## **TRUSTEES FOR THE SISTERS OF CHARITY OF JESUS AND MARY**
**(Registered Charity Number: 251262)**
## **TRUSTEES’ REPORT AND FINANCIAL STATEMENTS**
**31 AUGUST 2025**
HaysMac LLP Chartered Accountants London
**SISTERS OF CHARITY OF JESUS AND MARY**
## **TRUSTEES' ANNUAL REPORT**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
The Trustees present their annual report together with the financial statements, for the year ended 31 August 2025.
## **HISTORY AND ORGANISATION**
The Sisters of Charity of Jesus and Mary is an international religious Congregation of pontifical right, founded in Belgium in 1803 in the rural district of Lovendegem. In 1803, our founder Peter Joseph Triest was appointed parish priest in Lovendegem. The poverty, the moral depravity, the crying need for education and care of the sick spurred him into action. In July 1804, the first Sisters of Charity of Jesus and Mary pronounced their first vows and decided to devote their lives to "the caring of the poor and destitute". The Sisters gave lessons, looked after orphans, and went into the homes of the sick and old to care for them.
Over the next two centuries ministries were established in other countries. The Anglo-Irish Congregation (“Congregation”) was first established on 14 October 1968.
Today the Sisters of Charity of Jesus and Mary has around 1,300 Sisters, who live and work in Belgium, The Netherlands, England, Ireland, India, Pakistan, Sri Lanka, Philippines, The Democratic Republic of Congo, Mali, Burundi, Rwanda, and Vietnam.
## **OBJECTIVES AND ACTIVITIES**
In England the aims and objects of the Congregation are undertaken through a legal framework of the Sisters of Charity of Jesus and Mary (“the Charity”). They are for such charitable purposes which advance the religious and other charitable work as set out in its Trust Deed dated 18 January 1967 by which it is governed.
The Trustees have had regard to the Charity Commission’s guidance on public benefit. The majority of the expenditure of the Charity funds the living and care costs of our Sisters in England and Ireland. Stella Matutina Care Home provides care for elderly women and men. The home is not operated for profit.
The Charity makes grants to support the charitable activities of the Congregation’s Sisters worldwide. It also makes donations to third party disaster appeals worldwide.
From the beginning until today, the life of every Sister has been, and remains, a reality, of grace which finds expression in:
- An apostolic service which stems from our union with God and itself nourishes this same union;
- • Prayer, which is a waiting on the Lord, who himself opens us to his presence and enables us to collaborate in his work;
- Community life, which intensifies our apostolic dynamism and is an effective sign of our communion with Him; and
- At one with the universe and each other, we value the whole of creation and journey with all God’s people in faith, respecting differences, welcoming diversity, and upholding their inherent dignity.
The activities and ministries of the Charity fall into five areas:
## **Care of members of the Congregation in England and Ireland**
The members of the Congregation have devoted the whole of their working lives to the care of the young, elderly, poor and marginalised in society and all their income and assets have been gifted to the Charity. The Charity cares for their members in retirement. The care includes supporting Sisters who can live independently and supporting Sisters living in communities in England and Ireland.
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**SISTERS OF CHARITY OF JESUS AND MARY**
## **TRUSTEES' ANNUAL REPORT (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
Some Sisters already retired give support to our elderly Sisters, who are living in the Rosglas and Stella Matutina communities. Their support involves spending time with them and supporting them both emotionally and spiritually.
The Trustees ensure that every Sister, whether living alone, or in a community, receives financial, spiritual and emotional support, for both their ministries and their own care. When appropriate, Sisters are transferred between communities to ensure the environment and support available to them adequately meets their needs.
## **Social and pastoral work**
Members of the Congregation are involved in various forms of social or pastoral work throughout England and Ireland, including care of the elderly and people with special needs, family support, and chaplaincy work in hospitals. All this work is undertaken on a voluntary basis. The Trustees ensure volunteers have the necessary skills, experience, and training to undertake their roles in the community and training is provided (internal and external) as required.
## **Stella Matutina Care Home**
The Sisters continue to provide care and assistance to the elderly at Stella Matutina Care Home in Ansdell. The occupancy of this care home is a mix members of the Congregation, private and local authority clients. It is not operated for profit. Cases of financial hardship are considered by the Trustees and fees are reduced if necessary. All applicants are assessed on their needs and not their ability to pay.
The strategy for the home is to provide the best possible care for residents’ emotional and physical needs so that they can enjoy their life to the fullest possible extent.
## **Overseas missionary work**
The Charity also helps financially support Sisters working in education, ecology, healthcare, social and pastoral care worldwide. We have funded the building of new classrooms for the Order’s primary school in Rwanda and currently we are supporting financial the building of a new care home for the elderly in Rwanda.
## **Working with other organisations**
The Charity works closely with a number of other charities and public bodies that work in the field of providing care to the vulnerable and the elderly. Working together with other charities and public bodies enhances communication and understanding thus enabling services to the elderly to be provided more efficiently and effectively and avoiding duplication of effort. Examples of the organisations for which members have worked and with which the Charity has cooperated during the year are as follows:
- Roman Catholic Diocese of Westminster
- RLSS (Religious Life Safeguarding Service)
- COR (Conference of Religious of England and Wales)
- AMRI (Association of Missionaries and Religious of Ireland)
- Lancashire County Council and Blackpool Council
- CSSA (Catholic Safeguarding Services Agency)
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**SISTERS OF CHARITY OF JESUS AND MARY**
## **TRUSTEES' ANNUAL REPORT (continued)**
**FOR THE YEAR ENDED 31 AUGUST 2025**
## **ACHIEVEMENTS AND PERFORMANCE**
## **Care of members of the Congregation in England and Ireland**
In common with many religious congregations in England and Ireland, the age profile of the members of the Congregation is increasing as existing members grow older and the number of new vocations becomes minimal. The age profile of the Congregation is shown graphically below:
Age 90 - 99 Age 80 - 89 Age 70 -79 Age 60- 69
The Congregation has an obligation, both moral and legal, to provide care for its members, none of whom have resources of their own and all of whom have devoted a significant part of their lives to the care of the elderly, poor and marginalised in society. As the age profile of the Congregation increases so too does the need to provide increasing, and increasingly expensive, care to the Sisters.
At present three members of the Congregation are receiving care at Stella Matutina and others are receiving support within their communities in England and Ireland. In the future, the Trustees expect the number requiring care to increase. Therefore, the Trustees consider the impact of this on the work of individual members of the Congregation the property requirements and the financial implications. In this regard, the Congregation’s purpose-built convent Rosglas provides care for our elderly and incapacitated Sisters.
## **Social and pastoral work**
The aims of the Trustees in this area include:
- Enabling all members of the Congregation to carry out meaningful social and pastoral work within the community.
- Pastoral care of residents in Stella Matutina Care Home. Services are held in the Chapel, and these are also open to non-residents;
- Chaplaincy work in hospitals.
Along with all other organisations who serve in the community, the Trustees recognise the absolute necessity of ensuring the protection and safety of all those the Charity serves. In February 2022 we signed up to the RLSS and their Safeguarding Model Policies.
Currently all Sisters, staff and volunteers are required to comply with our Safeguarding Children and Vulnerable Adult Policy and Guidelines document which was last reviewed in September 2021. In addition, our staff working at Stella Matutina Care Home are required to follow safeguarding policies provided by a specialist third party policy and procedures provider for care homes.
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**SISTERS OF CHARITY OF JESUS AND MARY**
## **TRUSTEES' ANNUAL REPORT (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
The following is an account of the work of Sister Marian Davey:
I continue to see my ministry as a means of serving in small ways according to the needs of the individuals who cross my path.
My support for a few of my neighbours here at Oxford Court continues mainly by me visiting them on a regular basis for a short period for a chat or bringing a newspaper etc.
