## **ONE MILLION ACTS OF KINDNESS**
St Vincent de Paul Society (England & Wales) Trustees Report 2020-21 Financial Statements for the year ended 31 March 2021. Company Number: 3174679 Charity Number: 1053992
**Regardless of the global nature of the challenges of the past year, our mission remains unchanged: offering help and care, person to person. We do this through a million small gestures of compassion because it’s in the everyday acts of kindness that we make a difference to people’s lives. As we continue to work through the ongoing pandemic, we remember those we have lost and those we have supported to reshape their lives for the better. We will continue to rise to the challenge one act of kindness at a time.**
**2**
## **OUR MISSION, VISION AND VALUES**
## **Our Vision**
Our Vision, which is inspired by Christ’s message to love our neighbour as ourselves, is for individuals and families who are in need to have hope together with a sense of dignity, worth, well-being and peace of mind.
## **Our Mission**
To seek and find those in need, to help them in a spirit of justice, and to tackle the causes of poverty where we can.
## **Our Values**
- **Christ Centred** - We acknowledge the presence of Christ everywhere.
- **Compassionate** - We aim to show a compassion that is non-judgmental towards those with whom we work.
- **Respectful** - We respect the dignity of all in the knowledge that we are all equal before God.
- **Generous** - We aim to be generous with our time, our possessions and ourselves in the service of others.
- **Responsive** - We aim to be alert to the everchanging needs in the communities in which we work and to respond accordingly in order to alleviate poverty in all its forms as well as we can.
- **Accountable** - We recognise our accountability to God and to those we seek to help, whilst acting within the limits of our own knowledge and skills.
- **Confidential** - We respect the confidentiality of those we help, while recognising that the physical and mental well-being of any vulnerable party must always be paramount.
We strive to achieve these values through the intercession of the Holy Spirit, through prayer, friendship, mutual support and encouragement.
## **04 WHO ARE WE?**
- **06 MESSAGE FROM THE CHAIR AND CEO**
- **10 OUR WORK, OUR IMPACT**
- **34 GOVERNANCE AND MANAGEMENT**
- **46 AUDITORS’ REPORT**
## **49 FINANCIAL SUMMARY**
- **50 CONSOLIDATED ACCOUNTS**
- **79 LEGAL AND ADMINISTRATIVE DETAILS**
**80 THANK YOU**
**3**
## **ONE MILLION ACTS OF KINDNESS**
No, we don’t actually count every smile, every hug, every encouraging word. We’re too busy preparing food, delivering medicines, phoning people who can’t get out, visiting prisoners, raising funds, providing furniture, making soup, distributing grants, running kids’ camps, sorting clothes, training the next generation…
But we do know that each gesture adds up.
That’s who we are.
The SVP.
Turning our concern into acts of kindness.
Every day. Since 1833.
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Acts of kindness include…
Numbers of visits or calls to
Older People 259,772
Practical help provided Families 43,168
8,501 Transport People with Mental Health Issues 13,199
8,112 Money Others 7,640
7,453 Furniture Refugees 5,219
3,195 Clothes Homeless 2,842
1,476 Fuel Offenders 1,867
1,466 Electrical Appliances People in Hospital 886
Total: Total:
30,203 334,593
Our people Meals provided
9,083 Members Through our Support Centres 45,103
798 Volunteers Through our Food Banks 34,345
280 Staff Through Home Deliveries 28,412
10,000 Young people Through our Soup Runs 2,790
171 Temporary Auxiliary
Members
Total: Total:
20,332 110,650
**----- End of picture text -----**
**4**
**The SVP is working to tackle poverty and the causes of poverty throughout England and Wales by bringing a blend of services and support to people in need in our local communities, whether that support is for an hour or a lifetime…**
**9**
## **Support Centres**
located outside city centres in areas of deprivation and providing a range of support services including food parcels, hot meals, debt advice and counselling, as well as a warm place for a cup of tea and a friendly chat.
## **Summer 19 Camps at 7 different locations**
give children the opportunity to have a summer holiday full of exciting activities (paused in 20-21 due to Covid).
**876**
## **Members groups known**
**as ‘Conferences’** , who
organise visits and other support to people in need in their community.
## **Not to mention…**
**Community 44 Shops** which are generally located in deprived areas and provide low-cost goods as well as accepting donations of secondhand items.
**Housing provision Holidays for families Campaigning for social justice Prison visiting and Approved Premises 768 school groups running in Catholic schools Support for SVP overseas projects in 6 countries** (see p31)
**5**
## **THE CHALLENGE OF COVID**
## **“We knew we would need to take risks if we were to rise to this unfolding challenge”**
## _**Elizabeth Palmer CEO and Helen O’Shea National President**_
In 2020, the onset of the coronavirus pandemic presented a huge challenge to our work. It became
apparent early on that the people we support - primarily older, isolated individuals, families and people with complex needs - would find themselves in greater need, especially as other support services, such as food banks and social groups, were either severely curtailed or closed.
Much of our work relies on our volunteer Members, our Community Support Centres and shops. Lockdowns and social distancing severely restricted our core activities of befriending and visiting people who are isolated, lonely and in need, and the work of our shops and centres in local communities. It also quickly became evident that the number of people needing our help was expanding rapidly, and we knew we would have to take risks if we were to rise to this unfolding challenge.
Most of our volunteers were classified as vulnerable to Covid-19 because of their age. As the crisis expanded, we faced not only losing their active contribution, but also the possibility of being unable to deliver many of our core services to those who need them most.
The pandemic also presented a major financial challenge. Our Members, who are organised in parish groups, generate funds for SVP activities through church collections, and with church services curtailed, this income stream dried up. We also generate funds from our network of 44 charity shops and seven support centres but, as they had to close during periods of lockdown, so did another vital income source.
The harsh reality of the pandemic meant we had to meet increased need with reduced resources. Increasing numbers of people were slipping into poverty, many of whom were previously solvent and had never needed to seek help before. Meanwhile, isolation became a reality for millions. As the pandemic took hold, our Members were unable to visit, and some of our local support centres had to close their doors. As people are at the heart of our service, we innovated, adapted and found new ways to fulfil our mission.
**6**
## **Addressing the challenge**
As the first lockdown was announced, we formed a crisis management team to co-ordinate our response. We set up monthly online meetings to provide inspiration and practical support to our Members. We offered training via Zoom to support and reinforce connection between Members, staff and the people we serve. Our weekly webinars became a vital source of hope and encouragement and attracted over 1,000 attendees in total.
The pandemic stimulated a rise in volunteering, and we seized on the growing appetite in our communities to offer help in a crisis. We streamlined our application process, making it faster and more efficient. We launched a new Membership category – temporary auxiliary member (TAM) – which attracted 160 new volunteers who could make deliveries of food parcels and medication. We also partnered with other charities to develop a volunteering toolkit to support this desire to volunteer in our parishes.
Undeterred by Covid restrictions, our Members turned to the telephone to escalate their support
**----- Start of picture text -----**
Our weekly webinars
became a vital source of
hope and encouragement
and attracted over
attendees
**----- End of picture text -----**
for those in need, with one group quadrupling the number of individuals they support from 30 to 120.
We set up a hardship fund of £100,000 to which Members could apply for grants to support people in need. To date, we have fulfilled 260 requests, averaging £406 each, and we have set aside an additional £50,000 for further requests.
**7**
_Preparing food in a support centre_
**“The only thing that kept us optimistic in the very first days in lockdown was the advice from St Vincent’s”**
At the start of the pandemic, we were operating six community support centres. Each is unique and represents our response to the needs of their communities, providing for example debt, housing and benefits advice, skills training, food services, counselling, cafés, and support for people experiencing homelessness, to name just some of the services available. Undaunted by the pandemic, some services continued in new formats, such as debt advice by telephone or food bags which could be collected outside our support centres. We even opened a new centre in Southend during the height of the pandemic to focus on the homeless community. To further demonstrate our commitment to the people we serve, we are opening a new centre in Cardiff and one on the Wirral.
We receive thousands of requests for help each year. Requests coming via our website increased by 75% for food, 50% for clothing, and 67% for household appliances. We sought to meet the vastly increased demand for essential food items by delivering to households, as well as by providing nutritious meals wherever possible. During the winter months alone (December 2020 to March 2021), we distributed around 34,000 meals. Many were prepared by our support centres and others by those of our groups which run large food distribution programmes.
## **Rising to the challenge**
In common with all charities, the pandemic posed financial challenges. Our shops provide a vital income stream, and their closure prompted us to innovate and adapt. We introduced click and collect services, using eBay, Etsy, Depop and social media to offer our quality pre-loved goods. This has been a huge success, providing a crucial new income stream and a model of future growth for our retail arm. While we had to close two shops permanently, we also opened a new one.
The challenges of the pandemic also
supercharged our digital fundraising. We invested in a Digital Fundraising Manager; we experimented and tested new fundraising approaches including a Giving Tuesday campaign; and we pivoted our major fundraising campaign, Rise to the Challenge, which had been planned before the pandemic, to raise substantial additional funds to realise our board’s ambitions and deliver its strategy.
We aligned our fundraising with our annual Awareness Month campaign in September, investing in both print and digital advertising to raise our profile at a time when many of our traditional fundraising channels were closed.
The investment paid off. Press coverage increased dramatically - over 100 articles and interviews appeared in the media between September 2020 and March 2021 - with BBC Breakfast TV interviews from our Leeds and Newcastle centres particular highlights. The number of national online donations increased by 143% compared with the previous year, and online income rose by 138%. Our first foray into the international 24-hour fundraising campaign Giving Tuesday generated over £20,000, and our Christmas catalogue achieved unprecedented sales.
As a charity whose history in Britain dates back to 1844 and whose membership age profile is heavily weighted towards retirees, one might expect us to be slow to change. But this year, faced with the greatest health crisis in 100 years, we adapted and reacted to need swiftly. Driven by our foundational values of responsiveness, accountability and generosity, we embraced change, recruited in key areas when other charities were losing staff, acted boldly, thought laterally and have been strengthened as a result.
We remain humbled by the selfless dedication of our Members, volunteers and staff, who, driven by their passion to address need in our communities, rose to the challenge in an amazing, inspirational way. We are grateful to our funders, who supported us through a difficult year, and we look forward to their continued support as we seek to expand our work in response to the increasing need across the England and Wales.
## **Elizabeth Palmer, SVP Chief Executive**
**Helen O’Shea, SVP National President**
**9**
## **BEFRIENDING IS AT THE CENTRE OF OUR MISSION**
Time is a precious commodity. After all, we only have a limited amount. Giving people our time shows them we care. That’s what befriending is about, and that’s why it’s so special.
Befriending benefits not only those whom we support, but also the befrienders themselves. It’s not surprising that befriending relationships sometimes grow and blossom into life-long friendships.
For many people, even before social distancing rules became a way of life, loneliness was their only companion. For others, as lockdowns took effect and people began to stay indoors, this was their first experience of isolation. Before the pandemic, our Members used to visit people in their homes, but now they had to find new ways to listen, understand and offer support. Over the course of the year, that’s what we did, telephoning, dropping off food, transforming solitude to solidarity.
## **“I am truly grateful for all that you do”**
## **“I don’t know what I’d do without you”**
Before the pandemic, although wheelchair bound, Mary liked nothing better than putting on her best and going out. Even at 89, she was the life and soul of any party. But since the first lockdown, she hadn’t been out except for hospital visits, and this had a huge impact on her well-being.
Three members of the Society took it in turns to ‘visit’ or phone her each week. An SVP member would go into the garden and talk to her through the window to agree what shopping she needed. The shopping was later put away while a member chatted with Mary through the window.
The frequent phone calls meant a lot to Mary, as did deliveries of ‘cheer up’ parcels such as an Easter egg with a bunch of daffodils and a card with a prayer from St Vincent. She repeatedly
says how wonderful it is to have our help: “I don’t know what I’d do without you. I am very lucky to be helped by so many kind people from the SVP.”
**The time spent with Mary is a great example of how, under lockdown, SVP members met the challenge of finding new ways to stay in touch with the people they support.**
Over 60% of our Members managed to stay in contact with all of the people they befriend. Prevented from meeting in person, Members sent handwritten letters and cards, delivered Christmas hampers and Easter baskets, sent emails and WhatsApp messages, Skyped and Zoomed. Where possible, they met for chats through the window, or in the garden, or went for walks in the park. Mostly though, they turned to the telephone.
**10**
_Telephone befriending_
## **“There’s a will to help”**
SVP members in Sidmouth became a great support to their local community through telephone befriending during lockdowns. They initially phoned around 30 people, but word soon got out, and that number grew to 136. New volunteers came on board, doubling their capacity. They then expanded their services to delivering shopping for those in isolation and even to providing emergency DIY work for those in desperate need.
## **Our members made**
**250,571 phone calls to beneficiaries across England and Wales**
Sidmouth Conference President Peter McGauley says: “I believe the pandemic has brought out the best in people. There is so much goodness in the world, and a will to help.”
They made a total of 2,994 phone calls, as well as 157 shopping trips.
**Visiting someone once a week for a cup of tea and a chat may seem insignificant, but that gesture, the gift of time, is something precious.**
**11**
## **A NEW GENERATION DRIVEN BY COMPASSION**
Our work has a habit of developing organically. Just as the Sidmouth Conference’s telephone service led to other services, so our adult activities have spun off work among young people. We have over 8,000 adult volunteer members, but also several thousand young people, organised by age, in different groups: Mini Vinnies, Youth SVP, B-Attitude and SVP1833 groups. Although schools were closed during some parts of last year, some groups were able to meet and help in their communities.
**“I am very grateful for what you and the SVP did for me today. Thanks from the bottom of my heart”**
**12**
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Mini Vinnies delivering Christmas
cheer to a care home
**----- End of picture text -----**
**Mini Vinnie 647 Groups Youth SVP 97 Groups B-Attitude 24 Groups**
All areas of the SVP have demonstrated resilience in the face of the pandemic. Students from the newly established University of Birmingham SVP1833 Conference successfully completed their first project during the initial lockdown, working with people experiencing homelessness in the city, and later staffing local food banks.
**Our young people brought energy and enthusiasm to support their communities during the pandemic, collecting clothing for people living on the street and essential items for food banks, and making cards for individuals experiencing loneliness.**
## **“You made this a special Christmas”**
One school with a Mini Vinnie group prepared Christmas gift boxes for the residents in a nearby care home. Parents donated presents suggested by the care home, which the Mini Vinnies helped to pack into boxes. They also wrote personal letters, prayers, poems and jokes for each box to bring additional Christmas joy to each of the 38 residents who, due to Covid-19 restrictions on care home visitors, had been feeling particularly lonely.
When the boxes were delivered to the care home on the last day of term, the manager could not believe her eyes. She wrote to us later: “Thank you to all who donated cards, gifts, letters and treats to our lovely residents to help make this a special Christmas.”
David, aged 10, adds: “I am very pleased and happy that the residents loved their presents. It makes me feel good that I have helped people.”
**13**
## **THE BAROMETER OF THE SOUL**
**“Charity is the cement which binds communities to God and** _St Vincent de Paul_ **persons to one another...”**
Following the devastating closure of our portfolio of shops during the first national lockdown, we were grateful to be able to resume trading with renewed enthusiasm. Our landlords were supportive and receptive to our requests for reduced rent and payment holidays. Our shops were also very grateful for the timely grants we received from local businesses and councils along with financial support from generous individuals.
When restrictions eased in the summer of 2020, the sense of relief from our staff and customers was palpable, and our shops sales were strong. Our shops are mainly located in areas of deprivation, and our customers appreciate and welcome the opportunity to buy quality goods at reasonable prices. SVP shops also provide people with a way to volunteer in their local community, a vital conduit for people in need to connect with our services and with other people.
**Volunteering with the SVP means people become part of our Vincentian family with all the care, support and fulfilment that brings. If volunteering is a barometer of the soul, the support shown by our army of dedicated volunteers means the Society is set fair for a bright future.**
## **“I can’t imagine life without the shop”**
Tina is one of our shop volunteers who lives on her own following her husband’s death. She was lonely during lockdown because she couldn’t go to the shop, to church, or visit her grown-up children. Life was a real struggle.
