2025-08-31-accounts

The English Dominican Congregation (Stone) Charitable Fund

Annual Report and Accounts

Period 1 April 2024 to 31 August 2025

Charity Registration Number 271922

Contents

Reports

Reference and administrative details of the
charity, its trustees and advisers	1
Trustees’ report	3
Independent auditor’s report	33
Accounts
Statement of financial activities	37
Comparative statement of financial activities	38
Balance sheet	39
Statement of cash flows	40
Principal accounting policies	42
Notes to the accounts	49

The English Dominican Congregation (Stone) Charitable Fund

Reference and administrative details of the charity, its trustees and advisers

Trustees Administrative address Telephone Website Charity registration number Auditor Principal bankers Investment managers

Margaret Teresa Billington - (Sister Mary Teresa) (ex-officio – Prioress General) Angela Mary Leydon - (Sister Angela Mary) Jane Ann Alves - (Sister Mary Julie) Tamsin Geach - (Sister Mary Tamsin) (from 22 July 2025) Ann Swailes - (Sister Ann Catherine) (from 22 July 2025) Mavis Burton - (Sister Mary David) (until 22 July 2025) Susan Perks - (Sister Mary John) (until 22 July 2025) St Rose’s House Beeches Green Stroud Gloucestershire GL5 4AE 01453762449 www.stonedominicans.org 271922 Buzzacott Audit LLP 130 Wood Street London EC2V 6DL The Royal Bank of Scotland plc PO Box 412 62/63 Threadneedle Street London EC2R 8LA BlackRock Investment Management (UK) Limited 12 Throgmorton Avenue London EC2N 2DL

The English Dominican Congregation (Stone) Charitable Fund 1

Reference and administrative details of the charity, its trustees and advisers

Solicitors Ansons Solicitors Limited St Mary’s Chambers 5-7 Breadmarket Street Lichfield WS13 6LQ Stone King LLP Boundary House 91 Charterhouse Street London EC1M 6HR Property consultant Avison Young 65 Gresham Street London EC2V 7NQ

The English Dominican Congregation (Stone) Charitable Fund 2

Trustees’ report Period to 31 August 2025

The trustees present their report together with the accounts of The English Dominican Congregation (Stone) Charitable Fund (“the charity”) for the period from 1 April 2024 to 31 August 2025. Comparative information where referenced in this report is with respect to the year ended 31 March 2024.

The accounts have been prepared in accordance with the accounting policies set out on pages 42 to 48 of the attached accounts and comply with the charity’s trust deed, applicable laws, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

INTRODUCTION

The English Congregation of Dominican Sisters was formed in 1929 by an amalgamation of five existing Dominican Congregations, the oldest of which was that of Stone, which was founded in 1845.

The Congregation has vested all the property used for its purposes in England in the trustees of a charitable trust dated 13 July 1976 known as The English Dominican Congregation (Stone) Charitable Fund. The charity is registered under the Charities Act 2011, Charity Registration Number 271922.

MISSION

The object of the English Dominican Congregation (Stone) Charitable Fund is the furtherance of the Roman Catholic faith. The charity aims to support the religious and other charitable works carried on by the members of the Congregation and to care for those members throughout their lives within the Congregation.

When setting the objectives and planning the work of the charity for the year, and when encouraging the work of individual sisters, the trustees have given careful consideration to the Charity Commission’s guidance on public benefit.

The ministries of the sisters of the Congregation, all of which benefit numerous members of the general public, fall into the following main areas:

•  Worship and prayer

Members of the Congregation are committed to personal and liturgical prayer which is reflected in their daily timetable. They are obliged to study in order to further their knowledge of the Christian faith. They give preference to the study of sacred scripture and the teaching of the Church, so that they in turn can instruct and help others. Members of the Congregation also celebrate and pray with the wider community including people of other faiths. They do this through the provision of spiritual guidance or by just being available to listen in times of need. Some sisters give talks and guide retreats and prayer groups. The sisters respect people of no faith and try to help them in appropriate ways.

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Trustees’ report Period to 31 August 2025

MISSION (continued)

•  Social and pastoral work

Many members of the Congregation are involved in various forms of social or pastoral work in different parts of the country, including care of the elderly and people with special needs, support of families, and chaplaincy work in educational and healthcare establishments. In particular, the sisters aim to help the poor and marginalised in society regardless of their personal background, faith, gender or individual circumstances.

•  Care of the elderly

During the year the sisters provided care and assistance to the elderly at St Mary’s Home, Stone. The Home provides care both for members of the general public and for members of the Congregation in need of nursing care.

 Education

During the year the charity operated an educational establishment, St Rose’s School in Stroud, Gloucestershire providing education and care to 2-19 year olds. The Congregation also provides a small unit for 19-25 year olds on the site of St Rose’s School called St Martin’s. St Rose’s School together with St Martin’s, collectively hereinafter referred to as “St Rose’s”, aims to provide the highest quality service to children, young people and young adults with physical disabilities, learning disabilities and associated complex medical, sensory and communication difficulties in the age range 2-25 years. The establishment aims to undertake this with due regard to the Catholic traditions from which the provision has developed, particularly those of the Dominican order. A commitment to provide support and professional development for staff, thereby enabling them to meet the demanding expectations of their role, is central to this mission.

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Trustees’ report Period to 31 August 2025

ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES

Care of the members of the Congregation

In common with many religious congregations in Great Britain, the age profile of the members of the Congregation is increasing as existing members grow older and the number of new vocations becomes minimal. The age profile of the Congregation is shown graphically below:

The Congregation has an obligation, both moral and legal, to provide care for its members, none of whom have resources of their own and all of whom have devoted a significant part of their lives to the care of the elderly, poor and marginalised in society. As the age profile of the Congregation increases, so too does the need to provide increasing and increasingly expensive care for the sisters.

At the end of August 2025, five members of the Congregation were receiving care in the charity’s own nursing home, and another was receiving care in a care home in Gloucestershire. Over the next few years, the trustees do not expect the number requiring nursing care to decrease. As a consequence the trustees are giving careful consideration to the impact of this on the work of individual members of the Congregation, the property requirements of the Congregation and the financial implications. In this regard, the aims of the trustees over the forthcoming years include:

•  Ensuring all members of the Congregation receive the high level of care they require to provide them with the quality of life they have a right to expect;

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Trustees’ report Period to 31 August 2025

ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES (continued)

Care of the members of the Congregation (continued)

•  Reviewing the charity’s properties used as community houses and assessing their suitability as homes for the elderly and frail. Those identified as being unsuitable will be sold, adapted or utilised for other purposes in line with the charity’s mission; and

•  Enabling all members of the Congregation to continue with their individual ministries for as long as possible.

Enabling and supporting members in a variety of religious and charitable works

The religious and charitable works of individual members of the Congregation can be divided into four principal areas; worship and prayer, the social and pastoral work of the sisters, the ownership and operation of a nursing home for the elderly, and the ownership and operation of a school. Each of these is considered in turn below:

Worship and prayer

Members of the Congregation are committed to personal and liturgical prayer which is reflected in their daily timetable. They are obliged to study in order to further their knowledge of the Christian faith. They give preference to the study of sacred scripture and the teaching of the Church, so that they in turn can instruct and help others. Members of the Congregation also celebrate and pray with the wider community including people of other faiths. They do this through the provision of spiritual guidance or by just being available to listen in times of need. Some sisters give talks and guide retreats and prayer groups. The sisters respect people of no faith and try to help them in appropriate ways.

The charity is committed to helping as many people as possible to come into contact with the sisters and also join them in worship. Their faith, thereby strengthened, is put into action in a number of activities which include:

• Promoting the values and vision set out in the Gospel including the promotion of human dignity, teaching respect of different cultures, working for a society based on justice and peace and encouraging care and respect for all creation;

• Offering prayer groups, giving members of the public from all walks of life the opportunity to escape the stresses of everyday life for a short time and take time for quiet contemplation and reflection and the chance to study and consider the Gospel;

• Engaging in more outgoing worship through youth groups, summer schools etc;

• Providing religious instruction and supervision;

• Providing retreats where those who attend can reflect in a peaceful atmosphere rooted in Gospel values; and

• Praying with those who are house bound, sick or dying.

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Trustees’ report Period to 31 August 2025

ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES (continued)

Enabling and supporting members in a variety of religious and charitable works (continued)

Social and pastoral work (continued)

Many members of the Congregation are involved in various forms of social or pastoral work in different parts of the country, including care of the elderly and people with special needs, support of families, as well as chaplaincy work in educational and healthcare establishments. Two sisters lecture in Theology, Scripture, & Ecumenism at Blackfriars Studium in Oxford and Allan Hall Seminary in London and one sister teaches Latin at Blackfriars. Another sister teaches Latin online, and another teaches Theology. In particular, the sisters aim to help the poor in society regardless of their personal background, faith, gender or individual circumstances. Prior to vacating the convent on Stone, the sisters shared the convent premises with diverse groups: e.g. groups of pilgrims, St Vincent de Paul Society, and clubs for the elderly. When public events, i.e. pilgrimages, concerts, talks, were arranged in the adjacent church, the Congregation’s convent premises were used for serving refreshments.

The following are examples of the social and pastoral work undertaken by individual sisters:

• Monthly talks on catholic teaching with refreshments and the opportunity to pray with the sisters in the chapel;

• Twice yearly days of recollection for women, with inputs from the sisters, shared prayer, and the opportunity for personal prayer and reflection in the house, chapel and garden;

• ‘The Poustinia’-self-contained, self-catering accommodation in the garden in the Cambridge house, for quiet days or short retreats, providing a space for prayer and reflection in solitude with the opportunity to join the sisters for prayer in their chapel;

• Meetings and social events for the First Communion catechists of the local parish, making use of the house, chapel and garden;

• Individual sisters regularly welcome visitors into the Cambridge house for one-to-one pastoral meetings and spiritual direction;

• Visting the sick and housebound;

• Presenting programmes on Radio Maria;

• First Communion Programme in local parishes, including sessions for parents and a retreat day for the children in addition to their regular classes;

• Giving sermons as an ecumenical guest preacher in various college chapels;

• Leading retreats, days of recollection and study days for a wide variety of audience including monastic communities, oblate groups, parishes and diocesan clergy;

• Giving talks on spiritual topics in local parishes;

• Work as voluntary hospital chaplain;

• Giving webinars on spiritual topics for the Tablet.

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Trustees’ report Period to 31 August 2025

ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES (continued)

The objectives of the trustees in this area include:

• Enabling all members of the Congregation to carry out meaningful social and pastoral work within the community after assessing their skills and the needs of the local area;

• Encouraging and motivating members to work with and assist the poor, elderly and marginalised; and

• Wherever possible ensuring sisters are remunerated for such work by way of a stipend to cover expenses. Such income is donated to the charity and thereby contributes to defraying the costs and ensures that the charity may continue with this work as long as possible.

Care of the elderly

St Mary’s Home provides residential and nursing care facilities for the elderly and is administered in accordance with the charitable objects of The English Dominican Congregation (Stone) Charitable Fund as specified in the trust deed.

The philosophy of care at the Home is to ensure a homely, friendly and open atmosphere among residents and staff whilst maintaining the privacy, dignity, rights and quality of life of all residents.

The Home provides both long-term care and end of life care to those suffering from terminal illness for both members of the general public and members of the Congregation.

There are 59 rooms at St Mary’s, 42 with en-suite facilities and a number with separate sitting areas. Each room has a television point and is linked to the call system. All areas of the Home are accessible by either stairs or lifts, and residents are encouraged to take meals in the dining room. Other facilities include a chapel, hairdressing salon, conservatory and several lounges. The Home is set in large attractive gardens, which house a summerhouse.

In operating St Mary’s Home, the trustees aim to:

• Provide excellent residential and nursing care to elderly men and women, ensuring that their needs are met fully and that they enjoy as high a quality of life as possible;

• Employ high quality staff to care for the elderly residents ensuring that all such staff obtain the necessary qualifications and training needed for their work;

• Ensure that the Home meets the requirements of the Care Quality Commission and that any recommendations arising from inspections are acted upon quickly and effectively; and

• Maintain the financial security of the Home through careful budgeting and by setting fees at levels that ensure the viability of the Home is not threatened.

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Trustees’ report Period to 31 August 2025

ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES (continued)

Education

St Rose’s is located in Stroud and has been recognised as a Non-Maintained Specialist School by the Department for Education since 1912. It is a Dominican foundation and the philosophy of St Rose’s is stated in its Mission Statement:

Its mission is working together, to help each person flourish educationally and spiritually, to reach their full potential in a Christian community and believe in their worth as children of God. And its vision is to be an exceptional Catholic specialist school and college delivering the highest quality education, therapy and care for children and young adults, to enable them to achieve their maximum independence and develop as valued members of society.

