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← Missionary Sisters Of St Columban Charitable Trust

2023-12-31-accounts

MISSIONARY SISTERS OF ST. COLUMBAN CHARITABLE TRUST

Registered charity number in England & Wales: 1109103 OSCR registered charity number: SC040753

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2023

The Missionary Sisters of St. Columban Charitable Trust Legal and Administrative Details

Trustees
Area Bursar
Principal Address
Telephone
Website
Charity Registration
No.
OSCR Registration No.
Independent Examiner
Principal Bankers
Solicitors		 Sister Anne Carbon (from April 25 2023)
Sister Susanna Choi (to April 25 2023)
Sister Josephine Hong (from Sept 2023)
Sister Mary McGuinness
Sister Catherine Midgley
Sister Anne Marie Smith
Sister Ursula Scullane
Sister Ursula Scullane
6-8 Ridgdale Street
Bow
London E3 2TW
0208 980 3017
www.columbansisters.org
1109103
SC040753
Moore Kingston Smith
LLP
Chartered Accountants
6thFloor
9 Appold Street
London EC2A 2AP
Virgin Money
Jubilee House
Newcastle-upon-Tyne
NE3 4PL
Pothecary Witham Weld
84 Eccleston Square
London SW1V 1PX

The Missionary Sisters of St. Columban Charitable Trust Table of Contents For the year ended 31st December 2023

Section Page Number
Report of the Trustees 1 - 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Accounts 12 - 17

Missionary Sisters of St. Columban Charitable Trust Report of the Trustees (continued) For the year ended 31st December 2023

The Trustees present the report and accounts of the Area of Britain and Northern Ireland of the Congregation of The Missionary Sisters of St. Columban Charitable Trust for the period 1st January 2023 to the 31st December 2023.

Introduction

The Missionary Sisters of St. Columban is an international Roman Catholic religious congregation. Founded in Ireland in 1922 where its Central House is still located, it is divided into eight Areas, all of which are linked and as such are not financially independent.

The accounts accompanying this report are the accounts of the Charitable Trust in which the assets of the Area of Britain and Northern Ireland are held. The financial statements comply with current legislation, the Trust Deed, and the Statement of Recommended Practice "Accounting and Reporting by Charities" applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 Charities SORP) published on 16 January 2014 .

Mission

The object of the area of Britain and Northern Ireland of The Missionary Sisters of St. Columban is to advance the religious and other charitable work carried on by the members of the Congregation and to care for those members throughout their lives with the Congregation.

The Sisters confirm that they have complied with the duty in section 11 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit.

Governance, structure and management reporting

Governance

In terms of Canon Law, the Congregation is governed at an international level by the Congregational Leadership Team, which consists of a Congregational Leader and three Councillors. They are elected every six years at a General Chapter.

The Area of Britain was previously governed by an Area Leader but, bearing in mind our small numbers, we looked at our leadership structure to see what would best facilitate our way of life, and have decided on a shared responsibility model.

Page 1

Missionary Sisters of St. Columban Charitable Trust Report of the Trustees (continued) For the year ended 31st December 2023

In terms of Civil Law, the Charity is governed by a trust deed, dated 19th September, 2004 and is a Registered Charity — Charity Registration No. 1109103. As all trustees, as detailed within the legal and administrative details page, are members of the Congregation they have a detailed knowledge of the work of the charity and of its structure. Since our structure here is very simple, they are well acquainted with it.

As the Trust operates in Scotland, registration with the Office of Scottish Charity Regulator was granted in August 2009. Our charity number is SC040753.

The Trust also operates in Northern Ireland where we are listed as a ‘Section 167 institution’ and have registered our intent to be registered as a charity as soon as the NI legislation is in place.

The names of the trustees are set out as part of the reference and administrative details on page1 of this report; brief bibliographical details on each of the trustees are given below.

Trustees’ Responsibilities

The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Charity law applicable to charities in England and Wales requires the trustees to prepare financial statements 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. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

Page 2

Missionary Sisters of St. Columban Charitable Trust Report of the Trustees (continued) For the year ended 31st December 2023

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. No payments have been made to the Trustees for their work as Trustees . The Trustees 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.

No evidence of fraud was noticed during the year and there were no ongoing legal issues or litigation. During the year the trustees attended in person and via zoom, conferences and seminars on legal and financial matters related to their role as trustees of the charity. Updates from the Charities Commission is forwarded to all trustees.

