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2021-12-31-accounts

Att.4 Draft TAR and Financial Statements 2021

Depaul International Trustees’ Annual Report and Financial Statements

For the year ending 31 December 2021

Depaul International Trustees’ Annual Report and Financial Statements 2021

CONTENTS

Statement of the Chair and Group Chief Executive 1
Trustees' report (incorporating the Group Strategic Report) 2
Independent auditor's report 18
Consolidated statement of financial activities 21
Consolidated balance sheet 22
Charity balance sheet 23
Consolidated statement of cash flows 24
Notes to the financial statements 25
Reference and administrative details of the charity, its trustees and advisers 52

Depaul International Trustees’ Annual Report and Financial Statements 2021

STATEMENT OF THE CHAIR AND PRESIDENT

As we prepare this annual report for 2021, the war in Ukraine is now in its fourth month. The brutal invasion of Ukraine had an immediate and all-encompassing impact on the Depaul Group. Depaul has worked in Ukraine since 2007, with shelters for homeless people in Kharkiv, Odesa and Kyiv. At the outbreak of the war, these projects were quickly transformed to become centres for the distribution of humanitarian aid, with many homeless people working to support the distribution of food and medical supplies. The rapid response from our supporters and funders was overwhelming, with more than £2 million raised in the first month; and generous donations continue to support our work in Ukraine.

Depaul is one of the very few international agencies with both a significant presence in Ukraine, and with existing connections across the border, to the Depaul subsidiary in neighbouring Slovakia. This situation presented both the privilege and the responsibility to assume a leading role in the care for those impacted by war. The Depaul Ukraine Humanitarian Response project currently delivers some 100 tonnes per week of food, medicines and supplies to those in greatest need in the most devastated towns and villages. Funding is provided from the UK DEC (Disasters and Emergency Committee) channelled and additionally supported by the Catholic International agency, CAFOD. Our subsidiary, Depaul Ukraine is at the heart of this project, with close involvement of staff from Depaul Slovakia and Depaul International, and with further support and expertise from subsidiaries across the Depaul Group.

The provision of humanitarian support is a new area of activity for Depaul. We are extremely fortunate in that we had welcomed Matthew Carter as the new Group CEO of Depaul International in late 2021. Matthew has over 30 years of experience in the field of humanitarian aid. His leadership and knowledge enabled rapid and effective implementation of the Ukraine humanitarian response.

While the outcome of the conflict remains uncertain, it is clear that Depaul will continue to play an important role in Ukraine, whether that be in continued provision of humanitarian aid or in the subsequent re-building programme, for many years to come.

Depaul International (DPI) is the parent organisation of a global family of charities working with homeless and marginalised people, currently providing services in seven countries: Croatia, France, Ireland, Slovakia, Ukraine, UK, and the USA. The Depaul Group also works in strategic partnership with two key international organisations: the Vincentian Family Homeless Alliance (FHA) and the Ruff Institute of Global Homelessness (IGH) based in Chicago.

Our work during 2021 was again overshadowed by the COVID-19 pandemic, and the Depaul subsidiaries continued to adapt and innovate to provide care and support for homeless people threatened by the disease. Despite the restrictions, during the past year over 21,500 people received direct support from Depaul, while the FHA “13 Houses Campaign” marked real progress in its goal to house 10,000 people by 2023 (currently approaching 8,000). IGH continued to work with the UN to bring the issue of homelessness as a focus of international development, while maintaining drive on the Vanguard Cities programme to tackle homeless in key metropolitan areas.

The short to medium term challenges for the Depaul Group are clear: to sustain the humanitarian work in Ukraine for as long as necessary while simultaneously maintaining and improving support for people who are homeless across the world. In these tasks, we have huge appreciation for the tremendous work of our staff, volunteers and supporters in very many countries. And as ever, we are indebted to the generous contributions of our funders, and the welcome collaboration and support from government agencies and partners.

John C Darley Chair

Mark McGreevy OBE President of the Depaul Group

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Depaul International Trustees’ Annual Report and Financial Statements 2021

TRUSTEES' REPORT AND 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 Depaul Group) for the year ended 31 December 2021 which are also prepared to meet the requirements for a Directors’ Report and accounts for Companies Act purposes.

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 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).

AIMS, BUSINESS MODEL AND STRATEGY

Our vision, mission and values

The Depaul Group 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

• Celebrating 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.

• Putting 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. Taking risks in working with marginalised groups and people with challenging behaviour.

• Taking 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.

• Believing 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.

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Depaul International Trustees’ Annual Report and Financial Statements 2021

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.

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 2021, 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 (IGH) 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 and Depaul International has been asked to provide management and governance to progress its work.

Our Business Model and Strategies for Achieving Objectives

We operate through our seven local subsidiaries, full details of which are set out at Note 32, which deliver mission-advancing activities in their respective countries.

In 2021, the Depaul Group approved its Group Strategic Framework 2021-2023 and started with its implementation. It builds on the progress made during the last strategic cycle and is built around five core goals:

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Depaul International Trustees’ Annual Report and Financial Statements 2021

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.

PRINCIPAL ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE

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 fulfils 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 beneficiaries 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 2021 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?

2021 continued to be marked by waves of Covid-19. The pandemic not only impacted on our services, but – more importantly – on our clients who had to cope with the reality of income opportunities becoming scarcer as economies felt the impact of two years of intermittent restrictions. Despite the challenges, our subsidiaries continued to adapt to the ever-changing environment to ensure that 21,500 (2020: 23,500) clients had access to vital services.

In Slovakia, the teams spent January responding to their largest Covid-19 outbreak whilst Depaul UK and Depaul Ireland experienced their most intense period of restrictions – some of which were maintained well into 2022. Whilst Depaul Ukraine and Depaul Croatia did not experience the same level of government restrictions, their services were, at times, heavily affected. For example, the team in Croatia had to manage weeks with limited resources when several core staff members had to isolate with Covid-19. Nonetheless, they were able to keep their services open and provide a safe space for the people that needed them most.

21,500 clients supported

640,000 bed nights available

As a homelessness organisation, we have a focus on providing accommodation and resettlement . In 2021, we made over 640,000 bed nights available (2020: 630,796) to those who have no place to call home.

Depaul UK further strengthened its rough sleeper provision and now operates well established services in London and Manchester. These services are the result of the Covid-19 pandemic and highlighted the organisations ability to respond to urgent need, rapidly build expertise, and subsequently fill gaps in service provision.

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Depaul International Trustees’ Annual Report and Financial Statements 2021

Depaul USA also saw a period of growth as they increased the number of beds across a range of projects: the Rapid Rehousing Programme in Philadelphia added 40 beds; the DAX programme for housing insecure students in New York City added 10 beds; the Rapid Rehousing for Chronically Homeless Individuals in New Orleans added 5 beds; 40 new and the Affordable Housing Programme in Philadelphia increased their beds DAX beds by a further three.

At the end of 2021, the Society of St. Vincent de Paul transferred the management of a number of their homeless services to Depaul Ireland. This increased Depaul Ireland's bed capacity from 584 to 951 across the Republic of Ireland and Northern Ireland. Depaul Ireland is now represented in 14 counties across the island of Ireland, with a presence in all provinces of the country.

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. All throughout the pandemic, these services were crucial to allow vulnerable people continued access to support services.

In 2021, Depaul Slovakia continued with its planned expansion of their outreach service. Additionally, their emergency day centre St Elizabeth resumed full operations after being affected by Covid-19 restrictions. As a result, Depaul Slovakia saw an increase of 21% in visits to these services from the previous year.

Depaul France expanded its innovative mobile shower service, the Mobil’douche, to additional boroughs in Paris and commenced operations in Avignon in the South of France. At the end of the year, the service was awarded the Cognacq Jay foundation prize for its important work serving rough sleepers.

As a Group, we also acknowledge that our work with and for people who are homeless needs to be holistic and requires us to engage across other areas , too. Award In Ukraine, for example, the innovative prisons pathway established Motivation winning Centres – a service that brings together inspirational speakers across various areas of interest (such as housing, employment, legal rights) so ex-offenders have services a space to address the issues they experience in a safe and encouraging environment.

