The English Dominican Congregation (Stone) Charitable Fund Annual Report and Accounts 31 March 2024 271922 Contents Repor1¥ Reference and adminislraliv8 details of the tharity. its Iruslees and adw58 TfUSt895' rnport Independent auditorfs report 32 Accounts Statement of finantyal 8ctfvf(le$ ComparalNè stslemènl of financlal actlvbtles 37 Balan¢e sh901 Statement of Cash flows 39 Prlndpal ac(x)unllng polldes 40 Notes lo the arMunts 47 The English Dominican Congregation (Stone) Charitable Fund Refernne• and admlnitytrative detsilB of the charity. its trustees and advisers Trusts Margaret Te￿$a Billinglon - (Sister Mary Teresal {ex-officAo- Priores5 Generar) Angela Mary Leydon- (Sister Angela Maryl Jane Ann Afves- (Sister Mary Juli81 M3vis Burton- {Sisl8r Mary David) Susan Perks- (Sister M8ry John) Administrallve add￿$ St Rose's Hous8 Beethes Gretrn Stroud Gloucestershire GL5 4AE Tolephono 01453762449 mini Ch•rlty r•gl•trntlon nUM￿r 271922 Audltor Buzzacott LLP 130 Wood Strggt London EC2V 8DL Prlnclp•l bankern The Royal Bank of So)Iland pk PO Box412 82163 Threadneedlg Slrget London EC2R 8LA In¥￿tMent manawrn 81**Roc* Inveslrnent Management (UK) Limrted 12 Throgmorton Avenue London EC2N 2DL The EThJlish Dominican Congregation (Slone} Charttable Fund 1 Reference and admlnl*trntlv• d•tall8 of tho charity. its trustses and advisors Solicltorn Ansons Solicitors knmrtod St Ma￿$ Chambern 5-7 Breadmarket Street Lthfjeld WS136LQ Ston• Klng LLP Boundary House 91 Charterhouse Street London EC1M 8HR Prop•rty ¢on•ult•nt Avison Young 65 Gresham Street London EC2V 7NQ The English DoMin￿n Congregation {Stonel Charitable Fund 2 Tru•tO•S' rnport Year lo 31 March 2￿24 The Iruslees present their report together with the accounts of The English Dominican Congr¢galK)n (Stone) Charitable Fund rthe chanw) for the year ended 31 Mafch 2024. The accounts have been prepared in accordance with the accounting poliThes set out on pages 40 10 46 of the attached ac£ounts and compty wtth thè charity's trust dtred. applicable Laws, the Charibes Act 2011 and Actounting and Reporting by Charities.. Slatèmant of Recommended Pr8th"ce applicable lo chartbes preparing their afxounts in acwrdance wlth the Financial Reportmg Stsndard applicable in the United Kingdom and Republic of Ireland IFRS 102). SNTRODUCTION The English Congregation of Domuiic8n Sisters was formed in 1929 by an amalgamab.tsn of fve existing Dominican Congregati(x￿, the oldest of whKh was that ol Stone, whth was loundgd in 1845. The Congregation h8s vesled all the property used for its purposes in England in the Irusle88 of a charitable trust dated 13 Juty 1976 known as The English Dominican Congregation (Stone) Charitable Fund. The charty ts re9iStered under the Charities Act 2011, Char Rogistration Number 271922. ISSION The object of the English Dominican Congregation (Slon&l Charitable Fund is the furtherance of th8 Roman Catholi¢ faiih. The charity aims lo support the Igligious and other charitable wo￿$ carried on by the members of the Congregation and Its Ca￿ for those members through0￿ thoir lives wilhin Ihe c￿gregatiOn. en 88tting the otyethes and ￿annIng the work of the charity for the year, and when encouraging the work of indiwdual sisters, the trLsslees have given ￿reful (￿n8￿deratIon lo tho Charty Commiss￿n,$ 9ukJanca on Publ￿ benefft. The ministries of the 5181ers ol the Congregation. all of wh￿h benefrt numeroys member8 of the gen8ral public. fall into the following main areas= • Worship and prayer Members of the Congregation are ￿1MMrttQd to personal and Ihufgical prayer which Is reltected in Iheir daily timetable. They are obliged to study in order lo further their knowledge of tho Christian tsrth. They gi￿ preference lo the study of sacred scripture and the teaching ol Ihe Church. so that they in tUTn can in51rucl and help others. Mernbers ol the Congregats'on also celebrale and pray with the wider community including people of other faiths. They do this through Ihe provision of spintual guidance or by just being available to listen in ts'mes ol need. Some sisters give lalks antl guide retreats and prayef groups. The sisters respect people of no farth and tsy to help them in appropriate ways. The English Dominican Con9regation {Slonel Charttable Fund 3 Trugto95' report Year lo 31 March 2024 MISSION {continuedl • S0ry81 and pastoral work Many members of the Congregation are involved in various fonns of social or pastoral work in drfferent parts of the country, induding care of the elderty and people wrth special needs, support of families. and chaplaincy work in educational and heamhcare estsblishmenls. In partrujlai. the sisters aim to help th& poor 8nd marginalised in socAety regardless of their personal background. faith, gender or individuJl rir￿Mstances. The Sister5 shared ihe convent premises with dNgrse group8 e.g. group8 of pilgrirns. Sl Vincent de Paul Society. and dubs lor the eldedy b8fore they vacated. When public concerts are arranggd In Church, the Congregation's premi888 ar8 usod for sgMng refreshments. • C¥fft of the 8lderly During the yearthe sisters prowded caro and assistance lo the eldèrfy at Sl Mary'8 Horno, Stone. The Home prowd8s care both for memt4rn oflhè ganeTal public and lor rn8mbgrs of the Congregation in neod of nursing care. • Education During the year tho charity opernted an educalthjnal 9st0￿5$hm8ThL SI R080'8 School Sn Slroud, Gloucestershlre providing gducation and care to 2-19 year olds. The Congre9alh)n also prov¥Jg$ a small unil for 19-25 yeai olds on th8 S￿￿01 St Ros&'s School called St Marlin's. Sl Rose'3 S¢ho(A 109elher wtth St Mgrtln'$, Collectively hereinafter referred lo a3"Sl Rose's". almy trj pmwdg thg h￿hOst quality 98T¥l¢e to chiklren, young people and young adutts with physical disabilities, 18arning disabllilies and a85ociated complex medical. sensory and communication drfficuf(ies in the age range 2-25 yaars. Th8 establishment alms lo undertake Ihis with due regard to th8 cathol￿ Iradttlons from which thg provision has developed. particularty Ihose of the Dominican order. A commitment to provmle support and professional devolopmenl ftjr staff, thereby enabling them lo meet the demanding expeciations of their role, 1$ central lo this rnission. The English Dornin￿￿n COngregatiC￿ IStr)nel Charit8ble Fund 4 Trustw•' rnport Year lo 31 March 2024 ACTIVITIES. SPECIFIC OBJECTIVES AND RELEVANT POLICIES Care of the m•mbers of th• Congrvgation In common wrth many religious congregations in Great Britain, the #gè profile of the members of the Congregation is inutrasing as existing members grow olde( and the number of nèw vocalirjns becomes minimal. The age profile ofthe Congregation is shown graPh￿alty below.. Number of sistsrs Age profile 2023124 59 & 6fW 6549 70-74 75-79 80.84 85-89 9)-94 95-99 under 100& over The CongTegatK¢n has an obligation, both moral and legal, to provlde care for tts members, none ol whom have resources ol their own and all ofwhom have devoted a significant part of their INes lo Iho care of the elderly. poor and marginalised in SLKiely. As the age profile of tho Congregalion inwases, $0 loo doe$ tho need to provide increasing and inc¥easlngly expensive ￿[e for the $isteTS. Following the dosure ol Ihg infirmary in the convenl at Stone in April 2022. Ihe srnall number of sisters who rem8lned in the convent no longer had the need for the remaining catering and housekeèping staff and in April 2023 the five members ol staff were made redundant. The o sile 3tsff continued to be employed until they found other &mploymenl $hortty aftorwards. Al the end of March 2024. fNe members of the CongregalK&n were receiwn9 care in the charws own nursing home, and a another wa5 r￿1ving care In a ￿re home in Gloucestershire. Over Ihe next fèw years, Ihe trustees do not expect the number requiring nursing Ca￿ to decrease. As a consequence the irustees are gNing careful consideration lo the impact of this on Ihe Work of indmdual members of the Congregation, the proptrrty requirements of the Congregation and Ihe financial Impli￿tiOnS. In this regard, the airns of the trustees over Ihe fOrth￿ming years indude: • Ensuring all member5 of the Congregation reL*fve the high lèvel of ¢8rè they requlre to provide them with the quality ol lrfe they have a right to expect.. The English Dominun Congregation (Stone) Charitable Fund S Tru¥tws' rnport Ye8r lo 31 March 2024 ACTIVIMES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES {￿ntInued) Care of the membern of the Congr•gatlon (continued) • Re￿&WIng the Chari￿s pfopgrlle8 used a$ community hous88 and a38essing thelr suitsbility as homes for the elderfy and frail. Those identrfied as belng unsurtable will b6 sold, adapted or utmised for oth8r purposes In line with the charrty'8 mi55ion', and • Enabling all members of the Congregallon lo continue vAth their indiwdual ministries for as long as p*)ssIb￿. Enabllng and •upportlng m•mborn In a varf•ty of rnllglous and charltable worl(• The religious and ch81ilable works of indmdual membors ol the Congregation can be divmled Into four princApal ar&a$," worship and prayer, the social and pastoral work of the sistèrs, the ownership and oporauon of a nursing home for the elderfy. and the ownership and operation of a school. Each of these is comidared in lum below: Worshlp andprnyer Members ol the Congrngalb)n a￿ committed lo personal and liturgical prayer which Is rellected in their daity limelable. They are obliged lo study in ordgr lo further their knowledge of the Christian failh. They gNe preference to the study of sa¢r9d scripture and Ihe le8ching of the Church, so that they in lum Can instruct and hglp others. Members oflhe Congregation also celebrale and pray wlth the wider community including people of other faiths. They do thi8 through ihe proVis￿n of spiritual guidance or by jusl being available lo listen in Ilme8 of need. Some $islers give lalks and guide retreats and praye¥ groups. Th9 sisters resP8Ct P8opkg of no lailh and try lo hglp Ihem in appropriate ways. The charity is commitled lo helping as many people 88 F*)ssible to come into contact with thè 8isler5 and also join them in worslip. Thoir fath, thereby strenglhen8d, is put into a¢tlon in number of a¢tivrtlO8 which inclLth'. Promoting the values and vlsion sel out in Gospel induding th& promotion of human dKJnty, leaching respecl of different culture$, working for a sod&ty based on ju8ll¢e and peace and encouraging care and respo¢t for all creation,. Offering prayer groups. gwing members ofthe publ￿ from all walks of life the opportunty lo escape thè stresses of everyday Irle for a short time and lake timg for quiet CyJnlemplat￿n and rellecaKJn and thg ch8nce to study and consider tho Gospel; Engaging in fflore worship through youth groups, summer $cl)ools elc.. Providing religiou$ insltu(*on and superwsion,. Prowding ret￿ats where those who attenLI t4n refiecl in a pèaceful alrnosphe￿ rooted in Gospel values,. and Praying with those who are house bound. sick or dying. The English Dominian Congregation (Slonel Charrtable Fund Tru81008' r•port Year to 31 March 2024 ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES Icontinuedl Enabllng and •upportlnu mwnbern In a variety of rellglous and ch•rItab￿ works (continued) Soclal andpastornl work (confynu8dJ Many mèmbers of the Congregath)n are invotved in various fomis of social or pastoral wo in different parts ol the country, including care ol the elderly 8nd people with special needs, support ol families. as well as chaplainw work in educ8tion81 and healthcare eslablishm8nts. Two sisters lecture in Theobgy. Scripture. & Ecumeni5rn al Blackfriars Stadium in Oxlord and Ajlan Hall Seminary in London and one sistèr teaches Latin al Blackfriars. Another sister teaches Lab"n online, and another leaches Theology. In particular, th& siste¥s aim lo h8lp Ihe poor in sooety regardlèss of their per50n81 background. faith, gender or individual circumstsnces. Prior to vacating thè convent on Stone. the sisters shared th& convent premises wrth div$rse grosJps'. e.g. groups ol pilgrims, Sl Vincent de Paul Society, and clubs lor Ihe elderty. W)en pU￿le events. 1.8. pilgrimages, con¢erts, talks, were arranged in the adiac•nl churth. the Congregation's c￿nvent pl￿1$8S were used for 8&rvlng refreshments. The following are examplos of Ihe 8oa31 and pastoral work undertaken by Indlvidual Bisler8.' Monthty talks on calholk teathing with refreshments and the opportunty lo pray wrth th sisters in the chapel., Twlce yearly days ol recolled￿n for women. wtth Inputs from the sisters. shatsd prayer. and the opportunity lor pe￿Onal player and reflection In the house, chapel and garden,. 