REpoiYf OF THE TRUSTEFS AND FINANCIAL STATEMENPS FOR THE YEAR EI¥DED31 DECEMBER 1011 FOR SISTERS OF cHARy OF OiIR LADY OFEVRON DJH Autht Limited ActnIan Stswtory Audit(xs Th¢ Exchange 5 Bank Stre BL9 ODN
sisrERS OF CllARrrY OF OUR IADY OF EVRON CONfENfs OF THE FINANCIAL sfATEMEr FOR THE YEAR ENDED 31 DECEMBER 2023 P•ge Rryort of the Trustees to 11 Reyort of the Indq)tthlelli Avditor5 12 to 14 Statemtnt of FinneI Aeknitits 15 Statement of FiJMncial Position 16 Ststenwnt of Casb Flo 17 Iyotu to th¢ Ststem¢nt of Csh Flows 18 Notes to tht FinaDti&l StateMets 19 10 31
SISTERS OF CHARrfY OF OUR LADY OF EVRON REPORT OF TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2023 The Tnjstees present their retth with th¢ financial of the awity for the year ended 31 Decemlxr 2023. The TtuMees have adooed the provisions of Ac£wnting and Repmirtg by Charities." sement of Recommended Ptactice applicable to charities preparing their &cth]nts in aCC(Kd with the Ftnancial Rtp)rting Stondard appli¢able in the UK and Republic of Ireland (FRS 102). strond edition- (kt(A>er 2019 (effe£tive l January 2019). INTRODUCTIOIY The full name of the Charity is the cgregOtiOn of the Si5ttrs of Charity of Our Lady of Evron, commonly known a5 the Si#ers of Evron. The cOngregl0 of the Sisters of Evron is an internation8] Roman Catholi¢ R¢ligious Congregation supporting 120 Sistm worldwide of whom 16 live in the UL It was founded in Frdtlce in 1682. where its Generdlate is still located. The Congregation is divided INO Ihree Reg"Lons consistin8 of the Rw"on of Afrio ihe Reglon of Franc< and the Trinit15 R¢gioD, whi¢h mpriSeS the UK P¢nJ and Canad& For xcounting purpose5. exh nIry wiihin the Trinits5 Regjon is autonornws. The accounts accompanying this report are the xeounts of the eharitable tru# on which the &ssers of the Congregation in Ihe UK known as Trinitas UK art held. Misslon Trinitas UK of the Si5ter5 of EviDn aims to support the relib0Us and othcr chaEitable works carried on by th¢ members of the Congregation. to care for those memtTS throughout Iheir lives within th¢ CoThgr¢galion, ¥ well cnsuring compliance with the Chariiies Ad 2011. These mitkistries of the Si5tU5 of Evron, all of which benefii numerous m¢mb¢rs of thc public, fail into thc following main aTtas: 181 and astordl Work Many Members of the Congregation are involvd in vaTiOUS form5 of social or pastornl work thr(MJghout England and Wales includkng cart of ihe elderly and dcaf pcopl4 family 5uprrf and Parish Ministy. mi work Thc Charity also helps support Siers working in healtlKaTe and s(Kiat and ptsordl fiel in PeN and Afri¢&
SISTERS OF CHARrfY OFOUR IADY OF EVRON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 O&VECTIVES AND AcnviTIES Obj¢ctiv¢5 and •im$ for the Public Bemfit As stated abov¢ unthr'Mis$ion". th¢ xtiviiies of ihe Charity can te divided into three prirtipal are4S: In tOTnmon with many Teligiou5 ¢ongTegations in the UK Ihe age profile of the membus of the Congregation is increasing as existtng members grow older and the number of new Von$ beLomes minirnal. The a8e profile of the Congregation in England and w¢5 is shown below: 20-29 339 4(k49 5¢>59 6M9 70-79 8fv89 999 16 Trini11S UK ¥n obligion. both mml I. to Provth care for lis members. rK>ne of whom have T¢SOUT¢¢$ of thcir own and all of whorn have devoted a significant part of iheir live5 10 gJu¢ion. nuT5ing and the Care of the elderly, df, poor rnarginalised in CIety. A5 Ihe age profil¢ ineTta%es so ttr) does ihe need to provide incre45ing and increasingly expensive care ¢0 th¢ Si51¢rs. At present two munbers of Triniths UK are living in ¢xt¢rnal nursirtg homes n by organisation$ with a Catholic dhos. A community house, EvrDn-Brinnington, h&$ been designed and buili io a0mm0dle wr more senior Sisters in iheir retirement. Over the next dttade, the TN*ees expea ihe number of members rquirin8 care io increase. Con5equenily. the Trustees are 8iwng carefvl wnsideration to ¢h¢ impact of this on the work of indhvidual rnembers of the Congregation, Ihe prwrry requirem¢nts of the congre8alic and the financia] implications. In this re8atd. the aims of ihe Twue¢5 over th¢ forthcoming years include.. ensuring all member5 of Trini UK rtceive the hi8h le of care IIKY requir¢ to provide them with the quality of life th¢y Should rightly expect: reVIen% the Charity's P1rtic$ which are usd as community h{Se9 and assessing their suitability; Ablirtg all members of Triniias UK to Mnlinu¢ wilh their irtdivldual ministries for ¥ lon8 a5 W55ible. The followin8 are example5 of the atld paaorat WO uTrMlenaken by individual Sis¢ers'. worknng in parishes. including visiting wishiontss and assIlA8 in pro8rnrnmes. to help parishioners develop their spirial Iivc5; involvement in uinen1tsI and h¢r faiih a(4ivitie5' working in pastoral care wilh df peIe,. administrative and Srarial 5UPPOrt to Church 0[glsati1S. pastoral care in nursing and rcsidential h juslice and peacc initiativcs. pporting children and familits.
SISTERS OF CHARITY OF OUR LADY OF KVRON REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2023 The aims of theTnJAees in ihis arta intlud¢'. promoting the human rights of the individua] for th¢ gLxd of all humanity: enabling all m¢mb¢T$ of Trinira5 UK to cany crtil mt4ningful socÈal and pastOTal work within the community after assessing their sk]"Ils and the needs of the l(tal encour4iTrg and motivating members wc¥k wth and a4si# th¢ potsr. CIdlY and matginalis¢d: wherever possible, ensuring Si¢[s are remunerated for such work by wty of salary or stipend. Such in is ¢ovenanied to the Charity and thertby en5¥T thm the Work of the Si5ta5 and Chlty may continue and develop into the futyr¢. The Charity providcs financial 5UPPOrt for the Congregion's missions in ihe Ivory Ccol Burknna Faso and Penj. The missions are undtt ihe control of Iht Con8r¢gation and Ihe finla1 51EPPOrt is used to the personal and living expenses of the Sisrs. Funds are transfened arhfbually as awttd by the members of the CongrEgation Ltad¢rship T¢am. Ap05toli¢ work ThrOught the year, and in acc(th with trir &poAolie wo. Si#ers 8ive Iheir lime to assist ihe poor and marginaliscd and th05¢ in D¢¢d. Sist¢rs le1ve no finan¢ial reward for this Work. which contribut¢5 10 th¢ overnll 4¢hitvemtnl of the ChariWs obicctives. In addition, rn¢mb¢r5 aT¢ involvcd in MiniStering the work of th¢ Con8re8ation And Charity., withtyji Ihis contribution. the Charity would nfA be able io function as efftIVelY or fully as it During th¢ year, th¢ arus irt whi¢h members of ihe Congr¢wion yve theirtime finellI reward included.. woth, includin8 takin8 Communion to the hSeftd and io those in sidential home5: general pan5h work: Trinitas UK minIStA110n.' voluniary work for many er CffsaniIoTrS and chltieS ts d&ail¢d fvrther M wthin this report. li is ¢#1Med time spent on lhese9pollc aaivities was more Ihan 10.IJ)) hou Proteetlon of Adults At Rhk Along with all other orB¥ni$4tions who serve in ihe eommunity. the TrUceS Tecognise the Jbsolule neeessity of en5urin th¢ prot#tion artd safety of all those the Charity seThes. This Means lha¢ a]1 Sistets who are in any kind of ministry in England artd Wales obthin cleardnce from ihe Disclosu Barring SeTviec. The TNstees are committed to implemeniing all lIcI¢S and pr(Yxdur¢s of the Religi(9 Life Safe8uarding Service and Catholic Saf¢gyardin8 Standards Authoriry and hav¢ a named cLH)rdinator to cnsure th this hapws, The Trne¢& th¢ CTrQTdinator and st&ff und¢rtake Ifdining and are kept ttpdaied regarding any legislation. Dooatlons support of w15$1onary rk ttd mintstry Donations ond other payments in Syp1 of mis51(m ar ministy are decisw on by the Tntstees in consultation with oiher members of th¢ Con8rcgation as appropwiaie. Whi15t th¢ TnLSt¢C$ 8ive ctcasionai 5UWOrt to unl¢ Kingdom or8ani5ations Wh wcrfk is wihin ihe object5 of the Charity, the Charity doe5 not regard itsclf a5 a m•king eniity and applici¢Mts for grattts and donations are noi invited.
