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2024-12-31-accounts

Religious of the Holy Family of Bordeaux CIO

Report and Accounts

31 December 2024

Charity Registration Number 1187768

Contents

Reports

Reference and administrative information 1
Trustees’ report 2
Independent examiner’s report 16
Accounts
Statement of financial activities 17
Balance sheet 18
Statement of cash flows 19
Principal accounting policies 20
Notes to the accounts 23

Religious of the Holy Family of Bordeaux CIO

Reference and administrative information

Trustees Sister Ana Maria Alcalde de Arriba
Sister Geni dos Santos Camargo
Sister Moretlo Veronica Rapitso
Sister Georgine Gafutshi Mufogoto
Sister Ludvin Christa Mariathas (resigned 1 May 2025)
Sister Ichchampulle Arachchilage Jesmin Fernando
Registered office 2 Aberdare Gardens
London
NW6 3PX
Charity registration number 1187768
Independent examiner Amanda Francis
The Paddocks, Church Road
Hargrave
Northamptonshire
NN9 6BQ
Principal bankers Royal Bank of Scotland plc
London Service Centre
PO Box 21007
London
Solicitors Stone King LLP
Upper Borough Court
Upper Borough Walls
Bath
BA1 1RG

Religious of the Holy Family of Bordeaux CIO 1

Trustees' report 31 December 2024

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 2024.

The accounts have been prepared in accordance with the accounting policies set out on pages 20 to 22 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 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

Apart from planning the activities for the year and working on some of the projects funded by the PBN Foundation, the trustees were engaged in the following activities during the year 2024:

Religious of the Holy Family of Bordeaux CIO 2

Trustees' report 31 December 2024

Activities performance and future plans (continued)

The work of the CIO and the General Leadership Team (GLT) of the Institute consisted of three parts during the year 2024:

1 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 2023 and continued during the first quarter of 2024. 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 3

Trustees' report 31 December 2024

Activities performance and future plans (continued)

2 Support of the work of Provinces

Report from India

We the Unit of India sincerely acknowledge and thank the General Leadership Team for the generous financial support for the life and mission of our sisters in India. We thank God for His

providential care and guidance in our commitment. We are 64 sisters in twelve communities and in three states. We pool from the General Administration to maintain the communities.

Vision : Towards a new Society in Love

Mission : Rooted in God We become agents of Communion, affirm the Human dignity, and safeguard the environment.

Objectives : 1. To build up Communion by living our spirituality of God Alone

  1. To respond to the signs of the times and our mother Earth.

Our Holy Family presence in India is well appreciated and renders our selfless service for the

welfare of the people in our context. We engage ourselves in reaching out to the people by rendering our service in education like teaching in the school, day care crèche, coaching for the special children etc., healing ministry, social work, working for the empowerment of women, migrants, pastoral and catechetical work.

Health has become a great concern and we spent time treating our sisters for different sicknesses and regular checkups. Expenditure was incurred on travelling for different meetings, sessions and air tickets for meetings overseas to strengthen the life and charism of our PBN Family.

In initial formation, we have the five young women and seven temporary professed sisters whose expenses are on travelling for different meetings,

sessions and renewal courses. The ongoing formation is a lifelong process where we respond to the mission by giving our sisters renewal courses in different fields like psycho, spiritual integration and academic studies for teaching and nursing for ministry purpose.

We collaborate and work together for the spreading of our charism Communion with the five vocations of our PBN Family.

Religious of the Holy Family of Bordeaux CIO 4

Trustees' report 31 December 2024

Activities performance and future plans (continued)

2 Support of the work of Provinces (continued)

Report from India (continued)

We as a unit come forward to assist our sisters’ families in times of serious issues like sudden death and to meet the urgent medical needs of their own parents or brothers/sisters. We were open to support all the families. We also share with the needy and poor who approach us for financial assistance for education of poor students, and medical help for sick. We maintain all our houses, do the necessary repairs, and paint them at regular intervals of years. This year we have repaired four of our houses and did some of the necessary changes.

