act as an auditor in terms of section 1212 of the Companies Act 2006
Annual Report and Financial Statements 2023
17

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Not08
£000
£000
Income frorn:
Donations and legacies
Charitable activities
Investments
Surplu5 on propety and equipmenl disposal
Other
581
41
1,832
532
36
1,704
Total Incomfr
2,273
Expendlture on:
Raising funds- Investment management Costs
Charitable activities
120
2,110
2,010
Total oxpondlturo
2,230
2,131
Not In¢om• boforn
net galns I1108898} on Inv88tments
Net gains l {losses) on investsnenls
228
1,675
142
16,0531
N•t qoxp•ndltur•l I Income
1.903
IS,9111
Other recognlsod galns and 108sos
Foreign exchange Ilossl I gain on translat￿n
15
42
Mov•m•nt In fund8
1,892
10,869}
Ro¢onclllatloTr of funds
Total funds brought forward
15
62,745
68,614
Total fund• carrled forward
15
64,637
62,745
The above ￿suItS for 2023 and 2022 are derived from continuing activitie5. The Charity has no recognised
gains and losses other than those staled above- according￿, a ststement of total realised gains and losse5 has
not been p￿pa￿,
All income and expenditure is for Unrestricted funds.
The notes on pages 21 to 30 fomi p8rt of these finan￿al statements.
Annual Report and FiDan¢ial Statements 2023
18

DOMINICAN SISTERS ITHIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
£000
2022
£000
Notes
Fix•d •8uts
Tangible assets
Investments
10
3,599
58,410
3,650
69,002
Total fu•d a88•ts
62,009
62,652
Current assets
Debtors
Cash al bank and in hand
Cagh held frir Inve8tment
12
17
17
135
291
2,413
97
276
373
Ll•bllltlo8
Credllors.. amounts falling due wllhin one year
13
12111
(2801
N•t currnnt a••ots
2,628
Total net a¥s•ts
64,637
62,745
The fund8 of tho Charlty
Unreslrlcled funds..
General fund5
Designated funds belng..
Property and equipment
Continuity
15
216
93
3,599
60,823
3.660
69,002
Tol•l Ch•rlty fund8
16
64,637
62,745
The financlal statements We￿ approved and authorised lor Issue by tha Trustee and were signed on Its behalf
on 20 May 2024
A. B. Cunningham
Director of the Trustee
The notes on pag8s 21 to 30 fom part of these financial st8t8ments.
Annual Report and Financial Statements 2023
19

DOMINICAN SISTERS {THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
Statement of cash flow8
2023
£000
2022
£000
Notos
Net Cash (used inl op•raling actlvltles
17
11,5121
11,298)
Cash flows from investing activities:
Dividends and interest received from investments
Proceeds from sale of investments
Purchase of investments
1,818
4,627
16,6081
1,701
3,7S9
(2,391)
11
Net investment inflow I loulflowl
Proceeds from sale of property and equipment
Purchase of propety and equipment
(1631
3,069
10
{ 1361
147)
Not cmh Iu8ad Inl I provlded by Inve•tlng actlvltle8
{ 2961
3,023
Change In ca8h and cash •qulv•l8nt• In th•
rgportlng perlod
Cash and cash equlv•lonl• at tho boglnnlng of th•
r•porting poriod
Change In cash and caih •qulv•lents due to
•x¢hangfr r•to movoment8
11,8081
5,453
1,726
3,686
C••h and ush oqulv•lent• at th• •nd of th•
reportlng period
17
3,634
6,453
Cash and cash equivalents consist ot.
in Current as8ets'.
Cash al bank and in hand
Cash held for investment
In Fixed as8els'.
Cash al bank held wlthin investmnts
17
17
291
2,413
276
930
6,177
3,634
SA53
There is no net debt.
The notes on pages 21 to 30 fom7 part of these finan￿81 staten7ents
Annual Report and Financial Statem8nts 2023
20

