REGISTERED CHARITY NUMBER: 245644
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
roR THE YEAR ENDED 31 DECEMBER 2024
FOR
OUR LADY OF FIDELITY ESTABLISHED AT
UPPER NORWOOD LONDON
Kanni Ran]achandrnn
Kentwell Associates Limited
Beckenham
Kent
BR34HD

OUR LADY OF FIDELITY ESTABLESHED AT
UPPER NORWOOD LONDON
CONTENTS OFTHE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page
Repim of the Trustees
Report of the Independent Audiiors
Stat¢ment of Financial Activities
Balan¢¢ She¢t
12 to 13
Cash Flow Staternent
14
Notes to the Cash Flow Statcment
15
Notcs to the Financial Statements
16 to 27

OUR LADY OF FIDELITY ESTABLISHED AT
UPPER NORWOOD LONDON
REPORT OFTHE TRUSTEES
FOR TIIE YEAR ENDED 31 DECEMBER 2024
The ttustees present their report with the fmancial staiements of the charity for the year ended
31 December 2024. The trustees hav¢ adopt¢d the provisions of Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing theiraccounts in accordance with the
Financial Reporling Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January
2019).
OBJECTIVES AND ACTIVITIES
Objeetlves and alms
The general objects of the business are religious and charitable, in conn¢ction with the advancement of the
Roman Catholic faith JD England and Wales.
Tlie object of the charity is to promote the charitable work of Our Lady of Fidelity and io continue to maintain
and develop theUpperNonvood site. The work of the tNstees during ih¢ yearhas played a very large part in
Setting up the whole sit¢ of the Charity for the ￿ture.
The charity's prin¢ipl¢ a¢tiviti¢$ during the year were the operation of Si Mary's Family Centre at Upper
NoTwood and to conlinue to manage the site and secure r¢ntal income fTom lettings.
Such Charitable purposes which advance the religious, educational and other charitable work carried on in
England and Wales and also in India and Europe or wherever there is a need. This is under the dir￿tiCInor
with the support of the Congregalion of Our Lady of Fidelity: with the approval of tbe SupeTior General,
Getteral Council and the Trnstees and underthe ditEction of theLo¢al Superior.
The Ov¢rnr¢hing Ttust includes..
The buildings of the whole site,
Saint Mary's Lodge
Saint Mary's WelfaTe Cenlre
The Convent,
The top residential section,
The Church and the Indian ProjecL
Public benefit
The Trustees have ¢0n5ultcd th¢ guidance made available by ihc Charity Commission for England and Wales
on the Public B¢n¢fit r¢quirement of the Charities Act 2011. The Trustees are confident that they hav¢
¢omplied with their duty Ltnder section 4 of th¢ Charities Act 2011 An that they have had due r¢gaTd to public
beD¢fit guidance published by the Commission.
Pagel

OUR LADY OF FIDELITY ESTABLISHED AT
UPPER NORWOOD LONDON
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
ACHJEVEMENT AND PERFORMANCE
Charitable Activities and Achievements
Thc tntst¢es consider that the perforniance of the charity this year has been satisfactory. It continues to
develop to meet the needs of the local community. and indicates that through its activities it is achieving its
aims and objcctives. Thc trustees are however monitoring the work of Si Mary's Family Centrc ill order to
ensure future objectives can be met,
During the year tbc charity has wntinued to improvc and maintain the whole site of Our Lady of Fidelity.
including all associated buildings hel￿ to allow an increase in rental income..
The charity has also continued to piovide support to the Order of Our Lady of Fidelity's r¢ligious
CQmmUllities. through the letling of parts of the school and buildings on 51tc.
The main activitics of St Mary's Family Centre are:
l) Social Work Assessment progrnms forfamilies considered al iisk by the Local Authority Social Se￿1¢¢8
Department and the Courts.
2) Private andLocal authoritysupervised contactwork-a facility for supervisedcontaci whereitis imperdtive
that ¢ontact is maintained between parents and children during court proieedings and where long-temi
separation may be an issue.
3) Support for all uscrs of the Centre specifically parents whose learning experiences with regards to
parenting is limited and needs to improve to enable more eff¢¢live parenting.
Investment performance
The Trnst Deed Authorises thetrustees to makeand hold investments using the gcnernl fundsof the charity,
but nosuch investments are prcscntly held, apart from a small coin collection.
FINANCIAL REVIEW
FinAncial position
At 315t December2024, the reserves of the Charity were £15.354,130, with £15,386,125 attributable to
freehold land and buildings.
Thecharity has a net sU￿lUS for the year of £16.931, however this does include £43,672.00 donation from
Our Lady of Fidelity Gcncral Trust to assist with building works on the UppcrNorwood site.
Our Lady of Fid¢lAty Lonvent Upper Norwood Trust re¢eived support during 2023 from Our Lady of
Fidelity General Trust (Charity number 1002216) for capital works and maintenance. however as th
majority of works werecompleted during the year, this support ceased in 2024.
As a result of the building works completed. the Trustees havc secured additional letting iTJcome to support
costs for the near futurc and ar¢ monitoring the level of expcnditure. The Trustees continue to invest in the
improvement and upkccpof the buildings to generate and improve the lettingpotential and future income of
th¢ Trust.
Page2

