Charity registration number 251267 Sisters Of Charity Of Our Lady Of Evron Annual Report and Financial Statements For the year ended 31 December 2024
Sisters Of Charity Of Our Lady Of Evron Legal and administrative information Trustees Sister C Kelly Sister P M Nughes Sister L Gilbey Sister M A Mccready Sister M Considine Charlty number 251267 Principal address 36 Presle1d Court Kensington stet Whitefield Manchester United Kingdryn M45 6FH Auditor DJH Audit Limited The Exchange 5 Bank Street Bury Lancashire BL9 ODN
Sisters Of Charity Of Our Lady Of Evron Contents Page Trustees, pOrt i-io Statement of trustees, responsibilities li Independent auditor's report 12-14 statement of financial activities 15 Balance sheet 16 Statement of cash ftows 17 Notes to the financial statements 18-32
Sisters Of Charity Of Our Lady Of Evron Trustees, report For the year ended 31 December 2024 The trustees present their annual report and financial Statements for the year ended 31 December 2024. The Trustee5 have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Prartice applicable to tharitie5 preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I january 2019). INTRODUCTION The full name of the Charity is the Congregation of the Sisters of Charity of Our Lady of Evron, commonly known as the Sisters of Evron. The Congregation of the Sisters of Evron is an international Roman Catholic Religious Congregation supporting 110 Sisters worldwide of whom 16 live in the UK. It was founded in France in 1682, where its Generalate is still located. The Cofigregation is divided into three Region5 consisting of the Region of Africa,. the Region of Fran,. and the Trinitas Region, which Comprises the UK. Peru and Canada. For accounting purposes, each country within the Trinitas Region is autonDmous. The accounts accompanying this report are the accounts of the charitable trust on which the asset5 of the Congregation in the UK, known as Trinitas UK, are held. Mi551on Trinita5 UK of the Sisters of Evron aims to support the religious and other charitable works carrieé Dn by the member5 of the Congregation, to Ca for those members throughout their lives within the Congregation, as well as ensuring cornpliance with the Charities Act 2011. These ministries of the Sisie of Evron, all of which benefit numerous members of the public, fall into the following main areas.. land t ral work Many members of the Congregatiorb are involved in variou5 forms of soaal or pastoral work throughout England and Wales, induding care of Ihe elderly and deaf people, family support. and Parish Ministry. Qverseas missiona work The Charity also helps support Sisters working in healthcare and %)cial and pastoral fields in Peru and Africa. OBJECTIVE5 AND AcTIVIE5 Objectives and aims for the Public Benefit As stated above under-mission" the activities of the Charity can be divided into three principal aa5. l. Carin r members of In common with many religious congregations in the UK. the age profile or the members of the Congregalion is increasing as existing members grow older and the number of new vocations becomes minimal. The age profile of the Congregation in the UK is shown below- Ages 20-49 50-5911963-1974) 60-6911953-1964) 70-79 11943-19541 8Ql-89 (1933-1944) 90-99 (1923-1934) No. of Sisters 16
Sisters Of Charity Of Our Lady Of Evron Trustees, report (continued) For the year ended 31 December 2024 Trinit85 UK has an obligation, both moral and legal. to provide care for its members, none of whom have resources of their own and all of whom have devoted a significant part of their lives lo education, nursing and the care of the elderly, deaf. poor and marginalised in society. As the age profile increases so too doe5 the need to pmvide increasing and increasingly expensive care to the Sisters. At presènt two members of Trinitas UK are living in external nursing homes run by or9anisations with a Catholic ethos. A community house, Evron-Brinnington, has been designed and built to accommodate our more senior Sisters in their retirement. Over the next decade, the Trustees expect the nurnber of members requiring Ca to increase. Consequently¢ the Trustees are giving careful consideration to the impact of this on the work of individual members of the COngration. the property requirefflent5 of the Congregation and the financial implicatitsns. In this regard, the aims of the Truslees over the forthcomin9 years include.. ensuring all members of Trinitas UK e1ve the high level of care they requio to provide them with Ihe quality of life they should rightly expect. viewing the Charity's properties which are used as community houses and assessing their suitability- enabling all members of Trinitas UK to continue with their individual ministries for as long as possible. 2. Social and astoral work The following are examples of the soaal and pastoral work undertaken by individual Sisters.. working in parishes, induding visiting parishioners and assisting in catechetical programmes. to help parishioners develop their spiritual lives: involvement in ecumenical and other faith artivikn"es- workin9 in pastoTrl care with deaf people. aéministrative and secretarial support to Church organisations: pastordl care in nursing and residential homes- justEce and pea initiatives- supporting children and families. The aims of the Trust in thi5 area include= promoting the human rights of the indivi(lual for the good of all humanity. enabling all members of Trinitas UK to carry out meaningful Social and pastoral W¢) within the community after assessing their skills and the need5 of the local area- encoura9ing and motivating members to work with Bnd assist the wor, elderly and marginalised; wherever possible, ensuring Sisters are remunerated for such work by way of salary or stipend. Such income is covenanted to the Charity and thereby ensures that the work of the Sisters and charity may ntInue anij develop into the future. 3.su rtfor ssiona ork The Charity provides financial support ft)r the Congregation's missions in the Ivory Coast, Buna Faso and Peru. The missions are under the control of the Congregation and the financial support is Ljsed to meet the personal and living expenses of the Sisters. Funds are translerred annually a5 agreed by the tnembers of the Congregatir)n Leadership Team. Apostolic Work Throughout the year, and In accordance with their apostolic work, Sisters give their time to as515t the poor nd maryinalised and thDse in need. Sisters re1ve no financial reward for this work, which contributes to the overall achievement of the Charity's objectives. In addition. members are involved in administering the work of the Congregation and Charily,. withoul this contribution. the Charity would not be able to function as effertively or fully as it does. During the year, the areas in which members of the Congregation 9ave their time without financial reward included: pastorBI work. inclu(Jing taking Communion to the housebound and to those in residential homes: gener81 pbrish work: Trinitas UK administration- voluntary work for many other organisations and charities as detailed further on within this pOrt. It is estimèted that the tirne spent on these aposlolic activities was more than 10.000 hours.
