Roman Catholic Purposes In Connection with The Congregation of the Sisters of St Clare In Ireland (The Sisters of St Clare Charitable Trust) Unaudited Annual Report and Accounts 31 December 2021 Chanly Registration Number 0246eA9
Contents Reports Reference and administrative details of the charity, ils Iruslees and advisers Trustees, report Independent examinels report 10 Accounts Slalemenl of financial adivities Balance shgel 12 Principal accounting policies 13 Notes to the accounts 17 The Sistérs of Sl Clare Charitable Trust
Reference and administrative details of the charity, its trustees and advisers 31 December 2021 Trustees Sister Anne Kelly Sister Mark Hollywood Sister Margaret McElgunn Sister Maureen O'Dea Sister Kathleen Moore The Iruslees are incorporated under the Charities Ac12011 Principal address St Clare's Convent 15 Glyndebouine Gardens Corby Northamplonshire NN180QA Abboss General Sister Anne Kelly Charity registration number 0246649 Indgpgndent examiner Amanda Francis 8uzzacott LLP 130 Wood Street London EC2V 6DL Bankers Yorkshire Bank 6 Market Street Kettering Northamplonshire NN16 OEA National Weslminsler Bank plc 24 New Town Gardens Kirkby Liverpool L32 8RU National Westminster Bank plc 146 Widnes Road Vvidnes Cheshire VVA8 6BB The Sisters of Sl Clare Charitable Trust 1
Reference and administrative details of the charity. its trustees and advisers 31 December 2D21 Solicitors Stone King LLP Upper Borough Court Upper 8orough Walls Bath 8A1 1RG King-Davies & Partners Lloyds Bank Chambers 18 Talbol Street Maesleg Bridgend CF34 9BP The Sisters of St Clare Charilable Trust 2
Trustees, report 31 December 2021 The Iruslees present their report together with the accounts of the charity lor Roman Catholic Puiposes in Connection with the Congregation of the Sisters of Sl Clare in Ireland lalso known as The Sisters of St Clare Charitable Trust) for the year ended 31 December 2021. Under a Uniting Direction issued by the Charity Commission under section 12{1) of the ChaTlties Act 2011. this charty li.e. Roman Catholic Purposes In Connection With The Congregation of the Sisters of Sl Clare In Ireland (Charity Registration Number 24664911 is the reporting charity and ils related charity, Roman Catholic Purposes In Connection With The Congregation of the Sisters of St Clare In Ireland The Porthcawl Charity (Charity Registration Number 246649-11 is the linked charity. The effect of the Uniting Direction for aceounlancy and reporting purposes is that a single set of accounts is presented for the two charities combined. Un(Jer the Uniting Direction, both charities continue to exist as independent enlilies in all other respects. The accounts have been prepared in accordance with the accounting policies set out on pages 14 10 17 of the attached accounts and comply with the charities, trust deeds, applicable laws. applicable United Kingdom Accounting Stan(Jarcls (United Kingdom Generally Accepted AccoLJnling Practice) and the requirements of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the United Kingdom and Republic Df Ireland IFRS 1021. Introduction The Congregation of the Sisters of St Clare is an international Roman Catholic Rèligious Congregation divided into a number of separate regions. The Congregation's Generalale is based In Ireland. The accounts accorllpanying this report are the accounts of Ihg charitable trusts on which certain of the assets of the English Region are held and through which its affairs are administered. Principal aims. actlvSties and policies Activities and speGifiTC objectives When setting the objectives and planning the work of the charity and ils related charity for the year, and when eneouraging the work of individual members of the Congregation, the Iruslees have given Careful consideration to thè Charity Commission's gerieral guidance on public benefit The general objective of the charity and ils related charity is 10 sUPPOrt the advancement of the charitable mini5trie5 carried on by the members of the ConggatIon for the advancernenl of the Roman Catholic religion. The Sisters of Sl Clare Charitable Trust 3
Trustees, report 310ecember 2021 Activities and specific objectiv8s {continued) The activities of the charity and its related charity ean be dNided into two principal areas-. • Caring for members of the Congregation To care for the members throughout their lives with th8 Congregation. Social and pastoral work Members of the Congregation in England are involved in various form5 of social and pastoral work Including outreach to the hoL5sebound, care of the elderly, support of the victims of violence, chaplaincy to educational eslabli5hments, hospitals. nursing care, ounselling, hospice work, support of the bereaved, work with abused and disadvantaged wom8n and with ethnic minority groups. Some of thes8 sisters receive stipends bul the majority of their work is done on a voluntary basis. Pmtection of children and vulnerable adults Along with all other organisations who serve in the Community, the tnjstees recognise th6 absolute necessity of ensuring Ihe protection and safety of all those the charity and its related charity serve. This means that all sisters who are in any kind of ministry in Great Britain have lo obtain clearance from the Disclosure and Barring Service. The trustees are commilled lo iThplementing all policies and procedures of the Catholic Safeguarding Standards Agency ICSSAI. Fundraising policy The charity aims lo achieve best practice in the way in which il communicates with donors and other supporters. The charity takes care with both the lone of its communications and the accuracy of ils data lo minimise the pressures on supporters. 