| Reports | |
|---|---|
| Referenceandadministrativeinformation | 1 |
| Trustees'report | 2 |
| Independentauditor'sreport | 21 |
| Financialstatements | |
| Statementoffinancialactivities | 26 |
| Balancesheet | 27 |
| Statementofcashflows | 28 |
| Principalaccountingpolicies | 29 |
| Notestothefinancialstatements | 33 |
| Trustees | SisterAileenKennedy |
|---|---|
| SisterJoanGeoghegan | |
| SisterMaryMcCloskey | |
| SuperiorDelegate | SisterMaryMcCloskey |
| Delegationbursar | SisterAileenKennedy |
| Administrativeoffice | 24LongdownLaneNorth |
| Ewell | |
| Epsom | |
| Surrey | |
| KT173JQ | |
| Charityregistrationnumber | 1133012 |
| Companyregistrationnumber | 7003646(EnglandandWales) |
| Auditor | BuzzacottLLP |
| 130WoodStreet | |
| London | |
| EC2V6DL | |
| Solicitors | StoneKingLLP |
| 13QueenSquare | |
| Bath | |
| BA12HJ | |
| Investmentmanagers | RathboneUnitTrustManagementLimited |
| 8FinsburyCircus | |
| London | |
| EC2M7AZ | |
| Bankers | HSBCBankplc |
| 54HighStreet | |
| Epsom | |
| Surrey | |
| KT198DS |
| • | Providecomprehensivetrainingthatallowspsychosocialandprofessionaldevelop thatallowsthemtofacethefuturewithautonomy. |
Providecomprehensivetrainingthatallowspsychosocialandprofessionaldevelop thatallowsthemtofacethefuturewithautonomy. |
|---|---|---|
| • | Covertheordinaryexpensesofthelifeandoperationofthehouseinayear. | |
| Food | €9,000 | |
| Clothesandutensils | €6,000 | |
| Gas,electricityandwater | €5,500 | |
| Schoolsuppliesandscholarshipsforexternalgirls | €10,000 | |
| Doctorandpharmacy | €800 | |
| Transportandmaintenanceschoolbus | €4,500 | |
| Workers'salary | €2,000 | |
| €37,800 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
| funds | funds |
funds | funds | funds | funds | ||
| Notes | £ | £ |
£ | £ | £ | £ | |
| Incomefrom: | |||||||
| Investmentsandinterestreceivable | 1 | 198,153 |
29,060 | 227,213 | 202,603 | 28,838 | 231,441 |
| Otherincome: | |||||||
| .Miscellaneousincome | 353 | — | 353 | — | — | — | |
| .Exchangegainonbanktransfer | — | — | — | 1,022 | - | 1,022 | |
| Totalincome | 198,506 | 29,060 | 227,566 | 203,625 | 28,838 | 232,463 | |
| Expenditureon: | |||||||
| Raisingfunds | |||||||
| .Investmentmanagementfees | 15,785 | 2,314 | 18,099 | 13,959 | 2,047 | 16,006 | |
| Charitableactivities | |||||||
| .Supportofmembersofthe | |||||||
| Congregationandtheirministry | |||||||
| togetherwiththereliefofpovertyand | |||||||
| theadvancementofeducationor | |||||||
| religionconnectedwiththeRoman | |||||||
| Catholicfaith | 2 | 186,662 | - | 186,662 | 308,316 | 308,316 | |
| Totalexpenditure | 202,447 | 2,314 | 204,761 | 322,275 | 2,047 | 324,322 | |
| Netincome(expenditure)beforenet | |||||||
| investmentgains | 4 | (3,941) | 26,746 | 22,805 | (118,650) | 26,791 | (91,859) |
| Netgainsonlistedinvestments | 6 | 637,840 | 93,551 | 731,391 | 142,033 | 25,660 | 167,693 |
| Netincomeandnetmovementin | |||||||
| funds | 633,899 | 120,297 | 754,196 | 23,383 | 52,451 | 75,834 | |
| Reconciliationoffunds: | |||||||
| Totalfundsbroughtforwardat1 | |||||||
| January2021 | 7,606,508 | 1,122,572 | 8,729,080 | 7,583,125 | 1,070,121 | 8,653,246 | |
| Totalfundscarriedforwardat31 | |||||||
| December2021 | 8,240,407 | 1,242,869 | 9,483,276 | 7,606,508 | 1,122,572 | 8,729,080 |
| 2021 | 2021 | 2020 | 2020 | ||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixedassets | |||||
| Listedinvestments | 6 | 9,289,593 | 8,562,494 | ||
| Currentassets | |||||
| Debtors | 7 | 1 | |||
| Cashatbankandinhand | 205,476 | 176,708 | |||
| 205,477 | 176,709 | ||||
| Liabilities | |||||
