2020-12-31-accounts - The Sisters Of The Infant Jesus (Nicolas Barre) General Trust

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Acts of General Chapter 2019 - 2025

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRÉ) GENERAL TRUST

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

Registered Charity Number 272581

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRE) GENERAL TRUST

PROVINCE ACCOUNTS - ENGLAND

INDEX	Page
Report of the Trustees	1 - 14
Auditor’s Report	15 - 17
Statement of Financial Activities	18
Balance Sheet	19
Accounting Policies	20 – 21
Notes to the Financial Statements	22 – 24

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRÉ) GENERAL TRUST

PROVINCE ACCOUNTS - ENGLAND

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

LEGAL AND ADMINISTRATIVE DETAILS

TRUSTEES	Kathleen Mary Ellard (Province Leader) until 8thDecember 2020
	Marie Pitcher (Province Leader) from 8thDecember 2020
	Patricia Jo Armato – until 8thDecember 2020
	Rosemary Barter
	Margaret Walsh – from 8thDecember 2020
FINANCIAL ADMINISTRATOR	Brendan Carrigy FCCA – until 8thDecember 2020
	Noreen Morris ACCA – from 8thDecember 2020
REGISTERED OFFICE	16 East Acton Lane
	London
	W3 7EG
CHARITY REGISTRATION NUMBER	272581
INVESTMENT POWERS	There are no restrictions on the Trustees’ powers of investment.
GOVERNING INSTRUMENT	Trust Deed dated 20 March 1975
AUDITOR	Haysmacintyre LLP
	Chartered Accountants and
	registered Auditors
	10 Queen Street Place
	London
	EC4R 1AG
SOLICITOR	Wedlake Bell LLP
	52 Bedford Row
	London
	WC1R 4LR
PRINCIPAL BANKER	HSBC
	69 Pall Mall
	London SW1Y 5EY
INVESTMENT BANKER	Sarasin & Partners LLP
	Juxon House
	100 St Paul’s Churchyard
	London
	EC4M 8BU

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRÉ) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

REPORT OF THE TRUSTEES (continued)

The Trustees present their report and the audited financial statements for the year ended 31 December 2020. These have been prepared under the provision of the Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective 1 January 2019) and comply with all statutory requirements and the charity's governing document.

STRUCTURE, GOVERNANCE AND MANAGEMENT

CONSTITUTION

The Institute of the Sisters of the Infant Jesus (Nicolas Barré) is an International Roman Catholic Religious Order. The Congregation comprises of 8 Provinces : England/Ireland, France, Italy, Spain, Japan, Malaysia, Singapore and Thailand), 3 Vice Provinces: Cameroon, Nigeria and Peru and 3 Districts : Bolivia, Czech Republic and Myanmar.

These accounts cover the English Province of the Order which is governed by a Trust Deed dated 20 March 1975. The Trust is registered with the Charity Commission, Registration Number 272581.

TRUSTEES

The Trustees who served in the year and up to the date the accounts were approved were as follows:

Kathleen Mary Ellard (Province Leader) until 8[th] December 2020 Marie Pitcher (Province Leader) from 8[th] December 2020 Patricia Jo Armato – until 8[th] December 2020 Rosemary Barter Margaret Walsh – from 8[th] December 2020

RECRUITMENT, TRAINING AND INDUCTION OF TRUSTEES

The Trustees are appointed by the Congregational Leader for three years which can be renewed.

The Province itself is administered by the Province Leader, her team (who are Trustees) and the local animators.

The Trustees are kept informed on Charity Sector issues by Professional Advisors, Fact Sheets, Newsletters from our Auditors and Legal Advisors and by attending Training Workshops and Conferences.

The Province Leader attends the Charity Conference and furnishes the Trustees with information on relevant issues.

LEGAL AND ADMINISTRATIVE INFORMATION

The Provincial Office, principal bankers and advisors are as shown on page 1.

Brendan Carrigy FCCA (Retired, 8[th] December 2020) and Noreen Morris ACCA (Appointed 8[th] December 2020), Financial Administrator, carries out the work of the Provincial Bursar, in close liaison with the Provincial Leader and her team.

