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2025-04-05-accounts

Society of All Saints

Registered Charity No: 228383

Accounts

for the year ended 5th April 2025

Wenn Townsend Chartered Accountants

Oxford

Society of All Saints

Community Leader: Sister Jane All Saints 15A Magdalen Road Oxford OX4 1RW Trustees: Rev P Groves Rev Dr A Allen Ms H Merrington-Rust Ms J Lyle Solicitors: HMG Law LLP 126 High Street Oxford OX1 4DG Auditors: Wenn Townsend 30 St. Giles' Oxford OX1 3LE Bankers: The Co-operative Bank plc Investment Managers: The Central Board of Finance of the Church of England 1 Angel Lane London EC4R 3AB 228383

Registered Charity Number:

1

Society of All Saints

Trustees' Report for the year ended 5th April 2025

Reference and administrative details - see Page 1

Structure, Governance and Management

Governing Document

The constitution under which the Society operates has its origins in the original statutes drawn up in 1859 and was last amended in 2017. The Chapter (Sisters of the Community) is responsible for decisions on undertaking or relinquishing important activities and thus strategy is in the hands of the Sisters. The Trustees are responsible for holding and investing the assets of the community.

Appointment of Trustees

The number of the Trustees shall not at any time be more than six nor less than three, following a constitutional amendment passed in 2009.

Any of the Trustees who is an individual shall be a Christian of good standing in their own community of faith.

Each of the Trustees retires from office after three years. A retiring Trustee is eligible for re-election.

The power of appointing a new Trustee or new Trustees is vested in the Chapter and is exercised by resolution of a meeting of the Chapter passed in accordance with the Constitution of the Society.

Trustees induction and training

The induction of new Trustees includes preparation by the sisters in terms of matters pertaining to the constitution and in terms of matters pertaining to Trustee duties in general.

Organisation

The Trustees meet at least three times a year and receive reports from the Community Leader, the Trust Bursar and the Trust’s professional and investment advisors. The Society has a professional solicitor who acts as clerk to the Trustees.

Trustee remuneration

All Trustees give of their time freely and no Trustee remuneration was paid in the year.

Key management personnel

The Charity is managed by the Sisters who receive no remuneration.

Related parties

The Society Trustees act as Members of The Porch, a charitable company limited by guarantee. As a member, they appoint the Trustees of this charity. The Society appoints a director to the Board of Helen & Douglas House who pay a rent to the Society. The Society is currently represented on both Boards.

Principal risks and uncertainties

The Trustees have examined the principal areas of the Charity’s operation and considered the major risks in these areas. The Trustees consider the Charity’s systems are such that these risks are mitigated to an acceptable level.

2

Society of All Saints

Trustees' Report for the year ended 5th April 2025

.…………….. continued

Objectives, activities and public benefit

The Trustees have regard to the Charity Commissioner’s guidance on public benefit in carrying out the Charity’s objectives. The Society of All Saints Sisters of the Poor is an Anglican religious community for women. The Sisters have an active ministry. The aim is to be channels of God’s love, in whatever way they believe the Holy Spirit is leading them, helping all those who are in need by reason of age, health or social circumstance. The community at present consists of 5 sisters in life vows. Founded in London in 1851, their work over the years and in four continents has taken many forms.

In Oxford they founded the Porch (support for the homeless and vulnerably housed), which now operates as a separate corporate charity of which the Society’s Trustees are the Members. The community continues to provide storage space at a peppercorn rent for food for consumption by Porch users and production of consumables sold by the Porch as part of their own fundraising activities. They also founded Helen and Douglas House (a hospice for children and young adults) in Magdalen Road. They transferred the business of St John’s Home which is a registered residential home for the elderly and attached to the former convent building to a new proprietor in September 2016. The Home accommodates 38 men and women fee paying residents who are offered companionship in a loving and caring environment enabling them to live their remaining years with dignity.

By giving up our big involvement with land building management, we hope to use our resources in our new locations in ministry in our parish and for furthering our objectives more directly with people in need and need time to develop this. During this time of transition, we have maintained long term contact with vulnerable people by telephone.