Sisters Of Charity Of Our Lady Of Evron Trustees. report (continued) For the year ended 31 December 2024 Protection of Adults at Risk Along with all other organisations who serve irh the community. the Trustees COgnIse the absolute necessity of ensuring the protection and safely of all those the Charity serves. This tneans Ihat all Sisters who are in any kind of ministry In the UK rnusl obtain dearance from the Disclosure and Barring Service. The Trustee5 are committed to implementing all policies and procedures of the Religious Life Safeguardin9 SeNice and Catholic Safeguardin9 Standards Agency and have a named Designated Lead to ensure that this happens. The Trustees, the DSL and staff undertake training and are kept updated regarding any new legislation. Donations and 5UPPOrt of mlssionary work and ministry Donations and other paymènts in support of missionary work and msnistry are decided on by the Trustees in consultation wilh other members of the ConggatIon a5 appmpriate. Whilst the Trustees give occasional support to United Kingdom organisations whose work is within the objects of the Charity, the Charity does not regard itself as a grant making entity and applications for grants and donations are not invited. Investment polity The Charity's investments a managed by Rathbones, CCLA and Waverton Investment Management Limited. There are no restriction5 On the Charbty's power to invest. The investment policy 15 Set by the Trustees and considers the liquidity requirements which enable the Charity's objectives, the Trustees. attitude to risk, and ethical and socially responsible inVting criteria and the Tnveslment Managers. views on the investments. market. Investment Managers are appointed to manage on a discretionary basis. The mandates require a balanced and diversified apprtsach combining income returns w¥th real capital growth over the medium to long-term whi15t following the Charily's ethical policy. However, the Trustees recognise that the diversified nature of any companies. activities means that within their total operations the may be stnall areas to which the Trustees might object. For practical feasons. the Trustee5 would not object if rhot more than 5Wo of a group's profit Is derived from prohibited activities. Purpose of Investments The funds possessed by the Charity enable it to carry out its Apostolic Mission. The principal purpose of having investments is to provide the income required to sustsin the obligations - both current and future. These obligations include= the 'Solidarity Fund" for the third world missions of the Congregation- the welfare of the older Sisters of the Congregation who live in Fran. the care of the sick and older Sisters of Trinitas UK; the formation of Sisters. provision of suitable property and its ongoing maintenan. other expenditure necessary for fulfilling the Charity's d)aritable objectives. Socially Responsible Investin9 The Trustees seek to IVt in companies that are socially and ethically responsible and which to tnake positive contribution to society, and which engage in activitie5 such as: prodLFcls and services that are of long-terni benefit to the community- conservation of energy and naturèl resources: environrnentèl improvements and pollution control. high employee welfare standards: respect for the Sanctity of human life: transpancY regardirhg activities.
Sisters Of Charity Of Our Lady Of Evron Trustees. report (continued) For the year ended 31 December 2024 The Trustees seek to refrain from dealing with companies which are engaged in: trading with oppressive regimes and Countries with poor human rights records. unnecessary exploitation of animals; environmentally damagin9 pracknces.. porrhography and the exploitstion of women- human traffickingi armaments. genetic engineering, abortion and embryonic Search. èuthanasia,. tobacco production. gambling. Given the global nature of business and the finanoal markets in the wodd it is difficult always to match these aims with the procedures of each CoMny. However. regular meetings are held with the investment managers to review the Charity's investments against the Charity's policy of involvement in the various companies. The Trustee5 encourage the investment managers to foster resrnsIb1e corporate behaviour, by consulting with the Charity prior to involvement in issues which may be of ethical Conrn. ACHIEVEMENT AND PERFORMANCE Review of activitie5 The following paragraphs outline the main athievements during the year in each of the Charity's principal activilies. l. Carin for rnem f the Con ation Throughout the year the Charity continued to aSSlSt members of Trinitas UK in their charitable and religious work. Two members of the Congregation was cared for in a nursing home run by an oroanisation with a Christian ethos. whilst the Charity enabled other members to work and volunteer in their chosen ministry. As previously ststed, It Is a great Joy to have a purpose-built community house where five Df our older Sisters live out their retirement in comfort. they have acce5S to all they require and staff to assist them. Trinitas UK has a moral obligation to SUPFrf)rt our elderly Sisters in the Mother House and the General Administration in France and has pledged up to EIO,000 annually to their need. astoral work Throughout the year, sisters ¢ontinued to carry out various fomis of soual and pastoral work in order to fulfil their individual minisLries. This work enable5 the Charity to reach crtjt to those in need within society generally and benefit a very significant nLJmber of people.
Sisters Of Charity Of Our Lady Of Evron Trustees. report (continued} For the year ended 31 December 2024 Case Studie5 from some of the Religious Sisters {please note that names have been changed) As a Parish Sister in a large semi-rural parish which includes four Churches l am aciively involved In variou5 ministries working closely with the Parish Priest. Two area of ministry include: Visiling the elderly forms part of my ministry both in their own homes and those who are in Care or Nursing Homes. Many eldedy people whom I visit have moved into this area to be close tD family rnefflbers. In doing so they are uprooTrted from their usual erhvirontnent and friends which can cause isolation and fear. Retrntry I have been increasingly aware of some of the elderly I visit in their own homes are suffering from panic attacks and feelings of fear. My regular visits and phone ca115 provide a security and a link to their new reality. This feelin9 of i501ats.on is also present in the many Care and Nursing Homes which I visit especially in the Homes for those with suffering from dettbentia. Often all that is needed is a friendly face and a listening ear whi(h l am happy to offer. Sadly, for some I am the only visitor they have. Within my involvement in the Parish, l am encouraging other groups e.g. the SVP and Eucharistic Ministers to visit the Care and Nursng Homes. Parish Schools: The cost-of-living inueose has made it very difficult financially for some parents in Dur two primary schools. Working with the staff in the school we have provided regular f(Mxl parce15 for many families. ecently, we have had two cases where the father has left the family with many debts, no contact alld no financial help. One resulting in ihe family being evicted within the last week. I work tlosely with the Head Mistresses of the schools, local agencies and the SVP enabling help both practical and financial help with food, clothing, housing. l am glad to say that one family whith we helped at the beginning of the year has been rehoTrused etc. and now Mum and her two sons are (Joing well at every level. One Sister volunteers with a fi)od programme for a Street homeless charity in Bury Lancashire. Soup, hot meals , sandwiches are distributed from a van which cirdes around the town seven nights per week. It is a vital service to those in need. serving 50 homeless people per night. Women receive hygiene packs, all receive fresh socks and underwear. Our Sister partakes of the food preparation and the hygiene and clothes pack. Many of the Servi users have sought to have a talk with Sister when she is present. It Is a hidden work but very vital in the current society. Investment performance The performance of the Investment Portfolio and the Charity'5 Investment Strategy are monitored by the Independent Strategic and Financial Adviser, who reports regulady tts the Trustees. The Trustees also meet with the investment rnanagers on a regular ba51S to ensure that they are fo11owing the Charity's investment strategy and to review their performance. with the assistance of the Independent strategic and Financial Adviser. Investment values rose in 2024 with net gains of around £217k. Investments at the year-end are at a lower value than they were at the end of 2023 due to disposals during the year. The Trustees are content that their Investments continue satisfactorily to supFx)rt the Charity's objertives.
