2024-12-31-accounts

Charity R&glstration No. 235342 THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 UL/ JES

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS LEGAL AND ADMINISTRATIVE INFORMATION Coordlnator and Tru$t88 Sister Hilary Brown Trustees Sister Eileen Ryan Sister Mary McLoughney Sister Nora Mary Ryan Sister Kathleen Curran Charity number 235342 Prlnclpal address Ursulines of Jesus Administration Stella Maris Convent Eaton Crescent Swansea SA14QR Audltor Greaves Wesl & Ayre 17 Walkergate Berwick-upon-Tweed Northumberfand TD15 1DJ Bankers Royal Bank of Scotland Sollcltors Polhecary Witham Weld 84 Eccleston Square Pimlico London SW1V 1PX Stone King LLP Upper Borough Court Upper Borough Walls Bath BA1 1RG Investment advisors UBSAG 5 Broadgate London EC2M 2QS

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS LEGAL AND ADMINISTRATIVE INFORMATION Investment powars The trustee$ ¢arry Olrt their responsibilities in connection with safeguarding the investments of the Charity under the power given to them by virtue of stalule. They have drawn up an investment pollcy in accordance wth Charity Commission guidelines and have delegated discretionary Investment management to their managers. The trustee5 monitor the performance of the underlying investments as well as their investment managers. Governing documents Registered charity governed by ils Trust Deeds of 1939 and 1965 as amended.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS CONTENTS Page Trustees, report ststemenl of trustees, ￿SponSIbl11ties 22 Independent auditorfs report 23-26 Statement of financial a¢tivities 27-28 Balance sheet 29 statement of cash flows 30 Notss to the financial statements 31-47

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report and financial statemen15 for the year ended 31 December 2024. The accounts have been prepared in accordance wth the accounting policies set out in note 1 to IIE account$ and cornply wlh the charity's Trust Deeds, the charit￿S Act 2011 and 'Accounting and Reporting by Charities.. statement of Recommended Practice appli¢able lo charities preparing their accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republi¢ of Ireland IFRS 1021. leffective 1 January 2019}. A propO￿on of the legal and administrative infomatbon required to be disclosed within this report can be found elsewhere on the Administrative Details pages of these financial slatementy. Introductlon The Congregation of the Ursulines of Jesus is an international religious order founded in 1802. OLtr total number of sisters now stsnds al 343. this includes 4 novices. The congregation is divided into seven Missionary Realities with France and Italy forming a single Reality. Within the United Kingdom and Ireland IUKIIRLI Missionary Reality there are 32 sisters Itving in 5 communities. The Charity is administered by our Sister Coordinator appointed by our Congregational Leader, and her trustees, who are appointed by our Congregational Leader after consultation wlth the Coordinatoi. The Iruslees consult with the Sister Coordinator who 15 responsible for the government of the Missionary Reality in carrying out the Charity'8 work. She is also assisted by her Consullalive group of two sisters appointed by our Congregational Leader. After consultation with their legal advisors the decision was taken to update the constitution in September 2009. The Trustee 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 tgrms of Canon law, the Congregation is govemed at an intemalional level by the Congregational Leader and her Council in Paris. France. They are ele¢led every five years at a Get)eral Chapter meeting of representatives from all seven Missionary Realities. In preparation for the General Chapter of 2010 as a Congregation we became more awa￿ of life in the different provinces and regions and the evolution of our slatislics. All of this urged us lo look at the structures a view lo nece$$ary changes for lrfe. As already slated in previous trustees reports in the general chapter of 2010 a decision was taken to change our structure.. suppressing the provinceslregions and entrusting lo the General Council. whi¢h consists of the Congregational Leader and her council. the animation and govemmenl of the 'Body Congregation, as a whole. The tem) now given to the different missions is.. Missionary Reality. Following the time of ad experimentum from 2010 to 2022, the General Chapter which took pla¢e in June 2022 I￿0 years late due to COVIDI took the definitive de¢ision to accept this new structure and received approval from Rome. The UKIIRL Missionary Reality is governed by the Congregational Leader and her council. They appoint a sSsler as coordinator, Cur￿n11Y 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 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Governance Icontlnuedl The Coordinator is required to visit each community every year and throughout the year there is a system of accountability, operational throughout the Reality to ensure that the Coordinator and the Trustees are aware of the progress and developrnenl of the ministries carried out by the sisters of the Reality. A visit by the Congregational Leader is made lo the UKIIRL Missionary Reality al least once every five year5. In terms of civil law, the charity is governed by its Trust Deed 1965, amended by the Charlty Commlsslon Schemes dated 1972, 1978. 1996, 1997 and 2007. The Charity Trust Deed slates that the property and income is held UPON TRUST lo apply the same either as capital or income for such charitable purptsses as shall advance the religious and other chaTilable work for the time being carried on by or under the direction of or with the support of the Society as the Trustees wth the approval of the Congregational Leader shall from lime-lo-lime think fit. The Society, as defined in the Trust Deed, refgrs lo the Congregation as a whole. In practice, the Charity advance5 the charitable work of the UKIIRL Reality, although at the same time it supports the Congregation's headquarters in France and ils other overseas branches. As the liustees are members of the Congregation. they have a detailed knowledge of the Charity and its structure. Throughout 2024, trustees made use of various webinars to update themselves regarding Iruslee training and Changes in the Charity Law. Unfortunately. this year we were unable to attend the annual meeting of the Assoaalions of Provincial Bursars. All the trustees, when possible. attend the meetings on investments with UBS ond receive financial reports from Greaves Wesl & Ayre. Those meetings are a very good source of information and keep the trustees up to dale wlh current financial changes, particularly important in this time of uncertainty with the continuing war in the Ukraine, Palestine and the impad on the economy. Trustees are kept infomied by financial experts in UBS of current financial movements and the need for clear strategies in investing. Trustges The trustee5 who served durlng the year were.. Sister Hilary Brown Sister Eileen Ryan Sister Mary M¢Loughney 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 2024 Trustees Icontinuedl Sister Hilary Brown graduated from Llverpool University and laught al Primary level in Liverpool, 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 to Cameroon and In September 2013 was nominated a5 Delegated General Councillor for the UKllreland Missionary Realty. (Appointed as Trustee on 1 September 20131. Sister Mary M¢Loughney after completing her Teachef's Training taught In the private and public sector for 25 years. She has followed courses in 5elf-development, professional and religious development. She was ¢o- ordinator in school and parish based sacramental preparation. Sister served on the Province leadership team from 1996 to 2002. Since 2002. she has been working in various parishes as parish sister. {Appoinled a5 Trustee on 23 September 20081. Sister Elleen Ryan is a Registered General Nurse and trained Midwife. She spent many years In a remote mission station in Bauchi, Nigerla and worked as a community nurse with Haringey Primary Health Care trust for a number of year5. She is a member of the Finance team. (Appointed as Trustee on 07 September 20091. Sister Nora Mary Ryan spent most of her nursing years a5 nurse and midwrfe in a Rural Maternity and Health Centre in Nigeria. On her return she trained in Palliative Care and worked in a London hospice. Lat& having trained in Ignalian 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 of spirituality in a Diocese. IAppointed a$ Trustee on 11 May 20161. Sister Kathleen Curran trained at Royal Infimary Edinburgh as a ￿gIstered General Nurse followed by further training course in Theatre Nursing. In 2002 she had a change of ministry Iralning as a SPRED catechi51 {SPecial Religious EDucalionl, as a Spiritual Director in 2004. then Diploma in Chaplaincy in 200718. Today her ministry is in Spiritual 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 as Trustee on 13 Novernber 20181 STRUCTUREAND MANAGEMENT REPORTING The trustees are ultimately responsible for the policies, activities. and assets of the charity. Various groups of Iruslees meet regularly and there is a formal meeting of all the trustees three times a year. VVhen necessary, the Iruslees seek advice and support from the charity's professional advisers in¢luding property ¢onsullanls, investment manageis. solicitors, and aecountants. The day-to-day management of the charity's activities and the implementation of policies is delegated to the appropriate members of the Congregation. The Finance Team are represented at all financial meetings, both internal and external. including accounting and audit meetings. as well as investments meetings. Assisted by the Missionary Reality accountants they prepare individual, community and reality management accounts and forward projections. Communities are based in England, Scotland, Wales and Southem Ireland

