SOCIETY OF SISTERS OF BETHANY IANGLICAN RELIGIOUS COMMUNITY Registered Charity 226582 REPORT OF THE TRUSTEES & FINANCIAL STATEMENTS For the Year Ended 30th June 2022 SOCIETY OF SISTERS OF BETHANY (Anglican Religious Community) REPORT OF THE TRUSTEES & FINANCIAL STATEMENTS For the year ended 30th June 2022 COPUENTS PAGE Report of the Trustees Independent Examiners Report Statement of Financial Activities Statement of Financial Position 10 Notes fomiing part of the financial statements 11-16 SOCIETY OF SISTERS OF BEfHANY (Anglican Religious Communlty) REPORT OF THE TRUSTEES & FINANCIAL STATEMEKrs For the year ended 30th June 2022 Report of the Trustees sitentlum et Spes - In Quletress and Confidence, Let us pray to the Lord. The Tfustees present their report aknng v*th the financial sL3tements of the chafity for the year ended 30th June 2022. The Financial statements have been prepared based upon the actounting pdioes set out In note 1 to the financial statements and comply wth the Chari￿s tTUSt deed. The kniety of the Sisters of Bethany is a ¢harity registered with the Charity Commisson under registration number 226582. Legal and admlnlstratlve Infomwllon Trustees Revd Mother Mary Irene Dodman Sister Rita-Elvzabeth Woolston Revd Paul Armstead {Lay member) Jacqui Redstone (Lay member) Prlncipal Address House of Bethany 7 Nelson Road Soulhsea Hampshire P05 2AR Indwndent Examinèr Martin K Housden FMAAT. 13 Guitdford Avenue. Fellham. TW13 4EN Prlnclpal Bankers National Westminster Bank plc, 130 Commercial Road, Portsmouth, P01 IES SollcltorJ BOB Pitman Solicitors, 1 Bartholomew Close, London EC1A 7BL (incorporating Portrait Solicitors following a merger during the year) Invèstment Managers BarGlays Investment Solutions Limtted, 1 Churchill Place. Canary INharf, London E14 5HP SOCIETY OF SISTERS OF BETHANY (Anglican Religious Community) REPORT & FINANCIAL STATEMENTS Forthe year ended 30th Jung 2022 Report of the Trustees (continu•d StTUCture. Govemance and Management Trustees and oryanisational slnKtur• The trustees who held office at the date of th￿ re[￿rt are set oth on page The trust deed allows for up to five trustees to be appointed with a minimum of three. Truslees a￿ appointed by the General Chapter of the Community by directing that the Mother Superior gives effect lo the appointment of the new trustee. Trustees continue in office until they resign or become incapable of acting as a trustee. When new trustees are appginted they are given an introduclion to the work of the trust and provided with the infomation they need lo fulfil their roles, which includes information about the role of trustee5 and charity law. Each trustee attends the meetings held at least three times a year unless there is good cause for absence. The ChaTity's Administrator is responsible for the day-tQ-day oper*ion of the Charity finances and manages the Communrty Accounts in conjunction with the Accountant and the Mother Superior. Rl$k Alan•gem•nt All signrficant activitiés undertaken are subject to a risk revi￿ as part of tho inth'al proie¢l a88essment and implemenlalion. Major risk8 are identified and ranked in torms of their potential impact and likglihood. Major rl8ks, for Ihls wfrK¢se. are those thal may ha¥* a 8ignffj￿nt effKI on.. Opératsonal performanc8. induding risks lo our residents. pwsonnel atxl ￿￿10￿. Athievement of our aim$ and obiectives." or Mgeting the 9Xp￿￿tIOnS of our benefi(iaries or 5uppwtsr8. The Iru81ees rewew these risks on an on￿ing basis and satisfy thgmsehes that 8dequate systems and procedures are in place to managg thg risks idgnlified. Whfr￿ appropriate. risks are rnvered by in5uranc&. Tho following framework is c*ntr811o en5urir￿d 8dequate risk 888uraTKe.' Regular monitoring of maior ri$k$ and development of action plans., embedding risk identrfi¢alion and assessment within operating procedures- clear