**HANDMAIDS OF THE HOLY CHILD JESUS** **HANDMAIDS OF THE HOLY CHILD OF JESUS FINANCIAL STATEMENTS For the year ended 31 December 2024** 1 **HANDMAIDS OF THE HOLY CHILD JESUS** ## **HANDMAIDS OF THE HOLY CHILD JESUS** **----- Start of picture text -----**
CONTENTS
PAGE
Trustees Report 4-5
Independent examiner’s report 6
Statement of financial activities 7
Balance sheet 8
Notes to the accounts 9-12
**----- End of picture text -----**
2 **HANDMAIDS OF THE HOLY CHILD JESUS** ## **HANDMAIDS OF THE HOLY CHILD JESUS** ## **LEGAL AND ADMINISTRATIVE INFORMATION** Religious Supervisor Sr. Rita Etuk Trustees Sr. Elizabeth Wills-Obong Sr. Cecilia Essien Sr. Rita Etuk Charity number 1043448 Principal Address Ancilla Convent 4 Woodstock Crescent London N9 7LY Independent Examiner Michael Danso MBA MSc FCCA FFA FIPA 147 Wells Way London SE5 7SZ Bankers NATWEST Bank Plc 104-110 Fore Street Upper Edmonton London N18 2XA 3 **HANDMAIDS OF THE HOLY CHILD JESUS** ## **HANDMAIDS OF THE HOLY CHILD JESUS** ## TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report and accounts for the year ended 31 December 2024 The accounts have been prepared in accordance with the accounting policies in Note 1 to the accounts and comply with the charity’s trust deed dated 25[th] January 1994, applicable law and requirements of the Statement of Recommended Practice (Charities SORP), - ‘Accounting and Reporting by Charities issued in October 2000. ## **Objects of the Charity** The congregation of the Handmaids of the Holy Child Jesus is an international Religious Order, which is governed by a Superior General and General Council, with members working in Africa, United Kingdom, Europe, USA and many other parts of the world. The Charity Handmaids of the Holy Child Jesus is registered with the Charity Commission for England and Wales under the number 1043448. The governing instrument of the Charity is a Trust Deed dated 25[th] January 1994. Its principal objectives are charitable purposes connected with the Roman Catholic Religion and other charitable works of the order. The Policy of the Charity is to undertake a broad range of charitable activities. There has been no material change in Policy this year. There was no change in the apostolate during 2024. The Charity has three trustees all of whom are Sisters of the religious order working with the Superior. The Congregation’s membership in England is twelve. ## **Review of Activities** Members of the Congregation furthered the Charity’s charitable objectives by undertaking a broad range of charitable activities. In particular, the sisters in the spirit of the congregation provided nursing care and support in the local community. They also worked in partnership with Church communities such as the Ancilla Soup Kitchen serving and reaching out to the sick and homeless as well as working with young people and assisting in the education and underprivileged ## **Trustees** The trustees who served during this year were: Sr. Elizabeth Wills-Obong Sr. Cecilia Essien Sr. Rita Etuk 4 **HANDMAIDS OF THE HOLY CHILD JESUS** ## **HANDMAIDS OF THE HOLY CHILD JESUS** ## **Review of Financial Activities** the year, the charity had sisters’ salary as the main incoming resources of £236,183 (2023 £232,755). All the charity’s assets are held for the furtherance of the charity’s objectives and are adequate and sufficient to meet the charity’s needs. ## **Reserves Policy** It is the policy of the charity that unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to approximately 3 months’ expenditure. The trustees consider that reserves at this level will ensure that in the event of a significant drop in funding they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. ## **Risk Factors** The trustees have carried out a review of risks facing the charity and have instituted measures to