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2020-12-31-accounts

DEPAUL INTERNATIONAL

TRUSTEES' REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

2020

COMPANY NUMBER: 5245818 CHARITY NUMBER: 1107385

Content

Statement of the Chair and Group Chief Executive 1
Trustees'report(incorporating the Group Strategic Report) 2
Independent auditor's report 25
Consolidated statement of financial activities 30
Consolidated balance sheet 31
Charity balance sheet 32
Consolidated statement of cash flows 33
Notes to the financial statements 34
Reference and administrative details of the charity, 66
its trustees and advisers

Statement of the Chair and Group Chief Executive

In March of 2020, the world changed for us all. What quickly became apparent, however, was that the incoming crisis of - Covid 19 would disproportionately impact the most vulnerable among us. In the last year, the subsidiaries and partners of Depaul International have responded with speed and innovation to not only ensure the homeless communities across the world were safe and cared for but that the pandemic did not halt their journey away from the streets and that they could continue to build bright futures.

From the establishment of feeding stations in Ukraine, medical outreach in Croatia, the management of converted hotels for street homeless people in the UK and Ireland, quarantine facilities for those infected by - Covid 19 in Slovakia and outdoor day centres in France and the USA. Every single subsidiary in the Depaul family has adapted to local needs and, especially, to support those who have fallen through existing safety nets.

Our partnerships with the Institute of Global Homelessness (IGH) and Famvin Homeless Alliance (FHA) also allowed the Depaul Group to demonstrate a truly global reach in relation to systemic change and practical solutions for some of the world’s most vulnerable homeless people.

The IGH led a debate at the UN in February - 2020 that saw the first ever formal resolution on street homelessness and a call for a clear global definition and measurement of the problem, as well as an appeal for ambitious strategies to tackle the issue.

In the last two years, the FHA has managed to house 6000 people in over 40 countries as part of its “13 Houses Campaign” – including Covid-19 responses - and is well on its way to reaching its target of 10,000 housed across every continent.

Thank you to all of our supporters for making this work possible – your generosity and support at this time has been greatly appreciated. However, our special thanks go to all our staff and volunteers. This has been a year to remember, both because of the pain and loss so many have endured but also for the heroic work of those who operate on the front line of our services. People have given selflessly, and for that, we all owe a deep debt of gratitude.

As the beginning of the end of the pandemic comes into sight, we are faced with task of making sure everyone benefits from the recovery and we leave nobody behind. At Depaul we have a new strategic plan to build back stronger and better. If - society can bring Covid 19 under control, surely it is also possible for us to think about how we might end homelessness and the systems that contribute to it.

John C Darley Mark McGreevy OBE Chair Group Chief Executive Officer

01

Trustees' Report

(incorporating the Group Strategic Report)

The Trustees of Depaul International (who are also directors of the charity for the purposes of the Companies Act) are pleased to present their Annual Report, including the Directors’ Report and the Strategic Report, together with the audited Consolidated Financial Statements of Depaul International (the charity) and the consolidated statements of the Depaul Group for the year ended 31 December 2020 which are also prepared to meet the requirements for a Directors’ Report and accounts for Companies Act purposes.

Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Annual Report and Financial Statements of the charity and the Group comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and

02

Trustees' Report

Our vision, mission and values

Depaul works to support homeless and marginalised people around the world. The Group currently works in the UK, Ireland, Slovakia, Ukraine, the USA, France and Croatia.

Our Mission

We aim to end homelessness and change the lives of those affected by it.

Our Vision

Our vision is of a society in which everyone, across the world, has a place to call home and a stake in their community.

Our Values

We celebrate the potential in people : We work

collaboratively in a way which empowers people. We treat service users with respect. We consult and listen. And we invest in our staff and volunteers.

We put words into action: We do what we say we will do.

We are committed to innovation and to finding new ways to tackle the problems we encounter. We are taking risks in working with marginalised groups and people with challenging behaviour.

We take a wider role in civil society: We work in

partnership with government, local authorities, the private sector, churches and other voluntary agencies to achieve the best outcomes for our service users. We are open and accountable to our staff, to our volunteers, to our service users, and to our funders. We influence structural change in society, taking a global perspective. We strive for best practice and use our resources effectively.

We believe in rights and responsibilities: We uphold and safeguard people’s rights. We recognise responsibilities and apply this equally to the organisation, service users, staff, and volunteers.

03

Trustees' Report

Our business model and strategies for achieving objectives

We operate through our seven local subsidiaries, full details of which are set - out at Note 33, which deliver mission advancing activities in their respective countries. In 2020, Depaul International continued to work within its Strategic - Framework for the period 2018 2020 and started work to develop a new framework for the next strategic period. It builds on the progress made during the last cycle and continues to focus on four key Strategic Goals:

The model which underpins the growth of the Depaul Group continues to prove robust. The Depaul Group’s reputation is founded on strong values (derived from Vincentian traditions) vested in a professional approach to the care of the homeless. High calibre paid professional staff are complemented by dedicated volunteers. Access to both statutory and fundraised income (depending on local circumstances) remains a key strength, as do the excellent working relationships with other members of the Vincentian Family. These fundamentals provide confidence as to the sustainability of the Depaul Group for the future. The history of the Depaul Group, its relationship with the Vincentian Family and its values are explained more fully on page 13.

Depaul Slovakia - Diana’s story

04

Trustees' Report

Our principal activities and achievements

How our activities deliver public benefit

The Trustees have considered the Charity Commission’s guidance which sets out the requirements for charities to demonstrate that their aims and activities are for public benefit . This report highlights examples of the Depaul Group’s activities across the world which illustrate how our work fulfills its mission and the significant benefits it brings to a wide range of people; which includes anyone who is assessed as needing them, within the limits of our resources. The people who are our clients are at the heart of everything we do in line with our values described above.

The Trustees’ are satisfied that all key decisions taken in 2020 have considered - the long term impact of such decision and the impact on Depaul International’s donors, implementing partners, employees and the communities that we work in and with. Depaul International takes great care to ensure its activities are implemented in a collaborative manner and will deliver - impactful change in the long term.

Who used and benefited from our services?

The Depaul Group delivers services for homeless people and those at risk of homelessness in the UK, Ireland, Slovakia, Ukraine, the USA, France and Croatia.

incredibly vulnerable position as restrictions across countries asked people to stay at home – an impossibility for people on the streets. Additionally, many lost their meagre sources of income or other ways to sustain themselves as begging became futile, food donations - from passers by dried up, and even many support services such as day centres closed their doors.

During these challenging times, the Depaul Group came together to ensure that people who are homeless and - destitute would be kept safe from Covid 19; and that they continued to have access to vital support services. As a homeless organisation, we focus on providing accommodation and resettlement to

those that have no place to call home. In 2020, we made over 630,000 bed nights available (2019: 585,000) and rapidly adjusted our provision to support responses to the pandemic.

Across Depaul, we have a history of quickly responding to the changing needs of our client groups; however, in 2020 this agility was put to a test with the onset of the - Covid 19 pandemic. People who are homeless found themselves in an

The team of Depaul USA managed to open a new Dax Programme for up to 24 housing insecure students in Philadelphia at the height of the pandemic and developed new affordable housing units in Little Rock (Arkansas).

05

Trustees' Report

Our principal activities and achievements

Depaul Ireland were instrumental in the establishment and delivery of 230 shielding beds for the most vulnerable clients and also opened a new abstinencebased accommodation service “Birch Haven” for families and parents leaving residential drug treatment programmes.

Depaul Slovakia provided shelter to Bratislava’s homeless community. This was a challenge in the large, shared space they had available; however, the team and clients worked together to create a safe environment for everyone. When they did - have a Covid 19 outbreak in the beginning of 2021, the team collaborated closely with the government to develop an isolation zone and all staff and volunteers worked relentlessly to master this difficult time. Additionally, the team established its pilot

Housing First project and 3 apartments are now available for clients to take their next steps towards independent living.

Accommodation projects constitute a large part of our work in many countries; however, Depaul also operates through flexible outreach services and in the community to ensure that the most basic needs of homeless people are being met through the provision of meals, medical first aid and other supports. In 2020, these services were crucial to ensure people who are homeless and destitute could get help even though public life came to a standstill.

Depaul subsidiaries in Croatia, Slovakia and Ukraine all increased their outreach provision and emergency response day

06

Trustees' Report

Our principal activities and achievements

centre services and provided clients not only with meals, but also with Personal Protective Equipment and any hygiene products that could help reduce the risk of - contracting Covid 19. As a result, the number of total visits to these services increased to over 68,000 – up from 53,800 in 2019.

but also to partner organisations so as many people as possible could be kept safe.

