Chariry regisrdtion number: 250451 Daughters Of Our Lady Of Good Counsel And St Paul Of The Cross Annual Rqmwt aThl Fi￿anCia] StrtemeTtts for the Year Ended i I t)ecernber ?024 Daughters Of Our Ladv Of Good Counsel And St Paul Of The Cross Contents (eontinued) Reference and Administrarive Details Trustees, Repon ?104 Statemefti of Trustees, Responsibilities Independent Exarninerfs Report Statement of Finaneial Activities Balartce Sheet Notes to th¢ FiEwicial Sthtements 91018 Daughters Of Our Lady Of Good Counsel And St Paul Of The Cross Reference and Administratii"e Detai15 Trustees P Foreman H Thotnpson M Short P Dontsn Charity Registration Nllmber 250451 Prin¢ip¥l I l Ruscoe Road Victoria Docks London E16 IJA llldependent ExaTniner Hodson & Co WiAon House I Wisioo House WorthiDg West Sussex BN14 7QL Daughters Of Our Lad). Of Good Coullsel And St Paul Of The Cr055 Trnsttts, Report 'rhe trustees present the annual report 108ether ￿lth the fmancial swements of the chariry for the year ended 31 December 2024. Objective5 and a£tiiitics Objects The principal objective of the Charity is the advancement of the Roman Catholic religion. Public benef The chall￿$ main activities tocus on counselling and underraking charithble works to fijrther the charitable purpose of the chgrity and for the public benefit. The trustees confsrni Ihai they have complied with the requiretnents of section 4 of the Clwiiies Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Financial reTrie Policy on reservtS The m￿leeS continue to review the fmanrial afFairs of the chariN with the aim to 1￿Crease incorne. and to improve control over costs and its QF¢ratIo￿. It is the policy of the clwiL> to hold in reserve a sum thai would cover total annual running expeDses. Unrestricied funds were mal[￿al[*d at least this l¢v¢l throughout the year. The truslee5 consider that the present level of fimding will be adequate to SUFWn the continuation of the charity and for it lo fulfLI its obligaitons. Invuthienlpollcy objeclivc¥ The objecis of the charih. authorises it w Inv￿ and dedl with monies immdiat¢ly rcquired for lis purpose5 in and upon such ini'estments. securitie5 and propetTh' as may be thouJo i fiL The th]siees have an eihical inve5tsnent policy that the fund managers are oblioed ro comply with. The irnstres have cgnsidered ihe njosi appiopriaie policy for investing and have found ihat ihe investments shown in note 13 of the accounts meeis their requircments to generate tK)th income and capital in accordance with the ethical investsnent policy. The tnJ5t¢es are satisfied wilh the pertomwice olthe inve5ttuents during the year. Going eoneern The charity has re850nable expectslion tha( it has adequare r￿UrCeS io continue in operational exisience for the foreseeable future alld belieN'e ihat there are no maietial un¢¢rTainlies thai ￿17 into the charl￿5 ability" t¢) continue in operaiion. Accordingly, the accounts have been prepared on the basis thal the chatily 15 8 going concern. Struciurt, governanee maDagem¢Nt oJgoverning documenl Th¢ Daughte￿ of Our Lad) of GOLNJ Counsel and St Paul of the Cruss IV(Kation Sisters) is a charity established by a Trust Deed dated li June 1967 and is registered with the Chariiy Commissi(K) of England and Wales (no. 250451). Daughters Of Our Ladv Of Good Counsel ADd St Paul Of The Cross Trnstees, Report (continued) RecrNilmenl&nd&ppoinimeiil of1rn51e£s App)inllnent of trusiecs is govemed b)" the Trust Deed of the charl￿. The Trn￿eeS ar¢ authorised io appoint new trust*S IL) fill