OUR LADY OF FIDELITY ESTABLISHED A T
UPPER NORWOOD LOIYDON
REPORT OFTHE TRUSTFFS
FOR THE VEAR ENDED 31 DECEMBER 2024
FINATr4CIAL REVIEW
Prineipal funding sources
Tlie Convent is funded by the si5tcrs salarics and pensions. and rental income.
Saint Mary's Lodge receives funds through rcntal income but is an integral part of the Norwood TTh￿t.
The incotue to Saint Mary's Family Centre derives from Par¢nting Assessment and Social work, introduced
by the courts. Income from superviscd Contact work is from Local Authorities and private individuals. Income
is also generated through rental of the Centre facilitics.
The remainder of the income derives from Tnists. donations. local donations and local fvndraising. The
Trust remains itnmensely gratcful to all its SUPPOrters and recognises ihe significance of every donatio
regardless of size.
Thc TTUStccs and Officcrs retnain committed to responding to the needs of the local community to ensure
that the Centre remains relevant. effective and flexible. In line with policy? Ihe Trust has implemented all
recommendations of its auditors. immediately and in full.
Reserves poliey
Thc Charity's policyis to Continue to accumulate reserves in order to finance the Charity declared
objectives.
It is the policy of the trustces to maintain sufficient reserves to ensure the smooth running of the Trust. The
reserves aremaintained at a level io finance the Charity's de¢lared objectives and at present 15 bcing T¢viewed
continuously.
Going concern
During the year, the Trust has received a high donation for one off unforeseen capital works. 'I'he trust
continues to expetiencc somc ccunoJnic difficulties- bowever ihe tnjstees continue to activcly ievA¢w and
monitOF thc financial position of the Trust, and have put into place plans to achieve greater level of income
to support the Trusl in the future. Subscqucnt to the Balance Sheet the level minding from the General Trusl
of ba8 reduced significantly.
The Trust has received the support and is relianl on, Our Lady of Fidelity GenerRI Trust (Charity number
1002216).
The trustees are aware Ihat the finan¢ial position Saint Mary's Familycentre is of concry however costs are
to bc managed in support of the remaining income the Centre generates and the Centre continues to develop
supervised contact work with otherl.ocal Authorities and generate rental income from the Day Care Centre
"Witty Kids"
Considcration has bccn givcn to the continuance of the Tn￿t as a going concern. howcvcr thc Iruslees are
confident that despite economic difficulties. with incr¢ascd rental income geneT4t￿ by ihe TTh￿t and
managemenl of expenditure being Closely monitored, the trustees consider it appropriate to prepare the
financial statements on a goffing concern basis.
Page3

OUR LADY OF FIDELITY ESTABLISHED A'r
UPPER NORWOOD LONDON
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
FUTURE PLANS
The Trustees continue to work to genernte increased income from letting of various buildings aNI oifices
on the Norwood site, to cover the maintenance of the buildings. All residential renthls are managed by
Streets Ahead Estate Agents who take a percentage of the rental income. There is also additional rental
from ihe letting of various parts of St Mary's Lodge, including the new school, under a new 6 year lease,
elTective September 2020 and 7 ensuite rooms, which are rnanaged by the Sisters.
The majority of the building works and renovations were completed at the Nonvood site, following fi￿h¢[
cxpenditure in 2021, apart from a capital commitment of £120,000 for electrical work to the convent
building and New School, which was largely completed, with the final work completed at £46.000. In
2022 £125,000 was spent on pr(w¢rty improv¢m¢nts which included £53,000 on the new car park and
£72,000 on the overhaul of electiic works tu bring Ihc convcnt in linc with current compliance.
From September 2021, two new schools have occupied the fomcr Virgo building￿GothiC building on a 50
year leaseand they are responsible for the refurbishmenl of the buildings, hence due to the extensive work,
no renl will be payable for21 years. The Trust does ￿e1ve an annual rent of £40,000 for a separate part of
the Gothic Building and will no longer be responsible for the upkeep of those buildings, except the roof
(excluding the gutters).
The trustees slill hope io sell a small part of the land to developers in the ￿ture. The land to be sold with
planning perniission for 8 houses. There is also an ¢xciting community project. The value is expected to be
around £700,000.
St Mary's Famil y Centre have continued with their service for Croydon, to provide PaTenting Assessment
and 50¢ial work dnd the Tntst's oificers and Tru5tee5 are confident that strategies are in place for the
continuance of this service. Assessment Work, social worK plus Supervised contact work for other Local
Authorilies and private individuals is also in operation and all incom¢ and costs of the charity are closely
n￿nItored.
The trustees are aware that the financial position of the eharily is of concern.. given the deficil for the year,
however, costs are lo be managed in support of ihe remaining income the Centre generates and the Centre
continu¢s io d¢velop SUP¢Tvised contact work with other Local Authorities and has secured 1 .8 terni rental
income for theearly years premises.
STRUCTUKE, GOVERNANCE Af4D MANAGEMENT
Cvoverning document
The Community of Our Lady of Fidelity, UpperNorwood is governed by trust deed dated I September 1965
asvariedby scheme of 23 Au8ust1990 and is registered with the Charity Commission, Charity Regtstration
No 245644. The Congregation of Our Lady of Fidelity was founded in 1831 and aiNonvood in 1848. The
other communities and works of the Sisters of Our Lady of Fidelity who providethe tNstees are constituted
as separate trusts which are accounted for sepaTately.
Recruitment and appointment of new trustees
Underthe tern￿ of thetrLtst deed, trnstees are appointed by the Mother Superior. The Tn￿teeS have a policy
obtaining training for themselves as and when this is appropriate. Appointment of a trnstee is govemed by
the Trust Decd ut. the charity. The board of trustees is auihorised to appoint new trustees to fill vacancies
arising through the resignation or d¢ath of an Cxisting trustee.
Page4

