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2021-03-31-accounts

The Community of the Holy Name Annual Report and Financial Statements For the Year Ended 31 March 2021

THE COMMUNITY OF THE HOLY NAME

Contents

Page
Reference and administrative details of the charity, its trustees and advisers 1
Trustees’ report 2
Independent auditors' report 19
Statement of financial activities 22
Balance Sheet 23
Notes to the financial statements 24

THE COMMUNITY OF THE HOLY NAME

Reference and Administrative Details of the Charity, its Trustees and Advisers For the year ended 31 March 2021

Trustees Sister Edith Margaret Constable (Provincial Superior)
Sister Diana Morrison (Assistant Superior)
Sister Julie Elizabeth Adams (Bursar)
Sister Catherine Smith
Sister Theresa Margaret Proudfoot
Sister Lynfa Handley
Sister Monica Jane Williams (term ended August 2020)
Sister Pauline Margaret Prentice (term started August 2020)
Bill Waddington (appointed 30 October 2021)
Charity registered number 250256
Principal office Convent of the Holy Name
Quarry Bank
Woodfield Lane
Hessle
HU13 0ES
Auditors Sowerby Chartered Accountants
Beckside Court
Annie Reed Road
Beverley, East Yorkshire
HU17 0LF
Accountant (until October 2020)
Richard Shaw Chartered Accountant
The Granary
Caldewell Farm Barns
Pershore Road
Stoulton
Worcester
WR7 4RL
(from November 2020) Steve Baker ACA MAAT
Westlands Chartered Accountants
McMillan House
6 Wolfreton Drive
Anlaby
HU10 7BY
Bankers The Royal Bank of Scotland plc
62/63 Threadneedle Street
PO Box 412
London
EC2R 8LA
Investment Canaccord Genuity Wealth Management
Advisors Slip House
Princes Drive
Worcester
WR1 2AB

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THE COMMUNITY OF THE HOLY NAME

Trustees’ report for the year ended 31 March 2021

Legal status and administration

The Charity is registered with the Charity Commission as the Community of the Mission Sisters of the Holy Name of Jesus with registered number 250256.

The Permanent Endowment and Expendable Endowment Funds are governed by a Scheme of the Charity Commission dated the 22nd September 1987.

The Clergy House of Rest and St Edward’s Orphanage, subsidiary charity no 4 in the Charity Commission Central Register of Charities is a restricted fund for general educational purposes or for any charity connected with the Church of England.

The remaining charitable Funds of the Community are governed by the Constitution of the Community.

The Community of the Holy Name is an Anglican Community of Sisters living under the 3 vows of Poverty, Celibacy and Obedience.

There are 3 provinces of the Community - UK, Lesotho and Zululand. This report refers mainly to the UK Province, which is governed by the Provincial Chapter. All Sisters in Life Profession are members of the Chapter, and are entitled to vote. The administrative authority is entrusted to the Provincial Superior, who is elected by the Chapter, and other officers appointed by her. She is advised by a Council whose membership is partly elected and partly ex officio.

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Trustees’ report for the year ended 31 March 2021

Trustees

The Trustee Body consists of Trustees appointed under the Constitution of the Community of the Mission Sisters of the Holy Name of Jesus, which was incorporated under the Charities Act 1993 on 10th April 2002 as "The Trustees of The Community of the Holy Name. “Under Constitution 24.2, the members of the Trustee Body are the Provincial Superior, the Assistant Superior and the Sister Bursar (all Ex Officio) together with four Sisters in Life vows elected by the Chapter of the Community of the Mission Sisters of the Holy Name of Jesus.

Trustees Meetings

The Trustees have met 4 times (May, July and October 2020 and February 2021) during the course of this financial year. 2 of these meetings were conducted on Zoom. In the interim, urgent decisions have been made via email, and recorded at the next trustees meeting. The annual review of the past year’s performance with our Investment Manager, Mike Davies of Canaccord Genuities Wealth Management Ltd took place at the trustees meeting in October 2020. Our investment policy is unchanged from the previous year.

The Budgets Group is a sub-committee of the Trustees Body which has the responsibility of meeting quarterly to compare the accounts with the set budget and to clarify any anomalies. This information is then reported back at the next Trustees meeting. Budgets Meetings have been held via email this year. It has been agreed that solitaries should inform the bursar before making any expenditure over £200.

Finance Management

The Internal Financial Management Risk Assessment was completed prior to the audit taking place.

The draft copy of the accounts was agreed by the trustees at their meeting in July. The audit meeting was carried out in January 2022 and the final version of last year’s accounts and trustees report was signed and printed in January 2022. Richard Shaw, our Finance Manager for many years, then retired and passed on all the relevant files to Steve Baker, our new Accountant.

The trustees are aware that a long-term financial reserves policy needs to be put in place and this will be formulated once we have moved and have a clearer idea of our income / expenditure.

Appointment of Trustees and Officials

The Provincial Superior, Assistant Superior and Bursar are all ex-officio members of the Trustee Body. 4 other members are elected by the Chapter from a list of Sisters compiled by the Council. Elected Sisters serve for 3 consecutive years in the first instance and may be re-elected for a further period of 3 years. After 6 years, Sisters are not eligible for re-election for 3 years.

New Trustees are given an induction pack, containing a copy of The Essential Trustee and supplementary material from The Trustees Handbook 2017, the investment policy, minutes of recent meetings of the Trustee Body and the latest set of accounts.

Trustee Training

The Bursar and Sr. Monica attended a webinar on Ethical Investments and another on the Use of Zoom. The Bursar has attended webinars on the Trustees Regulatory Update, COVID and Investments, COVID and the Trustees Report, Cyber Security, Preparation for the Appointment of a Lay Trustee and several sessions of Bursars’ Questions and Answers. They have been very informative and information from them has been shared at the Trustees meetings.

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Trustees’ report for the year ended 31 March 2021

Risk Management

In all houses of the Community, the Trustees operate a policy of risk management, establishing resources and reviewing systems which should allow risks to be identified and mitigated where circumstances permit to an acceptable level from day to day.

Work has taken place to keep up to date with the requirements of the Risk Management Policy and Risk Register, and to comply with the latest fire regulations.

Current policies have been reviewed and new ones adopted by the trustees, where necessary. We have reviewed our insurance needs with our insurance agent and updated our policy.

Objects and Benefits

The Objects of the 1892 Endowment Fund are governed by the Trust Deed under which the income shall be applied for the payment of rates, taxes, charges, assessments and outgoings (including maintenance repair and insurance) of the Community’s buildings with any surplus being applied for the benefit of the Sisters of the Community.

The Objects of the Permanent Endowment Fund and Expendable Fund are governed by the terms of the 1987 Charity Commission Scheme.

The objects of the Charity include the furtherance of the general purposes of the Community.

The income of the Charity, and at the Trustees’ discretion, the whole or part of the capital of the Expendable Fund, is to be applied in meeting the cost of maintaining the property of the Charity (including the repair and insurance of any buildings thereon) and all other charges and outgoings payable in respect thereof and all the proper costs, charges and expenses of and incidental to the administration and management of the Charities.