Sisters Of Charity Of Our Lady Of Evron Trustees. report (continued) For the year ended 31 December 2024 FINANCIAL REVIEW Results for the year During 2024 total incoming resour5 amounted to £303.640 (2023: £356,261). Investment income and Interest receivable totalled £127.595 {2C123: £158,948). Resour5 expended to generate income and to enable the objectives of the Charity to be met totalled £651,986 compared to £628,931 in 2023. Of this total, expenditure on strategy and govemance, including the fees paid to the Charit¢s invèstment managers and audilors, amounted to £120,161 (2023- É101,2411. Net gains on investments in the year amounted to £254.938 (2023= £107.373). Net resources expended for the year were £93,709 (2023: £166,598). The Trustees are satisfied that all of Ihe Charity's assets are stated in the statement of financial position in accordance with the Charity's accounting )lICies. Reserves polity and financial position The reader will dIsrn fmm the foregoing that the Charity carries out a ijiverse range of activities and is responsible for care and support of Sisters whose average age is increasing and whose needs are changing. Accordingly, the Trustees have designated reserves for: retirement: and, the Ca and support of Sister5 ill their tnission activities. In aggregate at the statement of financial PDsilion date, these designated reserves amounted to £4,116.893 (2023: £4,140.020). In addition, £2,126.230 (2023- £2,201.3511 of the totsl reserves is represented by properties and fixtures which a e55ential for the support and work of the Sisters. FrÈe rÈserves as at 31 Oecember 2024 are thus £103.040 (2023= E98.501). The Trustee5 are satisfied that. given the nature of the Charity's work and its COtnmitment5, this represents an adequate level of free reserves. FUTURE PLANS The Truslees are continuing to work with professional advisers in order to maximise the proceeds of the disposal of the fixed assets In order that such realisatr.ons can be used ft)r the geneial objectives of the Charity. It is the Tnjstees, intention to continue to meet the following objettwes.. lo care for the sisters and enable them to carry out their pastorèl WO and ministry. Focus will continue to be 9iven to assisting and caring for the elderly, deaf people, those in spiritual need, the poor and the marginalised and reaching out to as many people as possible. to support the elderly Sisters in the Mother House and the General Administration in France. to support the Congregation's work in Petu and Africa. to monitor the needs of the Sisters as they grow older and. if neTrssary, adapt the Charity's plans in respect of property needs and the proviston of care to older members. EMPLOYEES AND MEMBERS OF THE CONGREGATION The Trustees wish to record their COgni.0n of the professionalism and commitment of all their staff and the individual members of the Congregation. Their (Sedication and positive approach are very much appreciated. We invite staff to training days to updale them on issues relevant to their a0 of work and also issues related to safeguarding and correct prOdureS in line with our poliaes.
Sisters Of Charity Of Our Lady Of Evron Trustees. report (continued) For the year ended 31 December 2024 structurei govemance and management Governance In terms of Canon Law, the Congregation 15 govemed at an Intemational level by the Sister elected as Congregational Leader along with a team of three others who are also elected at the General Chapter every five years. This General Chapter or meeting has as its representstives. metnbers from all regions of thè Congregation. The last General Chapter took Pla in August 2022. The Trinita5 iJK area is governed by a Team of five Sisters {the Co-ordinating Team) along wlth the Regional Leader. The Regional Leader is also an Asslstant on the Congregational Leadership Team. Four specialisl areas have been identified as vital for the wellbeingi mission and growth of Trinitas UK: olistic Care Mission and Spirituality Formation Financial Stewardship. The conggatIOnal Leader makes an official vi51t to Trinitas UK at least On every five years. In terms of Civil Law the Charity 15 govemed by a Trust Deed dated 30 December 1966 las amended in 2D08) and is a Registered Charity Charity Registration Number 251267. The Trustee body was incorporated under Part Vll of The Charities Act 1993 and the Certificate of Incorporation was issued ès of that date. The Tru5tee5 of the Charity are: the Regional Leader living in UK.. Trinilas UK Bursar- two members of the Co-ordinating Team: and a member of the finance group. All Trustees are members of the Congregation. They have a detailed knoiwledge of the WCTrrk of the Congregètion and of its structure. On being appointed, new Trustees are required to Spend one full doy with those Trustees leaving office, and the Trustees also avail of training days. They also rneet with the Trinita5 UK legal, accounling, investment and property advisers. to obtain a full briefing of their responsibilities and the Charily's position. The natnes of the Trustees who served during the year are set out below: Sister C Kelly Sister P M Hughes Sister L Gilbey Sister M A Mccready Sister M Cwsidine structure and management reportin9 The Trustees are ultimately responsible for the polioes, activities and assets or the Charity. They meet quarterly to review developments regarding the Charity and its aciivities and make any impr)rtant decisions. When necessary. the Trustees seek advice and support from the Charity's professional adviser5 including property consultants, investment managers, 5Dlicitors and acc(Truntants. The day-to-day tnanagement of the Charity's activities. and the implementation ol policies, is delegated to the appropriate rnember5 of the Congregation. Trinitas UK Comprises 16 Sisters who live in six different houses. Five of the community houses a situated in the North West of England and one 15 Sltuated in North Wales. The community houses are in those areas of towns and cities Whe it is believed that the siste can provide the most help to the poor and marginalised. Often these a $iallY deprived areas desperately In need of the care and pastoral work carried out by the Sisters.
