Company No : 07321922 Charity No: 1137792
POOR HANDMAIDS OF JESUS CHRIST
(A company limited by guarantee)
REPORT AND FINANCIAL STATEMENTS
31 December 2022
Poor Handmaids of Jesus Christ
| CONTENTS | Page |
|---|---|
| Legal and Administrative Details | 1 |
| Trustees’ Report | 2 |
| Independent Examiner’s Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 9 |
| Notes to the Accounts | 10 |
Poor Handmaids of Jesus Christ
LEGAL AND ADMINSTRATIVE DETAILS 31 December 2022
REISTERED NAME
Poor Handmaids of Jesus Christ
CHARITY REGISTRATION NUMBER
1137792
COMPANY REGISTRATION NUMBER
07321922
REGISTERED ADDRESS
St Joseph’s Convent Westminster House Watford Way London NW4 4TY
OTHER OPERATING ADDRESSES
St Boniface Convent 97 Namu Road Victoria Park Bournemouth BH9 2RA
BANKERS Barclays Bank plc Branches at Bournemouth and Edgware
SOLICITORS
Stone King Sewell LLP 16 St John’s Lane London EC1M 4BS
INVESTMENT ADVISORS
Barclays Wealth Barclays Bank plc County Gates House 300 Poole Road Bournemouth BH1 2BW
INDEPENDENT EXAMINER
Sally A Meaden & Co Chartered Certified Accountants 61 Herberton Road Bournemouth BH6 5HZ
1
Poor Handmaids of Jesus Christ
TRUSTEES’ REPORT 31 December 2022
The trustees, who are also directors of the charity for the purposes of the Companies Act, submit their report and the unaudited financial statements for the year ended 31 December 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity and in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies, in preparing the annual report and financial statements of the charity.
STATUS AND ADMINISTRATION
The charity is a charitable company limited by guarantee and was incorporated on 21 July 2010 and became registered as a charity on 6 September 2010. It commenced activity on the 1[st] January 2012 following completion of a deed of transfer on 17[th] November 2011. The deed of transfer states that with effect from 1[st] January 2012 all the operations, assets and liabilities were transferred from the existing charitable trust (Congregation of Poor Handmaids of Jesus Christ, English Region charity number 234423) to the new charitable company. It is governed by a memorandum and articles of association.
OBJECTS OF THE CHARITY
The objects of the Charity are such charitable purposes as shall advance the religious and other charitable work of the Congregation as the Trustees with approval of the Superior shall from time to time think fit, provided that if at any time the Congregation shall cease to exist or shall cease to carry on religious work then for such other lawful purposes connected with the advancement of the Roman Catholic Religion as the Trustees shall determine.
REVIEW OF ACTIVITIES AND RESULTS
Results
The results for the period are set out on pages 7-9. As the sisters here in England begin to age, the majority being in their late eighties it is becoming apparent that we will not function as a Province in our own right and will potentially become a community under the guidance of our General Leadership in Germany, there will be a local leader living in England who will oversee the general day to day living of all the sisters and finance. This is a process which we are now beginning with meetings planned with our Canon Lawyer Kristian Paver, Mr Rutherford and Alexandra Wetherdon from Stone King. Despite our aging sisters our houses continue to be open houses of hospitality and volunteer in a school providing spirituality for both children and staff. We have appointed two new Directors/ Trustees as shown on page 4. Sister Catherine Doherty, who resides in a nursing home in Pinner, continues to be on end of life palliative care.
One sister is a qualified Counsellor and will minister to those on low incomes who cannot afford the going rates of £45 for a therapy session. She has now become the coordinator of the pastoral care team in her local parish using the same skills as a counsellor. She also offers workshops to Sisters in developing countries of her congregation.
We continue to make donations to those in need in our local areas supporting those impacted by the COVID and will continue to do so as those needs are becoming increasingly important due to the current financial climate.