'The Poustini8'.sell-¢ontained, sell-calering 0￿MMOdatIon in the garden in the C8mbridge house, for quiel day$ or short retrèats. providing a space for prayer and reflection in solitude with the opportunity lo join the sisters for prayer in their chapel,. Meeting$ and sooal events lor the First Communion ¢at8chlsts of the local parish. making use ol the house. chaptrl an(1 garden., A Dominican Spirituality Group for Women mel regulady for some months, ￿InIng Ihg sisters loc prayer in the chawl and then hawng a shared mgal and prayer and study together with one ol the sisters.. A men's Pfayer group mel in th& chapel in the Cambridge house for prayer and may do so again in the future.. The D￿eSan Prayer Listening Ministry Team held a me&ting and shared a meal in the Cambridgg house.. the day indLwJ8d Mass in the chapel celebrated by the Dioce88n Bishop., Individual sistèrs regularty welcome visitors inlo the CambrKlge house for one-tO-on& pastoral meeting5 arKI spiritual directM￿,. Isting the sick and housebound.. Leadership ol the Camed and Grfted Gnjup based 81 Blackfriars in Cambridge, which faalitales the discemment of among thè laty., Presenting pmgrammes on Radio Maria.. Thg English DominThn Congregation {Slonel Charitable Fund 7 Trustom. r•port Year lo 31 March 2024 ACTMnES, SPECIFIC OBJEcnvES AND RELEVANT POLICIES {continL￿dI Enabllng •nd •upportlng MOM￿11 in a of rellglous and charltabl• wo￿• Iconlinued) Soclal andP￿tor&I (continu&d) First cornmun￿n Prc4Jrammo in Iwl pari$hg$". Liaising with the Lay Dominicans of England and So)Iland 0$ Iha Accomp8nylng Religious Sister. Preaching lor the WO￿ Ibroadcasl homlli081', Jusll¢& and pe8c* work as a member of the Congregallon's and pga¢e commission, and also lor Dominican Sisters Europe., Pari$h catgchesis, IndudSng RCIA o)urses, o)nfimialion COUf8eB and talks on vocaibn and faTth development; Teaching and rna￿1ng for the Maryvale InstitLts. focusing on moral theology, splriluallty and s¢riplyrg'. Canon law work at the dK>c8san marriago tribunol.. Sw'ritual dif8Ction- Work as Act)ng Ch5￿81n and Assistsnl Chaplaln at Fisher House, the Roman Calhollc Chaplaincy lo the Universrty of Cambr¢dge', Giving serrnons as an ecJJmentil guest weather in varfous collgga chap818,' Leading rètraats al Douai Abbey and in Norwkh. The objective8 of the tru$lee8 in Ihis area Ind￿le.. Enabling 811 membern of Ihe Congregation lo ¢aThy out meaningfijl social and pa8loral work wfthin the community after assessing their skill$ and the needs ofthe local area.. Encouraging and motivating mèmbers lo work with and assl$l the poor. eltjety and marginalised; and herevei possible ensuring sisters are remunerated for such work by way of a sllpend to cover expenses. Such ino)me is donated lo the charity and thereby contributes lo defraying the cg)$ts and ensures that the charty rnay conlinue with this work a$ long as possible. Carn ofthè èlderfy Sl Mary's Home providw rnsiJentKql and nursing care fa￿litieS for the elderfy and Is adminislereil in a￿rdance wrth the charitable objects of The English Dominican Congregation (Slonel Charitable Fund 35 specified in the trust deed. The philosophy of care at the Home is to ensure a homely. 1ri8ndty and open atmosphere among residents and staff whilst maintaining the privao. dignty, rights and qu81ity of life of all re￿dents. The English Dominican Congregation (Stone) Charitable Fund 8 Tru•tMs' r•port Yearto 31 March 2024 ACTIVrnES. SPECIFIC OBJECTIVES AND RELEVANT POLICIES Icontinue¢Jl C•r• of th• Old•￿ leonlinL The Home provides both long-temi care and end of life caro to thosè suffering from terminal illness for both mewnbers of the general public and memb8r5 01 tho Congregation. There are 59 room8 al St Marfs, 42 wtth en-suite farAlilies and a number with separate sitting argas. Each room has a television kX)inl and is linked lo the call 5y5tem. All aroa$ of the Home ar& accessible by eitherstairs or1fft5. and restdent$ are encouraged lo lake meals in Ihg ¢Jining Other facilf¢ie$ indude a chapel, hairdressing salon. Conservatory and several lounge8. Th8 Home is set in large attractive garden$. whith house a summerhouse. In operallng Sl Mwys Home. the IN8tee8 8lm to: Prwde excelknt res*Jential and nurslng ￿Te to eldedy men and women. gnsurin9 that their needs arg met fulty and that they enjoy as high a quality ol life a3 possSble'. Employ hoh qualty stsff lo car& forthe elderly resident3 ensurlng th* all Such staff obtain the necessary qualifications and training needod for their work., Ensure that ihe Home meels the r￿Uirements ofthe Care Qualhy Commi$sion and that any recommendations arising from inspe¢tK)ns are acied upon quickty and effectNety.' and aintain the finanrAal ￿e￿rity of the Home throu9h careful budgeting and by sgttlng fee8 81 levels Ihal onsure Ihe Viability ol thè Home 18 not thrgalaned. Edu¢atlon st Rose's is located In StroLKI and h85 been reoJgni5ed as a Non-M8intalned Spea81isl sth￿l by the Oepartmenl lor Educalion since 1912. It is a Dominican foundation and tho phllo8ophy of Sl Rose'$15 slated in its Mission Statsmenl: Ils mls$ion is working together, lo help each person flourish educalionalty and splrilu81ty. to re8¢h th¢lr lull potential in a Christian community and bg1i8ve in their worth as children of God. And ils visitsn is lo bè an excep1￿nal Catholic specialisl sch¢)ol and college delivering the hvJhesl qualrty education. thèrapy and caie for children 8nd young adults, lo enable them to achieve their maximum Inde￿ndence and develop as valued members of 8ocb&ty. st Rose'B is highty re9arded for ils comprehenswe approach to the education and eare of children and young people with major physical disabilities and who often have additional $ual or hearing impairment and complex heatth noeds. st Ros&'s admits young people between the ages of2 and 25y8ars with thildren coming from 10 local aulhorities. In addli￿n to residential and day placemènts. short breaks are provided. There are currently 56 young people on roll. many with complex physical disabilty and heath needs, and there are 28 in the E3￿ Years department. which is an inlegf3led department with children who may or may not have additional needs. The children in the main school are nearfy all wheelthair users and many have cijmmunicatw)n drfficulues. St Rose's contains Earfy Years, Primary. Seujndary, 16-19, and Post-19 depariments. Local authorities pay the students. fee8 for Sl Rose's. Vigorous staps ￿ntin￿ to be L*en to make ￿Ving$ 3tKI efficienciès in th8 running c051s of St Rose's. The EnglÉsh Dominican Congregalion (Stone) Charitablè Fund Trugtg99' r•port Yearto 31 March 2024 ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES Iconlinued) Edu¢atlon Iconlinuedl Sl Rose's has ils Iherapy and support staff. and thg mulildisclplinary team of teacheTr. tutors, therapists, care assislants, and nurses all Work together lo provide the best leaching, therapy. and care for each individual student. There Is nursing cover on site 24 hours a day. R￿ular whgelch8ir and sling dini<% are held in School and College. which are also open I pupils from other $¢hools. St Ros¥'$ strive8 to give each 8tudent as much independenee and opportunty lor deats￿n making a8 Fossible, plaang great emphasis on hglping each individual student to develop their communication and mobility $knlls. 8$ il is through these skills that they can lake steps to achhwing greater inde￿ndence. Volunteer5ng Throughout the yoar. thg mombers ofthe Congreg8llon gave Ihelr lime lo assist th& poor and marginali￿￿ and Ihose in need. The m8jority of members rec8ive no finanrAal reward for this work which contributes lo the overnll achievement of tho chanty's obj&¢tivos. In addition, members are invow in admini%tering the work ol Ihg Congregation and charity - wrthoul their cnntribLrtion the charity would not b8 able to fvn¢t￿n 8$ effectivety or fulty as il does. Oelails ol Ihg aroa$ In which mgmb&rs gavg th&ir limg durfng the yoar are Shown In the tablg below. No ol Hourn Volunts8r¥ volunteered Nursing h¢)me ¢wn&8lling Gonernl pawh woth & eat8eh#a* Unlverslty chapl8lncy Adrninistration Hospital vortlng PAT therapy 4.200 350 4,700 750 250 550 16,1rM) 22 Grants, donations and BUPPOrt of mlsBionary work and mlnl8try Grants, donations and other payments in support ol missionary work and ministry 8re decided on by the trustees in ￿ns￿lIatIon with other members of the Congreg81ion 8$ appropriate. In the main. the charty supports thework oflhose organisations whose work iswilhin the objects ofthe charity, both in the Unrted Kingdom and overseas. However, the ch8rty does not regard itsew as 8 grant making entity and applications for grants and donations are not inwtad. ACHIEVEMENTS AND PERFORMANCE The paragraphs OLrttine brigfy thg chariiY¥ achthments during the year in each of its main actNities. Certain details have already been r￿rded in the eadier part of this report. Carp of the membern of the CongTryatlon During the year the tharty supported and enabjed its members lo continue to engage in 8 variety of ministries suo* as leaching and nursing. family counselling, working in hospital and unTversity chaplaincAes, working with youth and the horneless, visrting th8 sick and hous bound, faalitating study groups for peop￿ with speual educational negd$, and giving lectures and talks on a wide specarum of subiecas to a wide variety of peoplè. The English DOMIn￿an Congwation (Slonel Charitable Fund 10 TruJJt••s' rnport Year to 31 Marth 2024 ACHIEVEMENTS AND PERFORMANCE (continued) C*rn ol tho m•mb•rn of the Congreg•tlon {￿Intinued} Over the next few years. i¢ is inevrtabk that the cost of ¢8rlng for m&mb8fs will continue lo increase due lo the rising oxp¢nse of soc4al and dementia care. Worshlp and prayer Throughout the year the sisters ts)nllnued with their own private worship and thair spiritual development and training. ￿1 sisters attended retreats which prowded an opportunity for renewal and quiet conlemplaliw. Socbal and pa•tornl work Details ofthg many activities inwhith the sLslers are ongaged have already baon notgd above. While the trustees appreuate Ihe commttment and dgdication of the si51ors, they arg Vgry aware that over Ihe next several years, these actwilles wll diminish signnlcantly, duè lo th8 In￿eaSing agè profile. Th& trustees will continue to assist the si$ter$ in any way possible and will encourage them lo remain active and invofved for a8 long as possible. However, they will maintain a vigilant eye on 3islers who mighl want to slay in ministries whon they are really no nger ablo to cope. The Irus1￿$ wlll instead try to guide the8e sisters towards a 1888 dernanding. gent￿r ministry. C•rn of th• •ld?rty: St Marf• HoffvJ. Ston• Tho Registered Manager gt Sl Mary's is Natalie Dibble. Natats'o appointed in May 2018 hgvlng been a senKJr member of tha nursing tsam at st Marfs for ovor y8ar8. Sha18 passionato aboLrt the care ol the eklerty and hwhly committed to tho home, it$ staff and residents. The Home was inspefAetl by the Care Quality Commlsslon In D￿rnber 2023 and was rated 'Requlrg8 Improvemeny. The or￿p•¢I10n was prompted in part by an Incldenl following which residenl unfortunately died. The Incident was reported to all regul81ory bodiès, including the Care Qualty CommissKJn and their investigation indicated potential concems about the management of risk ol moving and handling which prompled the inspection. The inspection examined these risks bul found no eMdencE Ihat people We￿ at risk ol hami from this concem and following the inspection the C¢ynmiss¢on determined (hat Ihey would lakè no furtheraclion in response to the incident. The inspecb.on did idenlfy some minor environmental conc£ms prim8rity conceming hol radrators and pl￿S withoLrt appropriate restrictors which resulted in the 'Require8 Improvemonl. rating in the 'Safe' and 'Well-kd' domains, although Ihg report acknowledged Ihat all con¢em$ were swiftly rectrfied by the management leam. Whi151 the home retsSned its'outslanding. r81ing in 'RgsponsNe' and 'Good' in 'Caring' and 'Effective'. the overall raling wa$'Rgqulres Improvomenf. Despite Ihls. th8 report includpd many positive comments about Ille home.. People, relalwes, and stsff were oJnsi51entty complimèntary about the service, the registered manager and marwgement team. The curture of the home was open and inclusNe. The English Domink>n Congregation (Stone) Charitable Fund 11 Tru•tO8•' rnport Year lo 31 March 2024 ACHIEVEMENTS AND PERFORMANCE (continued) Car• of th• •ld•ty: St Marf• Hom•, Ston• {continuedl People lert well cared for aThJ ajl felt they coukl raise concams if they neeiled lo and fem confident these woukj be athjressed. People were SUp￿ted to praclise their faith il they wished to do 80. Staff feh equalty well supported and there were extra support mechanism$ in p18ce. Leaming was ¢n￿Uraged and shared, with staff empowernd lo be champkins of areas they were passionate about. The registered rnanaggr wa$ proa¢iNe and Invotved in many extemal organi8atlon$ and schemes in order to continuousty improve. Prole88lonals o)nflrmed tho ho￿ worked In partn8rshlp. The registered manager was fijlty awarè oftheir duty of oandour. The Iru8lees and managernenl leam were disappointe(I by the Outco￿ of thè inspection and ar8 commlttgd to gn$urtng that thg home rgtum8 lo a'Good' ralng at th9 ngxt inSpe¢t￿n. Thère are no longer any sisters a¢lNely Invo￿8d in the nursing care of f8sidents and a nurnbèr of sisters are now resident in the Home. Two ol the trnstges are member8 ofthe Management Board which also indudas th8 Rgglstered Manager and the Finance Manager and meel al regular intervals lo revivw the opefalknn and perfomiance of the Homg. The Chalrperson ol the Iruslees is also appointed as Safeguarding Officer for thè Home and ha5 attended a number of training courses and conferences to ensure thal the Home is fvlly compliant with all current18gislation. Over the course of the y9ar thg Homg provided c8re for 85 ehlerty residerts who lgqulred nufsing, rg$id8nli81, palliative or ￿pIte ¢aTe. O¢¢upancy levels during 2023r24 were slKJhlly hMJhèr than Ihe previous yèaf al 87.38%. This is still below pre-pandemic 18v8ls which 1$ )mmon throughout the seclor locally. The Tecent labour shortaga in the UK abated during the year and ihe Home ha5 not experienced signfficant staffing drffitJJrtie8. The incident referred lo above and the subsequent CQC inspeciion outcome did imp8cl upon 51aff morale and the Management Team have continued to opèrale an open-door policy so that staff ar8 able to discuss matters of Con￿M. The Management Team works to ensurè that each member ol staff is Valued and aPp￿181ed and awards 'spot apprec￿lon th8nkyou8' and