The trustees may at any time apply income and at their discretion the whole or part of the capital of the Charity in or towards the provision, replacement, rebuilding, improvement, adoption or extraordinary repair of land and buildings of the Charity, but subject to terms relating to recoupment in respect of the Permanent Endowment Fund as contained in the Scheme.

Subject as aforesaid the Trustees shall apply the income of the Charity, and at their discretion the capital of the Expendable Fund, in furthering the objects of the Charity in such ways as they think fit.

The Object of the Community is governed by the Constitution of the Community and is as follows:

The Object of the Community, in its dedicated life of poverty, celibacy and obedience, is to spread the gospel of Jesus Christ, in accordance with the Anglican tradition and the spirit of the Founders of the Community, by:

The Trustees confirm that they have complied with the duty in the Charities Act to have due regard to public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity. All the Trustees have read the Charity Commission document ‘The Essential Trustee’ (published 2013), and further guidance given in 2017. Both in its objectives (see above), its history and its current activities, the Community of the Holy Name sees its role as part of God’s mission, seeking to bring his reconciling love to all people in all places. The Community believes that the Christian faith is of benefit both to individuals and to society as a whole.

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REVIEW OF ACTIVITIES

Solitaries

The Community continues to support 2 of its members called to the solitary way of life, each Sister living her own individual expression of this vocation. One lives in N. Wales and the other in Somerset. The basis of each of their lives is prayer, worship and intercession in the service of God and the world. Both of our solitary Sisters are used as companions along the way by people who visit or write to them.

Sister Verena continues to live in rented accommodation in Aberdaron.

Sister Carol lives a life of prayer in Weston-in-Gordano. She takes on a few speaking engagements.

THE CONVENT – DERBY

Provision of Care

The Community has employed an Administrator and, among his other responsibilities, he has managed all the paid staff, including the members of the Care Team who have worked on a rota basis to provide 24 hour care for those Sisters who need it. Although we are not required to register with the Care Quality Commission, we have used their benchmarks to ensure that the care we provide for our Sisters is of the highest standard. The responsibilities of the whole Care Team are detailed in the Staff Handbook (revised 2018) and two members of the team have taken on extra responsibilities: one being responsible for medications and the other for ensuring that there is a rota to enable the team to meet the agreed staffing level.

Two Sisters also received a care package from an outside agency. This provision ceased when they moved to Hessle in August. In September, as a consequence of the above, we reduced the number of hours worked by the Care Staff. Some carers took voluntary redundancy and others agreed to work the new morning and evening 4-hour shifts. Due to the deterioration in health of another sister, some night work provision has been re-introduced.

Due to the demographic and health of the Community, we have found it necessary to employ staff to do most of the cooking and cleaning.

Relocation Project

The plan to relocate and downsize to a replacement building, which meets the future needs of the Community both in carrying out its purpose and in becoming financially viable, has been carried out this year.

After visiting several houses, it was agreed that a property named Quarry Bank in Hessle, near Hull would fulfil our needs, once it had been adapted and renovated. The property consists of 14 bedrooms in the main house, which had previously been used as a Care Home, and an annex, which had been used as a Day Centre.

The Community had previously appointed a professional commercial estate agent to advise us on the purchase of Quarry Bank and the sale of the Derby Convent site. A professional architect was employed to draw up plans for the alterations and a Project Manager / Clerk of Works local to Hessle was appointed to see that the works were carried out to our satisfaction.

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Completion of the purchase had taken place on 31[st] October 2019 and the Bursar had moved in on that date. She was joined by another sister in February 2020. The occupation of the building enabled an overdue gas safety check and electrical installation inspection to be carried out and for the resulting information to be fed into the plans. An asbestos survey showed that the only asbestos present was in one of the chimneys and it was arranged that this would be professionally removed as part of the renovation project. A tree survey was also completed to give an indication of the health of the trees on the site for risk management purposes. Works to remove several tree stumps and a small tree, whose roots were interfering with a drain, were carried out and permission sought for other works to be carried out in future, so that the healthiest trees can continue to flourish.

The architect’s plans for the changes to the building were agreed by the Trustees on 5[th] February 2020 and written Planning Approval for change of use from a Care Home to a Convent and for the alterations, and the Building Regulations Approval were both granted on 5[th] June 2020. There are 2 phases to the project:

Phase I Conversion of the former Day Centre

The annex behind the main house was designated to provide the 2 extra bedrooms needed to house all the Sisters. The conversion went out to tender to 2 local, well-respected firms and their resulting quotes were sent to the Project Manager and forwarded to the trustees. It was agreed that a local firm, S. Voase Construction Ltd., be awarded the contract, on the basis that they had good green credentials, were slightly cheaper, came to inspect the site, and could begin work in 3 weeks’ time.

The annex now houses, in addition to the 2 extra bedrooms, a hall, seating area; kitchen and shower room. It has been converted to meet current accessibility standards. When the bedrooms are no longer needed by Sisters, the building will be used to provide hospitality for residential guests.

The conversion was completed on 7th July 2020 at a cost of £50,000 and the building was consequently revalued at £60,000. If planning permission were to be granted, at a later date, for the annex to be fenced off with its own portion of land, its value would then increase. The 2 Sisters who had previously been camping out in the main house moved into the Annex (to be renamed The Lodge at the end of July. Church working parties helped out with the move and also helped to prepare the main house for the builders to start work.

Phase II – Renovation of the main house

The trustees held a site meeting at Quarry Bank to agree on the general principles for the renovation and then the 2 trustees resident on site suggested various alterations. These were sent by email during the 1[st] lockdown to the other trustees in Derby and adjustments made where necessary, before the final specification was agreed.

As a result of the tendering process, S.Voase Construction Ltd. accepted the contract for renovations to the main house and work started on 21[st] September 2020. The trustees and Project Managers worked together with Voase to identify where any further savings could be made.

The final Extension and Renovation Specification includes the following works:

  1. New lift shaft and extension

  2. Demolition of a poorly-constructed bathroom and small room adjacent to it and replacement with 2 new small sitting rooms, disabled toilet and wide passageway.

  3. Building of a new outside lift shaft in a central position and 3 lift lobbies. (The house is arranged on many different levels, making the need for a couple of steps up and down in many places – the Architect had concluded that this was the only way to make most of the bedrooms more accessible on the level.)

  4. Exterior Works

  5. General renovations, repointing, roofing, painting etc.

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3. Interior Works

The works have been delayed by a period of COVID self-isolation and bad weather, but have generally run smoothly.

Review of the past year’s activities (April 2020 to March 2021

This year’s report of activities should be read in the light of COVID restrictions. Wherever possible Sisters have adjusted their ministry to work within the restrictions.

Social Media Outreach – Sister Catherine

Not being able to go out and do the normal things such as the Open the Book project in local schools has been frustrating, but I have found over the past year a different way of connecting with people. Like so many others I have connected via social media and the internet, which has proved fun, thought provoking and challenging.