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 WORKING WITH OTHER ORGANISATIONS In ministry. we see the importance of collaborating ¥Mth others, networking wlh organisations, working together in favour of life, solidarity, and justice, sharing our experience, our expertise, and looking al h¢)w we can be more efficjent in responding to present day needs. As our average age increa5e5 and wth less sisters available for ath've mlnistry, we are more than ever conscious of our need lo collaborate with others. Organisations: Justice and Peace Laudalo si Fairtrade Sl. Vincent de Paul Society Projects for the homeless Local organisalions in the areas where we are based Church based groups Collaborating with groups involved in safeguarding Children and vulnerable adults Diocesan based groups.. Catholic Vocation projects SpiritU81 SupportlDireclion RISK MANAGEMENT The trustees have looked at the risks the Congregation currently face5 in the Mi55ionary Reality and have reviewed the measures already in place, or needing lo be put in place. to deal wth them. The Iru$t¥e$ believe that by monitoring reserve levels and by ensuring Controls exist over key financial Systems that all material risks have been idents'fied and mitigated. ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES "Spurred on by the love of Christ we look al the p￿sSing needs of our time in order lo be at the servKe of the life and gTOWth of individuals and groups. ICon8titulions of Ursulines of Jesus). °The Word became fflesh and dwelt arnong us. Jn 1=14. This wonderful news of thè love of God who reaches all people enlighten5 and transforms our lives and we want to communicate this lo our brothers and sisters. Iconslilutions of Sisters of Immaculate Conception). We are also aware In our choice of ministries of our responsibility to work for Public Benefit and lo be available when ptsssible wherever life is threatened. In our General Chapter 2022 we reflected together and discerned what God wants of us today, tsking orientations for the next five years until Chapter 2027. We ¢ontinue to listen. to be aware, and lo collaborate with others so that we can foster relationships that respect the dignity of each person, caring for and protecting life and our common home. We in our United KingdomllTeland Reality lake a realistic look al the changes over the past years.. diminution in numbers, aging, illness bul also al the energy and determination to commit ourselves lo keeping the ame alive that burns within us, lo be aware of what is happening around us and where possible lo be ready to go out Its 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 2024 In detemiining where and how wè commit ourselves we give priority.. lo all that may further the Ilignily, health, and education of human beings lo all that helps in the establishment and growth of Christian communities and lo fostering interfaith relationships to our $o¢iaVpasloral wgrk to ne￿rkIng with groupslorganisations who are working for a more just society. These Pfiorities are expressed in diffe￿￿1 ways.. in education ol children and young people and financially Supporting organisations working for disadvantsged youth • in the fomalion of adults and the social advancement of women in the ¢are of the sick and the elderly in the servSce of the Church, In collaboration ￿th laity in our responsibility lo each other especially our senior and sick slsters. in other forms of mbnislries required by current needs. In all these, we have a constsnl concem for people most in need and those on the Fnargins ol society. We discern our ministries and search where we can best be al the service of the public in response to the new laws of the charity commission. Our outreach goes beyond our homes. touching and belng touched by the lives of many. There 15 a continual awareness of what is happening, where the needs are, bul also an acceplanctt of our limitslions given that our average age is 81 years, while remaining full of hope for the future. Activities and spaclflc objectives As Staled under Mission the acb'vities of the Charity can be divided into three main areas. lal Caring for the members of the Congregation. {bl Social and Pastoral work (c) Missionary involvemen*. Caring for members of the Congregatlon. In common wth many religious congregations 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 KingdornllRL is shown graphically below..

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Caring for members of the Congrega￿Ort Icontlnuedl The Gongregation has an obligation, both moral and legal to provide care for 115 members, none of whom have resources of their own and all of whorn have devoted a significant part of their Ilves to education, nursing, pastoral work, and care of the poor and marglnalised in society. As the age profile of the Congregation increases so too does the neecl to provide increasing and iwreasingly expensive care for the sisters. 25 20 15 10 21k30 70-79 80-89 904 Administration To ensure the smooth running of the organisalion sisters are involved on a day-104ay basi5 in administration. This is on a voluntary basis, and includes finance, 5ecretsrial work, archives, and translating

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Stslla Marfs Convent Stella Maris Convent. Swansea which was rebuilt according to Care Standard Regulations suitable for the care of our elderly slsters was opened in 2005. As lime went on, we have needed the help of more trained lay staff. which naturally has had a knock-on effect on our financial resources. During 2012 to comply with the law in South Wales. steps were taken lo 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 8nd Social Inspeclorale of Wales and a Care Manager was appointed and comrnenced duties on 1 November2012. Stella Maris was officially registered as 'Slella Maris Convent & Care Home. on 12 March 2013. Being registered permitted us to admit 24 clients some of whom were SeNice Users who are not membets of the Congregation ol the Ursulines of Jesus. Financial costs were mel in part by income received from these residents. In 2021 we made the decision to carry out a review of Stella Maris Care Home and the number of care beds was reduced from 24 to 12. By September 2021 the new structure was in place and at the end of October a new manager was appointed who took up post 1 November 2021. As the year closes. Stella Maris Convenvcare Home is home to a community of 22 si$lers. Eleven ol the si$lers live in the registered area together with one pemanenl lay resident, all of whom are cared for by qualified staff as required by CIW. Staff are attentive to the needs of the residents, caring for both their physical and rnenlal health needs. As sisters say, 'Ihe carers are on the watch for everything: they are compassionate; we donl know how lucky we are with a lovely. ¢aring staff., •+