SISTERS OF CHARrrY OF OiJR LADY OF EVRON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Investment poli¢y The Charity's investments ar¢ rnanaged by Rathbone5, Cazenove Capithl Mana8ement and by Wavuton Investment Management Limited. There aTe no restrictions ffi thc ChJrity5 tM)wer to inv¢#. The investment p)licy is set by the TnJ#ee5 and ¢(SiderS the liquidity which enable the Charity's (A)jectives, the Trus1e¢s' attittLd¢ to risk. and ahic41 and sociaily re5w1nbI¢ invesling crit¢Ti4 th¢ Invts1mcnt Mana8¢T5' ewson ihe investments, market. Investment Managers are appointoj to manage on a diserth'onsry b&%1$. The mandates Tequire a balartc and diversified approach combining income reNrns with real capital Erow¢h ovtr Ihe medium io long-temi whils¢ following the Charity'5 ethical policy. However. the Truste¢s recwise ihat Ihe diversified naTe of many companieg xtivitie5 mw5 Ih#i within th¢ir 10t op¢r41ions th¢re may Sm1 areas io which ihe Trumees might obj¢¢t. For praetieal reasort4 the TNMees wcwld not object if not more than 5/• of a group's profji is d¢riv¢d from prohibited actLVities. Purpost of IVestment% The funds possessed by ih¢ Charity enabl¢ it to out it5 Apo*olic Mission. The principal purpose of having investments is provide ihe income requir&J to cUi8&ions . brAh cuThi and fvtyr¢. Tht$e obli8ati(s include.. the"So]id8rity Fund" for the third world rni55i(#)sof the Conrnion. the welfare of the older Si5t¢r5 of the CongT¢wion who liv¢ in Fr¢,. the ¢are of th¢ sick aThd older Sistry50f Trinit&s UL. the forrnalion of Siaers. prov15ion of 5Uitablc property and i¢S onBoin8 mainienance. hcr ¢xpendiiure nttessary for fiJlfillin8 the Charity's chan'lablc obje¢tiv¢s.
SISTERS OF CHARITY OF OiIR IADY OF EVRON REPORT OFTHE TRusfEES FOR THE YTr AR ENDED 31 DECEMBER 2023 Socially Responsible lttyuilng The Trnstees seek io in eompAits tb%t are sotifilty dhi¢ally respotisible Thl wbicb llke * positive tontribution to society. thl wbielb ettg4e in •tlivittu such pr(Killrt5 and services th are of long-terni benefit toth¢¢ommuDIty" conservation of energy and natyral re50uTces" enviromnental improvements and polluti control: high ernploy¢¢ w¢lfare 5widards.' Tespe¢i forthe sancitty of human lif trwaT¢n¢y regarth'ng xtiviiie The Trustees setk to r¢fr•iD from d¢•ling ¢(JmpieS that Ire eLga8ed in: trJing with cwressive regimes and countries with p(whuman rights rOrd4' unne¢essary exploiiaiion of anim5,. cnvironmentally damaging practi pr)rnography and the exploitation of worn human traffickn"n& genetic enneerIn% abortion aThJ embryonic reseaT¢h. ii)bacco prrylu¢t1(. gambling. Given the global nur¢ of E4L5in¢55 and the fingn¢iat m¥kds in the world it is ditTJ¢ult Iways to match these aim5 with the procedures of each company. However. regular meetings are held wsth the investment Managers to rewew the Charitys investments aKainst the Charity's 11¢Y of involvonetlt in the WdTityJS companies. The Tntse$ e(jrage the investm1 manager5 foster T¢¥5]ble cort*)N¢ Ixhaviour. by consulung with ihe (harity prior to involvem¢nt in 155u¢s which may b¢of &hical cotLcenL
SISTERS OF CHARrfY OF OUR LADY OF EVRON REPORT OF TUE TRusfEES FOR THE AR ENDED 31 DECEMBER 2023 ACH1EvEhNT AND PERFORMANCE Re¥ of adiiitles The following paragraphs outlin¢ th¢ main xhievemerKs dwing the year in each ofthe Charitys prin¢ipal ¥tiviti¢s. mem Throughout the y¢ar ih¢ Charity continud to assi# members 0fTrini UK in their eharitable and religiws work. One member of the Congregation wa5 cared for in a nursing home run by an organisation with a Christian dho& whilst the Chariry enabled oiher members to work and volunteer in thcir choscn rninistry. As prtviously ststed, it ts a great joy to have a puoose-buili commuthity hojse where five of our o]der Sisters live oui their TetlTernent in eomkn, th¢y have a¢tt$5 to all they Tojuire and #aff to assisi ihem. Trinitas UK has a M( obliwion to suppM our dderly Sisi¢n Ltt th¢ Mdhe¥ H¢rtts¢ th¢ G¢n¢rnl Administr¥tion in France and has pledged up 10 £IO.(KKI annually to their ned. Throughout the yeAr. Siaers continued to etrry various foms of 7&[ and ptstoral WOTk in order to fulfil their individual ministries. This work enables the Charity to rexh out 10 those in need within $Iety generally and benefit 8 very significant number of pecple. Case Studej from lome oltbe Relh)¥s Slsttrs tsote tbt knve betn ebath8ed) Case Strjdy I.. Sorne aspects of my work as a Parish Sister in a rerncle part of North Wai¢s whue there is no Catholie 5ehLX)l and the Prie51 hts two Parishes 10 Iwk after eoverinB a arca from thc end of thc Llyn Peninsula 10 the bottom of Snowdonl My work consi$ mairtly in catechising the C8ihdic Children. This irKludes pr¢pariThg ihe paT¢n15 for their chi1ChIldren'S Baplism., Sacramenial preparation (Baptism, FI Conf¢55ion, FIT Communion through Conftnnaiion; Marria8¢ preparation and Fonn, Filling Prq)arin8 the Service dc: on80in8 Chrilan Forn)ation whi¢h takes place sometimes irt the children's homes, (which tailS quiie a lot of rr•v¢lling) or in A small room in the Church. Becaus¢ I lake ihe Ln5mKlion in ihe ¢hildT¢n's hom¢ tk ptr¢nts alg) bmefii from'a refreshef rSe. Case sdY 2.. My othu work cOnSts in being available lo the Pari$hicmers in this F4rt of t PariL &4 the regdent priest lives thirteen miles away. Hence. I pm ¢he fir port of ull for someix>Jy th i prc•lem: for a sick Parishlorr home or in H05Pital (whi¢h is thiTty milt$ away in Bangor) or Wh somebcdy dies in this area of the PSh. Then I ¢ry to help the family with their bereavement and the pfq)a1C for the Funerai Servi¢¢. Reetntly an eld¢y]y lady lo her husband and h¥0 son$ and h&8 no relative in Wales. She is now in a NuT5ing Horn¢ I visil htt i)n a r4ular basis. l am oflen called upon to lake ihe SeNce at the Crematwiym for Caiholics and non Cholics (which is thirry Mil away). In th¢ absence of the Parish Priest I lake the Morning Service here. I wsii and tsk¢ Holy Communion to the siek in iheir homes in this pjrt of the Parish as ihe Parish Priesi wot phy$icaJly visil them on any regularbasis. There are al(X of elikrly pcople in the area who have no religjous 8ffiliation but often requem that I visit aThl chat with.
