2024-12-31-accounts - The Sisters Of The Divine Saviour CIO

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SISTERS OF THE DIVINE SAVIOUR

ENGLISH MISSION

Report and Accounts

31[st] December 2024

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 Greta 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 Independent Examiner Simon Drury 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 LLP Upper Borough Court, 3 Upper Borough Walls, Bath BA1 1RG

Page 1

Sisters of The Divine Saviour, English Mission Trustees’ Report 31st December 2024

The trustees present the statutory report with the accounts of the CIO for the year ended 31st December 2024

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 three 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 2024

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 are prepared in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”),
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 31[st] December 2024

REVIEW OF DEVELOPMENTS

In the year to 31[st] December 2024 the charitable organization continued to support its members in England.

The following activities are worthy of note:

Bristol: There is a community of three at Bristol. This includes Sister Leena Mary works 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 the Bristol Convent.
Yate. As reported last year, Sister Fidelis, of the community at Yate, moved into residential nursing care and this move is now considered permanent. Although the remaining member of the community continues to undertake work in the local parish and the adjoining parish of Chipping Sodbury, it has been decided that the convent in yate should be sold and that process was underway at the year end and completed on 07/02/2025.

FINANCIAL REVIEW

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

In 2024 general fund income was £31,031 compared with £30,624 in 2023. Total resources expended was £87,927 compared with £78,412 in 2023, thus incurring a 2024 deficit of £56,895 before a transfer of £58,000 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 holdings 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 £8,961 as against £6,816 in the previous year. Whilst this is higher than the previous year, it includes a contribution to Nursing Home Care and the increased costs of living.

Page 4

Sisters of The Divine Saviour, English Mission Trustees’ Report 31[st] December 2024

INVESTMENT POLICY

The charity’s investment portfolio was sold in 2009 and converted into cash. This is now invested with the RBS bank in a Treasury Term Deposit, 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. Some funds are held in an Instant access Reserve Deposit for liquidity.

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 2024

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 2024, which are set out on pages 7 to 13.

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:

examine the accounts under section 145 of the 2011 Act,
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act, and
to state whether particular matters have come to my attention.

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:

which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with section 130 of the 2011 Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

have not been met; or

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: 19[th] March 2024

Page 6

Sisters of The Divine Saviour,Charitable Incorporated Organisation English Mission Statement of Financial Activities Year to 31 December 2024

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 (Profit) 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 31/12/2024 01 January 2024	General Designated Restricted 31 December Fund Funds Funds 2024 £ £ £ £ 1,800 - - 1,800 26,803 - - 26,803 460 - - 460 - 22,422 - 22,422 1,968 - - 1,968
	31,031 22,422 - 53,454
	25,246 - - 25,246 44,808 - - 44,808
	70,054 - - 70,054
	12,197 - - 12,197 520 - - 520 (4,000) - - (4,000) 8,371 - - 8,371 786 - - 786
	17,873 - - 17,873

	87,927 - - 87,927
	(56,895) 22,422 - (34,473) 58,000 (58,000) - - 291,055 974,770 - 1,265,826
	292,160 939,193 - 1,231,353

Page 7

Sisters of The Divine Saviour, Charitable Incorporated Organisation,English Mission Balance Sheet as at 31 December 2024

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	£ £ 647,050 540,863 1,187,913 15,000 28,440 28,440 - 28,440 1,231,353 292,160 939,193 1,231,353 2024	£ £ 647,050 540,863 1,187,913 15,000 28,440 28,440 - 28,440 1,231,353 292,160 939,193 1,231,353 2024
		1,187,913 15,000 28,440
	28,440 -

		1,231,353
		292,160 939,193
		1,231,353

Page 8

Sisters of The Divine Saviour, English Mission Principal accounting policies 31[st] December 2024

Basis of accounting

The accounts have been prepared on a receipts and payments basis under the historical cost convention, 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, any comparative figures have been prepared on a ‘like for like’ basis.

Income

All Income including that arising from legacies, donations and gifts, is credited to the statement of financial activities on a receipt 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 2024

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:

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 2024

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 £ £ 21,791 - 632 - 22,422 1,574 - 4,766 - 9,928 - 8,977 - 25,246 - 25,975 - 16,412 - 2,381 - 40 - - - - - - - - - 44,808 - 387 - 2,519 - 2,002 - 4,590 - 2,624 - 75 - 12,197 - 8,371 - 8,371 -	Total to 31/12/2024 £ 21,791 632
		22,422
		1,574 4,766 9,928 8,977
		25,246
		25,975 16,412 2,381 40 - - - -
		44,808
		387 2,519 2,002 4,590 2,624 75
		12,197
		8,371
		8,371

Page 11

Sisters of the Divine Saviour, Charitable Incorporated Organisation, English Mission Notes to the accounts 31 December 2024

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.

7 Tangible Fixed Assets Cost At Addition (Disposal) in Year Revaluation Reserve At Depreciation At Charge for period Disposal Depreciation 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 2024 31 December 2024 01 January 2024 01 January 2024 31 December 2024 01 January 2024 31 December 2024 01 January 2024 31 December 2024		Land and Buildings 645,491 - -	Motor Vehicles 30,883 (7,483) - 23,400 28,805 520 (7,483) 21,842 1,559		Total 676,374 (7,483) -
		645,491			668,891
		- -			28,805 520 (7,483)
		-			21,842

		645,491			647,050
					2024 56,441 632 21,791 (58,000) -
					20,863
					520,000 21,791 (21,791)
					520,000

					540,863
					16,934 7,891 3,280 335
					28,440
					- -
					-

Page 12

Sisters of the Divine Saviour, Charitable Incorporated Organisation, English Mission Notes to the accounts 31 December 2024

11 General Fund

11 General Fund	11 General Fund
Balance b/fwd Net excess of expenditure over income for period Transfer from Pension fund Balance At 01/01/2024 12 Designated funds Pension fund 171,139 Capital fund 803,631 974,770 01 January 2024 31 December 2024		New designations 22,422 -	Utilised/ realised (58,000) - (58,000)	291,055 (56,895) 58,000
				292,160
				Balance at 31/12/2024 135,562 803,631
	974,770	22,422		939,193

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 2024	General Designated fund funds 248,720 398,330 - 540,863 43,440 - - - 292,160 939,193		Total 31/12/2024 647,050 540,863 43,440 -
	292,160		1,231,353

Page 13