As a Group, we also acknowledge that our work with and for people who are homeless need to be holistic and requires us to engage across other areas , too.

Across the Group, day centre services faced restrictions to their operations due to lockdowns and social distancing requirements. In true Vincentian fashion, the teams tried to find creative ways to remain open for their clients whilst following government guidelines.

Depaul France’s team quickly turned their outside space into a Café Terrasse, enabling over 5,000 visits over the course of the year and ensuring that entrenched rough sleepers could still access showers throughout the pandemic. They also purchased phones for their clients so they could stay in touch with them and provide support during times of lockdown. Depaul USAs and Depaul Croatia’s day centre services similarly adjusted to the new reality and provided take-away meals for the homeless community throughout the year.

In Ukraine, for example, the innovative prisons pathway now bears fruits with Depaul being considered as an expert in - providing services for ex offenders at risk of homelessness. Depaul Ukraine is now an official partner in the reform of the criminal justice system and is working closely with the government to improve services for this vulnerable group of people.

Depaul Ireland is increasing its focus on helping refugees and asylum seekers find long-term accommodation – ensuring that they are well supported and will not become homeless at the end of their already arduous journey. Their innovative - volunteer led Community Befriending programme facilitated over 300 one-toone sessions in 2020 to connect recently settled refugees with members of their new community. In Depaul UK, the team will be keen to pick up on their work in schools again once government guidance allows it. This work seeks to educate young people about homelessness so it can be prevented – an important piece of the puzzle when wanting to end homelessness.

Across all areas, the Depaul Group helped over 23,500 people in 2020 and prevented hunger and malnutrition by providing over 760,000 meals to men, women and

07

Trustees' Report

Our principal activities and achievements

children across our varied services. The reduction in people helped from the previous year (2019: 28,000) is due to - restrictions to services due to Covid 19; however, what we saw is that all across the Group people came together to help some of the most vulnerable people in our communities.

Our frontline teams went above and beyond to care for people; fundraising and finance staff put on protective gear and took on shifts in accommodation projects; funders and supporters called and offered their assistance; and clients helped in projects and did all they could to keep our staff safe. It was an extraordinary effort by everybody involved and we are incredibly proud to have seen Vincentian Values being put so visibly into action.

Over the past year, the Depaul Group also continued to work closely with its partner initiatives. The advocacy efforts of the Ruff Institute of Global Homelessness (IGH) led to the first ever UN resolution defining global homelessness; a watershed moment elevating homelessness within the UN ecosystem. The team also

launched the Better Data Project, which maps all of the data available on global homelessness. The project aspires to improve understanding of the data and spotlight issues in data quality and definition. They also started their Community of Impact webinar series, which facilitates knowledge sharing on homelessness prevention strategies from panelists around the world.

The Famvin Homeless Alliance (FHA) reached the halfway milestone in their goal to transform the lives of 10,000 homeless people; at the end of 2020, 58 projects were at some phase of development in 41 countries. The team also organised two emergency fundraising - appeals in 2020. The Covid 19 appeal raised $74,033, supported 18 relief initiatives in 16 countries and helped over 36,920 people. The second appeal followed the devastating explosions in Lebanon and saw the distribution of nearly $205,000. The Vincentian Family on the ground used the funds to help 176 families, comprising 492 people, to recover dignified living conditions.

"Let us do without hesitation whatever good lies at our hands."

08

Trustees' Report

Our progress against targets

Goal One: We will respond to homelessness, and work to end it, by providing services to people who are homeless or at risk of being homeless, with a focus on those who are most vulnerable.

Within this strategic cycle, we aimed to increase the provision of meals by 15% to ensure we meet the most vital needs of the people we are here to serve. At the end of this strategic cycle, we have increased meals by nearly 73,000 per annum across services, equating to an increase of nearly 11%. Whilst just shy of our ambition, this number means that a large number of people did have access to nutritious meals that, without our services, would likely have gone hungry.

Over the past years, we have focused on adjusting our accommodation services so they could better serve the needs of our client group. In 2020, we made and average of 1,730 bed spaces available each night to make sure people had a safe place to sleep at night. Our ambitious target for this strategic cycle were an average of 1,950 bed spaces per night; however, due to the pandemic, some services were not allowed to fill all beds so as to comply with social distancing requirements.

Goal Two: We will work to end homelessness through advocacy for change in systems and government policies.

Due to the international structure of the Depaul Group, we are in a unique position to advocate on behalf of homeless people at local, national and global level.

Depaul Ukraine achieved what was deemed nearly impossible: the team developed a prisons pathway to help offenders at risk of homelessness upon release. They worked closely with all stakeholders on implementation, organised a national, cross-sector conference on homelessness and

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42,300
people helped
over 3 years
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2.2m
meals served
during this
strategic cycle
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1.8m
bed nights
made available
from 2018-2020
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104,000
volunteer hrs/year
given by the
community
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09

Trustees' Report

Our progress against targets

criminal justice and educated people on the needs of exoffenders. After only three years, Depaul Ukraine has been named an official partner in the reform of the criminal justice system and are helping to improve systems and policies.

All across the Group, we seek to improve understanding of homelessness and affect change. For example, Depaul UK conducted sector leading research resulting in reports such as Danger Zones and Stepping Stones which investigates how to better protect and support young people experiencing homelessness; and their latest research helped understand - the effects of Covid 19 on young people.

In Slovakia, after years of advocacy, the local government now acknowledges the importance of the charitable sector in delivering social services and has approved an increase in their financial contribution towards these services. The team now seeks to anchor this in national legislation.

The Institute of Global Homelessness worked to bring homelessness on to the global agenda and their efforts resulted in the United Nations issuing the first UN resolution on homelessness in over 30 years. The team has also recently signed a Memorandum of Understanding with UN Habitat to provide Members States and UN Offices with technical assistance on strategies to reduce homelessness, including definition and measurement.

Goal Three: We will develop the structures, standards and resources of the Group to underpin our growth.

Best practice and high quality services are a core element of the Depaul Group. We have therefore worked together to develop a Standards Framework that ensures all subsidiaries work to achieve high standards in service delivery, governance, finance and data protection. Over the past three years, we have also developed a new results framework that enables the Group to monitor core data across all subsidiaries so we can better understand trends and areas for improvement. This data also helps us to communicate effectively with our stakeholders and evidence the impact of our work.

In Croatia, the team carried out two street counts and will use the data to improve their service offer and strategy.

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Trustees' Report

Our progress against targets

Beginning in 2020, Depaul USA staff participated in a course on Evaluation and Capacity Building - designed to help organizations become more effective by developing their monitoring, evaluation and program improvement skills. The funder also provided a grant to develop a client management database to capture real-time information on all clients. The - database includes built in reporting and dashboards and should be fully active by the end of 2021.

Our ability as a Group to deliver services to the most marginalised communities heavily depends on the funds we are able to raise. Over the past three years, our income totals £124m. We are grateful to our supporters who have helped see our income grow - from Trusts and Corporates supporting vital services to individuals who have responded to urgent appeals and participated in events such as the World's Biggest Sleepout to shine a light on the scale of homelessness.

Goal Four: We will grow the Group at a measured pace.

The Depaul Group strives to go where there is need by developing new subsidiaries and partnerships so we can be true to our Mission and Vincentian Values.

In the past three years, this was achieved by the development of Depaul Croatia – a subsidiary that serves the homeless community in Rijeka and seeks to develop sustainable pathways off the streets in an environment that, historically, provides very little support to those that are homeless. Since we welcomed Depaul Croatia into the Group, they have increased their client numbers by 57%, developed an outreach service, expanded their day centre provision, and are now planning housing options for people that are homeless.

Depaul International and Depaul UK worked closely together - to develop a cross border project with partners in Romania. This project is a voluntary reconnection and reintegration programme for EEA/EU nationals – initially Romanians – sleeping rough in London who wish to return to their home country but have no resources to do so, due to destitution or a reluctance to ask others for help. The service aims to enable people to travel back to their home country and provide support around housing and reintegration upon arrival.

