| Trustees | All the Trustees are members | All the Trustees are members | All the Trustees are members | ofthe | Institute ofthe Blessed Virgin Mary | ||
|---|---|---|---|---|---|---|---|
| Sister Noelle Corscadden | |||||||
| Sister Igora Pinto | |||||||
| Sister Judith Nekesa | |||||||
| Sister Macarena | Fernandez | de Bobadilla Lassaletta | |||||
| Sister Brenda Eagan | |||||||
| Sister Bemadette | Boland | ||||||
| Sister Pabicia Grant | |||||||
| Sister Ita Moynihan | |||||||
| Sister Geraldine | McAleer | ||||||
| Sister Linda Charles | |||||||
| Company | registered | ||||||
| number | 3914049 | ||||||
| Charity regkrtered | |||||||
| number | 1080521 | ||||||
| Registered | office | Loreto Province Offices | |||||
| 28 Hartley Road | |||||||
| Altrin cham | |||||||
| England | |||||||
| WA 144AY | |||||||
| Company | secretary | Sister Geraldine | McAleer | ||||
| Independent | auditor | RBKBusiness Advisers | |||||
| Chartered Accountants |
and Statutory | Audit Firm | |||||
| Park View House | |||||||
| Beech Hill Offtce | Campus | ||||||
| Beech Hill Road | |||||||
| Clonskeagh | |||||||
| Dublin 4 | |||||||
| Bankers | Allied Irish Bank |
||||||
| Business Direct | |||||||
| PO Box73306 | |||||||
| London | |||||||
| United Kingdom | |||||||
| W5 9PB | |||||||
| First Trust Bank | |||||||
| 8 High Slreet | |||||||
| Omagh | |||||||
| Co.Tyrone | |||||||
| United Kingdom |
|||||||
| BT781BH | |||||||
| Allied Irish Bank | |||||||
| 7/12 Dame Street | |||||||
| Dublin 2 | |||||||
| Ireland |
| REFERENCE AND ADMINISTRATIVE DETAILS (CONTINUED) | REFERENCE AND ADMINISTRATIVE DETAILS (CONTINUED) | REFERENCE AND ADMINISTRATIVE DETAILS (CONTINUED) | ||
|---|---|---|---|---|
| Solicitors | Stone King | |||
| 13Queen Square | ||||
| Bath | ||||
| United Kingdom | ||||
| BA1 2HJ | ||||
| Investment | Managers | Setsnta Asset Management | ||
| Bemsford Court | ||||
| Bares(ord Place | ||||
| Dublin 1 | ||||
| Ireland | ||||
| Invesbnent | Advisors | Cantor Fitzgerald | Ireland | Limited |
| 75St.Stephen's | Green | |||
| Dublin 2 | ||||
| Ireland | ||||
| Financial Advisors | L&PTrustee Services Limited | |||
| 75St.Stephen's | Green | |||
| Dublin 2 | ||||
| Irehnd |
| Unrestricted | |||||||
|---|---|---|---|---|---|---|---|
| Unrestricted funds |
Restricted funds |
development funds |
Total funds |
Total funds |
|||
| Note | 2020 | 2020 6 |
2020 | 2020e | 2019 | ||
| Income and | |||||||
| endowments from: |
|||||||
| Project contributions | 6477 | 6,577 | 9,435 | ||||
| Investment income |
1$,983 | 2 | 19,966 | f5,340 | |||
| Other income | 21,719 | 21,719 | 51,4'l8 | ||||
| Total income | 19,983 | 21,719 | 6,579 | 48,281 | 77,193 | ||
| Expenditure on: |
|||||||
| Charitable activities |
18&,828 | 44,780 | 6,631 | 237,039 | 437,088 | ||
| Raising funds | 45,352 | 45,352 | 45,570 | ||||
| Total expenditure | 230,980 | 44,780 | 6,631 | 292,391 | 483,258 | ||
| Net (losses)/gains | on | ||||||
