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2024-06-30-accounts

THE COMMUNITY OF ST FRANCIS (European Province) Registered Charity No: 286615 FINAL ACCOUNTS FOR THE YEAR TO 30th JUNE 2024 TRUSTEES’ REPORT ....................................................... Pages 1-3 FINAL ACCOUNTS Independent Examiner’s Report ......................................... Page 4 BALANCE SHEET as at 30th June 2024 .................................. Page 5 STATEMENT OF FINANCIAL ACTIVITIES Income & Expenditure Accounts for the Year Ended 30th June 2024 ...................................... Page 6 Notes to the Accounts .............................................Pages 7-10

The Community of St Francis (The Sisters of the First Order of the Society of St Francis)

ANNUAL REPORT OF THE TRUSTEES

Registered Charity, Number 286615

1. Address: 2 Yukon Way, Leicester LE1 2AF

2. Trustees.

Provincial Chapter: Sr Beverley CSF (ex-officio- elected) Provincial Secretary: Sr Maureen CSF Novice Guardian: Sr Maureen CSF Provincial Bursar: Sr Christine James CSF Sr Gina CSF Sr Joyce CSF, Sr Liz CSF

Also Minister General (ex officio- elected): Sr Sue CSF

Custodian Trustees:

The Official Custodian for Charities

3. Appointment of Trustees

The Trustees are members of the Chapter and are appointed as follows:

The Minister Provincial is elected by the professed members of the Community. The period of office is five years, and reelection is possible for one further term of five years. The Minister Provincial appoints the Provincial Secretary, the Provincial Bursar and the Novice Guardian, all with the approval of the Chapter members. The Minister General is elected by the life professed members of the Community in the European Province and the Province of the Americas. The period of office is six years which may be followed by a further period of four years. All sisters in profession who are able and who are normally resident in the British Isles will serve on Chapter. The membership shall be renewed annually.

4. The Governing Instrument is "The Constitution of the Society of St Francis", which is read in conjunction with: "The Principles of the First Order of The Society of St Francis" (1996); "The Constitution of the First Order of the Society of St Francis"(2019); and "The Statutes of the European Province of the First Order of the Society of St Francis" (2024). The Community of St Francis is an Unincorporated Association.

5. The Object of the Community

The object ......of the First Order is to build up a body of ... women who, accepting Christ as their Lord and Master, will seek to follow him in the way of renunciation and sacrifice as an act of witness and for the loving service of his brothers and sisters in the world. (The Principles of the First Order of The Society of St Francis)

6. Agents:

Bankers: The Co-operative Bank, PO Box 250, Skelmersdale WN6 6WT and NatWest, 2 Hendford, Yeovil BA20 1TN Independent Examiner: CAPlus, Units 1 & 2 North West, 41 Talbot Street, Nottingham NG1 5GL.

7. Review of the year

We now have 13 Sisters in the UK our ages range from mid 50’s to early 90’s living in houses in London, Leicester and 5 sisters living singly, one sister is in residential care and one sister is on leave of absence. 12 sisters are in life profession and 1 is a novice.

Our life continues to be interwoven within a framework of daily prayer and worship and most of our ministry is not quantifiable in monetary terms. This regular life of prayer is the basis of our Franciscan life and service.

Sisters are variously engaged in ministry according to their gifts and skills and seizing the moment as the Holy Spirit provides opportunities.

During the year, two sisters were able to undertake a sabbatical, one in Yorkshire and the other having the first half of her sabbatical in Korea and Japan. For each of them, this was a time of refreshment and reflection.

At the beginning of the year, Sr Elizabeth, who had been in nursing care, died quietly in the company of two of our sisters. During her 60 plus years in community she had held many leadership roles and had guided the community through considerable change.

In September, four sisters participated in a First Order Chapter at High Leigh in Hertfordshire. This international gathering of members of CSF and the Society of St Francis (SSF) together with members of the Third Order of the Society of St Francis (TSSF) was an opportunity for learning, business and getting to know participants from five continents. Three of the sisters played a significant part in organising this event.