St Rose’s is highly regarded for its comprehensive approach to the education and care of children and young people with major physical disabilities and who often have additional visual or hearing impairment and complex health needs.

St Rose’s admits young people between the ages of 2 and 25 years with children this year coming from 7 local authorities. In addition to residential and day placements, short breaks are provided. In 2024-25, there were 105 young people on roll, of which St Roses were Early Years - 27, Reception to Year 5 - 40, Post 16-19 - 7 and St Martin’s – 31. The children in the main school are nearly all wheelchair users and many have communication difficulties. St Rose’s contains Early Years, Primary, Secondary, 16-19, and Post-19 departments. Local authorities pay the students’ fees for St Rose’s. Vigorous steps continue to be taken to make savings and efficiencies in the running costs of St Rose’s.

St Rose’s has its own therapy and support staff, and the multidisciplinary team of teachers, tutors, therapists, care assistants, and nurses all work together to provide the best teaching, therapy, and care for each individual student. There is nursing cover on site throughout the day and evenings. Regular wheelchair and sling clinics are held in School and College, which is also open to pupils from other schools. St Rose’s strives to give each student as much independence and opportunity for decision making as possible, placing great emphasis on helping each individual student to develop their communication and mobility skills, as it is through these skills that they can take steps to achieving greater independence.

Volunteering

Throughout the year, the members of the Congregation gave their time to assist the poor and marginalised and those in need. The majority of members receive no financial reward for this work which contributes to the overall achievement of the charity’s objectives. In addition, members are involved in administering the work of the Congregation and charity - without their contribution the charity would not be able to function as effectively or fully as it does.

ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES (continued)

Volunteering (continued)

Details of the areas in which members gave their time during the year are shown in the table below.

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Trustees’ report Period to 31 August 2025

----- Start of picture text -----
No. of Hours
Area Volunteers volunteered
Nursing home 5 4,200
Special school 2 800
Counselling 2 270
General parish work & catechesis 5 4,700
Administration 5 5,300
Hospital visiting 3 750
PAT therapy 1 1,040
23 17,060
----- End of picture text -----

Grants, donations and support of missionary work and ministry

Grants, donations and other payments in support of missionary work and ministry are decided on by the trustees in consultation with other members of the Congregation as appropriate. In the main, the charity supports the work of those organisations whose work is within the objects of the charity, both in the United Kingdom and overseas. However, the charity does not regard itself as a grant making entity and applications for grants and donations are not invited.

ACHIEVEMENTS AND PERFORMANCE

The paragraphs below outline briefly the charity’s achievements during the year in each of its main activities. Certain details have already been recorded in the earlier part of this report.

Care of the members of the Congregation

During the year the charity supported and enabled its members to continue to engage in a variety of ministries such as teaching and nursing, family counselling, working in hospital and university chaplaincies, working with youth and the homeless, visiting the sick and housebound, facilitating study groups for people with special educational needs, and giving lectures and talks on a wide spectrum of subjects to a wide variety of people.

Over the next few years, it is inevitable that the cost of caring for members will continue to increase due to the rising expense of social and dementia care.

Worship and prayer

Throughout the year the sisters continued with their own private worship and their spiritual development and training. All sisters attended retreats which provided an opportunity for renewal and quiet contemplation.

Social and pastoral work

Details of the many activities in which the sisters are engaged have already been noted above.

While the trustees appreciate the commitment and dedication of the sisters, they are very aware that over the next several years, these activities will diminish significantly, due to the increasing age profile.

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Trustees’ report Period to 31 August 2025

ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES (continued)

Social and pastoral work (continued)

The trustees will continue to assist the sisters in any way possible and will encourage them to remain active and involved for as long as possible. However, they will maintain a vigilant eye on sisters who might want to stay in ministries when they are really no longer able to cope. The trustees will instead try to guide these sisters towards a less demanding, gentler ministry.

ACHIEVEMENTS AND PERFORMANCE

Care of the elderly: St Mary’s Home, Stone

The Registered Manager at St Mary’s is Natalie Dibble. Natalie was appointed in May 2018 having been a senior member of the nursing team at St Mary’s for over twelve years. She is passionate about the care of the elderly and highly committed to the home, its staff and residents.

The Home was inspected by the Care Quality Commission in June 2025 and was rated ‘Good’. The report said that:

The Registered Manager demonstrated a commitment to delivering high-quality, personcentred care through collaboration, safety, and continuous improvement. Strong partnerships with healthcare professionals were evident and supported safe care delivery.

Staff were enabled to perform their roles efficiently through safe recruitment practices, continuous training, and opportunities for personal development. The registered manager also actively celebrated innovation, with staff taking on champion roles in specialist areas such as oral health, contributing to award winning practice.

• People, relatives, and staff continue to be complimentary about the service, the registered manager and management team.

• The culture across the service is still one of openness and learning, with incidents investigated and lessons used to drive improvement

• People felt are well cared for and all feel they can raise concerns if they need to and felt confident these would be addressed.

• People are supported to practise their faith if they wished to do so.

• Staff felt equally well supported and there are extra support mechanisms in place.

• Learning was encouraged and shared, with staff empowered to be champions of areas they were passionate about

• The Registered Manager is proactive and involved in many external organisations and schemes in order to continuously improve.

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Trustees’ report Period to 31 August 2025

ACHIEVEMENTS AND PERFORMANCE (continued)

Care of the elderly: St Mary’s Home, Stone (continued)

• The Registered Manager is fully aware of their duty of candour.

• Professionals confirmed the home worked in partnership.

The trustees and management team were delighted by the status of the Home returning to Good after the inspection.

Two of the trustees are still members of the Management Board which also includes the Registered Manager and meets at regular intervals to review the operation and performance of the Home. Julie Birks, the Deputy Manager, is the appointed Safeguarding Officer for the Home and has attended a number of training courses to ensure that the Home is fully compliant with all current legislation.

Over the course of the year the Home provided care for 85 elderly residents who required nursing, residential, palliative or respite care. Occupancy levels during 2024/25 were slightly lower than the previous year at 80.62%.

The Home continues to specialise in palliative or end of life care and works closely with two local hospices and has staff who specialise in palliative care. The Home strives to ensure that the care provided ensures that residents have a peaceful and dignified death surrounded by their loved ones if possible and families are encouraged to spend as much time as possible at the Home during this time. Relatives of residents who have died during the year frequently express their thanks and gratitude for the high standard of care received and continue to support the Home in a voluntary capacity.

There is an Activities Team within the Home whose role is to create, plan, organise and coordinate a stimulating and developing activity programme to enhance the quality of life of each resident in the Home that will promote the health, dignity and wellbeing of each resident and enhance the quality of their lives. The activities programme has now returned to prepandemic operation and the Activities Team, supported by care staff, worked hard to ensure that residents remain stimulated and entertained whether in group activities or on a one-toone basis. The team are supported by visiting entertainers included singers and pantomime productions, and relatives are welcomed to join in with activities when visiting. There are also regular religious services and a Summer and Christmas Fayre which were very well supported.

The trustees wish to put on record their appreciation of and gratitude to all the staff for their outstanding contribution to St Mary’s.

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Trustees’ report Period to 31 August 2025

ACHIEVEMENTS AND PERFORMANCE (continued)

Education: St Rose’s School

In 2024-25, there were 105 young people on roll, from 7 Local Authorities, of which St Roses were Early Years - 27, Reception to Year 5 - 40, Post 16-19 - 7 and St Martin’s – 31.

Strategic Aim 1: Exceptional leadership and management of the school, college and

nursery

Governors continue to support the school by providing support and challenge. Governors have attended training and Link Governor visits are scheduled in for the year where possible.

Quality assurance plans have been updated for education and residential areas.

Training continues to be high on the agenda for all staff and a particular area of focus has been to develop subject leaders as well as make use of the expertise in school and college by the delivery of in-house training.

We are guided by robust safeguarding principles and training with a great deal of effort going into our early help offer, ensuring families feel supported as much as possible. Our newly appointed Transitions Coordinator offer a high level of support to new families to ensure smooth transitions into school.

We appointed a head of school and head of college who took up their appointments in September 2025.

Strategic Aim 2: Exceptional education and outcomes for learners across the nursery,

school and college

The detailed aims, strategies and actions towards the education initiatives can be found in the Development Plan (St Rose’s and Nursery) and the Quality Improvement Plan (St Martin’s).

The Self Assessment Report (SAR) and Self Evaluation Form (SEF) reflect the strengths of the nursery, school and college area of development.

The most recent Ofsted inspection for St Martin’s took place in January 2023 where we remained good and received a very positive report from Ofsted.

The most recent Ofsted inspection for St Rose’s took place in June 2025 where we remain good overall and action points are being addressed. We received outstanding judgements for behaviour and attitudes and personal development.

Nursery

Numbers remain steady in the nursery, however there are now more children with additional needs who have My Plan or My Plan+ in place. The nursery staff support families to complete paperwork for education, health and care plans if appropriate. The nursery acts as a feeder to St Rose’s School.

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ACHIEVEMENTS AND PERFORMANCE (continued)

Education: St Rose’s School (continued)

Strategic Aim 2: Exceptional education and outcomes for learners across the nursery, school and college (continued)

Nursery (continued)

The new curriculum and assessment process since the Ofsted inspection, is embedded and the nursery provision received high praise from the Ofsted inspectors in June 2025

Nursery staff work in partnership with eternal agencies, including community therapists, the advisory teaching service and social care to ensure the needs of the children are met in an holistic way.

The nursery manager attends the Gloucestershire Early Years Forum ass the representative from a special school with a nursery class.

St Rose’s

Numbers have risen steadily again this year and the majority of students have met or exceeded their targets.

The parent survey showed 99.9% positive feedback.

Our ethos and values continue to be a focus for all that we do at St Rose’s and St Martin’s and we work with the Littleway Partnership and Clifton Diocese to ensure we keep up to date with new developments.

The Section 48 inspection held in February 2026 was extremely positive and St Rose’s received a judgement of outstanding across all areas.

Pupil Premium

The intent of the Pupil Premium strategy at St Rose’s school is to enable all students to have equal access to a broad and balanced curriculum, therapy and care, and to receive and individualised curriculum that provides stretch and challenge enabling students to progress and reach their potential.

Pupil Premium has been used to purchase resources, curriculum support, equipment, therapy and care support and specialise advice required to enable eligible students to access all areas of the curriculum, therapy and care in a way that is adapted to their individual needs.

St Martin’s

Numbers remain steady and students continue to make good progress. Curriculum documents are in place and recording paperwork has been simplified, reducing teacher workload.

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Trustees’ report Period to 31 August 2025

ACHIEVEMENTS AND PERFORMANCE (continued)

Education: St Rose’s School (continued)

Strategic Aim 3: Exceptional therapy and health outcomes for learners across the nursery, school and college

Therapy

Therapists continue to work closely with education and care staff to support positive outcomes for all of our students. This is in a variety of ways, including face to face contact with students, indirect work to support students across the waking day, close work with staff teams, direct work with families and joint working with NHS professionals.

All the therapy team contribute to the induction and ongoing training programme for staff, developing skill and expertise for our complex students.

The therapy team also work closely with external agencies with regard to communication and equipment needs.

Therapy continues to be embedded across the waking day curriculum

Care

OFSTED care inspection – 24 – 26 November 2025

We had our 3-day unannounced Ofsted care inspection from 24 – 26 November. We are really pleased and proud to maintain good overall.

All the national minimum standards were met.

The 5 points noted for improvement have been added to our care development plan.

We continue to have 6 unannounced visits per year from Changing Outcomes who support us with our quality assurance process regarding Non-Maintained Standards for residential special schools.

Care Quality Commission (CQC) Inspection

CQC use a mix of onsite and offsite monitoring to ensure the public have assurance as to the safety and quality of the care received at St Martin’s.

We continue to ensure we are compliant with CQC requirements with regular reviews of our quality assurance programme. Tony Hickey (Governor) has visited to review the documentation we have in place.

An external registered manager assists us with our quality assurance to ensure that we are compliant with CQC requirements.

We have a care manager in place who continues to focus on providing evidence for the CQC’s single assessment framework.