| Creditors:amountsfallingdue | |||||
| withinoneyear | 8 | (11,794) | (10,123) | ||
| Netcurrentassets | 193,683 | 166,586 | |||
| Totalnetassets | 9,483,276 | 8,729,080 | |||
| Thefundsofthecharity: | |||||
| Restrictedfunds | 9 | 1,242,869 | 1,122,572 | ||
| Unrestrictedfunds | |||||
| .Generalfund | 1,340,407 | 1,252,395 | |||
| .Designatedfunds | 10 | 6,900,000 | 6,354,113 | ||
| 9,483,276 | 8,729,080 |
| 2021 | 2020 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cashflowsfromoperatingactivities: | |||
| Netcashusedinoperatingactivities | A | (202,737) | (320,197) |
| Cashflowsfrominvestingactivities: | |||
| Investmentincomeandinterestreceived | 227,213 | 231,503 | |
| Purchaseofinvestments | (13) | (69,827) | |
| Proceedsfromthedisposalofinvestments | 81 | 11,591 | |
| Netcashprovidedbyinvestingactivities | 227,281 | 173,267 | |
| Changeincashandcashequivalentsintheyear | 24,544 | (146,930) | |
| Cashandcashequivalentsat1January2021 | B | 180,933 | 327,863 |
| Cashandcashequivalentsat31December2021 | B | 205,477 | 180,933 |
| Notestothestatementofcashflowsfortheyearto | 31December2021. |
| 2021 | 2020 | |||
|---|---|---|---|---|
£ |
£ |
|||
| Netmovementinfunds(asperthestatementoffinancialactivities) | 754,196 | 75,834 | ||
| Adjustmentsfor: | ||||
| Gainsonlistedinvestments | (731,391) | (167,693) | ||
| Investmentincomeandinterestreceivable | (227,213) | (231,441) | ||
| Increaseincreditors | 1,671 | 3,103 | ||
| Netcashusedinoperatingactivities | (202,737) | (320,197) | ||
| B | Analysisofcashandcashequivalents | |||
| At1 | At31 | |||
| January | December | |||
| 2021 | Cashflows | 2021 | ||
| Cashatbankandinhand | 176,708 | 28,768 | 205,476 | |
| Cashheldbyinvestmentmanagers | 4,225 | (4,224) | 1 | |
| Totalcashandcashequivalents | 180,933 | 24,544 | 205,477 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted funds Restricted funds |
Total funds |
Unrestricted funds |
Restricted funds |
Total funds |
|
| £ | £ | £ |
|||
| Investmentincome | |||||
| .UKlistedinvestments 198,138 29,060 |
227,198 | 202,172 | 28,838 |
231,010 | |
| Bankinterest 15 - |
15 | 431 | - |
431 | |
| 198,153 29,060 |
227,213 | 202,603 | 28,838 |
231,441 | |
| 2 | Expenditureon:SupportofmembersoftheCongregationand | theirministrytogether | |||
| withthereliefofpovertyandthepromotionofeducationorreligioninconnection | |||||
| withtheRomanCatholicfaith | |||||
| Unrestricted | funds/ | ||||
| Totalfunds | |||||
| 2021 | 2020 | ||||
£ |
£ |
||||
| Provisionofgrantsanddonations(seebelow) | 171,641 | 293,057 | |||
| Supportandgovernancecosts(note3) | 15,021 | 15,259 | |||
| 186,662 | 308,316 | ||||
| Grantsanddonationsduringtheyearcomprised: | |||||
| Unrestricted | funds/ | ||||
| Totalfunds | |||||
| 2021 | 2020 | ||||
£ |
£ |
||||
| Amountspaidtoinstitutions | |||||
| SupportofmissionsandprojectsoftheCongregationoverseas | |||||
| .ConstructionofahighschoolinKinshasa,DemocraticRepublicof | |||||
| Congo | 21,854 | 74,060 | |||
| .AssistancetothecommunityinMozambique | 32,896 | ||||
| AssistancetothecommunityinBolivia | 25,918 | ||||
| .AssistancetothecommunityinCalcutta | 3,446 | ||||
| .AssistancetothecommunityinBagong,Silang,Manila(Philippines) | 20,127 | ||||
| AssistancetothecommunityinBatamIsland,Indonesia | 80,015 | ||||
| Supportofsistersandtheprovisionofcareforthesickandolder | |||||
| membersoftheCongregationinIreland | 26,370 | 56,344 | |||
| ContributiontotheCongregation'sGeneralatetosupportthework | |||||
| oftheCongregationgenerally | |||||
| .Annualdonation | 60,000 | 61,142 | |||
| 170,484 | 291,688 | ||||
| Donationstootherorganisations | |||||
