Charity ragistralion number.. 1179823 Comboni Missionary Sisters CIO Annual Report and Financial Statement$ for the Yaar Ertded 31 December 2024 MG Audit Servi¢es Itd Chartered Accountants & Registered Auditors 166, College Road, Harrow HA1 IBH
Comboni Missionary Sisters CIO Contents Reference and Administrati Details Trustees, Report 2to7 Statement of Trustees. Respon$ibilibes Independent Auditors. Report 91012 Statement of Financial Activib"os 13to14 Balance Sheet Notes to the Financial Stslements 161025
Comboni Misslonary Sisters CIO Reference and Administrative Details Chairnian Sister Laura Lepori Tru$tses Si$ler Angela Colombi Sister Maria Magdalena Barragan Zermeno Sister Letehimanot Beraki Mekonen 2 Chiswick Lane London W4 2JF Principal Offic• Charity Registration Number 1179823 Sollcltors Druces LLP Salisbury House London Wall London EC2M 5PS Bankèrs Royal Bank of Scotland 62-63 Threadneedle Street, London EC2R 8LA MG Audit Services Itd Chartered Acc¢unlanls & Registered Auditor$ 166. College Road. Harrow HA1 IBH Auditor Page 1
Comboni Missionary Sisters CIO Trustees. Report The Iruslees prèsent the annual report togèther with the financial statements of the charity for the year ended 31 December 2024. Oblèctiv•s and activities Objects artd aims The main aim of the Comboni Missionary Sisters CIO in England and Scotland is to support the elderty members of the Order.. give the oppertunity to Comboni Sisters to study I refresh their English so that they may give a better service wherever they will bè appointed., and share wrth the local Church in UK the mi$sitsnary experience they have. In this way, they contribute lo thè local religiouslsocial activities of the Parishes where they live and sustain the charitable work carried out by members of the Order. mainly in health, education and pastoral work. The Order. whi¢h has its headquarter in Rome, is committed to the spread of the Christ18n message parti¢ularly where Chrisl is not known. Its members give attentitsn to the spiritual and human development of the people they livè with. Special attention 1$ given to the poor and needy règardless of theii ethnicity or religitsn in the vision of Sl. Daniel Comboni, for whom every one of every race and pla¢e is a brother tsr sister to be welcomed wrth great respect. The Order also has an obligation to provide care lor its mèmbers. none of whom have resouTce5 of their own. As the age prgfile increases so does the need to provide care for the elderly Sisters, both in UK and Italy. These Sisters have given their lives and talents to the sharing of the Good News through various ministries and now. they themselves, need care. Page 2
Comboni Missionary Sisters CIO Trustees. Report Objectives, strategies and activities e Combonl Sl d work in: afrioa Central African Republi¢, Cameroon, Chad, Congo, Egypt. Ethiopia. Erilrea, Kenya, Mozambique, South Sudan, South Africa, Togo, Uganda, Zambia Brail, Costa Rica, Ecuador, Mexico, Peru, Haiti. USA *4¥id Israel, Jordan, United Arab Emirates and Sri Lanka Ell02 UK, Italy, Portugal. Spain In hè . England and Scotland The Sisters working in different parts of the world depend on the Order General Council and not on the Si5ter5 in the UK. Individuals or Parishes or Groups may desire to help in the missionary work and they may send a donation. The Comboni Sisters are not financial involved with any group andlor agency on the above menli¢ned countries. The Sisters In UK are a bridge between Benèfaelors and the Sisters working in different areas of the world. The number of Comboni Missionary Sisters worldwidè is 956 at the end of December 2024. There are 28 Postulants and 11 Novices. In the UK on December 31 st 2024, there are 10 Sisters in England and 4 in Scotland. They come from UK. Ireland, Errtrea, Ethiopia, Portugal, Italy. Mexico. Sudan. Diversity of culture, age, education and background is an opportunity lo wi(ne8s oneness in God and to educate ourselves lo live out and to value diversty. The Comboni Sisters in England and S¢olland welcome the Sisters ol the Order when they come to refresh iheir English language. lo upgrade their professional skills or for a period ol spiritual renewal to better serve the people wherever they will be assigned by our General Leader and her Council. Page 3
Comboni Missionary Sisters CIO Trustees, Report Formation The Comboni Missionary Sister$ in tha UK have contributed spècifically to the field of formation with £3.470 for Sisters. formation and spiritual accompaniment . £3,328 lor the Annual RelTeal for the Si$ters, a week of silence and prayer Trmth the Lord £2,427 for membership in organizations such as RLSS. Religious knfe Safeguarding Service, and CSSA, Catholi¢ Safeguarding Standards Agency and thè Association of Provincial Bursars. In addition. the Communits'es in the UK give room I board and support lo the Comboni Sisters who Come to the UK from other Province5 for a time of spirilual renewal andlor for learning I refreshing the English language before returning or going for the first lime to the Missions. The Sisters have been maintaining personal contscl with people they know through phone ca115 and. when possible visits, to alleviate a sense of solitude people experience due to health and psychological silualions. Participation in the life of the Parish has been carried