OUR LADY OF FIDELITY ESTABLISHED AT
UPPER NORWOOD LOIYDOIY
REPORT OF THE TRUSTEES
OR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
GoveTnance
Saint Mary's Family Centre: Secretary-Treasurer- Justin Mu5son, Chairnian- Sistcr Bernadette (Sister S
Davcy)
Parisb of thc Faithful Virgin.. FatherJ Clark
Community of Our Ladyof Fidelity: Superior (accountsble lo Superior Council & General Council-sister S
Davey
The woA( of the Trustees has played a very large part in setting up the whole site for the ￿tUre.
REFERETrICE AND ADMINISTRATIVE DETAILS
Registered Charity numbeT
245644
7ncipal address
Ourl.ady'sClose
Upper Norwood
LONDON
SEI 93FA
Trustees
Father Joy Alappat
Sister Sarah Davey BA
(Hons) William Martin
Sisterm RArakkal
SisterRe¢tha
Koordn
Kall(K)karan
Paulose
Olufemi
Olugbenga
Audilo
AngayarkaY￿l Ramachandrnn
Kentwell Associates Limited
13 Hampden Road
B¢ck¢nlwm
Kent
BR34HD
EVENTS SINCE THE END OF T14E YEAR
Inforniation relating to events since the eiid of the year is given in the notes to the financial statcmcnts.
STATEMENT OF TRUSTEES, RESPOIYSIBILITIES
The trnstees are responsible for preparing the Repirt of the Trustees and the financial statements in
Page 5

accordance with applicable law and United KiTrgdorn Accounting Stalldards (United Kingdom G¢nernlly
Accepted Accounting Practice).
Page 5

OUR LADY OFFIDELITY ESTABLISHED AT
UPPER NORWOOD LONDON
REPORT OF THE TRUSTEF.S
FOR THE YEAR ENDED 31 DECEMBER 2024
STATEMENT OF TRUSTEES, RESPONSIBILITIFS- continued
The law kpplicable to eharities in England and Wales, the Charities Act 2011. Charity (Accounts and
Reports) Regulations 2008 and the provisions of th¢ trust d¢¢d r¢quiteg the trustees io prepar¢ financial
statement8 for each financial year which give a true and fair view of the slate of affairs of tbe charity
nd of the incoming re$ource$ and Application of resources, Including ibe income and expenditure. of the
charity for that period. In pr¢paring iho$e finkiicial ststements, the ttustees are required to
select suitable accounting policies and then apply them ¢onsistently'
observe ihe methods and principles in the Charity SORP.
makejudgements and estimates that are reasonable and prudent"
state whether applicabl¢ accounliThg standards have been followed, subject to any material departyres
disclosed and explained in the financial statement8,'
prepare thefinancial statements on the going concern basis unless it is inappropriate to presume thatthe
charity will continue in business.
The trustees are responsibl¢ for keeping proper accounting records which disclose with reasonable a¢¢ura¢y
at any time the financial position of th¢ ¢harity ayjd to enable them to ensure that the financial statem¢nts
mply with the Charities ALI 2011, the Charity Ac¢ounts and R¢ports) Regulations 2008 and the
provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for
taking reasonable steps forthe prevention and detection of fraud and other irregularities.
Approved by order of the board of iNstees of 3151 July 2025 and signed on its behalf by..
S Davey BA (Hons)- Trustee
Page 6

REPORT OF THE ITrIDEPENDEIYT AUDITORS TO THE TRUSTEES OF
OUR LADY OF FIDELITY ESTABLISHED AT
UPPERNORWOOD LONDON
Opinion
We have audited the financial ststements of Our Lady of Fidelity established at Upper Norwood London (the
'charity') for the year ended 31 De¢emb¢r 2023, which compTiS¢ the Stai¢m¢nt of Fitydncial Activities, th¢
Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of
significant accounting policies. The financial reporting framework that has been applieAJ in th¢ preparation
is applicable law and Unii¢d Kingdom Aecounting Standards {United Kingdom Generally A¢¢epted Accounting
Practice).
In our opinion the financial statementS'.
- give a true and fairview of the state of the cbarity's affairs as at 31 December 2024 and of its incoming
resources and application of ￿￿o￿Tr¢S. for the year then ended.
have been properly prepared in accordance with United Kingdom Generally A¢¢epted Accounting Practice.
havebeeu prepar￿ in accordattce with the requirements of the Chariti¢s Act 2011.
Basis for OPRIiiOD
We conduct¢d our audit in Accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and
appltcable law. Our responsibilities under those standards are furth¢r d¢scribed in the Auditors,
r¢sponsAbiliti¢s for th¢ audit of the financial statement8 section of our report. We are independent of the
charity in accordance with the ethical requirementq thAt are relevant to our audit of the financial slaȢmenis in
th¢ UK, including the FRC'S Etbical Standard, and we have ￿lfIlled our other ¢thical responsibilities in
accordance with these requircm¢nts. We believ¢ thai th¢ audit evidence we have obtained is sufficient and
appropriate to provide a basis for OUT opinion.
Conclusions rel&tillg to going eoneern
We draw yourattention to notel in th¢ financial statements concerning the charity's ability to continue as a
going concern in Telation to the achievement of the cash position and forecast pcrforniance of the
Trnst.
As stated in note I, th¢s¢ ¢v¢nts or conditions, alonB with the other matters set out in note I, indicate
uncertainties exist that may cast doubt on the charity's ability to continue as a going concern. Our opinion is
not modified in respect of these matt¢rs.
Other inform8tlOD
The trnste¢s are respongible for the other inforn)Ation. The other information comprises ihe information
included in the Annual Report, other than the financial statements and our Report of the Independent Auditor5
thereon.
Our opinion on the financial statements does not cover the other informalion and, except to the extent
othenvise explicitly stat¢d in our rqx)rt. we do not express any form of assurance con¢lusion thereon.
In Connection with out audii of the financial statem¢nis. our responsibility is to read the other infornjalion and,
indoing so, considerwhetherthe other inforniation is materially inconsistent wtth the financial statements or
our knowledge obtained in the audit or otherwise appears to be mat¢rially misstated. If we iderLtify such
mat¢rial Inconsist￿tieS or apparent material misstatements, we are required to detcrniine whether this gives
rise to a material misstatement in the financial stat¢ment5 themselves. If. based on the work we hav¢
perfomied, we conclude that there is a material misstatcrnent of this other infonnation. we are required to
report that fact We have nothing to rcport in thisre6-rd.
Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THL'I'RUSI'EES OTr
OUR LADY OF FIDELITY ESTABLISHED AT
UPPF.R IYORWOOD LOP4DON
Matters oll which we are required to report by ex¢eption
We have nothing lo report An respect of ihe following matlers where the Charities (Accounts and Reports)
Regulations 2008 requires us to report to you if, in our opinion..
the inforn]ation givenin the Reportof theTrustees is inconsistent in anymaterial respect withthe financial
statements- or
sufficient accounting records have not been kept. OT
the financial statements are not ill agreemelll with the accounting records and returns" or
we have not received alJ the information and cxplanations we require for our audit.
Re$ponslbilities of trustees
As explained more fully in the Statement of Trustees, Responsibilities, the trnstees are responsible for the
preparation of the financial statements which give a true and fair view, and for such inlernal Control as th¢
trustees detelmine is necessary to enable the preparation of f￿anCIaL ststcmcnts that are fr¢e from material
misstatcment, whether duc to fraud or Crror.
In preparing the financial statements, the trustee5 are responsible forassessing the clMity's ability lo continue
as a going concern, disclosing, as applicablc, niattcrs Iclatcd to going COTk¢ern and using the going coiicern
basis of accounting unless the trustees either intend to liquidate thc charity or to cease operations, or have
no realistic alternative bul to do so.
Page 8

