## **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:
- Holding General Council Meetings to respond to different requests from the Provinces.
- Many animation meetings via Zoom were organized to improve the quality of life of the sisters and the mission.
Religious of the Holy Family of Bordeaux CIO **2**
**Trustees' report** 31 December 2024
## **Activities performance and future plans** (continued)
- From the 6 to 11 May 2024, a meeting was organized for all the bursars of the Institute. This was held in Rome.
- Some trustees paid visits to different Provinces to meet the sisters, evaluate and improve the living of Mission. Those Provinces are Jaffna in Sri Lanka, Philippines, Rwanda, Congo, Oteiza in Spain and Poland.
- Some trustees engaged in planning, organizing and delivering the continental meetings with the formation teams in the Provinces and Vicariate. Meetings were scheduled as follows:
- 2 to 8 July – European Continent: this was held in Rome.
- 22 to 31 July – Asian continent in Sri Lanka.
- 22 to 31July – Continent of America in Paraguay.
- 22 to 31August – African continent in Rwanda.
- From 1 to 12 October, a session with all the Leaders of the Provinces was held to evaluate the journey after the General Chapter 2021 and to plan the way forward till the next General Chapter in 2027. This was held in Rome.
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
- 2 Support of the work of Provinces
- 3 Support of the International meetings
## _**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
2. 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:
- The purpose of the team
- The Mandate
- Introducing the team members
- The function of the team
- The work done by the team until today
- The challenges
- The future plans
## _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:
- Spirituality
- Formation
- Finance
- New insertions and twilight of life
- Structures and leadership
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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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:
- Governance risk – there is a risk that the trustees, being part of the General Leadership Team, may have limited knowledge of English charity law and regulations. This is mitigated by the use of specialist advisors.
- The charity's principal asset currently comprises two bank accounts. This remains appropriate to the charity's needs now. As further sums are received in the future, the charity will need to establish an investment policy. Currently the charity’s policy of authorised signatories is closely monitored to ensure that funds are secure.
- From time to time, the charity donates significant sums overseas in support of the wider Institute and other organisations. The vast majority of the donations sent overseas are to fund projects administered directly by members of the Institute.
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:
- accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- the accounts do not accord with those records.
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**
**----- Start of picture text -----**
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
**----- End of picture text -----**
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**
**----- Start of picture text -----**
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
**----- End of picture text -----**
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:
**----- Start of picture text -----**
2024 2023
£ £
**----- End of picture text -----**
||**£**|£|
|---|---|---|
|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**