Brownlow House is a modern guest house, well equipped for self-catering. It provides much needed space for retreat, for small groups and for time ‘just to be’ and is situated in the beautiful gardens which provide peace and serenity for all visitors and residents. There is no charge and people give according to their means and in appreciation.

Achievements and performance

The Convent continues to offer hospitality to people who are vulnerable in a variety of ways and they return year after year. The flexible use of the Guest House allows small groups, including clergy cell groups, to come together for recuperation or work planning. They appreciate the sensitive and non-intrusive way in which their needs are provided through the arranging of rooms and availability of refreshments.

Since moving from the Old Convent buildings, the sisters have gradually begun to build up an active presence in the Parish Church which has been welcomed with enthusiasm.

They are recognised in the locality by homeless and vulnerably housed people who have known them through the Porch and the Steppin’ Stone Centre.

The chapel and former convent building has been occupied by a religious community of Catholic Franciscan Friars, much welcomed by the Sisters.

The gardens provide space and peace, and the changing patterns of growth and colour as well as some unusual cultivars, all help guests, visitors and the Friary and Hospice communities to unwind and find inner contentment.

3

Society of All Saints

Trustees' Report for the year ended 5th April 2025

.…………….. continued

Reserves policy

The Trustees have examined the requirement for “free reserves” which are those unrestricted funds not invested in fixed assets or committed for investment in fixed assets, designated for specific purposes or otherwise designated. The Trustees propose to put aside sums towards the likely costs of repairs and restoration of the listed buildings in the coming year.

The Charity’s total accumulated funds at the year end amounted to £11.9m (2024: £12.1m). Free reserves stand at £8.3m (2024: £8.6m). The underlying investments produce just under half of the income of the Society. The Trustees intend to continue with its restoration programs and grow the support it already provides to residents within St John’s Home.

Restricted funds at the year end were £1.5k (2024: £1.5k).

Financial Review

The Charity’s total incoming resources for the year amounted to £496k (2024: £547k). Prior to investment movements there was a deficit of £19k (2024: surplus £125k) for the year. The investments decreased by £299k (2024: increased by £690k). The total movement in funds in the year was a deficit of £216k (2024: surplus of £1.2m).

Investment powers and policy

Investments have been included in the Balance Sheet at their market value. 100% (2024: 100%) of total investments are in the CBF investment funds which decreased in value by 4.0% (2024: 1.75%). The Trustees meet with their advisers on a regular basis to confirm strategy and monitor performance.

The Trustees aim to preserve the real capital value of investments held, while at the same time maximising income. They are also seeking to increase monies held as investments to ensure the future viability of the charity.

Fundraising

The charity does not undertake any fundraising directly from the general public. Visitors are invited to give gifts.

Plans for future periods

Having moved from the Oxford site during the year, The Sisters are considering The Society’s options for the future use of the site.

4

Society of All Saints

Trustees' Report for the year ended 5th April 2025

.…………….. continued

Trustees' responsibilities in relation to the financial statements

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts Reports) Regulations 2008 and trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditors

A resolution will be proposed at the Trustees meeting that Wenn Townsend will be re-appointed as auditors of the charity.

On behalf of the Trustees

Rev Dr Andrew Allen

Trustee

…………………… 2025

5

Society of All Saints

Independent Auditor’s Report to the Trustees of the Society of All Saints

Opinion

We have audited the financial statements of Society of All Saints (the ‘charity’) for the year ended 5th April 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

6

Society of All Saints

Independent Auditor’s Report to the Trustees of the Society of All Saints (continued)

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 5, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

...........................................................

Wenn Townsend Statutory Auditor 30 St Giles Oxford OX1 3LE

……………………………… 2025

Wenn Townsend is eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006.

