Charity number: SC006881
FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
CONTENTS
Page
Trustees. Report
Independent Auditors. R8port on th• Financial Stat•monts
statement of Flnanclal Actlvltles
10-13
14
Balanc• She•t
15
Statement of Ca8h Flows
16
Notes to tho Financial Statoments
17-32

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
TRUSTEES, REPORT
FOR THE YEAR ENDED 30 DECEMBER 2024
The trustees p￿sent their ￿pOrt wth the financial statements of the Charity for the year ended 30 December
2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial
Reporbng Standard applicable in the UK and Repuklic of Ireland IFRS 1021 (effective 1 January 2019).
Obj•¢tivo8 and a¢tivitl•8
Oblgcts of thg charlty
The Franciscan Sisters of the Immaculate Conception support the religious and other charitable works carried
out by the members of the congregats.on and care for those members throughout their liv85 With the
Congregation. The ministries of the Sisters, all of which benefit numerous members of the 9gneral putlic, cover
educats'on, Social and pastoral work and Overseas missionary work and donations.
Working with other Oryanisalions
The Congregation works dosely wrth a number of other charities and public bodies including LcKal Authorities
within wh￿h the community houses are based. In some inStan￿S, Sisters are employed by these organisalions,
while in other InStan￿S the relationships are more informal. In all cases. working together with other charities
and public bodies enhances communication and understanding. thus enabling serV￿e5 lo be offered in a more
efficient and effective way, avoiding duplication of efforL
Protection of ¢hildren and vulnerable •duks
Abng wilh all other organisats'ons who serve in the community, the tru$tee$ ￿CognIse the absolute necessity of
ensuring the protection and safety of all Ihose whom the Congregation serves. This means that all Sisters who
are in any kind of ministry in Great Britain have to obtain dearance from Disdosure Scotland. The trustees are
committed to implementing all policies and procedures recommended by the Catholic Church in Scotland.
The Sisters in overseas mission5 have received this training and every Mission is expected to implement all
Folcies and procedures as well as display all perbnent documentab'on.
Achlevement8 and perforniance
Rovlew of act5vltle8, 8peclfic oblect5ve8 and rnlevant pollcle8
As indicated above, the activities of the Congregation can be divided into a number of principal areas., caring for
the members of the Congregation, the educational, social and pastoral work of the Sisters and the support of
overseas missionary work Each of these is considered below..
al Canng for members of the Congregation
In common wlh many religious ¢ongregats'ons in Great Britsin. the age profile of the members of the
Congregation 1$ increasing, as existing members grow older and the number of new vcL*ions becomes
minimal.
The Congregation has an obligation, both moral and legal. to provide care for it$ 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 poor, the
marginali$ed and the needy in $o¢iety. As the age profile of the COng￿g?110n in the UK in¢rea$e$, so too d￿5
the need to provide in¢￿asIng and In¢￿asInglY expenswe ¢are to the Sisters. At present most members of the
Congregation re¢eive ¢are in our own houses. We have a purpose built house at Possilpark, Glasgow, where
specialist fa¢litE$ such as lifts, di$abkd tolets and showers, a walk in bath, seating and walking aids are
Page 1

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 DECEMBER 2024
Achievements and perform•n¢e (¢ontinuedl
available lo those who need that help. It has accomrnodation for 11 Sisters although only five reside there at this
lime. As the Trustees expect the number of members requiring care to increase considerabty over the next
decade, including many Nigerian Sisters, they are gNing careful consideratDn lo the impact of this on the work of
individual members of the Congregation, the propety requirements of the Congregation and the financial
implications. In this regard, the aims of the Trustees, over forthcoming years, indude..
Ensuring all members of the Congregation receive the high levd of care they require and enjoy the quality of
fe they should rightty expect
Reviewng the Congregation's properts'es used as communty houses and assessing their surtability as
homes for Sisters who are elderty and frail. Where necessary, unsuitable properties will be sc4d and replaced
with properties more appropriate for the elderty.
Enabling all memters of the Congregation lo conb'nue with their indNidual ministries for as long as possible.
Members of the congregation in need of care are cared for in the various houses of the congregation. (Two
sisters are in nursing home, both in Scotlandl.
When necessary, for parb'cular needs, sisters come to the convent in Possilpark to convalesce. The house is
purpose built for this. Care within the other houses is undertaken by other members of the Congregation who are
also empbyed or volunteering in their chosen ministy. .
bl Educational, medical, scLial and pastoral work
The following are examples of the educational, social and pastoral works undertaken by indNidual Sisters".
Teaching in primary and secondary schocls and in schools for chilaren with special needs.
Working in parishes, visiting homes and hospitals, helping with catechetical programmes, devek)ping liturgy.
Helping parishioners develop their spiritual live5.
Nursing in variou5 fields of rnedicine.
Managing several hospitals and ¢linics.
Providing primary health ca￿ in ￿MOte areas of Kenya and Nigeria.
Administrative and secretarial support to Diocesan and Church organisations.
Working wth people infecledlaffected by blood-borne viruses.
Devebping prfrlrfe inilialives.
Pastoral carel Chaplaincy in hospitals, hospices and nursing home&
Community social work wth the homeless.
Spiritual direction, retrtat work. guiding prayer group5.
Helping many local cib'zens in Kenya and Nigeria begin income generab'ng projects.
Bereavement ¢ounselling.
The aim of tho trustees in this area includes-
Enabling all members of the Congregab'on lo ¢arry out meaningful edu¢ationlmedi¢al$o¢iaVpastoral work
within the ￿mMunIty. after assessing their skills and the needs of the local area.
Encouraging and motivating members to work with and assist the poor, the e￿ertY and the marginalised.
Wherever possible, ensuring the Sisters are remunerated for their work by way of salary or stipend. Such income
Is donated to the Congregation and thereby ensures that the work of the Sisters and the Congregation may
ntinue Into the future and develop.
Throughout the year the Sisters continued to carry out various form$ of educational, pastoral and social work, in
order to fulfil their individual ministries. This work enatles the cong￿gation to ￿a¢h out to those in need within
Page 2

