2023-03-31-accounts - St James Priory Project Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

			Page
Report of	the Trustees		1-5
Reference	and Administrative Information
Report of	the Independent	Examiner
Statement	of Financial Activities
Balance Sheet
Statement	of Cash Flows		10
Notes forming part ofthe		Financial Statements	11-18

Trustees and directors:	Trustees and directors:	Trustees and directors:	Trustees and directors:	Lyn Murray (Chair)
				Rev Canon Michael Fitzpatrick
				David Shakesby
				Corinne Fitzpatrick —Appointed		15	August 2023
				Rev Canon Christopher	Whitehead		—Resigned 31
				January 2023
Secretary:				James Banaghan
Project managers:				Susan Jotcham
				James Banaghan
				John Jotcham
Company	number:			04730515
Charity registration			number:	1104408
Date of incorporation:				10April 2003
Date of Charity registration:				17June 2004
Registered		office and
principal address:				StJames Priory
				Whitson Street
				Bristol BS1 3NZ
Independent		Examiner:		Joshua Kingston BSc,	ACA
				Burton Sweet Limited
				Chartered Accountants
				The Clock Tower
				5 Farleigh Court
				Old Weston Road
				Flax Bourton
				Bristol BS481UR
Solicitors:				Edmondson Hall
				25 Exeter Road
				Newmarket
				Suffolk CB88AR
Bankers:				CAF Bank
				25 Kings Hill Avenue
				Kings Hill
				West Mailing
				ME194JQ

				Unrestricted		Total	Total
				General	Restricted	Funds	Funds
			Note	Funds E	Funds E	2023 E	2022f
Income from:
Grants and Donations				45,199	500	45,699	61,715
Charitable activities				115,758		115,758	151,730
Other trading activities				17,352		17,352	7,037
Investments				2,794		2,794	10
Total income				181,103	500	181,603	220,492
Expenditure on:
Raising funds				6,650	9,319	15,969	11,782
Charitable activities				174,330	25,269	199,599	207,039
Total expenditure				180,980	34,588	215,568	218,821
Net income/(expenditure)	and net movement	in
funds				123	(34,088)	(33,965)	1,671
Reconciliation offunds
Total funds at 1 April 2022			15	701,740	4,696,713	5,398,453	5,396,782
Total funds at 31 March	2023		15	701,863	4,662,625	5,364,488	5,398,453

				Note	2023	2022
Fixed assets
Tangible assets				10	4,787,255	4,826,277
Investments				11	3	3
					4,787,258	4,826,280
Current assets
Debtors				12	42,419	48,009
Cash at bank	and	in	hand		545,288	533,495
					587,707	581,504
Creditors: amounts			falling	due
within	one		year	13	(10,477)	(9,331)
Net current assets					577,230	572,173
Total assets	less	current		liabilities	5,364,488	5,398,453
Net assets					5,364,488	5,398,453
Funds
Unrestricted	funds
General funds				16	577,233	572,176
Designated funds				16	124,630	129,564
Restricted funds				16	4,662,625	4,696,713
Total funds					5,364,488	5,398,453
For the year ending			31 March 2023 the company was entitled to exemption		from audit under section 477 ofthe Companies Act	2006 relating to small
corn panies.

								2023	2023	2022
							Notes	f.
Net cash inflow from operating		activities							9,565	43,008
Non-operational cash flows
Investing activities
Purchase offixed assets								(566)
Investment income								2,794		10
									2,228	10
Net cash (oufflow)/inflow for the year									11,793	43,018
NOTES TO THE CASH FLOW STATEMENT									2023	2022
										E
Reconciliation of net movement			in funds to		net cash inflow from operating	activities
Statement of Financial Activities:			Net movement		in funds				(33,965)	1,671
Investment income									(2,794)	(10)
Depreciation									39,588	40,530
(Decrease)/Increase	in creditors:		Current	Liabilities					1,146	1,345
Decrease/(Increase)	in debtors								5,590	(528)
Net cash inflow from operating			activities						9,565	43,008
Analysis ofchanges	in	cash flow during the			year			2023 f.	2022f	Change
Cash at bank and in	hand							545,288	533,495	11,793
								545,288	533,495	11,793
								2022	2021f	Change
Cash at bank and in	hand							533,495	490,477	43,018
								533,495	490,477	43,018