periodK awards 3uth a3'Best Team PLgyerf voted for by the anliro $laff group. The English L)ominican Congregation IStr)nel Charitable Fund 12 Trust••s' rnport Year to 31 March 2024 ACHIEVEMENTS AND PERFORMANCE {conlinued) Corn of the elderly: St IAary'8 Hom•. Ston• Icontinuedl The Home ￿ntInueS to specialise in palliative or end of IFfe care and works dosely with two cal hospices and has staff who spaeAalise in palliative care. The Home strives to onsure that the ￿re providetl ensures that residents have a peacelul and ¢Jignrfied death suirounded by their love(1 ones rfpo55ibte and families are encouraged to Spend as much ts.me 38 wssible al the Home during this time. Relatives of re$i(Jenls who have died during the year frequendy express their Ihanks and gralrtude lor the high standard of cafe received and many make donations or bring in gifts for staff. There is an Actmlies Team within the Home whose foie Is lo create, plan, organise and co- ordinate a slimukting and devgk)wng a¢tiwty programme lo enhance the quality ol lrfe ofeach resident in the Home that will promole the hoatth. dignity and wellbeing ol each resident and enhance the quality of thèir lives. The aclivrties programme has now returned to pre- pandemic oper811on and the Activities Team, supported by carg staff, worked hard to ensurè that iesidents remain slimulaled and entertained whether in group adivilies or on a one.Io- one ba8is. An additional part-time membèr of aclNilies staff was recrltriled in early 2023 to strengthen th8 Team. Visiting entertaine￿ induded singers and pantomimè produ¢ts'ons, and relalNes are w8komed tojoin in wrfh a¢tNilies when vissting. There a￿ also regular r8lMJiou8 $eN¢os and a Summer and Christmas Fayie whK* were very w911 supported. The Home is comrnitted to a programme of o)ntinual refurbishment and bedroorns are relurbi8hed when occupancy lev8ls permit and communal areas as required. In addits'on lo bedroom refurbishments, the following were ¢ompleted in the yeaf.. The 81eel al the exlerior of the building was repalnled, togelhei wrth the exterior wall.. A new boiler was install8d'. • All mlnor issues nolad by CQC were address8d'. The flooring in the dining room was ￿p1aCad.. Addrtional signage was installed around the Home; All regulalory requiremgnts indudin9 a walei management programme. elg¢trf¢al lesllng and aS￿$t9$ management were ¢)Jmplied wrth. The Iruslees wish lo pul on reo)rd their appreaalion ol and gratitude lo all the staff for Ihelr outstanding contribution to Sl IAarf$. The Engl￿h Domini¢￿n Congregation Istonel Charitable Fund 13 TnMts••' rnport Yearto 31 March 2024 ACHIEVEMEIITS AND PERFORMANCE (continued) Education: St Ro••'• School During Ihe academic year 2023r24. St Ro88'8 had 93 students and young people frorn 10 Local Authorit￿$. Strnte91¢ Alm l.. Ex¢•ptloftal 1•ad•r&h￿ and man•g•ment of the s¢hool. ¢ollw and nursery G0Verr￿rS continue to support Ihe sthool by providing support and chal$8ng&. Govemors hove att8nd8d training and Link Governor wsits are schedukgd in for the year where possible. Quality assurance plans havg updated for •duco1ion ond re$idgntial argas. Training ￿ntInu8$ to be high on the agenda for all staff and a particular area of focus has been lo d&velop subject kadgrs as well 8$ mak8 uso of the expgrtisg In school and college by the delivery of in-house IralnirvJ. We continue to work dosely with our parents and have introduced a t8mily Saturday Club 80 that families can use the facilrtYè5 and meèt up 80¢ially. We have introduced a slaff loNm lo enctyjragè 8taff lo lake an active role in developments across all areas. We aro guided by robust safeguarding prin(yples and training with a great doal ol effort going into our earfy help offer. ensurlng lamilw feel supporte(l as much as posslble, Sts•tegi¢ Alm 2.. EK¢•Pt1onal￿¢•1lo￿ and out¢omes lorleamws a¢roM the nurnery. school and college The detailed aims. strategies and action3 towards tho oducatlon InitiatNOs can be lound In thg Developmenl Plan {SI Rosg's and Nursery) and tho QLtalrty Improvomgnt Plan (Sl Martln'sl. The Self A$se$sment Report (SARI and SèK Evalualion Fomi (SEF) rofloct Ihg 8trgngth8 of the nursery. sthool and college area of development. Sl Martin's Ofsted inspection took place in January 2023 where we remained qood and receNed a very positNe ieport from Otstsd. Sl Rose's inspoction took pla￿ In No¥8mbor 2023 wherg wo rom8ln good and a¢tbn polnts are being addressed. Nurse Numbers romain stoady in the nursery. however there are now fflore thikjren with additional needs who have My Pkqn or My Plan+ in place. Thg nursery staff support familie$ to complole papeThvork for education, tr*81th and care plans rf 8ppropii8tg. Thg nursgry 8¢ts 8$ a feeder to Sl Rose's School. The English Dorninwxn Congregation (Slonel Charitable Fund 14 Tru¥tw' report Year lo 31 March 2024 ACHIEVEMENTS AND PERFORMANCE (Continued) Educatlon: St Ro•e'• School Icy)ntinu&J) Strategic Alm 2.. &copdon•l edu¢alion and outcomes forl•arner4 •¢n￿$ the nurnèry. $ehool and colhge (conb"nu6d) Nu conlinu Nur89ry staff have dwoknped a oJrri¢)Jlum and assessment process sin¢* tho Otsted inspectK*n, gnd wil bo gmbeddod in the comlng year. Nursery staff work kn partmrship with otemal agenc40$. indudirwJ communty Iherapi3ts, the 0th4isory teathlng seMce arwj so(aal caro lo tha need8 of Ihe childwi ore met In an holistiG way. The nur8&ry manager attends the GloucesierJhlrg Earty Yoafs Fonjm a83 Ihe repres8ntalfve from a speclal sL*ool wrth a nur8èry class. Numbers have r18en slaadity thls yoar aNI the majority of students ha￿ met or gxceaded Ihebr targgts. Teachers ha￿ d￿￿Pa￿ ¢urrkwlum documonts and subject18ad8 arg belng aulgne*J. A Trarbsit￿ns Coordinator has been appointed and hgr role is lo $upport all tr4ns11ion8 In and out of St Rose's as wel as d8¥olopiNJ a cuThiculum for 8xperienco ofwork. parent survey $h¢y•MI 99.7% posithe fegdbaL Our etlm and valu¢8 c¥ntinug to bo a folxss for all that we do al St Ro80'8 and St Martin's ond we work with the Llwwway Partngrship and Cllfton Dioco80 to &nsure wg keep up to dale wlth devobpments. nNU The intent of Ihtr Pupll Premium strategy 81 Sl Rose'8 school Is lo enablo all students to hav equal access to a broad and baL8nced Curri￿luM. therapy and care. and to receiva and Ind￿idUall¥ed currrJJlum thal provide8 Strotch and challonge enabllng students to progress and reach their potentsl. Pupll Premium has bogn used lo wrchase rosourLYs. ￿rriCUluM support, equipment, Ihgrapy and care Bupport and speoalise advic8 roquired to enable eligibb students lo access au aTea8 of the curriculum. therapy and care in a way that Is adapted to their individual nggds. artin's Numbeis remain sto81ty and stLKlgnls cx)ntinue lo n￿ke wc*J progres5. Curriculum documents have de¥eh)ped ar￿ recording pap8￿ork has ba8n $implmgd. raducing tsachar workkjad. The Englksh DOrn￿￿n Congregation {Stone) Charitable Fund 15 TrugtO95' rnport Year to 31 March 2024 A Tran$lllon Coordinator has bg8n appointed, her ro￿ Is to 8UPPOrt all transitions in and out of St Martin's as WON as d•￿tr)p1n9 an exp8rience ofwofk programme for the stud&nts. ACHIEVEMENTS AND PERFORMANCE Iconfinuedl Educatton: St Ro•o'• School (cr￿￿nU9d) Strat•glc Alm 2." Exceptlonal educadon and oUt￿m•S lor leamorn across th• nur4ery. sehool and ¢ollege (continuod) Ma The parent survey $hfxwed 92% pts3iti¥o feedb8d(. A new support ngts¥ork for parents ha8 been devolopod. Slrnt•gl¢ Alm 3.. Excepllon•l th•rnpy *nd h•<h outeomos for l•ameKs •emss th• nursery. s¢hooland coll•g• Therapi8ls continue lo work dosetywrth educalion and care stsff lo support posilivo outcomes for all of our slud&nts. This 1$ in 8 variety of ways, Including face to face contacl wlth 8ludenls, ndirect work to support students acros5 Ihe waking day, close work with staff teams, direct work fam11￿$ and jolnt worting with NHS profe88ionals. All the therapy team ¢onlTlbthe to the induction and ongoln9 training programmo for slafl, developing skill and expgrtlse fw our CoM￿eX student8. The therapy team also work wilh axtemal agencios wilh regard lo cg)mmunicats'on and equipment need8. Thgr¥py contlnuèy lo be eM￿ddentrlla Risk AssesSll￿Trt • Risk Assessments The English Dominican Congregation (Stone) charrtab￿ Fund 17 Tru¥tws' r•port Year lo 31 March 2024 ACHIEVEMENTS AND PERFORMANCE {oJntinuedl Eduutlon: St Ro••'• School l¢ontinu&Jl Fltsod- Jun• 2023 St Roses SLtffered a ljood in June 2023 and the remedial works t￿k p18¢9 involwng new fl￿r, tiling, Iloortng and ¢urtain$ by different contractors and a dean up Company. The total daim for the flood relurbishment works was £186.115. nel of the policy exce55. volunt•¢r￿Teffllst$ Wor Work continues with developing and nurturing reLat￿nshIpS with volunla8rs from a number of ¢)Jmpanies. As a resun during the year under review, ckssrooms in school and four areas In St Martins were painl8d and d8c4yrated. 8ulldlng PrnJe¢t Project 2030 remains ongoing wth pl8nning perrnission being sought for the dev81opmgnt of Sl Martins. Funding remains ongoing in order lor thg proie¢i to ￿MmencO. FINANCIAL REVIEW R••ults for th• yoar A summary ofthe yea¢$ rnsulls can be found on paga 36 of Ihls report and *ccounls. Tot81 income for tho year w88 £8.409,2e612023- £7,281,821). The largest proportion of the charitYs income arises from the re5identsal and nursing care home at Stone, Staffordshlre and the school in Stroud. £2,875,98412023-£2,357,8151 of the income related lo fee income lof St Mary'$ Homg. Stone and ch8rg8$ rglated to St Rose'$ Sc4)ool amounted lo £3,592,9)8 12023 - £3.074,5861. The School also received gr8nl fvnding from the Departrnenl for Educalion during the year 01 £941.08212023- £815,525). Donaiions, legaaes and similar in￿rne continue to be important $ource$ of Income one of lh9 larggst compon8nts being the saLgri8$ and pensions of indNidual rnembers of the Congregation received urHJer Grt Ard (x Deed of Covenant. During the year ended 31 March 2024, these salaries and pension5 amounted to £336,53512023 - £442.5981. Expenditure for the year lotalled £8.781,047 (2023 ~ £8.215.2S£I. £3,131,357 12023 £2,972,006) of thi8 relaled lo the operating expenditute of Sl Ma￿S Hom&. Stone. Expgndilure in connec1￿￿ wilh Ihe operat￿n of St Rose's School amountsd to £4,776,596 12023- £4,222.9521. Expenditure on maintaining the Sisters and enabling them lo carry Out their work during the year amounted lo £825.74512023- £946.0791. Premises expenditure ojntinues to be high. as properties grow older and amerdlions beo)me necessary to faalitate the needs of elderly sisters. The Englk8h Dominiran Congregation (Stone} Charita￿e Fund 18 Truste￿. rnport Year lo 31 Man* 2024 FINANCIAL REVIEW Icontinuedl Rosults for th• year Icontinued) Net ex￿ndrtUre befo￿ other gains and losses for the year amountod to £351,78112023- net expenditure of £933,475). Investment gain8 wei8 £161,241 12023-1oss&s of £609,681) and thè net ex￿nI￿(￿re and decrease in funds for the year. therefore. amounted to £190.540 12023- nel expenditure and deL¥e8se in funds £1.543,1￿). Fundrnislng The Home has a FundraisitvJ Committee whth comprises current and former members of stsff. and 8 number of relatives. both past and present. FLtndraising recommenced fvlly in the yearlollowing Ihe ènd of thè pandem￿. Fundraising is all undertaken in-house and tha Home does not use any prOf&￿￿)nal fundraisers or ¢ommerclal partlcipators. Sl Rose's ha8 an established fiJndrai8in9 group, Th¢ Ffionds ofst Rosg's, which has rogularfy raised funds for equipmenl and improved facyliti'es for the students. In recent years the trust￿ and govemors agreed for the Frignds of St Ro88'$ to be a separate entity. The FrfendB of Sl RoB8'5 have ￿a￿ur0d the tru$lg99 and govornors that th8y will nol undertako any adfvity wh￿h Is al variance with thg Catholk traditk*n of Sl Ros&'s or which will damage its reputation. The charty and each of it5 ￿nstitue￿I parts aim lo athleve bèst pr8eti¢e in thè way in whth they communicate with donrxs and olher $upporters. Carg is taken with both the tone of communications and the accuracy of data lo minimise the pressu￿$ on supporters. 