OpenCharities

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

2022-12-31-accounts

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

Trustees The Most Reverent Miceal O' Neill O.Carm Miceal O' Neill O.Carm
The Very Reverend Carl Markelz O. Carm. ,BBA,MDiv.
The Reverend Robert Colaresi O.Carm. MA, MRS
The Reverend Francis Kemsley O. Carm.
The Very Reverend Christian Korner O. Carm
Bro.Paul de Groot O.Carm
Principal office Barclays House
51Bishopric
Horsham
West Sussex
RH12 1QJ
Charity registration number 1123034
Company Registration number 6453716
Auditors Borucki 8z Co
(Chartered
Accountants)
42 Radnor Road
Harrow
Midlesex HA1 1RZ
Bankers NatWest,
47 Carfax,
Horsham RH12 1FD.
Solicitors Stone King LLP
13Queen Square
Bath BA1 2HJ

2022 2021 2020 2019
Incoming resources f744,777 K1,173,622 K1,132,709 K1,031,525
Total expended K1,020,104 f916,883 f957,054 61,009,221
Net K-275,327 %+256,739 +f175655 +f22,304

for the year ended 31 Decembe r 2022
General Development Restricted Total Total
General Development Restricted
Notes fund fund fund 2022 2021 fund fund fund
Income
Voluntary
income
Donations 620,622 36,847 657,469 1,112,822 1,006,676 106,146
Legacies 26,085 26,085 9,102 14,001 (4,899)
Investment
income
Dividends 51,000 51,000 44,957 44,957
Interest 3 3
Other income
Profit on exchange 9,752 9,752
Miscellaneous
income		 471 471 4,796 4,796
Furlough
grants		 1,942 1,942
Total income 656,930 51,000 36,847 744,777 1,173,622 1,027,418 40,058 106,146
Expenditure
Raising funds
Fundraising
expenditure		 4 731,088 731,088 782,143 782,143
Charitable
activities
Donations 140,525 5,006 130,527 276,058 125,364 120,968 4,396
Governance
costs		 12,958 12,958 9,376 9,376
Total expenditure 884,571 5,006 130,527 1,020,104 916,883 912,487 4,396
Total income less expenditure (227,641) 45,994 (93,680) (275,327) 256,739 114,931 40,058 101,750
Net gains (losses) on investmen 8 (93,352) (93,352) 159,599 159,599
Net income (expenditure)
before transfers (227,641) (47,358) (93,680) (368,679) 416,338 114,931 199,657 101,750
Transfers between funds
(227,641) (47,358) (93,680) (368,679) 416,338 114,931 199,657 101,750
Net movement
in funds		 (227,641) (47,358) (93,680) (368,679) 416,338 114,931 199,657 101,750
Balances brought forward 1January 717,895 1,737,623 101,750 2,557,268 2,140,930 602,964 1,537,966
Balances carried forward 31December 490,254 1,690,265 8,070 2,188,589 2,557,268 717,895 1,737,623 101,750

Notes 2022 2021
Fixed assets
Tangible assets 255 509
Investments 1,764,479 1,706,833
1,764,734 1,707,342
Current assets
Debtors 9 41,812 97,189
Cash at bank and in hand 471,486 796,555
(325,069) 513,298 893,744
Creditors: amounts falling due within one
year 10 (89,443) (43,818)
Net current liabilities liabilities 423,855 849,926
Total assets less current liabilities 2,188,589 2,557,268
Total net assets 2,188,589 2,557,268
Represented by:
Funds and reserves
Unrestricted funds
General funds 490,254 717,895
Designated funds 1,690,265 1,737,623
2,180,519 2,455,518
Restricted funds 12 8,070 101,750
2,188,589 2,557,268

Note 2022 2021
Cash used in operating
activities		 A (225,071) 192,563
Cash flows from investing
acivities
Investment
income		 51,000 44,960
Purchase offixed assets
Purchases ofinvestments (48,042) (44,918)
Cash provided
(used) in investing		 activities 2,958 42
Decrease in cash and cash equivalents in year (222,113) 192,605
Movement
in year
(Decrease) increase in cash at bank and in hand (325,069) 192,565
(Decrease) increase in cash held in Building Society 102,956 40
(222,113) 192,605