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 DECEMBER 2024
Achievements and perform•n¢e (¢ontinuedl
society generalty and benefft a very significant number of peoFIe.
Whi15t those Sisters working in the fiekl of education or in the field of heathcare receive remuneralion for their
services the majority of members receive no financial reward for their work in assisting the poor and
marginalised through their very active role in parish ministy, particularty in areas of deprivation. With the growing
number of one man par￿heS in the UK, Ireland and USA the contributs.on of the Sisters is crucial and very much
appreaated.
cl Overseas Missionary Work
The Congregation provides financial support for the congregatvJn's missions in Kenya, Nigeria and Barbados, to
support the Sisters working in education. medical, S￿la1 and pastoral field&
There are 30 Sisters of the Congregation, working in 6 difference missions in Kenya. The missions are under the
control of members of the Congregation and financial support given by the Congregation is used to meet the
Fersonal and living expenses of the Sisters and to provide support for their missionary endeavours
Of the 6 missions in Kenya, one is a house of formation where young Kenyan and Ugandan women are trained.
This house undertakes a lol of pastoral work in f(s local parish. Three houses support educational and pastoral
care. One house is our HIVIAJDS Centre where our Sisters are invofved mainly in leaching, nursing, caring for
orphans and organising a home based care programme. The sixth house is engaged in health care. pastoral
work and Catholic media.
With 80 members of the Institute based in Nigeria, the Nigerian Province and regions undertake a significant
number of missions. tsventy four in the year under review. These include teaching in schods.. nursing in clinics,
hospitsjs and a midwifery centre,. caring for orphaned and abandoned babies,. caring for those wlh HIVIAIDS.
pastoral and social work,. administration and supwrt services.
Funds are transferred on a regLAar basis lo Kenya and less frequenlty to Nigeria il being noted the trustees
regularty visit these communities. The trustees also receive regular reports and updates from the Sisters, thus
enabling them to be satisfied that the funds are used for the purwses intended. In addib'on. the Congregation in
the UK accepts responsibility for paying the fees of the Sisters in Kenya undertaking studies in order to be able
to enhance their work within the Congregation. It also fundraises on tehalf of these missions.
During the year the Congregation has continued to support its missionary woth overseas by the direct transfer or
donatson of funds, including assistance with builjing projects, and in supplying necessary rtems. It is the aim of
the trustee to continue to provide fi'nancial support to the missions in Kenya and Nigeria. athough the Nigerian
mission is moving towards financial stsbility.
dl Granl, donations and support of overseas missionary V￿rk and ministry
The Congregation supports the work of the Institute in overseas countrie&
With the payment of mission gifts to overseas missions the Congregation ensures that the vitsl missions
undertaken in these countrE$ a￿ able to Continue and the Congregation will ¢ontinue to provide su¢h finan¢ial
support in future years.
While the trustees give occasional support lo United Kingdom organisations whose work is within the objects of
the Congregation, the Congregation does not ward itself a$ a grant making enb'ty and apFli¢alions for grants
and donations are not invited.
As the elected trustees of the Franciscan Sislets of the Immaculate Conception, we are proud of all that ha$
teen and continues to be achieved by the members of our Congregation throughout the workj.
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FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 DECEMBER 2024
Achievements and perform•n¢e (¢ontinuedl
We feel that this report accurately depicts the reality of our Congregation at this ts'me and accurately defines our
targets and objectives for the year ahead.
Employ￿$ and m•mbor8 of th• Congr•gation
The truste8s wish to record their recognrtion of the professionalism and commitment of all those whom th8y
employ and the individual members of the Congregation. Their dea￿ats.0￿ and positive approach are very much
appreciated.
Flnanclal revlgw
Financial position
The audited financial statements that accompany this report detail the financial transactions and position of the
Congregation, as defined within the Organisational structure paragraph. The tnjstees are acutely aware of the
need for prudent management of their resources.
The Statement of Financial Activitwts, on page 14, shows that income has decreased to £1,438,894 from
£1.473,060 in the year lo 30 December 202￿ Overall the charity has a defial for the year of £176,904 12023
surplus= £320,848).
The Balance Sheet, on page 15, shows that the charity has unrestricted funds of £4,575,363 {2023'. £4,752,267)
and reslricled funds of £nil12023.' £nil).
Principal funding sources
A primary source of income on an annual basis is the salanes, pensions and stipends of the Sisters vthich as
members of the Institute they give of freely to the charity.
The Congregation is also indebted to.- those organisations that provide grants. including Misean Cara.. lo the
donors responding to mission appeals that are undertaken through Mission Scotland and to donors of gifts and
donatsons.
Inve8tment pollcy and objectlvee
There are no reStriC￿n5 on the Congregation's power to invest however there is an Ethical Pdicy preduding
investment in any company which, after reasonable enquiry, cleady has significant profits from an acb'vity which
is contrary to the objectives of the Catholic Church.
The investrment strategy is sel by the trustees and takes into account income requirements, the risk profile and
the investment managerfs view of the market prospects in the medium temi. The pclicy is to maximise tot
retum while providing a level of in¢ome a¢¢eptable to and advised by the trustees from lime to time.
The perfoman¢e of the inveslmenl portfol￿ and the Congregation's inveslmenl strategy are wiewed by the
Iruslees on an annual basis and by the General Bursar every six months. The Congregation's investments are
m8n8ged by Intelligent Capital. The Iruslees are satisfied that the investment perfomance has met the
obje¢tive$. The tru$tee$ ¢ontinue to ￿VIeW the investment porttolio and are ￿nSIdering other investsnent