Depaul Croatia continued to develop Hagiotherapy - a service that supports clients by looking at the problems they experience holistically. It is open to all clients who feel they would benefit from approaches that include a spiritual component and has received very positive feedback.

743,000 meals provided

Across all areas, the Depaul Group helped 21,500 people in 2021 and prevented hunger and malnutrition by providing over 757,000 meals to men, women and children across our varied services.

The Depaul Group also continued to work closely with its partner initiatives. The Ruff Institute of Global Homelessness expanded its advocacy efforts at the United Nations by signing a Memorandum of Understanding with UN-Habitat to raise awareness of homelessness within the UN ecosystem, provide technical assistance and capacity building to Member States, and plan for better global homeless data collection. The Depaul subsidiaries are preparing to support the data collection in their respective countries with the view to provide better insights into the scale of homelessness and needed services.

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Depaul International Trustees’ Annual Report and Financial Statements 2021

The FHA has reached 74% of its goal to transform the lives of 10,000 people who are homeless. At the end of 2021, 74 projects were at some phase of development in 47 countries. The team also organised an emergency fundraising appeal to house survivors of the typhoons which hit the Philippines at the end of the year. The FHA raised $118,236 to buy 100 emergency shelter kits and build 13 typhoon-resilient houses.

The FHA also developed and agreed on its strategy for 2022-2024 – taking into consideration the learnings from previous years and feedback from the Vincentian Family. The new strategy is ambitious, seeking to establish 13 Houses projects in 100 countries by the end of 2024; support advocacy efforts at local and global level; and develop strategies to effectively spotlight expertise and facilitate developments at grassroots level – to name but a few.

OUR PROGRESS AGAINST TARGETS

In 2021, the Depaul Group approved its Group Strategic Framework 2021-2023 and started the implementation of its ambitious objectives. Our efforts are focused around five core areas as outlined on page 5. All objectives are aimed at advancing our Mission of ending homelessness and changing the lives of those affected by it.

Goal One: Responses to homelessness. 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.

As ever, our service to people who are homeless and destitute remains at the core of everything we do as we strive to develop projects that meet the needs of those we are here to serve. Within this strategic cycle, the Group set itself the goal to respond swiftly to national emergencies that may create homelessness or increase the already existing vulnerability of people who are homeless. Our subsidiaries exceeded expectations in that regard as they developed and/or adapted services at incredible speed to respond to Covid-19.

Depaul International arranged to mobilise funds and expertise to develop and expand these emergency response services and thus facilitated knowledge exchange across the entire Group throughout the pandemic. The team also helped to mobilise over £250,000 to support subsidiaries and DPI maintain and expand operation throughout Covid-19.

The Depaul Group also set itself the goal of achieving average annual occupancy levels of between 80-85% across all of our emergency shelters; with the percentage taking seasonality and varying referral pathways into consideration. In 2021, this goal was missed with average occupancy at 76.5%. This is due to Covid-19 as many services could only make a lower number of beds available to ensure social distancing. Furthermore, in Slovakia, initially all clients that tested positive for the virus were referred to the cities isolation units, resulting in lower client numbers. Only once the isolation units of the city were filled, did clients with Covid-19 start to be placed within Depaul Slovakia’s isolation units.

77% occupancy rate

In order to support the development of supported and permanent housing models, Depaul International organized a Housing Forum to discuss Housing First and its applicability and adaptability across different Depaul environments. These Housing Forums will now be organized regularly to ensure we, as a Group, focus on the development of sustainable housing options that meet the diverse needs of our client group.

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

Within our Vincentian heritage lies an inherent commitment to making those at the margins of society heard and seen; as well as the ambition to involve all stakeholders in our communities in finding and providing solutions to homelessness. This heritage has led to a commitment of the

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Depaul International Trustees’ Annual Report and Financial Statements 2021

Depaul Group to support the building of a global advocacy movement that looks to define, measure and act to end street homelessness via the Institute of Global Homelessness.

In 2021, this took on more shape, as the IGH expanded its advocacy efforts at the United Nations by signing a Memorandum of Understanding with UN-Habitat to raise awareness of homelessness within the UN ecosystem, provide technical assistance and capacity building to Member States, and plan for better global homeless data collection. In December of 2021, the UN General Assembly passed its first-ever resolution on homelessness, which defines global homelessness and calls for data collection and harmonization – a major success and promising step into a future were homelessness is on the UN agenda.

Locally, Depaul Slovakia took strides in advocating for better service provision for people who are homeless. After over four years of lobbying efforts, the government finally approved an increase in their financial support for the night shelter of St Vincent de Paul from €120 per client per month to €250 per client per month – allowing the team to further expand the support their beneficiaries will receive.

Depaul Ukraine continued its efforts to ensure better reintegration of ex-offenders at risk of homelessness and, to that end, partnered with the newly established probation service in Kharkiv to develop Motivation Centres that would allow ex-offenders to hear and learn about relevant areas such as employment and accommodation via inspiring speakers and in a safe environment.

Depaul UK stepped into the provision of accommodation for rough sleepers with the onset of Covid-19. Since then, they positioned themselves exceptionally well as a trusted, skilled and proactive partner, resulting in Depaul UK securing a seat on the Government’s Rough Sleeping Advisory Panel – enhancing their capacity to influence the strategy to end rough sleeping and tackle homelessness.

Goal Three: Striving for excellence and continuous learning. We will continue to develop the structures, standards and resources of the Depaul Group in line with our commitment to excellence and continuous learning.

The Depaul Group delivers high-quality services in even the most challenging environments – what we do must be done well. Over the past strategic cycle, we developed a robust standards framework that spans all areas of organisational life – ensuring strong governance, accountability and leadership. Building on this, the Group is committed to further improve its practice through regular audits and the development of internal and external learning opportunities. We will strive to learn from sector and thought leaders, beneficiaries, our staff and volunteers and will actively welcome innovation.

To ensure strong governance and leadership, Depaul International carried out two Trustee induction sessions that explained the history and values of Depaul; highlighted the Group Agreement and Minimum Standards and provided a detailed overview of the Group structure and subsidiary services. The team further delivered five online inductions to staff members to ensure a broad understanding of our services across the world, our history and values.

Depaul USA followed up on its commitment to improve learning and data management across the organisation by participating in a 2-year programme by the Pew Charitable Trust to create and nurture an organisational learning culture. This programme culminated in a technology grant that allowed Depaul USA to purchase a new case management database – allowing for the tracking of outputs and outcomes in real time.

Depaul France welcomed two staff members of Depaul UK to help them learn more about valuesaligned rough sleeping provision. This visit was the result of the express commitment of the Depaul

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Depaul International Trustees’ Annual Report and Financial Statements 2021

Group to facilitate more international global exchange to ensure each subsidiary benefits from the expertise available across the Depaul Group.

Goal Four: Increasing impact and reach. We will seek ways to increase the impact and reach of our work, both locally and globally.

Our vision of “a society in which everyone, across the world, has a place to call home and a stake in their community” encapsulates our ambition to work together and harness the work of the Depaul Group as an agent for change in the area of homelessness.

As we seek to increase our impact and reach both locally and globally, we need to raise the funds necessary to support this ambition. As a Group, we are committed to assist and develop fundraising so we can sustain and further develop our work. To this end, we set ourselves the goal to continually increase total income between 2021 and 2023 – a goal that we achieved by raising £50,034,000 as compared to £44,206,000 in 2020.

As a Group we are mindful that our fundraising efforts need to be efficient and effective. There is no point in raising more money if we are spending even more raising those funds. In tandem with our goal to increase our income year on year we also set a target to improve our return on investment in relation to fundraising year on year. This goal was achieved with an increase in our return on investment from 3.1 to 3.9. This means that for every £1 we spend on fundraising, we raise £3.90.

Goal Five: Global engagement. We will take an active role in addressing homelessness at a global level by supporting other Depaul subsidiaries, international partners, global initiatives and advocacy efforts.

For this strategic cycle, the Depaul Group introduced a new goal that reflects the global ambition of the Depaul Group and each subsidiaries’ role in contributing to this global mission beyond activities within their own countries. This goal highlights that homelessness is a global issue and should be recognised for a scale and complexity that goes beyond borders.

