Charlty R&gl$tratlon No. 235342
THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
LSL/
JES

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
LEGAL AND ADMINISTRATIVE INFORMATION
Delegated Councillor and Trustee
Sister Hilary Brown
Trusteas
Sister Eileen Ryan
Sister Mary MoLoughney
Sister Nora Mary Ryan
Sister Kathleen Curran
The trustees are appointed by the Delegated Councillc*r.
Charlty number
235342
Principal address
Ursulines of Jesus Administration
Stella Maris Convent
Ealon Crescent
Swansea
SA14QR
Auditor
Greaves Wesl & Ayre
17 Walkergale
BeNllck-upon-Tweed
Northumberland
TD15 1DJ
Bankers
Royal Bank of Scotland
Solicitors
Polhecary Wilham Weld
84 Eccleston Square
Pimlico
London
SW1V 1PX
Investment advisors
U.B.S. Wealth Management IUKI Ltd
2 Sl. James, Gale
New¢aslle upon Tyne
NE4 7JH

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
LEGAL AND ADMINISTRATIVE INFORMATION
Investment powèrs
The trustees carry out their responsibilities in connection with safeguarding the
investments of the Charity under the power given to them by virtue of slalule.
They have drawn up an investment policy in acc(>rdance ¥Mth Charity
Commission guidelines and have delegated discretionary investment
management to their managers. The Iruslee5 mtsniloi the performance ol the
underlying investments as well as their Investment managers.
Governing documents
Registered charity governed by its Trust Deeds of 1939 and 1965 as amended.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
CONTENTS
Page
Trustees. report
Statement of Iruslees, responsibilitie5
22
Independent auditor's report
23-26
Statement of financial a¢livilies
27-28
Balance sheet
29
Stalernenl of cash flows
30
Notes to the financial statements
31-45

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Iruslees present their report and financial statements for the year ended 31 December 2023.
The accounts have been prepared in accordance with the accounting policie5 Set out in note 1 to the accounts
and comply with the ¢harily's Trust Deeds, the Charities Act 2011 and 'Accounling and Reporting by Charities..
Statement of Re¢ommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021° leffective 1 JanL)ary 20191.
A proportion of the legal and administrative information required lo be disc105ed within this report can be found
elsewhere on the Administrative Details pages of these financial slatement5.
Introduction
The Congregation of the UrsLJlines of Jesus is an international religious order founded in 1802. Our total number
of sisters now stands al 388. this indudes 12 novices. The congregation 15 divided into seven Missionary
Realities with France and ltsly forming a single Reality. Within the United Kingdtsm and I￿land IUKIIRLI
Missionary Reality there are currently 31 sisters living in 5 communities.
The Charity is administered by our Sister Coordinator appointed by our Superior General, and her trustees, who
are appointed by our Superior General after consultation with the Coordinator. The trustees consult with the
Sister Coordinator whts is responsible for the government of the Missionary Reality in Carrying out the Charity's
work.
After consultstion with their legal advisors the decision was taken lo update the constitution in September 2009.
The Tru51ee Body now consists of the Sister Coordinator and 4 other sisters, one of whom is the bursar and
another a member of the Finance team.
GOVERNANCE. STRUCTURE AND MANAGEMENT
Governance
In terms tsf Canon law, the Congregation is governed al an international level by the Superior Genwal and her
CounGil in Paris. France. They are elected every five years at a General Chapter meeting of represenlats'ves from
all seven Missionary Realities.
In preparation for the General Chapter of 2010 as a Congregation we became more awa￿ of lrfe in the differenl
provinces and regions and the evolub'on of our $latislics. All of this urged us lo look al the structures with a view
to necessary changes for lrfe.
As already stated in previous trustees reports in the general chapter of 2010 a decision was taken to change our
structure.. suppressing the provinceslregions and entrusting to the General Council, which consists ol the
Superior General and her council, the animation and government of the '8ody Congregation, as a whole. The
term now given lo the different missions is.. Missionary Reality.
Following the time of ad experimentLJm from 2010 to 2022, the General Chapter which took place in June 2022
I￿0 years late due Its COVIDI look the definitive decision lo accept this new structure and received approval
from Rorne.
The UKIIRL Missionary Reality is governed by the General and her council. They appoint a sister as coordinator,
currently Sister Hilary Brown, who has responsibility for the animation and accompaniment of the UKIIRL
Missionary Reality.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Governance Icontinuadl
The Coordinator is required to visit each comrnunily every year and throughout the year there is a system of
accounlabilily, operational throughout the Reality lo ensure that the Coordinator and the Tiustees are aw3re ol
the progress and development of the ministries carried out by the sisters of the Reality. A visit by the Superior
General is made lo the UKIIRL Missionary Reality al least once every five years.
In terms of civil law. the charity is governed by ils Trust Deed 1965. amended by the Charity Commission
Schemes dated 1972, 1978. 1996. 1997 and 2007.
The Charity Trust Deed states that the property and income is held UPON TRUST to apply the same either as
apilal or income lor such charitable purposes a5 shall advance the religious and olh&r charitable work for the
lime being carried on by or under the direction of or with the support ol the Society as the Trustees with the
approval of the Superior Geneml shall from time-lo-lime think fit.
The Sociely. as defined in the Trust Deed, refers to the Congregation as a whole. In practice, the Charity
advances the charitable work of the UKIIRL Reality, although at the same lime il supports the Congregation's
headquarters in Franee and Ils other overseas branches.
As the Irustees are member5 of the Congregation, they have a detsiled knowledge of the Charity and rts
slruclure.
Throughout 2023 trustees where possible, made use of various webinars lo update Ihefflselves regarding trustee
training and changes in the Charity Law.
Our annual meeting ol the Association of Piovincial Bursars in October 2023, was once again a face lo lace
gathering al the Hayes Conference Centre. led by expert5 In the field of finance, civil law and climate change.
All the trustees. when possible, attend the meetings on investments with UBS and receive financial reports from
Greaves West & Ayre.
Those meelings a￿ a very good Source of information and keep the Iru51ees up lo dale with current financial
changes, particularly important in this time of uncertainty wth the continuing war In the Ukraine. Pale51ine and
the impact on the e￿noMY.
Trustees are kept inlomied by financial experts in UBS of current financial movements and the need for clear
sliategies in investing.
Trustees
The trtjstees who Served during the year were".
Sister Hilary Brown
Sister Eileen Ryan
Sister Mary McLoughney
Sister Nora Mary Ryan
Sister Kathleen Curran

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees l¢ontinuèdl
Sister Hilary Brown graduated from Liverpool University and laught al Primary level in Liverp(x)I, Edinburgh.
London and Swansea. Following on from this she worked in a wide range of Pastoral services in Scotland,
Canada and Jersey. Hilary was provincial of the UKllreland province from July 2008 to March 2011.
Elected on lo the General Team in August 2010 she was nominated as Delegated General Councillor lo
Cameroon and in September 2013 was nominated as Delegated General Councillor for the UKllreland
Missionary Reality. IAppointed as Trustee on 1 September 20131.
Sister Mary M¢LoughnÈy after ¢ompleling her Teacher's Training laught in the private and public sector for 25
years. She has followed courses in self-development. professional and religious development. She was ¢o-
ordinalor in school and parish based sa¢ramental preparation.
Sister served on the Province leadership team from 1996 10 2002. Since 2002, She has been working in various
parishes a5 parish sister. IAppoinled trustee on 23 September 20081.
Sister Eileen Ryan is a Registered General Nurse anLI trained Midwife. She spent many years in a remote
rnission slalion in Bauohi. Nigeria and worked as a community nurse with Haringey Primary Health Care trust for
a number of years. She is a member of the Finance team. (Appointed trustee on 07 September 20091.
Sister Nora Mary Ryan spent most of her nursing years as nurse and midwife in a Rural Matemity and Hea￿￿
Centre in Nigeria On her return $he trained in Palliative Care and worked in a London hospice. Lat¥ having
trained in Ignatian Spirituality she worked in Ireland in a Retreat Centre after which she worked as chaplain in
Swansea University. In 2002 she became leader of our Province for six years followed by another six years
working in the area ol spirituality in a Diocese. IAppointed trustee on 11 May 20161.
Sister Kathleen Curran trained al Royal Infirmary Edinburgh as a registered General Nurse followed by further
training course in Theatre Nursing. In 2002 she had a ¢hange of ministry training as a SPRED catechisl ISPe¢ial
Religious EDucalitsnl, as 8 Spiritual Dire¢lor in 2004. then Diploma in Chaplaincy in 200718. Today her ministry is
In Spirrtual Direction, SPRED as well as parish work especially in developing and leading people in their prayer
In September 2020 Kathleen was appointed Bursar for the Reality (appointed trustee on 13 November 2018}.
STRUCTURE AND MANAGEMENT REPORTING
The Iruslees are ultimately responsible for the policies, activities, and assets of the ¢harity. Various groups ol
trustees meet regularly and there is a formal rneeling of all the Iruslees three Iimtts a year. Vvhen necessary, the
trustees seek advice and support from the charity's professional advisers including property consullanls,
investment managers, solicitors, and accountants. The day-to-day management of the Charity's a¢livilies and the
implementation of policies is delegated lo the appropriate members of the Congiegalion.
The Finance Tearn are represented al all finanGial meetings, b(>th internal and extemal, including accounting and
audit ffleelings, as well as Investments meetings. Assisted by the Missionary Reality accountants they prepare
individual, Community and provincial management accounts and forward projections. Communities are based in
England, Scotland, Wales and Southern Ireland