opportunities available to the Congwation.
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FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 DECEMBER 2024
Reserves policy
The Congregation carries out a diverse range of activities and is also responsible for the ¢are and support of tho
Sisters. The trustees have considered the need for free reserves i.e. unrestn.cted fvnds not invested in tangible
fixed assets or investments, or designated for specific purposes or olherwse committed. The trustees consider
that given the nature of the Congregats"on's work and ils commitments, the level of free reserves should be equal
lo six months expenditure.
A5 at 30 December 2024 wth free reserves. i.e. Unrestricted re5eNes not tied up in tangible assets, of
£1,429,737 12023.. £1.757,8451 this target was met. The trustees, will strive to ensure that reserves continue to
e retained to provide financial securty over the course of the next year.
Golng concern
The charity has cash resources and has no requirement for external funding. The trustees have a reasonable
expectation that the charity has adequate resources to continue in operationa existence for the foreseeable
future. They continue lo believe the going concern basis of accounting appropriate in preparing the annual
financial statements. The Iruslees are aware of no known material uncertainties as to the charitys ability to
continue as a going concem.
Future plans
As noted above the Congregation will continue to undertake its activities in educational, social and pastoral work
and in undertaking overseas missionary work whilst ensuring the appropriate care is delivered to the members of
the Congregation.
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FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 DECEMBER 2024
Strudure, govemon¢e and man•gement
Gov•mlng docurnont
The Charity is Controlled by its governing document, a deed of trust and consblutes an unincorporated charity.
Charity constitution
The Franciscan Sisters of the Immaculate Conception, an international Roman Catholic religious Institute, is
registered as having Charitab￿ status with the Office of the Scotb'sh Charity Regulator (OSCRI. A declaration of
Trust dated 16 October 1936 and registered in the Books of Council and Session on 17 November 1936 is the
charivs founding document under ovil law.
In temis of canon law, the Congregation was officialty recognised when its first conslitulions were approved by
Rome in 1854.11 was estak4ished by pontifical decree in 1868, and is therefore iecognised as a Congregation of
Fonlifical rite.
Trustee appoinlm•nt. induction and traiTring
By virtue of the nature of the charity being a religious Institute Iruslees are selected from and appointed by
members of the Congregation. In order lo properfy discharge their duties the trustees are provided with detail as
lo the structure and objectives of the Congregation and information to what their responsibilities are as Iruslee&
Additional training is provided where necessary.
Oryanlsatlonal structure
The Franciscan Sisters of the Immaculate Conception is an international Roman Catholic rdigious Institute
supporting a number of Sisters worljwide. Founded in Glasgow, where its Generalate is located, it has
communities based in Scodand, England, Ireland. Kenya. Nigeria, the United States of America (USA), Barbados
and Itaty.
The financial statements accompanying this report aggregate the financial position and financial transactions of
the Generalate (to indude USA) and the communities in Scodand, Enuqand. Ireland, Italy, Barbados, Kenya and
Nigeria hereafter referred to as the Congregation.
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FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 DECEMBER 2024
Strudure, govemon¢e and man•gement lcontinuedl
Decision making
The General Council is responsible for the governance of the charity and comprises the Superior General and a
Council of four member& As all such persons are members of the Institute they have a detailed kno￿edge of
the work of the charity and of its Structure.
This group of five people are the trustee5 of the charity for the purposes of charity law and shall te referred to
hereafter as the trustees. The trustees are ulb"mately responsible for the policies, acb"vilies and assets of the
charity. They meet regulaTty to review developments with regard to the charity and its activrties and to make any
important decisions. When necessary, the trustees seek advice and support from the chanty's professional
advisers inC￿ding property consultants, investment managers, solicitors and auditors.
The day lo day management of the charTVs acliwties, and the imFlementats'on of policies, is delegated to the
appropriate members of the Institute or senior staff. Responsibility for individual communities is delegated to one
named person, at each community, having overall responsibility for the life and work of that community, for the
care of the Sisters who live there. and for liaising with the Iruslee&
Each communty is visited ty a member of the General Council at least once a year, and throughout the year
there is a system of operational accountabilty. This ensures that the trustees are aware of the progress and
development of the ministries carned out by the Sisters.
Key management
The trustees are the charity's key managemenL These personnel have ultimate responsibility for directing.
controlling and operab'ng the charty. On a day to day basis responsibility is delegated as described abov&
As members of the relyious Institute the trustees and other members of the Insb'lute receNe no remuneration. NJ
members of the Institute have their living and personal expenses b)rne by the charity.
Rlsk management
The trustees have a duty to identify and review the risks lo which the charty is exposed and to ensure
appropriate controls and in Flace to provide reasonable assurance against fraud and error.
It is recognised that risk management is the responsibility of the trustees. The trustees regularly monitor the
major risks associated with the Congregation's activities and have identffied five main areas where risks may
Governance and management
Operab'onal
Financial
Reputational
Laws, regulations, external and environmental.
The trustees have examined the major areas as detailed above, Considered the major risks which may arise in
these areas and are of the opinion that systems are in place to mitigate there risks to an acceptaNe level.
Page 7

