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← The Sisters Of The Divine Saviour CIO

2023-12-31-accounts

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SISTERS OF THE DIVINE SAVIOUR

ENGLISH MISSION

Report and Accounts

31[st] December 2023

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 Saliamma Joseph Mission Superior Saliamma Joseph (Sister Leena Mary) 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 Simon Drury Independent Examiner Four Winds Russ Hill Charlwood Surrey RH6 0JL Bankers Drummonds At The Royal Bank of Scotland Group 49 Charing Cross London, SW1A 2DX Solicitors Stone King 13 Queen Square Bath, BA1 2HJ

Page 1

Sisters of The Divine Saviour, English Mission Trustees’ Report 31st December 2023

The trustees present the statutory report with the accounts of the CIO for the year ended 31st December 2023

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 5 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 2023

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:

TRUSTEES’ INVESTMENT AND OTHER POWERS

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

Page 3

Sisters of The Divine Saviour, English Mission Trustees’ Report 31[st] December 2023

REVIEW OF DEVELOPMENTS

In the year to 31[st] December 2023 the charitable organization continued to support its members in England.

The following activities are worthy of note:

FINANCIAL REVIEW

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

In 2023 general fund income was £30,624 compared with £29,283 in 2022, total resources expended was £73,478 compared with £86,090 in 2022, thus incurring a 2023 deficit of £42,855, before a transfer of £25,000 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 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 £6,816 as against £5,175 in the previous year.

Page 4

Sisters of The Divine Saviour, English Mission Trustees’ Report 31[st] December 2023

INVESTMENT POLICY

The charity’s investment portfolio was sold in 2009 and converted into cash. This is now invested in an Instant access Reserve Deposit and a Treasury Term Deposit, with the bank until a suitable alternative investment vehicle can be found in order to provide more income. The treasury Deposit, held with the RBS bank, returns a fixed rate of income over a fixed term.

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 2023

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

I report on the accounts of the organization for the year ended 31[st] December 2023, which are set out on pages 8 to 17.

Respective responsibilities of trustees and auditors

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit, under section 144(2) of the Charities Act 2011 (the 2011 Act), is not required for this year but that an independent examination is needed per section 145(1a).

It is my responsibility to:

Basis of Independent Examiner’s Report

My examination was carried out in accordance with 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 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view, and the report is limited to those matters set out in the statement below.

Independent Examiner’s statement

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

  1. which gives me reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with section 130 of the 2011 Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

have not been met; or

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

Simon Drury Four Winds, Russ Hill Charlwood Surrey RH6 0JL

Date: 31[st] March 2024

Page 6

Sisters of The Divine Saviour,Charitable Incorporated Organisation English Mission Statement of Financial Activities Year to 31 December 2023

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 2023
01 January 2023		 General
Designated
Restricted
31 December
Fund
Funds
Funds
2023
£
£
£
£
1,800
-
-
1,800
24,646
-
-
24,646
1,760
-
-
1,760
-
16,673
-
16,673
2,418
-
-
2,418
30,624
16,673
-
47,296
20,300
-
-
20,300
34,081
-
-
34,081
54,382
-
-
54,382
11,901
-
-
11,901
693
-
-
693
(1,165)
-
-
(1,165)
7,486
-
-
7,486
182
-
-
182
19,097
-
-
19,097
73,478
-
-
73,478
(42,855)
16,673
-
(26,182)
25,000
(25,000)
-
-
320,470
971,538
-
1,292,008
302,615
963,210
-
1,265,826

Page 7

Sisters of The Divine Saviour, Charitable Incorporated Organisation,English Mission Balance Sheet as at 31 December 2023

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		 £
£
647,569
576,441
1,224,010
15,000
31,816
31,816
5,000
26,816
1,265,826
291,055
974,770
1,265,826
2023		 £
£
647,569
576,441
1,224,010
15,000
31,816
31,816
5,000
26,816
1,265,826
291,055
974,770
1,265,826
2023
1,224,010
15,000
26,816
31,816
5,000
1,265,826
291,055
974,770
1,265,826

Page 8

Sisters of The Divine Saviour, English Mission Principal accounting policies 31[st] December 2023

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 (FRS 102) in January 2019.

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 (FRS 102) for charities, 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 accrual 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 FRS 102 Paragraph 3.1B.

Page 9

Sisters of The Divine Saviour Principal accounting policies 31[st] December 2023

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 the 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:

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 2023

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
£
£
-
15,897
-
776
-
16,673
665
-
1,552
-
9,222
-
8,861
-
20,300
-
24,432
-
5,192
-
4,277
-
120
-
60
-
-
-
-
-
-
-
34,081
-
476
-
1,640
-
2,044
-
7,660
-
-
-
81
-
11,901
-
7,486
-
7,486
-		 Total to
31/12/2023
£
15,897
776
16,673
665
1,552
9,222
8,861
20,300
24,432
5,192
4,277
120
60
-
-
-
34,081
476
1,640
2,044
7,660
-
81
11,901
7,486
7,486

Page 11

Sisters of the Divine Saviour, Charitable Incorporated Organisation, English Mission Notes to the accounts 31 December 2023

7
Tangible Fixed Assets
Cost
At
Addition in Year
Revaluation Reserve
At
Depreciation
At
Charge for period
At
Net Book Value at
8
Investments
Instant Reserve account
Balance
Interest earned
Investment Interest earned (Treasury Deposit)
Transferred from / (to) current account
Transferred from / (to) Treasury Deposit
Balance
Treasury Deposit
Balance
Interest earned
Transferred from / (to) instant reserve
Balance
Total bank deposits
9
Cash at Bank & in Hand
Bank Current account
Bristol Community
Yate Community
Petty Cash
10 Creditors: amounts falling due within one year
Accountancy
Other creditors
31 December 2023
31 December 2023
01 January 2023
01 January 2023
31 December 2023
01 January 2023
31 December 2023
01 January 2023
31 December 2023		 Land and
Buildings
645,491
-
-		 Motor
Vehicles
30,883
-
-
30,883
28,112
693
28,805
2,078		 Total
676,374
-
-
645,491 676,374
-
-		 28,112
693
- 28,805
645,491 647,569
2023
84,768
776
15,897
(25,000)
(20,000)
56,441
500,000
-
20,000
520,000
576,441
10,611
9,388
6,002
5,815
31,816
5,000
-
5,000

Page 12

Sisters of the Divine Saviour, Charitable Incorporated Organisation, English Mission Notes to the accounts 31 December 2023

11 General Fund

eral Fund
Balance b/fwd
Net excess of expenditure over income for period
Transfer from Pension fund
Balance
01 January 2023
31 December 2023		 308,910
(42,855)
25,000
291,055
12 Designated funds
Pension fund
Capital fund		 At
01/01/2023
179,467
803,631		 New
designations
16,673
-		 Utilised/
realised
(25,000)
-
(25,000)		 Balance at
31/12/2023
171,139
803,631
983,098 16,673 974,770

13 Analysis of net assets between funds

Analysis of net assets between funds
Fund balances at
are represented by:
Tangible fixed assets
Investments
Current assets
Creditors
31 December 2023		 General
Designated
fund
funds
252,552
395,017
-
576,441
46,816
-
(5,000)
-
294,368
971,458		 Total
31/12/2023
647,569
576,441
46,816
(5,000)
1,265,826

Page 13