**Charity Registration No. 1075608** ## **MARIAN FATHERS CHARITABLE TRUST** **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **MARIAN FATHERS CHARITABLE TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **----- Start of picture text -----**
||| |---|---| |Trustees|Fr Tadeusz Marian Byczkowski| |Fr Andrzej Gowkielewicz| |Fr Tomasz Adam Nowaczek| |Fr Dariusz Mazewski| |Fr Wiktor Gumienny| |Fr Jacek Jaroslaw Rygielski| |Charity number|1075608| |Principal address|1 Courtfield Gardens| |Ealing| |London| |W13 0EY| |Auditor|Kendall Wadley LLP| |Granta Lodge| |71 Graham Road| |Malvern| |Worcestershire| |WR14 2JS| |Bankers|Barclays Bank plc| |53 The Broadway| |London| |W5 5JG| |Bank of Scotland plc| |33 Old Broad Street| |London| |EC2N 1HZ| |Solicitors|Pothecary Witham Weld| |70 St George's Square| |London| |SW1V 3RD| |Investment advisors|CCLA| |Senator House| |85 Queen Victoria Street| |London| |EC4V 4ET| |Insurance broker|DE Ford| |Poppleton Grange| |Low Poppleton Lane| |York| |YO26 6GZ| **----- End of picture text -----**
## **MARIAN FATHERS CHARITABLE TRUST** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 7| |Statement of trustees' responsibilities|8| |Independent auditor's report|9 - 11| |Statement of financial activities|12| |Balance sheet|13| |Statement of cash flows|14| |Notes to the financial statements|15 - 28| ## **MARIAN FATHERS CHARITABLE TRUST** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ The trustees present their report and accounts for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Trust Deed, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019) ## **Objectives and activities** ## **Principal Objects** The principal objects of the charity are as declared in the Trust Deed dated 22nd March 1999 "for the advancement of the Roman Catholic Religion as the Trustees shall from time to time with the consent of the Provincial think fit" (Clause 3 of the Trust Deed). The long-term strategies set to achieve these objects are to ensure that the life of the Catholic Community and especially those faithful who rely on the pastoral ministry of the Marian Fathers Congregation is well supported and responsive to changing requirements and to generate and maintain sufficient reserves to ensure the longterm future of the charity. ## **Significant activities** These objects are promoted among both the Polish faithful living in the United Kingdom and worldwide and other ethnic groups through pastoral, spiritual and financial support. In achieving these aims the Charity works closely in co-operation with the Congregation of Marian Fathers worldwide, particularly with the Polish Province of the Congregation of Marian Fathers and also with the Polish Catholic Mission in England and Wales, and with the diocesan Bishops of England and Wales. These objectives have been achieved principally by: - Running Roman Catholic Parish in London-Ealing. - Providing support for the parish priests of the Roman Catholic parishes in the United Kingdom. - Running the Divine Mercy Apostolate and Marian Helpers Association for laity. - Supporting the training of new candidates to the priesthood and religious life in our seminary in LublinPoland and worldwide. - Supporting missionary work of the Marian Fathers worldwide (Cameroon, Ruanda, Philippines, Brazil, Belarus, Ukraine, Kazakhstan, India). - Printing religious materials. - Providing financially affordable accommodation for elderly and vulnerable people at “John Paul II Houses”. - Providing material help for the members of the Congregation of Marian Fathers – operating expenditure – housing, utilities, medical, insurance, travel. Capital expenditure: equipment and repairs of the properties of the Congregation located in the United Kingdom. - Providing grants for organisations, charities and individuals. Beneficiaries of the charity include not only parishioners and members of the Divine Mercy Apostolate and Marian Helpers Association but also the recipients of aid from the many causes supported by the charity through contributions to among others are CAFOD, SPUC, CMRS Trust, Life Charity. - 1 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **TRUSTEES' REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **Public Benefit** The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The Charities Act 2006 requires charities to describe the benefit which is provided to the public. The Charity Commission has commented that "religion helps to provide a moral and ethical framework for people to live by and can play an important part in building social capital and community cohesion". The advancing of the Catholic faith and formation and spiritual support given to the people ministered by the Marian Fathers have many public benefits. It provides an ethical and moral code for society; it provides services of worship, public rituals and ceremonies; it contributes to the spiritual well-being of the public; it contributes to practical ways of addressing social needs and furthering other charitable purposes. ## **Achievements and performance** ## **Marian Helpers Centre / Divine Mercy Apostolate** The Divine Mercy Apostolate of the Marian Fathers Charitable Trust is a community of the Christian faithful, gathered freely in order to attain spiritual benefits