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Trustees’ report Period to 31 August 2025

ACHIEVEMENTS AND PERFORMANCE (continued)

Education: St Rose’s School (continued)

Strategic Aim 3: Exceptional therapy and health outcomes for learners across the nursery, school and college (continued)

Staffing

The period under review has seen the consolidation of the improved recruitment packs for staffing which has consistently increased the numbers of applications for vacancies. Recruitment media continues to be monitored to ensure efficient use of resources. The impact on staff rotas is still monitored daily to ensure we have the correct number of staff in place in all areas, as well as ensuring we have staff with the correct skills required to support each student. We are continually improving our on-boarding process and ensuring those who join us are supported during their induction and beyond. We are working towards a move to online induction training for staff where this is appropriate and maintaining balance of face to face where needed. Monitoring will continue on measurable impact on staff retention and work continues to progress for HR policies in response to employment legislation to support our staff.

Premises

During the period under review, the focus continues to be on maintaining systems and procedures to support St Roses in being fully compliant, co-ordinating requests for budgeted, approved internal as well as the routine maintenance/contractual work.

Work undertaken includes:

•  Compliance documentation

•  Emergency Plan

•  Fire Awareness training to all staff

•  Fire Evacuation Plan

•  Fire Wardens roles and responsibilities

•  Renewal of Glevum security contract

•  Health and Safety Induction

•  Premises Information box

•  Risk Assessments annual review

•  Service inspections by external contractors

•  Quentin House New Build Snagging completed

1. Asbestos survey and management

In October 2024, our Asbestos survey undertaken and it is confirmed that it is well managed and no new recommendations above the statutory 12 month review.

2. Service inspections by external contractors

During the period under review, 38 contractual inspections/servicing has been undertaken covering all areas of the school buildings, equipment and services.

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ACHIEVEMENTS AND PERFORMANCE (continued)

Education: St Rose’s School (continued)

3. Fire Awareness and GDPR training to all staff

This was undertaken at Inset day September 2024 to include 25 new starters. In-year new starters were trialled using online induction module and found to be successful. This will enable efficiencies in processes. This will ensure that St Roses remains compliant with the relevant legislation.

4. Fire risk assessment

This was undertaken in February 2025 by an external company resulting in three areas of remedial works including fire doors. This list continues to be monitored and reviewed regularly by Business Manager and Compliance Assistant.

5. Health & Safety Induction

This is now undertaken by the Business Manager and been revised to provide a comprehensive induction for new starters within their first week of starting with St Roses. This will remain as face-to-face induction process.

Volunteers/Premises Work

We are continuing with maintaining and developing nurturing relationships with volunteers from a number of companies. As a result during the year under review, four areas across the site were painted and decorated and outdoor landscaping and painted completed. We are also in discussions with companies for work to be done in the forthcoming academic year.

Building Project

Project 2030 remains ongoing with planning permission in place for the development of St Martins. Funding remains ongoing and the access to the college buildings will be the first phase of the project with funding secured for this already.

FINANCIAL REVIEW

Results for the period

A summary of the period’s results can be found on page 37 of this report and accounts.

The period covered by the financial statements is 17 months, from 1 April 2024 to 31 August 2025. The comparative period is for the year ended 31 March 2024.

Total income for the period ended 31 August 2025 was £13,420,295 (31 March 2024 – £8,409,266). The largest proportion of the charity’s income arises from the residential and nursing care home at Stone, Staffordshire and the school in Stroud. £4,385,222 (2024 – £2,875,984) of the income related to fee income for St Mary’s Home, Stone and charges related to St Rose’s School amounted to £6,078,892 (31 March 2024 – £3,592,908). The School also received other grant funding from central and local governments during the period of £1,519,873 (31 March 2024 - £1,043,025).

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Trustees’ report Period to 31 August 2025

FINANCIAL REVIEW (continued)

Results for the period (continued)

Donations, legacies and similar income continue to be important sources of income with one of the largest components being the salaries and pensions of individual members of the Congregation received under Gift Aid or Deed of Covenant. During the period ended 31 August 2025, these salaries and pensions amounted to £535,551 (31 March 2024 - £336,535).

Expenditure for the period ended 31 August 2025 totalled £13,210,014 (31 March 2024 – £8,761,047). £4,696,672 (31 March 2024 – £3,131,357) of this related to the operating expenditure of St Mary’s Home, Stone. Expenditure in connection with the operation of St Rose’s School amounted to £7,461,413 (31 March 2024 – £4,776,596).

Expenditure on maintaining the sisters and enabling them to carry out their work during the year amounted to £1,027,920 (31 March 2024 – £825,745). Premises expenditure continues to be high, as properties grow older and alterations become necessary to facilitate the needs of elderly sisters.

Net income before other gains and losses for the period amounted to £210,281 (2024 – net expenditure of £351,781). Investment gains were £394,294 (31 March 2024 – gains of £161,241) and the net income and increase in funds for the period ended 31 August 2025, therefore, amounted to £604,575 (2024 – net expenditure and decrease in funds £190,540).

Fundraising

The Home has a Fundraising Committee which comprises current and former members of staff, and a number of relatives, both past and present. Fundraising recommenced fully in the year following the end of the pandemic. Fundraising is all undertaken in-house and the Home does not use any professional fundraisers or commercial participators.

St Rose’s has an established fundraising group, The Friends of St Rose’s, which has regularly raised funds for equipment and improved facilities for the students. In recent years the trustees and governors agreed for the Friends of St Rose’s to be a separate entity. The Friends of St Rose’s have reassured the trustees and governors that they will not undertake any activity which is at variance with the Catholic tradition of St Rose’s or which will damage its reputation.

The charity and each of its constituent parts aim to achieve best practice in the way in which they communicate with donors and other supporters. Care is taken with both the tone of communications and the accuracy of data to minimise the pressures on supporters. Best practice is applied to protect supporters’ data. The charity never sells data, it never swaps data and ensures that communication preferences can be changed at any time. With the exception of significant appeals, for examples at St Rose’s, the charity manages its own fundraising activities and does not employ the services of Professional Fundraisers.

No complaints have been received by the charity, including the Home and the School, in relation to fundraising activities.

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Trustees’ report Period to 31 August 2025

FINANCIAL REVIEW (continued)

Investment policy

The charity’s investments comprise mainly pooled funds managed by BlackRock Investment Management (UK) Limited. The trustees are of the opinion that this enables the portfolio to strongly reflect the Catholic ethos of the charity.

The ethical policy precludes investment in any company which, after reasonable enquiry, clearly has significant profits from an activity which is contrary to the objectives of the Christian Church.

There are no restrictions on the charity’s power to invest.

The investment strategy is set by the trustees and takes into account income requirements, the risk profile and the investment manager’s view of the market prospects in the medium term.

The performance of the portfolio and the charity’s investment strategy are reviewed annually by the trustees.

Investment performance

The investment managers continued to invest in accordance with the trustees’ investment policy set out earlier in this report. Further details of the investment portfolio are detailed in note 13 to the attached accounts.

The major part of the charity’s listed investments are managed by BlackRock Investment Management (UK) Limited. The investments had a market value of £5,804,958 as at 31 August 2025 (31 March 2024 – £5,910,664). Net gains on the revaluation and disposal of investments amounted to £394,294 (31 March 2024 – gains of £161,241). Investment income on those listed investments for the period ended 31 August 2025 was £306,713 (31 March 2024 – £185,219).

The trustees continue to take a long-term view and believe their investment policy remains appropriate.

Reserves policy

The charity carries out a diverse range of activities and is responsible for the care and support of sisters whose average age is increasing and whose needs are changing. The trustees have examined the requirement for free reserves i.e. those unrestricted funds not invested in tangible fixed assets, designated for specific purposes or otherwise committed.

The trustees consider that, given the nature of the charity’s work, the level of free reserves should be approximately equivalent to between six and twelve months’ expenditure at any one time which approximates to between £4.7m and £9.3m. The trustees are of the opinion that this provides sufficient flexibility to cover temporary shortfalls in incoming resources and will allow the charity to cope and respond to unforeseen emergencies whilst specific action plans are implemented.

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Trustees’ report Period to 31 August 2025

FINANCIAL REVIEW (continued)

Financial position

The balance sheet comprises tangible fixed assets of £9,165,177 as at 31 August 2025 (31 March 2024 – £9,420,615), investments of £5,804,958 (31 March 2024 – £5,910,664), programme related investments of £2,633,690 (31 March 2024 – £2,633,690) and net current assets of £4,815,261 (31 March 2024 – £3,849,542) which are represented by total funds of £22,419,086 (31 March 2024 – £21,814,511).

These funds include permanent endowment of £12,830 (31 March 2024 – £12,830). These funds are “capital” and must be held indefinitely by the charity.

Also included in total funds is an amount of £296,757 (31 March 2024 – £105,332) which is restricted. These monies have been donated, and their use restricted to, specific purposes. Full details of these restricted funds can be found in note 18 to the accounts together with an analysis of movements in the year.

Funds totalling £9,165,177 (31 March 2024 – £9,420,615) have been set aside by the trustees as a tangible fixed assets fund representing the net book value of those tangible fixed assets held as part of unrestricted funds. A decision was made to separate this fund from the general funds of the charity in recognition of the fact that the tangible fixed assets (i.e. ostensibly the charity’s freehold properties) are essential to the day-to-day work of the charity and as such their value should not be regarded as funds that would be realisable with ease in order to meet future contingencies.

A further £11,545,451 (31 March 2024 – £10,753,179) has been designated by the trustees for various purposes. This figure includes £5,000,000 (31 March 2024 – £5,000,000) to provide for the sisters in their retirement. Full details of the designated funds can be found in note 20 to the accounts together with an analysis of movements in the year.

General funds (or free reserves) of the charity at 31 August 2025 totalled £1,398,871 (31 March 2024 – £1,522,555). The level of free reserves at 31 August 2025 falls short of the figure required by the above reserves policy based on expenditure incurred in the 17 month period ended 31 August 2025 pro-rated for a 12 month equivalent. However, over the past couple of years there have been costs that over the long term are not expected to recur. Therefore, the trustees are content with the level of free reserves at 31 August 2025 and believe that they are adequate but not excessive.

Tax exemptions

The beneficiaries of the work of the charity have the assurance that all of the income of the charity must be applied for charitable purposes in furtherance of the charity’s object of furthering the Roman Catholic faith. The charity enjoys tax exemption on income from its activities and on its investment income and gains provided these are applied for its charitable aims. As a charity, it is also entitled to a reduction of 80% on business rates on the property it occupies for its charitable purposes.

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Trustees’ report Period to 31 August 2025

FINANCIAL REVIEW (continued)

Tax exemptions (continued)

The financial benefits received as a result of these exemptions are all applied for the purposes of furthering the Roman Catholic faith by enabling and supporting the sisters to live out their faith and to put that faith into practice through a wide variety of religious and other charitable works, including the operation of a nursing home and a school.

FUTURE PLANS

In March 2024 the sisters vacated the site at Stone and, having obtained planning permission to develop the site, have marketed the site for sale either as a whole or as separate parts. They have accepted an offer from a developer who intends to develop the site to provide senior living accommodation and to build a new care home. This will result in St Mary’s Home being run by a different organisation but will ensure a legacy of care by the Congregation on the site. Whilst the details of the sale are finalised, the trustees remain committed to St Mary’s Home and its residents and staff.

Like many schools, St Rose's operates in a sector with many challenges, both financial and non-financial – see ‘risk management’ below. Demand for places are increasing which will inevitably have an impact on the School’s operations and future planning. Nonetheless, St Rose’s will continue to offer high quality education and care for young people with complex needs.

RISK MANAGEMENT

In line with the requirement for trustees to undertake a risk assessment exercise and report on the same in their annual report, the trustees have looked at the risks the Congregation currently faces in Britain and have reviewed the measures already in place, or needing to be put in place, to deal with them. The trustees have identified five main areas where risks may occur:

•  Governance and management;

•  Operational;

•  Financial;

•  Reputational;

•  Laws, regulations, external and environment.

Governance and management looks at the risk of the Congregation, and hence the charity, suffering from a lack of direction, and at the skills and training of its members and staff, and the good use of its resources.

Operational looks at the risks inherent in the charity’s activities including the operation of its nursing home and its school – the members engaging in inappropriate activities, the unsuitability of buildings, poor maintenance, shortcomings in the services provided, difficulties with staff, poor health and safety, lack of a disaster recovery policy, etc.

Financial risks include those arising as a result of poor budgetary control, inappropriate spending, poor accounting, inappropriate investment policies, etc.

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Trustees’ report Period to 31 August 2025

RISK MANAGEMENT (continued)

Reputational looks at possible damage to the Congregation’s and/or charity’s reputation.

Laws, regulations, external and environment looks at the effects of government policies, the consequences of non-compliance with laws and regulations and poor risk assessment in the charity’s care home and school.