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
WORKING WITH OTHER ORGANISATIONS
In ministry, we see the Importance of collaborating with others, networking with organisations, working together in
favour of life. solidarity, and justice, sharing our experience, our expertise, and looking al how we can be more
efficient In responding lo present day needs. As our average age increases and with less sisters available for
active ministry, we are more than ever conscious of our need to collaborate with others.
Organisations-
Justice and Peace
Fairtrade
Sl. Vin¢enl de Paul Society
Prtsjecls for the homeless
Local organisalions in the areas where we are based.
Church based groups.
Collaborating with groups involved in safeguarding ¢hildren and vulnerable adults.
Diocesan based groups.. Catholic Vocation projects
Spiritual SupportlDirection
RISK MANAGEMENT
The Iru51ees have looked at the risks the Congregation curfently faces in the Missionary Reality and have
reviewed the measures already in place, or needing to be put in place, to de31 with them. The Iru51ees believe
that by monitoring reserve levels and by ensuring controls exist over key financial systems that all material risks
have been identified and miligaled.
ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES
'Spurred on by the love of Christ we look at the pressing needs of our lime in order ttr be al the service of the life
and growth of Individuals and groups. (Constitutions of Ursulines ol Jesus).
"The Vvord becarme flesh and dwell among us" Jn 1'.14. This wonderful news of the love of Gtsd who reaches 811
people enlightens and transforms our lives and we wanl to communicate this to our brothers and sisters.
{Conslilulions of Sisters of Immaculate Conceptionl.
We a￿ also aware in our choice of ministries of our responsibility to work for Public Benefit and to be available
when possible wherever life is threatened.
In oui General Chapter 2022 we reflected together and discerned what God wants of us today. taking
orientstions for the next five years until Chapter 2027. We continue to listen, to be aware. and to eollaborale with
others so that we can foster relationships that respect the dignity of each person, caring for and protecting life
and our common hotne.
We in our United Kingdomllreland Reality tske a realistic look al the changes over the past years..
diminution in numbers. aging. illness but also al the energy and determination to commit ourselves to keeping the
flame alive that burns within us. to be aware of what is happening around us and where possible to be ready to
go out lo meet the other wherever life is present and needy.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
In determining where and how we commit ourselves we 9ive priority..
to all that may further the dignity, health, and education of human beings
to all that helps in the eslablishmenl and growth of Christian communities and lo fostering inlerfrdilh
relationships
lo our sociallpasloral work
to networking with groupslorganisations who are working for a more ju51 society.
These priorities are expressed in different ways..
in education of children and young people and financially supporting organisations working for
disadvantaged youth
in the formation of adults and the social advancement of women
in the ¢are of the sick and the elderly
in the service of the Church, in collaboration with laity
in our responsibility lo each other espe¢ially our senior and sick sisters.
in other forms of ministries ￿quired by current needs.
In all these, we have a constant concern for people mosl in need and those on the margins of society. We
dis¢ern our ministries and search where we can best be al the service of the pijblic in response to the new laws
ol the charity commission.
Our outreach goes beyond our hornes, touching and being touched by the lives of many. There is a continual
awareness of what is happening, where the needs are. but also an acceptance of our limitations given that our
average age is 83.5 years, while remaining full of hope for the future.
Activitie5 and specific objectives
As stateLI under Mission the aclivilles of the Charity Can be divided into three main areas.
lal Caring ftsr the members of the Congregation.
Ibl Social and Pastoral work
Icl Missionary involvement.
Caring for members ofthe Congregation.
In common with many religious ¢ongregalions in United KingdomllRL, the age profile of the members of the
Congregation is increasing as existing members grow older and the number of new vocations becomes minimal.
The age profile of the Congregation in United KingdomllRL is shown graphically below".