Recognising that we were getting smaller in number and that there was little point in holding elections for Chapter, we have changed our Provincial Statutes so that Chapter (the trustee body) is now composed of all members in profession who are able to participate thus enabling members in first profession to take part in decision making.

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Leicester

The two sisters in Leicester are engaged both locally in the Parish and with organisations in St Matthews, the estate where they live, and nationally within CSF (Minister Provincial and Provincial Bursar) and the wider church. As Minster Provincial, much time is taken up with pastoral visits and meetings.

Both sisters are more heavily involved in the Parish during an interregnum with one, as Vice-chair of the PCC taking a significant part in the leadership of the Parish.

In the Birmingham area, two sisters live singly in sheltered accommodation, continuing to be a Franciscan praying presence and offering friendship where they live and worship and participating in the church communities of which they are a part. One celebrated 50 years in profession, a joyous occasion for the community members past and present and the churches to which she has belonged.

Southwark

There are now five members in the household which continues its varied ministries. The house has a significant guest ministry from groups or individuals staying for a day to people staying for several days in this well located, affordable place. The sisters participate in the life and worship of several local churches and they regularly volunteer in a wide range of local organisations. Several of the sisters have a ministry of spiritual direction or accompaniment and some lead retreats or take part in other church events further afield. Two of the sisters are in leadership and administrative roles, both in England and internationally within CSF.

Nearby, a sister in her late-eighties continues to live in sheltered accommodation. She continues to take an active role in the housing complex where she lives and within CSF as Secretary for Liturgy, a member of Chapter and compiling an intercessory paper for the franciscan magazine.

Other sisters

One sister continues to work full time as Rector of the Upper Soar Benefice in Leicestershire, being responsible for five parishes. She is encouraging three parishes to work towards a Silver A Rocha (eco) award, is pioneering work in local schools and developing forms of worship to attract people who would not normally attend a traditional church service. Many of her services are mixed mode, both in person and by Zoom enabling people who are housebound or unable to travel to participate. The church at Dunton Bassett is being reordered to provide both a place of worship and a community resource for the village.

One elderly sister continues to live in residential care in Aberaeron while another sister lives out her vocation as a solitary in Lancashire.

Korea

The three sisters in South Korea continue to be self-financing. They are engaged in ministry in two local dioceses and in the Anglican Church nationally, building on their individual current ministries – sewing church vestments, member of the Equality Committee of the Anglican Church in Korea, work with deprived children, running Enneagram courses, and parish ministry in Daejeon, and ordained leadership of the church in Gumi. They also are engaged in Interfaith Peace pilgrimages in Seoul. They have recently acquired a second house in the traditional Korean village where they live with the intention of developing a guest ministry.

We are small in number but we continue in our Franciscan calling and seek to live out this way of life to the best of our ability and with hope. We are dispersed geographically but seek to keep connected personally with the annual Sisters meeting, and with Chapter meetings and community celebrations and other events. We also stay connected by phone, WhatsApp, email and Zoom.

The international character of our Community still significantly shapes us and the ministry we are able to offer in diverse circumstances.

More examples of our work and ministry can be found in the franciscan magazine, published three times a year, and on our website: www.franciscans.org.uk and Facebook pages: TheCommunityAndSocietyOfStFrancisEuropeanProvince Each of these is produced jointly with our First Order brothers in the European Province of The Society of St Francis.

8. Future Plans

Many of our works and ministries will continue for so long as we are capable but changing in response to the needs around us. A group of sisters, the ones likely to be affected by any house purchase, continues to meet to further the process of finding a property and location more suited to our future needs and potential ministries.

9 . Public Benefit

The Trustees have had regard to the guidance issued by the Charity Commission on public benefit.

In all houses, we encourage those who we help, by way of offering accommodation, counselling or spiritual direction, to make a contribution to the community according to their means, and offer realistic guidelines, but we do not refuse our services if this is not forthcoming. Sisters also volunteer in various capacities, with a number of charities, and local community organisations.

