REasfERED CHARITY NUIABER: 230927 REPORT OF THE TRusfEES AND UNAUDITED FINANCIAL sfATEAIENTS FOR THE YEAR ENDED S APRIL 2024 FOR sr SAVIOUR'S PRIORY Able & Yourtg Chartered Certified Accountants Alrport House Purley Way Croydon Surrey CRO OXZ
sr SAVIOUR'S PRIORY CONTE15 OF THE FINANCIAL sfATEMEprrs FOR THE YEAR ENDED 5 APRIL 2024 Page Report af the Trustees Independent Examlnerfs Report statement of Flnandal Actmtles Balance Sheèt Notes to lh• Flmndal Statements 7 to 11 Detalied Statement of Flnanclal Atdvlttes 12 to 13
sr SAVIOUR'S PRIORY REPORT OF THE TREE5 POR THE YEAR ENDED 5 APRIL 2024 The tsus¢ees present they report with the fi"rwKial staterrts of the chartiy for ihÈ year enthd 5 April 2024. The tnjstees have adopted the provisKffiS of kcounithg ReFKrting by Ch1t1P5. statet of Reconwnended Prartice ppiicabie to tharities prepadng Ihew accounts in accordance with the FinwKlal Reporting Standard apdicable In the UK and Wt4ic of Ireland IFRS 1021 leffective l JanLWry 20191. oEcnVES AND ACTNMES Objectlve5 and alms for the publk benefft St. Savlourfs Priory is to seven Slsters of Scckty of St. Maryaret la recogn15ed Anglican ReLiglou5 Comllwnityl. The Slsiers of the &xiety are caued by Gc¥J to follow cw Ltd Jesus Christ and to devote every faculty of W. mind and spirit to Hfm. are set free to rE4xd to hts call ty three trath"ilLal vows of Poverty, Chastity and thethence. In fulfllment of th15 calllng. the 5istsrs seek to love and serve Chrtst in each other In conThn Ilfe jnd go out meet HIM In all people. The Sf51ers OutaCh to the tocaL commnity irKludes worknng as staff Itnber5 In vartous parishes. SUPPOrting 155ue5 of justice WKE r3thÈ1 e<wlity. eleSs. the sexually abused; retreats and indfvsdual splrltual directlon: the creative arts. Ail the Slrterfs work is free of charge. The Sister5 are also called to a ministry of weice4ne. they comrtY 1rva and reswrce5 of worship and space with indivkluals and 8roup5. conriM with w INJlvfjduais and grc¥Jps USI our premi5e5. fyjests and Groups We offer guest acCoMrrt1¢)Th and weiccrt sSts and grrrtP5. Tr Dvjin f(w of ow gltst tthkings have been Local people rewesting Space for quiet I retreat days. We hève al extended our h05p1lity to mDre long-term residents requirTng accommt&tion w enable them to th in the l(KJl area for rvi-profit I thlrLI sector organlsatlLW work Is In I wr cbjertfves. Thts incith wixkir4 Vrith refugee¥ i(1 clwhes and chaplaiKies, aThJ In areas of 50tlai justi. Four tirnes a ythr we inre local Friends to Join us for J 5eThke In the Chapel followed by refreshments. DunLoe Centre offers a besrAike 5ervlce to indmduals as need aTi5e5. This alluNs the SfjSte to offer a one to one seryte of practical help le.g. f¢xd par1$, clothing etc.) and also .going for rnre complex needs. The gjnday Stall 15 open n$t weeks. This is a drIn facillty hthich offer5 cheap thnated, second hands goods. ihe opw)rtuniiy for people to meet logether L¥) an inforrnal basi5. It attracts a r3r¥ge of Feopte from different backgrounds and with va( and ofttn muliiple needs. Towartls the fulfllment of our ministry fn this part of Lcffidcffi ihe of the Prrory ts tallored towards: . The woclamation of the gospel imperatfve in favwr of Ir - The development of the spiritual life of the Local peolde and those seek u5 (xit . To confront issue5 of Sla1 excluslon and foster la[ cohesx)n . To read) out to and brlry relief to those in need as FYattKaLiy as 55Le The Inltlatlves a5 Set oul aVe (Dunloe cent eic.) illustrate the wactKal iKarnation of these airr6 and asplrations. The work of the Prw)ry has always teen r(ted the le<al c(r*rlity and, altwh hi5torkaily this work has based in local chwches the Si5ter5 often serye needs in the wfder c¢yMwnity aly). The Sisters. minislrfe5 are all offered free of charge. as ts the majority of accorTwrbJaticffi. Page I
