| Page | |||
|---|---|---|---|
| Reference and administrative details |
|||
| Report ofthe trustees | 2 | to | 4 |
| Independent esaminer's report |
|||
| Statement offinancial activities |
6 | to | 7 |
| Balance sheet | 8 | to | 9 |
| Notes to the financial statements | 10 | to | 17 |
| Detailed statement offinancial activities |
18 |
| for | the year ended 3 | 0June 2022 | |||||
|---|---|---|---|---|---|---|---|
| Unrestricte | |||||||
| Unrestricted | Unrestricted | Palendriai | |||||
| fund | Main Fund | Fund | |||||
| Notes | |||||||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Donations and legacies |
2 | 150,231 | |||||
| Investment income |
44,984 | 8,373 | |||||
| Total | 195,215 | 8,373 | |||||
| EXPENDITURE ON | |||||||
| Raising funds | 26,590 | 4)182 | |||||
| Charitable activities |
|||||||
| Support costs | 19,377 | (1,150) | |||||
| Grants | 328,274 | ||||||
| Total | 374,241 | 3,032 | |||||
| Net gains on investments | 166,424 | 28,765 | |||||
| NET INCOME/(EXPENDITURE) | (12,602) | 34,106 | |||||
| Other recognised gains/(losses) Gains/(losses) on revaluation offixed assets |
~53,132) | ~9,786) | |||||
| Net movement in funds |
(65,734) | 24,320 | |||||
| RECONCILIATION OF FUNDS |
|||||||
| Total funds brought forward |
4,457,548 | 722,602 | |||||
| TOTAL FUNDS CARRIED | FORWARD | 4,391,814 | 746,922 | i |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Restncted | ||||||
| Contingency | Total | Total | ||||
| Fund | funds | funds | ||||
| Notes | 5 | |||||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies |
150,231 | 129,874 | ||||
| Investment income |
895 | 54,252 | 70,809 | |||
| Total | 895 | 204,483 | 200,683 | |||
| EXPENDITURE | ON | |||||
| Raising funds | 4,548 | 35,320 | 35,428 | |||
| Charitable activities |
||||||
| Support costs Grants |
18,227 328,274 |
27,377 ~10,737) |
||||
| Total | 4,548 | 381,821 | 52,068 | |||
| Net gains/(losses) | on investments | 1,916 | 197,105 | ~157,735) | ||
| NET INCOME/(EXPENDITURE) | (1,737) | 19,767 | (9,120) | |||
| Other recognised | gains/(losses) | |||||
| Gains/(losses) on revaluation |
offixed assets | 108,831 | 45,913 | (133,125) | ||
| Net movement in |
funds | 107,094 | 65,680 | (142,245) | ||
| RECONCILIATION OF FUNDS |
||||||
| Total funds brought forward |
733,754 | 5,913,904 | 6,056,150 | |||
| TOTAL FUNDS | CARRIED | FORWARD | 840,848 | 5,979,584 | 5,913,905 |
| Unrestricte | ||||
|---|---|---|---|---|
| Unrestricted | Unrestricted | Palendriai | ||
| fund | Main Fund | Fund | ||
| Notes | ||||
| FIXEDASSETS | ||||
| Investments | 2,450,690 | 388,261 | ||
| CURRENT ASSETS | ||||
| Debtors | 10 | 43,119 | ||
| Cash at bank | 11 | 1,946,336 | 361,953 | |
| 1,989,455 | 361,953 | |||
| CREDITORS | ||||
| Amounts falling due within one year |
12 | (48,331) | (3,292) | |
| NET CURRENT ASSETS | 1r941,124 | 358,661 | ||
| TOTAL ASSETSLESSCURRENT | ||||
| LIABILITIES | 4,391,814 | 746,922 | ||
| NET ASSETS | 4,391,814 | 746,922 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Restricted | ||||
| Contingency | Total | Total | ||
| Fund | funds | funds | ||
| Notes | ||||
| FIXEDASSETS | ||||
| Investments | 823,650 | 3,662,601 | 4,345,727 | |
| CURRENT ASSETS | ||||
| Debtors | 10 | 43,119 | ||
| Cash at bank | 11 | 17,198 | 2,325,487 | 1,601,831 |
| 17,198 | 2,368,606 | 1,601,831 | ||