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Stslla Maris Convent {continuedl The sisters spend quality time each day with the sisters in care, being aware of their spiritual need$. They tell us that we have a real home in beautiful surroundings where they feel safe. In September 2024 we welcomed young sisters from Madagascar who al present work in the community and spend time wlh the sisters in care. Sister Hilary Brown is the Responsible Indivldual for the Care Homè. She vlsits and prepares a report for the Iruslees every three months. One sister continue5 to welcome university students from other countries each week for Prayer and the opportunity lo so¢ialise together. Family of the Incarnatlon Following Jesus, Word Incarnate. we want to live, share and promote the spirituality of the Incamation.. it Is our great treasure, the glft we can make lo the world, the Sour￿ of our identity. M1ss￿narypr0jecI ofcongregation 2000. As an International Congregation we continue to share our Charism wlh lay people and lo 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 regularfy with the sister5 10 deepen their Christian commitment and be wtnesses in the areas where they live by their way of life and mission. Vvhen the need arises, they respond by giving of their lime and expertise and work wth the sisters in Ihelr local area. responding lo needs and being Involved in parish aclivilie5. Lay members are increasingly encouraged to tske on responsibllity within their groups and network wth the other groups throughout the Family. We come together as family for prayer and support by Zoom four times a year. Each group meets locally as they decide. Soclal and Pastoral work The extent of the involvement of the sisters in social and pastoral work is oudined later in the Report. Detalls 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 2024 Missionary Involvement tt lls optu our ei'es ro see the misen in our world. the Wounds of so mani. ofollr brother5 aad sisters deprii-ed of digttiN' and let U5 feel concerned io order to hear thelr tallitsg OUT for help" PoPtFxall¢is (ThE Faceof Ileyo.) Since we are an international congregation with sisters in the developing world. we are a￿rt lo ￿edS as they arise and respond to projects submitted lo us. Since the fusion with the Sisters of the Immaculate Conception with the Ursuline5 of Jesus in May 2016 Madagascar ha5 become a new Missionary QUI￿a¢h as many of the sisters, now Ursulines of Jesus, minister lo the poorest people in their country. Their work is in education al all leve15, formation of young girls and women, prison work. supporting families through serioLJS illnesses and enabling poor people with hospital admissions, working with Children of the streets and wherever IheTe is a need. The Missionary Reality of UKllreland sponsor projects in marginalised areas. Throughout 2024, we continued to support the Formation of our sisters in Cameroon and Madagascar. All the cornmunities contribute lo this mission fund and il is our way of helping the sisters to be fomied and then take on ministry. thus helping Ihern with finance In a difficult financial climate. Each year the Intemalional Solidarity Commission meet with the Intemallonal Finance team and dixern together, using Criteria, as to what projects are accepted for funding. As a Missionary Reality we see where we can respond. and we choose projects where our sisters are present and thu$ we can monitor th¢ progress of the project5. In 2024 we conlinuerf to SUPPOrt the formation of our sisters in both Cameroon and Madagascar as they either continued their studies or completed them. In Cameroon the money we Sent helped many young people continue their studies and training. They say that both they and their parents thank us for the support given lo their sludles. Sotne of our support used io cliDiCS and I￿spItal$ to Tetwe I￿1th Those ljeoefited $￿t nords of thath.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Ml$sionary Involvement Icontinuodl In Madagascar wo helped support thè completion of 4 new Classrooms at st Bernadett&'s prlmary school We thank you from the bottom of our hearts for your help. Twenty-two million seven hundred and fifty thousand Ariary Malagasy (22,750,000 MGAI or É5,000 for the school. which I hope will improve the education of the next generation. May God protect you in everything you do. We also supported the Fanazava Association that recycles plasti¢ waste and promotes the production of organic fertilizers. While contributing lo the protection of the environment is enlists the help of disadvantsged farnilies The plastics once recycled can be used a5 walls and flooring The fertilfzers which use straw, household waste. berrnangidy and ¢ow dung are used by the local community lo increase the amount of produce grown. OIKOCREDIT We are happy that for the past 20 years we have invested in Olkocredit and we see by their reports htsw people have been empowered to improve their livellhoods. This is an organisallon which helps people. mainly women, in very poor countries who are not eligible for a bank loan lo gel enough ¢apit31 to start projects. This enable5 them to support themselves and their families and restore their dignity. To date we have invested £40.000.00 in Oikocredil. Oikocredit continues to invest in a future of dignity and opportunty, building sustainable. climate- resilient communities. 10-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OFJESUS TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 This section reviews some of the achievements of the Charity during the year. Publlc Benefit The trustees have re￿iVed and read the guidance document on Public Benefit, issued by the Charity Commission. and have complied with the duty in section 4 of the Charth"es Act 2006 to have due regard lo that guidan¢e. Historically, the work carried out by the charity wa$ always considered to be of benefit to the public. particularly Whe￿ il was involved in providing free education and health as well as a range of other support serwi¢es and care for these in need. Under the Charity Commission's definition of Advancement of Religion, the objectives ol the ¢harily and the achievement of those objectives comes under greater scrutiny. In accordance with its mission and ils charitsble objectives, this section of the annual report of the trustees demonstrates just how the members of the charity, through its sisters in a number of communities across the UKI IRL, live their lives at the seNi¢e of others working for public benefit and common good. Throughout the year the Charity continued to assist the members of the congregation in their religious lrfe and mission. As we look al our realities and pressing needs of our time, we continue to respond In as far as we are able, ever conscious of the most vulnerable in our society. SAFEGUARDING OF CHILDREN AND VULNERABLE ADULTS 'Eversince God became man, we megt with him every human faca. UJ 8ook ofLife No 33 The trustee5 recognise Ihelr responsibility in ensijring that all the sisters are cornmitted to the health, safely and wellbeing of all children and vulnerable adults in their care. They realise the importance of followng the policies, procedures and guidelines for safeguarding in the dioceses where they are missioned. All sisters in ministry and employees obtain certificates, for example from the Disdosure and earring ServFce There is a named sister responsible for safeguarding issues in each of the following countries.. England, Wales, S¢olland, and Ireland. Th¢y understand the importance of keeping up to date by attending training workshops. During 2024 we kept abreast of changes that were taking place in safeguarding, most especially in England, Wales and S¢olland. 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 2024 Small Misslonary Presences We allow ourselves to be impregnated by the Word of God. This is our cenlre, that which unites us and sends us out. "Go out to the whole world and preach thg Good N9WS" We see our eommunilies as small missionary presencès. open to the needs of today and living in collaborallon with others. LNing in this way is being faithful lo the inluilion of our founder, Louis Marie Baudouin who. in 1802 brought together a group of women to help rebuild the church in France after the French Revolub'on. Two of his sayings continue to have meaning for us today= °Take this century 8S the revolution has brougljl it forth" and Women could do n7u¢h in this graal wolk" Since our fusion with the Sisters of the Immaculate Conception In May 2016 we have become aware of the spiritual inluilion of their founder, Pere Pécol and his emphasis on reaching out lo the most marginalised in society. Over the years we, members of the family of Louis Marie Baudouin have tried lo lake each centuryleach age with ils challenges and calls, adapb'ng and responding, when and how we could. As women. yes, we feel we have gifts to share and continue to share them with those whose lives we touch. Taking this 21st century with ils 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 particular people. in a particular part of the Church." Constitutions no. 42. "In the midst of the world, we are called lo a life of adoralien of the Word made flesh. at the service of our brothers and sisters.. Consts'tutions no. 32. Our desire is to continue in Ministry for as long a5 possible. In preparing this Trustees Report we reflected on Who benefits from our work, what impact have we had and How their lives and society as a whole are changed through our Involvement. The following 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 2024 Who benefited from our ministries in 2024 and how it can Chan￿ th&lr lives. As in previous years. on reflection we note ono group who benèfitèd $tands out in partl¢ular and that is th8 eldèrly and housebound. The eldedy 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 ag¢, ￿a¢h out lo the elderly in various ways. Among other groups who benefit are the disadvantaged in $o¢lety. those who are unable lo cope. the homeless, the unemployed, ever on the increase. We have always responded to the needs of the homeless where posslble. There ar¢ disadvantagèd p&ople in all areas where we are Inserted and our sisters who work in collaboration with others are aware of their needs and respond when possible. In London. our community in Bethune Road, Stamford Hill. Sister Kathleen Roberts continues to reach out to the housebound who are elderly and vulnerable in their own homes as well a5 Vlslting Care Homes. Visits are always welcome as so many elderly people live alone. She is a listening ear for carers as well 3$ she recogni5es their lack of numbers but their quality of care. Sr Agnes continues in small measure vocation ministry with accompaniment for young people on a one-lo-one basis. She has had lo step back from more involvement a3 she is now the realty secretary which tak￿ up a great doal of her time. As a community they have been able to join with their Parish and help finanaally to ltsok after the homelesg. They attend parish meellngs, involving themselves in the parish outreach. They take time lo meet. greet and chal with those they meet on 8 daily basis. Thelr door is always open Its parishioners and neighbours who ¢all in for '# chat,. Our sisters in Sword$. 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 to offer support with food, clothing and finance where necessary as well as spiritual well-being. They vis11 the elderly and sick in their own homes. Thelr school support for the sa¢ramenlal preparation of the children continues in both the local sch￿18. The sisters say. 'Through our Ilving Ouf spirituality, our trust In God and willingness lo help others we continue lo live our mission to the people as well as we are able., In September, due to the frailty of our sisters we closed our house in Swords ￿th the 515ters momng lo Swansea and London. The parish and the local community were sad lo see them leave. wTrrlsh ul *¥?¥ 13-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Sl 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 collaborates with the different group5 and ¢ullures within the parish being a member of the Parish Team and the safeguarding subcommittee to the Trustees of the Diocese. Continuing her worf( wth sacraniental programmes and developing the prayer life of parishioner5 and groups. She also takes time lo visit the housebound and reach out lo the mults'¢ultural groups wthin the parish to make them feel welcome and offer any help that she can to them. In the Ar¢hdlocese of St Andrews and Edinburgh.. Life in Rumford and beyond: Life in the parish 15 full of hope and joy as we meet and greet one another especially wth a cup of lea or coffee after all Masses in the week either in the house or in the hall. Al limes il has not been easy within parish life bul we take lime to talk and to listen to one another and this has been a great support for all in the parish. With some of our par¢shioners now elderfy and either housebound or in care homes we are going out to them on a regular basis to take communion lo Ihern and to spend lime having 'a chat.. Our inlerparish prayer group continues on a monthly basis and those who ¢an no longer come because of age and frailty receive the prayer 50 that they Can sb'll feel part of the group. Vve have some new members which brings us new life. People who search and thirst for a mèaning in Ilts bgnefit from spiritual help °Grace Comes from places...from being among people with proximity. slmpllcSty and joy. .wilh the poor who have opened for us paths of life.. UJ Charism Booklet 2013 Sisters who are trained in spiritual direction continue meeting directees either face to face or via zoom. This lime of discernment helps them lo grow in their understanding of themselves, find their path in life and so live wth and reach out to others, Sr Kathleen in collaboration with two others Continues to prepare online courses for spiritual growih. We have decided to ¢onlinue online as we can reach out beyond our local borders. Other Spiritual Dire¢tors have taken up this Coufse and this year we have welcomed people from Canada, America, Spain and Englandl Caring Mlnlstries While all our ministries are caring we mention one in particular. Kathleen continues to work wth young people wrth leaming difficulties as a member of the SPRED team. SPRED - Special Religious Education. Many hours were needed lo ensure that those with such difficultses were not abandoned during COVID. Now we have relumed to our centre and the group of fn'ends and calechists have grown together throughout 2024. This ministry in the diocese continues lo take more hours wi(h ils survival more and more dependent on the volunteer cateehisls giving more hours 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 2024 Young people benefit from sisters who are committed Sn dlfferent fields of Mlnlstry. Putting Financial Resources at th¢ service of Ot￿r$ As we become increasingly aware of our diminishing personnel.. our sisters seek to help projects financially, choosing different areas of need.. The Homeless.. donations to Crisis, who always warmly respond lo our donations. Crlsl$ ro$ponds.' Your generosity means that our Crisis at Christmas guests received hol mea15, welfare companionship. vital care and a place lo stsy over the festive season. You are making a real drfference in people's lives. Homeless Youth through the Do Paul Trust, a trust that has as objectives, to Prevent young people from becoming homeless and to protect those who are homeless. In 2023 they wrote, the rise in young people accessing our many services, a rtse in our cost's and at the same time a lot of normal funding dried up so your support is vital to us to continue running our seNlces'. Medaille Trust One of our solidarity projects is lo contribute annually to Med8ille Trust. This Trust desires a world where the trafficking of human beings for sexual, economic and labour exploitation has been eradicated. The Medaille Trust is a charity founded by Catholic religious congregations lo work for the eradication of human trafficking and to offer support to those who have been trafficked. 