Public benefit
The Charity has continued the work in the initial formation of children and adults and in ongoing education at all levels in the Roman Catholic religion in all three areas where the Charity is operating. Other activities have included:-
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assistance of priests in various areas through pastoral work,
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visiting of sick and housebound and attending to spiritual needs, and
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Providing hospitality for various groups on a day basis to deepen spirituality and prayer life.
2
Poor Handmaids of Jesus Christ
TRUSTEES’ REPORT 31 December 2022
Public benefit (continued)
Details of support and donations are given in note 2 of the accounts, which during the year have included donations to organisations local to the two areas in which the Convents are based and have in particular supported the homeless, vulnerable and needy. The mission fund donations from this charity goes into the Corpus Fund for projects that support people in general.
In addition missions are designated by the Motherhouse to further our charitable purposes and to provide public benefit to those most in need. The reports issued by the Motherhouse highlighted the following in respect of mission projects:-
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India – The Poor Handmaids Of Jesus Christ started their work in India more than 50 years ago. Key projects have included the creation of a home for destitute women known as ‘Maria Sadan’; the Katharina Kasper Leprosy control scheme which from its’ clinic offers free medicine, physiotherapy, allergy, paediatric, orthopaedic services and outdoor ministry for around 8,000 a year; the Ashalaya Awareness Programme including self-help groups, skills training, summer camps and scholarship training across 30 villages in Bangalore north district with over 900 children and over 1500 adults participating in the year; the Nirmala Covent Nagular Yercaud providing crèche facilities for children aged 2 ½ - 5 years old, the Katherine primary school for 102 pupils and social work/pastoral care visiting families especially those who are sick, suffering and aged; boarding facilities for 12 girls studying 10[th] classes at the Nagular government school; the Maria Bhavan Covent in Dhani North India comprises several projects offering boarding to 226 girls aged 4-16 years St Francis Xavier, treatment for T.B. patients at a hospital assisting 70-80 patients daily, the education project which supported 44 students in 2014 in their education, social work assisting farmers by giving seeds to cultivate their land; the Katherine Matriculation School began in 2003 in China Avudaiyar Kovil with only 20 students and now has 650 students with admissions given to all irrespective of their religion, colour, caste or race; and finally support via the Leonidis Endowment foundation. Newer projects include elderly care in homes and a new Care Facility operated by the sisters for the people.
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Nigeria - The Poor Handmaids Of Jesus Christ founded their first Convent in 2000 in Garem. The additional Convents are located in Owerri in the state of Iwo, Nigeria; Niger state and in Ifetedo, Osun state. Our Children’s’ home in Mgbele provides a safe refuge for 12 children, including 5 of whom are mentally or physically handicapped. The children attend school and learn to care for each other becoming independent as far as possible. In Nairobi the hospital created continues to receive immense support where our Sisters care for the poorest of the poor.
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Kenya – the Poor Handmaids founded their first Convent in 2000 in the Diocese of Meru Kenya. The major project in Kenya is the ‘Street Children Project’ to give the children a future. Our ministry has expanded to cover the provision of mobile health clinics and establishing schools, as well as providing courses for adults and pastoral care within prisons.
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Brazil – 30 years ago work began in Brazil with the founding mission in Sao Joao da Fronteira in northeast Brazil, which is the poorest area of the country. Since then two other convents have been established in Jacunda and Sovral also in the northeast. ‘Casa Maria Catalina Sao Joao continues to provide day care for the children’. This allows mothers to go to work.
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Mexico - The Poor Handmaids Of Jesus Christ began their mission work here 35 years ago. 14 Sisters currently serve in four poor areas of Queretero and San Ildefonso near Mexico City, Coatzcoalcos in the south and Mapachapa in the Gulf of Mexico. They provide hands-on ministry to the poorest of society who are mainly women and children in various projects and programs. The embroidery projects was founded 20 years ago for the indigenous Otomi women and their children allowing them to develop skills and produce products to sell to provide a better future for their children and families. The sisters provide a room dental treatment for the poor. The Katherine Kasper Education centre in South Mexico provides education for those children who have never attended or been able to enter the normal school system.
