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2023-12-31-accounts

Religious of the Holy Family of Bordeaux CIO

Unaudited Report and Accounts

31 December 2023

Charity Registration Number 1187768

Contents

Reports

Reports
Reference and administrative details of
the charity, its trustees and advisers 1
Trustees’ report 2
Independent examiner’s report 9
Accounts
Statement of financial activities 10
Balance sheet 11
Statement of cash flows 12
Principal accounting policies 13
Notes to the accounts 16

Religious of the Holy Family of Bordeaux CIO

Reference and administrative details

Trustees Sister Ana Maria Alcalde de Arriba
Sister Geni dos Santos Camargo
Sister Moretlo Veronica Rapitso
Sister Georgine Gafutshi Mufogoto
Sister Ludvin Christa Mariathas
Sister Ichchampulle Arachchilage Jesmin Fernando
Correspondence address 2 Aberdare Gardens
London
NW6 3PX
Charity registration number 1187768
Independent Examiner Amanda Francis
Buzzacott LLP
130 Wood Street
London
EC2V 6DL
Bankers The Royal Bank of Scotland plc
London Service Centre
PO Box 21007
London
NW1 8WL
Solicitors Stone King LLP
Upper Borough Court
Upper Borough Walls
Bath
BA1 1RG

Religious of the Holy Family of Bordeaux CIO 1

Trustees’ report Year to 31 December 2023

The trustees present their report together with the accounts of the Religious of the Holy Family of Bordeaux CIO (the “charity” or the “CIO”) for the year to 31 December 2023.

The accounts have been prepared in accordance with the accounting policies set out on pages 13 to 14 and comply with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The principles set out in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) have been followed in the preparation of this report and accounts.

Introduction

The Sisters of The Holy Family of Bordeaux (the Institute) is a Roman Catholic Religious Institute founded in France in 1820 with its Generalate in Rome. The Institute is governed by its own constitution.

The accounts accompanying this report are the accounts of the Religious of the Holy Family of Bordeaux CIO, a charity registered on 5 February 2020, Charity Registration No. 1187768.

The charity is governed by a Constitution agreed by the applicants on 28 January 2020 and registered with the Charity Commission on 5 February 2020.

Objective

The object of the CIO is the advancement of the Roman Catholic religion through the religious and other charitable work of the Institute as the trustees with the approval of the Superior General shall from time to time think fit.

Public benefit

When setting the aims of the charity, the trustees have complied with their duty under section 17 of the Charities Act 2011 to have regard to the Charity Commission’s guidance on public benefit.

Activities performance and future plans

The work of the General Leadership Team (GLT) of the Institute consisted of three parts during the year 2023.

Visiting Provinces and delegations by team members

Each member of the General Leadership Team is allocated a number of the Institute’s Provinces that she will work directly with. The aim was for the relevant member to visit each of the Provinces to assess the needs of each Province. This was initiated at the end of the year 2022 and continued during the first quarter of 2023. During this time, all the places where there is a Holy Family presence, were visited, animated and evaluated. Reports of these were shared and discussed during the General Council meetings.

Religious of the Holy Family of Bordeaux CIO 2

Trustees’ report Year to 31 December 2023

Activities performance and future plans (continued)

Continental meetings

The second quarter of the year was allocated to preparing for the Continental meetings scheduled with all the Provincial and Delegation Leadership Teams. Meetings were held in three different locations and involved all the continents. Discussions in these meetings were based on the decisions taken during the General Chapter held in 2021 and plans were discussed for their implementation.

The third quarter of the year started with the meeting of all the leaders of five vocations (see below) comprising a “Council of the Family” and took place in a big Spiritual Family (called Association) of Pierre Bienvenue Noailles, our Founder.

There are five vocations, namely: Lay Associates, Priest Associates, Secular Institute, Contemplative Sisters and Apostolic Sisters. We are Apostolic Sisters. So, when we talk of the Council of the Family, that is where the Leadership Teams of all these vocations come together. Normally, this is held once every four years. During this time, our journey as an Association was evaluated and certain steps taken reflecting the present reality and needs for the ongoing journey.

