2021-12-31-accounts - Congregation Of The Daughters Of The Cross International

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Reports	Reports
Reference and administrative		details
ofthe charity, its trustees and		advisers	1
Trustees' report
Independent auditor's	report		16
Financial statements
Statement offinancial	activities		21
Balance sheet			23
Statement ofcash flows			24
Principal accounting	policies		25
Notes to the financial	statements		28

		Trustees	Sister Pushpa Purathur	Sister Pushpa Purathur	(Superior General)
			Sister Mary McLaughlin
			Sister Maureen O'Brien
			Sister Valerie Miranda
			Peter Cousins FCA	(appointed 3September
			2021)
			Sister Zeenat Shangara		(resigned 9s
			September 2021)
	Bursar General		Sister Josephine Rozario
	Secretary General		Sister Flavia Cerejo
	Registered office		C/0 Buzzacott LLP
			130Wood Street
			London
			EC2V SDL
Company	registration	number	07565399(England	and	Wales)
Charity	registration	number	1142490
		Auditor	Buzzacott LLP
			130Wood Street
			London
			EC2V 6DL
		Bankers	NatWest Bank pic
			38Strand
			London
			WC2H 5JB
		Solicitors	Stone King LLP
			Broad Quay House
			Bristol
			BS14DJ

									Total
						Unrestricted	Restricted	Endowment	funds
						funds	funds	fund	2021
				Notes			2	2	6
Income and expenditure
Income from:
Donations					1	42,963			42,$63
Investments					2	435,365	10,185		446,560
Other					3	1,763	225		1,988
Total Income						480,091	10,410		490,501
Expenditure on charitable		activities:
Funding Generalate					4	116,173			116,173
Grants and donations					5	(34,704)	7,318		(27,386)
support costs					6	41,343			41,343
Total expenditure						122,812	7,318		130,130
Net income (expenditure)		before net
Investment gains						357,279	3,092		360,371
Net gains on the revaluation		and	disposal of
listed investments					11	1,308,904	43,320	539,504	1,891,728
Net Income and net movement			In funds		7	1,666,183	46,412	539,504	2,252,09$
Reconcglatlon of	funds
Total funds brought	forward
at 1 January 2021						10,899,392	383,561	4,453,043	15,735,996
Total funds carried	forward
at 31 December 2021						12,565,575	429,973	4,992,547	17,988,095

									Toter
						Unrestdcted	Restn'cted	Endowment	funds
					Notes	funds	funds f	fund f	2020
Income and expenditure
Income fromr
Donations					1	48,919			48,919
Investments					2	378,857	8,992		387,849
Other					3
Total income						427,776	8,992		436,768
Expenditure on:
Funding Genemlate						112,254			112254
Grants and donations						22239	10,012		32251
Support costs						29,053			29,053
Total expenditure						163,546	10,012		173558
Netincome (expenditurei		bsl'ore		net investment
gains						264,230	(1,020i		263,210
Net gains on the revaluation			and	disposal of
8sled investments					11	564,608	18,850	241,336	844,794
Net Income and net	movementin			funds	7	848,838	17,830	241,335	1,108,004
Reconciliation offunds
Total funds brought	fonvard
at 1January 2020						10,050,554	365,731	4,211,707	14,627992
Total funds cerned forward
at31December 2020						10,899,392	383,561	4,453,043	15,735,996

		Notes	2021f	2021f	2020 f	2020 f
Fixed assets
Investments				18,765,051		17,170,654
Current assets
Debtors		12	30,615		13,772
Cash at bank and in	hand		891,183		557,847
			921,798		571,619
Crsditom: amounts	falling dus
within one year		13	(377,709)		(191,267)
Nst current assets				544,089		380,352
Total assets less current
liabilities				19,309,140		17,551,006
Creditors: amounts	falling dus
after more than one	year	14		(1,321,045)		(1,815,010)
Total net assets				17,988,095		15,735,996
The funds ofthe charity
Restricted funds		15		429,973		383,561
Endowment fund		16		4,992,547		4,453,043
Unrestricted funds
.Designated funds		17
..Chapter fund			79,011		39,868
..Entrside fund			437,443		391,269
.. Emerging Needs fund			9,575,531		8,567,641
.. Solidarity fund			98,590		85,614
..Gsnsralate fund			2,350,000		1,790,000
				12,540,575		10,874,392
.General funds				25,000		25,000
				17,988,095		15,735,996

						2021	2020
					Notes	6
Cash (outgow) from operating activities:
Nst cash used provided by operating activities					A	(567,666)	(207,497)
Cash Inflow from Investing	activities:
Dividends and interest from	investments					445,550	387,849
Net disposal (purchase) of investments						454,384	(307,432)
Net cash used in investing	activities					899,934	80,417
Change in cash and cash	equivalents	in the year				332,268	(127,080)
Cash and cash equivalents	at 1January		2021		B	557,847	687,289
Change in cash and cash	equivalents		due to exchange	rate
movements						1,068	(2,362)
Cash and cash equivalents	at 31December 2021					891,183	557,847