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENOED 310ECEM8ER 2023
l Accountlng pollcle$
The principal accounting policies adopted. judgements and key sources of ests'mation uncertainty in the
Preparation of the financial statements are as follows..
88818 of preparatlon
The accounts (financial statements) have been prePa￿d under the historical cost convention with
items recognis8d al cost or transaction value unless otherwise slated in the relevant notes to these
accounts.
The financial statements have been prepared in accordance with Slalement of
arin
their
Recommended Pra¢lice'. Awounling and Reportin9 by Charities applicable lo charities preR 8iic of
accounts In accordance with the Financial Re
FRS 102 second edition issued in
orting Sland8rd a£plicable In the UK aftd
epu
Ireland
ctobei 20191 an
the Financial Reporting Standard
applicab
e in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The Trust eonslilutes a public ￿nalIt entity as defined by FRS 102.
The Trustee considers there are no material uncertainties about the Trust's abilit lo continue as a
loing concern for the foreseeable future, bein
a period of at least a
ear from t
e date that these
nancial statements are signed. The Officers o
the Trustee have consi
lered all the mallers described
in the Trustee's report including the Charity's operations, the impact on voluntary and education
incorne, as well as th8 impact on the Chari
's investment portfolio. In particular, in order lo support
the assessment of the 5UStainabili
of the
harity's aclivilies, the Officers of the Trustee prepared a
highly pessimistic scenario of 700
o of 2023's inv&stmenl in¢ome being received wilhoul an
other
income other than covenanted UK pension5 from Sisl8r5 of the Cong
alion. In the C
particular circumstances there are no alternative scenarios that can reali51i¢a
arity'$
ly be produced to denve
allernalive assumptions for budgeted forecasts. most costs being essentially fixed in nature. As at
the date of signature of these financial statements this pe5simislic lore¢a$t indicates that the Charity
will be able to maintain liquidil for a period of al least a year
and in fact considerably longer) from
the dale of Signature of these
Inancial statements and the O
Icers of the Trustee consider that il is
appropriate to prepare the financial slalements on a going concern basis.
There were no significant judgern8nls or eslimales necessary in p￿paring the financial statements.
Th8 most si9nificant areas of uncertainty that affect the carying value of assets held by the Trust a
the level of Investment return and the performance of inves
ment markets (see the Inveslmènl policy
and performan¢e and risk management sections of the TnJslee'8 Report for more information}.
b)
Fund accountlng
There are no restricted funds. Unrestricted funds affj available for use at the discretion of the Trustee
in furtherance of the charitable objectives of the Charity.
Designated fvjnds are funds which the Trustee has decided at ils discrellon lo set aside for
urposes in the future and form part of the Charity's Un￿strICted funds. The Trustee has I
reallocate such funds within Unlestr￿ed funds.
All income and expenditure is shown In the Statement of Financial Activilwd.
articular
e power
Income
Income (which includes donations and galn on disposal of fixed assetsl is accounted for on
receivable basis as soon as the Charity has enlillement lo the income, there is probability of receipl
and the amount is quantifiable.
Investment income includes dividends receivable, recognised when the share price goes 'ex-div'
which is after a particular company dividend has been declared as payable to shareholders recorded
on the ffjgister al a particular date.
dl
Expendlture
All ex
endilure is accounted for on an accruals basis once there is a legal or constructive obligation
toma
e a payment to a third pa
it is probable that settlement will be required and the amount of
the obligation can be measured re
iably. Expenditure has been listed under headings that aggregat8
all the costs related to that activity.
VAT is irrecoverable and charged as a cost against the activity for which the expenditure was incurred.
Charitable ex
enditure is comprised of expenditure relating to the direct furtherance of the charitsble
objectives.
e￿ costs cannot be direclly attributable they have been allocated to activities on a
basis consistent with use of the resource5.
endilure across the different areas of advancing the Charity's main objective, bein
the Roman Catholic Religion for Public Benefit, is impractlcable. Sisters are engag
locab'on of ex
advan¢ement o
Annual Report and Financial Statements 2022
21