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£124m
income
2018-2020
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£110m
spent on services
over 3 years
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2018-2020
892
average number
of staff across
the Group
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One
UN resolution on
homelessness
issued
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Trustees' Report

Our plans for the future

We are excited about what lies ahead as the past year as shown that the Depaul Group is incredibly resilient and agile. Staff, volunteers and supporters spent a year going above and beyond to ensure that we could continue our service to people who are homeless. Subsidiaries responded quickly and creatively to the challenges brought on by the pandemic and our Vincentian values guided us throughout as actions became vitally more important than words.

As challenging as the past year was, it was inspiring to see how people, organisations and communities came together to make a difference.

We seek to further elevate this spirit, this creativity and commitment through the - new 2021 2023 Group Strategic Framework that was approved by the Depaul Assembly in April 2021. This framework will build on the achievements of the past, encourage learning and innovation, and focus on our unique position as a global voice on homelessness.

Our new strategy is anchored across five pillars. The first pillar – responses to homelessness - is service focused and reflects our commitment to our clients through the provision of emergency response services, diverse housing options as well as housing prevention. This pillar forms the core of everything that we do, with our clients at the heart of it.

globally and are eager to work in partnership and collaboration with other agencies.

The third pillar is more inward looking and highlights our commitment to striving for excellence and continuous learning. This pillar challenges us to look at what more we can do to further improve our services and ensures that our Vincentian values are tied into everything that we do.

The fourth pillar seeks to increase our impact and reach with one core element being fundraising as this will enable us to do more work for the people we are here to serve. It also looks at the growth of the Group so we can help people in more environments.

Within the strategic cycle, the Depaul Group has also committed itself to a new pillar: global engagement . Through this pillar, we seek collaboration across countries and with the Institute of Global Homelessness and Famvin Homeless Alliance so we can maximise the impact we are having as an international Group.

As we move into the future, we would like to thank all of our staff, volunteers, clients and supporters for everything they do; and we hope that you will join us on our journey, get involved, and help us change lives all across the world.

The second pillar seeks advocacy for change so we can make sure that the voice of people who are homeless is heard across all levels of government. We strive to change systems locally, regionally and

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Trustees' Report

Our history

The Depaul Group of charities came about as a joint response by three organisations to the rise of youth homelessness in the late 1980s in London. These were the Daughters of Charity of St Vincent de Paul, the Society of St Vincent de Paul (SSVP) and The Passage Day Centre. All three owe their vision, mission and values to the life and works of St Vincent de Paul, a great social and spiritual reformer in 17th century France. They are part of a global network of charitable and religious organisations known collectively as the Vincentian Family. St Vincent de Paul believed in action rather than words, taking risks to help the poor, and finding new ways to deal with old problems. Although Depaul International is independent of these founding

organisations, it continues to work closely with them and other members of the Vincentian Family globally. For example, members of the Congregation of the Mission, the Daughters of Charity, the International Confederation of the Society of Saint Vincent de Paul, and the AIC are

represented at governance level as Sponsor Organisations - highlighting the importance of Depaul's Vincentian heritage. The Depaul Group is recognised as being part of the Vincentian Family in its own right working inclusively with homeless and disadvantaged people of all faiths or none, which is reflected in the makeup of its staff, volunteers and Trustees.

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Trustees' Report

Our organisational structure

Depaul International was incorporated on 29 September 2004, with a change in name on 16 January 2009, to create a group structure to provide a focus of unity, stability and continuity to enable the existing Depaul subsidiaries at that time to grow and develop and to extend the work of the Depaul Group outside the UK and Ireland by setting up new subsidiaries. It is governed by its memorandum and articles of association, most recently revised in 2017. As of 2020, seven subsidiaries are part of the Depaul Group with Depaul International as the parent. The subsidiaries are, in the order of their creation; Depaul UK, Depaul Ireland, Depaul Slovakia, Depaul Ukraine, Depaul USA, Depaul France and Depaul Croatia.

Depaul International as the parent has the right to appoint all or the majority of Trustees to each of its direct subsidiaries and to approve all other appointments. The exception is Depaul Croatia where

Depaul International has the power to govern the financial and operating policies of the entity under an agreement based on the Group Agreement.

The Institute of Global Homelessness is a jointly controlled operation between Depaul International and DePaul University.

The Famvin Homeless Alliance (FHA) is a collaboration within the Vincentian Family aimed at reducing and, where possible, ending homelessness in the countries where Vincentian organisations work. The FHA addresses the issue of homelessness from a global and systemic perspective, acknowledging the urgency to work with organisations beyond the Vincentian Family. The FHA is

a collaboration without a legal entity Depaul International has been asked to provide management and governance to progress its work.

Depaul Ireland - Stephanie’s story

“I came to Depaul just over a year ago. I was two years in recovery from addiction, and was worried about where I was going to live. I grew up in foster care with no family to turn to. Many people told me they couldn’t help me, but then I found Depaul. After hearing my story, they said they didn’t have room, but that they would make room, because they believed in me. The past year has given me so many opportunities and I am now 3 years in recovery from addiction. I’m growing a lot in - - myself. I started working part time and progressed to full time work as a manager. I completed a course in addiction studies and I’m starting a psychotherapy degree in September. I couldn’t have done it without the support and encouragement of Depaul staff. When I doubted myself they encouraged me. Also, most important, I have a safe, quiet place to live, I can work on my recovery, save for college and live independently but have support when needed. Depaul will always have a special place in my heart and I’ll always be grateful for the much needed support during this transition of my life when no one else was there for me.”

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Trustees' Report

Our governance and management

Method of appointment or election of Trustees

The management of Depaul International is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. The governing body of Depaul International is the Board of Trustees. The composition of the Board of Trustees is as follows:

The Board of Trustees comprises a membership of up to 12 with 9 places taken in 2020 (2019: 10).

In 2020, three Trustees have been in office beyond nine years, including the Chair of Trustees. The reasons include challenges in recruitment, but also the wish for continuity during uncertain times. Trustees are mindful of best practice in this area and are working to address the matter in 2021. The matter has been discussed at the Board and any extensions are approved by the Assembly, with appropriate amendments made to the Group Agreement if required.

Policies adopted for the induction and training of Trustees

Newly appointed Trustees receive a letter of appointment and take part in an induction programme covering responsibilities and involvement inside and outside formal Trustees’ meetings.

The Finance and Fundraising Committee supports the Board of Trustees in the financial governance in the charity. The committee comprises 4 trustees from the Board of Trustees (2019: 3) with the Treasurer serving as Chair. In addition, there are two additional co-opted members of the Finance Committee; one - is US based and the other in the UK.

The Remuneration Committee governs the remuneration packages of executive staff. The membership of the committee comprises 4 trustees (2019: 4) from the Board of Trustees, with the Chair of Depaul International serving as Chair.

Trustees are normally elected for a period - of three years and may be re elected for - two further three year periods.

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Trustees' Report

Our governance and management

Arrangements for setting the pay and remuneration of key management staff

The Depaul Group Policy and Principles for the Determination of Executive Remuneration reflects the Depaul Group's reward philosophy for key management personnel, and forms the basis upon which Depaul International and Depaul Group subsidiaries are expected to manage executive remuneration.

The objective of the Depaul Group's Executive remuneration policy and principles is to ensure that the Chief Executive and staff team are, in a fair and responsible manner, rewarded for their contributions to the success of the charity. The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to comparisons with other charities, ensuring the Depaul Group remains sensitive to the broader issues e.g. pay and employment conditions elsewhere.

We aim to recruit and reward staff, subject to experience, broadly at the median - market value of like posts in the - - voluntary/not for profit sector to allow for progression over time.

More details can be found in the governance section on our website: int.depaulcharity.org.

Management - Organisational structure and decision making

powers to management. These powers are formally documented in a Scheme of Delegation which is reviewed annually.

The Trustees have established appropriate controls and reporting mechanisms to ensure that the staff team operates within the powers delegated to it.

Statement on Charity Governance Code

The Depaul Group reviews its governance practice against its own governance and financial governance frameworks on a regular basis. The governance framework aligns to the principles of the Charity Governance Code.

In 2018, the Board reviewed its own governance practice, compared this with the Charity Governance Code and adopted the principles and recommended practice of the Code. This was undertaken proportionately to the charity's size. All subsidiaries have now completed a governance review with USA and Croatia having completed theirs in early 2021.

Safeguarding

The Depaul Group is committed to ensure the safety of its beneficiaries, staff and volunteers through comprehensive safeguarding policies. The Depaul International Board reviews safeguarding as a standard agenda item. Safeguarding practices are reviewed regularly at Board level, to ensure constant improvement and alignment with best practice approaches.

