2024-06-30-accounts - Society of the Sisters of Bethany

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REGISTERED CHARITY NUMBER: 226582

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

SOCIETY OF THE SISTERS OF BETHANY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

	Page
Report of the Trustees	`1 to 7`
Independent Examiner's Report	`8`
Statement of Financial Activities	`9`
Balance Sheet	`10`
Notes to the Financial Statements	`11 to 17`

SOCIETY OF THE SISTERS OF BETHANY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended30June2024.
ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial
ReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019).

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SOCIETY OF THE SISTERS OF BETHANY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

OBJECTIVES AND ACTIVITIES Objectives and aims OBJECTIVES AND ACTIVITIES

TheCommunitywasfoundedbyEtheldredaAnnaBenetton5October1866.Itisconstitutedunderatrust
deeddated22September1871(asamendedon13December1996)andbyaschemesealedon10
November1997.

ItisregisteredasacharitywiththeCharityCommissionwiththeobjectof'theadvancementofreligionandfor
generalcharitablepurposesforthepoorandaged'.AccordingtotheStatutestheobjectoftheSocietyis'that
theProfessedSisters,thatisthefullmembersoftheCommunity,withtheNovicesandPostulantsmaylive
togetherbyRuleasoneSociety(connectedwithandformingpartoftheChurchofEngland)intheMother
HouseandinsuchHousesasare,ormaybe,establishedfromtimetotime.During2021newReligious
CommunitiesRegulationscameintoforcefortheHandbookoftheReligiousLifeandtheSocietyofthe
SistersofBethanywasregisteredasaReligiousCommunity.

SharingacommoncallwithallmembersoftheChristianChurchthemembersoftheCommunitybelievethat
theyhaveaparticularcalltoliveinCommunity,asSistersofBethany,underthevowsofPoverty,Chastity
andObedience.BoundbythesevowstheydesiretogiveglorytoGodbyseeking,inthepowerofthisSpirit,
toknowhim,tolovehimandtodohiswillinalifeoffaithcentredinworshipandexpressedinserviceofour
fellowhumanbeings.

TheypraydailyfortheunityofallChristiansandendeavourtosharewithChristinhisworkofreconcilingthe
worldtoGod.

ASSOCIATES: were founded in 1867. They are men and women called by God to a life of prayer that is united with the Sisters of Bethany. A body of close friends of different Christian denominations, ages, lifestyles and backgrounds all are accepted as members of our extended family.

LivingintheirownhomesAssociatesadoptasimpleRuleofLifethatistheexpressionofasharedconcernto
loveandserveGodandoneanotheraftertheexampleofMary,MarthaandLazarus.EachRuleofLifeis
differentandistailoredtosuiteachAssociate'spersonalcircumstances.Lifechangescanmeanthat
changestotheRulealsobecomenecessary.TheAssociates'Sisterhelpsthemtobothcreateandadapt
theirRuleasneeded.

Wetreasurethelove,support,sympathyandprayersofthesefriendswithwhomwearesocloselyunited.
ManyfindstrengthandsupportinsucharelationshipwiththeCommunityandwithoneanother.Two
Associates'FestivalsayeargiveSistersandAssociatesachancetomeetupandsharenewswithbothold
andnewfriends.WeshareinourworshiptoointheEucharistandVespers.Ideasandnewsisshared-allof
thisencouragedbyplentyofgoodhealthyfood!AnAssociates'DaywasheldinSeptember2023when30
attendedbuttheMay2024DaycouldnottakeplaceduetotheHousebeingclosedfollowingaBishop's
Visitation.

TheAssociateswholiveontheIsleofWighthaveformedacellgroupwhichmeetsseveraltimesayear.As
at30June2024therewere5AssociatesontheIsland.WhenpossibleSisterstravelacrossfromthe
mainlandtosharethesemeetings.