on. Whenever it was possible, the Sisters have been attending the Celebration ol the Eucharist. Adoration and some other pa$loral activities. Three Si5ter5 have a twice weekly commitment with parishioners after moming Mass where they lakè the opportunity to listen and support them. Voluntary WOTk with the elderly, homele5sllmmigrants and Refugees continues. A Sister. who is home bound, continues to be in lou¢h with many people Ihrou9h telèphone and online rninistry to offer her support and prayer. Another Sister goes lce a week lo volunteer in Aclon Homeless Project. She is involved a group of refugee women. She listens to them and helps w4th the distribution of clothing. Above all, what helps the most, is staying with them and listening to their stories, theif suffertngs and their hopes. The$e women are from different cultural and ligIon backgrounds. In ctsllaboration with the JRS (Jesuits Refugee Servicel a Sister of Ethitspian nationality. is in contact, online. with an Ethiopian group. Knowing the lan9uagè, the Sister can relate lo the people in a spe¢ial way by understanding and directing them. whenever possible, lo the right agency or institution. One Sisters Is available for service at the Caritas Bakhita's House. When shé is called she helps the imrnigrant women through listening and supetvising. It is a very delicate and important service given to women and children who find themselves in a particular and very sad situation. The same Sister 15 responsible for Mission Appeals." an opportunity to make Christians aware of their ¢all lo celèbratè God's life in each person. to promote the Gospel proclamation and collaboration within the Catholic Church around the wgrld. Usually parishes welcome this sharing which is an opportunity to hear the global mis$ion of the Church and participating into rt. Page 4
Combonl Missionary Sisters CIO Trustees, Report All the Sisters, in thÈir dealings with people. friends and parishion•r$, share the experiences they have lived in other countries, raising awareness of different Situations. cultures, realities of women. refugees and human trafficking. The Sisters, house is o ntoth ublic for.. Weekday Masses.. usually on¢e a week depending On the availability of the Prièst Yearly Celebrations such as Comboni's Oay. Open House Day, Bakhita's Day and Anniversary Celebrations. Individual encounters with peopFe Individual prayer Encountering pèoplè at a personal level and praying together in OUT chapel has a positive effect on people's lives and on our own. r for all A5 Comboni Missionary Sisters we gather daily for prayer in the Chapel. We do not pray only for ourselves but also for the entire world. Thus, in our prayer, we present the situation of eaeh pèr50n lo the Lord and pray for peace and wellbeing for all. We present to the Lord the suffering of people who havè Ond are endurin9 the pain of war. We pray al$¢ for all the people who are involved In a peace making process. Al Chiswck. wé h8ve a Centre for Spirituality and Mission, called Combgni Centre A Sister is particularly dedicated lo promote the C¢mboni Mission Spirituality in UK which includes the values of universalty. tolerance. respect of differences, human dignity for everyone and awareness of the preciousness of humankind and creation. Other Sisters help and they do this by slening lo people during r$Oal encounters Leading groups and individuals into prayer life and church involvement Supporting ytsung couplès through monthly gitsup sessions. This year. the Alpha Children Parenting Course was much appreciated Forming Missionary Prayer Groups to reach out wrth prayer and social a¢tion also with the help of lay people. Facilitating Monthly Retreats for all ages Visicing Parishes in the Diocese lo promote mission awareness • Or9anizing projects to support the Comboni Sister's missiony abroad. The commitment of a semess and invaluable servsce is shown in a very practical way in the lay volunteers at the Cenlre. More lay people got involved with helping the si$lers lo organize and pa'cIpate In the vanous activities and events that support our charitable work. Page 5
Comboni Missionary Sisters CIO Trustees. Report The activities and events during thè year 2024 had a gfeal impact in Community building. The Comboni Centre organizèd events in our Parish, Our Lady of Gr?¢e and St Edward, Chiswick. On& of these was Its support thè Diocesan Secondary School Sl. Jo$&ph in Gidel, Nuba Mountains. SCOTLAND Our Sisters, residing in the Parish of St. Paul's, Foxbar, Paisley, entered the year 2024 continuing and consolidating their contacts in the p8ri$h and with the people in liturgical and social aCtive5. Each sought to extend activities to include WOTk among migrants and those with learning difficulties. The Si$ter$ organised and carried out mi55ion appeals covering 19 parishes in Glasgow Archdiocese and Motherwell Diocese. The appeals arè allocated by Mission Scotland. The Sisters distribute the quarterly Comboni Mi58ion$ magazine and Comboni Mission calendars as a means of keeping ¢ontact with friends of the Comboni family and as a form ol missionary awareness and fundraising. Members of the Comboni Community also attended rneetings ol Safeguarding, the Conference of Religious in Scotland, the Parish Council. and social events for fundraising. However, towards