I continue working for visually impaired people through the Charity Group N-Vision for people with multiple vision problems of all ages. I know have three clients whom I support with visits to their homes for a chat. This helps to reduce their feelings of isolation as they are all housebound. I also arrange their appointments for home assessments for ongoing visual deterioration. This enables them to have up to date eye examinations and access to a range of gadgets which may help them to maintain everyday independence.
I also offer support by making coffee and helping with Bingo at the Coffee Groups run by the same organisation when they're providing training sessions for daily living with visual impairment.
Through the Lancashire Volunteer Project, I'm supporting a client with short term memory loss following a brain tumour. This involves lots of small tasks for me helping her to load her weekly appointments on to her phone calendar and Alexa machine so that she receives regular promptings and reminders throughout the day. A weekly "walk and talk" session around the local lake so that she can offload emotionally as she has low level depression. Helping her to explore local Friendship /Support Groups etc for her ongoing support.
I continue with my ongoing telephone support for a few seafarers. Weekly telephone support for a maritime volunteer who visits ships regularly. His Volunteer Support system is non-existent, so he talks to me about any issues that come up during his visits.
I still visit the few Sisters who live at Stella Matutina Care Home at least twice weekly along with spending a regular time with Sr Camillus just for some social conversation. Also do little bits of shopping for them regularly and hospital visits for any Sister who is in hospital. Also take any of the other Sisters who are mobile enough with me for a visit.
I continue to connect where possible with some specific events in the Region regarding climate change issues. Some events are planned for later this year.
## **Stella Matutina Care Home**
The Charity owns and operates a residential care home, Stella Matutina Care Home. The philosophy of care is to ensure a homely, friendly, and open atmosphere amongst residents and staff whilst maintaining the privacy, dignity, rights, and quality of life of all residents.
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**SISTERS OF CHARITY OF JESUS AND MARY**
## **TRUSTEES' ANNUAL REPORT (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
There are 43 rooms at Stella Matutina, all with ensuite facilities and a number with separate sitting areas and each room has a television and telephone linked to the call system. All areas of the home are accessible by either stairs or a lift, and residents are encouraged to take meals in the dining room. Other facilities include a chapel, hairdressing salon, conservatory, several lounges, and passenger lift to all floors. Spacious bathrooms on each floor are fitted with assisted bath chairs. The home is set in its own extensive grounds overlooking the Ribble Estuary.
In operating Stella Matutina Care Home, the Trustees aim to:
- Provide excellent residential care to elderly men and women, ensuring that their needs are fully met and that they enjoy as high a quality of life as possible.
- Employ high quality staff to care for the elderly residents ensuring that all such staff obtain the necessary qualifications and training needed for their work.
- Ensure that Stella Matutina Care Home meets the requirements of the Care Quality Commission and that any recommendations arising from inspections are acted upon quickly and effectively.
- Maintain the financial security through careful budgeting and by setting fees for Stella Matutina Care Home at levels that ensure its viability is not threatened.
The accommodation is over three floors, and the Trustees are finding it increasingly difficult to keep rooms on the second and first floor occupied. This reflects a trend to individuals staying at home for longer, so when they do enter the care home their needs are greater. The Trustees have and continue to explore ways of making better use of the facilities at the home and improve occupancy.
## **Overseas missionary work**
The Charity supports the work of the Congregation worldwide and in recent years its financial support has been focused on two projects in Rwanda:
## **Complexe Scolaire Mere Placide School, Rwanda**
Rwanda is a small country in Central Africa. It has an area of 26,338 km with a population of 11 million. The main source of income for the people is essentially agriculture. Rwanda was heavily affected by the socio - political crisis of the genocide, that caused several hundred thousand deaths in three months in 1994. The consequences of this genocide are incalculable and continue to have very visible impact in the country to this day. Whole families were wiped out, and many widows, orphans, and elderly people remained, who were desolate, with little or no means to survive. Another inevitable consequence of this crisis is the many uneducated children and youth and school dropouts.
Our Congregation’s members are working as missionaries in Kibeho, which is located in the Southern Province of Rwanda, are very aware of the tremendous need for education. In 2018 the Trustees agreed to pledge £235k to part fund the building of 10 new classrooms for the Congregation’s primary school the Complexe Scolaire Mere Placide School.
The photographs that follow speak for themselves, as the smiling faces of happy children, exude the joy of youngsters enjoying their new school, which includes food for the body as well as the mind. As members of the Congregation’s family here in England, we were delighted to help financially towards the construction of 10 classrooms for this new school.
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SISTERS OF CHARITY OF JESUS AND MARY
TRUSTEES, ANNUAL REPORT (continued)
FOR THE YEAR ENDED 31 AUGUST 2025
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**SISTERS OF CHARITY OF JESUS AND MARY**
## **TRUSTEES' ANNUAL REPORT (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **Care home in Kibeho, Rwanda**
The Trustees have pledged £600k to fund the building of a new care home. As with the new classrooms, this project was managed by our Generalate in Brussels, who provided regular reports on progress at our Trustees meetings. The following photographs of the completed building were taken in 2025:
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**SISTERS OF CHARITY OF JESUS AND MARY**
## **TRUSTEES' ANNUAL REPORT (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **Terhagen Monastery Complex in Belgium**
Terhagen is the mother house of our Congregation, which is one of the most important in Belgium. In 2010 the site was recognised by the Flemish Government as a protected monument. Work on renovating the buildings on the site commenced in 2023 and is scheduled to be completed in 2026. The project is being managed by our Generalate with the support of architects, surveyors, engineers, and other specialist contractors. The total budget for the project is more than €10m.
The Heritage Site is a part of the Terhagen Monastery Complex. It preserves and tells the history of the Congregation and its achievements in education, health care and welfare. It tells the story of women religious in Belgium in general, of their life behind the convent walls and the pioneering role these often-anonymous women played in society. The archives department is a public-oriented and the goal of the renovation work is to provide a well-equipped storage place that will preserve the collection of the Congregation under optimal conditions and make the collection available to the public for consultations, events, exhibitions and social projects that make use of the collection and buildings.
In April 2023, the Trustees agreed to pledge a total of €1,135k towards the cost of the project over three financial years in equal instalments. The final tranche was paid in the year under review.
## **RISK MANAGEMENT**
The Trustees have considered the major risks to which the Charity is exposed. Every effort is being made to mitigate those risks. The key risks for the Charity, as identified by the Trustees, are described below together with the principal ways in which they are mitigated:
## **Governance and Management**
The Congregation has an obligation, both moral and legal, to provide care for its members, none of whom has resources of her own and all of whom have devoted a significant part of their lives to the activities of the Charity. The Sisters are all under a vow of poverty and therefore providing them with support is considered to be an important element of the Charity’s work. Wherever possible, care is provided for frail and unwell members within communities. The incidence of such care needs is impossible to predict, and the Trustees therefore believe that it is incumbent upon them to maintain reserves at an appropriate level to ensure that the charity can meet this obligation – see Reserves Policy below.
Along with all other organisations who serve in the community, the Trustees recognise the absolute necessity of ensuring the protection and safety of all those the Charity serves. We joined the Religious Life Safeguarding Service in February 2022.
The Trustees are mindful that at some time in the medium to longer term, there may be issues in relation to succession planning for the governance of the Charity. With an ageing group of Sisters, it may be necessary to consider appointing lay trustees (that is trustees who are not members of the Congregation) and/or Sisters from overseas areas where there is a greater pool of younger members. Such steps may require constitutional changes for the Charity. The Trustees continue to keep under review the issues and the options open to them.
## **Property and Operational**
It is necessary to ensure that our properties continue to be safe places for the residents, Sisters and visitors to use. Attention is given to keeping our properties in good repair. General maintenance is regularly carried out. There is an on-going programme to ensure compliance with the increasing demands of Health and Safety Regulations particularly regarding Fire Regulations.
