TRL"STEES' REPORT FIN.4NCIAL ST..ITEIIEJTS 31 ALGLST 2023 SISTERS OF CHARITI. OF JF.SiiS AND %IARI' A)GLO-IIU514 PROI'INCE (Regi51er¢d Chariti. Number: 251262) Hai-smacinii're LLP Chanered Accounianis London
SISTERS OF CH..XRITY OF JESI"S.4ND 11.4RI'.4.NGLO IRISII PROI'INCE
TRLSTEES, AI%.NUAL REPORT
FOR THE YEAR EI%DED 31 ALGIST 2023
The Trustees presenl their annual report logeiher 1th the financial statements of the Chariiy,
tor th¢ I'car cndid 31 August ?0?3.
HISTORY AND ORGANISATION
The Sisters of Charit). of Jesus and Nlan. ('"SCJM") is an iniernaiional relig>ious ConLi-reg)ati()n
ot pontitical rig,hi. tounded in Belgium in 180J in the rural district ot- Loi'endeoem. In 1803.
our lound¢r Peier Joseph Triest Il"dS appoinied parish priesi in Loi'endeuem. "Ihe poi'en!.. the
Tnoral dcpraN'ili. Ihc Lri'"ing? nccd tor cducation and carc ol. thL sick spurrcd hiin inlo aclion. In
Jul!. 1804. Ihe firsi Sisiers of Charii!. of Jesus and Man. pronounced Iheir firsi i'oii's and
decidcd Iii d¢1 ()Ic their lil c5 lo 'ihc L(iring ()I'ih¢ p()or and d¢s1ilui¢"
Thc Sisi¢rs gTai"c1¢s5(Ins,
looked atl¢r orphans. and i%¢nt inio lh¢ homes ot"Ih¢ siek and old io car¢ tor ih¢m.
0.cr the next tii'o centuries the Sisters established Tninistries in other countries. The Anglo-
Irish PrO.Ince Has esiablished on 14 OLiober 1968.
Today the Conoregation has around l.JOO Sisiers. M-ho liN'e and M-ork in Belgium. The
Neiherlands. England. Ireland. India: Pakisian. Sri Lanka. Philippines. The Dem()Lraiic
Republic of CongFo. Mali. Burundi. Riiand& and Vietnam.
OBJF.CTIVES AND ACTIVITIF.S
The ChariiN' s legal purposeslobjecis are t.or such chariiable purposes i¥'hich adN'ance the
reliuious and oiher ehariiable ii'ork for ihe lime being carried oui b!. or under the direction ol.
the CongireLJaiion. These objeLiS are sei oui in lis Trusi Deed daied 18 Januarn. 1967 b!. 'hICh
il is g()i'¢med.
The Truslee5 hai'e had re(Jard io the Chariti" CoTllTlli55ion s guidance on public bcnLfit. The
majorit!, ot" the expenditure ol- the C'harii!. t-unds ihe lii'iiig and C
SISTERS OF CHARITY OF JESLS A)D Trlt%R&' A.%GLO IRISH PRUlrlNCTr: TRL,STEES' AP4NUAL REPORT (continued) FOR THF. YEAR ENDF.D 31 .4LGLST 2023 The aciii.'ities and ministries ot"Ihe Charits" fall inio fil"¢ areas: Care of members of the Proi'in¢e in Lng1¥4nd and Ireland The members ot the Proi'ince hai-e deN'oled ihe i4.hole ol. Iheir i4"ork'ing lii'¢s lo ihe eare of the clderl}'. poor and margyinalised in socieii. and all thLir inLome assets hai e been g5illed (i) the Ch<iritN'. The Cliaril!. cares l.or their iiieinbers in reiiremenl. I"he care include5 suppcirling Sisiers i¥'ho are ablc io liie indepcnd¢nil!' and suppolliiig Sistcrs liNing in communities in EngTland and Ireland. Sorne Sisters alreadN' relired g?ii'e 5uppon 10 OUT elderl!. Sisiers. i4.ho arc lii'in¥ in the Rosglas and Siclla M1ctulina Lommunities. Their support inl'oli'es spendin(? time iN"iih them and supporting them both emolionall! and spirituall!.. The Trustees ensure ihai ei'er¥' Sisier. hether living alonL. or in a communii!.. receiN"es tinancial. spiritual and emotional support. t-or both their ministries and their oth'n Lare. W.'hen appropriaie. Sisiers are iransferred beiii'een communiiies io ensure the enK'ironinent and support a'allable io them adequaiel). meeis their needs. Social and pastoral ii'ork embers ol- Ihc ProN"ince are ini'oli"ed in i'arious fomis of SOLial or pasloral M'ork throuohoul Engjldnd Ireland. includingT iare ot- Ihe elderl! and pcople i4.ith speLial needs. lJinil!' supporl. and clidplainc!. i%'ork" in hi)spiials. healinLi mini%ln. Louiisellinii and educaiional esiablishm¢n(s. All this iN"ork is undertak¢n on a K"oluniarn' basis. The Trustees ensur¢ 'olunteers hai'e the necessan skills. experi¢"nLe. and irainingy io undertake their roles in tli coinmunii). and training7 is pfoN'ided (inieni<il wid extemall as required. Stella Imatutina Care Home Thl Sistcrs coniinue to proi'ide care and assisianLe io ihe clderl!. at SILlla Maiulin3 Care14oniL in Ansdell t-or both mLn)bers ot-lhe Proi'inc¢ and menibers ol-the public. The ()LLupani!' ot-this care horne is a mix ot- members ol- Ihe Proi"ince. prii.aie and local authoril! clients. li is noi operaied t.or profil. Cases ol" financial hardship are considered b!. the l-ru%iees and fees are reduced it. nec¢ssarN'. All applicanis are assessed on iheir needs and not Iheir abililN' lo pal.. The strategTV for the home is to proi-ide the besi possible care for residenls emotional and ph!'siLal ii¢eds so that the!. can enjoi. Iheir life io Ihe lullesi possible exienl. O%'er*L'as missionan" ii'ork. The Charil! also hilps linanciall!" suppon Sisiers 'OrkInj in ¢duLalion. eLolog)'. l)ealthcarc, social and pastoral care i%orldis'idc. 11 e ha'e t-unded ihe buildin&J ot. nell cla%srooms lor the Order s prirnar). school in Rii'anda and currenil!. 'C are 5UPPOrting fiDancial th¢ buildingT Ot- a neil care hom¢ for ihe elderli. in R%¥anda. Il'orking w'ith other organisations The Charil!. Ilorks closel!. ii'iih a number ol- oiher chariiics and public bodies thai iNork in the field of proi idingF care lo the N'ulnerable and the elderli.. Il'orkingi iogieiher Ni'ith othcr chariiies and public bodies enh(Inces coinmuniiation aiid understandiiii illus enablingi sern'ices to the elderl!. to be proi'ided more el'ticienilN" and et7eLliI'el! and ai'oiding dupliLation of cl'lort. Examples of the orgJdnisations for ii'hich membcTs have 'orked and i¥'iih i¥"hich ihe Charity has cooperaied during ihe l'ear are as follo"5..
SISTER5 OF CII.4RITY OF.IESI",S AP*D 11.4RY ANGLO IRISII PROVINCF. TRUSTEES, A[JAL RF.PORT l¢ontinued) FOR THE YEAR EINDED 31 .4LGIST 2023 Roman Catholic Diocese ot- 11.'esiminsier RLSS l Religious Lite Saleguardinis Sen"iee) COR (Conference ot"ReliLJious of England and IA:ales) AMRI (Associalion ol, Missionaries and Relig?ious of Ireland) L(In¢ashir¢ Lounti, CounLiI and BlaLk'pool Council ACHIEN'EMEYTS AND PERFORNI.4NCF. Care of mtmbers of tbe Proi'ince in F.ngl#nd Ireland In comnion ii.iili Inan)" reli<Jious congsrL)Iiaiions in Lireai Britain. the aLye profile of ihe members ol. Ihe Congregaiion is increasing as eiisling members oroii older 11 nd the number ol- lie. 'ocaiions becomes minimal. The age protile ot. the CongFregFation in the Elritish Isles Proi'inLe is sho &Fraphicall}' beloM-: Age90-99 Age80-89 Age 70 -79 Age 60- 69 The CongsregTalion has an obligation. EK)ih moral and legal. io proi'ide care for its mcmbers. none ol- IN"hom hai'e resources of Iheir oM'n and all of- i%"hom hai'e deN-oled a SigTnificanl part ot Iheir lives to the care ot-the elderlN'. FK)or and marginalised in societ!,. .4s the age profile ()t-the Proi'ince increases so loo does ihe need to pro.Ide increasingJ. and iDereasingFI!' expensii'e. care to the Sisters. Ai present four members ol.the Congregation are receii'ingy care in Siella Matuiina C are Hoine and oihers are receii'ingT SUPPOrt ii.iihin iheir communities in EnLiland and Ii'eland. In th¢ lu(ure. the Trustees L'XPLLt ihe niimber requiringi care lo inLreJse. .4g a LonsLquenie. the Truslees Lonsider ihe impaLI ol'ihis on il)e ii'c)rk of iiidii"idiial niL'nibcrs ol'ihe Congjregjaiion the propert!. requiremenis and the tinancial implicalions. In ihis reoard. the Congiregyalion s purpose-buili convent Rosglas proN"ide5 Lare for our elderlN' and incapacilated %ist¢rs. Social p#storal ii'ork The (iims ol. Ihe Trusiees in ihis area include.. F_nablinLi all m¢mbers of the Congregation to carTr' out m¢aningt"ul social and pastoral 'ork li ithin the conimunili". Pastoral care ol'residents in Stella Nlalulina Care Home. SerK'ices are held in the Chapel. and these are also open io non-residenis- Chaplaincy 'ork in hospiials.
SISTERS OF CEI,IRITI' OF JESLS AND.11.4RY .4NCLO IRISH PROI IYCE TRUSTEES, ANNU.4L REPORT {continued} FOR THE YEAR ENDED 31 ALGLST 2023 Along with all oiher organisaiions 'hO sen.'e in ihe eommunils.. the Trustees recognise ihe absolute neeessil!. ot" ensuringy ihe proieciion and salets. ot" all those the Charit!. sen'es. In FebruaTr' 2022 e sig7ned up to the RLSS and th¢ir Safebyuarding Mi odel Policies. Currentl!. all Sislers. stafi- and i'olunleers are required to compli" with our SaleLJuarding Children and Vulnerable Adult Polici- and Guidelines doeumeni ii'hieh il'as lasl rei'iem-ed in Sepiember 2021. EnLuurag)ing' and motivaling members io 'ork -1[h and assisi ihe Txior, eld¢rl!' and n)arginalised. tur cxampl¢ one of our Sisters M'orking in ihese areas ¥ii"e5 Ihe liilloii ing aLLL)unt ol- their Tninis1Th'. Sister larian Dal'e I coniinue io see mw ministr%. as a means of seTh'ing in small w'ai s accordingp lo ihe needs ol. (he indii'iduals Th,ho cross m), path. One ot th¢ major nccds in toda)"'s world is a t-eeling) of loneliness and inLr¢asing isolation by Tnany people Thei- tind Ihat they're losing all thai has been familiar to ihem oi'er Ihe years e.g.. thL Il()%ure ol- local t"acililies such as banks and certain shops wh¢r¢ Ih¢r¢ was tace io lace communiLalion. Sadl J.. the relentless pr02ress ot" th¢ digilal Il¢chnological age coniribules enorniousl), to this problem. I see a personal call io help till a t-eii" ot- the gaps b!. otl-ering a certain lei'el ol. ai'ailabilit!, i'la telephone support or M'here appropriaie meeiingJ up iiiih people in their homes or mine or in a cale elc. The ai'ailabiliN- ot- lisiening) and being ihere for people io otlload anxieties seems lo be an ei'er-increasing need in our ¢urr¢ni Loni¢.¥i. It is in this spiril that I coniinue io support 4 neighlx)urs w'iihin Apartment Block. This support tdk¢s th¢ shape of them dropping b!. t-or a coffee and a chal or l Lall lo see Ihem. Tlie), ma. require a drii'e io ihe Ial GP or Praciice Surse or just pick'ing up sotne small bul urgJent ilems Irorn the local shops. I continue lo support ? elderlN" Louple5 i1.ho because of their multiple medical problems miss out on hal'ing a social neiil'ork. I me¢1 up ii'iih Ih¢T]i (In a regjular basis for a cuppa aiid a chal. Under an umbrella ot. a support organisaiion called N Vision I supporl a gJenileman N'ho has long temis vision impaimient and short-term memor), loss. l offer similar lei'els of support io Ihe Sisters in ihe Flals at Stella Matulina Care Home. This inLludes sh()pping Irips loLall! lor 5peiilic needs lor ? ol- Ihem ii.here ihe! Lan broii'se the shops ai iheir om'n pale.