Zooming

In October I was invited by Brother Finian SSF to take part in a monthly Zoom meeting he had begun, where people can ask questions and talk about the Religious Life. The meetings began life as an informal ‘picnic in the park’ but with the lockdown had to change into an online get together. The meeting is open to anyone and Finian invites guest Sisters and Brothers from different communities to join him and tell their vocation story. Some of those who join in the meeting are just curious but others are exploring a sense of vocation.

It was a lot of fun and the meeting lasted around one hour. I told my story of my calling and Finnian and me answered questions that ranged from “Who does the cooking?” to “What do you do if you don’t like someone in the community?” A little tact was required for that question!

Hosting

Another way I have joined in online is by hosting the ‘Anglican Religious Life’ Twitter feed (@monknunCofE) for a week. This is hosted every week by members of different religious communities. There has been everything from enclosed sisters to associate members of communities hosting the feed, explaining how their life is lived out as a member of a Religious Community.

Twitter Prayers

One of the things I became aware of over the year has been the number of prayer requests that are put on Twitter. I began to notice them earlier in the year and started to write them down. There is an anonymity on Twitter that allows people to express their feelings in a way they wouldn’t face to face. Here are a couple of examples of the prayer requests that have come over the year.

Some are very short,

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‘ Please pray for me if you are the praying kind. I’m doing my best but 2020 is winning.’

While others are longer,

‘I told my spiritual director that I feel like God stood me up this year. I kept showing up, kept calling, kept leaving messages and sending letters, but God didn’t show up.

Intellectually, I believe and know that is not true. My heart is so sad today.

I’ve spent this year soaking in sadness, the grief, the anger, the fear and the longing of others in my work both as a priest and as a hospital chaplain. I have so much of my own.

As Christmas approaches, I feel myself approaching a breaking point, so I let myself cry today.

I’m still sad about not getting the ordination I dreamed of; I’m lonely. I miss my friends, I miss being a little kid at Christmas with my brother, when things were so simple. Yet even so, I love who I have become. I’m trying to be braver.’

These prayers fed into my intercessory prayer and I have begun to collate them and put them into the prayer

folders for the sisters to pray.

When a prayer comes up I now respond to the tweeter promising prayer for them. Sometimes it is a request for prayer for a person or a situation and the anonymity makes it a challenge; you sometimes don’t even know the person’s name or the whole story, all you an do is place the person into the hands of God and rest in the knowledge that God knows who you are talking about.

Volunteers

We have had 2 regular volunteers, who have come in to help at the Convent, when allowed. Another volunteer has, with the help of his wife, maintained the graves of the sisters in the local churchyard and others have helped with downsizing in preparation for our move.

Hospitality

The Community has continued to provide rooms for visitors and those who wish to talk with a sister on a one-off basis or for spiritual direction, when allowed.

Those who have not been able to visit have kept in touch with a sister by phone or zoom. 8 Sisters have been

involved in this ministry and have helped 40 people in this way. Those who have been in contact have expressed their gratitude for the opportunity to discuss their life and ministry with ‘their’ Sister and then to return to their individual situations to continue their own outreach and mission.

The sisters in Hessle, being unable to invite guests into the house, took advantage of the fine weather during the first lockdown to meet them in the garden. Once boarding had been erected round the site for the renovations to take place, they have loitered with intent on the paths outside the building in order to meet those passing by for short socially-distanced conversations

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Sister Diana on Zoom
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Despite the present and for the past "Lockdowns" The Convent of the Holy Name has been a lifeline for me. I have attended on a weekly regular voluntary basis. Although I have missed the "Face to face" contact, I have been fortunate enough to have had weekly phone conversations with Sr. Brenda who I was able on one occasion when out shopping to do some for her with shoe polish and treats for Bella the resident puss.

Sr.Diana has kept in touch via emails, bringing me up to date with what has been happening and to whom.

I have also been following the building progress at Hessle via Facebook thanks to Sr. Julie. Sr. Catherine also posted photos and comments on the clearing of the garage and also some recent ones of January's snow. David R Hemm FHN

The Guest Cottage

The Cottage has been closed to resident guests this year and has been set aside as a place of self-isolation: one sister was able to self-isolate here at the beginning of the pandemic. It has also been made available for sisters’ holidays. In between the lockdown periods, it has been used instead as a COVD-protected meeting place.

Garden

The gardens have continued to be used to enable Sisters and visitors alike to find a quiet space in which to be still and reflect. They have also been used this year as a meeting place for sisters and others, whilst indoor meetings could not take place.

Chapel - Office Workers – Sister Pauline

In these strange times, among phrases that have become common-place are: ‘Working from home’ and ‘Those who can, should.’

Our main ‘work’ is of course ‘The Divine Office,’ the corporate worship, of the Community. As we are already ‘at home’ when we are engaged in this work, we are just getting on with it. Of course we have become more and more aware that this office work is not only our duty but our privilege.

We are deeply conscious that other Christians (and indeed worshippers of other faiths) have been denied this privilege. We have rejoiced to hear and experience that ways have been found to hold worshipping communities together via technology and other networking, and that there has even been an encouraging missionary dimension to such ventures.

We have been both humbled and challenged when our bishop and others have expressed appreciation and gratitude to us for getting on with our own ‘office work’.

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We have, I believe, become more conscious of the intercessory dimension of our Office and home Eucharists. This can point all of us to the vast world-wide web of prayer. This cosmic web has a sensitivity to the actions and prayers of every single Christian community. Indeed it is sensitive to the intercession of every single Christian anywhere. The web vibrates in the heavenly places through Jesus Christ ‘who ever lives to make intercession for us.’ (See Hebrews 7:25)

May God be praised for the vocation of each of us within this holy network!

Sister Theresa Margaret has continued to communicate with others through her ‘visual work’, both in the Convent chapel and elsewhere.

Events and Publicity

Derby

In place of an annual magazine, newsletters, detailing the progress of our plans and other articles, have been published quarterly. These have been distributed amongst the Fellowship members, who then pass them on to their own church family and others. They have also been sent to other friends of the Community and posted to the website.

Hessle

Copies of the newsletters were given to our new neighbours. Just before the first lockdown, Sister Julie gave a short talk in All Saints Church, Hessle (our new parish church) about CHN and its way of living out the religious life. An update later appeared in the Church Magazine, and an article about the proposed new use of Quarry Bank was published in the Hull Daily Mail.

A name sign for the new Convent was erected as soon as possible.

News from Derby and Hessle has been posted regularly on our Facebook page.

Study Days and Conferences

The bursar attended the virtual Bursars’ Conference and shared Information from the sessions at trustees meetings.

Other Activities and Outreach

Sisters have engaged in pastoral work or helped others through their listening ministry.