SISTERS OF CHARITY OF OUR LADY OF EVRON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 IDvestment perfornfttttt The OnanCe of the tnve5rmeni Portfolio and the ChoTitYs Inv¢5tmcn¢ Strtw monitOT¢d by the Independent Strategic and Financi Advi5¢r, who repC¥ regulaTiy io ihe Tnjstees. The TNMees dso mttt wth the investmerht managers on a regular b&%is to ensure that they are following the C1wi¢Ys invesTh)eni sNegy and review their ptrfornancc, with the a55i5tance of ihe Indede1)I Stratw'e and Financial Adviser. Investrntnt valu¢s rose in 2023 with 8ains of around £105k. Investm at the year-end are at a lower value than they were ai the end of 2022 duc to di5P)5als rIng the year. The Tne£S are conimt that their invesunents conlinue satisf¥rorily 10 5uppon the Charity's objeciive Covid-l9 Noiwith51anding the serious ¢hallen8es presented by Covid-19, the Trustees considtt, 8iven the stre8ies that ihey have irnpl¢m¢nt¢d ro deal wilh The siwaiion, that ihe ChIly'S wabiliry has ncrf been threatened. Fin#thtil review During 2023 total incoming resouttts amounied ro £356261 (2022: £352,552). Of the incoming Te50UTC¢4 a total of £3,640 {2022.. £2,319) w&s rt¢eived by way of d(yWioThs #nd Iyies. In¥ethl income interest receivable totalled £158.948 (2022.. £162.065). ResOUe$ expend1 to genu¢ inwme and to enabl¢ objectives of the Charity to be me£ totalled £628.931 compared to £569,793 in 2022. Of this total. expendiDJre on strategy and governan¢¢, including the fe¢5 paid to the Charity's investsneni mana8ers and audiwrs, gmountrd to£lOI241 (222. £93.69)). Net yin$on investrnents the yetr to £106.on (2022 hss: £5.9141 Net re50urtt5 expentsj th¢ year were £166,598 (2022.. £718,155). The Tru5t¢¢5 are l$fIed th all of the Charitls are sthte41 irt ihe swement of financial position in accordan¢¢ with tht Charivs Accountin8 p)liaes as swed on pages 19 to 21. The retr will disrern from ihe foregoing th Charity c1¢5 Out ¥ divtTse of TLiivities gnd is responb[c foT care and support of Sisters whos¢ av¢rag¢ age 15 increasing and whosc are changing. A¢coTdingly, th¢ Tru51 have designaled r¢s¢rve5 for.. retirement,. and, the carc #nd SUPPDrt of SislUS Iti their mis5i¢ffi &tivities. In a88reye at the statement of financial Jy)silion date. these designaled reserves arnolmted £4.140.020. In wJditLon, £2201.351 of ihe iotd reserves is fryTesl by prrycrti¢s and fiXre$ which are essentid for the wpport and work of the Siius. FTe¢ res¢rv¢s at 31 Decembff 2023 are thu5 £98,501. Th¢ Tru*eeg 8re l$fIed thaL &Yven the n#ur¢ of the Charity's work its commitment% this r¢pr¢5¢nts an adquate level of free re5eTve
SISTERS OF cHARy OF OUR LADY OF EVRON REPORT OF TItE TRUSTELS FOR THE YEAR ENDED 31 DECEMBER 2023 Futhr¢ pl The Tnjsttts are torttinuing to work with PTof¢55ionai in order 10 maximise the PTc¢e•Js of the disposal of the rixed assas in orderthat gjch lISl0n$ c4n be used forthe gwai obje¢tiV¢s of th¢ Charity. It is the TTUSte¢¢ IrtientiC io C(YLtinue to mttt the following rknit£tive5.' tocart forthe Sistcrs and cnablc them to cany t their pstual and ministry. will continu¢ to given to assiming and caring for ihe elderfy. deaf peLyl< those in spiritual nee4J. the and the marginaliscd and Te4chin8 Out to many peryle as FQ55ible. to support ihe elderly Sisters in the Mother House and the Gtnernl Adrninisirnlion itt Frnnce. to 5UPPOrt th¢ Congr¢gwion'$ work in Peru and Afiica. 10 rnoniiorthe needs of the Sisi¢rs grow oldcT and. if T¢s5ry, 1 ¢he Charity's plans in resptcl of property needs and the prnvision of eare to oidtt memb Employeu and members of ihe CoDgregitlo Th¢ TnJste¢s wish to recorf Iheir rwnilim of the prof¢4ionalisYn and commitment of all their s¢aff and the individual members of the Congr¢Balion. Their dedicion and posiiive apprh are very mh.4)pr1Led. We invite staff 10 trainin8 days io update tkn (ffi issues relevant to iheir area of work and also i5su¢$ r¢lAt¢d to safeguarding and corr¢¢t prr•JuT¢s in lin¢ wilh 4YLr poli¢i¢s. STRUCTURE, GOVERNANCE A]¥D MANAGEME Governance In tem15 of Canon Law. the Cryewion is governed * an Int¢mwi(xwl l¢v¢l by the s1cr electeAI Con8re8alional Lead¢r along with a team of thTte others who are dso elttted the Genernl Chawer every fJv¢ years. This General Chapter or m1Th8 has, as its Presenlives, members fmm ] r4rions of th¢ Congregation. The last Genernl Chapter took place in Augu 2022. The Trini UK area 15 Koverrj by a Team of five SiA¢rs (the cord]r1nI Team) alon8 with Regional Lder. The Regional Leader 1$ 8]$0 an Assistant on the Congrt8ational Lekrship Team. Fwr speeiali# areas have been id¢ntified &% vita] for the wellbein8, mission and of TriThilas UL. Holisii¢ Core. Mi55ion and Spirituality Fornwion Financial St¢waTd$hip Th¢ Congrtsational Ler makes an official viyt to Trinits5 UK 3t leaa every five years. In trns of Civil Law the Charity is governed by a Tn Deed dated 30 Deeember 1966 (as amendd in 2¢X18) and is a Rtgisiered Charity - Charity Rw51Tation Number 251267. The TTu#ee tKdy w35 ineoTwrated ut)der Part VU of The Charities Act 1993 and the CeTtifi¢ate of InrNIon was issued a50f ihat da. The TnCeS of Ihe Charity w¢.. l. the Regional Leader lin8 in Ui. 2. Trinitas UK BursaT,' 3. two members of the CothordinatingTearn' 4. and a member of the finJnrx grryip. All Trustees are members of the Congregation. have a dctwl•J kTh)wl&lge of the work of thc CongTegaiion and of its structure. On bein8 aPinted. nrw Trustees are TtyUiTed to speThd Or fvll day With those Tryst$ leaving offic< and the Trustce5 a150 avail of irnining days. Thcy a150 mcct with the Trinitas UK legal. )UntIn investment and propery VISers. toobtw'n a full briefing of their andth¢ cIl$ pwtion. Thc narnes of the T¢¢$ who suv¢d during the year are as &rt of th¢ relerettt and thinistr*iv¢ details on page 15 of ihis a[Ul1 Tep(xt
stsrERS OF CHARrrY OF OUR iADY OF EVRON REPOttr OF THE TRuEEs FOR THE IEAR ENDED 31 DECEMBER 2023 STRUCTURE. GOVERf4ANCE AND14fANAGEME Strncture and Minagemertt rtporting The Tru5tccs are uliimaiely respcffisible for the policie4 Xtivities and a5sds of the Charity. They meet quarterly io Teview developments re8arding iht CTharity artd ils adimtics and make any Irnrtant decision5. When necessary, the Tru5 seek lvice and yjpport frorn the Charity5 professional &lvisus including propw ¢onsultant& inyesttnent rrtanager5, solicitOTS and ¢ants. The day-ttsday rnanagcmcnt of the Charity'5 Xtivitie5. atld the implementation of policies, is delegated to th¢ appropriate memkn of the Congregation or sthior ttff. Trinitss UK comprise5 16 Si5LU5 who live in six diffutht h5¢& Five of the cornmunity houses are situated in the North we of England and one is situated in North Wale5. Th¢ comrnunity houses we in ihose areas of towns and citie5 where it is believed that the Sisters can pwvide the most help to the prK>r and rnargina]i5ed. Often the5¢ arAs 4T¢ Socially deprived area5 d¢sperat¢ly in nthlof the ¢ar¢ and pra] w(¥k IriA ojt by the Sistei Working witb other org#nation3 The Sistets pcrfonll IhcLT ap05tolic dulles for uternal chaTitics and wblic IlieS which provide care to the vulnernble. the elderly, children, the deaf and all those in any ¢ir¢umsuntt of dwrivation. whil tsvo Sisters wrrc cmployed dursng 2023, most Sisters had an infornal relatjon5hip with charirable organiwions. In ail ca%% working tog£iher with oth charities and public bodies enhances Communication and unde[lIn& enablin8 Strviccs to k provided rnOTe efficiently and avoiding duplication of effort. Examples of th¢ org•)isations for whi¢h memb¢rs hav¢ work¢d and with which the Charity h&s cooperated during the year are as follows: CaTita5. Di(ese of Salf(xd Roman Catholic th"(tests of Saifort Shrewsbury. WreAham Saint Joseph's Missi¢x¢ io Deaf People Charity Catholic Dgf Asswialion of Great Britsin and Irelaryl Risk m8n8gement In line wilh the wuilement for Tne$ to undertak¢ a risk as5essm¢rt 15¢ and rcrA)rt on thc 5amc in their annual rq)ort, the Ttustees have miewed the current and futu risks the Cwion. The Truslees have identificd five main areas where risks may ¢Kcur. Governance and rnana looks at the risk of ihe Congfega¢iThL and hence Charity, suff¢Ting from a lack of directioo ai the Skill s and trnining of it5 members and #aff, ar the 8(xyJ use of tts Tes(yJrces. QOLL1 looks at the ri5k5 inherent in the Charitys aCtiwtie& yJ¢h as members engaging in iD8ppropriate activities, the unsuitability of buildings FOY Mainlan¢¢, shortcomings in th¢ 5ervice5 provid& ditriculties wilh statT. p)or healih and saf¢ry, lack of a disasier r0Very tKTrlity, ei¢. Financial risks includ¢ those arising as a resuk of w I1&Cry contyc4, inappropriate ytxling, 1xr accounting, inappropriate inve#ment wlicie& d¢. looks at tM)ssible damage w the Congreglon.