Property and operational risks are reviewed annually with an insurance broker to ensure all risks are identified and insured against where possible. All property is maintained to a high standard and Stella Matutina Care Home has comprehensive processes in place to ensure appropriate health and safety standards are maintained.
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## **SISTERS OF CHARITY OF JESUS AND MARY**
## **TRUSTEES' ANNUAL REPORT (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
The Care Quality Commission is responsible for reviewing standards achieved at Stella Matutina Care Home. Any serious incidents are reported to the Care Quality Commission, Safeguarding and the Charity Commission as appropriate. The Care Quality Commission undertook an inspection in March 2026 and we received a “Good” classification across all the categories.
## **Investments and Financial**
The Charity is reliant on investment income to carry out its activities and uses two investment managers with different assets class benchmarks to mitigate to some extent the risks associated with market volatility. Both portfolios are managed to provide income and capital growth taking moderate risk. The Trustees receive investment reports on a quarterly basis and normally meet with their managers on a quarterly or half yearly basis. Their performance and that of the portfolios are monitored carefully.
The Trustees take a conservative approach to managing cash and five-year cash flow forecasts are examined and reviewed at least annually to ensure adequate cash is available for both known needs and to some degree unknown contingencies.
The Trustees seek to make the best possible use of the Charity’s financial resources.
## **Reputational and Safeguarding**
The Trustees adhere to the highest standards of integrity and expect all members of the Congregation and employees to do the same. A register of interests for the Trustees is maintained and kept updated. A conflict-of-interest policy is in place for both Trustees and employees.
The Congregation has a comprehensive Child and Vulnerable Adult Safeguarding Policy which was last reviewed in September 2021. We are members of The Religious Life Safeguarding Service.
## **FINANCIAL REVIEW**
## **Investment policy**
The Charity’s investments are managed by Julius Baer and HSBC Private Banking. There are no restrictions on the Charity’s power to invest.
We mandate our investment managers is to exclude investment in companies which undertake activities contrary our faith and ethical values. In addition, our investment managers have been asked to continually assess the Environmental, Social and Governance standards of the companies we invest in and avoid, as far as reasonably possible, investing in companies that do not share our ESG values.
The performance of the portfolio and the Charity’s investment strategy are reviewed by the Trustees who normally meet with Julius Baer International quarterly and HSBC Private Bank every six months.
## **Investment performance**
Investment performance for the year to 31 August 2025 was down compared to the prior year. Investment income was £554.7k compared to £603.4k in 2024. Investment gains (net of investment management fees) were £688k compared to £1,635k in 2024. The overall return on portfolios for the year was +5.12% compared to +10.43% in 2024. In the period since 31 August 2025, markets have generally made further progress.
The investment managers continued to invest in accordance with the Trustees’ investment policy set out earlier in the report and comply with the ethical guidelines given to them. The Trustees are satisfied with the performance of the investments and remain happy that their investment objectives are being met.
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**SISTERS OF CHARITY OF JESUS AND MARY**
## **TRUSTEES' ANNUAL REPORT (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **Results for the year**
A summary of the year’s results can be found in the Statement of Financial Activities.
During the year total income was £2,800k compared to £2,231k in the prior year. Of the income, a total of £1,372k related to the fee’s received at the Charity’s care home – an increase on the prior year figure of £1,261k. A total of £253k was received by way of donations and legacies, down on the prior year figure of £296k. Investment income and interest receivable totalled £579k, compared to £661.7k in the prior year. The sale of a property during the year resulted in exceptional income of £594k.
Expenditure totalled £3,526k compared to £3,186k in the prior year. Expenditure on the Charity’s care home amounted to £1,795k (prior year £1,643k) and that incurred on maintaining the members of the Congregation and supporting them in their pastoral work and ministry amounted to £440k compared to £405k in the prior year. Grants paid in the form of overseas transfers, plus an allocation of Governance and Support costs, totalled £1,161k in the year compared to £1,010k in the prior year. There was a £28k grant to our Generalate in Belgium towards their annual operating budget. The remainder were made to support our Sisters and their ministries.
Fees paid to the Charity’s investment managers during the year were £129k (2024: £128k).
Net expenditure, before gains/losses on investments for the year, was a deficit of £726k, which was down on the prior year deficit of £955k.
## **Fundraising**
The Charity has not made any fundraising appeals to the public during the year and is unlikely to do so in the future. There has been no outsourced fundraising via professional fundraisers or other third parties. Consequently, the Charity is not registered with the fundraising regulator and received no fundraising complaints in the year.
## **RESERVES POLICY AND FINANCIAL POSITION**
## **Going concern**
After making the appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **Reserves Policy**
In setting the reserves policy the Trustees take into consideration that the occupation of the Charity’s care home is stable, and it is adequately insured against business interruption due to fire and other insurable closure risks.
They also consider that the Retirement Fund of £21.4m is calculated using prudent assumptions on life expectancy, inflation and investment return rates, such that it will adequately fund the costs of caring for our Sisters for the remainder of their lives. Given the above the General Reserves at the year-end of £1,007k (all of which was cash in hand and short-term deposits) is adequate.
## **Financial position**
The Balance sheet shows total reserves of £25,109k of this, £2,673k is represented by properties and other tangible fixed assets essential for the support and work of the Sisters. All tangible fixed assets used for the support and ministry of members of the Congregation form a designated fund equal to the net book value of the tangible fixed assets. In addition, the Trustees have set aside £21,429k to meet the cost of the care and welfare of Sisters in their retirement. The Trustee’s plan is to draw on the designated fund so it can continue to meet the care needs of the Sisters.
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**SISTERS OF CHARITY OF JESUS AND MARY**
## **TRUSTEES' ANNUAL REPORT (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **FUTURE PLANS**
The Trustees do not anticipate any significant change to the Charity or its activities over the next two to five years. It is their intention to continue to meet the following objectives:
- To continue to care for the Sisters, whether they live independently, in communities or require full time care.
- To continue to support those Sisters who can carry out pastoral work and ministry. Focus will continue to be given to assisting and caring for the elderly, the poor and the marginalised and reaching out to as many as possible.
- To continue to operate Stella Matutina Care Home and in particular:
- ➢ To provide the highest possible quality of care for the residents in a dignified and friendly environment;
- ➢ To attain high success rates in inspections carried out by the Care Quality Commission;
- ➢ To continue the rolling programme of refurbishment; and
- ➢ To continue to employ high quality staff and ensure that they are given appropriate and relevant training.
- To support the Congregation’s work overseas and for the Trustees to satisfy themselves that the funds are applied for their intended purpose.
- To monitor the needs of the Sisters as they grow older and, if necessary, adapt the Charity’s plans in respect of property needs and the provision of care to elderly members.
## **GOVERNANCE AND MANAGEMENT**
## **GOVERNANCE**
In terms of Canon law, the Congregation is governed at an international level by the Superior General and her General Council in Brussels. They are elected every six years at a General Chapter or meeting of representatives of all provinces of the Congregation. The Region is governed by a Leadership Team appointed by the Generate. In terms of civil law, the Charity is governed by a Trustee Board which is responsible for appointing new Trustees.
The Trustees are members of the Congregation who have a detailed knowledge of the work of the Charity and its structure. The Trustees meet with the Congregation’s legal, accounting, investment, and property advisers as appropriate.
The Trustees are ultimately responsible for the policies, activities, and assets of the Charity. They meet quarterly to review developments with regard to the Charity and its activities and to make any important decisions. When necessary, the Trustees seek advice and also support from the Charity’s professional advisers including surveyors, investments managers, solicitors, and accountants. The day-to-day management of the Charity’s activities, and the implementation of policies, is delegated to the appropriate members of the Congregation or other appointed staff.