The following is a report received from the Holy Family Sisters of Bordeaux Generalate, Rome:

We, the Holy Family Sisters of Bordeaux, thank the CIO for granting funds for the session on international interculturality, which was held in Rome from November 10th to 20th, 2023. The session was conducted by the International Interculturality Team. The representative sisters from each province and vicariate attended this session. One of the calls on General Chapter 2021 was ‘living the interculturality’. Based on the chapter call, this session was organized and motivated the participants to understand the importance of intercultural living for mission in the world. It also highlighted the intercultural living challenges and demands of the person who leaves their own culture in order to adapt the new culture for the mission.

The topics of the session were as follows:

Religious of the Holy Family of Bordeaux CIO 3

Trustees’ report Year to 31 December 2023

Activities performance and future plans (continued)

Continental meetings (continued)

We extend our sincere thanks to the CIO, who enormously helped us through funding to meet the expenses of the translators in Spanish, English and French and other gadgets. We hope this session enables the participants to work more concretely for their mission, wherever they are.

Evaluating and planning for the future

The rest of the year was allocated to holding meetings, both online and in person. Time was spent in evaluating the decisions made during the year and in planning for year 2024. This included the preparing of a budget and the initiation of the ten year plan.

Other than the above three areas which were the main focus, the GLT has dealt with daily management issues such as projects in different countries, discernment of admitting members to the Institute, finances etc.

The trustees are in the process of discussing the plans for the charity, and the support needed by the Provinces. To date they have held several meetings at which details such as opening of bank accounts and the transfer of funds held by the UK Province on behalf of the Generalate of the Holy Family of Bordeaux to the charity and its future operational strategy have been discussed.

In October 2023 the trustees decided that Rwanda will be supported for the Formation of sisters – Language Learning Programme in Kigali. This programme is for two years. The total cost is £20,500, but the trustees decided that they will transfer only £10,500 in December, the remaining balance will be transferred during 2024 after the Province of Rwanda has issued a satisfactory report of the activities undertaken and the utilisation of the funds.

Religious of the Holy Family of Bordeaux CIO 4

Trustees’ report Year to 31 December 2023

Financial review

Summary of results for the year

A summary of the year’s results can be found on page 10 the accounts.

Total income for the year amounted to £402,446 (2022: £nil). Included within income are donations and contributions of £400,000 (2022: £nil) received from The Sisters of the Holy Family of Bordeaux Charitable Trust (the UK Province) from the funds held by them on behalf of the Generalate the Holy Family of Bordeaux. These funds are to be used to finance the activities of the CIO generally, and to support and finance the activities of the overseas missions of the Institute and the broader work of the Institute. Interest receivable was £2,446 (2022: £nil).

Expenditure during the reporting period totalled £35,400 (2022: £nil). Expenditure includes grants, donations and support of missionary work of £21,000 (2022: £nil) and support of the General Leadership Team and international meetings/administration of £14,400 (2022: £nil). This figure includes support costs of £4,200 (2022: £nil).

Further details of the grants are included within note 3 to the accounts.

Net income for the year amounted to £367,046 (2022: £nil).

Reserves policy

The CIO is in the early years of its formation, with its activities being funded by a donation from the Generalate of the Holy Family of Bordeaux. The trustees will develop a meaningful reserves policy in the next few years.

Financial position

The balance sheet shows total funds of £367,046 as at 31 December 2023 (2022: £nil). These funds are available to support any of the work of the charity in the future (i.e. free reserves). Given the charity’s infancy, and the commitment to support the Institute for the long term, this level of reserves is deemed appropriate. The trustees are content that the charity is a going concern.

Governance, structure and management

Governance

The trustees manage the affairs of the CIO and may for that purpose, subject to the prior consent of the Superior General, exercise all the powers of the CIO.

Structure and management reporting

The trustees are ultimately responsible for the policies, activities and assets of the charity. They meet regularly to review developments with regard to the charity or its activities and make any important decisions. When necessary, the trustees seek advice and support from the charity’s professional advisers including investment managers, solicitors and accountants.