11 continues to advance 115 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 self-worth. They say, 'the donations we receive go to work straight away. supporting survivors of human trafficking and modem slavery as they recover from their past and ￿bUIld their futurg.. Age UK and the Maggi& 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 lo know that you are maknng an incredible difference lo people when cancer has tumed their lives upside-down,. Age UK tells us our sUPPOrt enables them lo provide vital service5 to older people in communities across the UK. 15-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 ALR 2024. again, brought about highly volatile equity markets due to factors such as inflation, geopolitical risks and slowing economic growth. Despite this. the Charity had an increase in investment value at the year-end in comparison to 2023. The balance sheet ￿MaInS strong.. as. total assets have increased over the year, mainly as the result of the increase in value of investments. Incoming resources have also increased largely du¢ 19 an increase in investment income. Tangible fixed asse15 accounted for £3,694,024 (down from £3,816,787 in 20231 whilst listed investments lat market value) amounted to £20,773,5921£19,372,518 in 20231. Additionally balances of £2,702.0301£2.594,946 in 20231 were held on deposit. Tangible fixed asse15 consist of land & buildings in the rnost part, many of which were first re¢og)ised in the a￿ountS in the 19805. and have a current market value which is significantly higher than their book value. The trustees continue to review the property portfolio lo ensu￿ that it meets the need5 of the Charlty and is fil for purpose. The undertying strategy continues to be to invest for the longer term lo provide the income necessary lo maintain the charities commitments, which are con51anlly 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 15 Prorerry •Cash OtherAsse:s io 0￿easE￿I=les UK8￿d$ VK Equwes 2015 2016 2017 2018 2019 2020 2021 2022 3)23 2024 Yeai 16-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 INVESTMENT POLICY The trustee5. under advice from their financial advisers and in collaboration with their investment managers, invest the Charity's assets as governed by the Trustee A¢1 2000. The trustees, through a signed agreement. instruct the investment managers to act on their behalf. The objectives of the trustees are lo ensure that the Charity's funds are wotected by: the creation of sufficient financial ￿tUrn to enable the Charity to carry out Its purposes effectively, and wilhoul interruption., the mainlenan¢e land, If possible. enhancement) in real terms of the value of the invested fijnds thilst Ihoy are retained.. managing risk., adopting a totsl return policy where appropriate.. adopting a multi asset class approach, incorporating both collective investment funds and direct investments., and investing in ac￿rdance with the Charity's ethical policy. To ensure that they meet these key objectives, the trustees consider the following principles al all limes.. To address the Charity's needs and those of its beneflciaries.. To take into account the Charity's future needs for both income and capital., To generate income from the investment5 to enable the trustees lo carry out th& aims and objectives of the Charity as sel out In the Trust Deed. Havlng assessed the financi81 needs of the Congregation. Iruslees will agree an annual requirement {the budget) for income and relate Ihls lo the advisers.. To review the investments at periodi¢ Investment Meetings., To compare performance against a relevant benchmaik. wth perlormance figures lo be prepared on a quarterly basis., When evaluating perfomiance. lo balance best results with the taking of undue risk and lo tske account of the whole picture, both income and capital; and To be governed by the principle of prudence, bearing Sn mind the long-tem nature of Charity funds. The risk profile. as defined in our investment management agreement. is con$iilered acceptable. The trustees 8Gcept possible loss as a natural fun¢lion of investment risk incurred in the putsuit of annual total returns that typically range from 7% to 9% on average over the longer term. The degree of nsk is nom7ally reduced through divetslfiGat￿n and asset allocation as well as periodic revisions to rebalance any trxcesses thal develop. ETHICAL POLICY The trustees recognise that. by excluding certain investments, perfomiance and returns may be rn0￿ volatile against benchmark indices which do include those stocks. They have decided, where practicable, lo exclude direct investment in organisalions which are substantially engaged (major activtyl in the following activities". Amamenls and nuclear military, induding whole weapons systems, strategic components and seNice$ - manufacturing or supply., 17-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Ethi¢al policy Icontinuèdl Produc15 or aims which conlliet wllh the "sandity of life. (abortion) - including manulacture, dislribulion. promotion and retsil., Pornography- production., Those delrimenlal lo the environment - including those companies which have the highest impael and that are judged lo be the worst perfomers The trustees also wish to avoid where possible those companies whose main advitles fall into the following categories.. Tobacco and alcohol- irresponsible promokn'on and marketing- Consumer credit., Gambling.. Genetically modffied organisms.. and Nuclear energy. Ethical s¢reening software can be employed by investment advisers and is usually capable of identfying companies whose"m8jorf' 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 'minorf' involvement in these activities. It has been agreed that such companies would not be excluded from direct investment. 11 is recognised that certain wmpanies 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 trustees will discuss periodically wth the investrnenl managers what information can be provided in respect of such collective funds lo periodically review and report on the 511ualion. From February 2017, the direct UK equities arg 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 inclusion tl)in the direct UK equities part of the portfolio. From 2023. following discussion amongst the trustees and their professional advisors, it has been agreed that the European and US equities held within the Charities investment portfolio wll also be selected on Sustainable Investing basis. Resoryes policy Th• Need for Do$ignated Funds As a Religious Order Charity, one of the major groups of beneficiaries are the Sisters of the Order who currently number 32 in the UK and IRL. plus 311 Worfdwde1343 in totsl}. In the UKIIRL province. by whom this Charity was sel up, the average age of the Sisters is 81 years. In the past the Charity's main source of income has come from the earnings of the member8 of the Religious Order and from the operation of schools and a hospital. The Charity no longer directly operates any $¢hools OT the hospital and only a few of the Sisters are still Currently in receipt of salaries. In common with other Religiou5 Order5 any income the members receive Is covenanted lo the Charity. Therefore, the maintenance and retirement care of the eldedy is deemed to be a proper use of the Charity's ftjnds. 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, capltsl or restricted funds. However, sums have been designated by the trustees for specific requirement5 as follow5.'_ All incoming resources arehncluded.in the SOFA when the Charity is legally enlilled to the in¢ome and the amount can be quantified with reasonable accuraw. 18-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 For legacies, enliuement is the earlier of the Charity being notified of an impending distributKJn or Ihe legacy being received. ￿1 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 lo meet ts annual expenditure without the substanlHI income now generated from ils funds under investment. th the increasing average age of the Order this deficit is likely lo increase significanlly over the coming years. As incoming resoLJrces continue lo fall, the Charity will rely increasingly on ils investment income and Capital lo pay its expenses on a year to year basis_11 may, therefore, require need lo designate and ac¢umulale some of ils future surplus income and capital gains. However, working capital and provincial reserve5 will be monitored annually lo ensure that they are not excessive and Ihat action is taken to maintsin their level at approximately one to year's annual gr055 expenditure. Funds total £12,828,61912023. 12,307,957}. This fund has been set up for the maintenance and retirement care of the elderfy and infirm Sisters ol the Order of whom there are 11 al the present lime. The Order as a teaching and nursing Order formerly operated schools, nursing homes and a hospital. These properties were owned and financed by the Charity and many members of the Order worked in these establishment5. Following a decline in the number of members of the Order and, with the majority havlng reached retirement age, Ihe Charity wthdrew from its large schools and hospital. These buildings have therefore been disposed of as surplus lo requirernenls with the proceeds being transferred lo this fund, along with the receipt of lump surns from pension funds which are donated by retlring Sisters who had previously worked. for example. in Ihtt Public Sector. Although few members of tho Order still work in schools and hospitals. the majority work In small communities within various Parishes throughout the UK and Southem Ireiand. Funds total £11,696,447 {2023'. £10,942.5741. Missions Fun The income and capital of this fund is lo be applied for Worldwde Missionary purposes of the Charity, including support for Sisters working in developing countries. emergency disaster relief and other charitable purposes. Funds total £7,80312023'. £36,475). In order to fulfil ils charitsble obleetfves the Charity owns a substantial number of properttes and olhef fixed assets in various localigns principally within the UK, bul also in Southern Ireland. The propertie5 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 assets. 11 is the opinion ol the Irusiees that these assets cannot be realised without undermining the Charity's work, hence the need for this designation. The trustees continue lo review the stsle of repair of these properties, their running costs and their use. Funds lolal £3.694,024 {2023.' £3,816,786). Fund transfers The transfer of £312.007 to the Community Care Fund from the UK I IRL Mlssionary Reality Fund was to support elderly sisters. 19-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Fund tran$f•rs {continuedl The transfer of £55.000 from the UK I IRL Missionary Reality Fund lo the Solldarfty & Mlssions Fund was lo support the missions. The transfer of £28,819 from Solidarity & Missions Fund lo UK I IRL Fund was to support the transfer of Sisters from Madagascar. The £150.993 transfer to the Fixed A5sel Fund from the UK I IRL Missionary Reality Fund was in respect to gains made on disposals less depreciation charged in the year. The £122,762 Iran$fer from the Fixed Asset Fund to UKILRL Missionary Reality Fund was to refiecl the movement in the fixed assets carrying value. The funds held by the Charity are pooled in a common Investment fund. They are allocated appioxirnately 50% to the Provincial Fund which is responsible for funding the day lo day operations of the Order and repairs to ils property. The other 50% is allocated to the Community Care Fund whi¢h is used lo support the elderly and infirm sisters of the Order. The funds are managed externally and the managers have a mandate to generate maximum income for the Order. This is covered in more detail above under the Investment Policy. Ongoing need$ ot the Sisters For many years the Charity has been accumulating Investments towards future funding requirements. These include: The Iruslees ar& continuing to designate inveslrnenl surpluses to the Community Care Fund toward the running of Stella Maris, the home for the elderfy Sisters. which costs approximately £721,600 per annum. In addition. the Communty Care Fund will provide incom& t¢)ward$ the future needs of those Sisters still working in communities. The average cost of an active member amounts to approximately £16,500 per annum, the average cost of a member requiring stsme care amounts to approximately £28,050 per annum and the average cost of a Sister requiring nursing care amounts to approximately £44,000 per annum. With 21 sister5 still working in communities and 11 Sisters Currently requiring nursing care and taking into account some other sources of income. a capital sum of approximately £15.3 Million will ￿qUIre lo be designated in total lo the Community Care Fur￿ to generate annual income to rneel these costs. To summarise, in round figures, the balance sheel' Balance Sheet total Deduct fixed assets Deduct other designated funds Surplus 28,225 (3,6941 24.523 This year's reserves leaves £24.5 million available to allocate towards the £15.3 million required to be designated in the future lo the Communlty Care Fund. Acluarially, this formula is an over simplification. however, the trustees are mindfvl that an accurate calculation would be an expensive exercise lo undertake and it is impossible to predict v4hen andlor if a particular Sister will require more expensive care. The Community Care Fund has had the benefit of a fomial acbjarial review carrfed out in 2000 by 8amett Waddingham, which indicated that funding of £15.3 million would be required for ¢ommunity care purposes. The Community Care Fund has a balance of £11,696,451 at 31 December 2024. 8ased on funding requirements ot £15.3 million. then there is potentially a deficit in fvnding of £3.6 million. The trustees are considering their oplions in order lo try and address this deficit.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Future Plang As a congregatson we look at our present reality. our ￿sources.. personnel and finance and see vthere we can best respond lo the pressing needs of our time. We are constantly reviewing and updating the$e respc¢)ses conscious that in our UKII Reality that our numbers are decreasin9 and average age increasing. While aware of the challenges that our decreasing number brings, the war in the Ukraine, Palestine, the uncertainly of world markets and the fluctuation in the c05t of everyday ne¢essilies. il is still our inlention lo continue lo meet the following objectives.. la} To continue lo care for the sisters and lo enable them to carry out their pastoral work and miiislry, continuing to live in communities as small missionary presences for as lon9 as we are able. Ibl To continue to support the Congregation's work in Africa particularly in Madagascar. Cameroon and wherever there is need and for the trustee5 to satisfy themselves that the funds are applied for their intended purpose. Icl To monitor the needs of the sisters as they grow older and adapt the Charity s plans in resped of property needs and the provision of care lo elderly members. {dl To continue to reflect on the challenges and opportunities of "public benefif and to be in solidarity wtth our world especbally where life is threatened. The Trustees wish to record 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 Kathléèn Curran Trustee Dated. 2.5... 1 -.'1.0 3 5 21