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Caring for members of the Congregation Icontinu¥dl
25
15
io
The Congregation has an obligation, both moral and legal to provide ¢are for ils members. none ol whom have
resources of their own and all Df whom have devoted a significant part of their lives lo edu¢alion. nursing,
pastoral work, and care of the poor and marginalised in society.
As the age profile of the Congregation increases so too does the need to provide in¢reasing and irc￿¥$1ng[Y
expensive care for the sisters.
Administration
To ensure the smooth running of the organisalion many sisters are involved on a day-to-day basis in
administration. This is on a voluntary basis, and includes finance, secretarial work, archives, and translating.
Many hours are still being spenl in Iranslab'ng the writings of our founder Louis Marie Baudouin in view of finally
printing his numerous letters.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Stella Maris Convent
Stella Maris Convent, Swansea which was r&buill ac¢ording lo Care Standard Regulations suitsble forthe care ol
our elderly sisters was opened in 2005. As time went on, we have needed the help of more trained lay stsff,
which naturally has had a knock-on effect on our financial resouices.
During 2012 to comply wth the law in South Wales. steps were tsken to register Stella Maris as a Care Home
and to appoint a Care Manager. Policies were drawn up and changes were made to meet the regulations
requested by Care and Social Inspectorate of Wales and a Care Manager was appointed and ComMen￿d dLrties
on 1 November 2012.
Stella Maris was officially registered as °Stella Maris Convent & Care Home" on 12 March 2013. Being registered
permitted us lo adrllil 24 clients some of wh(>m were Service Users who are not members of the Congregation of
the Ursulines of Jesus. Financial costs were met in part by income ieceived from these residents.
In 2021 we made the decision to carry out a review of Stella Maris Care Home. We employed a Human
Resource expert and a solicitor with expertise in this fi'eld to work with three of our Iruslees. Staff were consulted
and their advice sought throughout the process. The decision was made to decrease our registered beds from 24
to 12 which was approved by Care in Wales.
This meant a decrease in staff numbers wth most taking voluntary redundancy. By September 2021 the new
structure was in place and at the end of October a new manager was appointed who took up post on 1
November 2021.
At the end of 2023 there was one lay resident.
As the year closes. Stella Maris Convenucare Hc*me is home lo a communty of 20 sisters. Eight of the sister5
live in the registered area together with one permanent lay resldenl all of whom are cared for by qualified staff as
required by CIW.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Stella Maris Convent Icontinuedl
Because of the incieased vulnerability and health issues of several of sisters more demands are made on the
stsff and the active member5 of the community. The sisters spend quality time each day wilh the sisters in care,
listening lo their Stories, somet￿me5 being a container for their distress. One sister who has come lo the
c()mmunity says, 'Now, I live here in the grounds of Stella Maris wlh my sisters. I have gradually settled into
another way of being and living. I believe we are all on a journey together. I feel called lo live my mission with joy,
¢ompassion and hope here with my 51slers and all whom l encounter on a daily basis,.
Some of the sister5 continue visiting the elderly and the sick in their homes. One sister still heips with the
university students
Sister Hilary Brown Is the Responsible Individual for the Care Home. She visits and prepares a report for the
trustees every three months.
Famlly of the Incarnation
Following Jesus, Word Incarnate. we want lo live. shale and promote the spirilualily of the Incarnation." il is our
great treasure, the gift we can make to the wodd, the sour¢e of our identity.
Missionary project of Congregation 2000.
As an Inlernalional Congregation we continue to share our Charism with lay people and to involve them in our life
and ministry. In 2005 the Family of the Incarnation was launched and since then a number of lay people in the
UKIIRL Reality have committed themselves as members of this family and meet regLJlarly with the sisters to
deepen their Christian commitment and be wf(nesses in the areas where they live by their way of life and
mission.
When the need arises, they respond by giving of their lime and expertise and work with the sisters in their local
area, responding to needs and being involved In parish aclivilies.
Lay members are increasingly encouraged l(> lake on responsibilrty within their groups and ne￿Ork with the other
groups throughout the Family. Our four groups are now back lo meeting lace lo face after the COV5D pandemic.
We continue to come together as family lor prayer and support by zoom four limes a year.
Social artrd Pastoral work
The extent of the involvement of the sisters in social and pastoral work is outlined later in the Report. Details are
given of the diverse ministries which are mostly voluntary.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Misslonary Involvement
"Lel us open our ej'e5 10 see the mtseTh' ID our world,
Ihe n'QUDds of so maDI' of our brotkner5 and 5iSter5
dtprii'ed of diEnlt}- aDd lel 115 fttl coL¢erned th order
10 beir (helr talliD% oui for help,
Pw FraW￿ (Tbt Fjce of Iler¢¥')
Since we are an international congregation wlh sisters in the developing wodd, we a￿ alert lo needs as they
arise and respond to projects submitted to U5.
Since th¢ fusion wth the Sisters of the Immaculate Conception in May 2016 Madagascar has become a new
Missionary outreach as many of the sisters, now Ursulines of Je5U5, minister to the poorest people in their
country. Their work is in education al all levels, fomiation tsf young girls and women, prison work, supporting
families through serious illnesses and enabling poor people with hospital admissions. working wth children of the
streets and wherever there is a need. The Missionary Reality of UKllreland sponsor projects in marginalised
areas.
Throughout 2023, we continued lo support the Formation of our sisters in Cameroon and Madagascar. All the
communities contribute lo this mission fund and it is our way of helping the sisters to be formed and then lake on
ministry, thus helping Ihern with finan¢¢ in a difficult financial climate.
Each year the International Solidarity Commission meet with the International Finance team and di*ern
together. using criteria. as lo what projects are accepted for funding. As a Missitsnary Reality we see where we
can respond, and we ¢hoose projects where our sisters are present and thus we can monitor the progress of the
projects.
In Cameroon we contributed lo several piojecls where we helped women organize themselves into a cwperalive
to meet the food needs of their families and market their products. We helped many displaced persons and help
to educate their children.
This year we supported a proje¢t in Yaounde Cameroon called Fresh Start Empowerment, whose project is
training in mushroom cultivation and setting up mushroom beds for young mushroom growers.
"GET A JOB frotn association Fresh Start Empowerment -FSE-, due lo ils sustainability and adaptability to a
variety of disabilities and socio-economic situations. This activity, which can be Carried out al home, enables a
first harvest a month after sowng, offering a rapid cycle for return on investment.
The overall aim of this project is to create an income*enerating activity lor vulnerable girlslwomen and people
with disabilities by providing them with the guidance and support to set up their own mushroom farm.
To achieve this goal, Fresh Start Empowerment has partnered with the GIC CHAMPIGNON" trainer. who has
over fifteen years. expertise in the se¢lor. The initial kn-day training course enables the first mushrooms lo be
produced.
Leamers then benefit from follow-up. $UPPOrt, and financial support through the association until they are
completely seK-sufficienl.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Mi$slonary Involvement Icontinuedl
In Madagascar this year there has been the need for essential medication which we take for granted. Our
sijpport has helped lo purchase the medication which in turn has enabled children to go to school.
In one senior school which has a role of 1,020 pupils we have helped in the purchase of computer equipment
and electrical inverters which allows Will aGce5s for teaching
VVA
t*A
Jix
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•ttyJ
OIKOr:REDIT
We are happy that for the past 20 years we have invested in Oikocredil and we see by their reports how people
have been empowered to improve their livelihoods. This is an organisalion which helps people, mainly women. in
very poor countries who are not eligible for a bank loan to get enough capitsl to start proiecls. This enables them
to support themselves and their families and restore their dignily. To date we have invested É40,000.00 in
Oikocredil. Oikooredil tells us that the social impact it makes on low-income communities would not be possible
wilhoul our support.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
Review of Ac
This section reviews some of the achievements of the Charity during the year.
Public Benefit
The trustees have received and read the guidance dc)cumenl on Public Beneh't. issued by the Charity
Commission, and have complied with the duty in section 4 of the Charities Act 2006 to have due legard to that
guidance.
Historically, the work carried out by the charity wa5 always considered to be of benefit to the public, pa￿'cularlY
where il was involved in providing free education and health 8$ well as a range of other support seNices and
care for those in need. Under the Charity Commission s definition of Advancement of Religion, the objectives of
the charily and the achievement of those objective5 comes under g￿ater scrutiny.
In a¢cordan¢e with its mission and its charitable objectives, this section of the annual report of the trustees
demonstrates just how the members of the charity, through ils sisters in a number of communitie$ across the UKI
IRL, live their lives at the service of others working for public benefit and common good.
mb
Throughout the year the Charity continued lo assist the members of the congregation in their religious life and
mission.
As we look at our realities and pressing needs of our time, we continue lo respond in as far as we are able, ever
conscious ol the most vulnerable in our society.
SAFEGUARDING OF CHILDREN AND VULNERABLE ADULTS
"Ever since God beGam& man, we meet with him in every htjman face"
UJ Book ofLif& No 33
The Irv$lees recognise their responsibility in ensuring that all the sister5 are commrtted to the health, safely and
wellbeing of all children and vulnerable adults in their care. They realise the Importance of followng the policles,
procedu￿$ and guidelines for safeguarding in the dioceses where they are missioned.
All sisters in ministry and employees obtain certificates, for example from the Disclosu￿ and Barring Service
There is a named sister responsible for safeguarding issues in each of the following countries.. England, Wales,
Scotland. and Ireland. They understand the importance of keeping up lo date by attending training workshops.
During 2023 we kept abreast of changes that were taking place in safeguarding, most especially in England,
Wales and Scotland. We are updating our policy on safeguarding in line with these changes.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
Small Missionary Presen¢e$
We allow ourselves to be impregnated by the Word of G¢xl. This is our centre, that which unites us and sends us
out.
"Go out to the vthole world and preach the Good News"
We see our communtiies as small mi55ionary presences, open to the needs of today and living in collaboration
with others.
Living in this way is being faithful to the intuition of our founder, Louis Marie Baudouin who, in 1802 brought
together a group of women lo help rebuild the church in France after the French Revolution.
Two of his sayings continue to have meaning for us today..
"Take this century as the revolution has brought il forth" and
Women could do much in this great work".
Since our fusion with the Sisters of the Immaculate Conceplion in May 2016 we have become aware of the
spiritual intuition of their founder, Pere Pécol and his emphasis on reaching Out to the most marginalised in
society.
Over the years we. members of the family of Louis Marie Baudouin have tried to take each centuryleach age with
its challenges and calls. adapting and responding, when and how we could. As women, yes, we feel we have
gifts to share and continue lo share them wlh those whose lives we touch.
Taking this 21st century with its Challenges our sisters continue our story wherever they are sent.
'Called together by the Spirit of the Incarnate Word we are sent out to live in Community among a parti¢ular
people. in a particular part ol the Church.. Constitutions no. 42.
'In the midst of the world, we are called lo a life of adoration of Ihe Word made Ilesh, * the setvice of our
brothers and sisters.. Conslilutions no. 32.
Our desire is to continue in Ministry for as long as possible. In preparing this Trustees Report we reflected on
Who benefils from our work. what impact have we had and How their lives and society as a whole are changed
through our involvement.
The folSowing hopefully gives some insight into answering these questions.
12-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
Who b&n8fited from our ministries in 2023 and how it can change their lives.
As in previous years. on reflection we note one group who benefited stands out in particular and that is the
èldèrly and housebound. The elderly in our society are often marginalised, lonely and isolated and never more
so than during the current pandemic.
Through involvement in their parishes our sisters, now of retiring age. reach out to the elderly in various ways.
Among othèr groups who benefit are the disadvantaged in society, those who are unable lo cope, the
homeless, the unemployed, ever on the increase. We have always responded lo the needs of the homeless
where possible.
Therg aro disadvantaged people in all areas where we are inserted and our sisters who work in
collaboration with others are aware of their needs and respond when possible.
In London, our community in Bethune Road, Stamford Hill, Sister Kathleen Roberts continues lo reach out to the
housebound who a￿ elderly and vulnerable in their own homes as well as visiting Care Homes. Visits are always
welcome as so many elderly people live alone. She is a listening ear for carers as well as she recognises their
lack of numbers bul their quality of care.
Sr Agnes conb'nues in small measure vocats'on ministry with accompaniment for young people on a one-to-one
bagis. She has had to step back from more involvement as she is now the reality secretary which lakes up a
great deal of her time.
As a community they have been able lo join wth their Parish and help financially to look after the homeless. They
attend parish meetings, involving themselve5 in the pansh outreach They take time to meet, greet and chat ¥Mth
those they meet on a daily basis. Their door is always open to parishioners and neighbours who call in for
chal..
Our sistars in Swords, Ireland, despite their own fragility continue their involvement in parish life through the
Vincent de Paul society, the Legion of Mary, and the Bereavement Team. They are able lo offer support with
food. clothing and finance where necessary as well as 5Plritual well-being. They visit the elderfy and sick in their
own homes.
Their school support for the Sacramental preparation of the children continues in both the local schools.
The sisters say, 'Through our living our spirilualily. our Irust in God and willingness to help others we continue to
live our mission to the people as well as we are able.
st Mary's Greenhill, where we have ministered for 123 years is still very much part of our missionary outreach
even with only one sister living there.
Sr Nora Mary ¢ollaboralfJS With the different groups and cultures within the par¢sh being 8 member of the Paris
Team and the safeguarding subcommittee to the Trustees of the Diocese.
Continuing her work ¥Mth sacramental programmes and developing the prayer life of parishioners and groups.
She also takes time to visit the housebound and reach out lo the tnullicultural groups within the parish lo ￿ake
them feel welcome and offer any help that she can to them.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
In the Archdiocese of St Andrews and Edlnburgh.. Llfe In Rumford and beyond..
Life in the parish is full of hope and joy as we meet and greet one another especially with a cup of lea or coffee
after all Masses in the week either in the house or in the hall. Al lime5 It has not been easy within parish life bul
we take time to talk and to listen to one another and this has been a great support for all in the parish.
With some of our parishioners now elderly and either housebound or In cale homes we are going out lo them on
a regular basis to take communion to them and lo spend lime having 'a chal,.
Our interparish prayer group continues on a monthly basis and those who can no longer come because of age
and frailty receive the prayer so that they can still feel part of the grtsup. We have some new members which
brings us new life.
People who search and thirst for a mèaning in life benefit from spiritual help
"Grace comes from places...from being among people with proximity, simplicity and joy...with the poor who
have opened for us paths of lrfe..
UJ Charism Booklet 2013
Sisters who are loined in spiritual direction continue meeting directees either face to face or on zoom. This time
of discemment helps them to grow in their understanding of themselves, find their path in life and so live with
and reach out to others.
Sr Kathleen in collaboration with two others continue5 to prepare online courses for spiritual growth. We have
decided to continue online as we can reach out beyc>nd (>ur lo¢al borders.
Other Spiritual Directors have laken up this course and this year we have welcomed people from Canada,
Arnerica, Spain and England!
Carlng Mlnlstrles
While all our ministries are caring we mention one in particular. Kathleen continues to work with young people
with learning difficulties as a member ol the SPREO team.
SPRED - Specia1 Religious Education. Many hours were needeLI lo ensure that those with such difficulties were
not abandoned during COVID. Now we have returned lo our ¢enlre and the group of friends and calechisls have
grown together throughout 2023. This ministy in the diocese continue5 to take rnore hours with ils ￿rvIVal more
and more dependent on the volunteer catechists giving more htsurs due lo lack of finances.
14-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Young peoplè bènèfit from slstèrs who arè eommittèd In diffèrent fièlds of Ministry.
Putting Financial Resources at the service of others
As we become increasingly aware of our diminlshing personnel". our slslers, our greatest resource, we seek lo
help projects financially. choosing different areas of need".
The Homelèss.. donats'ons to Crisis. who always wamily respond to our donations.
Crisis r8sponds.' Your generosity means that our Crisis at Christmas guests received hol meals, welfare
Companionship. vital care and a place lo stay over the festive season. You are making a real difference in
people's lives.
Homeles5 Youth through thè De Paul Trust. a trust that has as obleclives.. to prevent young people from
becoming homeless and lo protect those who are homeless. In 2023 they wrote.
the rise in young people accessing our many services, a rise in our Gosl's and at the same lime a lot of
nomial func*ing dried up so your support is vital lo us lo continue running our services..
Medaille Trust
One of our solidarity projects is lo contribute annually to Medaille Trust. Thi5 Trust desires a world where the
trafficking of human beings for sexual, economic and labour exploilalion has been eradicated.
The Medaille Trust is a charity ftsundecl by Catholic religious congregations to work for the eradication ol human
trafficking and lo offei support lo those who have been trafficked. It continues to advance its mission of the
empowerment of women, young men and children, who have been freed from the human-trafficking industry
here in the UK, enabling them to regain their dignity and sell-worth. They say, 'Ihe donations we receive go lo
work straight away, supporting survivors of human traffickn'ng and modern slavery as they re¢over from their past
and rebuild their fulure,.
Age UK and the Maggie Centre were on our list for 2023 and responded with their thanks for the donation of
£500 and £250 respectively. The Maggie Centre says, '1 wanted you to know that you are rnaking an incredible
differènce lo people when cancer has ILJrned their lives upside-down,. Age UK tells us our support enables them
lo provide vital services to older people in communities across the UK.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
2023. again, brought about highly volatile equity markets due to factors such as inflation, geopolitical risks and
slowing economic gro￿. Despite this, the Charity had an increase in investment value at the yearend in
comparison lo 2022.
The balance sheet remains strong,. as, total assets have increased over the year, mainly as the result Df the
iricrease in value of investments. Incoming resources have also increased largely due to an increase in
investment income.
Tangible fixed assets accounted for £3,816,787 (down from £5.300,736 in 20221 whilst listed investments lat
market value) amounted to £19,372,518 1£18,033.607 in 20221. Additionally balances of £2,594,946 (£267,840
in 20221 were held on deposit.
Tangible fixed assets consist of land & buildings in the most part. many of which were first recognised in the
accounts in the 1980$. and have a current market value which is signifi¢anlly higher than their book value. The
trustees continue to review the property portfolio to ensure that il meets the needs of the Charity and is fit for
purpose.
The underlying strategy continues to be to invest for the longer term lo provide the in¢tsme necessary to
maintain the charities commitments, which are constantly monitored and this strategy is regularly reviewed.
Investment performance
Below is a graph which shows the funds held by the Charity and their value over the past ten years..
Investment performance
20
iiiiill
Prop
•C¥h
io
O'seasf quties
UK e0Th45
UK Equr(ies
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Year
16-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
INVESTMENT POLICY
The Iruslees, under advice from their financial advisers and in collaboration with their investment Managers,
invest the Charity's assets as govemed by the Trustee Act 2000. The trustees. through a signed agreement,
instruct the investment managers lo act on their behalf.
The objectives tsf the tiuslees are lo ensure that the Charity's funds are protected by..
the creation of sufficlenl finandal return lo enable the Charity lo carry out its purposes effectively, and
without inl&rruplion",
the maintenance land, il possible, enhancemenll In real terms of the value of the invested funds vknilsl they
are retained".
managing risk",
adopting a lolal return policy where appropriate.,
adopting 8 mulli asset class approach. incorporating both colleclive investment funds and direct
inveslmenls". and
investing in 3¢cord8n¢e with the Charity'5 ethical policy.
To ensure that they meet these key objectives, the trustees consider the followng principles al all times..
To address the Charity's needs and those of its beneficiaries.,
To lake into account the Charity's future need5 for both income and capital;
To generate income from the investmenls lo enable the trustees lo ¢arry otjl the aim$ and obje¢lives of the
Charity as set out in the Trust Deed. Having assessed the financial needs ol the Congregation, trustees will
a9ree an annual requirement (the budget) for income and relate this to the advisers,.
To review the investments at periodic Investment Meetings.,
To compare performance against a relevant benchmark, with performance figures to be prepared on a
quarterly basis-
When evaluating performancè, to balance best results with the taking of undue risk and to lake account of
the whole picture, both inctsme and capital, and
To be governed by the principle of prudence, bearing in mind the long-lemi nature of Charity fvnds. The
risk profile. as defined in our investment management ag￿eMent, is ¢onsidered ac¢eplable.
The trustees accept possible loss as a natural function of investment risk incurred in the pursult of
annual total relums that typically range from 7Yo to 9°A on average over tl3e longer term. The degree ol
risk is normally reduced through diversificat￿n and assel allocation as well as periodic reVis￿nS to
rebalance any excesses that develop.
ETHICAL POLICY
The trustees recognise that, by excluding certain inveslmenls, perfomiance and returns may be more volatile
against benchmark indices which do include those stocks. They have decided, where practicable, lo exclude
direct investment in organisats'ons which are substantially engaged {major aclivilyl in the following activities..
Armaments and nuclear military. including whole weapons systems, strategic componenls and services -
manufactLJring or supply..