AssociateseachhaveacopyoftheAssociates'OfficeBookandareencouragedtosayatleastoneOfficea
dayinunionwiththeSistersaswellasasharedcommitmentforintercessoryprayer.Theyalsoshareour
particularburdenofprayerfortheUnityoftheChurch.

AnannualAssociates'retreattookplaceeachyearuntil2020whenLockdownduetothePandemiccausedit
tobecancelled.ThesewerenormallyheldatAltonAbbey.SadlyAltonAbbeyhasnotre-openedafterthe
Pandemic.AssociatesjoinedtheSistersintheirretreatstwiceyearlyattheconventinOctober2023and
February2024.

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SOCIETY OF THE SISTERS OF BETHANY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

OBLATES: were founded in response to a request from a group of Associates who felt a call from God to a closer association with the Sisters. In September 2014 seven Novice Oblates were admitted (a mixed group of men and women) for a period of discernment and exploration. A pattern of 'Oblates Days' did start to take place again three or four times a year after the Pandemic; at first at Portsmouth Cathedral and then back at the House of Bethany but then, due to illness and bereavement, there have been no Oblates' Days. 'Study Days' also have not restarted, which were conducted by one of the Oblates. In discussion with the founding Novice Oblates an Oblate Rule was prepared which closely matches the Rule of the Sisters, slightly modified to suit the circumstances of lay people. Oblates differ from Associates in their commitment to that Rule, which is common to all the Oblates, rather than one of their own devising.

SomeOblatesareinapositiontoofferpracticalhelponaregularbasisorcanmakethemselvesavailableto
undertakeoccasionaldutiestohelptheSisters.Itisanticipatedthatafteratleastoneyearinformationa
NoviceOblatemightrequestconsiderationforProfession.Asat30June2024,1NoviceOblatewasin
formationand8havemadetheirProfessionofVows.1NoviceOblatehasdiedduringtheyear.

SomeAssociatesandOblateshavejoinedalocalgroupatChichester,over-seenbyoneoftheSSBOblates
andthisgroupisopentoallOblates,AssociatesandanyonewhohasaninterestintheReligiousLife.It
meetsintermittentlyaccordingtothecommitmentsofthegroup.

Voluntary help and gifts in kind

Thecommunityhasnovoluntaryhelpinitsdaytodayrunning,althoughitdoesreceiveaconsiderable
amountofPrayerSupportfromitsAssociates,Oblatesandfriends.

Public benefit

ThetrusteesconfirmthattheyhavereferredtotheguidancecontainedintheCharityCommission'sgeneral
guidanceonpublicbenefitwhenreviewingthecharity'saimsandobjectivesandinplanningfutureactivities.
Thetrusteesrefertopublicbenefitthroughoutthisreport.

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SOCIETY OF THE SISTERS OF BETHANY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

ACHIEVEMENT AND PERFORMANCE

Charitable activities

TheworkofthisCommunityhasalwaysbeenprayerfortheunityoftheChurch,hospitalityandretreatwork.
Oneitheraresidentialoradailybasistheretreatcreatesspaceforpeopleindividuallyoringroupstostand
backfromtheirdailylivesandbewithGodinaquietandprayerfulatmosphere.Groupshadstillnotreturned
totheirpre-pandemicnumbersbuttheyweresteadilyincreasinguntiltheHousewasclosedinAprilanda
couplehadbecomemonthlygroupmeetings.Somegroupsweremeetingastrainingfortheircharity,orfor
theirAGM,someasChurchGroupsorasRetreatGroups.VisitorstotheHousethisyear-653signedthe
Visitors'Book,eitherfortheday;oftheseseveralwereregulardayvisitorstoMass,BibleStudy,Julian
MeetingsandQuietDays-thelatteraveraging18.128peoplecametostayformorethanonenight.Deaf
Churchhadonlyjustreturned,whenwewereclosed;thisnowcontinuesatavenueinFareham.