| CREDITORS | ||||
| Amounts falling due within one year |
12 | (51,623) | (33,653) | |
| NET CURRENT ASSETS | 17,198 | 2,316,983 | 1,568,178 | |
| TOTAL ASSETSLESSCURRENT | ||||
| LIABILITIES | 840,848 | 5,979,584 | 5,913,905 | |
| NET ASSETS | 840,848 | 5,979,584 | 5,913,905 | |
| FUNDS | 13 | |||
| Unrestricted funds: |
||||
| Palendria Fund |
746,922 | 722,601 | ||
| Main Fund | 4,391,SI4 | 4457 MSII | ||
| 5,138,736 | 5,180,151 | |||
| Restricted funds; |
||||
| Contingency Fund |
840,848 | 733,754 | ||
| TOTAL FUNDS | 5,979,584 | 5,913,905 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| 5 | ||||||
| St | Benedict | ofNursia | Foundation | (US) | 150,231 | 129,874 |
| During the year, donation |
During the year, donation |
of 6150,231 | of 6150,231 | was | received | received | from | a | US | Foundation, | Saint Benedict of Nursia |
Saint Benedict of Nursia |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Foundation. According |
to the ERGA, donation | should | be used | solely | and exclusively for the benefit of the |
|||||||
| Benedictine Community |
ofthe Abbaye Saint-Pierre | de Solesmes. | ||||||||||
| INVESTMENT INCOME | ||||||||||||
| 2022 | 2021 | |||||||||||
| 6 | ||||||||||||
| Income from investments | 53,461 | 70,809 | ||||||||||
| Deposit account interest | 791 | |||||||||||
| 54,252 | 70,809 | |||||||||||
| RAISING FUNDS | ||||||||||||
| Raising donations and legacies |
||||||||||||
| 2022 | 2021 | |||||||||||
| Rathbones management |
fees | ~35320 | 35,428 | |||||||||
| GRANTS PAYABLE | ||||||||||||
| 2022 | 2021 | |||||||||||
| Grants | 328,274 | /10,737) | ||||||||||
| The total grants paid to institutions | during | the year | was as | follows: | ||||||||
| 2022 | 2021 | |||||||||||
| 5 | ||||||||||||
| Aid to the Church in Need |
6,000 | (4,473) | ||||||||||
| Church in Syria Carmelites ofKottayam, |
Kerala | (6,264) | ||||||||||
| 25,413 | ||||||||||||
| Missions Etrangeres (Hong Kong) |
16,942 | |||||||||||
| Quarr Abbey | ||||||||||||
| 5,000 | ||||||||||||
| Friends ofSolesmes | 43,202 | |||||||||||
| Our Lady ofWalshingham | 3,000 | |||||||||||
| Grand Seminaire De Boma | 16,942 | |||||||||||
| Palendriai Lituania(Palendriu |
sv. Benedikto vienuolynas) | 211,775 | ||||||||||
| 328,274 | ~10,737) |
| Governance | ||||||
|---|---|---|---|---|---|---|
| Finance | costs | Totals | ||||
| Support costs | 203 | 18,024 | 18,227 | |||
| Support costs, included | in the above, are as follows: | |||||
| Finance | ||||||
| 2022 | 2021 | |||||
| Support | Total | |||||
| costs | activities | |||||
| Bank charges | 203 | 143 | ||||
| Governance | costs | |||||
| 2022 | 2021 | |||||
| Support | Total | |||||
| costs | activities | |||||
| Independent | examination | 1,000 | 900 | |||
| Legal &professional | fees | 10,470 | 7,374 | |||
| Accountancy | fees | 6,554 | 18,960 | |||
| 18,024 | 27,234 |
| Unrestricted | Restricted | |||||
|---|---|---|---|---|---|---|
| Palendriai | Contingency | Total | ||||
| Fund | Fund | funds | ||||
| INCOME | AND | |||||
| ENDOWMENTS | FROM | |||||
| Donations | and legacies | 129,874 | 129,874 | |||
| Investment | income | 62,275 | 7,778 | 756 | 70,809 | |
| Total | 62,275 | 7,778 | 130,630 | 200,683 | ||
| EXPENDITURE | ON | |||||
| Raising funds | 27,136 | 4,263 | 4,029 | 35,428 | ||