8esl practke Is applied lo ptolecl supporters. dats. The charity never 8011$ dats. it n8v8r swap8 data and 8nsur&s that communication preferences can be changed al any time. With the coption of 81gnrfKant ap￿91$. for examp19s al St Ro$g's. the charity manages its own ndraising actNities and does not employ the 8eThke8 ol Profe88lonal Fundralsers. No complaints have been receNed by Ihe charity, including the Home and the School, in relation to fundraising xtiwties. Inv•8tm•nt pollcy The Charity's inveslmenls comprfs& malnty pooleil fvnds managed by BiackRock Invastmgnt Management IUKI Limited. The Iiu51ee5 are ol the opinion that thi5 enable5 the portfolio lo Strongly reflect the Catholic ethos ofthe thanty. The ethical policy predudes investment in any (yjmpany which. after ro880nable enquiry, dearfy has signfficant profits from an activity which is c(Jntrary to Ihe objective50tlhe Christian Church. There are no reslricknns on the prywer to invest. The investment strategy is sel by the trustees and tskes into account income requirgmenls, the risk profile and the investment managerf3 ￿e￿ of the market prospects in the rnedium terni. The perfDrrnarKe of the port1￿10 and the tharity's inveBtment stratw are reyiewed annual by the trustees. The English Dominican CongrBgalion (Stone) Charitable Fund 19 TruBt••s' rnport Year to 31 March 2024 FINANCIAL REVIEW Icontinued) Inveskn•nt ￿rtOM?ane• Tha investment managers con11n￿d to inNwl in accorylan¢e wrth tho trustèes. investment poli¢y Set earlier in thi5 Tepori. Further detsils of th8 Investment portfolio are detailed In note 14 to the attached accounts. The mahor part of ￿ chafW$ Ilsled In￿Simon￿ are rnana￿d by BlackRo¢k Investment Managemenl IUK) Limtted. The investments had a market value of £5,910.664 as al 31 Mar¢h 2024 12023- £5.749.4231. Nttl gains on the revaluation and dlsposal of investments amounted lo £161,241 12023 - losses of £609,681). Investment income on those listed inve8lmenls was £185,21912023- £182,39n. The tfuslees ￿ntinUe lo lake a knng-lerm view and b&lim thelr inve81ment poliq remalns appropriate. RH•N•• poll¢y Thè charity carrios out 8 dNerse range of actNrties and is responslbl8 lor the care and support of sisters whose average age Is Inueasing and whose ne8ds a￿ changing. The Iwslees have examined the requirement for free reserves i.e. those unreslricled lunds not invested in tangibl8 fixed assets. d8signalfjd for spg¢lfic purposes or othe￿198 committod. The Iru$lg85 c¥Jnsldgr thal. gfven the natur• of the c*aritl5 wo￿, Ihglgvel of free merve8 should be approximalety equr¥al8nl to belween six and monlh6' expenditure al any one lime. The Irustees are of the opinion that this prowijes suffirAent I￿xIbIlitY to COV9r lemporary shortfalls in incoming resources and will allow the charity lo cope and respond lo unforeseen amgrg8rKl&s whi181 $p8afic aclb)n plan8 are implem8nled. Flnanclal po•ltlon The balance she&l comprises tangible fixed assets 01 £9,420,615 12023 - £9,C67,5621, Investments of £5,910.664 12023 £5,749,423>, programrne related inve8lmenls of £2,633,69012023 - £2,633,6￿) arKt net current assets of £3,849,542 {2023- £4,554.3781 whlch ara reprèsented by lotsl fvnds of £21,814.51112023~ £22,CQ5,0511. These funds Include pemanent endowment 01 £12,830 (2023 - £12,830). These fvnds are "capitaf and fflusl be hold indefinrtoty by thg charity. Also included in total fijnds is an amount of £105.332 12023- £104,376) which is restricted. These monies have been donated, and their use restricted lo. speryfic purposes. Full d8lalls of these r&slricted fund$ can be found in note 18 to the a0￿UnIS together with an analysis of movements in Ihe year. Funds totalling £9,420.615 12ff23 - £9,C67.5621 have been set a8ide by the truste8S 8$ a tangib￿ fixed assets fvnd representing the nel book value of those tangible ffixed assets held as part of unrèstrict8d funds. A was made to separate this fund from the general funds of the charty in recogn((￿￿ of the fact that the tangible fNed assets li.e. o$lensibty the charty's freehold properties) are essenlial lo the day-t¢>day work of the charity and as such their value should not be regarded as fvnds that would b8 reall$able with ease in order to meet future conlingencies. The English DomIn￿an Congregation (Stone) Charitable Fund 20 Trust•••' r•port Year to 31 March 2024 FINANCIAL REVIEW Icontinuedl Finan¢lal posftlon Iconb"nuedl A further £10.753,17912023- £10.805.9741 has been designated by the trustee5 for various purposes. This figure indudes £5,CQO.tY)0 {2023- £5.0O0.D￿l to provide for the sisters in their retirement. Full details of Ihe deS￿nated fuThJs can be found in note 20 to the accounts together wth an anatysi$ of movements in the year. General funds (or free reserves) of the charity at 31 March 2024 1013118d £1,522,55512023- £2,014,309). The level of free reswves at 31 March 2024 falls short of the figure required by the above reseNes policy based on expendrture in¢urred in 2023124. However, over the past couple of years there have been costs Ihal over the long tem 8ro not expected to recur. Therefofe. the trustees are (x)ntenl with the level of free reserves al 31 March 2024 and elieve that they are adequate but not ex¢essNe. Tax •x•mptlons The benefiuaries of th8 work of t￿ charity have the assurance Ihal all of the in￿1￿8 ol the charty must be applied for charitabl& purposes In frjrthgrance of th& charity's oty'ect of fiJrtharin9 the Roman cathol￿ faith. The charrty enjoys lax exemption on incorne from Its activities and on its investment In￿M8 and gains prowded these are appl*1 for rts charitable alms. As a chaTty. it is also entiued to a reduction of 80% on bU$￿eSS rates on the propety it occup￿8 for Ils thaiilabl& purposes. The financial bonefrts Tttoived as a resutt of these eXeMpl￿nS are all applied for the purpose8 of furthering tho Roman Calh¢4￿ failh by enabling and supporting the sisters to live out their lalth and to pul that faith into practice through a wide vari¥ty of religious and other Charftabte works, induding the opgration of a nursing home and a sd)ool. The naturn of the tharity's octp4rtiBs mganj Ihal It ￿ Unab￿ to roclglm VAT Input tsx on costs as it is exompl for VAT purposes. The chanty also pays tax as an employer through the national insurance conlribub.ons rfd makes. The charity brings very 8vbstanlial beneffts to the Tesldents in ils nursing home. tha pupils in the School. the lo¢al communities and S￿￿ty in general through the swal and pastoral work provided by sislets (often on a voluntary basis). the care services offered 8nd the education services prowded. In addrtion, the charity creates oclal assets withoLrt cost lo th8 Exchequer through thg school'3 Ilnks with the wlder communty. the nursing home'8 hnks wrth older paople wtthin tho relevant communlty and through the voluntsry work ￿rried out by the sisters. FUTURE PLANS In March 2024 the sislws vacat&J the srte at Slone and, having obtained planning pemiis5ion lo develop the site. have marketed the srte for sale erther as a whole or as separate parts. They have ac£epled an offer from a developer who intends to develop the site to provide senior Ilwng accommodation and lo build a new ¢are home. Thi$ will resuh in St Mary's Hom being run by a different organisalion but will ensure a legacy of care by the Congregation on the site. Whilst the detai15 of the sale arè finalised, the trustees remain cLimmitted to St Mary's Home and ils widents arHI slaff. The English DoMin￿n Congregats'on {Slonel Charitable Fund 21 Trust••s' r•port Year lo 31 March 2024 FUTURE PLANS (continl￿dI As part of the plan to vacatè th& sitg, the leasehokl of a Ilat in Stone was purchased at a cost of £179.000 which will providè aecommodatson for the $islers who will remain in Stone nd ensuro tho Congrggatlon'$ pfes•ncg for as long as p0$5ibk8. Like many schools Sl Rosg'$ finances are challgnging and meeting5 will bo held in thè new year to address Ihe budget deficit. 11 Continl￿ lo offer high quality education 8nd care for young people with complex need5 and demands lor places are increasing whkh inevilab has had an impact on the staffing RISK MANAGEMENT In line with the T•quiremenl for tru51ees lo undertakg a risk assessment exèrcise and rèport on the same in their annual report. thè trustees have looked al the risks the COng￿gatIon cucrentty faces In Britain and have reviewad the measures already in place, Of needing lo be put In place, lo deal wilh ihem. The truslees h8v8 idonlffied fiv8 maln areas where riBks may • Govemance and managemenL' Operatlonal; • Financlgl., • RepLrtationo1'. • Laws, regulation$, gxtornal a￿1 environment. Gov•man¢• •nd man*gem•nt looks al tho risk oflhe Congregalion. and hence the charity, suffering from a lack of diTeclion. and al Ihe $kAl8 and training of rts mombers and staff, and the good use ol its iesources. Op•r•tional looks al the risks Inhergnt in the charit*s acti¥thios Indudln9 the operalbjn ol Its nursing home and its s¢hool the members engaging in in8ppropriale activities, the unsuitabilty ol buildin9$, poor mainlenanee. shortcomings in the seryices prowded, dfflcullies wilh stsff. poor heaAh and safety. lack ofa disaslèr le￿l¥ery poliq, etc. Fln8n¢lal risks indude those arising as o resull of ptr)r budgetary control, inappropriate spending, poor aco)unting. inappropriatg Énveslmenl policies. etc. Reputatlonal I[￿kS al posslble damag9 to the Congregation'$ andlor charws teputatson. Laws. rngulatlons, •xtsmal •nd environment kjoks al the effects of govemment poltjes, the ojnsequences of non-complian¢e with laws and regulations and poor risk assessm&nl in tha chari1￿$ care home and sch(y)l. Hawng a55essed the major risks to which the ¢*arity is exposed, thè ¢ruslees belteve that by monttoring reserve levels, by ensuring (xjnttols exist over key financial systems, and by examining the operab.onal and business risks faced by the chartty, they have eslabli8hed effective systems to mitigale those risks. The English Dominican Congregation {Slonel Charitable Fund 22 Truslo•8' rnport Year to 31 March 2024 RISK MANAGEMENT Iconlinuedl Th& key risks for the charity, as wjenlffied by the trustees. are described below together with the principal ways in which they are mitigated.. An anatysisofth8 ag8 profije ofthe members ofthe cOngregat￿n shows that Iheaverage age al 31 Marth 2024 wa$ 76 y&ars. Th8 trustees are aware that there is both a moral and legal obligatKJn to care for the older members. None of the sisters havè resoure8$ oftheir own as all eamings, pensions ar￿ othei income have been donated to the charty under a Gift Aid ex)mpliant Deed of Covenanl. As ihe age profile increase5. $0 loo does th8 need to provide Ca￿ for the sisters. Key elements ofthe management oflhis risk are.. lal ensuring that the tharity has the availaw finanual rex)urces to financ£ this care both now and in Ihe yeafs ahead by setting aside assets in a de$ignaled fvnd, the value of which has been based on actuarial princ4ples', and Ibl ensuring that proce8s88 are In place lo revi￿ regularty thè minislries and needs of indNidual sisters encouraging those who nee(1 il lo tske on less demanding ministries and for identfying those who need extra care and help. Op8fationalty the charty woJks wrfti thild￿n and vulnerable adults including oldar people. Th8 Iru$loos recognise the absolute necessity of ènsuring the Pfolectlon and safety of all those th81 the charity serves. This means that sisters engaged in any ministry in Great Britain and all Ihosg who work or volunteer for the charity and work with children or vulnerable adutts musl obtain dearanc* from the Disclosure and Barring Service {DBSI. The same appI￿S for rel8vanl Staff employed by Sl Mary's Homo And Sl Rose'$ School. The trustees are committed lo implemenling Ihe pollcies of the Catholio Safeguarding Standards Agency ICSSAI and the Religiou5 Life Saleguarding Servie8 IRLSSI. One of the sisters Is responslblg for gnsuring this policy is adhered lo in respect lo all sisters, employees and voluntee￿. In ad¢Jition. a Safeguarding iyficer is nominated at bolh th& Home and Ihe School operaled by the charty. Safeguarding training Is compulsory for all staff. The charity's prinopal asset c¥)mprise8 Ilsle(I Inveslmenls, Ihg value of whlch 18 dependent on movemenls in UK and world sloo* markots. The invèstments managod by ￿putable Inveslm8nt managers who adhere lo a policy agreed by the Injslees. The perfomanr* ol the portfolK* is monilored and ihe investment strategy is assessed Tegularfy lo ensure il remains appropriate lo the charity's ne8ds - both now and in the fvture. The trustees have ojnsideredlhe long-temi future of the site al Stone and tho associated risks arè ￿Ing mitigated through carefvl d•S￿Mment and planning and by 8eekn.ng detailed professional 8dvKx in re$pKt lo all of th& potential sale. Home The major risks for the Home are as fdlryws: • Occupancy ￿velS conlinue lo be lower than pre-pandemic I&￿Is. This contsnues lo be carefulty monitored and staffing levels a￿ tighlty (y)ntrolled lo ensure the home continues to be ¥iable. The English Domintcan Congregalion {Stonel Charitable Fund 23 Tr￿18￿, rnport Year lo 31 March 2024 RISK MANAGEMENT [C￿tinued) Home Iconlinuedl • The planned developed of Ihe site has caused somg con¢em among staff. however the Trustees and Managemenl Team will continue to 8nsur& that staff 8r& informed 8nd updated as IreqU￿tlY as possible. • The trustees are ¢onsKl&ring the bn9-lem lulure of the site al Stone and the assocAal8d risks a￿ being mrtigated through ¢arolul discemment and planning and by seekn'ng detailed professional advke in ￿SpeCt to all a#peo*s of the potential proJ8ct. School The major risks IN Iho School is 8$ follw.. • St Ro8¢'818 a key fronl Iln8 player. working In partnership wrth Dthor thldren's s8￿c•S. All Governors, staff and volunteers have a oisckJsu￿ and Barring Sgrvicè check. Staff musl be aware ol local polKies and procedures thal must be followed and which are under tho direction of tha Local Safeguarding Chlklrgn'$ Board. The s8f8guardin9 poficy alms to outuno tho role that St Ro$e'8 has, procodure8 that $laff should lollow, and the guidanca i$$ued on student protection generally. All staff musl ensure Ihal th6 needs arKI safety ol the students are al the for8fronl ol their practice. In their daY-t￿daY contact with indi¥Mdual sludents, teachers and othèr staff are particularfy well placed lo observe outward spans of abuse, thanges in b&havlourorlallurg lo deveK)p. Long lgfm forecasting of sludgnt numbors ¢￿tInUeS lo bg diffi￿￿ bul the re¢enl nurnber of new $ludenl8 ha$ begn encouraging. G0￿mOr5 are mindful of the conlinulng need lo raise the profile ol the organi$ation and lo malntsin and further enhancè good working relalionships wrth local authorrts&s. • Govemors contsnue to work lo signfficanlly improve the existin9 bulldings and are progressing lowards a Ihrg9 ygar dèvelopment plan for buildings. Any planned work will be undertaken once l￿dget is allocated and received. This indudes allocation for short, medium and long 18rn work in a suslainabb model lo build reserva18vel8. GOVERNANCE. STRUCTURE AND MANAGEMENT Govomanc• In t8mis ofcanon law, the Congregalion is govemed