and charitable activity of the Church. The Divine Mercy Apostolate is active both in the area of spiritual and intellectual formation of its members, caring for the development of the cult of Divine Mercy and, so important in today's world, comprehensive formation. The purpose of the Association is: - to promote the message and devotion to the Divine Mercy; - to promote devotion to the Blessed Virgin Mary, the Immaculate Mother of God; - to assist the Souls suffering in Purgatory; - to stimulate, foster and sustain priestly and religious vocations; - to assist the members to strive for holiness and to actively participate on behalf of the Apostolic Mission of the Church. Membership in the Divine Mercy Apostolate is open to all the faithful - clergy, religious and laity - who in the spirit of the Marian Fathers, desire to more fully seek its assistance in striving towards Christian perfection. The Apostolate accepts members on a perpetual or temporary basis and admits others to share in the spiritual fruits of the Holy Masses, prayers, and good works of the Marian Fathers. Through our quarterly magazine Messenger of Mercy, and various other materials, members receive information about the Marian family and are encouraged to strive for personal holiness. The Divine Mercy Apostolate organises spiritual retreats and conferences. Services include the enrolment in the Association, novenas throughout the year, a mail order catalogue, overseas pilgrimages, and a variety of publications which inform members about the work of the Marians while promoting devotion to Divine Mercy and the Blessed Virgin Mary. In 2021 due to pastoral activities in London parishes over 100 new members joined the Divine Mercy Apostolate. ## **Publishing activity** In 2021, the Apostolate published a quarterly magazine Messenger of Divine Mercy and disseminated together with the prayer appeals to support our members with the formation materials that help to deepen their faith and the prayer life. - 2 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **Novenas and appeals** In 2021, the following novenas and appeals were sent out to our members: Novena for the Sick 2 -10 February Novena to St Joseph 10 - 18 March Novena to Divine Mercy 14-22 April Devotion to Our Lady in May Devotion to the Most Sacred Heart of Jesus in June Devotion to the Precious Blood of Jesus in July Novena of the Assumption of the BVM 6 - 14 August Novena to St Faustina 26 September- 4 October Holy Rosary in October Poor Souls Appeal in November Year of St Joseph 8 December 2020 – 8 December 2021 Appeal Christmas Novena in December Christmas Card Appeal ## **Lottery Draw** Assumption of the BVM Lottery 15 August Christmas Lottery 25 December ## **Pastoral activities** January 2021 St Georges Cathedral, Southwark April 2021 Aylesford April 2021 St Margaret of Scotland, Kingston April 2021 St Agatha, Kingston June 2021 Walsingham Shrine of Our Lady of Walsingham June 2021 Shrine of Our Lady of Guadalupe August 2021 Aylesford August 2021 Tyburn, Bayswater November 2021 St Saviours, Lewisham November 2021 Holy Cross Catford December 2021 All Saints, Kenton First Friday Devotions are held at Our Lady the Mother of the Church RC Parish, Ealing and was regularly attended by a group of 100 people. This program includes Adoration of the Most Blessed Sacrament, Holy Rosary, Hour of Mercy and Holy Mass. First Saturday Devotions are held in the Apostolate Chapel of Divine Mercy, West Ealing comprising of a Day of Prayer with Our Lady. This program includes Morning and Evening Prayer, Holy Rosary, Holy Mass, Conference and the Hour of Divine Mercy. It usually consists of about 60 people. ## **Charitable activities** Thanks to the dedication of the Marian Helpers, the Apostolate could support the following charitable activities: - The formation of seminarians in the Polish Province of Marian Fathers - Missions in Philippines and Africa - Charitable activities of the Polish Province of the Marian Fathers - 3 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **Ealing Religious House and the Parish** In the year 2021, the Marians of the Religious House in Ealing, London, has continued to provide pastoral care for the faithful of the Polish immigrants’ community and other ethnic groups. Priests have made every effort to provide regular services on Sundays, weekdays, and ordained days, as well as additional services for parish groups as needed. 2021 was special due to the continuing Covid-19 pandemic and slow lifting of limitations associated with it. Average number of faithful attending Sunday Masses in person was around 1500. All the time, all meetings and services were online too. During this year, 300 people attended the daily Internet Mass, and over 3,000 on Sunday. When the church has been reopened to the public, the following restrictions were followed: - everyone is required to disinfect hands before entering the church - NHS test and trace system - recommended face covering - disinfection of the church after each Holy Mass - religious and support group could meet in person and online (Zoom, Teams) - additionally, broadcasts of evening services 7 days a week. Due to the necessity to supervise the safety and hygiene in the church, from January to June over 60 people were involved as volunteers - stewards. Despite all the limitations and restrictions, 50 children received Baptism. An additional 120 children received First Holy Communion, and the Sacrament of Confirmation was given to 45 people, adolescents and adults. 