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2020-12-31-accounts

Charity Registration No. 1036524

The Congregation of the Daughters of Mary Mother of Mercy in the British Isles

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Sr M Nzeribe
Sr B Onwuzuruigbo
Sr M Echeta (Appointed 1 April 2020)
Sr P Iwuoha (Appointed 1 April 2020)
Sr A Ilonor (Appointed 1 April 2020)
Charity number 1036524
Independent examiner Darren Harding ACA FCCA DChA
Richard Place Dobson Services Limited
1-7 Station Road
Crawley
West Sussex
RH10 1HT
Bankers Allied Irish Bank
The Manor House
High Street
Wanstead
London
E11 2RL
Solicitors Pothecary Witham Weld
70 St George's Square
London
SW1V 3RD

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5 - 6
Balance sheet 7
Statement of cash flows 8
Notes to the financial statements 9 - 15

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) " (effective 1 January 2019 ).

Objectives and activities

Objectives and aims

The main object of the charity is to promote the charitable work carried on or supported by the Trustees of the Congregation of the Daughters of Mary, Mother of Mercy.

Members of the community continued to work in hospitals and nursing homes providing medical and nursing support. In the local Parish communities the sisters undertake Pastoral work, including adoration of the blessed sacrament, visiting and administering the Eucharist to the lonely, sick, aged, bereaved and other members of the community. They are also involved in other aspects of Parish life.

Public benefit

The charity's trustees have referred to the Charity Commission's general guidance on Public Benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, they have considered how planned activities will contribute to the aims and objectives they have set.

Charity background

Daughters of Mary, Mother of Mercy sisters in England work in hospitals and nursing homes to provide nursing care and support. They also have sisters working in local parishes, co-ordinating their activities of pastoral work including adorations of the blessed sacrament, visiting and administering Eucharist to the lonely, sick, aged and bereaved.

There are 8 communities in England:

Richard Place Dobson page 1

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

Achievements and performance

The number of communities in England remained at 8 in the year.

Waverley care home was purchased in April 2007 and is a twenty bed care home. The home provides nursing and residential care.

The home is spread over four floors and consists of:

Basement

In the basement there is a dining room with an area which is used for watching TV by some of the clients. The kitchen, laundry, Staff room and main office are based in the basement. There is also access to three toilets: one for kitchen staff, one for general staff and one for clients.

Ground floor

On the ground floor there are three bedrooms, a sluice, a bathroom with a toilet, a separate toilet, the main lounge and a small nurse's station. Two of the bedrooms on this floor are double room's with one en-suite.

First floor

On the first floor there are seven bedrooms, one of these is a large double room. There is a shower room, toilet and sluice room.

Second floor

There are seven bedrooms, one bathroom with a toilet, a sluice room and a separate toilet.

There is a passenger lift which accesses all of the floors in the building.

Staff and training

A trained nurse is on duty 24 hours a day with three care assistants in the morning, two in the afternoon and one at night. Staffing levels are monitored to ensure that appropriate numbers of staff are available for clients in our care. We have not used agency staff in the last 12 months.

Our manager is a trained nurse and has commenced a level 4 NVQ in leadership and Management. We have a registered general/mental nurse who is responsible for overseeing any mental health issues across clients at Waverley.

Three of our other nurses are dual registered general nurse/midwife. Our part time nurse is a state enrolled nurse who works two nights a week. All of our trained staff attend various training courses and updates regarding best practice across various areas within the home. We employ a full time activities co-ordinator who works 6 hours a day 5 days a week.

Financial review

The net incoming resources of the charity was £1,824 (2019 net outgoing resources - £7,649).

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between approximately six and nine month’s expenditure. The trustees consider that reserves at this level are sufficient to cover it's working capital requirements. This reserve policy reflects the need to balance risk against the objectives of the charity.

Covid-19

The Trustees have given consideration to the Charities SORP ('Statement of Recommended Practice') Committee's advice in its publication 'Implications of COVID-19 Control Measures and Charity Financial Reporting' and to the risks arising as a result of the coronavirus pandemic. The Charity is actively monitoring and managing the situation as it develops. We have adapted our operations and consider that the Charity has adequate reserves and committed future grants from supportive and solvent funders.