SISTERS OF CHARITI. ()fr JESI,'S.4ND )IARY AJGLO IKISH PROVLYCE TRUSTEES, ANi%LAL REPORT Iconlinued) FOR THE YE.4R E¥DED 31 .4LI-I:ST 2023 Anoili¢i' Sislcr ii'ho is unable io drii'e at the momeni nLeds her libraTr" b()oks eichanged re&Jularl! elL. Thesc iask's are in iheniseli Li qulte small bui essential io ihe iDdii idual Loncerii¢d. I continue ¥s'ith m¥. telephone support for %ealarers oi."er the Iniemel Ili'hais.4pp} on a rLgiular basis dLpendini? on iN"hcn Il)e! re in Port. Sonie calls can also come durinLT the nigjhi. As ii'ell as proi. iding emotional support I can proi'ide a limited amouni ot"pracliLal support b!. rel¢rring them to the ribht 11.'ellare A&Jencies e.g. Ihe Mariiimc L'nions ur Port Chaplains. l-oii'ards the end ol. last l'ear, l H"as able io proi-idc a srn(Ill amount of financial assislance Io (i Filipiiici seatarer i4.huse lainil!. had bc¢n traumaiised b!. the loss of their honie io N"ct another l)'phoon ¥'hich hii Manilla. Folloii"In&F m!. requesi 10 Sr Elizabeth 'e proi.ided a gJenerous sum of moneN i0,ardS ihe rebuildingy of their famil! home. Roberto and hi5 famil J tre extrL"melv gJraielul. I proi.'id¢ some menioring lor I Port Chaplain and a Mariltme Volunieer on a rcgular basis. Througjh ihe Lancashire Volunteer NelHoik. I hope io commence trainini) to ol-ler a loial lei'el of telephone support io housebound people i%'ho are feelingF cul ol-l- trorn niainstredni life Ihroueh noi beinLi able lea1"¥ iheir homes lor a i'ariel! ol. reasons. Due io t-unJing pi'oblems th¢ trainingtr ha5 been deterred unlil Jul!". Care tor the proieciion ot- our planei remains a stronger calling than ei'er lor me. Through a .ell-know'n Nlational F.ni"ironmL'nial Ciroup Iii"iih the unlonunate name ol. ExtinLlion Rebellionl ). I hai'¢ joined 2 proiesls on the sireets of London in receni monihs makingy d¥niands on our political leaders io acl urgenil!. 10 SUPW)rt and ini'¢sl in appropriale 'al,$ to piei'ent the deslriiLiion of our plan¢t gioingi torni'ard. This includes ihe creation of jobs or LireLn emplii! nient lo ottsei the inei'ilabl¢ impact of uncmploN'Tncnl ii'hich ii'ould occur as a resuli ot abandonin our Lurrent lili"tsl}'les and iia%'s ol" manaLJill2 our industries and serK'ices eic. To ihis end I hai'e just come back trom a proiest in London ihis ii"e¢kend "here I connectcd 1% ith a w'ider (iroup of Christian aciii'isls. 'e spenl most of Sunda!." afternoon prolcsiingy alonbbsidc Buddhisi IHindu and oiher inierlaith Groupsi'Trade Union Groups and a i'ariel!. of oiher passiunale Lni'ironmenial Ciroups hose commiimenl to saiing our planei is inspir£l1ii)nal. Il¢ii)bership ot- this Group Lan be uncomlortable at tim¢s as it attract5 Ihe atieniion ol- small numbers ()I' anarLhists "hO otieii hija¢k' the agJenda ol- Ihe proiesi. "I"heir aciions can someiiines creaie d neLiatii'c profil¢ for the resl Ot"us. Hoii'eN'er. sieps hai'e been taken to limii th¢ir impa¢t and besides .lesus had J similar problem re ihe motii'aiion for some iiho attached thLmseli"es io his lolloii'crs in the hope thai he mighi free them from Ihe Th'rann!. ot"thL Roinan Empire. Our dal. ot protest ended ii'ith hope in our hearts as ii"e cclebraied a Cominunion S¢n'ice tooeiher led b!. an Anglican prie51. It's encouragFing for me lo see hoii" Laudato Si and oiher inspiralional documenls from Pope Francis has pem)eaied ihese ei'ents ii"henei'er Chrislians gaiher lo prolest on matters relaling io the d¢struclion ol. our loi'el) Planel.
SISTERS OF CIIARITY OF JESL'S A.%D MARY AJGLO IRISH PR()VIN'CE I"RLISTEES' ANNUAL REPORT leontinued) FOR THE YEAR ETr*DED JI AUGLST 2023 Stella Matutina Care Home The Charity 0i47)s and operales a residenlial care home. Siella Malutina Care Home. The philosoph!. ol"Lar¥ is lo ensure a homel!. t"rtendl!'. and ()pen atmosphere among%[ reqidenls and stall-lihilst maintaining the prii'ac!. dignili. rAghis. and qualili ol- lile ot- all resideni5. Th¢r¢ are 4i rooms al Stella Matulin4L all M"iih ensuite t-acilities and a numbcr '1th separate Siilingj areas edch room has a ielei'ision and i¢lephone linked io ihe Lall s!"sl¢in. All artas ot- the home are aicessible b!. ciihcr stairs or a lifi. and resid¥n15 arc CllLoura<)cd 10 take nieals in ihe dining rooni. Other t"acilities include a Chapel. hairdrcssiiig salon. conseri aiorn. sci.eral lounges. and passcn¥)Lr lili io all floors. Spacious bathrooms on each flooi are fitted H"ith assisted bath chairs. The home is S¢1 in its exlensii'e grounds oi'¢rli)oking Ihe Ribble Estuaj). In operaling> Siella Maiulina Care Home. Ihe Trusiees aim io.. Provid¢ ¢icellent residentlal care to ¢ld¢rli' men and ii'omen. ensurinb thai iheir needs are lull!. Tticl aiid Iliat (he!. enJo¥' as high a qualil!" of lit-e as possible. Emplo), high qualiti siafi. lo care t-or Ihe elderl!" resideiiis ¢nsuring thal all such stati. obtain ihe neL¢ssm" qualificalions and irainingj ne¢ded lor their "Ork. Ensure thai Stella Nlatulina Care Home meets the requirements of the C are Quality Lommission iind Ihal an!.. recommendations arisin¥, from inspections are acted upon quickl), and etlecliTr'el!. Maintain the tinancial securÉll' Ihrough carelul budgeiing and bi. seiiin¥ fees l()r Stella Matutina Care Home ai lei'els ihai ensure its i'iabilill. is not threatened. Stella Malutina has an excell¢ni local r¢putaiion "hiCh is beino maintained and dei ¢l()ped. The mol'e to lai, rnanab)emeni is nei er easl. bul this has dei'eloped ii'ell and need% l() Ll)ntinued. The achiei'ement of ihe hig,hesi possible aii'ard. RL'sidential Domiciliarn. Benchmark Fii.'e %idr rating t.or ?021-?022 is reLognilion ol- hoii" far the home has dei'eloped and is a Lredii io ¢a¢h and ei'er%' indii'idual ini'oli'ed. Stat7"morale is higJh. and lurnoi'er is loii.. Apart Irom beingj an indication of gFood managemeni this enhances ihe qualits- of care g>ji'en to residents. The ai'eragye occupanc!. lei'el during the financial !"¢ar of 77.40/0 Ii'hich ii"'as an improi'emeni on the prior )'ear libJure of 7U.9Q/o. The accommodaiion is oi'er three tloors. and the Trustees are lindingj il inLICd5ingJl! dit-liiult lo keep rooms on ihe SLeoiid and first floor occupied. This reflecis a Ircnd lo indii'iduals slai'ing, al hom¢ tor longcr. so ii.heii the!. do eni¢r the care honie ihLir nccds are greater. The Trusle¢s haN'e and continue io explore s ol- mak. inij beiier use ol. Ihe laLililies al the hoine. Oi'erseas mi%sionan" iiork. The Ch£uiIN suppi)rts the iiork ol. Ihe Con¥Jregaiion ii"orldM'ide and in receni l'ears its financial support has been toeused on Im'o projects in Rii-anda..
Sl(¥TERS OF CH.4RITY OF JESLS,ISD .IIAKY ..I)C"LO IRISH PRO%'I)CE
'I'RLiS'fEES' AI%NU.4L REPORT (continued)
FOR THF. YE.4R ENDED 31 ALCLST 2023
Compl¢ie Seolaire Nlere Pla¢ide School, Ri%'anda
Rii anda is a sniall counir! in C enlral .41rica. li has an of 76.3i8 km .1[17 a populalion
ot- I I million. "rh¢ main source ol incotne for ihe pcople is e5seiitiall!- aoriculture. Rii"anda
'as heili il!, alleLied b!, Ihc socio - politiLal crisis of the gcnocidi. th2t caused sei.eral
liundrcd ihousand deaihs in three months in 1994. The cons¢quenLes Ot-lhis gJenocid¢ are
incalLulablc and conlinue ((} hai-e i'en- i-isiblc impacl In the counln. to this da!,. li'hole
tamilies ii'ere .]ped out. and man!. i%'idoi%'s. orphans. and elderl! people remained. 'hO i¥'ere
desolate. 'ith liltle or no means lo suTh'ii"e. Anoiher inei'itable consequence ot-this crisis is
the manN' uneducaied children and l-outh and school dropouis.
Our Congyregalion. Sisiers of Charii%' of Jesus and Nlarn. ISC Jill l. M'ho dre i%oikinbY a5
missionaries in kibeho. ii.hich is located in ihe Souihi'rn Pr()1 Incc of RNI anda. are i"ern' ail'are
ol. the IrLmendous nLed for educaiion. In )018 lh¥ Trustees aLirLed io pledgye £?iik to part
t.und ihe buildingT Ot- l O neil classrooms lor the L onLireo
SISTF.RS OF CIIARITY OF JF.SI'S ASD %I.4RY ANGLO IRISH PR().1)rF. TRUSTEES, ANuAL KLPORT {continued) FOR THE YEAR EN'DED 31 AIIGLST 2023 Care bome in Kibeho, R)iand The TwsiLes hii'L pILdiid £()OOk' io tiind the buildingJ of a ne. care home. As ii'ith thc new classrooms. Ihis projected is being manaoed bs. our Generalaie in Brussels, ..hO provide regular reports on progFress at our Trustees rneeiin¥s. Tcrhagen Monaslen" CompleA in Belgium Terhalyen is Ihe moiher house ot- our CongFreiJaiion. ii'hich is one of th¢ mosl importanl in BelL)ium. In ?010 Ihe siie lias recoLJnised b!" IhL. Flemish (ioi'erniiieiit as a proiecied monumenT. Il'iirk on rL'niii"i)tino ihe buildings on the 5itC LommenLeJ in ?0?3 aiid is 5ihcduled lo be compleied in 20?6. The pr(ijeLI is bL"inL) rnanagied b!" our Ci¢neralaiL' 1% ith ihe suppon ol- archiiec(s. surn'es'ors. enL?jIIL"L"rs. and oiher specialist contractors. The iotal budgy¥t for the projccl is in exLess ot"El Om. The HeritaLie Sile is a part of Ihe TerhaLien MonasleTh" Coniplex. It presen-es and tells th¢ hislorv ol- the Congreoaiion and ils achiei'ements in ¢ducalion. healih care and '¢[tare. It tells the story. ot" w'ornen religiiou5 in BLliJium in general. of ihcir lilc behind the coni'ent li alls and Ihe pioneering? rolc Ihcs¢' ol-ien-anonN'mous ii.omen pla! ed in SOLieiN'. The arcliii'LS dLpdniii¢ni is a public-orienied and ihe goal of the renoi'aiion M'ork is to proi'ide a Mell-equipped stiii'agJ¢ place ihat H.'ill presen'e the colleciion ot"Ihe CongreL¥alion under opiirnal conditions and niake the collection ai'dilable 10 ihe public for consuliaiions. ei'ents. eNhibitions and social projects tliat make use ol. Ihe collLction and buildings. In April 2023 the Trustees agyreed 10 pledg>e a ioial ol- E l. l iik iui%'ards ihe cost of tlie projLCI oi.'er three Iinancial l'ears in equal insialmcnis. The tirsi Iranche M"as paid in the N'ear under RISK .NIANAGF.MENT The Trustees hai'e considered the major risk.s to ii'hich Ihe ChariTh' is exposed. El'ern effon is being rnade lo niitigyJtL' those risks. The Kei" risks tor th¢ Chaiill. as ideiiliticd bN" the Trustees. are described beloii. logjelher ii'ith the principal M"ai's in ii.hich the!" are mitigated:
SISTERS OF CH.4RITY ()F JESL,S AJD 11.4RI' KI'GLO IRISII PRON'INCE
TKUSTELS, AYNtiAL RF.PORT Iconlinued)
FOR THE YEAR EINDED 31 ALGIST 2023
Goi'ernan¢e #nd Nlanagement
The ConLTregJation has an obligaiion. boih moral and leqal. io proi.ide care for lis nienibers.