2022 2021
Net movement
in		 funds (368,679) 416,338
Deduct investment income (51,000) (44,960)
Add depreciation and amortization 255 6,887
Add/(deduct)
net		 movement
on investments.		 93,352 (159,599)
Increase (decrease) in creditors 45,624 (20,129)
(Increase) decrease in debtors 55,377 (5,974)
(225,071) 192,563
Accounting
policies
Basis ofpreparation
and assessment		 ofgoing concern
The accounts
have been prepared
under		 the historical cost convention with items recognised
at cost or transaction		 value unless otherwise stated in
the relevant
note(s) to these accounts.		 The financial statements
have		 been prepared in accordance with the Statement of Recommended Pracdce:
Accounting
and Repordng
by Charities		 preparing their accounts
in		 accordance with the Financial Repornng
Standard		 applicable in the UK and
Republic of Ireland
(FRS 102) issued		 on 16 July 2014 and the Financial Repornng Standard
applicable		 in the United Kingdom and Republic of
Ireland (FRS 102)and the Charities Act 2011.
The trust constitutes
a public benefit entity as defined		 by FRS 102.
The trustees consider that there are no material uncertainties
about the		 Trust's ability to continue
as		 a going concern.
Foreign currencies
Transactions
in foreign currencies
are		 recorded at the rate ruling at the date ofthe transaction.
Monetary
assets and		 liabilides denominated
in foreign
currencies
are translated
at the rate ofexchange		 ruling at the balance sheet date. All differences
are		 taken to the profit and loss account.
Tangible ffxed assets
Leasehold improvements
are amortized		 in equal instalments over the term ofthe lease.
All other
assets costing
more
than f1,000		 and with an expected life of more than one year are capitalised. Depreciation
is provided		 at the
following
annual
rates in order to write		 offeach asset over its estimated useful life:
Plant, equipment,
fixtures and fittings		 20% on cost.
After five years plant, equipment,
fixtures and fittings		 with a net book value of nil are written
out of		 the accounts as in the opinion of the Trustees
such assets have a negligible
residual
value.
Investments
Investments
are a form of basic financial
instrument		 and are initially recognised at their transaction value and subsequently
measured		 at their fair
value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising
on revaluation
and disposals
throughout		 the year.
The Charity does not acquire put options, derivatives or other complex financial instruments.
The main form of financial risk faced by the charity is that ofvolatility in equity markets and investment markets due to wider economic conditions,
the attitude ofinvestors to investment risk, and changes in sentiment concerning equities and within particular
sectors		 or sub sectors.
All gains and losses are taken to the Statement ofFinancial
Activities		 as they arise. Realised gains and losses on investments
are		 calculated as the
difference
between
sales proceeds
and		 their opening carrying
value		 or their purchase value if acquired subsequent to the first day of the financial
year.
Unrealised
gains and losses are calculated
as the difference between		 the fair value at the year end and their carrying value. Realised and unrealised
investment
gains and losses are combined
in		 the Statement ofFinancial Activities.
Fund accounting
The general
fund comprises
those monies,		 which may be used towards meeting the charitable objectives of the charity at the discretion of the
Trustees.
The designated
funds are monies set aside out ofgeneral funds and designated		 for specific purposes by the Trustees.
The restricted funds are monies received for specific purposes.
Taxation
The charity is a registered
charity
and		 therefore is not liable for income tax or corporation tax on income derived from its charitable activities, as it
