Chanty registrabon number. 255403 The Missionary Sisters of the Immaculate Annual Rgport and Finan?1 Stalernents for the Year Ended 310ecemiEr 2023 MG Group Professional Services Ltd Chartered Accoulltants & Registered Audit 166 College Road H3fTOW hliddlesex HA1 18H
The Missionary Sister8 of the Immaculate Contents Reference and Administralwe Details Trustees, Report 2to4 Statement of Trustees. Responsibilities Independent Examiners Report Stalernent of Financial Acts"vthes Balance Sheet Notes to the Finaneial StatefneTrts 91015 Detailed Statement of Financi31 Act4vIth'es 18to19
The Missionary Slsters of the Immaculate Reference and Administrative Dotai18 Tru$tees Sigler Annatnari3 Rosolin Sister Julli Thomas Sister Bigi Philip Koonamparal Sister Laura Valtora Prinripal Offlc• 10 Chiswick Lane London W4 2JE Charity Registratlon Number 255403 Indepgndent Examiner MG Group Professional Services Ltd Chartered Accountanis & Regisiered Audilofs 166 College Road Harrow Middlesex HA1 IBH Page 1
The Missionary Sisters of the Immaculate Trustees. Report The trustees present the 8llnual report logelher swth the finanei?I staternenls of the charity for the year ended 31 December 2023. Obyectlves Bnd octlwities Objects and alms The charit¢5 wain aim Is to support the religuS and other charitsble works Carried out by members of the ordei both In this country and overseas. The fijnding is mainly ty voluntary contnbutiuns and sUlUS from provision of nursery fa¢ililiÉs. Objèctiwos, strat•gl•s and aeiivlti•s The General Directson The General Direction. based in Rome. over5eÈs our whole congregation. It has been necessary lo travel aroun¢ the world to ci>ordinale the apostolic activities of all the organisations. Thanks for your support to sustain all the projects ol our Congregation in the various countries where we a present Dunn9 this year the General direction has visited several mission countries. Brézil, Bangladesh. Guinea Bis5gu. Cameroon-chad and India lo learn about the réality of those countries and lo give moral support guidelines and encouragement lo the sisters working in the challenging missions. With your conthbulions, we have able to fi'nance the maintenance ol the three bor8ding's In Hyderabad, Siliguri and BanglaiJe5h lor poor childrèn who have no opportunity lo study due to povety and the lack ol development In the villages. Today's children are TommorroW5 future lead8rs. So. théy ale happy and interested Its study and parents are also grateful for your help for their ¢hildren In the Integral development of the womien project in Guinea Bissau we work rnestty with women because the country depends on the will power ol the women. So, we focus on their integral lomiation to develop their own mentaility to grèw in the society and be the Instrurnenl lo help others to grow. An Alria¢an proverb says. 'If you educate a boy you only educate him. but if you educate the girl you educate the entire village in which she belongs,. so. we edycate the wornen, teaGh them different works through which they can support their family, give thern the moral and heahh c8re formaitons. et¢ Also the project In Papua New Guinea ' promobon of woman sewing ntre In Kerema ' has been training rnany women and girts to learn an(J the role of self-suffi¢ient and responsible person in the society. Thank you for sustaining the natural mediciiie" PTOj¢Ct through whth we could train the people to prepare medi¢ine a5 well as help the PDor and sick. We hav? a gioup of ppople who work in ihe nabjral tnediEine Centre. where we piopare th8 vanous medicine for the different Illn2ssès. Especially like, skin deceases. for the haèThogloi*n, ulcers. typhoid and malana etc In th6 Intemaiional noviate wè have eight novices frotn Papua New Guinea. India and Bangladesh. Our novices have diffellt spiritual and hurnan formation courses which would hèlp them lo prepare themselves In all the level to lace the challenge5 of the society to help the poo¢ and needy in the society They also participate in different missbon activity. The formabon course fund was ol great help for formation of the General directson in preparation for the General chapter ol our congregabon. Page 2