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 DECEMBER 2024
Refertn¢e and admini8tr•tive detsils of the Charity, its tw$tee8 •nd •dvisers
Trustees
Charty registered
number
SC006881
Principal office
Tweasurtr
Independent auditors
AAB Audit & Accountancy Limited
Chartered Accountants
133 Finnieston Street
Glasgow
G3 8HB
Bankevs
Bank of Scoljand Corporate
2nd Fbor
Penlland House
8 Lochside Avenue
Edinburgh
EH12 9DJ
Sollcltors
Lindsays
100 Queen Street
Glasgow
G1 3DN
Page 8

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 DECEMBER 2024
Statement of Trustees. responsibilities
The Trustees are ￿Sponsible for preparing the Trustees, Report and the finan¢ial statements in accordance with
apFlicable law and United Kingdom Accounting Standard5 (United Kingdom Generally Accepted Accounting
Practi¢&l.
The law applicable to ¢haritie$ in Scotland requires the Trustees to p￿pare financial statements for each
financial which give a true and fair view of the state of affairs of the Charity and of ils incoming resources and
apFlication of resources, including its income and expgnditure, for that period. In preparing these financial
statements, the Trustees are required to..
select surtable accounb'ng pc4icies and then appty them consistenty..
observe the methods and principles of the Charitses SORP IFRS 1021.,
make judgements and accounting estimates that are reasonakle and prudent.,
slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subjo¢t to any material
departu￿¥ dis¢losed and explained in the financial statement$',
prepa￿ the financial statements on the going concern basis unless it is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounlng records that are suffielent to show and explaln
the Charity's transactions and disdose with ￿8$On¥ble a¢¢ura¢y at any time the financial posi(ion of the Charlty
and enable them to ensure that the finan¢ial 5tatemenl$ compty with the Charities and Twstee Investment
Iscotiandl Act 2005, the Charits'es A¢¢ounls IS¢otland} Regulations 2006 la$ amended) and the provisions of the
Trust deed. They are also responsitle for safeguarding the assets of the Charity and hence for taking
reasonable Steps for the p￿ventIOn and detection of fraud and other irregularities.
Dlsclosurg of Inforrnatlon to audltovs
Each of the persons who are Trustees at the b'me when this Trustees, Report is approved has confirmed that..
so far as that Trustee is aware, there is no relevant audit information of which the charitys auditors are
unaware, and
that Trustee has taken all the $lep$ that ought to have been tsken as a Trustee in order lo be awa￿ of
any relevant audit information and to establish that the charitys auditors are aware of that infomation.
Audilors
The auditor5, AAB Audit & Accountancy Limited, have indicated their wllingness lo continue in office. The
designated Trustees will propose a motion reappointing the auditors al a meeting of the Trustees.
Approved by order of the members of the board of Truste•s and signed on thair behalf by..
ruslee
Date.. 30 September 2025
Page g

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF FRANCISCAN SISTERS OF THE
IMMACULATE CONCEPTION
Opinion
We have audrted the financial statements of Franciscan Sisters of the Immaculate ConceptKJn (the 'charity'l for
the year ended 30 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the
statement of Cash Flows and the related notes, including a summary of significant accounting policies. 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 financial statements..
give a true and fair view of the state of the ¢harity'$ affairs a$ at 30 December 2024 and of rts incoming
resources and application of resources for the year then ended",
have been propety prepared in aC￿rdance wf(h United lQngdom Generalty Accepted Accounting
Practice,. and
have been prepared in accordance with the requirements of the Charities and Trustee Investsnent
(Scotlandl Act 2005 and regulation 8 of the Charib'es Accounts Iscodandl Regulations 2006.
Basls for oplnlon
We conducted our audit in accordance with Intemalional Standards on Auditing {UKI IISAS (UK)) and applicable
w. Our responsibilities under those standards are further described in the Auditors, ￿SponSibl11t1eS for the audf(
of the financial stslements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial stslements in the United Kingdom, induding the
Financial Reporting Council's Ethical Standard, and we have fLAfilled our other ethical responsibilities in
accordance wf(h these requirements. We believe that the audit evidence we have obtained is suffiaenl and
appropriate lo provide a basis for our opinion.
conc￿810n$ relating lo going ¢oncern
In audib'ng the financial statements, we have concluded that the Trustee$, use of the going concern ba$1$ of
ac¢ounts'ng in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relab'ng to events or
nditDns that, individually or ¢olle¢b'vety, may ¢ast significant doubt on the ¢harity's ability to conb.nue as a going
concern for a penod of at bast tsvelve months from when the finan¢i4 statements are authonsed for issue.
Our responsibil￿e$ and the re$pon$ibilllies of the Trustees respect to going ¢on¢em are des¢ribed In the
relevant se¢tions of this ￿porL
Page 10

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF FRANCISCAN SISTERS OF THE
IMMACULATE CONCEPTION {CONTINUEDI
other Information
The other infomiation comprises the information induded in the Annual Report other th8n the financial
statements and our Auditors, Report thereon. The Trustees are responsiNe for the other information contained
within the Annual ReporL Our opinion on the financial statements does not covef the other information and,
except to the extent otherwise explicilty staled in our report, we do not eXp￿sS any form of assurance conclusion
Ihereon. Our responsibility is lo read the other infomation and, in doing so, consider whether the other
infomialion is materialty inconsistent with the linancial statements or our knovAedge obtained in the course of the
audit, or otherwise appears to be materially misstated. If we identfy such material inconsistenc￿5 or apparent
material misstatements. we are required to determine whether this gives rise to a materia misstatement in the
financial statements themsefves. If, based on the work we have performed, we ¢on¢lude that the￿ is a material
misstatement of this other information. we are required to report that facL
We have nothing to report in this regar
Mattor8 on whl¢h wo are requlrod to report by ex¢eptlon
We have nothing to report in respect of the follovAng matters where the Charities Accounts (Scotlandl
Regulations 2006 las amended) requires us to report to you if, in our opinion..
the infomatDn given in the Trustees, Report Is Inconsistent In any material respect with the financial
Slalements., or
proper aeeounting records have not been kept or
the financial statements are not in agreement with the accounting records and returns., or
we have not received all the infomiatson and explanations we require for our audiL
Re8ponslbllltle8 of trustse8
As explained more fully in the Trustees, Responsibilities Statement, the Trustees are responsible for the
preparation of the financial $talements whi¢h give a true and fair view, and for such internal ¢ontrcl as the
Trustees delemine 1$ necessary to enable the p￿paratIon of ffinan¢ial statements that a￿ free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsitle for assessing the charity's abilty to eontinue
as a going toneern, disclosing, as applicaue, matter$ related to going concem and using the going contsm
basi$ of ac¢ounling unless the Trustees either intend to liquidate the charty or to ¢ea$e operalions, or have no
realist￿ allernab've but to do so.
Page11