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
NOTES TO THE FINANCLAL STATEMENTS (CONTINUED)
FOR THEYEAR ENDED 31 DECEMBER2023
in many aclivilie5. and each property similarly fulfils different functions.
Allocation of support and govoman¢e costs
Support costs are those functions that assist the work of the Charity bul do not directly und8rtake
charitable activities. Support Costs include back-office costs. finance, personnel. payroll and
overnance costs which support the Trust's charitable work. These costs have been allocated
efften cost of raising fiJnds and expenditure on charitable aclivilies.
Governance cos15 are those incurred in connection with the management of the Charity's a$$els.
organisalional adminislralion and compliance with conslitulional and statutory ￿quIrernents. In the
cir¢umslances of the Charit , lo include an all￿ation of the living expenses of the Directors of the
TNstee (the Congre9alion
rioress and her Council) would be of little benefit in comparison with the
cost of capturing the Information.
The basis on which Support and governance costs have been allocated is set out in note 6.
Co8ts of ral8lng lund8
The costs of raising fvnds consist of investment management costs.
gl
Oporatlng lea808
The Chanty has no operating leases.
h)
T•xatlon
The Trust, Dominican Sisters (Third Orderl ConEregalion of Newcastle Natal established at Bushey
Heath, Herts., 15 a registered chanty and as suc
ils income and gain5 falling within Sections 518 10
564 of the Income Taxes Act 2007 or Section 256 of the Taxation of Chargeable Gains Act 1992 are
exempt from income tax and capital gains tsx lo the extent that they are applied to charitable
objectives.
Tanglble flxod assets Ind d•prn¢latlon
Freehold land and builéings were included for thè first Ilm& in 1995 al deemed c08t. Acquisitions since
are stated al cost. Other tangible fixed assets are staled at cost including any incidental expenses of
acquisillon. The costs of minor additions lo fixnd assets, defined as those costing less than £3,000
{2022 - £25,000) each are expensed in the year in which they are incurred.
Depreciation is provided to write off the cost of tangible fixed assets by equal annual instalmenls over
their estsmaled useful lives as follows..
Freehold land
not de
recialed
Freehold buildings
1010
O years (see following paragraph)
Motor vehicles
- 4 years
Electrical equipment
- 3 years
With effect from 1 January 2018 freehold buildings are split betsveen the Structu￿ and the major
components which require periodic replacement, il being impractical to go back further. The Costs of
replacement Dr restoration of these com
onenls are capilalised and depreciated over the determined
average useful e¢onomi¢ life on a straig
l-line basis as follows..
structure and Other
Kitchens
Bathrooms
Windows
Boilers
50 years
10 years
10 years
10 years
10 years
Flnanclal In8tfuments
The Trust onl has financial assets and financial liabilities of a kind that qualify as basic financial
instruments.
asic financial instruments are initially recognised at transaction value and subsequently
measured at their fair or settlement value.
kl
Flxgd a5Sgt Investmonts
The fair value of listed investments is taken as the closing quoted market bid value. There are no
unlisted investments.
Certain deposits with banks held for their income eaming and monies held by the investment
managers pending investment are included in investments.
The main form of financial risk faced by.the Charity is that of volatslity in equity markets and investment
markets du8 to wider economic conditions, the attitude of investors to Inv8Stment nsk, and Changes
Annual Report and Financial Statements 2023
22