Richard Place Dobson page 2

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees have assessed the major risks to which the charity is exposed, and confirm that systems are in place to mitigate exposure to these risks.

Structure, governance and management

The Congregation of the Daughters of Mary, Mother of Mercy was established in England in 1987. The charity is governed by a trust deed dated 13 December 1993 and is registered with the Charity Commission under registration number 1036524. The power to appoint and remove trustees rests with the Sister Superior.

The trustees who served during the year and up to the date of signature of the financial statements were: Sr M Nzeribe Sr M Ononlwu (Resigned 27 March 2020) Sr M Amaechi (Resigned 27 March 2020) Sr M Okite (Resigned 27 March 2020) Sr B Onwuzuruigbo Sr M Echeta (Appointed 1 April 2020) Sr P Iwuoha (Appointed 1 April 2020) Sr A Ilonor (Appointed 1 April 2020)

The trustees' r eport was approved by the Board of Trustees.

.............................. Sr M Echeta Trustee Date: .............................................

Richard Place Dobson page 3

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

I report to the trustees on my examination of the financial statements of The Congregation of the Daughters of Mary Mother of Mercy in the British Isles (the charity) for the year ended 31 December 2020.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

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

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have 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 financial statements to be reached.

Darren Harding ACA FCCA DChA

Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT

Dated: .........................

Richard Place Dobson page 4

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2020

Current financial year
Unrestricted Unrestricted
funds
funds
general
d esignated
2020
2020
Notes
£
£
Income from:
Donations and legacies
3
59,561
-
Charitable activities
Sisters Salaries
4
522,547
-
Care Home
4
396,502
-
Total income
978,610
-
Expenditure on:
Charitable activities
Relgious activities
5
552,355
-
Care Home
5
415,976
3,500
Total charitable expenditure
968,331
3,500
Other
8
4,955
-
Total resources expended
973,286
3,500
Net incoming/(outgoing) resources before transfers
5,324
(3,500)
Gross transfers between funds
485,539
(485,539)
Net income/(expenditure) for the year/
Net movement in funds
490,863
(489,039)
Fund balances at 1 January 2020
81,384
790,039
Fund balances at 31 December 2020
572,247
301,000		 Total
2020
£
59,561
522,547
396,502
978,610
552,355
419,476
971,831
4,955
976,786
1,824
-
1,824
871,423
873,247		 Total
2019
£
15,470
482,102
398,771
896,343
516,283
381,268
897,551
6,441
903,992
(7,649)
-
(7,649)
879,072
871,423

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Richard Place Dobson page 5

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2020

Prior financial year
Unrestricted Unrestricted
funds
funds
general
d esignated
2019
2019
Notes
£
£
Income from:
Donations and legacies
3
15,470
-
Charitable activities
Sisters Salaries
4
482,102
-
Care Home
4
398,771
-
Total income
896,343
-
Expenditure on:
Charitable activities
Relgious activities
5
516,283
-
Care Home
5
381,268
-
Total charitable expenditure
897,551
-
Other
8
-
6,441
Total resources expended
897,551
6,441
Net incoming/(outgoing) resources before transfers
(1,208)
(6,441)
Gross transfers between funds
(33,016)
33,016
Net income/(expenditure) for the year/
Net movement in funds
(34,224)
26,575
Fund balances at 1 January 2019
115,608
763,464
Fund balances at 31 December 2019
81,384
790,039		 Total
2019
£
15,470
482,102
398,771
896,343
516,283
381,268
897,551
6,441
903,992
(7,649)
-
(7,649)
879,072
871,423

Richard Place Dobson page 6

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

BALANCE SHEET

AS AT 31 DECEMBER 2020

Notes
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
Net current (liabilities)/assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
13
Net assets
Income funds
Unrestricted funds
Designated funds
14
General unrestricted funds		 2020
£
2,059
41,196
43,255
(51,877)
301,000
572,247		 £
934,163
(8,622)
925,541
(52,294)
873,247
873,247
873,247		 2019
£
11,497
39,925
51,422
(48,470)
790,039
81,384		 £
957,064
2,952
960,016
(88,593)
871,423
871,423
871,423

The financial statements were approved by the Trustees on .........................