Done ot th'hotn has r¢sourL¢s ot" her and all ot- iihom hai'e dci.oled a signilicunt pari of
their liies to the actii"ities ol" the Chariti.. The Si%iers ai¢ all under a i'oii" of poi'erii. and
theretore proi'iding) IhL'm ii'ith support is consid¢red 10 be an imtK)rtani eleineni of ihe Charil!" s
(Trrk. Il'her¢i"er possiblL. care is pri)i"ided t-or trail and uniiell Incmbers i%'iihin communilies.
The incidence of such Lare nceds 15 impossible 10 prL'dict. and ihL" Truslces thcret-ore belieN'e
that li is inLumbeni upon ihein io maintain reS¢'e5 at an appropriaie leN'el to ensure that Ihe
harit). is able io MLYI this obligTa¢ion - sei Resen"¢s I'oliL!' belo..
Along? '1th all other org)anisaiions ii'ho sern e in ihc comn]unil%". Ihe Truslees recoginise the
absolule neccssii!. of ensurin(y ihe proieclion and salel!. of Jll those IhL CharilN' sen'es. li'e
joined the R¢lig)ious Lit-e Sat-egyiiardinLJ Siri icc in Februarn. ?0??
The Trusiees are mindtul that at some lime in ihe Diedium lo lonLTer tenn. there mai- be issues
in relation io SULcession planning t.or ihe goi'ernance ot- Ihe Charil!. 11.'iih ali agieing group ol.
Sister5. it mai. be n¢cessaD' to consider appointing la!" Iruslces (thul IS trusiees il ho are not
mcmbers of the ConiJreoalion) and.'or Sisler% from oi'ersc&s arcas here there is a greaier pool
ot- l'ounger mcmbers. Such steps ma!. require Lonsiiiulional Lhan¥Jes for ihe Charit!,. Th¢
Trustees continue io keep und¢1 rei'j¢th ihc issucs and the oplionb open to them.
Propert!. and Operational
li is absoluteli. necessaTh" io ensure ihai our properties conlinue to be sal"c places tor the
residenls. Sisiers and N'isi(ors lo use. .4iieniion is g>ji"en io keipinL7 our propertic% in
SI.%TF.R4i ()F C.'H.4RJTI' OF JESI"5.4.ND lARy ANGLO IRISH PRON'I.N'C.'F. TRLSTEES, ANLYUAL REPORT Icontinued) FOR THE YEAR EN'DED 31 ALGUST 2023 The Truslees take a consen'alii'e approach to manaoing cash and tii'e-l'ear cash tloiN' t"or¢casls arc CXÉimincd (Ind rei'ieNI"ed at leasi annLialli' to ensure adequaie Lash 15 Éil'ailable for b()Ih knoTh needs and to some de2ree unknoiim conlinoencies. The Trusiees seek" 10 make the best possible use ot. the Charilies lILia1 r¢suur¢es. RL'PUtational and Safeguarding The Trustees adhere io the hig,hest standards of intCLFrili and e.XPL'Lt all m¢inbers ot- the ProN'ince and en)plo!'ees lo do Ihe same. .4 register of iiiierests t.or ihe Trusiees is mai111ained and kept updated. A contlict-ot-_interesl polic!. is in plaL¢ tor both Trustees and emplol'ees. The Anglo-lrish Proi'ince has a compiehensii"e Child VulnLrable Adult Sat-egJuarding Polic). booklet ii"hiLh lias lasl rev ieM"ed in September •0? l. Il'e are iiiembers ot"'fhe Rl'ligiious Lite Sateguardino Ser%"iee. FINANCIAL RE,lE Ini'estmellt polic. The Charil}- s inN'¢stm¢nts are manag'ed b!. Julius Bar and 14SBC Prii ale Banking,. There are no re51riclions on Ihe Charill. s poM'er lo ini"est. The ini'esimeni siraleg,). is sei b!. Ihe Truslees and considers income requirements. the risk protile and the inN'eslmeni manaoer s I'le. of Ihe markei prospecis in boih ihe medium and long terni. Thc polic}, is lo maximise tolal retum. il'iihin a gii'en leiel ol. risk. through a dii.ersilied ponlolio w"hilsi proi'idin&J a lei'el oA- ineome adi'ised b!. Ihe Trusiees trum lime 10 lime. There is also dn Ethical Polici" precludiiTr(F ini"eslrnent in an!. conipanN' ii"hich. atter reasoiiable enquiry.. clearl}. has signiticant protiis t-rom an actiN'it}' ii'hich is conirary, io Ihe objectii,'¢s ot" the Congregalion. In addition. our ini'estment manaLiers hai'e been mandated io conlinuallN- assess Ihe EnN'ironmental. Social and Goi'ernance standards ot. Ihe companies li'e ini'esl in and ai'oid. as t-ar as reasonabl} pos51ble. ini estingj in companies that do not share our ESG I"alue5. The perlomiance ol- thc portfolio and the Chariti s ini estment strategj!" arc rei'iemed b! tlic Trustees 'hO nomiallv meet ii'iih Julius Baer Iniemational quarterlK and HSBL I)ri¥'ate Bank eN'ern' six Inoiiths. IDN'e%tJnent perf()rmance -I'he !'Lar to J l AULYUSI 20?3 il'as relaiii'el!. UllCl'Lniful from the poini of i'le. of ini'eslmeni markets and there lias litile changje in i"aluL's oi.er ihe period al-ILr a ! ear ol. signiliLani Iosscs in 2021122. oi'¢rall. in¥'¢sltncnl incotnc during the l.ear a5 up £46..?k (10.6 % l at £483.?k {£436.9k in prior I'earl. Hoii"ei'er. losses plus ini-estmenl manaLFer fees for the l'ear amounled to £17i.9k compared io a loss ol- £1.1 ?8k. The oi erall inLome reiurn w.as +0.97°7o. This is broadlN' in line li ith the ai'eragFe returns lor the charit% secior published bK' ARC (Asset Risk ConsulLanls)- Their Sterlin, Cauiious model ponlolio shoiied a reiurn of _O.i70/0 and their Sierlino BalanLed modcl -0.390/0. Thus: Ihc oi"¢rall ini'c5tm¢nt r¢lurn a¢hicN"ed sliihtl), oulperfonned both measures. 10
SISTERS OF CH.4RITY OF JESLS AI%D IIARY AGLo IRISH PRON'INCE "rRUSTELS' ANIIL'AL RF.PORT {tontinued} FOR THE YEAR F.YDED 31 .4LC.LST 2023 The ini.'estment mana(Fers conlinued io ini'esi in accordance iiiih Ihe Trustccs ini'c51ment polic!. set out earlier in the report and compl!" 'Ith (he ethical gyuidelincs bjii ¢n lo them. The Trustees are sali%tied Mith thc perfonnance ot- Ihe ini-esimenis and remain happ!. that iheir ini'estm¢ni obj¢clii'es are being m¢t. Rcsults for the J'ear A summarv ot"Ihe )'ear s results can be found in ihe Siai¢ment of Financial ALtii'itics. During 202?1?3 total income reduced 10 £2.341 k from £2.489k in the prior N'ear. Ot the inL()me. a l()lal ol. £ I.240k120?1.1??: £ l.O?Okl related io thL fee s receii.able and oiher inionic É)t- tlic C.haritN s care home. A iotal ot" £?8ik i?0? I ??: £J_Okl li'as receiN ed b!. il'a! ot donaiions and legyacies. Ini"¢stineni income and interest receii.able lotalled £i08k {?O?l 1??: £4.)8kl. A property that bciame surplus to our needs li.as sold during Ihe l'ear and a gain of £298k 14.as achiei'ed because the nei sal¢ proceeds e.xceed ihe book i-alue ot-lhe house. Expendiiure ioialled £4.JOik Compared lo £) 644k' in ihe prior !'¢ar. Expenditure on thc Chariti. s care hiime amoiinied to £1.78ik i?0? l 7?: £1.4.)7kl aiid thai inLurred un maintaining the members ot- Ihe ConLsrebJaiion and supportin? them ID iheir pastoral iiork and minisirK' amounied 10 £46)k i?O?I, 1??: £409LI. Grants paid in thc lomi c)t' oi'erseas iranst-¢rs. plu% an alloLaiion ol. Goi'Lmanc¢ and Siipp()n c05lS. totalled £1.9i I k in thL ! ear comparcd 10 £66?k in 2021122. Of the oi'erseas iran5fers. £4110k M'as commiti¢d io support ihe buildinLJ of a ne. carL" home for our Order in R.anda and £l.Olik io our Gencralatc in Brussels t() part t-und the restoration of our Mother House. The remainder i%'as io fund the lii'ingi eosts ot our Sisters residenl in Ireland. Fees paid io the Charil). s inN'esimeni managyers duringv the N ear i%"ere £1 ?8k. Nei expenditur¢ before gain]05$eS on ini'esiments for ihe N'ear ..aS a negatiN'e £1.964k (2021,:2? a negiatii'e £1 iik}. Fundraising 'I"he chariti has not made anN' lundraisino appcal$ 10 ihc public during thc l'ear and is unlikel!, to do so in the lulurc. ThL're lias been ni) outsuurcid I"undraisinu i.la prolessional tundraisers ()r other ihird parties. Consequ¢nilN'. Ihe Charil!. is noi reg7isiered i4.iih Ihe fundraisino regsulalor and receii'ed no fundraisinbJ complainis ID ihe N'ear. RESERVES POLICY AND Tr I%,ACIAl. POSITION Going concern Atier makinii ihe appropriate enquiries. the Trustees hai-e a reasonable expeclalion thai ihe ChariiN, has adLquale resources to continue in operaiional existence lor ihe loreseeable t-ulure. For this reason. thel eonlinue to adopi ihe going? concern basi5 in preparing) the tinancial siatemenls. FurthL"r details regJardingT ihe adoplion of Ihe gyoing concern basi5 can be found in the ac¢c)unting policies.
