2021-12-31-accounts - Society Of The Sacred Mission

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		Page	Page
Report ofthe Trustees	1	to	5
Report ofthe Independent Auditors	6	to	8
Statement ofFinancial Activities
Balance Sheet		10
Cash Flow Statement
Notes to the Cash Flow Statement		12
Notes to the Financial Statements	13	to	26

					2021	2020
			Unrestricted	Restricted	Total	Total
		Notes	funds I	funds 6	funds	funds
INCOME AND ENDOWMENTS FROM
Donations and legacies		3	105,381	1,781,446	1,886,827	92,435
Charitable activities		5
Income I'rom charitable	activities		13,398		13,398	18,587
Investment income		4	210,796	102,929	313,725	336,029
Other income		6	9177		9 177	8 822
Total			338,752	1,884,375	2,223,127	455,873
EXPENDITURE ON
Raising funds			18,382	23,219	41,601	49,542
Charitable activities
Grant funding ofactivities			23,404	59,290	82,694	79,590
Supportcosts			20,708		20,708	42,273
Activities undertaken directly			443,668		443,668	422,791
Governance costs			11,489		11,489	6,219
Total			517,651	82,509	600,160	600,415
Net gains/(losses) on investments			564 140	544,110	1108250	~474333
NET INCOME/(EXPENDITURE)			385,241	2,345,976	2,731,217	(618,875)
RECONCILIATION OFFUNDS
Total funds brought forward			9,667,162	3,430,275	13,097,437	13,716,312
TOTAL FUNDS CARRIED FORWARD			10052,4D3	5 776251	15828 654	13,D97437

	BALANCE SHEET
	31DECEMBER2021
		2021	2020
	Notes	f.
FIXEDASSETS
Tangible assets	15	1,341,176	1,416,308
Investments
Investments	16	11,435,996	8,356,455
Investment property	17	2 90D DD2	3,025 002
		15,677,174	12,797,765
CURRENT ASSETS
Debtors	18	48,065	22,614
Cash at bank and in hand		156,210	330,212
		204 275	352 826
CREDITORS
Amounts falling due within one year	19	(50,795)	(49,154)
NET CURRENT ASSETS		153480	303 672
TOTAL ASSETSLESSCURRENT
LIABILITIES		15,830,654	13,101,437
PENSION LIABILITY	22	(2,000)	(4,000)
NET ASSETS		158211654	131197437
FUNDS	21
Unrestricted funds		10,052,403	9,667,162
Restricted funds		5776251	3430275
TOTAL FUNDS		15828654	13097437

	FO	R	THE YEAREND	ED 31DECEMBER 2021
				2021	2020
			Notes	E
Cash flows from operating activities
Cash generated from operations				219553	487839
Net cash used in operating	activities			219553	~487839)
Cash flows from investing	activities
Purchase oftangible fixed assets Purchase offixed asset investments Saleoftangible fixed assets Saleoffixed asset investments				(680) (1,716,321) 1,523,850	(170,657) (5,175,481) 20,400 4,884,745
Dividend income				238,623	275,326
Interest received				79	356
Net cash provided by/(used	in) investing		activities	~45551	~163311
Cash flows from financing	activities
Capital repayments in year					10662
Net cash provided by/(used	in) financing		activities		10662
Change in cash and cash equivalents		in
the reporting period				(174,002)	(663,812)
Cash and cash equivalents	at the
beginning ofthe reporting	period			~330212	~994024
Cash and cash equivalents	at the end	of
the reporting period				~156210	~330 212

RECONCILIATION OFNET INCOME/( OPERATING ACTIVITIES	EXPENDITURE) TONE	T CASH FLOW FRO	M
		2021	2020
		f.
Net income/(expenditure) for the reporting	period (asper the
Statement ofFinancial Activities)		2,731,217	(618,875)
Adjustments for:
Depreciation charges		75,812	67,091
(Gain)/losses on investments		(1,108,250)	474,333
Profit on disposal offixed assets			(3,845)
Interest received		(79)	(356)
Dividends and rents received		(238,623)	(275,326)
Movement in SSM(SA)investments			(91,861)
Transfer ofSSM(SA) donation		(1,653,820)
Increase in debtors		(25,451)	(12,243)
Increase/(decrease) in creditors Difference between pension charge and cash	contributions	1,641 ~2000	(24,757) ~2000
Net cash used in operations		~219553)	~487839)

	At 1.1.21	Cash flow	At 31.12.21
Net cash
Cash at bank and in hand	330212	~174002	156210
	~330212	~174,002	~156210
Total	~330212	~174002	~156210