vacancies arising thFoutsJ resignaiion or death of an exi51in8 trustee according 10 the Trust D¢ed. All trust¢es are alread}. familiar with the practica] Work of the clwity. If n¢w tNsiees were to be appointe(L short tra1ft￿g 5¢S5ions would be und¢rtaken io familiari5e ncw ￿￿stee5 with the charity and the context within which it operates. Orgonisailonu151rucÈure The charity is organi5ed so that the tru4ees meet regularly w manage its affau5. Major rAsks &ndmon4genMii ofihose risks Risk.VapTagement The ttTrstee5 activelv review ihe major risks ihai the charity faces on a TrLryiar basis and believe that mainraining reserves at currellt levels. combined M'ith the annual rewew of the COntro15 over ke￿ financial systems. will provide SU￿]¢]ent resources in (he event of adwerse condÈiion5. The ￿￿$tec5 have also examined other operational and business Tisks faced by the charity and confirni thai thev have established sjsiems io mitigate the significdnt risks. Page 3 aughters Of Our Ladv Of Good Counsel And St Paul Of The Cross Trnstees. Report (continued) The aJ)nual report w&$ approved by the trustees of the chariry ￿ 27 (ktobeT ?025 alld siglled on its behalf by.. P For¢maA Twtee H Thompson Trustee Page 4 D2ughteT5 Of Our Lady Of Good Counsel And St Paul Of The Cross StatemeDt of Trustees, Responsibilities The trustee5 are responsible for preparing the tru%tees' rewrt and the fiDancial stateTnents in accordance with the United ￿ngdorn Accotjnting Siandards (United Kingdom Generally A￿¢￿ed Accountin" Practice) and applicable law and regulations. The law applicable to charities ￿qUireS the ￿5[ee5 to prepare financial sttrements for each financial year thich give a trne and fair view of the stAtc of affair5 of ihe charity and of the incoming resources and application of resources of the charitv for th￿ p¢riod. preparing these fu]amcial swements, t￿Slee5 are requityd io.. select suitable a￿ountIng policies and then appl>. con5iStently; observe the methods and principles tn (he Charities SORP" make judgements and t￿lmateS that are reasonable and prudent, slate whether applicable accoun(ino standard5 hak¢ been follow'e￿1 IleglllatiOll5 2008 other than aos requiremeni thai the accoLJnts give a "tsue and lair view which 15 noi a tnatter considered as part of an independent examination. I have no concerns and have come across no other tnatter5 in co[￿eCtion with the ¢xarnination to which attention should be drawn in this rep￿ in order to enable a proper understanding olthe a￿oUnts to be leached. Matthew HodsorL FCA Independent Examioer Wision House I Wision House Worthing West Sussex BN147QL 27 October 20?5 Page 6 Daughters Of Our Ladv Of Good Counsel And St Paul Of The Cross Statement of Financial A¢tii'ities for the Year Ended 31 December 2024 Totsl 2024 Unrestrieted Not¢ Income and EndowmeNt5 frorn: Donations and leqa¢i¢s Lnvestnient income 33.911 40,005 33.911 40.IMTri Total Income 7j.916 7i.916 Expenditure on: Charitable activities (138,883) (138,883 Total Expen(bture Ga[￿￿1055¢S on investment assets ( lJ8,883) (138,883 N¢t movement in fund5 {42.768) {42.7681 Reeoneiliation of funds Total funds EKought lorn'atd Total ￿lld$ carried f0Th7rd 2,142,176 ? 142,176 ?.099,408 Ullrestrieted funds ?.099,408 Total 2023 Nole Income 8ttd Indowm¢uts from- Dotsation5 and legacies Investment income Other income 45.291 45,291 34,432 i7,911 i7.91 TO￿ incixne 117.634 117,634 Expenditure on: Chariiable activities (117,831) 117,831 Total expenditure Gainsq055es on inv¢snneDt assets (117,8311 i9,&19 1117,8il) 39.649 Net income 39,452 39,45? Net movenent in funds 39.45? 