Franciscan Centre Ladywell cio Unaudlled Annual Report and Accounts 31 Dec8mber 2024 Chariiy Regists¥tion Mjmber. 11*516 Contsnts Raports Reference and administrative delalls of the charity, Its trustees and adviseis R8POrt of the trustees Accounts Stalgment of financial activities Balance sheet Principal accounting policies Notes to the accounts Franciscan Centre Lad￿ell CIO Rofor•nco and admlnlstrallvg detalls of the charlty Its Irustoes and advls•rJ Trust90$ Sister Jane Bertelsen Sister Helen Doyle Sister Helena McEvilly Slster Monica Weedon Congrogatlonal leader (Superlor Genornl) Sister Jane Bertetsen General BuT8ar Sister Hel8na McEvilly Admlnlstratlve Addr888 Ladywell Convenl Ashstead Lane Godalming SuTrey GU7 1ST Charfty Reglstratlon Number 1199517 Accountant Buzzacott Audit LLP 130 Wood Street London EC2V 6DL Bankers National Westminster Bank plc PO Box 299 High Street Guildford GU13ZU Sollcltors Stone Klng LLP Upper Borough Court Upper Borough Walls Bath BA1 1RG Franciscan Centre Ladywell CIO 1 Report of Ihe trustees Year ended 31 December 2024 The trustegs present Iheir annual report togglher with the accounts of the Franciscan Centre Ladywell CIO {the'charity'} for the year ended 31 December 2024. The accounts have been prepared in accordance with tho accounting policies set out on page 7 of the attached accounts and compty with applicable United Kingdom Accounting Standard$ (United Kingdom Generally Accepted Accountlng Practicel- The principles sel oul in Accounting and Reporting by Charitios: Statement of Recommended Practice appllcable to charltles preparing thair accounts In accordance with trte Flnancial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) have begn followed in the preparation of this report and accounts. Obj8dive$ The objectives of the Franciscan Centre Ladwwell CIO, as set out in its goveming d¢xum8nt. are.. • such lawful charitable purposes which advance the religious and other charitable work carried on by or with the support of the Congregation" and • the advancement of the Roman Catholic rgligion in accordance with Ihe principles of the worldwide Franciscan mission to include. but not limited to. the Congregation's charism, in such ways as the truslees with the approval of the Congr8gational Leader shall from time to time Ihink frt. In setting th8 chariVs objectives and planning ils activities. the trustees have given careful Considera￿On lo the Charity Commlsslon's general guidance on public benefit. ActIvI￿&S and ￿rfornIan¢tt The charity had no activities and hence no income or expenditure In the period to 31 December 2024 or in tha comparative period. The gntity has remained dormant since its ¢reation. Future plans In due Course. the Franciscan Centre Ladywell CIO will continue certain aspects of the work of its predecessor charty, the Franciscan Missionaries of the Divine Motherhood Charitabl8 Trust {charity registration number. 2320981. Rolgvant policio8 ReseThes policy n due course, the trustees will examine the need for fr8e reserves, i.e. those unrestricted funds not invested in tangible fixed assets. designated for specffjic purpose5 or otherwise committed. As the charity had no actwilies in year ended 31 December 2024, there were £nil reseNes at the balance sheet date. Franciscan Centre Ladywell CIO 2 Roport of tha trusteos Year ended 31 December 2024 Gov•mance, $tructur• and rnanaggment Trustge¥ The Superior General of the Congregation. the First Councillor and two other General Councilltsrs are cyrrently the Trustees. They ensure that they attend tnjslee training days throughout their temi as trustees. Where the trustees and members of the General Council do not have the relevant Skills, advice is taken frt)m professional advisors and advisers. There is 8 System of accountability within the Congregation to ensure that the Superior General and her Councll are fully aware of the progress and development of the mlnislries Carried out by the Sisters of the CorKJregation. rrusteos, responslbllltles statement The trustees are responsible for preparing the trustees, reFN)rt and accounts in accordance with applicablg law and United Kingdom kcounting Slandards (Unitèd Kingdom Ggneral Accepted Accounting Practice). Tho 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 stale of affairs of the chaTty and of the income and expenditure of the charity for that period. In preparing these accounts. the trustees are r8qulred to: select suitable 8ccounting polici88 8nd then apply them consistentty. observe tt)e methods and princlples In ACCOUn￿n9 and Reportlng by Charities.. Ststement of Recommend8d Practice appllcable to charlties preparSng th8ir accounts In acGordance with the Financial Reporting Standard applicable in the United Ktngdom and Republic of Ireland IFRS 1021.. make judgements and estimates that are reasonable and prudont" state vthethèr appli¢abl6 United Kingdom A¢¢ounting Standards have bean followed, subject to any material dep8rtures discktsed and explained in the accounts,. and prepare the accounts on the going concern basis unless it is inappropriate lo presume that the charity will continue in operation. The Iruslees are responsible for keeping propgr accounling rgcords