RISK REVIEW

The Trustees continue to work on assessing the main risks to which the charity is exposed, in particular those relating to specific operational areas of the charity, its investments and its finances. The Trustees believe that by monitoring reserve levels, by ensuring controls exist over financial systems and by examining the operational and business risks faced by the charity, it has established effective systems to mitigate those risks. These systems are frequently reviewed with a view to possible updates and improvements.

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRÉ) GENERAL TRUST

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REPORT OF THE TRUSTEES (continued)

The key risks for the Charity identified by the Trustees are described below together with the principal ways in which they are mitigated:

Loss of key personnel
Income sources
Loss of reputation

Loss of key personnel:

The Province Leader and Financial Administrator hold much of the information which is shared with the Provincial Team. If there was an emergency our Auditors (Haysmacintyre LLP), Insurers (D E Ford) and Investment Managers (Sarasin) are familiar with our processes. However, we are also aware that our diminishing numbers and increasing age profile cause concern for the future and the Congregation at General Level is putting in place plans to cope with this evolving scenario.

Income sources:

All the sisters are now of retirement age although no one is ‘retired’. Income is limited and so we will increasingly have to depend on our investments. Good budgeting and accountability is encouraged and monitored to make the most of our resources for the good of all.

Loss of reputation:

The impact of the far reaching inquiry into child sexual abuse in England and Wales has an effect on all Religious and members of the Catholic Church in England and Wales. There are also financial implications with regard to the running costs which will require contributions from all Congregations. We are members of COR (Conference of Religious of England and Wales) and also subscribe to CSAS (Catholic Safeguarding Advisory Service). This keeps us well informed of steps we need to take in relation to safeguarding generally (One Church Approach) and in particular in relation to the Inquiry.

PUBLIC BENEFIT

The Trustees confirm that they have given due consideration to the Charity Commission’s general guidance on public benefit. These requirements are addressed in this report.

OBJECTIVES AND POLICIES

The general objectives of the Order are for “such charitable purposes which advance the religious and other charitable work for the time being carried on in England and Wales or elsewhere by or under the direction or with the support of the Congregation as the Trustees shall from time to time think fit and with the approval of the Province Leader”.

There have been no changes to the objectives during the year.

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRÉ) GENERAL TRUST

PROVINCE ACCOUNTS - ENGLAND

REPORT OF THE TRUSTEES (continued)

PRINCIPAL ACTIVITIES AND AIMS

Sadly, many of the activities we are involved in have been impeded by the global pandemic. We had to adapt and change in order to work more effectively during the restrictions due to the Corona Virus. Zoom and other forms of electronic ways of meeting have increasingly been used. We look forward to continuing the following activities in whatever way will be possible and with adaptations where necessary.

The Institute of the Sisters of the Infant Jesus (Nicolas Barré) aims to advance religious and other charitable work or purposes connected with the advancement of the development of all based on the Roman Catholic Tradition as the Trustees shall decide.

7 Sisters and a visiting Sister are pictured here (Birmingham) with our Congregation Leader.

There were 7 Sisters resident in England. They live their mission in Liverpool, Wolverhampton, Birmingham, London, Crawley and Horsham.

The charitable works fall under the following main headings:

1. Education

One Sister continues to be involved in two Primary Schools in the State sector.

London : Following 41 years of teaching one sister is now a full time Governor at a multicultural School in West

London and also is a volunteer at another School. Her experience and expertise is a great resource for both Schools. She gives ‘booster’ sessions with the pupils to support the work of raising standards in Maths and English. She continues to be involved in sports training.

Our work in education is closely linked with the Charism of the Infant Jesus Sisters: “To foster the growth of all people in the Image of God” keeping in mind ‘We must not look for cherries on a plum tree – so it is with people’ (Nicolas Barré) as each is created uniquely. This charism is

lived as much outside of the classroom as well as in it especially in the building of community wherever we are.

Liverpool:

One sister having retired from formal education continues to support the children in the school where she taught and especially those who are in need of extra tuition.

