REGISTERED CHARITY NUMBER: 230927
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
FOR
ST SAVIOUR'S PRIORY
Averillo & Associates
Chartered Accountants
16 South End
Croydon
Surrey
CR0 1DN
ST SAVIOUR'S PRIORY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
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Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 11
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ST SAVIOUR'S PRIORY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2021
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended5April2021. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicablein the
UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims for the public benefit
St.Saviour'sPrioryishometosevenSistersoftheSocietyofSt.Margaret(anAnglicanCommunity).TheSistersof the
SocietyarecalledbyGodtofollowourLordJesusChristandtodevoteeveryfacultyofbody,mindandspritto Him.
They are set free to respond to his call by the three traditional vows of Poverty, Chastity and Obedience.
Infulfilmentofthiscalling,theSistersseektoloveandserveChristineachotherinthecommonlifeandgoout to
meetHiminallpeople.TheSistersoutreachtothelocalcommunityincludesworkingasstaffmembersin various
parishes;supportingissuesofjusticeandracialequality;thehomeless;thesexuallyabused;retreatsand individual
spiritual direction; the creative arts. All the Sister's work is done free of charge.
TheSistersarealsocalledtoaministryofwelcome,sharingtheircommunitybuildingandresourcesofworship and
spacewithindividualsandgroups.Thisworkcontinueswithmanyindividualsandgroupsusingourpremises.Six or
seventimesayearweinvitelocalFriendstojoinusforaserviceintheChapelfollowedbyrefreshments.We have
previouslyofferedasitdownmealbutinfuturetheseeventswillbeheldattheweekendandintheevening to
facilitatereachingawidergroupofpeople.TheDunloeCentreisopenonemorningeachweekofferingfreefood and
clothingtothehomelessandthoseinneed.OurSundayStallisopenmostweekssellingsecondhandgoodsat very
reduced prices and creating an opportunity for fellowship and outreach.
Achievements and Performance - how the activities have delivered public benefit
Towards the fulfilment of our ministry in this part of London the work of the Priory is tailored towards:
-
The proclamation of the gospel imperative in favour of the poor
-
The development of the spiritual life of the local people and those who seek us out
-
To confront issues of social exclusion and foster social cohesion
-
To reach out to and bring relief to those in need as practically as possible
ThepastyearhasbeengreatlyaffectedbytherestrictionsimposedbytheCoronaviruspandemic.However,we have
been able to deliver on our objectives as follows :-
The Dunloe Centre
Ourweeklydrop-insessionshadtobesuspendedfrom24thMarch2020andhavenotyetreopened.However, we
havehelpedindividualcallersatthedoorwithgroceriesandclotheswhenrequested.Supportedthelocalfood bank
withregulardonationsofcannedanddriedgroceriesfromourstore.Supportedlocalinitiativestohelpthosein need.
Also, while the Dunloe Centre has been closed we have been able to redecorate the room and sort out the stock.
Guests and Groups
Sadly,duetothepandemic,wehavenotbeenabletowelcomeguestsorgroupsintoourpremises.But have
supportedindividualsbyphonecalls,letters,emailsetc;aswellasreceivingrequestsforprayers.Whilethe guest
rooms have been empty we have taken the opportunity to redecorate. Window repairs are in hand.
The Sunday Stall
Aswithourotheractivities,thishasbeensuspendedduetothepandemic.Individualshavebeenhelpedon a
one-to-onebasis.Majorreorganisationofstockhastakenplace.Wearejustbeginningtotakeindonationsagain in
preparation for reopening once some essential building repairs have been done.
Works in the community
TheworkofthePrioryhasalwaysbeenrootedinthelocalcommunity,and3Sistersstillworkinlocalparishes,two as
priests.AlthoughbasedinlocalchurchestheSistersoftenserveneedsinthewidercommunity.OneSisteroffers her
servicesincomplementarytherapy,usingthePrioryasabaseforhertreatments.Thisworkhascontinued when
lockdown restrictions have permitted.
The Sisters' ministries are all offered free of charge.
Page 1
ST SAVIOUR'S PRIORY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2021
FINANCIAL REVIEW
Thecharityrecordedasurplusof£9,870towhichmustbeaddedanunrealisedgainoninvestmentsof£374,479 to
arrive at a surplus of £384,349.
Principal Funding Sources
Asidefrominvestmentincometheprincipalfundingsourcesofthecharityarethesisters'contributionsand pensions,
contributions from the use of the Priory's facilities and donations.
Investment Policy
Thetrusteesconsiderfixedinterestgovernmentsecuritiesandspecialisedinvestmentsdesignedforthecharity sector
best meet the charity's need for income and capital growth.