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees are responsible for preparing the Trustees, Report and the financial stslements in accordance ¥Mth applicable law and United Kingdom Accounting Stsndards in¢luding Financial Reporting Standard 102 The Financial R&porting Standard applicable to the UK and R8public of Ireland (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England and Wales requires the trustees to prepare financial 51alemenls for each financial year which give a true and fair view of the slate of affairs of the charity and of the Incomlng resources and application of resources of the charty for that year. In preparing these financial stslemenls, the Irugtees a￿ requirefj lo= select suitable accounting policies and then apply them consislenlly. observe the methods and principles in the Challlies SORP., make judgements and estimates that are reasonable and prudent slate whether applicable a¢¢ounting standards have been followed. subject lo any material departures di￿10$ed and explained in the financial statements.. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting iecords that di$close with reasonable accuracy al any time the financial position of the charity and enable them lo ensure that the financial statements comply w41h the Charities Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They a￿ also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevents'on and detection of fraud and other irregularities. The law applicable to charities in England and Vvales requires the trustee5 to P￿pare financial statements for each financial year which give a true and fair view of the stste of affairs of the charity and of the incoming resources and application of ￿SOurceS of the charity for that year. In preparing these financial slatemenls. the trustees are required to.. select suitable accounting policies and then apply them consislenlly., observe the methods and principles in the Charitie5 SORP; make judgements and estimates that are reasonable and prudent.. stsl& whether applicable accounting standard5 have been followed, subject lo any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going ¢on¢ern basis unless it is inappropriate lo presume that the charity 11 continue in operat(on. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy al any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities A¢1 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also ￿sponsIble for safeguarding the assets of the charity and hence for taking reasonable slep5 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 financkil statements of The Charity of the Congiegalion of the Ursulines of Jesus Ilhe 'charity') for the year ended 31 December 2024 which compTise the statement of financial acliwlies. the balance sheet, the slalement of cash flows and the notes to the financial statements, including a summary of significant aecounling policie5. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndard5, including Financial Reporting Standard 102 The Financial Reportlng Standard applicable in the UK and Republ￿ of Ireland (United Kingdom Generally Accepted A¢¢ounling Praclicel. In our opinion, the flnancial statemenl5'. give a true and falr view of the stale of the charity's affairs as at 31 December 2024 and of ts incoming resour¢es and application of resources, for the year then ended., have been properly prepared in accordance with United Kln9dom Generally Accepted Accounting Practi￿- and have been prepared in accordance wth the Charities Act 2011. Basi5 for opinlon We conducted our audrt in accordance with Inleinalional Standards on Auditing (UK) IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Audilorfs responsibilities for the audit of the financial statements section of our report. We are independent of the tharily in accordance ¥Mlh the elhi¢al 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 ciicumstances set out in note 29 to the finan¢ial slalemenls, and we have ftjlfilled our other ethical ￿sponSIbl1111eS in accordance with these requirements. We believe that the audit evidence we have obtained is wfficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial ststements, we have concludetl that the trustees, use of the going con¢em basls of acwunling in the preparats'on of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or colle¢tively, may cast significant doubl ¢n the charity's ability to continue as a going oncem for a period of at least twelve months from when the financial slalemenls are aLrthorised lor issue. OUT responsibilities and the responslbillties of the trustees with ￿SpeCt lo going concem are described in the relevant sections of this report. Other Information The other information comprises the information included in the annual report other than the finar￿Val statements and our auditovs report thereon. The twstees are responsible for the other infomialion contained within the annual report. Our opinion on the financial slalements doe5 not cover the other information and we do not express any form of assurance ¢onclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially Inconsistent with the financial slalements or our knowledge obtained in the course of the audit. or otherwise appears lo be materially misstated. If we identify such material inconslslencies or apparent material misstatements. we are required lo determine whether this gives rise lo a rralerial misstatement in the financial slalemenls themselves. If, based on the work we have performed. we conclude that there is material misslalement 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 ICONTINUED) TO THE TRUSTEES OF THE CHARif( OF THE CONGREGATION OF THE URSULINES OF JESUS Matters on v*l)ich we are requlred to rèport by exception We have nothing to report in respect of the following matters in Telation to which the Charities lAC￿￿nts and Reports) Regulations 2008 require us lo report to you if. in our opinion.. the information given in the financial stslemenls is inconsistent in any material respect with the trustees, report., or sufficient accounting records have not been kept,. or the financial statements are not in agreement ¥Mlh the accounting records., or we have not obtained all the infomiation and explanations necessary for the purpose5 of OUT audit. Responsibilities of trustees As explained more fully in the statement of twslees, responsibilitie5, the trustees are responsible for the preparation of the financial ststemenls and for being satisfied that they give a true and fair view, and for such intemal ¢onlrol as the Iru51ees detemiine is necessary lo enable the preparation of financial statements that are free from malerSal misstatement, whether due to fraud or error. In preparing the financlal ststemenls, the trustees are iesponsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going ctsncern basis of accounting unless the trustees either intend to cease operations. or have no fealisli¢ alternative but to do so. Auditor's responsiblllties for the audit of the financlal ststements We have been appointed as auditor under section 144 of the Charrtie3 Act 2011 and report in accoTdance wlh the Act and relevant regulations made or having effect thefeunder. Our objectives are to obtain reasonable assurance about whether the finanual statements as a whok are free from material mis5talemenl, ￿ether due to fraud or error, and to i$sue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordan with ISAS IUKI will always detect a material mi55tatemenl when it exists. Misslalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influen the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures aro capable of detects.ng 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 CHARiff OF THE CONGREGATION OF THE URSULINES OFJESUS The extent to Ythich the audll was cons5dored capable of detecllng Irregularities, including fraud Our approach lo identifying and assessing the risks of material misstatement in respecl of irregularilie$, including fraud and non-compliance with laws and regulations. was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate competen￿. capabililles and skills lo identify or recognise non-compliance with applicable laws and regulations., we identified the laws and ￿gUlationS applicable lo the charity through discussions ￿rith Iruslees and other management. and from our commercial knowledge and experience of the charity sector., we focused on specific laws and regulations which we considered may have a dirert material effect on the financial statements or the operations of the charity, including legislation such as the Charities Act 2011 and employment legislation., we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, ¢onlacling the entity's solicitor for any details of non-compliance and inspecting current year legal expenditure., and • identified laws and regulations of particular relevance were communicated within the audit team wularfy and the team remained alert lo instances of non-compliance throughout the audit. We assessed the su￿ept1bIlity of the charlty's financial stslements to material misstslement. including obtaining an understanding of how fraud might occur, by.. making enqurries of management as to where they considered there was susceptlbility to fraud. their knowledge of actual, suspected and alleged fraud., con5iderin9 the internal controls in place to mitigate risks of fraud and non-compliance wlh law5 and regulations. To address the risk of fraud through managernenl bias and override of controls, including any fraud associated ￿th revenue recognition. we.. performed analytical procedures to identify any unusual or unexpected relationships: a review of joumal entries to Idenllfy unusual transacliong., agreed a sample of divldend income to information received from Fund Managers. evaluated the business rationale of any slgnificanl transact￿n$ that are unusual or oylside the normal course of business. -25-