that disclose with reasonable accuracy at any tim& the finanaal position of the charity and enable them to ensure that the financtal statements comply with the Charities Act 2011. the relevant Charity (Accounts and Repots) Regulations and the Provislons of the charitys constitution. They are also Tesponslble for safeguarding the assets of the charty and hence for takSng reasonable steps for the prevention and detoction of fraud and other irregularities. Structure and management reportlng In due course, the day-to4ay management of the charlty's actlvlties, and the implementation of policies, will be dglegalgd to the appropriate members of a Committee or sgnior staff. Franciscan Centre Ladywell CIO 3 Report of thg trustoes Year ended 31 December 2024 Rlsk management The charity undertook no activities during the year ended 31 December 2024 and does not plan on undertaking aclwilies during the year ending 31 December 2025. The Trustees will meet to asse$$ the principal rlsk$ to the charlty prior to the ¢ommen¢ement of a¢twitie$. Approved by and signed on the behaw of the trustees: Trustee Approved by the trustees on.. 8R JUL¥ 201 Franciscan Centre Ladywell CIO 4 Statement of flnanclal actlvttles Year ended 31 December 2024 1 July Y￿r to 31 2022 10 31 D￿eM￿r December 2024 2023 Total Income Total •xp•ndStur• Not Incom• and n•t mo¥•m•nt In funds In th• ￿ar RoconcllSatlon of fvnds Total fund8 brought forward TotBI fijnds Gafried fO￿ard Th8 charity was domiant durlng the above financial podod receNing no income and incurrlng no expenditurg. The charity had no recognised gains and Iossg5 during the abovg financial period and therefore no separate statement of total recognised gains and losses has been presented. Franciscan Cgntr9 Ladywell CIO S Balan¢0 8hg•t 31 December 2024 As there has been no activity from the dale of Incorporation li.e. 1 July 20221 to 31 December 2024. th8 charity had no assets or liabilities at 31 DeGemb8r 2024. Approved by the trustees and slgned on thelr behalf by: Trustee Approved on: S ' lols Franciscan Centre Ladywell CIO 6 PrlnGlpal acGountlng pollGlo8 31 D&Gember 2024 The principal accounting policies adopted, judgem8nts and key sources of estimation un¢èrtainty in th& preparation of Ihe accounts are laid out below. Ba51$ of prgparation These accounts have been prepared for the year ended 31 December 2024 with comparatNe information provided in respect of the period 1 July 2022 to 31 Oecember 2023. The accounts have been prepared under the hislorioal Cost convention with items recognised at cost or transaction value unless Othe￿Is6 stated in the relevant accountin9 policies below or the notes lo these ac¢ounls. Th8 accounts are presented in sterling and are rounded to the nearest F4)und. The accounts have been prepared in accordance with Accounting and Reporting by Chafities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabl8 in the United Kingdom and Republic of Ireland (Charitles SORP FRS 1021. the Flnancial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and tho Charitié5 Act 2011. The charity constitutes a public benefit entity as defined by FRS 102. Assessment of golng conc•rn The trustees have assessed whether the use of the going concem assumption is appropriate In pT8paring thesg accounts. Thfj tru$tees havo mad8 th1$ a8$8ssmenl In re8pe¢l to a perlod of one year from the dale of approval ofthese aGcounts. Tho trustees of the charity have concluded that there are no material unGertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concem. The truste6s are of the opinion that the charity will have sufficient resources lo meet its liabilities as they fall due. Cr5tlcal accountlng estlmates and areas of ludgement Other than the assessment of going concem. the preparation of the accounts did not require the truslees to make any significanl judgements or estimates. Cash flow statement The accounts do not include a cash flow statement because the charity, as a small reporting onlity, 1$ exempt from the requirement to prepare such a statement under the Charities SORP (FRS 102} Update Bulletin 1. Income recognltlon Income is recognised in the peTiod in which the charity ha$ entitlement to *hè incorrE. the amount of income can be measured reliably and It is probable thatthe income will be received. Expendrture recognitlon Liabilities are recognised as expenditure as soon as there 15 a legal or conslTuGtive obligation committing the charity to make a payment to a third party, il is probable that a transfer of economlc benefits will be required in settlement and the amount of the obligatlon can be measured reliably. Franciscan Centre Ladywell CIO 7 Note to the accounts 31 December 2024 1 Staff costs. remuneratlon ol trustses and related party transactlons During the year ended 31 December 2024 the charity employod no staff and therefore incu￿ed £nil staff costs. The trustees received no remuneration during Ihe year. There were no related party transactions requiring disclosure during the year. 2 Taxatlon The Fran¢isGan Centre Ladywell CIO is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as11 falls within the various exemptions available to registered charities. Franciscan C•ntre Lad￿11 CS0 8