mitigate identified risks. Law applicable to England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year (unless the charity is entitled to prepare accounts on the alternative receipts and payment basis). In preparing for accounts giving a true and fair view, the trustees should follow best practice and: - Select suitable accounting policies and apply them consistently - Make judgements and estimates that are reasonable and prudent - State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the accounts - Prepare the accounts of the on-going basis unless it is inappropriate to presume that charity will continue in operation The trustees are responsible for keeping accounting records that disclose with reasonable accuracy the financial position of the charity, and which enables them to ensure that the accounts comply with the applicable law. They are also responsible for the safeguarding of the assets of the charity and hence for taking responsible steps for the prevention and detection of fraud and other irregularities. On behalf of the board of trustees Signed ………………………….... Dated …24/10/2025 Sr. Rita Etuk (Trustee) 5 **HANDMAIDS OF THE HOLY CHILD JESUS** ## **INDEPENDENT EXAMINER’S REPORT** ## **TO COUNCIL OF TRUSTEES OF THE HANDMAIDS OF THE HOLY CHILD JESUS** ______________________________________________________________________________________ I report on the accounts of the charity for the year ended 31 December 2024, which is set out on pages 07 to 12 We have examined the Balance Sheet and the Income and Expenditure Account of Handmaids of The Holy Child Jesus for the year to 31 December 2024. 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 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. __________________________________________ Michael Danso MBA MSc FCCA FFA FIPA Anthony Michael & Associates Ltd Accountant & Management Consultants 147 Wells Way, London SE5 7SZ 6 **HANDMAIDS OF THE HOLY CHILD JESUS** ## **HANDMAID OF THE HOLY CHILD OF JESUS** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024** ||**Notes Unrestricted Designated TOTAL**
**TOTAL**
**Funds**
**Funds**
**2024**
**2023**
£
£
£
£
**Incoming Resources**
Sisters Salaries
236,183
0
236,183
232,755
Investment Income
0
0
0
0
Donations
345
345
0
Other Income
5,666
0
5,666
0
Total Incoming Resources
242,194
0
242,194
232,755
**Resources Expended**
Convent running costs
151,944
0
158,944
132,028
Mortgage Interest
9,424
9,424
3,725
Other running costs
78,790
0
72,540
52,120
Management and
Administration
1,000
0
1,000
1,000
Total Resources expended
241,158
0
241,908
188,873
Net income / expenditure
before transfers
1,036
0
1,036
43,882
Net income / expenditure
after Funds transfers
Fund Balance Brought as at
1 January 2024
165,413
0
90,491
119,481
Balance as at 31 December 2024
166,449
0 91,527 165,413| |---|---| 7 **HANDMAIDS OF THE HOLY CHILD JESUS** |**HANDMAID OF THE HOLY CHILD OF JESUS**|**HANDMAID OF THE HOLY CHILD OF JESUS**|||| |---|---|---|---|---| |**BALANCE SHEET**||||| |**AS AT 31 DECEMBER**||||| |||**2024**||**2023**| |**FIXED ASSETS**||755,453||746,018| |**CURRENT ASSETS**||||| |Cash in hand and Bank|14,729||14,086|| |Reserve Account|33,705||46,258|| |**TOTAL CURRENT ASSETS**|48,434||60,344|| |**CREDITORS:**Amount falling due||||| |within one year|-15,966||-16,219|| |**NET CURRENT ASSETS**||32,468||44,125| |**Total Assets less Current Liabilities**||787,921||790,143| |**CREDITORS:**Amount falling due||||| |after more than one year||-167,271||-170,369| |**NET ASSETS**||**620,650**||**619,774**| |**FUNDED BY**||||| |**Unrestricted Funds**||||| |Designated Fund||109,966||109,966| |Unrestricted Reserve||344,995||344,995| |Other Charitable Funds||165,699||165,413| |||**620,660**||**620,374**| On behalf of the board of trustees Signed ………………………….... Dated …24/10/2025 Sr. Rita Etuk (Trustee) 