ST SAVIOUR'S PRIORY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 FINANaAL REVIEW The charity recorded a deflclt of £5,977 to whTch must be added to an unrealised Ios5 on inve5trnenis of £2.116 to reach at a deflcit of £8,093. Principal Funding Source5 Aside from Investment income the pndPa1 fundlnf sources of the chthty are the sisters. <onlribution5 ond pensions. contrfbulions from the USE of the Pri0$ facilltle5 and donations. Invertment Policy The trustees eonslder fixed Interest government 5ecurilies and specla115ed Invertments de514ned for ihe charlty sector best meet the charltls need for incomè and capital growth. Reserves Pollcy The Trustees have establlshed a reserye polky whereby unregttlcted funds are malntalned at levels which enable the trustees to support the m&%lmum Dumber of charltable aclivTIiE5 whlch can be undertaken by the current number of Sisters. FUTURE PLANS The Sislers are aware of their owTr changing nEed5 and also changes in the [ed$ of the local comrTuJnity. It Is imwrtant to them thal the Priory bullthngs are used to the best athiantage. thfjs may require some substanLial re.ordethg In the future. and In the m2antlme inevitably requlres othgolng maintenance. srRUCTURE. GOVERNANCE AND IAANAGEMEKr Governlng document The Trust is an unincorpyjrnted trust con5tltuted under a trust deed daled 19 NDvember 1891 and Is a reglstered charity nurnber 230927. The assets of ihe Prlory are he in accordarte with the Statute5 of St. Savi(NJrfs Priory and the Constitution and Rule5 of the kniety of St. Margaret Ito which the priory15 afflllatedl. RecrtM•D¢ and appolntment of new trU5t In accordance wilh the $tu(e$ of the charity the majority of the Trus5 haye to be members Df the community and these are elerted by a vole of all sisters. The other trustees a also elected by the slsters and chosen to brfjng other skllls io the charlty. Organls)tlonal Structurè The Ptriory does not have any paid empLoyee5 and all aclivllle5 and rnana8ent are carrfed out by the Trustees, the Sisters and vglunteers. Inductlon and tralnlng of trustees t trustees are alrea¢ty famlllar wfjth the practlcal work of the charity belTh4 members of the Sisters of the Society of St. Margaret. New TNstee5 who are Tr)t Slsters are fully brfjefed by the Slster5. REFERENCE AND ADMINISTRATIVE AlL$ R•glstered Charlty numb•r 230927 P1paI addr•s$ Si Saviourfs Phory 18 Queensbridge Road Ha9getsn London 28MS Page 2
ST SAVIOURS PRIORY REPORT OF THE TRusfEES FOR THE YEAR ENDED S APRL 2024 Rev WL)Iher Judith Blacklwjm Sister ELlzabeth Crnwford Mr Mark Laing Slster Anna Huston Mr Alexander Thory>e Independent Examlner Able & Young Chartered Certlfled Accountants Alrwt Hou52 Purley Way Croyth)n Surrey CRO OXZ ankers: CafBank Limited Klngs Hill West M3lllng Kent ME19 4fA Natlonal Westmlnster POBDx282 216 Bishop5gate EC2M 4JH Approved by order of the board of trustees (m 2P Alay 2024 sigr*d its behalf ty: Rev Pkjlher Jj1th Black1x- Twstee Pase 3