				Grant
				funding of
			Direct	activities	Support
			Costs (see	(seenote	costs (see
			note 8)	9)	note 10)	Totals
	Grant funding ofactivities			82,694		82,694
	Support costs				20,708	20,708
	Activities undertaken	directly	443,668			443,668
	Governance costs				~11489	11,489
			~443 668	~82 694	~32 197	~558 559
8.	DIRECT COSTSOF	CHARITABLE	ACTIVITIES
						2020
					2021
						f
	Staffcosts				117,953	135,211
	Depreciation				75,812	67,091
	Community costs				232,607	210,491
	Travel and transport				465	1,238
	Furniture and equipment				9,223	1,254
	Publicity				748	346
	Administration				6,860	11,005
	Profit on disposal offixed assets					~3845
					443 668	422 791
9.	GRANTS PAYABLE
					2021f	2020
	Grant funding ofactivities				~82 694	~79 590
10.	SUPPORT COSTS
						2020
					2021	f
	Trustees' expenses				1,309	2,067
	Bank charges				762	745
	Auditor's remuneration				11,489	6,219
	Legal and professional Accountancy and payroll				9,213 ~9424	34,276 ~5185
					~32 197	~48 492

				2020
			2021
				f
Wages and salaries			105,801	124,887
Social security Contributions	costs to defined contribution	pension schemes	2,784 ~9368	2,490 ~7834
			117,953	135,211

			2021	2020
Employees			7	7
No employees	received emoluments	in excess off60,000.

	NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEARENDED 31DECEMBER2021	NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEARENDED 31DECEMBER2021	NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEARENDED 31DECEMBER2021
14.	COMPARATIVES FOR THE STATEMENT OFFINANCIAL ACTIVITIES
		Unrestricted	Restricted	Total
		funds	funds f	funds
	INCOME AND ENDOWMENTS FROM
	Donations and legacies	92,435		92,435
	Charitable activities
	Income fmm charitable activities	18,587		18,587
	Investment income	236,189	99,840	336,029
	Other income	8 822		8 822
	Total	356,033	99,840	455,873
	EXPENDITURE ON
	Raising funds	36,769	12,773	49,542
	Charitable activities
	Count funding ofactivities	30,200	49,390	79,590
	Support costs	42,273		42,273
	Activities undertaken directly	422,791		422,791
	Governance costs	6,219		6,219
	Total	538,252	62,163	600,415
	Net gains/(tosses) on investments	~303,082	~373231	~474333
	NET INCOME/(EXPENDITURE)	(485,301)	(133,574)	(618,875)
	RECONCILIATION OFFUNDS
	Total funds brought forward	10,152,463	3,563,849	13,716,312
	TOTAL FUNDS CARRIED FORWARD	9667 162	3,430.273	13097437

TANGIBLE FIXEDASSETS
	Freehold	Building	Equipment
	property	improvements	&furnishings I	Totals
COST
At 1 January 2021	1,131,173	511,405	21,223	1,663,801
Additions			680	680
At 31December 2021	~1,131173	~511405	21,903	~1664481
DEPRECIATION
At 1 January 2021 Charge for year	177,990 ~20357	64,524 ~51141	4,979 ~4314	247,493 ~75 812
At 31December 2021	~198347	115,665	~9293	~323 305
NET BOOKVALUE At 31December 2021	932,826	~395 740	~12610	~1341176
At 31December 2020	~953 183	~446 881	~16244	~1416308

				Listedinves
				tments
				6
MARKET VALUE
At 1 January 2021				8,356,455
Held for SSM(SA) as at		1 January 2021		1653820
				10,010,275
Additions				1,716,321
Disposals				(1,498,888)
Revaluations				1208,288
At 31December	2021			11435996
NET BOOKVALUE
At 31December	2021			11435 996
At 31December	2020			8,356,455
Held for SSM(SA) at 31		December 2020		1653 820
				10,010275
There were no investment		assets outside ofthe UK.
Cost or valuation	at 31December 2021 is represented		by:
				investments
				8
Valuation in 2021				11.435 996

Pa8e 20 ¢ontinuul...