11 applies best pracliTr lo protect supporters. data and never sells data, it never swaps data and ensures that communication preferences can be changed at any lime. The charity manages ils own fundraising activities and does not employ the services of professional fundraisers. The charity undèrtakes lo react lo and investigate any Complain regarding ils fundraising activities and lo leam from Ih&m and improve ils service. During the year, the charity received no Complaints about ils fundraising activities. Achievernents and performance Review of activities • Caring for members of the Congregation Throughout the year the charity has continued lo care for members of the Congregation and lo assist Ihern in their charitable and religious work. The Sisters of Sl Clare Charitable Trust 4
Trustees, report 31 December 2021 Achigvements and performance Iconlinuedl Review of activities (continued) Social and pastoral work During Ihe year the sisters have been engaged in the following ministries involving children. Priority is given to children who are disadvantaged, which includes not only eéucalion, bul the provision of food and clothing, when necessary. Provision of education In parish schools and additional voluntary, oul-of-schaol cLqsses to help lower achievers,. Voluntary catechesis for children in non-catholic Schools-, and Youth groups. In addition, during the year the Sisters have worked with adults in many areas, always trying to promote peace and justice. Examples of the work done include.. Instruction of adults in the Catholic faith., • PantS, 8lld You Molhers. groups, including pre-baplisrn preparation in families. homes., • Support for the dying in their own homes as well as in hospital., Indivi(Jual family pr¶lion for funeral services and support and counselling for the bereaved., Pastoral carelchaplaincy in schools, hospitals and hospices., Counselling work with victims of abuse and alcohol.. Ministry to the housebound and the elderly., • Provision of spiritual reading mateiials and videos for parishioners., Working in the local parish, visiting and helping parishioners develop their spiritual liv8s- Community social work". and • Spiritual direction and guiding prayer groups. The Sisters of St Clare Charitable Trust 5
Trustegs, rèport 31 December 2021 Covid-19 The Covid-19 pandemic has changed the shape and nature of the world. It has impacted not only the basic nature of social Inleraclions but has also had a Significant economic impact at every level in ways which have been outside of the charity's control. However, the irnpact of Covid-19 on the charity has been minimal. The rnajorily of the charity's income is derived from pensions of individual religious received under Gift Aid or Deed of Covenant has been unaffected by the pandemic. In terms Of our expenditure, the Imp8cI has been small. Some cost savings have been made, for example on travel. Donations continue bul the liming and amount of donations is al the trustees. discretion and so they have a high degree of control over this. The trustees will continue to keep both income and expenditure under review. Whilst there are challenges ahead because of the continuing existence of Covid-19 and also because of the current geopolitical and macroeconomic climate, the trustees do not expect malerial concems to arise over the charity's financial position. Financial review of the year A summary of the year's results can be found on page 11 of the attached accounts. Income for the year tolalled £170,143 12020 - £345,761). The main recurring sourc8 of income continues lo be salaries and pensions of individual rèligious received under Gift Aid or Deed of Covenant which amounted lo £119,134 12020 £121,550). Contributions from the Congregation's Gen8ralale in Ireland were £7,500 12020 £214,8071. General donations amounted to £3,60012020 - £3,1921 and incom8 from other sources amounted to £39,609 12020 £6,2121. In 2021, this income from other sources included the surplus on the disposal of a freehold property. Expenditu amounted lo £183.548 in 2021 12020 - £144,142) and includes £42,100 12020 £60,000) being contributions to the Congregation's Generalate in Irgland. The monies will be used