The Trustees attend formal training courses as considered necessary to fulfil their duties and are also briefed on specific matters by their professional advisors.
There follows brief biographical information on each of the current Trustees.
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## **TRUSTEES' ANNUAL REPORT (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **Sister Elizabeth Roche**
Sister Elizabeth taught Science and Religious Education at St. Angela’s Comprehensive School for ten years. Having studied for a master’s degree at Southampton University she returned to the school and served on the Senior Management Team, where as Deputy Head Teacher she had overall responsibility for the Pastoral Curriculum. During this time and until June 1992 as a qualified Counsellor she also worked for a voluntary organisation. In the mid-eighties she was involved in facilitating the amalgamation of two schools (St. Angela’s – girls and St. Michael’s – boys) which became The John Henry Newman School. In 1992 she went as a missionary to Peru, South America, and worked in Primary Health Care and Catechetics.
In 1999 she was appointed to Brussels where she served on the General Leadership Team of the Congregation for six years until August 2005. She was appointed as a member of the Provincial Leadership Team in 2006 and in July 2010 was appointed Provincial.
## **Sister Mary Ellen O’Brien**
Sister Mary Ellen joined the Congregation in 1963. She trained as a State Registered Nurse at the Whittington Hospital in Highgate. She was Manager of our Care Home in Roxley Court, Willian, Herts. for 12 years. She was Administrator of the Congregation’s Hostel and Nursing Home in Melbourne, Australia, with 120 residents, having responsibility and overall administration and operation of the home with over 100 staff for 8 years. She spent 6 years in Peru, South America, working in Primary Health Care. She was Matron of the Congregation’s Nursing Home in Ireland for 2 years and thereafter was Provincial until 2 July 2010.
## **Sister Rosily Mathew**
Sister Rosily Mathew, an Indian by nationality and from the southern state of Kerala, was born as the eldest child of seven children.
She joined the Congregation of Sisters of Charity of Jesus and Mary in the year 1979. Having completed the Religious formation, she pursued a few years of study to equip herself to work in the field of accounts and financial management. With the experience of being an accountant in several institutions of the Province, she was appointed Provincial Bursar in 2001. Currently she is in the Generalate as the General Bursar of the Congregation.
## **Sister Patricia Josephine Callaghan**
Sister Patricia Josephine Callaghan joined the Congregation in 1960 as a qualified teacher and spent twenty years as Head Teacher of a Diocesan Primary J.M.I. School. She was subsequently appointed Provincial Bursar in 1990 and retired from this post on 30[th] June 2007, being replaced by a lay Bursar.
## **Sister Philomena Enright**
Sister Philomena Enright joined the Congregation in 1960. She trained as a Teacher in Roehampton Institute of Education and then taught in Holly Mount Lancashire, Letchworth, and Devon where she was Headmistress. Following twenty-one years of teaching Sister Philomena opted for a change of Ministry and trained as a Nurse in Sussex Downs School of Nursing, where she enjoyed eighteen years of Nursing in an acute District General Hospital until her retirement in 2008. On retirement Sister Philomena moved to Ireland where she is currently contact person. She is actively involved in the local Community where she is a member of the Parish Committee and co-ordinator of The Children’s Liturgy.
## **Sister Kathleen O’Connor**
Sister Kathleen O’Connor was born in Co. Laois Ireland. She joined the Sisters of Charity of Jesus and Mary in 1964. Having completed religious studies, she pursued a career in nursing in London. In the mid-seventies she returned to Moore Abbey Ireland and did further studies in the field of Special and additional needs of people with intellectual challenges. She later obtained a diploma in clinical nurse teaching. In the 1980’s she was subsequently appointed as Director of a large residential and community-based Services and also Chairperson of the Board of Management of St Mary’s Special
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**SISTERS OF CHARITY OF JESUS AND MARY**
## **TRUSTEES' ANNUAL REPORT (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
School, Delvin for some years. Currently she is a member of the Board of Management. She was a member of the Provincial Leadership Team and Superior of the local SCJM community.
She was appointed as Pastoral Support Coordinator for the SCJM/MuirIosa Services in 2006 and presently Community Coordinator for the SCJM Sisters in Ireland.
## **Sister Ann Devine**
Sister Ann was born and raised in county Westmeath in Ireland the eldest of a family of six. She joined the Sisters of Charity of Jesus and Mary in the mid 60's and following two and a half years of Religious formation followed a career in nurse education in London. In the early 70's she was appointed as coordinator of a residential unit for children with mild learning disabilities and worked as a member of a multidisciplinary team. Having completed further nursing studies, she set up and managed a preschool / care unit for children with moderate learning disabilities and multiple special needs. Sister Ann worked there for four years. She was appointed by the Sister Provincial to join a parish team in inner city Dublin to support and work with socially disadvantaged young people and the homeless. Later she was invited by the Midland Health Board and the Sisters of Charity of Jesus and Mary and the local Parents and Friends Association to set up a service for adults with intellectual disabilities to further their education and create opportunities to enable them to live happy and fulfilled lives. Sister Ann is currently a member of the Pastoral Support Team for the Muiriosa Services in Ireland.
## **Sister Eileen O’Connor**
Sister Eileen taught Geography, Sociology and was Head of Religious Studes and Careers over a period of ten years at St Francis College, before moving to Birmingham to do a master’s in theology. Here she worked in a voluntary capacity in Charitable Centers, with Refugees (for three years) and Vulnerable Women (for fifteen years). Presently she is Hospital Chaplain at two city hospitals for three days a week, work she finds rewarding.
## **KEY MANAGEMENT PERSONNEL**
The following lay staff support the Trustees:
## **Mr. Alan King**
Alan is a retired banker with over 30 years’ experience with HSBC Bank. In 1976 he obtained The Institute of Bankers Banking Diploma and was elected an Associate of the Institute. He has held several senior management positions in both corporate and retail banking, including managing a business unit with a budget of £10m and 140 staff.
His previous voluntary work includes advising local government on economic issues and he has been a governor of two secondary schools. Alan has a keen interest in the environment and in 2012 was awarded a BSc (Hons) in Environmental Studies by the Open University. He reports to Sister Elizabeth Roche, his line Manager, and is accountable to the Trustees.
## **Mrs. Dawn Ward**
The day-to-day responsibility for Stella Matutina Care Home in Ansdell, Lancashire is in the hands of the Registered Care Manager Mrs. Dawn Ward. Dawn was appointed the Registered Care Manager in February 2018. Dawn has over 30 years’ experience caring for the elderly. Prior to joining us Dawn was the Registered Manager of another care home in Ansdell.
## **Management Pay**
The Trustees review pay annually to take into consideration CPI and wage inflation. Performance reviews for key management are conducted by their line manager but there is no performance related pay. From time-to-time pay is benchmarked against sector pay scales.
13
**SISTERS OF CHARITY OF JESUS AND MARY**
## **TRUSTEES' ANNUAL REPORT (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the Charity and of its income and application of resources, for that period. In preparing the financial statements the Trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP (FRS 102);
- Make judgements and accounting estimates that are reasonable and prudent;
- State whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that this basis applies.
The Trustees are responsible for ensuring proper accounting records are kept which disclose, with reasonable accuracy at any time, the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of error, fraud, and other irregularities.
