2021-12-31-accounts - The Sisters Of The Divine Saviour CIO

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

SISTERS OF THE DIVINE SAVIOUR

ENGLISH MISSION

Report and Accounts

31[st] December 2021 CIO Registration No.: 1174516

Sisters of The Divine Saviour, English Mission Contents

Reports

Legal and administrative information	1
Trustees report	2
Independent examiner’s report	6
Accounts
Statement of financial activities	7
Balance Sheet	8
Principal accounting policies	9
Notes to the accounts	11/13

Sisters of The Divine Saviour, English Mission Legal and administrative information

Trustees Marie Margaret Langton Greeta Freeman Mary Elizabeth Comerford Mission Superior Marie Margaret Langton (Sister Paula) Mission Bursar Marie Margaret Langton (Sister Paula) Mission Office Divine Saviour Convent Dillon Court Netham Road Redfield Bristol BS5 9PF CIO Registration number 1174516 Accountant and Michael Drury Independent Examiner 3 Court Avenue Old Coulsdon Surrey CR5 1HG Bankers Drummonds At Royal Bank of Scotland 49 Charing Cross London, SW1A 2DX Solicitors Stone King Sewell 13 Queen Square Bath, BA1 2HJ

Page 1

Sisters of The Divine Saviour, English Mission Trustees’ Report 31st December 2021

The trustees present the statutory report with the accounts of the CIO for the year ended 31st December 2021

INTRODUCTION

The Sisters of The Divine Saviour, English Mission, (formerly known as the English Region) is part of an international Roman Catholic religious order of women founded in Italy.

The accounts accompanying this report are those of a Charitable Incorporated Organisation on which the assets of the English Mission are held. The CIO is governed by a deed dated 4[th] September 2017 and is registered with the Charity Commission, Registration No: 1174516.

The English Mission, numbers 4 fully professed members living and working in 2 houses governed by The Mission Superior.

PRINCIPAL ACTIVITIES AND AIMS

The general objects of the trust are: The advancement of and support for the charitable work being carried on by the congregation or such charitable work as the trustees think fit in support of the Roman Catholic religion.

PARISH AND OTHER WORK

The Sisters’ main work is in helping to run local parishes, but they are also involved in local communities, frequently in an unpaid capacity, in education and chaplaincy work. They also help to organise and participate in programs of spiritual development and catechesis as well as visiting the sick and elderly.

ORGANISATION

Under the terms of the deed the order is run by the Mission Superior, (The Controller), and her Mission Council which is comprised of two members, including the Mission Superior, who are elected by the members of the order meeting in their regional assembly every three years.

The names of the trustees who served during the year are set out on the attached schedule of legal and administrative details.

Trustees are appointed by the Mission Superior.

Page 2

Sisters of The Divine Saviour, English Mission Trustees’ Report 31[st] December 2021

TRUSTEES’ RESPONSIBILITIES WITH REGARD TO THE ACCOUNTS

Each financial year, charity law requires the trustees to prepare accounts, which give a true and fair view of the state of affairs of the Sisters of the Divine Saviour, English Mission and the results for the period. In preparing the accounts the trustees have:

ensured that the accounts comply with the Charities Act of 1993 and as amended,
made judgments and estimates that are right and prudent,
followed applicable Accounting Standards without any material departures,
prepared the accounts as a going concern.

TRUSTEES’ INVESTMENT AND OTHER POWERS

According to the Deed the Trustees have the power, with the approval of the Mission Superior, to:

make investments of all or part of the property as they think fit,
call in and convert investments into money, and to vary and transpose investments,
sell trust property,
lay out trust money to improve trust buildings,
to accept donations,
to raise loans with or without interest.

Page 3

Sisters of The Divine Saviour, English Mission Trustees’ Report

REVIEW OF DEVELOPMENTS

In the year to 31[st] December 2021 the charitable organisation continued to support its members in England.

The following activities are worthy of note:

Bristol: One sister is engaged with visiting in the local parish. There is now a community of two at Bristol and two long term Indian sisters, Sister Leena Mary and Sister Grace Mary who are both working with the Indian community in the Fishponds parish. There are also at various times sisters visiting from other provinces in order to learn English. The Mission Office is also sited at Bristol.
Yate. There are two sisters in the house at Yate, one of whom is undertaking work in the local parish and the adjoining parish of Chipping Sodbury. There are, from time to time, sisters visiting from other provinces in order to learn English.

FINANCIAL REVIEW

A summary of the year’s results can be found on page 5 of the accountant’s report.

In 2021 general fund income was £26,617 compared with £29,114 in 2020, incurring a deficit of £71,390, before a transfer of £64,000 from the retirement fund.