7

Society of All Saints Statement of Financial Activities for the year ended 5th April 2025

Unrestricted
Restricted		 Unrestricted Restricted
Note Funds Funds Total Funds Funds Total
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Income from:
Donations and gifts 2 2,467 - 2,467 10,922 - 10,922
Other income – pensions 64,595 - 64,595 62,844 - 62,844
Activities for raising funds
Sales and other income 353 - 353 23 - 23
Income from investments
Income from securities 222,349 - 222,349 252,343 - 252,343
Rental income 139,360 67,500 206,860 153,777 67,510 221,287
─────── ─────── ─────── ─────── ─────── ───────
Total income 429,124 67,500 496,624 479,909 67,510 547,419
Expenditure on:
Charitable activities
Community 3 (515,802) - (515,802) (422,179) - (422,179)
─────── ─────── ─────── ─────── ─────── ───────
Net income before
gains on investments (86,678) 67,500 (19,178) 57,730 67,510 125,240
Gain on disposal of assets 4 12,354 - 12,354 376,922 - 376,922
Net gains on investments
Investment gains/(losses) 5 (209,208) - (209,208) 689,574 - 689,574
─────── ─────── ─────── ─────── ─────── ───────
Net movement in funds (283,532) 67,500 (216,032) 1,124,226 67,510 1,191,736
Transfer to Sinking Fund 67,500 (67,500) - 67,510 (67,510) -
Reconciliation of funds:
Funds balance at 6th April 2024 12,156,296 1,566 12,157,862 10,964,560 1,566 10,966,126
─────── ─────── ─────── ─────── ─────── ───────
Fund balance at 5th April 2025 11,940,264 1,566 11,941,830 12,156,296 1,566 12,157,862
═══════ ═══════ ═══════ ═══════ ═══════ ═══════

8

Society of All Saints

Balance Sheet at 5th April 2025

Total
Note 2025 2024
£ £
Fixed assets
Properties 4 3,545,170 3,472,684
Fixtures and fittings 4 58,752 60,954
Motor vehicles 4 105 2,062
─────── ───────
3,604,027 3,535,700
Investment property 4 634,950 545,000
Investments 5 7,011,582 7,310,739
Deposit fund 143,352 159,888
─────── ───────
11,393,911 11,551,327
─────── ───────
Current assets
Loan to The Porch 500,000 500,000
Debtors 6 133,263 134,892
Bank and cash 91,206 115,899
─────── ───────
724,469 750,791
Current liabilities
Creditors 7 (176,550) (144,256)
─────── ───────
Net current assets 547,519 606,535
─────── ───────
Net assets 11,941,830 12,157,862
═══════ ═══════
Accumulated funds
Restricted 12 1,566 1,566
Unrestricted 11,940,264 12,156,296
─────── ───────
11,941,830 12,157,862
═══════ ═══════

Rev Dr Andew Allen Trustee …………………….. 2025

9

Society of All Saints

Cash Flow Statement for the year ended 5th April 2025

2025 2024
£ £
Net cash flow from operating activities:
(Deficit)/surplus (216,031) 125,240
Losses/(gains) on investments and fixed assets 196,854 1,000,760
Depreciation 25,904 27,322
(Increase)/ decrease in debtors 1,629 (12,922)
Increase/(decrease) in creditors 32,295 (25,979)
Sisters loan movement - 5,385
__ __
40,651 1,119,806
Investing activities:
Expenditure on tangible assets (118,677) (1,610,097)
Receipts on sale of tangible assets 36,800 376,922
__ __
Increase/(decrease) in cash balances (41,226) (113,369)
══════ ══════
2025 2024 Movement
£ £ £
Investment Brokers 143,352 159,888 (16,536)
Bank balances 90,319 115,064 (24,745)
Cash 890 835 55
__ __ __
234,561 275,787 (41,226)
══════ ══════ ══════

10

Society of All Saints

Notes to the Accounts

for the year ended 5th April 2025

1. Accounting policies

The following accounting policies have been used consistently in dealing with items considered material in relation to the Society's accounts.

Basis of preparation

The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Charity constitutes a public benefit entity as defined by FRS 102.

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

Incoming resources

All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. Pensions include the sisters’ state and occupational pensions.

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established. Rental deposits are held on trust by solicitors and therefore are only reflected when not returned to the tenant.

Donations

Cash donations are credited to the Income and Expenditure Accounts as received. Items (with the exception of land and buildings) donated to the Society are not included in these accounts because the difficulty in establishing a fair value for this purpose outweighs the benefit that would be obtained. A significant contribution is made by volunteers throughout the year and the value of these donated services is not reflected in the accounts.