Approved by the Board of Trustees on 12 May 2026 and signed on its behalf by:
**Sister Elizabeth Roche** (Trustee) (Trustee)
**Sister Mary Ellen O’Brien**
14
**SISTERS OF CHARITY OF JESUS AND MARY**
## **REFERENCE AND ADMINISTRATION DETAILS**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
|**Full Name:**|Sisters of Charity of Jesus and Mary|
|---|---|
|**Address:**|108 Spring Road|
||Letchworth Garden City|
||Hertfordshire SG6 3SL|
|**Charity Number:**|251262|
|**Governing Instrument:**|Trust Deed dated 18 January 1967|
|**Object:**|For such charitable purposes which advance the religious|
||and other charitable purposes for the time being carried on|
||by or under the direction of the Congregation.|
|**Congregation Leader:**|Sister Elizabeth Roche|
|**Trustees:**|Sister Mary Ellen O’Brien|
||Sister Philomena Enright|
||Sister Patricia Josephine Callaghan|
||Sister Ann Devine|
||Sister Eileen O’Connor|
||Sister Kathleen O’Connor|
||Sister Rosily Mathunny|
||Sister Elizabeth Roche|
|**Bursar:**|Mr. Alan King|
|**Solicitors:**|Pothecary Witham Weld|
||84 Eccleston Square|
||Pimlico|
||London SW1V 1PX|
||Stone King LLP|
||Boundary House|
||91-93 Charterhouse St|
||London EC1M 6HR|
|**Auditors:**|HaysMac LLP|
||10 Queen Street Place|
||London EC4R 1AG|
15
**SISTERS OF CHARITY OF JESUS AND MARY**
## **REFERENCE AND ADMINISTRATION DETAILS**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
**Investment Advisers:** Julius Bär International 1 St Martins Le Grand London EC1A 4AS HSBC Private Bank Cork Street Mayfair London W1S 3LJ **Named Charity** Mr _**.**_ D J Clark **Correspondent :** 1st Floor, Church House 61 College Road Bromley BR1 3QG **Named Trustee with Charity Commission:** Sister Elizabeth Roche **Powers of Investment:** Monies may be invested in investments authorised by law for the investment of trust funds; that is, the provisions of the Trustee Act 2000 applies.
16
## **Independent auditor’s report to the Trustees of Sisters of Charity of Jesus and Mary, Anglo-Irish Province**
## **Opinion**
We have audited the financial statements of Sisters of Charity of Jesus and Mary, Anglo-Irish Province (the ‘Charity’), for the year ended 31 August 2025, which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows, and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the charity’s affairs, as at 31 August 2025, and of the charity’s net movement in funds for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the Trustees’ Report other than the financial statements and our Auditor’s report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
17
**Independent auditor’s report to the Trustees of Sisters of Charity of Jesus and Mary, Anglo-Irish Province**
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Trustee’s report is inconsistent in any material respect with the financial statements; or
- sufficient and proper accounting records have not been kept; or
- the charity financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees for the financial statements**
As explained more fully in the Trustees’ responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the charity and the environment in which it operates, and through discussion with the Trustees and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations, related to safeguarding regulations, anti-bribery, care quality commission compliance, employment law and taxes and Charity law, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011 and the Charities SORP (FRS 102) and other relevant charity legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.
18
## **Independent auditor’s report to the Trustees of Sisters of Charity of Jesus and Mary, Anglo-Irish Province**
We evaluated Trustees and management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to: recognition of income; posting inappropriate journal entries to increase revenue or reduce expenditure; and management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the engagement team included:
- Reading minutes of meetings of those charged with governance.
- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud.
- Assessment of identified fraud risk factors.
- Performing analytical procedures to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud.
- Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business.
- - Review of significant and unusual transactions.
- Identifying and testing journal entries, in particular manual entries made at the year-end for financial statement preparation.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charity’s Trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's Trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s Trustees as a body for our audit work, for this report, or for the opinions we have formed.
**HaysMac LLP** Statutory Auditors Date: 19 May 2026
10 Queen Street Place London EC4R 1AG
HaysMac LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
19
## **SISTERS OF CHARITY OF JESUS AND MARY**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
|||**Total**|**Total**|
|---|---|---|---|
|||**2025**|**2024**|
||**Notes**|**£**|**£**|
|**INCOME from**||||
|Grants, donations, and legacies|1|253,465|296,109|
|Charitable activities - Care Home Residents’ fees||1,371,948|1,260,903|
|Other trading activities||||
|- Rents receivable from charitable-use properties temporarily||||
|surplus to operational requirements||1,455|12,300|
|Investments|2|579,243|661,719|
|Other income - Surplus on disposal of tangible fixed assets|3|593,859|-|
|||--------------------------|--------------------------|
|**Total Income**||2,799,970|2,231,031|
|||--------------------------|--------------------------|
|**EXPENDITURE on**||||
|Cost of raising funds - Investment Management fees||129,166|128,049|
|||-----------------------|-----------------------|
|**Charitable activities**||||
|- Care Home|4|1,794,551|1,642,740|
|- Support of members of the Congregation and their ministry|5|440,401|405,358|
|- Grants paid|6|1,161,481|1,009,946|
|||--------------------------|--------------------------|
|||3,396,433|3,058,044|
|||--------------------------|--------------------------|
|**Total expenditure**||3,525,599|3,186,093|
|||--------------------------|--------------------------|
|**Net expenditure before gains on investments**||(725,629)|(955,062)|
|**Other recognised gains/(losses)**||||
|Net gains on investments||688,347|1,634,829|
|||--------------------------|--------------------------|
|**Net movement in funds**||(37,282)|679,767|
|Fund balances brought forward at beginning of year||25,146,477|24,466,710|
|||--------------------------|--------------------------|
|**Total funds carried forward at end of year**||25,109,195|25,146,477|
|||=============|=============|
The Statement of Financial Activities includes all gains and losses recognised in the year.
There were no discontinued operations or acquired operations during the current or the preceding year.
The notes on pages 24 to 36 form part of these financial statements.
20
## **SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **BALANCE SHEET**
## **AS AT 31 AUGUST 2025**
|||**2025**||**2024**||
|---|---|---|---|---|---|
||**Notes**|**£**|**£**|**£**|**£**|
|**FIXED ASSETS**|13||2,673,158||2,924,032|
|**INVESTMENTS**|14||21,429,021||21,745,176|
||||-------------------||-------------------|
||||24,102,179||24,669,208|
|**CURRENT ASSETS**||||||
|Debtors|15|52,713||110,556||
|Short-term deposits||428,853||929,282||
|Cash at bank and in hand||920,145||448,026||
|||--------------------||--------------------||
|||1,401,711||1,487,864||
|**CREDITORS: Amounts falling due**||||||
|**within one year**|16|(131,009)||(746,909)||
|||---------------------||---------------------||
|**NET CURRENT ASSETS**|||1,270,702||740,955|
||||--------------------||--------------------|
|**TOTAL ASSETS LESS CURRENT**|||25,372,881||25,410,163|
|**LIABILITIES**||||||
|**CREDITORS: Amounts falling due**||||||
|**after more than one year**|17||(263,686)||(263,686)|
||||-------------------||-------------------|
|**NET ASSETS**|||25,109,195||25,146,477|
||||==========||==========|
|**FUNDS**||||||
|General|||1,007,016||477,269|
|Designated|18|||||
|- Retirement Fund||21,429,021||21,745,176||
|- Fixed Assets||2,673,158||2,924,032||
|||---------------------||---------------------||
||||24,102,179||24,669,208|
||||---------------------||---------------------|
|**TOTAL FUNDS**|19||25,109,195||25,146,477|
||||==========||==========|
The financial statements were approved and authorised for issue by the Trustees on 12 May 2026 and signed as authorised on their behalf by:
## **Sister Elizabeth Roche**
Trustee
The notes on pages 24 to 36 form part of these financial statements.
