CHARITY REGISTRATION NUMBER: 219835 The Handmaids of the Blessed Sacrament and of Charity Unaudited Financial Statements 31 December 2023 Chartered accountants Camburgh House 27 New Dover Road Canterbury Kent CT13DN The Handmaids of the Blessed Sacrament and of Charity Financ5al Statements Year end•d 31 December 2023 Paga Trustees, annual report Independent examinerfs report to the trustees Statement of financial activities statement of financial position Notss to the financial ststements The following pages do not form part of the financial statements Detailed statement of financial activities 14 Notes to the detailed statement of financial activities 15 Pago 1 The Handmaids of the Blessed Sacrament and of Charity Trustees, Annual Report Year ended 31 December 2023 The trustees present their report and the unaudtied financial slalements of the charity for the year ended 31 December 2023. Reference and administrative detsils Registered charity name The Handmaids of the Blessed Sacrament ancl of Charrty Charity registration number 219835 Principal office Hunters 9 New Square London WC2A 3QN The trustees Sister Doly Mathew Sister Mary Chennattu Joseph Sister Felicidad Ruiz Munoz Accountants Burgess Hodgson LLP Chartered accountsnts Camburgh House 27 New Dover Road Canterbury Kent CT1 30N Structure. governance and management The governing document is a Dèclaration of Trust dated 27th November 1959. On 4th April 199S the Charity Commissioners granted a Certificate of Incorporation of the Trustees of the Charty under the name The Trustees of the Charity of th9 Handmaids of the Blessed Sacrament and of Charity. Objectives and activlties The Charitys objectThies as defined in the governing document are= to pay or appty the trust fund or the income thereof for such charitable purposes ￿nnected with the Roman Catholic religion as the Iruslees shall from lime to limg or al any lime with th$ consent of the Reverend Mother think fiL Publlc Beneflt WÈ rèfer to the Charty Comrnission's general guidance on public benefrt when reviewing our aims and objectives and in planning our future activitses. Achievem8nts and p9rfornian¢e The Mother House of the Order is in Spain and the Sisters, convent (Adoralricesl al 38139 Kensington Square is one of many houses throughout the wodd. Th& sisters have established a hostel consisting of nineteen rooms with a total of fv4enty beds, lo help create a secure, safe and mutually supportive environment for individual development. a home away from home. Page 2 The Handmaids of the Blessed Sacrament and of Charity Trustees. Annual Reportlcontinued) Year ended 31 December 2023 Financial review The actrniities during the year resulted in a decrease in funds of £39,99312022: an increase in funds of £20.9651. The funds at the year enca were £786,35212022.' £826,345). Res8rvgS The Trust's reserves at the yearend tolalled £89,869 12022.. £111,386) which is affived al after removing the valuo of the functional property and ils fittings. There are no restricted or de5vJnaled funds. The Trustees ¢onlinued to maintain resèrves during the period appropriate to meet the future charitable objectNes of the charity, wth the aim of maintaining the fund to enable the charity to continue lo prov(de hostel servres. The charity maintains suffi'cient free ￿serveS l&xcluding the functional PTopertyl to provide continurty of the chartys objects for at least 6 months without receNing any additional income. The chanty is dependent on its functional propety in Kensington and any unforeseen damage to this propety. such as a fire, represents the largest risk to the chartys ability to continue operations. The TTUStees ensure that the property is adequately insured in Ihe event of any such catastrophe and the levels of insurance are reviewed on a regular basis. The Trustee's believe the charty has Sufficient reserves lo sustain the charty for at least 6 months. Plans for futurg periods Adoratrices The Tiustees plan lo continu& provbjing hostel services al the AdOratr￿&S Convent for the foreseeable future. The Rahab Project The Trustees have Maintain￿ their support by the payment of donations to The Rahab Project which is an independent registered charty. The regular donations have in part been used to support the project manageff s salary dUr1r￿ the year, who works to fu￿11 the charitys objectives of bringing relief to women in need by reasDn of social or economic disadvantage,. in particular those al risk of, involved in or affected by sexual explotslion. Consent of the donations to The Rahab Project was gsven by the appmal of the Trustees of Handmaids of the Blesserl Sacrament and of Charity in accordance with the Chartys objects. The core activities.. Communty engagement.. Outreach weekty welfare visits to the women where they work, prisons. immigralDn detention ￿ntre$ Micaeta's Home - temporary safe accommodation for women in ¢risi$ or Iransilion, where they can experien¢e'everyday lrfe, whilst receiving pradical and emotional support towards independent living. The Charity has delivered a more inlegfated, fkxible approach for women to be able to trans￿On between the different types of support they need relative to their individual circumstances