structure of delegated authority and control.. reviw of key systems and Pfocedures.. m8intsining reserves in line wth set poliaes; and r8gul8r summary reports on risk management to the TNstO8S. In assessing risk our trustees recognise that some aw8 of our work require the aceeptsnc* and management of risk ifour key ObA￿tiveS are to be achieved. SOCIETY OF SISTERS OF BETHANY IAngli¢an Religious Communltyl REPORT & FINANCIAL STATEMENTS For the year ended 30th June 2022 Report of the Tru8tt8s {continuedl Obj•etiv•s andActivilies The communty was founded by Etheldreda Anna Benett on 5 Cktobef 1B66. It is consb"tuted under a trust deed dated 22 September 1871 las amended on 13 December 1996) and by a scheme sealed on 10 November 1997. 11 is registered as a charity with the Chanty Commisson the object of Ihe advancement of religion and for general charitable purposes for the poor and aged.. According to the Ststules the object of the Society is Ihat the Professed Sisters, that is the full membèrs of thè Communty. the No*ices and Postulants may live together by Rule as one Society Iconneded wth and forming part of the Church of England) in the Mother House and in such Houses as are. or may be, established from time to b"me. During 2021 a new Religious Communities Regulations came into force forthe Dire¢tory of Religiojs Life and all Religious Communities weTg registered. Sharing a common call with all membets of the Christian Church the members of the Community believe that they have a particular call lo live in Communty, as Sisters of Bethany. under the voNv3 of povety, Chastity and Obedience. Bound by these vows they desire lo give glory to God by seeking, in the power of this Spirit, to know Him, to love him and lo do his will in a life of faith centred in V*Drship #nd eXp￿sSed in seryice of our fèllow human beings. They pray daity for the unity of all Chrisllans and endeavour to share *ilh Christ in his V•Drk of recondling the world to God., ASSOCIATES: founded in 1867. They are men and Vlvmen called by God to a life of prayer that is united with the Sistefs of Bethany. A body of close friends of drffeienl Christian denominalons. ages. lrfestyles and backgrounds all are accepted as meM￿r$ of our extended family. Livlng in their oNvn homes A$8ocia¢es adopt o Simple rule ol lrfe that is the expression of a shared concem lo love and serve God and one another after the example of Mary. Martha and Lazarus. Each Rule of Lrte Is different and 1$ tallored to suit eath Associate's personal ¢ircumstsnces. Life changes can mean that changes to the Rule also become necessary. The Ass(xiates' Sister helps them to both C￿ate and adapt their Rule as needed. We treasu￿ If* love, support, sympathy and prayers of these fn'ends Nthom we a￿ so closely united. Many flnd Strength and support in such a relab"onship wlh the Community and one another. Two As%)ciates' Festivals a year give the Sisters and Associates a thance to meet up and share news both old and new friends. We share in our4￿rShip too in Ihe Eucharist ano Vespers. Ideas and news is shared- all of this encourage(I by plenty of good foodl An Assoclates Day ￿d$ hekl in May on a beautiful sunny day. though only thirteen ASso￿aleS altended. The Associates who live on the Isle of have fomied a ¢•ll gmup vthich meets several time$ a year. As at July 2022 there seven Associates and one enquir¥r. As8oaales each have a copy of the Assw"ate$' offi￿ Book arKI a￿ encoura9ed to say at least one Offiee a day in union with the Sisters a$ y￿1 as a shared commthentfor intewsory prayer. They also share our particular burden of prayer for the Unity of the Church. An annual A5s0c¢ates' retreat took place eath year unlil 2020 vthen k>ckdovm due to the Cowd pandemic caused it lo be cancelled. These were nomially held at Aton Abbey. Associates a￿ also again ab￿ to join the Sisters in their retreats ￿lce yearfy al the converrt. OBLATES: were founded in ￿spOnse lo a request from a group of Associates who felt 3 call from God to a closer association wth the Sister5. In September 2014 seven N0￿ce Oblates V￿re admrtte(I la mixed group of men and women) for a period of discernment and explorab"on. A paltem of 'Oblate5 Day5, have started to take place again three orfour b'mes a year, at firsl al Portsrnouth Cathedral and now back at the House of Bethany. 