Charlty Rggl$"tratlon No. 284529 ANGL04RISH PROVIII¢E OF THE SISTERS OF 8T MARIE W40ELEINE PQ$TEL ANNUAL REPORT AND FINANCIAL STATEMENYS FOR ThE YEAR ENDED 31 DECEMBER2023 ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL LEGAL AND ADMINISTRATIVE INFORMATION Tru$tse• Minogue H Holdworth M Banning M Kaegan Bursar Maryarel Minogue Roglonal Superlor Margaret Minogue Charlty numbèr 264529 Princlpal addre88 Ard Muir6 Convent New Line Road Roscrea Co. Trpperary Govemlng Instrument Trust Deed dated 14 July 1972, and updated In August 2011 Audltor Kendall Wadley LLP Granla Lodge 71 Graham Road Malvern Worceslershlre WR14 2JS Bankers Bank of Irèland UK PO Box 2124 Belfast BT19RS Lloyds TS8 Private Banking Ltd Mayfair 50 Grosvenor Street London W1K3LF Soll¢ltors Ston8 King LLP 13 Qugen Squar9 Bath BA12HJ Investment advl$ors Cazenove Capital 1 London Wall Place Barbi¢3n London EC2Y SAU England ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL CONTENTS Pagg Tru818e8' report Slalomgnl of Iru$le8s' responsibilities Independent auditor's report Statement of flnanclal aotlvlllo8 Balan￿ sheet Slalement of cash fiows 10 Notes to the financial statements ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees presant Ihair r&port and accounts for the year ended 31 December 2023. Th& flnandal statements have been prepared in accordance with the accounllng policigs sel out in rK)te 110 the financial 8talemenls and comply wf(h the Province's Trust Deed dated 14 July 1972 updalod in August 2011. the Charftle8 Act 2011 and Aocounting and Reporting by Charftles.. Statement of Recommènded Praclloe applicable to charities preparing Iheif accounts In a¢¢ordan¢o ￿th the Fin8ndal Rgporting Standard appli¢abl8 in thè UK and Republic of IreLgnd (FRS 1021 (effective 1 January 2019)" OblocOvg8 and *C￿¥1t1•S The Trust Deed stsles ils prfncip81 objeotives lo ba advancing, Supporting or maintaining of all or any of the charitable work for the lime belng or from lime to ￿me carried on in the United Kingdom in such 8 manner as the Superior shall dlrect or for such other chathabl& purposes or purptsses connected with Ihe advancement of tho Roman CatholS¢ religion as th& Provinca or a majority in poinl of number of the Province with tho consent of the Superior shall see fll. Inve$tm•nt P0￿r¥ Investment power8 are govemed by the Trust Deed, which pemiits funds lo be Invested withln the prevailing tharSlles legi81ation. As8e18 are held lo generate Investment income for charltable expenditure, and are held wllhin the trustees. powers. Publ1¢ Bonefft The Iruslee5 have p81d due regard to guidance issuad by the Charity Commission in dèe4dlng what activities the Provlnce should undertakè. All tha Province activib'es are focused on the advan￿ment of the Rtsman Calhollc religion. These aCt￿lieS are open lo all the community and as such the actlvilles of the Charty deliver public benafiL Inspired by our faifh in the Word tsf God. wè, Ilke J88U8, ￿11 look upon evèryone with respect and compasslon. By example and support. we alm to further the Kingdom in the name oflhe Falhar, Son and Holy Spirit. The Province ha8 the Mponslbilty lo nurture Ils members Ix)Ih splrftually. emotionalty and physlologlc811y. The elected Reylonal Superior as the represenlallve of the Superior General has a responsibllity lo mainlain vibrant life wlihln the Provlnce. Achievaments and p•rftsmMnco R&V￿W of Dovelopments Durlng th• Year During the year the communlty memb8r8 have engagad in all of the pdnclpal argas referred to under Ihe headlng 'Policy' above. and through Ihglr a¢tiwlies have continued lo witness the Oblècts of the Order. The Sisters have been Involved In couns6lllng, vlslllng tha slck and housebound. tsklng Ihern Communion ea Wogk. Tho sistors havg also made various donations lo worjd disaster8, CAFOD and to missionary people based In South Affica and India. The funds donated in South Africa have gone towards eTèdlng 8nd malntsining clinic cenlres for HIV Sufferers, and the funds donale(l in Indi8 havo baen foi &ducallonal purposes. Th& Community of St. Joseph's have also have also promded a lermly bursary lo flnance the educallon of dlsadvantgoed puplls. This amounted lo £35,942 {2022'. £40.6901 for the year. ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Financial roview Tho comrnunily have glv&n most of their worklng live8 to the charitable activities of lh8 congregallon. Where Ihl8 WOTk Is for organlsallons indapendenl of the Convent, any earnings are received by the Charity. The Chadty has a continuing commitment to support members of the ￿ngrega￿On, m8ny of whom conllnua lo Carry out tharitable work long p881 their normal retir8menl age. The principal funding sources of the Charity are inveslrnent income and tha rantal income from lèasing the 8Ghool prem18e8 to Sl Josoph's College and Preparatory, Readlng. This rental Income Is now pald over to the Irish PrO￿nCe as a donation. The Slalemenl of Flnancial Aclwilles (SOFA) $how8 that Income and galnsll105sesl on Inveslmenl$ for th8 year totalled £1,252,34212022.'1£420,36111 Totsl oxpendllure for the year has decreased from £397,300 10 £393,359. Overall. this gave nel income of £858,983 {2022.' nel expendlture £817,661}. R8s•ryo$ Poll¢y Nolo 22 te the finan￿al statements show¥ the ConureoalSon's re8eNes which have been deslgnaled for ¥peclflc purposes and ar6 separated from those available for day lo day requirements. The g&neral re80N8 fund r8pre88nls th8 unro8tr￿t8d free reserves arf$lng from p881 op8r8llng r88ufts. The Iwsloes are satisfied that the balance of the lund £2,249,1321s sulficlent lo enable the Congregation lo carry out tha objects ol the charity. These are constantly under re￿e￿ and wil be amended accordingly. Invo$tment Policy and Pgrformancg Investment powers are governed by Ihs Trust Deed whlch parmks funds to be invested within the prevalllng chailtSes legislalSon. Assets are hgld to generate Investment Income for charftable expendlture, and are held within the Iruslees, power8. Total investments al th& year end, which Inctudes both fix8¢J Inveslm8nls and also short term deposfts amountèd 10 £6,982,45112022 £6,828,119). Th886 Investsnents together wlth the Investment property wlll help g8nerale Incoma to financ4 Ehe work Lif the Charity. Rlsk Managgm•nt Th8 trustees has assessed the major risks to whi¢h tha Prowncg is exposed, in particular those relatèd lo the operatéons and flnance of the charity, and arè sallsffed that systems ar8 in place lo mltigale our expo8ur6 to malor rlsks. The future pLgns are to: continue lo counsel people, vi811 the slck and housebound. and take Communion lo thern each wefjk . educate PfT&sts . continue to make various donations lo worfd disasters. CAFOD and mlsslonary peoptè mak8 contAbullons lo the nursSng home in Irgland, whlch prO￿deS shellerod and nurslng arKommodatlon for both the commun(ty and local peop help with the development of the misslon in South Afrlca and Indla ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Structure, govemanco and management Thls Anglo Irlsh Provlnce fomis part of an intematlDnal Congregation known as the Slsters of Sl Marle Madelelne Po8to1. The Provin¢8 Lq odm1n1ster￿ by the Regional Supgrlor together wllh four other Irustsgs. It Is governed by Trust Deed dated 14 July 1972 and updated In August 2011 and Is registered wlh the Chartty Cornmission, Charlty Reglstrauon Number 264529. The Province has four trustees, the Regional Sup9Tlor and thr89 olh8r m8mb8rs of the c￿gregatiOn of the Slslar8 of Sl Marle M8delelne P08to1. The trustees who 88rvgd during the year and up to th8 date of slgnabjre of the finsndal 8talements were: M Mlnogue H Holdworth M Banning M Keegan Trust￿8 Nèw twsts89 arè 8lèct8d by tha B¢>8rtl of Trustees from members of the Order. Trustg9s are nominated by m9mbgrs of the board of IN818es 8nd appolnt8d wher8 th6y have nec888ary ski118 to o￿trIbutO 10 th9 thariV8 developm8nl. A cgrtlfloate of incorpoTaUon of Ih8 IN8108s as a body C￿Orate was188ued on 17 February 1998. The Irusl8es' rsportwas approvod by the Board (rf Trustees. M Mlnogu• Trustee Datad: 8 October 2024 ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The tnJstee8 are responslble for preparfng the Trustees, Report and tho financlal slalemènls In accordance wth applicable law and Unlted lfjngdom Accounung Standard8 Iunlled Kngdom Ganerally Accepted Accounllng Practice}. The18w applicable lo charilles in England and Wales requires the trustees lo prgpare financlal slalemonts for each financl81 year which give a INe and fair view of the stale of affairs of the Provln¢e and of the Incomlng re$ourco8 and application of r8sources of the Province for that year. In preparfng tho8a fSn8ndal ststemenls. the truste68 aro requlred lo.. select 8Liilablè accounting policAes and then appty them consislentty., - observe th8 mfythods and prlnclples In the Chadlles SORP; make judgemen18 and 88tlmal8s that are reasonablè and prudent., 81ate whether applicable accountlng standards have been followed. subject to any mat6ri81 departures disclosed explalned in the Ilnancial stalemgnl8', and prepare the financial 8lal6menl8 on the golng conc&m bas18 unl8881118 Inapproprlale to presurne that the cha￿tY wlll conllnue in operation. Thè Iru8tee8 are responsible for keeping suffioienl accounllng records that disolose wllh reasonable accuracy at any lime the finan￿81 poslllon of the Provlnco and onable them lo en$urg that the financial slal8rnents comply wllh the Charities Act 2011, the Charity IAccounls and Roportsl Regulallons 2008 and the provisions of the tru81 deed. They arg also r8sponslble for safeguarding the assets of th8 Province and henc8 for laklng reasonable steps for the provenuon and detection of fraud and olhei irregUlar￿e5. ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL Oplnlon We have audited th6 ffnanclal statements of Anglo-lrfsh province of the Slslers of Sl Marie Madeleine Postel (the 'Provlnca'l for the year ended 31 De￿mber 2023 which compris8 the glatemenl of ffinBncial activities, the balance sheet, the 8lalemenl of cash Ilows and the notes to the flnanclal slalernenl8, includlng a surnmary of slgnsficant accountlng pollcies. The finandal rgportlng framework that has been applied in their preparatltsn 1$ applicabl818W and United Kingdorn Accounllng Standard$, Including Flnanclal Reporting Standard 102 Thg FFnanc181 R8POrtlng Standard applicable in the UK and RepubllG of lTrland {Uniled Klngdom Gen8rallyAcoeptgd AGcounllng Practice). In our opinion, the flnanclal stslemwls.. give a true and falr ￿&W of the $1819 of the charity's affairs as 0131 December 2023 and of 118 incoming resources and applicallon of resources, for the year than ended., have been properly prepared in 8ccordanc8 wllh United ￿ngdorn Generally Accepted Accounllng Practlce. and have been prepared In accordance wlth th& requlremenls of Ihe Charttle8Ad 2011. BaslB for oplnion W8 condu¢lgd our audit in accordance with International Standards on Auditing IUKI IISAS IUK)} and applicable law. Our re8ponslblliti8s under thos& standards are further descrfbed in the Audil0rf8 responsibllllles for th8 8udll of tt3& financNal slalgm6nts stscllon of our report. We aro Indepgnd6nl of the Provlnce in accordance vAth the elhi¢al requirements that are relevant to our audit of the financlal 8latsmenls In the UK, including the FRC'S Elhlcal Standard, and we have fulfilled our other elhlcal responslbilttles In accordance wtth these requlremenls. We belleve that the audlt ewdence we havg obtained is SLrfiuonl and appropriate to provide a b881s for our oplnion. Conclusions relatlng to golng concern In auditing the financial slatem8nts, we have conduded Ihal the trustees, use of the golng concem ba818 of a(￿OUntIng In the preparation of tha finandal statements Is approprfale. Based on Ihg wort( we have perfOrn￿d, we have not Identified any rnaterlal uncertalnll88 relalSng to events or condlllons that, Indlvidually or colleolively, may cast sIgnifi￿nI doubl on the Province's ability to contlnue as a golng concern for a peiiod of at least twelve months from whèn the financial stalem6nls are authorised for issue. Our re8ponslblllli88 and tho rosponslbililies of Ihg trust¢$s with resp8ct to going concern are describ9d in Ih relevant sections of this report. Othèr Infomltlon The other Information ￿MprISeS the Infomiallon Included In the annual report olhgr than tho finandal statements and our audf(orfs report Ihereon. The Iruslees are re8pon3ible for the other Infomialion contained wllhin the annual report. Our oplnion on the finanual slalemenls does not cover the other inforniallon and we do not express any fomi of aS8Uran￿ conclu81on Ihereon. Our responsibility Is lo read the other information and, In dolng so, conslder whether the other information 18 malerfally in¢onsislenl wllh the financlal statemgnls or our knowledge obtained in the ¢our5o of th& audit. or otherwise appears lo be malerfally mi$8ts1ed. If we Idendfy such materi81 inconsislencles or appargnl malerfal ml8slalgrnanls, wa are requlied lo dotemlne whether this gives rise lo a malgrial misstatgmonl in the financlal slal8menl¥ themselves. ￿, basgd on the work we havg Performed, we conclude that there 18 a malerlal misstalernenl of th18 other Snfom4tlon, we are requlred to report that fact. We have nothing lo report In this rg98rd. ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ANGLO4RISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL Mattors on whlch wg arè r9qulrgd to report by oxcoptlon We have nolhlng lo report In respect of the followlng matters In relation to which the Chartlies (Accounts and Reports) R6gulations 2008 roqulro us lo report lo you it. in our opinion.. the inforrnation glven In the flrbanclal statements Is Inconslstenl in any materfal respect wllh the Irustses, report,. or 8ufficienl accounting records have not been kept-, or th& financi81 stal&men18 are not In agreement wllh the accounting r8cords,' or we have not recelved all the InfomialSon and explanations we requlrg for our audlL Responslbllltles of trustees AS explalned more fully In the stalèmenl of trustees, re8pon8lbllllles, the trustees aro responslble for the preparalh)n of the financial slalemenls and for being satisfied th81 they give a true and fair view, and for su¢h intemal control as the Iruslees delerming is necessary to enable the preparation of financial statements