SISTERS OF CH.4RITY OF JESLS IlND.IIARY LNGLO IRISH PROI'"INCE TRUS"fEES' ANNUAL RF.PORT Iconlinued) FOR THE YEAR E,DED 31 .4IGLST 2023 Resen'es Polic). The Charii!. caLTies out a dii.erse rangJ¢ ol- aLlii ilies and is responsible lor care and support ol- Sislers iih05e aiLragFC a(Je is increasing and ii'hose needs are chan(yjii(J The Truslees h(iN'e examined Ihe need lor t-rec resern es i.e.. those unrestricted funds n(Il ini"ested in tanoible lixed assels. desigjnaled lor speLilic purposes. or OtheI"1se coinmitled. The Trustees consider Ihat. gFji"en ihe naiure ol. Ihe CharitN' s work and its comniitnients. Ihe lei'el of free resen'es should be belii"c¢n une- and iiic)-i ears budgeied expenditure. The tree resen'cs as al J l August 202) Ot- £ l ? J6k fall SiL?nifiLanil!' shon ol. Ihis. I loii"ei'er. post N'ear end Julius Baer liquidated £iOOk t-rom thcir inN"¢stm¢ni portfolio and are on siandb!, to liquidate a t-urther £500k ai some lime during ihe current financial l'ear. Takingi Ihis inio accouni and ihe non-reLuring? nalure ol- the eiceptional gJrants comtnittcd durin¥ 2022123 ihe Trustees are 5(Ili5fi¢d ih¢)' hai'¢ sullicieni cash io meei iheir commitnicnls. Financial po51tion The balance sheei shoii-s total resen-es of £?4.467k. ()f Ihis. £l.0•4k' Is represented b!. properties and ()Ilier tangible IIiL'd asseis esseniial lor ihe suppon and ii"()rk ()I' the %isiers. All tanLTible tixed assets used lor the support and ministn" of tnembers ot- the Congregiaiion tomi a desig7naled fund equal lo ihc nci book i'alue of the tangFible fiiL.d assel5. In addilion. Ihe Trusiees hai'e sel aside £?0.?07k to mect thc cost ot-Ih¢ care and ii'eltare ot'the Sislcrs in their retirement. Atter Lonsideringj ihe £ I m uL- ini es(11)enis ihat hai"¢. or ii.ill. bc li4uida(ed ihe Trusiees arc of the opinion ihe t.ree resen'es are adequate. FL'TITRF. PLANS The Trustees do not anticipale an), signilicani Change 10 the Chariti, or its actiN'itics ()er the nexl Iw'o to til'e !"ears. 11 is iheir inlention lo continue lo tneei Ihe I"olloii'in¥ objectii'es.. To coniinue io care for Ihe Sisiers. M"hether ihe! lii"e independenil).. in coinrnunities or requir full lini¢ car¢. ro Lolliinue io support ihose Sisters i% ho aic able io cam" oui pasioral Ork and minisir). Focus .]1] Loniinu¢ io b¢ oii'en io assistingT and Laring tor ihe elderl!. Ihe poor and th margFinalised and reachingJ out lo a5 man!" as possible. To continue to operale Siella Malulina Care Home and in particular-. To proi'ide the highesi possible qualiti- of care for the residents in a diginified and friendli. enN'ironmeni: To aehieN'e ai'erage occupanc!. rales In eYc¢ss of 80 % ai Stella Malulina Lare I lome: To attain higih Success rates in inspections Caled out bs. Ihe Care QualiN C'ommission- To continue the rolling, probFramme of refurbishment: and To continue to emplo!- high qualilN- 5th1Yand ensure that the!. are g7ii.en appropriate and relei'ani iraining. To support ihe CongTreg?alion s ii'ork- oi-erseas and for ihe Trusiees io satisfi, themseli'e5 (hai lh¢ lunds are applied lor their intended purp()s¢. To monitor the needs ot- the Sisters as the!. Liroii" older and. it- necessar¥'. adapt the C harits- s plans in respeLt ol- propert). needs and Ihe proi"ision ol. care lo elderl!. meinbers. 12
SISTERS OF CFI.4RITY OF JESUS AND 11.4RY ..INGLO IRISII PROI'IIK'CE TRUSTEES, AYNL,AL REPORT (continued) FOR THE YF.AR ENDED 31 ALGLST 2023 STRUCTURE, GOI'ERP*A)CE AND IIANAGEIIE)T STRLICTLRE The British Isles Proi"ince comprises 27 %isters iiho lii'e as part of8 Coininunilies. J in En(Tland and 3 in Ireland. Llsualli. Ihere 15 an annual Ass¢mbl!' of all the Sist¥rs ihat are iiell enough i() attend. -I'he mosl recLnt gFaiherino of Sisiers li-as held at Rosg,las Coni'enl in MonaslLrei'in. Jreland in Noi ember ?02.3. GON'ERNANCE In iemis ot" Canon la. the Congregation Is goi'ern¢d at an internalional lei'el bl.. the Superior General and her General Council in Brussels. Thei. are ¢l¢Lied ei'eTh' six l'ears at a General Chapier or mccling ol" reprcsLnlalii'es of all pioi'inLLS Ot ihe ConLirtgTEltion. The British Isles Proi'ince is LS0I'emed b!. a Leadership Team apwinied b!" tlie Generate. In terms ol. cii'il lam,. Ihe C'haril!. is ¥oi'crncd b!" a TrustL¢ Board ii"hiLh is respon%ible lor appoiniing neKI" Trustees. The Trusiees are members of (he CongyrL'Llalion ii.ho hdl'e a detailed knoi4"ledoe of the ii'ork of the Charil). and ils siruciure. The TrusteL'S meel ii.iih the Congregation s Icgial. aLLouniing. iniweslment. and propert! adi'isers as appropriaie. The Trustees are uliimaieli. responsible lor ihv p()IiLies. aLlii ilies. and asseis ol. the Charilv. "I"he)' meet quarterlN' 10 rci"i¢ii' dei'eloptnLnis li ith regiap rd to th¢ Charit!. and lis actii'ilies and to niakt anN' important decisions. Il'hen neeessar%'. the Trustees seek adi'ice and also support from th¢ Charit!. s professional adi'isers including sun'el'ors. ini'esiments manaoers. solicitors. and accountanis. The da!"_io-dai' managTement of the Charil!" s actii"itiLS. and ihe iniplementation of policies, is delegyaied io the appropriaie member5 of ihe CongTrLcJation or other appointed siati.. The .1 rusiees aiiend lormal ir(iinin2 courses as considL'red necessarn. to fulfil their duiies and are &ilso briet-cd on specitic mailers b!. Iheir pri)ILssional adi"isors. There follo,5 brief biogjraphical infonnalion on each ol. the current Trustees. Si$ter Elizabeth Roche SislLr Elizab¢ih iau(?hi SLience and ReligTiOUS Education ai Si. Angjela s Coinpr¢hensiN'e Scl)ool t-or ien l'ears. Hal'ing studied lor a masier s degree al Souihamplon Lnii'ersitN' she retumed lo Ihe school and seTr'ed on ihe Senior NlanaLJcmeni Team. M here as Deput!. l.ILad Teacher she had oi-erall responsibilits. for ihe Pasioral Curriculuin. During Ihis time and unlil JunL 199? as a qiialilied Counsellor she also "orked l-or a i'oluntan. organisalion. In the mid-eighiies she 'as involi'ed in faLilitatingF ihe amalgiamalion of iii'o schools (St. AnLTela s ?irls and St. Michael-s bol'sl iihich became The John Hcnrn. NeiiTnan School. In 1999 she ii'enl as a missionan. lo P¢ru. South America. and ii'orked in Primar)" I lealth Care and Cat¢LheliLS. In 1999 she ivas appoinied to Brussels ii-here she sern'ed on the G¢neral Leadership T¢am of the Congregaiion lor six !¢ars until Aiiousi ?OOi She lias appoinlLd as a meniber ol. th¢ Proi'incial Leadership Team in ?006 and in Jul! 10 I O il'as appointed Proi'incial.
Sl&>TF.RS OF CII.4RITY OF JF.SI',S.4ID .%1.4RI' .4.NGLO IRISII PR()I'INCF. TRLSTEF.S' ANNIIAL RF.PORT Iconlinue(l) FOR THE YEAR ENDED 31 AbGLST 2023 Sister Illan. Ellen ()'Brie Sistcr Lllarb. Ellen jniiied ihe Congregalion in 196). She trained as a Siaie Regislered Nurse dl the l'bItt)ng1OD H05Pital in HighLyate. She il'as .klandgJer of our Care Home in Roxlc!. C ourt. 11 Illian.14¢rts. l.or l ? l'ears. She a5 .4dniinislraior ot" Ihe Congregation s Hostel and Nursing Home in Nlelboumc. .4ustralia. Iiiih l?0 residents. hal'ing responsibilit! and oierall administralion and operation ol- Ihe horne ii-ith oi'er l 00 statl. for 8 l'ears. She spent 6 l'ears in Peru. South AmeriLa. "orkIng in PrimaTh' Ilealih Care. She li.as fvlalron ot-the Congregalion s Nursing Home in Ireland for _ )'ears and thereafier li.as Proi'incial until 2 Jul! 2010. Sister Rosili. illathei%' SistL'r Riisill Nlathcii. an Indian b). nationalil!" and from ihe souihern slate ot- Kerala. as born as the eldest child of sei.cn children. She joined ihe Congregation of Si51ers ol. Charit!. of Jesus and MaTh' in the N"ear 1979. Hal'ing completed ihe ReligJiou5 lonnalion. she pursuLd a leii l'ears of slud!" to cquip herself to Mork in the field of accounis and financial manaeemenl. Il'ith ihe eNpcrience of beingi an dccouniant in sei'cral instiluiions ol. Ihe Proi iniL. she isas appoinied Proi iiicial Bursar in ?001. L urrenilN' she is in the Generalate as ihe General Bursar of ihe C()ng>reiJation. Sister Patricia Jos¢ hine Callauhan Sister PairiLia Josepliine Callablian joined the Conbyregiation in 1960 as a qualitied ieacher and speni lii'enl}' )'ears as Head Teacher of a Diocesan Priman. J.M.l. School. She 'aS subs¢quenilN' appoinied Proi incial Bursar in 1990 and reiired t.rom this posl on 30, June ?007, beinb? replaced by a laN' Bursar. ister Philomena F.nrioht Sister l)hiluniena Enrigh( joined ihe Cungjregyaiion in 1960. She trained as a TeaLher in Roehampion Inslitul¢ ot. F.ducaiioll dnd Ihen iaugihi in Holl!. Moiini l_anLashire. LeTchii'i)nh. and Dei'on M'herc she lias HeadmisifLSS. FolloiiiDgF Ii¥"cnl!"_oni Nears ()I' te<2Lhing Sisier Philomena opted lor a changFe ol- IlinistTh' and trained as a Nursc in Sussex DoKins SLhool ol. Nursin&J. 'here she enjol'ed eighieen l'ears ot- Nursingy in an acuie Disirict General Hospiial until hcr r¢tiremenl in 2008. On retiremeni Sisicr Philomena m(ii'ed l() Ireland 'here she is Lurrentl} LolliaLt person. Shc is aLtil'LI!" ini"oli"¢d in the local Coinmunit! ii'heri she is meniber ot- Ihe Parish CoDimitÉee and co-ordinaior ot"The Children s Liiurg)!.. Sislcr Philomena 15 also a trained i oluni¢er i%'iih the local Ciiizens Inlorniaiioii Sen'icc. The Ciiiz¢ns Int"orn]ation ScTh"ice is t"ree. conlideniial. independeni. and prii'ate and is ai'ailablc 10 the public. Sister Kathleell O'connor Sisier Kathleen O'connor il'as iK)rn in Co. Laois Ireland. Shc.joined the Sisters of CharilN' of esus and Nlan. in 1964. Hal'ing completed relioious studies. shc pursued a Lareer in nursiiig in Londi)n. In (he mid-sei"enlies shL reiurned lo Mi oore Abbei. Ireland and did turther studies in the lield ol- Special and addiiional needs of people ii'iih inlelleciual Lhall¢ngTes. Slie lal¢r obtain¢d a diploma in clinical nursL" iealhin?. Iii Ihe 1980.5 she ilas subsequenil!. appointed as Director of a largje residential and comniunit!"_based Sen'icLS and also ChairpL"rson ot- the Board of ManagTement ol- Si Man. s Spicial SLhool. Deli'in lor some N-ears. Currentl!. she is a member ot. Ihe Board of Management. She m.as a In¢inber of the ProN'incial Leadership Team and Siiperior of ihe local SCJ.M communit!.. 14
SISTERS OF CEI,IRITY OF JESL'S.4.ND .IIARTr' A.)C"LO IRISH PRON'IJCE 'rRUSTEES' ANNUAL REPORT {¢ontinlledl FOR THE YEAR E)DED 31 .4ITGLST 2023 She 'aS appointed as P&sloral Support CoordinaioT for the SCJM.:.Muirlosa Sen'ices in 2006 and pre5enilN" Communii!. Coordinator t"OT the SLJ.Kl Sisters in Ireland. Sister Ann Dci'iDc Sisier Ann il'as born and raised in count!.. li'eslmeaih in Ireland ihe eldesi of a famili.. of six. She joined the Sisiers ot CharilN' ot" Jesus and Man. in the mid 60's and folloth'ing tii'o and a halt-vcars of Religious t"onnaiion folloiied a career in nurse education in London. In the earli. 70,5 she li.as appoinied as coordinalor of a resideniial unli for childrill M'illi mild learning disabilities and ii"orked as a InciiibL"r of a muliidisciplinaTh' team. Hai'inLI compleied t-urtlier nursing siudies. she set up and managed a preschool car¢ unil t.or Lhildren i¥'iih modcralL' leaminbJ disabilities and multiple special needs. Sisier Ann ii'orked there for t-our N'ears. %he 'as app()inted b! ihe Sisler Proi"incial lo join a parish ieam in inner cit!" Ilublin io suppon and 'ork ii.iih SQLidllN" disadi aniaL)ed l'oung peoplL' dnd thc honieless. Later she il.as ini'itLd b!. Ihe Midland Healih Board and the Sisters of Charii!. ol- Jesus and N.laTh' and ih¢ IoLal Parenis and Friends Association to sct up a sen'ice for adults ii.iih inielleLtual disabilities lo turthL"r their education and create opportunities lo enable them to lii-e happi. and fullilled lii'es. Sister Ann is Lurrenil}' a member ot. Ihe Pasloral Support Team for the Iluiriosa sen.iccs in Ireland. Sister Eileen O'connor %isier Eileen laught tieogTraph!'. SoLio102!' and ilas Head i)I' Relioious Siudes aiid Careers oi'er a period ol- ten } eais di Si FranLiS Collegje. belore inby io Birniingjhaiii to do a masier s in theolog?!.. Here she ii'ork¢d in a i'oluntaTh" capacil!. in Chariiable Centers. M"iih RefuL?ees (for three l'ears) and Vulnerable 11,-omen (for filieen i'earsl. Presentl!. she is Hospiial Chaplain at t.0 cit). hospilals for three da}'s a ii'eek. il'ork she finds reNI"arding. KF.Y MANAGE)IEiNT PF.RSONNEL The followingi la!.. stslT supp()rt ihe Trusiees.. Ir. Alan Kin -41an is a reiired banker '11h oi'cr 30 N'ears eiperience M"iih FISBC Bank. In 1976 he obtained Th¢ Inslituie ot- BankLrs Bl4 nkino Diploma and li.as elected an Associate ot- thL' Institute. He has held sei'cral %enior manab)ement positions in boih corpirate and r¢tail bank. in&,, inclLidiiig' managJinLY a business unil ii.ith a budgJel of £ l Om and 140 staff. His pr¢N'ious N'oluniaTh' ii.ork includes adi'ising local g70I'ernmeni on economic issues and he has been a g7oN'ernor ol. t.0 secondars. schools. Alan has a keen inierest in the eni'iroDmL'ni and in 201 ? i%'as aw'arded a Bsc (Ilons) in Eni"ironmental Studies bN' the Open Lnii'ersits.. He repons io Sister Eli7abcth RoLhe. his line Managcr. and is aecouniable to ihe I'ruslees. tdu 4LI Mrs. Da)In Nl'ard Th¢ da!'_tu-da!' r¢sponsibilii!' t.or Si¢lla Klatulina Care Hom¢ in Ansdcll. Lancashirc is in the hands ut. tlic Rcb?iStered Care Nlanabjer Klrs. Dali n li-aid. Daiin lias appoinicd the RegTlStertrd Care Maiiagyer in Februarn. 7018. Daiin oi'er 30 l-ears eiperien¢e caring> t-or (he eldL'rl!'. Prior lo ji)iniiig us Daii"n w'as the Rcgi51eied fvlanager of anotlicr care home in Ansdell.