Depaul International facilitated a range of exchange visits as well as webinars and forums to ensure that all subsidiaries could tap into the expertise available across the Group. Depaul Ireland delivered a webinar to staff members of Depaul Ukraine to share their experience of working with clients with complex needs and alcohol misuse issues. Subsequently, the team in Ukraine was keen to trial

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Depaul International Trustees’ Annual Report and Financial Statements 2021

housing clients with more complex support needs in their shelters and implement a harm reduction approach.

Depaul Croatia welcomed staff from Depaul UK and Depaul USA to learn about their services, but also to benefit from their knowledge on case management and the development of successful social enterprise projects that can aid the re-integration of people who are homeless as well as the financial sustainability of the organisation.

The commitment to looking beyond one’s own borders was also lived in Depaul UK and Depaul Ireland. Depaul UK continued with the implementation of its Acasa project – a service that supports Romanian rough sleepers in London to return to their home country if they wish to do so. Depaul Ireland further strengthened its commitment to supporting people who are refugees and asylum seekers by entering into discussions with the main Government housing agency about the role that Depaul Housing could have in both the provision of housing and support to people who seek asylum in Ireland.

Our global focus on homelessness was also carried forward by the Famvin Homeless Alliance. Not only did they welcome 18 new projects to the 13 Houses Campaign; the team also delivered international webinars and continued planning for its global 2022 Conference on Refugees, Internally Displaced Persons, and Victims of Human Trafficking.

OUR PLANS FOR THE FUTURE

The next year will be a period of strategic focus for Depaul International as we continue to reflect on the challenges and lessons learnt from our response to the war in Ukraine – a war that saw all subsidiaries, staff members, volunteers, and supporters come together to ensure we are able to respond to the desperate needs in Ukraine.

As a Group, we are looking to enhance our capacity to communicate globally, ensure effective links across all subsidiaries and partners, and hence strengthen our public and international visibility. This is more important than ever as we see the on-going increase in global poverty and homelessness – a challenge the Depaul Group is well placed to address by becoming a global voice.

We also seek to build on the fundraising successes over the past years; successes that were made possible by subsidiaries coming together to increase their impact and reach. As such, collaboration will be at the heart of our work across countries over the next year – bearing testimony to our strategic commitment of looking beyond our own borders in pursuit of opportunities to support more people more effectively.

Within subsidiaries, the next year promises to be one of exciting growth. Depaul USA is on track to open a day centre in Los Angeles in partnership with the Daughters of Charity; Depaul Croatia and France are exploring opportunities to open their first housing projects whilst Depaul Slovakia aims to strengthen its Housing First service. Depaul Ireland took into management seven properties of the Society of St Vincent de Paul at the end of 2021 and will incorporate them fully into Depaul Ireland this year – ensuring that Vincentian values remain at the core of these services. Depaul UK will likely see a further growth of its rough sleeping provision – solidifying the impact they have had in this area throughout the pandemic. For Depaul Ukraine, the year will be focused on their humanitarian response to the war so they can continue to serve the most vulnerable; as well as the incorporation of these new, large-scale services into their existing organisational structures.

In the time ahead, it will be important that DPI can once again travel to accompany and support subsidiaries. However, we are also keen to learn from the past two years on how we can manage our global travel, reduce our carbon footprint and our impact on global warming.

We are both challenged and excited by the year ahead and look forward to working with our staff, volunteers and supporters towards our vision of a society in which everyone, across the world, has a place to call home and a stake in their community.

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Depaul International Trustees’ Annual Report and Financial Statements 2021

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 Board of Trustees comprises a maximum of 12 members with Trustee appointments defined as follows:

The Board of Trustees comprises a membership of up to 12 with 9 places taken in 2021 (2020: 9). Trustees are normally elected for a period of three years and may be re-elected for two further three-year periods.

In 2021, 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.

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Depaul International Trustees’ Annual Report and Financial Statements 2021

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.

Sub-committees

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.

The Nominations Committee provides oversight with regard to the structure, composition and effectiveness of the Depaul International Board, and its associated committees. It has specific responsibility for the succession planning, recruitment and appointment of Trustees. The committee comprises a maximum of 5 members, all of whom are Trustees of Depaul International and are appointed by the Board.

Arrangements for setting the pay and remuneration of key management personnel

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 on the website int.depaulcharity.org in the governance section.

Management - Organisational Structure and Decision Making

In order to ensure that Depaul International is managed efficiently and effectively, the Trustees have delegated a range of day-to-day 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 2019, 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.

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Depaul International Trustees’ Annual Report and Financial Statements 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.

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:

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 our volunteers.

Our volunteer capacity was, understandably, significantly impacted by the coronavirus pandemic. In 2021 over 716 volunteers (2020: 636) contributed nearly 29,000 hours (2020: 52,000) 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. 2,365 volunteers Depaul Ireland holds Investors in Volunteers awards, the first organisation to achieve this in both the Republic of Ireland and Northern Ireland.

Information on Fundraising Practices

Depaul International and Depaul UK are both voluntary 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 any agencies that 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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Depaul International Trustees’ Annual Report and Financial Statements 2021

FINANCIAL REVIEW

Review of Results

Despite the ongoing challenges of the pandemic continuing throughout 2021, the Depaul Group has had a successful year financially. Our loyal supporters continue to provide generous donations that ensure our vital work can continue alongside the contracted services that are funded by governments.

The Depaul Group finished 2021 with a surplus of £4.0m (2020: £2.5m). This incredible result is largely the outcome of successful fundraising efforts across the group, but most notably in Depaul USA. Depaul USA launched a capital appeal during 2021, the funds of which will be used in 2022 to fund the creation of exciting new projects in Macon and Los Angeles. The results for the year to 31 December 2021 are set out in the Consolidated Statement of Financial Activities (SOFA) on page 24 and the financial position at 31 December 2021 is shown in the Balance Sheets on pages 25 and 26. An analysis of the results by organisation can be found at Note 32.

Once again the group has achieved a significant growth in income with total income of £50.0m (2020: £44.2m). This is an increase of 13% when compared to the previous year. Our largest source of income is contractual funding, 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 £3.7m to £35.3m (2020: £31.6m). In the second half of the 13% income year, Depaul Ireland successfully agreed the transfer of seven regional services from the SVP, driving a great deal of this growth. Alongside the income, Depaul growth Ireland has welcomed 100 new members of staff who transferred into the group. Income from donations and legacies also increased across the Group in 2021 (15% increase to £10.8m). Fundraising events and trading activity were continued to be impacted by the restrictions around the globe and generated £0.5m (2020: £0.5m) for the Group. Other income of £3.4m (2020: £2.8m) is made up of income received by Depaul UK from lotteries draws and the forgiveness of a covid support loan provided to Depaul USA in 2020.

Depaul International raised total income of £1.5m in the year ended 31 December 2021 (2020: £2.2m) through voluntary sources and subscriptions. Total expenditure for the year was £1.4m (2020: £1.7m). The reduction in both income and expenditure reflects the emergency fundraising appeal that took place in 2020 with the onset of the pandemic that was not repeated in 2021.

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 10% to £45.8m (2020: £41.7m).

At the end of the year the Group held cash of £14.5m (2020: £13.1m), an increase of £1.4m. 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.

Performance of material fundraising against objectives set

The Boards of DPI and the Depaul Group set fundraising targets of £10.9m for donations and income from events for 2021 (2020: Target £8.5m; achieved £9.7m). This ambitious target was exceeded by 4% with total fundraised income of £11.3m in 2021, despite the ongoing challenges arising from the pandemic. Our fundraising teams continued to build on the momentum created in 2020 when we 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.

Target £10.9m Actual £11.3m

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Depaul International Trustees’ Annual Report and Financial Statements 2021

Key Financial Performance Indicators

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

Subsidiaries set their own targets because each of them operates in different environments, providing different services with varying resources. Some subsidiaries are of a size that they do not have separate fundraising and/or support functions/staff and as such reporting of related KPIs would not provide meaningful data.