54 couples took part in premarital courses. The sick and the elderly were also covered with pastoral care. They were visited by Marian Fathers in their homes, hospitals and care centers (when the hospital chaplain did not speak English). In the parish church, priests celebrated 25 funeral services. Moreover, they accompanied 20 services in crematorium. The priests also visited 250 families during the annual pastoral visit (between January and March). Due to our rules (one priest visits only one family every single day), it was not possible to visit everyone. In connection with the 350th anniversary of the Marian Fathers, a series of lectures has begun in the parish. We repeated a series of thematic catechesis and posted many videos on our website. Moreover readings and podcasts were posted on the website each week. The parish kept people informed about the necessity to comply with state restrictions, about the possibilities and the need to participate in the vaccination program and provided spiritual help over the phone. The parishioners also experienced the pilgrimage of the image of the Mother of God. It is a special painting which was a gift from Blessed Cardinal Stefan Wyszynski to the Polish community. It was huge opportunity to renew faith, confession, reconciliation in families and pray for the homeland. A commemorative book with the memories of the participants remained in the parish. It is an important testimony to how the pandemic was going through the families for future generations. All our employees came back from the Furlough program. - 4 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **Prayer and Formation groups within the Parish:** Support, formation and prayer groups: - Communities of The Neocatechumenal Way - Teams of Our Lady - Marian Sodality - Parents Prayer Group - Eucharistic Youth Group - Holy Rosary Group - Charismatic Renewal Community - Folk Dancing Group “Żywiec” - Alcoholics Anonymous, Narcotics Anonymous, Adult Children of Alcoholic Parents, Gamblers, Anonymous and Sex Addicts. ## **Liturgical groups:** - Altar ministers - Lectors - Extraordinary Ministers of Holy Communion - Choir “Schola Cantorum” ## **John Paul II Houses** The Charity has continued to provide financially affordable accommodation for 8 elderly or vulnerable persons at John Paul II Houses in London. ## **Divine Mercy Apostolate in London at 1 Courtfield Gardens** 1 Courtfield Gardens building provides a base for a residential house of the Marian Fathers. Divine Mercy Chapel, under the jurisdiction of Westminster Diocese located as a part of the building gives access for daily service in English every day during the week and in Polish on Sundays. Groups of religious interest from Ealing parish and outside are provided with the meeting room for the formation and entertainment purposes. Part of the building still expects refurbishment. ## **Financial review** Total incoming resources for the year amounted to £1,463,038 (2020 £272,827). Income this year includes a donated asset received, a freehold property with a fair value of £1,150,000. Total resources expended amounted to £393,360 in comparison to £278,185 in the prior year. Overall the net movement in funds amounted to a surplus of £1,070,543 (2020 deficit of £7,568). Total reserves held by the charity at the year end amounted to £4,308,877 (2020 £3,238,334), £8,465 relating to restricted funds and £4,300,412 to unrestricted funds. Free reserves held by the charity at the year end, which are unrestricted funds after making allowances for tangible fixed assets and investments amounted to £1,724,866 (2020 £729,046). ## **Reserves Policy** The Trustees are of the opinion that the retained reserves are adequate for the furtherance of its aims of offering pastoral and spiritual support among the faithful and the maintenance of its properties. - 5 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **Investment Policy** The trustees have considered the most appropriate policy for investing funds and has found that a combination of high interest bank accounts and COIF accounts meets their requirement for both income and capital growth. ## **Grant making policy** Grants are awarded at the discretion of the trustees to institutions and to individuals for financial hardship. The total number of individual grants cannot be ascertained, as they are generally for financial hardship and detailed information of recipients is not available. ## **Risk factors** The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Protection Policy** The Marian Fathers Charitable Trust is committed to the safeguarding (child protection) policies of the Catholic Church in England and Wales, to protect children and young people from neglect, physical, emotional and sexual abuse and to promote a safe environment for them. This commitment flows from the fact that we are all made in the image of God and the Church’s common belief in the dignity and uniqueness of every human life. The Trust starts from the principle that each child