2022-12-31-accounts

Trustees		M Minogue
		H Holdworth
		M Banning
		M Keegan
Bursar		Margaret Minogue
Regional	Superior	Margaret Minogue
Charity number		264529
Principal	address	Ard Muire Convent
		New Line Road
		Roscrea
		Co.Tipperary
Governing	Instrument	Trust Deed dated 14July 1972,and updated in August 2011
Auditor		Kendall Wadley LLP
		Granta Lodge
		71 Graham Road
		Malvern
		Worcestershire
		WR142JS
Bankers		Allied Irish Bank (UK) Pic	Lloyds TSBPrivate Banking	Ltd
		8th Floor	Mayfair
		61 Temple Row	50Grosvenor Street
		Birmingham	London
		B25LT	W1K 3LF
Solicitors		Stone King LLP
		13Queen Square
		Bath
		BA1 2HJ
investment	advisors	Cazenove Capital
		1 London Wall Place
		Barbican
		London
		EC2Y 5AU
		England

		Page
Trustees' report		1-3
Statement oftrustees'	responsibilities
Independent auditor's	report	5-7
Statement offinancial	activities
Balance sheet
Statement ofcash flows		10
Notes to the financial	statements	11-26

				Unrestricted	Unrestricted	Unrestricted	Total	Unrestricted	Unrestricted	Total
				funds		funds		funds	funds
				general		designated		general	designated
		Notes		2022		2022 E	2022f	2021	2021	2021
Income and endowments			from:
Donations and legacies						20,000	20,000	8,400		8,400
Charitable activities				25,452			25,452	24,576		24,57.6
Investments				154,242		62,575	216,817	152,147	60,010	212,157
Other income				471			471	5,026		5,026
Total income				180,165		82,575	262,740	190,149	60,010	250,159
Ex enditure on:
Raising funds				20,113		35,898	56,011	17,456	33,446	50,902
Charitable activities			8	151,838		189,451	341,289	1,969,737	178,819	2,148,556
Total resources
expended				171,951		225,349	397,300	1,987,193	212,265	2,199,458
Net gains/(losses)		on
investments			16	(250,090)		(433,011)	(683,101)	220,642	389,720	610,362
Gross transfers	between
funds								(4,995)	4,995
Net movement	in	funds		(241,876)		(575,785)	(817,661)	(1,581,397)	242,460	(1,338,937)
Fund balances	at 1
January 2022				2,024,526		6,594,280	8,618,806	3,605,923	6,351,820	9,957,743
Fund balances	at	31
December 2022				1,782,650		6,018,495	7,801,145	2,024,526	6,594,280	8,618,806

				2022		2021
			Notes
Fixed assets
Tangibie assets			15		2,497		3,746
Investment	properties		17		997,036		997,036
Investments			18		6,039,874		6,167,196
					7,039,407		7,167,978
Current assets
Debtors			20			173
Investments			21	788,245		1,475,523
Cash at bank and in		hand		5,515		5,956
				793,760		1,481,652
Creditors:	amounts	falling due within
one year				(32,022)		(30,824)
Net current	assets				761,738		1,450,828
Total assets less current liabilities					7,801,145		8,618,806
Income funds
Unrestricted	funds
Designated	funds		23	6,018,495		6,594,280
General unrestricted		funds		1,782,650		2,024,526
					7,801,145		8,618,806
					7,801,145		8,618,806

				2022		2021
			Notes	F
Cash flows from operating		activities
Cash absorbed by operations					(348,757)		(2,151,048)
Investing activities
Purchase oftangibie fixed assets						(4,995)
Purchase of investments				{2,534,650)		(6,978,893)
Proceeds on disposal of investments				1,978,871		7,727,051
Interest and dividends received				216,817		212,157
Net cash (used in)/generated		from
investing activities					(338,962)		955,320
Net cash used in financing		activities
Net decrease in cash and	cash equivalents				(687,719)		(1,195,728)
Cash and cash equivalents	at beginning		ofyear		1,481,479		2,677,207
Cash and cash equivalents		at end of	year		793,760		1,481,479
Reiating to:
Cash at dank and in hand					5,515		5,956
Short term deposits included		in current
asset investments					788,245		1,475,523