The charts below show a comparison of the fundraising ratio and support cost KPIs across the group that were reported for 2021. As highlighted above, Depaul USA had a highly successful fundraising campaign. One of the results of this was an impressive fundraising ratio that dwarfed those of the other subsidiaries. The fundraising ratios ranged from 2.4 to 39.7, all of which were within expectations.

There is much less variation when considering the support cost KPI that subsidiaries report. This KPI reports the support costs as a percentage of total costs. In 2021, Depaul USA operating at a lean 9% whilst Depaul Northern Ireland and Depaul UK reported that 18% of their costs were support costs.

----- Start of picture text -----
Fundraising ratio (income raised/costs) Support costs as % of total costs
40 20
30 15
20 10
10 5
0 0
UK ROI N. USA Slovakia France DPI UK ROI N. USA Slovakia Ukraine
Ireland Ireland
----- End of picture text -----

Investment Policy and Performance

During 2021, Depaul International invested our designated sustainability fund into a pooled charity investment fund managed by CCLA. A new investment policy was approved by the Board, the key features of which are:

At the end of 2021, having been invested for five months, our investments had increased in value by 2%.

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Depaul International Trustees’ Annual Report and Financial Statements 2021

Reserves

At the 31 December 2021 the total reserves of the group were £22.2m, of which £6.0m are restricted and £16.1m 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:

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 invested in fixed assets net of any associated borrowing, to allow the organisation to work effectively. They are kept separately from the other funds because it is not possible to use them elsewhere within the 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 2021 that level should be at least £190,000. The unrestricted funds held by the Group comprised free reserves of £450,000 held by Depaul International, designated funds held by Depaul International of £320,000, Group capital funds of £3,924,000 and unrestricted funds held by subsidiaries of £12,168,000 (see Note 23 for more details). At 31 December 2021, Depaul International (charity only) had free reserves £260,000 above our minimum target level. The Trustees have agreed some additional expenditure in 2022-2023 that will reduce our free reserves 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 and financial stability. As well as monitoring through quarterly Key Financial Performance Indicators, all subsidiary budgets are reviewed and ratified by Depaul International. In addition to income and expenditure, the budget packs include analysis between funds, reserves ratios, and financial plans for three years.

17

Depaul International Trustees’ Annual Report and Financial Statements 2021

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.

Depaul International is expecting a surplus in 2022, which has arisen from our fundraising appeal for Ukraine and will be spent in 2023. Across the Depaul Group subsidiaries continue to thrive having adapted well to the pandemic. Some are planning for small deficits in 2022 which are funded from adequate reserves built during 2021 and before.

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:

Since the invasion of Ukraine in February 2022, the risks facing our staff and service users locally have increased considerably. The team has been expanded to monitor and manage this increased risk and includes a security expert and staff with extensive emergency humanitarian aid experience, including safeguarding. Additional training has been provided to staff across subsidiaries who are involved with our work in Ukraine.

Trustees have recognised the hard work of staff, with appropriate rewards where affordable. Benchmarking exercises have also taken place or are planned in some subsidiaries to ensure we are rewarding staff appropriately. Wellbeing sessions have also been arranged for staff.

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Depaul International Trustees’ Annual Report and Financial Statements 2021

The probability of this risk is increased by the rapid expansion of services in a number of subsidiaries. This is particularly true for Depaul Ukraine, Depaul Slovakia and Depaul International who have all been involved in the development and delivery of our humanitarian aid programme in Ukraine. Trustees have ensured that services are adequately resourced and funded to ensure a consistent and high quality is achieved.

Trustee indemnities

Trustees of Depaul International, Depaul UK, Depaul USA and Depaul Ireland are covered by professional indemnity insurance.

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Depaul International Trustees’ Annual Report and Financial Statements 2021

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 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.

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.

Disclosure of information to the auditor

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

This report, including the Strategic Report was approved by the Trustees, who are also the Directors, on 27 September 2022 and signed on their behalf by:

John Darley, Chair

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Depaul International Trustees’ Annual Report and Financial Statements 2021

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DEPAUL INTERNATIONAL

Opinion

We have audited the financial statements of Depaul International ‘the charitable company’ and its subsidiaries (‘the group’) for the year ended 31 December 2021 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 of opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. 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.

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. 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.

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Depaul International Trustees’ Annual Report and Financial Statements 2021

Opinions on other matters prescribed by Companies Act 2006

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

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.

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:

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement set out on page 18, 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 non-compliance 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

22

Depaul International Trustees’ Annual Report and Financial Statements 2021

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.

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 noncompliance with all laws and regulations.

Use of our audit 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: 29 September 2022

23

Depaul International Trustees’ Annual Report and Financial Statements 2021

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

(incorporating an income and expenditure account)

FOR THE YEAR ENDING 31 DECEMBER 2021

Restricted
Unrestricted
Total
Restricted
Unrestricted
Total
funds

funds
funds funds

funds
funds
2021
2021
2021
2020
2020
2020
Note £'000
£'000
£'000
£'000
£'000
£'000
Income from:
Donations and legacies 3 5,080
5,692
10,772		 3,352
5,992
9,344
Charitable activities
7		 21,561
13,736
35,297		 18,699
12,869
31,568
Other fundraising events
and trading activities		 4,5 46
485
531		 11
457
468
Investments 6 -
10
10		 0
10
10
Other income 8 -
3,424
3,424		 21
2,795
2,816
Total income 26,687
23,347
50,034
22,083
22,123
44,206
Expenditure on:
Raising funds:
Voluntary income 9,11 35
2,738
2,773		 16
3,068
3,084
Fundraising trading 9 85
85		 79
79
Charitable activities 10,11 24,337
18,649
42,986
21,564
16,951
38,515
Total expenditure 24,372
21,472
45,844
21,580
20,098
41,678
Net income before
investment gains
2,315
1,875
4,190
503
2,025
2,528
Netgains on investments -
-
-
-
1
1
Net income before
transfers
2,315
1,875
4,190
503
2,026
2,529
Transfers between funds (31) 31
0
(320)		 320
0
Net income before
other recognised
gains/(losses)
2,284
1,906
4,190
183
2,346
2,529
Currency translation
gains/(losses)		 76
(278)
(202)		 (114)
127
13
Net movement in funds 2,360
1,628
3,988
69
2,473
2,542
Reconciliation of funds:
Total funds brought
forward		 23, 34
3,662
14,517
18,179
3,593
12,044
15,637
Total funds carried
forward		 23, 34 6,022
16,145
22,167
3,662
14,517
18,179

The notes on pages 28 to 52 form part of these financial statements.

24

Depaul International Trustees’ Annual Report and Financial Statements 2021

CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2021

Note
FIXED ASSETS
Tangible assets
16
Investments
17
Programme related investments
18
CURRENT ASSETS
Stocks
19
Debtors: amounts falling due after more than one
year
20
Debtors: amounts falling due within one year
20
Cash at bank and in hand
CREDITORS:amounts falling due within one year
21
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS: amounts falling due after more than
one year
22
NET ASSETS
GROUP FUNDS
Restricted funds
23,34
Unrestricted funds
23,34
TOTAL FUNDS
£'000
6
436
4,870
14,511		 2021
£'000
14,098
347
47
£'000
32
8
3,459
13,136		 2020
£'000
11,550
93
47
14,492
14,149		 11,690
11,625
19,823
(5,674)		 16,635
(5,010)
28,641 23,315
(6,474) (5,136)
22,167 18,179
6,022
16,145		 3,662
14,517
22,167 18,179

The financial statements were approved and authorised for issue by the Trustees on 27 September 2022 and signed on their behalf, by:

John Darley, Chair

The notes on pages 28 to 52 form part of these financial statements.

25

Depaul International Trustees’ Annual Report and Financial Statements 2021

CHARITY BALANCE SHEET AS AT 31 DECEMBER 2021

2021
 2020
Note
£'000		 £'000
£'000		 £'000
FIXED ASSETS
Investments
17
254		 -
CURRENT ASSETS
Debtors
20
200		 223
Cash at bank
886		 1,056
1,340 1,279
CREDITORS:amounts falling due
within one year
21
(92)		 (104)
NET CURRENT ASSETS 1,248 1,175
NET ASSETS 1,248 1,175
FUNDS
Restricted funds
23,34		 479 548
Unrestricted funds
23,34		 769 627
TOTAL FUNDS 1,248 1,175

The financial statements were approved and authorised for issue by the Trustees on 27 September 2022 and signed on their behalf, by:

John Darley, Chair

The notes on pages 28 to 52 form part of these financial statements.