RLPORI. OFTHL INDEPENDENT AUDITORS TOTHETRUSTEES OF
OUR LADY OF FIDELITY ESTABLISHED AT
UPPER NORWOOD I.ONDON
Our responsibililies for the audit of the financial statements
We have been appointed as auditois undei Section 144 of the Charities Act 2011 and rq)ort in &ecordance
with the Act and relevant regulations made OT having effe¢t thereunder.
Our objectives Are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstat¢ment, whether due to fraud or error, and to i$$ue a Report of the Independent Auditors
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with ISAS (UK) will always detect a material misstat¢merLt when it exists.
Misstatemenis can arise from fraud or error and ore considered material if, sndividually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the b&sis of the5C
financial statements.
Explanalion as to whal extent the audit was considtred capable of detectiIL8 irre8ularilies, including fraud
Thc objcctlVC5 of our audit are to identify and as8ess the risks of material misstatement of the financi
siatements due to fraud or error- to obtain Sufficient appropriate audit evidence regarding the assessed risks
of material misstatement due to fraud or error. and to respond appropriately to those risks. Owing to the
inherent limitations of an audit, there is an unavoidable risk thai material misstatements in the financial
statemcnts may not be dctccted, even though the audit IS PToperly planrled and performed in accordance with
the ISA'S (UK}.
In identifying attd assessing risks of material misstatement iti respect of irregularitl&8)Dcluding, fraud and
non-compliance with IAWS and regulations, our procedurcs included the following=
We obtained an understanding of ihe legal and regulatory frameworks applicable to the charity and the
sectQT in which they operate. We detemined that the following laws and regulations were most significant..
the Cbariiies Act 2011.
-we obtained an understandin8 of how thecharity is complyingwith those legal andregulatory frameworks
by making inquiries to the management and trustees. We corroborated our inquiries throu8h our review of
papers piovided to the audit eng&gemenl team.
-we assessed the susceptibility of the Charity's financial statements to material misstatemeni. including
how fraud migbt occur. Audit procedure8 performed by the audit cngagcmcnt teAm included:
a) Identifyingand assessing the designeffecuveness ofcontrols management ba8 Put ID placetopreventand
detect fraud.
b) Understanding howthose charged with governance ¢onsid¢red and addre$$ed the potential for oveTride
of controls or other inappropriate influence over the financial reporting proce8s;
c) Challen8ing assumptions and judgements madeby management in its significant accouJ)tiJ)g e$timates-
d) Identifying and testing journal entries. in particular any joumal entries posTrd with unusual accounl
combin&tion8'. and
e) Assessing the extent of compliance with the relevant laws and regulations.
A further description of our respollsibilities for the audit of the fman¢ial stai¢mentS 18 located on the
Financial Reporting Council's wcbsite at www.frc.org.uk/auditors Tesponsibililies. -rhi.8 de.%cription fornis part
of our Report of the Independent Auditors.
Page9

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
OUR LADY OF FIDELITY ESTABLISHED AT
UPPERNORWOOD LONDON
Use of our repozt
This report is made solely to the charity's trustees, as a body. in accordance with Part 4 of the Charities
(Account￿ and Reports) Regulations 2008. Our audit work hag been undertaken so that we might State to the
charity'8 tnLStees those matters we are Iequired to State to them in an auditors, report and for no other purpose.
To the Most extent perTnitted by law, we do not &ccept or as8ume responsibility to anyone other than the ¢harity
and the chArity's ttustees as a body, for our audit work, for this report, or for the opinions, we haye fornicd.
Angayarkanni Ramachandran
Kcntwell Associates Limited
13 Hampden Road
Beckenham
Kent
BR34HD
Date: .281712025......................
Page 10