Reserves Policy
TheTrusteeshaveestablishedareservepolicywherebyunrestrictedfundsaremaintainedatlevelswhichenable the
trusteestosupportthemaximumnumberofcharitableactivitieswhichcanbeundertakenbythecurrentnumber of
Sisters.
FUTURE PLANS
TheSistersareawareoftheirownchangingneedsandalsochangesintheneedsofthelocalcommunity.It is
importanttothemthatthePriorybuildingsareusedtothebestadvantage;thismayrequiresome substantial
re-ordering in the future; and in the meantime inevitably requires ongoing maintenance.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
TheTrustisanunincorporatedtrustconstitutedunderatrustdeeddated19November1891andisa registered
charitynumber230927.TheassetsofthePrioryareheldinaccordancewiththeStatutesofSt.Saviour'sPriory and
the Constitution and Rules of the Society of St. Margaret ( to which the priory is affiliated).
Recruitment and appointment of new trustees
InaccordancewiththestatutesofthecharitythemajorityoftheTrusteeshavetobemembersofthecommunity and
theseareelectedbyavoteofallsisters.Theothertrusteesarealsoelectedbythesistersandchosentobring other
skills to the charity.
Organisational structure
ThePriorydoesnothaveanypaidemployeesandallactivitiesandmanagementarecarriedoutbytheTrustees, the
Sisters and volunteers.
Induction and training of new trustees
MosttrusteesarealreadyfamiliarwiththepracticalworkofthecharitybeingmembersoftheSistersofthe Society
of St. Margaret. New Trustees who are not Sisters are fully briefed by the Sisters.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
230927
Principal address
St Saviour's Priory
18 Queensbridge Road
Haggerston
London
E2 8NS
Page 2
ST SAVIOUR'S PRIORY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2021
Trustees
Rev Mother Judith Blackburn
Sister Elizabeth Crawford
Mr Mark Laing
Sister Anna Huston
Mr Alexander Thorpe
Independent Examiner
Averillo & Associates
Chartered Accountants
16 South End
Croydon
Surrey
CR0 1DN
Bankers:
CafBank Limited
Kings Hill
West Malling
Kent
ME19 4TA
National Westminster Bank plc
P O Box 282
216 Bishopsgate
London
EC2M 4JH
Approved by order of the board of trustees on 7 June 2021 and signed on its behalf by:
Rev Mother Judith Blackburn - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
ST SAVIOUR'S PRIORY
Independent examiner's report to the trustees of St Saviour's Priory
IreporttothecharitytrusteesonmyexaminationoftheaccountsofStSaviour'sPriory(theTrust)fortheyear ended
5 April 2021.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutundersection145oftheActandin carrying
outmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharityCommissionundersection 145(5)(b)
of the Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnection with
the examination giving me cause to believe that in any material respect:
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 attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Peter Nellemose
Averillo & Associates
Chartered Accountants
16 South End
Croydon
Surrey
CR0 1DN
7 June 2021
Page 4
ST SAVIOUR'S PRIORY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Investment income
2
Total
EXPENDITURE ON
Raising funds
Charitable activities
Charitable activities
Other
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
2021
Unrestricted
funds
£
141,969
540
56,685
199,194
293
181,279
7,752
189,324
374,479
384,349
1,832,175
2,216,524 |
2020
Total
funds
£
131,745
7,350
75,093
214,188
1,034
172,297
7,823
181,154
(419,575)
(386,541)
2,218,716
1,832,175 |
|
|
|
The notes form part of these financial statements
Page 5
ST SAVIOUR'S PRIORY
BALANCE SHEET 5 APRIL 2021
Notes
FIXED ASSETS
Tangible assets
5
Investments
6
CURRENT ASSETS
Debtors
7
Cash at bank
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
9
Unrestricted funds
TOTAL FUNDS |
2021
Unrestricted
funds
£
74,461
1,950,881
2,025,342
5,102
189,065
194,167
(2,985)
191,182
2,216,524
2,216,524
2,216,524
2,216,524 |
2020
Total
funds
£
84,163
1,576,402
1,660,565
5,908
167,841
173,749
(2,139)
171,610
1,832,175
1,832,175
1,832,175
1,832,175 |
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon7June2021and were
signed on its behalf by:
Rev Mother Judith Blackburn - Trustee
Mr Mark Laing - Trustee
The notes form part of these financial statements
Page 6
ST SAVIOUR'S PRIORY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January 2019)',
FinancialReportingStandard102'TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland'andtheCharitiesAct2011.Thefinancialstatementshavebeenpreparedunderthehistorical cost
convention,withtheexceptionofinvestmentswhichareincludedatmarketvalue,asmodifiedby the
revaluation of certain assets.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothe funds,
it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccruals basis
andhasbeenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
Tangible fixed assets
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoveritsestimated useful
life.