In order to ensure that Depaul International is managed efficiently and effectively, the Trustees have delegated a - - range of day to day decision making

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Trustees' Report

Our governance and management

Employee involvement and employment of the Disabled

Employees have been consulted on issues of concern to them by means of regular consultative committee and staff meetings and have been kept informed on specific matters directly by management. Trustees in each Depaul organisation are actively encouraged to visit projects to meet with employees and listen to their views.

The Depaul Group has implemented a number of detailed policies in relation to all aspects of personnel matters including:

our volunteers.

Our volunteer capacity was, understandably, significantly impacted by the coronavirus pandemic. In 2020 over 636 volunteers (2019: 1,640) contributed nearly 52,000 hours (2019: 133,000) to the group. Depaul International and the Group are grateful for the continued efforts of its volunteers who are involved in service provision, administration and fundraising.

Depaul Ireland holds Investors in Volunteers awards, the first organisation to achieve this in both the Republic of Ireland and Northern Ireland.

Equal Opportunities Policy Volunteers Policy Health & Safety Policy

In line with the Depaul Group's Equal Opportunities Policy, the Depaul Group has long established fair employment practices in the recruitment, selection, retention and training of disabled staff. Full details of these policies are available from the Depaul Group's offices.

Volunteers

Depaul International has a strong culture of volunteering. It believes that voluntary sector organisations should be a platform for people to show their care and compassion, and that the experience should be as beneficial to our volunteers as it is to us. Depaul International will ensure that volunteers have a strong involvement in the development of the organisation. The Depaul Group has volunteer coordinators to ensure that best value is derived from the efforts of all of

Information on Fundraising Practices

Depaul International and Depaul UK are both members of the Institute of Fundraising. Depaul International has not contracted the services of professional fundraisers nor commercial participators. No complaints have been received by Depaul International about its fundraising activities.

We will not put undue pressure or unreasonably intrude on anyone to make a gift. We do not raise funds through telephone or doorstep fundraising or work with agencies to do so. If any of our donors do not wish to receive future communications from us, we are clear in our mailings and on our website about how to advise us of this decision. The same is true if a current donor would like to stop donating to Depaul International. We are also clear about how complaints can be made and about our plan to deal with these quickly and appropriately.

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Trustees' Report

Financial review

Like many other charities, with the onset of the pandemic, we had concerns that the financial impact of the situation would create an additional challenge and risk, with the prospect of lost income coupled with increased costs. We are grateful that these fears were not realised in 2020, with generous donations from our loyal supporters, government support available to some subsidiaries and careful cost management across the Group.

The Depaul Group finished 2020 with a surplus of £2.5m (2019: £0.7m). This boost to our reserves places us in a good position - to weather the ongoing and potentially longer term impact of the pandemic. The results for the year to 31 December 2020 are set out in the Consolidated Statement of Financial Activities on page 30 and the financial position at 31 December 2020 is shown in the Balance Sheets on pages 31 and 32. An analysis of the results by organisation can be found at Note 33.

The surplus achieved has largely been the result of significant growth in income with total income of £44.2m (2019: £40.3m). This is an increase of 10% when compared to the previous year. Part of this income, and surplus, was capital funding of £0.7m that has been used to refurbish our Manchester Safestop property in the U.K., the costs of which are capitalised giving rise to a surplus this year. Our largest source of income is contractual income, whereby the charity is commissioned by governments and other public bodies to provide services (described as charitable activities in the financial statements). This income increased by £3.1m to £31.6m (2019: £28.5m) compared. Income from donations and legacies also increased across the Group in 2020 (16% increase to £9.3m). Fundraising events and trading activity were severely impacted by the restrictions around the globe and generated £0.5m (2019: £0.9m) for the Group, a 45% decrease from 2019. Other income of £2.8m (2019: £3.0m) is received by Depaul UK from lotteries draws.

Depaul International raised total income of £2.2m in the year ended 31 December 2020 (2019: £1.6m) through voluntary sources and subscriptions. Total expenditure for the year was £1.7m (2019: £1.5m). The resulting surplus will be used to fund additional work in subsidiaries in 2021 as well the creation of a

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Trustees' Report Financial review

new designated fund, further details of which are provided below.

Across the Group, our growth in income allowed us to continue to provide our vital services, and more, during a year when they were needed more than ever. As a result our expenditure increased by 5% to £41.7m (2019: £39.6m).

At the end of the year the Group held cash of £13.1m (2019: £9.9m), an increase of £3.2m. A significant portion of the cash held relates to restricted income that is due to be spent and designated funds set aside for specific purposes by the Trustees. The remaining cash held is in line with our reserves policy and ensures the financial sustainability of the charity.

Depaul International board on a quarterly basis. These include KFPIs which monitor income against budget, diversity of income sources, fundraising ratios, overhead ratios and levels of reserves. Performance against KFPIs in each subsidiary is monitored by Depaul International's Senior Management Team and the Trustees.

Investment Policy and Performance

Depaul International has fairly modest investments. Our objective is therefore to maintain high liquidity whilst ensuring maximum security, meeting our ethical standards and achieving the highest possible return.

Reserves

Performance of material fundraising against objectives set

The Boards of DPI and the Depaul Group set fundraising targets of £8.5m for donations and income from events for 2020 (2019: Target £8.5m; achieved £8.4m). This ambitious target was exceeded by 14% with total fundraised income of £9.8m in 2020, despite the challenges arising from the pandemic. Our fundraising teams acted quickly to run new appeals and redesign fundraising events that could not take place as planned. We are extremely grateful to the many foundations, trusts, companies, community groups and individuals who responded positively to our requests for funding.

At the 31 December 2020 the total reserves of the group were £18.2m, of which £3.7m are restricted and £14.5m are unrestricted. The Group's reserves fall into two types:

Restricted funds:

These are generated when the donor stipulates how their donation must be spent or as a result of an appeal that has been run through which the donors would expect the proceeds of which to be spent on a specific project or activity. The restricted funds are analysed between:

(i) funds held by Depaul International which are for restricted projects in the subsidiaries; and

Key Financial Performance Indicators

Each subsidiary reports Key Financial Performance Indicators (KFPIs) to the

(ii) the restricted funds held by each of the subsidiaries which are the aggregate of restricted funds held locally.

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Trustees' Report

Financial review

Unrestricted funds:

These are generated when the donor does not stipulate how their donation must be spent. Unrestricted funds include designated and other funds where the Trustees have set aside money for a specific purpose or to cover possible risks. We monitor these to ensure they are expended in line with the agreed plans, whilst guaranteeing these resources are used effectively. The general funds held by subsidiaries are also included in designated funds.

The capital funds held by the subsidiaries, included in designated funds, are fixed asset reserves. These comprise the funds investedin fixed assets net of any associated borrowing, to allow the organisation to work effectively. They are kept separately from the other funds becauseit is not possible to use them elsewhere in the withinthe Depaul Group.

Reserves Policy

The Trustees have adopted a reserves policy which they consider appropriate to ensure the continued ability of the charity to meet its objectives and obligations. Consideration is given to assessing the risk, probability and likely impact on our ability to meet our financial obligations or reduce our expenditure in the short term as a result of a decline in income. The Trustees review the reserves policy annually and consider that there are sufficient reserves held at year end to avoid an unacceptable level of disruption to the organisation in the event of a downturn in future income.

Depaul International aims to build free reserves to a level comprising a minimum

of 25% of the annual staff and overheads costs expended by Depaul International. At 31 December 2020 that level should be at least £190,000. The unrestricted funds held by the Group comprised free reserves of £314,000 held by Depaul International, designated funds held by Depaul International of £313,000, Group capital funds of £3,658,000 and unrestricted funds held by subsidiaries of £10,616,000 (see Note 24 for more details).

At 31 December 2020, Depaul International (charity only) had free reserves £124,000 above our minimum target level. The Trustees have agreed some additional expenditure in 2021 that will reduce our free reserves slightly whilst remaining above our minimum target.

As stated above, the Depaul International Trustees have created a new designated fund with part of the surplus achieved in 2020. This designated fund will be invested to generate an additional source of income going forward which will increase diversity of income, reduce reliance on existing sources and provide greater financial stability and sustainability in the future.

Each subsidiary of the Group has its own reserves policy, which is in line with Group reserves policy and its principles. Subsidiary Boards are primarily responsible for the financial viability of their organisation.