the middle of the year, the possibility Ihat the Parish would be closed became evident. At fir31. the St. Paul's Parish Council met to discuss ways of saving the parish. or using the facilities diversely in order to keep the presence of the Catholic community in the area. All was in vain and the last Holy Mass was celebrated on 31st August of 2024 followed by a farewell party in the parish hall. Meanwhile, the bishop ol Paislèy Diocese indicated to the Sisters that they were welcome lo remain in the dio¢e5e and could relocate to the parish house of Holy Family PaTrsh, Port Glasgow, Inverclyde. a distance of around 14 miles wesl of Paisley. The Community belongings were packed and thé Comboni Community lèft their Foxbar home on 10th September and moved into the new premises which had been visited and judged suitable $t>me weeks before. From Port Glasgow the Sisters continued the commitrnents they had undertaken,. one Sister continued to help migrants at the Jesuit Cenlre, GI859{, and do Night Pastoring Oncè a month. Another Sister conts'nued lo help al thè Wayside Centre in Glasgow, giving meals to homeless and unemployed, the elderly and immigrants. Another Sister began lo make acquaintances with thè parish priest and parishioners of both parishes namely Holy Family and St. Franci5 of Assisi. And another has kept contact with St. Paul's Primary School by helping the choir, and by wsiting the Handi¢raft Group in their new meèting place. Financia •Nice The Comboni Missionary Sist•rs shared of their Income £7.600 with the Elderly Sisters in Italy for their wellbeing and £5,909 as a contribution lo the General Administration. Rome. and Casa Madre Fityrentina, Vèrona, a medical centre for the Sisters who return from the rrissions and need medical care. Donations received for a mission are sent to our Mission Proctjre in Rome and from therè foarded to the missions to support the social, humanitarian and Christian activities our Sisters Carry out in different parts of the world. The beneficiaries are children, young girls and boys. women and larnilie5. The Sisters give attention lo sick people and it is a true challenge to help them when they may need medical assistsnce. In the midst of all this support, It is energizing to know that some local people, like doctors or teachers. give an invaluable ¢ontribution to better the condition ol thèir own people. lo Thè Comboni Missionary Si51ers' part-lime emplo ee in Chiswick is paid a Liwng Wage salary.
Comboni Misslonary Sisters CIO Trustees, Report The trusteès confirm that they have complSed the requirements of sèction 17 of ihe Charsties Act 2011 to have due regard to the public benefit gLtidance publishèd by the Chanty Commission for England and Wales. Financlal r•vi•w Thè income for the PÈTtod lotslled £278,297 1£243.974 in 2023) and after dÈducling expÉnsÈs of £284,999 1£307.148 in 2023. Tha Charity also has unrealised gain on investment assets of £121,143 1£106.887 in 20231. The Charity had a net surplus of £112,441 (£43,693 in 20231. Further informat¢on is available in the statement of finandal activities. Pollcy on reseryes Thè Trustees are satlsfied with the firjancial posilion. RèsÈNèg are at a level which is eonsideTed sufficient for Ihtr Charity to fulfil its obll9ation$ for al least a year. structure. gov•rnance and management Nafurt of goyeming doeum•nt Comboni Missionary Sisters CIO Ipremously known5 as Mi5SK)nary &sters of Veronal ¢ommen¢ed on 05 S¢ptembeT 2018 and is registered with the Charity Commis$ion, Charity Registratlon No. 1179823 in England and the Scotii$h Charity Regisier, Registration nuffjber SC048759. Organisational stmetur• The Charity ha5 four Iruslee5 appointèd by tha Superior General of the otil8r. The promnce is administered by the Provinci81 Superior Sister Laura Lepori, she is supported by the trustees Major risks and management ofthts5e risk$ The tiustees have a dity to identfy and review the risks to which Ihe charity is exposed arsd lo ensure appropriate controls are in place lo provide reasonable assurance against traud and errol. The Trustees h3ve conducled Iheir own ieview of the major risks to which Ihe Charity is exposed and systems have been establlshed to rnitvJate those risks. The58 Systems are perdIcallY fevlwfvd to ensurè thal they still meet the needs ol the Charity. The annu¥ report was approved by the Iruslees of Ihe charlty on¢l-lo.: lol s and signed on its behalf by.. Sister Angela Tru51ee olombi Pagg 7
Comboni Missionary Slsters CIO Statement of Trustees. Responslbllltles The trustees are responsible for prepaiing thè tfUStees' report and the financial statements in 8wordanee with the United Kingdom Accounting Standards (United Kingdom Generally Aecepted Accountin9 Practice) and applicable law and regulations. Thè law applicablè to ¢h81itiès requires th¢ trustees to prepare financ4al statements for each financial year which givè a true and fair v4ew ol the stale of affairs of the charity and of thè incotning resources and appliGg1ion ol resources of the charity for Ih8t period. In prepar¢ng these financial statements, the Irustee5 are required to.. select suitable acLounting pollaes and then apply them con¥islently'. observe the methods and princlples in the Charities SORP., make judgèments and estimates Ihat are reasonable and prudent., statè whether