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRÉ) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

REPORT OF THE TRUSTEES (continued)

2. Parish Ministry/Human and Spiritual Development

One sister is involved full time and several others are involved part time in various parts of the country in Parish Ministry and are members of the Parish Teams. Their work is very varied but is in accordance with our Founding Spirit – “That all people may come to know and love God revealed in Jesus Christ and to share this life”. Their roles include:

Sacramental preparation and training of Catechists including the running of programmes for adults who would like to become members of the Catholic Church.
Visiting the sick and housebound, hospital Chaplaincy.
Enabling and empowering people to take responsibility for running prayer groups, parenting groups and support of young mothers.
Meeting and working with Ministers of other churches – developing the Ecumenical aspect of “Churches Together”.
Meeting and working together with Ministers of other Faith traditions. ‘Interfaith’ projects.
One sister is very involved in managing an International Solidarity Fund as volunteer Bursar.
One sister is very involved with the Travelling Community – supporting and encouraging them.
Another sister works as a volunteer for “Childline”.
One sister is a volunteer with Marie Curie.
▪ All are involved in promoting and living a more sustainable lifestyle along with care for the environment.

3. Volunteering in Local and National Projects

The sister (front row right) who is a volunteer with Marie Curie explains what the ‘Helpers’ offer:

Companionship and emotional support – a friendly ear.
Practical help eg taking someone to an appointment or to sit in the park.
A break for family or carer allowing them free time to rest or shop etc.
Providing information on other support and services as well as religious support if requested.

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRÉ) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

REPORT OF THE TRUSTEES (continued)

3. Volunteering in Local and National Projects (continued)

My mobile phone was very useful when my last “client” wanted reflections and songs for her funeral. As we sang along with Youtube some of the sadness and pain was eased.
We get a lot of training with regard to preparing for End of Life and Bereavement.
After the death we are available to family member/carer for a 3 month period for help with bereavement.
As we work out in the community we are issued with Lone Buddy phones so we report our movements and are monitored by Communicare.

During the year one of the sisters is a trained volunteer with FAIRTRADE. Her involvement is in line with so many of the values we try to promote. Fairtrade is essentially about better prices, decent working conditions, local sustainability, and fair terms of trade for farmers and workers in the developing world. By requiring companies to pay sustainable prices (which must never fall lower than the market price), Fairtrade addresses the injustices of conventional trade, which traditionally discriminates against the poorest, weakest producers. It enables them to improve their position and have more control over their lives. The relationships between volunteers and with the general public supports much more than this as it too becomes a community of support for diverse people. This Sister now lives in Sheltered Accommodation and as a ‘younger’ resident is a great support to other residents there.

The local MP visiting the Fair Traid Shop in Wolverhampton

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRÉ) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

REPORT OF THE TRUSTEES (continued)

4. Family and Children’s Centres

A. Hope Family Centre , Heath Town Estate, Wolverhampton. Registered Charity 1139362 http://hopecommunityproject.org.uk/

This is a partnership between the Infant Jesus Sisters, Fr. Hudson’s Society (the social Care Agency of Birmingham Archdiocese) and St. Patrick’s parish in Wolverhampton.

The aim of this project is to empower local people so that they can use their potential for a better life for themselves, their families and the local community.

Project activities include:

Outreach for older people and telephone support for older people who are isolated;
Support and opportunities to promote independent living;
Facilitation of youth groups, workshops and structured information sessions for children and young people;
Support for young people at risk of exclusion, and activities for children outside school hours and during school holidays;
Support group for families experiencing difficulties;
One-to-one and group support for women experiencing relationship difficulties and isolation;
Door-knocking and home visiting service;
Classes in English for Speakers of Other Languages (individual and group sessions);
Volunteering opportunities for people from the local community.

‘WELCOMING THE STRANGER’ – ESOL (English for Speakers of Other Languages)

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRÉ) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

REPORT OF THE TRUSTEES (continued)

B. Brushstrokes http://www.brushstrokessandwell.org.uk/ A Joint Project IJ Sisters Charity No 272581 Father Hudson’s Society Charity No 512992 and St Philip Neri Parish Charity No 234216

This project is located in Smethwick, West Midlands and is a partnership between the local Parish of St. Philip Neri, Fr. Hudson’s Society (see above) and the Infant Jesus Sisters. Brushstrokes reaches out to those whose dignity has been disregarded and those who are the most forgotten and invisible people in the neighbourhood. As well as visiting people in their homes, and networking with local agencies, Brushstrokes provides a range of activities for the local families, most of whom are refugees and asylum seekers. The focus of the ministry is on families seeking refuge in this country, it has a strong multi-faith dimension. They have successfully moved

to new premises this year.