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Ethical policy Icontinuedl
Products or aims which conflict with the "sanctity of life" laborb.onl - including manufacture, di5tribulion,
promolion and retail.,
Pornography - production".
Those detrimental tts the environment - including those companies which have the highest impact and that
are judged to be the worst performers
The trLJslees also wish to avoid where possible those companies whose main activities fall into the following
categories..
Tobacco and alcohol- irresponsible promob'on and marketing",
Consumer Credit",
Gambling.,
Genetically modified organisms.. and
Nuclear energy.
Ethical screening software can be employed by investment advisers and is usually capable of identifying
companies whose 'major' activity fits one or more of the above criteria. The trustees require those companies lo
be specifically excluded from investment. The software can also identify companies which have a °minor'
involvement in these activities. 11 has been agreed that such companies would not be excluded from direct
investment.
11 is recognised that certain companies are invested in through collective funds which. by their nature, do not
operate lo an ethical policy. To achieve the objective of diversification, trustees require access to such funds.
The Iruslees will discuss periodically with the investment managers what information can be provided in respect
of such collective funds to periodically review and report on the siluation.
From February 2017. the direct UK equities are also being selected on a Sustainable Investing basis. UK
companies are assessed and rated for both their Sustainability Performance and their Sustainability Risk. Only
UK companies meeting threshold levels on those combined measures are considered for possible iriclu5ion
within the direct UK equities part of the portfolio.
From 2023, following discussion amongst the trustees and their professional advisors, il has been agreed that
the European and US equities held within the Charities investment portfolio will also be sele¢led on a
Sustainable Investing basis.
Reserves policy
The Need for Designated Funds
As a Religious Order Charity, one of the major groups of beneficiarie5 are the Sisters of the Order who Currently
number 31 in the UK and IRL, plus 357 VVorldwide1388 in lolall.
In the UKIIRL province, by whom this Charity wa5 Sel up, the average age of the Sisters is 84 years.
In the past the Charity's main source of income has Come from the earnings of the members of the Religious
Order and from the operation of schools and a hospital. The Charity no longer directly operates any schools or
the hospital and only a few of the Sisters are still currently in receipt of salaries.
In ¢ommon with other Religious Orders any income the members receive is covenanted to the Charity.
Therefore, the maintenance and retirement care of the elderly is deemed to be a proper use of the Charity's
funds. This is because the members have taken a Vow of Poverty and are entirely dependent upon the Charity
for their physical needs.
The Charity does not have any funds which would be recognised as endowment, capital or reslricled funds.
However, sums have been designated by the trustees for specific requirements as follows'.-
All incoming resources are included in the SOFA when the Charity is legally enlilled lo the income and the
amount can be quantified with reasonable accuracy.
18-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
For legacies, enb'tlement is the earlier of the Charity being notified of an impending distribution or the legacy
being received. All gifts and donations received during the year are used to fulfil the Charity's objects. All
donations and gifts are accounted for in the year of receipt.
The general income of the Charity is insufficient to meet its annual expenditure without the substantial income
now generated from its funds under investment.
With the increasing average age of the Order this deficit is likely lo in¢rease significantly over the coming years.
As incoming resources continue lo fall. the Charity will rely increasingly on its investment income and capital to
pay its expenses on a year to year basis. It may. therefore, require need tD designate and accumulate some of
its future surplus income and capital gains.
However, working capital and provincial reserves will be monilored annually to ensure that they are not
excessive and that action is taken lo maintsin their level al approximal¢ly on¢ to two year's annLJal gross
expenditure.
Funds total £12,307,95712022. £11,730,965).
CommL5ni
Care Fund
This fund has been set up for the maintenance and retirement care of the elderfy and infirm Sisters of the Order
of whom there are 8 at the present time.
The Order as a teaching and nursing Order formerly operated schools, nursing homes and a hospitsl. These
properties were owned and financed by the Charity and many member5 of the Order worked in these
e51ablishments.
Following a de¢line in the number of members of the Order and, with the majority having reached retirement
age, the Charity wthdrew from its large schools and hospital. These buildings have therefore been disposed of
as surplus to requirements with the proceeds being transferred to this fund, along Mqlh the receipt of lump sums
from pension funds which are donated by retiring Sisters who had previously worked, for example, iri the Public
Sector. Although few rnembers of the Order still work in schools and hospita15, the majority work in small
communities within various Parishes throughout the UK and Southern Ireland
Funds total £10.942,571 12022.. £9,514,357).
and Mi
The income and capit31 of thi5 fund is lo be applied for Worldwide Missionary purposes of the Charity, including
support for Sisters working in developing ¢ounlries, emergency disaster relief and other charitable purposes.
Funds total £36,47512022". £35,147).
In order to fulfil its charitable objectives the Charity owns a substantial number of properties and other fixed
assets in various locations principally within the UK, but also in Southern Ireland. The properties are used by the
members of the Order as a base for their charitable work within the community and parishes.
The value of the fund represents the carrying value of these 85sels It is the opinion of the trustees that these
a55els cannot be realised wthoul undermining the Charity's work, hence the need for this designab"on. The
tiuslees continue to rewew the stsle of repair of these properties. their running costs and their use.
Funds total £3,816,78712022 £5,300,735).
Fund transf&rs
The transfer of £1,280.290 to the Community Care Fund from the UK I IRL Missionary Reality Fund was to
support eldedy sisters.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Fund transfers {contFnuèd}
The transfer of £55,000 from the UK I IRL Missionary Reality Fund lo the Solidarity & Missions Fund was to
support the mission5.
The transfer of £600 from the UKIIRL Missionary Reality Fund to the Solidarity & Missions Fund was to support
the contributions made towards missions.
The Iransler of £8,051 to the UK I IRL Missionary Reality Fund from the Community Care Fund was tts supptsrt
the Sisters working in the community.
The £126,847 transfer to the Fixed Asset Fund from the UK I IRL Missionary Reality Fund was in respect of
gains made on disposals less depreciation charged in the year.
The £1,483,948 transfer from the Fixed Asset Fund to UK I IRL Missionary Realily Fund was to refiect the
movement in the fixed assets carrying value.
The funds held by the Charity are pooled in a common inveslrnenl fund. They 8re allocated 8pproximalely 500A
to the Provincial Fund which is responsible for furiding the day to day operation5 of the Order and repairs to ils
property. The other 50010 is allocated to the Communily Care Fund which is used to support the elderly and infimi
sister5 of the Order. The funds are managed externally and the managers have a mandate lo generate
maximum Income for the Order. This is covered in more detail above under the Investment Policy.
Ongoing needs of the Slsters
For many years the Charity has been accumulating investments towards future funding requirements. These
include:_
The trustees are continuing lo designate investment surpluses lo the Community Care Fund toward the
running of Stella Maris. the home for the eldedy Sisters. which costs approximately £721,600 per
annum.
In addition. Ihe Community Care Fund will provide income towards the future needs of those Sisters still
workino in communities. The average cost of an active member amounts to approximately £16.500 per
8nnuw, the average cost of a member requiring some care amounts to approximately £28,050 per
annum and the average cost of a Sister requiring nursing care amounts lo approximately £44.000 per
annum.
th 23 sisters still w()rking in communities and 8 Sisters currently requiring nursing ¢are and taking into account
some other sources of Income. a Capital sum of approximately £15.3 Million will require lo be designated in total
to the Community Care Fund to generate annual in¢ome lo meet these ¢osls.
To summarise. in round figures, the balance sheel:_
£'ooo
Balance Sheet lolal
Deduct fixed assets
Deduct other designated funds
Surplus
27,104
13,8171
36
23,251
This year's reserves leaves £23.2 million available to 8IItsc8le towards the £15.3 million required to be
designated in the future to the Community Care Fund.
Actuarially, this formula is an over simplification, however, the trustees are mindful that an accurate calculation
would be an expensive exercise to undertake and it is impossible to predict when andlor if a particular Sister will
require more expensive care.
The Community Care Fund has had the benefit of a formal actuarial review carried out in 2000 by Bamett
Waddingham, which indicated that fundin9 of £15.3 million would be required lor community care purposes.
The Community Care Fund has a balance of £10,942,571 al 31 December 2023. Based on funding
requirement5 of £15.3 million, then there is potentially a deficit in funding of £4.4 million. The trustees are
considering their options in order to try and address this deficit.
-20-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Futur• Plans
As a congregation we look at our present reality, our resources". personnel and finan¢e and see Wh￿ we can
best respond to the pressing needs of our lime. We are Constantly reviewing and updating these resp(x)ses
conscious that in our UKII Reality that our numbers are decreasing and average age increasing.
While aware of the challenges that our dee￿a51n9 nuFnber brings, the war in the Ukraine. Palests'ne, the
uncertainly of world markets and the fluclualion in the cost of everyday necessities, il is still our intention to
continue lo meet the followng objectives..
lal To continue to care for the sisters and lo enable them lo carry out their pastoral work and mni$try, continuing
to live in communities as small missionary presences for 8$ long as we aw able.
Ibl To Continue to support the Congregation's work in Africa particularly in Madagascar. Cameroon and wherever
there is need and for the trustees lo satisfy themselve5 that the funds are applied for their intended purpose.
{cl To monitor the needs of the 515ters as they grow older and adapt the Charity's plans in respect of property
neelys and the provision of care lo elderly mefllbers.
Idl To ¢ontinLJe to refle¢l on the ¢hallenges and opportunities of "publi¢ benefiv, and to be in solidarity with our
world especially where life is Ihrealened.
The Trustees wish to iecord their recognition of the Commitment of all the individual members of the
Congregation. Their dedication and positive approach are very much appreciated.
The trustees, report was approved by the Board of Trustees.
Sister Kathlg¢n Curran
Trustee
Dated.. .4.3.. 1 :.T.L

