|Reports||
|---|---|
|Referenceandadministrativeinformation|1|
|Trustees'report|3|
|Independentauditor'sreport|17|
|Financialstatements||
|Statementoffinancialactivities|21|
|Balancesheet|22|
|Statementofcashflows|23|
|Principalaccountingpolicies|24|
|Notestothefinancialstatements|28|
##
|Trustees|SisterAileenKennedy|
|---|---|
||SisterJoanGeoghegan|
||SisterMaryMcCloskey|
|SuperiorDelegate|SisterMaryMcCloskey|
|Delegationbursar|SisterAileenKennedy|
|Administrativeoffice|24LongdownLaneNorth|
||Ewell|
||Epsom|
||Surrey|
||KT173JQ|
|Registeredoffice|c/oBuzzacottLLP|
||130WoodStreet|
||London|
||EC2V6DL|
|Charityregistrationnumber|1133012|
|Companyregistrationnumber|07003646(EnglandandWales)|
|Auditor|BuzzacottLLP|
||130WoodStreet|
||London|
||EC2V6DL|
|Solicitors|StoneKingLLP|
||UpperBoroughCourt|
||3UpperBoroughWalls|
||Bath|
||BA11RG|
|Investmentmanagers|RathboneUnitTrustManagementLimited|
||8FinsburyCircus|
||London|
||EC2M7AZ|
##
|Bankers|HSBCBankplc|
|---|---|
||54HighStreet|
||Epsom|
||Surrey|
||KT198DS|
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**==> picture [132 x 30] intentionally omitted <==**
Date: 26 June 2024
|||Un-||2023|Un-||2022|
|---|---|---|---|---|---|---|---|
|||restricted|Restricted|Total|restricted|Restricted|Total|
|||funds|funds|funds|funds|funds|funds|
||Notes|£|£|£|£|£|£|
|Incomefrom:||||||||
|Investmentsandinterestreceivable|1|253,605|38,006|291,611|231,298|34,803|266,101|
|Totalincome||253,605|38,006|291,611|231,298|34,803|266,101|
|Expenditureon:||||||||
|Raisingfunds||||||||
|.Investmentmanagementfees||14,634|2,242|16,876|14,724|2,255|16,979|
|Charitableactivities||||||||
|.Supportofmembersofthe||||||||
|Congregationandtheirministry||||||||
|togetherwiththereliefofpovertyand||||||||
|theadvancementofeducationor||||||||
|religionconnectedwiththeRoman||||||||
|Catholicfaith|2|200,451||200,451|193,004||193,004|
|Totalexpenditure||215,085|2,242|217,327|207,728|2,255|209,983|
|Netincomebeforenetinvestment||||||||
|gains(losses)|4|38,520|35,764|74,284|23,570|32,548|56,118|
|Netgains(losses)onlistedinvestments|6|271,421|41,576|312,997|(879,948)|(132,079)|(1,012,027)|
|Netincome(expenditure)andnet||||||||
|movementinfunds||309,941|77,340|387,281|(856,378)|(99,531)|(955,909)|
|Reconciliationoffunds:||||||||
|Totalfundsbroughtforwardat1||||||||
|January2023||7,384,029|1,143,338|8,527,367|8,240,407|1,242,869|9,483,276|
|Totalfundscarriedforwardat31||||||||
|December2023||7,693,970|1,220,678|8,914,648|7,384,029|1,143,338|8,527,367|
|||2023|2023|2022|2022|
|---|---|---|---|---|---|
||Notes|£|£|£|£|
|Fixedassets||||||
|Listedinvestments|6||8,640,564||8,327,567|
|Currentassets||||||
|Debtors|7|217||135||
|Shorttermdeposits||100,000||100,000||
|Cashatbankandinhand||186,086||110,257||
|||286,303||210,392||
|Liabilities||||||
|Creditors:amountsfallingdue||||||
|withinoneyear|8|(12,219)||(10,592)||
|Netcurrentassets|||274,084||199,800|
|Totalnetassets|||8,914,648||8,527,367|
|Thefundsofthecharity:||||||
|Restrictedfunds|9||1,220,678||1,143,338|
|Unrestrictedfunds||||||