Income fro	m: Gra	nts and Donations
			Unrestricted	Restricted	Total	Funds	Total Funds
			Funds	Funds		2023	2022
			E	E		E	E
Donations			45,199	500		45,699	21,561
Government	grants	received					40,154
			45,199	500		45,699	61,715

Prior year co	mparative
							Unrestricted	Restricted	Total Funds
							Funds	Funds	2022
								E	f
Staff salaries							2,463		2,463
Support costs (see note			6)					9,319	9,319
							2,463	9,319	11,782
Expenditure	on: Charitable			activities
							StJames
						StJames	Priory	Walsingham	Total Funds
						House	Church	House	2023
						E	E	E	E
Staff salaries						21,880	29,796		51,676
Household costs						426	206		632
Rates and utilities						8,105	14,963		23,068
Repairs and maintenance						9,221	10,936		20,157
Liturgical costs							4,492		4,492
Support costs (see below)						7,876	91,698		99,574
						47,508	152,091		199,599
Prior year comparative
							StJames
						StJames	Priory	Walsingham	Total Funds
						House	Church	House	2022
						E	E	E	E
Staff salaries						22,310	65,102		87,412
Household						648	1,784		2,432
Rates and utilities						11,598	7,043		18,641
Repairs and maintenance						5,452	7,011		12,463
Liturgical costs							3,697		3,697
Support costs (see below)						7,002	70,729	4,663	82,394
						47,010	155,366	4,663	207,039
Support costs ofcharitable				activities 8 raising funds
							StJames
					Raising	StJames	Priory	Walsingham	Total Funds
					funds	House	Church	House	2023
						E	E
Support staff	salaries						18,547		18,547
Telephone						1,660	3,873		5,533
Office expenses					504	1,440	3,360		5,304
Insurance							15,320		15,320
Bad debts							7,048		7,048
Advertising					2,270				2,270
Bank charges							67		67
Independent	examiner's		fees				12,842		12,842
Legal and professional		fees					5,148		5,148
Depreciation	of buildings				9,319	4,776	24,769		38,864
Depreciation	ofequipment						724		724
					12,093	7,876	91,698		111,667

Support costs ofchar	Support costs ofchar	itable activities &r	aising funds (continued)
Prior year comparative
					StJames
			Raising	StJames	Priory	Walsingham	Total Funds
			funds	House	Church	House	2022
				E	E		E
Support staff	salaries				26,537		26,537
Telephone				1,117	2,343		3,460
Office expenses				1,109	3,244		4,353
Insurance					14,588		14,588
Bad debts					(7,335)		(7,335)
Bank charges					223		223
Independent	examiner's	fees			1,550		1,550
Legal and professional		fees			3,143	4,663	7,806
Depreciation	of buildings		9,319	4,776	24,769		38,864
Depreciation	ofequipment				1,667		1,667
			9,319	7,002	70,729	4,663	91,713

Net income/(expenditure)
This is stated after charging:
		2023	2022
		E	E
Depreciation		39,588	40,530
Independent examination	fees
- independent examination		1,750	1,550
- under/(over) accrual	in previous years	11,092

The aggre	gate payroll costs were:
					2023	2022
					E	E
Wages and salaries					73,255	110,271
Social security costs					356	4,422
Employers	pension				488	1,719
					74,099	116,412
The average weekly number ofemployees		during the year, calculated	on the basis ofaverage headcount,	was as follows:
					2023	2022
					No.	No.
Charitable	activities				4	4