that are free from matèrial misstalemenl, whether due lo fraud or error. In preparing the financlal slalements. the Irustees are responslbla for assessing the Provino8'$ ablllly to continuo as a going Concem, disdosing, as appIl￿ble, mallars related lo going ncern 8t)d u$lng the uoing (y)n¢ern b881$ of accounting unless the trustees either intend to cease operations, or hava no reallstic allernallve bul to do so. Audltorfs re8pon$lblllllg8 for thè audli of tha financial ststements We have been appointed as auditor under section 144 of the Charilles A¢t 2011 and report In a¢eordan¢e wllh the Aot and rel¢v8nt regulatlons made or having effect thereundgr. Our objective5 are lo obtain reasonable assurance about whether the flnandal ststements as a wholè are free from malerlal mlsslalement. whether due lo fraud or error, and to issuo an auditor's report that indud88 our oplnion. Rèasonablg assurance is a high lgvel of assurance bul 15 not a guarantee that an audit conducted in accordance wllh ISAS (UK) wlll always delect a material misstatement when il exlsts. Misslalemenls can arise from fraud or error and ar8 consldered malerlal rf, Indlvldually or in the aggregate, thoy could reasonably be oXPeCted lo Influence the economic decisions of users taken on the basis of these flnandal slalements. The extent to whlch our procedures are capable of dotgdlng Irr9gulorflies, InGludlng fraud, b detsilgd below. Extent to whlch the audlt was Gonsldered Capable of dètsctlng Irregularllltrts Includlng fraud an understanding of the risk assessment pmcess Ilndudlng the assessment of the r58k of fraud) adopted by the Trustees Is obtained and their allltude lo rlsk ascertained. an assessment of tho $u$ceptlblllly lo material mis.slalament of the financial slal&menls as a result of m8ll8gemenl over-rlde orfraudlg made. il Is ensured that the 8ngag8menl team have, coll8cllv8ly, the appropriate compolence. capablllllgs and S￿lIS lo b8 involved in th6 assignment, are fvlly ￿lefed and understand the rl8k8 specillc lo the charity. Audit rB8ponsès to rltsks IdontlAod process8s (o lest the outcomes of our 88sgssm8nl Includ•, a revlew of Trustee rnlnules, analytlcal review, the relevance and accuracy of significant accounting ostlm8te$, subslanlive Igsling of sSgnificant Iransadions, work lo identify unusual or unexpected accounting entries, infomalion disclo88d in the financlal stalem8n18 Is traced lo supportSng doaum8ntallon. In all Inslances il Is acknowledg8d that material mls-slatements that arise from fraud may involve d&llbtsral& conce8lm8nt or colluslon and are, Iherefora, by their very nature harder to detect than those arlsing from error. ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL an underslandln9 of th6 legal and rogulalory framework as applloable to thg ¢harily is obt8lned logelh8r with kno￿edge of Ihg proc@du￿S pul in place by the Trustee8 In order lo comply wllh th8 sam8. 11 Is eslabllshed If there have been any In81ances of non-compllance wllh appllcablè laws and regula￿On5. shoukl Ihgr¢ be such br8aches, a full understanding, including gatherlng of relevant documentation appertaining lo the 8venl would be obtalned and assessed. 11 should be noted that Audlting $18ndards limit the audll pro¢edur8s roqulred to Id8nlify non-compliance with laws and regulations to enquiry of thè Trustees, being the sole management body, and the inspectlon of regulatory and legol correspondence, If any. A further descriptlon of our responsibllllie8 is available on the Financial Reporting Council's websKo at.. hllps.'Il www.frc.org.uk1audilors￿spOnSlbIJrtle$. This descTipb'on fomis part of our audilorfs reporL Other mattgrs Your att6ntlon Is drawn to the fact that the charfly has preparod flnancial slalemenls in accordanc8 wllh Accounting and Reportlng by CharSlles'. Slalemfynl of Ra¢oMmended Pra¢tlce applicable lo chari118s preparing their aC￿UnIS in accordance wmh the Flnanclal Reportlng Standard appllcable in the UK and Republlc of Ireland IFRS 102}" las amended) in preference lo th8 Acwunling and Reporting by Charities.. Statement of RecoFnmendad PraclSce Issued on 1 April 2005 which 18 referred lo in the extsnt regulations bul has now been withdrawn. Thls has begn dong in ordor for tho finanoial $lalemgnls to pro￿de a true and falr In accordance with ujrrenl Gener81ty A¢cepled Accounllng PraolS¢8. Us• of our r•port This r8POrt is made solely lo the charity's Iruslees, as a body, in accordance with part 4 of the Chariti8$ IA¢counls and Reports) Regulations 2008. Our audit work has been undertaken so that we might state lo the charills trustee8 those matters we are required to slate lo Ihgm In an auditorfs report and for no other purpose. To the fullest extent permltted y law, we do not 8CCaPt or assume rasponsibillty lo anyone other than the charity and Ihg Charitls Iruslee body, for our audit work, for Ihls report, or for the opinion8 we have fomed. Ellzaboth Negdham ACA CTA IVATI Isgnlor StstutoryAudltorl for and on bahalf of K•ndo11 Wadlgy LLP 8 October 2024 Chartorod Accountant8 StatutoryAud5tor Granla Lodge 71 Graham Road M8lvem Worcesl8rshire WR14 2JS Kend811 W8dley LLP Is e11glble for appolnlmonl as audSlor of the Provlnoe by ￿rtU8 of Its 911glbllily for appointment as auditor of a company under sectlon 1212 of the Companle8Act 2006. ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unre$trl¢tsd Unr•$trlctod fund$ fund8 goneral deslgnatod 2023 2023 Total Unwtrl¢ted Unre$tri¢tsd funds fund$ genèral dgslgnatsd 2022 2022 Total 2023 2022 Note8 ncom Oonations and legacles Charitable acliviues Investments Oth8r Income 20,000 20,000 25,452 216,817 471 26,355 188,562 2e.355 233.452 25,452 154,242 471 64,890 62,575 Total In¢omo 194,917 64,890 259.807 180,165 82,575 262,740 nditur8 on: Raising funds 20,017 34,397 54.414 20,113 35,898 58,011 Charltsble actlvthès 153,891 185,054 338.945 151,838 189,451 341,289 Total exp8ndltuYg 173,908 219.451 393.359 171,951 225,349 397,300 Nel gainsl{losse8} on inveslmenls 14 111,801 880.734 S92.535 1250,0901 1433,0111 1683,101} Not In¢omo1 lexpenditurel b•forè transfor8 132,810 726,173 858.983 1241,87eJ {575.7851 (817.661) Gross transfers be￿88n fijnds 333,672 1333,672) Not movgment In funds 486,482 392,501 858.983 1241,876> {575,7851 {817,861) Fund balane£s al 1 January 2023 1,782,650 6,018.495 7,801,145 2,024,526 6,594,280 8,618,806 Fund balancos at 31 Do¢ember 2023 2,249,132 8,410,9￿ 6,660,128 1,782,650 6,018.495 7,801,145 ANGL04RISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL BALANCE SHEET ASAT 31 DECEMBER 2023 2023 2022 Notes Flxed as$ots Tanulbig ussets Invegtmenl properti88 Investh)6nts 15 16 q7 1.248 1.701,546 8,441.605 2,497 997,￿38 6,039,874 8,144,399 7,039.407 Current a88•ts DebloTS Investments Cash al bank and tn hond 20 19 2,425 540,846 5,340 788.245 5,515 548.611 793.760 Cr•dltors: amounts lalllng du• wlthln on• y•ar 21 132.8821 {32,022) Net curenl 88sets 515.729 761.738 Total ass•ts 8,660.128 7.801.145 Incomè funds Unrestr5 Deslgnaled funds G8neral unrestrlct6d funds 22 6,410,996 2,249,132 6,018,495 1,782,650 8,660.128 7.801.145 8,660,128 7,801,145 Tho financlal 8ts18m8nts wwe approved by the Trustèe5 on 8 Octobw 2024 M Minogue Tru$ts• ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Not•s Cash tlows from op•raUng a¢tiYitio$ Cash absorbed by operallons 24 {367,3201 {348,757) Investlng actlvltles Purchase of investments Proceeds on disposal r)f Inve$lmenl$ Interest and dI￿dendS raceived 11,482,510) 1,368,804 233,452 (2,534,650) 1,978,871 216,817 Not ¢a8h g•Mrat•d froml(u&•d In) Inve¥ting activities 119,746 1338,9621 Not docrga¥g In ¢agh and cash oqulvalfrnts {247,5741 {687,7191 Ca8h and Cash equlvalènls al beglnnlng of yèar 793,760 1,481.479 Cash an(1 ea$h •qulval•nts •1 ¢nd of y•ar 546,18e 793.760 Relaung to: Cash at bank and in hand Short term dep0811s Included In current assot investments 5,515 540,846 788.245 546.186 793.760 10- ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Ac¢ountlng poll¢lo$ Charfty Information Anglo-lrish province of Ihtr Slslers of Sl M8rle Made￿1n0 Poslg11s g charity registered In England and Wales: lcharity number.. 264529) The prindpal addrgss isArd Mulre Convant. Naw Line Road. Rosecrea. Co. Tipperary. 1.1 Ac¢ounUng convontSon The financial statements have been prepared in accordance with Ihts Provlnce's governlng documanl, the Charilles Act 2011 and 'A¢counting and Rgporting by Charities.. Slaternenl of Recommended Practice applicable lo charllles preparing their a¢¢ounts in accordance with the Financ5al Reportlng Standard applicable In the UK and Republic tsf lieland {FRS 1L121 leffeclive 1 January 20191 The Province 18 a Publlc Beneffll Enllly as definod by FRS 102. The flnanclal 81alements have departed from the char￿@$ (Accounts and Rgportsl Regulations 2008 only to the oXt8nl required lo provide a true and fair *iew. This departure has Involved following the Stalèmenl of Recomm8nded Practice for charities apptying FRS 102 rather than the verslon of the Stalem8nl of Rectsmmended Practlcg whlch Is refarred lo In the Regulallons but which has 8lnce been whhdr8wn. The financial slalements are prapared In 8terllng, whlch18 the fundlonal currency of the Provlnce. Monetary amounts In Ihgse flnanoial stalemenls are roundèd lo the nearest £. The financAal slalemenl8 have bgen prepared under tho hlslort¢81 cost conventlon, modified lo Include cart8ln nand81 InslTum8nls al fair value. The prtncipal accounting policle8 adopted arg sol out b&low. 12 Golng concern At the lime of appro￿ing the finanGlal slalemenls, the trustees have a reasonable expectallon th91 the PrO￿nCe has adequate resourc&s lo conllnue in operational eXIsten￿ for the foreseeable fulurg and that Ihero ar6 no material uncertainties about ivs abllity lo Continue. Thus tho Iruslees continue lo adopt the going concern basis of a￿OUntIng in preparing the financial slatem8nl8. 