Structure and management reporting

The trustees meet, as required, to review everything with regard to the charity and its activities. When necessary, the trustees seek advice and support from the charity's professional advisors, including property consultants, solicitors and accountants and the Association of Provincial Bursars (associated with the Conference of Religious of England and Wales.)

In 2023 there were 7 Sisters in the Area of Britain. The Sisters engage in pastoral, social and other ministries. They have spent many years on our overseas missions; some are now in semiretirement. Our communities are situated in East London and Bangor, Co. Down, Northern Ireland. There is also one Sister in Scotland who has recently moved to a care home. The Sisters come together for at least two Assemblies each year to discuss matters relating to their life, living requirements, and their ministries. These meetings are planned for and organized by the group. During 2023 thanks to the lifting of all covid restrictions, inperson assemblies took place. Matters related to the day to day running of each community are regularly discussed within the community.

Property

The houses in which the Sisters live in Bow (London) belong to the Charity; they have no other property in the United Kingdom; the property in Bangor Co. Down is a parish house.

Activities

1. Caring for the members of the Congregation

As stated above under "Mission", the activities of the charity can be divided into three principal areas: caring for the members of the Congregation, the pastoral and social work of the Sisters, and the support of overseas missionary work.

The age profile of the Sisters is increasing as the members are growing older and there are no new members assigned to Britain. The age profile of the Congregation in the Area is as follows:

50 to 59 age group - 1 60 to 69 age group - 1 70 to 79 age group - 2 80 to 89 age group - 3

The Congregation provides care for its members, none of whom has any personal resources. The Sister in the care home in Scotland is visited regularly and is in frequent communication with the other communities. All the Sisters here have already devoted many years of service for the public benefit, in caring for the poor and marginalised as missionaries overseas. The aim of the trustees is to enable all the sisters in the Area to continue with their individual ministries for as long as possible.

Page 3

Missionary Sisters of St. Columban Charitable Trust Report of the Trustees (continued) For the year ended 31st December 2023

2. Social and Pastoral Work

In 2023 all covid restrictions had been lifted and more active volunteering was possible. In some cases, volunteer work continued to include new areas of ministry through the medium of zoom and online gatherings. Examples of voluntary work undertaken were:

Parish activities

Page 4

Missionary Sisters of St. Columban Charitable Trust

Report of the Trustees (continued) For the year ended 31st December 2023

A meditation session with WCCM

HOSPITALITY eei

Missionary Sisters of St Columban international “Care for our Common Home” team

One Sister from the UK is a member of the Missionary Sisters of St Columban international “Care for our Common Home” team. The team encourages prayer and action worldwide on this vital issue. This has included writing letters, making videos, social media posts and promoting participation in the “ Laudato Si Action Platform ” (a global Catholic Church initiative to mobilize the entire Catholic Church around this issue).

A few examples of activities that have been undertaken in our Area include:

“Pilgrimage for the Planet”

A Sister organised a walk along the Thames Path from the Cutty Sark to the Thames Barrier. Over 50 people took part. Along the way there were reflections, “Hearing Creation’s Song” (the beauty of creation), hearing Creation’s Cry (the damage we are doing to creation) and hearing Creation’s Call (what we are called to do at this time) and a visit to Greenwich Ecology Park.

Page 5

Missionary Sisters of St. Columban Charitable Trust Report of the Trustees (continued) For the year ended 31st December 2023

A parish pet blessing

A Sister organized a blessing of the pets of parishioners which was much appreciated. It was the first time that such an event had been held and all agreed that this should become an annual event.

“LAUDATO SI” PARISH COMMUNITY GARDENING GROUP

A Sister continues to encourage the work of the gardening group which meets weekly. As well as gardening, participants reflect and pray on the teaching of “Laudato Si” the encyclical letter written by Pope Francis on care of the earth, our common home. The produce of the garden is shared free of charge with all who come to the Sunday Masses.

Page 6

Missionary Sisters of St. Columban Charitable Trust Report of the Trustees (continued) For the year ended 31st December 2023

Human Rights

All Sisters in the Area pay attention to human rights issues and to issues that affect the human dignity of individuals or groups. They are aware of and support the promotion of issues related to justice, peace and the integrity of creation.