Having assessed the major risks to which the charity is exposed, the trustees believe that by monitoring reserve levels, by ensuring controls exist over key financial systems, and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks.

The key risks for the charity, as identified by the trustees, are described below together with the principal ways in which they are mitigated:

• An analysis of the age profile of the members of the Congregation shows that the average age at 31 August 2025 was 76 years. The trustees are aware that there is both a moral and legal obligation to care for the older members. None of the sisters have resources of their own as all earnings, pensions and other income have been donated to the charity under a Gift Aid compliant Deed of Covenant. As the age profile increases, so too does the need to provide care for the sisters. Key elements of the management of this risk are: (a) ensuring that the charity has the available financial resources to finance this care both now and in the years ahead by setting aside assets in a designated fund, the value of which has been based on actuarial principles; and (b) ensuring that processes are in place to review regularly the ministries and needs of individual sisters encouraging those who need it to take on less demanding ministries and for identifying those who need extra care and help.

• Operationally the charity works with children and vulnerable adults including older people. The trustees recognise the absolute necessity of ensuring the protection and safety of all those that the charity serves. This means that sisters engaged in any ministry in Great Britain and all those who work or volunteer for the charity and work with children or vulnerable adults must obtain clearance from the Disclosure and Barring Service (DBS). The same applies for relevant staff employed by St Mary’s Home and St Rose’s School. The trustees are committed fully to implementing the policies of the Catholic Safeguarding Standards Agency (CSSA) and the Religious Life Safeguarding Service (RLSS). One of the sisters is responsible for ensuring this policy is adhered to in respect to all sisters, employees and volunteers. In addition, a Safeguarding Officer is nominated at both the Home and the School operated by the charity. Safeguarding training is compulsory for all staff.

• The charity's principal asset comprises listed investments, the value of which is dependent on movements in UK and world stock markets. The investments are managed by reputable investment managers who adhere to a policy agreed by the trustees. The performance of the portfolio is monitored and the investment strategy is assessed regularly to ensure it remains appropriate to the charity's needs – both now and in the future.

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RISK MANAGEMENT (continued)

• The trustees have considered the long-term future of the site at Stone and the associated risks are being mitigated through careful discernment and planning and by seeking detailed professional advice in respect to all aspects of the potential sale.

Home

The major risks for the Home are as follows:

•  Occupancy levels continue to be lower than pre-pandemic levels. This continues to be carefully monitored and staffing levels are tightly controlled to ensure the home continues to be viable.

•  The planned developed of the site has caused some concern among staff, however the Trustees and Management Team will continue to ensure that staff are informed and updated as frequently as possible.

•  The trustees are considering the long-term future of the site at Stone and the associated risks are being mitigated through careful discernment and planning and by seeking detailed professional advice in respect to all aspects of the potential project.

School

The major risks for the School are as follows:

•  St Rose’s is a key front line player, working in partnership with other children’s services. All Governors, staff and volunteers have a Disclosure and Barring Service check. Staff must be aware of local policies and procedures that must be followed and which are under the direction of the Local Safeguarding Children’s Board.

The safeguarding policy aims to outline the role that St Rose’s has, the procedures that staff should follow, and the guidance issued on student protection generally. All staff must ensure that the needs and safety of the students are at the forefront of their practice. In their day-to-day contact with individual students, teachers and other staff are particularly well placed to observe outward signs of abuse, changes in behaviour or failure to develop.

•  Long term forecasting of student numbers continues to be difficult but the recent number of new students has been encouraging. Governors are mindful of the continuing need to raise the profile of the organisation and to maintain and further enhance good working relationships with local authorities.

•  Governors continue to work to significantly improve the existing buildings and are progressing towards a three year development plan for buildings. Any planned work will be undertaken once budget is allocated and received. This includes allocation for short, medium and long term work in a sustainable model to build reserve levels.

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Trustees’ report Period to 31 August 2025

GOVERNANCE, STRUCTURE AND MANAGEMENT

Governance

In terms of Canon law, the Congregation is governed by the Prioress General and her General Council in Stone. They are elected every six years at a General Chapter or meeting of all members of the Congregation. Members of the General Council are chosen for their personal qualities, their understanding and experience of the ministries of the sisters throughout the Congregation, and to secure a good skills mix. Each community in the Congregation is governed by a local Prioress, who is elected by the local community and approved by the Prioress General and her Council. The Prioress General is required to visit each community at least once a year and throughout the year there is a system of accountability operational throughout the Congregation to ensure that the Prioress General and her Councillors are aware of the progress and development of the ministries carried out by the Sisters of the Congregation.

In terms of Civil law, the charity is governed by a trust deed dated 13 July 1976 and is a registered charity – Charity Registration No. 271922. The trustees of the charity are the five members of the General Council. As all trustees are members of the Congregation, they have a detailed knowledge of the work of the charity and of its structure. On being appointed, new trustees are required to spend time with those trustees leaving office. They also meet with the Congregation’s legal, accounting, investment and property advisers to obtain a full briefing of their responsibilities and the charity’s position.

Trustees

The names of the trustees who served during the year are set out as part of the reference and administrative details on page 1 of this annual report and accounts and brief biographical details on each of the trustees is given below.

Sister Margaret Teresa Billington O.P (Chair Person of the Trustees)

Appointed 4 August 2007 and re-appointed 4 August 2013, 4 August 2019 and 22 July 2025

Sister Teresa was born in Stoke-on-Trent and received her secondary education from the Dominican Sisters. She qualified as a chartered physiotherapist in 1965 and worked in a district general hospital and also treated professional sportsmen.

She joined the Congregation in 1968 and after formation worked in St Rose’s Special School in Stroud as a Paediatric Physiotherapist gaining further post graduate qualifications. She qualified as a doctor in 1988 after training in Bristol and after house officer posts in Bristol and Gloucester specialised in paediatrics. She changed specialities to general practice and qualified as a member of the Royal College of General Practitioners in 2000. After many happy and fulfilling years in general practice she has now retired.

She became a trustee in 2007,was re-elected in 2013 and was elected Prioress General of the Congregation for a term of office of six years in 2019. She is a Governor of St Rose’s School and a member of the Management Board of St Mary’s Home. She also serves on the selection committee for seminarians in the Clifton Diocese. Retirement has also given her time to pursue further study.

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Trustees’ report Period to 31 August 2025

GOVERNANCE, STRUCTURE AND MANAGEMENT (continued)

Trustees (continued)

Sister Margaret Teresa Billington O.P (Chair Person of the Trustees) (continued) Her interests include politics and economics and all sport except boxing and wrestling as she dislikes seeing people hurting each other. She has renewed her childhood interest in the piano and has begun to teach herself.

Sister Angela Mary Leydon

Appointed 4 August 2013 and re-appointed 4 August 2019 and 22 July 2025

Sister Angela was born in Dublin, Ireland and entered the Congregation at the age of 20, making her profession in 1966. She qualified as a teacher in 1974, working initially at a school in Newcastle-upon-Tyne. She developed an interest in learning sign language in order to communicate with deaf children and their parents who attended the local Parish Church. She subsequently qualified as a teacher of the deaf and was employed as a peripatetic teacher working in Newcastle and Middlesbrough. In 1993 she was appointed Coordinator of Hexham and Newcastle Diocesan Centre for the Deaf. Her work in this role included promoting and organising deaf awareness programmes for employees in the Health Service, in Social Services and in various businesses, which involved teaching sign language to the employees. The aim was to enable deaf people to have easier access to these services.

She also set up various projects in schools and clubs involving drama and sports to foster and promote integration between deaf and hearing young people. In 1993 she moved back to the mother house in Stone as Prioress.

In 1995 she was elected Prioress General of the Congregation, and was re-elected for a second term in 2001. During this time, she also served on the Council of the Dominican Sisters International. In this capacity, she was involved in setting up a solidarity fund to provide training for Dominican sisters, particularly in indigenous congregations in Africa and Asia-Pacific, in a range of fields including leadership, formation, the use of social media and theology. In 2007 she was again appointed as Prioress of the Stone community. At the General Chapter in 2013, she was re-elected as a member of the General Council for a six year term. In 2014 she was appointed as Novice Mistress for the Congregation and served in this office until 2022. At present she is the bursar of the community in Cambridge. She is also engaged as a catechist in the sacramental preparation of young children at Blackfriars Priory and Fisher House Catholic Chaplaincy, Cambridge.

Her hobbies include reading, listening to music, learning new skills in IT and watching various sporting events on television.

Sister Mary Julie Alves

Appointed 4 August 2013 and re-appointed 4 August 2019 and 22 July 2025

Sister Mary Julie was born on 3 April 1944, in Porthcawl, South Wales. She spent her childhood in Wales, Scotland and England where she easily absorbed the dialects of each country.

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Trustees’ report Period to 31 August 2025

GOVERNANCE, STRUCTURE AND MANAGEMENT (continued)

Trustees (continued)

Sister Mary Julie Alves (continued)

Sister Mary Julie entered the Congregation from Glasgow in 1963 and made her profession in 1964.

In 1967, Sister Julie began her training as a Home Economics Teacher at Digby Stuart College, London, with supporting courses being Social Studies and Divinity. Following her training in 1970 she taught Home Economics and Religious Education (RE) to young people for 40 years in main stream sector schools in Stoke on Trent and Birmingham and then in Special Education in the Congregation’s school in Stroud where she coordinated the Home Economics and RE departments.

The years in education were interspersed with further training with the Samaritans and courses linked with teaching children with special needs including an Advanced Open University Diploma in Education in Special Needs in Education, diplomas in speech and language disorders as well as in service training including safeguarding and health and safety. Throughout her years in Stroud Sister Julie supported and advised the Clifton Diocesan Education Department in the teaching of RE to children with special needs. During this time Sister Mary Julie was also involved in adapting the National Syllabus ‘Come and See’ for children with special needs.

Within the Congregation Sister Julie was elected Prioress of Newcastle-upon-Tyne from 1984 to 1986 and later Prioress of Stroud from 1987 to 1993. At the General Chapter of 2001 she was elected as a Councillor and Trustee for six years and again at the General Chapters of 2013 and 2019. In 2014 Sister Julie was elected Prioress of Stone, was re-elected in 2017 and again in 2020 and remained in post until 2024 when the convent in Stone was closed. She is a Governor of St Rose’s School and a member of the Management Board of St Mary’s Home.

Her interests are supporting families with children who have a disability, listening to music, musing in the countryside and meeting people.

Sr. Tamsin Mary Geach Appointed 22 July 2025

Sr Tamsin was born in Oxford in 1962. She was educated at St Mary’s Convent Cambridge and Somerville College Oxford, taking a degree in Classics. After University she spent several years working in schools, and eventually did a PGCE at Durham University. For several years after that she was actively involved in pro-life ministry, and accompanied women in the processing of their post-abortion grief. She entered the Congregation in 1996. After the novitiate in Boxmoor she spent five years in the convent in Stone working in St Dominic’s Priory school. During this time she completed a BA in divinity at the Maryvale institute. She was then posted to London, where she worked in Notting Hill an Ealing High School, briefly at St Benedict’s School, Heythrop College, and Blackfriars Oxford. While in London she completed an MA in Catholic theology at the Maryvale Institute

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GOVERNANCE, STRUCTURE AND MANAGEMENT (continued)

Trustees (continued)

Sr. Tamsin Mary Geach (continued)

When the Ealing Convent closed, she moved to the Cambridge Community, where she is now. She has continued to teach Latin and Greek at Allen Hall and Blackfriars, as well as online. She has also throughout her time as a religious sister engaged in catechetics, preparing children for the sacraments as well as some ministries with adults, including especially working with the ‘Teams of Our Lady’ a lay movement which supports marriage and family, as well as some individual spiritual accompaniment. During this time she completed an MA in pastoral theology at the Margaret Beaufort Institute in Cambridge.

She became a trustee in 2025.

Her interests include reading, painting, website development, and writing.

Sister Ann Catherine Swailes

Appointed 22 July 2025

Sister Ann Catherine Swailes was born in Bangor, Wales in 1966, and grew up in rural North Devon. She studied at Merton College, Oxford, gaining an honours degree in English Language and Literature in 1987 and a Diploma in Theology in 1990.