has a right to expect the highest level of care and protection, love, encouragement and respect that we can give. The Trust will liaise closely with statutory agencies to ensure that any allegations of abuse that may occur are promptly reported and properly dealt with, victims supported and perpetrators held to account. ## **Risk Management** Many operational risks, including health and safety, are covered by insurance and security systems which are regularly reviewed by the Trustees. Financial risks are managed by budgets and internal financial procedures. ## **Plans for the future** The main aims for the coming year are: - to introduce the Formation Programme for the Divine Mercy Group leaders and members as well as Clergy from all over Great Britain in regard to instil the Divine Mercy devotion as part of a pastoral activity in a parish including celebrating the second Sunday of Easter as a Divine Mercy Sunday. This may be achieved by the permission of a local bishop, parish priest with the interest expressed by the parishioners partaking in the days of prayer to Divine Mercy organised and led in all the Catholic parishes by the Marian Fathers. It requires also to extend the existing DM headquarters base at 1 Courtfield Gardens London by renovation of the Annex of the building and refurbishment of the premises to provide an accommodation for an extra number of staff and lecturing area for the visitors. - to continue running the parish as before whilst continuing to strengthen our efforts on the proclaiming of the Gospel. - 6 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **Structure, governance and management** The full name of the charity is 'Marian Fathers Charitable Trust'. The charity is governed by the Trust Deed dated 22 March 1999. Trustees are appointed and removed by the Provincial as defined by Clause 2(c) of the Trust Deed. They are ultimately responsible for the policies, activities and assets of the charity and setting the remuneration of key personnel. The trustees receive training at trustees' meetings, as is deemed appropriate. All decision making is at the discretion of the trustees. The trustees who served during the year were: Fr Tadeusz Marian Byczkowski Fr Andrzej Gowkielewicz Fr Tomasz Adam Nowaczek Fr Dariusz Mazewski Fr Wiktor Gumienny Fr Jacek Jaroslaw Rygielski ## **Auditor** In accordance with the company's articles, a resolution proposing that Kendall Wadley LLP be reappointed as auditor of the company will be put at a General Meeting. On behalf of the board of trustees ## **Fr Jacek Jaroslaw Rygielski** Chairman of the Trust Dated: 24 October 2022 - 7 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ The trustees 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). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. 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; - 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 operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 8 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **INDEPENDENT AUDITOR'S REPORT** ## **TO THE TRUSTEES OF MARIAN FATHERS CHARITABLE TRUST** ## **Opinion** We have audited the financial statements of Marian Fathers Charitable Trust (the ‘charity’) for the year ended 31 December 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows 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 charity’s affairs as at 31 December 2021 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the 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 charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and 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 information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: - the information given in the financial statements is inconsistent in any material respect with the trustees' report; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit. - 9 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MARIAN FATHERS CHARITABLE TRUST** ## **Responsibilities of trustees** As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to 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 auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. ## **Extent to which the audit was considered capable of detecting irregularities, including fraud** - an understanding of the risk assessment process (including the risk of fraud) adopted by the Trustees is obtained and their attitude to risk is ascertained; - an assessment of the susceptibility to material mis-statement of the financial statements as a result of - management over-ride and fraud is made; - it is ensured that the engagement team have, collectively, the appropriate competence, capabilities and skills to be involved in the assignment, are fully briefed and understand the risks specific to the charity ## **Audit response to risks identified** - processes to test the outcomes of our assessment include, a review of Board minutes, analytical review, the relevance and accuracy of significant accounting estimates, substantive testing of significant transactions, work to identify unusual or unexpected accounting entries including testing of journal entries, information disclosed in the financial statements is traced to supporting documentation. In all instances it is acknowledged that material