Congregation of Our Lady of the Missions CIO
Unaudited Report and Accounts
31 December 2020
Charity Registration Number 1189330
Contents
Reports
| Reports | Reports |
|---|---|
| Reference and administration details of the | |
| charity, its trustees and advisers | 1 |
| Report of the trustees | 2 |
| Accounts | |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Principal accounting policies | 10 |
| Notes to the accounts | 12 |
Congregation of Our Lady of the Missions CIO
Reference and administration details of the charity, its trustees and advisers
| Trustees | Sister Catherine Corrigan |
|---|---|
| Sister Anne Cleary | |
| Sister Rose Mary Harbinson | |
| Sister Margaret McMahon (Retired 1 | |
| September 2021) | |
| Sister Margaret Murphy | |
| Sister Mary Brigid Toner | |
| Sister Margaret Doherty(Appointed 1 | |
| August 2020) | |
| Sister Brigid Quinn (Retired 31 July 2020) | |
| Principal address | 108 Spencer Road |
| Wealdstone | |
| Middlesex | |
| HA3 7AR | |
| Charity registration number | 1189330 |
| Accountant | Buzzacott LLP |
| 130 Wood Street | |
| London | |
| EC2V 6DL | |
| Solicitors | Stone King LLP |
| 13 Queen Square | |
| Bath | |
| BA1 2HJ | |
| From 13 October 2021 | Hunters Law LLP |
| 9 New Square | |
| Lincoln’s Inn | |
| London | |
| WC2A 3QN | |
| Until 30 June 2021 | IBB Law LLP |
| Capital Court | |
| 30 Windsor Street | |
| Uxbridge | |
| Middlesex | |
| UB8 1AB |
Congregation of Our Lady of the Missions CIO 1
Report of the trustees Period from 4 May 2020 to 31 December 2020
The trustees present their report together with the accounts of the Congregation of Our Lady of the Missions CIO (the “charity”) for the period from the date of registration (4 May 2020) to 31 December 2020.
The accounts have been prepared in accordance with the accounting policies set out on pages 10 and 11 and comply with applicable laws and 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).
Introduction
The Congregation of Our Lady of the Missions (the “Congregation”) or the Religieuses de Notre Dame des Missions (RNDM) was founded in 1861 by Euphrasie Barbier, a young woman from Normandy, France. It is an International Religious Missionary Congregation whose members minister in Australia, Bangladesh, UK and Ireland, Canada, France, India, Italy, Kenya, Peru, Bolivia, Myanmar, New Zealand/Samoa, Philippines, Senegal, South Sudan, Vietnam, Laos, Taiwan, and Thailand. The Sisters develop and run a wide range of activities in these countries. With a central focus on missionary work and evangelisation, the Congregation is heavily involved in the running of convents, schools, orphanages, hostels, maternity homes, and dispensaries. The Sisters have as their priority being present to and working with those who are vulnerable and neglected, those marginalised in our world today. This is with specific regard to women, children, youth, indigenous peoples, migrants, and victims of human trafficking. Project-based work is dictated by the needs of the local communities.
The Congregation is divided into geographical provinces, of which the UK and Ireland Province is one. The Congregation’s Generalate is in Rome.
The accounts accompanying this report are the accounts of the Charitable Incorporated Organisation (CIO) through which the assets of the UK and Ireland Province, but excluding that part in the Republic of Ireland, will be administered and through which its finances will be operated from 1 January 2021.
The Congregation of Our Lady of the Missions CIO was established on 4 May 2020, and remained dormant in the period to 31 December 2020. With effect from midnight on 31 December 2020, in accordance with a legal transfer of undertakings and a resolution of the trustees, the activities, assets and liabilities of the Congregation of Our Lady of the Missions Charitable Trust (Charity Registration Number: 233599) were transferred as a going concern into the newly formed Charitable Incorporated Organisation (CIO).
The charity is governed by a Constitution dated 4 May 2020 and is registered with the Charity Commission, Charity Registration No. 1189330.
Congregation of Our Lady of the Missions CIO 2
Report of the trustees Period from 4 May 2020 to 31 December 2020
Principal aims
The object of the charity is the support of such charitable purposes as to advance the religious and other charitable work being carried on by, or under the direction of, the Congregation. Such purposes include the promotion of the Roman Catholic religion, seeking ways to foster interfaith dialogue. The Congregation takes a holistic approach to education, empowerment of women and the spread of Christian values, of caring for the needy and promoting justice, peace, and the integrity of creation.
Governance, structure and management
Trustees
The charity is governed by a Constitution dated 4 May 2020 and is a registered charity, Charity Registration No. 1189330.
The Provincial Leader and the Provincial Leadership Team automatically serve as ex-officio trustees. The Constitution vests the power of appointing further trustees in the Provincial Leader of the UK and Ireland Province.