C.Wormwood Scrubs Pony Centre, London www.wormwoodscrubsponycentre.org Registered Charity 1045045

One sister is manager of the Pony Centre which offers equine therapy and developmental programmes for children and young people. There is special emphasis on those who are underprivileged or have special needs including physical and learning disabilities.

The Centre aims to improve the quality of life for all involved, giving many opportunities to both children and volunteers which can enable them to grow towards their full potential. This Sister has received the HRH Princess Royal President’s Award in recognition for the work done with disabled children.

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HRH Princess Anne discussing the childrens’ work with them prior to presenting certificates and badges for Stable Yard Emergency Drills including Stable Yard Fire Drill, CPR and defibrillation demonstration, riding accident scenario and Stop, Drop, Roll display.

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRÉ) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

REPORT OF THE TRUSTEES (continued)

Martin Clunes is Patron of the Wormwood Scrubs Pony Centre. Here he is presenting Sister Mary Joy with the British Horse Society Riding Establishments Approval Award at the BHS Awards ceremony Saddlers Hall.

Clare Balding opens the Therapy Stable Yard Classroom.

One of the particular challenges which began last year has been the support given by the Pony Centre in the continuing aftermath of the Grenfell Tower fire. Children who were traumatised have received therapy at the Centre and parents have been supported. The work continues….

D.St. Chad’s Sanctuary Birmingham www.stchadssanctuary.com Registered Charity No. 1146151

One sister has set up a centre in Birmingham for refugees and asylum seekers. This is a project supported by St. Chad’s cathedral and the Salvation Army. Here people receive support and advice. English and computer classes are also available.

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRÉ) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

REPORT OF THE TRUSTEES (continued)

Volunteers and visitors to The Sanctuary come from all over the world

Donations of food, clothing and personal hygiene items, given to the centre are distributed to those in need.

Learning English

OVERSEAS

Nigeria

Three sisters are working in Nigeria. Their main thrust is on the education and formation of young people and adults where illiteracy and/or inadequate schooling are overlooked. Women who yearn for basic respect and dignity are supported and enabled to believe in themselves. They also work with people who suffer with HIV Aids.

One sister is Principal of the local diocesan primary school .

Another two Sisters work with Refugees in Nigeria.

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRÉ) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

REPORT OF THE TRUSTEES (continued)

Cameroon

One sister is on mission in Cameroon working with the local sisters in the area of human and spiritual development. She also works for the promotion of women by forming and supporting womens' groups in the rural areas.

Czech Republic

We are delighted that the Czech Republic now has now achieved its individual identity within the Congregation as it

became a District in January 2017. One of our Sisters remains on mission there in order to support the infant District. Her ministry remains very much with the English speaking International Community. She is also involved along with the other sisters in education, formal and informal, in youth work and in personal accompaniment of groups and individuals. The community house is open to receive people who need rest or a quiet place to meet and to pray. This is an exciting and ever evolving project.

International English speaking community meeting Youth Outreach Programme Meeting

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRÉ) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

REPORT OF THE TRUSTEES (continued)

6. Ministry of Caring for the Elderly Sisters

The sisters endeavour to live as simply as they can in order to fund the care of our elderly sisters, many of whom served in Malaysia, Singapore, Thailand and Japan as well as in England in order to build up girls education. These sisters live in a small care community in Ireland.

Our former school in England was called St Maur’s. Located in Weybridge this is where girls were educated from 1899 until 1999 when the School became part of St George’s College in Weybridge. The site of the former St Maur’s Convent School now houses St George’s College Junior School where the mission to educate continues. The seed sown continues to flourish.

This is our heritage continued today by others. Here is a photo of one of the many Schools in Singapore followed by one of many in Malaysia.

Singapore

Kuala Lumpur, Malaysia

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRÉ) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

REPORT OF THE TRUSTEES (continued)

FINANCIAL REVIEW

The statement of financial activities on page 18 shows a small increase in income for the year to £270,854 from £269,604. Expenditure increased from £144,281 to £134,584 mainly due to a decrease of the Sister’s living and ministry expenses.