mis-statements that arise from fraud may involve deliberate concealment or collusion and are, therefor, by their very nature harder to detect than those arising from error - an understanding of the legal and regulatory framework as applicable to the charity is obtained together - with knowledge of the procedures put in place by the Board in order to comply with the same - it is established if there have been any instances of non-compliance with applicable laws and regulations, where there are such breaches, a full understanding, including gathering or relevant documentation appertaining to the event is obtained and assessed It should be noted that Auditing standards limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. - 10 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MARIAN FATHERS CHARITABLE TRUST** ## **Other matters** Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice. ## **Use of our report** This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. **Sarah Morley ACA (Senior Statutory Auditor) for and on behalf of Kendall Wadley LLP** 24 October 2022 ## **Chartered Accountants** **Statutory Auditor** Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS Kendall Wadley LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. - 11 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**|**Total**
Unrestricted|**Total**
Unrestricted|Restricted|Total
2020
**£**
115,573
136,550
18,759
1,610
-
335
272,827
22,714
255,471
-
278,185| |---|---|---|---|---|---|---| ||**funds**|**funds**||funds|funds|| ||**2021**|**2021**|**2021**|2020|2020|| ||**£**|**£**|**£**|**£**|**£**|| |**Income and endowments from:**||||||| |Donations and legacies
**3**|128,459|379|128,838|115,161|412|| |Charitable activities
**4**|161,897|-|161,897|136,550|-|| |Other trading activities
**5**|21,983|-|21,983|18,759|-|| |Investments
**6**|158|-|158|1,610|-|| |Material other income
**7**|1,150,000|-|1,150,000|-|-|| |Other income
**8**|162|-|162|335|-|| |||||||| |**Total income**|1,462,659|379|1,463,038|272,415|412|| |**Expenditure on:**||||||| |Raising funds
**9**|29,447|-|29,447|22,714|-|| |||||||| |Charitable activities
**10**|275,063|-|275,063|255,471|-|| |||||||| |Other
**16**|88,850|-|88,850|-|-|| |**Total resources**
**expended**
Net gains/(losses) on
investments
**17**||||||| ||393,360|-|393,360|278,185|-|| ||||865
1,070,543||-
412|| ||865|-||(2,210)||(2,210)| |||||||| |**Net movement in funds**|1,070,164|379||(7,980)||(7,568)| |Fund balances at 1
January 2021
**Fund balances at 31**
**December 2021**||||||3,245,902
3,238,334| ||3,230,248|8,086|3,238,334|3,238,228|7,674|| |||||||| ||4,300,412|8,465|4,308,877|3,230,248|8,086|| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 12 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2021**_ |**Notes**|**2021**|**2021**|**2020**|**2020**| |---|---|---|---|---| ||**£**|**£**|**£**|**£**| |||||| |**Fixed assets**||||| |Tangible assets
**18**
Investments
**19**
**Current assets**|2,700
11,895
2,063,898
2,078,493
(345,162)|2,571,854
3,692
2,575,546
1,733,331
4,308,877
8,465
4,300,412
4,308,877|2,500
20,104
1,052,784
1,075,388
(338,256)|2,498,375| |||||2,827| |||||| |||||| |||||2,501,202| |||||| |Stocks
**21**||||| |Debtors
**22**||||| |Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**23**||||| |Net current assets||||737,132| |**Total assets less current liabilities**||||| |||||| |||||3,238,334| |||||| |||||| |**Income funds**||||| |Restricted funds
**25**||||8,086| |Unrestricted funds||||3,230,248| |||||| |||||| |||||3,238,334| The financial statements were approved by the Trustees on 24 October 2022 Fr Jacek Jaroslaw Rygielski **Trustee** - 13 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **STATEMENT OF CASH FLOWS** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ |**2021**
**Notes**
**£**
**£**
**Cash flows from operating activities**
Cash generated from operations
**30**
1,186,443
**Investing activities**
Purchase of tangible fixed assets
(1,249,787)
Proceeds from disposal of tangible fixed
assets
1,074,300
Investment income received
158
**Net cash used in investing activities**
(175,329)
**Net cash used in financing activities**
-
**Net increase/(decrease) in cash and cash**
**equivalents**
1,011,114
Cash and cash equivalents at beginning of year
1,052,784
**Cash and cash equivalents at end of year**
2,063,898|**2021**
**Notes**
**£**
**£**
**Cash flows from operating activities**
Cash generated from operations
**30**
1,186,443
**Investing activities**
Purchase of tangible fixed assets
(1,249,787)
Proceeds from disposal of tangible fixed
assets
1,074,300
Investment income received
158
**Net cash used in investing activities**
(175,329)
**Net cash used in financing activities**
-
**Net increase/(decrease) in cash and cash**
**equivalents**
1,011,114
Cash and cash equivalents at beginning of year
1,052,784
**Cash and cash equivalents at end of year**
2,063,898|**2020**
**£**
**£**
31,436
(247,074)
-
1,610
(245,464)
-
(214,028)
1,266,812
1,052,784|**2020**
**£**
**£**
31,436
(247,074)
-
1,610
(245,464)
-
(214,028)
1,266,812
1,052,784| |---|---|---|---| ||**£**|**£**|| ||1,186,443
(175,329)
-
1,011,114
1,052,784
2,063,898|(247,074)
-
1,610|| |Investment income received|||| |**Net cash used in investing activities**