As we evaluate the life and mission of our unit from a financial aspect, we see that there is an understanding of needs and wants of individuals and communities. Overall, when we see the situation in India we feel that there is an urgent need to look at our financial sustainability. We are grateful to the General Leadership Team for their ongoing spiritual life, guidance and financial support to move forward focusing on the vision and mission of our Institute as a whole, and our Unit of India.

- – Report from Colombo Construction of Holy Family Hostel Colpetty

The Holy Family Hostel in Colpetty, established in the 1960s, was created to meet the growing demand for accommodation for young women from rural areas who moved to Colombo for higher education at universities and other institutions. Currently, the hostel provides housing for 60 university students.

Religious of the Holy Family of Bordeaux CIO 5

Trustees' report 31 December 2024

Activities performance and future plans (continued)

2 Support of the work of Provinces (continued)

- – Report from Colombo Construction of Holy Family Hostel Colpetty (continued)

With the expansion of Colombo city and the growth of commercial and business sectors, accommodation costs have risen significantly. As a result, many students from disadvantaged rural backgrounds are struggling to find affordable housing. We receive numerous requests for hostel accommodation daily, but unfortunately, we are unable to meet these needs due to a lack of available space. Therefore, extending our existing facilities has become an urgent necessity.

As the leadership team, we recognize the importance of this initiative and believe there is a pressing need to build a four-story building to accommodate an additional 30 students on the same premises. In November 2024, we received a funding amount of €200,000 for this purpose.

However, due to changes in government, the process of securing approval for the construction has been delayed. Although we began the application process earlier, we are still awaiting the necessary government documents and approvals to proceed. We are hopeful that approval will be granted, and construction will begin soon. Attached are photos of the proposed building and the building plans for your reference.

Since the year end the donation given to Colombo has been forwarded to the Jaffna Province, as the Province of Canada has decided to support Colombo’s project in the future.

Report from Philippines

We the Philippines Delegation, is very much grateful for the pooling received from the CIO amounting to €47,800. We count it as a great blessing to live our Mission and to experience the interdependence of our Family.

This pooling was helpful to shoulder the administrative expenses and the expenses of the daily living expenses of our Members of the Delegation.

The administration expenses mainly cover the on-going formation, overseas sessions, professional training, animation by ULT/GLT, visa extension, home holidays, transportation, sharing during the natural calamities and other expenses like travel, office, maintenance of the vehicle and for the celebration (Jubilee year of 40 years of our presence in the Philippines). The living expenses of sisters cover the ministry, food, personal expenses, health, common formation, up-keeping of the land and building, maintenance, insurance and sharing with the needy and poor.

Religious of the Holy Family of Bordeaux CIO 6

Trustees' report 31 December 2024

Activities performance and future plans (continued)

2 Support of the work of Provinces (continued)

Report from Philippines (continued)

During the year 2024, a few members attended the sessions that were held in Rome and Martillac as on-going formation. During this year the Philippines faced several natural calamities and our financial contribution to the affected people was a moment of solidarity with them.

Here are some of the pictures:

Report on the construction of the Provincial House in Kinshasa Kipase, Democratic Republic of Congo

The Province of DR Congo Burkina Faso is grateful to the General Council and the CIO for their consideration in agreeing to finance the construction of the provincial house in Kinshasa on 16 Kipase Avenue in the commune of Lemba in the city of Kinshasa.

Religious of the Holy Family of Bordeaux CIO 7

Trustees' report 31 December 2024

Activities performance and future plans (continued)

2 Support of the work of Provinces (continued)

Report on the construction of the Provincial House in Kinshasa Kipase, Democratic Republic of Congo (continued)

Since 20 November 2024, we have received the first tranche of €200,000 in our bank account for the construction work.

Foundation work began on 3 December 2024 and is progressing well.

We offer you some photos to show you the progress of the work.

Sister Arlette MBALANDA, Provincial, accompanied by some sisters and the team of engineers, are on site to decide on the establishment of the provincial community and the laying of the first stone with the blessing of the priest, as is customary in our culture.

Religious of the Holy Family of Bordeaux CIO 8

Trustees' report 31 December 2024

Activities performance and future plans (continued)

2 Support of the work of Provinces (continued)

Report on the construction of the Provincial House in Kinshasa Kipase, Democratic Republic of Congo (continued)

After the foundation stone was laid, the team of engineers and masons began work on the foundation.