'Sludy Days, have not yet restarted, which were conducted by one of the Oblates. In di$￿ssion with the Novi¢e Oblates an Oblate Rule was prepa￿d which closely matches the Rule of the Sislers, slighfjy modified lo suit the circumstances of lay people. Oblates differ from Asso¢rales in Iheir commitinenl to that Rule which is common to all the Oblates. rather than one of their own devisrng. Some Oblates are in a posib'on to offer practical help on a regLJlai basis ￿ can make themselves available to undertake occasional duttes to help the Sisters. It ss antrcipated that after at least one year Én formab.on a Nowce Obl*e mighl request considerab.ors for Profession. Five Novice Oblates are currenlly in lormatson and nine have made their Professton of vows. SOCIETY OF SISTERS OF BEfHANY {ATrglican Religious Community} REPORT & FINANCIAL STATEMENTS For the year ond•d 30th June 2022 Report of th? Trustees l¢ontinuedl A¢tlvltles. Achievements andPerf0M￿nc• The woth of this Communty has ahvays been prayer for the unty of the Churth, hospitality and retreat work. On eithèr a r8sidèntial or a daily basis the retreat (xeates space for people indmdualty ￿ in group$ to stsnd back from iheir daily lives and be with Gotl in a quiet and prayerful almosphwe. Sisters usualty undertake study courses to enable them to h8lp others and to enrich theirown li￿. They a150 attend conlerences which bring them in contact wilh other Communrfi"ès. Conferent￿S that bring them together with the Officers in other Communities enable the sharing Ihe wbsdom amon9$1 parD"cular groups such as the Leaders, Bursars. Novice Guardians. Novices and Fifst Prolessed members. Unfortunately, all these have been cancelled during the two years of the Pandemic although some of the cOnferen￿S and events which Sisters attend have occurred via zoom. Sisters have been represenled at ihe Society ol Catholi¢ Priests. Retreat House leaders- as well as local courses run by ihe DiocEse for Safeguarding and Domesb"c Abuse., a Spiritual Direction course attended by the Junior Professed Sister was dis￿n11nUed in March 2020 due to the Pandemi¢ bul o)ntinued via Zoom in Spring 2021. An ecjjmenical Confere￿ for Senior Re1￿lOuS was cancelled in both 2020 and 2021 and in 2022 was rescheduled at a lime the Communty ¢ould not join in. Many ol the conferences a￿ ecumenical. One Novice was Professe(J in Septembèr 2019; another NovFce was in her second year but left in mid-2021 exacerbated by the Pandemic lockdown. They both attende(I the joint fornation cnurse which meets lor a week thr88 lime8 a year., again thesa have been suspended due lo the Pandemic. On attemate years an inlemalional intel- dgnomlnallonal conference of Religious is aitended. Two Postulants ha￿ al80 attended these Inter-Nowtiat8 Study P8riods. Ong Si$ler w8$ Singing in J ChuT(* Ch￿1 thal it d¥J Th)t interfere with Ihe p￿NIty of th8 Prayer life of th& Communty and this has restarted when dLrtiès wiihin tha Hous¢ allow. 