26

Depaul International Trustees’ Annual Report and Financial Statements 2021

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021

Note 2021
2020
£’000
£’000
Cash flows from operating activities 3,499
3,962
10
10
(3,299)
(3,669)
-
160
(254)
-
Net cash provided by operating activities
25
Cash flows from investing activities
Dividends, interest and rents from investments
Purchase of tangible fixed assets
Sale of investment assets
Purchase of investment assets
Net cash used in investing activities (3,543)
(3,499)
Cash flows from financing activities
Increase in borrowings		 1,371
2,680
Net cash provided by financing activities 1,371
2,680
1,327
3,143
Change in cash and cash equivalents in the year
Foreign exchange translation adjustment 48
105
13,136
9,888
Cash and cash equivalents brought forward
14,511
13,136
Cash and cash equivalents carried forward
27

The notes on pages 28 to 52 form part of these financial statements.

27

Depaul International Trustees’ Annual Report and Financial Statements 2021

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

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 61. 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 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 subsidiaries 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.

1.3 Basis of consolidation

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

1.4 Going concern

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.

Depaul International is expecting a surplus in 2022, which has arisen from our fundraising appeal for Ukraine and will be spent in 2023. Across the Depaul Group subsidiaries continue to thrive having adapted well to the pandemic. Some are planning for small deficits in 2022 which are funded from adequate reserves built during 2021 and before.

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.

1.5 Income

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.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware

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Depaul International Trustees’ Annual Report and Financial Statements 2021

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.

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.

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

29

Depaul International Trustees’ Annual Report and Financial Statements 2021

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.

All expenditure is inclusive of irrecoverable VAT.

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.

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. Tangible fixed assets and depreciation

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

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.

30

Depaul International Trustees’ Annual Report and Financial Statements 2021

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:

Freehold property - 50 to 100 years straight line Long Term Leasehold Property - lesser of life of lease or their useful life Short Term Leasehold Property - 10 years Motor vehicles - 3-4 years Fixtures & fittings - 2-5 years Computer equipment - 2-5 years Land - Not depreciated

1.11 Operating leases

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

1.12 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.

1.13 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.

1.14 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.

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.

1.15 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.

31

Depaul International Trustees’ Annual Report and Financial Statements 2021

1.16 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 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.

1.17 Pensions

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.

1.18 Significant estimates and judgments

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 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.

32

Depaul International Trustees’ Annual Report and Financial Statements 2021

2. Financial performance of the Charity

The consolidated SOFA includes the results of the charity's wholly owned subsidiaries which provide a wide range of services for homeless clients and people at risk of homelessness. Further details of these services are provided in the Trustees’ Annual Report. The summary financial performance of the charity alone is:

Grants and donations
Famvin Homeless Alliance grant
Group subscriptions from subsidiaries
Event income
Other income
Total income
Expenditure on charitable activities
Expenditure on raising funds
Foreign exchange differences
Total expenditure
Net income		 2021
2020
£'000
£'000
656
1,347
401
426
394
397
-
25
-
10
1,451
2,205
1,303
1,602
87
52
2
20
1,392
1,674
59
531

3. Income from donations and legacies

Restricted
Funds
Unrestricted
Funds
Total
Funds
Restricted
Funds
Unrestricted
Funds
Total
Funds
2021
2021
2021
2020
2020
2020
£'000
£'000
£'000
£'000
£'000
£'000
Donations from individuals
1,643
2,690
4,333
484
3,230
3,714
Churches, SVP, schools
and other societies		 488
1,004
1,492
462
837
1,299
FHA Vincentian family
grant		 401
-
401
426
-
426
Corporate donations 252
474
726
210
416
626
Grants 1,957
852
2,809
1,762
983
2,745
Legacies -
391
391
1
131
132
Gifts in Kind 339
281
620
7
395
402
Total donations and
legacies		 5,080
5,692
10,772
3,352
5,992
9,344

33

Depaul International Trustees’ Annual Report and Financial Statements 2021

4. Fundraising events income

Restricted
Unrestricted
Total
Restricted
Total
Restricted
Unrestricted
Total
Funds
Funds
Funds		 Funds Funds Funds
2021
2021
2021		 2020 2020 2020
£'000
£'000
£'000		 £'000 £'000 £'000
Events 46
397
443		 11 394
405

5. Trading activities

Unrestricted
Funds		 Total Funds Unrestricted
Funds
Total Funds
2021 2021 2020
2020
£'000 £'000 £'000
£'000
Charity trading income
Sales income 88 88 63
63
Charity trading costs
Runningexpenses (85) (85) (79)
(79)
Net income /(expenditure) 3 3 (16)
(16)

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

6. Investment income

Unrestricted
& Total
Funds		 Unrestricted
& Total
Funds
2021 2020
£'000 £'000
Investment income - local listed cash investments 4 4
Investment income - local cash 6 6
Total 10 10

34

Depaul International Trustees’ Annual Report and Financial Statements 2021

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

Restricted
Funds

Unrestricted
Funds
Total
Funds		 Restricted
Funds		 Unrestricted
Funds
Total
Funds
2020
2020
£'000
£'000

1,355
17,290

5,508
5,841

5,376
7,470

630
967

12,869
31,568
2021
2021
2021		 2020
£'000
£'000
£'000		 £'000
Contracts for project
work		 17,990
1,749
19,739		 15,935
Rents & charges to
residents		 325
5,911
6,236		 333
Supporting people 3,238
5,767
9,005		 2,094
Other income 8
309
317		 337
Total income from
charitable activities		 21,561
13,736
35,297		 18,699

Contributions from the UK government included Supporting People contracts of £9.6m (2020: £7.9m). There are no unfunded commitments or unfulfilled conditions.

8. Other income

Restricted
Funds
Unrestricted
Funds
Total
Funds
Restricted
Funds
Unrestricted
Funds
Total
Funds
2021
2021
2021
2020
2020
2020
£'000
£'000
£'000
£'000
£'000
£'000
-
-
2,796
2,796
-
2,593
2,593
-
628
628
21
202
223
-
3,424
3,424
21
2,795
2,816
Lotteries
Other income
Total donations and
legacies

Depaul UK received funding of £2.8m during 2021 through Postcode Support Trust, a registered charity in Scotland (SC045861). Postcode Support Trust operates its own society lottery licensed and regulated by the Gambling Commission. In 2020, The People's Postcode Lottery was appointed as Depaul UK’s external lottery manager to run lotteries on our behalf and net proceeds of £2,593k was received from lottery draws.

9. Raising funds expenditure analysis

Direct staff and
volunteer costs
Other direct costs
Support and
governance costs
Total		 Fundraising
costs
Trading
TotalFundraising
costs
Trading
Total
2022
2021
2021
2020
2020
2020
£'000
£'000
£'000
£'000
£'000
£'000
1,238
72
1,310
1,342
50
1,392
1,185
13
1,198
1,438
29
1,467
350
-
350
304
-
304
2,773
85
2,858
3,084
79
3,163

35

Depaul International Trustees’ Annual Report and Financial Statements 2021

10. Charitable activities expenditure analysis

Accommodation
& Resettlement
Outreach &
Work in the
Community
Other
Total
2021
Total
2020
£'000
£'000
£'000
£'000
£'000
Direct staff and volunteer
costs		 21,026
3,667
495
25,188
23,149
Other direct costs 10,675
1,291
224
12,190
10,466
Support and governance
costs		 4,360
1,012
236
5,608
4,900
Total 36,061
5,970
955
42,986
38,515
Total 2020 31,196
6,314
1,005
38,515

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

Accommodation and Resettlement comprises expenditure on our shelters, hostels, hospices and moveon accommodation.

Outreach and Work in the Community covers the work in our day centres, visits to orphanages and prisons and family mediation work.

Other expenditure includes costs relating to our work in prisons, volunteering, training and developing new activities.