Sistersundertakestudycoursestoenablethemtohelpothersandtoenrichtheirownlives.Theyalsoattend
ConferenceswhichbringthemintocontactwithotherCommunities.Conferencesthatbringthemtogether
withtheOfficersinotherCommunitiesenablethesharingofwisdomamongstparticulargroupssuchasthe
Superiors',Bursars',NoviceGuardians',NovicesandFirstProfessedmembers.Allthesewerecancelled
duringthe2yearsofthePandemicalthoughsomeoftheConferencesandeventswhichSistersattend
occurredviaZoom.SisterswererepresentedattheSocietyofCatholicPriests,RetreatHouseleaders-as
wellaslocalcoursesrunbytheDioceseforSafe-guarding.AnecumenicalConferenceforSeniorReligious
wascancelledinboth2020and2021,andin2022wasrescheduledatatimetheCommunitycouldnotjoin
in.However,itrevertedtoitsusualLent5weekinboth2023and2024whichoneSisterthenattended.
ManyoftheConferencesareecumenical.

OneNovicewasClothedinMay2023.Othershavetestedtheirvocationwithusandforavarietyofreasons
arenolongerwithus.TheNoviceGuardianarrangedregularweekendmeetingsforEnquirersinviting
SpeakersonsubjectsconcerningtheRuleandLifeoftheCommunity.

Onalternateyearsaninternationalinter-denominationalConferenceofReligiousisattended-thevenue
beingindifferentcountrieseachtime.

OneSisterwassinginginaChurchChoirsuchthatitdidnotinterferewiththepriorityofthePrayerlife
oftheCommunityandthisoccurswhendutieswithintheHouseallow.Occasionalvisitstolocalschoolsand
ChaplaincydutiesattheCathedralwereundertakenpriortothepandemic,andtwomeetingstookplaceata
schoolinPortchesterinNovemberandDecember2023.SistershavealsospokeninChurchesaboutthe
ReligiousLifeon4occasions.

ReverendMotherrepresentedtheCommunityonDiocesanSynod,DeanerySynodandDeaneryCluster
meetingsuntiltheclosureoftheHouseaftertheVisitation.TheSisterswerealsorepresentedonthe
ecumenicalfraternaloflocalministersandthisisduetorestartinSeptember2024.

InSeptember2021,aSisterwasgivenleaveofabsencetoexplorehervocationinNorfolk.Duringthis
period,shewasalongsidesomeonewhowasthenlivingthesolitarylife.Afteratimeofprayerand
discernment,thatpersonaskedtobecomeaSisterofBethanyandwasadmittedasapostulant.The
SocietyrentedapropertyfromOctober2022tocontinuetheperiodofdiscernmentandconsequently
purchasedapropertyinSeptember2023.Anothersistersubsequentlyjoinedthemthere.Alongsidetheir
mainworkofcorporateandpersonalprayer,thesistershaveministeredinthelocalbeneficeinavarietyof
ways,workingundertheauthorityoftheRector.AftertheBishop'sVisitation,andtheneedforthe
CommunitytoattendtotheVisitationReport,thesisterssteppedbackfrommuchoftheirlocalministrybut
arehopingtoresumethatgraduallyandalsotowelcomeguestsforpersonalretreatsfromthespringof2025.

OnesisterisalsocurrentlyservingasaHouse-for-dutypriestintheDioceseofChichester.

ThereareatpresentnoSistersinNursingHomes.

TheSocietyhasastronglinkwiththeOrderofCompanionsofMarthaandMaryinTunstall,Lancashirewhich
MotherRita-Elizabethmentoredandcontinuestodoso,althoughnow'outofOffice'.Socialexchangestake
placeregularlythroughouttheyearandSisterRita-Elizabethcontinuestovisit.