One role of Depaul International is to review risks across the Group. Financial stability is monitored through the quarterly Key Financial Performance Indicators, as described above. All

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Trustees' Report

Financial review

subsidiary budgets are reviewed and ratified by Depaul International. In addition to income and expenditure, the budget packs include balance sheets, analysis between funds, reserves ratios, and financial plans for three years.

Going Concern

After making appropriate enquiries, including assessments of the key risks (see below) and the preparation of financial - and strategic plans for 2021 2023, the Trustees have a reasonable expectation that the charity and the group have adequate resources to continue in operational existence for the foreseeable future.

In 2020, this included completely revising our planned budgets to include an - estimate of the impact of the Covid 19 pandemic. It was anticipated that the impact on voluntary income would be significant and as such, cost reduction measures were taken. In addition, alternative means of generating income were successfully developed. Depaul International is expecting a small deficit in 2021, which is entirely funded from unspent restricted funds and the surplus achieved in 2020. Across the Depaul Group, subsidiaries have adapted well to the pandemic. Depaul Ireland and Depaul USA are planning for small deficits in 2021 which are funded from adequate reserves built during 2020. Following confirmation of ongoing lottery funding, Depaul UK is now expecting a small surplus in 2021.

This assumes ongoing partnership, financial and otherwise, from the Vincentian Family and other key

supporters. For this reason the Trustees continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies at Note 1.

Principal Risk and Uncertainties

The Trustees have assessed the major risks to which Depaul International and the group is exposed. The main risks were identified and mitigating actions agreed. The Trustees are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

Each subsidiary assesses its own risks. These are formally reviewed and agreed by their Trustees and this information is made available to the Trustees of Depaul International. Each Depaul subsidiary has an action plan, policies and procedures in place to mitigate the risks.

The principal risks and uncertainties for the Depaul Group are as follows:

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Trustees' Report

Financial review

demand for services and funding available. It is becoming clear that the ongoing pandemic is taking a toll on the mental health of our staff and beneficiaries. Depaul will continue to operate in an agile manner, protecting and supporting our staff and clients in line with local guidance and restrictions.

In line with many charities both statutory and fundraised income may fall short of target and staff will not have the capacity to manage a growing range of demands. Depaul International manages its finite resources by prioritising programmes, robust financial management, supporting local Boards in all its subsidiaries and using volunteers where appropriate.

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Trustees' Report

Our Trustees' responsibilities

Trustees' indemnities

Trustees of Depaul International, Depaul UK, Depaul USA and Depaul Ireland are covered by professional indemnity insurance. The Trustees of Depaul International were covered by the policy held by Depaul UK during 2020.

Trustees' responsibilities statement

The Trustees (who are also directors of Depaul International for the purposes of company law) are responsible for preparing the Group Strategic Report, the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the Group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the group's transactions and

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Trustees' Report

Our Trustees' responsibilities

disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006.

Disclosure of information to auditor

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable group's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report, including the Strategic Report, was approved by the Trustees, who are also Directors, on 2 August 2021 and signed on their behalf by:

John Darley, Chair

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Independent auditor's report to the members of Depaul International

Opinion

(UK) (ISAs (UK)) and applicable law.

We have audited the financial statements of Depaul International ‘the charitable company’ and its subsidiaries (‘the group’) for the year ended 31 December 2020 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including significant accounting policies.

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report.

We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's or the group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

We conducted our audit in accordance with International Standards on Auditing

01 2501

Independent auditor's report to the members of Depaul International

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.

law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

Matters on which we are required to report by exception

In light of the knowledge and understanding of the Group and the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the Trustees’ report.

If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit:

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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Independent auditor's report to the members of Depaul International

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement set out on page 23, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group’s or the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and noncompliance with laws and regulations are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are - instances of non compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members including significant component audit teams. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

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Independent auditor's report to the members of Depaul International

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company and the group for fraud. The laws and regulations we considered in this context for the UK operations were health and safety legislation, employment legislation, General Data Protection Regulation (GDPR) and taxation legislation. We also considered compliance with local legislation for the group’s overseas operating segments.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Finance and Fundraising Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained - a higher risk of non detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible - for preventing non compliance and cannot - be expected to detect non compliance with all laws and regulations.

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Independent auditor's report to the members of Depaul International

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Tim Redwood Senior Statutory Auditor For and on behalf of

Crowe U.K. LLP Statutory Auditor London

Date: 21 September 2021

2901

Consolidated statement of financial activities

(incorporating an income and expenditure account) for the year ended 31 December 2020

The notes on pages 34 to 65 form part of these financial statements.

3001

Consolidated balance sheet

as at 31 December 2020

The financial statements were approved and authorised for issue by the Trustees on 2nd August 2021 and signed on their behalf by:

John Darley Chair

The notes on pages 34 to 65 form part of these financial statements.

013

Charity balance sheet

as at 31 December 2020

The financial statements were approved and authorised for issue by the Trustees on 2nd August 2021 and signed on their behalf by:

John Darley Chair

The notes on pages 34 to 65 form part of these financial statements.

3201

Consolidated statement of cash flows

for the year ended 31 December 2020

The notes on pages 34 to 65 form part of these financial statements.

3301

Notes to the financial statements

for the year ended 31 December 2020

1. Accounting policies

1.1. Company Status

The charity, Depaul International, is registered as a company limited by guarantee in England and Wales (number: 5245818). The members of the company are currently the Trustees named on page 67. Its registered address is: St Vincent's Centre, Carlisle Place, London, SW1P 1NL.

Depaul International is also registered as a charity with the Charity Commission (number: 1107385).

1.2. Basis of preparation of financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102, effective 1 January 2015: the Charities SORP) and the Companies Act 2006.

Depaul International meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction

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Notes to the financial statements for the year ended 31 December 2020

value unless otherwise stated in the relevant accounting policy.

The Statement of Financial Activities (SOFA) and Balance sheet consolidate the financial statements of the charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

No separate SOFA has been presented for the charity alone as permitted by section 408 of the Companies Act 2006.

In addition, budgets and forecasts for 2021- 2023 have also been updated. For some subsidiaries the use of unrestricted or designated funds was also agreed to meet any shortfalls. The key risks assessed are described in the Trustees' Report. The outcome of our action and planning is that Trustees have determined that Depaul International is financially sound and that there are no material

uncertainties about the Depaul Group's ability to continue as a going concern. The accounts have therefore been prepared on a going concern basis.

1.3. Basis of consolidation

1.5. Income

The financial statements consolidate the accounts of Depaul International and all of its subsidiary undertakings ('subsidiaries').

1.4. Going concern

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Depaul International continues to operate on a going concern basis. The Trustees regularly review detailed financial projections, which are adjusted to take into account revised assumptions and events. Where such projections indicate a potential problem corrective action is taken to protect the future financial viability of the organisation.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate.

Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

3501

Notes to the financial statements

for the year ended 31 December 2020

For event income, entitlement is taken as the earlier of the date of the event or the - receipt of income if the income is non refundable.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of supporters is not recognised (See Trustees' report for more information about their contribution.)

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Grants receivable from the Government and other agencies have been included as income from charitable activities where these amount to a contract for services, but as donations where the money is given in response to a fundraising appeal or with greater freedom of use.

Income from government and other grants is recognised in the financial statements when receivable unless they are performance related. Performance related grants and contracts for services, including rental income, are recognised in income to the extent that entitlement has been earned through delivery of the underlying service.

1.6. Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

1.7. Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity.

3601

Notes to the financial statements

for the year ended 31 December 2020

Direct costs attributable to a single activity are allocated directly to that activity.

All expenditure is inclusive of irrecoverable VAT.

Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Overheads have been allocated on the basis of direct costs in the relevant project or activity.

Fundraising costs are those incurred in seeking voluntary contributions, contracts and statutory grants.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

Resources expended on charitable activities comprise expenditure incurred on the defined charitable purposes and include grants payable, direct staff and other costs attributable to those activities including allocated support costs.

1.8. Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3701

Notes to the financial statements

for the year ended 31 December 2020

1.9. Turnover

Turnover comprises revenue recognised by the charity in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

1.10. Intangible fixed assets and amortisation

Intangible assets are capitalised at cost. The associated costs of a franchise are amortised on a straight-line basis over the term of the franchise agreement.

Amortisable intangible assets are reviewed periodically for impairment when events or changes in circumstances indicate the carrying amount of an asset may not be recoverable.

1.11. Tangible fixed assets and depreciation

All assets costing more than £1,000 are capitalised.

1.12. Operating leases

Rentals under operating leases are charged to the SOFA on a straight line basis over the lease term.