The shop staff regularly kept in touch with her during her enforced confinement, and as soon as she could return to her voluntary work, she did. She says: “I can’t imagine life without the shop. I love being here. I don’t think I’ve stopped talking since we re-opened and got back together; chatting to staff while we’re working, sorting stock, talking to customers and reminiscing about the old days. It’s great. I recommend that others who are lonely do it too.”
**14**
One ofour 44 community shops
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The SVP is a volunteering organisation, and people like Tina are its lifeblood. We couldn’t run our shops without our volunteers, and age isn’t a barrier – we have several volunteers in their eighties. Without their time, talent and energy, our amazing organisation would not exist.
The pandemic saw a rise in volunteering as people looked for ways to contribute to their local communities. To support this growing appetite for giving back, we streamlined our application process, making it faster and more efficient. We recruited volunteers who could make ‘knock and drop’ deliveries of food parcels and medication, and we ensured our volunteers were fully supported with practical advice and training.
**“Thanks so much for coming by, and for all your help. I am so grateful and still speechless… I pray that God continues to give you strength”**
## **“It’s just wonderful to be able to do something”**
When lockdown started, Zen felt helpless. She says: “It was difficult knowing that there were so many people in lockdown who were unable to go to the shops without potentially exposing themselves to Covid-19. I reached out to my local SVP group and found out our local parish foodbank had closed, and people were bringing food to the presbytery instead and that they needed extra volunteers. I said I had a car and could help.”
Zen started volunteering at her local SVP food bank in Highbury, London. She collected bags of food from the presbytery and delivered them to vulnerable families in the area who were housebound and struggling to access the basics.
Zen was one of 157 inspiring ‘knock and drop’ volunteers across England and Wales who joined the SVP to give their time during the Covid-19 crisis.
As Zen concludes: “It’s just wonderful to be able to do something.”
## **“Volunteering means making new friends”**
Pamela regularly visits an older woman who hadn’t left her house since her husband died and had become frightened to go out. Pamela says: “We talk regularly on the phone, and she proudly talks about her life and work. She loves cake, but she is no longer able to cook, so she really appreciates it when I deliver a homemade piece of cake. To me, volunteering means making new friends.”
## **“Volunteering is like being in one big family”**
Sarah began volunteering with the SVP in December 2017 through a Job Centre placement and has stayed ever since. She says: “I volunteer around my children, so when they are at school I come to the shop and help out. I love working in the shop. The staff and volunteers have made me feel so welcome. It’s like one big family. I have received training in all areas of the job and have gained so much confidence. I highly recommend volunteering with the SVP.”
**17**
## **SHELTER FROM THE STORMS OF LIFE**
Thousands of people were furloughed during the pandemic and survived on lower incomes. Others were less fortunate and lost their jobs. Many fell below the poverty line for the first time. By January 2021, six million people were claiming Universal Credit, a 98% increase since March 2020. As the demand for our support increased, we found practical ways of helping people such as paying bills, awarding grants and giving food vouchers.
## **“You restored my faith in human kindness”**
Before the first lockdown, Sally became unwell and had to go on sick leave from her job at a hospice. The illness was hard to diagnose, and progress was delayed by the lockdown. Coming to the end of her half-pay sick leave, she found herself struggling financially. She was referred to her local SVP group who made her a grant of £250. This was enough to get her through a rough patch, and she eventually recovered from her illness and is now back at work.
She says: “Thank you for the wonderful cheque. It has certainly helped me in these unfortunate times. You have restored my faith in human kindness. Words cannot express how grateful I am for your help. Thank you.”
**Members provided practical assistance on 53,254**
**occasions**
**53%**
**was food related - usually delivered to the doorstep due to pandemic restrictions and**
**15% were financial, usually to pay bills**
**18**
Ilj
Tea forolderpeople
crt a support centre
19
Delivering furniture
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## **“Thanks for all your help and please express my gratitude to everyone who contributes. God bless you all”**
## **A chair is more than just a place to sit**
Furniture represents so much more than chairs, tables and beds. Being given these simple objects means someone cares. It is life-changing when families can share mealtimes around a table, sleep in their own beds every night and live with dignity. St Vincent’s Sheffield specialises in providing furniture to people across the city suffering hardship in many forms, helping to turn a space into a home.
Sometimes, the need is very specific and sometimes urgent.
Providing furniture to turn accommodation into a home is central to the service provided by St Vincent’s Sheffield. After the team provided beds for a single mother, Sheffield City Council said: “The furniture has made a massive difference to this mother’s mental state and to her well-being. She is no longer worrying about the state of the children’s room and feels comfortable knowing they each have their own bed now. The children are happy to have a space of their own.”
Meanwhile, in Newcastle, we bought a new washing machine for a family with six children, because the mother had been doing all the washing by hand. One of her daughters said: “Thank you. Mum was so happy.”
## **“We were very impressed by the fast service”**
In January 2021, St Vincent’s Sheffield was contacted about an urgent referral from local charity Family Voice for a family in a stressful situation.
The parents and two children were moving at short notice out of one councilprovided accommodation into another and desperately needed beds for the whole family at the new property.
After speaking to the referrer and understanding how urgent the situation was, the St Vincent’s team was able to step in and provide beds for the family the day they moved into their new home.
The referring charity says: “We were very impressed by the fast service provided for this family in real need. Thank you to the fantastic team working at St Vincent’s who enabled this family to move into their new accommodation.”
**Sheffield furniture project delivered a total of**
**5,111**
**items of furniture, helping 1,721 people**
**21**
## **Food provided with love**
The past year has seen a massive increase in foodbank use. According to the Trussell Trust, foodbank use rose by a third in 2020-21. People can feel ashamed to ask for help, yet when desperate to provide for their families, a foodbank offers a lifeline. While a lack of food is hugely pressing, this sometimes masks other needs. The SVP’s holistic approach can often be helpful at these times.
For us, people are not cases, they are individuals. There is no one solution which fits all. We strive to listen and respond in the most appropriate way. Often, people come to us with an urgent problem, but over time, we help them with many other needs. Because of the breadth of our experience, we are able to help people not only with practical concerns, but also support them with emotional and spiritual issues.
## **“St Vincent’s has really helped my family through this”**
During the first lockdown, a man arrived in the queue for food. He was obviously uncomfortable about needing support and took food for his family without any communication other than a muttered ‘thank you’.
Over the weeks, we built up a relationship with Darren, and one day, he asked if we had books as his girls had read everything in their house. We gave him some books, and the following day, he returned with his six-year-old daughter bringing us a dandelion as a gift for the books.
Darren had always worked, but he had lost his job during the first the lockdown. We helped him to claim Universal Credit and then to secure employment by supporting him with things such as printing his CV and providing suitable clothes for him to attend interviews.
He said: “I was at my wits’ end. I never thought I would be in this situation. St Vincent’s has really helped my family through this.”
**The need for food was greatest in the winter months. Between December 2020 and March 2021, around**
**34,000**
**meals were supplied by Members and Support Centres across England and Wales, including Christmas dinners, hampers and food parcels.**
**22**
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Dishing up meals for the hungry
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**“Thank you for the kind food parcel. You are angels. My cupboards are now fully stocked for me and my two children”**
## **“The SVP eased me through a very rough time when I was really low”**
One of our volunteers has been working closely with Janet, a woman in her fifties with complex medical issues, including early onset dementia and anxiety. Janet had lost all her confidence due to a lack of support during the pandemic and was facing financial difficulties.
Our compassionate and resourceful volunteer liaised closely with our foodbank in Southend to provide her with bespoke food parcels tailored to her dietary needs. She also sourced essential household items such as a slow cooker, and a whiteboard and pens to keep track of appointments so Janet could continue to live independently.
This help, along with support from local partners with form filling and medical appointments, meant that Janet could keep her head above water. As she herself puts it: “The SVP has been a fantastic help and eased me through a very rough time when I was really low. Thank you to all the wonderful helpers.”
**During the lockdowns, when out of school clubs were shut down, our Community Support Centres became a hive of activity for parents and guardians providing activities, nutritious meals and company for children denied the camaraderie of their peers. One parent said: “Thank you very much for the most fabulous service we have ever experienced in our life.”**
**23**
_Foodbank use increased during the pandemic_
**“No-one has ever done anything for me and my girls like you have. I’m speechless”**
## **CATALYST FOR KINDNESS**
No organisation can have all the answers, so when we cannot provide the specialist help needed, we partner with others to make sure that people get the support and help they need.
Throughout England and Wales, SVP Members and our Community Support Projects have partnered with local organisations to provide bespoke support. We have joined with food companies, storage facilities, partners who can give specialist advice on debt, housing, benefits and asylum seeking, to name only a few, with the sole intention of providing the best care and support possible. The needs of the people we serve and their dignity always inform our actions.
Partnerships take many forms. As well as partnering with other organisations, we give members of the general public opportunities to partner with us each time they bring cans of beans or bags of apples to one of our food banks. Or when they drop off used clothing at one of our shops. Or when they donate through our website. Some people who want to help are busy or are unclear how to get involved. By offering them the chance to partner with us through donating or fundraising, or by volunteering, the number of acts of kindness grows. No gesture is too small; they all make a positive difference to someone’s life.
**“Thank you very much for the enquiries you made and the advice you gave Mary. She has taken a lot of courage and strength from your communication!”**
## **“The timing could not have been better”**
Community TechAid is a south London charity which helps to bridge the digital divide. Working with local schools, disability, refugee and other community-focused organisations, they collect unwanted computers, tablets and mobile phones, refurbish them and deliver them to people in need.
The organisation was started during the first lockdown with volunteers refurbishing devices out of their own homes. However, as they grew, it desperately needed space with secure storage, but it was not yet registered as a charity and had no funding.
St Vincent’s Brixton came to the rescue in late September 2020, providing access to their hall and a secure storage cupboard at a peppercorn rent.
A TechAid representative said: “The timing could not have been better. By late December 2020 we had a well-organised operation up and running, with capacity to increase our output enormously.
“St Vincent’s should take enormous pride in enabling so many devices to reach those who need them most, including school children, refugees and asylum seekers, people with disabilities, senior citizens, families in refuges and more. On behalf of all our volunteers and those we serve, we express our gratitude and love.”
**25**
## **LOCKED UP, BUT NOT LOCKED OUT**
According to the Ministry of Justice, there are more than 83,000 prisoners in England and Wales, around 80% more than 30 years ago. Some 30% of prisoners have learning disabilities, up to 90% are estimated to have mental health issues, some have had a poor education and others have suffered trauma such as being abused. All this means they have been failed by society, but that does not mean they should be abandoned. The SVP has a long history of supporting people in prison, helping with rehabilitation and demonstrating the redemptive power of kindness.
One Society Member, a regular prison visitor, realised that people in prison miss physical contact. It is well known that the simple act of caring for an animal is proven to help mental health. The calming effect of holding an animal and stroking it can be beneficial for people suffering with mental health problems, such as depression. Additionally, caring for an animal’s needs gives purpose and is rewarding. And so, Vinnie Bunnies came into being.
**“Thanks so much. Your help is really appreciated. I am so grateful that I could share my situation with you. I’m very relieved”**
## **“The scheme has made a significant positive impact on individuals”**
At HMP Hindley, we provided a bunny for prisoners to take care of and funding to build a rabbit hutch. The project gradually expanded and now, in a green area next to the chapel, there is a small complex hosting three rabbits, two guinea pigs, eight finches and six budgies. The area is affectionately nicknamed ‘HMP Warren’ by the prison residents.
As well as providing a safe space and a place to support improved well-being, the scheme has had a significant positive impact on individuals. SVP member, Tony Blackburne, explains: “One lad was almost suicidal until he joined in the construction phase. The simple act of doing something with his hands allowed him to take his mind away from the constant introspection that comes from being isolated for so long. It made such a huge difference to him. Another one of the lads takes care of the rabbits, cleaning them out and sitting with them. It’s the focus of his day and recharges him before going back to his cell.”
**It’s a simple thing targeted at a small number of individuals, but it’s making a huge difference. The SVP also provides prisoners with reading glasses, puzzle books and other simple items to alleviate both the boredom of incarceration and their sense of isolation. These small gestures also give a sense of worth and value to people in a system which can strip them of their dignity.**
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One ofour Vinnie bunnies
_Gardening helps residents with mental health_
## **A sense of worth**
Once individuals leave prison, they often flounder. More than 70,000 people are released from prison every year, yet almost half are back inside within 12 months. This depressing figure is largely due to the experiences of ex-offenders on their release.
Around ten percent have no families to help them when they come out and are left to fend for themselves. In Newcastle, we run two approved premises to accommodate men who have committed serious offences and have been assessed to pose a high risk of harm when they are released from prison. We help to prepare them for life back in society.
In addition, we run a hostel in Newcastle for people who find themselves homeless, who come to us with mental health problems, long criminal pasts, bereavement issues, low confidence and poor self-esteem. Some are refugees, while others may have active substance misuse issues. We help residents to move on to independent tenancies.
**34 individuals supported in our hostel in 2020-21**
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## **“Spending time in a green space helps with mental health”**
We have a garden where residents can go for fresh air, a chat with others around the table when the weather is good or for some peace at quiet times during the day. Residents say that spending time in a green space helps them with their mental health. Mick said that helping with the weeding and planting new shrubs and plants is good exercise. The residents have taken the responsibility for watering all the vegetables that we grow in the greenhouse, and they are interested in expanding this area to grow more of their own food.
Meanwhile, indoors, Alf found cleaning therapeutic and often volunteered to help with routine domestic chores. He also learned to play the guitar and would play it in communal areas, which helped to raise everyone’s morale during the height of the pandemic.
**Our Approved Premises in Newcastle accommodated**
**188 residents in 2020-21.**
Reg had a problem with alcohol use. With the support of his keyworker, he began to use a diary to record his use of alcohol, and eventually he agreed to engage with an agency to help him address this. When he moved successfully into the community, he continued to engage with the agency for ongoing support with his alcohol issue.
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_India is one of the countries supported by our Twinnage programme_
**“We should take as a maxim never to be surprised at current difficulties, no more than at a passing breeze, because with a little patience we shall see them disappear.** _St Vincent de Paul_ **Time changes everything”**
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## **HANDS JOINED ACROSS THE WORLD**
While the bulk of our work takes place in England and Wales, our Members never lose sight of the often desperate plight of people in the developing world. Most of our Conferences are twinned with SVP Conferences in India, Romania, Grenada, Guyana, Sudan or South Sudan, and regularly award grants to Members in these countries, offering practical and financial support for sustainable projects which offer long-term solutions to the ever-present problems of poverty, illness and lack of education. Last year we transferred around £700,000 in financial aid from ‘over here’ to make a huge difference to people in need ‘over there’.
## **“SVP members stepped in to support them with food and medicines”**
Mihai is 53 and has diabetes. His wife Liliana is 50 and has colon cancer and secondary liver cancer. The couple have two children, now aged seven and eight, whom they adopted from the local orphanage after Liliana recovered from a serious operation. The seven-year-old has ADHD and the eightyear-old has autism. Liliana’s health has recently deteriorated. She is now confined to bed and needs help with personal care.
At the end of January 2021, Mihai and Liliana both contracted Covid-19. Mihai’s symptoms were severe enough for him to be hospitalised for nine days. He requested an early discharge from hospital before he was fully recovered in order to look after his wife who suffers acute fatigue and chest pain. The family’s monthly income consists of Liliana’s medical benefit of £140, child allowance of £90 and Mihai’s salary of £355.
Neighbours initially helped the couple with food and other support, but this has stopped. Local SVP members have stepped in and support them with food and medicines, using money from a grant sent to them from England and Wales.
**We sent a total of**
**£765,910 to overseas projects in 2020-21**
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## **A GROUNDSWELL OF ACTIONS**
The pandemic has presented enormous challenges to our way of life, necessitating innovation, determination and resolution to meet them. Many of the current problems in England and Wales, however, are deep-seated and will endure after the pandemic has abated, unless we act now.