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10. Finance

The Community in the European Province administers its funds through the various addresses and centres of work in the United Kingdom. These, through the Provincial Fund which acts as a pool, help to finance the Province as a whole, whenever they are able to generate a net surplus within a given year. The Province reciprocates in meeting local needs, as agreed through annual budgeting and dialogue. The Chapter annually authorises both Provincial and House budgets at its Pentecost Meeting and the Provincial Budget is reviewed at the other meeting. Unbudgeted necessary expenditure of over £500 is authorised by the Minister Provincial and ratified at the next Chapter Meeting. The aim of this system is to allow for a degree of local discretion in financial policy making while maintaining an interdependence and mutual accountability between our sisters as a whole.

Each address of the Community administers an account locally for the support of the sisters living and working from it, and to assist its mission there. These accounts receive donations, part-time salaries and other cash receipts. Each address is an integral part of the Community.

The Provincial Fund co-ordinates the work and mission of the Community in the Province, receiving any full-time salaries and the pensions of its members as well as Legacies and other Capital Receipts.

A significant increase in sisters personal expenses was due to sabbatical costs.

Keeping in mind the move to net zero emissions, we have increased the vehicle fund with a view to replacing our current vehicles with electric or hybrid ones as the need arises and, given that we now have novices, we have increased the Training Fund.

11. Policy on Reserves

From the Constitution of the First Order of the Society of St Francis: The Sisters desire to have no security resting on earthly possessions but to be wholly dependent upon God, relying on faith and prayer. The First Order itself shall not normally hold any land, building or capital in its own name but shall, when possible, place all property of which it may have the use into the hands of others. (Constitution of the First Order, 35:1, 2.) Thus, the Community is not restricted in its investment powers, except where legally required - notably under the terms of the Trustee Investment Act 1961. However, it is not in the spirit of the Community in its interpretation of the Gospel of Christ after the way of St Francis to invest in any material or financial asset for security of Capital or Income. It is expected that investments recorded in the Accounts will relate to designated funds, established by the Chapter for specific purposes.

12. Risk

The Chapter Members, in their duties as Trustees, consider regularly the major risks which may affect the Community, and decisions and recommendations for discussion and action are reported to the wider community.

Together with the Brothers of the Society of St Francis, the Community has developed policies and guidelines to ensure that vulnerable people, including children, are safeguarded and that spiritual direction, counselling and other pastoral work are carried out to a professional standard. These are reviewed on a regular basis.

The Trustees are satisfied that the funds are being managed on a low-risk basis and are monitoring the situation with a long term overview.

The community is fortunate in that a large proportion of our income is from pensions with one sister in employment. We recognise that, over time, the income from pensions will decrease but long-term planning has enabled us to maximise the possible state pensions for most sisters in their sixties and early seventies.

13. Other information not recorded in the Accounts

The Community wishes to acknowledge the blessing of great generosity from those who support us, not solely by money but also in time given to practical help and by their prayers. Such acts of generosity are largely local and personal and are, consequently, not quantifiable within the formal structure of an Annual Report, but the Community here records its gratitude.

Sr Beverley CSF Minister Provincial and Chairperson 31 January 2025

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Independent Examiner's Report to the Trustees of The Community of St Francis (European Province)

I report to the Trustees on my examination of the accounts of the Community of St Francis (the charity) for the year ended 30 June 2024.

Respective responsibilities of Trustees and examiner

As the Trustees of the charity you are responsible for the preparation of the accounts. The charity’s Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Act”)

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that in any material respect:

  1. the accounting records were not kept in accordance with section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.

I have no concerns come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed _______ John O’Brien MSc, FCIE Employee of Community Accounting Plus

Date 11/02/2025___

Units 1 & 2 North West, 41 Talbot Street, Nottingham, NG1 5GL.