for the support of the sisters including those returning from overseas missions Net expenditure the decrease in funds for the year was £13,40512020- nel increase in funds of £201,619). The income and expenditure for the years lo 31 December 2021 and 31 December 2020 all relate lo the reporting charity. The linked charity was dormarsl throughout both years. Reserves policy Following the disposal by the linked charity of the Porthcawl propety in 2017 and the transfer of the sisters. the linked charity became dormant ènd does not require reserves. The trustees of the reporting charity have examined the requirement for free reserves i.e. those utirestricled funds not invested in tangible fixed assets, designated for specific purposes or otherwise committed. The trustees consider that. given the nature of the charity's work, the level of Iree reserves should be approximately equal to between two- and six-monlhs, ongoing expenditure (excluding donalionsl. The Sisters of Sl Clare Charitable Trust 6
Trustees, report 31 December 2021 Financial review of the year Iconlinuedl Financial position As the linked charity is now dormant, the financial position al 31 December 2021 below is in ielalion lo the reporting Charity only. The balance sheet shows rèserves of the reporting ¢harity of £406,77312020- £421,083). £361,14012020 £389,443) of the total reserves represents the value of the tangible fixed assets of the charity and is described on the balance sheet as the charity's tangible fixed assels lund. A decision was made to differentiate these from the general fLJnds and other designated funds In recognition of the fact that the tangible fixed assets are used in the day- to-day work of the charity. The fund value, therefore, cannot be realised with ease or wilhoul jeopardising the ongoing work of the reporting charity. Free reserves available lo support the work of the sisters in the future are those shown on the balance sheet as general funds and, at 31 December 2021, equated to £46,538 12020 £31,640) for the reporting charity. Al the dale of the balance sheet, free reserves were within the armounl iriherenl in the policy. This level of reserves is deemed appropriate, and the ttuslees are content th31 the charily is a going concern. Future plans The trustees are looking al thè lulure needs of the members supported by the reporting charity to ensure that each member is fully supported in her ministry while able to continue lo serve the community. The trustees do not anlicipale any significant change lo the charity and its other a¢livilies during 2022 although il is anticipated that one ol the charity s properties will be disposed of. 11 Is the intention of the trustees lo conlinLJe to meet the charity's objectives of canng for members ol Ihe Congregation and lo support the chadlable work of the sisters for the foreseeable future. Structure, governance and management The Sisters of Sl Clare Charitable Trust i.e. th8 reporting charity Is governed by a trust deed dated 10 December 1965 and is registered under the Charities Act 2011. Charity Registration No. 0246649. Organisation In terms of Canon law, the Congregation is governed by the Abbess General 8nd her General Council. They are ple¢led al a General Chapter or meeting of delegates elected by all the Sisters of the Congregation. Members of the General Council are chosen for their personal qualities, their understanding and experience of the ministries of the sisters throughout the Congregation, and lo secure 8 good skills mix. In terms of Civil law, the reporting charity is governed by a trust deed dated 10 Dernber 1965 and is registered under the Charities Act 2011, Charity Registration No. 0246649. The ttuslees are appointed by the members of the Congregation. The trustees who served during the year are shown on page 1. The Sisters of St Clare Charitable Trust 7
Trustees, report 31 December 2021 Structure. governance and managemont Iconlinuedl Organlsation (continued) The trustees are Incorporated under the provisions of the Charities Act 2011. The Iruslees are ultimately responsible for the policies, activities and assets of the charity and also of the related charity. They meet regularly lo review developments with regard lo the charities or their activities and rnake any important decisions. The day-to-day management of the charities, activities and the implementation of policies 15 delegated to the appropriate members of the Congregation. Management reporting lines are clearly dgfined, and the IrLJslee5 receive regular reports and training as considered necessary to enable them lo fulfil their responsibilities. Key management personnel The Iruslees consider that they comprise the key management in charge of directing and controlling, running and operating the charities. However, as noted above, the d2y-lo-day management is delegated to individual members within each community. All trustees and the individual members of a