1.3 Charitable funds Unrestricted funds are avallable for uso at the dlsGrelion of the trustees in futtherance of Ihglr charitable objectives unless the funds have been deslgnaled for other purposos. Deslgnatod funds compris9 funds whlch have been 88t aslde at the d18cretSon of the trust09s for sp￿ariC purpo8e8. The purposes and us6$ of tho desi9naled funds are sel out in the notes to the financial slalernenl3. 1.4 Income In¢ome18 recognlsed when tho Province is legally enlilled lo rt after any perfoman¢8 Condltlons h8ve been met, the amounts can bè measured rellably, and il Is probablo that Income will be received. Cash donations are recognlsed on rec8lpl. Other donations are rocognlsed once th& PrO￿nCe has been notffied of the donallon. unless performance conditions require deferral of the amount. Income ta recoverable in rolallon lo donations r8c6iv&d und8r Gift Aid or deeds of covenant Is recognlsed gt th& time of the donadon. Le nd Donations Legades and non cash donations are recognised when recèlved or wh6n tho Provln¢e becomes ￿gallY entitled lo them. R8¢eSpts of property, Snvestsments or ¢)ther gifts in lind ar8 includetl al mark81 value. ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL NOTES TO THE FINANCIAL STATEMENTS ICONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollclos {Contlnuodl en from Rental Incomg In re8P8Ct of Sl Joseph's Collago Is Included In the St818menl of Flnanclal AthM8s on straight Ilne basis over the lease term. Tax suffered on veslmenl nco Tax reciaimable from H M Revanuo & Customs is included in these accounts for the period to which il Teiate8. 1.5 Exp&ndlturo Direct charitable expendllure ￿nsIsts of all expenditure dSrectly relaung to the obl8ct8 of the Province. Value 8dded lax is induded within the category of expendllure to which il relates. veman Costs Govornanco costs Includg dlreot and relaled support rolaling to thg govemanco infrastructure allowlng the charity lo generate infomiallon required for publlc ac¢ounlablllty- 1.6 Tangiblg fixed assets Tanglbla fixed 8$sels are Inlll8lly measured at CO81 and subsgquenuy mogsured al cost or valuation. nel of depredation 8nd any impairment lossès. Depredalion18 recognlsed so as to wrilg off the c081 or valuallon of assets less Ihelr rosldual values over Ihglr useful Ilves on the followlng bases.. Flxtures. ffttlngs & gqulpment Motor vehlcl88 12% to 26% slraighl Ilne 25% 8tralght Ilne The gain or 1088 arising on the dlsptssal of an asset Is delemined as Ihg diff&rance balween the sale proceeds and the carylno valuè ofthe assèt, and Is ￿l%)gnIsed In the 8lat8menl of flnandal aotlvllle8. 1.7 Investmgnt propertiO9 The investment property relates lo the preparatory and senior college in Readlng whl¢h are rent￿ to St. Joseph's College. As such they are. classed as a So￿81 inveslrnenl and are Included al open market value. The rental Income to the Provlnca18 S81 al less thon fijll market value lo reflect the stglus of the sodal a88èL 1.8 Impalmi•nt of flxed a$$ots At 98¢h reporbng end dalè, tha Provlncg rgviews Ihg ¢arrying amounts of ils tangible assets lo determine whelher there Is any Indlcalon that those ass&l8 have suffered an Impairment loss. If any such Indicallon exlsls, the recoverable amounl of the asset 18 eslimaled In order to delemiSne the extenl of the impalrmgnl loss lif any). 12- ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 AcGounUng pollcloB (Continuadl Re¢overabl& amount is the higher of fair valuo19S$ ¢08ls lo sell and valua in use. If the recoveiable amount of an asset is estimated to be less than ils carrying amount, the carrylng amount of the asset is reduced lo 118 recoverable arnounl. An impaimienl loss is recogni5ed immediately In Income and exp8ndiluro for the year, unless Ihe relevant asset Is cauled al a revalued arnounl. In which ca8& thè impalimenl loss Is Iroated as a rgvalualion deuoase. Recognised impalrmenl losses are reversed tl, and only If, th6 reasons for the impairrnenl loss have ceased 10 appty. Wh8re an impaimienl loss subsequgnlly reverses, the carrying amount of the asset is increased lo the revised eslim81e of Sts recoverabl8 amount, bul 80 that the Increased cafrylng amount does not exceed the carrying amount that would have been delerrnined had no Smpaimienl loss been recognlsad for the asset in prior years. A reversal of an impairrnent loss is r@cognisad immediately. unless the relevant asset is carrfed In al a ievalued amount, in which ¢ase the reversal of the Impalmienl loss is treated as a revaluation increase. 