2021-12-31-accounts

			Page
Reports
Legal and	administrative	information
Trustees'	report
Auditors'	report		12
Accounts
Statement	offinancial activities		13
Balance sheet			14
Statement	ofcash flows		15
Notes to the accounts			16

Legal and Administrative Information	Legal and Administrative Information
Trustees	The Most Reverent Miceal O' Neill O.Carm.
	The Very Reverend	Carl Markelz O. Carm. ,BBA,MA
	The Very Reverend	Kevin Alban O. Carm. ,STB,MA, MTh, PhD
	(died 4'" May 2021)
	The Reverend Robert Colaresi		O. Carm. ,MA, MRS
	The Reverend Francis Kemsley O. Carm.
	The Very Reverend	Christian	Korner O. Carm
	Ms. Pauline Stuart MA (resigned 12'" July 2021)
Principal Office	Barclays House
	51Bishopric
	Horsham
	West Sussex
	RH12 1QJ
Charity Reg. N.	1123034
Company Reg. N.	6453716
Auditors	Borucki &Co.
	(Chartered Accountants)
	42 Radnor Road
	Harrow Middlesex
	HA1 1RZ
Bankers	NatWest,
	47 Carfax,
	Horsham
	RH12 1FD.
Solicitors	Stone King LLP
	13Queen Square
	Bath
	BA12HJ

In 2021 160,166pieces of mail were sent out only to	In 2021 160,166pieces of mail were sent out only to	existing donors. The mailings	in 2021
were as follows	together with the rate ofreturn for each	one:
Month	Appeal	Rate ofReturn in Replies	received
January	Annual Membership	23.65%
February	Easter Cards	54.13%
March	Between Friends Spring Newsletter*	8.97%
April	Bookmark	17.06%
May	Notepad and pen	23.07%
June	Between Friends Summer Newsletter*	10.57%
July	Feast Day	25.98%
August	All Occasion Cards**	48.19%
September	All Souls Intentions	36.31%
October	Christmas Cards	45.70%
November	Angels	33.27%

	2021	2020	2019	2018
Incoming resources	K1,173,622	K1,132,709	E1,031,525	K941,420
Total expended	6916,883	6957,054	f.1,009,221	K837,650
Net	%+256,739	+f175655	+f22,304	+%103,770

for the year ended 31	Decembe	r 2021
		General	Development	Restricted	Total	Total	General	Development	Restricted
	Notes	fund	fund	fund	2021	2020	fund	fund	fund
Income
Voluntary income
Donations		1,006,676		106,146	1,112,822	1,054,045	1,054,045
Legacies		14,001	(4,899)		9,102	12,400	12,400
Investment income
Dividends			44,957		44,957	35,901		35,901
Interest		3			3	2	2
Other income		4,796			4,796	8,605	8,605
Profit on exchange						21,756	21,756
Furlough grants		1,942			1,942	7,968	7,968
Total income		1,027,418	40,058	106,146	1,173,622	1,140,677	1,104,776	35,901
Expenditure
Raising funds
Fundraising expenditure		782,143			782,143	815,628	815,628
Charitable activities
Donations		120,968		4,396	125,364	129,918	123,772	5,000	1,146
Governance costs		9,376			9,376	11,508	11,508
Total expenditure		912,487		4,396	916,883	957,054	950,908	5,000	1,146
Total income less expenditure		114,931	40,058	101,750	256,739	183,623	153,868	30,901	(1,146)
Net gains (losses) on investmen	8		159,599		159,599	(91,018)		(91,018)
Net income (expenditure)
before transfers		114,931	199,657	101,750	416,338	92,605	153,868	(60,117)	(1,146)
Transfers between funds
		114,931	199,657	101,750	416,338	92,605	153,868	(60,117)	(1,146)
Net movement in funds		114,931	199,657	101,750	416,338	92,605	153,868	(60,117)	(1,146)
Balances brought forward 1January		602,964	1,537,966		2,140,930	2,048,321	449,092	1,598,083	1,146
Balances carried forward 31December		717,895	1,737,623	101,750	2,557,268	2,140,926	602,960	1,537,966

			Notes		2021		2020
Fixed assets
Tangible assets					509		7,396
Investments					1,706,833		1,502,277
					1,707,342		1,509,673
Current assets
Debtors			9	97,189		91,215
Cash at bank	and in	hand		796,555		603,985
				893,744		695,200
Creditors: amounts		falling due within one
year			10	(43,818)		(63,947)
Net current	liabilities liabilities				849,926		631,253
Total assets	less current liabilities				2,557,268		2,140,926
Total net assets					2,557,268		2,140,926
Represented	by:
Funds and reserves
Unrestricted	funds
General funds					717,895		602,964
Designated	funds				1,737,623		1,537,966
					2,455,518		2,140,930
Restricted funds			12		101,750
					2,557,268		2,140,930