Sisters Of Charity Of Our Lady Of Evron Trustees. report (continued) For the year ended 31 December 2024 Working wSth other organlsatk•ns and dwrities The Si5ter5 perfprm their apostolic dubes for extemal charities and public bodies whith provide Ca to the vulnerable, the elderly, children, the deaf and all those in any circumstance of deprivation. Most Sisters in 2024 had an informal relationship with charitable organisations. In all cases, working together with other charities and public bodies enhan5 comrnunication and understandingi enabling services to be provided more efficiently and avoiding duplication of effort. Examples of the organisations for whlch members have worked and with which the Charity has cooperdted during the year are as follows: Caritas. DI0Se of Salford Roman Catholic Dioceses of Salford, Shrewsbury. Liverpool. Wrexham Saint Joseph's Mission to Deaf People Charity Risk management In line with the QuireMent for Trustee5 to undertake a risk assessment exercise and report on the same in their annual report, the Trustee5 have reviewed the current and future risks Df the Congregation. The Trustees have identified five main areas where risks may ocujr: Governance and mana9ement looks at the risk of the Congregation, and hen the Charity. suffering from a I of diredK)n. at the skills and trainin9 of its members and staff, and the good use of its resources. Operational looks at the risks inherent in the Charity'5 activities, such a5 rnembers engaging in inappropriate activities, the unsuitability of lIding5, poor maintenan, shortcomings in the services provided, éifficulties with stèff. p(MTrr health and safety. lack of a disaster recovery policyi etc. Financial risks inclu(le those arising as a result of poor budgetary control, Inappmpriate spending¢ poor accounling, inappmpriate investment policies, etc. Reputational looks at possible damage to the Congregation's andlor charity's reputation. Laws, regulations, external and environmental looks at the effects of government polioes, the consequences of non-compliance with laws and gUlationS and poor risk assessment. Having assessed the major risks to which the Charity is eX)sed, the Trustees believe that by monitoring reserve levels, ensuring controls exist over key financial systems and examinin9 the operatior)al and business risks faced by the Charity, effective systems have been established to mitigate the risks identified.
Sisters Of Charity Of Our Lady Of Evron Trustees, report (continued) For the year ended 31 December 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number- 251267 Principal address: 36 Prestfield Court Kensington St Whitefield Manchester M45 6FH Auditors: DJH Audit Limited Statulory Auditors The Exchange 5 Bank Street Bury BL9 ODN Bankers: National Westminster Bank PIC 10 Great Underbank Stockport Cheshire SKI ILL Scottish Widow5 Bank PIC PO Box 12757 67 Morrison Street Edinburgh EH3 8YJ HSBC Bank Pk 23 Allerton Road moSeY Hill Liverp(bol L16 2DA Epworth Investment Management Ltd 9 Bonhill Street London EC2A 4PE Sollcitors: Womble Bond Dickinson One Trinity Broad Cha Newcastle Upon Tyne NEI 2HF
Sisters Of Charity Of Our Lady Of Evron Trustees. report (continued) For the year ended 31 December 2024 Investrnent managers: Rathbones Brothers PIC 8 Finsbury Circus London EC2M 7AZ CCLA PO Box 12892 Dunmow Essex CN6 9DL Waverton Investment Management 16 Babtnaes Street Londorh SWIY 6AH IndependÈnt strategic and financial adviser: Tim O'Brien B Com FCA Optimum Support Golden Cmss Housè 8 Duncannon Street Lon(5on WC2N 4JF The trustees. report was approved by the Board of Trustees. Sis erm Trustee onsidine Date.. ..lo,l £ io
Sisters Of Charity Of Our Lady Of Evron statement of trustees. responsibilities For the year ended 31 December 2024 The trustees are responsible for preparing the Trustees. Report and the financial statenients in accordance with applicable law anij united Kingdom Accounting Stan(Jards {United Kingdom Generally Accepted Accounting Practice}. The law appllcable to charities in England and Wale5 requi$ the tnjstees to prepare finanaal stalements for each fitbancial year which give a true and fair view of the state of affairs of the charhty and of the incoming resources and applicalion of resour5 of the charity for that year. Tn preparing these financial statements. the trustees are required to: select suitable accountin9 )lICIeS and then apply them con515tently- observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent,. state whether applicable accounting Standard5 have been followed, subject to any materlal departures disdosed and explained in the financial statements. and prepare the f1nancial statements on the going conrn basis unless it is inappmFbriate to presume that the charity will continue in operation. The trustee5 are responsible for keeping sufficient accounting CordS that disclose with reasonable accuracy at any time the finanaal position of the charity and enable Ihem to ensure that the financial statements comply with the Charities Act 2011, the Charity {Account5 and Reports) Regulations 2008 and the provisions of the trust deed. They are als9 re5POll5ible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detethon of fraud and other Irregularities.