community are members of the Congregation and, whilst the living and personal expenses of Ih05e living in England are borne by the charities, none of them receive any remuneration or reimbursement of expenses in conneclion with their duties as trustees or work as key managomenl. Staten7ent of trustees, respon5ibilitles The trustees are responsible for preparing the trustees, report and the account5 in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acceplad Accounting Praclicel. The law applicable to charities in England and Wales requires the Iruslees to prepare accounts for each financial year which give a true and fair view of the slate of affairs of the charity and ils linked charity and of the Income and expenditure of the charity and ils linked charity for that period. In preparing these accounts, the Iruslees are required lo." select suilable accounting policies and then apply them consistenlly-, Dbserve the methods and principles ln Accounting 2nd Reporting by Charities.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accDrdan¢e with the Financial Reporting Standard applicable to the Unitèd Kingdom and RepLJblic of Ireland (FRS 1021., m8ke judgments and eslimales that are reasonable and prudent-, slate whether applicable United Kingdom Accounting Standards have t>een followed, subject to any material departures disclosed and explained in the accounts., and prepare the accounts on the going concern basis unless il is inappropriate lo presume that the ch8rity and its linked charity will continue in operation. The Sisters of St Clare Charitable Trust
Trustees, report 31 December 2021 Structure, govemance and management Icontinuedl Statement of trustees, responsibilities (continued) The trustees are responsible for keeping proper accounting records that are sufficient lo show and explain the transactions of the charity and ils linked Charity and disclose with reasonable accuracy al any time the f1nancial posiliDn of the charities and enable them to ensure that the accounts comply with the Charities Act 2011 and the related regulations and the provisions of the charities, trust deeds. They are also responsible for safeguarding the assets ol the charities and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Risk management In addition lo acknowledging the challenges presented by the aftermath of the Covid-19 pandemic and the current geopolitical and macroeconomic climate, the Iruslees have assessed the major risks to which the charity and ils related charity are èxposed. The Iruslees believe that by monitoring reseNe levels, by ensunng Controls exist over key financial systems, and by examining the operational risks faced by the charity and ils related charity, they have established effective systems to miligale those risks. The trustees are aware that there is both a moral and legal obligation lo Care for the older members. None of the sisters have resources of their own as all earnings, pensions and other income have been donated lo the charity under a Gift Aid compliant Deed of Covenant. As the age profile increases, so too does the need lo provide Care for the sisters. Key elements of the management of this risk are.. lal ensuring Ihal there are sufficient firiancial resources lo finance this care both now and. in the years, ahead by ensuring that funds are available in the future.. and Ibl ensuring that the sisters are accommodated in properties that are SLJitable for their needs and also with other mèmbers of the Congregation where the sislers receive tha necessary care and support. Signed on behalf of the trustees Sister Anne Kelly Trustee Approved by the Iruslees on.. 30 July 2022 The Sisters of St Clare Charitable Trust 9
Indep8ndent Examiner's report 31 December 2021 Independent examiner's report to the trustees of Roman Catholic Purposes In Connectlon With The Congregation Of The Sisters of St. Clare in Ireland Ithe charity) I report lo the charity trustees on rny examination of the accounts ol the charity for the year ended 31 Dècember 2021. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the 2011 Act'l. I r&port in respect of my exarninalion of your charity's accounts as carried out und8r section 145 of the Charities Act 2011 and in carrying out my examination I have followed all th8 applicable Directions given by the Charity Commission under seGlion 14515llbl of the 2011 Act. Independent examinor's statement I have completed my examinatiOT7. l Confirm that no mallers have come lo my attention in onneclion with my examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the act,. or • the financial statements do not accord with those records., or • the accounts do not comply with the applicable requirements conceming the form and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and f8ir view, which is not a matter considered as part of 8n independent examination I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enaL)le a proper understanding of the accounts lo be reached. Amanda Francis, Chartered Ac¢ounlanl IICAEWI Buzzacott LLP Chartered Accountants 130 Wood Street London EC2V 6DL 23 August 2022 The Sislers of St Clare Charitsble Trusl 10