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 respon$e to the risk of irregularities and non-cornpliance with laws and regulations. we designed procedures which included, but wer& not limtted lo.. agreeing financial statement disclosures lo underlying supporting documentation.. reading the minutes of meetings of those charged with governance., enquiring of management as to actual and polentlal litigation and claims against the company., reviewing corfespondence with charity'5 legal advlsors; There are inherent limitations in our audit procedures described above. The MO￿ removed that laws and regulations are from financial Iransaclions, the less likely il is that we would become awa￿ of non-compliance. Auditing standards also limit the audit procedures required to identify non-cornplian¢e with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misslalemenls that arise dL*e to fraud can be harder trj detect than those that arise from error 88 they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11 www.frc.org.uklaudilorsrespon$ibililies. This description forms part of our auditovs report. Use of our report This report is made solely lo the charity's trustees, as a body, in accordance with Part 4 of the Charities {A¢counts anij Reports) Regulations 2008. Our audit work has been undertaken so that we might stale lo the chanly's trustees those matters we are required to slate lo them in an auditor's report and for no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibility lo 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. Greaves We$t & Ayre {Statutory A 17 Walkergale Berwick-upon-Tweed Northumberland TD15 1DJ Dale.. dltorl Greaves West & Ayre is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the CompaniesAct 2006. -26-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Current financial year Unrestrlctsd Unrestricted Restrlcted Tangiblè funds funds fund$ fixed assets general dgslgnat&d funds 2024 2024 2024 Totsl Total 2024 2024 2023 Note5 In ants fro Donations and legacies Charitable activities Investments Other om 166.307 46,770 407,367 235.711 46.200 361.654 6.985 409,003 92,970 769.400 428,399 92.716 637.673 21,145 379 Total incom• and endowments 620,444 643,585 7,364 1,271.373 1.179,933 Ex Raising funds 62,248 62,727 124,975 114,546 Charitable activities 488.080 953.933 62.218 144,178 1.648,409 1.729,221 Other 12 6.815 6.815 Total resources 8xp•nded 550,328 1,016,660 62,218 150.993 1,780.199 1,843.767 Nel gainslllossesl on investmen15 13 814,965 814,965 1.629,930 1,186,420 Net In¢ominglloutgoingl resources before transfers 885.081 441,870 {54,854) 1150,993) 1,121.103 522,586 Gross transfers be￿en fund5 1366.419) 312.007 26.181 28.230 Net movement in funds 518,682 753,877 128,6731 1122.762} 1.121.104 522,587 Fund balan¢es al 1 January 2024 12,307,957 10.942,574 36,475 3.816.786 27.103,789 26,581,203 Fund balan¢es at 31 De¢ember 2024 12,826,619 11.696,451 7,802 3,694,024 28,224,893 27,103.790 The statement of financial activities includes all gains and losses recognised in thg year. All income and expenditure derive from continuing activities. -27-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Prior flnan¢lal year Unrestrlcted Unrestrl¢tpd Restricted Tanglble funds fund$ funds fixed assets general de5ignatsd funds 2023 2023 2023 Total 2023 2023 Notes Donations and legacies Charitable a¢livilies Investments Other 206.518 47,225 335,761 217,600 45,491 301,610 4,281 428,399 92,716 637,673 21,145 302 21,145 Total incomg and endowments 589,504 564,701 4,583 21.145 1.179,933 dit Raising funds 57.949 56.597 114,546 Charitsble aclivllles 577,037 945.337 58,856 147,991 1,729,221 Total resourceg expendad 634,986 1.001,934 58,856 147,991 1,843.767 Net gainslllossesl on investments 13 593,210 593,210 1,188,420 Not incomlnglloutgoingl re$ource$ bgfora transfers 547,728 155,977 154,2731 1126.8461 522,586 Gross transfers between funds 29,263 1.272.239 55,600 {1,357,1011 Net movement in fund$ 576.991 1,428,216 1.327 {1,483,9471 $22,587 Fund balances at 1 January 2023 11.730,966 9.514,355 35,148 5,300.734 26.581.203 Fund balances at 31 D•c•mbar 2023 12,307,957 10,942,571 36,475 3.816.787 27.103,790 -28-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS BALANCE SHEET ASAT31 DECEMBER 2024 2024 2023 Notes Fixed assets Tangible assets Investmants 15 16 3,694,024 23,475.622 3,816,787 21,967,464 27.169,646 25.784,251 Cuff•nt as¥ots Debtors Investments Cash at bank and In han 17 18 14,884 460.251 724,139 12,722 610,165 850.510 1,199.074 1,473,397 Creditors: amounts falling due within one year 19 {143,8271 1153,8581 Net ¢urrenl assets 1,055.247 1.319,539 Total as¥ets less current liablliltès 28,224.893 27.103,790 D¢$lgnated funds Tangible Fixed Assèts Community Care Fund 20 22 3,694.024 11.698.447 3.816.787 10.942.571 R•$trRctsd funds Sotidarity & Missions Fund 21 7.803 36,475 G•nèral Fund UKIIRL Mi8SK)nary Reality fund 23 12.826,619 12.307,957 28,224.893 27.103.790 2 S:1:..1.02 S The accounts were approved by the Trustees on...... SislÈr Eileen Ryan Trn5tee Srsler Kathleen Curran Trustee

