|Reports|Reports|||
|---|---|---|---|
|Reference and administrative||details||
|ofthe charity,<br>its trustees and||advisers|1|
|Trustees'<br>report||||
|Independent<br>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<br>Purathur|Sister Pushpa<br>Purathur|(Superior General)|
|---|---|---|---|---|---|
||||Sister Mary McLaughlin|||
||||Sister Maureen<br>O'Brien|||
||||Sister Valerie Miranda|||
||||Peter Cousins FCA|(appointed 3September||
||||2021)|||
||||Sister Zeenat Shangara||(resigned 9s|
||||September 2021)|||
||Bursar General||Sister Josephine<br>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|||





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||||||||||Total|
|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Restricted|Endowment|funds|
|||||||funds|funds|fund|2021|
|||||Notes|||2|2|6|
|Income and expenditure||||||||||
|Income from:||||||||||
|Donations|||||1|42,963|||42,$63|
|Investments|||||2|435,365|10,185||446,560|
|Other|||||3|1,763|225||1,988|
|Total Income||||||480,091|10,410||490,501|
|Expenditure<br>on charitable||activities:||||||||
|Funding Generalate|||||4|116,173|||116,173|
|Grants and donations|||||5|(34,704)|7,318||(27,386)|
|support costs|||||6|41,343|||41,343|
|Total expenditure||||||122,812|7,318||130,130|
|Net income (expenditure)||before net||||||||
|Investment<br>gains||||||357,279|3,092||360,371|
|Net gains on the revaluation||and|disposal of|||||||
|listed investments|||||11|1,308,904|43,320|539,504|1,891,728|
|Net Income and net movement|||In funds||7|1,666,183|46,412|539,504|2,252,09$|
|Reconcglatlon<br>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<br>f|fund<br>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<br>on:||||||||||
|Funding<br>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<br>f|2020<br>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:<br>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:<br>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<br>fund||16||4,992,547||4,453,043|
|Unrestricted<br>funds|||||||
|.Designated<br>funds||17|||||
|..Chapter fund|||79,011||39,868||
|..Entrside<br>fund|||437,443||391,269||
|.. Emerging<br>Needs fund|||9,575,531||8,567,641||
|.. Solidarity<br>fund|||98,590||85,614||
|..Gsnsralate<br>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<br>activities:||||||||
|Nst cash used provided<br>by operating<br>activities|||||A|(567,666)|(207,497)|
|Cash Inflow from Investing|activities:|||||||
|Dividends<br>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<br>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<br>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|



## 

|A|Reconciliation of|net|income|to net cash provided|to net cash provided|by operating|activities||
|---|---|---|---|---|---|---|---|---|
||||||||2021<br>f|2020<br>F-|
||Net income (as per|the|statement|of|financial activities)||2,252,099|1,108,004|
||Adjustments<br>for:||||||||
||Gains on investments||||||(2,048,781)|(940,168)|
||Dividends<br>and interest from investments||||||(445,550)|(387,849)|
||Foreign exchange<br>(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<br>f|2020<br>F-|
|---|---|---|---|
|Cash|at bank and in hand|891,183|557,847|
|Total|cash and cash equivalents|891,183|557,847|





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## 



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## 



## 

## 

## 

## 

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## 

## 



## 

## 

## 

|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<br>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<br>fund donations||7,318|7,318|—|10,012|10,012|
|Enlreide fund dcnelicns|12,659||12,659|8,000|—|8,000|
|Emerging<br>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<br>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<br>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<br>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<br>at cost||345,616|307,432|
|Disposal<br>in year||(800,000)||
|Unrealised<br>investment<br>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<br>investment|Other<br>investment|gains|gains|of F157,053 (2020 -|of F157,053 (2020 -|595,374) represent|595,374) represent|595,374) represent|595,374) represent|gains|in respect<br>of|in respect<br>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<br>held|on behalf the|||Congregation|ofthe Daughters|||ofthe Cross|||||
||of Liege||||||||||366,868|165,800||
||||||||||||377,709|191,267||



## 



## 

## 

## 

|||||||
|---|---|---|---|---|---|
|Creditor|s:<br>amounts<br>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<br>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<br>funds|||||||||
|The funds ofthe Charity include the following<br>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<br>f|designations||fund<br>2|2021<br>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<br>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<br>E|funds|funds|2020<br>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:<br>amounts<br>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<br>and ar|e as follows:||||
|---|---|---|---|---|
||||2021|2020|
||||5|5|
|Total unreaiised<br>gains included above:|||||
|On listed investments|||7)846y738|5955010|
|Reconciliation<br>ofmovements|in unrealised|gains|||
|Unrealised<br>gains at 1 January|2021||5,955,010|5,014,542|
|Add: net gains arising on revaluation<br>arising||in the year|1,891,728|940,155|
|Total unreaiised<br>gains at31|December 2021||7)846~738|5955010|



## 

## 

## 

##