Sisters Of Charity Of Our Lady Of Evron Independent audltor's report To the trustees of Sisters of Charity of Our Lady of Evron Opinion We have audited the finanoal ststements of Si5ter5 of Charity of Our Lady of Evron {the 'charity') for the year ended 31 December 2024 which comprise the statement of finanoal activities, the balance sheet, the statefflent of cash flows and notes to the finanoal statements. including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, induding Financial Ret)orting Standard 102 The Financial Reporting Standard applKable in the UK and Republtc of IfEland (United Kingdom Generally Accepted Accounting Prattice). In our opinion, the finanoal statements- give a true and fair viev4 of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended- have been propedy prepared in accordance with United Kingdcffi Generally Accepted Accounting Practice,. and have been prepad in accordan with the requ1Ments of the Charities Act 2011. Basis for opinion We conducted our audit in accordan with Intemational Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those stsndards a further described in the Auditor's responsibilities for the audit of the financial statements section of our etrt. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical resptsn5ibilities in accordance with these requirements. We believe that the audit eviden we have obtained is suffiaent 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 concem basis of accounting in the preparation of the financial statetnents 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 tharity's ability to continue s a going conrn for a period of at least twelve months from when the financial statement5 a authorised for issue. Our SpOnSibl11t1eS and the responsibilTties of the trustees with respect to going concern are described in the relevant Sections of this pOrt. Other Informatlon The other information comprises the information induded in the annual report other than the financial statements and our auditor's report thereon. The tfU5tees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other infDrmation and we do not express any form of assurance condusion theOn. 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 otrr knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent malerial 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 rert Èn this regard. 12
Sisters Of Charity Of Our Lady Of Evron Independent auditor's report (continued) To the trustees of Sisters of Charity of Our Lady of Evron Matters on which we are required to report by Èxceptlon We have nothing to report in respect of the following matters in relation ko which the Charities {Accounts and Reports) Regulations 2Q08 require us to report to you if, in our opinion= the information given in the financial statements is inconsistent in any material respect with the trustees. report- or sufficient accounting records have not been kept. or the finanoal statements are not in agreement with the accounling records. or we have not reIved all the infom)ation and explanations we require for our audit. Responsibilitie5 of trustees As explained more fully in the statement of tstee5. responsibilitie5, the trustees are responsible for the preparation of the finèncial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary tD enable the preparation of financial statements that are free from matersal misstatement, whether due to fraud or error. In preparing the financial statèments, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, malters related to going conrn and using the going concerrh basis of accounting unless the tru5tee5 either inlend to cease operations, or have no realistic altemative but to do so. Audltor's responsibilitie5 for the audit of the financial statements We have been appointed as auditor under Section 144 of the Charities Art 2011 and report in accordance with the Art and relevant regulations made or having effect thereunder. Our objectives are to oblain reasonable assurance about whether the financial staternents as a whole are free from rnateri31 misstatement, whether due to fraud or error, atjd to issue an auditor's report thal includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit condurted in accordance with ISAS IUKI will always detect a material misstatement when it exist5. Misstatettbents 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 a capable of detecting irregularities. including fraud, 15 detailed below. As part of our planning process: We enquired of management the systems and controls the charity has in place, the areas of the financial statemenls thal are mD5tly susceptible to the risk of irregularilies and Fraud, and whether there wa5 any knobvn, suspected or alleged fraud. The (harity did not inform us of any known, suspected or alleged fraud We obtained an understanding of the legal and regulatory ftameworks applicable to the charity. We determined that Ihe Charities SORP IFRS 1021 bs mosl relevant. We considered the inntiveS and opportunities Ihat exist in the charity. induding the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tall0d our risk assessment accordingly. Using our knowledge of the charily, together with the discussions held with the charity at the plènning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedure5 according to this risk assessrnenl. 13-
Sisters Of Charity Of Our Lady Of Evron Independent auditor's report (continued) To the trustees of Sisters of Charity of Our Lady of Evron The key procedu9 we un(Jertook to detect irregularities including ffaud during the course of the audit included: Identifying and testing joumal entries, in particular th05e that were significant and unusual. Reviewing the financial statement disclosures and deterniining whether accounting policies have been appropriately applied. Reviewing and challenging the assumplions and judgements LFsed by management in their significant accounting estimates, in particular in relation to estimating the useful economic life of an assel and its residual value. Assessing the extent of compliance. or lack of, with the relevant laws and regulations in particular those that are central to the entities ability to continue in operation. Testing key income lines for eviden of management bias. Obtaining third-party confirmation of material bank and invesbnent balan. DDCUtnenting and verifying all Significant related party balances and tran5artions. Reviewing third party documentation and correspondence for discussions of irregularities including fftud. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the trustees of the charity. A further ées¢ription of our SpOnsIbl1e5 is available on the Yinancial Reportlng Council's website at- https-//www.frc.or9.uVauditorsresponsibilibes. This description forms part of our auditoes POrt. Use of our report This report is made solely to the tharity's trustees, as a body. in accordance wrth part 4 of the Charitie5 (Accounts and Reports) Regulations 2008. Our audil wotk has been undertaken so that we might slate to the charity's tnJstees those matters we are required to state to them in an auditorfs report and for n other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone ther than the charity and the charity's trustees as a b¢xly. for our audit work, for this report. or ft)r the opinions we have formed. IJJ Z_u Richard Askey (Senior Statutory Auditor) for and on behalf of OJH Audit Limited o /io las Chartered Atcountants statutory Auditor The Exchange 5 Bank Street Bury Lancashire BL9 ODN DJH Audit Lirnited is eligible for appointment as auditor of the charity by virtue of its eligibility for appc>intment as auditor of a company under section 1212 of the Companies Art 2006. 14-