Sister Pippa writes,

‘I’ve maintained my pastoral role in an inner-city parish, mainly by telephone this year. I’ve kept in touch regularly with housebound people I would normally visit, with people who have had to shield alone during the pandemic, people without families and people with mental health conditions that the pandemic has made worse. With others, I’ve tried to support people who have been bereaved during the year and do keep in touch by cards and messages with parishioners hospitalised with Covid 19. We’ve all felt saddened by what we have not been allowed to do.

I’ve kept in contact by telephone and letter with people I would normally see for spiritual accompaniment or long-term emotional support and with people for whom I am link sister in the CHN Fellowship. Some face to face meetings were possible during the summer.’

Sister Diana reports,

My physical links (going back 15 years) with All Saints’ Church Breadsall were not possible during lock-down but I have kept in touch with several members of the congregation, particularly those living alone and feeling isolated from family and friends, by phone and email and Zoom meetings for ‘after church coffee’. I have also kept in touch in this way with 2 of the couples I married in 2019 and have been able to continue to support bereaved families from earlier funerals. I was invited to take part in one of Breadsall’s pod-cast services.

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I continued to mentor the person whom I had encouraged in her funeral ministry, and it has been good to see her gain in confidence and begin to flourish in these difficult times and circumstances and her ministry being so appreciated by those who have been bereaved.

I was able to continue with spiritual direction ministry by arranging zoom meetings or telephone appointments and this seemed to work well and has been appreciated. Contact could continue in this way once we have moved to Hessle.

I took part in the diocesan clergy conference online. This was a bonus as I probably wouldn’t have wanted to travel to a residential conference while awaiting hip surgery.

I have continued to sign on-line petitions dealing with human rights, social justice, climate change etc. and have attended prayer vigils for peace and a demonstration against tree felling to enable the proposed building of a flyover on the A38 very locally. I hope

to be able to attend (virtually) the Justice and Peace Conference for religious communities in April.

The Fellowship of the Holy Name (FHN)

Members (76) commit to a disciplined life of worship and service to God, His Church, and the world around them. There is mutual support between the Community and the Fellowship – members live by a personal Rule of Life, and can ask for one of the Sisters to encourage and support them in their Christian Pilgrimage and the living out of their Rule. There is (under normal circumstances) an annual gathering of members (Fellowship Day) held at the Convent. Area meetings, organised by the members themselves, are usually held twice yearly in Derby, and Chester, The Malvern Group has stopped having meetings, due to a deterioration in the health of members, but the group continue to have contact among themselves via phone and email. A newsletter and prayer leaflet are sent out regularly and a prayer network for sending round requests for urgent prayer for Sisters and FHN members by email or phone is maintained.

CHN PROVINCES OF LESOTHO & ZULULAND

These two provinces have their own Chapter, Superior and Council. However, the UK province continues to help with finance – two portfolios were set up in 1992, from which a set dividend is paid quarterly to each province. In 1996 the portfolios were increased.

Both provinces will continue to need help with money for education and nursing care. AIDS is a major cause of poverty in both countries. The Sisters visit and buy food for AIDS orphans. The Sisters who are nurses and teachers also work alongside AIDS sufferers.

African Sisters who have received training in the UK have passed on their experience to others to help in their own country. Gardening skills are passed on and home-grown produce helps feed the Sisters and the children. It is generally accepted that the poor are getting poorer as the cost of basic foods and medical needs become more expensive. Jobs are scarce and often low paid.

There is great concern about the HIV/AIDS situation. Most sufferers can get the retro-viral tablets they need but some are misused, stolen by the less scrupulous or re-sold if poverty demands it.

Lesotho

There are now 10 Sisters in life vows. Most of the Sisters are based in the Convent in Leribe; but 2 are in the branch house in Mohale’s Hoek, 140 miles south of Leribe. At Mohale’s Hoek, the Sisters continue to support the local church and its outreach.

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Sister Gertrude continues to live away from the Community in Namibia, continuing in her role as mentor to the Sisters of the newly formed Community of the Good Samaritan and engaged in pastoral work, including a great deal of involvement with the pre-school.

Another Sister works at the Craft Centre, which has been supported by CHN for many years. It helps those who are disabled by providing work for them. They have expanded the range of the crafts they produce to sell and beading has become very popular. (See report about this year’s donations below).

At the Convent in Leribe there is a small guest house.

The Sister, who ran the church sewing department with such ability and enthusiasm, sadly suffered a major stroke and has since died. There is also another sewing department which makes “uniforms” for various church organisations and schools.

The Wafer Department supplies local churches and there is a sale of bibles and other books.

The profit from these departments brings in an income. This together with the quarterly dividend from investments held in the UK constitutes the major part of their income. The diocese is very poor and has had to ask all organisations to help with funding.

Sister Lineo is responsible for St Mary’s Girls’ Hostel where school girls stay during term time if they are unable to go home each day.

Several of the older Sisters are battling with ill-health, but some Sisters are involved in pastoral and evangelistic work. They minister to families affected by HIV/AIDS, which is rife in Lesotho (30% of the population are HIV positive)

A project, known as Volunteers of Love is part of the local initiative to help victims of HIV/AIDS and the Sisters have a bank account to facilitate that work.

All Sisters are involved in care for the bereaved.

There is an Associates organisation.

Father Joseph Morenammele, a priest supported by the Durham / Lesotho Link has been appointed as Warden to the Sisters.

Zululand

There are 37 Sisters in Life Vows.

Some Sisters work professionally and earn good salaries or have now retired and receive pensions. All the Sisters do evangelistic work. There is a vibrant vestment making department and it is the main source of income. After further saving and fund raising they have continued to develop the extension of the vestmentmaking department. This continues to enable them to take on more commissions and to train and employ more staff. The Bishop of Zululand is a great friend of the Community and seeks opportunities to strengthen the strong bond the Sisters have as a resource for the Diocese.

In 2004 a project was begun to set up an orphanage for children whose parents had died from HIV/AIDS. It is known as Isisa House and now provides for the basic needs – food, clothing, schooling, health care and emotional needs of many children. There is also a support system for foster parents/ guardians. We have provided funding for this project during the last financial year. Many of the youngsters are now in or needing further education.

There is a large rondavel where guests can stay and join in the life and worship of the community. This involves considerable pastoral care.

The vegetable garden has had another good year and it has been possible to supply the local Spar and Boxer shops. Sister Patricia has continued to be a highly valued member of the Rotarians.

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The work of the Sisters in both provinces is much appreciated by bishops and their churches and they continue to be in much demand.

UK Province – Use of funds for carrying out the aim in 2020 – 2021

Sale of the Convent and Contents

Contracts on site 1 (the Convent, Cottage and surrounding gardens) were exchanged on 27[th] November 2020 with an extended completion date of 30[th] June 2021. The contract for Sites 2 (the field at the front of the Convent) and 3 (the field at the side of the Convent) are being prepared. Completion is set for the date when full planning permission has been granted.

As we were unable to hold the planned ‘downsizing sales’ throughout the year: instead a COVID-safe appointment system was set up to sell some of the library contents. Other items (eg. vestments and chapel furniture) were sold online and others (eg. furniture and chapel plate) will be sent to a local auction house.