INDEpENDEP EXAMINERS REPORT TO THE TRu¥fEES { ST SAVIOURS PRIORY Independent eXamIr.5 report to the trustees of St SoT4lour'5 Pr1w I report to the charity trustee5 on nry examination of the accryjnts of St SavbJJrfs Priory (the Trust) for the year ended S April 2024. Re5ponslbllltles and ba515 of report As the charity trustees of the Trust you are rwsibie for the preparatpjn of the accounts in accordarKe wilh the iequirements of the Charities Act 2011 1.the Act'i. I report in re5t of ry examination of the Trv5t'5 accounts carried out under serttyjn 145 of the Act and in carrying out my examination I have followed all applKable Direct*)ns given by the Chanty Commission under section 1451Sllbl ol ihe Act. Independent examlnerfs statement I have completed rny exarnination. I ccffifirm that mawial maiters have corr£ to my attention in connection wth the examination giving cause to believe that tn any maierial respect: accounting records were not kept in respeci of the Trust as required by Sertn 130 of the Act.. or the accounts do not accord Wlth tIK)5e record5- the accounis do not comply with ihe applicable requinnIS concerning Ihe form anij content of accounts set out in the Charities (ACCt5 and Ren$) Regulations other ihan any requirement that ihe accounts give a true and fair wew thKh is not a rnatter conydered as part of an indeFendent examination. I have no concerns and have come acros5 no other maiws in connection with the examination to whlch atteJtioTh should be drawn in this rert In order to enable a proper wthr5tanth.ng of the accounts to be reached. Rekha Shah Able & Young Ltd Chartered Certified Accountants Airport House Purley Way Croydon Surrey CRO OXZ Page 4
ST SAVIOURS PRIORY ATEMEKf OF FINANCIAL ACtMllES FOR THE YEAR ENDED 5 APRIL 2024 2024 Unrestricted fLThIs 2023 Total funds Notes INCOME AND ENDOWME14TS FROIA Donatlons and le8acle5 112,928 110.923 Charltable actfvltles Chatable aCtItieS 9,483 4.330 Inve5lmenl income Total 203.810 192.828 EXPENDITURE ON Ralsing funds 774 424 Charltable artlvltle5 Charitatle actiwties 201,521 179.936 Other Total 209,787 187,747 Nel sainsll105sesl on investmerts NET INCOMEIIEXPENDtruRE) (8,0931 118,758 RECONaLIATION OF FUMDS Total funds brought forward 2.258,731 2.277.489 TufAL FUNDS CARRIED FARD 2 250 638 2 258 731 The tteS fm part of fina[la1 statements
2023 Tangible assets 45.1 2 038 34) Z.111. 2.Q33,402 3,292 136.457 Cash at b 161.263 139.749 166.169 fallknq wlthfjn 18KSI 138.849 165 329 2.250,638 Z.258.n1 2 258 731 FUNDS on its bet*lf by. Ilr Plark Latrq. Tr
ST SAVIOURS PRIIX(Y NOTES TO THE FINANCIAL 5TATEIAEiirs FOR THE YEAR ENDED 5 APRIL 2024 ACC(XINTING p£s Ba515 of preparlni the finats1 slaternents The finarKlal statements ¢f the chaiiiy, whxh is a wkniic benefft eniiw under FRS 102, have been prepared accordance with the Charities SORP IFRS 1021 "Acctyjrtting afyj Reporting by Charfiies: Statement of Recornff£nded Practice appltable to charitie5 preparing their accwnts in accordance vrtth the Fknancial Reporting Standard appllcable in the UK and Rewbiic of Ireland IFRS 1021 (effective 1 January 2019)., Flnancial Rewrtinq Standard 102 The FInala1 Rewrtlng Stsndard appikabie In rhe UK and Republi£ of Ireland. and the Charities kt 2011. The firthnclal statements have