Reconciliation of	net	income	to net cash provided	to net cash provided	activities
					2021 f	2020 F-
Net income (as per	the	statement	of	financial activities)	2,252,099	1,108,004
Adjustments for:
Gains on investments					(2,048,781)	(940,168)
Dividends and interest from investments					(445,550)	(387,849)
Foreign exchange (gain)		loss			(1,068)	2,362
(Increase) decrease	in debtors				(16,843)	364
(Decrease) increase	in creditors				(307,523)	9,790
Net cash used provided		by operating		activities	(567,666)	(207,497)

		2021 f	2020 F-
Cash	at bank and in hand	891,183	557,847
Total	cash and cash equivalents	891,183	557,847

1	Income fr	om donations
			Unrestricted	Restricted	2021	Unrestricted	Restricted	2020
			funds	funds	Total	funds	funds	Total
			E	E	E	E	r.	E
	Contributions	from Provinces	42,713		42,713	45,262		45,262
	Other donations		250		250	3,657		3,657
	Total funds		42,963		42,963	48,919		48,019
2	Income from investments
			Unrestricted	Restricted	2021	Unrestricted	Restncted	2020
			funds	funds	Total	funds	funds	Total
			E	E	E	E	E	E
	Income from	listed investments
	.UK equities		435,292	10,185	445,477	377,706	8,992	386,698
	Bank interest		73		73	1,151		1,151
	Total funds		435,365	10,185	445,550	378,857	8,992	387,849
3	Other income
			Unrestricted	Restricted	2021	Unrestricted	Restricted	2020
			funds	funds	Total	funds	funds	Total
			E	E	E	E	E	E
	Proceeds on	sale offixed
	assets		920		920
	Foreign exchange gains		843	225	1,068
	Total funds		1,763	225	1,988

Funding Generalate
	Unrestricted	Restricted	2021	Unrestricted	Restricted	2020
	funds	funds	Total	funds	funds	Total
	E	E	E	E	E	E
Sisters' gving and pemonal
support	13,891		13,891	30,248		30,248
Property	23,370		23,370	17,976		17,976
Administration	38,764		38,764	58,495		58,495
Car costs and travel	3,384		3,384	5,535		5,535
Grant (see note 5)	36,764		36,764
Total Funding Generalate	116,173		116,173	112,254	—	112,254

Grants and donations
	Unreelricled	Restricted	2021	Unrestricted	Restricted	2020
	funds	funds	Total	funds	funds	Total
	6	E	E	E	E	E
Patrimony fund donations		7,318	7,318	—	10,012	10,012
Enlreide fund dcnelicns	12,659		12,659	8,000	—	8,000
Emerging Needs fund donation
lc Rcvrkele Province	6,100		8,100	10,000		10,000
Other donations	501		501	4,239	—	4,239
	19,260	7,318	28,578	22,239		4,239
Write back ofdonation ic Brazil
Province nc longer required	(53,964)	—	(53,964)
Per SOFA	(34,794)	7,318	(27,386)	22,239	10,012	32,251
Grant lcGecerelale ofthe
Daughters ofthe Cross of
Liege	36,764		36,764
Total donations	2,060	7,318	9,378	22,239	10,012	32,251

Support C	osts
		Unrestricted			Restricted	2021	Unrestricted	Restricted	2020
			funds		funds	Total	funds	funds	Total
				E	E	E	F	E	E
Admlnielre8cn			7,713			7,713	5,880	—	5,880
Governance	costs		33,630			33,836	23,173	—	23,173
Totelfucds			41,343			41,343	29,053	—	29,053
Governance costs are made			up as	follows:
								2021	2020
								E
Legal and professional		fees						26,809	12,252
Auditor's remunera5on								4,860	5,550
Meeting costs								1,961	5,371
								33,630	23,173

Tangible fixed assets
	Fixtures
	and	Computer	Motor
	fittings	equipment	vehicles	Totalf
Cost
At 1 January 2021	33,195	11,654	10	44,859
Disposals	(33,195)	(11,654)	(10)	(44,859)
At 31 December 2021
Depreciation
At 1 January 2021	33,195	11,654	10	44,859
Eliminated on disposal	(33,195)	(11,654)	(10)	(44,859)
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020

Investments
		2021	2020
Listed investments
Market value at 1 January	2021	17,170,654	15,923,054
Net additions at cost		345,616	307,432
Disposal in year		(800,000)
Unrealised investment gains		2,048,781	940,168
Market value at 31 December 2021		18,765,051	17,170,654
Cost oflisted investments	at 31 December 2021	11,038,713	11,215,644

At 31Decemb	er 20	21,the	inve	stments	were held as follo	ws:
						2021	2020
Listed investments						5	5
COIF Charities	Ethical	Investment		Fund		10,330,537	9,269,662
BlaokRock Catholic Charities			Growth & Income Fund			8,434,614	7,900,992
						18,765,051	17,170,654
Net investment	gains dealt		with	in the	SOFA are made up	as follows:
						2021	2020
							F
Net investment	gains	on listed	investments		—as per above	2,048,781	940,168
Less: Other investment		gains	(see	below)		(157,053)	(95,374)
Gains on investments		assets	per SOFA			1,891,728	844,794

