**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** **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). ``` ``` Page1 ``` ## **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. ``` ``` Page2 ``` ## **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. ``` ``` Page3 ``` ## **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. ``` ``` Page4 ``` ## **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. ``` ``` Page5 ``` ## **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** ``` 226582 ``` ## **Principal address** ``` HouseofBethany 7NelsonRoad Southsea Portsmouth Hampshire PO52AR ``` ``` Page6 ``` **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. ``` ``` Page8 ``` ## **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 ``` ``` Page9 ``` ## **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 ``` ``` Page10 ``` **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** ``` Page11 ``` ``` continued... ``` ## **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`| |---|---|---| |||| ``` Page12 ``` ``` continued... ``` ## **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. ``` ``` Page13 ``` ``` continued... ``` ## **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`| ``` Page14 ``` ``` continued... ``` ## **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`| ``` Page15 ``` ``` continued... ``` **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`|| |---|---| ||| ||| ``` Page16 ``` ``` continued... ``` ## **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. ``` ``` Page17 ```