SISTERS OF C14,IRITI' OF.IESI'S AND JI.4RY A.NGLO IRISH PRON'IJCE TRUSTLLS, ANI%UAL REPORT {¢ontinued FOR THE YEAR ENDF.D 31 .4L,GLST 2023 ement Pai" 'l-Ii¢ "Irust¥¥S rel'ie. paN" annuall!" lo take into consideration CPI and 'aTe inllaiion. Perforniance rei'ieii's t.or ke!- manao¢meni are conducted b!. Iheir line managier bul there is no perSorman¢¢ relaied paN'. Froni limc-to-iime pa!" is bcnchinatkcd againsi secliir pa! SLal¢s. STATEMEINT OF TRLSTEF.S' RESP()NSIBILITIES The Trustves ar¢ responsible for preparinLI the Tru51ces repon and the financial %iaieni¢nis in accordance iiith appliLablL laii and Lniled Kingdom .4cLouiiiinu Standards IL,nii¢d Kiiildom Generall). Accepied Accountingj Practice). The la. appliLable io charities in Eng11( nd and Il'ales requires Ihe Trusie¢s to prepare tinancial stateinents t.or each linaThLial period iihiLh gli e a ttu¢ and tair I'le ol. the Charii! and ol- its incom¢ and dpplicaiion of resources. for ihal penod. In preparing the financial staiemenis (he Trust¢es ar¢ required io: Select suitable accounlino wlicies and then appl!- Ihem consislenilN': ObseThe the mcihods and prinLiples in the Charities SORP (FRS 10?): Make judgjements and accountingj eslimates Ihai arc reasonable and prudeni: Siaie i%'hether applicable L.K .4ccounling Siandards (FRS I O? I hai'.e bLen followed, subjcci io an). tnaierial d¥partures disLI()sed and cxplained iii ihe linancial siaieinenls: Prepare ihe finanLial siaiemenis on ihe gJoingy concern basis unless it is inappropriaie 10 prcsume that ihis basis applies. The Trustees are responsible for ensuring proper accountingj reLords are kepl IN'hich disclose. with r¢asonable accurac! ai an). time. Ihe linancial posiiion ot Ihe Charili. and enable them to ensure that the linancial stalem¢nts compl!" ii.iih the Chariiic5 Acl ?01 l. thc CharitN' I.QLLuunt and Reports) Regulations ?008 and ihe Trusi D¥cd. "fhe!- are also responsible lor safeg)Udrding the asse15 01- Ihe Charit!. and hence l-or iakino reasonable sieps tor the pr¢N'eiilion and d¢te¢iioT] of error. traud. ¢md other irregulariiies. ApprO.¢d b). the Board ot-Tru51e¢s on 20?4 and sioned on its behall" Sister Elii.dbeth Ro¢he (Trusteel Sister l¥lan, F.Ilen O'Brien {Trusiec} 16
SISTERS OF CHARITY OF JESL"S AI%D 11.4RY.4)GLO IRISH PRON'I.T%CE REFERENCE .4ND ADMINIS'I'R.4TIO.N DE'I'AILS FOR THE YEAR ENDED 31 .4[IGL'ST 2023 REFERE)TCE AND ADNIINISTRATII:E DETAILS Tr"ull .Name: Thc Bn115h Islcs Proi'iT]ce ol. the Congiregialion of Sisters of C'hariii ot Jesus and Nlar Address: Proi'incial Hou.£e 108 Sprin,, Road Letchis"orth Garden CilN' Flertfordshirc SG6 JSL Charity .Number: ?jl?6? Governing Instrunien¢: Trusi Deed dated 18 Januarn 1967 Object: For SilLh ehariiable purposes i¥.hich adi.anee Ihe religJious and other charitable purposes t-or the time beincy cai'ried on b! or under Ihe dir¢ciion ot"Ihe CongregJaiion. Congregation Leader: Sister Elizabeih Roche Trustees: Sister Mar%, F.Ilen O'Brien Si%ler Philomena Enrighi Sister Patricia Josephine Callaghan Sisier Ann D¢i'ine Si%iei F.Ileen O'connor Sisier Kaihleen O"Connor (Appoini¢d on 2) JanuaTr 202)) Sisier Rosili Nfaihunn}' (Apwbinied on 25 January, 2023) Sisier Elizabcih Roche Bursar: Nlr. Alan King Solicitors: Poih¢Lar)' Il'itham 11:¢ld 84 Eccleston Squarc Pimlico London Sll"IV I PX Auditor5: HaTr'smacinli're l.LP l O Qu¢en Sire¢i Place London EC4R IAG 17
SISTERS OF CHARITY OF JESL s.ND,ARy ANC.LO IRISH PRnl'lNCE REFERE.YCE A.YD ADIIINISTRATION, DETAILS FOR THE YEAR EYDED 31.4L,GLST 2023 Ini'e5tmenl .4di'isers: Julius Bar Internaiional I Si Nlartins Le Grand London EC IA 4.4% FISBC Prii'ate Bank Cork Sireet Nlai"lair London IK'IS 3LJ Named Charil). Correspondellt Mr. D J Clark 1st Floor. Church House 61 C()Ileoe Road Bromle!. BRI JQG Named Trustee ii'ith Charih. Commission: -Sisier Elizabeih Roche Pow'ers of Ini'e5tment: Monies mai. be ini'esled in ini'eslmenls authorised bl. 1aM. for Ihe ini"esimenl ol" Irusl lunds: Ihal is. Ihe proi'isions of. lh¢ Truste¢ Aci ?000 applies.
Independent auditor's report to ihe Tru_siees of Sisiers of Charii!. of Jesus .Man', An%lo-Iri%h Provinee Opinion li.'e hai'e aiidited the tinancial stat¢ments ol-sisiers of Charili. ot-jesus 1nd Ilan.. .4nolo-Jrish Proi'ince (the 'chariii-I lor the l'ear ended JI .4u&Just ?0?" -J. ii"hiLh comprise ihe Statemeni ol- l.ina11Lial ActiN'ities. the Balance Sheel. Ihe Statcnicnl ul-cash Floii's. dnd ihe relaied notes. Including a bun)marn' ot signiticant accounting policies. The financial reportinL frameii'ork thai has been applied in their preparation is applicabl¢ l(114" and Lniied Kingdom Accouniing, Siandards. includinb Financial R¢porting 8iandard 102 The Financial ReportinL Standard applicable in the UK and Republic of Ireland {I;.nitL.d Kingdom Generalli ilicepied ,KccountinL, Praciice). In our opinion. Ihe financial siaiemenis.. LJjl'e a true and fair i-ieii" of the state of the charits. s affairs as at 31 AugTU5t 202i and of the ¢hariti' s n¢i nioi"emeni in lunds lor the l'ear ihen ended- hai'e been properl!. prepared in accordance ii-ith Llnited Kingdom (ieneralli. Ac¢L"pl¢d ALcounting PractiLe: and hake been prepared in accordance ii'ith ihe requirements of ihe Charities Act 2011. Basis for opinion Ie Londucied our audii in accordanLe ii.ith Inlernationdl Siandards on Audilino (UK} IISAS ILIK11 and applicable laii.. Our responsibililics undcr those standards are lurther described in the Auditor s re4p()nsibililie5 lor the audii ol. Ihe tinanLial statements seclion ol- our rep()rl. li'e are independent ot the charil>' in accordanLe th'iih lh¢ ethical requiremeiits thal are relei'anl lo our audil ol. Ihc IinanLial staiemenis in Ihe Uniied Kingdom. includingT Ihe Financidl Reportin&F L uunLiI s E"IhiLal S(andarLI. and 'e hai'e fulfilled our other cihical restx)nsibiliiies in accordance ii-iih these requiremeiits. 11 L bL.IiLN'e thai th¢ audit ¢i'id¢neL' N%e hai e obtained is sullicienl and appropriate lo proi.ide a basis lor our opinion. Conclusions relating to going concern In audiiing ihe tinaiiLial stalenienls: i4'e hai'e concluded thal the Trustees use of the going conLern basis ot-accountingJ in the preparalion of Ihe linancial siaiemenis is appropriate. Based on ihe 'ork M'e hai'e pertornied. Nie hai'e noi ideniilied an% maierial unceriainlies relating to ¢i'ents or conditions thal. indii'iduallN" or colleciii'eli.. mai" casi si¥initicani doubi on ihe charit} s abilil)" (O Lon(inue as a gioing) concern for a period ol-at Icasl Iii'eli'c monihs fron) ii'hen ihe fl112L ncial slalLIIILnls are auih(Iris¢d lor issue. Our responsibilities and Ihe responsibiliiies of the Tru5tecs ii'iih rcspcci io g¥oing' cc)ncem are described in the relei.'anl sections ot. this rLport. Other information 'Ihe other intormaiion comprises the infDrni21ion included in Ihe Trustees Report otlier than the linanLial statements and our Auditor s report thereon. The Trusiees are responsible tor the oihcr int-omialion conlain¢d M'iihin the Annual report. Our opinion on ihc financial siaiements does not coi'er thc othcr inlomialivn and. ¢XLepi io Ihe exieni oiheni'ise eipliciil!. statcd in our report. H"e do noi e.xpress any t-onn ot-assurance conclusion ihereon. Our responsibilil!. is lo redd the oihLr inlomiaiion and. in doing7 so. considLr i%'heihcr ihe oiher infonnaiion is maleriall!. incoiisislenl %%'lth ihe tinancial statements. or our knO.ledge obtained in the audii or otheni'isc appears to be materiall), missiaied. It. 'e idenlifN' such maierial inconsisiencies or apparenl material mis5taiemenis. Il'e are required to delemiine 'hether there is a malerial mi5slalemeni in ihe linancial siaiemenls Ihemseli'e5.11'. based ()n th¢ w'ork H'e hai'e pertonned. ii"e LonLludi thal thLr¢ is a m¢ll¢rial misslalement ol- this i)Iher inlormaiion. M'e are required 10 rewn ihai faLI. 19
Indtpendent auditor's report to the Truste Sisler5 of CbarilTr" of Jesus and Marn.. An%ltsvIrish Proi'inLe We haN."¢ nothing to report in thi5 regyard. Matters on hich M"e Are required to report b!. exception We hai'c nvthing? to report in respect ol- IhL' lulloming, matters in relation io ii,hieh ihe CharitiLS {Accounls and Repoi'ls) R¢Liulaiion5 *008 requires us lo rLPOrt to l.ou If. in our opinion.. lh¢ infomiiilion gii-cn in the Trustee s report is inconsisteni in anN' material respecl iK'iih Ihe tinancial statemenis: or sullicienl and proper accountin(J rccords hai"c not been kepl- or Ihe charil). tinancial statements are nol in agreen)eni ii-ith ihe accounling5 record5 and retums: or 'e hai'e nol receii'ed all ihe information and explanations li'e require for our audit. Respon%ibilities of trustees for the financial statements As giplaiiied iii()r¢ lullN' iii lh¢ TruslCCS resp()n%ibiliiies 51aiement. the Trustecs ar¢ responsible tor th¢ preparaiion of the linancial siaiements i%"hich gyji"L a irue and tair i ieii". and for such iniernal Lontrol as the Trustees detemiine is neLL"ssarn' lo eiiable the preparaiion of fin¢la1 statenients tlial are t.ree Irom material missiatemeni. 14 heiher due 10 Iraud ur error. In preparing lh¢ financial stalemLnis. the Trustees are responsible l.or assessing) thL charili. % abilil!. t() L()lliinue as a gioing concern. disclosino. as applicabli. mallers rilat¢d to Lioino c()ncern and usii)g the goiniF concem basis ot. accounting unless ihe "l-ruslees Liiher ini¢nd to liquidaie Ihc chariiN' or 10 Lease operations, or hai'e no reali51iL altemalii'e bui to do so. Auditor's re%ponsibilities for the #udit of the financial slateJDenls We haN'e bLLn appi)iiitLd as auditor under seciion 144 of ihe Charities Act 2011 and report in aLcordanLe i¥"iih the Act and relei'anl re?ulalions made or hal'ing clleci iher¢under. Our objeclii'cs are lo obiain reasonable assuranle about ii'heiher the financial siaiemenls as a ii.hole are tree Ir()m material misstaiement. iiheiher due Lo t.raud or error. and lo issue an Audiior s report thal includes our opinion. Reasonable assurance is a high lei-el ot assurance. bul is nol a gjuaraniee that an audit conducied in accordanLe '11h ISAS (LIKI M'ill alii'al's delect a maierial mi551atein¢iil 'hen it exists. fvIis51ai¢ments Lan arise Irom Iraud ()r error and are considered maierial it-. indii'idu¢illi or in thc agy&iregiate. Ihe!. Lould reasonabl!" be expecled io inlluence ihe L'LonoiniL dcLi%ions of users tak'cn un ilie basis of tliese Iinancial slaiemenis. Irrebjularilies. kncluding fraud. are insianLe% ol" Iion-Lompliaiice 11 ith la"$ and rcgTulaiions. WL desigyn procedures in line ii.iih our responsibili(ies. outlined aboi"e. 10 deleei material mis£tatenienis in rcspeLI ot- irregiularilies. including traud. The exteni to ii.hich our procedures are capable ot" dele¢ling irreg)ularities. includingJ t.raud is delailed b¢loii'= Based on our understanding of the charii!, and th¢ eni'ironm¢nl in il'hich it operates. and through discussion '11h the 'frustees and other mana¥pement las required bi. auditing¥ standards). K¥e identitied Ihal the principal risks of non-compliance ii-iih laii"s wid reoulalions. related to salLLTuarding' regulations, anti-bribcrN'. care qualil!. commission compliance. emplol'ment laii" and tayes and CharilN' lai¥.. and 'e considered the L.xient to ii"hiLh non-complidnce might haie a niitierial et'leci on ihe tinancial siaiernenls. li e also considered Ihose laii's and re(Fulations that hae a direcl impact on the preparalion ol- the tinancial siatemenis such as ihe Chariiies .4LI 701 l and ihe Charilies SORP (FRS 102} and other relei'ani charii!" Icbjislaiion. M e conimunicalcd identitied laMs and re¥sLilaiioiis througyhout our i¢am and rLmained alLrt to ani. indicalions ol- non-LoniplianLe IhrouLJhout tli¢ audit. 20