| investments | (267,701) | (267,701) | 2,079,837 | ||||
| Net (expenditure) | I | ||||||
| income before other | |||||||
| recognised gains losses |
and | (478,898) | (23,061) | (52) | (501,811) | 1,573,772 | |
| Other recognised | |||||||
| (losses)/gains | |||||||
| Foreign currency | |||||||
| gains/(losses) | 887,174 | 223 | 887,3$7 | (515,218) | |||
| Net movement in funds |
408,476 | (23,061) | 171 | 385,586 | 858,554 | ||
| Reconciliation of | |||||||
| funds: | |||||||
| Total funds at 1 | |||||||
| January2020 | 15,165,107 | 28,214 | 7,241 | 15,198,562 | 14,34a,OOS | ||
| Totalfunds at 31 December 2020 |
16,673,583 | 3,153 | 7,412 | 15,584,148 | 15,198,552 |
| STATENIENT OF CASH FLOWS | |||
|---|---|---|---|
| FOR THE YEAR ENDED 31DECEMBER | 2020 | ||
| 2020 | 2019 | ||
| Note | 6 | ||
| Cash flows from operating activities |
|||
| Net cash used in operaling activities |
16 | (253,898) | (422,205) |
| Cash flows from investing actlvtlles |
|||
| Dividends, interests and rents from investments |
19,986 | 16,340 | |
| Proceeds from sale ofinvestments | 830,519 | 172,238 | |
| Net cash provided by Investing activities |
850,504 | 188,578 | |
| Cash ffows from financing activities |
|||
| Net cash provided by ffnanclng activities |
|||
| Change in cash and cash equivalents in the year |
596,SSS | (233,627) | |
| Cash and cash equivalents atthe beginning ofthe year |
17 | 487,916 | 721,643 |
| Change in cash and cash equivalents due to exchange rate movements |
'I5,622 | ||
| Cash and cash equivalents atthe end ofthe year |
17 | 'I,100,144 | 487,916 |
| Unrestricted | ||||
|---|---|---|---|---|
| development | Total | Total | ||
| funds | funds | funds | ||
| 2020 | 2020 | 2019 | ||
| 8 | 8 | |||
| Kangemi, Nairobi - Kenya |
1,076 | 1,078 | 1,137 | |
| Elliott Rd, Kolkata, India | 100 | |||
| Entally, Kolkats, India | 1.050 | 1,0&0 | 1,050 | |
| Sealdah, Kolkata, India |
750 | 750 | 750 | |
| India Projects - South Asia -General | 2,000 | 2,000 | 1,500 | |
| Peru Projects - General | ||||
| Peru Projects - Jimcamsrcs FeYAlegrea | 118 | 118 | ||
| Irish Project - Rumbek South Sudan | 1,285 | 1,285 | ||
| Community ofSouthern |
Africa —Zambia | 300 | 300 | |
| Other General Donations | 3,174 | |||
| Total income from project contributions | B,577 | 6,677 | 9,435 |
| Reslricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | |||||
| 2020 8 |
2020f | 2019 | |||||
| Mary | Ward | Mission | Fund | income | 21,719 | 21,719 | 51,418 |
| Total | 2019 | 51,418 | 51,418 |
| Unrestricted | |||||
|---|---|---|---|---|---|
| Unrestricted funds |
Restricted funds |
development funds |
Total funds |
Total funds |
|
| 2020 6 |
2020 7 |
2020 | 2020 6 |
2019 5 |
|
| Support for international | |||||
| provinces (see note 5.1) | 181,690 | 181,690 | 355,563 | ||
| Mary Ward Mission Fund | 44,780 | 44,780 | 68,090 | ||
| Support for the international | |||||
| projects (see note 5.2) Governance cosh (see note |