After graduation, she taught English and Religious Studies and worked with children with special educational needs in Oxford. She entered the Congregation’s noviciate in Cambridge in 2003 and made her first profession in Stone in 2005. From 2005-2010 she was assigned to St Dominic’s Convent, Ealing, where she worked at King’s College London, as a member of the Westminster Diocesan University Chaplaincy Team, alongside other Catholics and also ecumenical colleagues from the Anglican, Orthodox and Baptist traditions, and taught a series of adult education courses in theology and literature at the Benedictine Study and Arts Centre based at Ealing Abbey. During this period she also returned to theological studies, completing a Lectorate in Sacred Theology at Blackfriars, Oxford, in 2008.

Since 2010, Sister Ann has been a member of the formation community at St Catherine’s Convent, Cambridge, and Assistant Roman Catholic Chaplain to the University of Cambridge, working with two priests to provide pastoral care and Catholic formation to staff and students of the university. She combines this with lecturing at Blackfriars, Oxford, on a range of theological topics including ecclesiology, ecumenism and liturgy. She has contributed articles and reviews to a variety of Catholic journals and periodicals including The Catholic Herald, The Tablet, Magnificat, New Blackfriars and The Pastoral Review. She is also a member of the British Methodist-Roman Catholic Dialogue, and on the editorial board of Magnificat UK and Ireland.

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GOVERNANCE, STRUCTURE AND MANAGEMENT (continued)

Trustees (continued)

Sister Mary David Burton

Appointed 4 August 2019 and resigned 22 July 2025

Sister Mary David was born in Birmingham. She completed two-year’s teacher training at Kesteven Training College, Lincolnshire, and, an Anglican, was received into the Catholic Church at the end of the college course in 1958.

After two years teaching in a local state school, she entered the Congregation at Stroud in 1960, and her first profession was in 1962. She taught in Harpenden for two years, followed by a year’s study at St Catherine’s Centre, Portobello Road, before moving to Stone in 1967, where she made her final profession in 1968. She taught at St Dominic’s Priory School until 1992.

From 1992 to 1999 she was in Rome, in charge of the shop at Santa Sabina, the Dominican Order’s Headquarters. She returned to the UK for four years of monastic life in Bedfordshire, then returned to Stone for a short period before living alone at the recently vacated market convent at Leicester whilst it was marketed for sale. The sale completed in 2006. She spent two years in charge of a monastery guesthouse in Southern France. In Rome again 2008-

2016, she translated Italian texts into English for a Dominican Congregation. Now back at Stone, she is chantress, continues with some translation work and has been clearing the house for sale. She enjoys manual work and is interested in design, lettering, most practicalities. She was elected to the General Council at the General Chapter in 2019 and served as a trustee until July 2025.

Sister Mary John Perks

Appointed 4 August 2019 and resigned 22 July 2025)

Sister Mary John (Susan Perks) was born in Stoke on Trent and educated at Harpfields secondary school. She was gifted at art and on leaving school began a three year apprenticeship in pottery. Shortly after this she became interested in the Roman Catholic religion and began instruction with the parish Priest at Stoke and was received into the church in 1969. She began training as a nurse, and in her spare time would go over to Stone and work voluntarily in the old St Mary’s Home.

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GOVERNANCE, STRUCTURE AND MANAGEMENT (continued)

Trustees (continued)

Sister Mary John Perks (continued)

Sister qualified as a state enrolled nurse in 1967 and worked full time at St Mary’s leaving in order to enter the Congregation in 1972, at Stone. As a Novice Sister, she lived and worked voluntarily at St Christopher’s Hospice, at Sydenham, where she was able to specialise in terminal care, mainly cancer at the world renowned St Christopher’s. After making her first profession, she enrolled as a trainee Registered General Nurse. After qualifying she worked in St Catherine’s Home, Leicester and was eventually appointed Matron. She stayed at St Catherine’s until 2000 when she began working in the NHS as a senior staff nurse specialising in the care of stroke victims. She became a mentor to the newly qualified and assisted the carers in NVQ’s after several years before retiring in 2019. She continues to be involved in the health sector and visits several EMI care homes and a mental health hospital. She gives talks around animal therapy to preceptorship nurses from various units in Leicester as well as second year nurse students and Leicester University.

Sister has been a committed fundraiser and spent time in Bosnia during the Croat Bosniak War. She joined the Local Justice and Peace movement in 2019, and visits asylum seekers and travellers, and is a member of the Diocesan Vocations team. She works actively in the parish assisting the parish priest with administering communion and visiting the sick and is on two Parish Committees, St Peters and The Blessed Sacrament.

In her spare time Sister enjoys studying World War history, as well as continuing with art and craft work. She loves nature and all things pertaining to wildlife and she loves outside spaces in which to appreciate the same. She is an avid gardener and likes to work with children to help them reach their potential.

Above all Sister values her prayer life and space.

She was elected councillor at the 2019 General Chapter and served as a trustee until July 2025.

Statement of trustees’ responsibilities

The trustees are responsible for preparing the trustees’ report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these accounts, the trustees are required to:

•  select suitable accounting policies and then apply them consistently;

•  observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102);

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GOVERNANCE, STRUCTURE AND MANAGEMENT (continued)

Statement of trustees’ responsibilities (continued)

•  make judgements and estimates that are reasonable and prudent;

•  state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and

•  prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, applicable Charity (Accounts and Reports) Regulations and the provisions of the charity’s trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Structure and management reporting

The trustees are ultimately responsible for the policies, activities and assets of the charity. They meet monthly to review developments with regard to the charity or its activities and make any important decisions. When necessary, the trustees seek advice and support from the charity’s professional advisers including property consultants, investments managers, solicitors and accountants. The day-to-day management of the charity’s activities, and the implementation of policies, is delegated to the appropriate members of the Congregation or senior staff.

The Congregation comprises 20 sisters including two novices who live as part of four communities situated in the Midlands and South of England. As stated above, each community has a local Prioress elected by the community and ratified by the Prioress General and her Council. The local Prioress is responsible for both the needs and the care of the sisters in her community and she liaises regularly with the Prioress General. Two of the trustees are local Prioresses. All the trustees meet regularly with the Prioresses of the other houses of the Congregation to discuss developments and future plans.

The day-to-day responsibility for St Mary’s Home in Stone lies with the Registered Manager. Management reporting lines within the Home are clearly defined and the Management Board comprises The Manager; The Finance Manager; The Prioress General and the Prioress of Stone who meet regularly to discuss any issues that may arise.

The day-to-day responsibility for St Rose’s School (incorporating St Martin’s) is delegated to the Head Teacher and the Leadership Management Team. They are supported by a highly dedicated team of teachers, therapists, carers, domestic and clerical staff and work closely with the Board of Governors. Two of the trustees are also members of the School’s Board of Governors.

The English Dominican Congregation (Stone) Charitable Fund 30

Trustees’ report Period to 31 August 2025

GOVERNANCE, STRUCTURE AND MANAGEMENT (continued)

Key management personnel

The trustees consider that they, together with the Management Board of the Home and Leadership Management Team of the School comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis.

All trustees are members of the Congregation and as such their living and personal costs are borne by the charity. However, they receive no remuneration of expenses for their services as trustees or members of key management.

With regards to the Home, pay of the Registered Manager and the Finance Manager are reviewed annually by the remaining members of the Management Board (who are all trustees) and is normally increased in accordance with average earnings and also bench-marked with similar roles to ensure that the remuneration set is fair and not out of line with that generally paid.

With regards to the School, the remuneration of key management personnel is set by the Governing Body. Note is taken of market conditions, national and local pay scales and levels of performance. The Principal and Vice Principal have had an annual performance review, where their targets are agreed/reviewed with a panel of two Governors and the Strategic Improvement Partner (appointed by the full Governing Body).

Working with other organisations

The charity works closely with a number of other charities and public bodies which work in the fields of education and of providing care to the vulnerable and the elderly. Working together with other charities and public bodies enhances communication and understanding, thus enabling services to be provided more efficiently and effectively and avoiding duplication of effort. Examples of the organisations with which the charity has cooperated during the year are as follows:

•  Roman Catholic Dioceses of Birmingham, Clifton and East Anglia;

•  Care Quality Commission;

•  Gloucestershire County Council;

•  Stoke-on-Trent City Council;

•  Staffordshire County Council.

EMPLOYEES, VOLUNTEERS AND MEMBERS OF THE CONGREGATION

The trustees wish to record their recognition of the professionalism and commitment of all their staff, volunteers and the individual members of the Congregation. Their dedication and positive approach is very much appreciated.

The English Dominican Congregation (Stone) Charitable Fund 31

Trustees’ report Period to 31 August 2025

Approved by the Board of Trustees and signed on its behalf by:

M T Billington (Sister Mary Teresa) Chair of Trustees

Date: 12.06.2026

The English Dominican Congregation (Stone) Charitable Fund 32

Independent auditor’s report 31 August 2025

Independent auditor’s report to the trustees of The English Dominican Congregation (Stone) Charitable Fund

Opinion

We have audited the accounts of The English Dominican Congregation (Stone) Charitable Fund (the ‘charity’) for the period 1 April 2024 to 31 August 2025 which comprise the statement of financial activities, the balance sheet, the statements of cash flows, the principal accounting policies and the notes to the accounts. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the accounts:

•  give a true and fair view of the state of the charity’s affairs as at 31 August 2025 and of its income and expenditure for the period then ended;

•  have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

•  have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the accounts, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the accounts is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report and Accounts, other than the accounts and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.

The English Dominican Congregation (Stone) Charitable Fund 33

Independent auditor’s report 31 August 2025

Other information (continued)

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the accounts themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

•  the information given in the trustees’ report is inconsistent in any material respect with the accounts; or

•  sufficient accounting records have not been kept; or

•  the accounts are not in agreement with the accounting records and returns; or

•  we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities contained within the trustees’ report, the trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the accounts

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

The English Dominican Congregation (Stone) Charitable Fund 34

Independent auditor’s report 31 August 2025

Auditor’s responsibilities for the audit of the accounts (continued)

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

•  The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

•  We identified the laws and regulations applicable to the charitable company through discussions with management and trustees and from our knowledge and experience of the sector; and

•  We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and those charged with governance and review of minutes of trustees’ meetings and reports from regulatory bodies.

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

•  Making enquiries of management and trustees as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

•  Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

•  Performed analytical procedures to identify any unusual or unexpected relationships;

•  Reviewed journal entries to identify unusual transactions;

•  Carried out substantive testing of expenditure;

•  Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

•  Investigated the rationale behind significant or unusual transactions, if any.

The English Dominican Congregation (Stone) Charitable Fund 35

Independent auditor’s report 31 August 2025

Auditor’s responsibilities for the audit of the accounts (continued)

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

•  Agreeing financial statement disclosures to underlying supporting documentation;

•  Reading the minutes of meetings of the trustee board; and

•  Enquiring of as to actual and potential litigation and claims.

As a result of our procedures we did not identify any key audit matters relating to irregularities.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Buzzacott Audit LLP Statutory Auditor 130 Wood Street London EC2V 6DL

Date: 24 June 2026

Buzzacott Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

The English Dominican Congregation (Stone) Charitable Fund 36

Statement of financial activities Period to 31 August 2025

Notes	Unrestricted funds £	Restricted funds £	Endowment funds £	Period from 1 April 2024 to 31 August 2025 Total funds £	Year to 31 March 2024 Total funds £
Income from: Donations, grants and legacies 1 Other trading activities Investments and interest receivable 2 Charitable activities 3 Other sources Total income Expenditure on: Raising funds Charitable activities . Support of members of the Congregation and their ministry 4 . Provision of residential and nursing care 5 . Provision of education and care 6 . Grants and donations 7 Other expenditure Total expenditure Net (expenditure) income before investment gains and losses Net gains on the revaluation and disposal of listed investments 13 Net income (expenditure) before transfers 9 Transfers between funds 18 Net movement in funds Reconciliation of funds Fund balances brought forward at 1 April 2024 Fund balances carried forward at 31 August 2025	596,935 64,420 527,106 10,849,766 66,847	181,000 — — 1,134,221 —	— — — — —	777,935 64,420 527,106 11,983,987 66,847	483,542 53,430 320,709 7,511,917 39,668
	12,105,074	1,315,221	—	13,420,295	8,409,266
	1,246 1,017,964 4,696,672 6,399,270 20,363 2,400	— 9,956 — 1,062,143 — —	— — — — — —	1,246 1,027,920 4,696,672 7,461,413 20,363 2,400	8,667 825,745 3,131,357 4,776,596 14,163 4,519
	12,137,915	1,072,099	—	13,210,014	8,761,047
	(32,841) 394,294	243,122 —	— —	210,281 394,294	(351,781) 161,241
	361,453 51,697	243,122 (51,697)	— —	604,575 —	(190,540) —
	413,150 21,696,349	191,425 105,332	— 12,830	604,575 21,814,511	(190,540) 22,005,051
	22,109,499	296,757	12,830	22,419,086	21,814,511

All recognised gains and losses are included in the above statement of financial activities.