This resulted in net income of £136,270 in 2020 (2019: £125,323). There were gains on investments of £124,064 (2019: £269,690) which resulted in a net increase in funds of £260,334 (2019: £395,013).

INVESTMENT POWERS, POLICY AND PERFORMANCE

There are no restrictions on the Trustees’ powers of investment.

Investments in the year relate to Sisters Annuities for pensions and a portfolio held with Sarasin and Partners to which £1.5m was invested in November 2013 and a further £500k in February 2018. The Annuities were realised in 2019 for £62,117. The value of the investment portfolio at 31 December 2019 was £2,761,730 (2019: £2,575,064).

The trustees are satisfied with the performance in the year.

RESERVES POLICY

We need to ensure that there are funds available for the care of our elderly Sisters and for the on-going needs of ministry. The Order’s main centre for care St Joseph’s, Model Farm road, closed in March 2020 and the Sisters transferred to residential care, with the support of the Irish health service and the Order. The Sisters who are part of the communities in Ireland, including those in residential care have spent most of their working lives in England and are therefore part of the Charity. We are confident that the funds are used for this purpose. We are keeping in mind that the recommended amount needed in reserve for each Sister is in the region of £125,000, increasing to £225,000 if residential or nursing care is required. A review by the trustees indicated that an overall fund of approximately £2.25m would be required to provide in full for these commitments, based on the number of sisters resident in England and those on missions abroad who are part of the English Province. Currently reserves, excluding tangible fixed assets, stand at £3.35m. The level of required funding will continue to be kept under review and it is the intention to accumulate funds either through surplus income or property sale to ensure that, as far as possible, the charity can meet care costs as they arise.

PLANS FOR THE FUTURE

The intention is that the sisters will continue in their current ministries and their roles will be reviewed on a regular basis with a view to maximising benefit to the people they serve.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

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

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

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
▪ make judgements and estimates that are reasonable and prudent;

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRÉ) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

REPORT OF THE TRUSTEES (continued)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES (CONTINTUED)

state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that this basis applies.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and reports) Regulations 2008 and with the Trust Deed dated 20 March 1975. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on 7.10.2021 and signed as authorised on their behalf by:

…………………………………………..

Marie Pitcher Province Leader and Trustee

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRE) GENERAL TRUST

Opinion

We have audited the financial statements of The Sisters of the Infant Jesus (Nicolas Barre) General Trust for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the charity’s affairs as at 31 December 2020 and of the charity’s net movement in funds for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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

Matters on which we are required to report by exception

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

adequate accounting records have not been kept by the charity; or
sufficient accounting records have not been kept; or
the charity financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRE) GENERAL TRUST (continued)

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on pages 13 and 14, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor’s responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity and the sector in which it operates, we identified that the principal risks of noncompliance with laws and regulations is related to regulatory requirements of the Charity Commission, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011.

We evaluated management’s opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries and management bias in certain accounting estimates and judgements such as the income recognition policy. Audit procedures performed by the engagement team included:

Inspecting correspondence with appropriate regulators and tax authorities;
Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
Evaluating management’s controls designed to prevent and detect irregularities;
Review of minutes of meetings to identify instances of fraud;
Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and
Challenging assumptions and judgements made by management in their critical accounting estimates.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRE) GENERAL TRUST (continued)

Use of this report

This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s trustees as a body for our audit work, for this report, or for the opinions we have formed.