statemant of financial activities Year to 31 December 2021 Unrestricted funds 2021 2020 Notes Incomè from= Oonalions other sources Total income 130,234 39,909 170,143 6,212 345.161 Expenditure on.. CharitaL& expendilu Support ol mémbers tsf the ConggatiOn and their rninislry D(Jnations Total •xp8n(liture 78.399 106.054 184,453 81,631 62,511 144.142 Net lexpenditurel Income and net movement in funds 114,3101 201.619 Reconciliation of funds.. alances brought fopNard at 1 January 2021 Balances carried forward at 31 December 2021 421,083 406,773 219.464 421,083 All recognised gains and losses have been included in the above slalemenl of financial activities and hence a separato slalement of total recognisgd gains and losses has not been prepared. All activities of the reporting charity derived from continuing operations during the above two financial periods. The Sisters of Sl Clare Charitable Trust 11
Balance sheet 31 December 2021 2021 2021 2020 2020 Notes Fixed a55ets Tangible assets 361,140 389,443 Current assots Cash al bank and in hand 50.933 40,840 current Ilabilitles Creditors. amounts falling due within One year Net current assets 10 15.3001 19,2001 45,633 31,640 Total net assets 406,773 421,083 Represented by.. Funds and reservès Reporting charity unrestricted funds Tangible fixèd assets fund Ger)eral fund 361.140 45.633 406.773 389.443 31.640 421.083 Approved by the Iruslees and signed on their behalf by.. Sister Anne Kelly Trustee Approved on.. 30 July 2022 The Sisters of St Clare Charitable Trust 12
Prineipal accounting policies 31 December 2021 The principal accounting policies adopted, judgements and key sources of estimation uncertaillty in the preparation of the accounts are laid out below. Basis of preparation These accounts have been prepared for the year to 31 December 2021 with comparative information provided in respect lo the year to 31 December 2020. The accounts have been prepaied under the historical cost convention with items recognised al cost or transaction value unless otherwise stated in the relevant accounting policies below or the noles lo these accounts. The ac¢ounls combino. on a line-by-line basss, the results of the ch8rily and ils linked or related charity (see note 151, made up lo the balance sheet datè. The activities of the linked charity, The Sisters of St Clare Charitable Trust {Charily Registration No 246649-11. ceased during 2017 following the Sale of a propety in PDrthcawl. Further infom)alion on the cessation of activities by the linked charity is provided in the notes to the accounts. Following the disposal of the linked charity's property in 2017, ils nel assets were donated to the Generalale of the Congregation. The objectives of the Gener21ale are consistent with the objectives of the linked charity and the funds will be applied towards the support of the sisters, including those returning from ovgrseas missions. The accounts have been prepared in accordance with Accounting and Reporting by Charities- Statement of Recommended Practice applicable lo charities preparing their accoLJnls In accordance with the Financial Reporting Slandard applicable in the United Kingdom ad Republic of Ireland Icharilies SORP FRS 1021 issued ori 16 July 2014, the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021 and the Charities Act 2011. Both the roporting charrty and Ils linked charity constitute public benefit entities as defined by FRS 102. The accounts are presented in sterling and are rounded to Ihe nearest pound. Critical accounting estimate5 and area5 of judgement Preparation of the accounts requires the Iruslees to makè significant judgements and eslimales. The items in the accounts where these judgements and 8Stimates have been made include.. eslimaling the useful economic life of tangible fixed assets., and estimating the future income and expenditure flows of the charity for the purposa5 of assessing going concern. The Sisters of Sl Clare Charitable Trust 13
Principal accounting policies 31 December 2021 Assessment of going concern The trustees have assessed whether the use of the going concem assumption is appropriate in prepaiing these accounts. The trustees have made this assessment In respect to a period of at least one year from the dale of approval of these accounts. Linked charity Al 31 December 2021, the linked charity had no assets ar)d no liabilities. Since 31 December 2017 il has remained dormant and will continue lo do so until such time as a decision is made to remove il from the Register of Charities. Reporting charity The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The Iruslees have made this assassmenl in respect lo a period of at least one year from the date ol appiovèl of these accounts. The