THE DAUGHTERS OF DIVINE LOVE
COUNCIL OF TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023
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THE DAUGHTERS OF DIVINE LOVE
CONTENTS
| Page | |
|---|---|
| Legal and Administration Information | 3 |
| Council of Trustees Report | 4 |
| Independent examiner’s report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the accounts | 9 |
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THE DAUGHTERS OF DIVINE LOVE
LEGAL AND ADMINISTRATIVE INFORMATION
| Council of Trustees | Reverend Sister Margaret Duru | Reverend Sister Margaret Duru | Reverend Sister Margaret Duru |
|---|---|---|---|
| Reverend Sister | Emilia Arum | ||
| Reverend Sister Linda Uku | |||
| Reverend Sister Chilota Elochukwu | |||
| Reverend Sister Fidelma Chianumba | |||
| Reverend Sister Henrietta Nneka | |||
| Reverend Sister Jennifer Ekeigwe | |||
| Reverend Sister Ann Ugoh | |||
| Charity Number | 1005536 | ||
| Principal address | 70 Kempshott Road | ||
| London | |||
| SW16 5LH | |||
| Independent examiner | Michael Danso FCCA MBA MSc | ||
| Anthony Michael | & Associates Ltd | ||
| Accountants & Management | Consultants | ||
| 147 Wells Way | |||
| London | |||
| SE5 7SZ | |||
| Bankers | Barclays Bank Plc | ||
| Wood Green Group | |||
| PO Box 6370 | |||
| London | |||
| N22 6QQ |
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THE DAUGHTERS OF DIVINE LOVE
COUNCIL OF TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The council of trustees present their report and accounts for the year ended 31 March 2023
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity’s Trust Deed dated 16[th] March 1991, the Charities Act 1993 and the Statement of Recommended Practice, “Accounting and Reporting by Charities”, issued in March 2005.
Structure, governance and management
The congregation of The Daughters of Divine Love was established in England in 1991. The charity is governed by the trust deed dated 16 March 1991 and is registered with the charity commission under number 1005536.
The council of Trustees who served during the year were: Reverend Sister Margaret Duru Reverend Sister Emilia Arum Reverend Sister Linda Uku Reverend Sister Chilota Elochukwu Reverend Sister Fidelma Chianumba Reverend Sister Henrietta Nneka Reverend Sister Jennifer Ekeigwe Reverend Sister Ann Ugoh
The trustees are in the process of assessing major risks to the charity and are putting systems in place to mitigate those risks.
Objectives and activities
The objectives of the charity are to promote the charitable work for the time being carried on, promoted or supported by the voluntary associations of Roman Catholic women known as (the congregation) of the Daughters of Divine Love.
Achievements and performance
During the year the sisters continued to pursue their objectives operating from houses in London, Birmingham, Leeds, Newcastle and Inverness.
The congregation consisted of 50 sisters during the year with a large number of these continuing to work in posts as nurses and carers.
The leadership of the congregation was passed over in March 2005, bringing many changes and resulting in many more sisters contributing to the income and expenditure of the charity and enabling it to better fulfil its charitable objectives.
The School which was brought back to offer NVQs in the sisters’ area of specialism has separated from this charity and has formed a new charity with its own charity number.
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THE DAUGHTERS OF DIVINE LOVE
COUNCIL OF TRUSTEES’ REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Financial review
During the year to 31 March 2023, the charity generated income of £681,035 (2022 £643,238) from its principal activities.
Plans for the future
The trustees have been given the opportunity to purchase one of the properties which they currently rent. This is currently under review.
On behalf of the board of Council of Trustees
………………………………………… Reverend Sister Henrietta Nneka
Trustee
Date…31/01/2024…………………………
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THE DAUGHTERS OF DIVINE LOVE
INDEPENDENT EXAMINER’S REPORT
TO THE COUNCIL OF TRUSTEES OFTHE DAUGHTERS OF DIVINE LOVE
I report on the accounts of the charity for the year ended 31 March 2023, which is set out on pages 07 to 11
We have examined the Balance Sheet and the Income and Expenditure Account of The Daughters of Divine Love for the year to 31 March 2023. This account has been prepared in accordance with the Financial Reporting Standard for Smaller Entities and under historical cost convention.
Respective Responsibility of the Trustees and Independent Examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity‘s Council of Trustees consider that an audit is not required for the year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed. It is my responsibility (i) to examine the accounts under section 43 of the 1993 Act; (ii) to follow procedures in the General Directions given the Charity Commissioners under section 43(7)(b) and (iii) to state whether particular matters have come to our attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.
Independent Examiner’s Statement
In connection with our examination, no matter has come to our attention:
(1) Which gives us reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements.