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BALANCE SHEET as at 30 June 2024

Notes
FIXED ASSETS
Tangible fixed assets
(8)
Investments
(9)
CURRENT ASSETS
Stocks
Debtors and prepayments
Deposit Funds
Cash at bank and in hand
CURRENT LIABILITIES
Accruals
Other Creditors
NET CURRENT ASSETS
NET ASSETS
FUNDS
Unrestricted
Designated Funds
(10)
General Funds		 June 30, 2024
Consolidated
Provincial &
House Funds
£
9,990
507,993
517,983
40
1,392,727
135,965
1,528,732
(720)
(3,839)
1,524,173
2,042,156
1,698,982
343,174
2,042,156		 June 30, 2023
Consolidated
Provincial &
House Funds
£
13,320
457,367
470,687
1,307,156
133,569
1,440,725
(672)
(2,059)
1,437,994
1,908,681
1,566,115
342,566
1,908,681

Approved by the Trustees on 31 January 2025 and signed on their behalf by Sr Beverley CSF Minister Provincial

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STATEMENT OF FINANCIAL ACTIVITIES Provincial & House Funds Consolidated for the year ended 30 June 2024

INCOME & EXPENDITURE
Notes
Income from:
Legacies
Grants and donations
Srs' Pensions/Allowances
Sisters' Salaries
Ministry
Contributions from Guests
Donated services and facilities
Sales/Industries
Interest
Profit on disposal of fixed assets
Total
Expenditure on:
Gen. Maintenance of Houses
(3)
On Behalf of Sisters
(4)
Travel & Vehicle Maintenance
(5)
Training & Education
Administration
(6)
Overseas Travel
Depreciation
Gifts
(7)
Contributions to FODF
Contributions to SSF
Removal Expenses
Shop purchases
Stock written off
Legal and professional fees
Total
Gains and losses on investment assets
Net income/(expenditure)
Transfers between Funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Total
Total
General
Fund
Desig'd
Funds
30 Jun
2024
30 Jun
2023
£
£
£
£
4,892
23,323
23,323
23,409
111,745
111,745
109,521
29,982
29,982
31,439
3,919
3,919
5,555
13,013
13,013
13,962
8,400
8,400
8,400
182
182
148
58,365
13,405
71,770
27,468
333,752
248,929
13,405
262,334
558,546
100,145
100,145
101,900
37,655
37,655
27,491
7,983
7,983
7,438
589
589
2,255
11,664
11,664
12,995
1,300
1,300
4,720
3,330
3,330
4,441
6,808
6,808
8,124
7,500
7,500
10,000
2,250
2,250
2,000
1,487
7
7
3
72
254
254
13,272
176,155
3,330
179,485
196,198
50,626
50,626
9,307
72,774
60,701
133,475
371,655
(72,166)
72,166
608
132,867
133,475
371,655
342,566
1,566,115
1,908,681
1,537,026
343,174
1,698,982
2,042,156
1,908,681

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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30th JUNE 2024

1 Accounting Policies

a) Basis of accounting

b) Cost Allocation

Financial Activities are analysed into classifications to suit the Community's circumstances in accordance with paragraph 4.6 of SORP (FRS 102). Support and governance costs are integral to overall expenditure.

c) Recognition of income

These are included in the Statement of Financial Activities (SoFA) when:

the charity becomes entitled to the resources;

it is more likely than not that the Trustees will receive the resources; and

the monetary value can be measured with sufficient reliability.

d) Expenditure and Liabilities

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e) Assets

Tangible fixed assets for use by charity Expenditure on improvements to property, additions to major vehicles and major items of fixtures and equipment over £1,000 and which can be used for more than one year have been capitalised and are being depreciated on a straight line basis as follows:

Freehold buildings - over 50 years Fixtures and equipment - over 5 years Improvements to property - over 5 years Computer equipment - over 3 years.

The depreciation for motor vehicles is by a reducing balance basis of 25% per annum in order to reflect our current practice of purchasing good second-hand vehicles and retaining them for a longer period. A full year's depreciation is charged in the year of purchase. Smaller items are charged to income and expenditure immediately.