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from opgrating activities Cash absorbed by operations 27 {1.139.2271 11,129,209) Investing activities Purchase of tangible fixed assets Pro¢eeds from disposal of tangible fixed assets Purchase of Investments Proceeds from disposal of inveslmenls Investment income re¢eived {37,539} 19.1331 9.309 14.274,094} 4,545,780 769,400 1,366,235 111,381,089) 10.655.469 637.673 Not cash generatsd from investlng a¢tlvltle$ 1.012,856 1,269.155 Net cash generated from financing activities Not {decrea5ellincrea5e in ￿$h and ¢a$h ¢quivalents 1126.3711 139,946 Cash and cash equivalents al beginning of year 850,510 710,564 Cash and cash equivalents at end of year 724,139 850,510

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity information The Charity of the Congregation of the Ursulines of Jesus is an intemation81 religious order founded in 1802. 11 is divided into 7 Missionary Realities supporting 343 sisters and novices worldwide. 1.1 Accounting convention The accounts have been prepared in ac¢ordan¢e with the charity's Trust Deeds, the Charities Act 2011 and 'Accounting and Repf)rting by Charities.. Statement of Recommended Practice applicable lo charities p￿paring their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}. leffects've 1 January 20191. The ¢harily is a PU￿1C Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling. which is the lunctional Currency of the Charty. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been piepared under the historical cost convention, modified to include the revaluation of freehold properties and lo include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are sel out below. 1.2 Going concern At the lime of approving the financial slalemenls, the trustees have a reasonable expectation that the charity has adequate resources to Continue in operational existence for the foreseeable future. Thus the trustees ntinue to adopt the going ¢oncem basts of accounting in preparing the finanaal statements. 1.3 Charitabl8 fund$ Unreslricled funds are available for use al the di$cTetion of the trustees in furtherance of their charitable objectives unless the ftjnds have been designated for other purposes. Designated funds are unreslri¢led funds that have been sel aside by the trustees for particular purposes. Reslri¢led funds are funds which a￿ to be used in accordance with specific restriclions imposed by donors or which have been raised by the Charity for parb'cular purposes. The cost of raising and adrninistering such funds are ¢harged against the specific fund. The restricted income received during the year has been spent on projects in accordan￿ with the roslri¢tion5 imposed. 1.4 Incorne All incoming resources are included in the SOFA when the Charity is legally enlf(led to the income and the amount can be quantified with reasonable accuracy. For legacies. entitlement is the earlier of the Charity being notified of an impending dlgtribution or the legacy being received. All gifts and donations received durlng the year a￿ used lo fu￿1 the Charity's objects. All donations and gifts are accounted for in the year of receipt. Sisters. salarl&s and pensions Members. salaries and pensions are received under deeds ol covenant and are slated inclusive of income lax. but not of any deductions for social security payments or contributions lo occupational pension schemes. Legacies are recognised on receipt or otherwise if the Charity has been notlfied of an impending distribution. the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as contingent asset. Receipts of lump sums from occupational and other pension schemes upon the retirement of members are credited lo the UKIIRL Missionary Reality Fund. 31

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies IContinu8d} 1.5 Expenditur• Expenditure is recogni5ed on an accruals basis as a liability is incurred. Expenditure includes VAT which cannot be recovered, and is reported as part of the expenditure to which it relates. Resource5 expended are analysed as follows.. Costs of raising funds include the fees paid to investment managers in connection with the managernent of the Charity's listed Investments. Direct Charitable expenditure comprises those costs incurred by the Charity In the delivery ¢f ils activib'es and services for ils beneficiaries. This includes both costs that can be allowed directly lo su¢h activities and those costs of an indirect nature necessary to support them. Govemance costs include those costs associated with meeting the constitutional and statutory requirements of the chartty and include the fees 3n¢J ¢osl$ linked lo the strategic management of the Charity. 1.6 Tangible fixed assets Tangible fixed assets are initially meaSU￿d at co$1 and subsequently measured al cost or valuation, net of depreciation and any impairment losses. Ftxed assets are capllallsed at cost, though assets below the value of £100 are not capilalised. Depreciation is provided al rates calculated to wrtte off the cost or valuation, less residual value of each asset over ils expected useful life, as follows.. Freehold Land and Buildings Leasehold Land and Buildings Furniture and Fittings Computer equipment Motor Vehides 2% Straight Line 2% Slraighl Line 15% Reducing BalancelSlrai9hl Line 33% Strai9hl Line115% Reducing Balance 25% Reducing Balance Land and buildings were professionally valued in 1989. They are held in the balance Sheet at that value. Donated assets - are capitalised at the estimated value at the lime of their receipt. All assets are reviewed regularly for impaimient and written down lo their recoverable amount, where necessary. Heritage as5els - the Charity owns a small number of historical artefa¢ts which have all been received as donation someb'me in the past. The trustees do not consider that reliable Cost or valuation infomiation can be obtained easily for the items held, mainly because of the lack of comp8rable market values due to their unlque nature. The 8rtefa¢ts are on permanent loan to a museum. so the￿ are few costs associated with the preservation or security of these assots. The Charity therefore doe5 not recognise these assets on its Balance Sheet. 1.7 Fixed asset investments Fixed asset investments are shown at their mid-market value as at the balance sheet dale. Both realised and unrealised gainslllosses} are taken to the income and expenditure account and SOFA. 1.8 Impairment of fixed assets At each reporting end dale, the Charity reviews the carrying amounts of ils tsngible assets lo delemiine whether there is any indication that those assets have suffered an impairrnent loss. If any such indtalion exists, the ￿COverable amount of the asset is estimated in order to detemine the extent of the impairment loss l)f any).

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢ountlng policies (Continued) 1.9 Cayh and cash equlvalents Cash and cash equivalent5 include cash in hand. deposits held at call wth banks, other short-temi liquid nvestmenls with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilib'es. 1.10 Flnanclal Instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial In51rumenls' and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. wth the net amoun15 presented in the financial statements, when there is a legally enforceable right lo sel oft the recognised amounts and there is an intention lo setue on a nel bas15 or to realise the asset and settle the liability simultaneously. Baslc Ilnancial assets Basic financial as5els, which include debtors and cash and bank baL3nces, are inf(ially measured * transaction price including Iransa¢lion costs and are subsequently carried al amorti5ed c051 using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction 1$ measured al the present value of the future reteipts discounted al a market rate ol interest. Financial assets cla55ified as receivable within one year are not amortised. Basic financlal IITabilities Basic financial liabilities, includirlg creditors and bank loans are initially recognised al transaction prlce unless the arrangement conslilules a financing Iransaclion, where the debt instrument is measured al the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable wilhln one year are not amortlsed. Debt instruments are subsequently carried al amorttsed cost, using the effedve interest rate method. Trade crettitors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classffied as current liabilities if payment is due within 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. Dere¢ognition of finan¢lal liabilities Financial liabilitie5 are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.12 Forelgn exchange Assets and liabllilies in foreign currencies are translated into sterling al the rate of exchange ruling al the balance sheet dale. Transactions in forelgn ¢urrencies are recorded at the average of the rate at the start the year and the rate 8t the end of the year. All differences are taken to the SOFA. 1.13 Government Grants All grants are used for charitable expenditure and capital items and are recognised in full in the ye8r in which they are receivable, or when the conditions for receipt have beon Mel.

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policie$ Icontinuedl 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 accountlng gstlmates and judgements In the application of the Charity's accounting poli¢ies, the trustees are required to make judgements. eslimales and assumption5 about the Carrying amount of assets and liabilities that are not Teadily apparent from other source5. The eslimales and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differfrom these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to a¢counting estimates are recognised in the period in which the estimate is ￿vISed where the revision affects only that period. or in the period of the revision and future periods Whe￿ Ihe revision affe¢ls both current and future periods. Donatlons and legaclos UKIIRL C¢*nmunlty Solidarity & Ml$$lonary Care Missions Reality Fund Fund Fund Total 2024 Total 2023 Donations and gifts Salaries, pensions etc. 19,804 146,503 3.800 231.911 6,985 30,589 378,414 18.156 410,243 166,307 235.711 6.985 409.003 428.399 For the year gnded 31 December 2023 206,518 217,600 4,281 428,399 Donation5 and glfts Donations and gift5 19,804 3,800 6,985 30,589 18,156 Salaries. penslons etc. Retirement pension5 Social security penslons SlipendslBishop 48,725 87,622 10,156 55,649 176,262 104.374 263.884 10.156 117,199 279,015 14,029 146,503 231,911 378,414 410,243