11. Support and governance costs

Fundraising
Costs
Accommodation
& Resettlement
Outreach &
work in the
community
Other
Charitable
Activities
Total
Costs
Total
Costs
2021
2021
2021
2021
2021
2020
£'000
£'000
£'000
£'000
£'000
£'000
243
3,206
673
89
4,211
3,796
107
1,154
339
147
1,747
1,408
Direct Staff and
Volunteer Costs
Other direct costs
Total 350
4,360
1,012
236
5,958
5,204
Total 2020 304
3,825
768
307
5,204

36

Depaul International Trustees’ Annual Report and Financial Statements 2021

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

Restricted
Funds		 Unrestricted
Funds
Total
Funds
Restricted
Funds		 Unrestricted
Funds
Total
Funds
2020
2020
£'000
£'000
98
111
11
11
2021 2021
2021
2020
£'000 £'000
£'000
£'000
Auditors'
remuneration		 17
87
104
13

22
22
-
Legal and other
governance costs		 -
Total 17 109
126
13		 109
122

During the year, no Depaul International trustees received reimbursement of expenses (2020: 3 trustees, £1,000). The costs of catering associated with Depaul International Board meetings amounted to £500 in 2021 (2020: nil).

12. Net income / (expenditure)

This is stated after charging:

Depreciation of Tangible Fixed Assets
- owned by the charitable Group
Operating Lease Rentals
Gains / (losses) on foreign exchange
Interest Receivable
13. Auditor's remuneration
Fees payable to the charity's auditor for the audit of the charity's
annual accounts (including VAT)
Fees payable to the subsidiaries' auditors in respect of:
The auditing of accounts of subsidiaries by the company's auditor including
network members
The auditing of accounts of subsidiaries by other auditors		 2021
2020
£'000
£'000
501
458
1,219
1,118
202
(13)
10
10
2021
2020
£’000
£’000
19
19
42
52
26
23

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 Group during the year was as follows:

Accommodation and Resettlement
Outreach and Work in the Community
Other Charitable activities
Cost of generating funds
Support		 2021
2020
No.
No.
679
666
138
139
8
7
35
48
101
95
961
955

37

Depaul International Trustees’ Annual Report and Financial Statements 2021

The number of higher paid employees was:

2021 2020
No. No.
In the band £60,001 - £70,000 5 4
In the band £70,001 - £80,000 2 3
In the band £80,001 - £90,000 2 1
In the band £90,001 - £100,000 3 3

The total amount of benefits received by the key management personnel of Depaul International is £321,000 (2020: £313,000). This includes £30,000 of employer’s national insurance payments (2020: £29,000). Details of the key management personnel can be found on page 53. 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 respect of 12 (2020: 8) of them. Total employer contributions to money purchase schemes in respect of such employees during the year amounted to £61,000 (2020: £44,000).

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:

Wages and salaries
Social security costs
Pension costs
Sub total
Other employee costs
Total		 2021
2020
£’000
£’000
23,383
22,063
2,460
2,326
689
675
26,532
25,064
2,106
1,127
28,638
26,191

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 14.

During the year £39,000 (2020: £26,684) was paid out in redundancy payments. All obligations in relation to redundancy are recognised in the year in which the redundancy 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.

38

Depaul International Trustees’ Annual Report and Financial Statements 2021

16. Tangible fixed assets

Group Cost
At 1 January 2021
Currency translation
differences
Additions
Disposals
At 31 December 2020
Depreciation
At 1 January 2021
Currency translation
differences
Charge for the year
Disposals
-
At 31 December 2021
Netbook value
At 31 December 2021
At 31 December 2020		 Freehold
property &
long
leasehold
Leasehold
improvements
Vehicles
Fixtures
& fittings
Equipment
Total
£’000
£’000
£’000
£’000
£’000
£’000
10,118
2,313
240
628
473
13,772
(132)
(87)
(6)
(2)
-
(227)
3,237
-
-
62
-
3,299
-
-
(1)
(45)
-
(46)
13,223
2,226
233
643
473
16,798
769
457
169
505
322
2,222
4
(18)
(5)
(2)
-
(21)
272
96
22
15
96
501
-
-
(2)
-
-
(2)
1,045
535
184
518
418
2,700
12,178
1,691
49
125
55
14,098
9,349
1,856
71
123
151
11,550

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 £1,620,000.

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 2021.

39

Depaul International Trustees’ Annual Report and Financial Statements 2021

17. Fixed Asset Investments

Group
Market Value
At 1 January 2021
Additions
Revaluations
At 31 December 2021
At 31 December 2020
Group Investments at market value comprise
Listed investments
Group listed fixed asset Investments		 2021
£'000
93
254
-
347
93
2021
£'000
347

Fixed assets investments of £254,000 are held by the charity (2020: nil).

The market value of the listed investments in the Group at 31 December 2021 was £347,000 (2020: £93,000).

18. Programme related investments

Group
Market Value
At 1 January 2021 and 31 December 2021
At 31 December 2020		 £'000
47
47

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 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

9. Stocks
Group Charity
2021 2020 2021 2020
£’000 £’000 £’000 £’000
Inventory 6 32 - -

40

Depaul International Trustees’ Annual Report and Financial Statements 2021

20. Debtors

20. Debtors
Group Charity
Due after more than one year 2021
2020		 2021
2020
£'000
£'000		 £'000
£'000
Trade debtors 6
8		 -
-
Prepayments and accrued
income		 430
-		 -
-
Total 436
8		 -
-
Group Charity
Due within one year 2021
2020		 2021
2020
£'000
£'000		 £'000
£'000
Trade debtors 12
-		 -
-
Amounts owed by group undertakings -
-		 118
160
82
63
-
-
-
-
Other debtors 735
529
Sundry debtors and
prepayments		 1,852
1,646
2,271
1,284
Government grants
receivable
Total 4,870
3,459		 200
223

21. Creditors: amounts falling due within one year

Group Charity
2021 2020 2021
2020
£'000 £'000 £'000
£'000
Loans / overdrafts 225 197 -
-
Trade creditors 1,378 1,321 14
6
35
49
-
10
-
-
43
39
Amounts owed to group undertakings - -
Other taxation and social security 767 684
Other creditors 14 4
Accruals/Deferred income 3,290 2,804
Total 5,674 5,010 92
104
Deferred income - Group 2021
2020
£’000
£’000
Deferred 974
975
649
581
Amounts released from previous years (209)
(595)
Currencytranslation differences -
13
Deferred income at 31 December 1,414
974

41

Depaul International Trustees’ Annual Report and Financial Statements 2021

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

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

22. Creditors: amounts falling due after more than one year
Group
2021
2020
£'000
£'000
6,426
5,083
48
53
Other loans
Trade creditors
Total 6,474
5,136

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:

Group
2021
2020
£'000
£'000
Less than 1 year 225
197
Between one and two years 259
288
Between two to five years 638
587
Over fiveyears 5,529
4,209
6,651
5,281

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 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 instalments 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 $2,080k (£1,788k) as long as the property is used as intended and in line with conditions specified in the loan agreement. The principle balance of the loan becomes repayable if the conditions are not met. As at 31 December 2021, all conditions have been met. This agreement included funding of approximately $147k (£109k) for developer fees.

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 proceeds of the loan were used for eligible expenditures such as payroll and other expenses described

42

Depaul International Trustees’ Annual Report and Financial Statements 2021

in the CARES Act. As such, the loan was approved as forgiven in its entirety in February 2021.

Depaul France - A note payable from the Daughters of Charity to Depaul France of up to €480,000 for the refurbishment of Périchaux 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 2021 was €190,000 (£159,000) (2020: £184,000). Agreement has been reached with the Daughters of Charity to repay the loan at €5,000 per quarter. In 2021, Depaul France agreed a revision to the payment schedule and repaid €10,000 during the year rather than the €20,000 due.

Depaul Housing Association a subsidiary of Depaul Ireland took out a loan with Clann Credo in 2020 for €146,000/£132,000. Variable interest is charged at 4.95% above the European Central Bank refinancing rate. The loan is repayable in monthly instalments. The balance outstanding at 31 December 2021 was €137,000/£118,000 (2020: £146,000).