applicable accounts.ng standards have been followed. subj1 lo •ny matefial departures disclosed and explained in the financial statèments,. and prepare the financial statements on the going concern basis unless it is inappropriate lo presume that Ihe Charity Trfyill continue in business. The trustees are responsible for keeping proper accounting re(rdS that dSsdose with reasonable accuracy al any I'me the finanual position of the charty and enable them to ensure that the financial statements comply with the Charities Act 2011. the applirAblè ChatieS (Accounts and Reports) Regulation5, and the provision5 of the constitution. The trustees are also responsible 10153fgguaiding the assets ol (he charrty and hence for taking reasonable steps for the prèvention and detection ol fraud and other irregularities. Approved by the twslees of the charity on 01.10-lo2*nd signed on ils bphalf by.. Si51er Angela Trustse olornbi Page 6
Comboni Misstonary Sisters CIO Independent Auditorfs Report to the Members of Comboni Missionary Sisters CIO Opinion Vve have audited the financial statemènts of Comboni Missionary Sisters CIO (the 'charity'l for the year ended 31 December 2024, which comprise thè Statèment tyf Financial Activrties. Balance Sheet, and Notes to the Financial Slalemenls. including a summary ol significant accounting policiès. The financial reporting framework that has been applied in their preparation is United Ki'ngdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicablè law Iunited Kingdom Generally Accepted Accountin9 Practice). In our opinion the financial statements". give a true and fair view of the state of the charty's affairs as at 31 De¢wrber 2024 and of ils results for the year then ended", have been properly prepared in accordance wrth Unitèd Kingdom Generally Accepted Accounting Practice". have been prepared in a¢cordan¢e with the requirements of the Charities Act 2011. Basis for opinion Vve conducted our audit in accordan¢e with International Standards on Audth'ng IUK) IISAS {UKII and applieablè law. Our responsibilib'es under those standards are further described in the Auditor's responsibilities ltsr the audrt of the financial statements section of our report. We arè Independent of the hanty in accordance wth the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fuffilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtainèd Is sufficient and appropriate lo provide a basis lol our opinion. Con¢lu$ion$ relating to going concern We have nothing lo report in respect of the following maiters in rèlation to whi¢h the ISA5 IUKI qUIre u5 to report to you wherè.. the trustees use of the going concern basis of accounting in the preparation of the financial statements is not approprialtr, or the truslees have not disclosèd in the finan¢i31 stslemenls any identified material uncertainties that may ca51 significant doubt about the charity's ability to continue lo adtspl the going concern basi5 of accounting for a period of at least twelve months from the date when the financial statements are aulhorised for issue. other inforniation The trustees are responsible for the other information. The trlher information comprises the information included in the annual report. Qlher than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and. except to the extent otherwsè explicitly slated In our report. we do not express any form of assurancè Conclusion Iherèon. Page 9
Comboni Mlssionary Sisters CIO Independent Auditorfs Report to the Members of Comboni Missionary Sisters CIO In connection wth our audit of the fn8n¢la1 statements, our responsibility 1$ to rèad the other inlormalion and. in doing so. consider whether the other information Is materially inconsistent with thè financial ststements or our knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misslalemenls, wè are required lo detèmine wheth&r there is a material misstatement in the financial statements or a material misststement of the other information. If. based on the work we have performed, we conclude that there is a material misststernent of this other information, we are required to report that fact. We have nothing to report in this fegard. Matters on which we are required to r•port by exception In the light of our knowledge and understsnding of the charity and ils environment obtained in the course of the audit. we have not identified material misstalemen15 in the Trustees, Report. We have nothing to report in respect of the following matters where the Charibes Act 2011 requires us lo report to you if, in our opinion.. adequate accounting records have not been kept. or returns adequate for our audit have not been received from branches not visited by us". tsr the financial statemenlg are not in agreement with the accounting fe¢ord$ and returns., of ertain disclosures of trustees remuneration specified by law ¥re not made., or we have not received all the information and explanations we require for our audit. R•sponsibiliti•s of trustees As explained mtsre fully in the Statement of Tru$tèes' Responsibilities Isel out on page 81. thè tnjstees are responsible for the preparation gf the financial statements and for bein9 satisfied that they give a true and fair view. and lor $u¢h internal control as the Iruslee5 dètèrmine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial $tatements, the