Chaiity number: 215027
THE CONVENT OF THE SISTERS OF CHARITY- SERVANTS OF THE
POOR
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Bishop Fleming

ThE CONVENT OF ThE SISTERS OF CHARITY- SERVANTS OF THE POOR
CONTENTS
Reference and Administrative Details of Ihe Charty, its Trustees and Advisers
Page
Trustees. Report
Independent Examiner's Report
statement of Financial ActivitFes
Balance ShÈet
Notes to the Financial Statements
10-16

THE CONVENT OF THE SISTERS OF CHARITY- SERVANTS OF THE POOR
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trusteè$ in th& year
The Reverend Mother M E Taylor, Superior and Treasurer
The Reverend Sister C Lockhart, Assistant Superior (deceased 2 May 20231
Miss J M KI￿l￿On
Mrs J E Oalway
Mis E Smith
Falh&i R Beck
Charity registered
number
215027
Princlpal offlce
15 Cornwood Road
P￿Mpton
Plymouth
PL7 1AL
A¢¢ouTrtant
Bishop Fleming LLP
Chartefed Ae¢ountsnts
7 0 Temple Back
Bristol
BS16FL
Bankers
Nalwest
74n6 Ridgeway
Plympton
Ptymouth
PL7 ZAF
Solicitors
Knights plc
Springfiehl House
45 Welsh Back
Bristol
BS14AG
Investment advisors
Evetyn Partners
Porhvall Place
Pothall Lane
Bristol
8S16NA
Page 1

THE CONVENT OF THE SISTERS OF CHARITY- SERVANTS OF THE POOR
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trtsslees present their annual report logelher wtth the financial statements of the The Convant ofthe Sisters
of Charity- Servants of the Poor foi the 1 January 2023 to 31 December 2023.
The Trustees confirm that the finana91 ststements have been prepared In accoTdance with the accounting
liues set out in notes to the accounts and comply wrth the Charity's goveming document, the Charitios Act
2011 and Accounting and Reporting by Charities." Statement of Recommended Practice applicablè lo charities
preparing their Accounts in accordance Mth the Financial ReFK)rting Standard applicable in the UK and Republic
of Ireland published on 16 July 2014.
Objèrtives and activities
a. Policies and obje¢tives
The objecl of the Charity is to honour the Chartty of our Lord and Savioui Jesus Christ by works of Merry,
Spiritual and Temporal, the poor, the sitrk, prisoners, orphans, aged end infirm persons or pèrsons in any other
need.
In setting objectives and planning for activits'es, the Trustees have given due consideration lo general guidance
published by the Chaiity Commission relating to public btsnefit, including the guidance 'Public benefit". running a
charity IPB21'.
b. Strategigs for achièving objectivès
Until 2019 the Community of the Sisters of Charity had maln divisions situated al 83 Fore Street and St
Vincent's Nursing Home both in Plympton Sl Maurice. Ptymouth. Devon. Sl Vincenys Nursing Hotne was closed
in 2018 then sold in November 2019. A new Mother House was purchased in 2018 at Greenacre$, 15
Cornwood Road, Ptympton.
The Reverend Mother Superior is in Charge of the Community as a whole.
c. Activities undertaken to achieve objectives
Most of the Sisters have been funded lo a greater or lesser degreo by the Community. The Réverend Mother
SUI￿rior has pastoral responsilylty for the Home and 81so has som& pastoral responsibility in the lo(21 parlsh.
One Sister was ongag$d in ectJmeni￿I and 50aal work on the Isle of Lewi5 duiing the yeai. Mu¢h of her work
invofved the teaching of prayer 8nd spiJituality and membotship of the Scottish General Syn(>d. She was also a
locum priest in Stornoway, supervised a curate on the Isle of SW and was also a trusl&e of the Diocese of
Argyll and the Isles, being a careT of Oban Cathe(tral.
The Charity has also continued to provide accommodation at 2 properties at a dis¢ounlèd rale throughout the
year. and make donalions as appropriate lo othèr Worthy Causes.
Achievèments and perfomian¢e
Review of actiV￿leS
Duiing the yèar. the &slers have conlinued lo be invofved in the local parish and continue to provide a residence
foi a Chaplain to the community.
b. Investment policy and perforniance
The Trustees are satisfied that sufficient invtsstment income was obtained from the investment portfolio, given
the mrket conditions in the year.
Page 2