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
NOTES TO THE FINANCIAL STATEMENTS {CoNTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
in sentiment concerning equities and within particular sectors or sub s8Gtors.
Roalisod and unrealised gains and lossè$
All gains and losses are taken to the Statement of Financial Activities as they arise,
mi Forelgn currencles
Assets and liabilities denominated in foreign currencies are translated at the rale of exchange ruling
at the balance sheet dale. Unless individually significant, Iransaclion5 in foreign currencies are
recorded al the average rale for the year. All exchange differences are taken to the Statement of
Financial Activities.
Llquld ro•ourca•
Liquid resources comprlse cash al banks and on hand and are avallable on demand.
Llabllttlgs - Credllorn
Liabilities are recorded in the finanGial ststemenl¥ when the Officers of the Trustee have made a
Commitment to 8¢9uire goods or services. The amounts are e5tablishel by consideratlon of individual
unpaid fvlure liabilities existing In respect of the reporting year.
Logal status of the Trust
The Trust is formally established by a Trust Deed dated 20 January 1953, a8 varied by the provlsions of a
Scheme sealed on 4 May 1995, and is a registered charity in England and Wales - Charity Registration
No. 233236.
Incom• ffoffl donatlon•
Incorne from donation8 and legacies comprises.,
2023
2022
£000
£000
Covenanted salariès, sliptnds and pensions from Sisters
Other donations and gifts
(No legacies received)
$67
14
524
681
532
Income from charltable acllvities compris85.'
2023
2022
£000
£000
Donalions for educational facilities
41
36
Inve8tmont Income
2023
2022
£000
£000
Interest reGeivable
DivN4ends receivable
308
1,024
280
1,832
1,704
Al dividends were eamed on lisied investments.
Annual Report and Financial Statements 2023
23

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
NOTES TO THE FINANCIAL STATEMENTS ICOMTIMLIEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Geographlcal analysis of total income and expendlture
2023
2022
£000
£000
Incorne..
UK
Other
2.427
31
2,249
24
Total
2.458
2,273
endituffj..
2,157
73
2,053
78
Other
Total
2,230
2,131
Analy818 01 oxpendllure on charltable actlvltlos
Gengral
support
2023
GoverD•n¢•
r•latod
Total
2023
Totsl
2022
£000
£000
£000
£000
Staff costs total a9 below
Property costs
Other community costs
Professional fees and bank charges
statutory audrt fee
Other charitable projects
108
767
100
708
1.050
37
787
1.111
57
57
33
34
33
71
2,062
48
2,110
2,010
Basis of apportionmenl..
Staff cost allocation lo govemance is based on a reasonable approximation of the lime Involved. All other
costs are the costs borne. Alocation of expenditure across the different areas of advancing the Charity's
main objectivè is impractubla as Sisters and convents are involved in all areas.
General
Gov•man¢o
support
related
2022
Totsl
2022
£000
£000
£000
Staff costs
Property costs
other community costs
Professional fees aTrd bank charges
statutory audit fee
Other charitable projects
86
708
1,050
37
14
100
708
1,080
37
71
71
1,952
2,010
Annual Report and Financial Slatements 2023
24

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
NOTES TO THE FINANCIAL STATEMENTS {CoNTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
7 staff costs
2023
2022
£000
101
£000
93
Wage$ and salaries
Social security costs
Pension costs- defined contributions
108
100
The Trustee considers its key management personnel to comprise the Direclors of the Trustee (wh
include the Sister Bursar), the General Bursar and the Finance Manager.
The Directors of the Truslae are the Congregation Prioress and the Congregatlon Councillors. As Sisters,
their living expenses were borne by the Charity. The Directors of the Trustee received no remuneration or
other benefits in COnn￿t￿n with Iheir duties for the Trustee or oth&rwis8 during the year.
The employee benefits, including employer's contributions, of the General 8ursarand the Financ8 Manager
tolalled £105,88012022.. £96,438)
One employee recelved employee benefits in th& band £60,000 to £70,000 in the year12022'. above
£80,000- none).
The average headcount of employees, all of whom were engaged in charitable activilies, during the year
was 312022.. 31 However, they equate to 1 12022. 11 full time employee
Net Incomo b•forn othèr rècognl••d galn$ •nd lo••e•
2023
202
£000
£000
Net Income beforo other recognl8•d g*ln• and 10•8M l• stst•d
aft•r ¢h•rglng tho followlng:
Auditors, remuneratson..
Slatulo
audit
Oeprecia
ion
33
187
44
173
Relaled party hnsa¢llon8
As members of the Congregation, none of the Trustees have resources of their own as all earnings.
pensions and other income has been donated lo the Charity under Deeds of Covenant. During the year,
the total amount donated by the Trustees to the Charity was £22,18512022. £25,818).
There were no other related party transactions requiring disclosure in the y&ar12022 none).
Annual Report and Financial Statements 2023
25