Unrestricted	Unrestricted
funds	funds
designated	general
2022	2021
20,000	8,400

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Unrestricted	Unrestricted
funds	funds
general	general
2022	2021
	F
471	5,026

		Unrestricted	Unrestricted	Total	Unrestricted	Unrestricted	Total
		funds	funds		funds	funds
		general	designated		general	designated
		2022	2022	2022	2021	2021	2021
					F		P
Investment	management	20,113	35,898	56,011	17,456	33,446	50,902
		20,113	35,898	56,011	17,456	33,446	50,902

				Direct costs	Premises	Payments	to	Other	Total	Total
					and	Sister			2022	2021
					equipment	Houses,
						missions
							and
						donations
				2022		2022		2022
				F				E
Staffcosts				9,277					9,277	8,495
Depreciation		and
impairment				1,249					1,249	1,249
Sisters' expenses and
allowances				1,534					1,534	1,242
Provisions	and laundry			1,837					1,837	1,150
Travelling	and motor
expenses				1,875					1,875	1,442
Heat and	light			728					728	717
Telephone				666					666	554
Repairs and		renewals		772					772	183
Gardening	costs				48				48	176
Other charitable
expenditure		(see note	9)		3,020	121,458		177,616	302,094	2,114,874
				17,938	3,068	121,458		177,616	320,080	2,130,082
Share ofgovernance			costs
(see note	10)			21,209					21,209	18,474
				39,147	3,068	121,458		177,616	341,289	2,148,556
Analysis	by	fund
Unrestricted		funds-
general				28,058	3,068	120,712			151,838	1,969,737
Unrestricted		funds—
designated				11,089			746	177,616	189,451	178,819
				39,147	3,068	121,458		177,616	341,289	2,148,556

8	Charitable activities
	For the year ended 31 December 2021

					Direct costs	Premises Payments to	Premises Payments to	Other	Total
						and	Sister		2021
						equipment	Houses,
							missions
							and
							donations
							E
Staff costs					8,495				8,495
Depreciation and			impairment		1,249				1,249
Sisters' expenses			and	allowances	1,242				1,242
Provisions	and laundry				987	163			1,150
Travelling	and motor expenses				1,442				1,442
Heat and light					717				717
Telephone					554				554
Repairs and renewals					183				183
Gardening	costs					176			176
Other charitable		expenditure				2,280	1,941,310	171,284	2,114,874
					14,869	2,619	1,941,310	171,284	2,130,082
Share ofgovernance				costs (see note 10)	18,474				18,474
					33,343	2,619	1,941,310	171,284	2,148,556
Analysis	by fund
Unrestricted funds			- general		26,478	2,619	1,940,640	-	1,969,737
Unrestricted funds			- designated		6,865		670	171,284	178,819
					33,343	2,619	1,941,310	171,284	2,148,556

Analysis	ofOther charitable donations
		2022	2021
Transfer	offunds to Ireland		1,939,716
Donations		121,458	1,927
Premises	and equipment	3,020	2,491
Bursaries		40,690	26,400
Nursing	home care for sisters	136,926	136,926
		302,094	2,114,874

Support	costs
		Support	Governance	2022	2021
		costs	costs
		F
Audit fees			3,000	3,000	3,078
Legal and	professional		3,000	3,000
Accountancy			15,084	15,084	15,246
Bank charges and interest			125	125	150
			21,209	21,209	18,474
Analysed	between
Charitable	activities		21,209	21,209	18,474

The analysis ofauditor's	remuneration	remuneration	is as follows:
Fees payable to the company's		auditor and associates:
Audit ofthe company's	annual accounts				3,078
Non-audit services
All other non-audit services				5,400	5,400
Total non-audit fees				5,400	5,400