THE CONVENT OF THE SISTERS OF CHARl￿-sERVANTs OF THE POOR
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEM8ER 2023
Financial reviÈw
Going concern
After making appropriate enquiries. the Tiuslees have a reasonable expectatron that the Charity has adequate
resources to continLte in operational exi5ten¢e for the foieseeable future. FOT this ieason, they continu& to adopt
the g￿n9 concèrn basis in prèparing the financial slalements. Further detai15 regarding the adoption oflhe going
concem basis can be found in the accounling policles.
b. Resèrves pollcy
The reserves of the Charity must of a sufficient level lo ensure that rts iecurring commitments and planned
revenue expenditure can be met. The Charity aims to hold at least three month's expenditsJ¥e in cash. Al the
year fjnd the Charity held £32,444 in cash. The Charity had unre8trict8d funds of Q,031,443.
The Trustees will continue to ￿Onitor total reserves to ensure they remain at a suffiagnt leval. The Charity
seeks to make provision for their care of sick and int7rm memb&t5, and ￿entUallY fo¥ their funeral expenses.
Once these requirements have been met. any surplus will be distrib(rted by way of grants in accordance with the
objécts ofthe Charity.
¢. Material investments policy
Tho Hokling Trustees, on behalf of the Tntstees. have considered the most appropriate policy for invgsting
fvnds. They consider that investment in a medium risk portfolio comprised of equity, fixed incorne stocks and
cash meets their requirements to balance gen@f8tion of both in¢ome and cap&tal g¥owih.
The Investment Managers have also been inslrueted to follow the Statement of Ethical Investment Policy of the
Church of England. This seeks lo invest in companies th8t will Success￿1￿ develop thei¥ business in the interest
of shareholders but which aLso demonstrate reasonable employment practices and are conscients.ous wncerning
issues of corporate gov9rnan¢e, environmental performance and are sen￿lIve to the communitles in which they
opeTate.
The portfolio therefore excludes companies prirnarily inVo￿ed in toba¢co: alcohol, gambling.
atmaments and Pornography.
d. Resutts
The afXOLsnts on pages 8 - 16 set out the details of the Statement of Financial for the year ended 31
Deornber 2023 and the balance sheet as at that date.
There was net expenditilfe for the year of £153.67912072- £152,454). There wgie trKJth realis8d afid unrealised
losses on the investn*nt portfolio totalling £4,21012022 - losses of £138,188) giving a net decrease in funds for
the y$8r of £157,889 (2022 - £290,642).
Structure, governance and management
a. Constitution
The CDnvent of the Sisters of Charify - Sgrvants of the PooT is a regrstered charity, number 215027, and is
constituted undeT a Tiust deed.
The CharityÈ address 1$ 15 Cornwood Road, Plympton, PL7 1AL, and ils legal and certain adnwnistrgtive matters
are dealt wtth at Knights plc, Springfiekl House. 45 Welsh Back, Brtstol. BS1 4AG.
Page 3

THE COWENT OF THE SISTERS OF CHARITY- SERVANTS OF ThE POOR
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
StructuYe¥ govemance and managemènt (CONTINUED)
b. Methods of appointment or èlection of Trustees
The general control and management of the Charity Is vested in the Trustees who, during the year W8re.'
The Reverend Mother M E Taylor, Superioi and Treasurer
The Reverend Sister, C Lockhart, Assistant Superior Idec&ased 2 May 2023)
Miss J M Kifvington
Mrs J E Oaiway
Mrs E Smith
Father R Beck
The Reverend Mother Superior is 8SSlSted in the overall management of the community on Feg81 matters and
investment ptslicy by the Holding Trusleos and independent investment advisors.
The Hokling Trustees during the year were..
Mr K Esoott
Mr P NichoLson
Mrsorr
Mr l Oxenham
Mr K Poacock
Trusteas rectrive travel expenses as required. However, the Hokling Trust¢gs recoive no remuneration for their
role as Trustees.
The Reverend Mother Superior is appointed by the Professed Sislets of the Community.
The Assistant Superior is appointed by the Reverend Mother Superior.
All other Tfustees are appointed by the Reverend Mother Supeiior and the siste￿ of the Communty al meeting
of the Chapter.
c. Pay policy for key management personnel
The pay of key manage￿ent pe￿Onnel is agreed by the Trustees. The pay is benchmarked against &rrrilaf
organisalions.
Page 4