|.Generalfund|||793,970||484,029|
|.Designatedfunds|10||6,900,000||6,900,000|
||||8,914,648||8,527,367|
**==> picture [53 x 16] intentionally omitted <==**
##
|||2023|2022|
|---|---|---|---|
||Notes|£|£|
|Cashflowsfromoperatingactivities:||||
|Netcashusedinoperatingactivities|A|(215,700)|(211,185)|
|Cashflowsfrominvestingactivities:||||
|Investmentincomeandinterestreceived||291,528|265,967|
|Purchaseofinvestments||-|(50,001)|
|Netcashprovidedbyinvestingactivities||291,528|215,966|
|Changeincashandcashequivalentsintheyear||75,828|4,781|
|Cashandcashequivalentsat1January2023|B|110,258|105,477|
|Cashandcashequivalentsat31December2023|B|186,086|110,258|
|Notestothestatementofcashflowsfortheyearto|31December2023.|||
|Reconciliationofnetmovementinfundstonetcashusedinoperating|activities||
|---|---|---|
||2023|2022|
||£|£|
|Netmovementinfunds(asperthestatementoffinancialactivities)|387,281|(955,909)|
|Adjustmentsfor:|||
|(Gains)lossesonlistedinvestments|(312,997)|1,012,027|
|Investmentincomeandinterestreceivable|(291,611)|(266,101)|
|Increase(decrease)increditors|1,627|(1,202)|
|Netcashusedinoperatingactivities|(215,700)|(211,185)|
|Analysisofcashandcashequivalents||||
|---|---|---|---|
||At1||At31|
||January||December|
||2023|Cashflows|2023|
||£|£|£|
|Cashatbankandinhand|110,257|75,829|186,086|
|Cashheldbyinvestmentmanagers|1|(1)|-|
|Totalcashandcashequivalents|110,258|75,828|186,086|
##
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||||2023|||2022|
|---|---|---|---|---|---|---|
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
||funds|funds|funds|funds|funds|funds|
||£|£|£|£|£|£|
|Investmentincome|||||||
|.UKlistedinvestments|248,119|38,006|286,125|230,168|34,803|264,971|
|Bankinterest|5,486|-|5,486|1,130|-|1,130|
||253,605|38,006|291,611|231,298|34,803|266,101|
|withtheRomanCatholicfaith|||
|---|---|---|
||UnrestrictedfundsI||
||Totalfunds||
||2023|2022|
||`£`|`£`|
|Provisionofgrantsanddonations(seebelow)|179,779|174,612|
|Supportandgovernancecosts(note3)|20,672|18,392|
||200,451|193,004|
|Grantsanddonationsduringtheyearcomprised:|||
|---|---|---|
||UnrestrictedfundsI||
||Totalfunds||
||2023|2022|
||`£`|`£`|
|Amountspaidtoinstitutions|||
|SupportofmissionsandprojectsoftheCongregationoverseas|||
|.EducationalsupportinKinshasa,DemocraticRepublicofCongo||34,791|
|.AssistancetothecommunityinthePhilippines|78,973|26,813|
|.AssistancetothecommunityinBrazil|8,791||
|Supportofsistersandtheprovisionofcareforthesickandolder|||
|membersoftheCongregationinIreland|40,000|35,000|
|ContributiontotheCongregation'sGeneralatetosupportthework|||
|oftheCongregationgenerally|||
|.Annualdonation|13,165|61,755|
|MissionFunddonations:tosupportcharitableworkinUkraine|||
|.MedecinsSansFrontieres|5,000||
|.IrishRedCross|5,000||
|.BritishRedCross|5,000||
|.Trocaire|5,000||
|.MissionaryOblatesofMaryImmaculate||7,500|
|.CongregationoftheMostHolyRedeemer—TheRedemptorists||7,500|
|AymerFoundation|18,850|1,253|
||179,779|174,612|
##
##
|3|Supportandgovernancecosts|||
|---|---|---|---|
|||UnrestrictedfundsI||
|||Totalfunds||
|||2023|2022|