been prepared uDder the hI5lorfcal cost convention, the exception of NeSir$ whxh are 1K1led ai Maet YaLue, as modified by Ihe revaluatkn of certain asse Income Ail lrfome is recognised in the State[rt of FInal•l £tfvftle5 the chamty has entitlement to the fund5, it is wobable that the iKome will be re(efved and arwJnt can be osUrEd relfabiy. Expendlture Liabililie5 are recogntsed as exkWKlfture as S(th as tlwe fjs a legal or COrrUCtIVe otAigatkin committirv4 the charity to that exp2ndlture, t is probable that a trfer of econDmlc tfIts YAII be uIred in settlerrtht and the arrK)unt of the ot4igatTon can be rr¢asured reliably. Expenth"lure 15 acc(Jnted for on an accruals basls and has been classified under headings ihat aggregate all cost related to the cate80ry. Where cosis canr¢ be (lirectly attrfjted to Partar have been )iLed to actfvitle5 on a basis consistent I(h thè use of resowces. TangIb rued •55ets Depreclatkn 15 wovklEd at the followlrq 3nNaL rates in order to te olf each asset over its estimated usef Ilfe. Freehold pmperty Flthres and flttlnos Molor vehicles 2% on cost 10% on cost at varykig rates on cost Taxatlon The charity 15 exenw frcfft tsx (m its charit actmtles. Fund accountlnq Unrestricted fbd5 can In accbYdarKe with the charftable Objecte5 at the dls¢retion of the tntstees. Re5trkted funds can 0Y used for particular restrlcted wrposes wiihin the ¢*Jiects of the charity. Restrictions arfse when specified ty the or are raised for partlcular reStted purp05e5. Further explanaiknn of the nature aTh4 of each fLmd Is Induded In the rKJte5 to the financlal statentS. Flxed assets Investments. Fixed assets Nivestrrtnts are at market vaitse continued.-
ST SAVIOURS PRIORY NOTES TO ThE FINANCIAL STATE4EKfs. contlnued FIJI THE YEAR ENDED 5 APRIL 2024 I14VEAlE1 INCOIIE 2ff23 Dividend5 frorn 5hare5 in UK listed conyanies IntwEst on UK flxed Interest Seeurfties DePt account Interest 73,1 8.338 70,621 6,954 TRusfEES' REIAUNeRATIC*4 AND BENEFrrs There were no tntee. ren[70 or other fits frx year endpd 5 Aprl12024 for the year ended 5 AprS12023. There were rrfj trurtees. expenses pafd for t1 Jr4r ended S 2Q4 nor fc the year ended S Awl 2023. COIIpARATf FOR ThE STATEME1 OF FIMAIKIAL ACTMTIES UThre51rfc¢ed fund5 INCOME AND ENDOWAIENTS FROal Donations and leiacies 112.928 Charft)b ac15 Charfiabie actiwities 9.483 Investment IkKCffi Total 203,810 EXPENDITURE ON Raisins funds 553 Charltable actfvltl•s Charitable activities 68.985 Other Total 212.193 Net galnslliossesl on inves1nts NET INCO¥EI{EXPENDITURE) 18,0931 RECONaUATION FIJM>S Total funds brought forward 2,258,731 TOTAL FUNDS CARRIED FORWARD 2 250 638 P¥8 contfjn...
ST VIouRs PRIORY NOTES TO ThE FINANCIAL sfATEMENTS- contlnued FOR THE YEAR ENDED 5 APRIL 2024 TANGIBLE FIXED AS5Ers Fixture5 and fittings Freehold property Computer Tota15 co Al 6 Aprll 2023 and 5 Aprfjl 2024 485 078 130 161 DEPRECIATION At 6 April 2023 Charge for year 430,021 430,021 c 5 Ap1 2024 BOOK VALUE At 5 Aprfl 2024 130 At 5 April 2023 FIXED Ass INVEsfMENTS Listed investments MARK VALUE At 6 Aprfl 2023 Addtllons DIskK)5ais Revaluaiions 2,038,345 30. At 5 Awl12024 2 066 229 Nrf BCQK VALUE At 5 Awl12024 2 066 229 At 5 April 2023 There were no investment assets outsfjde the UK. Cost or valuation at 5 Aprll 2024 is represefi by: Listed Investments Valvation In 2024 2 Cé6 229 Paqe 9 eontlnued..