Our developing countries continue to train their young sisters with skills relevant to the needs of the people they are ministering to. Therefore, we finance them when needs arise. All countries put in yearly budgets for their needs, and these are scrutinized before being given permission.
As the finance in the West will not always be there; in the Western World our communities are coming to completion and we are training sisters to look for some funding for themselves – all five of our developing countries continue to be funded and are not self sufficient.
3
Poor Handmaids of Jesus Christ
TRUSTEES’ REPORT 31 December 2022
Charity’s policies
1) Investments
The Charity follows a low risk policy whereby surplus funds from yearly activities are invested. Other investments arise from bequests and donations received. The Charity has delegated investment management to Barclays Wealth and Private Bank Limited to try and improve returns on investment following the continuing low market rates of interest, whilst maintaining a low risk strategy. A written policy statement has been provided to and agreed with the investment managers. Barclays Wealth and Private Bank Limited has fully delegated powers within the terms of this policy.
2) Reserves
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To provide sufficient funds for the Sisters to live on now and in the future, as all their personal income comprising of salaries and pensions forms an incoming resource to the Charity.
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To allow the provision of nursing home care when needed.
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To allow major refurbishments and renewals to be carried out at the Convents’ premises when required.
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To give financial support to allow the rapid growth of the congregation in third world countries
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3) Grant making and donations
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Local churches in the areas where the Sisters are working have been selected by the Trustees as worthy of support, as have local appeals made by various other national charities or individuals in need. Decisions for the latter have been left to the discretion of the three convents.
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In addition we support the missions of our own congregation in the third world countries where our Sisters work and minister. Periodically we support the General Mission Fund in Germany and help new missions and developments of our own congregation in Nigeria and Kenya and our other missions in Mexico and Brazil.
-
Details of donations made during the current financial year are shown in note 2 of the accounts.
DIRECTORS AND TRUSTEES
The Trustees are appointed in writing by the Superior and shall when complete consist of at least three and not more than six individuals the majority of whom shall be Roman Catholic.
The directors’ and trustees of the charitable company who have held office since 1[st] January 2022 to date are as follows:
Sister Rosemary Bridget Snell Sister Winifred Mary O'Rourke Sister Judith Diltz (Superior) (appointed 1 May 2023) Sister Prakasha Sahaya Mary (appointed 1 May 2023) The day to day management of the charity is carried out by the trustees. Policies and strategies are determined by the trustees who hold formal meetings a minimum of twice a year.
RISK MANAGEMENT
The trustees have considered the risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage them. The trustees consider the principal risk to be related to the increasing age and health concerns of the current trustees and attracting new Sisters’ who can (subject to appointment as trustees) continue the work of the charity for future generations.
- In the future we anticipate giving help in this country to students of the Roman Catholic faith when sufficient funds have been built up.
