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2021-12-31-accounts

Charity registration number 230551

THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF THE BLESSED VIRGIN

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

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THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF THE BLESSED VIRGIN

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Miss M.T. Sclafer Miss V Margron Miss M F Velasquez Maya

Charity number 230551 Registered office Presentation Convent Flat 7 Sturges Court 70 Sturges Road Wokingham Berks RG40 2HB

Independent examiner Darren Harding ACA FCCA DChA Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT

THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF THE BLESSED VIRGIN

CONTENTS

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Page
Trustees' report 1-2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6-13
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THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF THE BLESSED VIRGIN TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their annual report and financial statements for the year ended 31 December 2021,

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Trust deed, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

For such charitable purposes as shall advance the religious and other charitable work of the Roman Catholic Religious Congregation of women known as Dominican Sisters of Charity of the Presentation of the Blessed Virgin ("The Congregation") in Great Britain and elsewhere as the trustees shall form time to time think fit or if at any time the congregation shall cease to exist or shall cease to carry on religious or other charitable work then for such other lawful charitable purposes as the trustees shall determine. ;

Significant activities

The Congregations declared purpose is to undertake any charitable work in Great Britain including giving service to the parish, instruction to the youth and providing care for the sick and poor.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

We are still living in rented accommodation in Sturges Road. The owners are quite happy with us being there and are willing to let us rent the flat as long as we need it.

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The Convent was sold on January 17th 2014, The Diocese bought the plot at the rear, for St Teresa's School, next to the Convent. The rest of the buildings and Convent were sold to a developer. The main house had to keep its frontage as it is listed, having been built by the Morris Family, architects from Wokingham. The new complex is now called "Chapel Gate". All the work has been done very sensibly and with great sensibility, eg: the foundation stone of the building in 1904, is now part of the outside wall of the property.

The School keeps a right of way to Sturges Road through a passage adjacent to the Church. The land where it is built was also sold to the Diocese, the same way as the School. There is a very good relationship now between School and Parish and the Sisters are made particularly welcome in both,

Sr Veronica (L.M. Jackson) remains in the Nursing Home where she is given as good a care as possible in spite of the circumstances. She has become very feeble and lost a lot of weight. But her mind is still very alert and she takes interest in all that is happening. For a long period of time we were unable to visit her, making it up by numerous telephone calls, every day (even playing games on the phone!), Lately, we were able to visit her in her room for 30 minutes twice a week, after rigorous testing, although we were all vaccinated; this had helped a little. However, we are now able to visit her every day as usual, respecting the Home regulations. We also have her for a short while in the afternoon, in the flat, about every other week. It is not as good as before but it greatly helps.

Sister Mary Bernadette (Joan COONEY) and Sister Thérése (M-T SCLAFER) have had to adapt to the demands imposed by the Pandemic. “Presence” and “listening ear” are now by telephone and, above all, by emails. We continue the “Prayer Card Intentions” and have reached a great number of people, from the Parish, the Town, or further afield, who are elderly, on their own, bereaved, or just wanting a contact. A great spiritual approach and a great reward, which we plan to continue as much as possible in the future.

Sadly, after the year end date Sister Mary Bernadette passed away. Thus, being a recent event, the trustees are currently working through a plan to adjust the activities of the charity accordingly.

Financial review

Net operating incoming resources for the year totaled £60,456 (2020 outgoing resources - £62,116) as shown on the statement of financial activities on page 4 of the accounts. The trustees are confident that there are sufficient resources available for the charity to continue to operate for the foreseeable future.

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THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF THE BLESSED VIRGIN

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level to represent the future cost of running the convent, enabling the trustees to continue to meet the objects of the charity. The trustees deem this level to be equivalent to approximately 12 months expenditure.

The trustees have the power to invest in such assets as they think fit. The trustees have engaged Charles Stanley as investment managers.

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error,

Trustees have given consideration to the Charities SORP (‘Statement of Recommended Practice’) Committee's advice in its publication ‘Implications of COVID-19 Control Measures and Charity Financial Reporting’ and to the risks arising as a result of the coronavirus pandemic. The Charity is actively monitoring and managing the situation as it develops.

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Structure, governance and management

The Dominican Sisters of the Presentation were founded by Marie Poussepin in 1696 at Sainville in France. The congregation's declared purpose is to undertake any charitable work in Great Britain including giving service to the parish, instruction to the youth and providing care for the sick and poor. The charity is regulated by a trust deed dated 8 December 1958. The charity is registered with the Charity Commissioners under registration number 230551. On 10 August 1993 the trustees were incorporated in the name of ‘Presentation Convent Trustees Incorporated’. The trustees hold the authority to appoint new trustees.