1.9 Cash and ca¥h ¢qulvalents Cash and cash equivalents include cash in hand. deposits held al call with banks, and othèr short-lerm Ilquld Inv&6lmon16 wlth ￿lgInal malurfllgs of thrgo months or less. 1.10 Debtors Trade and other debtors are re¢L)gnl8ed at the Settlement arnout)t after any trade d18counl offered. Prepayrnenls ar8 valued al the amounl prepaid net of any trade dirycounls due. 1.11 Uoblllllo8 Liabililias ara r￿￿gniSed when there is an obligation al th9 balance sh661 data as a result of a past event. il is probable that a transfer of econom1¢ benefil wlll bo raqulred In setuemenl, and the amount of the settlernenl can be esllmaled reliab￿. Liabilitie5 are recognlsed al the amount that the charity anlicipales 11 will pay lo setlle the debt amount It has re￿iVed as advanced payments for goc*d and 8ervicèB it mu$l provlde. 1.12 Flnanclal Instrufflont8 The Charfly only ha8 flnancial assets and financial Ilabllltles of a klnd that quallfy a8 baslc finanolal inslrurnenls. Basic financial instruments are initially recognised al transaction value and subsequently measuied at Ihelr settlernenl value. "1.13 Forglgn oxchango Transacuons in foreign currancies are recorded al the ral8 ruling al the dale of the transactions. Balances dgnominaled in a foreign currency ara translated into s16ding al tho rale ruling on the balance sheet dale. Crlll¢al a¢oountlng g$tlmatgs and Judgomonts In the appllcallon of the PrO￿nce'S accountlng pollcles, the Iru8lees are requlred lo make ludgemenl8, eslimales and assumptions about the carrying amount of as$els and liabilities that ar8 not readily apparent from olher 80urc88. The 6stimates and associated assumpllons are basèd on historical experiencg and other factors that ar8 ￿nsIder8d to be relevant. Actual results may dlffer from Ihesa esllmal88. The e81imates and underfying assumptions are reviewed on an ongoing basis. Rew81ons lo accounlbng 8811malg8 are rgcognlsed In the perfod in whlch the @sllmate 18 revlsed where the revislon aff9￿S only that period, or in the period of the rev18ion and future periods where the revislon affects both ¢urrent and future periods. 13- ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEldBER 2023 Income from donation$ •nd l¢g8¢le• Unre8tricted Unrnstrictod lund$ fund$ doglgnatsd dosl9nat8d 2023 2022 Donations and gifts 20.000 Incomo from Invesbnent8 Unrestrl¢ted U￿r￿t￿¢t¢d funds fund8 general deslgnatad 2023 2023 Total Unr•$trletèd Unrnstrlctsd funds funds genoral do6ignated 2022 2022 Total 2023 2022 Ronlal incom& In¢oma from listed h)voslm6nls Intoresl recoivable 120,000 120,000 120,000 120,000 38,038 10,524 59.699 5.191 97,737 15,715 29,529 4,713 61,005 1,570 90,534 6,283 168,562 64,890 233,452 154,242 62,575 216,817 Charltablo o¢llvltE8s Unrg¥trlctgd fund$ general 2023 Unrestrlcted funds gonéral 2022 shteTS' pen81on 26,35S 25.452 14- ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 R4lslng fund8 Unre8trlcted Unrostrlctod fund fund8 genoral 2023 Total Unrn8tTictsd Unro$trl¢t9d fund$ fund8 general 2022 Total 2023 2023 2022 2022 Investment manag8m&nt 20,017 34,397 54.414 20.113 35,898 $6,011 20,017 34.397 54,414 20,113 35.898 56,011 15- ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 7 Charlt•bl• actlvltl•8 Dlrect costs Promlsg$Paym&nts to and Si$ter equlpment House8. miBslon6 and don8￿0￿$ 2D23 othor Total 2023 Total 2022 2023 2023 2023 Staff co8ls Depredation and impalrmenl Sislgrs, expenses and allowances Provigons and laundry Travelling and motr)r expenses Heal and light Telephone Repairs and renewals Gardening costs Other ¢harit8blo gxpendllurtt (see note 81 11,000 11,000 9.277 1,249 1,249 1.249 2,265 1,860 2,265 1,860 1.534 1,837 1,495 1,082 755 1,495 1,062 755 647 159 1,875 728 772 48 159 2.936 121.835 172,868 297.839 302,094 20.333 3,095 121,835 172,868 318,131 320,080 Share of govemance c081s (see nole 91 20,814 20,814 21,209 41,147 3,095 121,835 172,868 338.945 341,289 Anatysls by fund Unr8slricted fund$- general Unrestricted funds- dgsignatad 29.566 3.095 121.230 153.891 151,838 11,581 605 172,888 185,054 189,451 41,147 3,095 121,835 172,868 338.945 341,289 ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 7 Charltablo activities Icontlnuedl For the yoar ended 31 December 2022 Direct costs Premi$e$Payments to and Slstsr oqulpmont House¥. mlsgions and donations other Totsl 2022 staff Gosl$ Depreciation and impairment Sisters, expensès and allowances Provisions and laundry Travelllng and motor exponsgs Hoat and119hl Telephone Repairs and renewa13 Gardening co818 Olhèr charltable axpon(Ilturg 9,277 1,249 1,534 1,837 1,875 728 9,277 1,249 1,534 1,837 1,875 728 666 772 48 177,616 302,094 772 3.020 121,458 17,938 3,C68 121,458 177,618 320,080 Share of govemance u)81818ee note 9) 21,209 21.209 39,147 3,088 121,458 177,616 