1.13. Stocks

Stocks are valued at the lower of cost and net realisable value after making due - allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the SOFA.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

1.14. Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

3801

Notes to the financial statements

for the year ended 31 December 2020

1.15. Foreign currencies

Items included in the financial statements of each of the Depaul Group's entities are measured using the currency of the primary economic environment in which the entity operates ('the functional currency'). The consolidated financial statements are presented in sterling, which is the charity's functional and presentation currency.

Transactions in foreign currencies are recorded into each subsidiaries functional currency at the rate ruling on the date of the transaction.

For the purpose of consolidation, transactions in foreign currencies are translated into sterling at an average for the year.

transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of - those amounts, discounted at the pre tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.18. Pensions

Assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Exchange gains and losses are recognised in the SOFA.

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

1.19. Significant estimates and judgments

1.16. Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.17. Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a

The Depaul Group's critical accounting policies under FRS 102 have been set by management with the approval of the Trustees. The application of these policies requires estimates and assumptions to be made concerning the future and judgments to be made on the applicability of policies to particular situations. Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events

3901

Notes to the financial statements

for the year ended 31 December 2020

that are believed to be reasonable under the circumstances.

Under FRS 102 an estimate or judgement may be considered critical if it involves matters that are highly uncertain or where different estimation methods could reasonably have been used, or if changes in the estimate that would have a material impact on the Depaul Group's results are likely to occur from period to period.

The critical judgments required when preparing the Group accounts are as follows:

(i) Provisions: Rental income arrangements with some tenants and local authorities is received in arrears and there is always a risk of some debts becoming irrecoverable. An appropriate provision has been made in the accounts to take account of that risk.

(ii) Useful economic lives of tangible assets: The annual amortising and depreciation charges for the intangible and tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are amended when necessary to reflect current estimates based on future investments and physical condition of the assets. For freehold properties, a valuation is conducted every five years. In addition, impairment reviews are carried out every year.

(iii) Capital funding: capital funding received that has conditions attached may be repayable if the conditions are not met each year over a long period of time, currently up to 30 years. Where this funding is secured using a charge over the properties such liabilities have been recognised as loans in line with the wording and details of the funding agreements.

Depaul USA- Monise's story

Monise became homeless at the age of 16 when her mother asked her to leave home. Depaul USA quickly arranged for her to move into one of their supported housing programmes. Undoubtedly, this was a nerve-wracking experience for Monise, who was very young, tackling depression and had only the clothes on her back. The team worked hard to reassure Monise and helped her to apply for food stamps, health insurance and disability income. By laying this groundwork, Monise was then better able to address her physical and mental health care needs and, with Depaul’s support, she enrolled in counselling. Although, devastatingly, Monise - lost both her mother and grandmother to Covid 19, the team helped her to see a path forward. They assisted her in finding affordable accommodation and she is even a proud mum to a new rescue dog. While Monise keeps in touch, with the team’s encouragement she has grown in confidence and independence; she is proud of her achievements and is on her way to realising her potential.

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Notes to the financial statements for the year ended 31 December 2020

2. Financial performance of the Charity

The consolidated SOFA includes the results of the charity's wholly owned subsidiaries which provide services for clients. The summary financial performance of the charity alone is:

3. Income from donations and legacies

014

Notes to the financial statements

for the year ended 31 December 2020

4. Fundraising events income

5. Trading activities

The trading comprises retail sales of donated goods. This is undertaken by a trading subsidiary of Depaul USA.

6. Investment income

4201

Notes to the financial statements

for the year ended 31 December 2020

7. Analysis of income from charitable activities by type of income

Contributions from the UK government included Supporting People contracts of £7.9m (2019: £6.1m). There are no unfunded commitments or unfulfilled conditions.

8. Other income

Other income includes £2.6m (2019: £2.9m) income from lotteries, received by Depaul UK. The People's Postcode Lottery was appointed as Depaul UK's external lottery manager to run lotteries on their behalf. Other income shows only the net proceeds of these lotteries included in these accounts as this better reflects the impact on operations.

4301

Notes to the financial statements

for the year ended 31 December 2020

9. Raising funds expenditure analysis

10. Charitable activities expenditure analysis

The work of the Depaul Group is complex, but for accounts purposes the charitable activities are classified simply as:

4401

Notes to the financial statements

for the year ended 31 December 2020

11. Support and governance costs

Within 'other direct costs' above, are included the following governance costs:

During the year, 3 Depaul International trustees received reimbursement of expenses of £1,000 (2019: 6 trustees, £23,000)

12. Net income / (expenditure)

4501

Notes to the financial statements

for the year ended 31 December 2020

13. Auditor's remuneration

14. Staff numbers and costs

The staff numbers include permanent staff and weekly locum staff for the Depaul Group. The average number of persons employed by the charity during the year was as follows:

The number of higher paid employees was:

The total amount of benefits received by the key management personnel of Depaul International is £313,000 (2019: £310,000). This includes £29,000 of employer’s national insurance payments (2019: £30,000). Details of the key management personnel can be found on page 67. None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.

Of those employees in the Depaul Group who earned £60,000 or more during the year (as defined above), employer contributions are made to money purchase schemes in

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Notes to the financial statements

for the year ended 31 December 2020

14. Staff numbers and costs (continued)

respect of 8 (2019: 11) of them. Total employer contributions to money purchase schemes in respect of such employees during the year amounted to £44,000 (2019: £45,000).

The Depaul Group Policy and Principles for the Determination of Executive Remuneration reflects the Depaul Group’s reward philosophy for senior executive staff, and form the basis upon which Depaul International and Depaul Group subsidiaries are expected to manage executive remuneration. More details can be found on the website www.int.depaulcharity.org in the transparency section.

Staff and volunteer costs for the year were as follows;

Other employee costs comprise professional fees needed to develop bids to commissioners for new services. It also includes agency staff, volunteers' expenses (including the European Volunteer Scheme where young people from Europe live and volunteer at Depaul projects), Vincentian Values and other training, employee travel, insurance and recruitment. More details on the contribution of volunteers can be found on page 17.

During the year £27,000 (2019: £32,000) was paid out in redundancy and termination payments. This was largely in relation to restructuring of central services teams in Depaul UK. All obligations in relation to redundancy are recognised in the year in which the redundancy or termination is agreed.

15. Taxation

Depaul International and its subsidiaries are registered charities or the local equivalent and therefore are not liable to direct taxes on income derived from their charitable activities, as they fall within sections 466 to 493 Corporation Tax Act 2010 to the extent that these are applied to its charitable objects. VAT and other sales taxes incurred are not recoverable and are included as part of the underlying expenditure.

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Notes to the financial statements

for the year ended 31 December 2020

16. Tangible fixed assets

All tangible fixed assets are in the Group. No tangible fixed assets are held by the charity.

Freehold Property and long leaseholds include a capitalised long leases with a net book value of £1,850,000.

The loss on tangible fixed assets shown above as currency translation differences reflects the retranslation of the opening cost and depreciation of primarily properties and associated improvements using the exchange rate as at 31 December 2020.

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Notes to the financial statements

for the year ended 31 December 2020

Transfers between classes have been made during the year to correct the opening allocation of balances as at 31 December 2019 relating to Depaul UK.

17. Fixed Asset Investment

Group listed fixed asset Investments

All fixed assets investments are held in the group. No fixed assets investments are held by the charity.

The market value of the listed investments at 31 December 2020 was £93k (2019: £92k). Listed fixed asset investments held in the UK amount to £93k (2019: £92k). Listed investments are also held by Depaul USA as current assets (see Note 21 for details).

18. Programme related investments

All programme related investments are held in the group. No programme related investments are held by the charity.

Programme related investments are recognised at amortised cost.

During the year ended 31 March 1999 Depaul UK contributed £47,000 towards the refurbishment of properties in Newcastle owned by Home Housing and occupied by the Simonside project which Depaul UK manages and funds. Depaul UK has a legal

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Notes to the financial statements

for the year ended 31 December 2020

charge on the building and, in the event of the termination of the project, will recover either the amount of £47,000 or 20% of the proceeds from a sale of the property, whichever is higher.

19. Stocks

20. Debtors

21. Current asset investments

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Notes to the financial statements

for the year ended 31 December 2020

Group listed investments

The market value of the listed current asset investments at 31 December 2020 was nil (2019: £160,000).

Current asset investments were held in the USA by Depaul USA. Listed fixed asset investments are held in the UK by Depaul UK (see note 20 for details).

