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|---|---|---|---|
|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||
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|||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|
##
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||||||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|
##
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||||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|
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||||||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|
##
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##
|||||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)|
##
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||||||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)|