THE CoNvE￿r OF THE SISTERS OF CHARITY- SERVANTS OF THE POOR
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Struclurei govemance and management (CONTINUED)
d. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those rèlated to the
operations and finances of the Charity, and are 8atisfie(I that systerrB an¢J procedures ere in pla¢& to mitigate
exposure lo the major r*sks.
The Trustees have identififjd the main fisk as stock ma¥k61 fluctUa￿OnS. Srgnificant gxternal Ftsks to funding may
￿$￿sS[tate the devglopmènt of a strategic plan which wll allow for the diversificalton of funding and activtties.
The properbes and investments of the Charity are hekl by Hokjing Trustees who manage and deal with them in
accordance with the de(asions of the Trustees. In addthot7, they exerase an advisory rol6. Th& Trustees have
delegated management of the investrnents of the Chatity to Evefyn Partners for management on a discretionary
basi5 but in accordance with the investrnent policy laid down ty the Trustees. Reports are made quarterly to the
Tnjstees on the value and perfomianee of the portfoh'o and annual m&8tsngs are held to review the performance
of the portfolio and for guidance on the continuing suitabtlily of the investment policy,
Intemal risks are minirThsed by the implementstion of appropriate authorisation and consistent pr0￿dUreS. The
T¥uslees and Holding Trustees regLFlarty review these procedures to ensure that they still meet the needs of the
Chaiity.
Plans for future periods
The Trustees have carried out a review of the reseNes policy and how they use their funds to meet thelr
chaitable objectives.
This has included a ieview of a¢commodation needs and expenditure and S￿0 a review of property hoktings and
how thèse contribute to the Charity's ¢harilable objectives.
The Reverend Mother Superior Mll continue to provide pastoral support wherè possiblg. The Charity wll
continue to make financial contribtAions to other charities which align with the Charity's charitable obj'ecfives.
Page 5

THE CONVENT OF THE SISTERS OF CHARITY- SERVANTS OF THE POOR
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
STA TEMENT OF TRUSTEES. RESPONSIBILlnES
The Trustees are responsible for preparing the Trustees, Report Snd the financial statements in accordance with
applicable law and Unlled Kingdom Accounting Standards (United Trfjngdom Genefally Accepted AccouTrting
Pra¢tice}.
The taw applicable lo charities in England & Wales requires the Trustees lo prepare fin8ncial statements for
each financial wfiich give a true and fair view of the slate of affaiis of the Chartty and of ils incofThng resources
and application of resources, including its income and expenditure, for that perirxl. In prepar*ng thèse fin8ncial
statements, the Trustee5 are requi¥ed to..
select suit8bl& accounting policies and then apply them consislefttly.,
observe the methods and principles of the Charities SORP (FRS 1021,.
make judgfnents and accounting èstimates that are reasonable and piudent.,
state whether applicable UK Accounting StatrYl8rds IFRS 102) have been followed, subject lo any matèlial
departures disclosed and explaine(l in the financ4al statemènts..
prepare the financial st8temtrnts on the going concern basis unloss it 15 inappropriate to presunp that the
Charity will continue in busine5S.
The Trustees are re3ponsible for keeping adequate accounting records that are sufficient to show and explain
the Charity's Irdnsaclions and disclose with reasoneble accuracy al any lim8 the financial position of the Charity
an(1 enable them to ensure that the financial statements comply with the Charities Act 2011, thè Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for
safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detectitsn of
fraud and other irregularities.
Approved by order of the members of the board of Trustee¥ and signed on their behatf by..
Ic
The Reverend Mothèr M E Taylor
Date.. 8(j oi li)F.LF. liJJt,
Page 6