OUR LADY Ob FIDELI'I'Y F.STABLISHED A'r
UPPER NORWOOD LONDON
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENI)ED 31 DECEMBER 2024
2024
2023
Unrestricted Restricted
funds
funds
Total
Total
funds
Notes
tNCOME AND F.NDOWMENTS FROM
Donations and legacies
85,335
85,335
Charitable activities
Charitable Ine()me
Othcr trading activities
Investrnent income
213,921
620,498
213,921
620.498
109,629
672,575
Total
919,754
919,754
782,204
EXPENDITURE ON
Raising fimds
7220
7.220
10,180
Charitabl¢ activities
Charitabl¢ Expeiiditur¢
926 974
797 951
Total
NET fNCOME
16,992
16,992
(30,247)
RECONCILIATION OTr FUNDS
Total fund5 brought forward
15,337,138
15,337,138 15,370,516
TOT AL FUNDS CARJiIED FORWARD ￿L0
130 15,337,138
CONTINUINQr OPERA1'10NS
All income and expendilur¢ has arisen from continuing activities.
The not¢b for part of these ftnancial statemenls
Page 11

OUR LADY OF FIDELITY ESI'ABLISHBD AT
UPPER NORWOOD LONDON
BALANCE SHEET
31 DECEMBER 2024
2024
I'otal
funds
2023
Total
funds
Unrestricfrd RestrACto
funds
funds
Notes
PIXED ASSETS
Tangible assets
Investmenis
12 15.118,432
13
3.605
15,118,432
3.605
15,116.032
3.605
15.122,037
15,122.037
15,119.637
CURRENT ASSErs
Dcbtors
Prepayments and accrned income
Cash ai bank and tn hand
14
22,822
1822
71.702
71,702
94,524
94,524
22,554
CREDITORS
Amounts falling due within one year
(55,545)
(55,545)
(66,703)
NETCURRENT ASSETS
2,213
2,213
{44.149)
TOTAL ASSEI'S LESSCURRENT
LIABILtriES
15.075,488
15,075,488
15243,106
CREDITORS
Amounts falling due after morethan one
16
(44,7491
144,749)
(58,070,)
NET ASSETS
15 030,739
15 030,739
The notes foTm part of the financial statements
Page 12
continued...

OUR LADY OF FIDELITY ESTABLISHED AT
UPPER NORWOOD LONDON
BALANCE SHEET- continucd
31 DECEMBER 2024
FUNDS
Unrestricied funds
18
15,354,130
15.354,130
15,337.138
15.337.138
TOTAL FUNDS
Thc linancial
statements were approved by the Board of Trustees and authorised for issue on
At's behalf by:
S Davey BA (HoDs)- TrLlStee
MR Arakkal-'I'rustcc
The notes forn] part of these financial statements
Page 13

OUR LADY OF FIDELITY ESTABLISHED AI.
UPPER NOR WOOD LONDON
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notcs
Cash flows from operatingactivities
Cash generated from operations
Interest element of hire puwhase
paymenis paid
71,7021
11.820}
{1.820)
Net cash provided by operating activities
(69,882)
(24,374}
Cy5h flows from investing
activities Purchase of tangLb2e
Iixed assets
Interest received
(o)
Net cash used in investing activities
Cash flows from financing
activilies Loan repayments in y¢ar
Capitsl repayments in year
Net casli used 3n financing activities
Change in Cash and cash
equivalents in the reporting period
Cask and cash equlvalents at
the beginning of the r¢porting
perlod
Cash and cash cquival¢nls at the end
of the reporting period
4,220
1150)
21554
30,337
71,702
22,554
The notes forni p a rt of the financial siatemenls
Page 14

OUR LADY OF FIDELETY ESTABLISHED AT
UPPER NORWOOD LONDON
NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2024
2023
Net income for the reporting period (as perthe Statement of
Financial Activiti&%)
Adjustmellts for..
Dcprcciation chargcb
Interest re¢¢ived
Interest element of hirc purchascand fmance lease rental payments
D¢¢rease in debtors
(Derrea5e)lincreasein creditors
(71,702}
(22.554)
7,600
(i)
1,820
7,600
(i)
1.820
(55545)- (54,447):
Net cash provided by operations
(35.575) (45.028)
ANALYSIS OF CHANGES tN NET DEBT
At 111124
Cash flow At 3111Y24
Net cash
Cash at bank and in hand
35,682
36,020
71,702
35,682
36,020
71,702
Debt
Financ¢leases
(52.392)
(52,392)
(52,392)
(52,392)
Total
(16.710)
36,020
19,310
The notes forni part of these financial statement5
Page 15