Sisters Of Charity Of Our Lady Of Evron Statement of financial activities Including income and expenditure account For the year ended 31 December 2024 UnTe51ritted Restwlcted funds fund$ 2024 Total Unrestrlrted Restricted funds funds Total 2024 2024 2023 2023 2023 Notes Income and endowments from: Donations and legacies Investments 1641) 127.595 176.686 (6411 127,595 176.686 3.640 158.g48 193.673 3,640 158,948 193.673 Other income Total income 303.640 303.640 356,261 356,261 Expendlture on: Charitable activities 651,986 651,986 628.931 628.931 Total expenditure 651.986 651.986 628,931 628,931 Net gainslllossesl on inve5trnents li 254.938 254.938 107,373 107,373 Net expenditure 193.4081 {93.4081 (165,2971 1165.297} Transfers between funds 566.966 {566,9661 other recognised gains and losses: Other 105ses 13 {3011 13011 11,3011 11.301} Net movement In funds {93,709) (93.7091 400.368 (566.9661 1166,5981 Reconciliation of funds: Fund balances at l January 2024 6.439.872 6B19.877 6.039,504 566.971 6,606,475 Fund balances at 31 December 2024 6.346.163 6,346.168 6.439,872 6,439,877 The statement of financial activitie5 includes all gains and losses recognised in the year. All income and expenditure derive from continuing activilies. 15
Sisters Of Charity Of Our Lady Of Evron Balance sheet As at 31 December 2024 2024 2023 Fixed assets Tangible assets Investments 14 2,167.123 4.024.9S4 2,232,679 4.044.305 15 6,192,077 6,276,984 Currènt assets Debtors Cash at bank and in hand 16 65.459 149.331 52.069 154.281 214.790 206,350 Creditors: amounts fa115ng due wlthln one year 18 149.6241 141,8111 Net current a55ets 165,166 164,539 Total assets less current Ilabilitles 6,357,243 6.441,523 Creditors: amounts falling due after more than one year 19 {11.0751 11.646) Net assets 6,346,168 6,439,877 The funds of the charity Re5tritted income funds Unrestricted funds 20 21 6,346,163 6,439,872 6.346.168 6,439,877 Th8 financial statements were approved by the trustees on Sister M Considine Trustee 16
Sisters Of Charity Of Our Lady Of Evron Statement of cash flows For the year ended 31 December 2024 2024 2023 Notes Cash flows from operating activities Cash absorbed by operations 27 1379.130) {349.6721 Investing activities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed a55ets Purchase of investments Proceeds from disposal of inve5trnenis Investment income received 121,7751 1264.4211 551 181.282 11.342,7S21 l.S36.756 158,948 {616.4261 890,715 127,595 Net Cash generated from Investing activitie5 380,660 269,813 Financin9 actlvities Payment of finance leases obli9ations 16.4801 (2,5491 Net cash used in financin9 activities 16,4801 12.5491 Net decrease in cash and cash equivalents (4.9501 182,4081 Cash and cash equivalents at beginning of year 154.281 236,689 Cash and cash equivalents at end of year 149.331 154,281 17-
Sisters Of Charity Of Our Lady Of Evron Notes to the financial statements For the year ended 31 December 2024 Accounting policies 1.1 Accounting ronventlon The financial statements have been prepared In accordance with the tharity's SORP, the Charities Att 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" fFRS 102°) and the Charities SORP '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)" {effettive l January 2019). The charity is a Publit Benefit Entity as defined by FRS 102. The financial stalements are preparetl in sterfing. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 1.2 Going concern At the time of bpproving the financial siatement5, the trustee5 have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable futu. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable fund$ Unrestricted funds are available for use at the disuetion of the trustees in furtheran of their charitable objeciives. Restricied fund5 are subject to speofic conditions by donors or grantors as to how they may be used. The puiposes and uses of the reslrirted funds a set out in the notes to the financial statements. Endowment fund5 are subject to speafic conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entiued to it after any performance conditions have been met. the amounts can be meaSud relrably. and it Is probable that income will be received. Cash donatiL)ns a recognised on receipt. other donations are recognised once the charity has been notified of the donation, unles5 performance conditions require deferrnl of the amount. Income tax recovernble in relation to donations received under Gift Aid or deeds Df covenant is recognised at the lim¥ of the donation. Legacies are recognised on receipt or othetwise if the charity has been notified of an impendin9 distribution. the afflount is known. and receipt is expected. If the amount is not known, the legacy is treated as 6 contingent asset. l.S Expenditure Expenditure is recognised once there is a legal or constructive oblig)tion to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the L)bligation can be measured reliabfy. Expenditure is dassified by activity. The costs of eath activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attribuiable to a single activity a allocated dIttlY to that artivity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activitie5 on a basis consistent with the use of resource5. Central staff costs are allocated on the basis of time spent. and depreciaknon d)arges are allocated on the portion of the asset's use. 18
Sisters Of Charity Of Our Lady Of Evron Notes to the financial statements (continued) For the year ended 31 December 2024 Accounting policie5 (Continued) 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently rneasud at cost or valuation, net of depreciation and any impaimient losses. Depreciation is recogntsed so as to write off the cost or valuation of assets le5S their r2sidual values over their useful lives on the following bases.. Fr&hold land and buildings Leasehold land and builéings Fixtures and fittings Cornputers Motor vehicles 20-50 years straight line 20-50 years straight line 15% on reiluong balan 33% on cost 25% on reduang balance Freehold land is not depreciated. The gain or loss arising on the disposal of an asset is detemiined as the difference between the sale pr0CS and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Fixed asset Investments Fixed asset investments are initially measured at ttansattion price excluding transaction costs. and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel{expenditurel for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by the charity. Control is the power to govem the financial and operatlng policies of the entity so as to obtain benefrts from its activities. 1.8 Impairrnent of fixed assets At each reporting end date, the charity vIewS the carryin9 amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairmerbt loss. Jf anv such indication exists, the recOVebIe amount of the asset is estimated in order to determine the extent of the impairment loss lif any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liouid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 '8asic Financial Instruments. and Seciion 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instrument5. Financial instruments a reco9nised in the charity's balan sheet when the charity become5 Party lo the contractual provisions of the instrutnent. 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 reco9ni5ed amounts anij there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 19