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
NOTES TOTHE FINANCLAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
10 Tangible fixed assets
Flxturos,
fittings and
equipment
2023
Freehold land
and bulldings
Motor
vehicles
Totsl
£000
£000
£000
£000
Cost
Al 1 January 2023
Additions
Disposals
6.587
103
123
15
(28
,710
136
{ 281
18
Al 31 December 2023
6,690
110
6,818
Depreelallon
Al 1 January 2023
Charge for the year
Disposals
2,939
175
3,060
187
{ 281
At 31 December 2023
3,114
3,219
Net book value
Al 1 January 2023
3,648
3,650
At 31 D8Gember 2023
3,576
12
11
3,699
All tangible fixed assets relate lo di￿¢1 charitable purposes.
On 31 December 1995 the Trustee included freehold land and buildings at eslimaled replacement cost
using a proportion of insured values as the basis. Cost above comprises the deemed cost of those original
buildings still held plus subsequent additlons. The ourrent insurance declared value is £17,136.000 (2022..
£16,637,000).
11 Inv••tm•nt8
2023
2022
£000
59,002
6,608
14,6271
1.876
£000
64,654
2,391
{3,759)
{6,0531
Carrying value {being market bid value Including cash) at 1 January
Additions at cost
Disposal proceeds
Net inveslmenl gains l {lossesl
62,658
14,2481
57,233
1,769
Change in cash al bank held wiihin investments
Carrying value Ibeing n￿rket bid value including cash) at 31 Oecemb8r
58,410
59,002
Annual Report and Financial Stslements 2023
26

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
NOTES TOTHE FINANCIAL STATEMENTS ICONTINUEOI
FOR THE YEAR ENDED 31 DECEMBER 2023
L15ted Inve$tment8:
UK fNed interest
UK equity shares
Investment trusts
Unit trusts
Overseas fixed interest
Overseas equity $haras
8.270
26,647
1.015
2,350
7,020
26,259
2,242
1,570
16,734
17,657
Market bid value at 31 December
Cash at bank held wlthln Investments
57,480
930
53.826
,177
Carrying value {being market bid value) at 31 December
58.410
59,002
Historical cost at end of year excluding cash
Cumulative unrealised investment gain
38.798
18,682
36,207
17.618
Carrying value {being markel bid value) at 31 Decembèr
67,480
53,825
No investment xcounled for more than 5% of the total market bid
value
12 D•btor8
2023
2022
£000
£000
Prepayments and accrued Income
135
13 Crodltorn
2023
2022
£000
£000
Amounts falllng duo wlthln one year
Taxation and soci81 security
Accruals
207
278
280
14 Cipital Commltments
2023
2022
£000
£000
Contracted for but not provided in the accounts
Annual Report and Financial Statemgnts 2023
27