- Property 217 Morley Road

The required safety checks: gas, PAT testing and water quality assessment have been carried out. The property and its grounds have been kept in a good state of repair.

As a result of the tenants’ income being vastly reduced due to COVID, we were able to help by cutting the rent by 50% from August 2020. The trustees received a card expressing how much our kindness and understanding has meant to them.

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Trustees’ report for the year ended 31 March 2021

A narrow strip of its garden has been transferred to the Convent in order for a wider driveway to be created, and the property and the rest of the grounds were put on the sales market in January 2021 for offers of £450,000. Due to the amount of modernisation required inside the property and the fact

that the size of the site was to be reduced, an offer of £425,000 was accepted. The tenants asked to extend their tenancy from 31 December 2020 until the property was sold, relieving us of having an empty house over the winter.

Sisters’ Care Needs

2 Sisters who need the level of care only provided by a Care Home, moved into Emmanuel House, a Care Home close to Quarry Bank during August. It was necessary to fund a hoist in the bedroom of one of the Sisters and to commit to paying for its maintenance and servicing.

Pensions

5 members of staff have been enrolled in the NEST pension scheme this year.

Risk Management.

Maintenance and Repairs

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THE COMMUNITY OF THE HOLY NAME

Trustees’ report for the year ended 31 March 2021

Utilities Review

Cars

The old convent car was sold for £700.

Major purchases (for the Convent in Derby)

Major purchases (for the building in Hessle)

Donations

Sisters were again invited to nominate charities to which we could send a grant and this was dealt with at a meeting of the Trustees in November. Each of these charitable donations reflects something of the prayer and mission of the Community of the Holy Name:

mission of the Community of the Holy Name:
CHN Lesotho (one-off donation to defray funeral costs) 500
DEC Coronovirus Fund 1,000
Isisa Project Zululand 1,000
Basotho Educational Trust 500
Leribe Craft Centre, Lesotho 500
Medecins Sans Frontieres 500
Shelter Box (emergency kit for refugees) 500
Barnardo’s Butterfly Project, Nottingham 500
Church Homeless Trust 500
Zane(Zimbabwe) 500
Prisoners of Conscience 500
Embrace the Middle East 500
Church Urban Fund 500
Derby City Mission 500
Dove House Hospice, Hull 500
All Saints Hessle Tower Appeal 200
TOTAL £8,700

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THE COMMUNITY OF THE HOLY NAME

Trustees’ report for the year ended 31 March 2021

Basotho Educational Trust (BET)

CHN has been involved with this charity since its inception. Our sisters both in England and in Lesotho are instrumental in the running of the charity. A sister in the UK is on the Trustees and Sisters in Lesotho are part of the committee there and visit the various schools.

Quote taken from this year’s Annual Report

‘Thanks to you, our supporters, we have now achieved our latest goal of supporting 70 students. Details of numbers per school for the current academic year are below: St Rose Computer College 15 new students, LOIC 14 new students, Makhaliso Dressmaking 15 existing students, Technical School of Leribe 13 existing students and St Mary’s Home Economics School 13 existing students’

Dove House Hospice, Hull

The newly formed Education and Training Department established itself within the hospice and increased its standing within the local community. During 2019-20, it has collaborated with partners in the community to take a lead role in the organisation and delivery of the local Annual End of Life Care Conference. In a coproductive relationship with Humber NHS FT, it has delivered Advance Care Planning Training to Community Mental Health Nurses who work with people with Dementia, while our own staff team have been able to access training in areas such as dementia care and personal safety. The hospice was able to access a grant from

Health Education England that enabled us to fund new educational facilities including the transformation of a fairly unused space in the hospice into a beautiful interactive hub/shared meeting space for staff and volunteers and meetings with visitors. In addition, funding was provided for a new 'Learning Zone' for our staff and volunteers. This facility includes a Project ECHO Room which incorporates the technology and equipment needed to hold interactive educational sessions with health and social care professionals including Care Homes.

Leribe Craft Centre

‘Response from Malisebo Majaje after receipt of our donation.

I wish to thank you for the gift you send to us on November I did not write at prompt because of this covid19 which is confusing us a lot. We have lost customers and therefore there is no business. In February after the lockdown in Lesotho I had to close down the workshop and tell all the disabled to go out every morning to sell a sewing thread which we were given by one of the firms in Maputsoe (it is the leftovers from the machines which they do not use any more). It is really helping a lot. I am Keeping an eye to see they really do the selling. Some of them are really doing well this time. I tell them that what they sell is theirs whereas before they were selling on behalf of the centre and it was not showing whether they are really doing well.

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THE COMMUNITY OF THE HOLY NAME

Trustees’ report for the year ended 31 March 2021

The money you sent came out to R9936.30. This will continue to help us with the ongoing costs of the Centre. It will help to pay for those who are not able to do a good selling and other things like water and electricity. On behalf of us all I am forwarding our sincere thanks and wish a good health at all times. Yours in the name of our Saviour Jesus Christ.’

Budget for Relocation Project

In consultation with the trustees, the Accountant has produced balance, forecast and cash flow sheets covering the renovation of the new Convent in Hessle and the sale of the Convent in Derby. His advice concluded that, ‘from a cash flow point of view the net sales from Tredegar Drive and Derby Site 1, totalling £1.3m, covers the net expenditure of £1.2m. The final net sales of Derby Sites 2 & 3, once they have obtained planning permission, of £2.03m will then provide most of the forecast £2.147m available for investment.’

Our Investment Manager has sold investments in the Expendable Endowment Fund pro-tem to provide us with sufficient cash funding. Cash will be re-invested as soon as possible (see accounts sheets below).

Investments

At the trustees’ meeting in September 2020, Mike Davies and Paul Langford of Canaccord Genuity Wealth Investments presented their report on our investments for the financial year 2019/20 and also up to 30[th] September of the current year. Paul spoke to the performance of the portfolio and Mike gave a breakdown of the markets in which they have invested money on our behalf.

This year has been different both because of COVID and Brexit negotiations, and also because we have asked them to sell enough investments to raise the capital to fund moving to our new convent in Hessle. Once the contracts for the sale of the Derby site have been signed and later completed, the deposit and later the remainder from that will be paid into the Permanent Endowment Fund, and thus available for re-investment.

Our advisors suggested that, given the market uncertainty, the best course of action would be to stay focused on investing for the long term, whilst taking advantage of opportunities as they arise and ensuring that the portfolio is well diversified both by asset class and by geographical location.

Legacies and gifts

We have received legacies from the estates of Gwen Lewis - £12,083, Martin Garvin - £9,658, Sylvia Wilgoss - £5,064 and Susan Smith - £1,000.

FUTURE PLANS

Human Resources - Staff for Quarry Bank

The Trustees have agreed to the following arrangements:

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THE COMMUNITY OF THE HOLY NAME

Trustees’ report for the year ended 31 March 2021

We will, after the Sisters have settled into the new building, sell our second car.