In(lepeDdent auditor's report to the Truslees of Sisicrs of Charits. of JvDU5 Ivlarn. Anglo-lrish ProNince We ei.'alualcd Tiusiees and managcni¢nl'S inienlii'es and opportunilics for fraudulent manipulation of th¢ financial statements (including the risk of oi-erride of conlrols) and deiermined that the principal risks ii.ere relaied 10.. rccognilion ol" income. wslin¥ iiiappropriaie.journal enlriLs t() Increase rei enue or r¢duLe expenditur¢' and manab?ement bias in accouniino estimates and judLFemental arcas ot. the tinanciJl sldleTnenis. Audit procedures perlormed b!. Ihe eiiLiag7ciiicnt leani inLluded-. Rcading minutes ot-meeiinos ot"Ih05e charged ii'iih goi'emance. Discussions H-ith manaLJ¢meni includinLT considL'raiion of knOTr or su5peeied Instances of non- compliance '1th laii's and rL'gulaiion and t-raud- Challengino assumptiuns and judgemenis niadv bi management in thcir critiLal acLouniing cslimaies. Assessment of identified fraud risk. factors. PciLurniing' anall'tical proLedurcs 10 identifi. an!*. unusual or unexpected relationships. including rLldied part. Iransaclions. Ihdi ma!. indiLate risk5 of niaierial misstatenieni due io fraud. Confirmaiion ot" related parties ii'iih manaL)emenl. and iei'ieii. of transactions ihroug,houl the period to identit!, an!. previousl!. undisclosed transactions H"iih relaied parties out5id¢ the normal course ot- business Rei'ieii, of signiticant and unusual trdnsactions Identitl'ing? dnd tesiing journal entries. in particular manual enirkes made at the N'ear end lor linancial stalemeni preparaiion. Because of the inherent limitaiions of an audit. Ihere is a risk Ihai iK¢ ii'ill not detect all irregulariiies: includingy those leadingF io a material mi5Statemeni in the fiinancial siaiemenls or non-Lompliance i¥'iih regyulation. This risk increases the more ihai compliance i4.ith a laii" or regiulation is reinoi'ed Iroin ihe events and IransaLlions relleoied in the tinanLial staiemenls. as lic Ni ill be less likel}. lu bcL(iime ai¥ar¢ of inslaiicc5 01- nun-compliancc. Thc risk is also gir¢ateT regarding irregyularities occurring due to fraud raih¢r than error. as fTaud iniToli'es intentional concealmenl. for&iery'. collusion. omission. or misrepresentation. A further descripiion of our responsibiliiies for the audil ot" the financial slalL'm¢nis is located on Ihe Finanlial Reporting Council-s ebSite ai-. MiiTri'.t"rc.or .uklaudiiorsrL'S onsibilities. This description tonlls part of our auditor s rewrt. L,5e of our report This report is made solcl!. to ihe charily s Trustees. as a bod!.. in accordance ii'ith seeiion 144 ot- the Chariiies Act 2011 and rLgulations made under section li4 of ihai Aci. Our audi( Ork has been undL¥rtaken so ihat li'e migThi siaie io ihe charil!"'5 Trus(ees Ihose Inall¢rs ii"e are requircd to siaie io them in an .4udilor's repurt and tor no other purpose. To ihe tullesl cxteni penniiied b!. laM'. w.e do noi accept or assume responsibiliiN' io anl-one oiher Ihan the charit!. s Trusiees as a bod), for our audit work, tor this r¢port, or t.or the opinions "e ha¥'e tormcd. Hai'smacinh're LLP Si<iiuiofN' Jludiiors 10 Queen Streel Place London EC4R IAG Date: 26 June2024 20?4 Haysmacint)'re LLP is eligible io act as an audiior in lemis of seclion 1212 of the Companies Aci 2006 21
SISTERS OF CFIARITY OF JF.SLS IIND NI.4RI' tlNGLO-IRISII PRC)N"INCE STA'fE,NIENT OF FIINANCIAL ACTII'ITIF. FOR THE YEAR F.NI DED 31 AL,GLST 2023 Total 2023 Total 2U22 IIICOIIIF. from Grants: donalions. and legpacies ?84.925 319.974 Charitable actii'ities - Care Home Residents l.ees 1.239.712 1.019.972 Other trading aciii'ilies R¢nls receii.'able from eharitable-use properties lemporaril!. surplus to operalional requiremenls 10.800 10.799 Invesimenls 508.147 4J8.311 Other income - Surplus on disposal of iangible fi.xed assets 297.i44 700.105 Totgl Income 2.341.128 ?.489,161 F.XpElDITuRE on Cost of raising, funds - Invesiment Managemeni fees 1 ?8.430 l i6.046 Charitable actii'itie5 - Care Home Support of memb¢r5 of the Congregalion and their ministry Granls paid 1.781.914 46? 709 1.437.346 408.6)8 1.9)] ?64 66? ?)5 4.176.887 2.508.? j9 Total expenditure 4..30i.317 2.644.705 Net txpenditure before losses on ini'¢5tments 11.964.189) 115i.144) Othcr recognisedlosses i ei losscs 011 ini'esiiiienis (175.94i I {1.127.8i9) Net moi'ement in funds {2:140,132) (1.283.OOi) 22
SISTERS OF CHARITI. OF .IESLS ASD MARY ANGLO-IRISH PROITI,NCE STATEMENT I)F FIryAT%CIAL .4CTII'ITIES (continued) FOR THE YEAR EYDED 31 ALGLST 2023 26.606.84? ?7.889.84j Fund balances broughi foni'ard ai beginning of l'ear (? 140.li?I (1.283.00)) Net moi'emeni in funds Total funds carried forni8rd at end of )"ear £?4.466.710 £26.606.84? The StaiLment of Financial Aclii'ities includes all gains and losses recognised in the K'ear. There '¢re no discontinued operations or acquired opcrdlions duringj the Lurrent or the preceding, year. The noles on pagJes ?9 10 41 form part of ihese financial sialements.
SISTERS OF CHIIRITI. OF JESLIS A)D 11.4RY ANGLO-IRISH PRON'INCE BALAISCE SHEF.T AS AT 31 AUGUST 2023 2023 2022 l%"otes FIXED ASSETS 13 3.024.21 3.171.83i INVESTNIFNTS 14 20.206.921 20.474.640 ?3.231.132 23.646.47i CLRREINT ASSL"I S Debiors Shon-iemi dep051ts Cash ai bank and in hand li 7j.jl? -8?8.177 549.716 126.016 437.213 2.8? j.462 2.4il.35i 3.-i8.).691 C.RF.DIT()RS: Amount5 falling (lue ii'ithin une i ear 16 (632.091) {159.6J8) NET CURRENT ASSETS -819.?64 -3.2?4.053 TOTAL CI."RRF.P*T LIABILITIES ASSETS LESS 25.050.396 ?6.270..i?8 CREDITORS: Amounts fallin% due after more tban ODe l'ear 17 {58.).686) {263.()861 NET ASSETS ?4.466.710 ?6.606.84? FLII%DS Gcneral DesigJnated Reiirement Fund Fixed Assets .2i5.i78 2.960.)67 18 20.206.921 J.024.?11 20.474.640 3.171.835 2J.-Jl.132 2.3.646.475 TOTAL FtillDS 19 24.466,710 26,606.84?
SISTERS OF CHARITY OF JESLS AND IIARY ANGLO-IRISH PROVIINCE BALANC.E SHF.F.T (continued) AS AT 31 ALIGLST 2023 The financial st(itemenlS 11-¢re approi'ed and auihorised for issue b!. Ihe Trusiees on and sigJned as auihorised on their b¢halt' bv.. £. /( /, Sister Elizabeth Roche Trustee Th¢ notes on pages 29 10 41 fonn part ot"Ihese financial sialemenis. 25
SISTERS OF CHARITY OFJE5LTS ATriD MARY ANGLO-IRISH PROITINCE CASH FI,0 STATEMEP*T FOR THE YEAR ENDEDJI ALC.L,ST21123 2023 2022 Cash flom's from Operating.4ctii'itie5 Nel cash ouiflow. from operaiing actii'ities (1,824,744) (1,140,712) Cash flo"5 from ini'estln2 actii'ities Dii'idLiids and inierc.st t-rom ini'esimLnis Receipts trom sale of fixed assets PaN'menis io acquire fixed assets Pa)'menls tu dcquire ini esiments Receipts from sales ot. ini"estmenis 508.147 JSJ.711 li9.7?1} (10.9)8.111? I1.0?9.9)8 438.311 90?.(161 (18.?fj01 (10.118.995) 10.2ii.187 N¢t Cash proi'ided b!" ini"esting actii Aties 944.91.1 1,4i8,314 Change in cash #nd cash equii'alenls in l'ear {879,8.12> 317,602 Cash and Lash equiN'alents ai I S¢plember 2022 3.2i7.67i 2,940.073 Cash and Cash equivalents at i l August 2023 2,377.843 -1,247.675 The notes on pagyes 29 to 41 t-orni part of these financial stalcments. Notes to the Cash Floii. Stat¢tnent A. Reconciliation of net moi'em¢nt in fund5 to llet cash floM' from operating actii'ities 2023 2022 Net moi'ement ill funds (as per the S¢atemeDt of Financial Actii'ities) (2.140.1 J2) (1.283.003) Adjustments for Losses on ini'estmenis Div idends and inieresl Irom inesIm¢t$ (Gains) on disposal ot- ti.xed asseis Depreciation Delrease in debiors Increase in creditors 17i.94J li08.1471 1?97.i44) 100.178 1.1?7.859 (438.311) (700.1 Oi) 96.)68 14.656 41.6?4 79? 4)) Net cash (used in) operxiing actii'ities {1,824,7441 1,140,712) 26
SISTERS OF CHARITY OF JESLS AN'D %IARY ANGLO-IR15H PROVINCE CASH FI.011 sTATEMF.T FOR THE YE.4R EIDED 31 AUGL"S-1" 2023 2023 2022 B. Anal1'515 of cash #nd cash e4uiI'al¢Dts Cash at bank and in hand Short-tertn deposils i49.716 1.8?8.127 2,8? j.46? Total cash and cash equii'alenls 2J77,843 3,257,67S C. AnalTr'515 of changes in net eash funds September 2022 Cashfloii's 202_3 Cash al bank and in hand 3.? j7.67) {879.8.) ?.j77.843 Total cash and tash equii'alenls 3,2i7,675 {879,8_12} 2,-177,843 27
SISTERS OF CHARITY OF JESL.S AND %IARY
ANCLO-IRISH PROVINCE
'OTES I'O THE FINANCI.4L STATE,11ENTS
FOR THE YEAR ENDED31 ALGL'SI. 2023
General information
The Sislers of Charity of J¢sus and Marn. is an unincorporaied charit!" in Eng>land
SISTERS OF CHARITY OF JESLS AI¥4D 11.4RI'
ANGLO-IRISH PROVINCE
NOTES TO THE FINANCIAL ST.4TEIIEIYTS
FOR THE YEAR ENDF.D31 AiIGLST2023
Income recognition
Income is recognised ..hen the charil!- has enliilemeni io the t"unds. ani. performance conditions
atiachLd to Ihc itcm(s) ol. inrom¢ hai"e been met. it is probable Ihat th¢ iii¢om¢ will be receii'ed. and
the amount can be measured reliably.