Freehold property- 2% on cost
Fixtures and fittings- 10% on cost
Motor vehicles- at varying rates on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Fixed assets investments.
Fixed assets investments are shown at market value
continued...
Page 7
ST SAVIOUR'S PRIORY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021
2. INVESTMENT INCOME
Dividends from shares in UK listed companies
Interest on UK fixed interest securities
Deposit account interest |
2021
£
52,538
4,128
19
56,685 |
2020
£
70,054
5,002
37 |
|
|
75,093 |
3. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended5April2021norfortheyear ended
5 April 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2021 nor for the year ended 5 April 2020.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
|
Unrestricted |
|
funds |
|
£ |
INCOME AND ENDOWMENTS FROM |
|
Donations and legacies |
131,745 |
Charitable activities |
|
Charitable activities |
7,350 |
Investment income |
75,093 |
Total |
214,188 |
EXPENDITURE ON |
|
Raising funds |
1,034 |
Charitable activities |
|
Charitable activities |
172,297 |
Other |
7,823 |
Total |
181,154 |
Net gains/(losses) on investments |
(419,575) |
NET INCOME/(EXPENDITURE) |
(386,541) |
RECONCILIATION OF FUNDS |
|
Total funds brought forward |
2,218,716 |
TOTAL FUNDS CARRIED FORWARD |
1,832,175 |
continued...
Page 8
ST SAVIOUR'S PRIORY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021
5. TANGIBLE FIXED ASSETS
COST
At 6 April 2020 and 5 April 2021
DEPRECIATION
At 6 April 2020
Charge for year
At 5 April 2021
NET BOOK VALUE
At 5 April 2021
At 5 April 2020
FIXED ASSET INVESTMENTS
MARKET VALUE
At 6 April 2020
Additions
Disposals
Revaluations
At 5 April 2021
NET BOOK VALUE
At 5 April 2021
At 5 April 2020
There were no investment assets outside the UK.
Cost or valuation at 5 April 2021 is represented by:
Valuation in 2021 |
Freehold
property
£
485,078
400,915
9,702
410,617
74,461
84,163 |
Fixtures
and
fittings
£
204,286
204,286
-
204,286
-
- |
Motor
vehicles
£
6,315
6,315
-
6,315
-
- |
Totals
£
695,679
611,516
9,702
621,218
74,461
84,163
Listed
investments
£
1,576,402
46,335
(46,335)
374,479
1,950,881
1,950,881
1,576,402
Listed
investments
£
1,950,881 |
|
|
|
|
|
6. FIXED ASSET INVESTMENTS
continued...
Page 9
ST SAVIOUR'S PRIORY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021
7.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
9.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
199,194
TOTAL FUNDS
199,194
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
At 6.4.20
£
1,832,175
1,832,175
Resources
expended
£
(189,324)
(189,324)
At 6.4.19
£
2,218,716
2,218,716 |
2021
£
5,102
2021
£
2,985
Net
movement
in funds
£
384,349
384,349
Gains and
losses
£
374,479
374,479
Net
movement
in funds
£
(386,541)
(386,541) |
2020
£
5,908
2020
£
2,139
At
5.4.21
£
2,216,524 |
2020
£
5,908 |
|
|
|
|
2020
£
2,139 |
|
|
|
2,216,524 |
|
|
|
|
Movement
in funds
£
384,349
384,349
At
5.4.20
£
1,832,175 |
|
|
|
|
1,832,175 |
|
continued...
Page 10
ST SAVIOUR'S PRIORY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2021
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
Resources
Gains and
Movement
resources
expended
losses
in funds
£
£
£
£
214,188
(181,154)
(419,575)
(386,541)
214,188
(181,154)
(419,575)
(386,541) |
|
|
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
At 6.4.19
£
2,218,716
2,218,716 |
Net
movement
in funds
£
(2,192)
(2,192) |
At
5.4.21
£
2,216,524 |
|
|
|
2,216,524 |
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
Resources
resources
expended
£
£
413,382
(370,478)
413,382
(370,478) |
Gains and
Movement
losses
in funds
£
£
(45,096)
(2,192)
(45,096)
(2,192) |
Gains and
Movement
losses
in funds
£
£
(45,096)
(2,192)
(45,096)
(2,192) |
|
|
|
(2,192) |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2021.
Page 11