Charlty No. 237760 DAUGHTERS OF DIVINE CHARITY CONVENT OF THE SACRED HEART SWAFFHAM TRUSTEES, REPORT AND CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2020 DAUGHTERS OF DMNE CHARITY. SWAFFHAM CONTENTS Paga Numb•r Details Trustee5 Report Independ&nt ALKlftors Report Consolidata Statement of Financ￿ A￿￿treS Consolidated and Chanty Balance Sheet 10 Consolklated Suemenl of Cash Flows 11- 21 Notes to the Financtal Slatements DAUGHTERS OF DIVINE CHARifi. SWAFFHAM Trustee5 Mari8 Cirko Isr M Jadnla) Annie Maguire Isr M Catherine) Kathleen Muttal prenti￿ {Sr M Thoma5 Morel Diana Judith Rkljer Isr M FrdrKJsl Head Office St Theresas C￿Vent 27 Sandringham Way Hunstsnlon Norfolk PE36 5DP Provlnclal Supwior Oanuta Wtoczka FinaTr￿al Adviser Mr E J H¢x¥ard Charity Registration Number 237760 dependent Examlner Helena Wilkinstsn FCA DChA Prtce Bai* LLP Angli8 House. 6 Central Avenue Sl Andrew5 Business Park Thorpe St Andrew No￿1¢* NR7 I￿R Solkltows Ward Gethift hsther 8-12 Tuesday Market Pla fjng's Lynn Norfolk PE30 1 Prlnclpal Bankers Barday5 Bank PLC 34 ma￿et Place Dertham Norfolk NR192AS DAUGFfTERS OF DMNE CHARrrY, SWAFFHAM TrUSTEES' REPORT FOR THE Y&4R ENDED 31 DEeEMBER2020 The Trustees pre￿t their annual report for the ytsr ended 31 Deceffl￿r 2020 under Charrtses ALt 2011 togetherwith the audited cOr￿OI1dated finanaal statements Qf the Charity for the year and oJnfiTrn that the L8tter comply wth thè twuirements af the * the Tru8t t*ed and the Staiement of Reojmmerthj Prac*'ce - Ar￿Unting and Reporbng by Charitses 2019. REFERENCE AND ADMINISTRAThE INFo￿Tr)N The Daughter5 of Charity an intemath?nal Tel￿J￿U5 congregation di?rthJ into ￿¥8￿e 5epar3te Pmwnces. The English Prownce is adrnrnkstered by the Prownaal Superior tc¥￿ther with a Counc410)nsk%ting of thfft eoune411¢)N The Council kq thcted by the rnernbeT5 01 the Pr￿ce kya le￿n of four year* Induded wthin The Daughters of Dfvine Chaiity aye separate charities.. Daughters of Dmne Charity. Swaffl￿M. at the Convent of sa¢￿d Heart Irelerred ¢0 in thk% dotsjment as'lhe ChariWI. aJMJ Daughters of Dmne Charity. Chestetfield. at Sl Josephs Convent Togèth$r the6e (*wibo6 ￿n$t￿le the English Pm¥in￿. Giw the o)mm(x) CA)ntrol exerased by the trustee5 over both thaiibes, thpse finantsal 5tstements con501xlate both entities. and togÈther they are refèrred to as the "group". The financial 5talements accompanying th￿ report arp Ihe finan(ial staternents of the group on whith the a55ets of the Daughters of DNino Charty Swaffliam. and of Daughfers of Charrty Chesterf*ld. ￿Ing part of the EngfLqh PrOwn￿, are helj. The Convent of the Sacred Heart Swaffliam i% govemed by a Twst t)*J dabj 20th August 1964 gnd ts regtsteied vmth the Chadty Commissksn, Charty Regk8lration No. 237760. St Josephs Conwt Chesterfeld ts govemed by a Trust Deed dated 6th Juty and is registered ￿th the Charity Commi8Story Charity Regi8tr8tion No. 527184. TN¥t Maria Crko 1ST IA Ja¢yntal Ann￿ Maguire Isr IA Catherine) Kathleen Kluriel Prents"￿ Isr M Th(Thas Ilue) txana Judith Rldkr