Iruslees of the charlty have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the Gharily lo continue as a going concern. The Iruslees are of the opinion that the charity will have sufficient resources lo meet ils liabilities as they fall due. The most significant area5 of judgement that affect items in the 2ccounls are detailed above. Income recognitlon Income is recognised in the pefiod in which the charities have entittemenl lo the income, the amount can be measured reliably, and it is probable that the irLcome will be received. Income Comprises donations and miscellaneous income. Miscellaneous income includes income from charitable activities such as contribullons from visitors and other sundry income. Donations, including salaries and pensions of individual religious received under Gift Aid or deed of covenant. are recognised when the charities have confirmation of both the amount and settlement dale. In the event of donations pledged bul not received. the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to con(Sitlons thai require a level of pefformance t)efore either charity 15 entitled to the funds, the illcome 15 delerred and not recognised until either Ih05e conditions are fully mel, or the fulfilmenl ol those conditions is wholly within the control of the relevant charity, 8nd il is probably that those conditions will be fulfilled in the reporting period. The surplus on the disposal of tangible fixed assets is calculated as the difference between the sale proc6ecJs nel of sale cost5 2nd the nel book value of the asset immediately prior lo disposal. It is accounted for once legal completion of the disposal has taken plac8. Other income is m8asured al fair value and accounted for on an accruals basis. In a¢¢ordance with the Charities SORP FFiS 102 volunteer time is not recognised. The Sisters of St Clare Charitable Trust 14
Principal accounting policies 31 December 2021 Expenditure recognition Liabilities are recognised a5 expenditure as soon as there is a legal or constructive obligation commilling either charity lo make a payment to a third party, il is probable that a transfer of econornic benefits will be required in settlement and the amount of the obligation can be tneasured reliably. All expenditure is accounted for on an accruals basis. All expenses are allocated ID the applicable expenditure headings. The majority of expenditure is directly attributable and any sPPOrtionmenl between headings is negligible. Expenditure ori charitable aclivilies includes all costs associated with furthering the charitable purposes of the ielevant charity through the provision of ils charitable activities and includes.. Expenditure on the support of members of the Congregation and their ministry. Such expenditure enables the members to carry out the work of the relevant charity In the areas of the advancement of the Roman Catholic faith, the relief of poverty and supporting the other charitable attlivilies of members of the Congregation. Grants and donations to SLJPPOrt the CongregatlDn's own work overseas and lo support other charitable organisalions with objectives consistent with those ol the relevant charity. All expenditure is slated inclusive of irrecoverable VAT. Support and governance costs Support costs represent indirect charitable expenditure. In order lo carry out the primary purposes of the charities it is necessary lo provide support in the form ol financial procedures, provision of office setvices and equipment and professional fees. Governance costs comprise the costs involving the public accountability of the relevant charity (including audit costs) and costs in respect to its compliance with regulation and good practice. All expenditure on support and govemance is allocated lo Ihe charitable activities of care of members of the community and enabling their ministry as any costs in relation lo provision ol donations and grants or raising funds is considarÈd lo be minimal. Tangible fixed assets All assets costing more than £1,000 and with an expected useful life exceeding one year are capitalised. Freehold land and buildings Non-specialised buildings i.e. those designed as, and used wholly or rnainly for, private residential accommodation. They ar9 stsled in the accounts al historical cost. Such buildings are not depreciated. Their value and conditions are reviewed annually by the trustees, who 8re satisfied that their residual valLJe is not materially less than their book value. The Sisters of St Clare Charitable Trust 15