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102 The Financial
Reporting Standard applicable lo fhe UK and Republic of Ireland Iuniled Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each
financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and
application of resources ol the charily for that year.
In preparing these financial statements, the trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP".
make judgements and estimates that are reasonable and prudent,.
slate whether applicable a¢¢ounling standards have been followed, subject lo any material departures disclosed
and explained in the finan¢ial Slalemenls". and
p￿pare the financial statements on the going ¢oncem basis unless Il is inappropriate lo presume that the charty
will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at
any time Ihe financial position of the charity and enable them tts ensure that the financial statements comply with
the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the provisions of the trust deed.
They are a150 responsible for safeguarding the assets ol the char¢ty and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
22-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE CHARITY OF THE CONGREGATION OF THE URSULINES
OF JESUS
Opinion
We have audited the finanGial slalefflenls of The Charity of the Congregation of the Ursuline5 of Jesu5 Ilhe '¢harity'}
for the year ended 31 December 2023 whiGh cornprise the slalement of financial aclivilies, the balantr sheet, the
statement of cash flows and the notes lo the financial statements, including a summary of significant accounting
policies. The financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards, in¢luding Winanci31 Reporting Stsndard 102 The Financial Reporting Standard
applicable in the UK and RepublK ol Ireland (United Kingdom Generally Accepted Accounting Practi￿1.
In our opinion, the financial slatemenls..
give a true and fair view of the 51ale of the charity's affairs as al 31 December 2023 and of ils incoming
resources and application of resources, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice",
and
have been prepared in a¢¢ordan¢e with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance wth International Standards on Auditing (UKI IISAS IUKII and applicable
law. Our responsibilities under those standards a￿ further described in the Auditor's responsibilib'es lor the audit ol
the financial statements section of our report. We are independent of the tharity in accc)rdance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and the provisions available for small entities, in the circumstances set out in note 26 to the financial
statements. and we have fulfilled our other ethical responsibilities in accordance with these requirerllents. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide 8 basis for our opinion.
Conclusions relating to 90ing concem
In auditing the financial slalemenls, we have ¢on¢luded that the trustees, use of the going concem basis of
accounting in the preparation of the financial slalemenls is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating lo events or
cc>nditions that, individually or collectively, may cast significant doubl Dn the charity's ability lo continue as a going
concern for a period of at least twelve months from when the financial statements are aulhorised for issue.
Our responsibilities and the responsibilities of the Iruslees with respect lo going concern are described in the
relevant sections of this report.
Othèr Information
The other informats'on comprises the information included in the annual report other than the financial statements
and our auditorfs report Ihereon. The Iruslees are responsible for the other information contained wthin the annual
report. Our opinion on the financial slalemenls does not cover the other Informalitsn and we do n(>t expie55 any form
of assurance conclusiors thereon. Our responsibility is lo read the other information and. in doing so. consider
whether the other information is materially inconsislenl with the financial slalements or our kno￿edge obtained in
the course of the audit, or otherwise appears lo be materially misstated. If we identify such material inconsistencies
or apparent material misslalements, we are required to determine whether this gives rise to a material misstatement
In the financial slalemenls themselves. If, based on the work we have performed. we condude that there 1$ a
material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE CHARITY OF THE CONGREGATION OF THE URSULINES
OF JESUS
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Charity and environment obtained in the course of the audit,
we have not identified material rnisslalermenls in the Trustees, Annual Report.
We have ntslhlng lo report in respect of the following matters in relation to which the Charities Act 2011 require us to
report lo you if, in our opinion".
certain disclosures of Iruslees, remuneration specified by law are not made", or
sufficient accoLJnting records have not been kept, or
the financial slatements are not in agreement with the accounting records.. or
we have not obtained all the information and explanations necessary lor the purposes of our audit.
R&sponsibilitias of trustèes
As explained more fully in the statement of trustees. responsibilities. the trustees are responsible for the preparation
of the financial statements and for being satisfied thal they give a true and fair view, and for such internal control as
the Iru51ees determine is necessary to enable the preparalion of financial statements that are free from material
misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for
assessing the charily'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 lo ¢ease operations. or
have no realistic alternative bul lo do so.
Auditor's responsibilities for the audit of the financial statèments
We have been appointed as auditor under Section 144 of the Charities Act 2011 and report in accordance with the
Ad and relevant regulations made or having effect Ihereunder.
Our objectives are lo obtain reasonable assurance about whether the financial statements a$ a whole are free from
material misslalemenl. whether due lo fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance 15 a high level ol assurance but is not a guarantee that an audit conducted in accordance
with ISAS IUKI will always delecl a material mi551atemenl when it exists. Misstatements can arise from fraud or
etroi and are considered material if, individually or In the aggregate, they could reasonably be expected to influence
the economi¢ decisions of users taken on the basis of these financial statements.
The extent lo which our procedures are capable of delecting irregularities, including fraud. is detailed below.
24-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE CHARITY OF THE CONGREGATION OF THE URSULINES
OF JESUS
The extent to which the audit was considered capable of detecting irregularities, including fraud
Our approach lo identifying and a5se55ing the risks of material misslalement 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 appropiiale ¢ompeten(*,
capabilities and skills to itlenlify or recognise non-compliance with applicable laws and regulations.,
we Identified the law5 and regulations applicable lo the ¢harity through dis¢ussions with trustees and other
management, and from our commercial knowledge and experien¢e of the charity sector,
we fo¢used on specifi¢ laws and regulations which we Considered may have a direct material effect on the
finanGial slalemenls or the opetsli(>ns of the ¢h3rity, in¢luding legislation such as the Charities Act 2011 and
employment legislation..
we assessed the exlenl of ￿mpliance with the laws and regulations identified above through making
enquiries of management, ¢onla¢ting the enlily's solicitor for any detsils of non-compliance and inspecting
current year legal expenditure, and
identified laws and regulations of particular relevance were communicated within Ihe audit team regularly
and the team remained alert lo instsn¢es of non-compliance throughout the audit.
We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an
underst2nding of how fraud might occur. by..
• making enquiries of management as lo where they considered there was 5usceptibilily lo fraud, their
knowledge of actual, suspected and alleged fraud.,
nsidering the intemal controls in place to mitigate risks of fraud and non-compliance with laws and
regLJlations.
To address the risk of fraud through management bias and override of controls, including any fraud 3s$0¢iated with
revenue reco9nition, we..
perfomied analytical procedures lo identify any unusual or unexpected relationships;
a rewew of joumal entries lo identify unusual transactions.,
reconciled Care fees to the list of residents, applicable weekly fees and dales when re5ident5 ceased lo be
resident at Stella Maris.
agreed a sample of dividend income lo information received from Fund Managers.
evaluated the business rationale of any significant tran5a¢lions that a￿ unusual or outside the normal
course ol business.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE TRUSTEES OF THE CHARITY OF THE CONGREGATION OF THE URSULINES
OF JESUS
In response to the risk of irregularities and non-compliance with laws and regulations. we designed procedures
which included, bul were not limited lo..
agreeing financial statement disclosures to underlying sUppO￿.n9 documentation.,
reading the minutes of meetings of those charged with governance.,
enquiring of management as to actual and potential liligalion and claims against the company..
reviewing Correspondence with charity's legal advisors.,
There are inherent limitations ift our audit procedures described above. The more rernoved that law5 and
regulations are from financial Iransaclions, the less likely il is that we would become aware of non-cornpliance.
Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations lo
enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud ¢an be hardei lo delecl than those that arise from error a5 they may
involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report.
Use ofour report
This repc)rt is made solely to the ¢harily's Iruslees. as a body. in a¢cordan¢e with part 4 of the Charities IAccounts
and Reports) Regulations 2008. OLJr audit work has been undertaken so that we might slate to the charity's trustees
those malters we are required to state to them in an auditor's report and for nts other purpose. To the fullest extent
pemiitted 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.
Greave5 West & Ayre
Chartered Accountants
Statutory Auditor
17 Walkergale
Berwick-upon-Tweed
Northumberland
T015 10J
-26-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Currènt financial year
Unrestricted Unrestricted Restricted
Tangible
funds
funds
funds fixad assets
g&neral designated
funds
2023
2023
2023
Total
Total
2023
2023
2022
Notes
wm
Donations and legacies
Charitable activities
Investments
other
206,518
47,225
335,761
217.600
45.491
301,610
4,281
428,399
92,716
637,673
21,145
452,530
118.874
479,541
76,097
302
21,145
Total income and
&ndowments
589,504
564,701
4.583
21,145
1.179.933 1.127,042
Raising funds
57.949
56,597
114,546
113,114
Charitable a¢livities
577,037
945,337
58,856
147,991
1,729,221
1,788,705
Total rosour¢e$ ex￿nded
634,986
1,001,934
58,856
147,991
1,843,767 1,901,819
Nel gainslllossesl on
investments
11
593,210
593,210
1,186.420 11,684,608)
Net incominglloutgoingl
resources before transfers
547,728
155.977
{54,273} {126,8461
522,585 12,459,385)
Gross transfers between
funds
29,263
1,272,239
55,600 11,357,102)
Net movement In funds
576,991
1,428,216
1,327 11.483.947>
522,587 12,459,386)
Fund b318nces at l January
2023
11.730,966
9.514,359
35,147
5,300,734 26,581,203 29,040,590
Fund balan¢e$ at 31
DeGemb¥r 2023
12,307,957 10.942,575
36,474
3,816,787 27,103,790 26,581,204
The statement of financial activities includes all gains and losses recognised in the year. All income and expendilu
derive from continuing actr'vities.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Prior financial year
Unrestricted Unrestricted Restricted
TangFble
funds
funds
funds fixèd assets
general designated
funds
2022
2022
2022
Totsl
2022
2022
Notes
Dcsnations and legacies
Charitable activities
Investments
Other
263,010
43,451
248,794
316
186,115
75,423
230.508
73,464
3,405
452,530
118.874
479.541
76,097
239
2,317
Total income and endoyfflients
555,571
565,510
5,961
1,127,042
Ex
enditure on..
Raising funds
56,557
56,557
113.114
Charitable activities
608.469
958,174
39.248
182.814
1,788,705
Total resources expended
665,026
1,014,731
39.248
182.814
1,901,819
Nel gainslllossesl on investments
11
1842.3041 1842,3041
11,684,608)
Net in¢ominglloutgoingl rèsourcts before
transfers
1951,7591 11.291,5251
133,2871 1182.8141 12.459,3851
Gross transfers between funds
1466,8311
397,731
51,890
17,209
Net movement in funds
11,418,590) 1893,7941
18,603
1165.6051 12,459,386)
Fund balances at 1 January 2022
13,149,555 10.408,151
16.544
5,466.340 29,040,590
Fund balance$ at 31 De¢ember 2022
11,730,965
9,514,357
35,147
5,300.735 26.581.204
?A_