Haysmacintyre LLP Chartered Accountants 10 Queen Street Place Statutory Auditor London EC4R 1AG

Date: 13 October 2021

Haysmacintyre LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRE) GENERAL TRUST

PROVINCE ACCOUNTS - ENGLAND

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2020

		Unrestricted Funds	Unrestricted Funds
		Total	Total
		2020	2019
	Notes	£	£
INCOME FROM:
Donations and legacies	2	207,802	206,468
Investment income	3	63,052	63,136
		-----------------	-----------------
Total Income		270,854	269,604
		-----------------	-----------------
EXPENDITURE ON:
Investment manager fees		44	58
*Charitable Activities:*
Support of members and their ministry		134,540	144,223
		------------------	------------------
Total Expenditure	4	134,584	144,281
		------------------	------------------
NET INCOME BEFORE NET GAINS ON INVESTMENTS		136,270	125,323
Net gains on investments	7	124,064	269,690
		--------------------	--------------------
NET INCOME		260,334	395,013
		--------------------	--------------------
NET MOVEMENT IN FUNDS		260,334	395,013
Fund balances at 1 January 2020		3,707,171	3,312,158
		----------------------	----------------------
FUND BALANCES AT 31 DECEMBER 2020		£3,967,505	£3,707,171
		===========	===========

There were no recognised gains and losses other than those included in the Statement of Financial Activities.

The accompanying notes form part of these financial statements.

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRE) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

BALANCE SHEET

AS AT 31 DECEMBER 2020

		2020		2019
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	6		619,523		633,974
Investments	7		2,761,730		2,575,064
			-------------------		-------------------
			3,381,253		3,209,038
CURRENT ASSETS
Debtors - prepayments		2,743		764
Cash at bank and in hand		604,405		506,127
		--------------------		--------------------
		607,148		506,891
CREDITORS: Amounts falling
due within one year	8	(20,896)		(8,758)
		--------------------		--------------------
NET CURRENT ASSETS			586,252		498,133
			--------------------		--------------------
TOTAL ASSETS LESS
CURRENT LIABILITIES			£3,967,505		£3,707,171
			===========		===========
FUNDS
Unrestricted Funds	9		£3,967,505		£3,707,171
			===========		===========

Approved and authorised for issue by the Trustees on 7 October 2021 and signed on their behalf by:

……………………………… Marie Pitcher Province Leader and Trustee

The accompanying notes form part of these financial statements.

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRE) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

ACCOUNTING POLICIES

FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

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

a)

Basis of preparation

The financial statements have been prepared in accordance with the Statement of Recommended Practice for charities (SORP 2015) (Second Edition, effective 1 January 2019) preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

There are no areas of critical judgment or estimation used in the preparation of the financial statements.

b) Preparation of accounts on a going concern basis

The trustees consider there are no material uncertainties about the charity’s ability to continue as a going concern. The trustees acknowledge that COVID 19 has impacted on the organisation’s activities. The Trustees are continually reviewing work plans and practices, together with a continuous financial review to ensure that disruption caused by COVID 19 minimally impacts the organisation. The Trustees are confident given the strong cash reserves of the organisation that the organisation will continue as a going concern

c)

Income

All income is included in the statement of financial activities when the charity is entitled to the income, it is probable that income will be received and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Sisters’ Salaries and Pensions

Sisters’ salaries and pensions are received under deeds of covenant and are stated inclusive of income tax but net of any deductions for social security payments and contributions to occupational pension schemes.

Donations and legacies

Donations and legacies are recognised when receivable or when the Charity becomes legally entitled to them. Receipts of property, investments or other gifts in kind are included at market value.

d) Expenditure

Charitable expenditure consists of all expenditure relating to the objects of the Charity. All costs are directly attributable to the activities under which they have been analysed.

Governance costs include expenditure on the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Irrecoverable VAT is included with the category of expense to which it relates.

e) Tangible fixed assets

Depreciation is provided using the following rates and bases to reduce by annual instalments the cost, less estimated residual value, of the tangible assets over their estimated useful lives:-

Buildings (excluding land) 2% Straight Line Computers 25% Straight Line Fixtures and Fittings 20% Straight Line Motor Vehicles 25% Straight Line

Depreciation on tangible assets has been shown wholly under charitable expenditure as the depreciation on office equipment used in administration is too small to warrant separate allocation to other expenditure.

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRE) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

ACCOUNTING POLICIES (continued)

FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES (continued)

f) Investments

Quoted investments are valued at their closing middle market price on the balance sheet date and the gain or loss taken to the Statement of Financial Activities. All movements in value are shown in the Statement of Financial Activities.

g) Cash Flow Statement

The trustees have taken advantage of the exemption in the Charities SORP (FRS 102) not to prepare a cash flow statement.

h) Debtors

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

i) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments.

j) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

k) Estimates and Judgements

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the trustee’s best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The trustees do not consider there to be any material estimates or judgements.

l) Financial instruments

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are initially measured at transaction price (including transaction costs).

