|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|5|
|Report ofthe Independent
Auditors|6|to|8|
|Statement ofFinancial Activities||||
|Balance Sheet||||
|Cash Flow Statement||||
|Notes to the Cash Flow Statement||12||
|Notes to the Financial Statements|13|to|18|
|Detailed Statement ofFinancial Activities||19||
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|REFERENCE AND ADMINISTRATIVE DETAILS|REFERENCE AND ADMINISTRATIVE DETAILS|
|---|---|
|Auditors||
|Sheen Stickland||
|Chartered
Accountants||
|Statutory
Auditors||
|7East Pallant||
|Chichester||
|West Sussex||
|PO19 1TR||
|Bankers||
|HSBC||
|95 Gloucester Road||
|South Kensington||
|London||
|SW74SX||
|Solicitors||
|Withers LLP||
|Third Floor||
|20 Old Bailey||
|London||
|EC4M 7AN||
|Investment
managers||
|Pavilion Advisory|Group|
|227 W. Monroe Street||
|Suite 2020||
|Chicago, Illinois|60606|
|USA||
|312-798-3200||
|www. pavilion. corp.corn||
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||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment|Total|Total|
|||||fund|fund|fund|funds|funds|
||||Notes||||||
|INCOME AND|||||||||
|ENDOWMENTS|FROM||||||||
|Donations
and legacies||||13,696|||13,696|19,926|
|Investment
income||||||39,052|39,052|50,385|
|Total||||13,696||39,052|52,748|70,311|
|EXPENDITURE|ON||||||||
|Raising funds||||10,824||1,189|12,013|13,257|
|Charitable
activities|||||||||
|Education
and research||costs||13,697||76,169|89,866|48,179|
|Total||||24,521||77,358|101,879|61,436|
|Net gains on investments||||||652,959|652,959|27,288|
|NET|||||||||
|INCOME/(EXPENDITURE)||||(10,825)||614,653|603,828|36,163|
|Other recognised|gains/(losses)||||||||
|Unrealised
exchange
movements||||~10,084)|1,948|~33),327)|~339,463)|145,542|
|Net movement
in|funds|||(20,909)|1,948|283,326|264,365|181,705|
|RECONCILIATION||OF|||||||
|FUNDS|||||||||
|Total funds brought||forward||28,651|15,249|3,218,341|3,262,241|3,080,536|
|TOTAL FUNDS|CARRIED||||||||
|FORWARD||||7,742|17,197|3,501,667|3,526,606|3,262,241|
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||||||2021|?02()|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowtttettt|Total|Total|
|||fund|fund|futld|funds|fut]ds|
||Notes|f||f|||
|FIXEDASSFTS|||||||
|lnvcstntcnLs||||3,510,421|3,510,421|3,024,403|
|(URREtt(T ASSETS|||||||
|«ash a( hank||32,135|17,197|32,858|82,190|308,488|
|CREDITORS|||||||
|Amounts
foal/ing duc within one|||||||
|year|]0|{24,393)||{41,612)|(665005)|{70,650)|
|WF.r CURRENT'r. ASSETS||7,742|||16,155|237 1135|
|TOTAL ASSETSLESS|||||||
|CURRENT I.IABII.ITIES||7,742|17.197|3,501,667|3,526.606|3,262,241|
|iNET ASSETS||7,742|17,157|3,501.667|3,576,606|3,262.2'11|
|FI)lffiDS|||||||
|1lnrcstrictcd
htnds|||||7,742|28,651|
|I(cS(tiC(cd lunds|||||17,197|15,249|
|Endowment
funds|||||3,501,667|3,218.341|
|TOTAL FUNDS|||||3,52(i.606|3,262,241|
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||||2021|2020|
|---|---|---|---|---|
|||Notes|||
|Cash flows from operating|activities||||
|Cash generated
from operations||1|~40,714)|71,315|
|Net cash (used in)/provided|by operating|activities|~40,7 14)|71,315|
|Cash flows from investing|activities||||