Isr M Francis) K•y EX￿V￿v•S The ProMn(ial Supenor Finanrial Adv Sr M DanLrta FDC E(Jw J H¢y* STRUCTURE GOVERNANCE AND MANAGEIAENT Gov8rnrng Body The Charity has four Tnjstees. The p￿￿n￿al Superior three members c4)nstiluie the PTown£aal Ccyjnal. The pw of appointing new Trustee8 rests with the Pminaal Superior. OrganEBational Ilanagement The Prothn(#al Counal headed by the PmMn(aal Suwor del￿￿ Ihe genera) J￿101 of the group and revws ts over811 rnan8gement ar￿ control fOr￿ICh they are kgalty Tewnslb￿. Key managernentand rernunerallon pollchs Key Tnanagernent of the Pr¢virtoal SuwKr. the Councilors and the Finanoal Ath*r. Al other teachers were pa￿ in accordan￿ urith the $chfy)l salary stsie. Otherstsff we pakl based on mathet ote. The Ststers do nol re￿1ve any remuneration for th￿rw(￿* at the d)arity. The Financaal Pdkrysofslees*re by the Sk%Fer Pmmncial. DAUGHTERS OF DMNE CHARrrf, SWAFFHAM TRUSTEES. REpoKr FOR THE YEAR EPID￿ a1 DE¢EMBER2O20 Both ehariiies, Trust Daeds state thal the Trusvs PML¥pal Ot¥ed1￿ are the advancsrnent of and 5UPPOrt for the thatitabIe work being cxrrted on by Ihe cw9watx￿. the advanc4nent of rely￿US educatiorb or suc* charitabk work as the TTUStees think fft in support olthe Roman ca￿011¢ RelwJK>n. ¥￿th the approydl of the Prowrbaal Superior. In fuIfilment of the objerthes of the Trust li ks the p0￿CY of the gr￿￿ to uThJertake a range of charilabk a¢￿￿t￿$. Th¢ principal areas in whith the gmup is invow set out b8tu¥. l. Educatlon The Convent of Heart Swaffliam cphns the Freehobj Land and &JiTrJing5 whiL* rtsnprised the sa(￿d Heart Schod. The Sthool on 31st A￿ust 2019 for financial reasons. The scheel prwrk8es have been a5ed to the Roman Cath(dic Dw)r*se of Ea* A￿1￿7 education ￿nI￿￿eS on the site as th6 Sa¢yed H&art Roman Cath￿¢vA SthooL St Joseph's Convent Che5tf*ld ¢y•ms Ihe FJeehokt LorMI and Bulldings thich ￿MprISe the & Josephs Litue Scholars Nur58ry School￿th it oparates as an indeKwKlentfee pawt)9 nursery. Memkws of the COng￿ation W¢￿ in the School as unpabj tsachet5 and woffare a$sistsnts. The English F*0Vin￿ rel￿ hea￿￿ on Ilembe￿ (rnm CAw58as le.g. Sknvaktal to oryoul the8e fvn¢tion8. 2. So¢ial and Pastr*rnl Ca The Convent of Sacred Heart Swaffham also the Freehold LaThl and Buihlings thich cart¥)r￿8 St Ter8sa' Conven( Hur￿trntOn. Members ofthe Congregation undertake vwjrk vAthin the ccrnmunity and loc41 partsh. pmiding fam'dy pport and uiwna relvJiou8 and material support lo th058 in need. 3. IAi$8ions The Engfish Fknvinc8 suppjrts the estaNi5hm&rt4nd nJM•ig ofowrseas MI￿40n$ by the Congregalion. The object￿, tha *Jvancement of the R(*nan Cath(￿¢ p￿e4185 al th8 *Y)rk of the rnembets of the Congregaton. Publlc B8nefft Statsmgnt The ￿$t&88 belte¥8 they have ccrnpf*d Mih I￿T duty to due regard to the guhlanc* on publ￿ be￿fft publishèd by the Ccffimi%sion in exercasing the1rpowe￿ or*Jutss. Achlevemonts and p8rforrnanc• Durin9 the year, the CongTegatM)n wa$ in Ihe f*kl deducstrsn thanks to th8 Nur58ry at Chestethekl. Fljpil numbers for the year totslled 