$ an(Vor Charitys ryiation. aw lations ental l(M)ks at the eff of governert policies, the wnsqLtence5 of non-¢omplianc¢ with laws 8t regulations and poor risk assessment. Having assessed the major risk5 to which the Chan"ty is uposal. the Tnw¢es thelieve that by mtsnitcing reseNe level5, cnsuring controls exist over key finartciai systems and examining thc orthtional and Imsiness risk5 by the Charity, effective Sy$S have t¢n emblishcd to rnit1c the risks ideniifirjl. REFERENCE AND ADIVNISTRATlv DETAIIS R¢gister¢d Ch8rity #umber 251267 Prlncip*l #ddress 36 Pfield C¢)urt Kensiwon Stte WhTtcfield ManclKrtcr M45 6FH
sisrEILS OF CHARITY OFOUR LADY OF EVRON REPORT OF ThE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2(123 Trnstees M A Considine M A Mccrcady C Kelly L Gilbcy P M Hu8hc3 Audito DJH Audit Limttrjj Accounianis Stoiutory Audiio Th¢ Exch8ng¢ 5 Bank Street Bury BL9 ODN B4nk¢rs National westmlrtCr Bartk PIC 10 Great UndeTbank Stockport Cheshire SKI ILL Other Bnktrs Scottish Widows Bank plc PB Box 12757 67 Morrison Stre¢¢ EdinbuT8h EH3 8YJ HSBC Bank plc 23 Allerton Road Mosslry Hill Liverp)ol L182DA Epworth Inv¢5tment Management Ltd 9 Bonhill Street London EC2A 4PE Solicitort Wornble Bond tAckingon One Trinity Broad Chare Newca1¢ upon Trne NEI 2HF IVtment MD•8ers thbones BrhS PIC 8 Finsbury Cirvjs London EC2M 7AZ CCLA Fund Managers LiMid PO Box 12892 Dunmow, Ess¢X CM6 9DL Waverton Investm¢nt M¥nag¢ment I 16 Babm¥s Street London SWIY6AH IndependeDt StrtQ8le tsd FIDill¢lal Advlxr Tim OBrien B Com FCA Omimum Support 60 Si Martin's Lane London WC2N 4JS io
sIsrERS OF cHARy OF OUR LADYOF EVRON BIPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2011 STATEMENf OF TRUSTEES. RESPONSIBItJTIES Th¢ Ttvc¢S are rwonsible for prcparing the Report of th¢ Trust¢¢5 and the fJnan¢iai 51ataD¢nts in accordance with applicable law and United Kingd A¢c(rtJniing Standards(Uniicd "ngdoM GentlY Accepted Acc(yJntin8 PTacticc}. The law applicable to chariti.es in EnElaTKI and Wale4 the (ritieS Aet 2011. Tharity {AcuM]nts and Report5) Regulation$ 2(X18 and th¢ provision5 of the Trua Dee41 Ul¢e5 ihe Ttustees to Prepare financial statements for each fLnancia] year which give a true and fair vi¢w of the Swe of affair5 of the Chariry and of th¢ incoming r¢sottr and applicaiion of resource& including the inu)me and expenditure. of th Chartty for perityj. In prwaring those financial Strate[neT4 the Truslee5 ar¢ required to - selt 5Uitabl¢ accounting policies and then apply them con5$4enily: - observe the meihryts and principle5 in the Chariry SORP,. - make judgeThcnts and estimates that arr rca50nablc and pnLdenL - state whaher appIlble acC01iThg #andards have follow¢4 subject to any matcrial (kparture5 disc105ed and explained in the fjnancial 5talements,' - Prepare the firwicial statements on the going concern basis unless it is inappropriaie lo presum¢ that th¢ Charity will Continue in business. The Tnjstees are responsible for keeping proper accounting rttords which dis¢lose with reasonable accuracy #t any time the financial position of the Charity and to enable them to ensure that the financial sratements comply wilh the CbaTities Act 2011, the Charity {Accounts and Rewts) Regul*ions 2¢xI8 and the PTOWS1¢)ns of the trua deed. They are also rwonsible for safeguarding tlK assds of th¢ Chwity kn¢¢ for taking re[babIe sws for the prevention and ddection of fraud and oth¢r iTrw]arities. Approved by order of the boafd of tNste¢s OD .. and signtsl on its behalf by: M A Considine- TNste¢
REpoirr OF THE INDEPENDENT AiJDTTORS TO THE TRiFSfEES OF SISTE1 OF CHARfTY OF OUR LADY OF EVRON oTrI04 We have auditul th¢ finala1 statements of Sisters of Ch&ity of Lr L•ty of Evn)n 'charity) for the year endoj 31 Deccmbcr 2023 which comprise the Statement of Financial Activiti4 the Statement of Fina18[ Position, th¢ Sratement of Cash Flows and TWtes to the financi statement5, including a summary of significant accounting poIicLes. The financial rq)orting framework ihat has tten appliuj in their prwation is applicable law and United K]"ngdom ACCnting Standards (United Kingdom Genually Acce Acc{xnt)g P1). tn ouropinion the financial ststemenis.. give a true and fair vi¢w of the State of th¢ charity5 affair5 a5 * 31 D¢¢unbu 2023 and of its incomirtg resources and application of rexIrce$. for the year thtn ended; have been properly prepar&1 in xcordance wilh Uniioj Kingdom Generally Acc(XLThtin& Practice,. and have been prcpared in accordance with the rtqUiTcments of the Charities Act 2011. Bssis for opinio We conducted our audit in TdaT¢ with Internatic S¢aThlths ¢xt Auditing IUK) (ISA8 (UK)) and applicable law. Our r¢sponsibilitkes under those 5tandard5 arc furthcr described kn the Audi Tesponsibiliti¢5 for the audit of the financial Statements section of our rep. We are indewhleni of the chatity in a¢crydaThce with the ethical rcquirements that are relevant to our audit of the financial sty¢ment5 in the UK including the FRCS Ethical Standarf and we hav¢ fulfilled our other dhical respon5ibiliti¢5 in xcordanct with these requiremcnts. We believe ihai the audii eviden¢¢ we have OaIned i5 sufficient and appropriate to provide a ba"$ fortyjr opinion. Conclusions relating to going ¢o¢ern In auditing the finarttial nt¢ment5, we have concludrd that the tru#ee¢ use of the going concern bsis of accounting in the preparion of the financial st&emts is approprie. Basod on rh¢ work we have perfoTtned. we have identifid amy material uDc¢rtainties telating to evenis or Conditions that. individually or colleciively. may ¢& Silfit dwbt on the chan.$ abilKty ¢0 continu¢ as a goin8 concern for a period of ai least twelve monihs from when th¢ fi]]antiai statemenL% are authorisfAI for issu¢. Our re5ponsibilt¢i¢5 and the reWlbilitLes of the with re5TKL# to going cortcern dc5cribed in the relevant Secti¢$ of this rew. Other informAtIoD The tnisiees are responsible for the c4her infomation. The other infornjation comprises th¢ inforniation iTKludoJ in the Annual Repor4 othcT than the financial ststements and our Rep of the tndepend¢nt AudItS ihemn. Our opinion on the financial statements does n¢X cover the other inf0m170t) and, ¢xW to the extent ¢xhen¥i5¢ explicitly slated in ¢JJr rep)rL we do noi ¢xpress any form of atyJrnnce conclu&on thereon. In connection wth tyjr audit of the financial ststemeTtt% re4Kmsibility 15 lo r¢ad the other information and, in doing so, consider whdher the other infortnation i% [naterilY inconsi#ent with the financial #at¢ments or our knowledge obtsined in the audit or otherwig appears to be materially miswted. If wc idtIfy wch material in¢onsistet)Ci¢5 or apparenl material mis#ement4 we are rffjuired io deternjine whdhcr this gives rise to a material mis5taiement in the rinancial 5ts1¢m¢nts themselves. If. b&s¢d on the work we have perforrned. we cclude that there is a matetial mi5Statement of this txher infonnalion, wc aTt tequired to re[ fact. We have nthing tts Fep(brt in ihis regard. M8rters ort whi¢h we re required io report by exteptioD We hav¢ nothin8 to Tepm in respxt of thc following matter5 whff¢ thc Charities {Acrywnts RepMs) Rwlions 2(M)8 requircs us to report io Y if, in tyjr wnion: the infomiatj(ffl giveti irt the Rwt of the Trustees is inconsis1ent in any matuial respect with the financial smements. or sufficient a¢¢ounting recrd5 have not been k. or the financi8] statements are not in agleemeni with ihe XCOWLting re¢cds atbj rcbjrns; or we have not received all ihe infornjation and explan*ions we rqUi for tyjr audit. 12