|Purchase offixed asset investments|||(216,430)|(538,167)|
|Sale offixed asset investments|||69,152|685,940|
|Dividends
received|||39,052|50,385|
|Net cash (used in)/provided|by investing|activities|L)08,226)|198,158|
|Cash flows from financing|activities||||
|Expenditure
attributable
to|endowment||~77,358)|/38,778)|
|Net cash used in financing|activities||~77,358)|~38,778)|
|Change
in cash and cash|equivalents|in|||
|the reporting
period|||(226,298)|230,695|
|Cash and cash equivalents|at the||||
|beginning
ofthe reporting|period||308,488|77,793|
|Cash and cash equivalents|at the end|of|||
|the reporting
period|||82,190|308,488|
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|RECONCILIATION|OF NET INCOME TO NET CASH FLOW FROM|OF NET INCOME TO NET CASH FLOW FROM|OPERATING||
|---|---|---|---|---|
|ACTIVITIES|||||
||||2021|2020|
|Net income for the reporting||period (as per the Statement ofFinancial|||
|Activities)|||603,828|36,163|
|Adjustments
for:|||||
|Gain on investments|||(652,959)|(27,288)|
|Dividends
received|||(39,052)|(50,385)|
|Expenditure
attributable|to endowment||77,358|38,778|
|(Gains)/losses
on exchange
(Decrease)/increase
in creditors|||(25,244)
~4,648|71,122
2,925|
|Net cash (used in)/provided||by operations|+40,714)|71,315|
|ANALYSIS OF CHANGES||IN NET FUNDS|||
|ANALYSIS OF CHANGES IN NET|FUNDS|||
|---|---|---|---|
||At 1.7.20|Cash flow|At 30.6.21|
|Net cash||||
|Cash at bank|308,488|(226,298)|82,190|
||308,488|(226,298)|82,190|
|Total|308,488|(226,298)|82,190|
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|2.|DONATIONS
AND|DONATIONS
AND|LEGACIES|LEGACIES|LEGACIES|||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2021|2020|
||Grants|||||||13,696|19,926|
||Grants received, included|||in|the above, are as|follows:||||
|||||||||2020|2019|
||StJoseph's|Hospital|and Medical Center|||||19,926|48,363|
|3.|INVESTMENT INCOME|||||||||
|||||||||2021|2020|
||Dividend
income|||||||39,052|50,385|
|4.|RAISING|FUNDS||||||||
||Investment|management||costs||||||
|||||||||2021|2020|
||Portfolio management|||||||1,190|1,223|
|5.|GRANTS|PAYABLE||||||||
|||||||||2021|2020|
||Education|and research costs||||||76,169|37,555|
||Grants made to institutions||||for the furtherance|ofthe Charity's|objects were:|||
|||||||||2021|2020|
||Institutions:|||||||||
||St Joseph's|Hospital|and Medical Center|||||76,169|37,555|
|||||||||76,169|37,555|
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|FIXEDASSET INVESTMENTS||
|---|---|
||Listed|
||investments|
|MARKET VALUE||
|At 1stJuly 2020|3,024,403|
|Additions|216,430|
|Revaluations|583,807|
|Exchange losses|~314,219)|
|At 30th June 2021|3,510,421|
|NET BOOK VALUE||
|At 30th June 2021|3,510,421|
|At 30th June 2020|3,024,403|
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|||||Listed|
|---|---|---|---|---|
|||||investments|
|Valuation
in 2021||||3,510,421|
|CREDITORS: AMOUNTS FALLING DUE||WITHIN ONE YEAR|||
||||2021|2020|
|Other creditors|||55,193|56,154|
|Accruals
and deferred income|||10,812|14,496|
||||66,005|70,650|
|MOVEMENT IN FUNDS|||||
||||Net||
||||movement|At|
|||At 1.7.20|in funds|30.6.21|
|Unrestricted