Inequality, lack of opportunity, lack of access to resources or education, prejudice and discrimination, poverty, homelessness and so on have blighted our communities for years. These are systemic issues and require a systemic response.
The SVP is uniquely placed to contribute insights to the political debate on these issues. Our Members witness the effects of government policy at grassroots level, giving our voice authenticity and significance. We have set out to actively pursue social justice through policy advocacy to change policies, practices, ideas and values that perpetuate inequality, intolerance and exclusion.
We will focus on four specific policy areas during the next three years:
## **In-work poverty and insecure work.**
In-work poverty affects roughly 18% of the UK working population according to a recent study from the Institute for Fiscal Studies (IFS). Before the pandemic, roughly 3.6 million people, one worker in nine, was in insecure work, leaving them exposed to massive drops in income or unsafe working conditions. We will use our experience of supporting those on low incomes to inform the debate on this issue.
## **Levelling up, the UK Shared Prosperity Fund and regional inequalities.**
The SVP can play a role in ensuring the voices and experience of people in so-called ‘left behind communities’ are heard when new services and policies are developed. Our experience of the issues faced by communities in more deprived parts of the country will inform our response to government proposals surrounding regional inequalities.
## **Digital poverty.**
The importance of online communication became paramount as the pandemic robbed us of faceto-face contact. The latest in-depth study on the ‘digital divide’ by the Office for National Statistics (ONS) shows that the number of adult ‘internet non-users’ was above 5.3 million or 10% of the UK adult population (as of 2018). We will seek to add our voice to the discussion around digital inclusivity.
## **Migrants, refugees and asylum seekers.**
From a Vincentian perspective, the issue of migrants, refugees and people seeking asylum is a central concern. Pope Francis has spoken many times about the importance of helping and welcoming migrants and refugees. The SVP intends to meaningfully contribute to campaigns on this topic given its frontline experience in supporting refugees and migrants, particularly at its support centres in Leeds and Bradford.
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**----- Start of picture text -----**
Art therapy in a support centre
**----- End of picture text -----**
## **A million small gestures of kindness**
## **In 2020-21, we:**
**Hired a Social Policy Manager and our Board approved a new and revised strategy.**
**Joined the national Keep the Lifeline campaign to make the temporary £20 uplift to Universal Credit permanent.**
**Began to build strategic relationships with key national advocacy partners and several faith groups.**
**Submitted written evidence to a government consultation on its new plan for immigration.**
None of us will forget 2020-2021 — one of the most challenging years in the SVP’s history. During the pandemic we lost several of our members to Covid (at least 78, but possibly many more), and among the people we visit and support, at least 394 succumbed to Covid, but again, the numbers may well be much higher. Each loss brings grief, but with it comes a focussed determination to extend our reach, to help more people, and to bring equality to our communities.
We will accomplish this monumental task through a million small gestures of compassion, because it’s in the everyday acts of kindness that we make an enormous difference to people’s lives. It’s in the raised voices of our members changing the world by doing the little things well that we will seek to influence government policy.
As we look forward with renewed vigour to the challenges ahead, we not only remember those we have lost, but also those whose lives we have reshaped for the better. We will recall the innovation we employed, our determination to make a difference, and the way we continued to serve individuals and families during the toughest of times. We continue to rise to the challenge.
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## **GOVERNANCE AND MANAGEMENT**
**“Charity must never look to the past, but always to the future, because the number of its past works is still very small and the present and future miseries that it must** _Frédéric Ozanam_ **alleviate are infinite”**
As part of an international lay Christian organisation, Catholic in origin, character and traditions, which respects religious liberty and the value of all God’s people, the objects of the Charity are:
- The relief of poverty and sickness without differentiation on the ground of race, colour, creed, ideology or sex and in particular, but not so as to limit the generality of the foregoing, to bring spiritual and/or material solace to the sick or individuals who are in conditions of need, hardship or distress due to their social, economic or other circumstances.
- The undertaking, in any part of the world, of such other object or objects which are exclusively charitable according to the law of England and Wales as the Charity in its discretion shall see fit.
The Society is constituted under the laws of England & Wales as a company limited by guarantee (Company Number: 3174679). The Society is also a Charity registered with the Charity Commission (Charity Number: 1053992). The overarching governing document of the Society is the Articles of Association and is to be read in conjunction with the International Rule and the National Statutes.
Where there is a conflict between the Articles of Association and the National Statutes of the Society, the Articles will take precedence. However, there is an annual exercise that is in place to ensure alignment where practicable to do so.
The Articles of Association describe the Society’s objects, guarantees, powers and their limitation. They define ‘Membership’ of the Company (i.e. National Council) and describe the governance processes, including how changes and decisions are made.
The National Statutes provide the framework for the governance and operation of the Society. Detailed management of the Society’s affairs are covered in relevant Policies and Procedures, which should be treated as a part of the Rule.
The first International Rule was introduced in 1835 and is regularly reviewed and updated by International Council General of the International Confederation of the Society of St Vincent de Paul.
The Society adopts this corporate governance framework in order to deliver its strategic priorities and objectives and to ensure it complies with the Charity Commission’s legal and regulatory requirements (The Charities Act 2011) and adheres
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to the legislative requirements outlined in the Companies Act 2006.
The Society believes that effective governance is based on ensuring there is a culture of compliance across its works and practices. This is implemented by policies and procedures, clear accountabilities, external and internal audit plans, robust and resilient risk assessments and a culture of continuous learning.
## **Board of Trustees**
The Board of Trustees consists of a minimum of nine and a maximum of thirteen people, including the Chair. The Board is responsible for the overall governance of the St Vincent de Paul Society (E&W). On the election of a new National
President by the National Council, the President shall nominate up to five Trustees, at least three of whom are current Central Council Presidents, and shall also nominate a Vice President and a National Treasurer. Each Trustee must be formally confirmed by the National Council to serve for a period of five years. Up to five new Trustees are selected halfway through the President’s five-year term to act as continuation Trustees and serve for a term of five years. Up to four non-Members of the Society may be appointed as Trustees provided that they commit to the values of the Society and have skills which are required by the Society.
This process was last enacted in 2017 with the new National President and Board now over halfway through their term.
**----- Start of picture text -----**
Name Responsibility
**----- End of picture text -----**
|**Helen O’Shea**|National President|
|---|---|
|**James Bellamy**|Senior Vice President|
|**Christine Knight**|National Treasurer|
|**Ann Harris**(until July 2020)|Membership Development|
|**Ann Towey**(until July 2020)|General Portfolio|
|**Dermot McGilloway**(from July 2020)|Retail|
|**Elaine Heyworth**|Twinnage (from Oct 2020)|
|**Ian Kempsell**|Membership Outreach|
|**Mark Thompson**(from July 2020)|General Portfolio|
|**Michael Willcock**|Youth|
|**Raymond Daley**(until July 2020)|Social Justice|
|**Richard Palmi**|CSPs & Property|
|**Sebastian Muir**|General Portfolio (from Oct 2020)|
|**Susan Roberts**(from July 2020)|General Portfolio|
|**Vince McAllister**|Camps & Safeguarding|
In addition, Fr Paul Roche attends Board meetings as a National Spiritual Advisor.
The selection of Trustees seeks to maintain a balance of skills and experience appropriate to the charity’s activities. An induction programme is offered to all new Trustees to ensure they are briefed on the charity’s objectives, strategy and activities, as well as understanding Charity Commission guidance on the role of a Trustee.
The Board meets at least four times a year to review the performance of the charity, both financially and in meeting its charitable objectives. In line with Charity Commission guidance during the pandemic, the Board met virtually for meetings as well as holding the first ever online AGM. All decisions from these meetings were recorded in the minutes and stored electronically as part of the normal governance process.
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## **Sub-committees of the Board**
## **“Go to the poor: you will find God”**
_St Vincent de Paul_
The Society has established clear levels of delegated authority within which:
These committees are given delegated powers by the main Board of Trustees and each is chaired by a Board member. They are responsible for supporting a specific area of operational oversight and their activities are reported to the Board. As the number and structure of the committees reflects prevailing priorities, they are reviewed and updated periodically.
- some decisions are reserved to the Board alone.
- some to the Executive Trustees (the National President, the Senior Vice President, the Treasurer).
- responsibility for the day-to-day running of the charity is delegated to the Chief Executive who may in turn delegate authority to the Deputy CEO and Senior Management. (The Chief Executive attends all Board meetings; other senior managers attend as required.)
- the Chief Executive is required to escalate high risk and/or high impact issues for the timely attention and consideration of the Board.
- the Board sets the strategic direction for the efficient and effective management of the Society’s funds and strategic roadmap.
- the Board will establish committees, subcommittees or working groups to fulfil ongoing or time-limited governance functions (usually at the start of office of the new National President elect), formed of Trustees, other members, external experts and operational managers.
- the Board regularly evaluates its own performance through the ‘annual Board review’, examining its impact and effectiveness and any improvements required in its organisation or operation.
The Society’s members are organised in local Conferences to carry out the work of the charity. Conferences are grouped together in geographical areas and are overseen by District Councils which in turn report to Central Councils which are structured, as far as possible, to reflect the Roman Catholic Dioceses. The President of each Central Council sits on the National Council. No Central Council, District Council or Conference may be established as a separate charity and all constitute parts of the Charity operating under the delegated authority of the Trustees.
The role of each of the committees during 2020-21 was as follows:
- **Finance:** reviews and approves financial results, budgets and other financial governance matters in addition to fundraising.
- **Community Support Projects:** supports and develops sustainable community projects in appropriate areas.
- **Membership:** reviews membership issues, internal relationships, the structure of the Society, recruitment, training at all levels and oversight of youth matters.
- **Audit & Compliance:** oversees Societywide risks and reviews control systems (Safeguarding, Human Resources, Health & Safety, Risk Assessment and Data Protection) as well as overseeing all internal audit activity.
- **Safeguarding:** ensures that the control systems in place are effective; reviews ongoing case management; delivers training for Conference members and staff to ensure continued awareness and that procedures are followed.
- **Twinnage:** reviews overseas activities from local funding to international grant applications.
- **Camps:** ensures that SVP camps provide a safe and enjoyable experience for young people in accordance with defined Safeguarding and Health & Safety procedures.
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- **Social Justice:** explores opportunities for SVP contributions to the poverty agenda, both within and outside the Society.
- **Property:** reviews and oversees issues and risks relating to SVP property.
The Trustees regularly review the risks faced by the charity to develop appropriate controls and deliver the charity’s strategic aims. The main risks monitored include:
## **• Delivery of safe, effective and**
**personalised poverty relief** , especially in
the context of charitable activities involving children and vulnerable adults
- **Financial sustainability** , especially in the context of the current economic situation
_Mini Vinnies preparing food parcels_
## **Key risks identified during 2020-2021**
## **Financial**
Loss of income from the Charity’s retail arm during lockdown combined with the costs of supplementing the furlough scheme brought new risks for the Society; however, these were offset by the value of grants the Charity was successful in applying for, which in turn ensured the Society continued to operate in an unprecedented climate.
## **Membership**
The decline in Mass attendance across England and Wales during lockdown coupled with the fact that many of the Conference members were unable to visit beneficiaries in person meant that the Society had to quickly adapt how it operated in delivering its mission.
To mitigate this risk, the Society adapted communications with Conference members by delivering increased news bulletins, launching new online training modules and introducing ways to hold Conference meetings online to ensure members felt engaged and supported. We also introduced new types of auxiliary membership and new ways to maintain beneficiary contact to ensure that beneficiary needs continued to be met, as well as introducing a new Hardship Fund for individuals struggling as a direct result of the pandemic.
## **Safeguarding**
The Society saw a decline in reported safeguarding incidents in 2020-21. To mitigate the risk of vulnerable people in enforced lockdown positions finding it hard to report issues in a safe environment, the Society increased its online training awareness for Conference members and staff to help them become more vigilant in their dealings with potential vulnerable groups.
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Shop staffpreparing to
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## **Key Strategic Priorities**
We are over halfway through the five-year strategic plan that was adopted in 2018. This contains six pillars:
- Empower our membership
- Extend our reach
- Embrace innovation
- Raise our profile
- Build a ‘mission ready’ organisation
- Secure financial sustainability
Highlights in our progress towards these goals include:
- Investing in our members through increased online resources and training.
- Launching our Rise to the Challenge campaign and investing in digital fundraising to secure financial sustainability.
- Enhancing our communications to increase our exposure in the media.
Looking to 2021-22, our strategic priorities include:
- Maintaining the momentum of our fundraising campaign.
- Expanding our network of support centres. We have established a goal of one centre in each of our 23 regions. We hope to open two centres in the coming year.
- Recruiting a Membership Support Officer in each of the 23 regions to support our membership. We aim to recruit three officers this year.
- Reviewing our environmental, diversity, measurement and workplace procedures to help us build a more mission-ready organisation.
## **Engagement with employees**
We provide employees with information on matters of concern to them as employees through various channels of communications, including a staff newsletter, the intranet and regular emails from the CEO.
During the pandemic, when about 50% of staff were on furlough at any one time, line managers made a special effort to keep in touch with both staff and volunteers through regular wellbeing telephone calls. In addition, we carried out extra training where possible through online channels and addressed any individual welfare problems caused by the pandemic in a quick and responsive way. We also provided all staff members with a handmade hamper for Christmas.
We solicit feedback from all staff through our annual employee engagement survey. 80% of employees said they felt supported by the SVP during the pandemic, 89% said they were given the opportunity to give feedback, 93% said they have a good working relationship with colleagues and 79% said they were valued at work. One employee said, ‘I really enjoy reading the newsletter that is published for all employees to be kept up to date about what’s happening’. Another said, ‘I think the SVP is a really good place to work, and in a way, I think COVID has brought some staff closer together and we have a real chance to change the future for the better if we continue to work collaboratively and live the values.’
## **Other Undertakings**
The SVP is the custodian trustee for the following three undertakings:
- **The Pen-y-Pound House Fund** was formed in 1973 to alleviate poverty in the Catholic Archdiocese of Cardiff. It comprises a permanent endowment fund which is invested on a recognised stock exchange to provide income for furthering the Trust’s objectives.
- **The TB Hunt Fund** is a permanent endowment fund established with monies left to the SVP by Thomas Bernard Hunt, who died in 1928. His desire was to alleviate poverty among the Catholic poor in the areas of Leicester and Market Harborough. The SVP distributes grants on a quarterly basis to people in need in these areas. In 2020-21, the fund distributed grants totalling £5,200 to 32 beneficiaries.
- **The Francis Thompson Fund** is a permanent endowment fund arising from a legacy whose terms are to invest the fund in quoted investments on a recognised stock exchange to provide an income for Christ the King Conference in Wavertree, Liverpool.
In addition, the Society has oversight of:
- **The David Young Charity** (charity number: 238877) was originally set up in 1860 to aid poor relatives of the Young family. Under a scheme established in 1978 the charity aims to assist, in addition to Young family relatives, those who are in financial difficulties and who, because they are members of the Society, are not eligible to seek support from the Society itself.
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## **Investments**
The Board of Trustees sets the overall performance and ethical parameters within which our investment managers operate. The investment managers report quarterly. Each year they meet with the Finance Committee to review performance and outlook. Performance is measured against the Association of Private Client Investment Managers and Stockbrokers balanced index. The primary objectives of our investment portfolio are to:
- Generate income to fund operational costs
- Provide capital growth to fund new activities
- Offer diversity across asset classes, including fixed interest investments and medium risk equities
The Trustees have adopted an ethical investment policy in line with the teaching of the Catholic Church. During the year, the investments achieved a return of 23.87% against an index of -14.66%.
## **Reserves**
The Trustees annually review the level of reserves to be held by the charity to ensure they are adequate. Free reserves of the charity are considered to be its unrestricted funds not designated for specific spending, less any fixed assets held within unrestricted funds. Our reserves target is to hold a minimum of three months’ spending in free reserves. Free reserves of the charity were £3.68 million at 31 March 2021 (2020: £3.84 million) which represents 4 months (2020: 4.41) of unrestricted general fund expenditure.