REPORT OF THE INDEPENDEKT AUDrroRS TO THE TRusfEES OF SISTERS OF CHARITY OF OUR LADY OF EVRON ReSpOltsI11t1el of tnuteej As explained morc fully ITh the Statement of TNslc¢< Rewybiliti¢5. thc truts Jr¢ r¢stK)nsibl¢ for th¢ preparation of the financial statemenis whith wve a aThJ fair view, and for ch inttmal tontrol as the trustees detemiine is neSsary io enable Ihe preparation of financial stsiements that are free from material mieMent. whdher due io fraud or error. tn preparing the financial ateMen the trustee5 aye wible for asseffjng the Charitys ability to ¢ontinu¢ &$ 8 going con¢¢rn, dis¢losiDg, as applicable, mattcr5 related to going ¢crn and using the going concern basis of accounting unless the trustees eittler intend to liquidate the charity or ¢0 ce&Y OFration% or ha no TlstiC girnative but to do Our respon3ibililiu for th¢ udlt of ¢ht %tteIiiety We have been appointed as auditors under Se¢iion 144 of Chariti¢5 A¢t 2011 and rcwrt in &cordance with the Ad And relevant regullOns having effxt thereuDd¢r. T objKtiv¢s are to olxain reasonable assurnnce alh)Ji whdher ihe fina1[ 5taierncThts a whole are free from material MI1cmeni. whaher due io fraud or error. and to issue a Rcport of thc IndqMthni Audiiors that include5 our opinion. Reasonable IssuTrn is a high levcl of asgjrance. but ts a guaraniee ihai an audii ¢onducted in accordance with ISAS IUKI will oiways d¢tect a matcfial missiaiemeni Wh it exis. Misgat¢m¢nt5 arist from fraud or error and are considered mateTi•I if. individually or in the a8gr¢8at¢. they could reasonably be expxied ¢0 influenet the economic decisionsof user5 tsken on th¢ bxsi$ of ihese flnanuai swemen The extenl lo whi¢h r pr(t¢du5 are capableof d¢t¢tin8 trregularitie4 including fraud is d¢t•iled below.. As part of Jr planning p¢5.. W¢ ¢wuired of management the systems and ntrOl$ thc charity has in plac4 the area5 of the financial statements thai are MlY sus¢¢ptibl¢ to Ihc risk of irre8ularilies and fraud, and wh#hcr there w&$ any known, specled or alleg¢d fraud. The charity did n¢X inform us of any knowm, su$pecied or alleged fraud. We obtwned an under5tandin8 of ihe legai and regulaw frnme 4pplie&ble to ihecharity. We deternined that the Charitics SORP (FRS 102) mom r¢l¢vant. We cortsidered the in¢enliv¢s and opportunities that in the tharity, ineluding the exieni of m8nag¢m¢nt bi4 which PTes¢nt a pot¢ntiil for irre8ularilies fr•Ld to be wpetuad, and thilored our risk assessm1 Qrdingly. Using our knowled8e of ihe charity, togdhttwiih the di5510n5 held with the charity ai ihe plning stAge. we fomied a Conclusion on Iht risk of misswemeni du¢ to irr¢gulzritLes Ln¢ludin8 frwd Ind tailored our Ptedur¢S xcording to ihis risk assessment. The k¢y procedures we undeJ¢kxik to defe irre8ularitie5 iluding flaud rin¥ ihe cr$¢ of the audit Includ.. Identifying and testingjoumal entrie& in p3rti¢ular those that were significani and unusual. Reviewing Ihe financial sthiement di%losures and ddem)ining whether a¢MIE wslicies ve b appropriatcly applied. Reviewing and ¢hall¢nging the assump¢ions and judgemettts used by manageAnenl in their significant accounting estimate5, in particular in relation to estimatin8 the useful economic lift of an asset and its residu value. A55es5ing the extent of compliance. or lack of, wilh ih¢ r¢levant laws and regulions in parti¢ularthox that are entral to the eniiiies ability to continue in (gerdtion. Testing key income lines for evidence of management bi. Ob¢wning third-parry confirmation of m&uial bank and Invema)i balanc rkjcumenting and verifyin8 all significant rclattsj party balance5 and tranwtion Rewewing third party dc¢umen¢ation and correspondence for dIu5510ns of iTregul8riti¢s including fraud. Owing to ihe inherent limitati$ of an audii. thcrr 15 an unavoidable risk that we may not hav¢ ded some material missiatemen15 in the fiD#n¢ial statements cvcn th(gh we have PTcpcrly and rfOled our audit in ¥¢(danCe with auditing standard5. The primary rcsponsibility frx the prevention and d¢te¢tii)n of irrc8iilaritie5 and fraud rests with the INst¢e5 of the charity. A further d¢ScriF0 of our Te5Fwsibilities for th¢ #udit of ihe fimncial Aatunttlts is Ic¢*ed rn the Financial Rtpjrting Council's websiie at www.frc.oYg.ukJ?udittirmwbilitie5. Thi$ degcn.ioTr forns w of wr Rwrt of th¢ Indeptl AuditOTS. 13
REPORT OFTHE INDEPENDENT AUDrroiLS TO THE TRusfEES OF sisrERS OF CHARITY OF OUR LADY OF EVRON Uv of our r¢port This report is tn*k 501¢ly to the charity's tDJsie4 &8 a body, in rdant¥ With Part 4 of th¢ ThaTiti¢s {Ac¢ount$ 4nd Reports) Regulations 2Q)8. Our audit work ha5 undertaken so ih& we might state io the chaTity'S trustees those matiers we are required to state to them in an auditorg rwn and for no L%h¢r purpose. To ihe fiJl]e exteni pemiiued by law, we do noi accept or assume responsibility to anyon¢ other th t tharity Jnd th¢ thatity'5 tTUSt¢e5 a5 a bJy, for our audit wrrt forihi5 rem w for ihe opinions we have formtst DJH Audit Limited Accounianis Statutory Audit(xs The Exchan8e 5 Bank Str Bury BL9 ODN 24 October 2024 14
SISTEILS OF CHARtrY OF OUR LADY OF EVROIY STATEMENf OF FINANCIAL AcrivrriES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Tot41 2022 Totsl funds Unrestriciol ReAft"C fijnds fimds INCOME AND ENDOWMENTS FROM )nations and legacies 2J19 Other income Lnvestmeni income 193,673 158948 193,673 158948 188,168 162.065 Total 356361 356361 352.552 ExPENDURE ON CharitRble ctiTAtleJ Rar¢ais and forn)4ions Mission5 Office expenditure Motor and travel expendiluTe Donations and gifts Cart and supwrt of the Sistus ISJ93 IOJ59 73,020 42,041 15,733 339h54 IV93 IOJ59 73,020 42,041 15.733 339,654 3.570 16,800 53,730 41,589 24,081 304,093 SupFth ¢05ts 132WI 132531 125,930 ToiHI 62&9Jl 628,931 569,793 Net gain{1$$t$I on investments IfjA072 106,072 (500.914) NET INCOMEIIF.XPENDfTiJRE) Trnsferi between fundi 1166J98) {166,598) (718,155) 19 ($66,960) Iytt movement th fuDdi (5966 {166J98) (718.155) RECONCILIATION OF FUNDS Totsl funds broyght foTWdrd 1)39JO4 475 7J24,630 TOTAL FUNDS CARRIED FORWARD 43972 439077 6,606,475 Thc nrtes f(nn of thcge fina111 5t*m 15
SISTERS OF CHAR OF OiJR IADY OF EVRON STATEME OF Th ANCIAL POSITION 31 DECEMBER 2023 2023 Total funds 2022 Total nds VnrestriLxe4 fuT Restricted funds FIXED ASSETS Tangibl¢ ass¢ts tThve5tm¢nts 12 ij 2332h79 4,IM4J05 2332h79 4,(M4JOS 2,241,478 4.130.936 637 6376,984 6,372,414 CURRENT ASSETS Debtors Cash bank aThd in hand 14 52,069 147I#NI 51069 154381 41,301 282.254 7381 199 7381 2W50 323,555 CREDITORS Amwnts failing due within one year 134535} (7J76) {41011) (85,147) 164534 104539 238,408 TOTAL ASSETS LESS CURRENT LIABILITIES WI18 fi441S23 6,610,822 CREDITORS Amounts falling du¢ •fttr MO than (the year 16 (1,6M) {1,646) (4,347) NET ASSETS 6,439,8n 6,439077 6.606,475 FUNDS Unrestricted ndS.. General fijnd Retiremeni Reserv¢ Fund {desigfiated fund) Care and D¢v¢lopm¢nt Fund (designed fund) 19 2399052 3J85,925 754,095 1,869,514 3,301,234 868,756 6,439072 6,039,504 Re51ricled fvnd$ 566.971 TOTAL FUNDS 439,877 6,606,475 The financial swements were 4)proved by ihe of Tw&¢¢s authori5ed for issue 1.4....Oe&kn.'2&•nd were sigKd on its b¢halfby.' M A Consi ine- Trwee The ¢$ frn ofthtte finartci ¢tI 16
SISTERS OFCHARrrY OF OUR IADY OF EVROIY STATSME1 OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2022 Notes Ca$h IIow5 from operating a¢¢1 Cash generated from op¢Nic$ Intere paid Ji) (325 (120,934) (477) Nd cash used in operating tivitLes (98.126> (12l.411) Cgsb fiows from thvutlog a¢tl Purchase of tangible fixed &sse15 Purcha5c of fixcd ¥sel investments Sale tsf tangiblc fixcd a55Ct5 Sale of fixcd as5Ct investm¢nts Int¢r¢5t rx¢iv¢d (79.421) (591011 (262,221) (826,632) 8,724 792,641 2,453 783,912 lJ87 N¢t ¢ash provid¢d byllysrd in) inv¢#ing aCtities 114367 (285.0351 CA8h t70 from fln•ttdn8 1¢dtI¢l Capiial repayments in year Received froml{advan¢al lo) Wld18ry (2J49) (96,(th) (2,396) 7,430 N¢t cash (used inyprovided by fLnknein8 aetivities {989) 5,034 Ch#ll8e lrt taih ind tb eqlv*lents ID the reportin% perlod Cash ind equiVtts •t the bt8innin¥ of ihe reportin8 perlod 182,408) (401,412) 638.101 Cash and c eql¥ents •¢ the eDd of the reportiog perlod 236,689 The note5 fonn part of tlw financial Stsents 17