| AymerFoundation | 1,157 | 1,369 | |||
| 171,641 | 293,057 |
| Supportandgovernancecosts | ||
|---|---|---|
| Unrestrictedfunds/ | ||
| Totalfunds | ||
| 2021 | 2020 | |
£ |
£ |
|
| Legalandprofessionalfees | 6,468 | 7,393 |
| Governancecosts | 6,420 | 5,940 |
| Trustees'meetingexpenses | 562 | 600 |
| Otherexpenses | 1,571 | 1,326 |
| 15,021 | 15,259 | |
| Netincome(expenditure)beforenetinvestmentgains | ||
| Thisisstatedaftercharging(crediting): | ||
| 2021 | 2020 | |
£ |
£ |
|
| Foreignexchangegains | (1,022) | |
| Auditor'sremuneration(includingVAT) | ||
| .Statutoryauditservices:Current year | 6,120 | 5,820 |
| Previousyear | 300 | 120 |
| Investments | ||
|---|---|---|
| 2021 | 2020 | |
£ |
£ |
|
| Listedinvestments | ||
| Fair(market)valueat1January2021 | 8,558,269 | 8,332,340 |
| Additionsatcost | 13 | 69,827 |
| Disposalsatbookvalue | ||
| .Saleproceeds | (81) | (11,591) |
| .Realisedlosses | (809) | |
| (81) | (12,400) | |
| Netunrealisedinvestmentgains | 731,391 | 168,502 |
| Fair(market)valueat31December2021 | 9,289,592 | 8,558,269 |
| Cashheldbyinvestmentmanagersforre-investment | 1 | 4,225 |
| 9,289,593 | 8,562,494 | |
| Costoflistedinvestmentsat31December2021 | 6,398,395 | 6,398,442 |
| Debtors | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Interestreceivable | I | 1 |
| Creditors:amountsfallingduewithinoneyear | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Othercreditorsandaccruals | 11,794 | 10,123 |
| Restrictedfunds—TheGeneralatefund | ||
| 2021 | 2020 | |
| £ | £ | |
| At1January2021 | 1,122,572 | 1,070,121 |
| Netmovementsinyear | 120,297 | 52,451 |
| At31December2021 | 1,242,869 | 1,122,572 |
| specificpurposes: | ||||
|---|---|---|---|---|
| At1 | Released/ | At31 | ||
| January 2021 £ |
Designated intheyear £ |
utilised intheyear £ |
December 2021 £ |
|
| Congregationalfund | 144,113 | - | (144,113) | — |
| Missionfund | 750,000 | 250,000 | - | 1,000,000 |
| Retirementreserve | 5,460,000 | 440,000 | - | 5,900,000 |
| 6,354,113 | 690,000 | (144,113) | 6,900,000 | |
| At1 | Released/ | At31 | ||
| January 2020 |
Designated intheyear |
utilised intheyear |
December 2020 |
|
| £ | £ | £ | £ | |
| Congregationalfund | 295,245 | 4,197 | (155,329) | 144,113 |
| Missionfund | 750,000 | - | - | 750,000 |
| Retirementreserve | 5,390,000 | 70,000 | - | 5,460,000 |
| 6,435,245 | 74,197 | (155,329) | 6,354,113 |
| Analysisofnetassetsbetweenfun | ds | |||
|---|---|---|---|---|
| General | Designated | Restricted | Total | |
| funds | funds | funds | 2021 | |
| £ | £ | £ | £ | |
| Fundbalancesat31December2021 | ||||
| arerepresentedby: | ||||
| Investments | 1,201,298 | 6,900,000 | 1,188,295 | 9,289,593 |
| Netcurrentassets | 139,109 | 54,574 | 193,683 | |
| Totalnetassets | 1,340,407 | 6,900,000 | 1,242,869 | 9,483,276 |
| General | Designated | Restricted | Total | |
| funds | funds | funds | 2020 | |
| £ | £ | £ | £ | |
| Fundbalancesat31December2020 | ||||
| arerepresentedby: | ||||
| Investments | 1,113,173 | 6,354,113 | 1,095,208 | 8,562,494 |
| Netcurrentassets | 139,222 | 27,364 | 166,586 | |
| Totalnetassets | 1,252,395 | 6,354,113 | 1,122,572 | 8,729,080 |
| 2021 | 2020 | |
|---|---|---|
£ |
£ |
|
| Totalunrealisedgainsonlistedinvestmentsat31December2021 | 2,891,197 | 2,159,827 |
| Reconciliationofmovementsinunrealisedgains | ||
| Unrealisedgainsat1January2021 | 2,159,827 | 1,994,276 |
| Less:Gainsrealisedondisposaloflistedinvestments | (21) | (2,951) |
| Netgainsarisingonrevaluationoflistedinvestments | 731,391 | 168,502 |
| Totalunrealisedgainsat31December2021 | 2,891,197 | 2,159,827 |