The Missionary Sisters of the Imma¢ulats Trustees, Report GUINEA BISSAU The Projed of Natural Medicine The Integral Development ol Women Projects for the 8oarding MaintenanGe Projects for the Boarding M31nten3nce Projects for the Boarding Maintenanc GENERAL DIRECTION Travel Expensive Fom)alion Course VIJAYAWADA Sl. Mary Leprosy Centre GENERAL DIRECMON Intematsonal novitl8te PAPUA NEVI GUIN Sewing workshops for women Development £10,000 £8.000 £20,000 £20,000 £20,000 £20,000 £30.000 BANGLADESH SILIGURI HYDERABAD £10.000 £20.000 £8,000 PR CTS- 2024 WE WANT TO CONTINUE: GUINEA BISSAU The Pioiecl of Natural Medicinè The Integral Oevelopmenl of Women Projects for the Boarding maintenance Projects for the Boarding maintenance Pioieets for the Boarding mairntenance GENERAL DIRECTION Formakn'on Course Travel Expensive VIJAYAWADA St. Maryleprosy Centr¢ GENERAL DIRECTION lnleranats.onal nowliate PAPUA NEW GUINA Sewing workshops for women Development £10.000 £8,000 £20.000 £20.000 0,000 £50,000 £20.000 £10,000 £20.000 £8,000 BANGLADESH SILIGURI HYDERABAD Public bonoflt The trustees confirm that they have complied with the requirements of seElion 11 ol Ihe Chanties Act 2011 lo have due reg31d l() the public benefit guidan published by the Charity Commis510n for England and Wales. A¢hl¢vèrngnts and pgrfomiancB The Charity considers that Il satisfectority acheived its obiecbves and aims during the year an anticipates the sarne In the forthcoming ye5r. Page 3
The Missionary Sistsrs of the Immaculate Trustees. Report Financlal rpvlew The Income for the year totalled £257,641 01 which £NIL wa5 restricted funds12022 ." £252.010 of which £NIL was $tricted fvndsl and after dedueting expen5e5 01 £284,833 of which £NIL was from restricted funds 12022 £290,721 of which £NIL was from iestricled funds) the Charity had a net deficit of £27,19212022 . £38.7111. Policy on res•tv•s The Irusiees are satisfied with the finanual position. Reserves s al a level which is considered suffrcieni for the charity lo fulfil Its obligations for at least six months. Structure, governanee and maftagèment Natur• of 9overnlng document The Charity Is registered ès the Misstonary Sister5 of the Immaculate and is also known as Regina Pacig Convent The charty Is eontrolled by Its governing document. a deed of trust dated 5th February 1968. Rgcwitm•ntandappointment of trustoes Were there to be a requirement for new trustees, these W10 be idtrntified and appointed by the mother house In Ita. The new trustees would be made aware of their rÈsponsibilitses, the govèrning document, adminislralive procedu5, the history and the approach of the charity. Organisatlonal stmcture The chaiity has four trustees. responsible for the day lo day running of the convent. M41or risks and management olthose rlsks The tiustee5 have a duty to idantify and rèview the risks to whith the charity is exposed and lo ensure appropriate contro15 are In place to provide reasonable assurance against fraud an¢ error. The Trustees have conducted their own review of the rnajor r15ks to which the Charity Is exposed and systems have been established to Mgate Ih05e risks. These systern5 are pefiodically reviewed to ensure that they still meet the needs of the Chanty. behalf by.. <1. and signed on ils Sister Julli Thomas Trustee Page 4