All of the charity’s activities derived from continuing operations during the above two financial years.

A full comparative statement of financial activities is shown on page 38.

The English Dominican Congregation (Stone) Charitable Fund 37

Comparative statement of financial activities Year to 31 March 2024

Notes	Unrestricted funds £	Restricted funds £	Endowment funds £	2024 Total funds £
Income from: Donations, grants and legacies 1 Other trading activities Investments and interest receivable 2 Charitable activities 3 Other sources Total income Expenditure on: Raising funds Charitable activities . Support of members of the Congregation and their ministry 4 . Provision of residential and nursing care 5 . Provision of education and care 6 . Grants and donations 7 Other expenditure Total expenditure Net expenditure before investment gains and losses Net gains (losses) on the revaluation of investments 13 Net expenditure before transfers 9 Transfers between funds 18 Net movement in funds Reconciliation of funds Fund balances brought forward at 1 April 2023 Fund balances carried forward at 31 March 2024	472,471 53,430 320,709 6,570,835 39,668	11,071 — — 941,082 —	— — — — —	483,542 53,430 320,709 7,511,917 39,668
	7,457,113	952,153	—	8,409,266
	8,624 814,802 3,131,357 3,823,145 14,163 4,519	43 10,943 — 953,451 — —	— — — — — —	8,667 825,745 3,131,357 4,776,596 14,163 4,519
	7,796,610	964,437	—	8,761,047
	(339,497) 161,241	(12,284) —	— —	(351,781) 161,241
	(178,256) (13,240)	(12,284) 13,240	— —	(190,540) —
	(191,496) 21,887,845	956 104,376	— 12,830	(190,540) 22,005,051
	21,696,349	105,332	12,830	21,814,511

The English Dominican Congregation (Stone) Charitable Fund 38

Balance sheet 31 August 2025

Notes	31 August 2025 £	31 August 2025 £	31 March 2024 £	31 March 2024 £
Fixed assets Tangible assets 12 Investments 13 Programme related investments 14 Current assets Stock Debtors 15 Short term deposits Cash at bank and in hand Liabilities Creditors: amounts falling due within one year 16 Net current assets Total net assets The funds of the charity: Capital funds: . Endowment funds 17 Income Funds: . Restricted funds 18 . Unrestricted funds: .. General funds .. Tangible fixed assets fund 19 .. Designated funds 20	2,002 484,088 207,686 4,944,575	9,165,177 5,804,958 2,633,690	2,710 387,335 880,213 3,176,801	9,420,615 5,910,664 2,633,690
		17,603,825 4,815,261		17,964,969 3,849,542
	5,638,351 (823,090)		4,447,059 (597,517)
		22,419,086		21,814,511
		12,830 296,757 1,398,871 9,165,177 11,545,451		12,830 105,332 1,522,555 9,420,615 10,753,179
		22,419,086		21,814,511

Approved by the trustees and signed on their behalf by:

M T Billington (Sister Mary Teresa) Chair of Trustees

Approved by the trustees on: 12.06.2026

The English Dominican Congregation (Stone) Charitable Fund 39

Statement of cash flows Period to 31 August 2025

Notes	Period from 1 April 2024 to 31 August 2025 £	Year to 31 March 2024 £
Cash flows from operating activities: Net cash provided by (used in) operating activities A Cash flows from investing activities: Investment income and interest received Proceeds from the disposal of tangible fixed assets Proceeds from the disposal of investments Net cash returned from (invested in) from short term deposits Purchase of tangible fixed assets Net cash provided by (used in) investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at 1 April 2024 B Cash and cash equivalents at 31 August 2025 B	248,233	(217,338)
	522,610 — 500,000 672,527 (175,596)	326,989 12,901 — (646,000) (631,937)
	1,519,541	(938,047)
	1,767,774 3,176,801	(1,155,385) 4,332,186
	4,944,575	3,176,801

Notes to the statement of cash flows for the year to 31 August 2025.

A Reconciliation of net expenditure to net cash flows from operating activities

	Period from 1 April 2024 to 31 August 2025 £	Year to 31 March 2024 £
Net income (expenditure) (as per the statement of financial activities) Adjustments for: Depreciation charge Net gains on investments Investment income and interest receivable Gain on disposal of fixed assets Decrease in stocks (Increase) decrease in debtors Increase (decrease) in creditors Net cash provided by (used in) operating activities	604,575 428,634 (394,294) (527,106) 2,400 708 (92,257) 225,573 248,233	(190,540) 261,464 (161,241) (320,709) 4,519 72 221,453 (32,356) (217,338)

The English Dominican Congregation (Stone) Charitable Fund 40

Statement of cash flows Period to 31 August 2025

B Analysis of cash and cash equivalents

Analysis of cash and cash equivalents
	31 August 2025 £	31 March 2024 £
Cash at bank and in hand Total cash and cash equivalents	4,944,575 4,944,575	3,176,801 3,176,801

No separate reconciliation of net debt has been prepared as there is no difference between the net cash (debt) of the charity and the above cash and cash equivalents.

The English Dominican Congregation (Stone) Charitable Fund 41

Principal accounting policies Period to 31 August 2025

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

Basis of preparation

These accounts have been prepared for the period from 1 April 2024 to 31 August 2025 with comparative information provided in respect to the year to 31 March 2024.

The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates and areas of judgement

Preparation of the accounts requires the trustees to make significant judgements and estimates.

The items in the accounts where these judgements and estimates have been made include:

•  The estimates of the useful economic life of tangible fixed assets used to determine the annual depreciation charge;

•  The provision required for any bad or doubtful debts in respect to fees receivable by St Mary’s Home, Stone or St Rose’s School, Stroud. Any such provision has been determined following an assessment of the likelihood of recovery on long-standing debts;

•  Assumptions adopted by the trustees in determining the value of any designations required from the charity’s unrestricted funds, in particular the sisters’ retirement fund; and

•  The estimates of future income and expenditure flows for the purpose of assessing whether the charity is a going concern (see below).

The most significant areas of judgement that affect items in the accounts are detailed above. With regard to the next accounting period, the year ending 31 August 2026, the most significant areas that affect the carrying value of the assets held by the charity are the level of investment return and the performance of the investment markets (see the investment policy and the risk management sections of the trustees’ report for more information).

The English Dominican Congregation (Stone) Charitable Fund 42

Principal accounting policies Period to 31 August 2025

Assessment of going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of at least one year from the date of approval of these accounts.

In forming their assessment of going concern, the trustees have considered the impact of the current macroeconomic and geopolitical climate on the charity’s operations, with a particular focus on its effect on the its financial position including its income, expenditure and reserves, its beneficiaries and its employees.

Whilst there will inevitably be challenges ahead, the trustees have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. They are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

Income recognition

Income is recognised in the period in which the charity is entitled to receipt, the amount can be measured with reasonable certainty and receipt of the income is probable.

Income comprises income from donations, grants and legacies; income from other trading activities (principally the hire of St Rose’s School’s facilities); income from fundraising; investment income and bank interest; and income from charitable activities deriving from educational fee income and government grant allocations at St Rose’s School, and fees receivable from the provision of residential and nursing care to the residents of St Mary’s Home.

Donations and grants, including salaries and pensions of individual religious received under Gift Aid or deed of covenant and grants received in respect to Covid-19, are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations or grants pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation or grant is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

In accordance with the Charities SORP FRS 102, volunteer time is not recognised.

Legacies are included in the statement of financial activities when the charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charity.

The English Dominican Congregation (Stone) Charitable Fund 43

Principal accounting policies Period to 31 August 2025

Income recognition (continued)

Entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title of the asset having being transferred to the charity.

Income from other trading activities comprises, in the main, charges made for the hire of facilities at St Rose’s School to third parties. It is accounted for on an accruals basis with the income being recognised when due contractually. The income is recognised at the amount due under the contract for hire less any rebates or discounts.

Income from fundraising comprises income raised as a result of local fundraising events held by either St Mary’s Home, Stone or St Rose’s School, Stroud. The income raised is accounted for when received i.e. on the day of the relevant event.

Investment income is recognised once the dividend (or similar) has been declared and the funds are receivable by the charity.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity.

Fees for the provision of education and care comprise agreements with local authorities in respect to specific students aged up to 19 years and funding from the Education Funding Authority (EFA) in respect to the provision for those students aged 19 and over. Such income is recognised when the charity is entitled to receipt under the relevant contractual arrangements and funding agreements. This is usually at the point at which the charity has commenced the provision of educational and care services in respect to the relevant students.

Fees derived from the provision of care to the residents of the care home are recognised as income in the period to which the residency relates and when it is probable that the income will be received.

Other miscellaneous income is measured at fair value and accounted for on an accruals basis.

The English Dominican Congregation (Stone) Charitable Fund 44

Principal accounting policies Period to 31 August 2025

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis and includes any attributable VAT which cannot be recovered. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follows:

• a. Expenditure on raising funds includes the costs associated with fundraising activities.

• b. Expenditure on charitable activities includes expenditure on the charity’s primary charitable purposes as described in the trustees’ report. Such costs include:

• (i) Expenditure on the support of members of the Congregation and their ministry. Such expenditure enables the members to carry out the work of the charity in the areas of the advancement of the Roman Catholic faith, the provision of residential and nursing care, the advancement of education and the relief of poverty.

• (ii) Expenditure incurred in providing education and care at the charity’s school, St Rose’s School, Stroud.

• (iii) Expenditure incurred in the provision of residential and nursing care facilities for the elderly at St Mary’s Home, Stone.

• (iv) Donations made to other organisations and to individuals. The making of grants and donations is not a central part of the charity’s activities. Donations are made only in cases where the trustees consider there is real need following a review of the details of each particular case. Grants and donations are included in the statement of financial activities when approved for payment. Provision is made for grants and donations approved but unpaid at the year end.

The majority of expenditure can be attributed directly to the above categories. Some staff costs are apportioned between the above categories of expenditure based on the time spent by staff on the relevant area. Governance costs which comprise the costs directly attributable to the governance of the charity, including audit costs and the necessary legal procedures for compliance with statutory requirements are allocated directly to the charitable activities to which they relate.

The English Dominican Congregation (Stone) Charitable Fund 45

Principal accounting policies Period to 31 August 2025

Tangible fixed assets

All assets costing more than £2,000, and with an expected useful life exceeding one year, are capitalised.

•  Non-specialised freehold land and buildings

• Non-specialised land and buildings are those designed as, and used wholly or mainly for, private residential accommodation, including residential convents. They are stated in the accounts at cost. Such land and buildings are not depreciated. Their value and condition are reviewed annually by the trustees, who are satisfied that their residual value is not materially less than their book value.

•  Specialised freehold land and buildings

• Specialised buildings comprise the Congregation’s care home and school.

Land and buildings comprising a care home and school are stated at cost, or where cost is not available, at deemed cost at the date of transition to Charities SORP FRS 102 based on a trustees’ valuation made in 1994 on the basis of continuing use with no value being attributed to freehold land. Depreciation on the property used by the care home, is provided at 2% per annum on a straight-line basis to write the buildings off over their estimated useful economic life to the charity. The properties used by the School are depreciated at rates between 2% to 5% per annum on a straight line basis.

•  Assets under construction

Assets in the course of construction are capitalised and shown as a separate category of tangible fixed assets. No depreciation is charged on such assets. On completion, the costs associated with bring the asset into being are transferred to the appropriate asset category and the assets are depreciated from that date using the rates set out above.

•  Furniture and equipment

• Computer equipment is depreciated at 33.3% per annum, on a straight line basis, in order to write off the cost of each asset over its estimated useful life.

Expenditure on the purchase and replacement of furniture and other equipment is capitalised and depreciated over periods of between five and twenty years, in order to write off the cost of each asset over its estimated useful life.

Certain items of furniture and equipment used by the School are depreciated at rates between 15% to 33% per annum on a reducing basis.

•  Motor vehicles

Motor vehicles are capitalised and depreciated at 25% per annum, on a straight line basis, in order to write off the cost of each vehicle over its estimated useful life.

The motor vehicles used by the School are depreciated at 25% per annum on a reducing basis.

The English Dominican Congregation (Stone) Charitable Fund 46

Principal accounting policies Period to 31 August 2025

Investments

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

The charity does not acquire put options, derivatives or other complex financial instruments.