4
Poor Handmaids of Jesus Christ
TRUSTEES’ REPORT 31 December 2022
TRUSTEES’ RESPONSIBILITIES STATEMENT
The trustees (who are also directors of Poor Handmaids of Jesus Christ for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
SISTER ROSEMARY BRIDGET SNELL
For and on behalf of the Directors/Trustees Date : 18[th] September 2023
5
Poor Handmaids of Jesus Christ
INDEPENENT EXAMINER’S REPORT TO THE TRUSTEES OF POOR HANDMAIDS OF JESUS CHRIST
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2022 which are set out on pages 7 to 16.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Sally Ann Meaden F.C.C.A. Sally A Meaden & Co 61 Herberton Road Bournemouth BH6 5HZ Date: 18[th] September 2023
6
Poor Handmaids of Jesus Christ
STATEMENT OF FINANCIAL ACTIVITES (Incorporating an income and expenditure statement) For the year ended 31 December 2022
| INCOME AND EXPENDITURE Unrestricted funds Restricted funds INCOMING RESOURCES £ £ Incoming resources from generated funds: Investment income Interest - bank deposit 96 - Interest – bank investments 636 23 Dividends 63,204 - Incoming resources from legacies - - Incoming resources from charitable activities: Salaries and pensions 81,071 - Profit on disposal tangible fixed assets 2,153 - Other income - - Total incoming resources 147,160 23 RESOURCES EXPENDED Charitable activities: Property cleaning/maintenance services 2,770 - Catering 10,874 - Household and garden 6,972 - Medical 3,499 - Nursing home fees 72,092 - Rent 9,300 - Rates and insurances 1,154 - Light, heat and water 3,619 - Telephone, post and stationery 3,820 - Computer software, consumables & website 959 - Repairs and maintenance 4,903 - Laundry, cleaning and clothing 1,693 - Travelling and motor 7,244 - Stipends and alms 892 - Religious conference fee 250 - Memorial and cemetery costs 3,025 - Sundries: Publications and newspapers 1,746 +- Holidays and retreats 3,907 - Chapel 119 - Tuition and courses 470 - Miscellaneous 806 - Donations Note 2 79,851 - 219,965 - |
2022 £ 96 659 63,204 - 81,071 2,153 - 147,183 2,770 10,874 6,972 3,499 72,092 9,300 1,154 3,619 3,820 959 4,903 1,693 7,244 892 250 3,025 1,746 3,907 119 470 806 79,851 219,965 |
2021 £ 7 65 51,191 - 70,983 - - |
|---|---|---|
| 122,246 | ||
| 2,613 10,257 4,939 3,213 70,754 7,800 2,294 3,902 3,633 659 1,166 1,181 4,995 1,122 300 45 1,876 3,097 179 610 623 50,952 |
||
| 176,210 |
7
Poor Handmaids of Jesus Christ
STATEMENT OF FINANCIAL ACTIVITES (Incorporating an income and expenditure statement) For the year ended 31 December 2022
| Unrestricted funds Restricted funds £ £ Support costs Depreciation 11,678 - Loss on disposal tangible fixed assets 425 - 12,103 - Governance costs: Accountancy - including independent examiner fee 5,760 - Professional fees Barclays Wealth 21,279 - Legal fees 762 - Companies House fees 13 - Bank Charges 172 - 27,986 - Total resources expended 260,054 - NET INCOMING/(OUTGOING) RESOURCES BEFORE OTHER RECOGNISED GAINS AND LOSSES Note 2 (112,894) 23 Other recognised gains and losses Realised gains on investments 6,554 - (Losses)/gains on investments unrealised (236,300) - NET MOVEMENT IN FUNDS FOR THE YEAR (342,640) 23 Balances brought forward at 1 January 2022 4,542,835 16,428 Balances carried forward at 31 December 2022 4,200,195 16,451 |
2022 £ 11,678 425 12,103 5,760 21,279 762 13 172 27,986 260,054 (112,871) 6,554 (236,300) (342,617) 4,559,263 4,216,646 |
2021 £ 11,270 3,861 |
|---|---|---|
| 15,131 | ||
| 5,400 23,442 - 13 53 |
||
| 28,908 | ||
| 220,249 | ||
| (98,003) | ||
| 57,287 130,377 |
||
| 89,661 4,469,602 |
||
| 4,559,263 |
The notes on pages 9 to 16 form part of these accounts.
All amounts derived are from continuing operations.