Religious of the Holy Family of Bordeaux CIO 5

Trustees’ report Year to 31 December 2023

Governance, structure and management (continued)

Trustees

The charity’s constitution requires that there must be at least four trustees and at all times the majority of the trustees must be members of the Institute. If the number falls below this minimum, or does not meet these criteria, the remaining trustee or trustees may act only to call a meeting of the trustees to request the Superior General to appoint a new trustee. The maximum number of trustees is nine.

The Superior General and the members of the General Leadership Team are each automatically, ex-officio, trustees for as long as they hold that office.

Apart from the first trustees and any ex-officio trustees, every appointed trustee must be appointed by a resolution in writing by the Superior General. An individual who is a member of the Institute but not a member of the General Leadership Team is appointed for such period of office as the Superior General shall determine. In all other cases, trustees are appointed for a term of three years or such other term as the Superior General shall decide.

The names of the trustees who served during the year, and the appointments and resignations since the end of the year, are set out as part of the reference and administration details on page 1 of this report and accounts.

All trustees are members of the General Leadership Team.

Trustees’ responsibilities statement

The trustees are responsible for preparing the trustees’ report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial period which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these accounts, the trustees are required to:

Religious of the Holy Family of Bordeaux CIO 6

Trustees’ report Year to 31 December 2023

Governance, structure and management (continued)

Trustees’ responsibilities statement (continued)

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, applicable Charity (Accounts and Reports) Regulations and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Key management personnel

The trustees consider that they comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis.

The trustees receive no remuneration in respect of their duties.

Member and liability of the member

The Superior General, by virtue of holding that office, is ex-officio the sole member of the CIO for as long as she holds that office.

If the CIO is wound up, the member of the CIO has no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

Risk management

The trustees recognise their responsibility for the management of risks faced by the charity, the Institute and the Provinces. The trustees are aware that they have an obligation to develop a formal risk management policy and are in the process of reviewing the risks that the charity faces with a view of establishing a risk management policy.

The areas identified for particular attention within our risk management strategy include:

The trustees always ensure that they are fully briefed about and are familiar with the work of a potential recipient of funds and that they carry out appropriate due diligence before deciding to transfer monies, and that proof of receipt is obtained.

Religious of the Holy Family of Bordeaux CIO 7

Trustees’ report Year to 31 December 2023

Governance, structure and management (continued)

Trustees’ responsibilities statement (continued)

Wherever possible (and always in the case of monies sent overseas), a full written report on the use of the funds is received.

The trustees plan to review the risk register annually.

Approved by the trustees and signed on their behalf by:

Sister Moretlo Veronica Rapitso

Trustee

Approved on: 28th March 2024

Religious of the Holy Family of Bordeaux CIO 8

Independent examiner’s report Year to 31 December 2023

Independent examiner’s report to the trustees of Religious of the Holy Family of Bordeaux CIO

I report to the charity trustees on my examination of the accounts of Religious of the Holy Family of Bordeaux CIO (the charity) for the period from 1 January 2023 to 31 December 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

I have satisfied myself that the accounts of the charity are not required to be audited and are eligible for independent examination.

Independent examiners statement

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

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

Buzzacott LLP

28 March 2024

Independent Examiner 130 Wood Street London EC2V 6DL

Religious of the Holy Family of Bordeaux CIO 9

Statement of financial activities Year to 31 December 2023

Notes 2023
£		 2022
£
Income from:
Donations receivable from
. The Sisters of the Holy Family of Bordeaux Charitable Trust
1
Bank interest
2
Total income
Expenditure on:
Charitable activities
. Grants, donations and support of missionary work
3
. Support of the General Leadership Team and international meetings/
administration
4
Total expenditure
Net income and net movement in funds
Reconciliation of funds:
Total funds brought forward at 1 January 2023
Total funds carried forward at 31 December 2023		 400,000
2,446		 —
—
402,446 —
21,000
14,400		 —
—
35,400 —
367,046
—		 —
—
367,046 —

All recognised gains and losses for the above two periods are included in the statement of financial activities.