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF FRANCISCAN SISTERS OF THE
IMMACULATE CONCEPTION {CONTINUEDI
Auditor8. re8pon8ibilitie8 for the audit of the financial 8tatement8
We have been appointed as 8uditor under section 44(11{cl of the Charities and Trustee Investment Iscodandl
Act 2005 and report in accordance with the Act and relevant regulab'ons made or having effect Ihereunder.
Our objectives are to obtain reasonable assurance about whether the financiaj statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, 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 IUKI will aNvays detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonabty be
expected to influen¢e the ¥onomic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of norKompliance with laws and regLlations. We design procedures
in line with our responsibilrties, ouuined above, to detect material misstatements in respect of irregularrties,
including fraud. The extent to which our procedures are capable of delecling irregularities, including fraud is
detaikd below..
We obtained an understanding of the legal and ￿gUlatOry frameworks wthin which the ¢harity operates, frtusing
on those laws and regulations that have a direct effe¢t on the detemiination of material amounts and disdosures
in the financial slalement$. The laws and wulations we considered in this context were the FRS102 Sorp.
We identified the greatest risk of material impact on the finan¢ial statements from irregularities induding fraud to
Management override of contrc4s'.
Timing and completeness of revenue recOgn￿On',
Compliance with relevant laws and regulations which direcdy impact the financial statements and those that
the charity needs to compty wth for the purposes of trading.
Our audit procedures to respond to these risks induded..
Testing of journal entries and other adjustments for approprialgness.,
Testing a sample of revenue Iransacts'ons and associated recognition of revenue on projects ongoing across
the year end to ensure appropriate.,
Evaluating the rationale of significant transactions outside the nomal course of business.,
Enquines ol management about litigation and daims and inspection of relevant correspondence,.
Reviewng legal and professional fees lo identsfy indications of actual or potential litigation, daims and any
nOn￿m￿lIance with laws and regulations.,
Anatytica procedures to identfy any unusual or unexpected trends or relationship,. and
Reviewing minutes of meetings of those charged with govemance to idenb'fy any matters indicating acbJal or
potential fraud.
Because of the inherent limitations of an audrt, there is a risk that we will not detect all irregularities, including
those leading to a material misstalemenl in the financial statements or norKompliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the evenls and transactions
reflected in the financial statements, as we will te ￿sS likely lo become aware of instances of non￿MF11anCe.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud invthes
intenb'onal concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibl1 ities for the audit of the financial statements is located on the Financia
Reporting Council's website at.. www.frc.or
-uklauditorsres
nsibililies. This description forms part of our
Page 12

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF FRANCISCAN SISTERS OF THE
IMMACULATE CONCEPTION {CONTINUEDI
Auditors, Report.
U8e of our report
This report is made solety lo the charity's trustees, as a body, in accordance with regulation 10 of the Charities
Accounts (Scotlandl Regulations 2006. Our audit work has been undertaken so that we might state lo the
charitys trustees those matters we are required to stale to them in an Auditors, Report and for no other purpos&
To the fullest extent permitted by law, we do not accept or assume responsibilty lo anyone other than the charity
and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
AAB Audlt & A¢¢ountan¢y Llmltod
Chartered Accountants
133 Finnieston Street
Glasgow
G3 8HB
30 September 2025
AAB Audit & Accountsncy Limited are eligible to act as auditors in terms of section 1212 of the Companies Act
20CE.
Page 13

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
STATEMENT OF FINANCIAL ACTWMES
FOR THE YEAR ENDED 30 DECEMBER 2024
Restricted
funds
2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Incomt from:
Donations and legacies
charitab￿ activities
Inve$tmenl$
709,534
399,265
63,865
709,534
665,495
63,865
889,888
549,495
33,677
266,230
Total income
266,230
1.172,664
1.438,894
1.473,060
Expendlture on:
charitab￿ activities
266,230
1,375,464
1,641,694
1,167,301
Total expendtture
266,230
1.375,464
1.641,694
1.167,301
Nel lexpenditurellincorne before nèt
gains on investrnents
Net gains on investments
1202,8001
25,896
1202,8001
25,896
305,759
15,089
Net movement In funds
1176,9041
1176,9041
320,848
Reconclllatlon of fund8:
Tot4 funds brought forward
Net movement in fvnds
4,752,267
1176,9041
4,752,267
1176,9041
4,431,419
320,848
Total funds carried forward
4.575,363
4.575,363
4.752,267
The Statement of Financial Activities indudes all gains and losses recognised in the year.
The notes on pages 17 to 32 form part of these financial statements.
Page 14

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
BALANCE SHEET
AS AT 30 DECEMBER 2024
2024
2023
Note
Flxed •88et8
Tangible assets
Investments
13
14
3,145,626
537,817
2.994,422
296,921
3,683,443
3,291,343
Curront ass•ts
Debtors
Cash at bank and in hand
15
50,181
947,522
49,606
1,654,C60
997,703
1,703.666
Current Ilabllltles
Creditors.. amounts falling due within one
year
16
1105,7831
1242,7421
Net current assets
891,920
1.460,924
Total assets less current Ilablltles
4,575,363
4.752,267
Total not as80ts
4,575,363
4,752,267
Charlty funds
Restrieled funds
Unrestricted funds
17
17
4.575,363
4.752,267
Total funds
4,575,363
4.752,267
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
Trustee
Treasurer
Date.. 30 September 2025
Date.. 30 September 2025
The notes on pages 17 to 32 fom part of these financial statements.
Page 15

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 DECEMBER 2024
2024
2023
Cash flows from operating activities
Net cash used in operating activities
1276.1001
302,544
C￿h flows from Investlng •dlvltles
Proceeds from the sale of tangib￿ fixed assets
Purchase of tangible fixed assets
Purchase of investments
Interest received
329,121
1271.7741 1243,7601
1215.0001
56.336
6,375
Net cash (used invprovided by investing activitie8
1430.4381
91,738
Change in ¢agh and ¢a$h equivalents in the year
Cash and cash equivalents at the beginning of the year
17C6.5381
1,654.CfjO
394,280
1.259,780
Ca8h and ca8h equlvalents at the end of the year
947.522
1.654,060
The notes on pages 17 to 32 form part of these financial statements
Page 16