THE CONVENT OF THE SISTERS OF CHARITY- SERVANTS OF THE POOR
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CONVENT OF THE SISTERS
OF CHARITY- SERVANTS OF THE POOR (Yhe Charity'i
I report to the ¢haTity Trustees on my examinath.on of the accounts of the Charrty for the y8ai ended 31
December 2023.
RESPONSIBILlnES AND BASIS OF REPORT
As the Trustees of the Charity you are responsible for th8 preparation of the accounts in accowdance with the
requirements of the Charitteg Act 2011 Uhe 2011 Act).
I rewrt in respect of my examination ofthe Charity's accounts cairied out ur*der section 145 of the 2011 Act and
in ￿arryIftg out my examination I have followed the applicable Directions given by the Charity CoFnmission under
section 145{51(b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
Your attonts.on is drawn lo the fad that the Charfty has prepared the accounts in accordèn(% wf(h Accounting at)d
Re￿rting by Ch8rib"es.' Statement of Recommended Practice applicable to charits'es preparing their accounts in
accordance with the FinancAal Reporting Standard aPp￿Cable in the UK and Republic of Ireland IFRS 102) in
preference to the A￿Ounting and Reporting by Charthes.. Statement of Recommended Practice issued on 1 April
2005 which is referred to in the extsnl regulatiorY& but has bgen withdrawn.
l undeTStand that this has been done in order for the accounts to provide a true and fail view in accordance with
the Generally Accepted Accounting Praclice effective for reporting periods boginning on or after l Jaftu8ry 2015.
I have ￿MPleted my examination. I confirm that no m8tters have Come to my attention in wnnection wrth the
examination giving me cause lo b&￿eVe that in ony material respect..
accounting re¢))rds were not kept in respect of the ChaFity as iequired by sertion 130 of the 2011 Act; or
the accounts do not accord with those record5', or
the accounts do not comF* wlh thg applicab￿ requirements concerning the fom and content of
accounts set in the Charities (Accounts and Reports) Regulations 2008 other than any Kequirernent
that thè accounts give 8 Irue fairf view which is not a fflattar ¢onsid&r$d as part of an independent
examination.
I have no ¢oncerns and have come across nLF othgr matters in connection knth the exanNn8tion to which
attention should be drawn in this ieport in ordei to enable a proper understanding Of the accounts lo bè reachod.
This report is made Solely to the Charity's Trustees, os a body, in accordance wth Part 4 of Ihe Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state lo the Charity's
Trustees those matters l am requirèd to stsle lo them in an Independent Examinerfs ReFK)rt and for no other
purpose. To the fullest extent pernNtted by law, I do not accept OT assume responsibility to anyone other than the
Charity and the Charfvs TNstees as a b
y, for my work or forthis report.
Signed..
Joseph Scaife DChA FCA
BISHOP FLEMING LLP
Charterod Accountants
10 Temple Back
Bristol
BSI 6FL
Dated.. ￿ 1
Page 7

THE CONVENT OF THE SISTERS OF CHARITY- SERVANTS OF THE POOR
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted
funds
2023
Totsl
funds
2023
Total
funds
2022
Incom8 from:
Donations and legacies
Charitable a¢tivifies
Other trading aetivitses
Investments
other income
144
6.600
6.000
49.141
10.872
125
7,540
6,000
46,661
6.600
6.000
49,141
10.872
Total income
72.757
72,757
60,326
Expenditure on:
Raisirkg fvnds
Charitable activities
8,862
217,574
8,862
217,574
10,295
202,485
Total expenditure
226.436
226,436
212,780
Net expenditure before nèt losses on investments
Net losses on investments
1153,6791
{4,2101
(f 53,6791
14,2101
1152,454)
1138,188)
Nèt movement in funds
(157,8891
{157,889)
(290,642)
Reconciliation of funds:
Total funds brought forward
Net fTK)ven*nt in funds
2,1B9,332
1157,8891
2,189,332
1157,8891
2,479,974
P90,642>
Total funds carried forward
2,031,443
2,031,443
2,189,332
The Slalement of Financial Adiyities includes all gains and losses recognised in the year.
The notes on pages 10 to 1 S fomi part of these financial ststemenls.
Page 8

THE CONVENT OF THE SISTERS OF CHARITY- SERVANTS OF THE POOR
BALANCE SHEET
AS AT 31 DECEMBER 2023
Not
2023
2022
Fixed assets
Tangible assets
Investments
815,147
1.185.792
837,156
1,291,519
Current assets
Debtors
Cash al bank and in hand
2.000,939
2,128.675
2,876
32,444
9,514
56.103
35.320
Creditors.. Bmounts falling due wthin one
year
65,617
10
<4,8161
(4,9601
Net current ass•ts
30,$04
60,657
Total assets less current liabilittes
2.031A43
2.189,332
Net assets excluding pension asset
2,031,443
2,189,332
Totsl net assets
2,031,443
2,189.332
CharFty funds
Restricted funds
Unreslncted funds
2.031.443
2,189,332
Total tvnds
2,031.443
2,189,322
The ffinanclal statements were approved and authorised for issue by the Trustees and stgned on their behatf by..
ylc/V
The Reverend Mother M E Taylor
Dale: ..Y) C)LXc>ft&R ,In3u
The notes on pages 10 to 16 form part of thes$ financial statements.
Page 9