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 instalments for each year of non-compliance. Further properties were purchased under this scheme in 2021 with additional funding of £2,163,000 provided. The total balance outstanding at 31 December 2021 was €5,002,000/£4,293,000 (2020: £2,265,000).

43

Depaul International Trustees’ Annual Report and Financial Statements 2021

23. Current year statement of funds

Designated funds
Depaul International
Website development
Ukraine
Charles Leeming^
Sustainability fund
Group - capital
UK capital
France capital
Slovakia capital
Slovakia liability
Ukraine
Group - general
UK
UK-DHS & Trading
Ireland
Slovakia
Ukraine
France
USA
Croatia
Sub total
General funds held at
DPI
Inter-Company
Transfers
Total Unrestricted
Funds
Restricted Funds
Depaul International:
Slovakia
Ukraine
Croatia
Ireland
France
UK
Porticus values
IGH
FHA
Sub-Total		 Designated funds
Depaul International
Website development
Ukraine
Charles Leeming^
Sustainability fund
Group - capital
UK capital
France capital
Slovakia capital
Slovakia liability
Ukraine
Group - general
UK
UK-DHS & Trading
Ireland
Slovakia
Ukraine
France
USA
Croatia
Sub total
General funds held at
DPI
Inter-Company
Transfers
Total Unrestricted
Funds
Restricted Funds
Depaul International:
Slovakia
Ukraine
Croatia
Ireland
France
UK
Porticus values
IGH
FHA
Sub-Total		 Brought
forward
Income Expenditure
Transfers
in/out
Gains/
losses
Carried
forward
£’000
£’000
£’000
£’000
£’000
£’000
11
-
(14)
3
-
-
35
17
(13)
-
-
39
27
-
-
-
-
27
240
14
-
-
-
254
2,889
-
(180)
53
-
2,762
134
-
(22)
9
(11)
110
688
-
(26)
10
(52)
620
(53)
-
-
-
5
(48)
-
-
-
480
-
480
4,097
16,116
(15,657)
(53)
-
4,503
1,332
73
(90)
-
-
1,315
3,025
3,428
(1,989)
(575)
(193)
3,696
347
423
(316)
(10)
(35)
409
104
85
(293)
111
1
8
73
243
(205)
(9)
(6)
96
1,622
2,888
(2,434)
-
32
2,108
16
29
(9)
6
(9)
33
10,616
23,285
(20,993)
(530)
(210)
12,168
314
759
(642)
6
13
450
(384)
(728)
418
-
(23)
(717)
14,517
23,347
(21,472)
31
(278)
16,145
19
2
(4)
-
-
17
212
223
(356)
(5)
-
74
1
-
-
-
-
1
-
7
(6)
-
-
1
3
5
(8)
-
-
-
2
23
(25)
-
-
-
61
-
-
(4)
-
57
7
-
(27)
27
-
7
244
401
(296)
(27)
-
322
549
661
(722)
(9)
-
479

44

Depaul International Trustees’ Annual Report and Financial Statements 2021

Group - restricted
Croatia
UK
UK-DHS & Trading
Ireland
Slovakia
France
Ukraine
USA
Inter-Company
Transfers
Total Restricted
Funds
Total Funds		 80
170
(166)
(6)
-
78
807
2,340
(2,395)
-
-
752
-
-
-
-
-
-
454
17,321
(17,645)
575
-
705
188
1,214
(1,253)
-
-
149
4
-
-
-
-
4
256
410
(82)
(591)
19
12
917
4,682
(2,530)
-
57
3,126
407
(111)
421
-
-
717
3,662
26,687
(24,372)
(31)
76
6,022
18,179
50,034
(45,844)
-
(202)
22,167

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 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.

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 17.

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 32.

The intra-company transfers comprise group subscriptions from the subsidiaries, net of the UK management recharge, grants to subsidiaries and transfers between funds which are eliminated on consolidation.

Transfers from Ukraine restricted funds to Ukraine capital funds include donations received for the purchase of assets, the conditions of which have been met. A capital fund of this value has been created. The transfer to unrestricted funds relates to donations made to Depaul International that were restricted for Ukraine but for general purposes within the country. These are eliminated on consolidation.

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

45

Depaul International Trustees’ Annual Report and Financial Statements 2021

24. Analysis of net assets between funds - Group

Tangible fixed assets
Fixed assets
investments
Programme related
investments
Debtors due after
more than one year
Current assets
Creditors due within
one year
Creditors due in
more than one year
Total		 Restricted
Unrestricted
Total
Restricted
Unrestricted
Total
funds
funds
funds
funds
2021
2021
2021
2020
2020
2020
£'000
£'000
£'000
£'000
£'000
£'000
1,620
12,478
14,098
3,848
7,702
11,550
-
347
347
-
93
93
-
47
47
-
47
47
-
436
436
-
8
8
6,022
13,563
19,387
3,611
13,016
16,627
-
(5,674)
(5,674)
-
(5,010)
(5,010)
(1,620)
(4,854)
(6,474)
(3,797)
(1,339)
(5,136)
6,022
16,145
22,167
3,662
14,517
18,179

All restricted funds held by the charity are held as current assets.

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

Net income for the year (as per Statement of Financial Activities) Group
2021
2020
£’000
£’000
4,190
2,529
Adjustment for:
Gains on investments -
(1)
Interest received (10)
(10)
Increase in stock 26
(29)
(Increase) / decrease in debtors (1,839)
208
Increase in creditors 631
749
Depreciation charges 501
516
Net cash provided by operating activities 3,499
3,962

26. Analysis of cash and cash equivalents

2021
2020
£’000
£’000
Cash in hand 14,511
13,136
Total 14,511
13,136

46

Depaul International Trustees’ Annual Report and Financial Statements 2021

27. Analysis of changes in net debt

Cash
Loans falling due within one year
Loans falling due after more than one
year
Total		 At the start of
the year
Cashflows
Foreign
exchange
movements
At the end of
the year
13,136
1,327
48
14,511
(197)
(27)
(1)
(225)
(5,083)
(1,201)
(142)
(6,426)
7,856
99
(95)
7,860

28. Capital commitments

At 31 December 2021 the group had capital commitments of £344,000 (2020: £121,000) in respect of housing properties owned by Depaul Housing in Ireland. The charity had no capital commitments.

29. 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 £654,000 (2020: £616,000). Contributions totalling £46,000 (2020: £54,000) were payable to the funds at the balance sheet date and are included in creditors.

30. Operating lease commitments

At 31 December 2021 the charity had future minimum lease payments under a non-cancellable operating lease of £7,000 (2020: nil) that are due within 1 year. At 31 December 2021 the total of the Group’s future minimum lease payments under non-cancellable operating leases was:

Within 1 year
Between 1 and 5 years
After more than 5 years
Total		 2021
2020
£’000
£’000
975
971
710
1,131
381
446
2,066
2,548

31. Post balance sheet events

As highlighted in the Statement of the Chair and President the outbreak of the war in Ukraine in February 2022 has will have a material impact on the Depaul Group during 2022 and beyond. Depaul International launched a fundraising appeal, which was supported by our subsidiaries across the group. The appeal was very successful and raised in excess of £2,500,000 within the first half of 2022. In addition, Depaul International has received funding from Cafod, a member of the Disasters Emergency Committee (DEC), of £4,500,000 for use over the first six months of the war. These funds are being used to provide humanitarian aid in Ukraine by Depaul Slovakia and Depaul Ukraine. The scale of operations for Depaul International, Depaul Slovakia and Depaul Ukraine has increased significantly as a result.

47

Depaul International Trustees’ Annual Report and Financial Statements 2021

32. 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.

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 (Opavská 24, 831 01 Bratislava), 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.

Depaul USA (14 East Jackson Blvd. Suite 1210, Chicago, IL 60604 USA), a not-for-profit organisation incorporated in the State of Delaware with limited liability and recognised by the Internal Revenue Service as having Charitable Status (no. 6605030) 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 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.