We purchased the materials: sand, callas, rubble, as well as the cement and iron bars that were used to complete the foundation work.

Religious of the Holy Family of Bordeaux CIO 9

Trustees' report 31 December 2024

Activities performance and future plans (continued)

3 Support of the International meetings

Report from the Enlarged General Council (EGC)

We, the Holy Family Sisters of Bordeaux, thank the CIO for granting funds for the Enlarged General Council, which consists of the General Council and the Leaders of the Units in the Institute across the world, and which was held in Rome from 1 to 12 October 2024. The theme chosen for this EGC was “Towards the Other Shore”. The General Leadership Team and all the Unit Leaders actively participated in this meeting. The objectives for the EGC were: Evaluate the progress made so far after the General Chapter 2021, form ourselves in the journey towards transformation and plan together for the years ahead.

Ana Maria Alcalde SUPERIOR GENERAL welcomed Sister Marian Murcia, (Unit Bursar of Spain), the Facilitator of the EGC.

The topics of the meeting are as follows:

Day 1:

Opening address and opening session to begin the meeting.

Day 2,3,4:

Evaluation from the Chapter, 2021. The General Leadership Team shared the bold steps that they have taken so far, after the General Chapter 2021.

Each team shared their evaluation in the following process:

Day 5,6:

Sister Nadia Coppa (Congregation of Adorers of the Blood of Christ), the Former President of the International Union of Superiors General, lead the meeting on the theme “Charismatic Leadership: Forming Leaders for today's Transformation”.

Religious of the Holy Family of Bordeaux CIO 10

Trustees' report 31 December 2024

Activities performance and future plans (continued)

Support of the International meetings (continued)

Report from the Enlarged General Council (EGC) (continued)

Day 7:

The day was focused on “Finance”, Veronica Rapitso, the General Bursar, shared information on the present situation about finance and Amanda Francis, shared on the CIO and property registers at the Unit level, Continental level, and as a whole.

Day 8:

This day focused on “Whole Family of PBN”.

Day 9,10:

These days were focused on the 3[rd] Objective:

Plan put together for the 10 years ahead

The participants spent time to work personally and in small groups, on the future plans of the Apostolic Group regarding the following aspects:

Day 11:

Final Draft; Each team brought their final draft of the future plan and submitted it to the plenary. With much discussion and many clarifications, the final draft of the plan was approved in the plenary session.

Day 12:

Final Day, the facilitator asked the participants to take some time to evaluate the meeting. The participants gathered in the meeting hall for the final prayer to thank God for all the blessings that they received throughout EGC.

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

Religious of the Holy Family of Bordeaux CIO 11

Trustees' report 31 December 2024

Activities performance and future plans (continued)

Future plans

The CIO plans to continue to support the provinces worldwide is the advancement of the Roman Catholic religion through the religious and other charitable work of the Institute.

In order to fund the activities, it has been provided funds by the financially independent provinces, which are being invested to generate income to support the CIO’s activities.

Financial review

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 £527,868 (2023: £402,446). Included within income are donations and contributions of £519,248 (2023: £400,000) received from the provinces and the Generalate of the Sisters of the Holy Family of Bordeaux Charitable Trust. 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 £8,620 (2023: £2,446).

Expenditure during the reporting period totalled £763,098 (2023: £35,400). Expenditure includes grants, donations and support of missionary work of £744,403 (2023: £21,000) and support of the General Leadership Team and international meetings/administration of £18,695 (2023: £14,400). This figure includes support costs of £18,695 (2023: £4,200).

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

Net expenditure for the year amounted to £235,230 (2023: net income - £367,046).

Reserves policy and financial position

The CIO is in the early years of its formation, with its activities being funded by donations from the Generalate and the provinces of the Holy Family of Bordeaux.

Since the year end the CIO has been in receipt of further substantial funds and the trustees are in the process of developing a meaningful reserves policy.

Financial position

The balance sheet shows total funds of £131,816 as at 31 December 2024 (2023: £367,046). 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.

Religious of the Holy Family of Bordeaux CIO 12

Trustees' report 31 December 2024

Governance, structure and management

Constitution

The charity is governed by a Constitution registered with the Charity Commission on 5 February 2020.