Debtors Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

General maintenance of houses
Rent, rates & Council Tax
Insurance
Household
Repairs & maintenance
Heat & light
Food
Chapel
Garden
On behalf of Sisters
Personal, inc. therapy & conferences
Care home fees
Funeral expenses & plans
Books & Papers
Travel & vehicle maintenance
Travel
Vehicle running & maintenance
Administration
Office & general expenses incl Chapters
Communications
Independent Examination		 Total
2024
45,891
8,523
7,217
1,380
13,602
18,325
176
5,031
100,145
26,937
2,253
5,830
2,635
37,655
3,133
4,850
7,983
6,891
3,968
805
11,664		 Total
2023
46,407
8,561
5,594
4,759
13,206
17,843
1,351
4,179
101,900
15,744
8,284
3,463
27,491
516
6,922
7,438
7,840
4,408
747
12,995

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Gifts
Gifts – organisations
Gifts – individuals
Fixed Assets
Cost or valuation
Balance bt forward
Additions
Disposals
Balance cd. forward
Depreciation
Balance bt forward
Charge for the year
Eliminated on disposal
Balance cd forward
Net book value at 30 June 2024
Net book value at 30 June 2023
Investments
Market value brought forward
Addition
Disposal at opening market value
(Decrease) / Increase in market value
Market value carried forward

Freehold
Land &
Buildings
Property &
Improv'ts

6,299
509
6,808
Motor Vehicle
Fixtures &
Equipment
31,939

7,784
340
8,124
Computers
Total
31,939
31,939
18,619
3,330		 31,939
18,619
3,330
21,949 21,949
9,990 9,990
13,320 13,320
2024
457,367
50,626
507,993		 2023
448,060
9,307
457,367

The investments comprise deposits with CCLA Investment Management and M & G Charifund. They have historical cost values of £123,572 and £50,039 respectively. They are designated for the Development Fund and the Building Fund (see Note 10).

Designated Funds
Fund Name
Development Fund
Building Fund
Vehicle Fund
Training Fund
Total Funds		 Fund
Balances
brought
forward
Income
Expenditure
Transfers
Gains and
Losses
Fund
Balances
carried
forward
507,408
10,621
(8,050)
24,115
534,094
985,387
68,000
26,511
1,079,898
63,320
2,292
(3,330)
7,708
69,990
10,000
492
4,508
15,000
1,566,115
13,405
(3,330)
72,166
50,626
1,698,982

Development Fund - established to provide income or capital support for development Building Fund - funds for house purchase and building improvements Vehicle Fund - established to provide income or capital support for the costs of vehicle replacement Training Fund - established to provide support for the costs of training sisters and General Chapters

Fund Transfers

Fund Transfers £ Interest from the Vehicle Fund and Training Funds is historically transferred to the General Fund From General Funds to Vehicle Fund to provide for replacing existing vehicles with EV or hybrid 10,000 From General Funds to Training Fund provision for traning new members 5,000 From General Funds to Building Fund to increase provision for property purchase, 68,000 significantly comprising the interest on the portion of the Building Fund held in the CBF General Fund

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Analysis of Net Assets between Funds (consolidated)
Tangible
Fixed
Assets		 Investm'ts Net Current
Assets		 Total
Designated Funds £ £ £ £
Development Fund 301,366 232,727 534,093
Building Fund 206,627 873,272 1,079,899
Vehicle Fund 9,990 60,000 69,990
Training Fund 15,000 15,000
9,990 507,993 1,180,999 1,698,982
General Fund 343,174 343,174
9,990 507,993 1,524,173 2,042,156

Trustees' Benefits

The Charity provides for the essential needs of all members of the Community. As Sisters of the Community, the Trustees’ living and personal expenses during the year were borne by the charity but they received no remuneration or reimbursement for expenses in connection with their duties as Trustees.

Carrying amount of financial assets 2024 2023
Equity instruments measured at fair value through income & expenditure 507,993 457,367
Related party transactions
There were no related party transactions in the period.

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