The average	monthly number of employees during th	e year was;
		2022	2021
		Number	Number
Employment	costs	2022	2021
			F
Wages and salaries		9,263	8,495
Social security costs		14
		9,277	8,495

				Unrestricted	Unrestricted	Unrestricted	Total	Unrestricted	Unrestricted	Total
				funds		funds		funds	funds
				general		designated		general	designated
				2022		2022		2021	2021	2021
								F		F
Revaluation	of
investments				(250,090)		(433,011)	(683,101)	107,664	118,786	226,450
Gain/(loss)	on	sale	of
investments								112,978	270,934	383,912
				(250,090)		(433,011)	(683,101)	220,642	389,720	610,362

15	Tangible fix	ed assets
				Fixtures, Motor vehicles			Total
				fittings	&
				equipment	f.	f
	Cost
	At 1 January	2022		19,207		4,995	24,202
	At 31 December 2022			19,207		4,995	24,202
	Depreciation	and impairment
	At 1 January	2022		19,207		1,249	20,456
	Depreciation	charged	in the year			1,249	1,249
	At 31 December 2022			19,207		2,498	21,705
	Carrying amount
	At 31 December 2022					2,497	2,497
	At 31 December 2021					3,746	3,746
17	Investment	property
							2022
	Fair value
	At 1 January	2022 and	31 December 2022				997,036

18	Fixed asset investments	Fixed asset investments
					2022	2021
					F	F
	Listed investments				6,039,874	6,167,196
	Movements in fixed asset		investments
						Listed
						Investments
						E
	Cost or valuation
	At 31 December 2022					6,167,196
	Additions					2,534,650
	Valuation changes					(658,975)
	Gain on disposal					(16,880)
	Disposals					(1,986,117)
	At 31 December 2022					6,039,874
	Carrying amount
	At 31 December 2022					6,039,874
	At 31 December 2021					6,167,196
19	Financial instruments				2022	2021
	Carrying amount	offinancial assets
	Debt instruments	measured	at amortised	cost		173
	Equity instruments	measured	at valuation		6,039,874	6,167,196
20	Debtors
					2022	2021
	Amounts falling	due within	one year:		F	F.
	Other debtors					173
21	Current asset investments
					2022	2021
						F.
	Cash deposits				788,245	1,475,523

22	Creditors: amounts	Creditors: amounts	falling due within one year
				2022	2021
				f.	f.
	Other creditors			208
	Accruals	and deferred	income	31,814	30,824
				32,022	30,824

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24	Analysis ofnet assets between	Analysis ofnet assets between	Analysis ofnet assets between	Analysis ofnet assets between	funds
			Unrestricted			Designated		Total	Unrestricted	Designated	Total
					2022		2022	2022	2021	2021	2021
					E		E		f.
	Fund balances at 31
	December 2022 are
	represented by:
	Tangible assets						2,497	2,497		3,746	3,746
	Investment properties						997,036	997,036		997,036	997,036
	Investments				5,415		6,034,459	6,039,874	573,698	5,593,498	6,167,196
	Current assets/(liabilities)			761,738				761,738	1,450,828		1,450,828
				767,153			7,033,992	7,801,145	2,024,526	6,594,280	8,618,806
25	Cash generated from		operations							2022	2021
	Deficit for the year									(817,661)	(1,338,937)
	Adjustments for:
	Investment income recognised			in	statement		offinancial	activities		(216,817)	(212,157)
	Gain on disposal ofinvestments										(383,912)
	Fair value gains and	losses on		investments						683,101	(226,450)
	Depreciation and impairment oftangible					fixed assets				1,249	1,249
	Movements in working		capital:
	Decrease/(increase)	in	debtors							173	(173)
	Increase in creditors									1,198	9,332
	Cash absorbed by operations									(348,757)	(2,151,048)
26	Analysis ofchanges		in net funds