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SOCIETY OF THE SISTERS OF BETHANY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

Dailyprayersaresaidfortherenewalandincreaseinvocationsinthevariousdiocesesandministriesofthe
ChurchofEngland.TheSistersinSouthseaintercedeeachdayforChristianUnity.Wealsouseourown
OfficeforUnityafterMasseveryThursday.Wereceiveaconsiderablenumberofrequestsforintercessory
prayerbothdirectlyandviatheDiocesanPrayerRequestwebsiteandtheseprayersareoffereddailyat
MiddayandwhenrelevantduringtheintercessionsatMass.

ThemonthlyOpenQuietDaysbeganagaininJanuary2022withjust8Retreatants,increasinggraduallytoa
maximumof20.TheseareledbyavarietyofConductors,maleandfemale,ordainedandlay.After
discussionwithsomeoftheRetreatantsitwasagreednottoreturntoamaximumof24toallowmorespace
forthoseattending.Similarly,lunchcontinuedintheConservatoryallowingforBeveragesthrough-outthe
dayratherthanbeingatasettime.SadlythesehaveceasedsincetheclosureoftheHousesincethe
Bishop'sVisitation.Aweeklyin-HouseBibleStudyforSisters,OblatesandVisitorstotheWednesdayMass
continuedjustfortheSistersandNovitiate

OthereventshostedduringtheyearwereanAdventCarolServicewhichisheldtoraisemoneyforeithera
localcharityoranoverseascharityknowntotheSistersandinJanuaryaserviceduringtheWeekofPrayer
forChristianUnity.TheAdventCarolServiceinDecember2023washeldfortheRNLI,beingits200th
Anniversaryand26attended.AnenergisingEasterCarolServicewith30attendingwasheldshortlybefore
theHousewasclosedtoVisitors.

Wehavehadatotalof3enquiriesforarchiveinformation;theseareusuallyveryinterestingconnections.
ThenumberofAssociatesfortheyearwas66;with2expectingtobeAdmittedattheMayAssociates'Day.
TheyeachreceivedseveralmailingsduringtheyearandaHousejournalinJulyandDecember.Becauseof
theclosurenoMagazinewassentoutinJuly2024,butalettertotheAssociatesandOblatesexplainingthe
reasonsfortheClosureoftheHouse.

FollowingtheEpiscopalVisitationinApril2024theSouthseaHousewasclosedbecauseofSafeguardingand
GovernancereasonstobereviewedinNovember2024.TheNovitiatewassuspended.Measuresarebeing
undertakentoenablere-opening.

TheTrusteesmeton5occasionsduringtheyear.Amongmattersthathavebeendiscussedweregeneral
maintenanceandfinanceissues,investmentperformance,preparationofnecessarypolicies,charitable
donationstobemadeandmoreespeciallyduringthisyeartherental,andthenpurchaseofapropertyin
Norfolk,andstaffandsafe-guardingissues.InApril2023aTrusteehadhadtoretireduetohiswork-load
andatpresentithasnotbeenpossibletorecruitareplacementwithaccountingknowledge.

FINANCIAL REVIEW

Investment policy and objectives

Thetrusteeshavethepowertoinvestinsuchassetsastheyseefit.Thecharitysometimesneedstoreact
veryquicklytoparticularemergenciesandhasapolicyofkeepinganysurplusliquidfundsinacombinationof
short-termdeposits,normallysevendaynotice,andonedaydepositswhichcanbeaccessedreadily.

Financial and Reserves policy

Thecharityhasfreereservesof£104,494whichrepresentsroughlyfivemonthsofunrestrictedexpenditure
oncharitableactivities.

Thecharityneedstoholdasmallamountofreservestocoveremergencysituationssuchasurgentproperty
repairsorpastoralemergencies.Howeverthemainreasonforholdingreservesistoensurethatthecharity
hasenoughresourcestofundthehouserunningexpensesandpossiblenursinghomeexpensesasthe
householdbecomesolder.

Theamountofreservesheldisthereforebroadlyinlinewiththeplanandisexpectedtoremainsoforthe
foreseeablefuture.