	Other investment	Other investment	gains	of F157,053 (2020 -	of F157,053 (2020 -	595,374) represent	595,374) represent	595,374) represent	595,374) represent	gains	in respect of	in respect of
	investments	held on	behalf ofparts of		the worldwide			Congregation	ofthe Daughters			ofthe
	Cross of Liege, hence they are not				attributable		to	the Charity's	Statement		of Financial
	Activities for	the year,	and the amounts		included	in	creditors as held		on behalf		ofthose parts
	are adjusted	accordingly.
12	Debtors
										2021		2020
										5		5
	Prepayments	and accrued income								29,469		13,772
	Sundry debtors									1,146
										30,615		13,772
13	Creditors:	amounts	falling due within one year
										2021		2020
										6		E
	Expense creditors											9,553
	Accruals and	deferred	income							8,699		15,914
	Other creditors									2,142
	Amounts held	on behalf the		Congregation	ofthe Daughters			ofthe Cross
	of Liege									366,868	165,800
										377,709	191,267


Creditor	s: amounts falling due after more	than one year
				2021	2020
				E	E
Amounts	held on behalf of parts ofthe worldwide	Congregation	of the
Daughters	ofthe Cross ofLiege			1,321,045	1,815,010

				Income
			At	and gains		At 31
		1	January	on		December
			2021	investments	Expenditure	2021
			E	E	E	E
Patrimony	Fund		359,751	53,730	(7,318)	406,163
Archives	Fund		23,810			23,810
			383,561	53,730	(7,318)	429,973
				Income
			At	and gains		At 31
		1	January	on		December
			2020	investments f	Expendi/um	2020
Patrimony	Fund		341,021	27,842	(10,012)	350,751
Amhives	Fund		23,810			23,810
			365,731	27,842	(10,012)	383,561

							2021	2020
							6
Balance	brought	forward at 1 January 2021					4,453,043	4,211,707
Add: unrealised		gains					539,504	241,336
Balance	carried	forward at 31 December 2021					4,992,547	4,453,043
Designated funds
The funds ofthe Charity include the following designated						funds	which have been set aside
out ofunrestricted			funds by the trustees	for specific	purposes;
				At			Released	At 31
				1 January		New	to general	December
				2021 f	designations		fund 2	2021 6
Chapter	Fund			39,868		39,143		79,011
Entraide	Fund			391,269		58,833	(12659)	437443
Emerging	Needs	Fund		8,567,641	1,076,507		(68,617)	9,575,531
Solidarity	Fund			85,614		12,976		98,59O
Generalste Fund				1,790,000		560,000		2,350,000
				10,874,392	1,747,459		(81,276)	12,540,575
				At			Released	At 31
				1January		New	togeneral	December
				2020	deslgnetlens		fund	2020
Chapter	Fund			28,98T		10,881		39,868
Entrel de	Fund			368,323		30,946	(8,000)	391,269
Emerging	Needs	Fund		7,689,461		926,999	(48,819)	8,567,641
Solidarity	Fund			78,783		6,831		85,614
Generelete Fund				1,860,000			(T0,000)	1,790,000
				10,025,554		975,657	(126,819)	10,874,392

				Unrestricted		funds
				General		Designated	Restdcted	Endowment	Total
				fund		funds	funds	funds	2021
				E		E	E	E	E
Fund balances	at31December 2021
are represented	by:
Investments				1,092,586		12,279,033	400,885	4,992,547	18,765,051
Current assets				631,168		261,542	29,088		921,798
Creditors: amounts		falling	due within
one year				(377,709)					(377,709)
Creditors: amounts		falling	due asar
more than one year				(1,321,045)					(1,321,045)
Total net assets				25,000	12,540,575		429,973	4,992,547	17,988,095
				Unrestricted		funds
				General		Designated	Restriclsd	Endowment	Total
				fund		funds E	funds	funds	2020 f
Fund balances st31December 2020
sre represented	by:
Tangible fared assets
Investments				1,735,873		10,624,173	357,565	4,453,043	17,170,654
Cunent assets				295,404		250,219	25,996		571,619
Cmditors: amounts one year		falling	dus within	(191,267)					(191,267)
Cn:dgors: amounts		falling	due alter
mom than one year				(1,815,010)					(1,815,010)
Total net assets				25,000		10,874,392	383,561	4,453,043	15,735,996

of listed investments and ar	e as follows:
			2021	2020
			5	5
Total unreaiised gains included above:
On listed investments			7)846y738	5955010
Reconciliation ofmovements	in unrealised	gains
Unrealised gains at 1 January	2021		5,955,010	5,014,542
Add: net gains arising on revaluation arising		in the year	1,891,728	940,155
Total unreaiised gains at31	December 2021		7)846~738	5955010