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.

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.

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.

Religious of the Holy Family of Bordeaux CIO 13

Trustees' report 31 December 2024

Governance, structure and management (continued)

Statement of trustees’ responsibilities

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:

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.

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.

Structure and management reporting

The trustees are ultimately responsible for the policies, activities and assets of the charitable company. As the charitable company is fairly small in size, for much of the year the trustees were responsible also for much of the day-to-day work of the charitable company. They meet when necessary to review the charitable company’s activities, possible developments, make important decisions and to seek advice and support from the charitable company’s professional advisers including solicitors and accountants.

Religious of the Holy Family of Bordeaux CIO 14

Trustees' report 31 December 2024

Governance, structure and management (continued)

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.

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.

The trustees have assessed the major risks to which the charitable company is exposed. The trustees believe that by monitoring reserve levels, by ensuring controls exist over key financial systems, and by examining the operational risks faced by the charity, they have established effective systems to mitigate those risks.

The trustees continue to monitor results against budgets and expectations and their reserves policy (see above) reflects the potential risk.

Approved by the trustees and signed on their behalf by:

M V Rapitso

Sister Moretlo Veronica Rapitso

Trustee

Approved on: 20 October 2025

Religious of the Holy Family of Bordeaux CIO 15

Independent examiner’s report Year to 31 December 2024

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 year to 31 December 2024.

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.

Amanda Francis

Amanda Francis, Independent Examiner 20 October 2025 The Paddocks, Church Road

Hargrave Northamptonshire NN9 6BQ

Religious of the Holy Family of Bordeaux CIO 16

Statement of financial activities Year to 31 December 2024

Notes Unrestricted funds Unrestricted funds
2024
£		 2023
£
Income from:
Charitable activities
. Donations receivable
1
Interest receivable
Total income
Expenditure on:
Charitable activities
. Grants, donations and support of missionary work
2
. Support of the General Leadership Team and international
meetings/administration
3
Total expenditure
Net (expenditure) income and net movement in funds
4
Reconciliation of funds:
Fund balances brought forward at 1 January 2024
Fund balances carried forward at 31 December 2024		 519,248
8,620		 400,000
2,446
527,868 402,446
744,403
18,695		 21,000
14,400
763,098 35,400
(235,230)
367,046		 367,046
—
131,816 367,046

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

All of the charity’s activities derived from continuing operations during the above two financial periods.

Religious of the Holy Family of Bordeaux CIO 17

Balance sheet 31 December 2024

Notes 2024
£		 2023
£
Current assets
Debtors
7
Short term bank deposits
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within one year
8
Total net assets
The funds of the charity:
Unrestricted funds
. General funds		 494
130,000
5,922		 2,446
350,000
29,300
136,416
(4,600)		 381,746
(14,700)
131,816 367,046
131,816 367,046
131,816 367,046

Approved by the trustees and signed on their behalf by:

Sister Moretlo Veronica Rapitso

M V Rapitso

Trustee

Approved on: 20 October 2025

Religious of the Holy Family of Bordeaux CIO 18

Statement of cash flows Year to 31 December 2024

Notes 2024
£		 2023
£
Cash flows from operating activities:
Net cash (used in) provided by operating activities
A
Cash flows from investing activities:
Interest received
Cash withdrawn from (deposited in) short term deposits
Net cash provided by (used in) investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 January 2024
B
Cash and cash equivalents at 31 December 2024
B		 (253,950) 379,300
10,572
220,000		 —
(350,000)
230,572 (350,000)
(23,378)
29,300		 29,300
—
5,922 29,300

A. Reconciliation of net movement in funds to net cash used in operating activities

Net movement in funds (as per the statement of financial activities)
Adjustments for:
Interest receivable
(Decrease) increase in creditors
Net cash (used in) provided by operating activities		 2024
£		 2023
£
(235,230)
(8,620)
(10,100)
(253,950)		 367,046
(2,446)
14,700
379,300

B. Analysis of cash and cash equivalents

At 1
January
2024
£		 Cash flows
£		 At 31
December
2024
£
Total cash and cash equivalents:
Cash at bank and in hand		 29,300 (23,378) 5,922

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 19

Principal accounting policies Year to 31 December 2024

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 2024 with comparative information provided for the year to 31 December 2023.