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
General Infomiatlon
Franciscan Sisters of the ImmacLlate Conception is a registered Scottish charty (Charity Number
SC0068811 and constitutes an unincorporated charity.
The principal address of the charity is 90 Saracen Street, Glasgow G22 SAD.
Accountlng pollcle8
2.1 Basis of preparation of financial statomgnts
The principal accounting policies adopted, judgements and key sources of estimats'on uncertainty in
the preparation of the financial statements are as follows..
The financial statements of the charity have been prepared in accordance wth the Charities SORP
IFRS 1021 'Accounting and Reporb'ng by Charikn'es.. Statement of Recommended Practice applicable
to charities preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK and Reputlic of Ireland. leffectNe 1 January 2019}, Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 1021. the Charities and Trustee Investment
(Scollandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2006. The financial
statements have been prepared under the historical cost convention with the exception of investment
induded al market value.
Franciscan Sisters of the Immaculate Conception meets the definition of a public benefit entity under
FRS 102. Assets and liabil'iies are initially recognised at historical cost or transaction value unless
otherwise stated in the relevant accounting policy.
2.2 Golng concern
The charity has cash resources and has no requirement for external funding. The trustees have
reasonat4e expectation that the charity has adequate resources lo continue in operation81 existence
for the foreseeaL4e future. They continue to believe the going concem basis of accounting
appropriate in preparing the annual financial statements. The trustees are aware of no known
material uncertainties as to the charitys ability to conb'nue as a going concern.
2.3 Income
Al income is recognised in the Statement of Financial Activities once the Charity has entitlement to
the funds, it is probable that the income will be received and the amount of income receivable can be
measured reliably.
2A Expendlturn
Costs relating to ¢haritsble activitie$ are ¢harged lo the Statement of Financial Activbties on an
accruals basis, indusive of irre¢overable Value Added TaL Expenditure is ￿Cognised when the￿ is
a legal or ¢onstru¢tive obligats'on to pay for expenditure.
Page 17

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
Accounting policie8 Icontinuedl
2A Expendbture (continued)
Charitatle activities costs compnses expenditure incurred on the defined charitable purposes of the
charity and support costs incurred in support of direct expenditure.
Support costs are those functions that assist the work of the charty and include governance costs.
Governance costs, a category of support costs, are trjsls attributable to compliance with the charitys
¢onstitutional and statutory requiremen
2.5 Tangible fixed assets and depreciation
Tangitle fixed assets are initially recognised al cost. After recognit￿￿n, under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impaimient
losses. Al costs incurred to bring a tangible fixed asset into its intended working condition should be
induded in the measurement of cost.
Depreciation is provided at the following annual rates in order to write off each asset over ils
estimated useful lrfe.
Freehold propety
Assets under eon$tw¢lion
Land
Motor vehides
Fixtures and fittings
2% on Cost
Not depre¢iated
Not depreciated
25Yo on reducing balan¢e
15% on reducing balan¢e
2.6 Toxollon
The ¢harty is exempt from tax on its charitable activitie
2.7 InvoStm•nts
Investments are initially recognised al their transaction value and subsequendy mèasured at their
market value as at the balance sheet date using the closing quoted market value. The Statement of
Financial Activities includes n&t gains and losses arising on revaluation and disposal throughout thè
year.
2.8 Reallsedl unreallsod galns and lossgs
I gains and losses are taken to the Statement of Financial Actiwties as they arise. Realised gains
and losses on investments are calculated as the difference betsveen sales proceeds and their
opening carrying value or their purchase value rf acquired subsequent to the first day of the financial
year. Unrealised gains and losses are calcLAated as the difference be￿een the market value at the
year end and their carrying value. Realised and unrealised investment gains and losses are
combined in the Statement of Financial Activib'es.
Page 18

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
Accounting policie8 Icontinuedl
2.9 Debtorn
Debtors are recognised at the settlement amount due with appropriate allowances for any
irrecoveratle amounts when there is Obl￿￿'ve evidence that the asset is impaired.
2.10 Cash at bank and In hand
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank wth a
short term of maturity. being ￿1ve months or less, from opening of the deposit or similar accounL
2.11 Creditorg
Credrtors are recognised where the charity has a present obligation resulb'ng from a past event that
VAII probably result in the transfer of funds to a third party and the amount due to settle the obligation
can be measured or estimated rdiatfy. Creditors are re¢ognised at their settlement amount after
allowng for any discounts due.
2.12 Financial instrumenis
The Charity On￿ has financial assets and financial liabilities of a kind that qu81fy as basic financial
instruments. Basic financial instruments are initialty recognised at transaction value and subsequenily
meaSU￿d at their settlement vdue.
2.13 Fund a¢¢ounting
Unrestri¢led fvnd$ ¢an be used in a¢¢ordan¢e wth the ¢harilable obje¢lives at the di$¢￿tIOn of the
trustees.
Designated fvnds ¢ompris& unreslrictsd funds Ihal have been set asid& by th& Trustees for particular
purpose$. The aim and use of each designated fund is set out in the notes lo the financial
$tatemenl&
Restricted funds Can only be used for particular restricted purposes within the objects of the charity.
Restrictions arise when specified by the donor or when funds are raised for particular ￿Stricted
purposes.
Furthèr oxplanation of the nature and purpos• of e*h fund is induded in thè notès to the financial
statèments.
2.14 Forolgn curroncl88
Assets and liabilities in foreign currencies are translated into sterlng at the rates of exchange ruling
at the balance sheet date. Transactions in foreign currencies are translated into steding at the annual
average rate of exchange. Exchange differences are taken into account in arriving at the opening
result.
2.15 Services providod by mombers of tho Congregation
For the purposes of these financial statements, no monetary value has been placed on the care.
administrative and other services provided by members of the Congregation.
Page 19

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
Income from donallons and legacles
Unrestricted
fijnds
2024
Total
funds
2024
Total
funds
2023
Donatlons and legacl
Gifts and donations
Gift Aid
Salaries
Pensions and disabilty allowances
144,450
6,138
336,531
222,415
144.450
6.138
336.531
222,415
144,705
6,672
372,085
366,426
709,534
709,534
889,888
In¢ome from ¢harilable a¢tivitiOS
Restricted Unrestricted
funds
fvnds
2024
2024
Total
funds
2024
Total
funds
2023
Grants
Hospital
Project & other income
School
other income
266,230
108,701
74,968
102,232
101,550
11,814
374,931
74.968
102,232
101,550
11.814
102,415
117,518
197,998
131,564
266,230
399,265
665,495
549,495
The charitys charitatle activity is congregational aclivilies.
Investment income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Deposit account interest
Rents received
56,336
7,529
56,336
7.529
6,375
27,302
63,865
63.865
33,677
Page 20