8
Poor Handmaids of Jesus Christ Company No : 7321922 Charity No : 1137792
BALANCE SHEET 31 December 2022
| Note FIXED ASSETS Tangible assets 3 CURRENT ASSETS Debtors 5 Cash Barclays Wealth 4 Barclays Wealth portfolio investments 4 Barclays Wealth cash investments and short term bonds 4 Bank deposit accounts Bank current accounts Cash in hand CURRENT LIABILITIES Creditors : amounts falling due within one year 6 NET CURRENT ASSETS NET ASSETS REPRESENTED BY: UNRESTRICTED ACCUMULATED FUNDS Balance at 1 January 2022 8 (Deficit)/surplus for the year 8 Balance at 31 December 2022 8 RESTRICTED ACCUMULATED FUNDS Balance at 1 January 2022 7 Surplus for the year 7 Balance at 31 December 2022 7 TOTAL CHARITY FUNDS |
2022 £ 2,438 488,954 3,027,569 158,342 96,667 347,010 436 4,121,416 (15,409) 4,542,835 (342,640) 16,428 23 |
2022 £ 110,639 4,106,007 4,216,646 4,200,195 16,451 4,216,646 |
2021 £ 4,495 885,354 2,943,612 166,814 96,595 358,242 - 4,455,112 (15,621) 4,453,176 89,659 16,426 2 |
2021 £ 119,772 4,439,491 4,559,263 4,542,835 16,428 4,559,263 |
|---|---|---|---|---|
These accounts have been prepared in accordance with the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) and in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements were approved by the Directors/Trustees on 18[th] September 2023.
Signed on behalf of the directors/trustees by: SISTER ROSEMARY BRIDGET SNELL
9
Poor Handmaids of Jesus Christ
NOTES TO THE ACCOUNTS For the year ended 31 December 2022
1. ACCOUNTING POLICIES General Information and basis for preparation
Poor Handmaids of Jesus Christ is a charitable company limited by guarantee incorporated in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 contributable by the Superior of the charity (see note 12). The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are detailed in the Trustees’ Report on pages 2-5.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 20011, the Companies Act 2006 and UK Generally Accepted Practice.
The charity does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
The particular accounting policies adopted by the trustees are described below. These policies have been consistently applied to all years presented unless otherwise stated.
Accounting convention
The financial statements are prepared under the historical cost convention as modified by the revaluation of investments to market value.
Fund accounting
The charity maintains two types of funds as follows:
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Restricted funds
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Restricted funds represent donations and legacies received which are allocated by the donor for specific purposes.
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Unrestricted funds
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Unrestricted funds represent income which is expendable at the discretion of the trustees in the furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. Within unrestricted funds the Trustees may designate funds for future development projects.
Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
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Voluntary income is received from bequests and donations and is included in full in the Statement of Financial Activities when receivable.
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Investment income comprises dividends which are included when they are declared and bank and building society interest which is included on a receivable basis. Investment income is credited to the specific funds accordingly.
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Incoming resources from charitable activities are accounted for when earned.
10
Poor Handmaids of Jesus Christ
NOTES TO THE ACCOUNTS For the year ended 31 December 2022
1. ACCOUNTING POLICIES (continued)
Resources expended
All expenditure, other than that which has been capitalised, is included in the Statement of Financial Activities.
Expenditure is included on an accruals basis whereby the value of purchase invoices received before the year end but not paid until after the year end have been included. The value of purchase invoices received after the year end in respect of expenditure incurred before the year end where insignificant have not been included in the Statement of Financial Activities. Resources expended includes attributable VAT which cannot be recovered.
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Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity.
Investments
Stocks and shares quoted on the recognised Stock Exchanges are included in the Balance Sheet at their fair value at the year end. Realised gains/losses are calculated as the difference between fair value at the date of disposal and the fair value at the previous balance sheet date (or date of acquisition if later). Unrealised gains/losses are calculated as the difference between the fair value at the balance sheet date and the fair value at the previous balance sheet date (or acquisition if later). All changes are recognised in the SOFA if the shares are publically traded or their fair value can otherwise be measured reliably.
Fixed assets
All assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
The premises occupied by St Joseph’s Convent are provided by the Archdiocese of Westminster on a rent free basis. St Boniface Convent now occupies a residential premise on which rent is payable. No depreciation is provided on land.