SISTERS OF CHARtrY OF OUR IADY OF EVRON NOTES TO THE STATEME[ OF CASH FLOWS FOR THE &TAR ENDED JI DECEMBER 2023 RECONCILIATION OF Nrf EXPENDrrU1 TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net expendItie for th¢ r¢portiiig p¢iiod (w per th¢ s1*teme of FiDADci81 Activities) Adjustments for: Depreciation charges {Gainllosses on invesimc4JlS lrtteresi received Intuest paid (Gain0$$ on disFThI of investments Decrcas&lincrea5e) in dcbtors Irease in ueditors (166598) (718,155) 88220 (104,756) (1587) 325 (714) 85232 67.066 s,914 (2.453) 477 24,464 (1.042) 7,795 Nrt ¢h ed oper8tiwLS (97JOI) (120,934) ANALYSIS OF CASH AI¥D CASH EQiJIVAIrnS 2023 2022 Cash in hand NNi¢e deposits (le5$ than 3 montlts) Overdrafts included in bank loans and overdralts falling du¢ within year 135 154,146 235 282,019 (43,565) TO e&sh and clth equivalents 154381 236,689 ANALYSIS OF CHANGES FUNDS At 1.1.23 Cash flow At31.12.23 P4¢t ¢a$h Cash at bank and in hand Bank overdrdft {127973) 45¥5 154281 {4556S) (SI4) 154381 Debt Finance leases (696) 2J49 {4J47) (A896) 249 14J47) Tot81 229,793 (79059) 149,934 The noies forni wt ofthEse financial #atcmcnts IB
sisrERS OFCHARrrY OF OUR IADY OF EVRON NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 LEGAL STATUS Sistcts of Charity of Our Iady of Ern {lS1¢T$ of EvTDn-) a the UK ann of the Trinitys Region ¢stablish¢d by The Congregation of the Sisters of Charity of Our W of Evn)n in 1682. The Charity is rc8ulated by the Charity Commission 5jnct rwstraiion on 16 February 1967. ACCOUNTING POLICIES Basis of preplg the ststemeDts The financia] stateents of ihe Ch&ity. which is a public bertfit a)lity under FRS 102. have been prwed in accordance with lh¢ Chariries SORP (Fks 1021 'AccwntiThg and Rwrting by Charities.. Statemeni of Re¢(ended Pr&tice applicable to ¢han"ties preparing their accLwnis in a¢cordanc¢ with th¢ Finan¢ial Reporting Standard applItle in ihe UK and Republic of Iland (FRS 102) (effective l January 2019),. Financial Reporting Standard 102 The Financia] Rwrting StarKEard ¥pli¢able in the UK and Republic of Ir¢land' and the Charities Act 2011. The financia] statemcnrs have been Prepared uTrder the historical c05t convention with thc exccpli(ffi of investhients which are inclutsl at market valu4 mLKlified by the revaILtIon of certain assets. Sisters of Evron meets ihe defirtilion of a Publi¢ Brnefit Eniity fPBEJ as sd J1 in FRS ILKI, and therefore apply the PBE Prefixed paTagraph5 in FRS 102. The financial #at¢m¢nts contain iThfornJation alxyjr Si#ets of Charity of (kn Lady of Evron &8 an individuat Charity and do not contain consolidatoj finan¢iaJ inforniatioD &$ the parent of a gmup. The company has taken the olOn under section 139(2) of th¢ Charities Act 2011 to prepare consoiidat¢d finaneial ststemcnts. Th¢ Iinancial semellts eombine the xcwnts of Sis1u5 of EvrDn and asscciated cornmuni1iC5 to 31 Dernber each year. After ¢onsidering the rolc of Sisters of Evron within the widcr community (desaibed on page5 1-1 l tsf the annuoi report), invc5tmcnt Ftrfomance & rdurn and risk managemeni the tN#ees have reas0Tle expeaation that Sisters of Evron has adequate re[¢¢$ and cash flows to meet their 4)ending commimlents for the foreseeable futurc. Accordin8ly. they continue to adw the going o)TKun tsis of ¥wunting in pr4)aring the financial statements. IDcoint All income is r¢wi5ed in th¢ Statemtht of Finan¢ial Activities oNe the charity h&5 cntitlcrnent to the fund& it is PTobabl¢that the income will t¢ [e1Ved and the amLNmt can be rneasurcd rdiably. ExpeDditur¢ Liabilities are reCognid &s expenditure as scon as there is a legal w constrnctive obligation committing the Ch1ty io that ¢XnditurC. il ig probable that a trartsfer of eLonomic bcnefits wll be r<y4UiTed in settlement and th¢ amount of thc obligation be rne45UToJ re]iably. Expcnditurr is accwnieAI for on an ¢ruals basis and has been classifled under haings that aggre¢ all c05t related to the tegOry. WhEre costs cannot b¢ dirtttly attributed to particular headings they have been allo io aaivities on a basis wnsistent Wlth ihe us¢ of resour¢e Tangible red *ssds DepTtt5ation is provided at the following annyal Trtes in order io write off each assa over its eslimattyj usefvl life. Fr¢¢hold pr(yw (excluding lan&J and Le&sehold Prwty FixwTes and fittings Motor vehicles Computer quiprnent - 50 yt8T5 Straight line - 15•/0 on rujucing batanct - 25% on redu¢ing balaTKe -33%onco 19 continU..-
SISTERS OF CHARITY OF OiJR L4DY OF EVRON NOTES TO THE FINANCIAL STATEMEFrtS. coDtinu¢d FOR THE YEAR ENDED 31 DECEMBER 2023 AccouNfiNG POLICIES- tontinutd TAngible fu¢d •ssets Land is not deprc£14t. Expenditure on minor iiems of fixtttres and fittiThy which a IndividulY immttial, are tharged to th¢ stai¢m¢Dt of financial xriviiie5 when iTKUTrol. Propu¢i¢5 aTe 0ed by the Orderand are usa4 fordirert thYble PU$¢5. The redu valuffj estimad usefitl lives and dq)reciation mahod of PT(yerty, plant and equipmeni are revicwed, and jed a5 appropriat< * each swemeffjt of fjrwicial position date. The effects Of any revision e recognised in the incomc statcmcnl wh¢n th¢ chang¢ aris¢ Taxadon Th¢ charity is ¢x¢mpi from thx on its chilable Xtsviiies. Llsted InvtttmeDts Listed investmenls are slated at m¥ket va]ue. The movement in the market value Is intludtd ¥ an unrcalised gain OT10ss on Ihe &atemenl of financial activities. Inveskneni income plus assc¢iated tax Tecoverable is credited ¢0 in¢om¢ on an awrua15 bag14 d¥ of pjymeni f(Y divid¢rKl$ and on ? rx¢ipts basis for intere$1. INvestments kn $ubsld51rles Investrnenis in subsidiary undeJtskings we 51aied unless in the r•inion of the trusttts there has been a pemiartent diminution in va]ue. in which cw art appropriate &ljusthieni be¢n made. UnrnCl¢d funds be ud in ac£rKthrK¢ with the ¢hitsble obffliv¢s * ihe discraion of the trustee5. Unrestricted desi8naied funds relate to xliviiie5 and income and ¢xpendityrt of the Chariws eommunities which ar¢ operated with a view to rtalisin8 a surplus I1 which are also operaia in 5UPPOrt of ihc charity's main obje¢tiv¢s. The design funds are to be used InitilY for the further3nc¢ of thos¢ aciivities however the tNsttts have the power to reallc¢ale ihese fvnds. Re51ricted furtds can only be used fw particular rethicted prSe1 within the objects of the charity. Rth¢lions arise when specifigj by ihe donw or whcn funds art rniseAI for pTrcul8r resrri¢t¢d purw¢$. Furth¢r¢xplanation of the nale and puryrf>se of each fvnd is indudtsl in I Twxes to financial statements. Forel8n currencltj Monetary a55ets and liabililies in for¢1 ¢urrencies ve translawl into sterfing #t th¢ rs of dxchan8e ruling ai th¢ slat¢menl of finarteial posilion d&e. Transxiions ID fI)rel curreftcie5 are translated inio sterling at th¢ rntt of exchan8e Nling a( the dat¢ of transtion. Exchan8e differenc¢s ar¢ th into a¢crn1 in arriving at th¢ OFwating result. Hlre purchase l¢•sth8 commltments Assets obtained under hire PUTchas¢ coniracts OT financt Ic&se5 aTr owta]1sd in thc Stalcmcnt of Financia] Positlon. Th¢)se held under hir¢ Purch contraL15 arc dq>recied over their C5timated use1 live5. Thos¢ h¢ld nder finan¢¢ lea are dcpreciatcd overiheir esiimated urUI lives orthe leasetemi, whichev¢r is shtsrter. The irtterest dement of thcse obligations is Cha to the of Financial Actiwties over the rdevant peJiod. The capital ClellI of the fvnjre payments 15 fre &% a liability. Cash ttd e$b eqlllv•leTrts Cash and c&5h equivaIeTts include cash in hand detX>sits hdd at call with bank5 and (rther short tem) liquid investments with original maturitie5 of three motth or les& eontinutsl...