At any one time there must be a minimum of four and a maximum of seven trustees. The names of the trustees who were in office during the year are set out on page 1. As all trustees are members of the Congregation they have a detailed knowledge of the work which the charity will carry out with effect from 1 January 2021 and of its structure. On being appointed, new trustees will spend some time with those trustees leaving office. Once the charity is operational, they will also meet with the Congregation’s legal, accounting, investment and property advisers in order to obtain a full briefing of their responsibilities and the charity’s position and attend appropriate study days.
Trustees’ responsibilities statement
The trustees are responsible for preparing the annual 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 year, which give a true and fair view of the state of affairs of the charity and of income and expenditure of the charity for that period. In preparing these accounts the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in Accounting and Reporting by charities: Statement of Recommended Practice applicable by charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the United Kingdom and Republic of Ireland (FRS 102);
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make judgments and estimates that are reasonable and prudent;
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state whether applicable United Kingdom Standards have been followed subject to any material departures disclosed and explained in the accounts; and
Congregation of Our Lady of the Missions CIO 3
Report of the trustees Period from 4 May 2020 to 31 December 2020
Governance, structure and management (continued)
Trustees’ responsibilities statement (continued)
- 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 are sufficient to show and explain the charity’s transactions and 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 charity’s trust deed. 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 or other irregularities.
Structure and management reporting
The trustees are ultimately responsible for the policies, activities and assets of the charity. With effect from 1 January 2021, they will meet regularly to review developments with regard to the charity or its activities and make any important decisions. When necessary, the trustees will seek advice and support from the charity’s professional advisers including investment managers, solicitors and accountants.
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.
All trustees are members of the Congregation and whilst their living and personal expenses are borne by the charity, they receive no remuneration or reimbursement of expenses in connection with their duties as trustees or members of key management.
Risk management
The trustees have assessed the major risks to which the charity will be exposed and in particular those relating to the specific operational areas of the charity, its investments and its finances. The trustees believe that by monitoring the reserve levels, by ensuring controls exist over key financial systems, and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks.
The trustees have identified five main areas where risks may occur: governance and management; operational; financial; reputational; and regulatory.
The issues relating to health and safety risks are the responsibility of each community which is accountable to the Province Leadership Team.
In our larger properties in Kent where our elderly and frail Sisters live, we are registered with a company called Peninsula which supports us with advice on Employment Law and Health and Safety issues. They regularly inspect these premises to ensure compliance with regulations. In St Anne’s Convent we are also managed by Field Lane Management Group who report at each meeting on Health and Safety and Maintenance and make us aware of any risk issues.
Congregation of Our Lady of the Missions CIO 4
Report of the trustees Period from 4 May 2020 to 31 December 2020
Governance, structure and management (continued)
Risk management (continued)
The median age in our Province on 31 December 2020 was 80. None of the members of the Province has any individual resources or income and there is an obligation on the trustees to ensure that there are adequate financial resources in place to provide for the needs of the Sisters as they grow older. We have an external financial advisor who assists us in managing our finances and investments. Part of our risk management is to meet with our financial advisor and review our finances and investments.
There is constant review of the Sisters engaged in ministry, identifying their needs and taking into account their situation with an awareness of their age, energy and general health. Opportunities are offered for periods of rest and renewal. However, during 2020 Covid-19 and local lockdown imposed by the government reduced travel and breaks away from the community. Renewal and retreats, and mindfulness sessions were virtual experiences by Zoom. The Sisters found them both helpful and refreshing.
We support our Missions worldwide as well as other needy causes, especially those in crisis situations. We ensure we are fully briefed on the nature of the Charities to which we contribute. We receive receipts for payments made. Bank transfers to our overseas missions are monitored by our Generalate Leadership Team in Rome, and our International Mission Desk. There is e-mail acknowledgement of receipt of the money. Reports and photographs follow later.
The charity’s assets will consist of listed investments and properties. We have a property advisor whose role is to advise us in the acquisition and sale of property. Our investments are managed by reputable managers with whom we have agreed our policies for investment. We also have an external investment advisor with whom we have regular meetings and who monitors the performance of our investments on a regular basis. The trustees will meet annually with the investment managers and more frequently with our external advisor to ensure that our investments will meet our needs now and in the future.
We have a community in Kent in which our elderly Sisters are cared for by members of the Congregation and employed carers. The carers have ongoing training regarding aspects of care for adults at risk. The Leadership Team forms part of the board and monitors the quality of training and care of the Sisters.
Activities and performance
The charity had no activities and hence no income or expenditure in the period ended 31 December 2020.
Congregation of Our Lady of the Missions CIO 5
Report of the trustees Period from 4 May 2020 to 31 December 2020
Future plans
Since the period end the activities, assets and liabilities of the Congregation of Our Lady of the Missions Charitable Trust have been transferred to the charity.
The charity will continue the activities of its predecessor charity without any significant change in the short term.