|||`£`|`£`|
||Legalandprofessionalfees|7,008|7,468|
||Governancecosts|8,820|5,400|
||Trustees'meetingexpenses|1,253|3,195|
||Otherexpenses|3,591|2,329|
|||20,672|18,392|
|4|Netincome(expenditure)beforenetinvestmentgains(losses)|||
||Thisisstatedaftercharging:|||
|||2023|2022|
|||`£`|`£`|
||Auditor'sremuneration(includingVAT)|||
||.Statutoryauditservices:Currentyear|6,330|5,400|
||Previousyear|930||
||.Otherservices:Currentyear|1,560||
##
##
|Investments|||
|---|---|---|
||2023|2022|
||`£`|`£`|
|Listedinvestments|||
|Fair(market)valueat1January2023|8,327,567|9,289,592|
|Additionsatcost||50,001|
|Netunrealisedinvestmentgains(losses)|312,997|(1,012,027)|
|Fair(market)valueat31December2023|8,640,564|8,327,566|
|Cashheldbyinvestmentmanagersforre-investment||1|
||8,640,564|8,327,567|
|Costoflistedinvestmentsat31December2023|6,448,396|6,448,396|
##
|7|Debtors|||
|---|---|---|---|
|||2023|2022|
|||`£`|`£`|
||Interestreceivable|217|135|
|8|Creditors:amountsfallingduewithinoneyear|||
|||2023|2022|
|||`£`|`£`|
||Othercreditorsandaccruals|12,219|10,592|
|9|Restrictedfunds—TheGeneralatefund|||
|||2023|2022|
|||`£`|`£`|
||At1January2023|1,143,338|1,242,869|
||Netmovementsinyear|77,340|(99,531)|
||At31December2023|1,220,678|1,143,338|
##
|specificpurposes:|||||
|---|---|---|---|---|
||At1||Released/|At31|
||January|Designated|utilised|December|
||2023|intheyear|intheyear|2023|
||`£`|
`£`|
`£`|`£`|
|Missionfund|1,000,000|20,000|(20,000)|1,000,000|
|Retirementreserve|5,900,000|||5,900,000|
||6,900,000|||6,900,000|
||At1||Released/|At31|
||January|Designated|utilised|December|
||2022|intheyear|intheyear|2022|
||`£`|
`£`|
`£`|
`£`|
|Missionfund|1,000,000|15,000|(15,000)|1,000,000|
|Retirementreserve|5,900,000|||5,900,000|
||6,900,000|15,000|(15,000)|6,900,000|
##
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##
|Analysisofnetassetsbetweenfunds||||||
|---|---|---|---|---|---|
||General|Designated||Restricted|Total|
||funds||funds|funds|2023|
||£||£|£|£|
|Fundbalancesat31December2023||||||
|arerepresentedby:||||||
|Investments|592,856|6,900,000||1,147,708|8,640,564|
|Netcurrentassets|201,114|||72,970|274,084|
|Totalnetassets|793,970|6,900,000||1,220,678|8,914,648|
||General|Designated||Restricted|Total|
||funds||funds|funds|2022|
||£||£|£|£|
|Fundbalancesat31December2022||||||
|arerepresentedby:||||||
|Investments|321,435|6,900,000||1,106,132|8,327,567|
|Netcurrentassets|162,594|||37,206|199,800|
|Totalnetassets|484,029|6,900,000||1,143,338|8,527,367|
|Thetotalunrealisedgainsat31December|2023and|2022|include|netgainson|revaluation|
|oflistedinvestments.||||||
|||||2023|2022|
|||||`£`|`£`|
|Totalunrealisedgainsonlistedinvestments|at31December2023|||2,192,168|1,879,170|
|Reconciliationofmovementsinunrealisedgains||||||
|Unrealisedgainsat1January2023||||1,879,171|2,891,198|
|Less:Gainsrealisedondisposaloflistedinvestments||||||
|Net(losses)gainsarisingonrevaluationoflistedinvestments||||312,997|(1,012,027)|
|Totalunrealisedgainsat31December2023||||2,192,168|1,879,171|
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