by Ihg Prioress General and hei General Counol in Slone. They are elected every six years al a General Chapter or meeting of all mernbers of the Congregation. Members of the General Council are chosen fortheir personal qualf(ies, their understanding and experience of the mintstries of thè sisters throughout the COngregath￿. and to secure a good sknlls mix. Each community in the Congregation is govemed by a local Prioress. who is elected by the local community and approved by the Prioress General and her Couwl. The pri0￿$5 General is requiTed lo wsit each cornmunity al least once a year and throughout the year there is a syslern of accountabilrty operational throughoLrt the Congregation to ensure that the Prioress General and her Councillors afg aware of the pTo9ress and development of the ministries carried out by the Sislets of the Congregalion. Tho English Domin￿n Congregation (Stone) Charitable Fund 24 Tn￿ta•s, rnport Yèar to 31 March 2024 GOVERNANCE. STRUCTURE AND MANAGEMENT Icontinuedl Governance {o)nlinuedl In ternis of Ciwl law. the charity bs govemed by a trust deod dat&d 13 July 1976 and is a registered charity- Charty Registration No. 271922. The trustees of the charity are the five mombers oflhe General Counial. As all Iwsleos are member5 oflhe Congreg8lion, they have a detailed knowledge of the work of the charity and ol ils structure. On being appointed, new trustees are Tequired to spend time with those Irustees leaving office. They also meet with the Congr89atK>n'$ leg81, ac¢ountlng, investment and property advisws to obtain a full brfeflng of thdi rosponsibilrtits and Ihe dwrity's positictn. Tru8teeB The names of the trustees who served during the year are set out as part of the reference and adminislratNe details on page 1 of this annual report and acLounts and brief biographical delams on each of the trustees Is 9S¥en below. Stst¢rAlargarnt f•rn¥# Bllllngton O.P(ChalrP•r40n of th• T￿$t￿￿) App¢ynted 4 August 2007 and Tr￿pP￿nIed 4 Augu812013 and 4 August 2019 Sister Teresa was bom in StokewoTrTrenl and received her secondary education from the Dominun Sisteis. Shg qUalif￿d as a chartered physiolherapist in 1965 and worked in distr￿1 ge￿ra1 hospilal and also treated professional swrtsmen. Sh8joln8d th8 Congregatton in 1968 and after formation worke*J in Sl Rose's Special School in Slroud as a Pae(liatfiC Phy$iolh¢rapisl gaining fvrther post graduate qualifications. She qualified a8 a doctor in 1988 after trainin9 In 8ri$lol and after house officer posts in Bristol and Gloucester specialised in paediatri¢5. She thanged specialities lo general practice and qualified as a member ofthe Royal College ofGeneral Pwtith)nor$ in 2(hJO. After many happy and fuffilling years In general piacb.ce she has now retired. Sh9 bwme 8 Iruslee In 2007,was rè-alected in 2013 and was elected Prioress General of the Congregation lor a ttmi ol office of Six yèar8 in 2019. She a Governor of Sl Rose. School and a member ofthe Managgm8nl Board of Sl Mary's Home. She also serves on the selection commrttee for seminarians in the Clrfton Diocese. Retjrement has also given har time to purs(re fvrther study. Her inleresls indude politic5 and economics and all 5POrt except boxing and wrestling as she dislikes seeing people hu￿.ng each other. She has renewed herchildhood interest in the piano and has begun to teach hgrsèm. SlsterMaryJulle Alves Appointed 4 Augusl 2013 and re-apt￿nI8d 4 Augusl 2019 Sister Mary Julitr was bom on 3 Aw"1 1944. in Ptsrthc￿, South Wales. Shtr spent her chijdhood in Wales. Scotland and England where she easity absorbed the dialects of each ojunty. Sister Mary Julie entered the Congregalion from Glasgow in 1963 and made her profession in 1964. The English Dominican Congregation (Slonel Charitable Fund 25 TrustBes' rnport Yearto 31 MaTch 2024 GOVERNANCE. STRUCTURE AND MANAGEMEIIT {conbnu&d) Truslms Icontlnuedl SisterAlary Julie Alves(confr'nued) In 1967, Sister Jul￿ began her training as a Home E0)nom￿S Teacher at Digby Stuart col￿ge. London, wth supporting courses being Sou'al Sludies and Divinity. Following her training in 1970 shè taughl Homè Economics and Religious Education IRE) lo young people for 40 years in main stream s8Ctor schools in Stoke on Trent and Birrningharn and then in SFrfial EducatKJn in the Congregation's 8th001 in Stroud where she coordinated the Homo Economics and RE department5. The years In educal•)n were intersptrrsed with further training wilh the Samaritans and O￿lse$ linked with lexhing children wilh sp8c4al neods induding an A(fvance)unting Prsc*cel. The law applKable to charIt￿S in ErvJland and Wa1è8 requires Ihe trustees lo prepare unls for each financAal year which give a true and fair view of the state of affairs of the charty and ol the income and expenditure of ihe tharty lor that pariod. In preparing these a￿unIs. the Iruslees are required to.. • Selecl suitable 3￿C￿JntirVj pol￿1eS aThJ then appty them tsjnsistently: • ob8erve the methods and prinwles in Accounting and Reporting by Charitlgs.. St8lernenl of Recornmendedgy rg$pon$tblThty for Sl Ma￿5 Homg in Stone I￿3 with the Rogislored Managgr. Management reporting lines within the Home are dearty defined and the Mana9emenl Board tsjmprises The Manager,. Th& Finance Manager; The Prforess General and th6 Prioress of Stone who meg1 regularty lo discuss any issues that may arise. The day-to-day respons*Jilty for St Rose's School I￿￿[porating Sl Marfn'81 Is delegated lo lh8 Head Tea¢hor and the Leadership Management Team. They are support8d by a highly dedicated team of t&achers, therapists. corgrs, domestic and derical staff and work clos8ly with the Board of Governors. Two of the Iruslees are a180 m8mbern of th8 Schoof8 Board of Governors. Key mana9grnont p•rnonnel The Iruslees consider that ttrw, logelher with th8 Managomenl 8oard ol th8 Homè and Leadership Management Team ofthe School ￿mprISe Ihe key management ofthe charrty In charge of dlrectlng c&)ntrdllng. wnnkng and operating the charity on a day-to-day bag58. I Iruslees are membern of the Congregation and a8 such their Ipling and personal costs are borne by the charty. Hvwever, they receive no reffluneration of exp9nses for their 8ervices as trustees or mombers ol key managemenl. Wth regards to the Home, pay ol the Ragiste￿o Mana9or and the Finance Manager ar8 iewed annualty bylhe remaining members ofthe Management Board {who are all trustees) and is nom)ally increased in accordance wrth average earnings and also b8￿h-Marked wtth similar ro￿8 lo ènsure that the remuneration set is fair and not o(rt of line with that generally paid. h regards to the School, the remuneration of key managtrmenl personnel is set by the Goveming Body. Note is tsken of markèt ￿)ndrtIOn$, national and bcal pay scales and levels of perfonnance. The Principal and VI￿ Prinopal have had an annual perlomance rewew, Whe￿ their targets are ag{eedl￿WeWed with a panel of Governors and the Strateg Imwovement Partner (appointed by the fvll Goveming Body). The ErwJli5h Dominican Congregation (Stone) Char¥tabl8 Fund 30 Trustso¥J' rpport Year to 31 Marth 2024 GOVERNANCE. STRUCTURE AMD hlANAGEMENT {continuedl Working other oryanisations The Charity works closety with a number ofotherch8rilie$ and public bodies which work in the fields of education and ol prowding care lo vulnerable and the elderly, Working 10gelh&r WTth other charrties and public bodies enhances ￿mmunICation and undeT5tanding. thus enabling SerV￿S to be provided mor& effioenlty and effectively and avoiding duplication of effort. Examples ol the organisal¥)n$ with which the charity ha$ Gooperaled during the year are 8$ follows.. • Roman Cathotic Dioceses of Birmingham. Clilton and East Anglia., • Care Quality Commisston.. Gloucestgrshiro County Council: • Sloke-on-Trenl Cty Councll.. • Slaffordshirè County Counol. EMPLOYEES. VOLUNTEERS AND MEMBERS OF THE CONGREGATION Th& trustees wish lo record their recognition of the professionalism and CAJmrnilmenl of all thelr staff. volunlggrs and the individual member$ of Ihe Congregation. Their dedication and positive 8PPt08ch is very muth 8ppre¢ialed. Signed on beham ol th8 trustees.. Ém(94o~ Chalr of Trustees Approved by the trusI￿S on.. io Zcfr The English DominKan Congregation {Stonel Chariiabie Fund 31 Ind•p•nd•nt audllorfs rnport 31 Marth 2024 Ind•p•ndont 4udllof• rnport ID th• I￿*t0￿ of Th• EThgllsh Domlnl¢an Congrngatlon Istonel Charltable Fund Oplnlon We have audit8(l the a￿Unts of The English Oofflinlcan Congregation (Stone) Charitab Fund Ilho 'L*ariW for the year ended 31 March 2024 which comprise tt)e 51alemenl of finanaal actNilies, the balance sheel. the statements of cash flows, the principal ac￿Unts.ng polici85 and the noles lo the accounts. The financial ￿￿rtIng framework that has been applied in their preparation is applicablg kw and United ￿ngdorn AcDJuntsng Standards, Induding Finanoal R&porting Standard 102 Flnandal Reporting Standard applrAbl8 In Ihe UK and ReputrAr ol Ir4land' (United lfjngdom Generally Accepted AcLounting Practice). In our opinion. th8 aLxounls: • glve a irue and fal w6w oflhe stats ofthe charlty'8 affalTS a8 at 31 March 2024 and 01118 inojffle and exp8ndrture lor lh8 year thon 8n09(1; • have been properly prepared in o¢¢ordanc4 wlth United Klngdom Generalty Accepted Accountrng Pr¥Aice." • have been prepared in accordance with the requirements of the Charillg$ Acl 2011. Ba•ls for opSnlon We conducted our audit in accordance with Inlemalional Standards on Auditing IUKI IISAS IUKII and appluble law. Our responsibilities under those standards are further descrlbed in the auditorfs respon8t*ilrfles lor th& audit of the a(zounts Soctlon of our r8POrt. We are independent of Ihe charity in a¢¢ordan¢e with the elhical requirements th81 are relev8nt lo our 8udit of the a￿OUnts in the UK including the FRC'S Ethul Stgndard, and we have fiJlfill8d our other ethical ￿SponSIbl1itieS in accordance with these requirernenls. We believe that the audit 8￿dence wg have obtalngd 1$ $uffio"ent and appropriate lo provide a basis for our opinlon. Con¢lu•ion¥J rel*ting to going ¢on¢•m In auditing the alxounls. we have conduded that the trusteeS' Uso of Ihg gokng o)ncem b88iS ol accountsng in the preparaiion of the accounts is appropriate. Based on th8 work we have perfomied. we have not identified any malerial uncErtainlios relaliny lo events or ￿nditionS that. indNidualty or ojllectivety, may cast signfficant doubl on the chariV3 ability lo continue as a going concem for a period of at lèast twelve months from when the a￿untS are aulhorised for issue. Our responsibililies and the responsibilities of thg tnJ$lees With respect lo going concern Arè described in the relevanl sections of Ihis report. Other Informatit)n Thè other inform8b.on ¢x>mprises the information induded in the Annual Report and Accounts, other than the accounts and our auditorfs report thereon. The trusteès are Fe$ponsible for the other information contained within the annual report. Our opinion on the aC￿UnIS does not o)verthe other inf0m￿tIOn and we do not express any fomi of83surance ojndusion thereon. Tho English Dominican Congregation ISton&) Charitable Fund 32 Independ•nt audltorfs report 31 Ma￿h 2024 Other Information Icontinuedl Our responsibillty lo read the other inforrnat*Jn and. in doing $0. eonsider whether the other informat*Jn is materialty inconsistent with the accounts or our knowledge obtained in the rse of the audrdor otherwise appèars to be materially missiated. Ifwe identfy such material ino)nsislenaes or apparent material misstatements. we are required lo deltrming whether this gives rise lo a m8leriaJ misstatement in the ac¢J)unts themselves. If. based on the work we have performed. we ¢ondude that there is a matorial misstatement of this other lnlormat￿n. we are required to repJrt Ihal fact. W8 have nothlng lo report in this regard. Mattern on whl¢h wo arn required to report by •xc•ptlon In the lighl of the knowle(Ige and understanding of the charity and its environrnenl obl8Sned in the course of tha audit. we have not klentifiad material fflisstalemonts in tho trustees. report. We have nolhlng lo report in respect ol the folkh¥ing matters in reLg1ion lo which the Charities (Accounts and Reports) Regulab'orts 2W8 requires us lo roport to you rf. in Ouf oplnlon.. • the Informallon In the tru$to98' rnport IB Incon818tent In any rnaterial re8p8ct wlth tho accounts.. ¢y su￿￿onI accounting records have nol kept. or • the accounts are In agreement with the acuunting r80)rds and relums., or • we hove not recewed all the nformation and explanation8 we fequire for our audll. R•8pon•lbllltl•s of tru•tee• AB explained morg fvlty in the Iru5toes' ￿spons￿lI￿leS slalemenl, thetruslees org rosponslbl for the p￿paratIOn of the ac£ounts and lor being satisfied that they give a true and fair view, and for such inlemal control as the trusl8es delemiing is neG￿Sary lo enable tho proparation of accounts thal are froe from mateiial misstatement, whelhgf due to fraud or effor. In preparfng thg ?