.............................. Sr M Echeta Trustee

Richard Place Dobson page 7

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2020

2020 2019
Notes £ £ £ £
Cash flows from operating activities
Cash generated from operations 17 35,904 6,463
Investing activities
Proceeds on disposal of tangible fixed assets - 4,032
Net cash (used in)/generated from investing
activities - 4,032
Financing activities
Repayment of bank loans (34,633) (33,146)
Net cash used in financing activities (34,633) (33,146)
Net increase/(decrease) in cash and cash equivalents 1,271 (22,651)
Cash and cash equivalents at beginning of year 39,925 62,576
Cash and cash equivalents at end of year 41,196 39,925

Richard Place Dobson page 8

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Donations and similar incoming resources are included in the year in which they are receivable which is when the charity is entitled to the resource.

Sisters Income - This is included in the accounts as and when it is paid into the Charity's bank by either the individual Sisters or their employers.

Care Home Residents Fees - This income is included in the accounts in the year in which it is receivable which is when the charity is entitled to the resource.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

The charitable activities are split between Waverley care home in Liverpool and the other congregations which are spread across the UK. Likewise, the support costs have been split between the care home and the congregation.

All support costs have been identified as finance and governance costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulations and good practice. These costs include costs related to an Independent Examination and bank charges with allocation to Religious activities and Care Home.

Richard Place Dobson page 9

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property Straight line over 50 years Plant and machinery 20% Reducing balance Fixtures, fittings & equipment 20% Reducing balance Motor Vehicles 20% Reducing balance

Freehold land is not depreciated.

Assets costing over £1,000 are capitalised.

1.7 Financial instruments

The charity only has 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 with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments.

1.8 Taxation

As a charity, the organisation is not subject to Corporation Tax or any other taxes on income or gains arising from its charitable activities.

1.9 Debtors

Other debtors represent prepayments that are valued at the amount prepaid net of any trade discounts due.

1.10 Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

1.11 Key Judgements and Accounting Estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year, However, the nature of estimation means that actual outcomes could differ from those estimates.

The main judgements and accounting estimates included in the accounts are:

Richard Place Dobson page 10

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
general general
2020 2019
£ £
Donations and gifts 19,772 15,470
Government grant 39,789 -
59,561 15,470

4 Charitable activities

Sisters Salaries
Care Home
2020
2020
£
£
Care home fees
-
396,502
Sisters income
522,547
-
522,547
396,502		 Total
2020
Sisters Salaries
Care Home
2019
2019
£
£
£
396,502
-
398,771
522,547
482,102
-
919,049
482,102
398,771		 Total
2019
£
398,771
482,102
880,873

Richard Place Dobson page 11

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

5 Charitable activities

Relgious
activities
Care Home
2020
2020
£
£
Depreciation and impairment
19,145
3,756
Religious activities
533,210
-
Care Home
-
415,720
552,355
419,476
552,355
419,476
Analysis by fund
Unrestricted funds - general
552,355
415,976
Unrestricted funds -
designated
-
3,500
552,355
419,476		 Total
2020
Relgious
activities
Care Home
2019
2019
£
£
£
22,901
25,171
-
533,210
113,745
-
415,720
377,367
381,268
971,831
516,283
381,268
971,831
516,283
381,268
968,331
516,283
381,268
3,500
-
-
971,831
516,283
381,268		 Total
2019
£
25,171
113,745
758,635
897,551
897,551
897,551
-
897,551

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

7 Employees

The average monthly number of employees during the year was:

2020 2019
Number Number
Waverley Care Home 17 15

As members of the order, the trustees' living expenses are borne by the Order. The trustees received no remuneration or other benefits in connection with their duties as trustees.

The trustees do not consider any of the staff to be key management personnel.

There were no employees whose annual remuneration was more than £60,000.