Tax recoverable

Tax recoverable on amounts received by way of gift aid is included in the accounts when receivable.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.

Fundraising costs are those incurred in seeking voluntary contributions. Governance costs are those incurred in connection with administration of the Charity as a legal entity and are not connected with generating income or charitable expenditure.

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure.

11

Society of All Saints

Notes to the Accounts for the year ended 5th April 2025

1. Accounting policies (continued)

Tangible fixed assets

These assets are shown at cost less accumulated depreciation.

Depreciation of fixed assets is calculated using the following rates and bases which are appropriate to the useful life of the asset and its residual value:

Buildings Nil – 6.67% straight line Fixtures, fittings and equipment 15% reducing balance Motor vehicles 25% reducing balance Computer equipment 33 1/3% straight line Double glazing 5% reducing balance

Surpluses or deficits arising on the disposal of fixed assets are adjusted in the result for the year.

Investment property

The property held as an investment is included at a market value having regards to its existing use with reference to similar properties in the local area.

Investments

Investments are included in the accounts at fair value at the year end. Gains or losses arising on revaluation are recognised in the Statement of Financial Activities as unrealised gains or losses. Gains or losses arising on disposal are recognised in the Statement of Financial Activities as realised gains or losses.

Restricted funds

Restricted funds are subject to specific conditions imposed by the donor or by the terms of an appeal, these conditions being legally binding upon the Trustees.

2. Donations and Gifts

Total Total
2025 2024
£ £
Donations 1,152 573
Legacies 1,315 558
Gifts from visitors - 9,791
───── ─────
2,467 10,922
═════ ═════
Resources expended
Community Community
2025 2024
£ £
Wages and salaries 98,107 88,952
Operating costs 213,748 119,645
Establishment 109,734 104,486
Administration 68,309 81,776
Depreciation 25,904 27,320
───── ─────
515,802 422,179
═════ ═════

3. Resources expended

12

Society of All Saints

Notes to the Accounts for the year ended 5th April 2025

3. Resources expended (continued)

During the year the resources expended relate to unrestricted expenditure with no restricted expenditure (2024: £nil). A further breakdown of the categories in Note 3 are detailed in the Income and Expenditure Account on page 19.

4. Fixed assets

Cost:
At 6th April 2024
Additions during the year
Disposals during the year
At 5th April 2025
Depreciation:
At 6th April 2024
Charged in year
Eliminated on disposals
At 5th April 2025
Net book value:
At 5th April 2025
At 5th April 2024
Properties (at cost)
Freehold
All Saints Convent, St Mary's Road, Oxford
The Old School
Winson School House, Bibury
44 Denmark Street
Flat 46 Leadon Bank, Orchard Lane, Ledbury
Total		 Fixtures,
Fittings &
Motor
Properties
Equipment
Vehicles
Total
£
£
£
£
4,488,515
429,922
16,709
4,935,146
110,000
8,677
-
118,677
(21,470)
(2,795)
(10,800)
(35,065)
4,577,045
435,804
5,909
5,018,758
1,015,831
368,968
14,647
1,399,446
16,044
9,825
35
25,904
-
(1,741)
(8,877)
(10,618)
1,031,875
377,052
5,805
1,414,732
3,545,170
58,752
104
3,604,026
3,472,684
60,954
2,062
3,535,700
2025
2024
£
£
2,392,165
2,392,165
474,880
474,880
-
21,470
1,600,000
1,600,000

110,000
-
───────
───────
4,577,045
4,488,515
═══════
═══════

Investment Property

Bryntirion, Oxford was reclassified from fixed assets where it had been included at a cost of £45,682 in the year ended 5th April 2020. It was revalued in the year ended 5th April 2021 by £499,318 to £545,000. As at the year ended 5th April 2025 the value of Bryntirion, Oxford was considered to be £634,950 (2024: £545,000).