41 C￿mpared to 40 last year. DAUGFrrERS OF DMNE CHARITY, SWAFFHAM FOR THEYEAR ENDeD 31 DECEMBER 2020 FINANCIAL REViEW Total consolidated income forthe year w85 £380,0￿[2D19". £75Z3591. all of vthith was unrestricl&J. The o)nsolidale•J results for the year show net incy)me of£41.740 uJmpar&J to ndexpenditure of£439,205 in prwrious year. Daughters of Divine Charity S%4tham hod Ir￿the in the year cI£173,9& expenrfitLYe of£118.CM)2. and net incxyne of £55,924 (see note 21. Daughters of Dmne Ch8rity CIEsterfdd. nurwy. had in the year of £277.e64. &¥w￿ltur￿ of £291,848. and net expendrture of£14,184. The Trustees review risks lo the Charty may be eX1￿$&L Those a￿(Calle to S￿e￿na￿ site are r¥)w Minim￿ as the school is owupied by the Di{￿ C￿ a % year full repairing lease, and the other property at Swatlham h8s b89n SO￿ subjeci to contract year er￿. The risk at Hunstanlon is the ladt of re&dents. For Chesterfield, the risk continues to be 8 ¥hortag8 of WFils andlor staff. lrtvè&tmènt Pèrformancè Thè Group Charity no loThJer hold cash in investment acJxunt& However the grwp and chwity do now hold investments and programme re￿ted investments. bolh bw.ng in the fom of proFerty. The programrne relat8d investrnent relates to the sthool at Sw311kn let tr) Ihe DIC¥￿$& Going Concern The Trustees have cA)nsider&* the abilty of DaLNJhtws of Divtne Charty a5 a Gmup, Indudlng tx)th S¥Yafft)am and Chesterfield. to continue as a going cortem. The G￿p has total frjnds of £1&18,745 at year end. induding free reserves of £267,562 aThJ cash of£475,380. The S￿eS of the &vaffahm Properties are Vogre￿ng and this wll finance the repayment of the l(x)g tsmi k)an. PuFxl levds at ches￿￿￿ have relumed to nomial and re%dents have remain& In the home at Hunstanton. Given the above, the Trustees un￿d￿that the Gmup and Charity wl ojntinue fci at ￿$t 12 rnorths from the date of approval ofthese finaThaJ statemrt and therefore it is arvcyiate to prep8re these on 8 going Cor￿8￿ basi DAUGHTERS OF DMNE CHARrrY. SWAFFHAM At the en¢J of the star tr W81 C￿￿￿o￿de￿j fwwjs of the LYQUP we a(b18,745 (2019￿[1?7.1I)s). swn £1292273 (2019: £1.323.8281 represents fix￿ assets ne(xssary for the thaTitgbl8 8thwtres. £315.163 (2019'.£315,1631 represents in¥EstrDenl property and £1.173,747 12019".£1,173.747) repre$￿ts programme rdaled ￿VeS￿lIents. Ihe remaining £267,562 12019£154.2671 is conshlered bythE Tru&ees to rellectthetsue reser*s' p￿ti￿. The r68er¥es of Daughler5 of O￿l￿e Charty Swafihèm lo1￿￿d ￿.138.550 al 31 rknmbw 2020 1201*.£2.082.W261, Of Ih?s, £2,148,109 12019.. £2,166.91I represents fft%￿ assets. ￿ net Sabths ofts of£lg.SSg)12019."q84.28911. TNS InrJJdes a kJThJ k)an bakinry of £184,788.12019."£)84.7881 Th8 r8s8rv85 of Daughter5 af DI￿ne Charty Ch8￿e￿e￿y lofakd £910.195 at 31 DÉc*M￿ 2020 (2019£924.379). or tho. £6&3.074 12019.'