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.

The accounts are presented in sterling and are rounded to the nearest pound.

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 2025, 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 20

Principal accounting policies Year to 31 December 2024

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.

In accordance with the Charities SORP FRS 102 volunteer time is not recognised.

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.

In the year to 31 December 2024 and 2023. All costs were in relation to the support of the General Leadership Team.

Religious of the Holy Family of Bordeaux CIO 21

Principal accounting policies Year to 31 December 2024

Debtors

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

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 of more than three months but less than one year have been disclosed as short-term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

Creditors and provisions

Creditors and provisions 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 and provisions are recognised at the amount the charitable company 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.

Fund accounting

The funds of the charitable company are unrestricted and, therefore, are available for use in furtherance of the charitable company’s objectives at the discretion of the trustees.

Services provided by trustees

For the purposes of these accounts, no monetary value has been placed on the administrative and other services provided by the trustees.

Religious of the Holy Family of Bordeaux CIO 22

Notes to the financial statements Year to 31 December 2024

1 Income from: Donations receivable

Income from: Donations receivable
2024
£		 2023
£
The Sisters of the Holy Family of Bordeaux 519,248 400,000

During the year ended 31 December 2024 donations totalling £313,857 (2023: £400,000) were received from 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 balance of the donations in 2024 comprised monies from other provinces.

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

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2024 2023
£ £
The Sisters of the Holy Family of Bordeaux:
Province of India – Financial support for the life and mission of our
sisters in India 296,764 —
Province of Colombo – Building a four-story accommodation block for
students 171,130 —
Province of Philippines – Financial support for the life and mission of
our sisters in the Philippines, including formation of sisters 40,900 —
Province of Congo – Construction of the provincial house in Kinshasa 171,130 —
Province of Malawi – Support of the sisters’ ministry 42,782 —
Province of Pakistan – Support of the sisters’ ministry 32,429 —
Province of Rwanda – Formation of Sisters Learning Language
Programme: Legal and professional fees (10,732) 21,000
744,403 21,000
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Since the year end the donation given to Colombo has been forwarded to the Jaffna Province, as the Province of Canada has decided to support Colombo’s project in the future.

3 Support of the General Leadership Team and international meetings/administration

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2024 2023
£ £
Support of the International Interculturality Team in Rome 4,086 10,200
Support costs
.. Governance costs 8,117 1,800
.. Other legal and professional fees 6,140 2,400
.. Bank charges 352 —
18,695 14,400
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Religious of the Holy Family of Bordeaux CIO 23

Notes to the financial statements Year to 31 December 2024

4 Net movement in funds - net (expenditure) income

This is stated after charging:

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2024 2023
£ £
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£ £
Staff costs (Note 5) — —
Independent examiner’s fee (Amanda Francis)
. Independent examination services
.. Current year 1,000 —
. Other services 1,000 —
Independent examiner’s fee and related remuneration ((Buzzacott LLP)
. Independent examination services
.. Prior year — 1,800
. Other services 4,200 2,400

5 Staff costs, key management personnel and trustees’ remuneration

During the year to 31 December 2024 and year to 31 December 2023 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 (2023 – 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 (2023 – none).

6 Taxation

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 or gains derived from its charitable activities as they fall within the exemptions available to registered charities.

7 Debtors 2024
£		 2023
£
Interest receivable 494 2,446

Religious of the Holy Family of Bordeaux CIO 24

Notes to the financial statements Year to 31 December 2024

8 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2024
£		 2023
£
Expense creditors
Accruals		 600
4,000
4,600		 —
14,700
14,700

9 Related party transactions

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

During the year, the Generalate of the Holy Family of Bordeaux, donated £11,091 to the charity and made payments of £779,790 on behalf of the charity. The charity refunded £768,700 to the Generalate.

During the year ended 31 December 2024 donations totalling £313,857 (2023: £400,000) were received from 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 (2023 – none).

10 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.

11 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.

Religious of the Holy Family of Bordeaux CIO 25