Other fixed assets are capitalised at cost or if donated, at the estimated value at date of receipt and depreciated over the following periods:
Improvements to buildings - 2% straight line Furniture and equipment - 10% reducing balance per annum Motor vehicles - 25% reducing balance per annum Computer equipment - 25% reducing balance per annum
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Taxation
The company is a registered charity and as such benefits from various exemptions from taxation afforded by the tax legislation, and is therefore not liable to tax on income or gains falling within those exemptions to the extent that the income or gains are applied to the primary charitable purposes of the company.
Trustees’ remuneration and expenses
The trustees do not receive remuneration or expenses for their services (note 9).
11
Poor Handmaids of Jesus Christ
NOTES TO THE ACCOUNTS For the year ended 31 December 2022
2. NET INCOMING RESOURCES FOR THE YEAR
Net incoming resources for the year are stated after charging/(crediting):
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Accountancy and Independent | ||
| Examiner fees | 5,760 | 5,400 |
| (Profit)/loss on disposal fixed assets | (1,728) | 3,861 |
| Realised (gains) on disposal of | ||
| investments | (6,554) | (57,287) |
| Depreciation of tangible fixed assets | 11,678 | 11,270 |
| Donations: | ||
| Re: Motherhouse contribution | 42,866 | 41,088 |
| Re: Motherhouse contributions mission | ||
| funds | 28,228 | - |
| Re: CAFOD and Catholic Church | 350 | 1,500 |
| Re: Kinson & West Howe | ||
| Bournemouth Foodbank | 3,000 | 200 |
| Re: The Passage Charity | 3,000 | 2,000 |
| Re: The Medialle Trust | - | 2,000 |
| Re: various local area donations | 2,407 | 2,164 |
| Re: Burley Church Project | - | 2,000 |
12
Poor Handmaids of Jesus Christ
NOTES TO THE ACCOUNTS For the year ended 31 December 2022
3. Fixed assets
Cost 1 January 2022 Additions Disposals 31 December 2022 Depreciation 1 January 2022 Charge for the year On disposals 31 December 2022 Net book value 31 December 2022 Net book value 31 December 2021 |
Improvements Furniture To Fittings & buildings equipment £ £ 99,965 39,584 - - - (250) 99,965 39,334 15,947 27,276 2,000 1,214 - (68) 17,947 28,422 82,018 10,912 84,018 12,308 |
Motor Computer vehicles equipment £ £ 43,151 3,705 - 3,316 (13,495) (2,462) 29,656 4,559 20,562 2,848 7,414 1,050 (13,149) (2,219) 14,827 1,679 14,829 2,880 22,589 857 |
Total £ 186,405 3,316 (16,207) |
|---|---|---|---|
| 173,514 | |||
| 66,633 11,678 (15,436) |
|||
| 62,875 | |||
| 110,639 | |||
| 119,772 |
The net book value at 31 December 2022 and 31 December 2021 represents fixed assets, which are all used for direct charitable purposes.
The gross value of building improvements on which depreciation is charged amounts to £99,965 (31 December 2021: £99,965.
In the Trustees’ opinion the aggregate open market value of the improvements to buildings would be similar to its book value. No professional valuation has been completed and the trustees believe it is not practicable to quantify any potential difference.
13
Poor Handmaids of Jesus Christ
NOTES TO THE ACCOUNTS For the year ended 31 December 2022
| 4. Current Asset Investments Total current asset investments comprise: Managed Investments listed on a recognised stock exchange Other investments – cash deposits Listed investments and other investments: Market value 1 January 2022 Additions in year and management costs Disposals Profit on disposal Surplus on revaluation at 31 December Market value at 31 December 2022 Analysis of listed investments and other investments Cash Managed investments – cash and short term maturity bonds Managed investments – Other equities, other bonds and alternative assets Managed investments - Developed market equities |
2022 £ 3,185,911 488,954 3,674,865 3,995,780 423,152 (514,321) 6,554 (236,300) 3,674,865 Value at 31.12.2022 £ 488,954 158,342 2,295,696 731,873 3,674,865 |
2021 £ 3,110,426 885,354 |
|---|---|---|
| 3,995,780 | ||
| 3,846,632 1,887,668 (1,926,184) 57,287 130,377 |
||
| 3,995,780 | ||
| Value at 31.12.2021 £ 885,354 166,814 2,134,654 808,958 |
||
| 3,995,780 |
All current asset investments are stated at fair value as determined by Barclays Wealth based on open market values determined by the quoted price for identical assets in an active market at the balance sheet date.