£845,8231 represents asse15. freè resw¥&s c4the s(*0￿ of£277.121 12O19E278,&fj61. Reserves 8re t*ld forthe To prowlde 8 fmanaal base trs 44)¢Jrt Ih8 luture a￿￿tteS ot Chwity. A tsryet of Ihree months runnlng costs has boan set, equates tu £72.962 ended 31 D￿rnb￿r 2020 lli r8specl of (￿terfield ory￿. The Sw8fftam school complex has bew kased 10 the Roman cathoScth￿8 surphjs PTop2rty 15 bein9 marf¢el8d forsak. T47 pmvide for Ihe firture care arNJ support of the ohyer of Iiie c￿le981￿)n. The Pmince rJJrrwrtty has members butthB average age of the CMJrtgatw)n rema(ns trdgh. Tho tsu*OeS vJr8nt ￿ ol reser￿5 to ￿ *qu* ab￿ poDcy. conc*rn ha5 been r￿sKleTed and ' cc*Wdered appropriate the sum offre& r8S*X InveBkn¢nt pows powand yrtomun Under the O￿le￿5 T￿￿1 Oeed th8r8 are no IheTnJ5tee5' P(YhW5 of ThTht&trnenL Other investments at 31 De(*mber2019 IndL¥le propertywhith is hebj forsale. and Fwraftyne ￿a1&Y tsThwiments k8 properly U8ed by anolhercharilabk oryant5akn %￿th smaar purposes as Dawh*rs of D￿ne. This is am*dÈted to add add￿Onal fisk lo the grwporth*ty. FUTURE PL•AS TheTru8t8eswll conltrrtJ8to Car￿￿ty fOTmUlate￿￿ pokns. The or*Joiro de¥EloFxnert ol St Jose￿* U￿e Sdwl ￿ ¢)YllRxJe tr) ba ihe main abieth* of Dawhter8 of Dmne Charfty, Chestethk1. DAUGHTERS OF DMNE CHARI￿. SWAFFHAM FOR TrEYEAR ENDED 31 DEcEI￿R >)10 STATEMENT OF TRUSTEES, RESPONSIBJLMES The trustees are reswnsW8 for pryriry the Trustees. Annual Repm aNt th¢ stslements aLxoylan¢¢ I￿th applkab Lqw and Unita ￿￿EdoMAI%0unt1ng Stsndwd5 {￿rted GerttratyAcrW Acco￿ting P￿￿￿). The law appJirAble to charit￿8 in EngLqnd & Wales reQ￿re$ the trus￿ to prepare financaal ststerneTts for each finar￿LS1 year whith gwo a true and fair wew rfthe slate of affairs of the chanty and ef ncoming re￿ur￿5 arKI ap￿￿￿￿On of r880urcas of the charity forthat In preparing these fmancial wtrntrnts. the In￿ are r•JuirèJ to.. suitable accwnting po￿￿￿$ artd tken aFvfy them c£￿5￿teD￿. ob5er¥ethe methods and piindpks in the Charl￿5 SORP 2019 IFRS 1021.. make ludgements and es1Th8tes that are reasonab￿ ar￿ wwlÈnt, statswhether aWliCab￿ accounttng stsnd8rds have been fokn%d. subleato any materi81 ¢Wrtures discbsed and expL8lned In the fin8n(xal statements., prepa￿ the financial staiemenls on thety)thg ¢a)nt￿n tAsis unkn t ￿ in￿r¢pr￿e to pffjsun* thatthe charty will continue kn opeTrtiw. The truslees are re5wnsbte for keepTrig pryr acuunbng Tecords thal (fx4ose with Teasonable af£uracy at any tine the finanaal posilion of Ihe charity and enabk Ihem to ensure Ih81 the financkql Stat￿nents wtth the ChaTihes Acl 2011. the ChaDtses (Accounts and Report51 ReguPdlions 2008 arK£ the provbknns of trust de&Y. They are Jso WWnsib￿ for s8feguardiry the assets ofthe charty and hence fortakirvJ Teasonab]B steps lorthe sxwention and deieL*on offrdu¢J a￿d ott)er irregularili8s. The trustees are r88ponsibk foT the mainteDance kntegnty of the c*arity and fmanci￿ inf0mat￿n indudad on the thathty's website. Legislation in the United g¢)&wning Ihe preparatie￿ diwination of finarthl statements may dlfftt from 18gLqU211rM in otherlurisdl¢*ons. Appro¥*d by IheTruste85 on 01 October 2021 Shan￿ as th￿rbeha￿ty. Sr K M Pr8nt Trustee Sr D J Rhykr DAUGHTERS OF DMNE CHARrrY. SWAFFHAM