| Charitable | activities | |||||
| Support costs | 25,236 | 2,140 | 1 | 27,377 | ||
| Grants | (10,737) | (10,737) |
| Unrestricted | Restricted | ||||||
|---|---|---|---|---|---|---|---|
| Palendriai | Contingency | Total | |||||
| Fund | Fund | funds | |||||
| f | f | ||||||
| Total | 41,635 | 6,403 | 4,030 | 52,068 | |||
| Net gains/(losses) investments |
on | ~135,818) | ~19,851) | ~2,066) | ~157,735) | ||
| NET | |||||||
| INCOME/(EXPENDITURE | (115,178) | (18,476) | 124,534 | (9,120) | |||
| ) | |||||||
| Other recognised | |||||||
| gains/(losses) | |||||||
| Gains/(losses) on offixed assets |
revaluation | ~89,469) | ~17,035) | ~26,62I ) | ~133,125) | ||
| Net movement in |
funds | (204,647) | (35,511) | 97,913 | (142,245) | ||
| RECONCILIATION | OF | ||||||
| FUNDS | |||||||
| Total funds brought | |||||||
| forward | 4,662,197 | 758,112 | 635,841 | 6,056,150 | |||
| TOTAL FUNDS | |||||||
| CARRIED FORWARD | 4457,550 | 722,601 | 733754 | 5,913,905 | |||
| 9. | FIXEDASSETINVESTMENTS | ||||||
| Listed | |||||||
| investments | |||||||
| MARKET VALUE | |||||||
| At 1 July 2021 |
4,345,727 | ||||||
| Additions | 103,397 | ||||||
| Disposals | (843,217) | ||||||
| Revaluations | 56,694 | ||||||
| At 30 June 2022 | 3,662,601 | ||||||
| NET BOOK VALUE | |||||||
| At 30 June 2022 | ~3,662 601 | ||||||
| At 30 June 2021 | 4,345,727 |
| Balance | Net | Balance | |||||
|---|---|---|---|---|---|---|---|
| I July | Purchases | Gains/ | 30June | ||||
| 2021 | at cost | Disposals | (Losses) | 2022 | |||
| 6 | |||||||
| Main Fund | 3,112,233 | 86,487 | 703,891 | (44,139) | 29450,690 | ||
| Palendriai | Fund | 518,675 | 16,910 | 139,326 | (7,998) | 388,261 | |
| Contingency | Fund | 714,819 | 108,831 | 823,650 | |||
| 4,345,727 | 103,397 | 843,217 | 56,694 | 3,662,601 |
| 2022 | 2021 | |
|---|---|---|
| UK Equities | 357,087 | 372,927 |
| UK Securities | 835,858 | 852,276 |
| Overseas Equities | 1,298,869 | 1,343,332 |
| Overseas Securities | 1,170,787 | 1,777,192 |
| Total market value at 30June 2022 | 3,662,601 | 4~345 727 |
| 2022 | 2021 |
|---|---|
| 43,119 |
| CASH AT | BANK | |||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Palendria | Contingency | Total | Total | |||
| Fund | Main Fund | Fund | fu litt s | funds | ||
| 6 | 8 | |||||
| Metro bank | 2,019 | 2,019 | 2,173 | |||
| Rathbones | capital- | |||||
| Sterling Accounts | 19,117 | 95,159 | 114,276 | |||
| Rathbones | capital - Euro | |||||
| accounts | 61,718 | 166,411 | 228,129 | 636,649 | ||
| Rathbones | capital - US$ | |||||
| Accounts | 235,164 | 1,542,251 | 14,454 | 1,791,869 | 812,479 | |
| Rathbones | capital - CHF | |||||
| Accounts | 182 | 12,776 | 12,958 | 37,804 | ||
| - Sterling Accounts | 10,169 | 49,481 | 59,650 | 33,508 | ||
| Rathbones | income - AUS$ | |||||
| Accounts | 1,419 | 5,233 | 6,652 | 2,828 | ||
| Rathbones | income - Euro | |||||
| Accounts | 12,957 | 11,639 | 24,596 | 22,185 | ||
| Rathbones | income - US$ | |||||
| Accounts | 14,822 | 51,708 | 2,744 | 69,274 | 42,984 | |
| Rathbones | income - CHF | |||||
| Accounts | 6,405 | 9,659 | 16,064 | 11,221 | ||
| Total | 361,953 | 1,946,336 | 17,198 | 2&325&487 | 1,601,831 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Other creditors | ~51 623 | 33,653 | |||
| 13. | MOVEMENT | IN FUNDS | |||
| Net | |||||