Thetrusteeshavedesignatedreservestotalling£8,008,740representingtheamountofmoneyinvestedinthe
freeholdpropertyandequipment,andtofundaportfolioofinvestmentssufficienttogeneratetheincome
requiredtomeetthesisters'householdandlivingexpenses.

Norestrictedfundsareheldbethecharity.

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SOCIETY OF THE SISTERS OF BETHANY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

FUTURE PLANS

WeareonacontinualmissiontoseeknewNovices,AssociatesandOblates.

Weadvertisewidelytoencouragepeoplefromthelocalcommunitytoshareourworshipandattendour
events.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrustandconstitutesanunincorporatedcharity.

Organisational structure

Thetrusteeswhoheldofficeatthedateofthisreportaresetoutinthereferenceandadministrativedetails
section.Thetrustdeedallowsforuptofivetrusteestobeappointedwithaminimumofthree.Trusteesare
appointedbytheGeneralChapteroftheCommunitybydirectingthattheMotherSuperiorgiveseffecttothe
appointmentofthenewtrustee.Trusteescontinueinofficeuntiltheyresignorbecomeincapableofactingas
atrustee.Whennewtrusteesareappointedtheyaregivenandintroductiontotheworkofthetrustand
providedwiththeinformationtheyneedtofulfilltheirroles,whichincludesinformationabouttheroleof
trusteesandcharitylaw.Eachtrusteeattendsthemeetingsheldatleastthreetimesayearunlessthereis
goodcauseforabsence.TheCharity'sAdministratorisresponsiblefortheday-to-dayoperationoftheCharity
financesandmanagestheCommunityAccountsinconjunctionwiththeAccountantandtheMotherSuperior.

Risk management

Allsignificantactivitiesundertakenaresubjecttoariskreviewaspartoftheinitialprojectassessmentand
implementation.Majorrisksareidentifiedandrankedintermsoftheirpotentialimpactandlikelihood.

Majorrisks,forthispurpose,arethosethatmayhaveasignificanteffecton:

Operational performance, including risks to our residents, personnel and visitors;
Achievement of our aims and objectives; or
Meeting the expectations of our beneficiaries or supporters.

Thetrusteesreviewtheserisksonanongoingbasisandsatisfythemselvesthatadequatesystemsand
proceduresareinplacetomanagetherisksidentified.Whereappropriate,risksarecoveredbyinsurance.
Thefollowingframeworkiscentraltoensuringadequateriskassurance:

Regular monitoring of major risks and development of action plans;
Embedding risk identification and assessment within operating procedures;
A clear structure of delegated authority and control;
Review of key systems and procedures;
Maintaining reserves in line with set policies; and
Regular summary reports on risk management to the trustees.
Financial risk due to suspension of hospitality due to closure/other courses reputational risk.

Inassessingriskourtrusteesrecognisethatsomeareasofourworkrequiretheacceptanceand
managementofriskifourkeyobjectivesaretobeachieved.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

Principal address

HouseofBethany
7NelsonRoad
Southsea
Portsmouth
Hampshire
PO52AR

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SOCIETY OF THE SISTERS OF BETHANY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

Trustees

MotherMaryJoySSB
SisterRita-ElizabethSSB
MrsJacquiRedstone

Independent Examiner

StuartMackieFCA
MorrisCrocker
CharteredAccountants
StationHouse
NorthStreet
Havant
Hampshire
PO91QU

Solicitors

BDBPitmanSolicitors
1BartholomewClose
London
EC1A7BL

Bankers

NationalWestminsterBankplc
130CommercialRoad
Portsmouth
PO1IES

Investment Managers

BarclaysInvestmentSolutionsLimited
1ChurchillPlace
CanaryWharf
London
E145HP

Page7

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOCIETY OF THE SISTERS OF BETHANY

Independent examiner's report to the trustees of Society of the Sisters of Bethany

IreporttothecharitytrusteesonmyexaminationoftheaccountsofSocietyoftheSistersofBethany(the
Trust)fortheyearended30June2024.