The charity remained dormant throughout the period from registration to 31 December 2022. All activities of the charity during 2023 are derived from continuing operations.

Religious of the Holy Family of Bordeaux CIO 10

Balance sheet 31 December 2023

Notes 2023
£		 2022
£
Current assets
Debtors
7
Short term deposits
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within one year
8
Net current assets/total net assets
The funds of the charity:
Funds and reserves
Unrestricted funds
. General funds
Total funds
9		 2,446
350,000
29,300		 —
—
—
381,746
(14,700)		 —
—
367,046 —
367,046 —
367,046 —

Approved by the trustees and signed on their behalf by:

Sister Moretlo Veronica Rapitso

Trustee

Approved on: 28th March 2024

Religious of the Holy Family of Bordeaux CIO 11

Statement of cash flows Year to 31 December 2023

Notes
2023
£

379,300
(350,000)
29,300

—

29,300		 2022
£
Cash flows from operating activities
Net cash provided by operating activities
A
Cash flows from investing activities
Transfer of funds to short term deposits
Change in cash and cash equivalents in the period
Cash and cash equivalents at 31 December 2022
B
Cash and cash equivalents at 31 December 2023
B		 —
—
—
—
—

Notes to the statement of cash flows for the year to 31 December 2023

A Reconciliation of net movement in funds to net cash provided by operating activities

2023
£		 2022
£
—
—
—
—
Net movement in funds (as per the statement of financial
activities)
Adjustments:
Increase in debtors
Increase in creditors
Net cashprovided by operating activities		 367,046
(2,446)
14,700
379,300

B Analysis of cash and cash equivalents/net debt

Analysis of cash and cash equivalents/net debt
31
December
2022
£
Cash flows
£
31
December
2023
£

29,300
Total cash and cash equivalents:Cash at bank and in
hand		 —
29,300

No separate statement of changes in net debt has been prepared as there is no difference between the movements in cash and cash equivalents and movement in net cash (debt).

Religious of the Holy Family of Bordeaux CIO 12

Principal accounting policies Period to 31 December 2023

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below:

Basis of preparation

These accounts have been prepared for the year to 31 December 2023 with comparative information provided for the year to 31 December 2022.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

Critical accounting estimates and areas of judgement

Other than the assessment of going concern, the preparation of the accounts did not require the trustees to make any significant judgements or estimates.

Assessment of going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of at least one year from the date of approval of these accounts.

The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern.

With regard to the next accounting period, the year ending 31 December 2024, there are no significant areas that affect the carrying value of the assets held by the charity and the trustees are therefore content that the charity is, and will remain, a going concern.

The trustees will continue to keep both income and expenditure under review.

Income recognition

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.

Religious of the Holy Family of Bordeaux CIO 13

Principal accounting policies Period to 31 December 2023

Income recognition (continued)

Donations are recognised when the charity has confirmation of both the amount and date of receipt. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Bank interest is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis and is stated inclusive of irrecoverable VAT.

Expenditure on charitable activities includes all costs associated with furthering the charitable purposes of the charity. Such costs include grants made in accordance with the charity’s objects and costs incurred in support of the General Leadership Team and international meetings/administration.

Grants payable are included in the statement of financial activities when approved and when the intended recipient has either received funds or been informed of the decision to make the grant and has satisfied all performance conditions. Grants approved but not paid at the end of the financial period are accrued. Grants where the beneficiary has not been informed or has to fulfil performance conditions before the grant is released are not accrued but are disclosed as financial commitments in the notes to the accounts.

Support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide administrative and general support.

Governance costs comprise the costs involving the public accountability of the charity (including audit costs) and costs in respect to its compliance with regulation and good practice.

Costs that are not directly identifiable in respect to each charitable activity are apportioned using percentages based on the expenditure incurred directly on the charitable activities of the charity.

In the year to 31 December 2023. All costs were in relation to the support of the General Leadership Team.