0￿510n31 visits to IoGal schools and Chaplaincy dutie$ al Ihe Cathedf81 are unsyertaken pnor to the pand8mic. bui are at present still on hold. Reverend Moth•r r¥presenls the Commvnty on Diocesan Synod, and attends Dtranery Synod and Deanery Clustor meetings. These have continued wa Zoom Since March 2020 and now again in person. The bcal Deanery CIust8T ministers formed themselves into a College of ministers under a ojmmon Rule of Life of whi¢h the Sistèrs of Bethany are the custodians and point of Teference. The Sisters We￿ also ￿presented on the ecum¢niGal fralemal of local ministers but that has not yel r•start8(l $in¢o the p8fKlemic. We have a strong link with a Communty which Mother Rita-Elizab8th bggan by mentoring and ￿ntinUeS to do so. although now'oul of Office.. the Order of Companions of Martha and Mary. STrial exchang8s lak? pla¢è rogularfy throughout th& year and during 2022 she has periods of one month and thiee months li￿n9 alongs￿8 them *n Tunstall. Lan¢a$hlre. Daity prayers are said for the renewal and In￿eaSe in vocalion8 in the varioLSS di0¢4ses and ministries of the Chuich of England. We inlerc*tJe each day for Christian Unty. We also use our own Olfice for Unity after Mass every Thursday. We receive many requests for intercessory prayer both dife¢tty and wa Diocesan website and Ihase prayers are offered d81ty at Mltjday and when rdewant during interr*￿￿￿78 Ma88. Study D8ys were planned to take place during the year. as were the monthly op￿ Quiet Days wrth a variety Of Conductors, male and fgmate, ordalned and lay.. Quiet Aftemoons are hosted by our Associates. Bul all ofthese wer8 put on hold after March 2020 due to thè Pandeffl￿- and the Conductors havin9 been re-booked for the sarne months in 2021, wère th&n transferred to 20221 We were able to host the first Open Quiet Day in January 2022 with only 8 attendees and have grailualty incfeased to 12-15 as a maximum. rt has been decided that this number is comfortable so the Community w￿1 be reluming to groups of'up to 24.. There is a weekly In￿hoUse Bible sludy for Sisters and Oblates. other events usu81ty hosted during the year arg an Advent Carol Service and a sèrNice during the Week of Prayer for Christian Unity. These. and the Easler Caiol servi12 and a Festival for the mernbers of several Julian Groups were all cancelled during the Pandemic so at Easter 2022 it was possible to enjoy Easter Carols which had been written by 2 Novice Oblates for 2020- sadly one dièd of Cowd and the other had entered a Nursing Homè so were unable to bè pr8S8nt. There were no wsitors to the House during the period March 2020 until Juty 2021 and from then just one at a time lo begin with to enable soo81 distsnryng. There wefe no group meetings al all during the period and no vtsitors weie comin9 in lo join the Sisters for Mass OT Offices. It is a great joy to be able lo welcome people again and show hospilaiity. Several regUlar￿sIt()[S have r￿t retumed bLrt we ale (x)ntinuing to have new people lo visit and Stay. SOCIETY OF SISTERS OF BETHANY {Angllcan Rellgious Communlty REPORT & FINANCIAL STATEMENTS Forthe year ended 30th June 2022 Report of the Trustees {continued} ActivItl￿ Achlevoments and Perforn￿¢e (condnued) Visitors would no￿TraNY come for in{Ji￿dU3l quiet days. private retreats, Spiritual Drredion, quiet holidays or for times in chapel for pllvale prayer or lo join the Sisters in the Offices. Also. an Associates, Day. Advent Carol Semce. or Mass. Other small groups suth as Church Councalscome for meets.ngs and'away days. In addition, there Lbsed to be Open House lor lea and Vèspèrs on a Sa￿lday. Wè hosted the Deal Church oncè a month until thè Chaplain was taken ill and had lo lake earfy re￿.￿Ment. The group did ty to ￿Stsrt the Deaf Church but failing health for several has meam it has c*a$ed io opeTate localty. We hav& had a total of eight erNuiiies for aTc*Ne infom8tion. The number of Assooales for the year was 75. They eaeth r￿l￿d several mailings during the year and a Hou5ejoumaS in July and December. Since thé Pandemlc the Assoryale Sister has teleph¢)ned all thg Assouates forwhom sh¢ has the l&lephone numb9r or posted letters lo the others. The Trustee$ met on five occasions during the year. Among matters that have been discussed wère gèneral maintenance and finance issues, investment