and choices. The Trustees provide both financral and hurnan resources to continue the mission of Adoralrices. They are happy with the progression of Rahab Project and have agreed lo maintain their support into future. Pagè 3 The Handmaids of the Blessed Sacrament and of Charily Trustees. Annual Report fLw¢inuedJ Year ended 31 December 2023 TrusLe8S' responsibiliti8s statement "J¥19&5 are responsibte for preparing the trustees. report and tha financiat statements in CC wth applicable law and United Kingdom Ac£ounling Standards IUnf(ed lfjngdom Generally ee Accounting PTactÈce). ¥ applicable to charities in Englarxl and Wales requires the charity Irustees to prepare flnancial :4.e-, .enls lor each year which give a true and f&r view of the state ol of the chanty and of the -1. Iyh g resources and application of resources, of the charty tor Ihat period. ,'n o". 9garing these fSnancial statsments, the tru51ees are required to: >g',eci suitab18 accounting policies and then apply them consistenly. obseNA the methods and prinOes in the akwicable Charrhes SORP. make judgments and accounting eslimates that are reasonable and prudent" stale whether appkncable UK Accounting sL￿dards have been followed, subject to any material departures disclosed and explained in the finanad statements; prepare the financtal statements on thg gotng concem basis unless rt is inappropriato to presume that the charitywill ￿ntinue in busin8SS. I he trustees are responsttile for keeping adequate accounting records that are sufficient to show and explain the charivs tratbsactFons and disclose with reasonable accuracy al any lime the financial position ol the charity and enable them to ensure that the linancial statements Comp￿ wth the Chartties Acl 2011, the at411icable Charities (Accounts and Reports) Regulatsons. and Ihe prowsions of the Trust Deed. They are also responsible for safeguarding the assets of the chwity and hence lor taking reasonable s* for the prevention and detection of Iraud and other irregularrties. The trustees. annuai report was aForoved on l.&../.I d /A4..-... and signed on tehaif of the board of trustees by= Sister Doly Mathew Trustee Sister Ma Trustee Chennattu Joseph Page 4 The Handmaids of the Blessed Sacrament and of Charity Independent Examinerfs Report to the Trustees of The Handmaids of the Blessed Sacrament and of Charity Year ended 31 December 2023 I report lo the trustees on my examination of the financial slalefflents of The Haftdmaids of the Blessed Sacrament and of Charity {'Ihe chariVI for the yèar ended 31 December 2023. Responsibllities and basls of report The charthi's Iruslees are responsible for the p￿paratIon of the financigl statements. The chartys ITuslegs consider that an aud(( is not required for this year under section 144121 of the Charf(ies Act 2011 Ilhe 2011 Actl and that an independent exarninalion is needed. It is my responsibility lo.. examine the accounts under section 14S of the 2011 Act., to follow the procedures laid down in the general Directions gwen by the Charity Commission under section 14515llb} of the 2D11 Act., and lo slate whether particular matters have come lo my attention. Basis of Independent examlner's report examination was carried Olrt in accordance with the General Directions gNen by the Charty Commissioner. An examination includes a review of the accounting rewrds kept by the charty and a comparison of the accounts presented with those records. 11 abso includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trusteès conceming any such matters. The procedures undertaken do not provide all the evidence that would be requirecl in an audit and, consequenlty no opinion 15 given as lo whether the account5 present a 'lrue and fair wew, and the report is limrted lo those matters set out in the statement below. Independent examinerfs Statement In connection with my examination. no matter has come to my attention- 111 which gives me reasonable cause to believe that in any material respect the requirements= lo keep accounting records in accordan￿ wth section 130 of the 2011 Act,. and lo prepare accounts which accord with the accounting records ènd comply wrth the accounting requirements of the 2011 Art, and the Re9ulalions have not been mel, or 121 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts lo be reached. Colin Reid FCA Independent Examiner Camburgh House 27 New Dover Road Canterbury Kent CT13DN Pago 5 The Handmaids of the Blessed Sacrament and of Charity statsment of Financial Activltles Year ended 31 December 2023 2023 Unrestricted funds Total funds Total funds 2022 Notè Incomo and endowments Don*i¢ns and legacies Investrnenl income Other income 217,926 565 12,101 230,592 217,926 565 12,101 230.692 160,989 55 1,270 162.314 Totsl Income Expgndlturg Exp¢nditur• on charil•bl& activf(i&s Total expendlture 270,585 270,585 270.685 270,585 141,349 141.349 Ngt lexpendlturevlncomo and net mov•mont in funds 139,9931 (39.9931 20.965 Reconciliation of funds Total ftjnds brought forward Total funds ¢arriod forward 826,345 786,352 826.345 786.352 805,380 826,345 The $lalem•nt of financial •¢tMties includes all gain$ and losses reccgnised in the year. All income and expgnditufg derive from continuing actmties. The notes on pages 7 to 12 form part of financlal 8tatsrnont•. Page 6 The Handmaids of the Blessed Sacramenl and of Charity statement of Flnanclal Posltlon 31 Decembor 2023 2023 2022 Flxed assets Tangibla fixed as$ets 14 696,483 714.959 Current assets Cash at bank and in hand 194157 224,178 Credltors: amounts lalllng due vjithln one y Nèl ¢urrent assets 15 103288 112.792 89069 111,386 786￿52 826.345 781352 826.345 Total assets less ￿rrent Ilablli11oS Net asgftt8 Funds of the charlty Unrgstrictod funds 786￿52 786,352 826,345 826,345 Total charlty lunds 16 These financial ststements were approved by the l)Dard of trustees and authoriwl for kssue on ..ii/i.