In the light of Covid-19, the reserves policy may need to be reviewed as the negative impact of an ongoing pandemic on income could extend beyond a three-month period, and a greater level of reserves may become prudent in the medium term.
## **Management and Policies**
## **Grant making**
The St Vincent de Paul Society makes grants to individuals in need and to organisations, but only to those with objectives similar to those of the Society and where members are directly involved in volunteering. This includes grants to overseas SVP Conferences (Twinnage). All major grants are approved in advance by the Trustees, who ensure that appropriate controls and reporting frameworks are in place.
## **Statement of fundraising practice**
We are extremely grateful for the ongoing generosity and support of our donors and funders during a turbulent and unpredictable year. Due to the pandemic, the national fundraising team had to halt implementing standard fundraising activities such as the annual national raffle and national coffee morning. The usual community fundraising activities organised by our regional support centres, as well as collections and events organised by our members in their local churches, parishes and communities, all had to be suspended.
Despite fundraising staff being furloughed, the national fundraising team launched an emergency Covid-response appeal through a direct mail and email campaign. The Society also participated for the first time in online fundraising initiatives, including Giving Tuesday, which raised double the expectation, thanks to a match funder. We continued to benefit from gifts in wills, donations made through the purchase of alternative gifts in our Christmas catalogue, and our online in-memory giving platform Light a Candle.
We benefited from a few high value individual fouryear pledges to our major gifts campaign, Rise to the Challenge, but the public launch was paused
**“Nature makes trees put down deep roots before having them bear fruit, and even this** _St Vincent de Paul_ **is done gradually”**
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**----- Start of picture text -----**
Support centre volunteers
**----- End of picture text -----**
at the beginning of the pandemic and repivoted to raise funds for our Covid-19 Relief and Recovery Programmes. Our main efforts, both at national and local level, were submitting applications for emergency funding from trusts and foundations, statutory and lottery funders to whom we are extremely grateful. We recruited digital expertise into the fundraising team in October, piloted the use of contactless devices, tested a virtual events fundraising platform and developed a digital fundraising strategy which we hope will improve the online user experience, engage with new audiences and increase levels of online giving in the future.
Our donors can be confident that we comply with the regulatory standards for fundraising. We are registered with the Fundraising Regulator and adhere to the Code of Fundraising Practice which covers the requirements charities must follow as set out in the Charities Act 2016. All our fundraising staff are members of the Chartered Institute of Fundraising. While working from home, as well as repivoting our fundraising efforts, we appreciated many of the free webinars and online fundraising conferences which were organised during the pandemic to support fundraisers during the challenging times.
A review of our fundraising policy and procedures was completed this year and reflects changes in
the fundraising environment due to the pandemic and the provisions of the Code of Fundraising Practice. The Board of Trustees is kept informed of fundraising practice through regular reports from the Director of Fundraising, Communications and Marketing. Several members of the board are personally involved in supporting and promoting fundraising initiatives such as Giving Tuesday and Rise to the Challenge. No professional fundraiser or commercial participator was engaged to carry out fundraising on behalf of the charity. During the year, no failure to comply with the Code of Fundraising Practice was reported and no fundraising complaints were received.
_TapSimple contactless device_
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**virtual fundraising event for our 1 India Student Sponsorship Scheme**
**1 new Digital Fundraising Manager**
**1 match funder**
**13 contactless devices**
**25 gifts left in wills donations made in memory 77 of loved ones 618 SVP Friends new online donors 1,148 donations to wherever they are needed most 1,456 raised in 24 hours on Giving Tuesday £20,480 in donations to go to wherever they are needed most £70,837 successfully applied for by our £264,171 national office**
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staff are grateful for donations
ATTACK
Klllt DOG
43
**“I support the SVP because its work is vital to the health and well-being of our local communities. Its dedicated members and volunteers give so much of their time and energy in the service of people in need; and the Society constantly evolves and innovates to meet the ever-present, ever-** _Aidan Birkett, donor_ **changing needs”**
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## **Remuneration**
The Trustees determine remuneration levels of senior executives, taking into account the potential impact on the wider workforce, the need to ensure the Society can access the types of skills, experiences and competencies that it requires in its senior staff and the levels of pay at charities of a similar size in the sector. Remuneration for the year ended 31 March 2021 comprised salary and pension contributions. There are no other pecuniary benefits for senior or other staff.
## **Auditors**
A resolution proposing that Saffery Champness be appointed as auditors of the charitable company was passed at the Annual General Meeting. The Trustees confirm, so far as they are aware, there is no relevant audit information of which the charitable company’s auditor is unaware. Trustees have taken all possible steps to ensure all relevant audit information has been passed on to the charity’s auditor.
## **Trustees’ Responsibilities**
The Trustees (who are also directors of St Vincent de Paul Society (England and Wales) for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare, for each financial year, financial statements which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these 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 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- 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 the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Trustees are aware:
- there is no relevant audit information of which the charitable company’s auditor is unaware; and
- the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Public benefit**
The Board of Trustees has given regard to the legislative and regulatory requirements for disclosing how its charitable objectives have provided benefit to the public. The Board of Trustees has complied with the duties set out in section 17 of the Charities Act 2011. This report outlines how our achievements during 2020-21 have benefitted the public, either directly or indirectly.
The Trustees’ Report (including the Strategic Report) was approved on behalf of the Board of Trustees (in their capacity as company directors) on 26 November 2021 at the annual AGM and signed on their behalf by
**Helen O’Shea National President and Chair of Trustees**
**45**
## **AUDITORS’ REPORT**
## **Opinion**
We have audited the financial statements of St Vincent de Paul Society (England and Wales) (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2021 which comprise the consolidated statement of financial activities, the group and charity sheets and the consolidated cash flow statement and notes to the financial statements, including 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 affairs of the group and the parent charitable company as at 31 March 2021 and of the group’s incoming resources and application of resources, including its income and expenditure, 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 Companies Act 2006.
## **Basis for opinion**
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 group and parent charitable company 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 trustees’ 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 parent charitable company’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 trustees 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 annual report, other than the financial statements and our auditor’s report thereon. 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.
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 course of 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other
**46**
information, we are required to report that fact. We have nothing to report in this regard.
## **Other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ Annual Report which includes the Directors’ Report and the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Trustees’ Annual Report which includes the Directors’ Report and the Strategic Report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report and Strategic Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees’ Responsibilities set out on page 45, the trustees (who are also the directors of the parent charitable company for the purposes of company law) 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 the 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 parent charitable company’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 parent charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act.
Our objectives are to obtain reasonable assurance about whether the group and parent 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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud, are detailed below.
## **Identifying and assessing risks related to irregularities**
We assessed the susceptibility of the group and parent charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives
**47**
and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent charitable company by discussions with trustees and updating our understanding of the sectors in which the group and parent charitable company operate.
Laws and regulations of direct significance in the context of the group and parent charitable company include the Companies Act 2006 and guidance issued by the Charity Commission for England and Wales.
## **Audit response to risks identified**
We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items, including a review of financial statement disclosures. We reviewed the parent charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.
During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.
regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: **www.frc.org.uk/auditorsresponsibilities** . This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the parent charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the parent charitable company’s members 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 parent charitable company and the parent charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
**Sally Appleton** (Senior Statutory Auditor)
For and on behalf of Saffery Champness LLP Chartered Accountants Statutory Auditors
Mitre House, North Park Road, Harrogate, HG1 5RX Date: 31 January 2022
Saffery Champness LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and
**48**
## **FINANCIAL SUMMARY**
## **Going concern**
The Trustees have prepared the financial statements on a going concern basis after taking into account future budgets and cash forecasts covering the period of at least 12 months from the date of this report. Covid-19 is not expected to have a significant impact on the entity. As a result, the Trustees have identified no material uncertainties that cast significant doubt about the ability of the Society to continue as a going concern. They expect that Covid-19 might have some impact, though not significant, in relation to expected future performance, for example, or the effects on some future asset valuations. However, individual projects within the Society are largely expected to be selffunding, and some of these projects may close.
## **Net movement in funds**
The overall net movement in funds for the year ended 31 March 2021 was a surplus of £1,124,419 compared to a surplus of £3,663,621 in the year ended 31 March 2020.
## **Gains and losses**
The gain on investments for 2021 amounted to £336,570 compared to a loss of (£28,258) in 2020.
## **Pension fund**
The actuarial loss on the pension fund in 2021 amounted to (£104,000) compared to a gain of £369,000 in 2020.
## **Cash at bank and in hand**
The group cash at bank and in hand amounted to £6,567,379 in 2021 compared to £5,236,297 in 2020, representing an increase of £1,331,082.
## **Total funds**
The total group funds at 31 March 2021 amounted to £12,739,820 compared to £11,615,401 at 31 March 2020 representing an increase of £1,124,419. A comparative summary of each category of fund is included in the balance sheet, and there is a detailed breakdown in note 23 of the accounts.
There was therefore a decrease in surplus by £2,539,202 compared to the previous year.
## **Income**
Total income for the year decreased by £2,840,537 to £11,146,004 compared to £13,986,541 in 2020.
## **Expenditure**
The total expenditure in 2021 amounted to £10,292,900 compared to £10,765,148 in 2020 representing a decrease of £472,248. There was increased expenditure on visits and assistance to individuals and families compared to the previous year: £2,506,525 in 2021 compared to £2,373,443 in 2020.
**49**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES**
for the year ended 31 March 2021 (Incorporating an income and expenditure account)
**----- Start of picture text -----**
Unrestricted Restricted Endowment 2021 2020
Funds Funds Funds Total Total
Note £ £ £ £ £
**----- End of picture text -----**
|**Income**
Donations and legacies
2
Other trading activities
3
Income from investments
Income from charitable activities:
Shops and furniture projects
Holidays and camps
Residential provision
Support centres
Youth development
Other income
**Total income**
4
**Expenditure**
Expenditure on raising funds
5
Expenditure on charitable activities:
Visits & assistance to individuals and families
Shops and furniture projects
Holidays and camps
Residential provision
Support centres
Twinnage
Youth Development Programme
**Total expenditure**
6
**Net gains / (losses) on investments**
14
**Share of proft in jointly controlled entities**
18
**Net income**
7
Transfers between funds
23
Actuarial gains / (losses) on defned beneft
pension scheme
21
**Net movement in funds**
**Funds at the start of the year (Restated)**
30
**Funds at the end of the year**
23|**5,268,111**
**33,178**
**53,681**
**1,348,185**
**18,989**
**1,922,811**
**325,687**
**2,463**
**228,762**
**9,201,867**
**312,241**
**2,214,458**
**3,278,410**
**202,089**
**1,919,742**
**1,084,163**
**116,972**
**156,248**
**9,284,323**
**186,410**
**38,745**
**142,699**
-
-
**142,699**
**8,009,343**
**8,152,042**|**1,519,363**
-
**18,640**
**275,589**
-
-
**8,877**
-
**121,668**
**1,944,137**
-
**292,067**
**4,979**
-
**20,000**
-
**691,531**
-
**1,008,577**
**79,091**
-
**1,014,651**
-
**(104,000)**
**910,651**
**2,615,098**
**3,525,749**|-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**71,069**
-
**71,069**
-
-
**71,069**
**990,960**
**1,062,029**|**6,787,474**
**33,178**
**72,321**
**1,623,774**
**18,989**
**1,922,811**
**334,564**
**2,463**
**350,430**
**11,146,004**
**312,241**
**2,506,525**
**3,283,389**
**202,089**
**1,939,742**
**1,084,163**
**808,503**
**156,248**
**10,292,900**
**336,570**
**38,745**
**1,228,419**
-
**(104,000)**
**1,124,419**
**11,615,401**
**12,739,820**|(Restated)
7,631,557
92,263
151,065
3,150,518
148,802
2,222,853
356,890
32,598
199,995|
|---|---|---|---|---|---|
||||||13,986,541|
||||||375,381
2,373,443
3,576,011
406,686
1,763,986
1,231,593
779,904
258,144|
||||||10,765,148|
||||||(28,258)
101,486|
||||||3,294,621
-
369,000|
||||||3,663,621
7,951,780|
||||||11,615,401|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 23 to the financial statements. The comparative consolidated statement of financial activities is disclosed in note 29 to the financial statements.
**50**
## **GROUP AND CHARITY BALANCE SHEETS**
for the year ended 31 March 2021
**----- Start of picture text -----**
Group Charity Group Charity
2021 2021 2020 2020
Note £ £ £ £
**----- End of picture text -----**
|**Fixed assets**
Tangible fxed assets
12
Investment properties
13
Investments
14
Investments in subsidiaries
16
Investments in joint ventures
18
**Current assets**
Stock
Debtors
19
Cash at bank and in hand
**Creditors: amounts falling due within 1 year**
20
**Net current assets**
**Total assets less current liabilities**
**Defned beneft scheme pension asset / (liability)**
21
**Net assets**
**Funds**
Endowment funds
Restricted funds
Unrestricted funds:
Revaluation reserve
Designated funds
General funds
**Total funds**
23|**2,727,708**
-
**2,288,391**
-
**176,989**
**5,193,088**
**11,691**
**1,600,100**
**6,567,379**
**8,179,170**
**594,438**
**7,584,732**
**12,777,820**
**(38,000)**
**12,739,820**
**1,062,029**
**3,525,749**
**625,477**
**3,840,485**
**3,686,080**
**12,739,820**|**2,727,708**
-
**1,239,590**
**1**
-
**3,967,299**
**11,691**
**1,666,140**
**6,418,725**
**8,096,556**
**589,752**
**7,506,804**
**11,474,103**
**(38,000)**
**11,436,103**
**183,079**
**3,314,820**
**625,477**
**3,840,485**
**3,472,242**
**11,436,103**|2,168,156
610,000
1,973,915
-
138,244
4,890,315
12,498
2,039,034
5,236,297
7,287,829
648,743
6,639,086
11,529,401
86,000
11,615,401
990,960
2,615,098
625,477
3,537,868
3,845,998
11,615,401|2,168,156
610,000
1,039,396
1
-|
|---|---|---|---|---|
|||||3,817,553|
|||||9,521
2,150,381
4,989,580|
|||||7,149,482
632,441|
|||||6,517,041|
|||||10,334,594
86,000|
|||||10,420,594|
|||||176,791
2,446,926
625,477
3,537,868
3,633,532|
|||||10,420,594|
These financial statements were approved and authorised for issue by the Trustees on 27 November 2021 and signed on their behalf by:
**Helen O’Shea, National President St Vincent de Paul Society (England & Wales). Company Number: 3174679**
**51**
## **CONSOLIDATED CASHFLOW STATEMENT**
for the year ended 31 March 2021
**----- Start of picture text -----**
2021 2020
Note £ £
Net cash (used in) / provided by operating activities a 1,420,353 1,388,197
Net cash (used in) / provided by investing activities b (89,271) (42,686)
Increase / (decrease) in cash in the year 1,331,082 1,345,511
Reconciliation of net cash flow to movement in net funds
Increase / (decrease) in cash for the year 1,331,082 1,345,511
Net funds at beginning of year 5,236,297 3,890,786
Net funds at end of year c 6,567,379 5,236,297
a. Reconciliation of net cash used in operating activities
Net income before revaluations 853,104 3,221,393
Prior year pension adjustment - (235,000)
Investment income (72,321) (151,065)
Depreciation 229,703 186,823
Loss on disposal of fixed assets 4,431 2,593
Loss on disposal of assets held for sale - -
Defined benefit scheme net interest expense (5,000) 5,000
Current service cost in excess of employer contributions 25,000 39,000
(Decrease) / Increase in creditors (54,305) (163,011)
Decrease / (Increase) in debtors 438,934 (1,525,563)
Decrease / (Increase) in stocks 807 8,027
Net cash used in operating activities 1,420,353 1,388,197
b. Net cash (used in) / provided by investing activities
Investment income 72,321 151,065
Proceeds from sale of listed investments 195,896 223,076
Purchase of investments (222,332) (237,976)
Decrease in cash held within investment portfolio 48,530 1,094
Proceeds from sale of fixed assets (1,431) (2,533)
Purchase of tangible fixed assets (182,255) (177,412)
(89,271) (42,686)
c. Analysis of Net Funds
As at As at
01 Apr 2020 Cash flows 31 Mar 2021
£ £ £
Cash at bank and in hand 5,236,297 1,331,082 6,567,379
5,236,297 1,331,082 6,567,379
**----- End of picture text -----**
**52**
## **NOTES TO THE FINANCIAL STATEMENTS**
for the year ended 31 March 2021
**“Help honours when to the bread that nourishes it adds the visit that consoles, the advice that enlightens, the friendly shake of the hand that lifts up the sinking courage; when it treats the poor man with respect not only as an equal but as a superior, since he is suffering what perhaps we are incapable of suffering; since he is the messenger of God to us, sent to prove our justice and our charity; and to** _Frédéric Ozanam_ **save us by our works”**
## **1. Accounting Policies**
## **a) Charitable company information**
St Vincent de Paul Society (England & Wales) (“the Society” or “the Charity”) is a limited company domiciled and incorporated in England and Wales. The registered office is Romero House, 55 Westminster Bridge Road, London, SE1 7JB.