8 **HANDMAIDS OF THE HOLY CHILD JESUS** ## **HANDMAID OF THE HOLY CHILD OF JESUS** ## **NOTES TO THE ACCOUNTS** FOR THE YEAR ENDED 31 DECEMBER 2024 ## **1 Accounting Policies** ## **1.1 Basis of preparation** The accounts are prepared under historical cost convention ## **1.2 Incoming resources** All incomes are accounted for in the period to which it relates ## **1.3 Resources expended** All expenditure directly relates to the objects of the charity No fundraising or publicity expenditure has been incurred VAT is irrecoverable and is included with the category of expenses to which it relates ## **1.4 Tangible fixed assets and depreciation** Tangible fixed assets other than freehold land at cost less depreciation Depreciation is provided at rates calculated to write off the cost less estimated residual value over its expected useful life Freehold land is not depreciated Freehold buildings 0% at 20% on Furniture cost ## **2 Sisters' salaries** |Sisters' income
**3**
**Donations**
Donations received|**2024**
£
236,183
**2024**
£
345|**2023**
£
232,755
**2023**
£
0| |---|---|---| 9 **HANDMAIDS OF THE HOLY CHILD JESUS** ## **HANDMAID OF THE HOLY CHILD OF JESUS** ## **NOTES TO THE ACCOUNTS** FOR THE YEAR ENDED 31 DECEMBER 2024 ## **4 Total resources expended** |||Other||| |---|---|---|---|---| ||||Total|| ||Depreciation|Costs|2024|Total 2023| |||£|£|£| |Charitable expenditure|£|||| |Convent Running||||| |Costs|0|161,368|161,368|132,028| |Other Direct Costs|0|78,790|78,790|55,845| |Management and||||| |Administration|0|1,000|1,000|1,000| ||__|_______|_______|_______| ||0|**241,158**|241,158|**188,873**| ## **Payment due to the accountants is shown as accruals** ## **5 Trustees** None of the trustees (or any person connected with them) received any remuneration during the year ## **6 Employees** There were no employees during the year 10 **HANDMAIDS OF THE HOLY CHILD JESUS** ## **HANDMAID OF THE HOLY CHILD OF JESUS** ## **NOTES TO THE ACCOUNTS** FOR THE YEAR ENDED 31 DECEMBER 2024 |**7**|**Tangible Fixed Assets**|**Land and**|**Furniture**|**Furniture**|**Totals**| |---|---|---|---|---|---| |||**Buildings**|**& Fittings**||| ||Cost|£|£||£| ||At 01 January 2024|737,308||10,887|748,195| ||Additions|0||14,515|14,515| ||**At 31 December 2024**|**737,308**||**25,402**|**762,710**| ||**Depreciation**||||| ||At 01 January 2024|0||**2,177**|**2,177**| ||Charge for the year|0||**5,080**|**5,080**| ||**At 31 December 2024**|**0**||**7,258**|**7,258**| ||**Net Book Value**||||| ||**At 31 December 2024**|**737,308**||**18,144**|**755,453**| ||**At 31 December 2023**|**737,308**||**8,710**|**746,018**| |**8**|**Creditors: amounts falling**|**2024**|**2023**||| ||**due within one year**|£||£|| ||Bank Loans|15,206|15,619||| ||Accruals|750||600|| |||**15,956**|**16,219**||| |**9**|**Creditors: amounts falling**|**2024**|**2023**||| ||**due after more than one**||||| ||**year**|£||£|| ||Bank Loans|**167,271**|**185,388**||| 11 **HANDMAIDS OF THE HOLY CHILD JESUS** ## **HANDMAID OF THE HOLY CHILD OF JESUS** ## **NOTES TO THE ACCOUNTS** FOR THE YEAR ENDED 31 DECEMBER 2023 ## **10 Designated funds** The income funds for the charity include designated funds which have been set aside out of unrestricted funds by the trustees for a specific purpose: ## **Movement in funds** |Balance at
Incoming
Resource Transfers
1 January
Resources expended
2024
£
£
£
£
109,966
0
0
0|Balance at
31
December
2024
£| |---|---| ||109,966| ## **11 Analysis of net assets between funds** |**Unrestricted Designated**
**Funds**
**Funds**
£
£
Fund Balance at 31 December
2024 are represented by:
Tangible fixed assets
755,453
Current Assets
48,434
Creditors: amounts falling
due within one year
-15,966
0
Creditors: amounts falling
due after more than one year
32,468
32,468
737,308|**Total**
£
755,453
48,434
-15,966
787,921| |---|---| 12