¢./&gA.., and are signed on behalf of the bwd by: Siste Trustee olymathew Sistgr Mary C Trustee ennattu J￿•ph The notes on pag•s 7 to 12 forn partot Itnaneknl st•i•mants. Page 7 The Handmaids of the Blessed Sacrament and of Charity Notes to the Financial Statements Year ended 31 December 2023 General information The charity is a public benefrt enlty and a registered chartty in England and Wales and is unincorporated. The address of the registered office is Huntèts, 9 New Square, London, WC2A 3QN. The principal place of business address is Adoratrices Convent. 38139 Kensington Square, London, W8 SHP. Statement of compliance These financial slalements have beèn prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recornmended Practice applicable to charities preparing their accounts in aceordanee wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Charities Aet 2011. Accountlng policies Basis of prèparation The financial Statements are presgntgd on an accruals basis. The financial statements are prepared in slerSing. which is converted from euros which k% the fLinctional currency of the entty. Going concern The trustees have considered the potential business impact of the events in Ukraine with particular reference lo how these may disrupt their business model, strategy and operations. The members arè satisfied that these reviews showed no material risks to the business and conclude that the financial statements should continue lo be prepared on a going concem basis. Overall, the trustees are satisfied that the revw showed no material risks to the business and conclude the financial statements should continue to be prepared on a going concem basis. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management lo make judgements, estimates and assumptions that affect the amounts ￿pOrted. These estimates and judgements arè continually reviewed and are based on èxperience and other factors. including expectations of future events that are believed to be reasonable under thè circumstances. Fund accounting Unreslrieted tunds are available for use at the discretion of the tru$tee5 to further any of the ¢harty's purposes. Designat8d fund$ are unrgslri¢led funds earmarked by the trustees for particular future proje¢l or ¢ommitment. Restricted funds are subjected to reslriclions on their expenditure declared by the donor or through the temis of an appeal, anrj fall into one of ￿ sutrKlas$es.' wtri¢led inwme funds or endowment fijnds. Page 8 The Handmaids of the Blessed Sacrament and of Charity Notes to the Flnancial Statements [conbnuedJ Year ended 31 December 2023 Accounting policies (t¢)nrfJ7utsd) Incoming resou￿9$ All income is included in the statement of financial activities when entitlement has passed to the charty, it is probable that the economic benefrts associated with the transaction will flow to th charity and the amount can be reliably measured. The following specrfic policies are applpd to particular categories of incom&'. income from donations or grants is recognised when there is evidence of entitlement to the gift, ¢eipl is probable and tts amount Can be measured reliabty. income from hostel contributions is recognised on receipt. legacy inwme is wognised when receipt is probable and entitlement is eslablllshed. in¢ome from don81ed goods is measured at the fair value of the goods unless this is impractical lo measure reliabty, in which case the value is derivèd Irom the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when receivecl rf the vglue can be reliably measured. No amounts are included for the Contribution of general volunteers. - income frgm contracts for the suppty of servi￿5 is re¢o9ni5ed with the delivery of thè eontracled service. This is classified as unrestricted funds unless there is a contractual requirement for il lo be spent on a pa￿.