￿ounts. Ihe trustees org responsib￿ for assessing the tharity's abilty lo conlinue a5 a going (¥Jncem. disclosing, as applicab￿, matters related to going con￿r￿ and uslng the going cOn￿M basis of accounting unless the InJ8le&s gither intend to liquidate the Charity or to cease operations. or hav8 no r8alistK altemative but to do so. Audltorf¥ mpon•iblllll•s forth• audtt of th• accounts We have been appointed as audilor under section 144 of tho Charrties Act 2011 and report In accor¢Jance wrfh the Acl and ￿levant reguL4tions made or hawng effect thereunder. Our objectNeS are to obtain reasonable assurancE about whelher the accounts as a whole are free from materi81 mlsstatemenl. whether due to fraud or error, and lo issue gn audttorfs report that indudes our opinion. Reasonable assurance is a htgh level of assurance, but is not a guarantee that an audrt (x)nducted in accordarKe with ISAS (UK) will ahyays delect a material misstatement when it exists. The English Domirbican Congregation (Stone) CharTtablg Fund 33 Ind•pondont audltorf• rnport 31 March 2024 Audltorf• r••pon¥lbllltl•• for th• audtt of the accounts l¢ontinuedl Misstatements can arise Irom fraud or error arxl are Lx)n5idered material rf. individually or in the aggregate. they ¢oukl reasonabty be expec*ed lo influence the economic deaslons of US8rs takèn on the basis of Ihese aoxunts. Irregularities, induding fraud. are instances of non-ts)mpli8nce with laws and regulations. We design proce(lures in line wth Ouf responsibilities, ouilined abovg. lo dgletx material misstslements in respect of irregularities, including fraud. The èxtènt lo whth our prO￿dureS are capable of detecting Irregularit￿S, induding fraud is detailed bebw. Our approach lo idenifying and assessing the risks of materi81 misslatemonl in resp8Ct of irregularibes, induding fraud and non-compliance whh laws and regulations, was as follows.. + The engag&menl director ensured that thè engagement team collectiv&￿ had the appropriate compet9nce. capabilities and ski118 10 ￿entify or recognise non-¢ompli8nce w5th applkable I￿$ and regulation8: + We ldenlrfied the laws and regulal*Jns appluble lo the chatltable company through discussions wtth management and trusteès and from our knowledge and experion¢g 01 the se¢aor. We focLFsed on speu'k laws and rggulalions which we considered rnay havg direct material 8ffect on Ihe account$ or Ihe actlvities of the charitable company. Thgse included bul wefe not Ilmited lo Accounting and Repoth'ng by Charit￿$.. Slalemenl of Recommended Practice applicablè lo charities preparing thoir accounts In aeeordance with the Financial Reporting Siandard appli￿￿1& lft the United Kingdom and Republic of Ireland ICharltl98 SORP FRS 1021.. and • We assessed Ihe extent of compliancg Wbth the laws and regulations Identified at>)ve through making enquiries of management and those charged wth govemancg and revitr of minutes of tru5tees' meetwig5 and reports from rggylatory bodies. We assessed th8 susceptibility of the charftable cofflp9n￿S flnanclal 8talemeni8 lo matarfol misslalemenl, induding oblaining an understanding ol how fraud might occur, by.. • Making enquiries of managemerrt and Irusteès a$ lo where thèy considered thero was susceptibilty to fra￿J. their knovAedge of adval. suspected and alleged fraud,. and • Considering the intemal controls in pLace to mitigate risks of fraud and non-compli8nc• with law$ and regulallons. To 8d(l￿$S the risk of fraud thrwh managefflent bias and 0￿rridO of cx)ntrol8, WO.. • Perfomieil anatytical p¥￿1vre5 lo identify any unusual or unexpectad relationships; Rewewed ioumal entries lo idenlfy unusual transactions., Carried out substantNe tesling of expenditure: • Assessed whether judg8m8nts and assumptions made in determining the acry)unling estimates v&e ]nd￿tI¥e of w)lenlial bias., and • Investigated the rationale behirHI signfficznl or unusLtal transa¢tK)ns. Th¢ EtvJlish Dominican Gongregation {Stonel Charitab16 Fund 34 Indop•nd•nt audltorf8 rnport 31 Mar¢h 2024 Audltorfs rv4ponslblllli•$ forth• audft of th• accounts l¢ontinued) In ￿sponSe lo the risk ol irregul8rrtie5 and non-0)mplian￿ with laws and regulations. we dtrsigned procedures whth induded. but were not limited to.. • Agreeing financial statement disdosures to undertying supporting dc￿mentatIon." • Readin9 the minLrt&s of meelings of trustee board: and + Enquiring of as lo actual and potential litigation and daims. As a resutt ofour proc4dures we did not idenify any key audil matt¢r$ rekting lo Irrogularili&s. Thor8 ar8 inherent limttations in cyJr audit procedures de$crib8d above. The morg ramoved that laws and regulations are from financial transactions. the less likely (t is that we would become aware ol non-complianf*. Auditing slandaids also limf( the audit procedures required lo idenlrfy non-complianc6 with law5 and regulatK*ns to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, rf any. Materlal misstatgments that arise due to fraud can ba harder to dfjtèct than tho$9 that arfse from error as Ihéy may involve d&libgral& ¢oncgalmenl or colluslon. A further description of our responsibilrties for the audit of the accounts is located on the Flnancial Reporting Counc¥l'5 website al wKw.frc.org.uklauditorsre8pon5ibi1￿&5. This deBCrtplion forn￿ part ofour a￿lItOff8 report. U•e of our Y•port Thls report 18 made sol&ty lo the ¢harlty's trustees. as a boty, in accordance wth Part 4 of the Charities (Accounts and Reports) Regulations 2tK18. Our audit work has been undertsken so that Wo mvJhl state to Ihe charity's trust80$ Ihosa mattgrs wg aro roquirad lo $latg lo Ihom in an audilorf$ report and for no olher purpose. To the fv11osl oxtgnt pemitted by law, wè do not a¢¢epl or assume responsibility lo anyone other than thè charity and the charrty'3 Irustees as a body. for our a￿￿11 work. for this report. OT for the opinions we have formed Stalutory Audrfor 130 Wood Street London EC2V 6DL Date: l November 2024 Buzzacolt LLP is eligib￿ to act Js an audltor in lems of sertton 1212 of the Companies Act The English Dofflinican Congregalion {Stonel Charitable Fund 35 statement ¢1 flnanclal actlvltl•s Year to 31 March 2024 2023 Total funds nda fund# Ineom• Ir•m'. Don8ion8, gr8rts bJ Ofv trHLlng xtivth8J Inwstrwts aTrJ irrter V8b 472.471 53,4 11,071 .542 691,440 $3,4X* 43,521 320,709 3 6.570.835 39.￿6 7.457.113 324.709 7,611,917 39,668 8.409,266 273,48e 6,247,928 25,448 7,281,821 941,082 952.153 on: Raisiw fu￿J5 charitab￿ . SLPPOrt ofmertm c•th Crryeo0kn •ndtsr minsty 887 81,446 814.802 10,943 025,Y45 946.079 5 3.131.357 6 3.823.115 14.163 4.519 7.796.e10 3,131,3S7 4,776.696 14163 4,S19 8,761,047 2.972.(lJ6 4.222.952 12.813 . P￿￿810n01 953.451 Tol•l •xp•ndliUrn 954.437 .215.296 N•t exp•ndltuF• b•lor• Invwthi•nt g•ln• •nd lau•B (339,49n 112.2841 1361.7811 (933.4751 Ntt I￿￿*8) M the 13 161,241 161.241 0g.e81 N•t•Ap•ndttur• b•foM trnMf•rn 9 1178,2MI 112.2841 1190,5401 11.543.156> 13.240 18 ￿ 13.240 N•t fflovqm•nt In lundB 1191,4961 1190.SIOI 11,543,156) R•¢on¢lll•Uon of lund• Fund b818rw 4t 1 20rJ 21.887.845 104,376 12,830 22,C¢)S,051 21548,207 Fufid bQlanL*S fohwld ai 31 Marth 2024 21.W.349 105,332 12,830 21,114,511 22,tsX,051 All rocognised gains and losses are induded in the above statement of financial activtiSes. All of the char￿'S actNitl•s dwived trom continuing operations during the 8bovg trwo finandal yearB. A full ￿Mparal1ve statement of finanoal athities is shown on page 37. The Engltsh Dominhxn Congregation (Stone) Charitable F¢tnd 36 Compardtlve ststement of financial adivili¢s Yoar to 31 March 2023 2￿23 fijnds fvJnds fvnds DcY*tions. Oth¢rlrnthng aciThths .746 4a521 271486 3 &467.405 24449 6.35Q.fj06 140.694 691.440 43,521 273,486 6,247,926 25.448 7.28f,82t TW.521 OIIW TOMI In¢¢m* 921.215 Exp¢ndltur•on.' Ral*irt9 fithds 11.5Q4 49.942 81,446 . SWolJn•mèern dl 931. 148 14.931 946,079 5 ZgfZ(tiI 0 3.351.Nt 12813 7.2Ta512 871.911 4,222.952 12.813 &2t&298 ratsi •xw¢*ltw• 93A784 [117.9061 (15.569) (933.475} eth,6811 609,681 9 (1.527.SV7J (15.589) 18 ,253 (fQ.2S3J (1,477,3341 (fj5.822) (1,543, I￿} at l Apiil 2022 23.365. IT9 170. 198 I2￿ 2198,207 8t31 March 2023 21,887,845 t04,576 12.85LI 22,￿5,051 The English Dominican Con9iegation {Stonel Charitable Fund 37 Balanc• sheet 31 March 2024 2024 2024 2023 2023 Flxed assets Tangible assets Investrnents Programme rglatsd Inbwtrwnts 12 13 14 9.420,615 5.910.684 2,633.690 17,964,969 9,Ce7,582 5.749.423 2.633.690 17.450.675 ¢urrnnt aM•ts Slock Dobtern Short tenn Cash at bank afid In hand 2.710 387,335 2.031,706 2.025.308 4,447,069 2,782 615.C68 857,528 3.708.871 5,184,249 15 UabllltS•8 Ciedrtors." amounts hlir4 du• wlthin ong y￿r 18 1597.517 1829,8731 Ng¢ Cuffonl ••••l• 3.849.542 4.554,376 Tot•1 twt u••ts 21.B14.511 22.005.051 Tl* lund• ol ch•rlty: Capital tur￿5.. . EndO￿nentlund• Income Fundj.. . Restricted fund5 . Unre$lricted lunds.. . General funds . Tangibb fixod 888•ts fund . De8tranatgd fun(l$ 17 12.830 12,830 18 105.332 104,378 1,522,555 9.420.615 10,753.179 21,814,511 2,014,309 9,087,￿2 10,805,974 22,OD5,051 19 20 Approved by th9 trustees arKI $lgn8d on thetr beh8ff by.. Chair of Trustees Approved by Ihe trustees on: 60.lo.203-* The English Domini¢8n Congregation (Stone) Charitable Fund 38 Statement of cash Ilows Year lo 31 March 2024 2024 2023 Notos Cash 0￿ratIng xtivlllBS'. Net ¢8$h ITh operab'ng acti¥￿e& A 1217.3381 1830,0111 Cash flrNrJ frni Invegong actlvlties.. Investrnent In￿m6 and intere51 rew*d Prnc8eds from the disposal oflang￿e ftted a559ts Pmceeds from the disposal of investr￿nts Purchase of tangib￿ fixed assets Ng1 cash Iu88d Inl provldpd by Inv88tlng actlvltlo• 326.989 12,901 272.571 600,fM)O 1164.5941 707,977 1631,937 1292,047 C￿￿99 In ¢a•h and cash equlvaknnt• In th• yaar 1509,3851 1122.0341 Cash and cuh •qUIv￿OnI# at l Aprtl 2023 B 4.566.399 4,688,433 Calh and ca8h oqulvalenl* •t 31 h 2024 B 4.057.014 4.566,399 Not￿ to the statsment of flow• for the y••r to 31 March 2024. A R•¢on¢lllallon of not exp•ndltuu• to n•t ca•h flo￿ from D￿ratIng actlvfti 2024 2023 N•t •xpndrtyrn las per th• •iat•m•nt of flmnclal a￿VIll•S1 Adjustments lor.. Deprnu#lion charg• IG8ln811088e8 on Invostmtrnts Inveslmenl ineeme 8ThJ intere8t r8c•ThYbk• Ind￿J1￿j rgnt r8c*ivab GAln on disp￿81 ol fixed 88s•ts Decre858 In stocks Incr•a8e (d￿reaSe) th debtorn I0￿reaSe) incr8a8e in creditors N•t cash provld•d by lu•¢d Inl op•rntlw actlvlll 1190.6401 11.543.156) 261.464 286,453 609,681 1320.7091 1273,4861 4.519 72 674 221,453 14,1441 32,356 113,967 1217.3381 1830.0111 B Analys1• of cash and ¢••h •qulvalents 2014 2023 Cash At bank and in hand Short lem d8PO8it5 Totsl cash and cash •qU￿a￿nI• 2.025,308 2,031,708 4,057,014 3,708.871 857,528 4,566,399 No sgparate statement of (*anges in nel debt has bean prepared as there Is no drfference behyeen the movemenis in cash and cash eqU￿a￿nts and movgment in net cash Id&btl. The English DominKan Congiegation (Stone) Ch8ritable Fund 39 Principal accounting Polici￿ Year to 31 Marth 2024 The prin(ypal accounting polKies athjpted. judg&ments and key sources of e$timatioA uncertainty in the preparation of the ac£ounts #re laid out belcAv. Basls of prnp*rnllon Thes• accounts have been p￿pared for Ihe year to 31 March 2024 with ts)mparativ8 nformation prov*Jed in Tesp&a to the year to 31 March 2023. The aco)unts have been pr9pared in accordan￿ wrth Acc£*unting and Rèporting by char￿e8.. Statement of R&￿MMandeJs18 include.. Expenditure on the support of members ol the Congregation and their mini51ry. Such expendrtur8 enables lh¢ members to carry out the work of the charity in the areas of the advarKemenl ol tho Roman Catholic faith, the provision of residenlkql and nursing care. the advaneemenl of education and the reliel ol povoty. 11 Expenditure In￿rred in providing eduCat￿n and care al the charW$ school, St RoBe'3 School. Stroud. (illl Expenditure incurred in the prowsitin of residen1181 and nursSng carg faoilities for the dety al St Mgry's Horne. Stone. Ilvl Donation$ made to other organisations and lo individuals. The making of gr8nl8 and donalbns Is nol a c4ntral part of th9 charl￿5 aciNilies. Donation5 are rnade only in Cases where the trnstees consider there is real need following a review of the details ol each particular case. Gr8nts and donation$ aT¢ Indudod in the stslement ol financial actNlties when approved lor payrnenl. Prowsion 1$ m8d& for gr8nls and donatK)n$ approved but unpaid at the year end. The majority of expenditure can be attribLrted d1￿cl1Y to the above categories. Some 51aff co$t$ ar8 apportioned befvRen the above categorie5 of expenditure based on the lime spent by stsff on the rglevant area. Governar￿e cosls which ojrnprise Ihe co$15 dirèctly ￿tt￿bUtabIe lo the govemance ofthe charity, induding audil c£*sts and the necessary legal procedures for compliance w￿h statutory requirements are allo(aled directly lo the charitable activities to which they relate. The English Domini¢an Congregation (Stone) Charrtable FLsnd 43 Prfn¢lpal a¢countlng poll¢1￿ Year to 31 Marth 2024 T•ngiblo fixed a¥•et• All assets costing mote than £2.CW. and with an expected usefvl life excegding one year, are caprtalised. • N0n-speaal￿ed freelvJkl &nd and buildings Non-specialised land and buildings are Ihose designèd as, and used wholly or rnainly for. Priwdle residential accornrnodab'on, induding rgsidential convents. They are stated in th& accounts al cosl. Such land and buildings arg not depreciated. Their value and condrtlon are reviewed annually ty the trustees. who are Satisfied thal Iheir resldu81 valuè Is not mat8rially1oss than their t￿k value. Spe¢ialised freghold larKI and buiklings Speaalise<1 builL1ings {a￿pr￿8e the Congregation's e4ro home and school. Land and buildings ￿mprising a care horne and school are slated al cost, or where c/Jsl is nol available, at deemed cost at the dalg of Iran8ition lo Charities SORP FRS 102 based on a Irustoes, ￿l￿oI￿n madg In 1994 on the basis ofconlinulng usg with no value ing attrlbuled to freehold land. DeprecAation on the propety used by the ¢8re home, is provKled al 2% per annum on a slravJht-lin8 basis to write the bullding8 off over thelr eslimaled useful econom￿ life to the charity. The properties used by the School are depreciated al rates ￿ts¥een 2% to 5% pw 8nnum on a Slraighl I￿8 ba8iS. • Assets under constwclion Asset$ In the course of