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value where the investment is acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

Programme related investments

Programme related investments include buildings owned by the charity but occupied by St Dominic’s Priory School (Stone), an independent day school, for the advancement of education. The buildings are included on the balance sheet based at their carrying value as at the date on which the building was made available to St Dominic’s Priory School (Stone). All programme related investments are carried on the balance sheet net of any impairment provisions. Any gains (or programme related losses) arising from the disposal of such investments are credited (or debited) to the statement of financial activities in the year in which they arise.

Stocks

Stocks of miscellaneous education and other supplies are included on the balance sheet at the lower of cost and net realisable value.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of three months or less from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt.

They have been discounted to the present value of the future cash payment where such discounting is material.

The English Dominican Congregation (Stone) Charitable Fund 47

Principal accounting policies Period to 31 August 2025

Fund accounting

The general fund comprises those monies which may be used towards meeting the charitable objectives of the charity at the discretion of the trustees.

The tangible fixed assets fund represents the net book value of the charity’s freehold properties and other tangible fixed assets which represent unrestricted funds.

The designated funds are monies set aside out of general funds and designated for specific purposes by the trustees.

The restricted funds comprise assets and monies raised where their use is restricted to a specific purpose or donations subject to donor imposed conditions.

The endowment funds comprise monies which must be held indefinitely as capital. The income therefrom can be used for general purposes and is credited directly to unrestricted funds.

Services provided by members of the Congregation

For the purposes of these accounts, no value has been placed on administrative and other services provided by the members of the Congregation.

Foreign currencies

Income received and costs incurred overseas are translated into sterling at the rate of exchange in force at the year end. This policy does not comply with FRS 102 Section 30, but has been adopted to avoid over-complexity. The amounts involved are not material.

Pension costs

Contributions made in respect of the charity’s defined contribution scheme are charged to the statement of financial activities in the year in which they are payable to the scheme.

Full-time and part-time teaching staff at St Rose’s School employed under a contract of service are eligible to contribute to the Teachers’ Pension Scheme (TPS). The TPS, a statutory, contributory, final salary scheme is administered by Teachers’ Pensions on behalf of the Department for Education (DfE). As the School is unable to identify its share of the underlying (notional) assets and liabilities of the scheme, it has taken advantage of the exemption within section 28 of FRS 102 and has accounted for its contributions to the scheme as if it were a defined benefit contribution scheme. Contributions to the Scheme are charged to the statement of financial activities as they become payable in accordance with the rules of the Scheme.

Lease commitments

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the statement of financial activities on a straight line basis over the lease term.

The English Dominican Congregation (Stone) Charitable Fund 48

Notes to the accounts Period to 31 August 2025

1 Income from: donations, grants and legacies

	Un- restricted funds £	Restricted funds £	Period from 1 April 2024 to 31 August 2025 Total £	Un- restricted funds £	Restricted funds £	Year to 31 March 2024 Total £
Salaries and pensions of individual religious received under Gift Aid or Deed of Covenant Grants receivable Other donations and legacies	535,551 1,329 60,055 596,935	— — 181,000 181,000	535,551 1,329 241,055 777,935	336,535 — 135,936 472,471	— 6,257 4,814 11,071	336,535 6,257 140,750 483,542

2 Income from: investments and interest receivable

	Un- restricted funds £	Restricted funds £	Period from 1 April 2024 to 31 August 2025 Total £	Un- restricted funds £	Restricted funds £	Year to 31 March 2024 Total £
Income from listed investments . UK managed investment funds . UK equities Income from programme related investments Interest receivable . Bank interest	296,818 9,895	— —	296,818 9,895	183,506 1,713	— —	183,506 1,713
	306,713 142,625 77,768 527,106	— — — —	306,713 142,625 77,768 527,106	185,219 87,026 48,464 320,709	— — — —	185,219 87,026 48,464 320,709

The English Dominican Congregation (Stone) Charitable Fund 49

Notes to the accounts Period to 31 August 2025

3 Income from: charitable activities

	Un- restricted funds £	Restricted funds £	Period from 1 April 2024 to 31 August 2025 Total £	Un- restricted funds £	Restricted funds £	Year to 31 March 2024 Total £
Charges for residential and nursing care services Charges for educational and care services Other grants receivable from the Central and Local Government	4,385,222 6,078,892 385,652 10,849,766	— — 1,134,221 1,134,221	4,385,222 6,078,892 1,519,873 11,983,987	2,875,984 3,592,908 101,943 6,570,835	— — 941,082 941,082	2,875,984 3,592,908 1,043,025 7,511,917

Charges for residential and nursing care services represent fees charged in respect to residents at the charity’s residential and nursing care home, St Mary’s Home, Stone. The fees charged are stated net of charitable discounts of £200,278 for the period ended 31 August 2025 (31 March 2024 - £126,903).

Charges for educational and care services represent the fees and related income of the charity’s school, St Rose’s School, Stroud.

4 Expenditure on Charitable activities: Support of members of the Congregation and their ministry

their ministry
	Un- restricted funds £	Restricted funds £	Period from 1 April 2024 to 31 August 2025 Total £	Un- restricted funds £	Restricted funds £	Year to 31 March 2024 Total £
Premises Staff costs Sisters’ personal expenses Education, training and spiritual renewal Administrative and other expenses Governance costs (note 8)	416,849 41,388 309,933 89,575 125,479 34,740 1,017,964	— — — 9,956 — — 9,956	416,849 41,388 309,933 99,531 125,479 34,740 1,027,920	387,335 53,549 251,623 30,295 67,028 24,972 814,802	— — — 10,943 — — 10,943	387,335 53,549 251,623 41,238 67,028 24,972 825,745

The English Dominican Congregation (Stone) Charitable Fund 50

Notes to the accounts Period to 31 August 2025

5 Expenditure on charitable activities: Provision of residential and nursing care

	Un- restricted funds £	Restricted funds £	Period from 1 April 2024 to 31 August 2025 Total £	Un- restricted funds £	Restricted funds £	Year to 31 March 2024 Total £
Staff costs – care staff Staff costs – management and administration Premises Provisions Welfare of residents Other expenses Governance costs (note 8)	3,737,842 60,068 567,841 154,683 63,755 97,183 15,300 4,696,672	— — — — — — — —	3,737,842 60,068 567,841 154,683 63,755 97,183 15,300 4,696,672	2,249,862 228,077 384,542 119,383 54,636 82,977 11,880 3,131,357	— — — — — — — —	2,249,862 228,077 384,542 119,383 54,636 82,977 11,880 3,131,357

6 Expenditure on charitable activities: Provision of education and care

	Un- restricted funds £	Restricted funds £	Period from 1 April 2024 to 31 August 2025 £	Un- restricted funds £	Restricted funds £	Year to 31 March 2024 Total £
Staff costs Education supplies and welfare Premises Other expenses Governance costs (note 8)	5,182,474 346,220 568,163 250,738 51,675 6,399,270	1,046,932 6,953 8,258 — — 1,062,143	6,229,406 353,173 576,421 250,738 51,675 7,461,413	3,043,796 203,585 418,626 114,198 42,940 3,823,145	949,891 3,560 — — — 953,451	3,993,687 207,145 418,626 114,198 42,940 4,776,596

7 Expenditure on charitable activities: Grants and donations

Donations and grants payable during the year were as follows:

	Un- restricted funds £	Restricted funds £	Period from 1 April 2024 to 31 August 2025 £	Un- restricted funds £	Restricted funds £	Year to 31 March 2024 Total £
Donations and grants payable to individuals Donations and grants payable to institutions (£1,000 or more) Donations and grants payable to institutions (less than £1,000)	10,073 — 10,290 20,363	— — — —	10,073 — 10,290 20,363	7,109 3,093 3,961 14,163	— — — —	7,109 3,093 3,961 14,163

The English Dominican Congregation (Stone) Charitable Fund 51

Notes to the accounts Period to 31 August 2025

8 Governance costs

Governance costs
	Un- restricted funds £	Restricted funds £	Period from 1 April 2024 to 31 August 2025 £	Un- restricted funds £	Restricted funds £	Year to 31 March 2024 Total £
Audit and accountancy . Generalate and communities . St Mary’s Home . St Rose’s School Other professional fees . St Rose’s School	34,740 15,300 20,000 31,675 101,715	— — — — —	34,740 15,300 20,000 31,675 101,715	24,972 11,880 16,260 26,680 79,792	— — — — —	24,972 11,880 16,260 26,680 79,792

9 Net income (expenditure) for the year

This is stated after charging:

	Period from 1 April 2024 to 31 August 2025 £	Year to 31 March 2024 £
Staff costs (note 10) Auditor’s remuneration . Statutory audit and accountancy fees . Non statutory audit and accountancy fees Depreciation(note 12)	10,068,704 34,740 35,300 428,634	6,525,175 24,972 28,140 261,464

The English Dominican Congregation (Stone) Charitable Fund 52

Notes to the accounts Period to 31 August 2025

10 Staff costs and remuneration of key management personnel

Staff costs and remuneration of key management personnel
	Period from 1 April 2024 to 31 August 2025 £	Year to 31 March 2024 £
Staff costs during the year were as follows: Wages and salaries Social security costs Other pension costs Redundancy and Termination Payments Agency staff Apprenticeship levy Staff costs per function were as follows: Support of members of the Congregation and their ministry Provision of residential and nursing care Provision of education	8,438,914 777,834 480,149 8,072	5,495,471 444,769 286,717 —
	9,704,969 359,563 4,172	6,226,957 295,066 3,152
	10,068,704	6,525,175
	41,388 3,797,910 6,229,406 10,068,704	53,549 2,477,939 3,993,687 6,525,175

The number of employees whose remuneration (salaries, wages and benefits in kind excluding employer pension contributions) exceeded £60,000 during the period of report was as follows:

	Period from 1 April 2024 to 31 August 2025 No.	Year to 31 March 2024 No.
£60,000 – £70,000 £70,000 – £80,000 £80,000 – £90,000 £120,000 – £130,000	4 5 2 2	1 1 1 —

The average number of employees, analysed by function, was:

Support of members of the Congregation and their ministry Provision of residential and nursing care Provision of education and care	Period from 1 April 2024 to 31 August 2025 No. 1 100 164 265	Year to 31 March 2024 No.
		1 97 146
		244

The English Dominican Congregation (Stone) Charitable Fund 53

Notes to the accounts Period to 31 August 2025

The key management personnel in charge of directing and controlling, running, and operating the charity on a day-to-day basis comprise the trustees, the Management Board of St Mary’s Home and the Leadership Management Team of St Rose’s School. The total remuneration (including taxable benefits but excluding employer’s pension contributions) of the key management personnel for the period 1 April 2024 to 31 August 2025 was £762,084 (year to 2024 - £575,899).

No trustee received any remuneration or reimbursement in connection with their duties as trustees or key management personnel during the period of report (year to 31 March 2024 – none). The charity’s trustees are all members of the Congregation and consequently their living and personal expenses, all of which are consistent with the amounts paid in respect to other members of the Congregation, are borne by the charity.

11 Taxation

The English Dominican Congregation (Stone) Charitable Trust is a registered charity and, therefore, is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

12 Tangible fixed assets

Tangible fixed assets
	Non- specialised £	Specialised £	Furniture and equipment £	Motor vehicles £	Total £
Cost or valuation At 1 April 2024 Additions Disposals At 31 August 2025 At cost At deemed cost based on valuation – 1994 Depreciation At 1 April 2024 Charge for year Released on disposal At 31 August 2025 Net book values At 31 August 2025 At 31 March 2024	2,922,371 — —	8,744,160 129,910 —	1,236,200 30,274 (11,450)	285,595 15,412 (9,600)	13,188,326 175,596 (21,050)
	2,922,371	8,874,070	1,255,024	291,407	13,342,872
	2,456,270 466,101	4,484,958 4,389,112	1,255,024 —	291,407 —	8,487,659 4,855,213
	2,922,371	8,874,070	1,255,024	291,407	13,342,872
	— — —	2,901,470 260,451 —	705,239 112,733 (11,450)	161,002 55,450 (7,200)	3,767,711 428,634 (18,650)
	—	3,161,921	806,522	209,252	4,177,695
	2,922,371	5,712,149	448,502	82,155	9,165,177
	2,922,371	5,842,690	530,961	124,593	9,420,615

The book value of non-specialised freehold land and buildings is based on cost. The book value of specialised land and buildings acquired prior to 1 April 1994 comprising a nursing home and school is based on a valuation made by the trustees in 1994. Under the transitional arrangements set out in FRS 102, these valuations are, with effect from 1 April 2015, deemed to be their cost. Additions to specialised land and buildings since 1 April 1994 and other tangible fixed assets are stated at historic cost less depreciation.