Tho Missionary Sisters of the Immaculats ststement of Trustees, Responsibllitie5 The truslees are respon51ble for preparing the trustees, report and the financial statements In accordan with the United Kingdom Accounting Standard5 (United Kingdom Generally Accepted AccourFting Practice) and applble Law and regulations. The law applicable to charities requires the Iruslees to prepare financial stalernenls for each finaneial ye8r which giv8 a true and lair view of the slate of affairs ol the charity and ol the Incoming resources and application of resources of thè chafty for that period. In preparing these finanaal 5taterneTrls, the trustees are Tequirtd tts-. select suitable accounting polic4es and Ih$n apply them ConStently., observe the methods and principles In the Charitie5 SORP, ake judgements and ests'mates that are reasonable and pru¢Jenl". state whether applicable acGoynts"ng standards have been follcwed. subject lo any material departures disclosed and explained In the financial statements., and prep8rÈ the financia5 statements on the going concem basis unless it is inappropnale lo presume that the charily will continue In bsJslne. The trustees are responsible for keeping proper accounting records that di%10se with reasonable accuracy at any time the financial position of the ¢harity and enable thern to ensure that the financial Statements comply with th Charities Act 2011. the applicable Charit$ (Aceounts and Reports) Regulations, and the provisions of the constitution. The trustees ar8 also responsible for safeguarding the assets ol the chanty and hence lor takin9 reasonable steps for the prevention aniJ detect of fraud and other Irregularilie5. Approved by the Iruslees of the charity on211 /24. and signad on its bè3 by. Sister Jul1 ThorTTras Trustee Page 5
The Misslonary Sisters of the Immaculate Indepèndent Examiner's Report to the tmstees of The Missionary Sisters of the Immaculate I report to the charity trustees on my exarninalron ol the acunt of the charity for the year ended 31 December 2023 whirh are set out on pa9es 7 to 15. Re$pe¢tiv• respon8lblllli88 of tru8t•es and examinbr As the cha¥ity's trustees ol The Missionary Sisters of the Imrnacul8te you are responsible for the PFepar8tion of the account5 in accordance with the requirements of the Charits'es Act 20111'the Act'i. I report in respect of my examination of thè The M15sionary Sisters of the Immaculate's accounts carried out under se¢lion 145 Df the 2011 Act and In carrying out my examination I have followed all the spplic3ble Directions given by the Charity Commission vnder Section 14515llbl of the A¢t. Ind8pendeni exan7iner's *tat•ment Since The M15sionary Sisters of the Immacula(e's gross income exceèded £250,000 your examiner must be a member of a body listed In section 145 01 the 2011 Act. I confiim that l am qualified lo undertake the examination beeatsse l am a rnembei of , which f5 one ol the listed bodi&s. I have completed my examination I confirm that no matenal matte15 have eome to my 8ttentA)n in connection with the examinabon giving me cause to believe that in any material respect 1 accounting records were not kept in respect of The Missionary Sisters of the Immaculate a5 required by section 130 of the Act., or 2. the accounts do not accord with thos6 record5, Of 3. the acGount5 do not Gomply with the a¢counling iequiren7ent5 concerning the lorrn and content of accounts sel out in the Charities (Accounts and Reports) Re9ulalions 2008 other than any requirement that the accounts give a 'irue and fair vievl which Is not a matter considered as part of an iTrdependent examination I have no concems and have come across no other matters in connection with the examinalion lo which attention should be drawn in th15 report in arder lo enable 8 proper understanding of the acwun15 to be rèached. Gavin Fer des FCA Chartered Accountants & Registered Auditors 166 College Road Harrow Midcllesex HAI 1BH Page 6