**Net cash used in financing activities**
**Net increase/(decrease) in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|||| ||||(245,464)| ||||-| ||||(214,028)| ||||1,266,812
1,052,784| - 14 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **1 Accounting policies** ## **Company information** Marian Fathers Charitable Trust is a registered charity in England and Wales. The principal office is 1 Courtfield Gardens, Ealing, London, W13 0EY. ## **1.1 Accounting convention** The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.4 Incoming resources** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. ## **1.5 Resources expended** All expenses are accounted for on an accrual basis. Liabilities are recognised when they are incurred. Costs of generating funds comprise those costs directly attributable to raising funds through activities. Direct charitable expenditure includes all overhead costs in supporting the direct charitable activities. - 15 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **1 Accounting policies** **(Continued)** Governance costs comprise those costs not already deemed as overhead costs and not associated with achieving the direct charitable activities. Grants payable and receivable are accounted for respectively on payment or receipt. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses. Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows: Freehold land and buildings no charge Fixtures, fittings & equipment 25% on net book value Motor vehicles 25% on cost and 20% net book value The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. FRS102 requires that provision be made for depreciation of fixed assets having a finite life. However, the Trustees are of the opinion that the residual value at the end of the estimated useful life of the freehold buildings is likely to be considerably more than the cost. Therefore, any element of depreciation is considered to be immaterial and no provision is made. ## **1.7 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.8 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/ expenditure for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. - 16 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ **1 Accounting policies** ## **(Continued)** - **1.9 Stocks** Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. ## **1.10 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. ## **1.11 Financial instruments** The charity 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 charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors 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. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors 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. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.12 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.13 Foreign exchange** Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the SOFA. - 17 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ **1 Accounting policies (Continued)** ## **1.14 Property leasing** The charity leases a number of its properties to other organisations on an operating lease basis. Total rents receivable are as detailed in the accounts. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Donations and legacies** ||**Unrestricted**|**Restricted**|**Total**|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---| ||**funds**|**funds**||funds|funds|| ||**2021**|**2021**|**2021**|2020|2020|2020| ||**£**|**£**|**£**|£|£|£| |Donations and gifts|128,459|379|128,838|115,161|412|115,573| - 18 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **4 Charitable activities** ||**Mass stipends**|**Other religous**|
**Rental income**|**Total**|**Mass stipends**|**Other religous**|
**Rental income**|**Total**| |---|---|---|---|---|---|---|---|---| |||**income**||**2021**||**income**||**2020**| ||**2021**|**2021**|**2021**||**2020**|**2020**|**2020**|| ||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**| |Sales within charitable activities|47,737|57,583|56,577|161,897|31,927|58,809|45,814|136,550| - 19 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **5 Other trading activities** ||**2021**|**2020**| |---|---|---| |||| ||**£**|**£**| |||| |Charity draw|6,331|7,459| |Sale of religious goods|15,652|11,300| |||| |||| |Other trading activities|21,983|18,759| |||| |||| |**Investments**||| |**Unrestricted**
Unrestricted
**funds**
funds
**2021**
2020
**£**
£||| ||**funds**|funds| |||| ||**2021**|2020| ||**£**|£| |||| |Income from listed investments|124|153| |Interest receivable|34|1,457| |||| |||| ||158|1,610| ## **6 Investments** ## **7 Material other income** During the year the charity received a donated asset, a freehold property 65 The Ridings, London with a market value of £1,150,000, no restrictions were imposed by the donor. ## **8 Other income** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2021**|2020| ||**£**|£| |Other income|162|335| - 20 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **9 Raising funds** |Costs associated with activities for generating funds
Functions
Cost of religious goods
Charity draw
Costs associated with activities for generating funds