6,631 | 6,631 | 9,469 | ||
| 5.3) | 3,938 | 3,838 | |||
| 185,628 | 44,780 | 6,631 | 237,039 | 437,088 | |
| Tofal2019 | 359,529 | 68090 | 9,469 | 437,088 |
| 2020 | 2019 | ||
|---|---|---|---|
| 5 | 5 | ||
| South Asia -Kolkats South Asia - Bangladesh |
18,126 10/10 |
23,000 157,737 |
|
| South Asia - Nepal Eastern Africa Peru South Africa - Zambia |
4,796 82,823 48,105 7,153 |
9,728 111,817 52,973 |
|
| Administration Expenses |
277 | 310 | |
| Total | 181,690 | 355,553 | |
| All amounts above were in relation to unrestdcted | costs. |
| 5.2Support for Interna | tional projects (Unrestricted devel |
opment funda) |
|
|---|---|---|---|
| 2020 | 2019 | ||
| Kangemi, Nairobi - Kenya |
1,076 | 1,137 | |
| Elliott Rd, Kolkata, India |
100 | ||
| Entally, Kolkata, India South Asia Projects -General |
1,050 2,750 |
1,050 2,250 |
|
| Peru - General | 116 | ||
| Community ofSouthern |
Africa - Zambia | 300 | |
| Other General Donations Rumbek Soulh Sudan |
1,285 | 3,178 1,724 |
|
| Administration Expenses |
54 | 30 | |
| 6,631 | 9,409 |
| Balance at 1 | Balance at 31 |
||||
|---|---|---|---|---|---|
| Unrestricted funds |
January 2020 8 |
Income K |
Expenditure 6 |
Gains/ (Losses) |
December 2020f |
| Inveslmsnt Fund |
16,165,107 | 232 | (2$0,880) | 6S9,224 | 16,673,583 |
| Endowment funds |
|||||
| Development Fund |
7,241 | 5,879 | (8,831) | 223 | 7,412 |
| Restricted funds | |||||
| Mary Ward Mission Fund | 26,214 | 21,719 | (44,780) | $,153 | |
| Total offunds | 16,188482 | 28,530 | (282,$81) | 639,447 | 15,584,148 |
| Statement offunds -prior year | |||||
| Balance at | Balance et 31 |
||||
| Unrestricted funds |
1January 2019f |
!ncome | Expenditure 5 |
Gcdner (Losses) |
December 2019f |
| Investment fund |
14,289,536 | 15,338 | (405,699) | 1,264,832 | 15,155,107 |
| Unmstrlcted funds |
|||||
| Development fund |
7,436 | 9,437 | (9,469) | (213) | 7,241 |
| Restricted funds | |||||
| Mary Ward Mission Fund | 42,886 | 51,418 | (55,090) | 26,214 | |
| Totaloffunds | 14,340,008 | 77,193 | (483,258) | 1,264,619 | 15,198,562 |
| Unrestricted | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | development | Total | |
| funds | funds | funds | funds | |
| 2020 | 2020 | 2020 | 2020 | |
| 8 | 8 | 8 | ||
| Fixed asset investments | 14,492,251 | 14+92,251 | ||
| Current assets | 1.094,530 | 3,153 | 7,412 | 1,105,08S |
| Creditors due within one year | (13,198) | (13,1S8) | ||
| Total | 15,573,583 | 3,153 | 7,412 | 1S,SS4,148 |
| Analysis ofnet assets between fund | s -prior period | |||
|---|---|---|---|---|
| Resetcted | Unrestricted | |||
| Unrestricted | Mary Want | development | Total | |
| funds | Mission Fund | funds | funds | |
| 2019f | 2019 | 2019 | 2019f | |
| Fixed asset investments | 14,718,694 | 14,718,694 | ||
| Current assets | 459,414 | 26,214 | 7,240 | 492,868 |
| Creditors due within one year | (13,000) | (13,000) | ||
| Total | 15,165,108 | 26,214 | 7,240 | 15,198,562 |