Principal ac¢ounting policie5 31 December 2021 Tangible fixed a55ets Iconlinuedl Motor vehicles. furniture and equipment Motor vehicles are capitalised and depreciated over 3 five-year period on a straight- line basis in order lo write off the cost of each vehicle over its estimated Ljseful life. Equipment is depreciated over len years on a straighl-line basis in order to write off the cost of each asset over ils estimated useful life. Debtors Debtors are recognised al their settlement amount, less any provision for non- recoverability. Prepayments are valued al the atnounl prepaid. They have been discounted lo the prgs8nl value of the future cash receipt where such discounting is material. Cash at bank and in hand Cash al bank and in hand represents such accounts and instruments that are 2vailable on demand or have a maturity of less than three months from the date of acquisition. Creditor5 and provisions Creditors and provisions are recognised when there is an obligation al the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in selllement, and the amount of the settlement can be èslimaled reliably. CrediloTS and provisior)s arè rocognised at the amount the charity anticipates it will pay lo sellle the debt. Creditors are discounted lo the present value of the future cash payment where such discounting is material. Fund structure Each charity's funds comprise unreslricl8d income fund5 which are available for application towards that charity's objectives. Within such funds the trustees have identified those non-liquid funds represented by tangible fixed assets. Services provided by members of the Congrggation For the purposes of these accounts. no monetary value has been placed on the adminislralive and other services provided by members of the Congregation. The Sisters of Sl Clare Charitable Trust 16
Notes to the accounts 31 December 2021 1 Income from.. Donations and legacies 2021 2020 Salaries and pensions of individual religious received under Gift Aid Dr Deed of Coven8llt Contributions frorn tho Congregation'5 G8ner8lale in Ireland (note 151 General donations 119,134 7.500 3.600 130,234 121,550 214.807 3,192 339,549 Contributions from thè Congregation's Genèralale in 2020 Include £205,807 towards the purchase of a freehold propety. 2 In¢ome from.. Other sourcos 2021 2020 Fuel allowanee 300 300 Surplu5 on dispos81 of tsngible fixed assets- freehold property Miscellaneous 33.823 5,786 39,909 5.912 6.212 3 Expenditure on- Support of members ofthe Congregation and their ministry 2021 2020 Premises 23.546 42.15 4,424 18,778 44,511 3.293 Siste. living and personal expenses Education, training and spiritual renewal Support costs General adrninistration and support Governance costs Inote 51 4.671 3,600 78,399 5,649 9,400 4 Expendlture on.. Donations The charities make donations principally in support of the overseas work of the Congregalion of the Sisters of Sl Clare and other causes which further the Christian faith and alleviate poverty. The donations paid during the year were as follows.. 2021 2020 Contributions to the Congregation's Generalate In Ireland (not8 151 Donations tu inslilulions Donations to individuals 102,823 890 60,000 785 2,341 106,054 1.726 62,511 Donations lo individuals comprise a number of small monetary gifts aimed al relieving poverty by enabling the recipients lo purchase food, clothing, elc. The Sisters of St Clare Charitable Trust 17
Notes to the accounts 31 December 2021 5 Govemancg ¢OSt5 2021 2020 Audilor's remuneration- statutory audit Independent examination lees 11,7001 5,300 3.600 9,400 9,400 6 Net lexpenditurel income and movement in funds This IS Staled after charging Icredilingl.. 2021 2020 Sl8ft usts (note f I Independent exatniner l audit lees Current year Prior year Depreci8tiori Surplus on disposal of tangibl8 fixed assets 2,284 2.832 5.300 11,7001 303 9,200 200 3,60D 133.8231 7 Staff costs. key management personnel and trustees, remuneration The reporting charity incurred staff costs of £2.284 during the year 12020 £2,832) in respect to one individual 12020 onel- Staff costs relate lo support of members ol the Congregation. No employee earned £60,000 per annum or more (including taxable benefilsl during the year12020- none). As members of the Congregation, certain of the trustees, living expenses during the year were borne by the charities. No trustee received any remuneration or reimbursement of expenses in connection with their duties as trustees during the year12020 £nill- The members of the individual communities who are responsible for the implemenlalion of the Iruslees, policies al community level are also members of the Congregation and their living expenses during the year were bome by the charity. The members did not receive any remuneration or reimbursement of expenses in connection with their duties during 2021 or 2020. 8 Taxation Both the reporting charity and the linked charity are registered charities and, therefore. are not liable lo income lax or corporation tax on income derived from th8ir charitable aclivilies, as it falls within the various exempliDns available to registered charities. The Sisters of St Clare Charitable Trust 18