39.45? Reconciliition of funds Total ￿lld8 broughE forward ? 102,724 2.107,7?4 Totsl fi￿dS ca￿led forward 17 2.14? 176 2.14? 176 All of the charity'5 activit1¢5 d¢rive from continuino operaiions during the above two t￿1¢x[S. The funds brvdkdown for 2023 15 showTr in note 17. The notes on pa(Tcs 9 to 18 form an integrnl part of th¢sc financial statements. Page 7 Daughters Of Our Lady Of Good Counsel And St Paul Of The Cross {RegistratioD Dumber: 250451) Balan¢e Sheet as at 31 December 2024 2024 2023 Note Fixed assets Tantsible assets tnvestlljet 8fj9,(￿) 837,452 883,305 81i,252 13 1.696.514 1.698.557 Curr¢￿t assets Debtors Cash at Imnk and in hand 14 2.681 403.051 443.657 405.73? 446.385 Creditors: Amounts falling due Thithi￿ one year 16 2,8i81 (2,766 Net clrrent 40? 894 443,619 Net assets ?,099,408 2.142.176 Funds ofthe charity: Unrestricied inetyme fund$ Ullreslricted funds 2,099,408 2,142,176 Total funds 2.099,408 2.14? 176 Th¢ finarKial statements on pag¢5 7 to 18 ￿r¢ approvcd by the trust¢cs, and authorised for issue on 27 October ?025 and signed on iheir behalf by-. P Foreman Tru5tre H Thom Trustre The noies on pages 9 to 18 forni an iniegral part of these financial statem¢nts. Page 8 Daughter5 Of Our Lady Of Good Counsel And St Paul Of The Cross Notes to Ihe Financial Statements for the Year Ended 31 December 2024 l Accounting policie5 Statement of compliance The r]nancial state￿ents have been Prep￿ in accordance M'ith the second ediiion of the Charilies Statemelll of Re¢oTtunended Prartice issued tn October 2019, the Financial Reportin(T Ststyjard applicabl¢ th¢ United Kingdotn and Republic of Ireland IFRS 10)) and the Charitie5 Act 2011. Basis of prtpar2tion Daughters Of Our Lady OE Good Counsel And St Palll OlThe Cross meets the def]nition of 8 wblic benefit entity under FRS 102. The accounts (ffinancial staternenrs) have been prepared under the histori¢ai cosi conventitsn ￿7th items recognised at cost or transaclion ialu¢ unless otherwise ststed io the relevani not¢(s) io these accounts. The fmancial staiement5 are prepared in sterlin& which is the fillKuonal curreocy of the elltity. Going eoneern 1The f￿anCIal stslements have been prepared on a going concem basis. The trustees have considered ihe relevant infO￿all0￿ including the future cash flow'5 and the irnpacr of subsequent e￿ents ￿ making their assessment. Based on these asse5Stllen15 and having r¢gard io the resources available. the truste￿ hai'e concluded thdi there is no material uncertainty and that they can continue to adopt the goin8 concem basis in the financial statements. Judgements The preparation of the f￿ancial shilements requires man4uement to make j￿rg￿en& estimates and ￿SuMptiOnS that affect the amounts reported. These ¢stimates and judgetneDts are ￿l[lnuall5, reviewed and are based on experience and other f￿tOrs, includin(p expectations of fijture events are beliefved 10 be reasonable under the circumstallce& Critical accounting esiimatcs and assumption5: d¢prKiaiioD aDd usefijl life of properties estimation of the useful ¢¢onomic life of propertv and an esill￿e of land apport10T￿ent. Where th¢ charity makcs estimates and assumption5 concerning the fijtutt, the resulttng accouniing estima￿ 2nd a55UmPtions will. by definition. seldom equal the related actual results. this requires an Income ajtd endowments Voluntary incorne including donations: gifts. le¢acies and grants that provide core knding or are of a general nanjre is recognised