funds|||||
|General fund||28,651|(20,909)|7,742|
|Restricted
funds|||||
|Split Immunity
Project||15,249|1,948|17,197|
|Endowment
funds|||||
|Expendable
Endowment|Fund|3,218,341|283,326|3,501,667|
|TOTAL FUNDS||3,262,241|264,365|3,526,606|
||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
|Unrestricted|funds||||||
|General
fund|||13,696|(24,521)|(10,084)|(20,909)|
|Restricted|funds||||||
|Split Immunity
Project|||||1,948|1,948|
|Endowment|funds||||||
|Expendable|Endowment|Fund|39,052|(77,358)|321,632|283,326|
|TOTAL FUNDS|||52,748|~101,879)|313,496|264,365|
##
||||Net|Transfers||
|---|---|---|---|---|---|
||||movement|between|At|
|||At 1.7.19|in funds|funds|30.6.20|
|Unrestricted
funds||||||
|General fund||37,445|(27,613)|18,819|28,651|
|Restricted
funds||||||
|Split Immunity
Project||15,735|(486)||15,249|
|Endowment
funds||||||
|Expendable
Endowment|Fund|3,027,356|209,804|(18,819)|3,218,341|
|TOTAL FUNDS||3,080,536|181,705||3,262,241|
|||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|
|||resources|expended|losses|in funds|
|Unrestricted
funds||||||
|General fund||19,926|(22,658)|(24,881)|(27,613)|
|Restricted
funds||||||
|Split Immunity
Project||||(486)|(486)|
|Endowment
funds||||||
|Expendable
Endowment|Fund|50,385|(38,778)|198,197|209,804|
|TOTAL FUNDS||70,311|/61,436)|172,830|181,705|
|A current year 12months|and prior year 12months|combined|position is as follows:|||
||||Net|Transfers||
||||movement|between|At|
|||At 1.7.19|in funds|funds|30.6.21|
|Unrestricted
funds||||||
|General fund||37,445|(48,522)|18,819|7,742|
|Restricted
funds||||||
|Split Immunity
Project||15,735|1,462||17,197|
|Endowment
funds||||||
|Expendable
Endowment|Fund|3,027,356|493,130|(18,819)|3,501,667|
|TOTAL FUNDS||3,080,536|446,070||3,526,606|
##
|||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|
|||resources|expended|losses|in funds|
|Unrestricted
funds||||||
|General fund||33,622|(47,179)|(34,965)|(48,522)|
|Restricted
funds||||||
|Split Immunity
Project||||1,462|1,462|
|Endowment
funds||||||
|Expendable
Endowment|Fund|89,437|(116,136)|519,829|493,130|
|TOTAL FUNDS||123,059|(163,315)|486,326|446,070|
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||||2021|2020|
|---|---|---|---|---|
|INCOME AND ENDOWMENTS|||||
|Donations
and legacies|||||
|Grants|||13,696|19,926|
|Investment
income|||||
|Dividend
income|||39,052|50,385|
|Total incoming
resources|||52,748|70,311|
|EXPENDITURE|||||
|Raising donations
and|legacies||||
|Consultancy
fees|||10,823|12,034|
|Investment
management||costs|||
|Portfolio management|||1,190|1,223|
|Charitable
activities|||||
|Grants to institutions|||76,169|37,555|
|Support costs|||||
|Management|||||
|Travel and subsistence||||6,376|
|Finance|||||
|Bank charges||||54|
|Governance
costs|||||
|Auditors'
remuneration
Professional
fees|||5,569
8,128|5,771
~1,577)|
||||13,697|4,194|
|Total resources expended|||101,879|61,436|
|Net (expenditure)/income||before gains and|||
|losses|||(49,131)|8,875|
|Realised recognised
gains||and losses|||
|Realised gains/(losses)|on|fixed asset investments|69,152|/20, 056)|
|Net income/(expenditure)|||20,021|~)1,)81)|