Notes to the accounts 31 December 2021 9 Tangible fixed assets Fretrhold land 3nO MolDr vehicle8 and eouipment non-sperialised Total At COSt A.. 1 January 2021 Additions 386.807 33,318 3,029 423,214 iSPDsa15 Al 31 DeGernber 2021 128.0001 358.807 128,0001 395,214 33.378 3,029 Depreciation Al l January 2021 Charge In the year At 31 Decnber 2021 33.378 393 33,771 303 303 33.378 696 34,074 Net book Values Ai 31 December 2021 358,807 2.333 361,140 389,443 At 31 December 2020 386,807 2.636 As explained under principal accounting policies, the book value of the non-specialised land and buildings shown above Is Stated al historical cost. As permitted by FRS 102. both charities have continued lo adopt a policy of not revaluing their tangible fixed assels. 11 is likely that there are material differences beeen the open market values of each charity s non-specialised land and buildings and their book values. The amount of such differences cannot be a5Gertained without incurrillg significant Costs, which. in the opinion of the Irustebs, is not justified In terms of the benefit lo the users of the accounts. Other tangible fixed assets are slated al cost. 10 Creditors: amounts falling due within one year 2021 2020 Accruals and other creditors 5,300 9,200 The Sisters of St Clare Charitable Trust 19
Notes to the accounts 31 DecembeT 2021 11 Tangible fixed assets fun 2021 2020 At 1 January Nel movément in year At 31 December 389,443 128,3031 361,140 186,236 203,207 389,443 The tangible fixed assels funds represe1 the nel book value of each charity's tangible fixed assets. A decision was made to separate these funds from the general funds of each charity in récognition of the fact that the tangible fixed assets are èssential lo the day-to- day work of each charity and as such their value should not be regarded as funds that would be realisable with ease, in order to meet future contingencies. 12 Analysis of net assets between the reporting charlty and the linked charity 2021 2020 Fund balances at 31 Decgmbor arg represenlgd by-. Tangible fixed assets Cash al bank and in hand Creditors". amounts falling due within one year Net current 3ssets 361,140 50,933 15,3001 45,633 406,773 389,443 40,840 19,2001 31,640 421,083 Total net assets There are no unre31ised gains included in tre assets of th8 reporting or the linkgd charity. 13 Ultimate control The charities, both of which are conslituled as a Irusl, were controlled throughout the period by The Congregation of the Sisters of St Clare by virtue of the fact that the Abbess General of the Congregation and her Councillors comprise the Iruslees. The English Region does not hold any assets, incur liabilities or enter into any Iransa¢lions in its own right. Assets and liabilities of the English RlOn are vested in Ihe trustees of the charities, who undertake all Iransacb'ons entered into in the course of the Region's charitable aclivilies. 14 Uniting direction Following an application lo the Charity Commission, the reporting and linked charities were issued with a Uniting Direction under section 12111 of the Charities Act 2011 . Roman Catholic Purposes lrn Conr)eclion With The Congregation ol the Sisters of St Clare In Ireland (Charity Registration Number 2466491 is the reporting ¢harily and its related charity, Roman Catholic Purpose5 In Connection With The Congregation of the Sisters of Sl Clare In Irelané - The Porthcawl Charity (Charity Registration Number 246649-11 is the linked Gharity. The effeci of the Unlling Direction for accountancy and reporting purp05e5 15 that a 5insle sel of a¢counls is presented for the charities combined. Under Ihe Uniting Direction. both charities continue lo exist as independent entities in all other respects. The Sisters of Sl Clare Charitable Trust 20
Notes to the aceounts 31 December2021 14 Uniting direction Iconlinuedl As previously noted, the linked charity is now dormant and will remain as such until such lime as Iruslees decide lo agply to the Charity Commission lo have the linked charity removed froffl the Register of Charities. 15 Connected charity and related party transactions The reporting charity and the linked charity Inole 14} are connected ID the Congregation's Generalate (which has charitable status in the Republic of Ireland) as a result of the charities, Iruslees also being trustees of the Irish charity. During th& year the following transactions took place between the reporting charity and the Insh charity.. 2021 2020 Transactions durlng the year Settlement of professional fees and expenses by the Generalate on behalf of the charities (note I) Contribution received toward property purchase Intste 11 Contributions paid (note 41 17,5001 19,0001 1205,8071 60.000 102,823 Included within contributions paid to the Generalale in 2021 is an amount equivalent lo the nel proceeds from the disposal of the freehold property in the year i.e. £61,823. There were no related party transactions beeen the linked charity and the Congregation's Gener8late12020 - none). There were no other re12ted party Ir8nsaclions during the year requiring disclosure12020- none}- The Sisters of St Clare Charitable Trust 21