ThE CONVENT OF THE SISTERS OF CHARifY- SERVANTS OF THE POOR
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
GENERAL INFORMATION
The Convent of the Sisters of Charity - Servants of the Poor is an unincorporated charity. The prIn￿paI
office is 15 Cornwood Road, Ptymplon, PL7 IAL.
ACCOUNTING POLICIES
2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statemènts have bpen prepared in accordance with the chartti.es SORP {FRS 102)
A¢¢ounting and Reporting by Charities: Statement of Recommended Practce applicable to charities
preparing their accounts in accordance with the Finanual Repc>rting Stsndard applicable ill the UK
and Republic of Ireland IFRS 1021 (effective l January 2019), the Finanaal Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1 D2) and the Ch8rrties Act 2011.
The financial slatefflents have been prépared lo give a Irue 8nd fair, vlew and have departed from
the Charibes IAc¢ounts and Reports) Regulation$ 2008 onty to the extgnl requifed lo provide a 'lrue
and fair, view. This departure has involved following thé Charities SORP IFRS 102) published in
October 2019 rather than th6 Accounting and Reporb'no by Charities.. Statement of Recommended
Placlice eff8ctive from 1 April 2005 which has since been withdrawn.
The Convent of the Sisters of Charity - Servants of the Poor meets the definition 018 public bènefit
entity under FRS 102. Assets and liabililtes are inilialty recognised at hislorlcal cost or transaction
value unless otherwise stated in the relevant accountino policy.
2.2 GOING CONCERN
The Trustees have assessed the Statement of Financial Position and fikely future cash flows at the
dale of approving these finan(aal statefnents. The Trustees have a reasonable expetaation that the
Charity has adequate resources to continue in operational existence and lo meet its finaricaal
obligab.ons as they fall duè for at least 12 months from the dale of signing these fin8TFcial State￿Ents.
AccoTdingly, they continue to adopt the going concern basis in preparing the finanoal slalements.
2J INCOME
All income 1$ recognised once the Charity has eTrtitlement to the InGome, il is probable that the
income will be received and tho amount of income receivable ¢an b& measured reliabty.
The recognition of income from legaii8s is dgpendent on establishing entilement, the wobabilhy of
receipt and the ability lo estimate wllh sufficient accuracy the amount receivable. Eviden¢e of
entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left lo
them (thiough knowledge of thè existence of 8 valid will and the death of the benefactoi) and thg
exècutor is satisfied that the pioperty in question wll not be required to satisfy claims in the estate.
Receipl of a legacy must be recognised when it is piobable that it will be received the fair value
of the 8mounl rectrivable, which will generally be the expected cash amount to be distributed to the
Chaiity, can be reliably meas¢Jred.
Inco￿￿ tax r$coverable in re18tion to donations recelved under Gift ￿'d 01 deeds of covenant is
recognised at the tirn8 of the donation.
Income tax recover8ble in rfylalion to itweslnxnt income is Tecogni5ed at the time the investment
income is receivable.
Page fo