trustees are re3ponsib1e ftsr assessing the charity's ability to ¢ontinue as a going concern. disclosin9, as applicable, matters related to going concèm and using the going concern basis of accounting unless the trustees either Intend to liquidate the charity or lo cease operations. or have no realistic alternative but to do 59. Auditorfs r6sponslbilities for the audit of thè financSal statements Otjr objectives are to obtain reasonable a55uran¢è about whether Ihe financial Statements as a whole are free from material misstatement, whether due lo fraud or error. and lo issue an auditor's report that includes ¢ur opinitsn. Reasonable assurance 15 a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when il exists. Misslalem&nl$ ¢an arise from fraud or erior and are considered material if. IndvidUallY or in the aggregate, they could reasonably be expected to influence the economic deei$ions ol users taken on the basis of thesè financial ststements. As part of an audit in accordance with ISAS IUKI, we exercise professional judgement and maintsin professional sceptiC151n throughout the audit. We also.. Page 10
Combonl Missionary Sisters CIO Independent Auditor's Report to the Members of Comboni Misslonary Sisters CIO Identify and assess the risks of matèrial misslalement of the financial statements, whether due to fraud or error, design and perfomi audit procedures responsive t¢ those risks. and obtain audit evidence that 1$ sufficient and appropriate to provide a basis for our opinion. The risk of not dele¢ling a material misstatément resulting from fraud is higher than for one resulting from error, as Iraud may involve collusion, forgery. intèntional omissions, misrepresentations, or thè overridè of internal control. Obtain an understanding of internal ntrol relevant to the audit in order to de$i9n audit procèdure$ that are appropriate in the circumstances, but not ltsr the purpose of expressing an opinion on the effectiveness of the charity'$ internal control. Evaluate the appropr¢ateness of accounbng policies used and the reasonableness of accounting estimate$ and related disclosures made by the trustèès. Condude on the appropriateness of the trustees use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability lo continue as a going concern. If we conclude that a material uncertainly exists, we are required to draw attention in our auditor's report lo the related disclosures in the finanaal statements or, Il such disclosures are inadequate, to modify our opinion. Our eon¢lusion5 are based on the audit evidence obtained up lo the dale of our auditor's report. However. future events or conditions may cause the charity to cease to continue as a going concem. Evaluate the over311 presentslion. Structure and content of the financial slalemenls. including the disclosures. and whether the finanaal statemènts represent the underlying transactions and events in a manner that achieves fair presentation. Obtain sufficient appropriate audit evidence regarding the financial information of the entitie$ ¢r business a¢livitie5 Wlthin the charity to express an opinion on the financial statements. We are responsible for thè direction. supervision and performance of the charty audit. We remain solely responsible for our audit opinion. We communi¢ale with those charged with governance regarding. amtsng other matters. the planned scope and timing of the audit and significant audit findings, including any significant defi¢ien¢ie5 in internal control that we identify during our audit. Us8 of our r•port This report is made solely lo the charity trustees, as a body. in arKordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our work has been undertaken $0 that we might State to the trustees those matters we are required lo state lo trustees in an auditors, report and for no other purpose. T¢ the fullest extent pemiitted by law, we do not accept or assume responsibility lo anyone other than the charity and its trustèes as a body, fol our audit work, for this report, or for the opinion$ we have foimed. Page11
Comboni Missionary Sisters CIO Independent Auditor's Report to the Members of Comboni Missionary Sisters CIO Othèr mattér The financial statements for tl)è yèar ended 31 December 2023, forming ¢orresponding figures for the year endèd 31 Deeember 20 are unaudited. Gavin Fern Senior Statutory Auditor) For and on behalf of MG AL¢dit Services Ild, Stslutory Auditor 166, College Road, Harrow HA1 IBH Date.. Page 12
Comboni Misslonary Sisters CIO Statement of Financial Actlvltles for the Year Ended 31 December 2024 Unrestricted fund$ Re$trlcted funds Total 2024 Note In¢ome and Endowmonts from: Donations and legacies Investment income Other incomè 94,644 120.736 60,915 94,644 120.738 60.915 Total incorne 276,297 276.297 Expenditure on: Charitable activities Other expenditure Total expÈndilure Net gain on investment assets 1266,8521 18,147 1266.8521 18,147 1284,999 121,143 284,999 121 143 Net movement in funds 112,441 112,441 Reconciliation of funds Total funds brought fOard 4,372,498 40,496 4,412,994 Total funds carried forward 4,484,939 40.496 4.525,435 Unr•¥tricted funds Unaudited Restricte funds Unaudited Total 2023 Unaudited Note Income and Endowments from: Donations and legacies Invéslmenl income Other income 82.989 117.990 42,995 82,989 117.990 42.995 Total income 243,974 243.974 Expenditure on: Charitable activities Other expenditure Total eXndItUre Net gain on investment assets 1304.4411 12.707 1304.4411 12.707 1307.1481 106,867 1307.1481 106,867 13 Net movernent in funds 43,693 43,693 Reconciliation of funds Total funds brought forward 4.328.805 40,496 4,369,301 Page 13