21
**SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **CASH FLOW STATEMENT (continued)**
|**FOR THE YEAR ENDED 31 AUGUST 2025**||||
|---|---|---|---|
|||**2025**|**2024**|
||**Notes**|
**£**|**£**|
|**Cash flows from Operating Activities**||||
|Net cash outflow from operating activities|**A**|**(2,350,720)**|**(1,758,828)**|
|||------------------|------------------|
|**Cash flows from investing activities**||||
|Dividends and interest from investments||579,243|661,719|
|Receipts from sale of fixed assets||776,360|-|
|Payments to acquire fixed assets||(37,695)|-|
|Payments to acquire investments||(6,943,410)|(6,216,348)|
|Receipts from sales of investments||7,947,912|6,312,922|
|||-----------------------|-----------------------|
|**Net cash provided by investing activities**||**2,322,410**|**758,293**|
|||-----------------------|-----------------------|
|**Change in cash and cash equivalents in year**|**C**|**(28,310)**|**(1,000,535)**|
|Cash and cash equivalents at 1 September 2024|**B**|1,377,308|2,377,843|
|||-----------------------|-----------------------|
|Cash and cash equivalents at 31 August 2025|**B**|**1,348,998**|**1,377,308**|
|||===========|===========|
|The notes on pages 24 to 36 form part of these financial statements.||||
|**Notes to the Cash Flow Statement**||||
|**A. Reconciliation of net movement in funds to net cash flow from operating**||**activities**||
|||**2025**|**2024**|
|||**£**|**£**|
|**Net movement in funds (as per the Statement of Financial Activities)**||(37,282)|679,767|
|**Adjustments for**||||
|Gains on investments||(688,347)|(1,634,829)|
|Dividends and interest from investments||(579,243)|(661,719)|
|Gains on disposal of fixed assets||(593,859)|-|
|Depreciation||106,068|100,179|
|Decrease/(Increase) in debtors||57,843|(37,044)|
|Decrease in creditors||(615,900)|(205,182)|
|||---------------------|---------------------|
|**Net cash used in operating activities**||**(2,350,720)**|**(1,758,828)**|
|||===========|===========|
|||**2025**|**2024**|
|||**£**|**£**|
|**B. Analysis of cash and cash equivalents**||||
|Cash at bank and in hand||920,145|448,026|
|Short-term deposits||428,853|929,282|
|||----------------------|----------------------|
|Total cash and cash equivalents||**1,348,998**|**1,377,308**|
|||===========|==========|
22
**SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **CASH FLOW STATEMENT (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
|**C. Analysis of changes in net cash funds**||||
|---|---|---|---|
||**At**||**At**|
||**1 September**|**Cashflows**|**31August**|
||**2024**||**2025**|
||**£**|**£**|**£**|
|Cash at bank and in hand|1,377,308|(28,310)|1,348,998|
||----------------------|----------------------|----------------------|
|**Total cash and cash equivalents**|**1,377,308**|**(28,310)**|**1,348,998**|
||==========|===========|===========|
23
**SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **General information**
The British Isles Province of the Congregation of Sisters of Charity of Jesus and Mary is an unincorporated charity in England and Wales, with the charity registration number 251262. The registered office is Provincial House, 108 Spring Road, Letchworth Garden City, Hertfordshire, SG6 3SL. The principal objectives of the charity are set out within the Trustees Report, on page 1.
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.
## **Statement of compliance**
The financial statements have been prepared in accordance with Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The accounts are presented in UK pound sterling and are rounded to the nearest pound.
## **Critical accounting estimates and areas of judgement**
The preparation of the financial statements may require the Trustees to make judgements and estimates that affect the amounts reported in the financial statements. The Trustees do not consider there to be any significant judgements or key sources of estimation uncertainty which would have a material impact on the amounts recognised in the financial statements.
Estimates are made in determining the useful economic lives of tangible fixed assets for depreciation purposes; however, these estimates are not considered to give rise to significant estimation uncertainty. Investments are stated at fair value based on quoted market prices provided by the investment managers. The Trustees do not consider these valuations to involve significant judgment or estimation uncertainty.
## **Assessment of going concern**
The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The Trustees have made this assessment in respect of a period of one year from the date of approval of these accounts.
The Trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. The most significant areas of judgement that affect items in the accounts are detailed above. With regard to the next accounting period, the year ending 31 August 2026, the most significant areas that affect the carrying value of the assets held by the charity are the level of investment return and the performance of the investment markets (see the investment policy and the risk management sections of the Trustees’ Report for more information).
24
**SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **Income recognition**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised, and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
Income received in advance of the provision of care services is deferred until the criteria for income recognition are met.
In accordance with the Charities SORP FRS102, volunteer time is not recognised.
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## **Expenditure recognition and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- **Costs of raising funds** comprise fees paid in respect of fund management advice in relation to the charity’s portfolios of quoted investments, which are managed under discretionary management agreements.
- **Expenditure on charitable activities** includes the costs of running the charity’s Care Home in Ansdell and of its convents as well as all other costs associated with furthering the charitable purposes of the charity through the provision of its charitable activities. These costs include charitable grants and donations, direct and support costs in respect to the support of members of the Congregation and their ministry. It also includes governance costs.
Charitable grants and donations are made where the Trustees consider there is real need following a review of the details of each particular case and comprise single year payments rather than multi-year grants. Grants and donations are included in the statement of financial activities when approved for payment. Provision is made for grants and donations approved but unpaid at the period end.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **Allocation of support and governance costs**
Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of personnel development, financial procedures, provision of office services and equipment and a suitable working environment.
25
**SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **Tangible fixed assets**
As at 31 August 1996 the Trustees estimated the current value of fixed assets required to be shown in the balance sheet. Subsequent acquisitions or improvements of £2,500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight-line basis as follows:
Where no formal analysis is available, it is assumed that the cost /valuation of freehold properties derive equally from the land and the buildings.
||Annual rate|
|---|---|
|Freehold land|Nil|
|Freehold buildings|2%|
|Long leasehold buildings and improvements|2%|
|Fixtures, furniture, and equipment|5% to 20%|
|Motor vehicles|25%|
## **Financial Instruments**
The charity only holds financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **Investments**
Investments held for the long-term to generate income or capital growth are carried at fair value as fixed assets.
Realised gains are the difference between sales proceeds and the carrying value of the investment. The carrying value is the fair value at the beginning of the year or the purchase cost where the investment was acquired during the year.
Unrealised gains are the change in value of investments after considering any movements in investment holdings such as purchases and disposals of investments.
Realised and unrealised gains are accounted for within the Statement of Financial Activities.
## **Debtors**
Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Deposits for more than three months and up to one year have been disclosed as short-term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.
## **Services provided by members of the Congregation**
For the purposes of these accounts, no value has been placed on administrative and other services provided by the members of the Congregation.
26
**SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are considered in arriving at the net movement in funds.
## **Funds**
General funds comprise the accumulated surplus or deficit from the Statement of Financial Activities which is not restricted or designated funds. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.
Designated funds comprise funds that have been set aside at the discretion of the Trustees for specific purposes. The purpose and use of the designated unrestricted funds are set out in the notes to the accounts.
Restricted income funds comprise donations and grants held in trust to be applied for specific purposes. Restricted funds in recent years related to Covid grants which were fully spent before the year end in accordance with the relevant restrictions. These have not been separately disclosed in the Statement of Financial Activities due to being immaterial.
## **Employee benefits**
Employment benefits, including holiday pay, are recognised in the period in which they are earned. Termination benefits are recognised in the period in which the decision is made and communicated to the relevant employee(s).
## **Pension contributions**
Contributions in respect of the charity’s defined contribution pension scheme are charged to the statement of financial activities when they are payable to the scheme. The charity’s contributions are restricted to the contributions disclosed in note 9. There were no outstanding contributions at the year end. The charity has no liability beyond making its contributions and paying across the deductions for the employees’ contributions.