## **b) Accounting convention**
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006. The charity is a public benefit entity for the purposes of FRS 102 and therefore the charity also prepared its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their financial statements with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP) and the Charities Act 2011.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared on the historical cost convention, modified by the recognition of investment properties, and financial
assets and liabilities measured at fair value. The principal accounting policies adopted are set out below.
## **c) Consolidation**
These financial statements consolidate the results of the Society and its wholly-owned subsidiary, The Society of St Vincent de Paul (England and Wales) Trading Limited, on a line by line basis. The Society also holds a controlling interest in the Pen Y Pound House Fund, the David Young’s Charity and the TB Hunt Trust. These are included within the group accounts. The results of the charity comprise the results of the National Office, Conferences and Special Works of the Society. A separate statement of financial activities, or income and expenditure account, for the Society itself is not presented because it has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006.
The Society is a member of Revive Leeds CIC, a company limited by guarantee, and exercises joint control over the entity via a membership agreement. Revive Leeds CIC is accounted for in the Society’s consolidated accounting using the equity method. The Society’s share of the profit or loss as well as the Society’s share of any reserve movements of Revive Leeds CIC are charged to the Statement of Financial Activities in the period in which they occur.
**53**
## **d) Going concern**
The Trustees have prepared the financial statements on a going concern basis after taking into account future budgets and cash forecasts covering the period of at least 12 months from the date of this report. Individual projects within the Society are largely expected to be self-funding. Some funding streams have changed priority during the Covid-19 pandemic. Shops closed during national and regional lockdowns; however, the charity has benefitted from some grant funding, including the furlough scheme, and as a result the charity has been in a position to absorb some of the impact of Covid-19. The shops opened in April 2021, and have been performing to budget. This, combined with the reserves the charity holds, has enabled the Trustees to conclude that the charity will be able to settle its debts as they fall due for at least 12 months following approval of these financial statements. As a result, the Trustees have identified no material uncertainties that cast significant doubt about the ability of the Society to continue as a going concern, and so the financial statements continue to be prepared on this basis.
## **e) Foreign exchange**
Transactions in currencies other than pound sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing at the period end date. Gains and losses are included in the Statement of Financial Activities for the period.
## **f) Income**
Voluntary income received by way of donations to the Society is included in full in the statement of financial activities when receivable. Proceeds from the sale of donated goods are recognised in the accounts in the period in which they are realised. Volunteer time is not included in the financial statements.
Grants are recognised in full in the statement of financial activities in the year in which they are receivable.
receipt and where the amount can be measured reliably.
## **g) Expenditure**
Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered.
Grants payable are recognised when authorised for payment.
Governance costs relate to compliance with constitutional and statutory requirements.
Expenditure on raising funds relates to the costs incurred by the group and Society in raising funds for the charitable work.
## **Allocation of support costs incurred at the Society’s administrative centres**
Expenditure is allocated to the particular activity where the cost relates directly to that activity. However, where relevant, the salary, office and premises costs of the administrative centres which represent the charity’s support costs are apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.
Visits & assistance to individuals
|attributable to each activity.
Visits & assistance to individuals||
|---|---|
|and families|**40%**|
|Shops and furniture projects|**29%**|
|Holidays and camps|**8%**|
|Residential provision|**7%**|
|Twinnage|**2%**|
|Youth development programme|**4%**|
|Support centres|**6%**|
|Expenditure on raising funds|**4%**|
||**100%**|
## **h) Fixed assets**
Assets are capitalised at cost, as detailed in note 12.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
Income from legacies is accounted for on a receivable basis, and is recognised in full in the financial statements in the period in which entitlement is notified, where there is probability of
**54**
Freehold property **2% straight line** Leasehold property **over the period of the lease**
Computer equipment **33% straight line** Furniture and equipment **20% straight line** Motor vehicles and caravans **20% straight line**
## Land is not depreciated.
Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.
## **i) Investments**
Investments held as fixed assets are revalued at mid-market value at the balance sheet date. The gains or losses for the period on revaluation or disposal are taken to the statement of financial activities. The Trustees consider short term deposits to be liquid resources.
## **j) Assets held for sale**
Surplus property which is in the process of being sold at the year end is taken out of fixed assets and included at valuation.
## **k) Stocks**
Stocks are stated at the lower of cost and net realisable value. Cost is measured on a first in first out basis and includes transport and handling costs. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving and defective stocks.
## **l) Cash**
Cash and cash equivalents include cash in hand, deposits held at call with banks and other shortterm liquid investments with original maturities of three months or less.
## **m) Funds**
Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund.
Designated funds are to be used for specified purposes as laid down by the Trustees of the Society.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
Endowment funds are funds for which the assets must be held permanently by the Society. Further details of these funds are shown in note 23.
## **n) Operating leases**
Rentals payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the statement of financial activities in the year in which they fall due.
## **o) Pensions**
The Society **Defined contribution scheme:** operates a stakeholder group personal pension plan. In addition, the Society contributes to the personal pension schemes of a number of employees. The assets of the schemes are held separately from those of the Society in independently administered funds. The pension cost charge represents contributions payable under the schemes by the Society to the funds. The Society has no liability under the schemes other than for the payment of those contributions.
Some of the Society’s **Defined benefit scheme:** employees are members of the Tyne and Wear Local Government Pension Scheme. The LGPS is a funded scheme and the assets are held separately from those of the Society in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The resulting asset or liability is recognised in the balance sheet. In the case of an asset this is recognised to the extent it is considered recoverable through reduced contributions in the future, or through refunds from the Scheme.
The amounts charged to operating surplus are the current service costs and the costs of scheme introductions, benefit changes, settlements and curtailments. They are included as part of staff costs as incurred. Net interest on the net defined benefit liability/asset is also recognised in the Statement of Financial Activities and comprises the
**55**
interest cost on the defined benefit obligation and interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses.
## **p) Financial instruments**
The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company’s balance sheet when the company becomes party to the contractual provisions of the instrument.
**Basic financial assets:** Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
**Other financial assets:** Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as ‘loans and receivables’. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.
Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that
exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.
Financial assets, **Impairment of financial assets:** other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.
Financial **Derecognition of financial assets:** assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.
Financial **Classification of financial liabilities:** liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
**Basic financial liabilities:** Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial **Derecognition of financial liabilities:** liabilities are derecognised when, and only when,
**56**
the company’s obligations are discharged, cancelled, or they expire.
## **q) Judgements and key sources of estimation uncertainty**
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.
**Critical judgements** : The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
The charity uses the valuation performed by its selling agents as the fair value of its assets held
for sale. The valuation is based upon the key assumptions of estimated rental values and market based yields. In determining fair value the valuers make reference to market evidence and recent transaction prices for similar properties. Due to Covid-19 this work has been remote.
The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 12 for the carrying amount of the property, plant and equipment and note 1. h) for the useful economic lives for each class of asset. The charity uses a professional valuer to value the investment property. The valuer makes reference to prices of comparable properties and local market conditions to arrive at the market value at the balance sheet date.
The charity uses a professional valuer to value the investment property. The valuer makes reference to prices of comparable properties and local market conditions to arrive at the market value at the balance sheet date.
## **2. Donations and legacies**
|**2. Donations and legacies**||||||
|---|---|---|---|---|---|
||**Unrestricted**
**Funds**|**Restricted**
**Funds**|**Endowment**
**Funds**|**2021**
**Total**|**2020**
**Total**|
||**£**|**£**|**£**|**£**|**£**|
|Members’ contributions
Church collections
Legacies
Other fundraising activities
Other donations and voluntary grants|**253,020**
**246,966**
**474,128**
**199,115**
**4,094,882**
**5,268,111**
**Unrestricted**
**Funds**|-
**22,007**
**615,148**
**60,123**
**822,085**
**1,519,363**
**Restricted**
**Funds**|-
-
-
-
-
-
**Endowment**
**Funds**|**253,020**
**268,973**
**1,089,276**
**259,238**
**4,916,967**
**6,787,474**
**2020**
**Total**
**(Restated)**|330,246
937,708
4,014,317
304,933
2,044,353|
||||||7,631,557|
|||||||
|||||||
||**£**|**£**|**£**|**£**||
|Members’ contributions
Church collections
Legacies
Other fundraising activities
Other donations and voluntary grants|330,246
896,652
3,552,154
249,250
1,215,083
6,243,385|-
41,056
462,163
55,683
829,270
1,388,172|-
-
-
-
-
-|330,246
937,708
4,014,317
304,933
2,044,353
7,631,557||
_Donations and legacies received covers a number of different charitable activities._
**57**
## **3. Other trading activities (including fundraising)**
||**Unrestricted**
**Funds**|**Restricted**
**Funds**|**Endowment**
**Funds**|**2021**
**Total**|**2020**
**Total**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|Trading activities
Income from national raffe|**27,119**
**6,059**
**33,178**|-
-
-|-
-
-|**27,119**
**6,059**
**33,178**|42,179
50,084|
||||||92,263|
_All the above trading activities comprise unrestricted funds in both periods._
**“Thank you so much for my Christmas meal. I have spent the day alone, but these little gifts, warm meal and wonderfully homemade card have really put a smile on my face”**
## **4. Total incoming resources for the year**
This is stated after including the following restricted grants:
**----- Start of picture text -----**
2021 2020
£ £
**----- End of picture text -----**
|**Visits & assistance to individuals & families**|||
|---|---|---|
|Porta Pia|**35,000**|34,999|
|Porticus|**38,000**|27,831|
|Holy Cross Child of Jesus|-|20,000|
|**Shops & furniture projects**|||
|Sheffeld City Council - Voluntary Sector Grants Fund|**53,283**|60,161|
|Other grants received (Under £10,000)|**37,904**|-|
|**Support centres**|||
|Lottery Funding|**112,972**|104,020|
|Homeless Link Grant|**10,000**|-|
|Veolia|**7,220**|-|
|Shared Space|**15,000**|-|
|Newcastle CCG|**15,000**|-|
|Newcastle Community Foundation|**10,000**|-|
|Land Securities|**15,000**|-|
|DEFRA|**20,000**|-|
|Leeds Community Foundation|**32,200**|-|
|EU Settlement Scheme|**41,925**|15,000|
|Other grants received (Under £10,000)|**41,398**|23,598|
|**Youth development programme**|||
|Sisters of the Holy Cross|-|10,000|
**58**
## **5. Expenditure on raising funds**
**----- Start of picture text -----**
Unrestricted Restricted Endowment 2021 2020
Funds Funds Funds Total Total
£ £ £ £ £
**----- End of picture text -----**
|Staff costs
Other staff and volunteer expenses
Fundraising expenses
Trading activities
Investment managers’ fees
Property expenses
Offce expenses
Other costs
Support costs (note 6)|**171,456**
**2,188**
**22,126**
**21,776**
**5,951**
**6,579**
**6,841**
**17,695**
**57,629**|-
-
-
-
-
-
-
-
-
-|-
-
-
-
-
-
-
-
-
-|**171,456**
**2,188**
**22,126**
**21,776**
**5,951**
**6,579**
**6,841**
**17,695**
**57,635**
**312,241**|129,611
11,763
80,106
7,672
8,615
13,203
11,925
19,048
93,438|
|---|---|---|---|---|---|
||**312,241**||||375,381|
_All the above expenditure was from unrestricted funds in both periods._
|**6. Expenditure**||**Year ended 31 March 2021**|**Year ended 31 March 2021**|**Year ended 31 March 2021**||
|---|---|---|---|---|---|
||**Staff costs**
**(note 8)**|**Grants**
**(note 9)**|**Other**
**direct costs**|**Support costs**
**(note 10)**|**Total**|
||**£**|**£**|**£**|**£**|**£**|
|Expenditure on raising funds (note 5)
Charitable activities:
Visits & assistance to individuals and families
Shops and furniture projects
Holidays and camps
Residential provision
Support centres
Twinnage
Youth Development Programme
Total charitable activities
Support costs|**171,456**
**128,095**
**1,721,779**
-
**1,719,015**
**678,690**
**45,857**
**89,226**
**4,382,662**
**1,002,459**
**5,556,577**|-
**8,655**
-
-
-
-
**717,115**
-
**725,770**
**40,140**
**765,910**|**83,156**
**1,733,580**
**1,114,087**
**69,353**
**111,292**
**302,717**
**9,037**
**7,534**
**3,347,600**
**539,657**
**3,970,413**|**57,629**
**636,195**
**447,523**
**132,736**
**109,435**
**102,756**
**36,494**
**59,488**
**1,524,627**
**(1,582,256)**
-|**312,241**
**2,506,525**
**3,283,389**
**202,089**
**1,939,742**
**1,084,163**
**808,503**
**156,248**|
||||||**9,980,659**
-|
||||||**10,292,900**|
|||||||
|||**Year ended 31 March 2020 (Restated)**||||
|||||||
||**£**|**£**|**£**|**£**|**£**|
|Expenditure on raising funds (note 5)
Charitable activities:
Visits & assistance to individuals and families
Shops and furniture projects
Holidays and camps
Residential provision
Support centres
Twinnage
Youth Development Programme
Total charitable activities
Support costs|129,611
134,907
1,653,348
-
1,740,658
775,343
12,300
137,238
4,453,794
950,004
5,533,409|-
-
-
-
-
-
707,720
-
707,720
27,029
734,749|152,332
1,577,023
1,205,436
316,697
(103,025)
323,922
18,098
30,904|93,438
661,513
717,227
89,989
126,353
132,328
41,786
90,002|375,381
2,373,443
3,576,011
406,686
1,763,986
1,231,593
779,904
258,144|
||||3,369,055
975,603|1,859,198
(1,952,636)|10,389,767
-|
||||4,496,990|-|10,765,148|
**59**
## **7. Net expenditure for the year**
This is stated after charging:
**----- Start of picture text -----**
2021 2020
Total Total
£ £
**----- End of picture text -----**
|Depreciation|**229,703**|186,823|
|---|---|---|
|Trustees’ indemnity insurance|**2,800**|2,496|
|Trustees’ remuneration|**Nil**|Nil|
|Trustees’ reimbursed expenses|**50**|8,322|
|Auditor’s remuneration (excluding VAT):|||
|Statutory audit|**30,000**|31,950|
|Prior year audit fees|**10,970**|-|
|Operating lease rentals:|||
|Property|**651,153**|468,074|
During the year, 1 (2020: 10) trustee was reimbursed expenses. This totalled £50 (2020: £8,322). In addition £Nil (2020: £Nil) was paid on behalf of Trustees directly to third parties. Expenses related to reimbursement for travel and accommodation, subsistence, telephone, postage and stationery and are in relation to their roles as trustees.
In accordance with the articles of association, the Society paid a premium of £2,800 (2020: £2,496) for trustee indemnity insurance to the value of £5 million (2020: £5 million).