Sisters Of Charity Of Our Lady Of Evron Notes to the financial statements (continued) For the year ended 31 December 2024 Accountlng polldes (Continued) Basic financial assets Basic financial assets, which indude debtor5 and cash and bank balances, are initially measured at transaction price induding transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transartion, Whe the transaction is meaSUd at the present value of the futu receipts discounted )t a market rate of interest. Financial a55ets dassified a5 re1vable within one year are not amortised. Basic flnanclal IlabiTlities Basic financial liabilities, including creditors and bank loans are initially recognised at transactlDn price unless the arrangement constitutes a financing transattion, where the debt instnjment is measured at the present value of the future payments discounted at a market rate of inte$t. Financial liabilitie5 classified as payable within one year are not amortised. Debt instruments a subsequently carried at amortlsed cost. uslng the effectlve interest te method. Trade creditors are obligations to pay for gwds or services that have been acquired in the ordinary course of opèrations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabÈlities. Trade creditors are recognised initially at transathon price and subsequently measured at amortised cost using the effective interest method. Inancial liabilities Derecognltlon of r Financial liabilities are ¢erecognised when the charity's conttaclual obligaliorbs expire or are discharged or Canlled. 1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are ceived. Terrnination benefits are recognised immediately as an expense when the charity is demDnstrably committed to terminate the employment of an employee or to provide temiination benefits. 1.12Lease$ Leases are classified as finance lease5 whenever the term5 of the lease transfer substantially all th risks and rewards of ownership to the lessees. All other leases are da5sified as operating leases. Assets held under finarbce leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting ol capital and interest eletnent5. The interest is charged to net income/lexpenditurel for the year 50 as to produce a constant periodic rate of interest on the mainIng balance of the liability. 20-
Sisters Of Charity Of Our Lady Of Evron Notes to the financial statements (continued) For the year ended 31 December 2024 Accounting policie5 (CoThtinuÈd) 1.13 Fund accountlng Unrestricted funds can be used in accordan with Ihe tharitsble objectives at the discretion of the trustee5. Unrestritted designated funds relate to activities and income and expenditure of the Charity's communities which are operated Y4ith a view to realising a surplus but which are also operated in support of the charity's rnain objectives. The designated funds are to be used initially for the furtherance of Ihose activities however the trustees have the power to reallocate these funds, Restrirted funds can only be used for particular restricted purp05e5 Wlthin the objects of the charity. Restrirtions arise when specified by the donor or when funds are raised for particular restricted purpDses. Further explanation of the nature and purpw)se of each fvrhd is included in the notes to the financial statements. Critical accountlng estimates and judgements In the application of the charity's accounting poliaes, the trustees are reqUId to make eslimate5 and judgements. The estimates are based on historical experiences and other relevant faci0. Actual results may differ fvom these eslimates. The estimates are continually evaluated. Revisions to accounting esiirnate5 are OgnISed in the period in which the estimate is revised. The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outltned below'.- Estimating the useful economic life of arh a55et arbd the antiopated residual value in calculating an appropriate depreciation charge. Determine whether there are any indicators of impairment Df the company's tangible 355ets. Income from donations and legacies UnrestrKcted fLJnd$ 2024 Unrestrlcted fund5 2023 Donations and gifts 16411 3,640 21
Sisters Of Charity Of Our Lady Of Evron Notes to the financial statements (continued) For the year ended 31 December 2024 Inrne from investments Unrestrlcted Unrestrlcted funds funds 2024 2023 Oividends and interest Bank interest 126,896 699 157,361 1,587 127,595 158,948 other Income Uttrestri¢ted Urtre$trfeted funds fund$ 2023 2024 Net gain on disposal of tsngible fixed assets Covenanted income 442 176.244 193,673 176.244 193,673 22-
Sisters Of Charity Of Our Lady Of Evron Notes to the financial statements (continued) For the year ended 31 December 2024 Expendlture on charitable artivitles Total funds 2024 Total fund$ 2023 Direct costs Staff costs Depreciation and impairment Donations and gifts Motor expenses Office expenditure Retreats and formations MissDns Establishmenl cost5 60,811 105.312 12.707 44,913 66,897 7,868 7,329 195,108 S6,13l 91,938 17,033 40.741 73,Q20 15.593 10,359 191,585 500,945 496,400 Share of support and governance costs (see note 7) Support Governance 30,880 120,161 31,290 101,241 651,986 628.931 Analysis by fund UnrtrIcted funds 051,986 628,931 Support costs allocated to activities 2024 2023 Bank charges Interest payable and similar charges Investment manager fees Governance costs L,717 1,268 325 29.163 120.161 29,697 101.24L 151,041 132.531 Analysed between: Total funds 151,041 132.531 23-
Sisters Of Charity Of Our Lady Of Evron Notes to the financial statements (continued) For the year ended 31 December 2024 Support costs allocated to activities (Contsnu¢d) 2024 2023 Governance costs comprlse: Audit f5 Legal and professional Strategic and financial advice 23.700 13,961 82.500 16,800 5,661 78,780 120,161 101,241 Net movement In funds 2024 2023 The net movement in funds IS stated after chargingl(crediting): Fees payable for the audit of the charity's finanoal Statements Depreciation of owned tangible fixed assets Profit on disposal of tangible fixeil assets 23,700 105,312 14421 16,800 91,938 Trustees None of the trustees (or any persons connected with them) received any muneratIon or benefits from the charity during the year. Trustee5' expenses The six trustee5 are Sisters of the conggatIon. As Sisters, they receive care and support from the charity in their retirernent, in line with the Charity's mission. This care and support is not a benefit that is r1ve{s for their role as a trustee an¢J is equal to the care and support received by all Sisters. 10 Employees The average monthly nurnber of employees during the year was: 2024 2023 Number Number Administration and support Employment Costs 2024 2023 Wages and salaries 60,811 56,131 There were no employees whose annual remuneration was more than E60.000. -24-
Sisters Of Charity Of Our Lady Of Evron Notes to the financial statements (continued) For the year ended 31 December 2024 11 Gains and losses on investments Unrestrfcted Unrestrlcted funds funds 2024 2023 Gainsl(losses) arising on: Revaluation of investments Sale of investments 217,460 37.478 104,756 2.617 254,938 107,373 12 TaxatSon The charity is exempt from taxation on its artivities because all its income is applied for charitable purposes. 13 Other gains and losse5 Unrestrlrted Unrestrirted furtd5 furtds 2D24 2023 Gains/(lossesl upon- Foreign exchange 301 1,301 25