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
Investment Income (contlnued
Anafys18 of expendlture on charltable actlvltle8
Summary by fund type
Restricted Unrestricted
funds
funds
2024
2024
Total
2024
Total
2023
Congregational activities
266,230
1,375,464
1,641,694
1,167,301
Analysls of expendlture by actlvlti
ActThiibes
undertaken
directly
2024
Support
costs
2024
Total
funds
2024
Total
funds
2023
Congregational activities
1,620,328
21,366
1,641,694
1,167,301
Page 21

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
Anatysls of expendlture by actlvltles (contlnuedl
Anatysls of dlrect costs
Congregat￿?
nal activities
2024
Total
funds
2024
Total
funds
2023
Staff costs
123,541
117,571
74,433
181,386
61,093
149,964
52,522
94,373
123,541
117.571
74.433
181.386
61,093
149,964
52.522
94,373
123,545
114,543
114,319
194,691
59,316
80,262
64,528
46,512
Depreciation
Mission, gifts and donations
Household and provisions
Personal budget$
Rent. rates and insurance
Heat and Light
Repairs and maintenance
Lill
Car and travel
Foreign exchange (gains) I losses
Education, courses and retreats
Pastoral and medi￿1
General adminislrats'on
Bank interest and charges
Operating ¢o$ls of $¢hocl
Hospital costs
Accountancy fees
Project costs
Building and ¢on$tru¢tion
Lossl {Gainl on disposal of assets15ee note 101
143,672
229,881
28,957
65,152
74,461
5,455
22,803
35,1C6
30,790
90,747
35,422
2,999
143.672
229.881
28.957
65,152
74.461
5.455
22.803
35,106
30.790
90.747
35.422
2,999
133,652
159,873
20,473
59,800
45,953
4,981
31,457
40,398
11,400
66,242
14,783
1271,6141
1,620,328
1,620,328
1.115,114
Analysis of support costs
Congregal*J
nal activities
2024
Total
funds
2024
Total
funds
2023
Auditors, remuneration
Professional & lega fees
21,366
21.366
22,700
29,487
21,366
21.366
52,187
Page 22

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
Trustees. remuneratlon and expenses
During the year, no Trustees received any remuneration or other tenefils12023- £NILI.
During the year ended 30 December 2024, no Trustee exFenses have been incurred (2023- £NIL).
The trustees received no reimbursement of expenses in connection with their duties as trustees during
the year. As members of the Congregation, the trustees living and persona expenses during the year and
previous year were bome by the charity.
Governance matters are addressed by memters of the Congregation.
Staff costs
2024
2023
Salary costs- UK & Europe
Salary costs- Kenya
Salary costs- Nigeria
500
64,335
37.006
123 541
No empbyees received employee benefits in excess of £60,000 {2023.' Nil).
The average monthly number of employees during the year was as follows:
2024
2023
Employees- Kenya
Employees- Nigeria
Total
27
27
113
113
10. Galnl{loss) on salg of flxed assets
2024
2023
Gainl{los$) on disposal of tangible fixed assets
274113
Page 23

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
11. Comparatlves for the Statement of Flnanclal
Actlvltles
Restricted Unrestricted
Funds
Funds
Totsl Funds
Income and endowmonts from:
Donations and legacies
889,888
889,888
Charitablg activiti08
Congregational a¢llvllie$
93,323
456,172
33,677
549,495
33,677
Investment income
Totsl In¢omo and endowmfrnts
Expondlturo on:
Charitable a¢tivities
Congregational aclivrties
Total Expendlture
Net gains on investment
Net Incomel (expendlture
Reconclllatlon of funds:
Total funds brought forward
93,323
1,379,737
1,473,060
93,323
1,073,978
1,167,301
93,323
1,073,978
1,167,301
320 848
4431419
4 431419
Total fund8 Carried forward
4,752,267
4,752,267
12. Net Income I (Expenditure
Nel incomel {expenditurel is Stated after charging I Icreditingl..
2024
2023
Auditors, remuneration (net of VAT}- Audit fees
Auditors, remuneration (net of VAT)- Accountancy services
Depreciation
Lossl {Gainl on disposaj of assets
Unrealised (gainll loss on investments
14,140
12,900
117,571
2,999
25 896)
12,163
12,337
104,809
1271,6141
Page 24

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
13. Tanglble fixed assets
Freehold
property
Motor Fixtures and A55et5 under
vehides
fitb'ngs construction
Total
Cost or valuation
At 31 December 2023
Additions
Disposal$
3,222,1¢)4
402,317
47,243
(21,0991
420,935
34.677
461,092
189,854
4.506,448
271,774
121,0991
At 30 December 2024
3,222,104
428,461
455,612
650,946
4,757,123
Depreciation
At 31 December 2023
Charge for the year
On disposa
943,784
63,291
241,710
36.721
(18,1001
326,532
17,559
1.512,026
117,571
118,1001
At 30 December 2024
1,007,075
260,331
344,091
1,611,497
Not book valug
At 30 December 2024
2,215,029
168,130
111,521
650,946
3,145,626
At 30 Dec8mber 2023
2,278,320
160,607
94,403
461,092
2,994,422
Minor expenditure on fixtures and frttings for the individual houses is charged to revenue as the trustees
have taken the view that such rtems have a very limited useful lrfe.
Asset split across regions..
2024
2023
UK and Europe
USA
Kenya
Nigeria
Net book value
1,225,542
99,412
483,115
1,246,955
102,988
401,369
Page 25

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
14. Flxed asset Investments
Listed
investments
Cost or valuatlon
At 31 December 2023
Additions
RevalUat￿n$
296,921
215,000
25,896
At 30 December 2024
537,817
Net book value
At 30 December 2024
537,817
At 30 December 2023
296,921
There were no investment assets outside the UK
The investments of the Congregation as at 30 December 2024 ￿mPriSe monies invested with Intelligent
Capital stated at market value in the financial statements.
The investment is hebj as cash and in a personal portfdio comprising of mUlt￿aSSet and specialist money
market instruments.
15. Dobtors
2024
2023
Due wllhln one year
P￿PayMents and accrued income
50,181
49,606
16. Credltors: Amounts falllng due w5thln ong year
2024
2023
Other creditors and deferred income
105.783
242,742
Included in other creditors is deferred income of £72,57012023.' £212,455}. The 2024 deferred income is
in respect of grants all received before 30 December 2024 but in relation to activities to be delivered in
the next acuunts'ng period.
Page 26