Lx)nslruction ar8 ¢3pitalised and sh￿n as a separate category ol tsngible r￿ed a85ets. No depreciation is charged on such assets. On completion. th9 costs assoc¢ated with bring ihe asset into being are transferred lo the appropriate a$s&l category and the assets are deprecia18d from that dale using the rates set out above, • Fumrtur8 and gquipment COMp￿8r gquipmènl is depiecialed a133.3% per annum, on a stralght ling basI8, in order to write off the (y)sl of each as8el over ils estsmat8d usgful Ilfe. Expenditure on the purchase and replacement of fumilure and other equipment Is capitalised and depreaaled over periods of between five and Nventy years, in order lo write off tha cost of each as$&t over its eslimaled usehjl life. Certaln Items of fumilure 8n¢J equipment used by the School are dgpreclaled al rates be￿een 15% 10 33% per annum on a reducing basis. • Motor vehides Motor vehicl8s aro capilalised and depreciated al 25% per annurn, on a straight Ilne basi8, in order lo write off the c*Jst of e8th vehN* over lis estimated useful Irf8. The motor vehi(Jes use(1 by the Sd)ool are depreciated at 25% per annum on 8 redurAng The Engl¢sh Dominican Congwation (Stone) Charitable Fund 44 PAnclpal accounting pollcies Year to 31 March 2024 Investments Listed investment$ are a fomi of tia$i¢ financial in5tnJmenl and are initialty recognised at th8ir transaction value and subsequently measured at their fair value as at th6 balance sh&el dale using the closing quoted market price. The charity does not acquire put (pt￿nS. derrvatNe$ or other compbx fin8n¢ial instruments. Realised gains lor bsses) on investment assets are calcuL8t8d as the difference be￿e￿n disposal proceeds and their openiThJ carrying valu8 or their purchase value where the investment is #cquired subsequent lo the first day of the financial year. Unrealised galns and Ios5es are calculaled as the difference be￿een the fair value al the year end and Ihelr carrying value at that dale. Realised and unrealised investment gains lor losses) are combined in Ihg stslemenl of finano81 at#ivrti88 and are ￿edIted lor debited) in the year in whiL* they arise. Cash held by the investment manager for re-investment is indud8d os a component of ffixed asset investmenls. Prograrnm• rnlat•d Inve8tmenl• Programme related investments indud¢ buikling8 owned by tr¢tr charty bul occupied by Sl Oomlnlc's P￿Ory Scr￿1 (Stone). an independent day school. for the advant>menl of education. The buildings are induded on the balance sheel based at Iheir Carrying value a8 al the date on whKh tha building was mado available lo Sl Domin¢'s Priory School (Slonel. All programme relaleil investments are ¢arri8d on thè balance sheet nel of any irnpairmenl provisions. Any gains lor programme related bss8sI arising from the disposal ol such investments are credrted {ordebitedl tothe statement of finanoal acllvilies in the yearln which Ihoy arise. Sta¢k• Stocks of miscellaneous educalitin and other Supplies are Induded on tha balanca sheel al the lower of cost and net reali8able value. btorn D8blors are recognised al their settlement amunl, less any provision for non-￿cOveratsl1lty. Prepaymen13 are valued at the amount prepaid. They have been di$counled lo the present value of the future cash receipt where such di8￿1ntIng 18 material. Cash at bank and In hand Cash at bank and in hand ￿presents suth acC(￿nIS and instruments that are available on demand or have a maturty of less than three month$ from the dale of a￿Ul$ll10n. Deposits lor more than three months bui less than one yèai have been disclosed 85 short term deposits. Cash placed on deposit for MO￿ than one year is disclosed as a fixed asset investment. Creditors and prov5slons Credttors and promsions are reo)gnised when Ihere 15 an obligation al the balancE sheet date as 3 resutt of a p8St event. tt is probable that a transfer of economic benefit will be required in settlement. and the amount of the setuemenl can be estimated reliabty. Creditors and provisions are recwnised al ihe amount the charity anticipates rt will pay lo setue the debt. The English Dominican Congregation (Stone) Charitable Fund 46 Principal accountlng Poll¢1￿ Year lo 31 Mar(* 2024 Creditorn and provlslon• l¢)Jntinued) They have been discounted to thg present valug ol tho ftrture cash payment where such di$￿￿nI1n9 is m8leri81. Fund accountlng The general fund comprises Ihose monies whth may be used lowafds meeting the thar￿ble objoctivgs of Ihg ¢hanty al Ihe disuetion of the truslees. The tsn9ib￿ iygd ¥$s¢ts fund ropresènts th& net bcok value of the cthariV8 freehohj properties and other tangible fixed assets whth represent unrestncted funds. The designated fijnds are mnies 881 asid8 out of ganeral funds and dg$lgnalgd for spedfic purposes by the trustegs. The resIr￿ted lunds comprise assets and monies raised where Ihelf use Is reslrtcted lo a speofic purpose or donations subjeca io tjonor imposed e¢)nditson5. The endowment funds ¢ompri8e mon￿$ whith must be held indefinitely as capital. Thg income therefrom can b8 used for general purF4Jses and is credited dir¢0 lo unrestricted funds. S•rvl¢e• provld•d by m•mb•rn of the Con9rng•tlon For the Purposes of these ac£ounts. no value has been placed on administratwe and other services pnjwded by the meJrt>ers of the Congregation. Fornlgn currnnclgs Income feceN&d ￿$ts incurred o¥erseas a￿ Iranslaled Into slerfing al the rale ol exchange in force al the year end. This poliry does nol comply with FRS 102 Section 30, but has been adopted lo avoid over-complexty. The amounts invofved are not matorial. nslon cost• Conldbullons made In respe(a ofthe charws deflned conlributlon 8chemè are charged lo the 8181ement ol financial 8¢4i¥it*s in the year In which they are payable lo the scheme. Full-time and part-lime tea¢hiw staff al St Rose'8 School emthed under a contract of service are eligible to contribute lo the Teachers. PensK*n Schemo trpsi. Thg TPS, statutory, contributory. final salary scheme is administ8ted by T88ch8rs' Pensions on behalf of the Department for Edu¢atK)n IDfEI. As the S(J)ool is unable lo identify 115 Share of the underlying Inolionall assets and liabilities of the scheme, it has taken advantage of the exemption within 5ethon 28 of FRS 102 and has attounled for rt5 cY*nlribulions lo the scheme as rf it were a defined benefit ￿ntrIbution sc*eme. ContribLrtions to the Scheme are charged to the statement of finanaal aCIN￿eS as they becom& payable in aceudancè wllh the rnles of the Scheme. Lea$• ¢¢ynmltments Rentals applicable lo operating leases where subslanlially all of the benefits and risks of ownership remain wrth the les5(K 8re ¢haige(I lo Ihe statement of financial activities on a straight line basis over the lease term. The English Domin*Jn Congregation {Stonel Charitable Fund 46 Note$ to tho 4¢¢ounts Year lo 31 March 2024 1 Income from: donations. grdnts and legael•s Total restri￿ Re5tthy 2024 Jnds Total 2023 funil• fvnd• $8Lgres and Fensbro01 indMdLd ￿1￿K)Us urthr GiftAd or De•J cl c￿nant Grants r&*Nat4e 6,257 4.814 11.071 0.257 110.750 413,542 14.315 126,379 140.694 14,315 ?34,529 691,440 108.150 s￿).748 472,471 2 Incom• from: Inv￿lm&n￿ and lrttsr••t rn¢•lv*blo Total 2024 Total 2023 lurbdB fund8 ftom li8tsJ . UK ir￿￿￿1 nd .1)K￿ 183.106 1,713 185.219 1B1.076 1.321 182.397 181,076 1.321 162,297 1,713 183,219 Irr¢￿troM pYcgrarrffi8 17.028 79.542 44 320.709 11,547 273.486 11.547 273.488 320,709 3 Income from: Charftabl• actlvhle8 Uo- Un- Totsl 2024 Total 2023 lund• lun fvnds ChwJo8 for re8h18nb￿ Jer¥ 2M75.914 2,875,904 2,357,815 2,357.815 3.59IW 3.074.586 3,074,586 the Certrd and Lor4 101,UJ 6,570,835 s41.￿2 941.042 1,043,025 7,511,917 35,OD4 5.467,405 780.521 780.521 815,525 6,247,926 Charges for residenti81 and nursing care services represenl fees charged in respect lo re3NJents al the chariiYs resMJenti41 and nursing care home, St Mary's Home, Stone. The fe&8 charged are stated nel of chariiable discounts of £126.90312023 - £148,871). Charges for educational and car8 represent the fees and related income of the charity's school. Sl Rose's SL*ool, stro￿1. The English Dominifan congregab.on (Stone) Charitable Fund 47 Notfjts to the accounts Year lo 31 March 2024 4 Exp•ndI￿re on Charitsbl? ac1ivitiM: Support of meM￿r• of th• Congr•gatlon and their ministry Un- Totsi Tcthl 2023 lunds frjr fund¥ JBT.335 63.649 251,823 271.486 283.438 259.745 271.486 283.438 259,745 5J,549 Educ¥lw. tr8inino ritual renvw 295 1I94J 15,TT4 14,931 30.705 17.028 24,972 114.002 67,021 24,972 025.745 78,Ch)1 22,704 931,148 78,rKIi 22,704 946,079 lTr)t• 81 10.943 14,931 5 Expendlturg on charltsblo actlvltle•: Provl•lon of rnsld•ntlal and nuY¥lng ¢are Total 2D23 frjnds Jnd¥ Staff rxx¢•-we 8laff 2.249.W2 2.249,862 2.185,203 2.185,202 #nd administr* Pwmls 228,077 Jl4,542 119,383 210,f 372,558 97,445 37,939 77,435 10,824 2,972,W6 210.802 372.￿8 97.445 37,939 77,435 10,824 2.972.006 3N.$42 119.383 84.636 2,971 11. 3,131,3S7 Ilwo of 01977 11,800 3,131,357 6 Exp•ndituro on charltable 4ctivrllM: Provl¥lon of educat5on and car• Totsl 2023 funth fun 2024 rx ndu J.OU.796 949,091 3,903,607 2,533,%1 864.554 3.397.915 Edur¥tiw SUFWkn88TrJ we￿8 Premise8 4S60 207,145 220.927 418,628 415.711 114,108 I35.￿3 42.940 45.439 4.776,596 3.351.041 7.357 228,284 418.626 114.198 42,940 3,823.145 135,803 45,439 4,222,952 Go¥em8nc8(t4ts1Tr)te 81 .451 871.911 The English Dominican Congregation (Slone} Ch8rit8ble Fund 48 Natès to the accounts Year to 31 Mar(* 2024 7 Expèndlture on eharttsblè actlvities: Grdnts and donations Oonalion5 and grants payable dunng the year were as lollows". Total 2D24 Restthj fijnds furbd• Drrntions grwts F8y to IrtNi(MJa aThY grwts p8y8tI8 b) Insbtutions1£1.CW c 7.109 7,109 5,598 Ukrai￿} 1,530 1,300 2,751 2.751 E1,CKY)I J,981 14,163 1,633 12,813 14.163 12.813 Gov•manc• ¢o•ts rg•trlctqd A•Btrfct•d lundi Totsl 2024 R••tricted Tot81 2023 fvJnd$ 4*JA8Tr18cwJnIa￿y 24.972 24,971 22.704 10,824 16,260 22,704 10,824 16,260 . St Ro•6'8 Schoc4 Other f . 8t Rcqe'l Scho 18,280 16,280 29,179 78,967 29,179 78,967 79.792 79.791 • Net trxpendlture for thè y￿r This Is staled after charging.. Tolal 2024 Total 2D23 Staff c0815 Inota 101 Auditorf8 r¢munor•lon . Statutory audrt f8es . Non slalutwy sudrt l••$ Depwiauon (note 121 6.525.175 8,057,158 24,972 28.140 261.464 22,704 27,084 266,453 The English Dominican cOng￿98￿0n {Slonèl Charitable Fund 49 Notss to the accounts Year to 31 March 2024 10 Staff costs and rnmunoTrtion of key management pornonn•l Total 2024 Total 2023 Stsff c48ts dunrKJ Ihe year**r• as folltrws: Wages aTrJ 5alarig$ Social eosls Oth¢r p91￿10n costs 5.495.471 444,769 286.717 6.226.957 295,066 3.152 8.525.175 5.049,536 398,891 226,194 5,671.621 383.628 1,909 6,057.158 A9ency Staff prenticgship Stsff cos¢$ per fvncts.on wero 4$ 10lltr*•'. Support of rnernb8rs ol the Congregation and rnln•try Provision of r¥6rtlenb"8l 8nd nurllng C81• of*j￿a￿￿n 53.549 2.477.939 3.993.687 8,62S,175 283,438 2.375,805 3.397,915 8,057,158 The number of employees who8e Temuneration lsalarigs, wages and benefrts in klndl exceeded £60.CQO per annuffl was as loblows.. 2024 2023 £80,C#JO-£70.C £70,C#)0- £80.ttrfJ £80.000- £SK).(K(I Tho av8rage number of emtheos. anatysod by fijnction. was.. 2024 No. 2023 No. Support of members of Ihe Coryregab.￿ 8nd th•irmin*ty P￿¥￿Ilon of reshlenlial and nurslng ca Pro¥A&lon of education and ca 97 146 95 148 254 244 The key management personnel in chargo of dlrectlng 8nd o)nlrolling. running, and oporallng the charty on a day-ILkday basis comprisg the trustees. the Managem8nl 80grd ol Sl Mary'8 Horne ond the Leadership Management Team of Sl Rose's School. The lot81 romuneralion lknduding taxable bene1tt5 tyjt exduding empbygrfs pan$ion contributionBI of the key fflanagement personnel for the year was £630,37012023- £643,694). No trust80 receN9d any r9nwneralion or ￿T￿bur3eMent in connection wth theTr dutles 85 tsuste8s or key management penwnnel during the year12023- non81. The ¢harWs Iru5tees are all mÈmbers of the Congregation and ojnsequently their living and personal expenses. 811 of which are consistenl with the amounts paid in respert lo other members of thè Congregation, are borne by the charity. The English DoMin￿n Congregation (Slone} Charitable Fund SO Notes to the accounts Year to 31 March 2024 11 Taxation The English Dominican Congregation (Stone) Charitable Trust 15 a regIste￿d charity and, therefore, is not liable lo in￿rne tax OT corporation tax on in¢J)me derived from its charitable activ￿6$. as rt fa115 within the Vaiious exemplK)ns available to registered charf(ie8. 12 Tangib￿ flX￿ ¥wJets Fum¥￿Tr TOtsI c￿lDr¥•I￿￿ At f W12023 2.741.tr25 B.602. 91.eOI 1,030,457 2M,757 PQ.U141 1.23a.2th) 125,973 (29,0ts61 15gmOI 285.595 13,100,321 tIspo•A At31 Mvth2024 2.922,371 .744.1eo 1481.270 4.3&fj.010 1.236.2W 285.595 4aa.101 2.922.371 8.744.If 1.236,XO 285,595 13,IU.320 Al 1 Apdl 202J ChwyD fu 2.719.159 182.C+l1 149,047 2?,￿1 111.648 1ei,(w 3.J47,107 1,444 41,110 SO,OJ2 AI 31 2024 2.tyJ1.470 N•tbotsl¥•lu•• At31 Kl¥th 1024 At31 20Ya 1922.371 S.842,aWJ S.932.540 S30.Sel 124.593 •.420.11 ,D07.M2 The book valug of nw-$peLiali8ed freehohj land and bull¢Jlngs is based on cost. The book valLtre of speaalised land and buildings ao]uired prior lo 1 April 1994 comprising a nursing home and school is based on a valuation made by the Iru8lees in 1994. Under the Iranslllonal arrangernents set oui in FRS 102, Ihese valuations are, wth effoct from 1 April 2015, deemed to be their cost. Additions to spedallsed land and buiKlings slnc8 1 April 1994 and oiher tangible fixed assets are stated al historic cost less depreciation. ft is likety that there arg m81erial dIfferen￿S belween th& O￿n markel values ofthe charty's land and buildings and Iheir book values. These arisè from the specAalised nature ol some propertios and the effects of inllation. The amounl of such differenc£s cannot bè ascertained wrthout incurring signfficant cosls. whth. in the opinion of truste&s. are not justified in terms of the benefil to the usors ofthe a(£ounts. 