ST SAVIOUR5 PRIt*Y NOTES TO THE FINANCIAL STATEME+ifs- contlnued FOR THE YEAR ENDED 5 APRIL 2074 DEBTOR&. AlAOUls FALLING DUE IITTrIM OHE YEAR 2024 2023 Prepayrnents CREDITORS: Amciitrirs FALLWG DUE IThIN ONE YEAR 2024 2023 Other crethwr5 AIOVEMW IN FUND5 movernent w) fLmd5 At 5.4.24 At 6.4.23 Unrestrlcted funds General fund 2 258.731 TOTAL FUNDS Net movement In funds, incl In the aly)¥e are as follow5". Galns and Movement in fund5 Unrestrfcted funds General fund 209 7B7 TOTAL FUNOS 203 810 Cornparatlvès for rrwment In fund5 Net emenr in fund5 At 5.4.23 At 6.4.22 Unrestrfcted fund5 General fund 2.277.489 118.7581 2,258,731 TOTAL FUNDS 2 258 731 Page 10 contlnued...
ST &4VIOURS PRICAEY NOTES TO THE FINANCIAL ATEMENTs- contlnued Fofi THE YEAR EK)ED 5 APRIL Z023 IAOVEIIEtr IN FUM>S. contlrM*d Con4)arative net nXIverTt In fimds, in the abfft are as follows: Rewrces Galns and experh4ed 1055e5 resource5 In fuThds Unre5trfct•d funds General fund 192.828 1187.7471 123,8391 118,7581 TiyfAL FUNDS 187 7471 23 8391 A current year 12 rnLth5 and prI)r 12 bYKNlths c1mrbyd }54t1 15 as foilowL At 5.4.24 At 6.4.22 In fLmds Unrestrfrted funds General fund 2.277,489 126.851) 2,250,638 TOTAL FUNDS 268511 2 250 638 A crent star 12 nthS and ar 12 cortilned Thrnent fjn funds. Included in the ave are as follow5: Resource5 GaFns and losse5 vement In Vnrnstslrted funds General fund 396.638 1397.5M} 125,9551 126,B511 TOTAL FUNDS 397 5341 26 8511 10. RELATED PARTY DISCLOSURES There were no reiaied wty Iransacikns for SEar ended 5 2024.
ST SAVIOUR'S PRIORY DrfAILED ATEmEP OF FINANOAL ACrinE$ FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 INCOME AND ENDOWMENTS Dofiatlons and legacl•s Legacle5 Sister's Contrilxrtn$ and penslons Gift aid Guests and retreats frlS Otlw donations and grants 10,CIJ5 43.393 45,749 41,618 13,109 11,1 112.928 110,992 Investment Income Dividends from shares In UK listed COanieS Interest on UK fixed intwe5t 5ecurltles Deposlt account intwesi TS.C1 8,338 70.621 6,954 81.399 77,575 Charltsble Jctfvltles Sale5 Total IncorfAni re50urce5 203.810 192,827 EXPENDMJRE Other tradln8 actlvltles Cost of 9d5 sold 774 424 Charltoble •rtlvltles Priory running costs Payments to volunteers MaintenaKe Travel Chapel co515 Donations and sthriptions Personal care Publicatlons Depreciatlon Care, funeral and Tr[1&1 Other 75.258 50,269 40,752 229 1,133 11.656 4,402 553 9.788 107 52,348 40.647 824 313 ID,827 2,558 632 107 201.482 173,974 Support Costs Governance cosls ¢YfKe AcCjnts Carrled forward 5.521 826 6,347 Thfjs page dce5 fTr part of the 5tstuW fTnandal 5taiewnts Page 12
ST S4VIOUR3 PRIORY DAlLED STATEMEKf OF FINAtKIAL AcllvmES FOR THE YEAR EIWED 5 APRIL 2024 2024 2023 Gov•rnar•ce cost5 Brought forward Bath chaT8es 6,347 810 Total rewJrce5 exFended 181 107 Net (loss) Incom* b•for• galrs and 1055éS 15,9771 11,no Rejllsed recognls•d galns and losses Reallsed gainslliossesl on red asset Investrnenls Net knccwellexptndlwr•) 18 7581 Thls page (bxs fomi part of statut¢xy financial statements Page 13