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Notes
Fixed assets
Tangible assets
Investments
13
14
3,816,787
21,967,464
5,300,736
18,301,447
25,784,251
23,602.183
Current as$&ts
Debtors
Investments
Cash at bank and in hand
12,722
610,165
850,510
50.404
2,364,143
710,564
16
1,473,397
3.125.111
Creditors.. amounts falling due within
one year
17
1153.858)
1146,0901
Net current assets
1,319,539
2,979,021
Total assèts lass currènt Ilabllltias
27,103,790
26,581,204
Designated funds
Tangible Fixed Assets
Community Care Fund
18
20
3,816,787
10,942,571
5,300,735
9,514,357
Restri¢ted funds
Solidarity & Missions Fund
19
36,475
35.147
Gèneral Fund
UKIIRL Missionary Reality fund
21
12.307.957
11,730,965
27,103,790
26,581,204
The accounts were approved by the Trustees on . I S I . Z.*.....
Sister Eileen Ryan
Trust8•
Sister Kathleen Curran
Trustoo

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Notes
Cash flows from operating activities
Cash absorbed by operations
25
11,129,209}
11,110,707)
Investing activities
Purchase of tangible fixed assets
Proceed5 from disposal of tangible fixed
as5els
Purchase of investments
Proceeds from disposal of investments
Investment income received
19,1331
117,209}
1,366,235
111.381.0891
10.655.469
637,673
14,608,646}
4,528,195
479,541
Net cash generated from Invostlng
a¢tivitiès
1,269,155
381,881
Net cash used in financing activities
Net incrèaselldè¢reas&l In cash and cash
equlvalents
139,946
1728,8261
Cash and ¢ash equivalents al beginning ol year
710,564
1.439,390
Cash and cash equivalents at end of year
850,510
710,564