Administration

Some Sisters are also involved in the administration of the Congregation such as in leadership and finance. One Sister, a member of the Congregation Leadership Team, is on the Board of Directors of the Missionary Sisters of St Columban (International), a company limited by guarantee registered in the Republic of Ireland which overseas our charity work both in the UK and worldwide.

The aims of the trustees in the area of the pastoral and social work of the Sisters

The Trustees support and advance the religious and charitable works of the Charity. They receive no financial reward for this work. The trustees enable and encourage Sisters to find and carry out meaningful pastoral and social work especially with those in need after noting the Sisters’ ability, training and experience, and their health for tasks undertaken.

The Protection of Children and Vulnerable Adults

The trustees recognise the absolute necessity of ensuring the protection and safety of all those whom the members of the charity serve. This means that all Sisters in Great Britain and Northern Ireland have obtained clearance from the relevant authorities: DBS (Disclosure and Barring Service - England & Wales), PVG (Protecting Vulnerable Groups – Scotland), Access NI (Northern Ireland). Since October 2023 Sr Catherine Midgley is the appointed trustee and lead responsible for safeguarding and will do the training for Safeguarding Leads. During the course of the year four Sisters did safeguarding training for trustees conducted by RLSS (Religious Life Safeguarding Service).

3. Support of missionary work and ministry: grants and donations

Grants are decided on by the Congregational Leadership Team and the Congregational Treasurer. As there is no active fundraising in the Area of Britain, donation amounts decreased. Donations received that are designated for specific ministries in mission areas, are sent to our own Sisters for the specified needs in Pakistan, the Philippines and Myanmar. These donations are very much appreciated by our Sisters who continue to reach out to those most in need in these countries as they share in the joys and struggles of the people around them and act as a bridge between different religions and cultures. We are also very grateful for the prayerful support of so many people in Britain and Ireland.

Page 7

Missionary Sisters of SL Columban Charitable Trust Rep￿ ofthe Tnth (continued) For the year ended 31st December 2023 Achievements and Perf0m￿nCe 1. Care of the Members of the Congregallon: The charity has and continues to a&8iSt in every way the members of the Congregation in their charitable and religious work. The Sisters were enabled to find or continue to work happily as volunteers In their chosen ministy. 2. Soclal and Pastoral Wo Again, this year our Sisters were active in many lorms of social and pastoral work. In this way we constantly reach out to society in general, benefitting many people. 3. Rlsk Management The trustees looked al the various risks as detailed in the Charty Commission guidelines, not all of whlch are applicable to our situation. We are aware of rrsks and have taken note of them, such as care of our property. regular house maintenance, fi're safety. adequate house insurance as well as banking and Internet security. 4. GDPR The trustees take thelr lègal responslbllity seriously and discussed the provislons that are required for the implementation of the 2018 GDPR. We have registered as a Data Controller with the ICO and the registration Is up to dale. One Sister has done an online course In GDPR. Future Plan8: The Charws Trustees wlll continue with their present actwrtles lo meet the following oble¢tlves: To care for the Sisters and enable them to carry out their pastoral, soGial and caring minislrles To comply with their duty to have due regard to public benefit guidance. as they have been doing To support the work ol the Congregation in our overseas mrssb)ns. Re8•rv•s Pollcy At 31st December 2023 the Trust had reserves of £558,116 of which £501.995 is committed to tangible assets. The remainlng free reserves held by the Trust as at 31st December 2023 were £56.121. The Sislers do not believe il appropriate to hold free reserves beyond the level of regular community needs required for the operalion of each of Ihe houses. The current level of reserves represents approximately 3 months. regular expenditure estimated at which the trustees think is an appropriate level. Funding from the congregats'on lakes into account the level of reserves held by the charity at any point. Approved by the trustees and signed on their behaff by.. 07 ot Sr Ursula Scullan• Area Treasuref & Truslae Page 8

Missionary Sisters of St. Columban Charitable Trust

Independent Examiner's Report For the year ended 31st December 2023

I report to the trustees on my examination of the accounts of the Missionary Sisters of St Columban Charitable Trust for the year ended 31st December 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act') and the Charities and Trustee Investment (Scotland) Act 2005 (the Acts) and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply.