5. DEBTORS
Prepayments and accrued income
2022 2021 £ 2,438 4,495
14
Poor Handmaids of Jesus Christ
NOTES TO THE ACCOUNTS For the year ended 31 December 2022
| 6. CREDITORS : amounts falling due within one year Accruals and deferred income 7. MOVEMENTS IN RESTRICTED FUNDS Balance brought forward 1 January 2022 Income in year – interest Balance carried forward 31 December 2022 |
2022 £ 15,409 2022 £ 16,428 23 16,451 |
2021 £ 15,621 |
|---|---|---|
| 2021 £ 16,426 2 |
||
| 16,428 |
Restricted funds comprise unexpended donations and grants given for a specific purposes or transfer of amounts from unrestricted funds to a specific charitable project. The balance reflects interest earnt on such amount.
| amount. | |||||
|---|---|---|---|---|---|
| Fixed assets Net current | Restricted | ||||
| assets | fund | ||||
| balance | |||||
| £ | £ | £ | |||
| Allocation of charity’s net assets to restricted funds | - | 16,451 | 16,451 | ||
| 8. | UNRESTRICTED FUNDS | ||||
| Undesignated | Designated | 2022 | 2021 | ||
| Funds | Funds | ||||
| £ | £ | £ | £ | ||
| Balance brought forward 1 January 2022 | 4,420,568 | 122,267 | 4,542,835 | 4,453,176 | |
| (Deficit)/surplus for the year | (340,640) | (2,000) | (342,640) | 89,659 | |
| Balance carried forward 31 December 2022 | 4,079,928 | 120,267 | 4,200,195 | 4,542,835 | |
| Within unrestricted funds the Trustees may designate funds for future development projects. | |||||
| Fixed assets Net current | Unrestricted | ||||
| assets | fund | ||||
| balance | |||||
| £ | £ | £ | |||
| Allocation of charity’s net assets to unrestricted | |||||
| funds – 31 December 2022 | 110,639 | 4,089,556 | 4,200,195 |
9. TRANSACTIONS WITH RELATED PARTIES
All trustees of the Congregation of Poor Handmaids of Jesus Christ, English Region are related parties. There have been no transactions between the parties other than those already identified within the usual course of the charities activities i.e. the provision of accommodation and welfare for the trustees as all their personal income comprising of salaries and pensions forms an incoming resource to the Charity.
The Motherhouse in Germany is a controlling party by virtue of the Superior General, who has the power to appoint and remove the charity’s trustees, with the consent of the General Council. Contributions to the Motherhouse during the year amounted to £71,094 (2021 - £41,088) for donations in support of missions.
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Poor Handmaids of Jesus Christ
NOTES TO THE ACCOUNTS For the year ended 31 December 2022
10. CAPITAL COMMITMENTS
The company had made no capital commitments at 31 December 2022 (31 December 2021 – £nil).
11. CONTINGENT LIABILITIES
There were no contingent liabilities at 31 December 2022 or 31 December 2021.
12. LIABILITY OF MEMBERS
The charity is a company limited by guarantee. The member of the company is the Superior. In the event of the charity being dissolved while she remains the Superior or within twelve months afterwards she will contribute up to £1 towards the costs of dissolution and the liabilities incurred by the Charity while she was the Superior.
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