DOMINICAN SISTERS (THIRD ORDERI CONGREGATION OF NEWCASTLE NATAL
NOTES TO THE FINANCLAL STATEMÉNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
15 Statement of change in ro8eNes
8¥lan¢o
brought Transfe
forward
Nat
Exp•ndltur• Investmont
galn¥
£000
Foreign
èxchange
dlffergnc
Balanc•
earrled
for4¥ard
2023
In¢omo
£000
£000
£iJoo
£000
£000
£000
Unrestrlcted
Inc¢)m• fund$
Genar81 fund$
D8signat8d
funds
Property
and
equipment
Conllnulty
93
11.7701
2.458
{2,230)
1,675
215
3,650
1511
3,599
59,002
1,821
60,823
Total
unre8trl¢l•d
fund•
62.745
2.4S8
12.230)
1,675
1 11)
04,637
Balance
brou9ht Trnn•f•M
forward
Net
Exp•ndltur• Inv•otment
108••8
F¢r•ign
•xchango
dlff•r•nc••
BalanG•
carrl•d
foThvard
2022
Incom•
£000
Eooo
£000
£000
£000
£000
£000
UnrMtrlct•d
Incom• fund•
General fund9
Oesignot8d
funds
Prop•rty
an¢J
equipmenl
Contlnulty
184
5,778
2.273
12.1311
16,0631
42
93
3,778
11261
3.660
64,654
16,6621
59.002
Total
unre•trlct•d
lund•
e8,814
2.273
12,1311
16.0631
42
82.745
De8lgnatgd and undesSgnatod funds:
The designated Propety and equipment fund is 8slablished to rep￿sent the unrestricted tangible fixed assets
of the Charity. 11 is the same amount as the Fixed assets- Tangible assets In the Balance sheet.
The designated Continuity fund is established to show the extent lo which funds are required lo be retained
to provide the basic financial structure to earn income to meet future expenditure. It is the same amount as
the Fixed assets - Investments in the Balance sheet and accordingly includes the cumulative unrealised
investment gain.
The undesignated General funds are the same amount as the Net current assets in the Balancè sh8et.
Transf•rs:
Transfers recorded above are to or from the PToperty and equipment designated fund and lo or from the
Continuity fund and from General funds arising in the respective year.
Annual Report and Financial Statements 2023
28

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
16
Analysls of not assets botween funds
2023
General
funds
Designat•d
fund8
Total
fund8
£DOO
£000
£000
Fund balan¢e¥ at 31 De¢ember 2023 a
represented by:
Tangible fi'xed assets
Investments and cash for investment
Other current a55e15
Current liabilitie5
3,599
60,823
3,599
60.823
426
1211)
426
(2111
Total nat a880ts
215
64,422
64.637
Unreall8ed galn8 Included abov•
On investment assets
18,682
18.682
2022
G•n•ral
fuTrd•
De•lgnatod
funds
Total
fund•
£000
£000
£000
Fund balance8 at 31 December 2022 aro
representgd by:
Tangible fixed assets
Investments
Current assets
Current liabilities
3,650
59,002
3,860
69.002
373
1280
J73
1280)
Total nèt a88•ts
93
62,652
62,745
Unreallsed galns Included abov•
On investment assets
17,618
17,618
17 Cash Ilow Informatlon
al Reconclllatlon of n0t1oxp•ndltur•l I In¢om• to net cagh outhow from operatlng actlvlti
2023
2022
£000
£000
Net income l (expenditure} for the reporting period
Adjustments..
(Gain) on sale of property and equipment
(Gainll loss on investments
Investment income
Oepreciation
Ilncreasel in debtofs
(Decreasell increase in creditors
1,904
15,911)
( 1)
6,053
11,704)
173
{ 2)
94
{1,6751
{1,8321
187
1241
{ 691
Net cash loutflow) frorn operatlng actlvltles
(1.512)
11,2981
Annual Report and Financial Statements 2023
29

DOMINICAN SISTERS (THIRD ORDER) CONGREGATION OF NEWCASTLE NATAL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENOED 31 DECEM8ER 2023
b) Reconclllatlon of net cash flow to movement In net funds
2023
2022
£000
£000
(Decrease} I In¢￿ase in ¢a$h in the period
I1￿08)
1,725
Movement in net funds in the period
Foreign exchange translation differences
Net funds brought fo￿ard
11,8081
{ 11}
5.453
1,725
42
3,686
Net fund8 carrlod foThvard
3,634
5,453
Belng:
Cash at bank and in hand in current assets
Cash at bank held within investments
291
3,343
276
5,177
3,634
5,453
e) Analys18 of net fund•
At1
January Cash flow
2023
Forolgn
exchangg
dlffèrenco•
At31
Do¢ember
2023
2023
£000
£000
£000
£000
Cash
and
equivalents
cash
5,453
{1,8081
{ 11)
3,634
At1
J•nuary Ca•h now
2022
Forelgn
•xchang•
diff•ron¢e•
At31
Do¢omber
2022
2022
£000
£000
£000
£000
Cash
and
equivalents
cash
3.686
1,725
5,453
Annual ReFort and Financial Statements 2023