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in accordance with Regulation 11 of the 2006 Accounts Regulations and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act and Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 or Regulation 8 of the 2006 Accounts Regulations other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Adam Fullerton

(FCA, DChA) For and on behalf of Moore Kingston Smith LLP Chartered Accountants

6th Floor 9 Appold Street London EC2A 2AP

Date: 7 August 2024

Page 9

Missionary Sisters of St. Columban Charitable Trust

Statement of Financial Activities For the year ended 31st December 2023

Unrestricted
Note
funds
£
Income from:
Donations and legacies
2
41,234
Charitable activities
3
108,187
Bank interest
100
Total
149,521
Expenditure on:
Charitable activities
5
137,879
Total
137,879
Net income/(expenditure)
11,642
Funds Brought Forward
546,474
Funds Carried Forward
9
558,116		 Total
2023
£
41,234
108,187
100
149,521
137,879
137,879
11,642
546,474
558,116		 Total
2022
As restated
£
14,922
104,681
139
119,742
129,818
129,818
(10,076)
556,550
546,474

All activities derive from continuing operations.

All amounts for the current and preceding year were unrestricted.

The notes on pages 12 to 17 form part of these financial statements.

Page 10

Missionary Sisters of St. Columban Charitable Trust Balance Sheet For the year ended 31st December 2023 Not• 2023 2023 2022 2022 A8 rosta1￿ As restated Tangiblg Fixed Agsets 501,995 512.100 Current As•ets Prepaymen15 Cash al bank and In hand 1,678 58.102 1.530 37,024 59.780 38,554 Crgditor8: Amounts falllng due withln one year Amount due to Congregation Accrued expenses 3.659 4,180 3.659 4.180 Not Current A88e18 56.121 34.374 Total Asg9ts1999 Curreni Liabilitlè• 558.116 546,474 Unreslricled Funds 558.116 546,474 Totsl FundB 558,116 546,474 The notes on pages 12 to 17 lonn part of these financial statements. The financial statements were approved and authorised for issue by the trustees on and stgned on Ils behalf by.. -/,,/ao2* Sister Ursula Scullang Tnjstee Page11

Missionary Sisters of St. Columban Charitable Trust Notes to the Accounts For the year ended 31st December 2023

1 Accounting Policies

Your attention is to drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2016.

The Trust is a Public Benefit Entity as defined by FRS 102.

Basis of Accounting

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.

The principle accounting policies adopted in the preparation of the financial statements are set out below.

Going Concern Basis

The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charitable entity’s forecasts and projections and have taken account of pressures on donation and investment income. After making enquiries the Trustees have concluded that there is a reasonable expectation that the charitable entity has adequate resources to continue in operational existence for the foreseeable future. The charitable entity therefore continues to adopt the going concern basis in preparing its financial statements. There are no material uncertainties regarding going concern at the date of these

Income

Income is accounted for on a receivable basis and when the Trust is entitled to the funds, the amount can be reliably measured and it is probable.

Expenditure

Expenditure is included on an accruals basis and is directly attributed to functions. Support costs have been allocated to the activities which they support. Governance costs include those costs incurred in the governance of the charity and are primarily associated with constitutional compliance and statutory requirements.

Page 12

Missionary Sisters of St. Columban Charitable Trust Notes to the Accounts (continued) For the year ended 31st December 2023

1 Accounting Policies (continued)

Tangible fixed assets

Assets costing more than £250 are capitalised in the accounts at their cost to the charity.

The charity has adopted a policy not to revalue its freehold properties and feels it is sufficient to disclose the property on a historical cost basis to give a true and fair view of its activities.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost of each asset over its expected useful life. The estimated life of motor vehicles and fixtures and fittings is considered to be five years, IT equipment three years and freehold buildings fifty years.

Fund Accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors. Expenditure for those purposes is charged to those funds.

Financial Instruments

Debtors and creditors

Debtors and creditors receivable or payable within one year of the reporting date are carried at transaction price. Debtors and creditors that are receivable or payable in more than one year and not subject to a market rate of interest are measured at the present value of the expected future receipts or payment discounted at a market rate of interest.

Included within the financial statements are financial assets of £1,678 (2022: £1,530) and financial liabilities of £3,659 (2022: £4,180), measured at amortised cost.

Critical accounting estimates and areas of judgement

In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. There are no estimates that the Trustees consider would have a significant effect on the financial statements.