The trustees who served during the year and up to the date of signature of the financial statements were: Miss M.T, Sclafer

Miss J Cooney (Deceased 20 August 2022) Miss V Margron Miss M F Velasquez Maya

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Asset cover for funds Note sets out an analysis of the assets attributable to the various funds and a description of the trusts. These assets are sufficient to meet the charity's obligations on a fund by fund basis.

The trustees' report was approved by the Board of Trustees.

Miss M.T. Sclafer Trustee Dated: AR (0-202 y

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THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF THE BLESSED VIRGIN

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE DOMINICAN SISTERS OF CHARITY OF THE : PRESENTATION OF THE BLESSED VIRGIN

I report to the trustees on my examination of the financial statements of The Dominican Sisters of Charity of the Presentation of the Blessed Virgin (the charity) for the year ended 31 December 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination J have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

1 understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Darren Harding ACA FCCA DChA

Richard Place Dobson Services Limited

1-7 Station Road Crawley West Sussex RH10 1HT

Dated: pshalro2~

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THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF THE BLESSED VIRGIN

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted Unrestricted Total Unrestricted Unrestricted Total
funds funds funds funds
general designated general designated
2021 2021 2021 2020 2020 2020
Notes £ £ £ £ £ £
Income from:
Donations and legacies 3 5,733 - 5,733 3,357 - 3,357
Charitable activities 4 53,726 - 53,726 55,787 - 55,787
Investments 5 28,296 - 28,296 23,149 - 23,149
Total income 87,755 - 87,755 82,293 - 82,293
Expenditure on:
Raising funds 6 6,597 - 6,597 6,577 - 6,577
Charitable activities 7 82,614 - 82,614 86,757 - 86,757
Total expenditure 89,211 - 89,211 93,334 - 93,334
Netgains/(losses) on
investments		 11 61,912 - 61,912 (51,075) - (51,075)
Net incoming/(outgoing)
resources before transfers 60,456 - 60,456 (62,116) - (62,116)
Gross transfers between
funds (73,775) 73,775 - 71,050 (71,050) -
Netexpenditure for theyear/
Netmovement in funds (13,319) 73,775 60,456 8,934 (71,050) (62,116)
Fund balances at 1 January2021 2021 62,733 757,884 820,617 53,799 828,934 882,733
Fund balances at31 December
2021 49,414 831,659 $81,073 62,733 757,884 820,617

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF THE BLESSED VIRGIN

BALANCE SHEET

AS AT 31 DECEMBER 2021

2021 2020
Notes £ £ £ £
Fixed assets
Investments 12 831,659 757,884
Current assets
Debtors 14 1,898 1,396
Cash atbankand inhand 52,133 65,954
$4,031 67,350
Creditors: amounts fallingduewithin one
year 15 (4,617) (4,617)
Net current assets 49,414 62,733
Total assets less current liabilities 881,073 820,617
Income funds
Unrestricted funds - designated 16 831,659 757,884
Unrestricted funds - general 49,414 62,733
881,073 820,617

The financial statements were approved by the Trustees on A P2102 DL

Miss M.T. Sclafer Trustee

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THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF THE BLESSED VIRGIN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019), The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

12 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

13 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements,

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1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Charitable activities includes sisters income and is recognised in the period to which it relates which is when the charity becomes entitled to the resource,

Donations and similar incoming resources are included in the year in which they are receivable which is when the charity becomes entitled to the resource.

Income from investments is included in the SOFA in the year in which it is receivable which is when the charity becomes entitled to the resources

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THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF THE BLESSED VIRGIN

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

(Continued)

15 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use,

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following headings:

Charitable expenditure includes those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. I¢ includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs includes those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.

Support costs assist the work of the charity but are not directly attributable to charitable activities. Support costs include finance and governance costs which support the charity's artistic programme and activities. These costs have been allocated between costs of raising funds and expenditure on charitable activities,

: 1.6 Fixed asset investments Investments are initially recognised at their transaction value and subsequently measure at the market value at the balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. The trust does not acquire or use put options, derivatives or other complex financial instruments. All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales and proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised gains and losses are combined in the Statement of Financial Activities.

1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Basicfinancial assets

Debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any discounts due.