THE CONVENT OF THE SISTERS OF CHARITY- SERVANTS OF THE POOR
NOTES TO THE FINANCIAL STATEIAENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES {continued)
2.4 EXPENDITURE
EX￿ndIt￿le is recognised once there is a legal or con51ru¢tive obligation lo transfer economic benefit
to a third party, r( is probable that a transfer of economic beneffts wll be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is Glassified by activity. The costs
of each actNity are made up of the totsl of direct costs 8nd shared costs, including support costs
involved in undertaking each activity. Direct costs attributsblè lo a single activity are allocated directly
to that activty. Shared wsts which contiibute to moro than one activtty and 5UPPOrt costs whlch are
not attributable to a single activity are appoth.oned bfy￿een those activities on a basis Consistent bwth
the us8 of resources. Centr81 staff costs are 8llocaled on the batsis of lime spent, and depretiation
Charges allocated on the portion ofthe asset's use.
Expenditure on raising fltnds includes all expènditure incurred by the Charity to raise fvnds for its
charitable purposes and includes costs of all fundiaising activities events and non-charilable trading.
Expenditure oll charitable 8ctivitiès is inctsrr9d on directty undertaknng the activities which furthei the
chality￿ objectives, as well as any associated support costs
A¢1 expenditure is indusNe of irrecoverable VAT.
2.5 IlnEREST RECEIVABLE
Interest on funds hehl on deposit is in¢lud8d when re¢eivable and the amount can be measured
reli8bty by the Charity,. this is normalty upon nolificalion of the interest kydid oi p8yabl8 by the
in5tilution with whom the funds are deposited.
2.6 TANGIBLE FIXED ASSETS AND DEPRECIAnoN
Tangible fjxad assets costing £500 or more are capitalised and recognised when future economic
benefits are probable and the ￿$1 or value ofthe asset Can be measured reliably.
Tangible fixed assets are initialty recognised at cost. After recognits'on, und8r the c05t model. tsngible
)Ixgd assets are measured al cost less accumulated depre(aation and any accumulated impairment
losses. All costs incurred to bring 8 tsngible fixed asset into its int&¥tded worknng condib.on should b¢
included in the measurement of cosL
Depreciation ts charged so Ss to allocate the cost of t8ngible fixed assets tess their re5￿Ual value
ovei their esb'maled useful lives.
Depweaation is provided on Ihe following basts.,
Freehokl property and
improvements
Fixtures, fjtttngs and equipment
2.7 INVESTMENTS
2Q/D and 10% straight ￿ne
250A reducing balanc
Fixed asset investments are a fomi of finanL?al instrument and arè initialty recognised at theif
transaction cost and subsequently measured al fair value al the Balance Sheet date, unless the value
13nnot be measured reliab￿ in which case it is m6asured at cost less impairmant. InvesbYEent gains
and losses, whether realised or unrealised, are combined and presentwj as 'GainsllLosses} on
investments. in the Stslement of Financial Activlties.
Page11

THE CONVENT OF THE SISTERS OF CHARITY- SERVANTS OF THE POOR
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES {continued)
2.8 DEBTORS
Trade and other debtors are ￿Cognised at Ihe 5etdement amount after any trade discount offered.
Prepayments are valued at the amount prepaid nel of any tr8de discounts due.
2.9 CASH AT BANK AND IN HAND
Cash ot bank and in hand indudès cash and short-lèrm highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar accounl.
2.10 LIABILITIES AND PROVISIONS
atrxfits'es are recognised when there is an obligation at the Balance Sheet date as a result of a past
evènl, rt Is probabla that a transfer of ecoT7omi¢ benèfit w%ll be requiTed in settlement, and the amount
of the settlement can be estimated reliabty.
abilities ale recognised at the amoulrt that the Charity anticipates it wll pay lo settle the debt or the
amount it has received as advanced payments for the goods or sewices rt must provide.
Provisions are measured at the best estimate ot the amounts iequired to settle the obligation. Where
the effect ofthe ts'm8 value of money is mater¢el, the provision is based on the present value ofthosg
amounts, discounted at the pre-tax discLiunt rate that reflècts the risks specific to the liability. The
unwindinD of the discount Is recognised in the Slatemènt of Finan￿81 Activitie5 as a finance cost.
2.11 FINANCIAL INSTRUMENTS
The Charity has finanaal assets and financial liabilify'es of a kind that qualrfy as basic financial
instruments. Basic financial instruments are initially recognised 31 transaetr.on value and stsbsequently
measured at Ihgir settlement value with the exception of bank loans which are subsequently
measured al arrK)Ttised txjst using the effective inleiesl method.
2.12 PENSIONS
The Charity operates a defjned conlrlbution pension scheme and the pension chargè repres•nts tho
amounts payable by the Cltaity lo the fvnd in respect ofthè year.
2.13 FUND ACCOUNTING
General funds ar& unrestricted funds which are available for use at the discretion of the Trustees in
furtheranctr of the genefal objectives of the Charity and which have not been designated for other
purposes.
Investment income. gains and losses are allocated lo the appropriate fund.
Page 12