performa￿, and charitablg donations lo be made. There were plans to attend c8lebrabons al the inMtsb"on of other communib.es bui tjue lo the pandemic these were all cancelled several conla(#$ with other Communities o)ntynue. In October 2019 the Communty had an Eleclion for a Reverend Motherwhen a new phase in the CommunitV$ life began. Lrttle knowing that in just a few months. th& work ofthe Communty for giwng hospilality for Retrea15 and Spiritual SUC£OUT would come to an abrupt end- or rather would Continue in a very changed design. At the lime of Wr￿.ng, in January 2023, the situation is that the House 1$ open lo Indi￿dual ¥Asilors who socially distanc& from thè Sist¥rs. take lateral flow tests b8lore arrival and wear masks around the Hous& for the safety ol Staff 8nd Sisters. All visitors. rooms have been made en•SUitè by restrictsng the number of visitors and therefore allocatlng a (deslgnaled loilevbathroom for their sole use. DI$¢Lt$$*)n Is still much of things happgning"betsg the Pand9M￿. 8nd looking forw8rd to tho day8 of 'slnce the Pandamirf. We pray fry the day whèn wg can wok¥me vlsrtors agaln withoul reslrictions. and onjoy lellowship and lh8 Offices with our friends and Associales. Inv•stm•ntPolley The ITuslee5 have the powerto invesl in suth as5els as they see fft. The charity sometimes needs to react very quickly to parts'cular emergencjes and has a policy of keeping any SLsrplus liquid fvnds in a combinAtion of short- torm doPOStts, n¢)mially sthpn day nokn. and one day d8posits which can be accessed readlty. Raservos Pollcy The char¢ty has fr8e T8seNes of £599,562 whlch ￿￿￿esents roughty thirty months of unreslricted fund expenditure on charitable actiMlie$. The ¢h4rity needs to hold a small amount ol roserves to cover emergèncy slluations $u¢* a$ ur9ent property repairs or pastoral gmergenated vth altr• votuntsry income and Is primarity the cost ol the period¢31 newsleiter. Charitsblè &x￿n￿lture cunpri8es those costs in￿￿ed by the in dgtNWy of ils actth ¥Jd servths lor its beneficAaries. Govemance irKJude those costs assco8bJ ￿ me81iro thg aThJ stattrtw requi￿rnents gf tho thanty and Indu(le audrt tses. A5 ¢08ts are allocated b6(%￿en the exwditure categO￿S of tho Statement of Finanoal ktivrt¢es on a basL8 lèl Tanglbl? fixed assets Depreath"on is prgvided at the follLMThJ 9nn￿l rates in order to *Yrte off oath asset w ts esty'mated useful lrfe. Freet￿Id propety . seè note below Motor vehides Plant and equipment - over four ￿ar$ str8ighl lir - over frwJr￿rs Stsght li Fr8elK)Id propety is Sh(￿￿ 818 Wdluation cariied out in 1999 plths cost of ajdth sirtt d*e. Whefe buSldings are rnaintained to such a slandard blal thw"r esb"mated res￿￿81 Vall￿ is not less than the revaluad amount then no depreuation is charged as it is not matenal. No depWaI￿ is proMd•Y on fTeehokY Land. {fj Fund accountlng Unrestricted funds are avaiLable ft)r use at ￿ discre11￿ ofthe I￿stee$ in furlher8￿ ofthe gen8r81 objectives ol Ihe thanty. The Designated fund represents the value oftr* freehdd prcpth arKI equipment together wth the portfolio of investments, suffiaent to prowde Ir￿￿e to meet the sisters. househoky and liwng expenses. 12 SOCIETY OF SISTERS OF BEThANY (Anglican Religious Communtyl Notes to the financial stalements Icontinued) For the year ended 30th Junè 2022 2. Income & Endovfflients 2022 2021 Voluntary Income Donations & Gffts Legacies 99.131 32.750 113.rA8 99,131 Actlvlwes for gen•ratlng lund8 B(x)kstall 792 157 157 In¢omg From Charltabi• Aetmu Retreat Guests Inotel In¢omg from In¥e•tm•nts Dividends 150.846 150,846 126,689 126,689 Other Incornlng re•ourc•• Wages grants received 18.532 18,532 £244 $09 R•tr••t gu￿tI As 8 result of COV￿ re8trictyw$ no R8tr•8t Gu&8ts visrted in 11)e year 2021 U> e> %¥ df* • lj 14 SOCIETY OF SISTERS OF BETHANY (Anglican Religious Communlty) Note5 to the financial Statements (contlnued) For the year ended 30th June 2022 Freehold Land and Buildin99 Platrt and Equipment 4 Tangible Fixed A88ets Vehi¢105 2022 2021 Co¥VRevaluatlon At the 1st Juty 2021 Additions Revaluation adju51rn8nts Disposa 608.283 17.269 244.934 870.487 869.345 1.142 At the 30th June 2022 808.283 17.269 244.935 870.487 870.487 Aecumulat•d d•pr•clatlo At the 1st July 2021 Charge for th8 ￿ar Rekased in thg year 7,047 4.317 231.248 8,756 238,295 13,073 225.180 13,115 At the 30th 2022 11,364 240.C#J4 251,368 238.295 Net book valu At th0 30th Jun• 2022 £e4)8 283 £619 119 At th•30th JU￿2021 £632 192 The amount of£e08.283 apwariNJ in tho tsalw￿ shggt * m•J• up of the propertkns at coat or mark•tvaluation. 2022 Sothh8•a 7 Ngknn Rd. Al valuation Inotel Add.. Cost of garag• Gr8ve ￿ots Inotel SSO.CO) 550,C(rfJ 51.783 51,783 £608 283 £608 283 Mgssrs D M N¥8bit & Co provided th• Tru*t4•$ with an irrfonnal indepen4onl v•luJbon ol Ihe land ond buildings at 7 Ne180n Road in February 2009 based on (￿rIent use and estimaied Ihe value o)uhl possibty be in the region of £700,000. Thesr previousvaluation. Car￿ in Jum 1999. folkr**d substanbal and al that limg th?y gave a fomial valuation of £SSO.000. 7be Inuease in the value has not been adju51ed for in these accounts. On 25th June 1999 8 xryiert￿od in Amwi¢a grfltsj lo lh8 Sislers Ih•1een grnve pbts rwrto Havanl. The ￿t ofthe plots would ha¥e t)een apPro￿ale￿ £5CKI. Maint•n8nrA ha8 b88n paKI f¢r in perpeknty. 15 SOCIETY OF SISTERS OF BETHANY (Anglican Religious Community) Notss to the financial slat•m•nts (¢onlinu•d) For tho yoar ended 3(Ith June 2022 Tolal 2022 Total 2021 FIX￿ awt inve•lJnw Atthe 1Stj￿￿2l Addrtw$ lat costi 5.PJ)2.862 4.W.503 637,878 2,012.285 Oi$tx)saLs lal 5ak8 pricel Nel gainlllossl 0$) sal88 in y Not unrealisgd inve$kn¢nt gainsllbts•81 1642,2181 30.092 11.898.085) 353.042 1384,7421 S.443,874 372,117 5.802.862 Add. C88h awathThJ invgstrnenl Ilarkotvaluo (see beltrwl At th8 301h June 2022 72.281 97,804 £5.516.155 £5,￿J0.886 ¢o•tValu• At the 30th Jung 2022 £4.578.123 £4,580,016 T•tsl 2022 T•t•l 2021 Anal￿19 of mork•t of Inv••lThnts F￿•￿ Interest ,582 129.722 Ordinary & variable interwt 5.351.292 5,873.140 5.443.874 5,802,862 Cash 72,281 97,804 £5.518,155 £S,9fy).ee6 At Joth Jum 2022 1•prnMnth￿ morn Ih•n S% by v￿u• ofth• portlolk+: CBF of tho Chwch of Invesbrnnl FUN1 Units £1.409.89J 16 SOCIETY OF SISTERS OF BETHANY (Anglican Religious Communty) Notes to the financial statements (continued For the year ended 30th June 2022 6 Tru$tee Remuneration No Tmstee r￿1Ved any remuneration during the year. No travel or other costs were reimbursed to the Trustees. No Trustee or other person related to the charity had any personal interest in any contract or transacbon entered into by the chanty during the year12021 nill. 7 Taxation As a chanty, the Society of Sisters of Bethany is exempt from tax ￿ income and gains falling wrthin section 505 of the Taxes Act 1988 or section 256 of the Taxab"on of Chargeable Gains Act 1992 to the extent that these are applied io its charitable obJ'e¢ts. No tax charges have arisen in the Charrty 8 Dobtorn: Amounts falllng du• wlthln ono year 2022 2021 Glft Ald tax ro¢ov¢rable Prepayments 272 5.269 £5,541 313 5.133 £5.446 9 Crgdltor•: Amounts falllng due wfthln one year 2022 2021 PAYE, NIC & pension contribuknons Other Greditors Accruals 494 2,980 2.650 6,124 678 6,380 2,500 £9,558 10 Mov•m•nt In fund• Incomlng Resourc Galn$ & rn•ouru• •XP￿ded 10•8 At 1.7.21 At 30.6.22 General fund D85ignaled reserves fund 605,098 5,997.794 239,035 {244,571} 32.750 599,562 1354.650} 5,675.894 6,602.892 271,785 1244.571) 1354.650) 6,275,456 11 Staff c08t8 and omployees The average number of empk)yees during the year was 7 (2021. 71 No employee eamed over £60.0¢)O in the year 12 Related party transaclions There are no related party transactions for the year ended 30 June 2022