13 Inve•tmonts 2024 2023 Llsted Investments ma￿et value al 1 April 2023 Dlsposal pfeceed5 Realised )98ses Disposa18 al book Unrealk8ed gains Ilossesl ￿ ￿¥SlU¥bon Market value a131 March 2024 5.749.423 6,959.103 ieoo,OODI ie3,4541 ie63,4541 1546,2261 5.749,423 161,241 5,910.684 Cost of listed investrneAts at 31 ma￿ 2024 3,752,S85 3.752,586 The English Dominican Congregation (Stone) Charitable Fund S1 Notes to th• a¢eounts Year to 31 March 2024 13 Inv••tr•nts Iconlinued) I listed investmen15 were de8tt ￿ on a re￿nI￿1 stock ?￿hange and cornprised UK equities and UK managed fiJrKIs. sted investmants held at 31 Marc* 2024 comprised the fol1v￿lng'. 2024 2023 818c*Roc* CatholK ch8r1￿¥ Grrttrth ar*J Incom• Fu UK •oubtt•s 5,887,145 43,519 S,910,664 5.706,315 43,108 5.749,423 14 Programme rnlated Inve•tm•nts Al the year end. the charity hdd investments which were held dlredy In pursuit of the or98n18a￿Qn.s ¢haritoblo activit￿s. a8 folbws.. 2024 2023 S¢hool bulldl At 1 April 2023 8nd 31 March 2024 2,133,690 2.633,690 The programme related investments comprf8e Ihe School bulldings owned by the charity bul which We￿ made availab￿ to Sl Domink's Pr￿)ry School (Stone), an ￿dePenderrt day school, wlth effect from 25 May 2011 for gducat*)nal purpose8. 16 Debtorn 2024 2023 S¢hool fe88 and r81atsd cha R88idènlial and nurning Care home and chorg Invesbnent Income anol interest r8C8ivab Pr8payments and acuued inD)m# 103.656 108.2S3 45,873 129.553 387.335 310.244 102.748 52.153 149.925 815,(￿8 16 Crndltor8: amounts lalllng due withln one ye*r 2024 2023 Expen￿ creditOT5 Mcnkes admink51erBd by the L*•rty on t¢haff of lTrJMdual members ol The English Lk¥nknkan Congrpgatiors Istonel Fees received in acfvance So¢￿1 security 0￿r taxes Accruals Olher crEditOrn 97.513 100.498 116,411 10.134 116,411 13.194 91,gCg 253,359 54,504 629,873 337,479 35.980 597.517 The English t)omlni¢￿n Congw3tion (Stone) Charitablp Fund 52 Notes to the a¢¢ounts Year to 31 Marth 2024 17 Endowmgnt fvnd¥ The capital funds ol the charity inchjde endowed monies which must be retsined indefinitely. A¢ 1 Aprfl At 31 Marth 202d Ine•m• Expendmurn 11830 12,830 Al 31 Ala 2023 Z022 12. 12,830 18 R•Str1et￿ lund8 The in¢orne funds ofthe charity indude restrided funds c¢mprising the following unexpendgd balances of donations and grants held on trust to opplied for specific purposes.. 1 Aprfl 31 Marth 2024 Inccffl• Exp•ndltur¥ Trnnil•r* 74 (953.4941 110,94JI 13.240 80,080 9,9S6 15,296 100,332 9.039 104.376 $.257 952,153 ¥4,4371 13,210 Jt 2023 133.618 912.926 (921.853) IY4.931} ($0.2531 74,4f98 20.899 4209 921.2f5 170. 198 t9J6. T841 150,253) t04.376 St RoH'• Sehool fvnd The Sl Ro$e's School lund comprise monies raised and grants received to ba spent on Specif￿ activities and I￿￿d*S mon*s received from the Dèpartment for Edu¢alion for the bmprovemenl of the s¢hool'5 Standaril#. The transfer from the rèslricled fund to unrestricted fvnds has been made to reflect the fact that the funds have been used lo purchase tangib￿ fixed assots in 8C(y)rdan¢g Wrth the temis on which the funding was recewed. • Cambrfdge fund The Cambridge fvnd c(Mnpn"se8 mon￿$ used lo pro￿d& board, lodgings and study faulities in Cambridge for Oofflinican Sisters from central and eastern Europe. • Other rn$tri¢ted funds Other restricaed funds comprised other moniès received by the ¢hyrity which can only be applied in aCcOrda￿e with wndilions imposed by the (Sonor. The English Dominican Congregation {Stonel Charitable Fund 53 Note¥ to th• accounts Year to 31 Marth 2024 19 Tangibl• nx•d aM•ts lund Total 2024 Total 2023 At 1 April 2023 Net rno¥ernents in yeAr At 31 March 2024 9.087.562 353,053 9,420,615 9,169,421 1101.8591 9,067,562 The tangible fixed assets fvnd r&wesonled the not book value of th• chartty$ fr8ohol property and other tsngiblè fixed assets held as part of unrgstricted funds. A derAsion was made lo separate this fund from the general lunds of the Charity in recognibon of the fact that the tangible frAed assets are essential lo ihe day-ltrday work of the charity and as such their value should not be regarded as fvnds thal would be availablo in order lo mael future contingenu￿. 20 D••lgnated fund• The incomg funds of the dlarity indudo the following designated fund8 whi¢h have been Set aside out of unfeslrictgll lunds by the truslges fcv specific pU￿￿des.. At l Aprfl 2023 d•814n•tloni At 31 Mthrth 2024 r•l•aBqd s.1￿0,1 J,161.11 2,633.8VJ 11.188 10,805,974 6,000,000 3,106,323 2.633,190 11,116 10.753.179 152,7951 At At 31 Al8rch 2023 5.(iXIC 3.4IS638 2633.690 11.166 11.GW.494 54.52QI 116t,118 2,6J3.69Q 11.166 lo.8￿.914 r254.5201 • SIBtsr¥' rntlr•m•nt fund This ¢onsi$18d of mOn￿S whith the trustees have set aside in order to provid8 for tho sisters in their ￿t1￿m￿nt. The amount which be designated is ￿nStrained by the resources available arKI Is kss than that indiczted as being ne¢d¢d by actuarial cz1culal￿n$. • School and residential hom• fund This fund represented thè n&t cajrrent assets and the investrnents held on unrestricted lunds of the charitys 5chwl, St Rose's School and the nel currgnt assgts held on unTestri¢led lunds of the residèntial home, St Marfs Home. The as$8ls hav8 baan designated for use by the respecti¥e schoo5$ and home onty. The English Dominican Congregation (Stone) Charitsble Fund 54 Notss to thè accounts Year lo 31 Maich 2024 20 Designated lund8 Icontinuodl • Programm6 r*latsd inveslment fund This fund represenled the carrying vakne of the chanty's prtsgram￿ related in￿Strn0nts. The amount ha5 been sel ashje from the chariws gen&rAI funds in recognition ofthe fact that the assets ha￿ been mad8 availabh to St Dominic's Priory School {Ston&l and therefore cannot ￿ regard￿ as funds that would be available to méel future conlingen¢ies. • Oth•rfun These represented funds des*anat8d by tho trustees for use in connection with particulai proie¢#s. 21 Analysls of n•t au•ts botsyoen lund¥ Fund balance5 al 31 March 2024 are represenlgd by.. Tlnglb GqngTh1 D￿9￿11¢d R•Atdet•d Ethdo¥An•rrt nd fund fund¥ fuDd• lund• T4)t•l 2024 T•nqiN¢ fixed ,420,616 9,420,I1S 12,fjJO LS,910,864 2,633,$90 3,849,542 12.830 21,814,511 6197.834 1633.890 1,522.5SS 2.221.655 1,62ISSS 9.420,815 10.753.179 Noi current 8S88t8 2024 Tot•1 n•t4M•t• 105,332 106,332 Fund balances at 31 March 2023 a￿ repr98ented by.. fix¥¢ Total 2025 9.Li17,562 9,067,562 12.W 5,749,425 2.633.690 4,$64.376 12,830 22.￿5,057 &73&593 2.63J.690 2.014. 2.435.591 2.074.309 9.￿T.552 10.805.974 8ssels 23 fotWnetas8ds 104,378 104,376 The English DorninThn Congregation (Stone) Chafitable Fund 55 Ntstos to the accounts Year to 31 March 2024 21 Analysls of net ass•ts b•twe•n funds Icontinugd) The tol81 unrèalised gains as at 31 March 2024 o)nslttutes movements on the rèvaluation of Ilsled investmenls". Total 2024 Totsl 2023 Unroa118ed galrvJ IncludBd kn• Total unwalL8ed goins 8t 31 March 2024 2,158,079 1.998,837 R8conclllatlon of movements In unr8all8od galn Total unieali58d gains at 1 ￿ri12023 In respec¢ to diswab in the yeor N81 Ilosse81 gains arising on re¥abJaih)M in ￿8T Tolal unrealkqed aini •131 March 2024 1,996.838 2,810,881 1287.5971 IS48.2281 1.996,838 181.241 2.158,079 22 Pen$lon ¢ommllm•nts Full-lime and parl-lime 19oching $tsff gmploy*d al St Rose's School. Stroud under a conlrnct of service are eligiblo lo contribute lo the TeacherB' P8nskJns Scheme (TPS). T•4chrs' P•nslons Sch•nM ffPSJ Under the definitions set out in section 28 of FRS 102. the TPS is a mullS-gmploygr pen8lon scheme. The charty has 8¢coimleil for ts contributions lo the Scheme a8 if il were a defined contribution Bcheffle. The information availabl8 on the scheme 18 sel out below. The Teachers. Penslon Scheme (TPSI 18 a statutory. ￿ntribUtory, d•fingd bgnefil scheme, gov&med by tho Toachgrn, Pènsbn Sch8rn9 Regukqllons 2014. Membership is aulom81ic for 11-lime teachers in academies and, from 1 January 2007, 8ulomalic lor teachers in part-tirne employfflenl following appoinlmenl or a thange of contract, although they are able to opt out. The TPS 18 an unfunded and members contrObLrte on a'pay 88 you go. basi8- these conlribulitsns along with those made by employers are credited lo the Exchequer. Retirement and other pension benefits are paid by public fvnds provided by Parfiament. Valuation of tho Teache￿. Pension SGhgm8 The Government Actuary, using normal actuarial Prinaples, conducts a formal actuarial review of the TPS in accordance wth the Publsc Service PensKJns (Valuations and Empl¢)yer C051 Cap} Diredion$ 2014 publishgd by HM Treasury every 4 years. The aim of the review is lo speafy Ihe bevel of fijlure contributions. Acluarial scheme valuations are dependent on assumptions aboul the value of ftrturè eosls. design of benefits and many other factors. The latest actuarial valuation ol the TPS was carried out as a131 Mareh 2020. The valuation report was published by the Departmènt for Education on 27 O¢Aober 2023. wlth the SCAPE rate, set by HMT, applying a notional investmerrt retum based on 1.7% atjove the rate of CPI. The English Dominican Congregalion {Stone) CharKtable Fund 56 Notes to tho ac¢(wnts Year to 31 M8rth 2024 22 Pen¥lon commllments (conlinued) TM¢hws' Pensl¢wJs Schem ITrSJ (Conline￿d) Valualion Oftt￿ Teache￿. Penslon (conts"nued) Th8 key elements of the valualim OLrtoJme are.. empknyer ¢ontributK)n rate5 set at 28.68% of pensionabb pay lincluding a 0.08% administration W). This is an increase of 5% in employer contributions and the cost control r&sult 15 such thal no than￿ in member benefits is needed. Total scheme liabilities (pensions currenvy in payment and the &slim81ed cost of future btrnefrts) foT lo the effective dale of £262,OOJ million and nots'onal a8sel$ 1881ima18d lulurè contribut￿n5 together wilh the nots'onal investments held al the valuation datel 01 £222,200 million, gNing a nolional past servi¢8 defial of £39,800 million and.. The result of this ValUat￿n wll be impl8menled froffl 1 April 2024.Thg next valuation rgsult18 due to be Implemented from 1 April 2028 A copy ol the valuabon report aTrJ suprrfy1.ing documentation is on the Teacher8, Pen61on Scheme website. Employels conlributlons papj to thè s¢heme during the year amounlod lo £146,00512023- £99,315). Natlon•l Employment S•vlng$ Tnmt This is a defined contribution scheme made av8ilable lo non-leathing staff. The contributions payable by St Roio's during tha year *nded 31 March 2024 amounted lo £91,839 {2023 - £81,552). 23 L•a•e ¢ommltm•nts Al 31 March 2024. the charity had the following ftJlur8 minimum commitments under non- rancellable operating leases as lollows.. 2024 2023 Office 6qulprn8nt - Duè withln one year . Due b8tsveen one and fve yea 1,030 1.417 1,232 2,849 1.030 The English DominThn Congregation (Stone) Charitable Fund 57 Notes to the accounts Year lo 31 March 2024 24 Related party transactrons As members of the Congrè9alion, none of thg trustees have resources of their own as all eamings. pensions and othèr ino)rne have been donated to the charity under a Deed of Covenant. During the yèar. the total amount donated by the trustees to thg charity wa$ £101.77812023- £112.4681. There were no other related party transaciions during the year {2023- none). 26 Ultlmate control The charity, v4hich is con5tituled as atrusl, wascontrolled Ihroughoullho period by th8 English Dominican Congregation of Sisters by virtue of the fact thal the Prioress General appoints the Irustegs. Thè Congrggalion does not hold any asseis, incur liabllrt￿S or enter into any Ir¥nsactions in tts own right. ABsets and liabilities of thg Congregation are vested in the trustees of the Charity. who undertake all transaclions entered into in the coursg of the CongregatKJn's tharflablg adp111￿. 26 P08t balanco sheet •¥•nt In M8r¢h 2024 Ihe sisters vacated the site 81 Stone and, ho￿ng oblaingd planning P8Tmlsslon lo develop ihe site. have marketed the site for sale otther as a wholg of as separatg parts. They have a￿pIed an offer from a developer who intends lo devtrlop the $lle lo provide senior li￿n9 ac£omrnodatKJn and lo buihj a new care home. Th18 wll result In St Mary'8 Hom9 being njn by a differenl organisalion bul will ènsuitr a legacy of care by Iha Congregation on Ihe sile. Whilst ihe details of the sale are finalised. tho trusleos rema5n o)mmNt6d lo St Mary'8 Hoffle and its residents and staff. Head$ of Terms pertaining lo the sale were slgned in June 2024 and the dglails of the saL9 are curTently in the process of being finalised. bul il is hoped that the sale wll complole by January 2025. Once the sab is ¢xmpleled, Ihe Home will effectivgty transfer as a going tsjncem to the new who will assume full ro$pon8ibilrty for the continued operalion of the Home. In lems ofthe finanual impad of the sale on the overall charity. the Home conlribules income of circa £2.9m per annum and incxjrs expenditure of circa £3.1m per annum (based on 2023r24 r8suts) and this will gffectwety fall off foll(Y4ving cornpletion of the sale. The sale will also see the remov81 of the carrying value of tho Convent and the Horne from tho ¢h8rty's balance shael. whith as al 31 March 2024, amounted lo circa £1.8m (based on a deemed historic ￿$1}. There are no indicators of the ¢8rrying valuo being impaired based on the Heads of Terms agreed. The English Dominv*n Congregation {Slonel Charrtable Fund 58