when the charity has enlltleffteni to the income: it is probable thai the iEJCOTne wll be received and the amount can be measured wilh sufficient reliability- Donotions and legaci Donations &nd legaci¢5 are recognised on a receivable basis when receipt is PTobable and the an]ount can be reliably measured. Page 9 Daughters Of Our LadTr' Of Good Counsel And St Paul Of The Cross Notes to the Finan¢ial Statenients for the Year Ended 31 December 2024 (continued) Exptllditure All expenditure is recognised once there is a legal or consmictive obli￿lOn to ibat ext*ndinJre, it is probable settl¢ment is required and the amouni be tD&isured Teliabl}'. All costs ate allovatrd to the applÈcable expenditure heading that aggregate sllnilat costs to tbat caiegi)ry'. Where costs cannoi k direcily attribu￿d 10 partiLular headin¥s they have been allocated on a basis Coftsisieni with the use of resources. These are costs incurred in attracting voluntsry tDcom¢, th¢ management of investments and those incurred in tradino actiVilTes ihat rdise funds. Chixrilable ddiviiies Charitable expenditure comprises those costs incutTed by the charitv in the d¢liv¢ry of its actiiities and services for its beneficiaries. It iKludes both costs that can Ee allocated directly io such activitie5 and those costs of an indirect nature necessary 10 SUPPOrt thenL Support costs All Losts are allocated to expenditure utegories refleciing the use of the res(￿￿. DiTWt costs *￿ibUlab1e io a single activity are allocated directlj to that a£uvity'. Sha￿d costs are aAKIrt￿lled betwee[] the activities they contnTrJute to on a reawnable, justif]able and ¢onsi5trni basis. Governance costs These include the Cosis attributable to the eharity's cornpliance with con4ituiionai and ststutory requireTnents. Includ￿tr llkdependent exatnination and 5trdte8LC management. Tarwble fix¢d assets Individual fLxed ￿Sets are initially recorded at cos( less any subsequent actumula1￿ depreciation and subsequent accU[￿Ulated itrwaitment1055es. Depr¢ciation amortis2tio Depreciation is Provided on rangible fi.xed assets so as io ￿rite off the cosi (¥ V￿VatiOn, less any esiimated residual value, over their expected useful economic lile as folloths- Asset ¢la5S Freebold property fixtures and fittings Motor vehicles Equipmeni t)epre¢iatioll rllethod and rate over 50 vears 15% reducing balaTbce OVLY 4 )ear5 over 5 ye Page 10 Daughters Of Our Lady Of Good Counsel And St Paul Of Tbe Cross Notes to the Financial Statements for the Year Ended 31 Deeember 2024 (continued) Impairment of rued assets A review for indicato[5 of impai)illenc is catried om at each reportino date, with the recoverable amount being esiimated where such indicati)rs exisL Where the carrying value exceed5 the recoverable amount, the asset i5 irnPa￿ed accordinglv. Prior impairn]ents are also revicwed for p)ssible revelsal at each reporting dale. For th¢ purposes of impairment testing, when it is not wissil)le io esE]m￿e the recoverdbl¢ amouni of an individual a55el, an estimate is made of the recoverable amount of the cash-generating ullit lo which the asset belongs. Fixed asset investments Fixed asset investjnents, tsther than programme related lnvest1nen￿, are inclu¢kd ai n]arket value at the balance sheet date. Kealised gain5 atkd losses on invesnnenrs are calculated as the difference between sales proceeds and their market value at the Start OF the year. or their subsequ¢nt ¢OSL and are charged or credI￿j to the Siatement of Financial Activitie5 in the ￿ri{￿J of disposal. Unreali5ed gains