| movement | At | ||||
| At 1.7.21 | in funds | 30.6.22 | |||
| Unrestricted funds |
|||||
| Palendria Fund Main Fund |
722,602 4,457,548 |
24,320 ~65,734) |
746,922 4,391,814 |
||
| 5,180,150 | (41&414) | 5,138&736 | |||
| Restricted funds | |||||
| Contingency Fund |
733,754 | 107,094 | 840,848 | ||
| TOTAL FUNDS | 5,913,904 | 65,680 | 5,979,584 |
| lnconting | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | |||
| Unrestricted | funds | |||||
| Palendria Fund Main Fund |
8,373 195,215 |
(3,032) (374,2411) |
Igi979 113,292 |
24,320 f65,734) |
||
| 203,588 | (377473) | 132,271 | (41,414) | |||
| Restricted funds | ||||||
| Contingency | Fund | 895 | (4,54$) | 110,747 | 107i094 | |
| TOTAL FUNDS | 204,483 | (3811,,8822 11) | 243,018 | 65,680 | ||
| Comparatives | for movement | in funds | ||||
| Net | ||||||
| movement | At | |||||
| At 1.7.20 | in funds | 30.6.21 | ||||
| Unrestricted | funds | |||||
| Palendria Fund |
758,112 | (35,511) | 722,601 | |||
| Main Fund | 4,662,197 | ~204,647) | 4,457,550 | |||
| 5,420,309 | (240,158) | 5,180,151 | ||||
| Restricted funds |
||||||
| Contingency | Fund | 635,841 | 97,913 | 733,754 | ||
| TOTAL FUNDS | 6,056,150 | ~142,245) | 5,913,905 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources | expended | losses f |
in funds | ||
| Unrestricted | funds | ||||
| Palendria Fund |
7,778 | (6,403) | (36,886) | (35,511) | |
| Main Fund | 62,275 | ~41,635) | (225,287) | ~204 647) | |
| 70,053 | (48,038) | (262,173) | (240,158) | ||
| Restricted funds | |||||
| Contingency | Fund | 130,630 | (4,030) | (28,687) | 97,913 |
| TOTAL FUNDS | 200,683 | (52,068) | (290,860) | (142,245) |
| Unrestricted | Unrestricted | Restncted | 2022 | 2021 | ||
|---|---|---|---|---|---|---|
| Main | Palendriai | Contingency | ||||
| Fund | Fund | Fund | ||||
| 6 | ||||||
| Investments | 2,450,690 | 388,261 | 823,650 | 3,662,601 | 4,345,727 | |
| Current | assets | 2,0071530 | 361,953 | 17,198 | 2,386,681 | 1,601,831 |
| Current | liabilities | (48,331) | (3,292) | (51,623) | (33,653) | |
| Total net assets | 4,391,814 | 746,922 | 840,848 | 5,979,584 | 5,913,905 |
| for the year ended 30Ju | ne 2022 | ||
|---|---|---|---|
| 2022f | 2021 f |
||
| INCOME AND ENDOWMENTS | |||
| Donations and legacies |
|||
| St Benedict ofNursia Foundation (US) |
150,231 | 129,874 | |
| Investment income |
|||
| Income from investments | 53,461 | 70,809 | |
| Deposit account interest | 791 | ||
| 54,252 | 70,809 | ||
| Total incoming resources |
204,483 | 200,683 | |
| EXPENDITURE | |||
| Raising donations and legacies |
|||
| Rathhones management fees |
35,320 | 35,428 | |
| Charitable activities |
|||
| Grants to institutions | 328,274 | (10,737) | |
| Support costs | |||
| Finance | |||
| Bank charges | 203 | 143 | |
| Governance costs |
|||
| Independent examination |
1,000 | 900 | |
| Legal &professional fees |
10,470 | 7,374 | |
| Accountancy fees |
6,554 | 18,960 | |
| 18,024 | 27,234 | ||
| Total resources expended |
381,821 | 52,068 | |
| Net (expenditure)/income | before gains and | ||
| losses | (177,338) | 148,615 | |
| Realised recognised gains |
and losses | ||
| Realised gains/(losses) on fixed asset |
|||
| investments | 10,780 | (9,178) | |
| Foreign exchange gains/(losses) | 186,325 | (148,557) | |
| Net income/(expenditure) | 19,767 | ~9,120) |