We will continue to complete the fixtures and fittings in the new building, and buy new smaller-sized equipment where necessary.

We will set a budget to do work on establishing the garden as a place of quiet and an area which encourages a diversity of wildlife.

We will settle into the house and establish routines which best enable us to maintain our life of individual and corporate prayer, study, fellowship and outreach in our new surroundings. We will make opportunities to get to know our neighbours and the wider local community and seek out opportunities for mission and outreach.

Statement of Trustees’ Responsibilities

The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the Trustees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Provincial Superior – CHN Sister Diana Morrison

Provincial Bursar – CHN Sister Julie Elizabeth

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THE COMMUNITY OF THE HOLY NAME

Auditors Report

Opinion

We have audited the financial statements of The Community of the Holy Name (the 'charity') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

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THE COMMUNITY OF THE HOLY NAME

Auditors Report

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

The primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

However, in identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

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THE COMMUNITY OF THE HOLY NAME

Auditors Report

These procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error.

We reviewed financial statement disclosures and performed testing to supporting documentation to assess compliance with applicable laws and regulations.

We also tested the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. There was a focus on manual journals and journals indicating large or unusual transactions; enquiries of charity management; and challenging the assumptions and judgements made by management by reviewing third party evidence wherever possible.

The results of our procedures did not identify any instances or irregularities, including fraud.

No inherent difficulties were found in the standard processes for detecting irregularities; the nature, timing and extent of the audit procedures performed were not significantly impacted by Covid-19.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Patrick Scargill Senior Statutory Auditor Chartered Accountants and Statutory Auditors Backsides Court Annie Reed Road Beverley East Yorkshire HU17 0LF

Date: 28 January 2022

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THE COMMUNITY OF THE HOLY NAME

Statement of Financial Activities for the Year Ended 31 March 2021

Note
Incoming Resourses:
Investment income received
Interest on deposit accounts
Rent
Sundry receipts
Sisters’ pensions and benefits
Guest donations
Donations including legacies
Branch House income
Hermits’ income
Total Incoming Resources
Resourses expended
Cost of generating funds
2
Charitable activities
3
Total Resourses Expended
Net outgoing resources before
transfers
Transfers between funds
19
Net outgoing resources for the
year before other recognised gains
or losses
Other recognised
(losses)/gains
Realised (losses)/gains
on investments
11
Unrealised (losses)/gains
on investments
11
Realised losses on property
Net movement in funds
Total funds brought forward
18
Total funds carried forward
18		 Unrestricted
funds
£
Designated
Funds
£
Endowment
funds
£
Total
2021
£
Total
2020
£
108,364
20,720
-
129,084
200,586
-
-
-
-
728
11,525
-
-
11,525
21,237
-
139,136
-
38,541
-
651
-
-
-
-
-
-
-
-
-
-
-
-
-
139,136
-
38,541
-
651
-
130,590
8,540
38,941
214
180
298,217
20,720
-
318,937
401,016
(1,596)
(4,800)
(11,067)
(17,463)
(25,526)
(428,182)
(32,000)
-
(460,182)
(470,487)
(429,778)
(36,800)
(11,067)
(477,645)
(496,013)
(131,561)
(16,080)
(11,067)
(158,708)
(94,997)
(280,066)
-
280,066
-
-
(411,627)
(16,080)
268,999
(158,708)
(94,997)
-
(9,561)
10,802
1,241
(7,681)
-
74,817
452,018
526,835
(471,796)
(34,827)
(411,627)
49,176
731,819
369,368
(609,301)
500,490
787,157
6,499,370
7,787,017
8,396,318
88,863
836,333
7,231,189
8,156,385
7,787,017

All activities relate to continuing operations.

The notes on pages 24 to 34 form part of these financial statements.

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THE COMMUNITY OF THE HOLY NAME

Balance Sheet as at 31 March 2021

Fixed assets
Note
Tangible assets
9
Investment properties
9
Listed investments
Current assets
Debtors
12
Cash at bank
Creditors: Amounts
falling due within one
year
14
Net current assets
Total assets less current
liabilities
Creditors: Amounts
falling due after more
than one year
Net assets
Funds of the charity:
Total funds
19		 Unrestricted
Designated
Endowment
Funds
Funds
Funds
£
£
£
2021
£
2020
£
5,100
-
3,040,011
3,045,111
2,575,049
-
-
425,000
425,000
425,000
-
797,051
3,670,146
4,467,197
3,685,262
5,100
797,051
7,135,157
7,937,308
6,685,311
125
-
-
125
2,775
94,638
39,282
96,032
229,952
1,116,458
94,763
39,282
96,032
230,077
1,119,233
(11,000)
-
-
(11,000)
(17,527)
83,763
39,282
96,032
219,077
1,101,706
88,863
836,333
7,231,189
8,156,385
7,787,017
-
-
88,863
836,333
7,231,189
8,156,385
7,787,017
88,863
836,333
7,231,189
8,156,385
7,787,017

The financial statements were approved by the Trustees, and authorised for issue on 28 January 2022 and signed on their behalf by:

Provincial Superior – CHN Sister Diana Morrison

Provincial Bursar – CHN Sister Julie Elizabeth

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THE COMMUNITY OF THE HOLY NAME

Notes to the Financial Statements for the Year ended 31 March 2021

1. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Charity Information

Community of the Mission Sisters of the Holy Name of Jesus (Community of the Holy Name) is a charity registered in England and Wales (charity registration number 250256). The correspondence address is The Convent of the Holy Name, Quarry Bank, Woodfield Lane, Hessle, HU13 0ES.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Charities SORP (FRS 102) rather than Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Basis of preparation

Community of the Mission Sisters of the Holy Name of Jesus (Community of the Holy Name) meets the definition of a public benefit entity under FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investments and certain fixed assets at fair value. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and not less than one year from the date of approval. The Trustees are constantly monitoring the financial position of the charity and the ongoing uncertain situation in respect of Covid-19. The charity has no borrowings however does rely on the general goodwill of the public for much of it’s income, as such the pandemic could give rise to a material fluctuation in results and some uncertainty in regard to going concern, however this is being constantly monitored.

Income and endowments

Voluntary income of legacies that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

24

THE COMMUNITY OF THE HOLY NAME

Notes to the Financial Statements for the Year ended 31 March 2021

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it has been received. Such income is only deferred when:

The donor specifies that the grant or donation must only be used in future accounting periods; or the donor has imposed conditions which must be met before the charity has unconditional entitlement.

Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings, they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Items of expenditure are charged to the Statement of Financial Activities on an accruals basis. The offer to the Diocese is charged as paid, usually monthly, although the commitment is for a full year.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and Trustees’ meetings and reimbursed expenses.

Taxation

The charity is a registered charity and therefore it’s income and gains are exempt from taxation to the extent that they are applied for charitable purpose.

Tangible fixed assets

Other freehold land and buildings

The convent and investment properties. The land and properties were revalued on the basis of open market value.