**For the year ended 31 December 2020**
Costs associated with activities for generating funds|**2021**|**2020**| |---|---|---| |||| ||**£**|**£**| |||| ||16,538|16,506| ||11,949|5,079| ||960|1,129| |||| |||| ||29,447|22,714| |||| |||| |||22,714| - 21 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **10 Charitable activities** |**Costs of**
**activities**
**Charitable**
**grants and**
**donations**
**Contribution**
**to Polish**
**Province**
**£**
**£**
**£**|**Costs of**
**activities**
**Charitable**
**grants and**
**donations**
**Contribution**
**to Polish**
**Province**
**£**
**£**
**£**|**Costs of**
**activities**
**Charitable**
**grants and**
**donations**
**Contribution**
**to Polish**
**Province**
**£**
**£**
**£**|**Costs of**
**activities**
**Charitable**
**grants and**
**donations**
**Contribution**
**to Polish**
**Province**
**£**
**£**
**£**|**Total**
**2021**|**Total**
**2020**
**£**
41,717
7,980
5,785
15,260
6,473
13,260
6,405
1,037
16,270
6,263
11,816
7,633
27,040
8,616
29,890
4,233
1,663| |---|---|---|---|---|---| ||||||| ||**£**|**£**|**£**|**£**|| ||||||| |Staff costs|39,404|-|-|39,404|| |Depreciation and impairment|13,158|-|-|13,158|| |Rates|8,865|-|-|8,865|| |Light and heat|10,189|-|-|10,189|| |Insurance|7,343|-|-|7,343|| |Repairs and maintenance|26,690|-|-|26,690|| |House and garden maintenance|7,697|-|-|7,697|| |Books and magazines|1,044|-|-|1,044|| |Printing, postage and stationery|18,943|-|-|18,943|| |Telephone and communications|5,674|-|-|5,674|| |Motor expense|5,888|-|-|5,888|| |Travelling expenses|11,155|-|-|11,155|| |Fathers' expenses|27,420|-|-|27,420|| |Mass stipends|5,060|-|-|5,060|| |Legal and professional|42,271|-|-|42,271|| |Sundry|2,177|-|-|2,177|| |Bank Charges|2,273|-|-|2,273|| |(Profit)/Loss on foreign currency|260|-|-|260|(65)| |Stock movement|(200)|-|-|(200)|4,000
15,000
2,924
5,565
238,765
2,933
13,773
255,471
255,471
255,471| |Polish Province contributions|-|-|10,820|10,820|| |Conference meetings|-|-|-|-|| |Computer costs|8,248|-|-|8,248|| |Grant funding of activities (see note 11)|||||| ||243,559|-|10,820|254,379|| ||||||| ||-|2,728|-|2,728|| |Share of governance costs (see note
12)|||||| ||17,956|-|-|17,956|| |**Analysis by fund**|||||| ||261,515|2,728|10,820|275,063|| |||||275,063
275,063|| |Unrestricted funds|261,515|2,728|10,820||| ||||||| ||261,515|2,728|10,820||| ||||||| |**For the year ended 31 December 2020**|||||| |Unrestricted funds|237,538|2,933|15,000
15,000||| ||||||| ||237,538|2,933|||| - 22 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **11 Grants payable** ||**2021**|**2020**| |---|---|---| ||**£**|**£**| |||| |Charitable donations|2,728|2,933| |||| |||| ||2,728|2,933| ## **12 Support costs** |**Support**
**costs**
**Governance**
**costs**
**£**
**£**|**Support**
**costs**
**Governance**
**costs**
**£**
**£**|**Support**
**costs**
**Governance**
**costs**
**£**
**£**|**2021**|**2020**
**Basis of allocation**
**£**
4,740
Governance
9,033
Governance
13,773
13,773| |---|---|---|---|---| |||||| ||**£**|**£**|**£**|| |||||| |Audit fees|-|4,740|4,740|| |Accountancy|-|13,216|13,216|| |||||| ||-|17,956|17,956|| |||||| |Analysed between||||| |Charitable activities|-|17,956|17,956|| ## **13 Auditor's remuneration** |The analysis of auditor's remuneration is as follows:||| |---|---|---| |**Fees payable to the company's auditor and associates:**|**2021**|**2020**| ||**£**|**£**| |||| |Audit of the company's annual accounts|4,740|4,740| |||| |||| |**Total audit fees**|4,740|4,740| |||| |||| |**Non-audit services**||| |All other non-audit services|9,033|7,824| |||| |||| |**Total non-audit fees**|9,033|7,824| ## **14 Trustees** The Trustees of the Marian Fathers Charitable Trust have taken vows of poverty under which they have renounced all personal rights to income and capital. The Charity provides for the essential needs of all Trustees of the Marian Fathers Charitable Trust. The living costs of the Trustees are therefore borne by the charity. - 23 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **15 Employees** ## **Number of employees** The average monthly number of employees during the year was: |**2021**
**2020**
**Number**
**Number**|**2021**
**2020**
**Number**
**Number**|**2021**
**2020**
**Number**
**Number**| |---|---|---| |||| |Employees|1|1| |||| |||| |**Employment costs**|**2021**|**2020**| ||**£**|**£**| |||| |Wages and salaries|36,661|37,000| |Social security costs|943|2,893| |Other pension costs|1,800|1,824| |||| |||| ||39,404|41,717| |||| |||| |All employees are considered to be key management personnel.||| |||| |There were no employees whose annual remuneration was £60,000 or more.||| |**16**
**Other**|**16**
**Other**|| |---|---|---| |**Unrestricted**
**funds**
**2021**
Net loss on disposal of tangible fixed assets
88,850||| |||Total| ||**funds**|| |||£| ||**2021**|2020| |||| ||88,850|-| |||| |||| |**17**
**Net gains/(losses) on investments**||| |Revaluation of investments||| ||**2021**|**2020**| |||| ||**£**|**£**| ||865|| |||(2,210)| - 24 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **18 Tangible fixed assets** |**Freehold land**
**and buildings**
**Assets under**
**construction**
**£**
**£**|**Freehold land**
**and buildings**
**Assets under**
**construction**
**£**
**£**|**Freehold land**
**and buildings**
**Assets under**
**construction**
**£**
**£**|**Fixtures,**
**fittings &**
**equipment**
**Motor vehicles**
**Total**
**£**
**£**
**£**
150,708
74,258
2,696,903