DEBTORS:	AMOUNTS FALLING DUE WITHIN ONE YEAR
		2021	2020
		f.
Trade debtors		31,500	13,500
Prepayments	and accrued income	~16565	~9114
		48,065	~22 614
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2021	2020
		f.
Trade creditors		2,086	8,091
Social security	and other taxes	1,713	1,304
Other creditors		190	91
Accruals and deferred income		~46 806	~39668
		~50 795	~49 154

ANALYSIS OFNET ASSET	SBETWEEN FUNDS
			2021	2020
	Unrestricted	Restricted	Total	Total
	funds	fundsf	funds f	fundsf
Fixed assets	1,341,176		1,341,176	1,416,308
Investments	8,559,747	5,776,251	14,335,998	11,381,457
Current assets Current liabilities Pension liability	204,275 (50,795) ~2000)		204,275 (50,795) ~2000	352,826 (49,154) ~4.0003
	10052403	577625I	I5 828654	33097437

MOVE	MENT IN FUNDS
			Net
			movement	At
		At 1.1.21	in funds	31.12.21
				f
Unrestricted funds
General fund Care ofthe elderly		7,667,162 2000000	385,241	8,052,403 2000 000
Restricted funds		9,667,162	385,241	10,052,403
Kelham	College fund	3,408,196	493,974	3,902,170
Durham Southern	fund Africa fund	22,079	(3,473) 1,855475	18,606 11155475
		3430275	2345976	5776251
TOTAL	FUNDS	13097437	2731217	15 828 654

		Incoming	Resources		Gains and	Movement
		resources f	expended		losses	in funds
Unrestricted funds
General fund		338,752	(517,651)		564,140	385,241
Restricted funds
Kelham College fund		91,753	(63,843)		466,064	493,974
Durham fund Southern Ahica fund		~1792622	(3,473) ~15193		78 046	(3,473) ~1855,475
		1 884375	~82509		544 110	2345976
TOTAL FUNDS		2 223 127	~600 160		I 108250	2 731217
Comparatives for movement	in funds
			Net		Transfers
			movement		between	At
		At 1.1.20 f	in funds f		funds	31.12.20
Unrestricted funds
General fund Care ofthe elderly		6,152,463 4000000	(485,301)	2,000,000 ~2000 000		7,667,162 2000000
Restricted funds		10,152,463	(485,301)			9,667,162
Kelham College fund		3,541,770	(133,574)			3,408,196
Durham fund		22 079				22 079
		3 563 849	~133574			3 430275
TOTAL FUNDS		13 716312	~618.875			13097437

	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
	f.
Unrestricted funds
General fund	356,033	(538,252)	(303,082)	(485,301)
Restricted funds
Kelham College fund	99,840	(62,163)	(171,251)	(133,574)
TOTAL FUNDS	~455 873	~600415)	~474333	~618875)

			Net	Transfers
			movement	between	At
		At 1.1.20	in funds	funds	31.12.21
			6	6
Unrestricted funds
General fund Care ofthe elderly		6,152,463 4000000	(100,060)	2,000,000 ~2000 0003	8,052,403 2000 000
		10,152,463	(100,060)		10,052,403
Restricted funds
Kelham	College fund	3,541,770	360,400		3,902,170
Durham	fund	22,079	(3,473)		18,606
Southern	Africa fund		1,855475		1855475
		3563849	2212402		5 776251
TOTAL	FUNDS	13.716 312	2 112342		15828 654

		Incoming	Resources	Gains and	Movement
		resources f.	expended	losses	in funds f
Unrestricted funds
General	fund	694,785	(1,055,903)	261,058	(100,060)
Restricted funds
Kelham	College fund	191,593	(126,006)	294,813	360,400
Durham Southern	fund Africa fund	1,792,622	(3,473) ~15193)	78,046	(3,473) ~1,855475
		~1984215	~344 672	372 850	2212,402
TOTAL	FUNDS	2679,000	~1,200575)	633917	2,112342

Section 28.11A of FRS102 requires	Section 28.11A of FRS102 requires	agreed	deficit recovery	payments	to be recognised	as a liability. The
movement in the balance	sheet liability	over 2020 and over	2021 is set out		in the table below.
					2021	2020
Balance sheet liability at	1 January				4,000	6,000
Deficit contributions paid					(2,000)	(3,000)
Interest cost (recognised	in SoFA)
Remaining change tothe	balance sheet	liability*(recognised	in	SoFA)		1,000
Balance sheet liability at	31December				2,000	4,000

		December 2021	December 2020	December 2019
Discount rate		0.0'/o	0.2'/v pa	1.1'io pa
Price inflation Increase to total pensionable	payroll	n/a'/o -1.5'/o	3.1/o pa 1.6~/o pa	2.8~/o pa 1.3copa

Financial	assets									2021 f.	2020 f
Financial	assets	measured	at	fair	value	through	income	and	expenditure	14335998	11381457
										14335998	11381457