## **8. Staff costs and numbers**
Staff costs were as follows:
||**2021**
**Total**|**2020**
**Total**|
|---|---|---|
||**£**|**£**|
|Salaries and wages
Social security costs
Pension contributions|**4,450,103**
**361,908**
**744,566**
**5,556,577**|4,510,756
314,072
708,581|
|||5,533,409|
Included in staff costs and paid in the year were redundancy and termination payments totalling £29,307 for 7 employees (2020: £36,871 for 3 employees).
The earnings, including pension contribution and employer’s National Insurance contributions, of key management personnel (including the CEO) in 2021 were £180,120 (2020: £158,843). This related to two roles (2020: two).
During the year there were two employees who received employment benefits (excluding employer’s pension contributions) of more than £60,000. £60,000 -£70,000 = 2 (2020: 2).
For all full-pay relevant employees, the mean hourly rate of pay is £13.27 for males and £13.78 for females which represents a -3.84% mean gender pay gap.
For all full-pay relevant employees, the median hourly rate of pay is £11.03 for males and £11.62 for females which represents a -5.35% median gender pay gap.
Of the 37 employees in the lower quartile, 15 are male and 22 are female (male: 41%, female: 59%)
Of the 36 employees in the lower middle quartile, 10 are male and 26 are female (male: 28%, female: 72%).
Of the 36 employees in the upper middle quartile, 10 are male and 26 are female (male: 28%, female: 72%). Of the 37 employees in the upper quartile, 13 are male and 24 are female (male: 35%, female: 65%).
**60**
The average number of employees (on a full time equivalent basis (FTE)) during the year was as follows:
**----- Start of picture text -----**
Actual FTE
2021 2020 2021 2020
No. No. No. No.
**----- End of picture text -----**
||**2021**
**No.**|**2020**
**2021**
**2020**
**No.**
**No.**
**No.**|
|---|---|---|
|Visits & assistance to individuals and families
Shops and furniture projects
Holidays and camps
Residential care and approved premises
Youth programme
Support centres
Twinnage
Fundraising
Support staff
Governance|-
**116**
-
**47**
**4**
**45**
**3**
**21**
**43**
**6**
**285**|7
-
3
135
78
77
-
-
-
46
46
45
6
2
4
41
27
25
2
1
1
12
12
8
27
19
18
4
11
2|
|||280
196
183|
The Society relies substantially on voluntary services provided by its Members across the country. It is not possible to quantify the value of these services to the Society.
## **9. Grants programme**
During the year, the Society paid out grants to a number of organisations through the Twinnage Programme and directly from the National Society. The majority of the grants were paid to SVP societies in other countries.
**----- Start of picture text -----**
2021 2020
Total Total
£ £
**----- End of picture text -----**
|SVP India
Indian student scholarships programme
SVP Sudan
SVP South Sudan
SVP Romania
SVP Grenada
SVP Lebanon
SVP Guyana
Payments from disaster fund:
Sudan and South Sudan
India
Lebanon
CGI Covid
Botswana
Twinnage projects
South America
South Africa
Vincentian Volunteers
Council General International
Other grants|**69,354**
**10,905**
**175,684**
**94,680**
**1,000**
**4,500**
**4,107**
**2,000**
**5,000**
-
**5,000**
**10,000**
-
**327,210**
-
**7,675**
**4,000**
**36,140**
**8,655**
**765,910**|98,577
57,370
91,336
94,209
2,296
3,450
-
2,000
-
85,500
-
-
5,000
253,922
-
12,016
-
27,030
2,043|
|---|---|---|
|||734,749|
**61**
## **10. Support costs**
**----- Start of picture text -----**
2021 2020
Total Total
(Restated)
£ £
**----- End of picture text -----**
|Staff costs
Other staff and volunteer expenses
Offce costs
Premises costs
Bank charges
Depreciation
Legal and professional fees
Other costs
Governance costs
Support costs included the following expenditure on governance:
Staff costs
Other staff and volunteer expenses
Auditors fees and expenses:
Net audit fee (note 7)
Other professional fees
Board expenses
Other costs|**735,993**
**42,278**
**150,577**
**29,968**
**42,587**
**28,923**
**64,928**
**105,733**
**381,269**
**1,582,256**
**266,466**
**256**
**30,000**
**63,397**
**220**
**20,930**
**381,269**|763,246
191,435
264,118
134,604
74,353
22,809
126,012
96,607
279,452|
|---|---|---|
|||1,952,636|
|||186,758
6,557
31,950
38,905
10,913
4,369|
|||279,452|
## **11. Taxation**
The Society is exempt from Corporation Tax as all its income is charitable and is applied for charitable purposes. Available taxable profits are Gift Aided to the Society by The St Vincent de Paul Society (England and Wales) Trading Limited.
**“I just wanted to thank you for the furniture delivered to me today. I am so very grateful to all involved, and many thanks to the delivery guys. I hope one day I will be able to contribute to St Vincent’s in some capacity. Thanks again”**
**62**
## **12. Tangible fixed assets - The group and the charity**
**----- Start of picture text -----**
Leasehold Motor
Freehold property and Furniture and vehicles and
property improvements equipment caravans Totals
£ £ £ £ £
**----- End of picture text -----**
|**COST**
At the start of the year
Additions in year
Disposals in year
Revaluations
Impairments
Transfers
At the end of the year
**DEPRECIATION**
At the start of the year
Charge for the year
Disposals in year
Revaluations
Impairments
Transfers
At the end of the year
**NET BOOK VALUE AT 31 MARCH 2021**
Long leasehold
Short leasehold
**NET BOOK VALUE AT 31 MARCH 2020**
Long leasehold
Short leasehold|1,223,004
96,730
-
-
-
610,000
1,929,734
197,043
37,143
-
-
-
-
234,186
**1,695,548**
**1,025,961**|1,440,502
7,079
-
-
-
-
1,447,581
568,512
65,935
-
-
-
-
634,447
**813,134**
**813,134**
-
**813,134**
**871,990**
**871,990**
-
**871,990**|839,121
74,446
-
-
-
-
913,567
623,714
102,510
-
-
-
-
726,224
**187,343**
**215,407**|213,079
4,000
(3,000)
-
-
-
214,079
158,281
24,115
-
-
-
-
182,396
**31,683**
**54,798**|**3,715,706**
**182,255**
**(3,000)**
-
-
**610,000**|
|---|---|---|---|---|---|
||||||**4,504,961**|
||||||**1,547,550**
**229,703**
-
-
-
-|
||||||**1,777,253**|
||||||**2,727,708**|
||||||**2,168,156**|
|||||||
## **13. Investment property - The group and the charity**
||**UK Properties**|
|---|---|
||**£**|
|**VALUATION**
At the start of the year
Transfers
At the end of the year|610,000
(610,000)|
||-|
The Society’s investment property was valued on an Open Market Basis by Abigail Burt BSc (Hons) MSc MRICS on behalf of Third Sector Property Limited in April 2020 at £610,000. This was transferred to the fixed asset register as a Support Centre.
**63**
## **14. Investments**
**----- Start of picture text -----**
Group Charity Group Charity
2021 2021 2020 2020
£ £ £ £
Market value at the start of the year 1,936,041 1,001,522 1,949,399 1,050,972
Additions at cost 222,332 222,332 237,976 237,976
Disposal at market value (195,896) (211,043) (223,076) (225,522)
Realised gains / (losses) 23,230 23,230 34,612 34,612
Unrealised gains / (losses) 313,340 214,205 (62,870) (96,516)
2,299,047 1,250,246 1,936,041 1,001,522
Cash held with investment managers (10,656) (10,656) 37,874 37,874
Total investment portfolio market value 2,288,391 1,239,590 1,973,915 1,039,396
at the end of the year
Historic cost at the end of the year 1,474,918 927,155 1,425,252 892,636
All the investments are listed on the UK stock exchange and are intended to provide an investment return.
Investments representing over 5% by value of the portfolio, as above, comprise:
Group Charity Group Charity
2021 2021 2020 2020
£ £ £ £
COIF Charities Ethical Investment Fund 1,043,552 280,059 870,556 233,632
**----- End of picture text -----**
## **15. Results of parent charity**
These accounts do not include a Statement of Financial Activities for the parent charity, as permitted under section 403 of the Companies Act 2006. The relevant figures for the year ended 31 March for the parent charity were:
|charity were:|||
|---|---|---|
||**2021**|**2020**
**(Restated)**|
||**£**|**£**|
|Gross income
Surplus (Defcit) for the year|**11,058,112**
**894,597**|13,884,876
3,089,429|
## **16. Investments in subsidiaries - Charity**
The charity has an unlisted investment with a historical cost of £1 representing its 100% shareholding in The St Vincent de Paul Society (England and Wales) Trading Limited, which is a company registered in England that operates accommodation and sells Christmas cards and other goods. A summary of that company’s financial position is set out in note 17.
**64**
## **17. Subsidiary undertakings**
The charitable company held a controlling interest in the following entities during the year:
- The Pen-Y-Pound House Fund (a subsidiary charity, number 1053992-1)
- David Young’s Charity (a registered charity, number 238877)
- The T B Hunt Trust Fund (a registered charity, number 216406)
- The St Vincent de Paul Society (England and Wales) Trading Limited (company registration number 04373817)
All activities have been consolidated on a line by line basis in the Statement of Financial Activities.
A summary of the results of the subsidiaries is shown below:
## **The Pen-Y-Pound House Fund (Capital and Income)**
**----- Start of picture text -----**
2021 2020
£ £
**----- End of picture text -----**
|Incoming resources
Charitable expenditure
Net outgoing resources for the year
Unrealised gains / (losses)
Net movement in funds
Funds brought forward
**Funds carried forward**
The aggregate of the assets, liabilities and funds was:
Investments
Net current assets
Funds:
Endowment fund
Income fund|**(1,612)**
**(36,128)**
**(37,740)**
**98,955**
**61,215**
**474,791**
**536,006**
**456,675**
**79,331**
**536,006**
**392,591**
**143,415**
**536,006**|35,058
(14,108)|
|---|---|---|
|||20,950
(12,193)|
|||8,757
466,034|
|||474,791|
|||398,882
75,909|
|||474,791|
|||372,727
102,064|
|||474,791|
This is a separate charitable trust controlled by the Society as the Trustees of the Society are the Trustees of the Pen-Y-Pound Fund. The trust’s main objective is to further the work of the Roman Catholic Church in relieving the poor of the Roman Catholic Archdiocese of Cardiff.
**65**
## **17. Subsidiary undertakings (continued)**
## **David Young’s Charity**
**----- Start of picture text -----**
2021 2020
£ £
**----- End of picture text -----**
|Incoming resources
Charitable expenditure
Net outgoing resources for the year
Unrealised gains / (losses)
Net movement in funds
Funds brought forward
**Funds carried forward**
The aggregate of the assets, liabilities and funds was:
Investments
Net current assets
Funds:
Endowment fund
Income fund|**9,891**
**(9,721)**
**170**
**(13,268)**
**(13,098)**
**259,457**
**246,359**
**241,099**
**5,260**
**246,359**
**193,993**
**52,366**
**246,359**|5,236
(6,395)|
|---|---|---|
|||(1,159)
11,417|
|||10,258
249,199|
|||259,457|
|||255,344
4,113|
|||259,457
198,007
61,450|
|||259,457|
David Young’s Charity is controlled by the Society as the Society appoints the Trustees of the charity. The figures included in these consolidated accounts are for the year ended 31 December 2020 as this is the date to which the subsidiary prepares their accounts; there have been no material changes in the three months to 31 March 2021. The Trust’s main objective is the relief of hardship or distress by making grants of money.
**----- Start of picture text -----**
T B Hunt Trust Fund
2021 2020
£ £
**----- End of picture text -----**
|Incoming resources
Charitable expenditure
Net outgoing resources for the year
Unrealised gains
Net movement in funds
Funds brought forward
**Funds carried forward**
The aggregate of the assets, liabilities and funds was:
Investments
Current assets
Funds:
Endowment fund
Income fund|**4,359**
**(4,100)**
**259**
**48,931**
**49,190**
**259,261**
**308,451**
**279,001**
**29,450**
**308,451**
**292,366**
**16,085**
**308,451**|8,734
(4,570)|
|---|---|---|
|||4,164
(7,543)|
|||(3,379)
262,640|
|||259,261|
|||243,435
15,826|
|||259,261
243,435
15,826|
|||259,261|
This is a separate charitable trust controlled by the Society as the Trustees of the Society are the Trustees of the T B Hunt Trust Fund. The trust’s main objective is the relief of poverty amongst Roman Catholics in the Leicester and Market Harborough areas.
**66**
## **The St Vincent de Paul Society (England and Wales) Trading Limited**
**----- Start of picture text -----**
2021 2020
£ £
**----- End of picture text -----**
|Turnover
Cost of sales
Gross proft
Administrative expenses
Operating proft / (loss) for the fnancial year
Interest payable
**Net proft / loss**
The aggregate of the assets, liabilities and funds was:
Current assets
Creditors: amounts falling due within one year|**75,342**
**(20,381)**
**54,961**
**(23,646)**
**31,315**
**(832)**
**30,483**
**60,762**
**(76,971)**
**(16,209)**|51,375
(11,944)|
|---|---|---|
|||39,431
(27,301)|
|||12,130
-|
|||12,130|
|||57,605
(104,296)|
|||(46,691)|
The trading company began trading in July 2003 and is based at the Society’s National Office. Activity is centred around the management of move on accommodation and the sale of Christmas cards, Fairtrade goods and similar items.
## **18. Investments in jointly controlled entities**
The charity is a member of Revive Leeds CIC, a company limited by guarantee, and jointly controls the entity via a Members’ agreement with the other members of the company. This agreement stipulates that profits made are distributed evenly between the member charities as a distribution. Last year the number of members of Revive Leeds CIC has reduced from three to two and consequently the SVP’s share of the assets and liabilities of the jointly controlled entity is 50% during the year.
|||||**2021**|**2021**|**2020**|
|---|---|---|---|---|---|---|
|||||**£**||**£**|
|Value of share in Jointly Controlled Entity - brought forward
Share of proft /(loss) for the year
Valuation carried forward
_Related party transactions are shown in note 25._
**19. Debtors**|**Group**
**2021**|**Charity**
**2021**||**138,244**
**38,745**
**176,989**
**Group**
**2020**||36,758
101,486|
|||||||138,244|
|||||**Group**
**2020**||**Charity**
**2020**|
||**£**|**£**||**£**||**£**|
|Trade debtors
Other debtors
Prepayments
Accrued income
Other taxation and social security
Amounts due from subsidiaries|**421,018**
**109,382**
**486,890**
**500,000**
**82,810**
-
**1,600,100**|**419,680**
**109,382**
**484,927**
**500,000**
**82,822**
**69,329**
**1,666,140**||424,691
20,565
263,262
1,250,000
80,516
-
2,039,034||424,992
20,565
263,262
1,250,000
80,516
111,046|
||||||||
|||||||2,150,381|
Included within other debtors for the group and charity shown above is £nil (2020: £NIL) which is due after one year from the balance sheet date.
Amounts due from subsidiaries include a loan of £5,180 (2020: £5,180) to The St Vincent de Paul Society (England and Wales) Trading Limited that is due to be repaid by March 2029. Loan repayments are made yearly and the subsidiary accrues interest at a rate of 1.5%. The subsidiary has given the Society a floating charge over its assets as security.
**67**
## **20. Creditors: Amounts falling due within one year**
**----- Start of picture text -----**
Group Charity Group Charity
2021 2021 2020 2020
£ £ £ £
**----- End of picture text -----**
|Trade creditors
Other creditors
Other taxation and social security
Accruals
Deferred income|**173,371**
**89,597**
**68,092**
**263,378**
-
**594,438**|**174,849**
**89,597**
**68,092**
**257,214**
-
**589,752**|132,463
80,584
71,755
363,941
-
648,743|128,243
80,584
71,755
351,859
-|
|---|---|---|---|---|
|||||632,441|
Included within other creditors are outstanding pension contributions of £nil (2020: £21,983).
||**Group**
**2021**|**Charity**
**2021**|**Group**
**2020**|**Charity**
**2020**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|Deferred income brought forward
Released in the year
Deferred income carried forward|-
-
-|-
-
-|58,708
(58,708)
-|58,708
(58,708)|
||||||
|||||-|
Deferred income primarily consists of future memberships and grants for future accounting periods.