and losses represent the movemenl in mat*et Yalues during the year and are cwiited or charged io the Statement of Tr inancial A¢tivtties based on the market Yalue at the year en Fund 5trnet¥re Unre5tricled incotne fvnds are general filnds are available for use ￿ the mistees discretion in fitrtherance of the objectives of the charity. Desigjaied fifftds are unrestricted funds eam￿ked bv the tn￿teeS for particular fijture project or comtnitment. R￿trIcted l-LEnds are subJ￿ied ro restriciions on Their eX￿ndi￿re declared b! d¢)nor or Ihrough the ierms of an appeal. and fall into one of two sub-classes: restricted income fi￿d5 or end0￿￿ent fi￿d5. Finalleial in51rumeNts ClaMifieolioR The charity onlv has financial assets and financial liabiliies of a kind that qualify. a5 basic fu￿nCIal instruments. Basic fLnancial instrumenis are intially recognised ai transaLYion value and subseqllently measured ai their settleTnent 'alue with ihe exception of bank- loans which are subsequenily ffl￿ured ai amortised c05t using the effective inreresi meth(Ml. 2 Incollje from donations and legacies Pagell Daughters Of Our Lady Of Good Counsel And St Paul Of The Cross Notes to the Financial Statements for the Year Ended 31 De¢¢mber 2024 {continued) Unrestricted fllnd5 Genernl Total 2024 Total 209J t>onations and legacie5' Donations Legacies PeDsiolls 250 ?50 100 1,281 33,910 33,661 45.291 3 Inveslment iDcome Unre5trieted funds General Total 2024 Totsl 2023 Interesi receivable and similar income- Int¢resi receivable on baTJk deposits 40.00_- 40.(K)5 4 0(her income Total 2024 Total 2023 Gains on Sale of tangible f]xed ￿￿15 for ¢han"ty'S owl use 37,911 Page 12 Daughters Of Our Lad). Of Good Counsel And St Paul Of The Cross Not¢s to the Financial Statements for the Year End￿ 31 December 2024 {coDti￿Utd) 5 Expethditur¢ on charitable 4clivities UDrestrieted Total 2024 Total 2023 GeDeral Note Community account Allothd sUPPQrt CQsts Govemance costs 52.050 83,991 2.842 52,050 83,991 2,842 43.850 71,077 138.883 138.883 117,831 £138,83912023 - £117,8i l) ofthe above ex￿ndItUre was attributable to unRstrKted fuDds and £nil12023 £nil ) to restricted funds. 6 Analysis of%ov¢rnan¢e ¥nd support eosts Governance costs Unrtstrieted fund.s General Total 2024 Total 2023 Independent examiner fees Examination of the financial swemet]LS Other governarLC¢ costs 2,777 70 2.772 70 2.628 276 2,842 2,904 7 P4¢l incotningloutgoing resources Net ouigoiog r¢soutces for the }'ear include= 2024 202J Gain￿{LO$S¢s) on listrd inV￿tMents 22,199 39,fA9 Page 13 Daughters Of Our Lady Of Good Counsel And St Paul Of The Cross Notes to the Financial Statements for the Year Ended 31 December 2024 (eoDtiDued) 8 Tr￿Stee5 remuntrntioo and eYpeR5es Durinu thc year the chorTty made Ihe follo￿1n0 rrdnsathions with m]stee5." No twstees. nor any persons connected M'ith them, have received anv remuneration froTll the charity during the year. No trusC¢¢s h8vc received any other benefits from the chariry the )'trdr. however see note ?0. 9 costs Th¢ aggregat¢ paJToII c051s were as follows: 2024 2023 The average head count of employees during the year was Nil (2023: Nil}. No employee re¢ei¥¢d emolumenls of more than £60.[￿ during the year 10 Independent examiner's reM￿neratIOn 2024 2023 Examination of the f￿anCIal staremeDts 2.772 2.698 11 Taxatio The charity is a re£isrered charity. and is therefore e.xempt from taxaiion. Page 14 Daugbters Of Our Lady Of Good Counsel And St Paul Of The Cross otes to the Financial Statements for the Year Ended 31 December 2024 (continued) 12 Tangible rued assets tand and buildings Furniture xlld equipment Motor %'ehÉcle5 Total Cost At l January ?024 950.?27 56n7 39264 1,045.718 At 31 December 2024 950 ?27 39264 1045.718 Depreciatio At I january 2024 Charge for the year 83.884 19,IMM 52.585 673 ?5,944 4,566 162.413 24.243 At 31 December ?024 10? 