Comboni Missionary Sisters CIO Statement of Financial Actlvities for the Year Ended 31 December 2024 Unrestricted tunds Unaudited Restri¢t•d funds Unaudited Total 2023 Unaudited Nota Total ftJnd$ carrièd fonNard 4,372,498 40.496 4,412.994 All of the charity's activities derive from Continuing operations during the above periods. The fund5 breakd¢)wn for 2023 is shown in note 10. Page 14
Comboni Mlssionary Sisters CIO {Registration number.. 11798231 Balance Sheet as at 31 December 2024 2013 Unauditsd 2024 Note Fixed assets Tangible assets Invèstmen15 1.115,167 2.503.264 1,142,629 2.402.121 12 3.618.431 3.544.750 Cuwrent a588ts Cash al bank and in hand 922,142 115,138 888.478 reditor5-. Amounts falling duo wlthln one year Nvt current assets 20,234 907.004 868.244 Not assèts 4.525.435 4.412.994 Fund5 of the chartty: Rostrlcted fund$ 40.4 40.496 Unrestricted income fund• Desiun2kd funds General lunds 4,081,904 290.594 4.484,939 Total unreslrtled fvnos 4.484,939 4,372.498 Totsl funds 10 4.525.435 4,412,994 The financial s tements on pages 13 to 25 were appro by th8 truslee$, and auihorised for i$su8 on signed on their behalf by.. Sister Angda Trustee olombl Page 15
Comboni Missionary Sisters CIO Notes to the Financial Statements for the Year Ended 31 December 2024 1 Accounting poli¢it$ Statement of ¢ompllane• The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Pra¢ti¢e applicabl8 to charities prepanng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191 (Charities SORP IFRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. Bas1$ Of pr•par4tlan Comboni Missionary Sisters CIO meets the definition of a public benefit entity under FRS 102. Assets and liabi111ies are initially recognised at historical cost or transaction value unless otherwise staled in the relevant aoUntr.ng policy notes. Exemption from preparing a ca$h flow Statèment The charity opted to early adopt Bulletin 1 PLJblished on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Going concern The Iru5tees consider that there are no material uncertainties about the charty's abilty lo continue as a going wn¢ern. Income and endowments Voluntary Income in¢luding donations, gifts, legacie5 and grants that provide core funding or are ol a general nature is recognised when the chanty has entiuement to the income, It is probable that the income will be received and the amount ¢an be measured with sufficient reliability. Donations and lega¢les Donations and legacies are recognised on a receivable basis when receipt 15 probable and the amount can be reliably measured. Investment income Dividends are recognised once the diVend has been declared and nolificalion has been received of the dividend due. Page 16
Comboni Missionary Sisters CIO Notes to the Financial Statements for the Year Ended 31 December 2024 Expèndlture All expendrture 13 Tecognised once there is a legal or construetive obligation to that expènditure, it is probable settlemènt Is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggrègate similar costs to that cale90ry. Where costs cannot be directly attributed lo particular headings they have been allocated on a basis consislenl with the use of resources and depreciation charges allocated on the ports'on of the asset's use. Other support costs are alloealèd based on the spread of staff costs. Charitsble activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its actiwties and services for its beneficiaries. It includes both costs that can be allocated direcily to such activities and those costs of an indirect natuitr nècessary to sUPPOrt them. Support costs Support costs include ¢entral function5 and have been allocated to activity cost categories on a basis consisttrnl with the use of resources, for example, allocth'ng property costs by floor areas. or per capita, staff costs by the timè spent and other costs by their vsage. GoY•rnane• costs These include the costs attributable to the charity's compliance wth constitutional and statutory requirement5. including audit, strategic management and trustèès'$ meetings and reimbursed expenses. T¥tion The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 tsf the Finante Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially èxempl from taxation respect of income or capital gains received within categorie5 covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation ol Chargeable G8nS Act 1992, to the extent that such income or gains are applied exclusively to ¢harilable purposes. Tangible fixed assets Individual fixed a5setS Costing £0.00 or more are initially recorded at cost, less any subsequent accumulated dèpreciation and subsequent accumulated impairment losses. Dopreciation Depreciation is provided on tangible fixed assets so as t(> write off the cost or valuation. less any eslimaled residual value, over their expected useful economic lrfe as follows." Pagè 17