Richard Place Dobson page 12

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

8
Other
Financing costs
9
Tangible fixed assets
Cost
At 1 January 2020
At 31 December 2020
Depreciation and impairment
At 1 January 2020
Depreciation charged in the year
At 31 December 2020
Carrying amount
At 31 December 2020
At 31 December 2019
10
Debtors
Amounts falling due within one year:
Other debtors
11
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 Freehold
property
£
1,137,400
1,137,400
224,041
14,143
238,184
899,216
913,359		 Unrestricted
Unrestricted
funds
funds
general
d esignated
2020
2019
4,955
6,441
Plant and
machinery
Fixtures, fittings
& equipment
Motor Vehicles
Total
£
£
£
£
5,112
74,088
99,669
1,316,269
5,112
74,088
99,669
1,316,269
5,112
69,474
60,578
359,205
-
940
7,818
22,901
5,112
70,414
68,396
382,106
-
3,674
31,273
934,163
-
4,614
39,091
957,064
2020
2019
£
£
2,059
11,497
2020
2019
£
£
88,688
123,321
36,394
34,728
52,294
88,593		 Unrestricted
Unrestricted
funds
funds
general
d esignated
2020
2019
4,955
6,441
Plant and
machinery
Fixtures, fittings
& equipment
Motor Vehicles
Total
£
£
£
£
5,112
74,088
99,669
1,316,269
5,112
74,088
99,669
1,316,269
5,112
69,474
60,578
359,205
-
940
7,818
22,901
5,112
70,414
68,396
382,106
-
3,674
31,273
934,163
-
4,614
39,091
957,064
2020
2019
£
£
2,059
11,497
2020
2019
£
£
88,688
123,321
36,394
34,728
52,294
88,593
Total
£
1,316,269
1,316,269
359,205
22,901
382,106
934,163
957,064
2019
£
11,497
2019
£
123,321
34,728
88,593

Richard Place Dobson page 13

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

12 Creditors: amounts falling due within one year Creditors: amounts falling due within one year
2020 2019
Notes £ £
Bank loans 11 36,394 34,728
Other creditors 15,483 13,742
51,877 48,470
13 Creditors: amounts falling due after more than one year
2020 2019
Notes £ £
Bank loans 11 52,294 88,593
A loan was taken out in March 2007 with Allied Irish Bank to help finance the purchase of Waverley Nursing Home,
Liverpool. the loan is repayable quarterly over 15 years and the rate of interest charged is 1.25% above the Bank's
Base Rate. the loan is secured by the first legal charge on the freehold property in Liverpool.
14 Designated funds
The funds of the charity include the following designated funds which have been set aside out of unrestricted funds by
the trustees for specific purposes:
Balance at Resources Transfers Balance at
Resources		 Transfers Balance at
1 January 2019 expended 1 January 2020
expended		 31 December
2020
£ £ £ £
£		 £ £
Property fund
763,464		 (6,441) 33,016 790,039
(3,500)		 (485,539) 301,000
763,464 (6,441) 33,016 790,039
(3,500)		 (485,539) 301,000

The Property fund represents the funds necessarily set aside for the charity's occupation of the nursing home in Liverpool, but also takes into account any Impairment loss incurred.

Richard Place Dobson page 14

THE CONGREGATION OF THE DAUGHTERS OF MARY MOTHER OF MERCY IN THE BRITISH ISLES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

15
Analysis of net assets between funds
Unrestricted
funds
Designated
funds
2020
2020
£
£
Fund balances at 31
December 2020 are
represented by:
Tangible assets
633,163
301,000
Current assets/(liabilities)
(8,622)
-
Long term liabilities
(52,294)
-
572,247
301,000		 Total
Unrestricted
funds
Designated
funds
2020
2019
2019
£
£
£
934,163
167,025
790,039
(8,622)
2,952
-
(52,294)
(88,593)
-
873,247
81,384
790,039		 Total
2019
£
957,064
2,952
(88,593)
871,423

16 Related party transactions

There were no disclosable related party transactions during the year (2019 - none) .

17 Cash generated from operations
Cash generated from operations 2020 2019
£ £
Surplus/(deficit) for the year 1,824 (7,649)
Adjustments for:
Depreciation and impairment of tangible fixed assets 22,901 25,171
Movements in working capital:
Decrease/(increase) in debtors 9,438 (7,216)
Increase/(decrease) in creditors 1,741 (3,843)
Cash generated from operations 35,904 6,463
Analysis of changes in net (debt)/funds
At 1 January 2020 Cash flows At 31 December
2020
£ £ £
Cash at bank and in hand 39,925 1,271 41,196
Loans falling due within one year (34,728) (1,666) (36,394)
Loans falling due after more than one year (88,593) 36,299 (52,294)
(83,396) 35,904 (47,492)

18 Analysis of changes in net (debt)/funds

Richard Place Dobson page 15