888 30.510 186.656 Net book value At 31 Decernber ?0?4 847.3i9 8.714 859,IkJ? At 31 December 2023 866,i4i j,64? 88). 13 Fixed asset in&eslThents 2024 2023 Other investments 837.452 815?5? Page 15 Daughters Of Our Lad) Of Good Counsel And St Paul Of The Cross Notes tfy the Financial Statements for tbe Year Ended 31 December 2024 (continued) Other investments Listed illTrestrnents Total Cost or Valuatin At I Sanuary 2024 ReV￿Uation 815.252 815.252 At 31 December 2024 8)7 452 837,45? Ntt book value Ai 31 December 2024 837.452 837,452 At 31 DeCe￿ber ?023 815?52 815,252 The above iniesttnents are all in inyesthieni &sset5 held in the UK. All are unrestricted funds. At 31 December 20?4 the investments were £8i7,45? in a Collcetive Invesmient Account with Quil*r Invesbnellt Plarforni LiJniled. Th¢se Invest￿entS are held to provide an investmeni rewrn for the charity. 14 Debtors 2024 2023 Prepayments Other debtors 1.614 1.067 1.661 1.067 2,681 IS Cash and cash equivalents 20?4 2023 Cash ai b* Short4erm deposits jj4.4?6 193.127 ?iO,iiO 403,051 44i.657 16 Creditors: amounts falliag due within one )'e4r 2024 2023 Accruals 2.766 Page 16 Daughters Of Our Lad), Of Good Counsel And St Poul Of The Cros5 otes to the Financial Statements for the Year Ended 31 December 2024 (continued) 17 Funds B818nee at 31 Dvember 2024 Balance at I January 2024 Other reeogtti5ed g3in51(b)sses) Incotning resources R￿0￿rt¢S expeDded UNre5tricted funds General Geller 14? 176 73,91) (138.8 2,099.408 Balanee ai B8lxnce at I Januar%. 2023 Other reeogDi5ed #aiD&lllosses) 31 Decefflber 2023 IBcomiDg resources Resovrces expeDded Unrtrtricted CuDds Generul General 2,102.P4 117.634 117,831 39.649 ? 142,176 18 AnAlys(s of net assets between funds Unrestricted IIiDds General Total funds at 31 December 2024 Tangible fixed assets Fixed a55et investments Current assets CuLTent liabilities 859,06? 837.4 j? 405,73? 12,8)8) 859,062 8i7,452 405.732 2,8)8 Total net ass￿5 2.099,408 2.099.408 Page 17 Daughters Of Our Lady Of Good Counsel And si Paul Of The Cross Note5 to the Financial Statements for the Year EDded 31 December 2024 (CODtinued) Unrestricted runds Genernl Total funds at 31 Lk¢ember 2023 Tangible fixed assets Fixed &ssei invesmlents Cwent assets Curreni liabilities 883,)05 815 ?)2 446.385 883,305 815?5? 446,385 12.766 '] otal net ￿Sets 2.14? 176 ? 14? 176 19 Analysis of net funds At31 Decetuber 2024 At l January FiD2llCiJ)g £85h 2024 llows Cash at baELk and in hand 443.657 (40.606 (40,606 40i,051 Net debt 403.051 20 Related party troThsactioTrs Durintw the year the charity made the following related party transactions: Tbe Religious ComN]unity As a religio￿ ¢onirnunii! anv Éncome r￿cl¥¢d ￿. members of ihe V(￿]M Sisicrs 15 received irtto the chariiy. including salaries and ￿nsions. The charit)" prokides housing and subsistence 10 its rnembers includinLt ￿Slee$. During tFt )ear Ehere Ivere five member5 of the c(Kkgregaiion. FAch memE¢r feCCiViS an itKom¢ for their otTJct iogetber viih liwing JcLommodaiion. livina e*PeE￿ and reimbuT5ement ofcosts. This exp¢ndiiur¢ is 5hoMfft under 'support costs,. At the balance sheei date the amount due tQifrom The Religiou5 Communitif wls £Nil120?3 - £Nil). Page 18