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THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF THE BLESSED VIRGIN

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

Basicfinancial liabilities

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably results in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.

19 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent fiom other sources, The estimates and associated assumptions are based on historical experience and other factors that are considered to be releyant, Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised wheve the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

Investment valuation

Valuation of investments at market value - based on calculation by the investment fund manager, The investments held are all shares listed on a recognised stock exchange and have an easily identifiable market value.

Unrestricted Unrestricted
funds funds
general general
2021 2020
£ £
Donations and gifts 5,733 3,357
Religious
activity		 Religious
activity
2021 2020
£ £
Sisters pensions 53,726 55,787

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THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF

_ THE BLESSED VIRGIN

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

§ Investments
Unrestricted Unrestricted
funds funds
general general
2021 2020
£ £
Incomefrom listed investments 28,095 22,983
Interest receivable 201 166
28,296 23,149
6 Raising funds
Unrestricted Unrestricted
funds funds
general general
2021 2020
£ £
Investmentmanagement 6,597 6,577
6,597 6,577

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THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF THE BLESSED VIRGIN

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

7 Charitable activities

Religious Religious
activity activity
2021 2020
£ £
Staff costs 3,210 1,885
Rent 12,446 12,371
Insurance 372 107
Light, heatand rates 2,744 3,150
PPS and telephone 3,105 5,361
Carehome 38,163 37,601
Household consumables 15,825 12,390
Donations and gifts 678 612
Travel 280 604
76,823 74,081
Shareofsupport costs (seenote 8) 91 82
Shareofgovernance costs (see note 8) 5,700 12,594
82,614 86,757
8 Support costs
Support costs Governance 2021 Support costs Governance 2020
costs costs
£ £ £ £ £ £
Bankcharges 91 - 91 82 - 82
Accountancy and legal fees - 5,700 5,700 - 12,594 12,594
91 5,700 5,791 82 12,594 12,676
Analysed between
Charitableactivities 9] 5,700 5,791 82 12,594 12,676

Governance costs includes payments to the Independent examiner of £3,600 (2020- £3,600).

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

The trustees are also members of the community. Members are maintained by the charity and premises, meals and other living expenses are paid by the charity. The trustees did not receive any remuneration for their services or receive any reimbursement of expenses.

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THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF THE BLESSED VIRGIN

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

10 Employees

The average monthly number of employees during the year was:

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|||||| |---|---|---|---|---| |2021|2020| |Number|Number| |1|1| |Employment costs|2021|2020| |£|£| |Wages|and|salaries|3,210|1,885|

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There were no employees whose annual remuneration was more than £60,000,

11 _—— Net gains/(losses) on investments

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||||| |---|---|---|---| |Unrestricted|Unrestricted| |funds|funds| |general|general| |2021|2020| |£|£| |Gain/(loss)|on sale of investments|61,912|(51,075)|

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THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF THE BLESSED VIRGIN

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

12‘ Fixed asset investments

Listed
investments
£
Cost orvaluation
At 1 January 2021 757,884
Additions 70,811
Valuationchanges 63,000
Disposals (60,036)
At31 December2021 831,659
Carryingamount
At31 December2021 831,659
At31December2020 757,884
13. Financial instruments 2021 2020
£ £
Carrying amount offinancial assets
Instruments measured at fairvaluethrough profit or loss 831,659 757,884
14 Debtors
2021 2020
Amounts fallingduewithin one year: £ £
Otherdebtors 1,898 1,396
15 Creditors: amounts fallingduewithin oneyear
2021 2020
£ £
Accrualsanddeferredincome 4,617 4,617

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THE DOMINICAN SISTERS OF CHARITY OF THE PRESENTATION OF THE BLESSED VIRGIN

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

16 Unrestricted funds - designated

These are unrestricted funds which are material to the charity's activities made up as follows:

Movement in
funds
Balance at Transfers Balance at Incoming Balance at
1 January 1 January resources 31 December
2020 2021 2021
£ £ £ £ £
Retirement fund 828,934 (71,050) 757,884 73,775 831,659
17 Analysis ofnetassets between funds
Unrestricted Designated Totat Unrestricted Designated Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
Fund balances at31
December 2021 are
represented by:
Investments - 831,659 831,659 - 757,884 757,884
Current assets/(liabilities) 49,414 - 49,414 62,733 - 62,733
49,414 831,659 881,073 62,733 757,884 820,617

18 Related party transactions

There were no disclosable related party transactions during the year (2020 - none).

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