SISTERS OF CllARtrY OF OUR LADY OF EVRON NOTES TO ThE FtNANCIAL sfATEMENfs. CODtinued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOiJNTING POLICIES. eoDtiDu¢d Cash and c¥h ¢quivai¢nts Financi instruments The charity only entCTS into basic fitwicial in#ryrnents transaaions lh resuli in the retogniiion of financial &sset5 and liabilities like trade and (thr accnts receiable and paydble, l¢)3n5 from batjks and other third partics and loans to related partics. F]rwKi &%sets that are mca5urtd at tost and amoTtised cost e assessul at the eThJ of each rqKsMng period for objeciive emdence of imFMimitht. If objetlive cvidcTKC of impairncnt is fnd, an impairmcTht Ios5 Es rccwhsed in the IrM¢ stalement. Section PBE34.90 to PBE34.97 of FRS 102 allows a PBE io Tecognise c(m¢¢ssion3ry loans at the arnount paidlreceived with subsqlltnt measurcmcnts beirg the c4nyin8 am(Mint justed for any accrued intertst rtteivable orpayable. Basic financiai liabilities are initially rnea5 * tr•k5a¢tion prtc¢ aryl Subsequently measurtsl at arnortised cost. b¢ing th¢ transacti price less any aMnIS sdtlbj. Crili¢41 aeeouotlllg estim4tes judgem¢Trts In th¢ application of the charity's accountin8 policie5, the ttustee5 arc rc4uiruJ 10 make es¢imat¢s and judgement5. The e51irnatcs arr based c historical exput¢nces artd her relevant fxtOT5. Actual rcsults may differ fiom these estimates. The estimates are ¢ontinually evu&le1. ReVisIL tttr atecnting estimates are in th¢ puiod in which th¢ ¢sIimat¢ ts revistAI. The estimates and assumptions which have a Silficant risk of causing a material adjustm¢nt to the carrying amouni of a55ets and liabilities aTeiyJÈlined below'.- Estimahn8 the usefiLI economic life of an &sset and the anticipated Tesidual value in calculating an appropriate depreciation eharg& Dthrmine whdhu there are any indi015 olimpairnent of the Compan$ taThgible &8sets. DONATIONS AM) LEGACIFS 2023 2022 DonatiODS 2J19 OTHER INCOME 2023 2022 Covenanted itK(xne 193,673 188,168 21 c¢)ntirtu...
SISTERS OF CHARrrY OF OUR LADY OF EVRON N(yfES TO TUE FINANCIAL STATEME1rS. ¢olltlnued FOR THE YEAR ENDED 31 DECEMBER 2023 VESTMENT ThCOME 2022 Dividends and inter¢st Bank inieTe5t 157J61 159.612 2.453 158948 I62,(5 Dirtct Retreais and fonnations Missions OtTi¢e ¢xpuHlitur¢ Motor and travel expcmiliture Donation5 and gifts Cgre a[ support of the Sisters 15A93 IOJ59 73.020 42,041 15.733 339,654 496,400 SUPPORT COSTS Governance Finance Totsis Other resources exwdal 29h97 1111341 132531 Support CO$ induded in the at*)vA are &q ftsllows: 2023 Other 2022 Toiai activities expended Bank ¢hargès Int¢rest payable and similarcharges Investment managers fe¢$ Auditors, remuneNioD Lega] f¢¢$ Sirategic and financial advice 1268 325 29,697 16,8 5,661 78,780 1,632 477 30.131 low) 13378 69,612 132WI 125930 22 tontinued...
SISTERS OF CHARITY OF OUR LADY OF EVRON NOTLS TO ThE FINANCIAL STATEMEprtS. continued FOR THE ENDED 31 DECEMBER 2023 TRUSTEES, REhlUNERATION AND BENETrTrs Thcrc wer¢ no tTUStt¢s' remunerntion or other benefits for the year endcd 31 Deccrnbcr 2023 for thc year ended 31 DeLembts 2022. Trujtoes, expemeg The Six tm#ees are s1Cr$ of the congregation. As Si1 thty rtreive Care and support from the charity in their Tetirernent. in line with th¢ Charity5 mi55ioTr. This C4T¢ support is a ben¢fit lh 15 rwxived for their rol¢ as a irustee and is equ io the care and support rece4v•J by si¢ AFF COSTS 2023 2022 Wa8e5 and Salaries 56,131 45,088 56,131 45,088 The averd8e monthly number of employees during the y1 ¥$ ftsllt)WS". 2023 2022 Adminisiration and support No employees reexived emoluments in ¢¢5$ of£60,(NJ). io. COMPARATTVES FOR THE STATEP*lE1 OF FINANCIAL A[vrIEs Unreffjided R¢5trid¢d fun¢ts furtds Toial fijnds INCOME AND ENDOWMENfs FROM Donations And le8acies 2.319 2,319 Other income Inv¢5tmcnt LllelYII¢ 188,168 161,985 188.168 162,065 80 Tot 352.472 352.552 EXPEND ON Ch•rit•ble acflvili Rareals fonnati0Th5 Mi55ion5 otYi¢e exF¢nditure Motor and travel expendiNre Donaiions and gift$ Care support of the Sime 3,570 16.8 53,730 41.589 24.081 304,093 3,570 16.8LN) 53,730 41.589 24,081 304,093 Suppon eoms 125,930 125,930 Tof*l 569,793 569,793 Net gain( on inves¢maits 1500,914) (S,914) 23 tonÉhnued...
SISTERS OF CIIARTfY OF 017R LADYOF EVRON NOTL8 TO THE FINANCtAL sfATEMETrtIS. continued FOR THE YEAR ENDED 31 DECEMBER 2011 COMPARATIVES FOR THE STATEMENT OF FINANCiAL ACTIVITIES.¢ontioued Unre5tiictoJ Re5thctcd fid5 funds Total nd5 Nrr tNCOWXPENDrruRE) (718235) (718.155) RECONCILIATIOIY OF FUNDS Total funds brought forward 757.739 566,891 7J24,630 6,039,504 566.971 6.6&5.475 11. AUDITORS, REMUNERATION During the year TemutKration of£16,8(X) (2022: £10.8(Kl) Wds to the auditorsof the charity. 12. TANGIBLE FIXED ASSETS Fixtures Frtchold Leasehold property fitting5 At l January 2023 Additions Rttlassifjcation 595m2 1001151 79.421 J85,(XN) 197J82 (185,(M) At 31 Decelnber 21723 410m2 2,IJW72 197J82 DEPRECIATION At l January 2023 Charge for year Re¢la55ificatiorthansfer 117J95 {liJ23} 13,718) 134,(K) 83318 3.718 141¥27 8J78 31 December2023 10154 220336 149,SY)S NET BOOK VALUE At 31 Decemb 2023 308238 IJ4S636 47,477 At 31 December 21Y22 4TI.697 .668,151 55,855 24 ¢ontinuul...