Comboni Missionary Sisters CIO Notes to the Financial Statements for the Year Ended 31 Dec8mber 2024 Asset class Depreciation mèthod and rate Land and buildings are included in th$ a¢¢c)unt$ at cost or al the Tiustee's valuation. The buildings are in constant use In furtherance of the order's charitable activities. and are maintained Ic> a standard that ensures that their residual value is not less than their book value. 25QA of Nel Book Value 25% Straight Line Method ISLMI Land & Buildings Furniture, Fixtures & Equipment Vehicles Fixed asset investmènts Fixed as5el investments. other than programme related invèstments, are included al market value at the balance sheet date. Realised gains and losses on investments arè calculated as the drfferen¢e been sales proceeds and their market value at the start of thè year, tsr their subsequent cost. and are charged OT credited to the statement of financial activits.es in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are ¢dted or charged to the statement ol financial activities based on the market value at the year end. Trade debtors Trade debtofs aTe amounts due Irom customers for mer¢handise sold or services performed in the ordinary ctsurse of business. Trade debtor$ are recognised initially at the transaction price. They are $ubsèquently measured at amortised cost using the effective intèrest method, less provisitsn for impairment. A provision for the impairment of trade debtors is established when thère is objective evidence that the charity will not be able to collect all amounts due according lo the original terms of the Teceivables. Ca$h at bank and In hand Cash at bank and in hand comprise cash on hand and call deposits. Fund strudure Unrestricted income funds are general funds that are available for use at the tru51ees's discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds set aside for specific purposes at the discretion tsf thè trustees. Restricted income funds are those donated for use In a particular area or for specific purposes, the use of which is Testriclèd to that area or purpose. All receipts to the charity in both the current and previous year wer& unrestricted. Page 18
Comboni Missionary Sisters CIO Notes to the Financial Statements for the Year Ended 31 December 2024 2 Incom• from donation$ and 1oga¢ies Unrèstriet•d funds Total 2023 Un•udit¢d Totsl 2024 General Donations and legacies., Donations from individuals Legacies Regular giving and capital donations 33.388 8,408 52,848 33.388 8.408 52,848 22.469 60,520 94,644 94.644 82,989 3 Investment income Unrestricted funds Total 2023 Unaudited Totsl 2024 General Interest receivable and similar income., Interest receivable on bank deposits Other investment incomg Income from rents 49.820 35,638 35,280 49.820 35,638 35.280 83.437 34,553 120,738 120.738 117,990 4 Oth•r Incom• Unrestricted lund$ Total 2023 Unaudit8d Total 2024 G•n•ral Mission Appeals 60.915 60.915 42.995 Page 19
Combonl Missionary Sisters CIO Notes to the Financial Statements for the Year Ended 31 December 2024 5 An•lysis of gov•rnanc8 and support Costs Gov•rnan¢o ¢0$ts Unrestricted funds Total 2023 Unaudited Total 2024 G•nèral Allocated support Costs 13,524 13,524 7,033 13.524 13,524 7,033 6 Trustees romun*r4tion and èxpènses No trustees, nor any persons eonnècted with them. have received any remuneration OT benefits from the charity during the year. Trust•os' expenses There were no trustées, expenses paid for the year ended 31st December 2024. nor for the year ended 31 $1 Dècember 2023. 7 Taxation The charity is a registered charity and is therefore exempl from taxation. Page 20
Comboni Missionary Sisters CIO Notes to the Flnancial Statements for the Year Ended 31 December 2024 8 Tangible fixed assets Furnitur¢ and equipmont Land and buildings Motor vehicl•$ Totsl Cost Al 1 January 2024 Additions 1,500.000 50,069 8,394 4,995 1,555,064 6,394 At 310ecember 2024 1,500.000 56,463 4,995 1,561,458 Depreclatlon Al 1 January 2024 Charge for the year At 31 December 2024 383.000 27,000 45,689 5.607 3,748 1.249 412,435 33.858 390,000 51,298 4,995 446.291 Nat book valu• Al 31 December 2024 1,110,000 S,167 1,115,187 Al 31 December 2023 Iunaudiledl 1,137,000 4,380 1,249 1.142,629 9 Creditors- amount$ falling due within one year 2023 Un•ud4tsd 2024 Other creditors Accruals 6.858 8.280 15.998 4,236 15,138 20,234 Page 21
Comboni Missionary Slsters CIO Notes to the Flnancial Statements for the Year Ended 31 December 2024 10 Funds Balance at 31 Doe•mb•r 2024 Balanc* at 1 January 2024 Oth•r Rosoure•s recognised expended gainslllo8¥0$1 Incoming resour¢•$ Unrestricted funds General General Funds 4,372,498 276,297 1284.9991 121.143 4,484.939 R•$trictèd funds Sisters Dowries & Inheritance 40.496 40,496 Total funds 4,412,994 276,297 1284.9991 121,143 4.525,435 Balance at l January 2023 Other Incoming Resou$ recognisgd •xp•nd•d Transfers gaIn{losses} 2023 {Un4uditedl Unréstricted funds General General Funds 298,400 84.538 162.0171 {30,3271 Designated Designated Fund Total unrestricted fund$ 4,030.405 159,436 (245,1311 30,327 106,867 4.328,805 243,974 {307.1481 106,867 Restricted funds Sister5 Dowrie$ & Inheritan 40,496 Total funds 4,369,301 243.974 1307,148 106,867 Page 22
