``` 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`** **----- Start of picture text -----**
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 ```