13

Society of All Saints

Notes to the Accounts for the year ended 5th April 2025

5. Investments
2025 2024
Market Market
Value Value
£ £
Total
The Central Board of Finance of the Church of England
194,420 units investment fund
(2024: 194,420 units) 4,329,383 4,524,231
596,959 units property fund
(2024: 596,959 units) 724,649 714,142
643,592 units global equity fund
(2024: 643,592 units) 1,957,550 2,072,367
─────── ───────
7,011,582 7,310,740
═══════ ═══════
Total Total
2025 2024
£ £
Valuation at 6th April 2024 7,310,740 7,621,925
Withdrawal - (1,000,760)
Unrealised (losses)/gains (299,158) 689,575
─────── ───────
Valuation at 5th April 2025 7,011,582 7,310,740
═══════ ═══════
6. Debtors
2025 2024
£ £
Investment income 52,620 57,080
Prepayments 17,193 11,931
Other debtors 63,450 65,881
─────── ───────
133,263 134,892
═══════ ═══════

14

Society of All Saints

Notes to the Accounts

for the year ended 5th April 2025

7. Creditors

Creditors
2025 2024
£ £
Trade creditors 17,748 2,622
Accruals 27,333 9,000
Other creditors 1,840 2,647
Interest free loan 128,385 128,385
Taxation and social security 1,244 1,601
───── ─────
176,550 144,256
═════ ═════

As at the year end included in creditors are interest free loans which are repayable on resigning from the Society of All Saints to Sister Jane Rapheal £120,000 (2024: £120,000) and Sister Margaret Anne £8,385 (2024: £8,385).

8. Wages and salaries

The average number of employees in total during the year was:

2025 2024
Number Number
Total
Full time 1 1
Part time 4 5
───── ─────
Total 5 6
═════ ═════
Staff costs were as follows:
Wages and salaries 99,209 98,670
Redundancy 6,797 -
Social security 2,348 1,822
Pension costs 7,754 7,810
Recoveries (18,000) (19,350)
───── ─────
98,107 88,952
═════ ═════

No employee received more than £60,000 during the current or preceding year.

The Society of All Saints contributes to an externally administered pension scheme (The Pensions Trust’s Growth Plan “The Scheme”) on behalf of its staff. The scheme is a multi employer scheme and the Charity is unable to identify its share of the underlying assets and liabilities of each scheme on a consistent and reliable basis. Therefore, the Charity accounts for the schemes as if they were a defined contribution scheme. As a result, the amount charged to the income and expenditure account represents the contributions payable to the scheme in respect of the accounting period.

Society of All Saints paid contributions at the rate of 6% during the accounting period. Members paid contributions at the rate of 6% during the accounting period.

15

Society of All Saints

Notes to the Accounts for the year ended 5th April 2025

8. Wages and salaries (continued)

Qualified actuaries periodically value the scheme, using the “projected unit” method. The financial assumptions were derived from market conditions prevailing at the valuation date. The results of the latest triennial valuation are outlined below:-

Valuation date 30/09/23 Assets £515 million Amount needed to provide £531 million Shortfall £16 million Funding level 97%

The Pensions Trust notified the Society of the estimated employer debt on withdrawal from the Scheme based on the financial position of the Scheme as at 30 September 2024. As of that date, the estimated potential employer debt for Society of All Saints was £13,664 (2024: £12,368).

The Society continues to contribute an additional £1,040 per annum (2024: £1,248 per annum). This will reduce further to £914 per annum in 2025/26.

9. Trustees’ remuneration

No remuneration or expenses were paid to any of the Trustees during this or the preceding year.

10. Auditors’ remuneration

Auditors’ remuneration
2025 2024
£ £
Audit and accounts 9,600 9,000
Client services 1,733 1,625
═════ ═════

11. Net assets by fund

Net assets by fund
Unrestricted Restricted
funds funds Total
£ £ £
Fund balances at 5th April 2025
were represented by:
Tangible fixed assets 3,604,027 - 3,604,027
Fixed asset investments 7,789,884 - 7,789,884
Current assets 722,903 1,566 724,469
Current liabilities (176,550) - (176,550)
─────── ─────── ───────
11,940,264 1,566 11,941,830
═══════ ═══════ ═══════