## **21. Defined benefit pension scheme liability**
Some of the Society’s employees belong to the Local Government Pension Scheme (LGPS), the Tyne and Wear Pension Fund (TWPF).
The LGPS is a funded defined benefit plan with benefits earned up to 31 March 2014 being linked to final salary. Benefits after 31 March 2014 are based on a Career Average Revalued Earnings Scheme. Details of the benefits earned over the period covered by this disclosure are set out in ‘The Local Government Pension Scheme Regulations 2013’ and ‘The Local Government Pension Scheme (Transitional Provisions, Savings and Amendment) Regulations 2014’.
## **Funding / Governance Arrangements of the LGPS**
The funded nature of the LGPS requires participating employers and its employees to pay contributions into the Fund, calculated at a level intended to balance the pension liabilities with investment assets. Information on the framework for calculating contributions to be paid is set out in LGPS Regulations 2013 and the Fund’s Funding Strategy Statement. The last actuarial valuation was at 31 March 2016 and the contributions to
be paid until 31 March 2020 resulting from that valuation are set out in the Fund’s Rates and Adjustment Certificate.
The Fund Administering Authority is responsible for the governance of the Fund which is South Tyneside for the TWPF.
## **Assets**
The assets allocated to the Employer in the Fund are notional and are assumed to be invested in line with the investments of the Fund for the purposes of calculating the return to be applied to those notional assets over the accounting period. The Fund is large and holds a significant proportion of its assets in liquid investments. As a consequence there will be no significant restriction on realising assets if a large payment is required to be paid from the fund in relation to an employer’s liabilities. The assets are invested in a diversified spread of investments and the approximate split of assets for the fund as a whole (based on data supplied by the Administering Authority) is shown in the disclosures.
The Administering Authority may invest a small proportion of the Fund’s investments in the assets of some of the employers participating in the Fund if it forms part of their balanced investment strategy.
**68**
## **Risks associated with the Fund in relation to accounting**
**Asset volatility:** The liabilities used for accounting purposes are calculated using a discount rate set with reference to corporate bond yields. If assets underperform this yield this will create a deficit in the accounts. The Fund holds a significant proportion of growth assets which while expected to outperform corporate bonds in the long term creates volatility and risk in the short term in relation to the accounting figures.
**Changes in Bond Yield:** A decrease in corporate bond yields will increase the value placed on the liabilities for accounting purposes although this will be marginally offset by the increase in the assets as a result.
The majority of the pension liabilities **Inflation Risk:** are linked to either pay or price inflation. Higher inflation expectations will lead to a higher liability
value. The assets are either unaffected or loosely correlated with inflation meaning that an increase in inflation will increase the deficit.
**Life expectancy:** The majority of the Fund’s obligations are to provide benefits for the life of the member following retirement, so increases in life expectancy will result in an increase in the liabilities.
**Exiting employers:** Employers who leave the Fund (or their guarantor) may have to make an exit payment to meet any shortfall in assets against their pension liabilities. If the employer (or guarantor) is not able to meet this exit payment the liability may in certain circumstances fall on other employers in the Fund. Further the assets at exit in respect of ‘orphan liabilities’ may, in retrospect, not be sufficient to meet the liabilities. This risk may fall on other employers. ‘Orphan liabilities’ are currently a small proportion of the overall liabilities in the Fund.
|**Principal actuarial assumptions**|**TWPF**
**2021**
**2020**|
|---|---|
|Discount rate for scheme liabilities|**2.1%**
2.3%|
|Infation assumption (CPI)|**2.7%**
2.0%|
|Rate of increase for pensions in payment / infation|**2.7%**
2.0%|
|Rate of increase in salaries|**4.2%**
3.5%|
The current mortality assumptions include sufficient allowance for future improvements in mortality rates. The assumed remaining life expectations on retirement age 65 are:
|**Retiring today:**
Males
Females
**Retiring in 20 years:**
Males
Females
The Society’s share of the assets in the scheme were:|**TWPF**|**TWPF**|
|---|---|---|
||**2021**
**2020**
**21.9**
21.8
**23.6**
25.0
**25.1**
23.5
**26.9**
26.8||
||**TWPF**||
||**2021**|**2020**|
||**%**|**%**|
|Equities
Properties
Government bonds
Corporate bonds
Cash
Other
**Total**|**55.5%**
**7.9%**
**2.2%**
**19.8%**
**4.0%**
**10.6%**
**100.0%**|54.8%
9.0%
4.1%
15.3%
2.3%
14.5%|
|||100.0%|
The actual return on scheme assets was TWPF: (£1,127,000) (2020: £40,000).
**69**
## **21. Defined benefit pension scheme liability (continued)**
**----- Start of picture text -----**
2021 2020
Amounts recognised in the statement of financial activities:
£ £
**----- End of picture text -----**
|Current service cost
Past service cost
Interest income
Interest expense
**Total amount recognised in the SoFA**|**(283,000)**
-
**107,000**
**(102,000)**
**(278,000)**|(278,000)
(21,000)
107,000
(112,000)|
|---|---|---|
|||(304,000)|
|**Changes in the present value of defned beneft obligations were as follows:**|**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Brought forward
Funds brought in on transfer of employment
Current service cost
Past service cost
Remeasurement gains / (losses)
Interest expense
Employee contributions
Actuarial (gain) / loss
Benefts paid
**Carried forward**
**Changes in the fair value of Society’s share of scheme assets:**|**4,438,000**
-
**283,000**
-
-
**102,000**
**48,000**
**1,124,000**
**(85,000)**
**5,910,000**
**2021**|4,843,000
-
278,000
21,000
(148,000)
112,000
45,000
(604,000)
(109,000)|
|||4,438,000|
|||**2020**|
||**£**|**£**|
|Brought forward
Funds brought in on transfer of employment
Interest income
Remeasurement gains / (losses) on assets
Employer contributions
Employee contributions
Benefts paid
**Carried forward**
Fair value of Scheme Assets
Present value of defned beneft obligations
**Defned beneft pension scheme asset / (liability)**|**4,524,000**
-
**107,000**
**1,020,000**
**258,000**
**48,000**
**(85,000)**
**5,872,000**
**5,872,000**
**5,910,000**
**(38,000)**|4,459,000
-
107,000
(235,000)
257,000
45,000
(109,000)|
|||4,524,000|
|||4,524,000
4,438,000|
|||86,000|
**70**
## **22. Analysis of group net assets between funds**
|||**Year Ended 31 March 2021**|**Year Ended 31 March 2021**||
|---|---|---|---|---|
||**Unrestricted**
**Funds**|**Restricted**
**Funds**|**Endowment**
**Funds**|**Total**
**Funds**|
||**£**|**£**|**£**|**£**|
|**Tangible fxed assets**
**Investments**
**Net current assets**
**Pension asset / (liability)**
**Net assets at end of the year**|**2,548,968**
**1,240,620**
**4,362,454**
-
**8,152,042**|**178,740**
**254,071**
**3,130,938**
**(38,000)**
**3,525,749**|-
**970,689**
**91,340**
-
**1,062,029**|**2,727,708**
**2,465,380**
**7,584,732**
**(38,000)**|
|||||**12,739,820**|
||||||
|||**Year Ended 31 March 2020**|||
||**Unrestricted**
**Funds**|**Restricted**
**Funds**|**Endowment**
**Funds**|**Total**
**Funds**|
||**£**|**£**|**£**|**£**|
|Tangible fxed assets
Investments
Net current assets
Pension asset / (liability)
Net assets at end of the year|1,984,437
1,563,027
4,461,879
-
8,009,343|183,719
168,172
2,177,207
86,000
2,615,098|-
990,960
-
-
990,960|2,168,156
2,722,159
6,639,086
86,000|
|||||11,615,401|
**“Yours must be a work of love, of kindness, you must give your time, your talents, yourselves. The poor person is a unique person of God’s fashioning with an inalienable right to respect. You must not be content with tiding the poor over the poverty crisis; you must study their condition and the injustices which brought about such poverty, with the aim** _Frédéric Ozanam_ **of a long term improvement.”**
**71**
## **23. Movement in funds**
**----- Start of picture text -----**
At Gains and At
1 April 2020 Income Expenditure Transfers (losses) 31 March 2021
£ £ £ £ £ £
**----- End of picture text -----**
|**Endowment funds:**
**Subsidiaries (note 17):**
Pen-Y-Pound House capital fund
T B Hunt Trust capital fund
David Young’s Charity
**Charity:**
The Estate of Francis Thompson
**Total endowment funds**
**Restricted funds:**
**Subsidiaries (note 17):**
Pen-Y-Pound House income fund
T B Hunt Trust income fund
David Young’s Charity
**Charity:**
Restricted legacies
Furniture projects
Approved premises, Newcastle
Twinnage
Special restricted funds
Other restricted funds
**Total restricted funds**
**Unrestricted funds:**
_Designated funds:_
Fixed asset fund
Conference funds
Twinnage
Revive Leeds
Kathleen McHugh Legacy
Special designated funds
Other designated funds
Total designated funds
Revaluation reserve
General funds
**Total unrestricted funds**|372,727
243,435
198,007
176,791
**990,960**
102,064
15,826
50,282
1,470,745
142,875
271,142
249,325
48,327
264,512
**2,615,098**
947,656
2,020,806
73,975
138,244
164,033
78,438
114,716
3,537,868
625,477
3,845,998
8,009,343
**11,615,401**|-
-
-
-
-
(1,612)
4,359
9,802
208,521
-
-
807,686
500,000
415,381
**1,944,137**
100
1,715,156
91,877
-
-
6,700
102,494
1,916,327
-
7,285,540
9,201,867
**11,146,004**|-
-
-
-
-
(36,128)
(4,100)
(8,655)
-
-
(20,000)
(691,531)
-
(248,163)
**(1,008,577)**
5,575
(1,390,816)
(31,040)
-
-
-
-
(1,416,281)
-
(7,868,042)
(9,284,323)
**(10,292,900)**|-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(164,033)
-
-
(164,033)
-
164,033
-
-|19,864
48,931
(4,014)
6,288
**71,069**
79,091
-
-
-
-
(104,000)
-
-
-
**(24,909)**
-
(72,141)
-
38,745
-
-
-
(33,396)
-
258,551
225,155
**271,315**|**392,591**
**292,366**
**193,993**
**183,079**|
|---|---|---|---|---|---|---|
|||||||**1,062,029**|
|||||||**143,415**
**16,085**
**51,429**
**1,679,266**
**142,875**
**147,142**
**365,480**
**548,327**
**431,730**|
|||||||**3,525,749**|
||||||||
|||||||**953,331**
**2,273,005**
**134,812**
**176,989**
-
**85,138**
**217,210**|
|||||||**3,840,485**
**625,477**
**3,686,080**|
|||||||**8,152,042**|
|||||||**12,739,820**|
_Details concerning the purposes of endowment, restricted and designated funds can be found on the following pages._
**72**
**----- Start of picture text -----**
Prior year movement in funds Gains and At 31 March
(Restated) At 1 April 2019 Income Expenditure Transfers (losses) 2020
£ £ £ £ £ £
**----- End of picture text -----**
|**Prior year movement in funds**
**(Restated)**|**At 1 April 2019**
**£**|**Income**
**£**|**Expenditure**
**£**|**Transfers**
**£**|**Gains and**
**(losses)**
**£**|**At 31 March**
**2020**
**£**|
|---|---|---|---|---|---|---|
|**Endowment funds:**
**Subsidiaries (note 17):**
Pen-Y-Pound House capital fund
T B Hunt Trust capital fund
David Young’s Charity
**Charity:**
The Estate of Francis Thompson
**Total endowment funds**
**Restricted funds:**
**Subsidiaries (note 17):**
Pen-Y-Pound House income fund
T B Hunt Trust
David Young’s Charity
**Charity:**
Restricted legacies
Furniture projects
Approved premises, Newcastle
Twinnage
Community Projects
B-Attitude
Special restricted funds
Other restricted funds
**Total restricted funds**
**Unrestricted funds:**
_Designated funds:_
Fixed asset fund
Conference funds
Wiedner Holiday fund
Twinnage
Revive Leeds
Kathleen McHugh Legacy
Special designated funds
Other designated funds
Total designated funds
Revaluation reserve
General funds
**Total unrestricted funds**|384,920
250,978
198,007
176,791
**1,010,696**
81,113
11,662
51,191
321,291
150,879
(138,858)
83,889
-
-
48,327
249,177
**858,671**
1,034,685
2,314,949
-
158,150
36,758
164,033
79,323
114,716
3,902,614
535,477
1,644,322
6,082,413
**7,951,780**|-
-
-
-
-
35,058
8,734
5,236
1,413,591
-
-
-
-
-
-
269,215
**1,731,834**
2,500
2,156,731
-
-
-
-
250
-
2,159,481
-
10,095,226
12,254,707
**13,986,541**|-
-
-
-
-
(14,108)
(4,570)
(6,395)
-
(8,004)
41,000
(581,759)
-
-
-
(210,514)
**(784,350)**
(94,328)
(1,791,613)
-
(156,359)
-
-
-
-
(2,042,300)
-
(7,938,498)
(9,980,798)
**(10,765,148)**|-
-
-
-
-
1
-
250
(264,137)
-
-
747,195
-
-
-
(43,366)
**439,943**
4,799
(652,022)
-
72,184
-
-
(1,135)
-
(576,174)
-
136,231
(439,943)
-|(12,193)
(7,543)
-
-
**(19,736)**
-
-
-
-
-
369,000
-
-
-
-
-
**369,000**
-
(7,239)
-
-
101,486
-
-
-
94,247
90,000
(91,283)
92,964
**442,228**|**372,727**
**243,435**
**198,007**
**176,791**|
|||||||**990,960**|
|||||||**102,064**
**15,826**
**50,282**
**1,470,745**
**142,875**
**271,142**
**249,325**
-
-
**48,327**
**264,512**|
|||||||**2,615,098**|
|||||||**947,656**
**2,020,806**
-
**73,975**
**138,244**
**164,033**
**78,438**
**114,716**|
|||||||**3,537,868**
**625,477**
**3,845,998**|
|||||||**8,009,343**|
|||||||**11,615,401**|
**73**
## **23. Movement in funds (continued)**
## **Purposes of endowment funds**
**Pen-Y-Pound House fund:** This is a separate charitable trust controlled by the Society. The Trustees’ main objective is to further the work of the Roman Catholic Church in relieving the poor of the Roman Catholic Archdiocese of Cardiff. The fund comprises a permanent endowment fund which is invested on a recognised stock exchange to provide income for furthering the Trust’s objectives.
**The Estate of Francis Thompson:** This is a permanent endowment fund arising from a legacy. The terms of the legacy are to invest the fund in quoted investments on a recognised stock exchange to provide an income for the Christ the King Conference in Wavertree, Liverpool. The Francis Thompson Income Fund is included in Other Restricted Funds.
**T B Hunt Capital Fund:** This is a permanent endowment fund arising from a legacy. The terms of the legacy are to invest the fund in quoted investments on a recognised stock exchange to provide an income for the T B Hunt Trust Fund.
## **Purposes of restricted funds**
**Pen-Y-Pound Income fund:** This fund is to be spent in relieving the poor of Cardiff.
**David Young’s Charity:** This is a separate charitable trust controlled by the Society. The Trustees’ main objective is to alleviate poverty amongst Catholics. SVP members are eligible to apply to this fund.
## **Restricted legacies:** This fund is an
amalgamation of legacies held by Conferences and at National Office. Following discussions with its professional advisors and the Charity Commission, the Society does not consider legacies to be restricted merely by reason of having been donated for use in a particular geographic area.
**Furniture projects:** This fund is represented by properties acquired with the assistance of Community Fund grants and donations to provide low cost furniture to those in need.