Responsibilities and basis of report

AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith
therequirementsoftheCharitiesAct2011('theAct').

IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActandin
carryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharityCommissionunder
Section145(5)(b)oftheAct.

Independent examiner's statement

Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnection
withtheexaminationgivingmecausetobelievethatinanymaterialrespect:

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountstobe
reached.

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SOCIETY OF THE SISTERS OF BETHANY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024

`Notes` INCOME AND ENDOWMENTS FROM `Donations and legacies` `2` Charitable activities `5` `Charitable Activities` `Other trading activities` `3` `Investment income` `4` `Other income` Total EXPENDITURE ON `Raising funds` `6` Charitable activities `7` `Charitable Activities` Total `Net gains on investments` NET INCOME RECONCILIATION OF FUNDS `Total funds brought forward` TOTAL FUNDS CARRIED FORWARD	`2024` `Unrestricted` `funds` `£` `68,861` `11,284` `449` `122,657` `-` `203,251` `29,359` `241,022` `270,381` `481,160` `414,030` `7,699,204` `8,113,234`	`2023` `Total` `funds` `£` `79,196` `13,665` `927` `160,860` `1,421`
		`256,069`
		`28,924` `246,286`
		`275,210`
		`1,442,889`
		`1,423,748` `6,275,456`
		`7,699,204`

Thenotesformpartofthesefinancialstatements

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SOCIETY OF THE SISTERS OF BETHANY

BALANCE SHEET

30 JUNE 2024

`Notes` FIXED ASSETS `Tangible assets` `12` `Investments` `13` CURRENT ASSETS `Debtors` `14` `Cash at bank` CREDITORS `Amounts falling due within one year` `15` NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS `16` `Unrestricted funds` TOTAL FUNDS	`2024` `Total` `funds` `£` `2,742,373` `5,266,367` `8,008,740` `5,488` `102,161` `107,649` `(3,155)` `104,494` `8,113,234` `8,113,234` `8,113,234` `8,113,234`	`2023` `Total` `funds` `£` `1,967,445` `5,589,410` `7,556,855` `7,134` `143,685` `150,819` `(8,470)` `142,349` `7,699,204` `7,699,204` `7,699,204` `7,699,204`

Thenotesformpartofthesefinancialstatements

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SOCIETY OF THE SISTERS OF BETHANY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeen
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)
(effective1January2019)',FinancialReportingStandard102'TheFinancialReportingStandard
applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatements
havebeenpreparedunderthehistoricalcostconvention,withtheexceptionofinvestmentswhichare
includedatmarketvalue,asmodifiedbytherevaluationofcertainassets.

Income

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothe
funds,itisprobablethattheincomewillbereceivedandtheamountcanbemeasuredreliably.

Expenditure

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillbe
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditureis
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateallcost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingstheyhavebeen
allocatedtoactivitiesonabasisconsistentwiththeuseofresources.

Tangible fixed assets

Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoveritsestimated
usefullife.

Plantandmachinery-25%oncost
Motorvehicles-25%oncost

FreeholdpropertyisshownataninformalvaluationcarriedoutinJune2023.Wherebuildingsare
maintainedtosuchastandardthattheirestimatedresidualvalueisnotlessthantherevaluedamount
thennodepreciationischargedasitisnotmaterial.Nodepreciationisprovidedonfreeholdland.

Taxation

Thecharityisexemptfromtaxonitscharitableactivities.

Fund accounting

Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionofthe
trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticularrestricted
purposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothefinancial
statements.

Financial instruments

Thecharityonlyentersintobasicfinancialinstrumentstransactionsthatresultintherecognitionof
financialassetsandliabilitiesliketradeandotheraccountsreceivableandpayableandinvestmentsin
stocksandshares.Themeasurementbasisusedfortheseinstrumentsisdetailedbelow.