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRE) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

2.	DONATIONS AND LEGACIES	2020	2019
		£	£
	Donations	591	1,441
	Sisters’ salaries and pensions	207,211	205,027
		-----------------	-----------------
		207,802	206,468
		=========	=========
3.	INVESTMENT INCOME	2020	2019
		£	£
	Dividend income	60,577	57,585
	Interest on bank deposits	2,475	5,551
		----------------	----------------
		63,052	63,136
		========	========
4.	EXPENDITURE
		2020	2019
		£	£
	*Charitable Activities:*
	Support of members and their ministry:
	Sisters living and ministry expenses	99,384	103,075
	Insurance and health pension contributions	7,104	5,932
	Personal and professional development	6,716	16,817
	Governance costs (see below)	6,930	5,640
	Other expenditure	14,406	12,759
		------------------	------------------
		134,540	144,223
		=========	=========
	The charity did not have any employees in the current or preceding year.
	Governance costs include:	2020	2019
		£	£
	Auditor’s remuneration
	- Audit services
	.. Current year	6,930	5,640
		--------------	--------------
		6,930	5,640
		=======	=======

5. TRANSACTIONS WITH TRUSTEES

As members of the Institute of the Sisters of the Infant Jesus the Trustees’ living expenses were borne by the Trust, but the Trustees received no remuneration or other benefits in connection with their duties as Trustees during the year (2019: None).

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRE) GENERAL TRUST

PROVINCE ACCOUNTS – ENGLAND

NOTES TO THE FINANCIAL STATEMENTS (Continued)

FOR THE YEAR ENDED 31 DECEMBER 2020

TANGIBLE ASSETS		Long
	Freehold	leasehold
	Land and	Land and	Motor
	Buildings	Buildings	Vehicles	Total
	£	£	£	£
COST OR VALUATION
At 1 January 2020 and
at 31 December 2020	272,241	486,085	44,019	802,345
	-----------------	------------------	----------------	-----------------
DEPRECIATION
At 1 January 2020	54,199	74,166	40,006	168,371
Charge for year	2,722	9,722	2,007	14,451
	----------------	----------------	----------------	-----------------
At 31 December 2020	56,921	83,888	42,013	182,822
	----------------	----------------	-----------------	-----------------
NET BOOK VALUE
At 31 December 2020	215,320	402,197	2,006	619,523
	=========	=========	=======	=========
At 31 December 2019	218,042	411,919	4,013	633,974
	=========	=========	=======	=========

All fixed assets are for charitable activities other than a small proportion used in the administration of the charity.

All land and buildings are included at cost.

FIXED ASSET INVESTMENTS	2020	2019
	£	£
Market value at 1 January 2020	1,847,336	1,639,763
Additions	118,681	-
Disposals	-	(62,117)
Net investment gains	124,064	269,690
	----------------------	----------------------
Market value at 31 January 2020	2,090,081	1,847,336
Cash held by investment managers	671,649	727,728
	----------------------	----------------------
Total portfolio value at 31 December 2020	2,761,730	2,575,064
	==========	==========
Historical cost at 31 December 2020	2,306,161	2,256,500
	==========	==========

THE SISTERS OF THE INFANT JESUS (NICOLAS BARRE) GENERAL TRUST

PROVINCE ACCOUNTS - ENGLAND

NOTES TO THE FINANCIAL STATEMENTS (Continued)

FOR THE YEAR ENDED 31 DECEMBER 2020

CREDITORS: Amounts falling due within one year	2020	2019
	£	£
Accruals	5,821	5,820
Amounts due to Sisters (Patrimony Fund)	2,938	2,938
Other creditors	12,137	-
	--------------	--------------
	20,896	8,758
	=======	=======

9. UNRESTRICTED FUNDS

All the funds of the charity are unrestricted. The communities hold small cash balances for their working and all other assets and liabilities are held by the Provincial Fund.

10. RELATED PARTY TRANSACTIONS

There were no related party transactions in the current or preceding years.