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

48

Depaul International Trustees’ Annual Report and Financial Statements 2021

A summary of the results (£’000) of members of the Depaul Group for 2021 are below:

Income from: Depaul
Ireland
Depaul
UK
Depaul
USA
Depaul
Slovakia
Depaul
Ukraine
Depaul
Croatia
Depaul
France
Depaul
International
Inter-
company
Total
Grants and donations
Charitable activities
Other fundraising events & trading activities
Investments
Other Income
Total income
Expenditure on:
Voluntary income
Fundraising trading
Charitable expenditure
Total expenditure
Exchange differences
Surplus/(deficit)
Balance sheet
Fixed assets
Current assets
Current liabilities
Long term liabilities
Net assets
Restricted funds
Unrestricted funds
Total funds		 3,009
2,012
3,961
477
63
92
129
1,058
(29)
10,772
17,600
13,694
2,606
1,156
432
106
113
394
(804)
35,297

-
23
510
-
-
-
-
-
(2)
531
-
4
6
-
-
-
-
-
-
10
140
2,796
487
4
-
1
-
-
(4)
3,424
20,749
18,529
7,570
1,637
495
199
242
1,452
(839)
50,034
851
1,530
222
76
-
4
3
87
-
2,773
-
-
85
-
-
-
-
-
-
85
18,783
16,791
4,657
1,519
375
171
224
1,305
(839)
42,986
19,634
18,321
4,964
1,595
375
175
227
1,392
(839)
45,844
(193)
-
89
(82)
20
(9)
(17)
13
(23)
(202)
(919)
(208)
(2,695)
40
(140)
(15)
2
(73)
23
3,988
4,453
4,652
3,742
628
480
15
270
254
-
14,494
7,313
7,068
3,554
716
20
104
112
1,086
(152)
19,821
(3,142)
(1,963)
(426)
(166)
-
(8)
(30)
(91)
152
(5,674)
(4,223)
(425)
(1,636)
(48)
-
-
(142)
-
-
(6,474)
4,401
9,332
5,234
1,130
500
111
210
1,249
-
22,167
705
752
3,126
149
12
78
4
479
717
6,022
3,696
8,580
2,108
981
488
33
206
770
(717)
16,145
4,401
9,332
5,234
1,130
500
111
210
1,249
-
22,167

33. 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 Depaul Group in many ways. A loan was advanced by the Daughters to Depaul France in 2015 to finance the refurbishment of the Périchaux project. The outstanding balance at 31 December 2021 is €189,000 (2020: €199,000), see Note 23. Some of the Daughters support our projects with their time. Depaul subsidiaries spent £26,000 (2020: £28,000) on professional fees paid 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 £472,000 (2020: £326,000).

Depaul Ireland received donations and funding of £440,000 (2020: £25,000) from the Society of Saint Vincent de Paul during the financial year. The increase was related to the transfer of several services that were previously operated by SVP to Depaul Ireland. A financial donation was made to support the transfer as well as donated goods/equipment that were integral to the services transferred.

The aggregate of other donations received by the group from other related parties of Depaul International during 2021 was £401,000 (2020: £426,000). We are also grateful to the Trustees and Patron of Depaul International who made further donations of £71,000 (2020: £40,000) in total.

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 two Depaul subsidiaries (appointed on a three yearly rotation) are Trustees of Depaul International. During 2021, those positions were held by the Chairs of Depaul Ukraine and Depaul Ireland.

49

Depaul International Trustees’ Annual Report and Financial Statements 2021

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

In 2021, the subsidiaries paid a total of £394,000 (2020: £397,000) 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 £541,000 during 2021 (2020: £766,000). This included grants of £25,000 to Depaul UK, £6,000 to Depaul Ireland, £4,000 to Depaul Slovakia, £76,000 to Depaul France and £430,000 to Depaul Ukraine.

In 2021, Depaul International paid Depaul UK £9,000 (2020: £9,000) in management charges for Finance, HR and IT support.

The following intra-company balances were owed to Depaul International at 31 December 2021: Depaul USA £117,000 (2020: £140,000) Depaul UK £nil (2020: £20,000)

The following intra-company balances were owed by Depaul International at 31 December 2021: Depaul UK £8,000 (2020: £nil)

Depaul Ireland £27,000 (2020: £49,000)

50

Depaul International Trustees’ Annual Report and Financial Statements 2021

34. Prior period statement of funds

Brought Transfers Gains/ Carried
forward Income Expenditure in/out losses forward
£’000 £’000 £’000 £’000 £’000 £’000
Designated funds
Depaul International
Website development
30		 - (39) 20 - 11
Ukraine 47 - (12) - - 35
Charles Leeming^ 27 - - - - 27
Sustainability fund - - - 240 - 240
Group
UK capital 3,014 - (231) 106 - 2,889
France capital 130 - (27) 24 7 134
Slovakia capital 662 - (24) 11 39 688
Slovakia LT liability (51) - - - (2) (53)
UK 3,893 15,109 (14,800) (106) 1 4,097
UK-DHS & Trading 589 97 (66) 712 - 1,332
Ireland 2,339 3,055 (1,901) (590) 122 3,025
Slovakia 50 494 (192) (11) 6 347
Ukraine 82 312 (263) - (27) 104
France 72 162 (150) (16) 5 73
USA 1,186 2,434 (2,301) 337 (34) 1,622
Croatia 81 89 (9) (145) - 16
Sub total 8,292 21,752 (19,682) 181 73 10,616
General funds held at
DPI		 153 1,115 (672) (262) (20) 314
Inter-Company
Transfers		 (260) (744) 589 - 31 (384)
Total Unrestricted
Funds		 12,044 22,123 (20,098) 320 128 14,517
Restricted Funds
Funds held in Depaul International:
Slovakia 15 4 - - - 19
Ukraine 153 244 (185) - - 212
Croatia 1 3 (3) - - 1
France - 3 - - - 3
IGH 5 - (35) 37 - 7
FHA 214 455 (390) (35) - 244
UK - 34 (32) - - 2
Porticus group
wide projects		 - 347 (286) - - 61
Sub-Total 388 1,090 (931) 2 - 549

51

Depaul International Trustees’ Annual Report and Financial Statements 2021

Funds held in subsidiaries:
Croatia (67) 140 (135) 145 (3) 80
UK 1,291 1,344 (1,828) - - 807
UK-DHS & Trading 715 (3) (712) - -
Ireland 256 15,634 (16,026) 590 - 454
Slovakia 10 1,324 (1,146) - - 188
France 8 16 (4) (8) (8) 4
Ukraine 265 113 (66) - (56) 256
USA 1,182 2,417 (2,287) (337) (58) 917
Inter-Company
Transfers		 260 (710) 846 - 11 407
Total Restricted
Funds		 3,593 22,083 (21,580) (320) (114) 3,662
Total Funds 15,637 44,206 (41,678) - 14 18,179

For explanations of funds please see Note 23.

52

Depaul International Trustees’ Annual Report and Financial Statements 2021

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS

Trustees John Darley (Chair)[1,2] Patrick Litton FCA (Treasurer)[1,2 ] Andrew Clark[1] Heidi Kruitwagen[1,2,3] Appointed members from other branches of the Vincentian Family Sister Margaret Barrett DC (Daughters of Charity of Saint Vincent de Paul) Rev. Aidan Rooney (Congregation of the Mission) Adrian Abel (Society of Saint Vincent de Paul) Appointed Chairs from national subsidiaries Father Vitaliy Novak CM, (Depaul Ukraine) John Murphy (Depaul Ireland)

Independent Finance committee members Matthew McKenna[1] Timothy Haigh[1]

1 Member of Finance and Fundraising Committee 2 Member of Remuneration Committee 3 Director of Depaul Group Trading

Leadership Mark McGreevy, OBE, Group Chief Executive Officer (until Sept. 2021) team Matthew Carter (from Sept. 2021) Hannah Bodek FCA, Group Finance & Resources Director, Company Secretary Jason Eades, Director of Fundraising (from April 2021) Anja Bohnsack, Director of Operations

Company 5245818 registered number Charity 1107385 registered number Registered St Vincent's Centre, Carlisle Place London SW1P 1NL and principal operating office Auditors Crowe U.K. LLP, 55 Ludgate Hill, London EC4M 7JW Bankers Barclays Bank PLC 1 Churchill Place London E14 5HP Investment CCLA, Senator House, 85 Queen Victoria Street, London EC4V 4ET managers 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

53