falls within the various exemptions
available		 to registered charities.
Net movement
in funds
This is stated after charging
General General
fund Funds 2022 2021 fund Funds
g
Staff costs (note 3) 229,340 229,340 165,000 143,536
Auditors
remuneration		 5,600 5,600 5,600 5,600
Accounting
and other		 2,664 2,664 3,776 3,776
Depreciation ofowned assets 255 255 6,887 255
Staffcosts General General
fund Funds 2022 2021 fund Funds
g g
Wages and salaries 145,144 145,144 143,536 143,536
Redundancy
pay		 59,220 59,220
Social security costs 14,492 14,492 11,209 11,209
Pension cost 6,551 6,551 6,568 6,568
Staff health plan 3,933 3,933 3,687 3,687
229,340 229,340 165,000 165,000
The average number ofemployees,
analysed		 by function was:
Fundraising
and administrative
No employee
received more than f60,000 in		 the year or in the previous year.
No trustee received any remuneration in the year or in the previous
year.
General General
Cost ofgenerating
funds		 Fund Funds 2022 2021 Fund Funds
Fundraising g
Mailing production
and distribution
(note 5)		 241,029 241,029 316,451 316,451
Donor lists and database 11,179 11,179 10,447 10,447
Fulfilment
materials		 9,582 9,582 5,700 5,700
Premises 68,877 68,877 71,806 71,806
Employees 229,340 229,340 165,000 165,000
Promotional
events and advemsing		 17,813 17,813 15,402 15,402
Website costs 11,827 11,827 10,034 10,034
Office expenses 137,462 137,462 169,007 169,007
731,088 731,088 782,143 782,143
Mailing production
and distribution
Acquisition
House 241,029 316,451
241,029 316,451
7 Tangible flxed assets Tangible flxed assets Tangible flxed assets Tangible flxed assets Furniture
Leasehold slid
improvement Equipment Total
Cost
At I January 2022 137,473 4,619 142,092
Additions
Disposals
At 31December 2022 137,473 4,619 142,092
Depreciation
At I January 2022 (137,473) (4,109) (141,582)
Charge for the year (255) (255)
On disposals
At 31December 2022 (137,473) (4,364) (141,837)
Net book value
At 31December 2022 255 255
At 31December 2021 510 510
8 Investments 2022 2021
g
Listed Investments
Market value at I January 2022 1,506,793 1,302,277
Additions
at cost		 48,042 44,918
Gain (loss) in year (93,352) 159,598
Market value at 31 December 2022 1,461,483 1,506,793
On deposit 302,996 200,040
1,764,479 1,706,833
Cost oflisted investments
at 31December 2022		 1,051,037 1,013,190
9 Debtors 2022 2021
g
Prepayments 39,086 45,955
Sundry debtors 100 138
Prepaid materials 42,470
Income tax recoverable on donations 2,626 8,626
41,812 97,189
10 Creditors: amounts falling due within one year 2022 2021
g
Other taxes and social security 8,041 3,299
Expense creditors 80,190 39,117
Other creditors 1,212 1,402
89,443 43,818
11 Designated
funds		 At 31
At I January Incoming Utilised/ December
2022 resources realised 2022
Development
fund		 1,737,623 51,000 (98,358) 1,690,265
The development fund consists offunds set aside to allow for the long term funding ofprojects.
12 Restricted funds At 31
At I January Incoming Utilised/ December
2022 resources realised 2022
Diamond
fund		 100,000 (100,000)
Peru 1,500 (1,500)
Ukrainian
appeal		 36,626 (28,663) 7,963
Timor 250 221 (364) 107
101,750 36,847 (130,527) 8,070
Diamond
fund: Funds		 to be distributed
after consultation		 and with the agreement ofthe donor.
Peru: Funds: At the donors widh to be used for Peru.
Ukrainian
appeal funds		 collected to assist the Carmelites in Ukraine.
Timor:
Funds collected as a result ofan emergency		 appeal regarding the floods in East Timor.
13 Analysis ofnet assets between funds
General Designated Restricted
fund funds funds 2022
g
Tangible fixed assets 255 1,764,479 1,764,734
Current assets 579,442 (74,214) 8,070 513,298
Creditors: amounts faBing due within one year (89,443) (89,443)
490,254 1,690,265 8,070 2,188,589