OUR LADY OF FIDELITY ESTABLISHED AT
UPPER NORWOOD LONDON
NO'I'ES 'fo THE FINANCIAL STATEMENTS
FOR THE YEAR EIYDED 31 DECEMBER 2024
ACCOUNTING POLICIES
Basi$ of preparing the financial statements
Thc financial statcmcnts of the ¢harityJ which As a publi¢ benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102)'Aecounting and Reporting by Charities..
Statement of Recommended Practice applicable to clwÉties prcpating Ih¢iia¢counls in a￿ordanCe with
the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102){effective
I January 2019),, Financial Reporting Standard 102TheFinancial Reporting Standard applicable in th¢
UK and Republic of Ireland, and thc Charilics Act 2011. The financial stal¢ments have becn prcpared
underthe historical cost Conventio￿ with the exception of investments whichare included at market
value.
Income
All income is recognised in the Statementof linancial Activilieson¢e the ¢harityhasentitlement to
the funds. it is probable that the income will be received and th¢ amount can be mcasured Teliably.
Expenditure
Liabilities are recognised as expcnditure as soon as there is a legal or constructive obligation
comrnitting the charity to that expenditure, Èl 15 probable that a transler of e¢onomic benefit5 will be
required in scttlcmcnt and the amount of the obligation can be measured reliably. Expenditure is
accounted for on an accruals basis and has been classified under h¢adings that aggregate all c05t T¢laled
to the category. Where costs cannot be dir¢ctly attribuled to partlcular headings thcy have beell
allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
The fr¥ehold land and buildings have been revalued in the accounts since conversion to FRS102 so
is carried at d¢em¢d cost. The freehold land and buildings have not been depreciated as the trustees
consider the value of the Upper Norwood site as recorded in the a¢¢ounts. in¢luding improvements
£15,386.109 to be lower than the last insurdnce valuation. This continues lo be r¢vi¢wed on an
amiual basis and thetruslees are aware that this is a dcparture from FRSIO2.
Taxation
The charity is ¢xempl fyom tax on its Charitable activities.
Fund accounting
Unrestrieted ￿ndScan beused in accordance with thecharitsbl¢ obj¢¢tiv¢s Atthediscrelion ofthe.
Irustccs.
Restricted ￿ndS can only be used forparticular restricted purposes within the objects of the charity.
Restrictions arise whcn spccificd by thr donoT or when funds are raised for particular rcstricled
purposes.
Designated funds are amounls that have been set aside at the discretion of the Trustees.
Grants receivable are credited to the Ststement of Financial Activities in ihe year that they are
reccived. Deferred income representsamountsreceived forfutureperiodsandisreledscd to illcorning
resources in tlie pcriod for which it has been received
Page 16
conlinucd...

OUR LADY OF FIDELITY Ls'fABLISHED AT
UPPER NORWOOD LONDO
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2024
AccouwrtNG POLICIES- continued
Penslon eosts and olher post-retirement benefi*s
The charily operales a defined cotltribution pension scheme. Contiibulions payable to the charity's
pellsion schemeare charged tothe Statement of FinancialActivAties infhe period to which th¢yrelate.
Going concern
These financial statements are prepared on the going conccrn basis which is dcpendent on the
continued support of Our Lady of Fidelity General 'l"rust (Charity number 1002216 and the income
potential of the Trust.
At 31 December 2024. the charity had a balan¢¢ sheet surplus of £15,354,130. with £15.386,109
representing freehold land and buildings.
The trustees have a reasonablc cxpcctation that the chartlywill continue in opcrational existencc for
the foreseeable future assuming the Cu￿Cnt funding levels and some support from Our lady of
Fidelity General Trust.
Conelusion$ rel*tlng to the golng coneern assumptlOD- future performanee of the charity
Thc ¢nJstces have continued to develop new strategics to improve the perforniance of the charity. The
trustees ar¢ confident Ihat ihe n¢w strategies developed in Ihc last few years will continuc to assist in
improving the balance sheet position and surplus of the charity. The current financial position of the
charily is suggesling a slight increase in reserves and the trustees are confident that in spitc of cconomic
difficulties this will be sustained and the position improvcd during 2023, especially given the Gothic
building and forn]erVirgobuildings are now the respon5ibilily ufthe new schools. The final electrical
work rcquircd and other works. will not be cornplctcd until funds allow.
Conclu$ioJ)
Having reviewed the management a¢counls and plans of the charity and having taken into account the
current and forecast performance and availability Df support from Our Lady of Fidelity CJeneral Trust,
thc trustccs bclicvc thcy have reasonable grounds for stating that the charity has adequate resources
to conlinuc in opcrational existence for the foresccablc future and in spite of economic difficultics.
the tnjstees consider, it appropriate to prepare thefinancial statement on the going Concern basis.
DONATIONS AND LF.GACIES
2024
2023
Salaries, Pensions & Benefits
Donalions
Donation from GT
46259
2.958
68,777
69.853
60,908
117,994
130,761
Pag¢ 17
continued...

OUR LADY OF FIDELJTYESTABL,ISIRED AT
UPPER NORWOOD LONDON
NOTES TO THE FINANCIAL STAI'EMENTS - CODtinued
FOR TEIE YEAR EI¥4DED 31 DECEMBER 2024
OTHER TRADING AcfivITJES
2024
2023
Fccs
Other income
Pcnsions inc lump sum
974
202,807
109,629
203,781
109.629
INVESTMENT INCOME
2024
2023
Rtnts received
Intercst received
Miscellaneous Income
597,920
187
672.575
(120)
597,987
672,575
INCOME FROMCHARITABI.r, ACTIVITIES
2024
2023
Activity
Charitable Eixpenditure
Grants
7,220
10,180
Grants T￿elvcd, included in the above, are as follows..
2024
2023
HMRC Covid Job Rctcntion Scheme
Page 18
continued...

OUR LADY OF FIDELITY ESTABLISIIED A'r
UPPF.R NORWOOD LOIYDON
NOTES TO THE FINALYCIAL STATEMENTS- continued
FOR'fHE YF.AR ENDED 31 DECEMBER 2024
RAISING FUNDS
Raising donation5 and legacies
2024
2023
Support costs 2024
7,220
10,180
C14ARITABLE ACTIVITIES COS1'S
Direct
Costs
costs (see
note 8)
Totals
Charitable Expenditure
SUPPORT COSTS
Governance
cosL%
Raising donations ELnd legacies
Charitable Exp¢nditute
7,220
7,220
TRUSTEES, REMUNERATION ANDBENEFITS
Therewereno trnstees, remuneraiion orotherbenefits forthe year ended31 December2024 norfor the
year ended 31 December 2023.
Trustees'expenses
The￿ were no trustees, cxpcnse8 paid for the yeorend¢d 3 1 December 2024 nor for the yearended
31 December 2023.
Pagc 19
continued...