The Trustees do not consider that the value of freehold land and buildings is materially different to the professional valuation as at 31 March 2021

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THE COMMUNITY OF THE HOLY NAME

Notes to the Financial Statements for the Year ended 31 March 2021

Office and other equipment

Equipment used within the church premises is generally depreciated on a straight line basis over 4 or 5 years. Individual items with a purchase price of £1,000 or less are written off to the income statements when the asset is acquired.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life.

Fixed asset investments

Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12

‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Trade debtors

Trade and other debtors are recognised at the settlement amount after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities, if they do not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Fund structure

Unrestricted funds: represent the funds of the charity that are not subject to any restrictions regarding their use. Funds designed for a particular purpose by the charity are also considered to be unrestricted.

Designated funds: represent unrestricted funds set aside for specific purposes at the discretion of the Trustees. The designated funds provide grants to fund operations in Lesotho and Zululand.

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THE COMMUNITY OF THE HOLY NAME

Notes to the Financial Statements for the Year ended 31 March 2021

Restricted funds: are funds which can only be used as specified by a donor or when funds are raised for a particular purpose. The restricted funds compromise of the following: Clergy House of the Rest and Sy Edward’s Orphanage income funds. This fund is to be applied for general educational purposes or any charity connected with the Church of England.

Endowment funds : are a form of restricted fund where the donor has specified that only the income from the money or asset donated can be spent. The original asset (the ‘capital’) cannot normally be spent. The donor of the endowment fund specifies the use to which the income can be put, so it can be more restricted than for the general purposes of the charity.

Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for the period, the excess is recognised as a prepayment.

2. Cost of generating funds Investment management costs

For the year to 31 March 2021
Note
Stockbrokers charges
Morley Road expenses
Tredegar Drive expenses		 Unrestricted
funds
£
Designated
funds
£
Endowment
funds
£
Total
2021
£
Total
2020
-
4,800
11,067
15,867
18,325
1,275
-
-
1,275
2,578
321
-
-
321
4,623
1,596
4,800
11,067
17,463
25,526

In 2021, of the Costs of Generating Funds, £1,596 (2020 - £7,201) was in relation to unrestricted funds, £4,800 (2020 - £2,945) was in relation to designated funds and £11,067 (2020 - £15,380) was in relation to Endowment funds.

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THE COMMUNITY OF THE HOLY NAME

Notes to the Financial Statements for the Year ended 31 March 2021

3. Charitable activities

Convent expenses
Note
Rates, water & insurance
Heat and light
Housekeeping
Medical and care home
Clothing
Chapel & funeral expense
Upkeep of gardens
Salaries & wages
Staff pension contributions
Newspapers and books
Computers expenses
Photocopier
Telephone and internet
Postage
Property
Household expenses
Cottage expense
Travelling and motor
Clergy
Pocket money
Depreciation
Other expenses
Grants to Lesotho and Zululand
Conferences and training
Branch house expenses
Hermit expenses
Charitable gift & donation
Reorganisation costs
Accountancy costs
Audit costs
Bank charges
Sundries		 Unrestricted
funds
£
Designated
funds
£
Endowment
funds
£
Total
2021
£
Total
2020
£
24,389
-
-
24,389
29,921
28,499
-
-
28,499
25,272
31,747
-
-
31,747
32,756
28,538
-
-
28,538
6,849
637
-
-
637
1,184
602
-
-
602
7,159
6,215
-
-
6,215
4,639
178,858
-
-
178,858
182,111
8,106
-
-
8,106
5,847
1,739
-
-
1,739
2,337
3,499
-
-
3,499
3,841
583
-
-
583
2,145
2,698
-
-
2,698
3,035
1,749
-
-
1,749
1,349
17,802
-
-
17,802
16,786
10,945
-
-
10,945
24,795
3,824
-
-
3,824
7,084
4,671
-
-
4,671
8,410
885
-
-
885
3,075
935
-
-
935
2,218
3,453
-
-
3,453
2,711
-
-
32,000
-
32,000
32,000
145
-
-
145
1,135
20,299
-
-
20,299
16,013
18,546
-
18,546
18,063
9,200
-
9,200
9,000
5,010
-
-
5,010
3,335
3,560
-
-
3,560
7,267
8,000
-
-
8,000
8,050
2,110
-
-
2,110
1,740
938
-
-
938
360
428,182
32,000
-
460,182
470,487

In 2021, of the Charitable activity costs, £428,182 (2020 - £438,487) was in relation to unrestricted funds, £32,000 (2020 - £32,000) was in relation to designated funds and £nil (2020 – nil ) was in relation to Endowment funds.

28

THE COMMUNITY OF THE HOLY NAME

Notes to the Financial Statements for the Year ended 31 March 2021

4.
Grants summary
Zululand Isaia Project
Christian Aid
Medecins San Frontiers
Church Urban Fund
Sight Support Derby
Aquabox
Medaille Trust
Alzheimer’s Society
Christion Aid
Basotho Educational Trust
Embrace The Middle Eats
Mozambique Cyclone Appeal
Church Homeless Trust
World Food Programme Zimbabwe
Derby and Burton Hospitals Trust
Air Ambulance
Various emergency appeals
Leribecraft
Lesotho
Zululand Gift
Barnabas
Derby City Mission
Dove House
Shelter
Zane
All Saints Tower Appeal
Prisoners of Conscience
Embrace Middle East		 Unrestricted
funds
£
Total
2021
£
Total
2020
£
1,000
1,000
1,000
-
-
1,000
500
500
500
1,000
1,000
500
-
-
500
-
-
500
-
-
300
-
-
300
-
-
500
500
500
500
-
-
500
-
-
500
-
-
500
-
-
500
-
-
300
-
-
200
1,000
1,000
900
500
500
-
500
500
-
500
500
-
500
500
-
500
500
-
500
500
-
500
500
-
500
500
-
200
200
-
500
500
-
500
500
-
9,200
9,200
9,000

In 2021, of the Grants paid, £9,200 (2020 - £9000) was in relation to unrestricted funds, £nil was in relation to designated funds and £nil was in relation to Endowment funds.

5. Net income/(expenditure)

Total Total
This is stated after charging/(crediting) 2021 2020
£ £
Auditors renumeration 8,000 8,000
Operating lease payments 583 799
Pension costs 8,106 5,847
Depreciation of fixed assets 3,453 2,711

T

29

THE COMMUNITY OF THE HOLY NAME

Notes to the Financial Statements for the Year ended 31 March 2021

6. Trustees remuneration and expenses

No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No Trustees have received any reimbursed expenses or any other benefits from the charity during the year.

The Trustees are considered to be the key management of the charity.

7. Staff costs

The aggregate payroll costs were as follows

Staff costs during the year were
Wages and salaries
Social security costs
Pension costs		 Total
2021
£
Total
2020
£
165,163
175,856
22,592
18,244
8,106
5,847
195,861
199,947

The average number of persons (including senior management team) employed by the charity during the year were as follows:

Total staff 2020
No.
2021
No.
12
10

No employee received emoluments of more than £60,000 (2020 – no employee) during the year.