INDEPEND￿ EXAMINER% REPORT TO THE TRUSTEES OF DAUGirrERS OF DMNE CHfvAITY. SW*FFHMA I report to tha charity trustees on my examination of the accounts of the th￿lty for the year ￿ded 31st De￿rnber 2020 ich are set Olrt on pages 8 to 21. R8spJnsibiliti85 and basis of report As the charitys trustees you are rewnsible fel the preparat￿ of the ar￿jnts in aett?rfan￿ vAth the requirements of the Charrbes Act 2011 Cthe Adl. l ￿port in resp8d of my ex*ninatkn of the tharitys acnjunts L¥rri￿1 tyjt undw secb.on 145 of Ihe ALI and in canyng out my examination I have follthved all Ihè app]icabk Direcaions gNen by the Charity Commission under secaion 14515llbl of the Act. Independent examlnerfs Statement Since the tharitls 9TOSS incorne exceedgj £250.￿J0 your exarn￿r must a rnernter of a body listed in 8ec*on 145 ofthe AOL I confirm that l am qualified to undertake the examina16on ￿￿uSe l am 8 mernber of Institute of tharteTed Aoxuntants of England arvj Wales. is oTre of the Ik3ted bodies. I have t￿M￿eted my examination. l ts)nfm that no material matters hab* iy)me to my attention in ctJnne(*on vAth the examination gwing me cause to beI￿ve that in anymaterial respect accnunting records were not kept in Te8ped ofthe tharrty as requThJ by 6ec*on 130 of the Art or the 8¢xounts do not acLord wth those rettjrds,. or the a(£ounts do not the applicable ￿lliTernents rmr£miTrJ the fom and cLsntent of aco)unts set out in the Charifjes (Accounts and Re￿rts) Reguktions 2008 other than any requirement Ihat the a(yx)unts gNe a 'true and f8ir view which 15 not a matter cOn￿dered as part of an indeFEndent examination. An audit dispensation i5 granted for THE DAUGlffERS OF DMNE CHARftY ISWAFFHAM, NORFOLKI.. 237760 under Regulath"on 3413llbl of the Charitie5 IAccounts and Reports) Regulat￿)n8 2008. This di5pensats.on is ftsr Ihe thanckgl year e[￿ed 31 DeCern￿r 2020 only. and ￿lOw5 an independent examinalk)n in pla￿ of an audit for year. Therefore an independent examrantion has taken pla￿ instead of an audr¢ (Reguktion 31 If)) and the dIspensat￿n was dated 17th June 2021. I have no ￿nCem$ and have come acrcL5s no other rnatte15 in o)nnec*on wlh the exaM￿atiOn to which attention should t drdNW in thks report in orderto enab￿ a pmFer undeTStanding of the a(ts)unts to be re8thed. Hèlena Wilklnson FCA DC PRICE BAILEY LLP Chartered Accountsnts Anglla House 6 Centrdl Avenue St AndT8W8 ￿SinesS P4rf( Th0￿& StAndrew NoAMch NR7 OHR Date.. 13 October 2021 DAUGFffERS OF DMNE CHARITY, SWAFFHAM CONSOUDATED STATEMENT OF FINAIICIAL Acn¥mES FOR THE YEAR ENOED 31 DECEIIBER 2020 INCOME 2019 DonalKJrkq and legack8S Income from charitsbie acbvi IrNe5tment Income 135.9ty) 243.820 47.462 701.311 TOTAL INCOME 380.09) T52.￿9 ExPEN0￿URE Expenditure on dwiitable adi 1,191. TOTAL EXPENDfTURE 1,191, Net incom6 I I￿pendItUr•I torthe year, b￿ng mov8rn8nt in funds 41.740 43S.20 Re¢on¢llfatlon of funds: Totsl funds brtyjghlforward 3.CIJ7.CK15 3.446,210 T(Aal funds ¢arrled f(rnrd 3.007.