22. Creditors: amounts falling due within one year

Income is deferred where there are outstanding performance conditions that are required to be met before the charity is entitled to recognise income received or where time restrictions on the use of monies have been imposed by the funder.

Depaul subsidiaries took out the following loans to improve liquidity:

Depaul USA – a note payable from the State Bank of $85,000 (£65,000) collaterised by a Certificate of Deposit owned by the Chair or Depaul USA, interest payable at 2.55%, maturing in March 2022. The outstanding balance at 31 December 2020 was $25,000 (£18,000) (2019: £65,000).

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Notes to the financial statements

for the year ended 31 December 2020

Depaul France - A note payable from the Daughters of Charity to Depaul France of up to - €480,000 for the refurbishment of Perichaux building in Paris. The note is non interest bearing, secured by the building and repayable from 31 December 2017. The balance owed at 31 December 2020 was €200,000 (£184,000) (2019: £189,000). Agreement has been reached with the Daughters of Charity to repay the loan at €5,000 per quarter from March 2020.

23. Creditors: amounts falling due after more than one year

All creditors falling due after more than more year relate to the Group. The Charity did not have any creditors falling due after more than one year.

Other loans included above, together with loans due in less than one year, fall due as follows:

Creditors include amounts not wholly repayable within 5 years as follows:

In 2017, Depaul USA entered into an agreement with the St Louis Mental Health Board (SLMHB) to provide permanent supportive housing for homeless residents. The SLMHB provided a $250,000 note (£195,000) to fund the programme. The note payable bears no interest

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Notes to the financial statements

for the year ended 31 December 2020

23. Creditors: amounts falling due after more than one year (continued)

for a term of ten years. From May 2019 and for each successive annual anniversary until the end of the term of the loan, the principal balance is reduced without any payment by $25,000 and recognised as income.

During 2016, Depaul UK entered into a loan arrangement with London Housing Foundation. - This loan is repayable on semi annual installments from 30 June 2019. Interest is charged at 4% per annum. The loan is secured against 10 St Stephens Crescent, a property owned by Depaul UK.

In 2015, Depaul USA entered into an agreement with the Philadelphia Redevelopment Authority (PRA) to provide permanent supportive housing for homeless residents. This programme was funded by the Department for Housing and Urban Development (HUD). The loan bears no interest for a term of 30 years. Beginning on the 26th anniversary of the loan and for each successive anniversary until the end of the term, the principal balance shall be reduced without any payment by an amount equal to 20% of the original principle amount of $2,080,000 (£1,788,000) as long as the property is used as intended and in line with conditions specified in the loan agreement. The loan becomes repayable if the conditions are not met. As at 31 December 2020, all conditions have been met. This agreement included funding of approximately $147,000 (£109,000) for developer fees. Although these fees have been earned by the organisation, recognition of income will be deferred in conjunction with the HUD loan agreement.

In 2020, Depaul USA received a loan from Wintrust Bank of $545,000/£504,000 under the Paycheck Protection Program established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The loan is subject to a note dated April 16, 2020 and may be forgiven to the extent proceeds of the loan are used for eligible expenditures such as payroll and other expenses described in the CARES Act. As at 31 December 2020, Depaul USA had applied for forgiveness of the loan but this was not approved until February 2021.

Depaul Housing Association took out a loan with Clann Credo in 2020 for €146,000/£132,000 (2019: nil). Variable interest is charged at 4.95% above the European Central Bank refinancing rate. The loan is repayable in monthly installments.

In 2020, Depaul Housing Association entered into arrangements with various local authorities as part of the Capital Assistance Scheme. Under this scheme, no interest or capital is payable on the funding provided certain conditions are complied with over the life of the arrangement, which is 30 years. This funding is secured by charges on the properties purchased by Depaul Housing Association. If the conditions are not met, interest is charged at 1.75% and the loan becomes payable in annual installments for each year of non compliance. The balance outstanding at 31 December 2020 was €3,503,000/£2,265,000 (2019: nil).

5301

Notes to the financial statements

for the year ended 31 December 2020

24. Current year statement of funds

5401

Notes to the financial statements

for the year ended 31 December 2020

24. Current year statement of funds (continued)

The designated funds are amounts set aside by Trustees for a specific purpose such as supporting a specific subsidiary or to cover possible risks. The Charles Leeming fund (^) is to support cross-cultural and professional learning across the group. The new sustainability fund has been created using surplus general funds that Trustees plan to invest to generate an additional source of income to cover the core costs of Depaul International thus ensuring the long term sustainability of the charity.

The designated capital and long term liabilities funds relate to funds invested in fixed assets and associated loans in certain subsidiaries where Trustees have set aside these amounts because they are not available for use elsewhere. The assets and associated liabilities are used by the group to carry out their activities.

5501

Notes to the financial statements

for the year ended 31 December 2020

24. Current year statement of funds (continued)

Unrestricted revenue funds held in subsidiaries are general funds held by each subsidiary in line with their own reserves policies. Further details of our reserves policy can be found on page 20.

The restricted funds represent the aggregate of restricted income, expenditure and funds in each of the Depaul organisations for projects where donors have specified how the funds are to be used.

Within Depaul International restricted income is received to spend in specific subsidiaries. In addition, Depaul International receives restricted funding for the work that is undertaking by the charity in relation to the Institute of Global Homelessness (IGH) and Famvin Homeless Alliance (FHA).Further details of these operations are outlined in Note 33.

Transfers from USA restricted funds to USA unrestricted funds include donations received from the Daughters of Charity which are available to cover core costs.

Transfers from Ireland unrestricted funds to Ireland restricted funds relate to a deficit arising from activities funded by restricted income that was supplemented by unrestricted reserves.

Transfers from Croatian restricted funds to unrestricted funds have been made following a review of fund balances highlighting that unrestricted reserves have been used to fund restricted activities in the past.

Transfers into capital funds relate to additions to fixed assets net of loan repayments where assets have been purchased using restricted or general funds.

5601

Notes to the financial statements

for the year ended 31 December 2020

25. Analysis of net assets between funds

26. Reconciliation of net movement in funds to net cash flow from operating activities

5701

Notes to the financial statements

for the year ended 31 December 2020

27. Analysis of cash and cash equivalents

28. Analysis of changes in net debt

29. Capital commitments

At 31 December 2020 the group and charity had no capital commitments.

30. Pension commitments

Depaul International, Depaul UK and Depaul Ireland operate defined contributions pension schemes. The Depaul International scheme is managed within the Depaul UK scheme. The assets of the schemes are held separately from those of the Depaul Group in independently administered funds. Depaul Ukraine and Depaul Croatia make mandatory payments to state operated pension funds. The pension cost charges represent contributions payable by these organisations to each fund and amounted to £616,000 (2019: £544,000). Contributions totaling £54,000 (2019: £53,000) were payable to the funds at the balance sheet date and are included in creditors.

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Notes to the financial statements

for the year ended 31 December 2020

31. Operating lease commitments

At 31 December 2020 the total of the Group’s future minimum lease payments under non ‑ cancellable operating leases was:

The organisation also entered into a 99 year capital lease in December 2014 for property located in Philadelphia.

32. Post balance sheet events

As stated in Note 23, Depaul USA received a loan from Wintrust Bank of $545,000/£504,000 under the Paycheck Protection Program established by the Coronavirus Aid, Relief, and Economic Security (CARES). The loan is subject to a note dated April 16, 2020 and may be forgiven to the extent proceeds of the loan are used for eligible expenditures such as payroll and other expenses described in the CARES Act. As at 31 December 2020, Depaul USA had applied for forgiveness of the loan but this was not approved until February 2021.

33. Principle subsidiaries and their results

Depaul International was incorporated on 29 September 2004 to create a group structure to provide a focus of unity, stability and continuity to enable the existing Depaul subsidiaries at that time to grow and develop, to extend the work of the Depaul Group outside the UK and Ireland by setting up new subsidiaries, and to ensure that the shared Vincentian ethos of the organisation was maintained throughout the organisation, especially as it developed and expanded its work into new countries.

Depaul International is the parent company of:

Depaul UK (Sherborne House, 34 Decima St, London SE1 4QQ), a company incorporated in England and Wales limited by guarantee (no. 2440093) and registered as a charity by the Charity Commission for England and Wales (no. 802384) and its wholly owned subsidiaries Depaul UK Trading CIC and Depaul Housing Services.