27
**SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
|**FOR**|**THE YEAR ENDED 31 AUGUST 2025**|||||||
|---|---|---|---|---|---|---|---|
|**1.**|**GRANTS, DONATIONS AND LEGACIES**|||||||
||||||**2025**|**2024**||
||||||**£**|**£**||
||Sisters' salaries and pensions||||249,662|281,469||
||Other donations||||3,803|14,640||
||||||**------------------**|**------------------**||
||||||253,465|296,109||
||||||**=========**|**==========**||
|**2.**|**INVESTMENT INCOME**|||||||
||||||**2025**|**2024**||
||||||**£**|**£**||
||Income from listed investments||||554,689|603,377||
||Bank interest||||24,554|58,342||
||||||**------------------**|**------------------**||
||||||579,243|661,719||
||||||**=========**|**==========**||
|**3.**|**SURPLUS ON DISPOSAL OF TANGIBLE**|**FIXED**|**ASSETS**|||||
|||||**Motor**||||
|||**Property**||**Vehicles**|**2025**|**2024**||
||||**£**|**£**|**£**|**£**||
||Net proceeds from disposal|771,260||5,100|776,360||-|
||Less: net book value of assets disposed of|(182,500)||(1)|
(182,501)||-|
|||**----------------**||**-----------------**|**-----------------**|**-----------------**||
|||588,760||5,099|593,859||-|
|||**========**||**=========**|**========**|**=========**||
|**4.**|**EXPENDITURE ON CHARITABLE ACTIVITIES**|||||||
||**CARE HOME**|||||||
||||||**2025**|**2024**||
||||||**£**|**£**||
||Staff costs||||1,171,225|1,083,409||
||Direct costs||||90,635|89,639||
||Premises costs||||175,116|163,777||
||Depreciation||||66,996|62,856||
||Administration and other costs||||116,686|100,219||
||||||**---------------------**|**---------------------**||
||||||1,620,658|1,499,900||
||Governance and support costs||||173,893|142,840||
||||||**---------------------**|**---------------------**||
||||||1,794,551|1,642,740||
||||||**==========**|**==========**||
28
**SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **5. EXPENDITURE ON CHARITABLE ACTIVITIES SUPPORT OF MEMBERS OF THE CONGREGATION AND THEIR MINISTRY**
|||**2025**|**2024**|
|---|---|---|---|
|||**£**|**£**|
||Sisters' living & personal expenses|177,899|188,221|
||Premises costs|110,411|83,099|
||Depreciation|39,072|37,323|
||Administration and other costs|8,684|11,012|
|||**---------------------**|**---------------------**|
|||336,066|319,655|
||Governance and support costs|104,335|85,703|
|||**---------------------**|**---------------------**|
|||440,401|405,358|
|||**==========**|**==========**|
|**6.**|**EXPENDITURE ON CHARITABLE ACTIVITIES**|||
||**GRANTS PAID**|||
|||**2025**|**2024**|
|||**£**|**£**|
||**Grants paid to overseas branches of the Congregation**|||
||Support of sisters and their ministries|||
||- Ireland|882,758|453,809|
||- Belgium|147,507|-|
||Ireland - Community support|33,434|160,078|
||Grants to Generalate of the Congregation|28,225|338,923|
|||**---------------------**|**---------------------**|
|||1,091,924|952,810|
||Governance and support costs|69,557|57,136|
|||**---------------------**|**---------------------**|
|||1,161,481|1,009,946|
|||**==========**|**==========**|
29
**SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
|**7.**|**GOVERNANCE AND SUPPORT COSTS**|||
|---|---|---|---|
|||**2025**|**2024**|
|||**£**|**£**|
||**Support costs**|||
||Staff costs|169,878|145,728|
||Professional fees|29,012|18,145|
||Premises and insurance|59,003|50,886|
||Administration and other costs|51,872|46,995|
|||**---------------------**|**---------------------**|
|||309,765|261,754|
||**Governance costs**|||
||Professional fees|38,020|23,925|
|||**---------------------**|**---------------------**|
|||347,785|285,679|
|||**==========**|**==========**|
||Allocated as follows:|||
||Care Home|173,893|142,840|
||Support of members of the Congregation and their ministry|104,335|85,703|
||Grants paid|69,557|57,136|
|||**---------------------**|**---------------------**|
|||347,785|285,679|
|||**==========**|**==========**|
|**8.**|**NET INCOME/EXPENDITURE FOR THE YEAR**|||
|||**2025**|**2024**|
|||**£**|**£**|
||**This is stated after charging:**|||
||Investment management fees|129,166|128,049|
||Depreciation|106,068|100,179|
||Auditors' remuneration|||
||- Audit fees (including VAT)|||
||Current year|27,700|21,400|
||Under-accrual in prior year|4,200|-|
|||**---------------------**|**---------------------**|
|||31,770|21,400|
|||**==========**|**==========**|
|**9.**|**STAFF COSTS AND TRUSTEES REMUNERATION**|||
|||**2025**|**2024**|
|||**£**|**£**|
||Staff costs during the year were as follows:|||
||Wages and salaries|1,196,054|1,109,513|
||Social security costs|96,198|74,701|
||Pension costs|48,851|44,923|
|||---------------------|---------------------|
|||1,341,103|1,229,137|
|||==========|==========|
30
**SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
||**2025**|**2024**|
|---|---|---|
||**No.**|**No.**|
|The number of employees whose emoluments|||
|exceeded £60,000 were:|||
|£80,001 - £90,000|1|-|
|£60,001 - £70,000|-|1|
||========|========|
The key management personnel of the charity comprise the Trustees (who receive no form of remuneration) and the senior management team. The total amount of employee benefits (including employer pension contributions and employer National Insurance contributions) received by key management personnel for their services to the charity was £192,266 (2024: £175,445).
The two most senior employees, who are considered to be members of the key management personnel, were paid in aggregate £136,641 (2024: £126,503) and the employer National Insurance costs were £22,287 (2024: £18,065) with employer’s pension contributions amounting to £33,338 (2024: £30,877).
## **10. STAFF NUMBERS**
|Average staff numbers in the year were:||||
|---|---|---|---|
||**2025**||**2024**|
||**No.**||**No.**|
|Care Home||45|46|
|Administration||2|2|
||---------------------||---------------------|
|||49|48|
||==========||==========|
31
**SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **11. TRUSTEES' EXPENSES AND REMUNERATION AND TRANSACTIONS WITH THE TRUSTEES**
The Trustees of the Charity are also members of the Congregation and as such have taken vows of poverty under which they have renounced all personal rights to income and capital. The Charity provides for the essential needs of all members of the Congregation within the Region. The living costs of the Trustees are therefore borne by the Charity.
## **12. TAXATION**
The Sisters of Charity of Jesus and Mary Anglo-Irish Province is a registered charity and therefore is not liable to Income Tax or Capital Gains Tax on income or gains derived from its charitable activities as it falls with the various exemptions available to registered charities.