For legacies. entitlement is tak.en as the earlier of Ihe date on ,hICh eithcr.. the charilv is a..are ihat
probate has been gyranled. the es18te has been finalised and notificalion has been made b! the
executorl51 lo the Tru51 Ihat a dis(ribution iiill be made. or ii.hen a dislribuiion is receii'ed troin the
estate. ReLeipi ()l- a leoaLI'. in %i'hole or in part. is onl!" L(InsidL'rid probable ii'hen the ainouni cali be
measured reliabl).. and Ihe Lh11!. hd5 bLL"n noiilied ol-the e.xeLuior s iiitentioii to Inake a distributio)n.
W'here legacies have been noiitied io the chariTh-. or the charil!" is aare of ihe gyraniing) ot- probate. and
the criieria tor inLomL rccognilion hai"c noi b¢¢n mei. Ihen ihe le2acN' is a treatcd as a contingeni assei
and disclosed if material.
Income receii'ed in advanLe ()l- th¢ prol'ision ol care scTh'ice5 is delerred until the criteria t-or in¢oni¢
recognition are met.
In accordance wilh the C harities SORP FRSI O? volunieer time is nol reLognised.
Dii.-idends are recogFnised once ihe dii-idend has been declared and noiitication has been recei.ed of
the dividend du¢.
Interest on t-unds held on deposit is included ii.hen receii"'able and ihe amount can be measured reliabl )'
by the charity. Ihis is nonnall!. upon nolilication ol" th¢ Inierest paid or paN'able b!. lh¢ bank.
Expenditure recognition and irrecoi'erable N'AT
Exp¢nditure is recognised once ih¢r¢ is a legal or conslruLlii-e obligaiion io m
SISTERS OF CHARITY OF JEStiS ASD MARY ANGLO-IRISH PROVIN'CE NOTES TO THE FINANCIAL STATEMENTS {CODlinued) FOR THE YEAR EP*DED 31 AUGLiST 2023 Allocation of support 3nd goi'ernance cost Support costs represent indirect charitable expenditure. In order to Carry. out the primar). purposes of the charil), li is neLessarn' lo proi'ide support in Ihe forni of personnel dei'clopineiit. findncial procedures. prow ision ot-otlic¢ sen'ices and equipm¢ni and a sulb]e i¥"ork" ing eni iroiinient. Tan%iblc filed assets As at 31 August 1996 th¢ Trustees estimaied th¢ currenl i.alue of fixed assets required to be ShO,n in the balance sheet. Subsequent acquisiiions or improi'emenis of £? JOO or more are capilalised at cost and are depreciaied oi'cr th¢ir eslimaied uset-ul ¢conomic lii'es on a siraighi-line basis as follo..5.. Where no fonnal anall'sis is ai'ailable. il is assumed that the cost Ii'alualion of freehold properlies deriN'e equall). trom the land and the buildings. Annual rate Freehold land Fre¢hold buildings Long leasehold buildings and improi'emenls Fixtures. lumiture. and equipment Molur i'ehicles Nil 2/ 250/0 Financial InstrumeDts Th¢ chariti, onlN' holds financial assets and financial liabiliiies of a kind thai qualih. as basic tinancial insirLimenis. Basic financial insirumenls are Initiall recogyniscd at transaciion i'alue and subsequenil! measured at their settlement i'alue. Ini'estments Iniiesimenis held for the long-lcnn lo generat¢ income or capital groiiih are carried at fair value as tix¢d assets. Realised g)ains are the difference beN"cen sales proceeds and ihe cam'ing Nalue ot"Ihe invL'stmenl. The cam'ing N'alu¢ is the lair i'alue ai Ihe beginning ot- th¢ l'ear or Ihe purchasc c()st Ki'hcr¢ the ini'csin)ent was acquired durin¥ the !'¢<W. Unrealised gains are the Lhange in i'aluc of ini'estm¢nls ati¢r considerino an}.. moi'emenls in investment holdingys such a5 purchases and disposals ot- ini'esimenls. Realised and unrealised gains arc accountcd for M-ithin the Statement of Financial Actii'ilies. Debtors Trade and oiher debiors arc rccognised at the seitl¢mcnt amouni due. PrepaMentS are valued a¢ the amount prepaid. 30
SISTERS OF CHARITY OF JESUS AND MARV ANGLO-IRISH PROVINCE NOTES TO THE FIN4AYCIAL STATEMENTS Icontinutd) FOR THE YEAR F.NDF.DJI AUGL5T2023 Cash at bank and in hand Cash ai bank and in hand includcs cash and short-terni higlill liquid ini esiinenis iiiih a shon maiurit}' ot" thrcc months or Icss Iroin lh¢ dale ol- dLUUlSition or i)peningi of Ihe depo.sii or 5iniilar accouni. Deposits for more than three monihs and up to one l'ear hai e been disclosed as shon-lerni deposits. Cash placed on deposit for more ihan one l.ear is disclosed as a fi.xed assei ini.esiTnenl. Ser+'ices provided b!. membcrs of the Congr¢gation For the purposes of these accounis. no i-.alue has been placed on adminisiraiii'e and other sen'ices provided by the memb¢rs ol- the Congregation. Creditors and proi'isions Creditors and proi'isions are recogjnised ii'here Ihe charili. has a preseni obliiJaiion resuliing from a past ei'eni (hai iTr"ill probabl!. resuli in the transfer of lunds lo a third partN and IhL' aniouiil due lo serilL the obligation can be niea5ured or estimaied reliabl!". Crediiors and proi'isions are normall!. recognised at their settlement amount atter all0,In8 tor ani" Irade discounis due. Foreign currencies Assels and liabililies in foreigjn currencies are Iranslated into sierlingj al the raies ol. eYchanbTe rulingi at the balance sheet date. Transactions in loreion Lurr¢nLies arc Iranslated int() 51crling al the rai¢ ()I' eKLhangTe ruling) ai the dale ot the Iransaction. ExLhangie ditlerences are considered in arrii'in&J at the n¢1 moi'emenl in funds. Funds General funds eomprise the accumulated sury>lus or deficii from the Statement of Financial Actii'ities 'hich is not restricted or dtsigJnated funds. The!, are ai'ailable for use ai ihe disereiion of the Trustees in lurtheran¢¢ ol- the general objectiN'es of Ihe Lharil).. Designated lunds comprise funds Ih(ii hai'e been set aside ai Ihe discretion of the Trustees for specific purposes. The purpose and use of the designated unresiricled funds are set oul in the notes lo the accounts. ResiriLi¢d income tunds comprise donations and grants held in trust to be applied lor 5pecitie purposes. RL"Stricled funds in recenl ! ears related to Coi id gFranis M"hich ii'ere tull). speni bclore the year end in accordance Ns'iih the relei'ant resiriclions. These have noi be¢n separatel). disclosed in the Statemenl ot FinanLial ALlii'ilic5 due lo bein2 Immaierial. EmploTr'ee benefits Emplo)'menl benetils. including holida). paN'. arc rccognised in th¢ period in 'hICh the), are earn¢d. Termination benefits are recognised in ihe period in 'hiCh the decision is tnade and communicated to the relevant emploi'ee(sl.
SISTERS OF CHARITI, UF JESUS" AND %1.4RY ANGLO-IRISH PROVIYCE NOTES TU THE FINANCIAL STATEMLYTS (corttinuedl OR THE YEAR ENDED31 AUC.UST9023 Pension enntributions Contributions in respecl ot ihe charit!" s delined Lontribulion pension scheme are charg5cd to ihe stalemenl Ot financial aLliI'ilies ii"h¢n th¢N' ar¢ paN"able 10 the schem¢. The charili. s coniribulions are r¢stricied 10 Ihe contributions disclosed in noie 9. -1-herc iserc no ouistanding Lontributions at the l'ear end. The charil). has no liabililN' be!"ond makin&J ils Conlbul10S k)nd pa)'ing¥ across the deductions for the ¢mplo!.'ees contributions.