Sisters Of Charity Of Our Lady Of Evron Notes to the financial statements (continued) For the year ended 31 December 2024 14 Tangible fixed assets Freehold Leasehold ¢tymputews and bulldlnos land and ffittings ljulldlty Motor vehldes TOts1 Cost At l January 2024 Addititsns DispDsals 410.092 2,066,572 21.225 197,382 7.180 550 126.750 18,090 18,1201 2.807.976 39.865 18,1201 At 31 December 2024 410,092 2.087.797 197.382 7,730 136.720 2.839,721 Depreciation and Impalrment At l January 2024 Depreciation charged in the year Eliminated in respect of disposals 101,854 220,936 149,905 7,180 95,422 575,297 6,561 82.663 7.122 183 8,783 105,312 18,0111 18,011) At 31 December 2024 108.415 303.599 157,027 7.363 96.194 672.598 Carrylng amount At 31 December 2024 301,677 1.784,198 40.355 367 40,526 2,167,123 At 31 December 2023 308,238 1.845.636 47.477 31.328 2.232.679 15 Flxed asset investments Li$te Other ltt¥estments investments Total Cost or valuation At l January 2024 Additions Valuation changes Disposals 4.044,304 616,426 217,460 (853.2371 4,044.305 616,426 217,460 1853,2371 At 31 December 2024 4,024,953 4.024,954 Carrying amount At 31 December 2024 4,024.953 4.024.954 At 3L December 2023 4,044,304 4,044,305 26-
Sisters Of Charity Of Our Lady Of Evron Notes to the financial statements (continued) For the year ended 31 December 2024 IS Fixed asset investments (Contlnued) 2024 2023 Other investments comprise= Notes Investments in subsidiaries 25 The change in market value in the Statement of Financial Artivities relates to the General Fund. The charity holds L Sha of £1 in its wholly owned subsidiary New Brinnin9ton Limited, which is incorporated in the United Kingdom. These shaS are called up and unpaid. The compatby'5 purpose is to construct a residential property for the charity. to further its aim of caring for member5 of the Congregation. 16 Debtors 2024 2023 Amounts falling due within one year: Amounts owed by fellow group undertakings other debtDrs Prepaymenis and accrued income 28,126 22.895 14.438 24,237 L4,324 13,508 65.459 52,069 17 Flnance lease obligations Future minimum lease payments under finance leases= 2024 2023 Within one year Within two and five years 4,882 11,075 2,701 1,646 15.957 4,347 18 Creditors: amounts falllng due wlthin one year 2024 2023 r4otes Obligations under finance leases other taxation and social seoJrity Other creditors Accruèls ènd deferred income 17 4,882 76 2,701 1,177 7,497 30,436 7,928 36,738 49.624 41.811 27-
Sisters Of Charity Of Our Lady Of Evron Notes to the flnancial statements (continued) For the year ended 31 December 2024 19 Credltors: amounts falling due aftÈr rnore than one year 2024 2023 Notes Obligations under finance leases 17 11,075 1,646 20 Restricted funds The restricted funds of the charity comprise the unexpended balanS of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At l January 2024 Transfer5 At31 December 2024 Retirement Property Fund Prevlous year. At l January 2023 Transfers At31 December 2023 Sisters Retirement Property Fund 566.966 1566.966) 566,971 {566.966) Retirement Property Fund This restrirted fund consist5 of monies received specifically to be used lo build a sidential property to be used by the sisters in their retirement. 28-
Sisters Of Charity Of Our Lady Of Evron Notes to the financial statements {continued) For the year ended 31 December 2024 21 Unyestrirted funds The unrestricted funds of the charily comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestrirted funds by the trustee5 for specific purposes. At l January 2024 Incomin9 Resources resources expended Transfers Galn$ )nd losses At31 December 2024 General fund elirement Re5Erve Fund (designated) Care and Development Fund (designated) 2.299.852 L76.744 (622.823) 375,497 2,229,270 3,385.925 117.235 (29.1631 (145.597) 230,430 3,558,830 754,095 9,661 {229,900) 24,207 558.063 6,439,872 303.640 {651,9861 254.637 6.346.163 Previous year: At A January 2023 Encoming resources Resources expended Transfers Gains and lo$ses At31 Decemlyer 2023 General fund Retirement Reserve Fund (designated) Care and Development Fund Idesignèted) 1,869,515 198.901 1599.2331 831.970 11.3011 2.299,852 3.301.233 119,259 (26.480) 1129,6541 123,567 3,385,925 868.756 38.101 11.2181 (135.3501 116.194) 754,095 6,039,504 356.261 628,931 566,966 106,072 6.439,872 Care and Development Fund This is a designated fund comprising of investments set aside to generate income to assist with the care for the Sisters and enable thern to carry out their pastoral work and rninistry in the UK and e15ewhere. Retirement Reserve Fund This is a designated fund comprising of investments set aside to generate income to assist with the support of the Sisters in their tIreMer1t. 29-
Sisters Of Charity Of Our Lady Of Evron Notes to the flnanclal statements (continued) For the year ended 31 December 2024 22 Analysis ol net 055ets between funds Unrestrlcted Re$trict•d nds funds 2024 Total 1024 2024 At 31 December 2024: Tangible a55etS Investments Current assets/(liabilities) Long term liabilities 2.167.123 4.024,954 165.161 (11.0751 2,167,123 4,024,954 165,166 111,0751 6.346.163 6,346,168 Uthrestrlcted R¢stricted funds tunds 2023 2023 Total 2023 At 31 December 2023: Tangible assets Investments Current a5setsllliabilities) Long term liabilities 2,232,679 4.044,305 164.534 (1.6461 2,232,679 4,044.305 164,539 11,6461 6,439,872 6.439,877 23 Operating lease commStments Lessee At the reporiing end (Jate the charity had outstanding commitments for fvture minimum lease payments under non-cancellable operating leases, which fall due as follows- 2024 2023 Within one year Between two and five years io,o(K) LO,833 10,000 20,833 20,833 30,833 30-
Sisters Of Charity Of Our Lady Of Evron Notes to the financial statements (continued) For the year ended 31 December 2024 24 Related party transactions Included wlthin other edor5 is £7,645 (2023-. E7.281) owed to a Sister at the year end which is being held for her. This is her patrimony and is included within restricted funds. As noted in the accounting lie5 the community accounts ère included within these financial statements. These expenses include minimutn levels of living costs for the Sisters who provide their time working to further the objertives of the Charity and donate their income to the Charity. Some of these Sisters are also trustees. Included within debtors is an amount due from New Brinnington mIted, a subsidiary company, of £28,126 (2023.. £24,237). 25 Subsidiaries These financial statements are separdte charity financial statements for New Brinninglon Limited. Details of the charity's subsidiaries at 31 December 2024 a as follows.. Name of undertaking Reglstered office Nature of business Class of shares held 0/0 Held Dirert Indire New Brinnin9ton Limited England & Wales Construction of residential Ordinary property LOO.00 On 7th October 2025, New Brinnington Limited was dissolved. 26 Vltimate controlling party The charity is controlled by the trustees in office. 27 Cash generated from operations 2024 2D23 Deficit for the year 193.408) 1165.2971 Adjustments for- Investment income Cognised in statement or rinancial attivhties Foreign exchange differences Gain on disposal of tangible fixed assets Gain on disposal of investments Fair value gain5 and 1055es on investments DepciatIOn and impairment of tangible fixed assets 1127,5951 (3011 {4421 137,4781 1217,460) 105.312 1158,9481 11,3011 12,6171 1104,7561 91,938 Movements in working capital: (Increase) in debtor5 Increase in creditor5 IL3,3901 5.632 110,768) 2,077 Cash absorbed by operations 1379.1301 (349.6721 31
Sisters Of Charity Of Our Lady Of Evron Notes to the flnanclal statements (contSnued) For the year ended 31 December 2024 28 Analy515 of changes In net funds At J J•ntsary 2024 Cash tlows New financ4 At 31 Dwembe leases 2024 Cash at bènk and in hand 154.28L 14.9501 149,331 Obligations under finance leases (4.347) 6.480 {18,0901 {15.9571 149,934 1,530 118.090) 133,374 32-