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Notes to the financial statements

for the year ended 31 December 2020

Depaul Ireland (18 Nicholas Street, Dublin 8, D08 VCP7), a company incorporated in Ireland with limited liability (no. 357828) and also recognised in Ireland as a charity and its wholly owned subsidiary Depaul Northern Ireland (449 Antrim Road, Belfast, BT15 3BJ), a company incorporated in Northern Ireland limited by guarantee (no. 054106) and registered as a charity by the Charity Commission for Northern Ireland (no. 102995). Depaul Housing Association was registered as a company incorporated in Ireland with limited liability (no. 590529) as a subsidiary of Depaul Ireland on 4th October 2016.

Depaul Slovensko (n.o. Mokrohajska cesta 6, 814 04 Bratislava, Slovakia), a legal entity established as non-profit organisation under the laws of the Slovak Republic and recognised as having charitable status (no. 37924443).

Depaul Ukraine (Kostyolna, 15, Kharkiv, 61027, Ukraine), a Ukrainian charitable organisation incorporated under the Constitution of Ukraine in accordance with the law of Ukraine on 'Charity and Charitable Organisations' (no. 35119436). Branches are registered in Kharkiv, Odesa, Snyatin and Kiev.

and its wholly owned subsidiaries Immaculate Cleaning Services LLC, Marillac Properties LLC, Depaul USA Thrift LLC and Depaul USA Realty LLC.

Depaul France (41 Rue des Périchaux, 75015 Paris, France), a company incorporated in France (no. 799 505 813 00011 9499Z) and charitable organisation incorporated under French Law as a loi 1901 (no. W751220144).

Depaul Group Trading Limited, a company incorporated in England and Wales limited by shares (no. 9408970) is dormant.

Depaul Croatia (Ul. dr. Frana Kresnika 15, 51000, Rijeka, Croatia), an Association (PIN - 57378713460). It is a legal entity established and existing under the laws of Croatia as a non profit organization providing generally helpful services and recognised as having Charitable Status there, having its registered Head Office at Frana Kresnika 15, 51 000, Rijeka, Croatia.

A summary of the results of members of the Depaul Group for 2020 are below:

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Notes to the financial statements

for the year ended 31 December 2020

The Institute of Global Homelessness is a jointly controlled operation between Depaul International and DePaul University and has been accounted for as such.

The Famvin Homeless Alliance (FHA) is a collaboration within the Vincentian Family (with two million members) aimed at reducing and, where possible, ending homelessness in the countries where Vincentian organisations work. FHA is not a legal entity. Depaul International has been asked to provide management and governance to progress its work and as such funding and expenditure for the project is recognised in Depaul International’s accounts. The FHA addresses the issue of homelessness from a global and systemic perspective, acknowledging the urgency to work with organisations beyond the Vincentian Family.

34. Related party transactions

The Daughters of Charity and the Society of Saint Vincent de Paul are both sponsor organisations as defined in our Articles of Association and, as such, have a nominated member on the Depaul International Board.

We continue to be very grateful to The Daughters of Charity who provide support to the

016

Notes to the financial statements

for the year ended 31 December 2020

Depaul Group in many ways. A loan was advanced by the Daughters to Depaul France in 2015 to finance the refurbishment of the Perichaux project. The outstanding balance at 31 December 2020 is €200,000 (2019: €214,000), see Note 22. Some of the Daughters support our projects with their time. Depaul subsidiaries spent £28,000 (2019: £28,000) on professional fees to the Daughters of Charity for this service. Depaul USA also received a grant from the Daughters of Charity; the current year's commitment has been recognised of £326,000 (2019: £340,000).

Depaul Ireland received donations and funding of £25,000 (2019: £25,000) from the Society of Saint Vincent de Paul during the financial year.

The Depaul International Chief Executive Officer (up until July 2020), lan Brady, was also a trustee of London Housing Foundation (LHF) and is now LHF’s Executive Chair. During 2020 LHF made grants to Depaul International of £100,000 (2019: £100,000). In 2016 Depaul UK secured a loan arrangement with LHF. The outstanding balance at 31 December 2020 was £477,000 (2019: £583,000), see Note 24.

The note payable of $85,000 from the State Bank to Depaul USA was secured in 2019 by a certificate of deposit owned by the Chair of Depaul USA. The principal balance is $25,000/£18,000 (2019: $85,000/£65,000).

The aggregate of other donations received by the group from other related parties of Depaul International during 2020 was £426,000 (2019: £436,000). We are also grateful to the Trustees and Patron of Depaul International who made further donations of £40,000 (2019: £44,000).

Transactions between Depaul International and its subsidiaries

The Chairs of the subsidiaries were Trustees of Depaul International by right until February 2017. As part of the governance arrangements after this time, only the Chairs of Depaul USA, Depaul Ukraine and Depaul Ireland have been Trustees of Depaul International during 2020.

The financial statements eliminate the transactions within the Depaul Group. These transactions are listed below.

In 2020, the subsidiaries paid a total of £379,000 (2019: £388,000) in group subscriptions to Depaul International. This covers the running costs of the secretariat.

Depaul International raised funds and made grants to the subsidiaries amounting to £766,000 during 2020 (2019: £384,000)

In 2020, Depaul International paid Depaul UK £9k (2019: £9k) in management charges for Finance, HR and IT support.

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Notes to the financial statements

for the year ended 31 December 2020

34. Related party transactions (continued)

During 2020, the group worked collectively to design new websites for each subsidiary. The project was managed by Depaul International using contributions made by Depaul UK and Depaul Ireland of £26,000 and £21,000k respectively to the project in 2019. Depaul International contributed £20,000 to the project in 2020.

Depaul USA £140,000 (2019: £198,000) Depaul Ireland £nil (2019: £60,000) Depaul UK £20,000 (2019: Depaul UK were owed £127k by Depaul International)

Depaul Slovakia £nil (2019: £3k) Depaul UK £nil (2019: £127k) Depaul Ukraine £nil (2019: £4k) Depaul Ireland £49k (2019: £nil)

6301

Notes to the financial statements

for the year ended 31 December 2020

35. Prior period statement of funds

6401

Notes to the financial statements

for the year ended 31 December 2020

35. Prior period statement of funds (continued)

For explanations of funds please see Note 24.

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Trustees

REFERENCE AND ADMINISTRATIVE DETAILS

Chair: John Darley (1,2) Treasurer: Patrick Litton, FCA (1,2)

Appointed members from other branches of the Vincentian Family

Sister Margaret Barrett DC, representing the Daughters of Charity of Saint Vincent de Paul Rev. Aidan Rooney (appointed June 2019) representing the Congregation of the Mission Adrian Abel, representing the Society of Saint Vincent de Paul

Appointed Chairs from national subsidiaries

Father Vitaliy Novak CM, Depaul Ukraine, representing Depaul subsidiaries

Kay Gerhardt, Depaul USA, representing Depaul subsidiaries (retired May 2020)

John Murphy, Depaul Ireland, representing Depaul subsidiaries (appointed April 2020)

Independent members

Dame Louise Casey CB (2) (resigned May 2020) Andrew Clark (1) (appointed October 2019) Patricia Jones (resigned January 2020) Heidi Kruitwagen (1,2,3)

Finance committee members who are not Trustees of Depaul International

Matthew McKenna (1) Timothy Haigh (1)

1 Member of Finance and Fundraising Committee

2 Member of Remuneration Committee

3 Director of Depaul Group Trading

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REFERENCE AND ADMINISTRATIVE DETAILS

Company registered 5245818 number Charity registered 1107385 number Registered and St Vincent's Centre, Carlisle Place London, SW1P 1NL principal office Company secretary Hannah Bodek, FCA (from April 2020) Mark McGreevy OBE (until April 2020) Group Chief Executive Mark McGreevy OBE Officer Depaul International Mark McGreevy, OBE, Group Chief Executive Officer key management Ian Brady, Depaul International Chief Executive Officer (until personnel August 2020) Hannah Bodek FCA, Group Finance and Resources Director (from September 2019) Anja Bohnsack, Director of Operations (from August 2020) Jason Eades, Director of Fundraising (from April 2021) Independent Auditor Crowe U.K. LLP, 55 Ludgate Hill, London, EC4M 7JW Bankers Barclays Bank PLC, 1 Churchill Place London, E14 5HP Solicitors Freshfields Bruckhaus Deringer, 65 Fleet Street, London, EC4Y 1HS We are grateful to Freshfields for their pro bono support. Russell Cooke LLP, 2 Putney Hill, London, SW15 6AB

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