The English Dominican Congregation (Stone) Charitable Fund 54

Notes to the accounts Period to 31 August 2025

It is likely that there are material differences between the open market values of the charity’s land and buildings and their book values. These arise from the specialised nature of some properties and the effects of inflation. The amount of such differences cannot be ascertained without incurring significant costs, which, in the opinion of trustees, are not justified in terms of the benefit to the users of the accounts.

13 Investments

Investments
	31 August 2025 £	31 March 2024 £
Listed investments Market value at 1 April 2024 Disposal proceeds Realised gains Disposals at book value Unrealised gains on revaluation Market value at 31 August 2025 Cost of listed investments at 31 August 2025	5,910,664	5,749,423
	(500,000) 176,042	— —
	(323,958)	—
	218,252	161,241
	5,804,958	5,910,664
	3,410,044	3,752,585

All listed investments were dealt in on a recognised stock exchange and comprised UK equities and UK managed funds.

Listed investments held at 31 August 2025 comprised the following:

	31 August 2025 £	31 March 2024 £
BlackRock Catholic Charities Growth and Income Fund UK equities	5,755,802 49,156 5,804,958	5,867,145 43,519 5,910,664

14 Programme related investments

At the year end, the charity held investments which were held directly in pursuit of the organisation’s charitable activities, as follows:

School buildings	31 August 2025 £	31 March 2024 £
At 1 April 2024 and 31 August 2025	2,633,690	2,633,690

The programme related investments comprise the school buildings owned by the charity but which were made available to St Dominic’s Priory School (Stone), an independent day school, with effect from 25 May 2011 for educational purposes.

The English Dominican Congregation (Stone) Charitable Fund 55

Notes to the accounts Period to 31 August 2025

15 Debtors

Debtors
	31 August 2025 £	31 March 2024 £
School fees and related charges Residential and nursing care home fees and related charges Investment income and interest receivable Prepayments and accrued income	142,023 85,789 50,369 205,907 484,088	103,656 108,253 45,873 129,553 387,335

16 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
	31 August 2025 £ 59,932 198,871 — 128,434 420,433 15,420 823,090	31 March 2024 £ 97,513 116,411 10,134 — 337,479 35,980 597,517
Expense creditors Monies administered by the charity on behalf of individual members of The English Dominican Congregation (Stone) Fees received in advance Social security and other taxes Accruals Other creditors

17 Endowment funds

The capital funds of the charity include endowed monies which must be retained indefinitely.

	At 1 April 2024 £	Income £	Expenditure £	At 31 August 2025 £
Sundry endowments	12,830	—	—	12,830
	At 1 April 2023 £	Income £	Expenditure £	At 31 March 2024 £
Sundry endowments	12,830	—	—	12,830

The English Dominican Congregation (Stone) Charitable Fund 56

Notes to the accounts Period to 31 August 2025

18 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust to be applied for specific purposes:

----- Start of picture text -----
1 April 31 August
2024 Income Expenditure Transfers 2025
£ £ £ £ £
St Rose’s School fund 80,080 1,315,221 (1,062,143) (51,697) 281,461
Cambridge fund 9,956 — (9,956) — —
Other restricted funds 15,296 — — — 15,296
105,332 1,315,221 (1,072,099) (51,697) 296,757
1 April 31 March
2023 Income Expenditure Transfers 2024
£ £ £ £ £
St Rose’s School fund 74,438 945,896 (953,494) 13,240 80,080
Cambridge fund 20,899 — (10,943) — 9,956
Other restricted funds 9,039 6,257 — — 15,296
104,376 952,153 (964,437) 13,240 105,332
----- End of picture text -----

 St Rose’s School fund

The St Rose’s School fund comprise monies raised and grants received to be spent on specific activities and includes monies received from the Department for Education for the improvement of the school’s standards. The transfer from the restricted fund to unrestricted funds has been made to reflect the fact that the funds have been used to purchase tangible fixed assets in accordance with the terms on which the funding was received.

 Cambridge fund

The Cambridge fund comprises monies used to provide board, lodgings and study facilities in Cambridge for Dominican Sisters from central and eastern Europe.

 Other restricted funds

Other restricted funds comprised other monies received by the charity which can only be applied in accordance with conditions imposed by the donor.

The English Dominican Congregation (Stone) Charitable Fund 57

Notes to the accounts Period to 31 August 2025

19 Tangible fixed assets fund

Tangible fixed assets fund
	Total 31 August 2025 £ 9,420,615 (255,438) 9,165,177	Total 31 March 2024 £ 9,067,562 353,053 9,420,615
At 1 April 2024 Net movements in year At 31 August 2025

The tangible fixed assets fund represented the net book value of the charity’s freehold property and other tangible fixed assets held as part of unrestricted funds. A decision was made to separate this fund from the general funds of the charity in recognition of the fact that the tangible fixed assets are essential to the day-to-day work of the charity and as such their value should not be regarded as funds that would be available in order to meet future contingencies.

20 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

	At 1 April 2024 £	New designations £	Utilised/ released £	At 31 August 2025 £
Sisters’ retirement fund School and residential home fund Programme related investment fund Other funds	5,000,000 3,108,323 2,633,690 11,166 10,753,179	— 792,272 — — 792,272	— — — — —	5,000,000 3,900,595 2,633,690 11,166 11,545,451

	At 1 April 2023 £	New designations £	Utilised/ released £	At 31 March 2024 £
Sisters’ retirement fund School and residential home fund Programme related investment fund Other funds	5,000,000 3,161,118 2,633,690 11,166 10,805,974	— (52,795) — — (52,795)	— — — — —	5,000,000 3,108,323 2,633,690 11,166 10,753,179

 Sisters’ retirement fund

This consisted of monies which the trustees have set aside in order to provide for the sisters in their retirement. The amount which can be designated is constrained by the resources available and is less than that indicated as being needed by actuarial calculations.

 School and residential home fund

This fund represented the net current assets and the investments held on unrestricted funds of the charity’s school, St Rose’s School and the net current assets held on unrestricted funds of the residential home, St Mary’s Home. The assets have been designated for use by the respective schools and home only.

The English Dominican Congregation (Stone) Charitable Fund 58

Notes to the accounts Period to 31 August 2025

 Programme related investment fund

• This fund represented the carrying value of the charity’s programme related investments. The amount has been set aside from the charity’s general funds in recognition of the fact that the assets have been made available to St Dominic’s Priory School (Stone) and therefore cannot be regarded as funds that would be available to meet future contingencies.

• Other funds

• These represented funds designated by the trustees for use in connection with particular projects.

21 Analysis of net assets between funds

Fund balances at 31 August 2025 are represented by:

	General fund £	Tangible fixed assets fund £	Designated funds £	Restricted funds £	Endowment funds £	Total 31 August 2025 £
Tangible fixed assets Investments Programme related investments Net current assets 2025 Total net assets	— — — 1,398,871 1,398,871	9,165,177 — — — 9,165,177	— 5,792,128 2,633,690 3,119,633 11,545,451	— — — 296,757 296,757	— 12,830 — — 12,830	9,165,177 5,804,958 2,633,690 4,815,261 22,419,086

Fund balances at 31 March 2024 are represented by:

	General fund £	Tangible fixed assets fund £	Designated funds £	Restricted funds £	Endowment funds £	Total 31 March 2024 £
Tangible fixed assets Investments Programme related investments Net current assets 2024 Total net assets	— — — 1,522,555 1,522,555	9,420,615 — — — 9,420,615	— 5,897,834 2,633,690 2,221,655 10,753,179	— — — 105,332 105,332	— 12,830 — — 12,830	9,420,615 5,910,664 2,633,690 3,849,542 21,814,511

The English Dominican Congregation (Stone) Charitable Fund 59

Notes to the accounts Period to 31 August 2025

The total unrealised gains as at 31 August 2025 constitutes movements on the revaluation of listed investments:

	31 August 2025 £	31 March 2024 £
Unrealised gains included above Total unrealised gains at 31 August 2025 Reconciliation of movements in unrealised gains Total unrealised gains at 1 April 2024 In respect to disposals in the year Net (losses) gains arising on revaluations in the year Total unrealised gains at 31 August 2025	2,394,914	2,158,079
	2,158,079 18,583 218,252 2,394,914	1,996,838 — 161,241 2,158,079

22 Pension commitments

Full-time and part-time teaching staff employed at St Rose’s School, Stroud under a contract of service are eligible to contribute to the Teachers’ Pensions Scheme (TPS).

Teachers’ Pensions Scheme (TPS)

Under the definitions set out in section 28 of FRS 102, the TPS is a multi-employer pension scheme. The charity has accounted for its contributions to the Scheme as if it were a defined contribution scheme. The information available on the scheme is set out below.

The Teachers’ Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. Membership is automatic for teachers of the school. All teachers have the option to opt-out of the TPS following enrolment.

The TPS is an unfunded scheme and members contribute on a ‘pay as you go’ basis – these contributions along with those made by employers are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

Valuation of the Teachers’ Pension Scheme

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to specify the level of future contributions.

Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020. The valuation report was published by the Department for Education on 27 October 2023, with the SCAPE rate, set by HMT, applying a notional investment return based on 1.7% above the rate of CPI.

The English Dominican Congregation (Stone) Charitable Fund 60

Notes to the accounts Period to 31 August 2025

22 Pension commitments (continued)

Teachers’ Pensions Scheme (TPS) (continued)

Valuation of the Teachers’ Pension Scheme (continued)

The key elements of the valuation outcome are:

• employer contribution rates set at 28.68% of pensionable pay (including a 0.08% administration levy). This is an increase of 5% in employer contributions and the cost control result is such that no change in member benefits is needed.

• total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £262,000 million and notional assets (estimated future contributions together with the notional investments held at the valuation date) of £222,200 million, giving a notional past service deficit of £39,800 million and;

The result of this valuation will be implemented from 1 April 2024.The next valuation result is due to be implemented from 1 April 2027.

A copy of the valuation report and supporting documentation is on the Teachers’ Pension Scheme website.

Employer’s contributions paid to the scheme during the year amounted to £283,859 (2024 – £146,005).

National Employment Savings Trust

This is a defined contribution scheme made available to non-teaching staff. The contributions payable by St Rose’s during the 17 month period ended 31 August 2025 amounted to £283,859 (Year ended 31 March 2024 – £146,005).

23 Lease commitments

At 31 August 2025, the charity had the following future minimum commitments under noncancellable operating leases as follows:

	31 August 2025 £	31 March 2024 £
Office equipment . Due within one year . Due between one and five years	— — —	1,030 — 1,030

The English Dominican Congregation (Stone) Charitable Fund 61

Notes to the accounts Period to 31 August 2025

24 Related party transactions

As members of the Congregation, none of the trustees have resources of their own as all earnings, pensions and other income have been donated to the charity under a Deed of Covenant. During the year, the total amount donated by the trustees to the charity was £156,682 (2024 - £101,778).

There were no other related party transactions during the year (2024 – none).

25 Ultimate control

The charity, which is constituted as a trust, was controlled throughout the period by the English Dominican Congregation of Sisters by virtue of the fact that the Prioress General appoints the trustees. The Congregation does not hold any assets, incur liabilities or enter into any transactions in its own right. Assets and liabilities of the Congregation are vested in the trustees of the charity, who undertake all transactions entered into in the course of the Congregation’s charitable activities.

26 Post balance sheet event

In March 2024 the sisters vacated the site at Stone and, having obtained planning permission to develop the site, have marketed the site for sale either as a whole or as separate parts. They have accepted an offer from a developer who intends to develop the site to provide senior living accommodation and to build a new care home. This will result in St Mary’s Home being run by a different organisation but will ensure a legacy of care by the Congregation on the site. Whilst the details of the sale are finalised, the trustees remain committed to St Mary’s Home and its residents and staff.

The details of the sale are currently in the process of being finalised, but it is hoped that the sale will complete as soon as possible. Once the sale is completed, the Home will effectively transfer as a going concern to the new owner who will assume full responsibility for the continued operation of the Home.

In terms of the financial impact of the sale on the overall charity, the Home contributes income of circa £3.3m per annum and incurs expenditure of circa £3.3m per annum (based on results for the 17 month period ended 31 August 2025) and this will effectively fall off following completion of the sale.

The sale will also see the removal of the carrying value of the Convent and the Home from the charity’s balance sheet, which as at 31 August 2025, amounted to circa £1.7m (based on a deemed historic cost). There are no indicators of the carrying value being impaired based on the Heads of Terms agreed.

The English Dominican Congregation (Stone) Charitable Fund 62