RESERVES POLICY AND FINANCIAL POSITION

In the opinion of the Trustees the figure of £645,489 for land and buildings, is a figure that could still realistically be achieved if the property were to be sold. The trustees consider that this figure is not materially different from prices achieved for similar local properties sold on the open market and that in accordance with ED51 and SSAP 12 the expense of a professional valuation at this time is not justified. As each house is maintained to a high standard and is in constant use in furtherance of the trust’s objectives and as their resale value would not be less than their balance sheet value, depreciation is not charged.

The cost per capita of maintaining the sisters this year, excluding capital costs, was approximately £8,0000 as against £7,500 in the previous year.

Page 4

Sisters of The Divine Saviour, English Mission Trustees’ Report 31[st] December 2021

INVESTMENT POLICY

The charity’s investment portfolio was sold in 2009 and converted into cash which is now invested in Instant Reserve Deposit with the bank until a suitable investment vehicle can be found in order to provide more income.

FUTURE DEVELOPMENTS

The trustees are aware that they are increasingly constrained in the work they are able to undertake by the advancing age of the sisters and they recognize that the order is unable to undertake any further tasks other than in the local parishes. The assets have therefore been transferred into a Charitable Incorporated Organisation.

THE CHARITY’S ASSETS

Acquisitions and disposals of fixed assets during the year are recorded in the note to the accounts.

Signed on behalf of the Trustees:

Trustee

Approved by the trustees on:

Page 5

Sisters of The Divine Saviour, English Mission Independent examiner’s report 31[st] December 2021

Report of the independent examiner to the trustees of the Sisters of The Divine Saviour, English Mission.

I report on the accounts of the organisation for the year ended 31[st] December 2021, which are set out on pages 8 to 17 and which have been prepared under the historical cost convention and the accounting policies set out on pages 9 to 10.

Respective responsibilities of trustees and auditors

As described on page 3 you are responsible as trustees for the preparation of the financial statements; you consider that the audit requirement of the Charities Act 2011 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 145 (5)(b) of the 2011 Act, whether particular matters have come to my attention.

Basis of Independent Examiner’s Report

My examination was carried out in accordance with the general directions given by the Charity Commissioners. 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 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent Examiner’s statement

In connection with my examination, no material matters have come to my attention:

(a) Which gives me reasonable cause to believe that in any material respect:
the accounting records were not kept in accordance with section 130 of the Charities Act; or;
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Michael Drury 3 Court Avenue Old Coulsdon Surrey CR5 1HG

Date:

Page 6

Sisters of The Divine Saviour,Charitable Incorporated Organisation English Mission Statement of Financial Activities Year to 31 December 2021

Note Income and expenditure Incoming Resources Community Apostolate Pensions Donations Interest earned 1 Miscellaneous income Resources expended Premises 2 Community 3 Other expenditure Management & administration 4 Depreciation Loss on Disposal of Cars Donations 5 Miscellaneous Total resources expended Net incoming(outgoing) resources for the period Transfers between funds Balances brought forward Balances at 31 December 2021 01 January 2021	General Designated Restricted 31 December Fund Funds Funds 2021 £ £ £ £ 1,800 - - 1,800 22,788 - - 22,788 1,835 - - 1,835 67 875 - 942 127 - - 127
	26,617 875 - 27,492
	23,575 - - 23,575 48,783 - - 48,783
	72,358 - - 72,358
	17,906 - - 17,906 1,580 - - 1,580 - - - - 5,268 - - 5,268 1,770 - - 1,770
	26,524 - - 26,524

	98,882 - - 98,882
	(72,265) 875 - (71,390) 64,000 (64,000) - - 325,483 1,094,255 - 1,419,738
	317,218 1,031,130 - 1,348,348

Page 7

Sisters of The Divine Saviour, Charitable Incorporated Organisation,English Mission Balance Sheet as at 31 December 2021

Note Fixed Assets Tangible Assets 7 Investments 8 Long term loan to St Joseph's Current Assets Cash at Bank & in hand 9 Creditors:amounts falling due within one year 10 Net current assets Represented by: Accumulated funds General funds 11 Designated funds 12	£ £ 650,230 633,175 1,283,405 15,000 54,443 54,443 4,500 49,943 1,348,348 317,218 1,031,130 1,348,348 2021	£ £ 650,230 633,175 1,283,405 15,000 54,443 54,443 4,500 49,943 1,348,348 317,218 1,031,130 1,348,348 2021
		1,283,405 15,000 49,943
	54,443 4,500

		1,348,348
		317,218 1,031,130
		1,348,348

Page 8

Sisters of The Divine Saviour, English Mission Principal accounting policies 31[st] December 2021

Basis of accounting

The accounts have been prepared under the historical cost convention and in accordance with applicable Accounting Standards and the Statement of Recommended Practice on Accounting by charities issued by the Charity Commission in October 1995.