515TERS OF CHARITY OF JF..SL15 AND 1¥1ARY ANGLO-IRISH PROVINCE NOTES TO THF. Flh'.4NCIAL STATEMENTS (continued) FOR THE YEAR E%DED31 ALGLST 2023 GRAry"I"S, D())ATIOJS .4ND L Tr.G.4C"IES 202.1 2022 Sisters, salaries and pensions Restricted Coi'id Grant8- all spent in l'ear Other donations 277.238 280.264 33.80_1 i.907 6.70) 984.9? j J19.974 INVESTMEI%T INCO.ME 2023 2022 Income from listed ini-eslmenis Bank iniL'rest 416.936 1.37) ?4.911 i08.147 4J8.)11 SURPLUS ON DI%PC)SAI. OF TAfiGIBLE FI.XED ASSETS lolor 'ehi¢les Properh. 2023 2022 Net proceeds from disposal Less.. net book i'alue ok- a55els disposed of 377.491 (87.166) 7.220 i84.711 90?.061 11) (87.167) (?01.9i6) 290..)? j 7.?19 ?97. j44 700.1 Oi EXPEINDITI:RE ON4 CHARITABLE ACTII'ITIFS CARE HONIE 2023 2022 Staft- cosis DirLLI L0515 Premi5¥S L0515 D¢preLialion Administration and oiher cosis 1.03i.974 104.001 JJl.927 948.947 93.478 l?l.j74 111 112 72.198 1,64i.870 1.)09.089 Governan¢¢ and suppon cosis 1)7.044 1?8.2)7 1.787.914 1.437.346
SISTF.RS OF CHARITY OF JESLS.4Tr4D MI ARY ANCLO-IRISH PROVINCE NOTES TO TH F. FINAINCIAI. ST.4TE11ENTS Iconiinued) FOR THE YEAR ENDF.D31 AUGU'ST 21123 EXPEN'DITIIRF. ON CH.4RITABLE,ICTII"ITIES SUPPORT OF IlEIBERs OF TIIE CONI C.REGATION .4J'D THEIR I111STRy 2023 2022 Sisters. liN'ing & personal expenses Premises cosis Deprecialion Adminislralion and other cosis 233.199 100.Jl? 207.761 90.78) 23.676 9.48i 9.6iO 380.48.) Goi'ernance and suppon eosts 46? 709 408.658 EXPEN'DITIIRF. ON CHARIT,IBLE ACTII'ITIES C,R.4f%TS P.41D 2023 2022 Grants paid to Di'erseas branches of the Congregation Ireland - Siipport ol- sisiers and their ministri¢s Ireland- Cummunil! support Grants f()[ buildiniJ ot'c onLbreLFalion Care Home for the ElderlN' in Rwanda Cjrants to Gcneralate ol. th¢ Congyre&Jaiion J77.262 309.1.)O 80.8•? ?00.000 400.000 l.Oli.109 ?i.000 1.876.447 610.9)2 GoN'ernance and support cosis 54.817 1.9)1 ?64 66?.2)5
SISTERS OF CHARITI" OF JESLS AND %qARY ANCLO-IRISH PROIIINCE NOTES TO THE b INANCIAL STTF.lENT {Conlinuedl FOR THE YEAR ENDED 31 AUGU'ST 2023 GON'ERTr•AYCE AN'D SLPPORT CO%TS 2023 2022 Support costs Sialy cosis Prolessional lees Preiniscs and insuraDee Administration and oiher costs ljl.9?4 119.718 7.767 55.920 50.678 j4.8?? ?i0.16? Goi'ernance co.sts Professional t.ees ?j.9?j ?74.0117 ?j6.jl j Allocaled a5 follows.. Care Hon]L" Support of members ot-lhe CongTregFaiion and their minist Grants paid 137.044 128.2)7 76.953 i4.817 274.087 256.513 NET INCONqE/EXPEl%I)I'fL RE TrOK'fHE I'EAR 202.1 2022 This is stated after charging: Ini'eslTneni managetnent fees Depr¢¢iation Audiiors. retnuneration Audit fees (including VAT) 118.4iO 100.178 136.046 96.)68 18.050 16.8iO
SISTERS OF CHARITY OF JE.SL'S AND Tr1ARY ANGLO-IRISH PROVINCE NOTES TO THE FINANCIAL sTATEIENTs (Continued) FOR THE YEAR ENDF.D31 .4LGLST 2023 STAFF COSTS AND TRLSTEES RF.MLJEIL4TIO. 2023 2022 S1217-LOStg during the !'e2r 'ere as follom's: agjes and salaries SoLial securili" cosis Pension costs 1.0*9. j71 962.100 £1.167.8Y8 £1.068.66i 202_1 2022 The number of emploi L'es whose emolum¢nis exceeded £60.000 ii"ere= £60.001- £70.000 The ke! management personnel of the charl. comprise the Trustees {-hO receive no fomi of remuneraiionl and the senior manaLy¢iiient team. The ioial amount ot emplovee benetits {includingJ emploi.er pension contribulions and emplo!"cr Nalional InsuranLC C()Iitribulions) receiN'ed b!, ke!. managemeni personnel for iheir sen'ires to the chariti. 'aS £1 i7.817 {2022.' £lil,3JJ}. The IM.'o mosi senior emplol'ees. 'hO are considered io be rnembers ot. the kei. managjement p¢rsonncl. i4.ere paid in ag'g?reeale £119.?44 {?0??- £1 li.02 and the cnipl()ier N'aiional Insurance cost li ere £17.2741?U)?= £1).618) 1% iih Lmplo}'er s pension coniributions amounting to £21.299 (20?? £?? 693). 10. STAFF NULIIBERS AN'erage staty numbers in the i.ear iiere= 2023 2022 Care Home Administration 46 48 54
SISTF.RS OF CHARITY OF JF.SUS AND MARY ANGLO-IRISH PROVINCE NOTES TO THE FINANCIAL STATEMF.NTS {Continuedl FOR THE YEAR ENDLDJI AUGLST2023 11, TRLSTEES, EXPF.N5ES AJD RE)ILNEIL%TIO)'.4ND TRANSACTIONS II'ITH THF. TRL,'STEES The TrustLes ol. the Charil!. are also memb¢rs ot"Ihe Congreoalion and as such hal'e taken i'0S of poi'ert). under ii"hiLh ihe!" hai'e ienouncld all personal rights to income and capiial. Thc Charill, proi'ides for Ihe essenlial neLds of all men)bers of Ihe ConLTreg)alion M'iihin ihe Proi'incc. The lii'ing CL)Sts of th¢ Trusiees are iherelore bome b!. Ihe Charil).. 12. TAXATION The Sisters of ChariN' of Jesu5 and Man. Anglo-lrish Proi'ince is a regisier¢d charit!- and theret"or¢ is not liable 10 IncornL Tai or Capital Gains Tax on income or gain5 deriN'¢d trom its Lhariiablc actiN'ities as it falls ii'ith the i'aTiOUS eKemplions ai'ailabl¢ to reg?isiered charilie5. 13. TANGIBLE FIXED ASSETS Leaschold Freehold buildings and and Fiitures, Furniture and e4uipmenl l¥lotor improi'ement5 buildings Vehicle5 Total COST OR VALU.4TION At l%i ScpiLmb¢r 2022 Additions in l'ear Disposals in year ).168.144 1.219.630 39? 197 114.184 4.894.15j i,)61 {1)4.i89) (i6.17i} (170.7641 At 31 Aug?usi 2023 3.168.144 1.08i.041 i9i.7i8 114.169 4.763.I12 DF.PRF.CI.4TIO Ai I September ?022 Charge t(Ir }'ear Disposals in l'ear 1.038.049 63.)63 3?4.470 10.8iO (47.47) I ?j9.i08 100.493 12.36? 13.603 136.174) 1.722.320 100.178 18.).i971 Ai 31 Augu512023 1.101.412 ?87.897 •71.670 77.9?? 1.738.9111 ET BOOK VALLE Ai JI Au¥Just ?0?" £?.OC)6.7i2 £797.144 £1 ?4.088 £i6.?47 £3.0?4.211 At 31 Augyust ?022 £2.liO.09i £89i.160 £1 j2.889 £13.691 £1.171.835 37
SISTERS OF CHARITY OFJESUS AliD TrIARY ANGLO-IRISH PROI'INCE NOTE5 TO THF FlTr*ANCIAL STATEMEYTS (Continued) FOR THE YEAR EINDED3I ALGL'ST 2023 14. INVESTIIIENT.S 2023 2022 Al I Sepiember 2022 Additions Disposals Proceeds ?0.474.640 10.9J8.18) 21.7J8.691 10.118.99i ( I1.0?9.9 j8) {10.?55.1871 {L05sesl by reference io opening N'alue (67.8))) (689.569) Disposals {at opening markel i.'alue) Unr¢alis¢d losses (11.097.793) (10,944.7i6) (108.1081 (438.?90) Ai 31 August 2023 0.206.921 20.474.640 2023 2022 Listed on a UK stock eAchang¢ Equities Fixed inierest stocks 8.971.780 10.6?? 80? 12.889.i56 7.104.17Q 19.i94.j82 19.99j.93 5 ForH"ard FNchaiigTe Currency Portlolio bank. d¢posits {36.8861 517.i91 612.339 ?0.206.921 20.474.640 Ai ¢ost 19.940.>11 19.039.8i7 15. DF.IITORS 202.1 2U22 Due M'ithin one vear TradL debtors Prepa}'n]enls and accrued income 46.Oi3 79.963 126.016 38
SISTF.RS OF CHARITY OF JESLS ANI D MARY ANGLO-IRISH PROVINCE 01-ES TO THF. FINANCIAL STATEMENTS (Continued) FOR THE YEAR E%4DED31 ALGLST 2023 16. CRF.DITORS: Amount% falling due nithin on¢ Itar 2023 21122 Trade creditors Taxation and Social Securitv Accrued granls Accrued expenses 16.818 l i.9)6 i41.000 49.91? 14.714 4? 1100 5i.012 632.091 l j9.638 17. CREDITORS: Amounts falling duc Ydfter more than oue ! ear 2023 2022 Amouni due to the G¢neralale ol- Ihe Sisters or Charity of Jesus and Man. 263.686 263.686 Accrued gyranls - due alier more ihkm one l'ear J20.000 £i8.?.686 £26J.686 The amount due io ihe Gencralaie of ihc Sisters of Charih" ol- Jesus is non-interest bearingy and is not expeLted to be paid '1th1n one l'ear. 18. DESIGIYATED FLYDS a) The Trusiees have designated t-unds out ot- th¢ unrestricted lunds t.or specitic purposes as folloi¥'s-.- Retirement Fund A fund has been designated in respecl ot"Ihe Charits- s conimiimenl to proi'ide for the retiremenl and care in old age and sickness ol- Ihe Conoregation s menibers. Congregjation s membership indicaied thal a tund ol some £21 m is required lo tinanLe l-ull!. the ChariTh' s commitmeni to proi'ide care for lis meniber5. aliLr iaking accounl of IhLir occupali17nal pcn5ion rights. The lund 'aS rnis¢d io this lei'el b!. the end ol-Auoust )016. Since ihen. a numb¢r ol- mernbers hai.'e died H'hich reduces demands upon the fund. Hoii'ei.'er. care costs hai'e been subjeci 10 an aboi'e-ai'eraL)e rate of intlalion. Pendingj a lurther delailed rei'ieii.. Ihe Trustees haK'e decid¢d io designat¢ ihe enlir¢ i'alue ol. the Charil!. s iniesiiiiciit poritolios io ihe Retiremenl Fund. As such ihe Fund ii'ill tluciuale as ini'esiment i'alues rise and tall.
SISTER.% OF CHARITY OF JESLS AND MklRI' ANGLO-IRISH PROI'INCE NOTES TO THE FIN.4NCIAL STATEMFNTS (Continuod) FOR THE YEAR ENDED 31 ALIGUST ?V23 In ihc l'ear. eipendiiure on ini'eslmenl manac?cniini fees iind in support of ¢ld¢rlN' sisl¢rs in England and Ireland amounted 10 £706k i ?02?: £i7ik l. "hi151 ini eslmenl inci)me ani()unied 10 £48Jk (?0??: £437k). an excess of eipendilure oi er income of some £?)Jk {20??: £1 J6k). In¥'L'Stmeni losses ii-ere £176k i?O)?: luss¢s of £ 1.1 ?8k') &Jji'inbJ rise to a decrease in the fund of £399k 120?2.. decrease ol. £1 ?64k). To bring the Fund into line ii'ith the inN"estnienl porttc)Iios £131 k il'as released t.rom ihe designation (20??: £7J9). The lei el ol-lhe fund. ini'eslinent i'alues and the likelv needs of ihe membership .11] conlinue to be moniiored. Fi.%ed Assets Fulld In order to t"ulfil ils charitabl¢ (Ibj¢¢lii'¢s. the Con?reoalion needs a lar<J nuniber of properties. These properties, although the!. are unrestricied assets cannoi be realised li ithout underminin&, the CongyregFation s 'orK and the Trusiees Iherefore feel thai it is appropriate to reflect the in'eStMent in tixed assets b}, means of a designated tund. Transters retlecting Ihe nei moiwement in fixed asset5. Ivere made in ihe N'ear. 18. DESIGI%ATED FL,NDS {contiDued) b) Anall'sis of Moi'ements - current 'ear Balance I Sept¢mbcr 2022 et income ¢ipendilure Balance 31 Au2USt 2U23 Transfers gainsl(10sscs) Retiremeni Fund Filed Asseis Fund 20.474.640 J.171.8J) (398.855) (100.178) 131.136 20.206.9?1 (47.4461 J.O?4.?11 2).646.47i (499.0331 83.690 b) Anal)'sis of 1%l0I'ements l'ear prior Reiirement Fund Fixed As5els Fund 21.000.000 3.4)? 109 (1 ?64.Oli) 7J8.6ii 20.474.640 (96.568) (18J.7061 i,171.835 ?4.4)? 109 (1.)60.i8)1 5)4.949 ?3.646.475 40
SISTERS OF CHARITY OF JESUS AND MARY ANGLO-IRISH PROVINCE NOTES TO THF. FINANCIAL SI"ATE.MENTS Icvntillued) FOR THE YEAR ENDF.D31 ALGLIST 20•3 19. ANALYSIS OF NET ASSETS BY FLNDS AnAlI'sis of net #%sets beNeen funds- current l'ear Gener#1 Fund Desi ated Funds Tot#1 Filed assets Retirement Tangible fix¢d asseis Ini"esimenls Current assets Curr¢nt liabilities Crediiors due atler one l'ear J.024.211 J.024.?11 20.06.921 20.206.921 ?.4jl.Jjj 16.)? 091) {iSJ.686 {63?.0911 {i8J.Ci861 1.2jj.i78 3.04.?11 20.?06.921 24.406.710 AnalN'5is of net #55ets bctsi'een funds - prior l.ear Cyeneral Fund Desi nated Funds Total assets RetiremeDI Tangible fixed asseis Inweslm¢nts Current assets Current liabiliiies Crediiors due atier one l'ear 3.171.8)) 3,171.835 20.474.640 20.474.640 i.i8.).691 1159.6381 {26i.686) 3.i8i.691 (li9.6J81 {26i.6861 ? 960.i67 3.171.8J j ?0.474.640 26.606.842 20. RELATED PARTY TRAYS.4CTIO.)S There 'ere no relaied part! Iransaclions in the l'ear {2022- None) other than ihe proi'ision of iemporal neL.ds of the Trusiees ii'ho are also beneficiaries ol-the charii!. as disclosLd in note I l.