The Missionary Sisters of the Immaculate Statement of Financial Activlties for the Year Ended 31 December 2023 Unrestricted funds Restricted funds Total 2023 Not¢ Income and Endowm•nts from: Donations and legacie5 Other trading activities Investment income 71,427 183.797 2.417 71.427 183,797 2,417 Total income 257 641 257,641 Expenditure on: Raising lund5 Charrtable acti¥ilies 18,0511 276,782 18.0511 276,782 Total expenditure Net expenditure Gross transfers between funds Net movement in funds Reconciliation of fund5 Totsl funds brought forward Total funds carried forward 284.833 284,833 127,1921 127,1921 1.000 126.1921 11,0001 127,1921 148.6Q4 1.000 149,604 13 122,412 122,412 Unrs$trided funds Rèstricted funds Total 2022 Notè Income and Endowments Irom: Oonations and legaaes Other trading actsvilies Investment 1ncome 89.786 161,725 499 89,786 161,725 499 Total Income 252,010 252,010 Expenditure on- Raisin9 funds Charrtabl8 a¢livitie5 110.2061 2BO.515 110,2061 280.515 Total expenditurè 290,721 1290,721 Net movement in ftJnd5 Reconciliation of fund5 Total fvnds brotjghl Iotward Total fvnds carned forward 138,7111 138.7111 187,315 1,000 188.315 13 148,604 1.000 149.604 All ol the charity's activities dèrive from ccin)nuing operations during the above 40 periods. The fund5 breakdown for 2022 shown In note 13. Pag8 7
The Missionary Sistsrs of tho Immaculate (Règistration number.. 25S403) Balance Sh881 as at 31 December 2023 2023 2022 Not• Current a55ets Cash at bank and in hand 124.812 152.750 Creditors: Amounts falling due wlthln one year Net assets 12 12,40D 3.146 122.412 149,604 Funds of the charity= Re5trlct•d funds 1,000 Unre5tri¢ted ineome funds Unrestricted fvnds 122.412 148.604 Total funds 122,412 149.604 The fina cial statements on page5 7 to 15 were approved by thè Iru$lees, and authoiised for Issue on 24 and signed on their behalf by.. Sister Julli Thomas Tiustee Page 8
The Missionary Sisters of tho Immaculate Notes to the Financial Statements for the Year Ended 31 Decembèr 2023 1 Accounling pollcl8s Statement of complian¢0 The financial stslemenls have been prepared in accordanee with Accounting and Repttrting by Charitie5' Statement of Recommended Practice applicable to charit5es prepanng their accounts in accordan with the Financial Reporting Standard applicable in th8 UK and Republic of Ireland IFRS 1021 (effective 1 January 20191- ICharits"es SORP IFRS 10211, Ihe Financ1 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. Basis of prèparatlon The Missionary Sisters of the Itnmaculatè rneets the definityon ol a puL4ic benefit entity under FRS 102 Assets and liabilities are 1nib.alty rècognised at histon¢al c05t or transaction value unless oiherwise stated in the ¥elevant accountsng policy note5. Ex•mptlon from preparfng a eaFh flow siatoment The charity opted to earfy adopt Bulletin 1 published on 2 February 2016 and have thelOre not Included a cash ffow ststent In these financrdl st3temènts. Going ¢one•m The trustees corFsider that there arè no material uncertaintis about the charitys ability to continue as goin9 concern Income and •ndowments Voluntary Ineorne Including donations. gifts. legacies and grants that provide core funding or are of general naiuie Is CogniSed when the chaniy has entitlement to the Income. It is probable Ihal the income will be recetved and the amount can be measured with 5uffrient relbIlity. Grants receivable Grants are recognised when the charity has an entidement to the funds and any conditions linked lo thè grants have been m&t Where performance Conditions are attached to the grant and are yel lo be mel. the Income is recognised as a liability and included on the balanee sheet as deferred Income to be released. Expenditure All expenditure Is recognisèd onee there 15 a legal or constructive oblyation to that expenditure. it is piobable setttemenl is required and the amount can be rneasured reliably. All costs aro allocated to the applicable expenditurp heading that aggregate similar costs to th3l category. Where costs cannot be diiectly attributed to particular headings thèy ttava bèen allocated ofi a basis consistent with the use ol iesources. with central staff c051s alloG31gd on the ba515 of lime spent, and deprecIatll charges allocated on the portion of the asset'5 use. Other support costs are allocated based on the Spad of staff costs. Raising funds These a costs IncUe In attracting voluntary income, the management of invstments and those incurred in trading 2Ctivitses that raisè funds. Page 9