8. Taxation

The Community of the Holy Name is a registered charity and as such is a charity within the meaning of Schedule 6 of the Finance Act 2010. Accordingly, the Charity is potentially entitled to tax exemption under part 11 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 in respect of income and gains arising.

9. Tangible fixed assets

Cost
At 1 April 2020
Additions
Revaluation
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020		 Freehold
property
£
Furniture and
equipment
£
Motor
vehicles
£
Total
£
2,566,682
30,229
17,595
2,614,506
463,657
9,858
-
473,515
-
-
-
3,030,339
40,087
17,595
3,088,021
-
28,662
10,795
39,457
-
1,753
1,700
3,453
-
30,415
12,495
42,910
3,030,339
9,672
5,100
3,045,111
2,566,682
1,567
6,800
2,575,049

30

THE COMMUNITY OF THE HOLY NAME

Notes to the Financial Statements for the Year ended 31 March 2021

On transition to accounting standard FRS102 the charity chose to measure its freehold property at their previous valuations. Reliable historical cost information it not readily available and significant revaluation costs could be involved which may be onerous compared with he additional benefit derived by users of the accounts in assessing the trustees’ stewardship of the property. It is considered that the freehold property is worth at least its net book value as the assets is being sold for in excess of the net book value. It is therefore considered appropriate not to depreciate the freehold property.

10. Investment properties

Cost or valuation
At 1 April 2020
Revaluation
Disposals
Additions
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020		 Investment
property
£
Total
£
425,000
425,000
-
-
-
-
-
-
425,000
425,000
425,000
425,000
425,000
425,000

The investment property 217 Morley Road, Derby was valued at open market by agents Frank Innes, as at 31 March 2020.

11. Investments Endowment funds

For the year to
31 March 2021
Balance at 1 April 2020
Additions
Disposals
(Loss)/gain
Revaluation losses
Balance at 31 March 2021
Listed Investments
Cost on investments		 Total
£
Expendable
Fund
General
£
Expendable
Fund Care &
Restructuring
Fund £
The Trust
Property
Permanent
Endowment
Fund £
St Edwards’s
Orphanage &
Clergy House of
Rest
£
3,063,269
2,366,566
118,904
79,553
498,246
1,235,987
916,843
102,323
72,992
143,829
(1,091,930)
(837,892)
(82,325)
(35,752)
(136,962)
452,018
342,886
15,948
9,007
84,177
10,802
8,996
500
406
1,901
3,670,146
2,797,399
155,350
126,206
591,191
3,670,146
2,797,399
155,350
126,206
591,191
3,328,147
2,529,918
142,297
122,934
532,998

31

THE COMMUNITY OF THE HOLY NAME

Notes to the Financial Statements for the Year ended 31 March 2021

Unrestricted Designated Funds
Balance at 1 April 2020
Additions
Disposals
(loss)/gain
Revaluation losses
Balance at 31 March 2021
Listed Investments
Cost on investments		 South Africa £
621,993
260,430
(149,468)
74,817
(9,561)
798,211
797,051
700,584

Portfolio value as at 31 March 2021 - £4,467,197 (2020: £3,685,262)

12. Debtors

For the year to 31 March 2021
Sundry Income
Prepayments
Tax repayable		 Unrestricted
funds
£
Designated
funds
£
Endowment
funds
£
Total
2021
£
Total
2020
125
-
-
125
39
-
-
-
-
1,167
-
-
-
-
1,569
125
-
-
125
2,775

13. Cash at bank and hand

For the year to 31 March 2021
Main accounts
Branch houses
Hermits
Stockbrokers		 Unrestricted
funds
£
Designated
funds
£
Endowment
funds
£
Total
2021
£
Total
2020
88,103
-
-
88,103
499,815
1,501
-
-
1,501
977
5,034
-
-
5,034
6,051
-
39,282
96,032
135,314
609,515
94,638
39,282
96,032
229,952
1,116,358

14. Creditors

For the year to 31 March 2021
Accruals
Taxes
Due to South Africa		 Unrestricted
funds
£
Designated
funds
£
Endowment
funds
£
Total
2021
£
Total
2020
11,000
-
-
11,000
15,237
-
-
-
-
2,124
-
-
-
-
166
11,000
-
-
11,000
17,527

32

THE COMMUNITY OF THE HOLY NAME

Notes to the Financial Statements for the Year ended 31 March 2021

15. Financial instruments

2021 2020
£ £
Financial assets measured at fair value through income and expenditure 229,952 1,116,358
Financial assets measured at fair value through income and expenditure comprise
cash at bank and hand.

16. Transactions with trustees

As members of the charity the Trustees’ living expenses during the year were borne by the Trust but the Trustees received no remuneration or other benefits and expenses in connection with their duties as Trustees during the year.

17. Operating lease commitments

At 31 March 2021 the total of the charity’s future minimum lease payments under non cancellable operating leases was:

With in 1 year
Between 2 and 5 years		 2021
£
2020
£
-
266
-
-
-
266

18. Analysis of funds

Unrestricted funds
Designated funds
Endowments
Prior year
Unrestricted funds
Designated funds
Endowments		 Balance at
1 April 2020
£
Movement
in funds
£
Out
£
Balance at 31
March 2021
£
500,490
298,217
(709,844)
88,863
787,157
85,976
(36,800)
836,333
6,499,370
742,886
(11,067)
7,231,189
7,787,017
1,127,079
(757,711)
8,156,385
Balance at
1 April 2019
£
Movement
in funds
£
Out
£
Balance at 31
March 2020
£
256,530
689,648
(445,688)
500,490
858,936
30,561
(102,340)
787,157
7,280,852
-
(781,482)
6,499,370
8,396,318
720,209
(1,329,510)
7,787,017

33

THE COMMUNITY OF THE HOLY NAME

Notes to the Financial Statements for the Year ended 31 March 2021

19. Analysis of Net Assets Between Funds

Unrestricted funds
Designated funds
Endowments
Prior year
Unrestricted funds
Designated funds
Endowments		 Tangible
Fixed Assets
£
Invesetments
£
Net Current
Assets
£
Total
£
5,100
-
83,763
88,863
-
797,051
39,282
836,333
3,465,011
3,670,146
96,032
7,231,189
3,470,111
4,467,197
219,077
8,156,385
Tangible
Fixed Assets
£
Invesetments
£
Net Current
Assets
£
Total
£
8,367
-
492,123
500,490
-
621,993
165,164
787,157
2,991,682
3,063,269
444,419
6,499,370
3,000,049
3,685,262
1,101,706
7,787,017

20. Pension commitments

The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Charity in an independent administrated fund. The pension post charge represents contributions paid by the charity to the fund and amounted to £8,106 (2020: £5,847).

21. Post balance sheet events

Post year end the charity has been impacted by Covid 19, as all entities have. This has been documented in the financial statements.

In April 2021 the Charity completed its move to Hessle near Hull. The Charity is now concentrating of exchanging contracts on the property at Oakwood.

34