341.289 Analy818 by fund Unreslrided funds- general Unreslridod funds- designated 28.058 11,089 3,068 120,712 746 151,838 177,618 189,451 39,147 3,068 121,458 177,616 341,289 Analysls of Other charitable expendlture 2023 2022 Donations Prernises and equipment Bursari&s Nursing homa cara for 8181er8 121,835 2.938 35,942 136,926 121,458 3,020 40,690 136,928 297.639 302,094 17- ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support ¢08ts Support Govemance ¢o$t8 ¢osts 2023 2022 Aud￿ feès Legal and professk)nal Accountancy Bank charges and Interest 3,000 1,188 16,506 120 3,000 1.188 18,506 120 3,000 3,000 15,084 125 20,814 20.814 21,209 Analysed be￿a¢n Charitabl8 activities 20,814 20,814 21,209 10 Trustoes None oflhe Iru$l8es {or any persons conno¢tod wKh them) raceived any reMUne￿I10n during the year. The trustees of the Province are a180 memb6r8 of the ¢ongreg8llon and as such have taken vows of poverty under whlch they have renounced all personal rights lo Income and capllal. The charily provides for th& essential needs of all members of the congregallon within the Provlnce. The Ilving costs of the trustees are ther6for9 borno by Ihg Province. 11 Audito*s remuneration The an8lysls of audllorf$ romun9Talion is as follows.. Fees payable to tho company$ audltor and a$$oGlatss: 2023 2022 Aud>t oflhe company's annual accounts 3,000 3.000 Non4ufllt $8rvl¢g$ All olhar non-audll servloes 5,400 5,400 Total nonvaudit fees 5,400 5,400 16- ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 12 Employ008 Numbor of omployeo8 The average monthly number of employee8 durlng the year was: 2023 Number 2022 Number Employmènt costs 2023 2022 Wages and salarie5 Social security costs 10,858 142 9,263 14 11.0 9,277 No employee received total employee beneffts {excluding employer pension costs) of more than £60,000. 13 Taxatlon The charty is exempt from taxation on ils a¢tivilies because all ils income is applied for charitable purpose8. 14 Net gains on Inv•stmonts Unrestrlctsd Unrestrlctsd fund8 funds ggn8ral 2023 Totsl Unrnstrlcted Unrostrl¢tgd fund$ funds general 2022 Totsl 2023 2023 2022 2022 Revaluadon of inv&slm8nls 111,801 880,734 992,535 {250,0901 1433.011) 1683.1011 19- ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 T8nglblo flxgd a8s8ts Flxturo1,Motorv•hlcl&s flttlnp & oqulpment Total Cost Al 1 January 2023 19,207 4.995 24,202 At 31 December 2023 19,207 4,995 24,202 Dèprn¢laOon and impairnient Al 1 January 2023 DeprÈcAalion tharged In tho year 19,207 2,498 1,249 21,705 1,249 Al 31 December 2023 19,207 3,747 22,954 CarrylDg amount Al 31 December 2023 1.248 1,248 Al 310ecembei 2022 2,497 2,497 16 Investment prop•rty 2023 Fair valuo Al 1 January 2D23 Nel ga￿lS or losses through falr value adluslmen18 997,036 704,510 Al 31 December 2023 1,701,548 Tho Invesllnenl property reprgsenls freehdd land and buildings situated in Upper Radl8nd$ Road, Reading. which are rented to Sl Josaph's College. As such they are classed as a social Inve8tmenl. The fair valu& of the investment property h88 bean determlned by th8 Irusl808. The value was made on an open markat value ba$ls by rgforenca lo the percentage growth rale of the property market. 20- ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 17 Fixed asset inv￿tments 2023 2022 sled Investsnants 6.441,605 6,039,874 Mov•m&nts in fixod 1sts￿ irtVOBtments Ll$tsd Inv•8tments Co$¢ or valuallon Al 31 Dacomber 2023 Addllions Gains Disposals 6,039.874 1.482,511 288,025 {1,368.8041 At 31 Decembar 2023 6,441,806 Cgrylng ornount Al 31 December 2023 6,441,606 Al 31 Decernber 2022 6,039,874 18 Flnan¢lal Instruments 2023 2022 Canylng amount of financial asgats Equity instruments rneasured at valuation 6,441,6C 6,039,874 19 Currnnt asset Invo8tments 2023 2022 Ca8h deposits 540,846 788,245 20 Debtors 2023 2022 Amount8 falllng duo wlthln ono year: Prepayments and accrued income 2,425 21 ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 21 Crndltors: amounts falllng duo wlthln ontr yèar 2023 2022 Other creditors AccTuals and deferred incorne 162 32,720 208 31,814 32,882 32,022 -22- C4 r ) tyj (O r {992,535) 1,249 {216,8171 683,101 1,249 Movements in working capital.. Ilncreasolldecrease in debtors Increase In credltors (2,425) 660 173 1,198 Cash abgorbod by operatlons (367,3201 1348,7571 -25- ANGLO-IRISH PROVINCE OF THE SISTERS OF ST MARIE MADELEINE POSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 26 Anal￿1$ of chang•$ In not funds The Province had no material debt durlng the year. 26 Audltor$ Ethlcal Standard8 The relevant (¥rcumstsnc8s requlrlng dlsclosure In accordance wlth thè r9quiremenls of APB Ethical Standard - Provlslons Available for SM811 Enliliès are that, In common wrth many cknarities of our size and nature, we use our auditors lo asslsl with the preparation of the ac¢ount8. -26-