Debtors and cash at bank

Tradeandotherdebtorsarerecognisedatthesettlementamountdueafteranytradediscountoffered.
Prepaymentsarevaluedattheamountprepaidnetofanytradediscountsdue.Cashatbankandin
handincludedcashheldondepositorinacurrentaccount.

Creditors and provisions

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SOCIETY OF THE SISTERS OF BETHANY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024

1. ACCOUNTING POLICIES - continued

Financial instruments

Creditorsandprovisionsarerecognisedwherethecharityhasapresentobligationresultingfroma
pasteventthatwillprobablyresultinthetransferoffundstoathirdpartyandtheamountduetosettle
theobligationcanbemeasuredorestimatedreliably.Creditorsandprovisionsarenormallyrecognised
attheirsettlementamountafterallowingforanytradediscountsdue.

2. DONATIONS AND LEGACIES

`Donations` `Legacies` 3. OTHER TRADING ACTIVITIES `Bookstall` 4. INVESTMENT INCOME `Dividends` `All investment income is derived from assets held in the United Kingdom.` 5. INCOME FROM CHARITABLE ACTIVITIES `Activity` `Retreat Guests` `Charitable Activities` 6. RAISING FUNDS Investment management costs `Stockbroker & legal fees`	`2024` `£` `53,700` `15,161` `68,861` `2024` `£` `449` `2024` `£` `122,657` `2024` `£` `11,284` `2024` `£` `28,874`	`2023` `£` `51,980` `27,216` `79,196` `2023` `£` `927` `2023` `£` `160,860` `2023` `£` `13,665` `2023` `£` `28,553`

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SOCIETY OF THE SISTERS OF BETHANY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024

7. CHARITABLE ACTIVITIES COSTS

`Charitable Activities` 8. SUPPORT COSTS `Charitable Activities` `Support costs, included in the above, are as follows:` Finance `Bank charges` Governance costs `Accountancy and other fees`	`Direct` `Support` `costs (see` `Costs` `£` `238,408` `note 8)` `£` `2,614` `Governance` `Finance` `£` `214` `costs` `£` `2,400` `2024` `Charitable` `Activities` `£` `214` `2024` `Charitable` `Activities` `£` `2,400`	`Totals` `£` `241,022` `Totals` `£` `2,614` `2023` `Total` `activities` `£` `142` `2023` `Total` `activities` `£` `1,100`

9. TRUSTEES' REMUNERATION AND BENEFITS

Therewerenotrustees'remunerationorotherbenefitsfortheyearended30June2024norforthe
yearended30June2023.

Trustees' expenses

Duringtheyearnotrustees(2023:none)werereimbursedoutofpocketexpensestotalling£0(2023:
£0).

10. STAFF COSTS

Theaveragemonthlynumberofemployeesduringtheyearwasasfollows:

	`2024`	`2023`
`Average employees`	`6`	`7`

Noemployeesreceivedemolumentsinexcessof£60,000.

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SOCIETY OF THE SISTERS OF BETHANY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable Activities
Other trading activities
Investment income
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Charitable Activities

Total
Net gains on investments

NET INCOME

RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD Unrestricted
funds
£
79,196
13,665
927
160,860
1,421
256,069
28,924
246,286
275,210
1,442,889
1,423,748
6,275,456
7,699,204

12. TANGIBLE FIXED ASSETS

COST OR VALUATION `At 1 July 2023` `Additions` `At 30 June 2024` DEPRECIATION `At 1 July 2023` `Charge for year` `At 30 June 2024` NET BOOK VALUE `At 30 June 2024` `At 30 June 2023`	`Freehold` `property` `£` `1,950,000` `781,692` `2,731,692` `-` `-` `-` `2,731,692` `1,950,000`	`Plant and` `machinery` `£` `261,398` `-` `261,398` `245,541` `5,176` `250,717` `10,681` `15,857`	`Motor` `vehicles` `£` `17,269` `-` `17,269` `15,681` `1,588` `17,269` `-` `1,588`	`Totals` `£` `2,228,667` `781,692`
				`3,010,359`
				`261,222` `6,764`
				`267,986`
				`2,742,373`
				`1,967,445`