OUR LADY Ob FIDELI IY ESTABLISHED A'r
UPPER NORWOOD LONDON
NOTES TO THE FINANCIAL STATEMENTS _ eontinued
FOR THE YEAR ENDED 31 DECEMBER 2024
10. STAFF cos'rs
Wag¢s Costs forthe group for the year totaled £234.125 (2023 £283,928).
COMPARATIYES FOR THE STATEMEwf OF F￿ANcIALAc￿1VITlEs
Unrestri¢t¢d Resttict
funds
ftinds
Totsl
funds
INCOME AND ENDOWMENTS FROM
Dollations and legacies
85.335
85,335
Charitable activities
Charil&ble Expenditu
7,220
7220
Other Pading activities
Investment income
213,921
620,498
213,921
620,498
Tothl
EXPENDITURE ON
Charitabl¢ activities
Charitsble Expendimre
NET tNCOME
16,992
16,992
Transfers betw¢¢n funds
Net movement in funds
16,992
16,992
RECONCILIATION OF FUNDS
Total funds brought forward
15,337,138
15,337,138
TOTAL FUNDS CARRIED FORWARD
15,354,130
15,354,130
Page 20
continued...

OUR LADY OF FIDELITY ESTABLISHED AT
UPPER NORWOOD LOIYDO
NOTES TO THE FILYANCIAL STATEIIIENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 21124
12.
TANGIBLE FIXED ASSETS
Improvements
Freehold
property
Plant and
machinery
property
COST
At l Janullry 2024
Additions
13,172,105
2,214.004
At 31 December 2024
13.172,105
2.089,004
DEPRECIATION
Ai I January2024
Charge for year
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
13,172,105
2,089,004
At 31 December 2023
13.172,105
2,214,(MM
Fixlures
and
fitlings
Motor
vehicles
Totals
cos'r
At l January 2024
Addiiions
854
24,911 15.276.553
i 0,000
i 0,000
At 31 December 2024
34,911 15,286,553
DEPRECIATION
At l January 2024
Charge for year
854
74,970
7,600
160,521
7.600
Al 31 December 2024
854
7600
168,121
NET BOOK VALUE
Ai 31 D¢Lember 2024
854
27,311 15,118,432
Ai 31 December 2023
24,911 15,116,032
Page 21
continued...

OUR LADY OF FIDELITY ESTABLISHED AT
UPPER NORWOOD LONDO
NOTES TO THE FINANCIAJ. STA TEMENTS - mntinued
FOR THE VEAR ENDED 31 DECEMBER 2024
12. TANGIBLE FIXED ASSETS- wntinu¢d
The freehold propcrty valuation of£ 13,172,105 reflects ownership ofvarious land and propertie5 on
the Upper Norwood site. A property reserve for the same value Is included at note 18. The latest
insurance value of the freehold properties is £45,906,01 O and was carried out by the Insurer on 19
February 2021, which the Trnstees are in agreement with and WAII look to obtain a cutrent valuation in
2022.
13. FIXED ASSET INVESTMENTS
2024
2023
Other
3,605
3,605
There were no investment assets outside the UK.
Investroents (neither listed nor unlisted) wer¢ as follows:
2024
2023
Coin Collection
3,605
3,￿5
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAJi
2024
2023
Other debtors
VAT
22,822
Prepayments and accrued income
Prepaymcnts
22,822
Page 22
conlinued...

OUR LADY OF FIDELITY ESTABLISHED AT
UPPER NORWOOD LONDON
NOTES TO THE FILYANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECLMBER 2024
15. CREDITORS: AMOUNTS FALLING DUE wrrHTN ONE YEAR
2024
2023
Hire purchase(see note 17}
Trade ¢Teditors
Taxation ond social sectirity
Other creditors
22.074
{120)
66.823
44,996
66,703
16.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
purchase {see note 17)
44,996
M,749
17. LEASNG AGREEMENTS
min1￿u￿ l¢as¢paymentS Llnder hirepurchase fall due as follows".
2024
2023
Net obligations repayable:
Within one year
Between on¢ and five years
18. MOVEMENr IN FUNDS
Net
moverntht
in funds
At
31112124
At 111124
Unrestricted ￿ndS
Genernl ￿nd
Development ￿lld
Frechold P￿pertY Reserve
St Mary8 Family Centre
401,552
1,788,041
13,172,105
58,293
28,069
429.621
1.788,041
13,172,105
46.362
(11.931)
15,419,991
16,138
15,436,129
TOTAL FUNDS
15,419,991
16,138
15,436,129
Page 23
continued...

OUR LADY OF FIDELITY ESTABLISHED AT
UPPER NORWOOD LONDON
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
18. MOVEMENf IN FUNDS- continued
Netmovement in fiLnd8. included inthe above aTe as follows..
Incoming
sources
Resourc¢s
expended
Movement
in funds
Unrestricted fi￿d5
General fund
St Marys Family Centrc
736,084
190.037
{708.015)
(201,968)
28,069
(11,931)
926,121
(909.983)
16.138
TOTAL FUNDS
926,121
(909,983)
16.138
Comparativcs foT rnovement in funds
Nel
movement
in fvnds
Transfers
b¢tween
funds
At
31112124
At 111124
Unrestricted funds
Gcncral fund
Development fiu
Freehold Property Reserve
St Marys Family Centre
401,552
1,788,041
13,172,105
58,293
28,069
429.621
1,788.041
13.172.105
46,362
(11.931)
15, 419,991
16,138
15,436,129
Restricted fimds
Thc Tcrry Spac£ynski fimd
TOTAL FUNDS
15, 419,991
16.138
15,436,129
Page 24
continued...