Page 13

Missionary Sisters of St. Columban Charitable Trust

Notes to the Accounts (continued) For the year ended 31st December 2023

2
Donations
Mission donations
Legacies
3
Charitable Activities
Grants received
Retirement fund/Pensions		 2023
£
4,035
37,199
41,234
2023
£
80,938
27,249
108,187		 As restated
2022
£
14,922
-
14,922
2022
£
80,000
24,681
104,681

Page 14

Missionary Sisters of St. Columban Charitable Trust Notes to the Accounts (continued) For the year ended 31st December 2023

4 Summary of Resources Expended

Area administation
Bank charges
Books and magazines
Chapel
Charity contributions
Clothing
Fees
CareHome Fees (Highland Council)
Food
Furniture
Ministry
Household
Insurance
Repairs & maintenance
Medical
Personal needs
Post, stationery & phone
Recreation/vacation
Rent
Sabbatical expenses
Retreats/seminars
Travel
Utilities & council tax
Assemblies
Legal & professional
Governance costs
(note 6)
5
Charitable activities
Direct community expenses (note 4)
Regional support costs (note 4)
Depreciation (note 7)		 Direct
Community
2023
£
-
-
1,413
98
3,307
1,884
-
13,174
12,505
-
4,206
2,810
2,159
2,136
1,925
2,049
6,119
3,277
-
4,311
4,717
5,995
6,324
-
-
-
78,409		 As restated
Direct
Community
2022
£
-
32
2,282
371
4,527
2,403
-
-
19,705
2,236
-
2,708
956
6,372
2,610
2,896
5,682
3,954
4,400
-
12,096
22,043
8,617
-
419
-
104,309		 Support
Costs
2023
£
36,826
-
-
-
-
-
3,655
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,697
5,187
49,365
2023
£
78,409
49,365
10,105
137,879		 As restated
Support
Costs
2022
£
7,500
-
-
-
-
-
1,629
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,672
3,180
14,981
2022
£
104,309
14,981
10,528
129,818

Page 15

Missionary Sisters of St. Columban Charitable Trust

Notes to the Accounts (continued) For the year ended 31st December 2023

6
Governance costs
Independent examination - current year
Independent examination - prior year under accrual
7
Tangible Fixed Assets
Freehold Land
and buildings
Cost
£
At 1st January 2023
616,490
Additions
-
Disposals
-
At 31st December 2023
616,490
Depreciation
At 1st January 2023
114,264
Charge for the year
6,165
Eliminated on disposal
-
At 31st December 2023
120,429
Net Book Value
At 31st December 2023
496,061
At 31st December 2022
502,226		 Fixtures and
Fittings
£
28,755
-
-
28,755
21,964
2,460
-
24,424
4,331
6,791		 2023
£
3,660
1,527
5,187
Motor
Vehicles
£
7,400
-
-
7,400
4,317
1,480
-
5,797
1,603
3,083		 2022
£
3,180
-
3,180
Total
£
652,645
-
-
652,645
140,545
10,105
-
150,650
501,995
512,100

All the fixed assets are used for the purpose of the Trust.

8 Trustees

No Trustee received any remuneration or was reimbursed expenses incurred specifically for duties as a Trustee in this year or last, but Trustees are also members of the congregation and their living expenses are funded on terms equal to all other members of the congregation.

The Trustees are considered to be the Key Management Personnel of the Charity.

9
Analysis of Net Assets between Funds
Fixed assets
Current assets
Current liabilities		 Total
2023
£
501,995
59,780
(3,659)
558,116		 As restated
Total
2022
£
512,100
38,554
(4,180)
546,474

Page 16

Missionary Sisters of St. Columban Charitable Trust

Notes to the Accounts (continued) For the year ended 31st December 2023

10 Prior period adjustment

Prior period adjustment
Net assets and unrestricted
funds at 31 December 2021
Deficit for year ended 31
December 2022
Net assets and unrestricted
funds at 31 December 2022		 As previously
reported
£
556,550
(498)
556,052		 Adjustment
£
-
(9,578)
(9,578)		 As restated
£
556,550
(10,076)
546,474

The 2022 cash at bank and in hand was overstated by £9,578 in the 2022 financial statements and this has been adjusted as above. There was no impact on funds as at 31 December 2021.

Page 17