##
|||||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|||
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||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|
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|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|