**Approved premises, Newcastle:** This represents Ozanam House and St Christopher’s Hostel, approved premises funded with the help of Ministry of Justice grants. The fund is in deficit as a result of the pension deficit of £38,000 (2020: £86,000) on the Tyne and Wear pension fund as described in note
21. This deficit will be repaid over the period agreed with the pension scheme; this is approximately 20 years.
## **Community projects:** This fund is an
amalgamation of specific grants and donations held by various projects and at National Office to fund support work in a number of areas.
**T B Hunt Trust:** This is a separate charitable trust controlled by the Society. The Trustees’ main objective is to provide help to those in need in the Leicester and Market Harborough areas. The TB Hunt Fund was established with funds left to the SVP by Thomas Bernard Hunt, who died in 1928. His desire was to alleviate poverty among the Catholic poor in the areas of Leicester and Market Harborough. The SVP distributes grants on a quarterly basis to people in need.
## **Special restricted funds:** These comprise:
- **George Blount trust fund**
This fund offers financial assistance to young people up to the age of 20 to enable them to achieve an aim, hope or ambition, which will give direction to their life.
## **• Lucy’s fund**
The fund has been set up from a grant made in memory of the late Lucy Doreen Rope. SVP Conferences may apply to this fund for individuals in need of financial help with travel and equipment costs to return to work.
## **• Gilbert Cooper fund**
The fund is used to award scholarships tenable to any educational establishment for persons under 25 years of age who are in the care of or guardianship of the SVP.
## **• Young Families fund**
This fund was set up in 2006/2007 and exists to support young mothers and their children who are experiencing difficulties.
- **J McLaughlin Holiday fund**
- This fund was established in 2007 to assist disadvantaged individuals by helping to cover the costs of a holiday through one of the Society’s Special Works.
## **Other restricted funds:** Other restricted funds
cover various projects for people in need including local restricted funds held by Conferences and Councils.
**74**
## **Purposes of designated funds**
Generally, designated funds are spent and replenished in a year. Members are encouraged to apply for use of these funds.
**Fixed Asset Fund:** This fund shows the amount of the Society’s funds invested in its unrestricted fixed assets net of any property revaluations. Depreciation relating to fixed assets is charged to the fund on an annual basis.
**Conference Funds:** This fund represents the reserves of the Society that are delegated to the control of Conferences. Each Conference has a bank account and most will also have small petty cash balances. These funds belong to the Society as a whole, and can be called upon by the Trustees if required, but the Society prefers to manage this on a voluntary and consultative basis. Conferences manage their own fundraising and the distribution of the funds under their control within the rules and guidance set out by the Society. Conferences report back their financial activity on a quarterly basis. We encourage Conferences to put their funds to good use and discourage the holding of funds which are surplus to local requirements. We expect funds to be turned over and replenished within one year. Conferences with funds in excess of their requirements are urged to transfer any excess to another part of the Society where the need is greater.
In addition to the funds held directly by Conferences, there are also funds held nationally on behalf of Conferences. This is typically legacies left to the SVP that reference a particular Conference. We ask all Conferences that are mentioned in a legacy to suggest a plan for how they intend to spend the money. We expect that plan to involve spending the legacy in full within 5 years. The plans are subject to review and approval by the Executive Committee or the Board, depending on the size of the legacy. If a Conference does not come up with an acceptable plan then the legacy will be spent by the Society in accordance with the wishes of the benefactor.
**Twinnage:** This represents funds contributed mainly by Conferences specifically to support the activities of the Society’s sister organisations overseas.
a 50% interest. The project generates income by selling items donated from two household waste sites in Leeds. These items have been saved from going into landfill. This designated fund represents the Society’s share of net assets.
**Kathleen McHugh Legacy:** The purpose of the Kathleen McHugh Legacy has now finished and the funds have been transferred from designated to unrestricted.
**Special designated funds:** These comprise a number of funds to which local Conferences can contribute. Applications for grants can be made by Conferences to any of the funds with the exception of the Spiritual Formation fund. The Society expects to spend the current balances within five years. The funds are:
- **Holidays and Camps:** used to provide grants to Conferences and Councils needing to purchase new equipment for the caravans or camps, as well as to Conferences/Councils wishing to send people on a break.
- **Small Furniture Projects:** used to provide grants to SVP furniture projects to improve their service or to kick start the founding of new furniture projects where appropriate.
- **Youth SVP development:** used to help fund the Society’s youth programme and to fund local youth activities which would otherwise not be able to take place.
- **Lourdes Fund:** established to provide grants to Conferences and Councils wishing to send people to Lourdes.
- **Offender Care:** used to provide grants to Conferences and Councils requiring funds for particular Offender needs.
- **Asylum Seeker Care:** used to provide grants to Conferences and Councils requiring funds for particular Asylum Seeker Care needs.
- **Spiritual Formation:** used to support the spiritual development of the Society’s Members.
**Other designated funds:** Other designated funds cover various projects for people in need.
**Revive Leeds:** Revive Leeds is set up as a Community Interest Company in which we hold
**75**
## **24. Operating lease commitments**
The group had total commitments at the year end under operating leases expiring as follows:
||**2021**
**Land and**
**buildings**|**2020**
**Land and**
**buildings**|
|---|---|---|
||**£**|**£**|
|Within 1 year
2-5 years
Over 5 years|**468,074**
**1,080,483**
**884,220**
**2,432,777**|468,074
1,149,783
884,220|
|||2,502,077|
## **25. Related party transactions**
Helen O Shea is a trustee of Porta Pia. The Charity received restricted grant income from Porta Pia of £35,000 (2020: £34,999).
SVP Trading (note 17) - Income received by the Charity amounted to £30,501. Expenditure by the Charity amounted to £57,249. Internal recharges by the Charity amounted to £7,083. Amount due to group undertakings amounted to £69,329 (2020: £98,255).
Revive CIC is a related party as it is a Jointly Controlled Entity as detailed in note 18. During the year the Society received a distribution from Revive CIC of £108,348 (2020: £63,268), this amount was outstanding at the year end and was included in other debtors as the agreement states all profits must be distributed evenly between the member charities.
## **26. Capital commitments**
There were no capital commitments at the year end.
## **27. Post balance sheet events**
There have been no post balance sheet events.
## **28. Financial instruments**
|**28. Financial instruments**|||||
|---|---|---|---|---|
||**Group 2021**|**Charity 2021**|**Group 2020**|**Charity 2020**|
||**£**|**£**|**£**|**£**|
|Financial assets that are debt instruments
measured at amortised cost
Financial liabilities at amortised cost|**1,113,210**
**526,346**|**529,062**
**521,660**|1,775,772
576,988||
|||||249,571|
||||||
|||||560,686|
**76**
## **29. Restated comparative statement of financial activities**
**----- Start of picture text -----**
Unrestricted Restricted Endowment 2020
Funds Funds Funds Total
Note £ £ £ £
**----- End of picture text -----**
|_Note_|**£**|**£**|**£**|**£**|
|---|---|---|---|---|
|**Income**
Donations and legacies
2
Other trading activities
3
Income from investments
Income from charitable activities:
Shops and furniture projects
Holidays and camps
Residential provision
Support centres
Youth development
Other income
**Total income**
**Expenditure**
Expenditure on raising funds
5
Expenditure on charitable activities:
Visits & assistance to individuals and families
Shops and furniture projects
Holidays and camps
Residential provision
Support centres
Twinnage
Youth Development Programme
**Total expenditure**
6
**Net (losses) / gains on investments**
**Share of proft / (loss) in jointly controlled entities**
**Net (expenditure) / income**
Transfers between funds
23
Actuarial losses on defned beneft pension scheme
**Net movement in funds**
23
**Funds at 1 April 2019**
**Funds at 31 March 2020**|6,243,385
92,263
103,012
3,090,357
148,802
2,222,853
214,272
22,598
117,165
**12,254,707**
375,381
2,153,168
3,568,007
391,374
1,804,986
1,231,593
198,145
258,144
**9,980,798**
(8,522)
101,486
2,366,873
(439,943)
-
1,926,930
6,082,413
**8,009,343**|1,388,172
-
48,053
60,161
-
-
142,618
10,000
82,830
**1,731,834**
-
220,275
8,004
15,312
(41,000)
-
581,759
-
**784,350**
-
-
947,484
439,943
369,000
1,756,427
858,671
**2,615,098**|-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(19,736)
-
(19,736)
-
-
(19,736)
1,010,696
**990,960**|**7,631,557**
**92,263**
**151,065**
**3,150,518**
**148,802**
**2,222,853**
**356,890**
**32,598**
**199,995**|
|||||**13,986,541**|
|||||**375,381**
**2,373,443**
**3,576,011**
**406,686**
**1,763,986**
**1,231,593**
**779,904**
**258,144**|
|||||**10,765,148**|
|||||**(28,258)**
**101,486**|
|||||**3,294,621**
-
**369,000**|
|||||**3,663,621**
**7,951,780**|
|||||**11,615,401**|
**77**
## **30. Prior year adjustments**
The comparative figures on the statement of financial activities have been restated to reflect the correction of a material error in the allocation of the actuarial movement on the assets within the defined benefit pension scheme of £235,000. The result of this adjustment has been to reduce expenditure (residential provision) by £235,000 and reduce the actuarial gain. Net income (prior to actuarial movements) has therefore increased by £235,000, although the adjustment has no impact on overall funds at 31 March 2020.
**----- Start of picture text -----**
£
**----- End of picture text -----**
|Net impact as reported within the statutory accounts for the year ended 31 March 2020
Prior period adjustment
Net income as reported within the restated fgures for the year ended 31 March 2020|3,059,621
235,000|
|---|---|
||3,294,621|
The prior year funds brought forward on the statement of financial activities have been restated to reflect the allocation of certain donations and activities of the Charity between restricted and unrestricted funds. The restated allocation on the statement of financial activities is now in line with that presented on the 2020 balance sheet and within the notes to the 2020 financial statements. The comparative figures within note 16 have been restated to reflect the above amendments and the revised comparative SOFA.
**“I’ve seen first-hand how the SVP responds to local need and offers support to anyone with love, compassion and respect, recognising and affirming the dignity and value of each individual. Also, as a successful business woman, I am so impressed by their professional and organised approach to everything they do. I love supporting the SVP and think of them as my “one stop shop” because they address so many of the issues I care about and which are close to my heart.”** _Blossom Fletcher, Tech Entrepreneur_
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## **LEGAL AND ADMINISTRATIVE DETAILS**
## **Status**
The St Vincent de Paul Society (England & Wales) is a charitable company limited by guarantee incorporated on 13 March 1996 and registered as a charity on 25 March 1996.
## **Governing document**
The St Vincent de Paul Society was established under a memorandum of association which established the objects and powers of the organisation and is governed under its articles of association revised and adopted by Special Resolution on 2 August 2019.
Company Number: **3174679**
Charity Number: **1053992**
Registered and Principal Office: **Romero House, 55 Westminster Bridge Road, London, SE1 7JB**
## **Administrative details**
Trustees (from November 2017): Helen O’Shea (National President), James Bellamy (Senior Vice President), Christine Knight (National Treasurer), Ann Harris (until July 2020), Ann Towey (until July 2020), Dermot McGilloway (from July 2020), Elaine Heyworth, Ian Kempsell, Mark Thompson (from July 2020), Michael Willcock, Raymond Daley (until July 2020), Richard Palmi, Sebastian Muir, Susan Roberts (from July 2020), Vince McAllister.
## **Senior Management Team**
Chief Executive Officer: **Elizabeth Palmer** Deputy CEO: **Kate Nightingale** Director of Finance: **Fiona Smith** Director of Governance: **Beverley Whittaker** Director of Fundraising, Communications and Marketing: **Ken Madine** Director of Membership: **Jon Cornwall**
Director of Young Vincentians and Youth Services: **Sarah Barber** Director of Retail, Trading and Social Enterprise: **Helen Voyce**
## **Patrons**
## **Cardinal Vincent Nichols John Battle**
## **Auditors**
## **Saffery Champness LLP**
Mitre House North Park Road Harrogate HG1 5RX
## **Bankers**
## **National Westminster Bank plc**
250 Bishopsgate London EC2M 4AA
## **Solicitors**
## **McCarthy Denning**
25 Southampton Buildings London WC2A 1AL
## **Investment Advisers**
## **Investec Wealth & Investment**
2 Castlefield Court Church Street Reigate Surrey RH2 0AH
## **CCLA**
Senator House 85 Queen Victoria Street London EC4V 4ET
**79**
## **Thank You**
Many people and organisations support the SVP. We can only do what we do as a result of your money, time and encouragement. Thank you to everyone who supported us in 2020-21, including those who wish to remain anonymous.
## **St Vincent’s, Brighton**
- Brighton and Hove City Council
- Ernest Kleinwort Foundation
- Persimmon Homes Community Champions
- Sussex Community Foundation
## **St Vincent’s, Bradford**
- Aspire iGen
- Better Place Bradford
- Bradford Volunteer Centre
- Community Action Bradford & District
- Groundworks
- Home Office
- ICM Creative Communications Limited
- Leeds Beckett University
- Metropolitan City of Bradford Council
- Realistic Business Consortium
- Shipley College
- Yorkshire Water
## **St Vincent’s, Ely Bridge**
- The Welsh Government
## **St Vincent’s, Leeds**
- Aspire iGen
- Crowne Plaza Leeds
- DAC Beachcroft
- Equifax
- Fareshare Yorkshire
- Home Office
- ICM Creative Communications Limited
- Kirklees Law Centre
- Landsec
- Leeds Beckett University
- Leeds City Council
- Leeds Federated Housing
- Leeds Trinity University
- Realistic Business Consortium
- ReThink Food
- Ring Automotive
- The Big Lottery Fund
- The Manuel Bravo project
- The Money Advice Service
- Trinity Leeds
- Veolia Environmental Trust
- Voluntary Action Leeds
- William Dodgson Funeral Homes
- Willis Towers Watson
## **St Vincent’s, Newcastle**
- Asda Foundation
- B&Q Foundation
- Business in the Community
- Community Foundation Tyne & Wear
- Connected Voice Spirit of Christmas
- Co-op Food Share (Moor Farm)
- Morrisons Foundation
- Newcastle City Council / DEFRA
- Newcastle Gateshead Initiative
- NHS Winter Resilience Fund
- Screwfix Foundation
## **St Vincent’s, Sheffield**
- Albert Hunt Trust
- Church Burgesses Trust
- Comic Relief
- Cutlers Company Charitable Trust
- Facey Family Foundation
- Freshgate Trust Foundation
- Great Places Housing
- James Neill Trust Fund
- Joseph Sheldon Trust
- Mrs L. D. Rope’s Third Charitable Settlement
- Queen Victoria and Johnson Memorial Trust
- Sanctuary Housing
- Sheffield City Council
- Sheffield Town Trust
- Sir Harold Hood’s Charitable Trust
- Souter Charitable Trust
- South Yorkshire Community Foundation
- St Agatha’s Community Kickstart Fund
**80**
- The Beatrice Laing Family Trust
- The Hanley Trust
- The Silver Lady Fund
## **National**
- Anthony Scholefield Foundation
- Baxi Heating Charitable Trust
- Crisis
## **St Vincent’s, Southend-on-Sea**
- Albert Hunt Trust
- Cecil Jones Fund
- Essex Community Foundation
- Jeanne Marie Gunn Trust
- John Mountain Memorial Fund
- Rosca Trust
- Southend Emergency Fund
- Haramead Trust
- Marcella and Claude Digby Charitable Trust
- Morrisons Foundation
- National Philanthropic Trust
- Porta Pia 2012 Foundation
- Sir Pierce Lacy Trust
- TK Maxx and Homesense
**81**
**Motivated by their Christian faith and inspired by the message of the Gospels, our volunteers seek and find people in need in their local community, offer them practical support and sincere friendship and tackle poverty wherever they can.**
**“All my life I have followed the poetry of love in preference to the poetry of anger. I will not change now.”**
**— Frédéric Ozanam, founder of the St Vincent de Paul Society**
## **St Vincent de Paul Society**
Romero House 55 Westminster Bridge Road London SE1 7JB
## **DONATE**
**Click here to donate to the SVP and help to change someone’s life**
Keep in touch with us
**call 020 7703 3030 visit svp.org.uk**
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