## **13. TANGIBLE FIXED ASSETS**
||**Leasehold**|**Freehold**|**Fixtures,**|||
|---|---|---|---|---|---|
||**buildings &**|**land &**|**Furniture &**|**Motor**||
||**improvements**|**buildings**|**equipment**|**Vehicles**|**Total**|
||**£**|**£**|**£**|**£**|**£**|
|**COST OR VALUATION**||||||
|At 1st September 2024|3,168,144|1,085,041|395,758|114,169|4,763,112|
|Additions in year|**-**|-|20,700|16,995|37,695|
|Disposals in year|**-**|(250,000)|-|(12,449)|(262,449)|
||**-------------------**|**------------------**|**-----------------**|**---------------**|**----------------**|
|At 31 August 2025|3,168,144|835,041|416,458|118,715|4,538,358|
||**-------------------**|**------------------**|**-----------------**|**---------------**|**------------------**|
|**DEPRECIATION**||||||
|At 1 September 2024|1,164,775|298,747|284,032|91,526|1,839,080|
|Charge for year|63,363|8,350|16,502|17,853|106,068|
|Disposals in year|**-**|(67,500)|-|(12,448)|(79,948)|
||**-------------------**|**------------------**|**-----------------**|**---------------**|**----------------**|
|At 31 August 2025|1,228,138|239,597|300,534|96,931|1,865,200|
||**-------------------**|**------------------**|**-----------------**|**---------------**|**------------------**|
|**NET BOOK VALUE**||||||
|At 31 August 2025|1,940,006|595,444|115,924|21,784|2,673,158|
||**==========**|**=========**|**==========**|**=======**|**=========**|
|At 31 August 2024|2,003,369|786,294|111,726|22,643|2,924,032|
||**==========**|**=========**|**==========**|**=======**|**=========**|
32
**SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
|**14.**|**INVESTMENTS**|**2025**||**2024**||
|---|---|---|---|---|---|
|||**£**|**£**|**£**|**£**|
||At 1 September 2024||21,745,176||20,206,921|
||Additions||6,943,410||6,216,348|
||Disposals|||||
||Proceeds|(7,947,912)||(6,312,922)||
||Gains/(Losses) by reference to|||||
||opening value|9,052||224,031||
|||**-------------------**||**-------------------**||
||Disposals|||||
||(at opening market value)||(7,938,860)||(6,088,891)|
||Unrealised (Gains)/losses||679,295||1,410,798|
||||**---------------------**||**---------------------**|
||At 31 August 2025||21,429,021||21,745,176|
||||**===========**||**===========**|
||||**2025**||**2024**|
||||**£**||**£**|
||**Listed on a UK stock exchange**|||||
||Equities||10,361,208||9,806,766|
||Fixed interest stocks||10,156,644||10,685,952|
||||**---------------------**||**---------------------**|
||||20,517,852||20,492,718|
||Fixed Term Deposits||433,233||845,595|
||Portfolio bank deposits||477,936||406,863|
||||**----------------------**||**----------------------**|
||||21,429,021||21,745,176|
||||**===========**||**===========**|
||At cost||19,706,750||20,209,791|
||||**===========**||**===========**|
|**15.**|**DEBTORS**|||||
||||**2025**||**2024**|
||||**£**||**£**|
||**Due within one year**|||||
||Trade debtors||37,105||83,319|
||Prepayments and accrued income||15,608||27,237|
||||**---------------------**||**---------------------**|
||||52,713||110,556|
||||**===========**||**===========**|
33
**SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **16. CREDITORS: Amounts falling due within one year**
|**16.**|**CREDITORS: Amounts falling due within one year**|||
|---|---|---|---|
|||**2025**|**2024**|
|||**£**|**£**|
||Trade creditors|12,952|35,075|
||Taxation and Social Security|19,808|15,173|
||Accrued grants|45,186|652,270|
||Accrued expenses|53,063|44,391|
|||**---------------------**|**---------------------**|
|||131,009|746,909|
|||**==========**|**==========**|
|**17.**|**CREDITORS: Amounts falling due after more than one year**|||
|||**2025**|**2024**|
|||**£**|**£**|
||Amount due to the Generalate of the Sisters of|||
||Charity of Jesus and Mary|263,686|263,686|
|||**==========**|**==========**|
The amount due to the Generalate of the Sisters of Charity of Jesus is non-interest bearing and is not expected to be paid within one year.
## **18. DESIGNATED FUNDS**
- a) The Trustees have designated funds out of the unrestricted funds for specific purposes as follows:-
## **Retirement Fund**
A fund has been designated in respect of the Charity’s commitment to provide for the retirement and care in old age and sickness of the Congregation’s members. A review of the Congregation’s membership indicated that a fund of some £21m is required to finance fully the Charity’s commitment to provide care for its members, after taking account of their occupational pension rights. The fund was raised to this level by the end of August 2016. Since then, a number of members have died which reduces demands upon the fund. However, care costs have been subject to an above-average rate of inflation. Pending a further detailed review, the Trustees have decided to designate the entire value of the Charity’s investment portfolios to the Retirement Fund. As such the Fund will fluctuate as investment values rise and fall.
In the year, expenditure on investment management fees and in support of elderly Sisters in England and Ireland amounted to £1,326k (2024: £811k ), whilst investment income amounted to £555k (2024: £603k), an excess of expenditure over income of some £772k (2024: £208k). Investment gains were £688k (2024: £1,635k) giving rise to a decrease in the fund of £83k (2024: increase of £1,427k). To bring the Fund into line with the investment portfolios £233k was released from the designation (2024: £111k added to). The level of the fund, investment values and the likely needs of the membership will continue to be monitored.
## **Fixed Assets Fund**
In order to fulfil its charitable objectives, the Congregation needs a large number of properties. These properties, although they are unrestricted assets cannot be realised without undermining the Congregation’s work and the Trustees therefore feel that it is appropriate to reflect the investment in fixed assets by means of a designated fund. Transfers reflecting the net movement in fixed assets, were made in the year.
34
**SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **18. DESIGNATED FUNDS (continued)**
|b)|**Analysis of Movements – current year**|||||
|---|---|---|---|---|---|
|||**Balance**|**Net income**||**Balance**|
|||**1 September**|**expenditure**||**31 August**|
|||**2024**|**& gains/(losses)**|**Transfers**|**2025**|
|||**£**|**£**|**£**|**£**|
||Retirement Fund|21,745,176|(83,306)|(232,849)|21,429,021|
||Fixed Assets Fund|2,924,032|(106,068)|(144,806)|2,673,158|
|||--------------------|------------------------|--------------------|------------------|
|||24,669,208|(189,374)|(377,655)|24,102,179|
|||**===========**|**===========**|**=========**|**==========**|
|b)|**Analysis of Movements – prior year**|||||
||Retirement Fund|20,206,921|1,427,122|111,133|21,745,176|
||Fixed Assets Fund|3,024,211|(100,179)|-|2,924,032|
|||--------------------|------------------------|--------------------|------------------|
|||23,231,132|1,326,943|111,133|24,669,208|
|||**===========**|**===========**|**=========**|**===========**|
## **19. ANALYSIS OF NET ASSETS BY FUNDS**
|**Analysis of net assets between funds**
**– current year**
Tangible fixed assets
Investments
Current assets
Current liabilities
Creditors due after one year
**Analysis of net assets between funds**
**– prior year**
Tangible fixed assets
Investments
Current assets
Current liabilities
Creditors due after one year
|**General**
**Fund**
**Designated Funds**
**Total**
**Fixed**
**assets**
**Retirement**
**£**
**£**
**£**
**£**
-
2,673,158
-
2,673,158
-
-
21,429,021
21,429,021
1,401,711
-
-
1,401,711
(131,009)
-
-
(131,009)
(263,686)
-
-
(263,686)
--------------------
----------------------
----------------------
---------------------
1,007,016
2,673,158
21,429,021
25,109,195
==========
===========
===========
==========
**General**
**Fund**
**Designated Funds**
**Total**
**Fixed**
**assets**
**Retirement**
**£**
**£**
**£**
**£**
-
2,924,032
-
2,924,032
-
-
21,745,176
21,745,176
1,487,864
-
-
1,487,864
(746,909)
-
-
(746,909)
(263,686)
-
-
(263,686)
--------------------
----------------------
----------------------
---------------------
477,269
2,924,032
21,745,176
25,146,477
==========
===========
===========
===========|
|---|---|
35
**SISTERS OF CHARITY OF JESUS AND MARY**
## **ANGLO-IRISH PROVINCE**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **20. RELATED PARTY TRANSACTIONS**
There were no related party transactions in the year (2024: None) other than the provision of temporal needs of the Trustees who are also beneficiaries of the charity as disclosed in note 11.
36