5,249
55,799
1,249,787|**Fixtures,**
**fittings &**
**equipment**
**Motor vehicles**
**Total**
**£**
**£**
**£**
150,708
74,258
2,696,903
5,249
55,799
1,249,787|**Fixtures,**
**fittings &**
**equipment**
**Motor vehicles**
**Total**
**£**
**£**
**£**
150,708
74,258
2,696,903
5,249
55,799
1,249,787| |---|---|---|---|---|---| |||**£**|**£**||| |**Cost or valuation**|||||| |At 1 January 2021
2,231,067||240,870|150,708||| |Additions
1,150,000||38,739|5,249||| |Disposals
(1,150,000)||-|-|(58,500)
(1,208,500)|| ||||||2,738,190
198,528
13,158| |At 31 December 2021|2,231,067|279,609|155,957|71,557|| |**Depreciation and impairment**|||||| |At 1 January 2021|-|-|133,919|64,609|| |Depreciation charged in the year|-|-|5,499|7,659|| |Eliminated in respect of disposals|-|-|-|(45,350)|(45,350)| ||||||166,336
2,571,854
2,498,375| |At 31 December 2021|-|-|139,418|26,918|| ||||||| |**Carrying amount**|||||| |At 31 December 2021|2,231,067|279,609|16,539|44,639|| ||||||| |At 31 December 2020|2,231,067|240,870|16,789|9,649|| On transition to FRS102 the Trustees adopted the cost model for recognising the freehold properties of the Marian Fathers Charitable Trust. ## **19 Fixed asset investments** ||**Listed**| |---|---| ||**investments**| ||**£**| |**Cost or valuation**|| |At 1 January 2021|2,827| |Valuation changes|865| |At 31 December 2021|3,692| |**Carrying amount**|| |At 31 December 2021|3,692| |At 31 December 2020|2,827| - 25 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ |**20**
**Financial instruments**|**2021**|**2020**| |---|---|---| |**Carrying amount of financial assets**
Instruments measured at fair value through profit or loss
**21**
**Stocks**|**£**|**£**| |||| ||3,692|2,827| |||| |||| |Finished goods and goods for resale
**22**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**23**
**Creditors: amounts falling due within one year**|**2021**|**2020**| ||**£**|**£**| |||| ||2,700|2,500| |||| |||| ||**2021**|**2020**| ||**£**|**£**| |||| ||500|-| ||11,395|20,104| |||| |||| ||11,895|20,104| |||| |||| |Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2021**|**2020**| ||**£**|**£**| |||| ||522|595| ||1,494|9,614| ||325,847|314,989| ||17,299|13,058| |||| |||| ||345,162|338,256| ## **24 Retirement benefit schemes** ## **Defined contribution schemes** The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The charge to profit or loss in respect of defined contribution schemes was £1,800 (2020 - £1,824). - 26 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **25 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: ||||**Movement**||**Movement**|| |---|---|---|---|---|---|---| ||||**in funds**||**in funds**|| |||**Balance at**|**Incoming**|
**Balance at**|**Incoming**|**Balance at**| ||**1**|**January 2020**|**resources**|**1 January 2021**|**resources**|**31 December**| |||||||**2021**| |||**£**|**£**|**£**|**£**|**£**| |Saint Faustina Fund||7,674|412|8,086|379|8,465| Saint Faustina Fund - this fund represents monies received for the planning and development of 1 Courtfield Gardens. ## **26 Analysis of net assets between funds** |**Unrestricted**
**funds**
**Restricted**
**funds**
**2021**
**2021**
**£**
**£**
Fund balances at 31
December 2021 are
represented by:|**Unrestricted**
**funds**
**Restricted**
**funds**
**2021**
**2021**
**£**
**£**
Fund balances at 31
December 2021 are
represented by:|**Unrestricted**
**funds**
**Restricted**
**funds**
**2021**
**2021**
**£**
**£**
Fund balances at 31
December 2021 are
represented by:|**Total**
Unrestricted
funds|**Total**
Unrestricted
funds|Restricted
funds|Total| |---|---|---|---|---|---|---| |||||||| ||**2021**|**2021**|**2021**|2020|2020|2020| ||**£**|**£**|**£**|£|£|£| |||||||| |Tangible assets|2,571,854|-|2,571,854|2,498,375|-|2,498,375| |Investments|3,692|-|3,692|2,827|-|2,827| |Current assets/(liabilities)|1,724,866|8,465|1,733,331|729,046|8,086|737,132| |||||||| |||||||| ||4,300,412|8,465|4,308,877|3,230,248|8,086|3,238,334| ## **27 Related party transactions** There were no disclosable related party transactions during the year (2020 - none). ## **28 Consolidation** Marian Fathers Charitable Trust consolidated accounts comprise of the following: - Apostolate, Henley-on-Thames - U.K. Province Vicariate, Henley-on-Thames - Ealing Religious House, Ealing ## **29 Auditors' Ethical Standards** The relevant circumstances requiring disclosure in accordance with the requirements of APB Ethical Standard - Provisions Available for Small Entities are that, in common with many charities of our size and nature we use our auditors to assist in the preparation of the accounts. - 27 - ## **MARIAN FATHERS CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ |**30**
**Cash generated from operations**|**2021**|**2020**
**£**| |---|---|---| |Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Loss on disposal of tangible fixed assets
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in stocks
Decrease/(increase) in debtors
Increase in creditors
**Cash generated from operations**|**£**|| ||1,070,543|| |||(7,568)| |||| ||(158)|(1,610)| ||88,850|-
2,210
7,980
4,000| ||(865)|| ||13,158|| |||| ||(200)|| ||8,209|(994)| ||6,906|27,418
31,436| |||| ||1,186,443|| |||| |**31**
**Analysis of changes in net funds**||| The charity had no debt during the year. - 28 -