## ## |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| |||||||||O
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0|||||||||| |||Ll.|||||||||| ## ## ## ## |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| ||||||%|e~|e~|CO0|0
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dl| ## ## |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||||||||| ##