The Missionary Sisters of the Immaculale Notes to the Financial Statements for the Year Ended 31 December 2023 Charliable actlvlties Charitable expenditure compnses those costs incuried by the charity in Ihe delivery of its activitie5 and services for Ils benefiGiaries. 11 Includes both ¢osls that can be allocated direcuy to such activities and those c0515 of 8n IndI¢t nature necessary lo support thern. Govgrnance c¢)sts These ineJudÈ the costs altributable to the charty's complian¢e with consb'tub'onal and statutory requ1remenls. induding audit. strategic management and tN51ees's rneengs and reirnbursed expenses. Govèrnmènt grants Government grants a Tecognised based on th8 accrual model and are measured at the fair value of the asset received or receivatlÈ. Grants are Classified as relatiNg either to revenue or to assets. Grants relating to revenue are recognised In incotne over the period In which Ihè rèlated costs are recognisèd Grants relating lo assets are recognised over the expecte¢J useful life ol the asset. Where part of a grant relating to an asset is deferred, it Is recognised as deferyed ir¢come. Taxation The cherity Is considered to pass tre tests set out In Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it rneets the definition ol a chantab1e company lor UK corporalion tax Purposes. Accordingly the chanty Is potentially exempl from taxation in respect ol Income or capital gains received within c3t8gories covered by Chapter 3 Part 11 01 the Corporalion Tax Act 2010 or Section 256 01 the Taxabon of Chargeable Gains Act 1992. to ltte extent that such 1ncome or gain5 ale applied èxcluswety lo charitable purposes. Cash and cash equlvalentB Cash and cash equivalents comprise cash on hand and call deposiis, and other short-term highly liquid Investments that ale readily convertible to a known amount of cash and are subject to an Insignificant 115k of ¢hange In value. Fund structure Unreslrbcled Income funds are general fund5 ihal are available for use at the trustees's discretion in furtherance ol the obje¢tive5 of the charity. Restncted Income funds are those donated for use in a paitculaf area or for specifK purposes. the use of whiGh 15 restncted to that area or PUfPOSe. Pensions and other posl T•rement obllgations The charity operates a defined contribution pen51on scheme which is a pension plan under which fixed contnbulions are paid Into a pension fund and thè charity has no legal or cornstructive obligation to pay further ¢ontnbutions even Il the fund doès not hold sufficient assets to pay all employees the benefits relating to employee sewice in the current and prior penods. Contributions lo defined contribution plans ale recogn15eLI In the Statement of Financia1 ActivitS when they are due If contribution paymen15 exceed the contribution due for service. the excess is recognised as a prèpayment. Page 10
The Missionary Sisters of the Immaculate Notes to the Financial Statements for the Year Ended 31 Decembor2023 2 In¢ome from donatlons and legacles Unrestrict•d fund6 Total 2023 Total 2022 Gen¥ral Grants. induding capital grants", Government grant5 71,427 71,427 89.786 71,427 71,427 89,786 3 Income from othèr trading a¢tivrtl•s Unrestricted fund¥ Tot41 2023 Total 2022 General Trading income.. Nursery feE5 183.797 183,797 183,797 161,725 783.797 161.725 4 Inv•6tment in¢om• Unrestrftttd funds Total 2023 rotsl 2022 General Interest receivable anLI similar income.. Intest receivable on bank deposits 2,417 2,417 499 5 Charitable actlvities Total 2023 Total 2022 Charitable donabons GDvemance costs Staff costs 166,620 63,740 47,422 184 275 54.034 42.206 277.782 280 515 Page 11