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charitable activities UKIIRL Missionary Communlty Realty Fund Caro Fund Total 2024 Total 2023 Rents receivable Care fees other income 46,770 46.770 46,200 46.158 45.491 1,067 46.200 46,770 46.200 92,970 92,716 Anatysis by fiJnd Unrestricted funds- general Unrestricted funds- designated 46,770 46,770 46,200 46,200 46.770 46,200 92,970 For the year onded 31 December 2023 Unreslricled funds- general Unrestri¢led funds- designated 47.225 47,225 45,491 45.491 47,225 45,491 92,716 35-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Investments UKIIRL Community Solidarity & Missionary Caro Mi$sions Reality Fund Fund Fund Total 2024 Total 2023 Income from listed investments Interest receivable 298,697 108,670 298,698 62.956 213 166 597.608 171.792 537.105 100,568 407,367 361.654 379 769,400 837.673 For the year ended 31 December 2023 335,761 301.610 302 637.673 -36-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Other 2024 2023 Nel gain on disposal of tangible fixed assets 21,145 Raising funds UKIIRL Community Missionary Care Reality Fund Fund Total 2024 Total 2023 Investment management fees 62,248 62,727 124,975 114,546 For the year ended 31 December 2023 Investment management fees 57.949 56,597 114,546 37-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charitabl& a¢tlvltlas House Care home Other ex￿nSeS expenses èxpenditure Total 2024 Total 2023 Depie¢iation and irnpairmenl Repairs and renovations Food Personal House Transportation Province Exterior Personnel Charity Worship Grants lo missions 144,178 144.178 77.907 94,177 98,904 365,620 23,519 6,019 10,659 555,075 16,748 8,743 59,882 147.991 130.284 95,088 102,919 369,674 23,279 6,728 6,646 558,039 15,693 20,058 57,859 77,907 58,468 76,007 231,968 23,519 6,019 7,555 77.338 13,643 8,743 35,711 22,897 133.652 788 477.737 3.105 2,336 59,882 581.165 673,870 206.396 1.461,431 1.534,258 Share of govemance costs (see note 101 186.978 186,978 194,963 768,143 673,870 206,396 1.648,409 1.729,221 Analy$l$ by fund UKIIRL Missionary Funds- general Community Ca￿- designated Solidarity & Missions Fund Tangible Fixed Assets 488,080 280,063 488,080 953,933 62,218 144,178 673,870 62.218 144.178 768,143 673,870 206,396 1,648,409 For th& year ended 31 December 2023 UKIIRL Missionary Funds- general Community Care- designated Solidarty & Missions Fund Tanglble Fixed Assets 577,037 275,765 577,037 945,337 58,856 147,991 669,572 58,856 147,991 852,802 670,569 205,850 1.729,221 Net movement in funds 2024 2023 The nel movement in funds is stated after chargingllcrediting).. Fees payable for the audit of the charlty's financial Statements Depreciatlon of owned tsngible fixed assets Lossllprofitl on disposal of tsngible fixed assets 29.812 144,178 6,815 28,267 147,992 121,1451 38-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Support costs 2024 2023 Basis of allocation Audit fees Accountancy, laxalion and administration fees Legal and professional fees and disbursements Trustees meeting expenses and disbursements Payments to general level 29.812 31,296 37,404 17.797 70,669 28,267 Govemance 54.147 Governance 14.200 Governan 24,100 Governance 74,249 Governance 186,978 194.963 Trustees meetings expenses relate lo attendance of professional advlsers al management and finance meetings. Gieaves Wesl and Ayre, who are independent financial advisors a$ well as Chartered Accountants and Slalutory Auditors, received fees for a range of professlonal Services totslling £89,31012023 £85.9711 11 Employees Number of &mployoe5 The average monthly number of employees during the year was.. 2024 Numbèr 2023 Number Full time employees Part time employees 27 24 31 33 Employment ¢05t5 2024 2023 Wages and Salaries Social security costs Other pension costs 514,509 35,846 4,720 518,674 34.507 4,858 555.075 558.039 There were no employees whose annual remuneration was £60.000 or more. -39-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 0th8r Tanglble Fixed Asset funds Total 2024 2023 Net loss on disposal of tangible fixed gssels 6,815 6,815 13 Net gainslllossesl on invostmants Unrestricted Unrnstrrcted funds funds general designated Total 2024 Total 2023 Revaluation of investrnenls Gabnlllossl on sale of investments 746,459 68,506 746.459 1.492,918 68.506 137,012 795,728 390,692 814,965 814,965 1,629,930 1,186,420 For the year ended 31 December 2023 593.210 593,210 1.186.420 14 Taxation The charity is exempt from taxation on its activitie$ because all its income is applied for charitable purposes. -40-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15 Tanglble flxed assets Freehold Land and Building5 Leasehold Fumiture and Land and Fittlngs Bulldings Computer equlpment Motor V¢hicles Total Cost At 1 January 2024 Additions Disposals 5.738.069 118,791 1.027,564 6,904 1406,950) 27,266 1,406 133,137 7.038,827 29,229 37,539 134,6351 {441,5851 At 31 December 2024 5,738.069 118,791 621,518 28,672 127,731 6.634.781 Depreciation and impairment Al 1 January 2024 Dep￿cIation charged in the year Eliminated in respect of disposals 2,146,260 45.129 889,726 20.093 120.832 3,222,040 114.761 2,376 19.615 2,413 5,013 144.178 1395,7791 129,6821 1425.461} At 31 De￿Mber2O24 2.261.021 47.505 513,562 22,506 96.163 2,940.757 Carrying amount At 31 December 2024 3,477.048 71,286 107.956 6,166 31,568 3,694.024 At 31 December 2023 3,591,809 73,662 131,838 7.173 12,305 3,816,787 41

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Fixed asset investments Listed Investments Cash on deposit Total Cost or valuatlon At 1 January 2024 Additions Valuation changes Disposals 19,372.518 21.967,464 4.274.094 8.774,707 1,629,929 1.629.929 14,502,949) {4,393.5291 {8,896,4781 2.594.946 4,500.613 At 31 Decernber 2024 20,773,592 2.702,030 23,475,622 Carrying amount At 31 December 2024 20.773,592 2,702.030 23,475.622 At 31 December 2023 19,372.518 2,594,946 21,967,464 17 Debtors 2024 2023 Amounts falling due within one year: Other debtors Prepayments and accrued income 72,936 1,748 11,057 1.665 14,684 12,722 18 Current ag$et Investments 2024 2023 Unlisted investments 460.251 610.165 19 Creditors: amounts falling du8 within one year 2024 2023 Other creditors Accnjals and deferred income 113,691 30,136 123,240 30,618 143,827 153,858 -42-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 20 Tangible fixed assets fund Tangible fixed asset fund represent assets whlch are held by the charity. At 1 January 2024 In¢oming re$our¢os Resources expended Transfers At31 Decèmber 2024 Tangiblè fixed assets fund 3.816,78fj {150,9931 28.231 3.694,024 Previous yoar: At 1 January 2023 Incomlng ro$ources Resources expended Transfèrs At31 Decèmbor 2023 Tangible fixed as$ets fund 5.300,734 21.145 (147,9911 11,357,101) 3.816,787 21 Restricted funds The restricted funds of the charty comprise the unexpended balances of donations and grants held on trust subject lo specific conditions by donors as to how they may be used. At 1 January 2024 Incomlng Resource$ rasource$ expended Transfers At31 December 2024 36.476 7,364 162,2181 26,181 7,803 Previous year: At 1 January 2023 Incoming Resources resourc9$ expended Transfers At31 Decembgr 2023 35.148 4,583 158,8561 55,600 36,475 -43-

THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 22 UnrestTi¢ted fund$ - designatsd These are unrestricted funds which are material to the charity's activities. At 1 January 2024 Incomlng re$ources Resources expended Transfers Gains and losses At31 December 2024 10,942,570 643,565 11.016,8601 312,007 814.965 11,696,447 Previous year: At 1 January 2023 Incoming resources Ro$OU￿e$ èxp¥nded Transfers Gains and losses At31 D•¢ombor 2023 9,514,355 664.701 11,001,934) 1,272,239 593.210 10,942,571 23 Unr&strlcted funds The unrestricted funds of the charity ￿mprISe the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These include designated fund5 which have been sel aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2024 Incoming resources Resources expended Transfers Gains and losses At31 De¢èmb¥r 2024 General funds 12,307,957 620,444 1550.328) 1366.419) 814.965 12,826.619 Pr•vlous yèar: At l January 2023 Incomlng rosourcos R•$ources expended Transfers Gains and losses At31 December 2023 General funds 11.730,988 589,504 1634,986) 29,263 593.210 12,307,957

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THE CHARITY OF THE CONGREGATION OF THE URSULINES OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 25 Related party transactions The Iruslees of the Charity are also members of the Congregation and, 85 such, have taken vows of poverty under which they have renounced all personal rlgh15 10 income or eapital. The Charity providey for the essential needs of all members of the Congregation within the Reality. The living costs of the trustees are therefore borne by the Charity. The trustees received no ￿m￿neratIOn or other benefils12023: £Nill in connection with their duties as trustees during the year. No reimbursement of expenses 12023.. £Nil} has been made or is due to be made to any trustee in respect of the year. 26 Glfts In kind The Charity allows one of its properties to be used rent free and a nominal rent 1$ Charged for a second property. The notional value of thls rentsl income, which Is Included within the account5. is £13.401 12023". £13,011). In addition, the Charoty receives considerable 5UPPOrt in the fom of volunteer time given by the 515ters and others. The significant C05t5 of this unpaid lime is not quantified nor recorded in the accounts. 27 Cash gen•rated from oporatlons 2024 2023 Surplus for the year 1.121.103 522,587 Adjustment5 for.. Investment in¢ome recognised in statement of financial aclivilles Los51lgainl on disposal of tangible fixed assets Gain on disposal of inveslments Fair value gains and losses on investments Depre¢iation and impairment of tangible fixed assets 1769,4001 6,815 {137,0121 11,492,918> 144,178 1637,6731 121,145) {390,692} {795,7281 147,992 Movements in working capital.. Ilncrease}/de¢rease in debtors (Decreasellincrease in creditors {1,9621 110,0311 37,682 7,768 Cash absorbad by operations {1.139.2271 11.129,2091 28 Analysis of Changes in npt funds The charity had no material debt during the year. 29 Non-audlt services provldgd by audltor In common with many ¢harities of our size and nature, we use our auditor to prepare and maintain the payroll records and assist with the preparation of charty's financial slalements. -47-