Comboni Missionary Sisters CIO Notes to the Financial Statements for the Year Ended 31 Decembor 2024 Balance at 31 De¢emb¥r 2023 2023 Iunaudltedl Unrestrictod funds G•neral General Funds 290,594 Designated Designated Fund Total unrestrictsd funds 4,081.904 4,372.498 R¢$trict*d fund$ Sisters Oowries & Inheritance 40,496 Totsl fund$ 4,412.994 The General funds relate to a properties, maintenance and a ¢are fund together with a fvnd for congregational and WOTldwide missions needs. Balance held in Designated Funds in 2023 have been moved to General Funds. Page 23
Combonl Missionary Sisters CIO Notes to the Financial Statements for the Year Ended 31 December 2024 11 Analysis of ngt as$•ts bètwoen funds Unrestricted fund Restrictsd funds General Totsl funds Tangible fixed assets Fixed asset investments Current assets Current liabilities 1.115,167 2,503,264 881.646 15,1381 1,115,167 2,503.264 922.142 115.1381 40,496 Total net assets 4,484,939 40.498 4.525.435 Unrestricted funds Re$triet•d funds G¢n•ral Totsl funds 2023 IUnaudited} Tangible fixed assets Fixed ¥$set investments Current assets Current liabilities 1,142,629 2,402.121 847.982 120,2341 1,142.629 2.402.121 888,478 120,234 4.412.994 40.496 Total nel assets 4.372,498 40,496 12 Investment Llstod Unli5tsd Total Value Note RBS Treasury Lloyds Fixed Rale Oeposf( Epworth Mults Asset Fund Epworth Climate seardshiP Fund 150,000 350,000 150.000 350,000 1.510.509 492,755 1,510,509 492,755 2,003.264 500,000 2,503,264 Page 24
Comboni Missionary Sisters CIO Notes to the Financial Statements for the Year Ended 31 December 2024 Li$tsd Unlistod Total Valu¥ 2023 (Unaudited) RBS Treasury Lloyds Fixed Rate Deposit Epworth Mulli Asset Fund Epworth Climate Stweardship Fund 150,000 370,000 150.000 370,000 1.430.548 451,573 1,430.543 451.573 1,882,121 520,000 2.402,121 13 N•t gain on inv•$tm•nt assets Llstsd Unlisted Total Valuo Note Opening balance Disposal during the year Unre81ised gain on investmènt assets 1,882,121 520.000 120,0001 2,402,121 {20,0001 121.143 121.143 2,003,264 500,000 2.503.264 Llstèd Unlisted Note Total 2023 Iunauditedl Opening balance Additions during the year Disposal for the year Unrealised gain on investment a$$et$ 2,339,702 2,339,702 520.000 1556,5611 98,980 520.000 1556,5611 98,980 1,882,121 520,000 2,402.121 Page 25
Comboni Missionary Sisters CIO Detsiled Statement of Flnancial Activities for the Year Ended 31 December 2024 Totsl 2023 Unaudited Total 2024 In¢omè and Endowm•nts from.. Donations and legacies lanalysed below) Investment income lanaly5ed below) Other incorne lanalysed bo1¢)wl Total in¢omo 82,989 117.990 42,995 120,738 60,915 276,297 243.974 Expenditure on: Charitable activities lanalysed below) Other expenditure lanalysed belowl 1266.8521 18.1471 1304,4411 12,707 Total expenditure Gain$ on investmènt assets lanalysed below) 1284.9991 121,143 {307,1481 108,867 Net income 112,441 43,693 Net movement in funds 112,441 43.693 Reconciliation of funds Total funds brought forward 4.412.994 4,369,301 Total funds carried forward 4.525.435 2024 R•strletad funds 4,412,994 2024 Total Income #nd Endowm•nts from.. Donali(yns and legacies lanalysed below) Investment income lanalysed below) Other income lanalysed belowl 94,644 120,738 60.915 Totsl income 276.297 Exp•nditurè on= Charitable activities lanalysed below) Other expenditure lanalysed belowl 1268,8521 118,1471 Total expenditure 1284.9991 Nel expenditurè 18,7021 Nèt movement in funds 18.7021 Page 26
Combonl Missionary Sisters CIO Detailed Statement of Financial A¢tlvities for the Year Ended 31 Dec8mber 2024 2024 Restricted fund5 2024 Total Reconciliation of funds Total funds brought forward Total funds carried forward 40.496 4,412,994 40.496 4.404.292 Page 27
Comboni Missionary Sisters CIO Detailed Statement of Financial Actlvltles for the Year Ended 31 De¢ember 2024 Total 2023 Unaudit•d Total 2024 Donations and lega¢ie$ Committed giving Legacies and bequests Appeals and donations Attendance Allowance Pensions 935 8,408 33,388 5.675 4fj.238 5,896 22.469 7,669 46.955 94,644 82,989 Investment income Income from investment properties Interest on ¢ash deposits Dividend Incomè from investments 35.280 49,820 35,638 34,553 83,437 120,738 117.990 Other Ineome Mission appèa15 60.915 42,995 60,915 42,995 Charitable a¢tivities Wages and salaries Travelling Rates Light, heal and power Insurance Repairs and maintenance Repairs and renewals Medical & Health Telephone and fax F¢od Maintenance Extraordinary Printing. postage and Slalionèry Trade subscripts'ons Charbtable donabons Sundry expenses Sisters Personal Expenses Motor expenses Holiday Exp&nses 120,2401 118,9131 15.6771 122,0591 112,6341 18.4371 13091 11,5541 110,2301 118,4511 {76,3661 11,1241 13.3571 114,1281 112,7131 18.9661 {6,6291 13.0831 117,0021 18.0531 16,4621 122,279} 19,8861 128,0201 15781 {1,7971 {14,2491 119,2461 1105,1021 11,8751 19351 122.5971 115,8311 19,3991 13,4921 12.8481 Page 28
Comboni Missionary Sisters CIO Detailed Statement of Financial Activities for the Year Ended 31 December 2024 Total 2023 Unaudit•d Total 2024 General Living Expense$ Bank charges Accountancy fees Audit Fees Legal and professional fees {952} 14201 {7,0861 14,8001 8,7241 {2,9741 15471 14,2361 17,0331 1266,852 {304.4411 Other expendiluyè Other Expenditure Depreciatorn of freehold property Depreciation ol fixtures and fitting5 Depreciation of motor vehicles 15,709 127.0001 {5,6071 11,249 118.1471 11.1141 1.593 2,707 Netgains on investmènt assets Unrealised gain on Investment Asset Realised gain on Investment Assèt 121,143 98,980 7.887 121,143 106.867 Page 29