OUR LADY OF FIDELITY ESTABLISHED AT
UPPER NORWOOD LONDON
NOTES TO THE FINANCIAL STATEMENfs - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
18. MOVEMENT IN FUNDS- ci>ntinued
Comparative net movement in funds, included in the above are as follows..
Incoming
r¢sour¢es
Resourccs
expended
Movement
in fimds
UDrcstTiCtcd funds
General fimd
St Marys Familycentre
728.864
206,891
{700.795)
{190.794)
28,069
16,097
935.755
(891,589)
44,166
TOTAL FUNDS
935.755
(891,589)
44,166
A Qu￿1 year 12 months and prior year 12 months combiThcd wsltion is as follows:
Net
movement
in fimds
I"ransfcrs
between
fiTnds
At
31112124
At 111123
UnJcstri¢ted fim(Ls
General fund
Designmled
Development fund
Freehold Property Reserve
St Marys Family Centre
401,552
28.069
429,621
1,788,041
13.172,105
42,196
1,788,041
13,172.105
46.362
4,166
15,403,894
32,235
15,436,129
Restricted funds
The Tery Spaczynski fund
TOTAL FUNDS
15,403,894
32,235
15,436.129
Page 25
continued...

OUR LADY OF FIDELITY ESTABLISHED AT
UPPER NORWOOD LONDON
NOTES TO THE FINANCIAL STATEMENTS - conlinued
FOR THE YEAR ENDED 31 DECEMBER 2024
18. MOVEMENT IN FUNDS- continued
The current year12 months and prioryear12months combined nel movement in funds, included in
the above are as follows..
Incomillg
rcsourccs
Resources
expcnded
Movcment
in funds
Unrestricted fun(Ls
General ￿nd
St Marys Family Centre
1,435,011
396,928
(1,406.942)
{392,762)
28,069
4,166
1.831.939 (1.799.704)
32,235
TOTAL FUNDS
1.831.939 (1,406.942)
32.235
19. CAPITAL COMMITMENrs
At Ihe commencement of 2022. the majority of the building works and expenditure is complete at the
Nonvood site, apart from a Capital commitment of £120,000 for fire panel and associated emergency
lighting. to which a final expenditure of £46.000 is due to be made.
20. RELATED PARTY DISCLOSURES
During the year to 3 l December2021, OurLady of Fidelityconventieceived a donation of £196,861
{2020'. £236,146) from Our Lady of Fidelity General Trust to assist with the building works at the
Convent site. The convent repaid £5,(KK) (2020 .. £40,000) back to Our Lady of Fidclity General Txust
in th¢ ycar, following a donation from the trustee Sandra Dav¢y.
21. POST BALANCE SHEET EVENTS AND GONG CONCERN
The Trustees continue to work to generate increased income from letting of various buildings and
officcs on thc Norwood sitc, to covcr thc maintcnance of the buildings. All residential r¢ntals are
managed by Streets Ahead Estate Agents who takc a pcrccntagc of thc Tcctal income. There is also
additional Tental from the letting of various parts of St Mary's Lodge, in¢luding the new preparatory
school, under new 6 ycarleasc, ¢trective September 2020 and 7ensuiterooms whAch are managed by
the sxstcrs.
The n]ajority of the building woiks and renovaltons were completed at the Norwood site, following
rthcr cxp¢ndilur¢ in 202 L, apart from a capital ¢ommilm¢nl of £120.000 for electrical work to thc
conveni building, and New School which has largely been completed, with the final work remaining at
[46, 000.
From September 2021, two new schools have occupied the fonner Virgo buildingslGothi¢ building on a
50 year leasc and they are responsible for the refu￿1,%hMCn1 of the buildings, hence due to the
extensive WOTK no rent will be payable foT 21 Ye(￿s. The Trnst does Tec¢ive an annual rent of
140,000 for a separale parl of th¢ Gothic Building and will no longer bc rcstKinsiblc for the upkeep
of those buildings, excepi the roof excluding the gutters).
Pagc 26
continued...

OURLADY OFFIDELITY ESTABLISHED AT
UPPER NORWOOD LONDON
NOTF.S TO THE FINANCIAL STA TEMENTS - conttnued
FOR THE YEAR ENDED 31 DECEMBER 2024
21. POST BALANCE SHEET EVENTS AND GOING CONCERN -continued
The ttvstees still hope to sell a small part of the land to developers in the future. The land to be sold
with planning pern]ission for 8 housGs. There is also an exoiting community project. The value is
expected to be around £71K).000.
At 31 D¢c¢mb¢r 2024, th¢ r¢serves of the Charity are £15.365.403. with £15.386,109 attributable to
freehold land and buildings.
St Mary's Family Centre have ¢onlinued wAth their service for Croydon. lo provide Parenting
Assessment ana social work and the Trust's O￿l¢erS and Trnstees are confident that strategies are in
place for the continuance of this service. Assessment Worl Social work* plus Supervised contact
work for other Local Authoritses and private individuals is also in operation and all incomc and costs of
the charity are closely monitored.
The trustees are aware that the finaTJcial p051tion of the charity is of concern, given the deficit for th¢
ycar. howcvcr costs arc kn bc managcd ill support of thc rcmaining illCOllLC thc Centre EeneTates and
the center continuesto develop supervised contactwork with other Local Authorities and has secured
long tenn rental income for the early years premises.
The Charity has continu¢d to ￿Ceive support from Our Lady of Fidelity General Trust (Clwity number
1002216) for capita] work and mainlcnancc during 2022, but this has now ccascd as building works have
been ¢ompleted.
Pagc 27