16

Society of All Saints

Notes to the Accounts for the year ended 5th April 2025

11. Net asset by fund (continued)

Net asset by fund (continued)
Unrestricted Restricted
funds funds Total
£ £ £
Fund balances at 5th April 2024
were represented by:
Tangible fixed assets 4,080,700 - 4,080,700
Fixed asset investments 7,470,627 - 7,470,627
Current assets 749,225 1,566 750,791
Current liabilities (144,256) - (144,256)
─────── ─────── ───────
12,156,296 1,566 12,157,862
═══════ ═══════ ═══════
Restricted funds
Gift Sinking Total
fund fund
£ £ £
Balance at 6th April 2025 1,566 - 1,566
Income - 67,500 67,500
Transfer to the Society - 67,500 (67,500)
─────── ─────── ───────
Total net assets 1,566 - 1,566
═══════ ═══════ ═══════
Gift Sinking
Total
fund fund
£ £ £
Balance at 6th April 2024 1,566 - 1,566
Income - 67,510 67,510
Transfer to the Society - (67,510) (67,510)
─────── ─────── ───────
Total net assets 1,566 - 1,566
═══════ ═══════ ═══════

12. Restricted funds

St John’s Home was run as a separate fund until the operation of the Home was transferred to a new proprietor at the end of September 2016.

Some funds relating to St John’s Home have specific restricted purposes, firstly a gift fund now standing at £1,566 which is to be spent for the benefit of residents of the home and secondly a sinking fund which has been agreed under the lease to be spent on certain service costs revolving around the maintenance of the fabric of the building to be funded by annual contributions from the tenant. As at 5th April 2025, expenditure from the sinking fund amounted to £67,500. The maximum costs to be refunded by 30th September 2025 under the lease was £675,000 and this total has thus now been reached. Past expenditure to be reimbursed from future contributions totals £293,542.

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Society of All Saints

Notes to the Accounts

for the year ended 5th April 2025

13. Related party transactions

A Sister in the Society is a director of Helen & Douglas House. The Society refunded rent of £10,000 (2024: refunded £10,028) to Helen & Douglas House in the year ended 5th April 2025. The Society paid Helen & Douglas House expenses of £50 in the year (2024: £275). During the year Helen & Douglas house were recharged maintenance costs associated with use of the communal garden of £nil (2024: £1,350).

During the year St John’s Home were recharged maintenance costs associated with use of the communal garden of £12,600 (2024: £12,600).

The Society paid £10,100 to The Porch in the year (2024: £12,000). It also has lent The Porch £500,000 pending the disposal of its property in year ended 31st March 2020. The results of the Porch are not consolidated into these accounts.

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Society of All Saints

General Fund Income and Expenditure Account for the year ended 5th April 2025

2025 2024
£ £
Income
Investment income 222,349 252,343
Rents 139,360 153,777
Service charges 67,500 67,510
Gifts from visitors 1,315 9,791
State and other pensions 64,595 62,844
Donations 1,152 1,131
Other income 353 23
────── ──────
496,624 547,419
Expenditure
Wages and salaries 98,107 88,952
────── ──────
Operating costs
Catering 11,507 14,679
Housekeeping 4,835 3,267
Sister’s Allowances 9,879 10,997
Medical and nursing care 2,714 3,506
Chapel 322 746
Winson 5,421 4,232
London 111,438 33,592
Charity 63,524 42,238
Training and conferences 4,108 6,388
────── ──────
213,748 119,645
────── ──────
Establishment
Water and council tax 19,305 11,722
Light and heat 19,698 20,646
Insurances 20,356 14,474
Repairs 33,247 52,038
Garden (exc. wages) 17,129 5,606
────── ──────
109,734 104,486
────── ──────
Administration
Motor and travel 4,714 4,259
Postage and stationery - -
Telephone 3,809 3,325
Professional 51,212 67,419
Miscellaneous 7,904 5,898
Bank charges 669 875
────── ──────
68,308 81,776
────── ──────
Depreciation 25,904 27,320
────── ──────
Total expenditure 515,802 422,179
────── ──────
Surplus/(deficit) before investment changes (19,178) 125,240
Profit on sale of tangible assets 12,354 376,922
Investment (losses)/gains (209,208) 689,574
────── ──────
(Deficit)/surplus before transfers (216,032) 1,191,736
══════ ══════

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