Comparative figures

The results for the year are presented in the form of a statement of financial activities in order to comply with the revised Statement of Recommended Practice for charities, as issued by the Charity Commission in October 1995 (and as identified in the Charities Act 1993). Comparative figures have been prepared on a like for like basis.

Income

With the exception of voluntary income arising from legacies, donations and gifts, all income is credited to the statement of financial activities on an accruals receivable basis.

Legacies are credited to the statement of financial activities once the charity has been notified of its entitlement to the income and the value of the legacy is capable of financial measurement.

Donations are credited to the statement of financial activities in the year in which they are received.

Expenditure

Direct charitable expenditure comprises direct expenses incurred on the defined charitable purposes of the charity and includes direct staff costs attributable to the activity Management and administration costs include expenditure on general administration and management and of compliance with constitutional and statutory requirements.

Cash flow

The accounts do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to prepare such a statement under Financial Reporting Standard 1 ‘Cash flow statements’.

Page 9

Sisters of The Divine Saviour Principal accounting policies 31[st] December 2021

Tangible fixed assets

Freehold land and buildings are included either at a value estimated by the trustees or at an historical cost. The Trustees do not consider that the expense of a professional valuation in order to ascertain the separate values of the land and buildings is justified.

The buildings are in constant use in furtherance of the charities objectives and are maintained to standards that ensure that they in a condition to carry out the work for which they are intended. Depreciation is, therefore, not charged.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant, fixtures and fittings 25% on cost in the year of acquisition or commissioning and then at a similar rate on the written down value.
Motor vehicles 25% on cost in the first year then at 25% on the written down value in subsequent years.

Fund accounting

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

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

The restricted funds are monies raised for, and their use restricted to, a specific purpose, or donations subject to donor-imposed conditions.

Taxation

The Charity is a registered charity and therefore is not liable for income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

Page 10

Sisters of the Divine Saviour, Charitable Incorporated Organisation, English Mission Notes to the accounts 31 December 2021

1 Investment income and interest receivable Dividends and interest on investments Bank interest 2 Premises Upkeep of buildings and grounds Repairs and renewals Fuel, light and water Insurance and rates 3 Community expenses Food, board and lodging Personal expenses Travel and holidays Divine worship Vocations and ongoing formation Funeral expenses Safeguarding Precept General Assessment 4 Management and Administration Printing, postage and stationery Telephone Motor and travel Accountancy Legal and other professional Bank charges 5 Donations Given Donations to various charities	General Designated Fund Fund £ £ - 875 67 - 67 875 4,503 - 2,895 - 10,308 - 5,869 - 23,575 - 23,104 - 5,657 - 4,804 - 165 - 269 - - - - - 14,784 - 48,783 - 2,131 - 1,102 - 4,244 - 6,629 - 3,800 - - - 17,906 - 5,268 - 5,268 -	Total to 31/12/2021 £ 875 67
		942
		4,503 2,895 10,308 5,869
		23,575
		23,104 5,657 4,804 165 269 - - 14,784
		48,783
		2,131 1,102 4,244 6,629 3,800 -
		17,906
		5,268
		5,268

Page 11

Sisters of the Divine Saviour, Charitable Incorporated Organisation, English Mission Notes to the accounts 31 December 2021

6 The entity is a Charitable Incorporated Organisation and is not therefore liable to income tax or corporation tax on income derived from charitable activities, as it falls within the various exemptions available to CIOs.

Land and Buildings 645,489 - -		Total 685,122 - -
645,489		685,122
- -		33,312 1,580
-		34,892

645,489		650,230
		2021 716,804 875 (84,504)
		633,175
	22,984.70 18,931.40 9,764.20 2,762.71
	54,443.01
	4,500 -
	4,500

Page 12

Sisters of the Divine Saviour, Charitable Incorporated Organisation, English Mission Notes to the accounts 31 December 2021

11 General Fund

eral Fund
Balance b/fwd Net excess of expenditure over income for period Transfer from Pension fund Balance 01 January 2021 31 December 2021	325,483 (72,265) 64,000
	317,218

12 Designated funds Pension fund Capital fund	At 01/01/2021 290,624 803,631	New designations 875 -	Utilised/ realised (64,000) - (64,000)		Balance at 31/12/2021 227,499 803,631
	1,094,255	875			1,031,130

13 Analysis of net assets between funds

Fund balances at are represented by: Tangible fixed assets Investments Current assets Creditors 31 December 2021	General Designated fund funds 252,275 397,955 - 633,175 69,443 - (4,500) - 317,218 1,031,130		Total 31/12/2021 650,230 633,175 69,443 (4,500)
			1,348,348

Page 13