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
Charity infomiation
The Charity of the Congregation of the Ursulines of Jesus is an inleinalional religious order founded in 1802.
It is divided into 7 Missionary Realities supporting 388 sisters and novices worldwide.
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's Trust Deeds, the Charities Act 2011 and
"Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102}, leffeclive 1 January 20191. The charity is a Public Benefit Entity 85 defined by
FRS 102.
The financial slalemenls are prepared in sterfing. whi¢h is the fun¢lional currency of the Charity. Monetary
amounts in these financial stslements are rounded to the nearest £.
The financial 51alemenls have been prepared under the historical cost convention, modified lo include the
revaluation of freehold propertie5 and lo include investment prtsperties and certain financial instruments al fair
value. The principal accounting policies aL%opled are sel out below.
1.2 Going concern
At the lime of approving the financial stslemenls. the trustees have a reasonable expectation that the charity
has adequate resources lo ¢ontinue in operational existence for the foreseeable future. Thus the truslees
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use al the discretion of the trustees in furtherance of their charitable
objectives unless the ftjnds have been designated for other purposes.
Designated ftjnds are unrestricted funds that have been set aside by the Iruslees for particular purposes.
Restricted funds are funds which are lo be used in accordance with specific re51ridions imposed by donors or
which have been raised by the Charity for particular purposes. The cost of raising and administering such
funds are charged against the specific fund. The reslricled income received during the year has been spent
on projects in accordance with the restrictions imposed.
1.4 Income
All incoming resDurces are included in the SOFA when the Charity is legally enlilled lo the income and the
amount can be quantified with reasonable accuracy. For legacies, enlillement 15 the earfier of the Charity
being notified of an impending distribution or the legacy being received.
All gifts and donations received during the year are u5eLI lo lulfil the Charity's c>bje¢ls. All donations and gifts
are accounted for in the year of receipt.
Slsters, $alari&$ and p&nslons
Members, salaries and pensions are received under deeds of covenant and are slated inclusive of income
tax, but not of any deductions for social security payments or contributions to OCGupalional pension schemes.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution,
the amounl is known. and receipt is expected. If the amount is not known. the lega¢y is treated as a
contingent asset.
Receipts of lump sums from occupational and other pension s¢hemes upon the retirement of members are
credited lo the UKIIRL Missionary Reality Fund.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
(Continued)
1.5 Expenditu
Expenditure is recognised on an accruals basis as 8 liability is incurred. Expenditure includes VAT which
cannot be recovered, and is reported as part tsf the expenditure to which it relates. Resources expended are
analysed as follow5.'
Costs of raising funds include the fee5 paid lo investment mana9ers in connection with the
management of the Charity's listed inveslmenls.
Direct charitable expenditure comprises those c05t5 incurred by the Charity in the delivery of ils
activities and services for ils beneficiarie5. This Includes both costs Ihal can be allowed directly to
such activities and those costs of an indirect nature necessary to support them.
Goveman¢e oosls include those costs associated with meeting the constituts'onal and statutory
requirements of the chanty and Include the fees and costs linked lo the strategic management of the
Charity.
1.6 Tanglble fixed assets
Tangible fixed assets are initially measured at ¢osl and subsequently measured at cost or valuation, net ol
depreaation and any impairment losses.
Fixed assets are capitalised at cost, though assets below the valLJe of £100 are not ¢apilalised Depreciation
is provided at rates calculated to write off the cost or valuation, less residual value of each asset over its
expected useful life, as follows..
Freehold Land and 8uildings
Leasehold Land and Buildings
Furniture and Fittings
Computer equipment
Motor Vehicles
2% Straight Line
20A Straight Line
15°A Reducing Balancelstraight Line
33°/¢ Straight Line115 /0 Reducing Balance
25°A Reducing Balance
Land and buildings were professionally valued in 1989. They are held in the balance sheet at that value.
Donated assets - are capitalised al the estimated value at the time of their receipt. All assets are reviewed
regularly for impairment and written down lo their recoverable amount, where necessary.
Heritage assets - the Charity owns a small number of historical artefacts which have all been received as a
donation sometime in the past. The trustees do not consider that reliable cost or valuation information can be
obtained easily for the items held, mainly because of the lack of comparable market values due to their
unique nature. The artefacls are on permanent loan to a museum, 50 there are few costs associated with the
preservation or security of these a55els. The Charity therefore does not recognise these assets on ils Balance
Sheet.
1.7 Flxed asset Invèstments
Fixed asset investments are shown al their mid-market value as at the balance sheet date. Both realised and
unrealised gainslllossesl are taken to the income and expenditure account and SOFA.
1.8 Impairment of fixed assets
At each repr)rting end date. the Charity reviews the carrying amounts of ils tangible assets lo determine
whether there is any indication that those assets have suffered an impairment loss. If any su¢h ind¢ation
exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment
loss lif any).

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policiès
Icontinuedl
1.9 Cash and cash equivalents
Cash and Cash equivalents in¢lude cash in hand, deposits held at call wth banks. other short-lerm liquid
inveslmttnls with original maturitiès of three months or less. and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.10 Financial instruments
The Charity has elected to apply the provisions of Section 11 'B3sic Financial Instruments, and Section 12
'other Financial Inslrumenls15sues' of FRS 102 to all (>f its financial instruments.
Financial instTufflenls are recognised in the Chanty's balance sheet when the Charity becomes party to the
contractual provisions of the inslwment.
Financial assets and liabilities are offset, with the net amounts presented in the financial stalemenls, when
there Is a legally enforceable right lo sel off the recognised amounts and there is an intention to settle on
net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets. which include debtors and cash and bank balances, are initially measured at
transaction price Incl(Jding Iransa¢lion ¢osts and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing Iransaclion, where the transaction 15
measured at the p￿sent value of the future receipts discounted al a market rate of interest. Finan¢ial a55els
classified as receivable within one year are not amortised.
8asl¢ financlal liabllities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constilules a financing Iransaclion, where the debt instrument is measured al the present
value of the future payments discounted al a market rale of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rale method.
Trade creditors are obligations to pay for goods or seNices that have been acquired in the ordinary Course ol
operations from suppliers. Amounts payable are classified as current liabilities if payment is due wthin one
year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or
cancelled.
1.11 Employèè bènèfits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12 Foreign exchange
Assets and liabilities in foreign currencies are translated into slerfing al the rale of exchange ruling al the
balance sheet date. Transactions in foreign currencies are recorded al the average of the rale 8t the start ot
the year and the rate 81 the end of the year. All differences are taken to the SOFA.
1.13 Government Grants
All grants are used for chaiitable expenditure and capital items and are recognised in full in the year in which
they are receivable, or when the conditions for receipt have been met.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
IContinu6dl
1.14 Investment policy
The Charity's Investment policy and ethical policy can be found within the financial review section of the
Trustees, Report.
Critical accounting estimates and judyements
In the application of the Charity's accoynling policies, the trustees are required to make judgements,
estimates and assLJmptions about the carrying amount of assets and liabilities that are nol readily apparent
from other sources. The eslimales and associated assumptions are based on historical experience and other
factors that are considered lo be relevant. Actual results may differ from these estimates.
The eslimales and underlying assumptions are reviewed on an ongoing basis Rewsions to accounting
estimates are recognised in the period in which the estimale is revised where the revision affects only that
period, or in the period ol the revision and future periods where the revision affects both current and future
periods.
Donations and legacies
UKIIRL Comrnunity Solidarity &
Misslonary
Care
Missions
Reality Fund
Fund
Fund
Total
2023
Total
2022
Donations and gifts
Legacies receivable
Salaries. pensions elc.
13,055
820
4,281
18,156
41,195
15,388
395,947
193,463
216,780
410,243
206,518
217.600
4.281
428,399
452,530
For the year ended 31 Dec&mber
2022
263.010
186,115
3,405
452,530
Donations and gifts
Donalitsns and gifts
13,055
820
4,28 1
18,156
41,195
Salaries, pensions etc.
Retirement pension5
Social security pensions
SlipendslBishop
75,444
103,990
14,029
41,755
175.025
117.199
279,015
14,029
115.756
266,282
13.909
193.463
216,780
410,243
395,947

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Charitable activities
UKIIRL
Missionary Community
Reality Fund
Care Fund
Total
2023
Totsl
2022
Rents receivable
Care fees
Other income
46,158
46,158
45,491
1,067
43,151
75,423
300
45,491
1,067
47,225
45.491
92,716
118.874
Analysis by fund
Unrestricted funds general
Unreslricled funLYs - designated
47,225
47,225
45,491
45,491
47,225
45,491
92,716
For the year gndad 31 D8c&mb&r 2022
Unrestricted funds- general
Unrestricted funds- designated
43,451
43,451
75,423
75,423
43,451
75.423
118,874
Inv&stmgnts
UKIIRL Community Solidarity &
Missionary
Care
Missions
Reality Fund
Fund
Fund
Total
2023
Total
2022
Income from listed investments
Interest receivable
268,443
67,318
268,443
33,167
219
83
537,105
100,568
448,621
30,920
335,761
301,610
302
637,673
479,541
For the year onded 31 D&¢embgr
2022
248.794
230,508
239
479,541