(X)5 18rn0unts reuqte to unrestrthi funds and continuSNJ a￿DeS ofthe wup. The c(￿s0]￿aat8d Statement of Finaniyal Adiwtw Ind￿&$ ¥19aln$ and b)sses reco3¢wed in the Jwr. The notes on page$ 11 tr> 21 part of Ihese fiTr2nra￿ statemen DAUGHTERS OF DMNE CHARrrY, SWAFFHAM CONSOUOATED AND I>IARrrY ONLY BALANCE SHE FOR THE YEAR ENDED 31 DECEMBER 2020 Group 2020 Group 2019 Charlty 2020 Charfty 2019 Note FIXED ASSETS Tangible Fixed Assets Investment Property Prc,478 281 16461 42,￿ 1,649 711,643 28,801 16461 At er¥J of year 586.130 109,113 Net b1￿k vah* alth8 end oftheye 1284.876 1292 273 Nel book va*Je attha start of the￿r 1.311.747 6,597 1,323,828 Thè ¢ust ofdepfy(aabk assds In{￿ded in fr88hc4J knj buL4JirvJs at31 OKth)w2020 is £1,343.50712019. £1.343,507). Charity Freehold Land and Buwings Fixtu￿$ and Charfty Motor Vehides Chartty Total Charity only Al 5tsrt of year Add￿on Disposa 9.421 .1ri 35,715 1.￿,313 (3,4(￿) 13.4001 Atend vf year 9,421 *777 35.715 1.061913 Depr•¢i*ion Al 5tsrt ofyear ch8rge1￿lhe year EliminatgJ on OL$r￿1 387.308 le.￿2 IB461 14.839 24 16461 1.189 AterKI dyeBr 313.923 Net bookvalue atthE end otthe year 33 3.568 659.199 Net btsjk value atth& stsrt of the 670.337 2,911 4,757 678,(K]5 The cost ofdepreaaNe 8ssets induded in bu￿1NdS at 31 D&￿nber2￿2O. £741,92212019- £741.¥22). 17 DAUGHTERS OF DMNE CHARITY, SWAFFHAM NOTES TO THEFINANCIALSTAIEMEPffS FOR TTrEYEAR ENDED 31 DECEMBER 2019 10 FIXED ASSET INVESTMEMTS westment assets. proparty 2020 2019 ValLE broughtforward al 1 January TranS1wfr￿ Iar8TrI)￿ flx&g assets 315.163 315,163 Vdue I￿￿led folward at 31 Decemt 315.163 315,163 Induded in property invest￿￿￿ts is the Bam Jocaw at the Swaffnam she. Thi8 15 no bnger used by the rknarity and knstead fty sak. The proFerty has been 8c4J sut4ecl io contrxiW yearend. 2019 Value t*tsught forward at l Janlrary Translwfrcm tsnglbb assets 1.173.747 1,173,747 Value carried foward at 31 De(ant 1.173.747 1.173.747 Induded in p￿Pety programme rÈlated investrnents i8 the main land and buikjings at the Swaflham site. which have been transferred to Ihe RcThan Catholic 0￿)c*S8 of Ea5tAnglrd undera 99 year at r£ppgrcorn renL ThL8 Jpety continues to fUTr￿ the purposes olthe charity 115 dwntabje use. Daughters of Divtn8 Charlty, StJ*Jseph's Ch8Sterfleld fchesterllel Due to Chesterfield under the CLrnOll 0Fts￿ trustees of Daughters of(iMne Chartty Swaffham, Ihe resutts of Chesterfeld halt Consol￿ated into tr5ese finanual s:atements. Chesterfield L8 a regK5teted Gharity IGharlty nurnb8r 5271841, regist0￿￿ at address.. St Josephs Conven( 42 Newbold Ro&Y. Chest8rfi8￿. Derbyshwe S41 7PL. The prfn¢lpal athty of chesterf￿￿1 is th8l of an ￿deFendent fee payTng nutsery. The results of Cwteffjeld are as folknw&' ststement ot financial actsvikne5 Donauons 8nd kgacies Income from chariiable athlties Inv85trllent Income 2020 88,179 189.291 2019 7,796 194.054 2.7¢ TOTAL INCOME Expendthte on Char[th￿ aamues 291.848 428.234 TOTAL EXPENDifuRE 291.848 428.234 Net expendlturefor year being net rnovemert in furbjs 114.1841 1223,fj781 Total funds broughtforward Total funds ¢aniod f