			Note	2021	2020
Cash used in operating activities			A	192,563	173,533
Cash flows from investing acivities
Investment income				44,960	35,903
Purchase offixed assets					(1,019)
Purchases ofinvestments				(44,918)	(35,277)
Cash provided (used) in investing	activities			42	(393)
Decrease in cash and cash equivalents		in year		192,605	173,140
Movement in year
(Decrease) increase in cash at bank and in hand				192,570	173,761
(Decrease) increase in cash held	in Building Society			40	(621)
				192,610	173,140

		2021	2020
Net movement in	funds	416,338	92,605
Deduct investment	income	(44,960)	(35,903)
Add depreciation	and amortization	6,887	12,483
Add/(deduct) net	movement on investments.	(159,599)	91,018
Increase (decrease) in creditors		(20,129)	(7,263)
(Increase) decrease in debtors		(5,974)	20,593
		192,563	173,533

				General				General
4	Cost ofgenerating	funds		Fund	Funds	2021	2020	Fund	Funds
	Fundraising					g
	Mailing production	and disnibution	(note 5)	316,451		316,451	358,791	358,791
	Donor lists and database			10,447		10,447	8,441	8,441
	Fulfilment materials			5,700		5,700	33,646	33,646
	Premises			71,806		71,806	68,784	68,784
	Employees			165,000		165,000	153,978	153,978
	Promotional events	and advertising		15,402		15,402	17,050	17,050
	Website costs			10,034		10,034	10,656	10,656
	Office expenses			169,007		169,007	164,282	164,282
				782,143		782,143	815,628	815,628
5	Mailing production	and distribution
	Acquisition
	House					316,451	358,791
						316,451	358,791

							General							General
6	Governance costs						Fund			Funds	2021		2020	Fund	Funds
													g
	Auditors remuneration						5,600				5,600		5,600	5,600
	Accountancy fees						3,776				3,776		5,892	5,892
	Trustees travel and subsistence												16	16
							9,376				9,376		11,508	11,508
	Trustees travel and subsistence			comprises		the travel,	accommodation		and	subsistence	costs of trustees		who are members of the Carmelite			Order.
	Expenses are incurred	while attending			trustees and management			meetings		and while	on inspection	visits	to projects	being funded.
7	Tangible fixed assets													Furniture
												Leasehold		alld
												improvement		Equipment	Total
	Cost
	At 1 January 2021												137,473	7,631		145,104
	Additions
	Disposals													(3,012)		(3,012)
	At 31December 2021												137,473	4,619		142,092
	Depreciation
	At 1 January 2021												(131,741)	(5,967)	(137,708)
	Charge for the year												(5,732)	(1,155)		(6,887)
	On disposals													3,012		3,012
	At 31December 2021												(137,473)	(4,110)	(141,583)
	Net book value
	At 31December 2021													509		509
	At 31December 2020												5,732	1,664		7,396
8	Investments													2021		2020
	Listed Investments
	Market value at 1 January		2021											1,302,277	1,358,018
	Additions at cost													44,918		35,277
	Gain (loss) in year													159,598		(91,018)
	Market value at 31December 2021													1,506,793	1,302,277
	On deposit													200,040	200,000
														1,706,833	1,502,277
	Cost oflisted investments		at 31	December		2021								1,018,965	1,013,190

9	Debtors						2021	2020
	P repayments						45,955	46,537
	Sundry debtors						138	5,778
	Prepaid materials						42,470	31,928
	Income tax recoverable				on donations		8,626	6,972
							97,189	91,215
10	Creditors:	amounts		falling due within one year			2021	2020
	Other taxes	and social			security		3,299	3,706
	Expense creditors						39,117	56,342
	Other creditors						1,402	3,899
							43,818	63,947
11	Designated	funds						At 31
					At 1 January	Incoming	Utilised/	December
					2021	resources	realised	2021
	Development	fund			1,537,966	40,058	159,599	1,737,623
	The development		fund		consists offunds set aside to allow for the long term funding ofprojects.
12	Restricted funds							At 31
					At 1 January	Incoming	Utilised/	December
					2021	resources	realised	2021
	Diamond fund					100,000		100,000
	Peru					1,500		1,500
	Timor					4,646	(4,396)	250
						106,146	(4,396)	101,750

Analysis ofnet as	sets between funds
		General	Designated	Restricted
		fund	funds	funds	2021
Tangible fixed assets		509	1,706,833		1,707,342
Current assets		761,204	30,790	101,750	893,744
Creditors: amounts	falling due
within one year		(43,818)			(43,818)
		717,895	1,737,623	101,750	2,557,268