				Unrestricted		Total
				General	Restricted	Funds
				Funds	Funds	2022
	Income from:
	Donations and legacies			61,715		61,715
	Charitable activities			151,730		151,730
	Other trading activities			7,037		7,037
	Investments			10		10
	Total income			220,492		220,492
	Expenditure on:
	Raising funds			2,463	9,319	11,782
	Charitable activities			182,270	24,769	207,039
	Total expenditure			184,733	34,088	218,821
	Net income/(expenditure)		and	35,759	(34,088)	1,671
	net movement	in funds
	Total funds at	1 April 2021		665,981	4,730,801	5,396,782
	Total funds at	31 March	2022	701,740	4,696,713	5,398,453
10	Tangible fixed	assets
				Freehold	Furniture,
				Land &	fittings &
				Buildings	equipment	Totals
						E
	Cost
	At 1 April 2022			5,658,422	20,589	5,679,011
	Additions				566	566
	Disposals
	At 31 March 2023			5,658,422	21,155	5,679,577
	Depreciation
	At 1 April 2022			832,756	19,978	852,734
	Charge for the year			38,864	724	39,588
	At 31 March 2023			871,620	20,702	892,322
	Net book value
	At 31 March 2023			4,786,802	453	4,787,255
	At 31 March 2022			4,825,666	611	4,826,277

11	Fixed asset investments	Fixed asset investments
											Total	Total
											2023f	2022
	Shares in subsidiary undertaking
	The investment	consists	ofa	100'lo holding			in StJames Chapter House Limited, the charitable	company's	trading	subsidiary.	The
	results for the	subsidiary	are	summarised		below;
											2023	2022
												E
	Profit &Loss	Account
	Turnover
	Cost ofSales
	Gross Profit
	Administrative	Expenses									(301)	(530)
	Other Operating Income
	Operating (Loss)/Profit										(301)	(530)
	Capital &Reserves
	Called up share capital										3	3
	Profit and loss	reserve									(37,960)	(37,659)
											(37,957)	(37,656)
12	Debtors
											Total	Total
											2023	2022
											k	E
	Trade debtors										29,674	33,281
	Amounts due from subsidiary			undertakings							37,957	30,909
	Less: Provision for intercompany				debtor						(37,957)	(30,909)
	VAT debtor											7,314
	Other debtors										12,745	7,414
											42,419	48,009

Creditors: amounts falling due within one year
	Total	Total
	2023	2022f
Trade creditors	1,615	3,628
Other taxation &social security	734	1,938
Other creditors	(40)	(40)
Accruals	3,895	3,805
VAT Liability	4,273
	10,477	9,331

Movement	in funds
Current year
		At				At
		1 April				31 March
		2022	Income	Expenditure	Transfers	2023
Restricted	Funds
Capital Fund		4,696,713		(34,088)		4,662,625
Repairs and	maintenance		500	(500)
		4,696,713	500	(34,588)		4,662,625
Unrestricted	Funds
Designated	Funds
Net BookValue of Fixed Assets		129,564		(5,500)	566	124,630
General Funds
General Fund		572,176	181,103	(175,480)	(566)	577,233
Unrestricted	Funds Subtotal	701,740	181,103	(180,980)		701,863
Total Funds		5,398,453	181,603	(215,568)		5,364,488
Prior year
		At				At
		1 April				31 March
		2021	Income	Expenditure	Transfers	2022
		F		F.		F
Restricted	Funds
Capital Fund		4,730,801		(34,088)		4,696,713
		4,730,801		(34,088)		4,696,713
Unrestricted	Funds
Designated	Funds
Net BookValue of Fixed Assets		136,006		(6,442)		129,564
General Funds
General Fund		529,975	220,492	(178,291)		572,176
Unrestricted	Funds Subtotal	665,981	220,492	(184,733)		701,740
Total funds		5,396,782	220,492	(218,821)		5,398,453

Analysis ofnet assets between funds
Current Year		Unrestricted	funds
	Restricted	Designated	General	2023
	funds	funds	funds	Total
	E	E	E	E
Tangible fixed assets	4,662,625	124,630		4,787,255
Investments			3	3
Cash at bank and in hand			545,288	545,288
Other current assets			31,942	31,942
	4,662,625	124,630	577,233	5,364,488
Prior Year		Unrestricted	funds
	Restricted	Designated	General	2022
	funds	funds	funds	Total
	E	E
Tangible fixed assets	4,696,713	129,564		4,826,277
Investments			3	3
Cash at bank and in hand			533,495	533,495
Other current assets			38,678	38,678
	4,696,713	129,564	572,176	5,398,453