SISTERS OF CHARTfY OF OUR LADY OF EVRON NOTES TO THE FINANCtAL STATEMENIS. ¢ontloue41 FOR THE YEAR ENDED JI DECEMBER 21n3 l2. TANGIBLE FIXED ASSETS- tontinued Mot vebi¢les Computer equipm1 TO1$ co At l January 2023 Addiiions Reclassification 12A750 7.180 2,728,SSS 79,421 At 31 Deccrnl%r 2023 7,180 2,807,976 DEPRECIATION At l January 2023 Charge for ye4r Reclassificationltransfer 86J75 8.447 7,180 487.077 8832 At 31 December 2023 422 7,180 5753yI NET BOOK VALUE At J l Dwernkr 2023 31328 2332,679 At 31 Dtt£mber 2022 39.775 2,241,478 Fre¢h(Ad propty c0Th5ists of two ProleS in the following Iatio.- Liverp¢y)I Porthmadog 285.C82 125.NJO 410.(P)2 The net I value of angibl¢ fixvAI a55eL8 includes £ 5.482 (2022 - £ 7J09 ) in respxt of assets hdd under hire purchase cOntrS. Shaffs in Listed inv¢#m¢ntS undcrtakn.ngs Totals At l January 2023 Additions Di5Tr0sals Revaluations 4,130,935 4.130,936 lJ42,752 AJ42,752 (1.534,139) {1S34.139) 104,7S6 104,756 At 31 Dc£crnber 2023 4WJ04 4JJ44J05 rqET BOOK VALUE At 31 Decembu 2023 4,IM4JH 4.044J05 Al 31 Decemb2022 4,130,935 4.130,936 Th¢ change in maEet value in th¢ Statem1 of Financial A¢tivilies rcla*S tothe Gera1 Fund. 25 continud...
SISTERS OF CUARrrY OF OUR LADYOF EVRON N(yfES TO ThE FINANCIAL STATENTs- ¢ODtiDued FOR THE YEAR ENDED 31 DECEMBER 211L1 13. The charity holds I share of £1 in its wholly owned Subs¢di New Brinnin8ton Limitol, which 15 incortQTated in ihe United Kingdom. These shares are called up unpaid. The ¢ompany's Purpose LS to constrnct residential prom for the charity, to fijnher its aim of caring for mernlKrs of the congre10n. 14. DEBTORS 21123 2022 AmLwnts falling duc within one year.. Arn(xJnts owed by gr(P undettakir Other debtors Prcpayments and x¢nJeJ it¢ 24237 14J24 I38 6,166 18,909 15,826 52,069 40,901 Amtyjnts fa]ling due after more ihan oneyear. herdebtors 400 Aggregate amounts 41.301 I& CREDITORS: Amou FALLING DUE WThN ONE YEAR 20 2022 Bank loans and oveTdTafts (se¢ n(rt¢ 17) Hire purchase{see nore 18) Social stturiry and othertaxes Other crl[0T5 (see not¢ 19) Accwed expens¢5 45,565 2,549 2,701 1,1 7,497 36 7,171 28,798 41 Jll 85,147 26 continud..
SISTERS OF CHARTfY OF OiJR LADY OF EVRON NiyfKs TO THE FINANCIAL STATEMENTS. eoniinued FOR THE YEAR ENDED 31 DECEMBER 2023 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE ITAR 2022 Hire purtha5¢ (stt n¢xe 18) 1,646 4,347 17. LOANS An analysis of the maturity of loans is givth bEIow. 2023 2022 knounts falling du¢ within one yearon deffl.. Bank ovcrthafts 45,565 18. LEASING AGREEMENTS Minimum lea%e payments under hire pUhas¢ fall da$ follows: 2023 2022 Net obligations wabl¢: Within one year Ben¥een one and fivcyeaT5 2,549 4,347 4?47 6.896 19. MOVEMENf IN FUNDS N¢t movement in funds Transfus bttw¢¢Th funds At 31.12.23 Ai 1.1.23 Ut)restricted hllds Genernl fund Retirement Resuve Fund (designatoj fithd) Care and De¥elopmeni Fund (deg"gn&ed fvnd) 1069SiS 3JOA233 {401,633) 214J46 831,97Q (129ffj54) 2399852 3J85925 868,756 (135J50) 754,095 039504 (106598) 0,439,872 R¢stri¢¢¢d Si5teTS {566J66) 56&971 15(W) TOTAL FUNDS ,47S {IW98) 6,439077 27 continued...
sisrERS OF cli1ITy OF OUR IADY OF EVRON NOTES TO THE FINANCIAL sfATEMENTS. tonlinvd FOR THE YEAR ENDED 31 DECEMBER 2023 19. MOVEMENT IN FUNDS. colled Ne( movem¢nt in indudtsl in the aknve a]ras follows". Movtsnent in fvthds expendoj Unrestritt¢d fwm Generdl fund Reiirefftent RuerveFund (d¢siNoJ fijnd) Care and DeVelMeTht Fund (desigrA1 fund) 19&9)1 119359 (599.233) 12&48D) (iJoi) 123467 (401.033) 214J46 38,101 {lJ18} (16.194) 20ffj89 356261 {628J31) (166J98) TOTAL FUNDS 3261 (628,931) i072 (16698) Comp*ratives for movement hu Net movment in fuTwJs TT3nsfcrs between n(ts At 1.1.22 31.12.22 Unrestrieted futsd8 Gene fvnd Retirement Reserve FUTWI {designattd fund) Car¢ and Development Fund (desi fvndl 2.059.118 3.728,786 (401.1I$7) {253,479) 211,463 (174,073) 1,869,514 3JOI.234 969.835 (63.689) {37,390) 868.756 6.757.739 (718235) 6,039,504 Re5tsirted funds Sisters Retirement Prowty FuThl 566.886 80 566.966 566.891 80 566.971 TOTAL FiJNDS 7J24,630 (718.155) 6,606.475 28 continuoj...
SISTERS OF CllARrrYoF OUR tADY OF EVRON FOR THE YEAR ENDED 31 DECEMBER 2023 19. Comparative net movem1 in ffiJI includul in the above are ¥ follow& Incoming Resources Gairts and loss¢$ Movement in fvnds GeneTal fund Retirement iieserve Fund (degigrhattsj fund) Care and Develwent Fund (designad fund) 192.861 121,638 (569.793) (24.135) (375.117) (401,067) (253.479) 37.973 (101.662) (63.689) 352,472 (569,793) (5CQ,914) (718,235) R¢stri¢t¢d funds Si5teTS 80 TOTAL FUNDS 352,552 (569,793) (5(K>,914) (718,155) A curTeni year 12 months at)d prior year 12 months combin&J is as follows: Nct movement in fund5 Trdllsfer5 betww) fund5 At 31.12.23 At 1.122 UDrestiicted funds GeneTal fund Retirunent Reserve Fund (designatoj fund) Care and Development Fund (designeAI fvnd) 2.059.118 3.728.786 (802,7(X)> (39,133} ,iM3,433 (303.727) 2,299,851 3 J85.926 969.835 (43.¢KKJ) {172.740) 754.5 6,757.739 (884,833) 566.966 6.439.872 Restrirted Sisters Retiremerti Propety Fund 566.886 (5669661 566.891 80 (566,966) 7.324,630 (884.753) 6,439,877 eontknued...
SISTERS OF CllARrrYoF OUR LADY OF EVRON NOTES TO THE FINANCLIL STATEMENTS. contlllu FOR THE ITAR ENDED 31 DECEMBER U123 19. MOVEMENT IN FIJNDS. continued A CUTrent year 12 months and prior year 12 months combined n# movanent in fund5, included in the above are a5 follows: Incoming Re50urc¢s Gairts and losses Movement in fvnds Unr¢Mrfeted (unds Generdl fund Retirement Reserve Fund (d¢5ignat¢d fund) Care and Development Fund (designated fvnd) 391,762 240.897 (1.169,026) (28,480) (25,436) (251,550) (802,7W) (39,133) 76.074 (1218) (117,8561 (43,000) 708,733 (1,198,724) (394,8421 {884.833) Restricted fllnds Sisters TOTAL FUNDS 708,813 {1.198,724) (394.842) (884,753) RdiremeDt Property This r&tiiet¢d fund ry)nsists of moni¢s rwxiv¢d specifically io t¢ used to tJild a residential property to be us by the SIrs in their rdiremeftt. C8r¢ tl¢v¢lopmeDt Fund Thi5 ts a designatd fvnd MprIsing of Investm set aside to gerC income to a5$t with th¢ Ca for th¢ Sistcr5 and enable thctn to C out thcirpthT31 Work and ministy in the UK and elscwhcTe. This is a designated fijnd o)mpTigng of inv¢s1m¢nts %t aside to generate in¢owK to as5is1 with th¢ svpt4)rt of the Si#ers in their retirement. 20. RELATED PARTY DISCLOSURES Included within oiher creditors is £7281 (2022.. £6.966) owed to a SI at the year which is being held for her. This is her patrimony and is in¢lud¢d within rtstiict¢d fvnd5. As Med in the a¢counting licIeS the cornmunity xcamts are included within Ihe5e finanCE ateme[. These cxpcn5es tnclu(k m5nimum levels of living CO$ fL the Sistus who pmvide their timt working to furthcr the objectives of the Charity and dte thtir inC(e tothe Charity. Some of thcsc Sister5 are a150 trustCe5. Included within debtors is an amount du¢ frThn New Brinnington LirnituL a subsidiary compaThy. of £24237 {2022: £6.166). continued...
sisrERS OF CHARfTY OF OUR IADY OF EVRON NOT&S TO THE FINAI¥CIAL STATEMENTS. CODliTrued FOR TUE YEAR ElED 31 DECEMBER 2023 21. Th¢ charity is ¢ontrollrAI by the tru&ees in otTice.