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
other
UKIIRL Community Solidarity &
Tangible
Missionary
Carè
Missions Fixed Asset
Reality Fund
Fund
Fund
Fund
Total
2023
Total
2022
Nel gain on disposal of
tangible fixed assets
COVID-19 Support grants
Currency exchange
variation
21,145
21,145
73.464
2.633
21,145
21,145
76,097
For thè yèar ended 31
December 2022
316
73,464
2,317
76,097
Ralslng funds
UKIIRL Communlty
Missionary
Care
Reality Fund
Fund
Total
2023
Total
2022
Investment management fees
57,949
56,597
114,546
113,114
For the year ended 31 Dècember 2022
Investment management fees
56,557
56,557
113,114
-36-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Charitable activities
House Care home
Other
expenses
expenses expenditure
Total
2023
Totsl
2022
Depreciation and impairment
Repairs and renovations
Food
Personal
House
Transportation
Province
Exterior
Personnel
Charity
Worship
Grants lo mission5
147,991
147.991
130,284
95,088
102,919
369,674
23,279
6,728
6,646
558,039
15,693
20,058
57,859
182,814
143,792
94,084
148,431
339,414
27,753
8.358
3,470
611,437
14,636
12,335
39,248
130,284
65,073
79,918
204.575
23,279
6.728
5,308
109,546
13,070
20,058
30,015
23,001
165,099
341
448,493
2.623
997
57,859
657,839
669,572
206,847 1,534,258
1,825,772
sha￿ of governance costs (see note
91
194,963
194,963
162,933
852.802
669,572
206,847 1,729,221
1,788,705
Analysis by fund
UKIIRL Missionary Funds- general
Community Care- designated
Solidarity & Missions Ftjnd
Tangible Fixed Assets
577,037
275,765
577,037
945,337
58,856
147,991
689,572
58,856
147,991
852,802
669,572
206,847
1,729,221
For the year ended 31 Dècember 2022
UKIIRL Missionary Funds - general
Community Care - designated
Solidarity & Missions Fund
Tangible Fixed Assets
608,469
278,324
608,469
958,174
39,248
182,814
679.850
39.248
182,814
888,793
679,850
222,062
1.788,705

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Support costs
2023
2022 Basis of allocation
Audit fees
Accountancy, taxation and adminislralion fees
Legal and professional fees and disbursements
Trustees meeting expenses and disbursements
Payments lo general level
28,267
54,147
14,200
24.100
74,249
19,480 Govemance
33,382 Govemance
8,048 Govemance
26.420 Govemance
75,603 Governance
194,963
162,933
Trustees meetings expenses relate to attendance of professional advisers al management and finance
meetings.
Greaves Wesl and Ayre, who are independent financial advisors a5 well as Chartered Accountants and
Statutory Auditors. leceived lees lor a range ol professional services lolalling £85,99912022 £78,031)
10
Employees
Numbèr of employees
The average monthly number of employees during the year was..
2023
Number
2022
Number
Full lime employees
Part time employees
24
24
33
33
Employment costs
2023
2022
Wages and salaries
Social seGurily costs
Other pension costs
518,674
34,507
4,858
541,453
36,867
5,672
558,039
583,992
There were no employees whose annual remuneration was £60,000 or more.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
11
Net gain$lllo$$e$l on invastmants
Unrèstri¢ted Unrestricted
funds
funds
general designated
Total
2023
Total
2022
Revaluation of investments
Gainllloss) on sale of investments
397,864
195,346
397,864
195,346
795,728
390,692
11,388,280)
1296,3281
593,210
593,210 1.186,420
11,684.6081
For th8 year ènded 31
D¢¢embèr 2022
1842,3041 1842,3041
11,684,608)
12 Taxation
The charity is exempl from laxabon on its activities because all its income is applied for charitable purposes.
13 Tangible fixed assets
Freehold Land
and Buildings
Leasehold Furnlture and
Land and
Flttlngs
Buildings
Computer
equlpment
Motor
Vehlcl8s
Total
ost
At 1 January 2023
Addition5
Disposals
7,232,611
118,791
1,017.822
3,742
21.875
5.391
133,137 8,524.236
9,133
11.494.542)
11,494.5421
Al 31 December 2023
5,738,069
118,791
1,021,564
27,266
133,137 7,038,827
Depreciation and
impairment
Al 1 January 2023
Depreciation charged in the
year
Eliminated in respect of
disposals
2,180,951
42.753
886,310
16,756
116,730 3,223,500
114,761
2.376
23,416
3,337
4,102
147,992
{149,4521
1149,4521
At 31 Decgmber2023
2,146,260
45,129
889,726
20,093
120.832 3.222,040
Carying amount
Al 31 De¢ember 2023
3,591.809
73,662
131,838
7,173
12,305 3,816,787
Al 31 December 2022
5,051,660
76,038
151,513
5,119
16,406 S,300,736

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
14 Fixed asset investments
Listed
Investments
Cash on
deposit
Totsl
Cost or valuation
Al 1 January 2023
Additions
Valuation changes
Disposals
18,033,607
18,301,447
11,381,089
25,179,842
1,186.419
1,186,419
111,228,597) 111,471,647) 122,700,244)
267,840
13,798,753
Al 31 December 2023
19,372,518
2,594,94S
21,967,464
Carrying amount
Al 31 December 2023
19,372,518
2.594,946
21,967,464
Al 31 Oecember 2022
18,033,607
267,840
18,301.447
15 D&btors
2023
2022
Amounts falling due within one year:
Other debtors
Prepayment5 and accrued income
11,057
1,665
46,903
3,501
12,722
50.404
16 Current a55et investments
2023
2022
Unlisted investments
610,165
2,364,143
17 Creditors.. amounts falling due within one year
2023
2022
Other credilors
Ac¢iuals and deferred income
123,240
30,618
146,090
153,858
146.090
-40-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
18 Endowmentfunds
Endowment fund5 represent a55els which musl be held pemianenlly by the charity. Income arising on the
endowment funds can be used In accordance wth the objects of the charity and is included as Un￿StrICted
ncome. Any capital gains or losses arising on the assets ftsrm part of the fund.
At 1 January
2023
Incoming
resources
Resources
expended
Transfèrs
At31
December
2023
Permanent endowments
5.300,734
21,145
1147,9911 11,357,101)
3,816,787
Previous year:
At 1 January
2022
Incoming
resources
Resources
expended
Transfers
At31
December
2022
Permanent endowments
5,466,340
1182,8141
17,209
5,300,735
19 Rèstrictèd funds
The reslricled funds of the ¢harily Comprise the unexpended balances of donations and grants held on trust
$ubje¢t to $pe¢ifi¢ ¢ondi1ions by donors as lo how they may be used.
At 1 January
2023
Incoming
re$ourc&s
Rèsourcès
expended
Transfors
At31
Dècèmber
2023
35,148
4,583
158,856}
55,600
36,475
Pravlous year:
At 1 January
2022
Incoming
resources
Resources
expended
Transfers
At31
December
2022
16.544
5,961
139,2481
51.890
35,147

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED>
FOR THE YEAR ENDED 31 DECEMBER 2023
20 Unrestricted funds - designated
These a￿ unrestricted funds which are material lo the ¢harily's a¢livilies.
At 1 January
2023
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At31
December
2023
9,514,355
584,701
11,001,934)
1,272,239
593,210
10,942,571
Previous yèar..
At 1 January
2022
Incoming
resourc&s
Resources
èxpèndad
Transfars
Gains and
losses
At31
December
2022
10.408,151
565.510
11.014.731)
397.731
1842.3041
9.514,357
21
Unrestri¢ted funds
The unre51ricled funds of the ¢harily comprise the unexpended balanGe5 of donations and grants which are
not subject 10 5pecifi¢ conditions by donors and grantors as lo how they may be used These inclLJde
designated funds which have been set aside out of unreslri¢led funds by the trustees for specific purposes.
At 1 January
2023
Incoming
rasourcès
Resources
•xp8nded
Transfers
Gains and
losses
At31
Dacamb8r
2023
General funds
11,730,986
589,504
1634,9861
29,263
593,210
12,307,957
Prèvious yèar:
At 1 January
2022
Incoming
resources
Rèsources
exp&nded
Transfers
Gains and
losses
At31
December
2022
General funds
13,149,555
555,571
1665,0261
1466,8311
1842,3041 11,730,965
-42.

) oi (N
JZ5 *)
E5 u)

I

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
23 Ralated party transactions
The Iru5tees of the Charity are also members of the Congregation and, as such, have taken vows of poverty
under which they have renounced all personal right5 10 income or capital. The Charity provides for the
essential needs of all members of the Congregation wthin the Reality. The living costs of the trustees are
therefore borne by the Chaiily.
The Iruslees received no remuneration or other benefils12022.. £Nill in connection with their duties as Iruslees
during the year. No reirnbursemenl of expenses 12022.. £Nill has been made or is due to be made to any
trustee in respect of the year.
24 Gifts in kind
The Charity allows one of its properties lo be used rent free and a nominal rent is charged for a second
property. The notional value of this rental income, which is included within the aeeounts, is £45,S37 12022..
£42,530). The Charity also uses properties owned by other charitable organisalions for which il does not pay
rent, but a notional charge is put through these accounts for £13,011 (2022." £28.4381.
In addition, the Charity receives considerable support in the form of volunteer time given by the sisters and
others. The significant costs of this unpaid time is not quantified nor recorded in the accounts.
25 Cash generatod from opgratlon$
2023
2022
Surpluslldeficitl for the year
522,587
12.459,386)
Adjustments for..
Investment income recognised in 5talemenl of financial activities
Gain on disposal of tsngible fixed assets
IGain}Iloss on disposal of investments
Fair value gains and10$5es on investments
Depreciation and impairment of tangible fixed assets
1637.6731
121,1451
{390,6921
1795,7281
147,992
(479,5411
296,328
1,388,280
182,814
Movements in working capitsl..
Decreasellincreasel in debtors
Increaselldecrease} in creditors
37,682
7.768
136.2441
12,9581
Cash absorbad by opèrations
11,129,209) 11,110.7071
26 Non-audit sèrvi¢è$ providgd by auditor
In Common with many charitie5 of our size and nature, we use otjr auditor to p￿pa￿ and maintain the payroll
records and assist with the preparation of Charity's financial ststements.