Religious of the Holy Family of Bordeaux CIO 14

Principal accounting policies Period to 31 December 2023

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits which mature in more than three months but less than one year at the date of acquisition have been disclosed as short term deposits.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. They have been discounted to the present value of the future cash receipt where such discounting is material.

Creditors

Creditors are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Funds structure

The funds of the charity include unrestricted funds available for use in furtherance of the charity’s objectives at the discretion of the trustees.

Religious of the Holy Family of Bordeaux CIO 15

Notes to the accounts Year to 31 December 2023

1 Income from: Donations receivable

Income from: Donations receivable
Total
funds
2023
£		 Total
funds
2022
£
Donations from The Sisters of the Holy Family of Bordeaux Charitable
Trust(note 10)		 400,000 —

2 Income from: Investments and interest receivable

Income from: Investments and interest receivable
Total
funds
2023
£		 Total
funds
2022
£
Bank interest 2,446 —

3 Expenditure on: Grants, donations and support of missionary work

4
5		 Total
funds
2023
£		 Total
funds
2022
£
Province of Rwanda - Formation of Sisters Learning Language
Programme		 21,000 —
Expenditure on: Support of the General Leadership Team and international
meetings/administration
Total
funds
2023
£
Total
funds
2022
£
Support of the International Interculturality Team in Rome
10,200
—
Support and governance costs (note 5)
4,200
—
14,400
—
Support of the International Interculturality Team in Rome
Support and governance costs (note 5)		 10,200
4,200		 —
—
14,400 —
Support and governance costs
Total
funds
2023
£		 Total
funds
2022
£
Professional fees
Governance costs		 2,400
1,800		 —
—
4,200 —
Support and governance costs
Total Total
funds funds
2023 2022
£ £
Professional fees 2,400 —
Governance costs 1,800 —
4,200 —

Religious of the Holy Family of Bordeaux CIO 16

Notes to the accounts Year to 31 December 2023

6 Net income and net movement in funds

This is stated after charging:

Staff costs
Independent examiner’s (Buzzacott LLP’s) remuneration
(excluding VAT)
. Independent examination services – current year
. Accounts preparation – current year
. Accountspreparation –previousyear		 2023
£
—

1,800
1,800
600		 2022
£
—
—
—
—

7 Staff costs and remuneration of trustees and key management personnel

During the year to 31 December 2023 and year to 31 December 2022 the charity employed no staff and therefore incurred no staff costs.

No employee earned £60,000 per annum or more (including taxable benefits) during the year (2022 – none).

The trustees consider that they comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day to day basis.

The trustees received no remuneration or reimbursement of expenses in connection with their duties.

8 Debtors

Debtors
2023
£		 2022
£
Interest receivable 2,446 —

9 Creditors

Creditors
2023
£		 2022
£
Expenses of the International Interculturality Team payable
Donations payable
Accruals		 10,200
21,000
4,200		 —
—
35,400 —

Religious of the Holy Family of Bordeaux CIO 17

Notes to the accounts Year to 31 December 2023

10 Related party transactions

The trustees of the charity are also members of the General Council of the Generalate the Holy Family of Bordeaux.

A donation of £400,000 was received from the The Sisters of the Holy Family of Bordeaux Charitable Trust, Charity Registration Number 232633 (England and Wales) and Charity Registration Number 20016579 (Ireland) (the UK Province). The donation was funded from the Generalate fund, which represents monies given to that charity in the past by the Generalate of the Holy Family of Bordeaux to be used to finance the overseas missions of the Institute and the broader work of the Institute overseas.

There were no other related party transactions during the year or the previous year requiring disclosure (2022 – none).

11 Ultimate control

The charity, which is constituted as a charitable incorporated organisation, was controlled throughout the period by The Sisters of The Holy Family of Bordeaux by virtue of the fact that the Superior General, by virtue of her office being ex-officio, is the sole member of the CIO.

12 Liability of member

If the charity is wound up, the member of the charity has no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

13 Taxation

The Religious of the Holy Family of Bordeaux CIO is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

Religious of the Holy Family of Bordeaux CIO 18