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SOCIETY OF THE SISTERS OF BETHANY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024

12. TANGIBLE FIXED ASSETS - continued

Costorvaluationat30June2024isrepresentedby:

`Valuation in 1999` `Valuation in 2023` `Cost`	`Freehold` `property` `£` `550,000` `1,348,217` `833,475` `2,731,692`	`Plant and` `machinery` `£` `-` `-` `261,398` `261,398`	`Motor` `vehicles` `£` `-` `-` `17,269` `17,269`	`Totals` `£` `550,000` `1,348,217` `1,112,142`
				`3,010,359`

AninformalvaluationhasrecentlybeenprovidedfortheTrusteesbyMessrsDMNesbitt&CoinJune
2023.Atthisdateavaluationwasgivenbasedoncurrentuseandafigurewasthoughttobeinthe
regionof£1,950,000.Theincreaseinthevaluehasbeenadjustedintheseaccounts.

13. FIXED ASSET INVESTMENTS

2024 Market value `Brought forward` `5,521,840` `Additions` `2,456,802` `Disposals` `(3,242,540)` `Revaluation` `481,160` `5,217,262` `Bank` `49,106` `Carried forward` `5,266,368` `Analysis of investments by type:` `Equities` `Fixed interest securities` `Cash held within the investment portfolio` 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR `Gift Aid tax recoverable` `Prepayments and other debtors`	2023 `5,443,876` `402,549` `(425,758)` `101,172` `5,521,840` `67,570` `5,589,410` `2024` `£` `2023` `£` `5,112,479` `5,421,335` `104,783` `100,505` `49,106` `67,570` `5,266,368` `5,589,410` `2024` `£` `-` `2023` `£` `173` `5,488` `6,961` `5,488` `7,134`	2023 `5,443,876` `402,549` `(425,758)` `101,172` `5,521,840` `67,570` `5,589,410` `2024` `£` `2023` `£` `5,112,479` `5,421,335` `104,783` `100,505` `49,106` `67,570` `5,266,368` `5,589,410` `2024` `£` `-` `2023` `£` `173` `5,488` `6,961` `5,488` `7,134`
		`7,134`

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SOCIETY OF THE SISTERS OF BETHANY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

`Taxation and social security` `Other creditors`	`2024` `£` `151` `3,004` `3,155`	`2023` `£` `485` `7,985`
		`8,470`

16. MOVEMENT IN FUNDS

Net
movement
At 1.7.23
in funds
£
£
Unrestricted funds
General fund
553,205
(67,130)
Designated fund
7,145,999
481,160
7,699,204
414,030
TOTAL FUNDS
7,699,204
414,030
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Resources
expended
£
Unrestricted funds
General fund
203,251
(270,381)
Designated fund
-
-
203,251
(270,381)
TOTAL FUNDS
203,251
(270,381)
Comparatives for movement in funds
At 1.7.22
£
Unrestricted funds
General fund
599,562
Designated fund
5,675,894
6,275,456
TOTAL FUNDS
6,275,456

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SOCIETY OF THE SISTERS OF BETHANY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024

16. MOVEMENT IN FUNDS - continued

Comparativenetmovementinfunds,includedintheaboveareasfollows:

Unrestricted funds `General fund` `Designated fund` TOTAL FUNDS	`Incoming` `resources` `£` `228,853` `27,216` `256,069` `256,069`	`Resources` `expended` `£` `(275,210)` `-` `(275,210)` `(275,210)`	`Gains and` `losses` `£` `-` `1,442,889` `1,442,889` `1,442,889`	`Movement` `in funds` `£` `(46,357)` `1,470,105` `1,423,748` `1,423,748`

17. RELATED PARTY DISCLOSURES

Therewerenorelatedpartytransactionsfortheyearended30June2024.

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