¢￿lar purpose and returned rf unspent, in whi¢h il may be regarded as restricted. R&sources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expendrture includes any VAT which ¢annol be fulty recovered, and is ¢lassrfpd under headings of the statement of financial a¢livrf(ies to which il relates.. expenditure on raising funds includes the costs of all fundraising actwilies. events, non- charitable trading activtties, and the sale of donated goods. expendliure on charitable actwities includes 811 costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable actwitie5. other @xpenditure includes all expenditure that is neither related lo raising funds for the chanty nor part of ils expenditure on charitable activities. All costs are allocated to expendrture categories reflecting the use of the Tesource. Direct costs allributable lo a single activity are allocated directly lo that actniity. Shared costs are apportlDned b&￿een the actN((ies they contribute to on a reasonable, juslffiable and con$islenl basis. Tangible assets Tangible assets are Initial￿ recorded al cost, and subsequentty stated 81 cost ￿s$ any accumulated depreciation and impaiment losses. Any tangible assets ¢arried al revalued amounts are recorded at the fair value at the dale of revaluation any subsequent accumulated depreciation and $ubsequenl accumulated impaimenl k)sses. Page 9 The Handmaids of the Blessed Sacrament and of Charity Notes to the Financial Statements (cort￿￿￿ Year ended 31 December 2023 Accounting policies (COlJtinuedJ Depreciation Depreciation is calculated so as lo write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as folk)ws.' Freehold Propgty Fixtures and Fittings Equipment IVD slrapjht line 7YD reducing balance 1 ODA Teducing balance Impaimient of fixed assets A review for indicators of impairment is carried Dut at each reporting dale, with the recoverable amount being eslimaled where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impaim)enls are also reviewed for possible reversal at each rgporting date. Flnancial instruments Financial liabilrties and equty inslnjments are classified according to the substance of the contractual arrangements entered into. Debtors and ereditors with no slated interest ralè and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profil and loss account in other admini$lratNe expenses. Loans and borrowngs a￿ initialty recognisecl at the transaction price including transath.on costs. Subsequentty, they are measured al amortised cost using the effective interest ralè method, less impaimienl. If an arrangement conslilules a finance transaction il is measured al present value. Donations and lega¢ies Unrestricted Total Fund$ Unrestricted Total Fund5 Funds 2023 Funds 2022 Donations Hostel contributions General Donations arid Donations in respect of pensions Communty In¢ome 166.449 166.449 143,297 143,297 18.677 32.800 18.677 32,800 217.926 17,692 17,692 217,926 160,989 160,989 Investment in¢ome Unrestricted Total Funds Unrestr¢cled Total Funds Funds 2023 Funds 2022 Bank interest receivable 565 565 55 55 Pagg 10 The Handmaids of the Blessed Sacrament and of Charity Note5 to the Financial Statements (tonlrnued) Year ended 31 December 2023 Other income Unreslricled Total Funds UnTestricted Total Funds Fund5 2023 Funds 2022 other income 12,101 12,101 1,270 1,270 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Provision of hostel & support services Donations in support of the charitable objectives Rahab project Support costs 169,279 169,279 101,814 101.814 46,181 10,000 45,125 270,585 46,181 10,000 45,125 270,585 471 10.000 29.064 141.349 471 10.000 29.064 141.349 ExpenditUTe on charitable activities by activity type ActNities undertaken directly Support costs Total funds 2023 Total fvnd 2022 Piovision of hostel & support services Donations in support of the charitable obje¢lives Rahab project Govemance costs 169,279 31,360 200,639 126,253 46,181 10,000 9,6QS 55.786 10.000 4,160 270.5B5 471 10,000 4,625 141,349 4,160 45,125 225,460 Anaty$is of support costs Hostel other Total 2023 Total 2022 Communications and IT General offi Financè costs Govemance ctssls offi￿ expenses Depr¢cialion Sundry Expenses Motor expènses Bad debts written off 988 2,528 47 4.16Ct 427 18.476 2,126 6,768 988 2.528 47 4.160 427 18,476 2.126 6.768 9,605 45,125 721 2,002 236 18,209 523 2,748 9,605 9,605 ,520 24,439 Pa9e11 The Handmaids of the Blessed Sacrament and of Charity Notes to the Financial Statements (continy¢dJ Year ended 31 December 2023 10. Net lexpenditurellincome Net lexpendilurellincome is slated aftgr ¢hargingllcr&ditingl-. 2023 2022 Depreciation of tsngible fNed assets 18.476 18,209 11. Independent examination fees 2023 2022 Fees payable tD the independent examiner for.. Independent examination of the financial statements 2,514 2.100 12. Staff costs The average head count of employees during the year was 312022.. 4). No employee rec@ived employee bengfrts of more than £60,000 during the year (2022.. £Nil). 13. Trustee rernuneration and expenses No remuneration, benefits from employment or expènses were paid by the charity or a related entity lo the trustees. 14. Tangible fixed assets Freehold Fixtures and Propety Fittings Equipment Totsl Cost At 1 January 2023 and 31 December 2023 1,113.325 52,233 56,848 1,222.406 Depreciation Al 1 January 2023 Charge for the year At 31 Decembèr 2023 427.853 13.900 42,231 1,827 37,363 2,749 507,447 18.476 525,923 441,753 44,058 40,112 Carrying amount At 31 December 2023 671,572 685,472 8,175 10,002 16,736 19,485 696.483 714,959 At 31 December 2022 15. Créditors: amounts falling due within one year 2023 2022 Accruals and deferred income other creditors 3.572 99.716 103.288 4,700 108,092 112.792 Pag• 12 The Handmaids of the Blessed Sacrament and of Charity Notes to the Financlal Statements (conLTnu•dJ Year ended 31 Decèmber 2023 16. Anatysb of charitable funds Unr•gtrict•d fun