The Missionary Sisters of the Imma¢ulats Notes to the Financial Statements for the Year Ended 31 Decembor 2023 6 Charltablo Donations The Chartlable Donations were paid to diffeienl Institutrons. to be used in carying out suppothng activrties lor poor children lo help them to study and to gain a good future. Even fvnds were provided for the development of w¢rnen. Listed below ale amounts paid lo different Institubons. 2023 2022 Boarding maintenance- Hyderbad Project to Guir>e3 Bissau Travel Expense Rome Intemational Novitiale Rome Lenten ProJect Boarding maintenance- Bangladash Project to Kererna Leprosy Centre- Vii8yawada Foimalion Coutse - Rome Boaroing maintenance Siliguii Natural Medicine G Bissau Integral Dev of women Guinea Bissau Vvomen Sewing centrè PNG 20,000 40.000 8,000 20,000 20.000 250 20,0(10 8,000 10.000 20,000 18,000 12.000 8.025 20,000 20,000 200 20.000 10,000 30.000 20.000 10,000 8.420 8.000 166,620 184,275 7 Governance costs Unrestricted funds Total 2023 Total 2022 General lTrdepen¢Jenl examiner fees Examination of the financial Statements Leg81 fees Other governance costs 2.400 3.729 56.611 2,400 3,729 56.611 2,400 14 107 37,527 62,740 62.740 54,034 8 Trustees rèmuneratlon and gxpens8S During the ygar the charily made the following transactions with Iruslees Sister Julll Thomas Sister Juli received £1,000 from the Charty for her health treatmÈnt. No Irustees. nor any persons connected with them, have received any remuneration from ihe charity during the year. Pgge 12
The Missionary Sisters of the Immoculate Nots¥ to the Financlal Statements for the Year Ended 31 DeGernber 2023 Nu truste&$ have recÉived any reimbursed exp8nse8 from the tharity during the year. 9 Staff costs Thè aggregaté payroll costs were as fr)Ilows". 2023 2022 Stoff costs during Ihe year were= Wages and salaries Staff NIC Pengon costs 46.673 38.162 3,604 440 749 47,422 42,206 The monthly avera9e number of persons lincluding senior management leaml employed by the charity rluring the year expressed as full time equivalents was as lollows.. 2023 No 2022 Nts Total employees No employee received emoluments ol more than £60.000 dunng the year 10 Independent examiner'$ remuneratlon 2023 2022 Examination of the financial statetr*nts 2.400 2,400 11 Taxation The eharily is a registered chanty and is therefore exempl frorn tsxalion. 12 Credltors: amounts falling due withln one y•ar 2023 2022 Olher taxahon and social security Other creditors Accruals 553 193 2.400 2,400 2,400 3.148 Page 13
The Missionary Sistsrs of the Imma¢ulats Notss to the Financial Statements for the Year Ended 31 Doeember 2023 13 Funds Balance at 1 January 2023 Balance at 31 December 2023 Incomlng R¢8our¢es re$ource$ •xpended Transfer8 Unrestricted funds General 1146,6041 1257.6411 1.000 284,833 Restrictod funds 11,0001 1122,4121 1,000 Totsl fund¥ 149,604 1257,641 284 833 122,4121 Balance at 1 Jonuary 2022 Incoming resource$ Balance at 31 December 2022 Resources expended Un¥estrict•d fultds General 1187,3151 1,000 1252.0101 Restricted funds 290.721 1148.6041 11,000 Total fund5 168.315 252,0101 290.721 1149,604 Pagt 14
The Missionary Sistsrs of the Immaculate Notes to the Financial Statements for tha Year Ended 31 December 2023 14 Analys1$ of n•t asstts batr*n funds Unrostri¢ted funds General Total funds Current assets Current liabilities 124.812 12,400 124.612 12.400 Ttstal net assets 122.412 122.412 Unrestricted funds GenorAI Total funds Current assets Current liabilrties 152.750 3.146 152.750 3,146 Total fiel assets 149.604 149.604 15 Analysi5 of nèt funds A131 D•c•mber 2023 At 1 January 2023 Cash flow Cash at bank and In hand 152.750 127,9381 124.812 Nel debt 152,750 127,9381 124,812 At31 Doctmr 2022 At l January 2022 Cash flow Cash al bank and In hand 190,785 138.0351 152,750 Nel debl 190,785 138,0351 152.750 Page 15