have not been met; or
(2) To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
_________ 31/01/2024
Michael Danso FCCA MBA MSc Anthony Michael & Associates Ltd Accountants & Management Consultants 147 Wells Way, London SE5 7SZ
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THE DAUGHTERS OF DIVINE LOVE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 31 MARCH 2023 NOTES UNRESTRICTED DESINATED FUNDS FUNDS Incoming Resources Donations and legacies 2 0 Activities for generating funds 0 0 Investment Income 3 0 0 Incoming resources from Charitable Activities 4 298,237 0 Refurbishment Loan 5 382,798 0 Total Incoming Resources 681,035 0 Resources Expended 6 Charitable activities Direct charitable expenses 370,230 0 Mortgage Interest payment 43,834 0 Premises cost 40,560 0 Building Refurbishment 355,077 Total charitable expenditure 659,701 0 Governance costs 1,200 0 Total Resources expended 660,901 0 Net income for the year 20,134 0 Fund Balances as at 1 April 2022 1,418,996 0 Balance as at 31 March 2023 1,439,130 0 |
TOTAL 2023 0 0 298,237 382,798 681,035 370,230 43,834 40,560 355,077 655,701 1,200 660,901 - 20,134 1,418,996 1,439,130 |
TOTAL 2022 0 0 643238 0 643238 470079 41,355 42,120 66,732 620,286 1,200 621,486 21,752 1,397,244 1,418,996 |
|---|---|---|
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| THE DAUGHTERS OF DIVINE | LOVE | |||
|---|---|---|---|---|
| BALANCE SHEET | ||||
| FOR THE YEAR ENDED | 31 MARCH 2023 | 31 MARCH 2022 | ||
| Notes | £ | £ | ||
| FIXED ASSETS | ||||
| Tangible assets | 9 | 2,196,081 | 2,217,499 | |
| Investment | 9A | 830,066 | 447,268 | |
| CURRENT ASSETS | ||||
| Cash in hand and Bank | 88,135 | 38,831 | ||
| CREDITORS: Amount | ||||
| falling due within one year | 10 | (44,000) | (42,800) | |
| Net Current assets/Liabilities | 44,135 | (3,969) | ||
| Total Assets less Current Liabilities | 3,070,282 | 2,721,118 | ||
| CREDITORS: Amount | ||||
| falling due after one year | 11 | (1,489,254) | (1,217,122) | |
| Net Assets | 1,581,028 | 1,503,996 | ||
| Income Funds | ||||
| Unrestricted Funds: | 12 | 85,000 | 85,000 | |
| Other charitable funds | 1,496,028 | 1,418,996 | ||
| Total |
- | 1,581,028 |
1,503,996 |
The board of Council of Trustees Approved
Rev Sister Henrietta Nneka (Trustee)
Date: 31/01 2024
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THE DAUGHTERS OF DIVINE LOVE
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
1.1 Basis of Preparation
The accounts are prepared under the historic cost convention
The accounts have been prepared in accordance with applicable Accounting Standards, the Statement of Recommended Practice, “Accounting and Reporting by Charities”, issued in March 2005 and the Charities Act 1993.
1.2 Incoming Resources
Represents amounts received from salaried income by members during the year.
1.3 Resources Expended
Direct expenditure represents monies expended on communal living such as feeding and provision of basic needs for members.
Governance costs include general admin and management cost in compliance with relevant statutory and non-statutory requirements.
1.4 Tangible Fixed Assets and Depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:
Freehold land is not depreciated Fixtures, fittings & equipment 25% RB Motor vehicles 25% RB
2. Donation and legacies
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Donations and gifts | 0 | 0 |
| 3. Investment | 2023 | 2022 |
| £ | £ | |
| 0 |
**0 ** |
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THE DAUGHTERS OF DIVINE LOVE
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
4. Incoming resource from charitable activities
| Sisters Income | 2023 £ 298,237 |
2022 £ 642,569 |
|---|---|---|
4a. The drastic reduction of Sisters Income in the year was due to many Sisters being out of work in the hospitals during the pandemic. But most have returned to work and Sister’s Income will increase in future years .
5. Other incoming resource
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Other income | 0 | 0 |
6. Total resource expended
| Other £ Charitable activities Direct Charitable expenses Activities undertaken directly501,830 Premises costs DirectPremises cost 40,250 Mortgage Interest payment40,826 Total charitable expenditure590,906 Governance costs1,200 |
Total Total 2023 2022 £ £ 501,830 523,824 40,250 36,797 40,826 30,687 590,906 554,511 1,200 1,200 |
|---|---|
Governance costs include payments of £1200 (2022 £1200) to the Independent Examiner.
7. Council of Trustees
None of the Trustees (or any persons connected with them) received any remuneration during the year.
8. Employees
There were no employees during the year
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NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
| Tangible fixed assets Cost Additions Balance at 01 April 2022 Depreciation Balance at 01 April 2022 Charge for the year 31 March 2023 Net Book Value 31 March 2023 31 March 2022 Current Liabilities Creditors: amount falling due in one year Bank Loans Other Accruals Creditors: amount falling due in one year Long Term Liabilities Bank loans Refurbishment Loan Analysis of loans Not wholly repayable within five years Included in current liabilities Loan maturity analysis Debt due in one year or less In more than one year but less than two years In more than two years but less than five years In more than five years |
Land & Buildings £ 2,068,702 2,068,702 0 0 0 2,068,702 2,068,702 |
Fixtures, fittings & Equipment £ 236,526 29103 265,629 109,792 45,005 154,797 110,832 |
Fixtures, fittings & Equipment £ 236,526 29103 265,629 109,792 45,005 154,797 110,832 |
Motor Vehicle £ 35,600 |
|---|---|---|---|---|
| 35,600 | ||||
| 13537 5,516 |
||||
| 19,053 | ||||
| 16,547 | ||||
| 179,699 | 29418 | |||
| 2023 42,800 0 1,200 44,000 2023 £ 1,217,122 382,798 1,599,920 (45,800) 1,554,120 45,800 91,600 229,000 1,187,720 1,554,120 |
2022 £ 41,600 0 1,200 42,800 2022 £ 1,258,722 50,000 1,258,722 (42,800) 1,215,922 41,600 90,000 221,600 860,322 1,215,922 |
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