THE CONVENTOF THE SISTERS OF CHARITY-SERVANTS OF THE POOR
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
ANALYSIS OF EXPENDITURE BY ACTIVITIES
Activttios
undertaken
directly
2023
Total
funds
2023
Totsl
funds
2022
Convent and retreat
217,574
217.574
202,485
ANALYSIS OF DIRECT COSTS
Total
funds
2023
Total
funds
2022
Stsff costs
Deprecialion
Light. heat and water
Insurance
Garden supptt'es and èxpense5
Housekeéping, piovisions, clothing and heatthcare
Travelling and vehicle expenses
Nur￿ng home fees and fvneral Costs
Donations
Mis￿lIaneOUS
AccoLtnt'ng s•rvice$
8ank charges
Governance Costs
(Profitllloss on disposal of fixed assets
118.821
27.569
10,374
5,184
4,886
4A79
353
16,664
5.730
4.Z05
117,070
30.055
8,232
4,728
3,712
6,654
224
15,704
5,833
3,700
li
8,527
278
12.484
20
3,502
334
8,737
217.574
202,485
INDEPENDENT EXAMINER'S REMUNERATION
2023
20
Fees payable to the Charivs independent exarFNner for the independenl
examination ol the Charitys annual accounts
4.800
4,800
Paga13

THE CONVENT OF THE SISTERS OF CHARITY- SERVANTS OF THE POOR
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
STAFF COSTS
2023
2022
Wages end salaries
Social security costs
Contribution lo defined contribution pension schemes
112,244
5.704
873
102,860
764
118,821
111,070
The average number ol persons employed by the Charity during the year was as follows..
2023
2022
No.
Convent and retreat
No amployee recèived remuneration amounting to more than £60.000 in either year.
AII Trnstees and certain senior employees who have authority and reSPDnsibility for planrking, directing
and Controlling the a¢tivities ol the Charity are considered to be key management personnel. Totsl
remuneration in Tespect of sonlor employees is £8,798 (2022 £12,374). As detailed in note 6 of the
finanual slatemenls, the frustees do not receive any remuneration in their role as Trustees.
TRUSTEES. REMUNERATION AND EXPENSES
During the year, no Trusteès ieceived any remuneration or other benefits12022- £NILI.
During the year ended 31 December 2023. no Trustee expenses have been incurrod {2022- £NILI.
One of the Trustees al the yoar end Is Professed Sistors of the Community and is resd8nt in and
maintained the Community as is customary and nècessary for the performan¢9 of thgi¥ duties in
caryy.ng out the objeGts of the Charity.
Page 14

THE CONVENT OF THE SISTERS OF CHARITY- SERVANTS OF THE POOR
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
TANGIBLE FIXED ASSETS
Freehold
Fixtures.
property and fittings and
improvements
equipment
Total
COST
At 1 January2023
Additions
Disposak
886,364
5,$80
55.SSO
941,914
5,580
180)
{80
Al 31 Dgcember 2023
891.944
55A70
947.414
DEPRECIATION
At 1 January 2023
Charge for the year
On dispx)sals
BS,678
18.454
19.080
9,115
(801
104.758
27￿69
{60)
Al 31 December 2023
104.132
28,135
132,267
NET BOOK VALUE
At 31 December2023
787.812
27,335
81S.147
At 31 December 2022
800,686
38,470
837,156
FIXED ASSET INVESTMENTS
Other fixed
L¥sted
asset
jDvestments inygstments
Total
COST OR VALUATION
At 1 J8nuary 2023
Additions
C4'5posals
Revaluations
1,273,801
180,783
(297.7661
{6A521
16,383
18,943
1.290,184
199,726
1297,7661
16.3521
AT 31 DECEMBER 2023
1.150.466
35.326
1.185.792
Page IS

THE CONVENT OF THE SISTERS OF CHARITY- SERVANTS OF THE POOR
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
DEB TORS
2023
2022
DUE MTHIN ONE YEAR
Other dèbtQTS
Pr&payments and accrued income
224
2,652
224
9,290
2.876
9,514
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Other tax8tion and soual security
Pension contributions outslandlng
Accruals 8nd deferred income
2.138
278
2.4QO
2,302
258
2,400
4.816
4,960
FINANCIAL INSTRUMENTS
2023
2022
FINANCIAL ASSETS
Financial assets measured at fair value through income and expenditure
1,1S1.801
1,275,136
Finandal assets measured at falr value through income gnd expendiknre Comprise market value ol listed
investments.
12. PENSION COMMrrMEKrs
The group 0￿rateS a defined contribution pension scheme. The assets of the scheme are held separately
from those of the group in an independently administèfed fund. The pension cost charge represents
contributions payable by the oroup to the fund and amounted lo £278 {2022 £2581 were payable to the
nd al the balance sheet dale and are included in ¢reditotS.
P8ge 16