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
17. Statement of funds
statement of fund$- current year
Balance at
31
December
2023
Balance at
30
December
2024
Transfers
inlout
Gainsl
{Losses)
Income Expenditure
Unrgstrlctgd
funds
Designatod
funds
Fixed assets
2,994.422
1117,5711
268,775
3.145,628
General funds
General funds
1,757.845
1,172,664 {1,257,8931
1268,7751
25.896
1,429,737
Total
Unrestrlcted
funds
4,752.287
1.172,664 {1,375,4641
25.896
4.575,363
Restricted
funds
Misean Cara-
Empowering
Baraka
Misean Cara-
Covi(k19
support
Misean Cara-
Health &
Wellbeing Kenya
Misean Cara-
Improving
Access, Quality
& Efficiency
Nigeria
Misean Cara-
Oplimizing
Management of
Highty Infectious
Diseases
Misean Cara-
Santa Chiara
Inclusive Primary
Edu¢alion
52,442
152,4421
2,154
{2,1541
20,605
120,6051
92,672
192.6721
33,920
133,9201
37,298
137,2981
Page 27

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
17. Statement of funds (contlnued)
statement of fund$- current year (contlnuedl
Balance at
31
December
2023
Balance at
30
December
2024
Transfers
inlout
Gainsl
{Losses)
Income Expenditure
Misean Cara-
Expanding
OrganisatKJnal
Capacity..
Becoming More
Effective and
Reaching the
Point of Long-
term Viability.
Misgan Cara-
Expanding
Organisat￿nal
Capacity..
Becoming More
Effeckn"ve and
Reaching the
Point of Long-
term Viability.
5,937
(5,9371
21,202
121,2021
266,230
1266,2301
Total of funds
4,752,267
1,438,894 {1,641,6941
25,896
4,575,363
Designated fiJnds- This is the nel book value of the fixed assets balance in the accounts.
Restricted funds - The restricted funds are made up of the Misean Cara grant income provided and the
expenditure relatsng lo the spend of grant ftJnd& Misean Cara support the aid of missionaries in
developing countries.
Page 28

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
17. Statement of funds (contlnued)
statement of fund$- prlor year
Balance at
30
December
2023
Balance at
1 December
2022
Transfers
inlout
Gainsl
{Losses)
Income Expenditure
Unrgstrlctgd
funds
Designatod
funds
Fixed assets
2.994,422
2.994,422
General funds
General Fund5
4,431,419
1,379,737 {1,073,9781 (2.994,4221
15.089
1,757,845
Total
Unrestrlcted
funds
4,431.419
1.379,737 {1,073,9781
15.089
4.752,267
Balance at
30
December
2023
Balance at
1 December
2022
Transfers
inlout
Gainsl
{Losses)
Income Expenditure
Rostrfctod
funds
Misean Cara-
Empowering
Baraka
Misean Cara- St
Lukes
21,601
121,6011
12,617
112,6171
Misean Cara-
Covid-19
support
Misean Cara-
Heajth &
Wellbeing Kenya
Misean Cara-
Human Rights
Kenya
10,808
110,8081
5,283
(5,2831
21,946
121,9461
Page 29

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
17. Statement of funds (contlnued)
statement of fund$- prlor year Icontlnuedl
Balance at
30
December
2023
Balance at
1 December
2022
Transfers
inlout
Gainsl
{Losses)
Income Expenditure
Misean Cara-
strengthening
IPC Measures
Nigeria
Misean Cara-
Supporting &
Reinforcing
Ex¢ellen¢e
Nigeria
10,534
110,5341
10,534
110,5341
93,323
193,3231
Total of funds
4,431,419
1,473,060 {1,167,3011
15.089
4.752,267
Designated hJnds- This is the nel book value of the fixed assets balance in the accounts.
Restricted fijnds - The restricted funds are made up of the Misean Cara grant income provided and the
expenditure relatsng lo the spend of grant hJnd& Misean Cara support the aid of missionaries in
developing countn'es.
18. Anafysis of net assets between funds
Anatysis of net assets between funds - current period
Restricted Unreslricled
funds
funds
2024
2024
Total
funds
2024
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
3,145.626
537.817
925.703
{33,7831
3.145,626
537,817
997,703
1105,7831
72,000
172,0001
Total
4,575.363
4.575,363
Page 30

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
18. Anatysls of net assets between funds {contlnued)
Anatysls of net assets between funds - prlor perlod
Unreslricled
funds
2023
Total
funds
2023
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
2,994,422
2.994,422
296,921
296,921
1,703.666
1.703,666
1242.7421 1242,742)
Total
4,752,267
4,752,267
19. Reconclllatlon of net movement In funds to net cash Ih>w from operatlng actlvltles
2024
2023
Net incomelexpenditure for the period las per Statement of Financia
Activities)
1176,9041
320,848
Adjustments for:
Depreciation charges
Gain on investments
Lossllprofil} on the sale of fixed assets
Increase in debtors
Increasel{decreasel in creditors
Interest received
117.571
{25,8961
2.999
15751
1136.9591
{56.3361
114,543
(15,0891
{271,6141
17411
160,972
16,375)
Net cash provided byllused in) operating activities
1276.1001
302,544
Anatysls of cash and cash equlvalenis
2024
2023
Cash in hand
947.522
1.654,060
Total cash and cash equlvalents
947.522
1.654,060
Page 31

FRANCISCAN SISTERS OF THE IMMACULATE CONCEPTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
21. Anatysls of changes In net debt
At31
December
2023 Cash Ilows
At30
December
2024
Cash al bank and in hand
1.654,060
17C6.5381
947,522
1,654,060
17C6,5381
947,522
Capital commitments
The charity has no capital commitments as at 30 December 2024 {r￿ne for 2023).
Related party dlsclosures
There were no related paty transactions for the year ended 30 December 2024 (none for 20231.
Page 32