We will continue our engagement of Field Lane Management Group to assist us in the overall management of our care community in Sturry, Canterbury. This group has considerable experience in supporting some of the most vulnerable people in our society and also in direct management support of charities, similar to ours. This is what particularly attracted us to work with them.
We have appointed a Manager for whom ongoing training and supervision is provided by Field Lane. She takes responsibility for the running of the home, again, under the supervision of Field Lane Management group. She is assisted by a Deputy Manager and Senior Carer who together share responsibility for the efficient running of the home and the care of the resident Sisters.
Maintenance of the building is taken care of by Field Lane as is supervision and training of staff.
Since Sturry is important to us as a heritage site for our Congregation, our Foundress being buried there, we have a project in place to ensure its viability for the future. We would see Field Lane continuing to supervise and monitor the care of the residents of St Anne’s and also the maintenance of the building. For the present, this is occupied by our Sisters and we would anticipate that, in the future, lay people will be invited to join us. Our registering with the CQC will allow us to offer this to lay people for a fee agreed by them and ourselves.
The two other buildings on the site – Brooklyn House and Euphrasie Barbier Community – will be refurbished and renovated. Brooklyn House will offer accommodation to a pastoral care team we hope to have in place to cater for the needs of the residents of St Anne’s. Euphrasie Barbier will offer assisted living accommodation. All these arrangements will initially be for our own Sisters and then ultimately for lay residents.
Stage 1 of the refurbishment project for Brooklyn House has been completed. This comprised the exterior work to the building but because of Covid-19 and the inclement weather we experienced, the work was delayed and went over the scheduled time for completion. It was completed by June 2020.
Stage 2 of the project which consists of the interior refurbishment of Brooklyn House started on 2 November 2020 and was completed in May 2021.
Stage 3 is updating and renovating of the interior of Euphrasie Barbier House. This will commence when the interior work of Brooklyn is completed.
Finance for Stages 2 has been donated by the worldwide Congregation. Each province has been asked to contribute to the fund which is overseen by the Congregation Leadership Team. Finance for Stage 3 will come from the Congregational charity in Ireland.
Congregation of Our Lady of the Missions CIO 6
Report of the trustees Period from 4 May 2020 to 31 December 2020
Future plans (continued)
Our financial advisors have assisted us with the planning of the project, with particular regard to the funding required. Matters such as our numbers, age profile, life expectancy, properties and assets have been and will be taken into consideration. This is an on-going process.
Discussions re succession planning have begun and possible options open to us are being considered. We hope to have a member of our Congregational Leadership Team involved in this.
Reserves policy
The charity will carry out a diverse range of activities that were previously carried out by its predecessor charity, and will be responsible for care and support of Sisters whose average age is increasing and whose needs are changing. The trustees of the charity have examined the need for free reserves i.e. those unrestricted funds not invested in tangible fixed assets, designated for specific purposes or otherwise committed. The trustees consider that, given the nature of the charity’s work, the level of the charity’s free reserves should ideally be approximately a year’s expenditure to provide for contingencies and unevenness in future income.
Signed on behalf of the trustees
Catherine Corrigan (Sister)
Trustee
Approved by the trustees on: 27 October 2021
Congregation of Our Lady of the Missions CIO 7
Statement of financial activities Period from 4 May 2020 to 31 December 2020
| Notes | Period from 4 May 2020 to 31 December 2020 £ — — — — |
|---|---|
| Total income Total expenditure Net income and net movement in funds for the period Reconciliation of funds: Total funds carried forward at 31 December 2020 |
The charity had no recognised gains and losses during the above financial period and therefore no separate statement of total recognised gains and losses has been presented.
Congregation of Our Lady of the Missions CIO 8
Balance sheet 31 December 2020
As there has been no activity from the period of incorporation to 31 December 2020, the charity had no assets or liabilities at that date.
Approved by the trustees and signed on their behalf by:
Catherine Corrigan (Sister
Trustee Approved on: 27 October 2021
Congregation of Our Lady of the Missions CIO 9
Principal accounting policies 31 December 2020
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 period from incorporation on 4 May 2020 to 31 December 2020.
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.
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 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. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.
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.
Cash flow statement
The accounts do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Charities SORP (FRS 102) Update Bulletin 1.
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.
Congregation of Our Lady of the Missions CIO 10
Principal accounting policies 31 December 2020
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.
Congregation of Our Lady of the Missions CIO 11
Notes to the accounts 31 December 2020
1 Staff costs and remuneration of trustees and key management personnel
During the period the charity employed no staff and therefore incurred £nil staff costs.
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.
2 Taxation
The Congregation of Our Lady of the Missions 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.
3 Post balance sheet event
With effect from 1 January 2021, certain of the activities, assets and liabilities of The Congregation of Our Lady of the Missions Charitable Trust have been transferred to the charity and, as a consequence, the charity will commence its activities from that date.
Congregation of Our Lady of the Missions CIO 12