##
|Trustees||Rev M Corcoran|MHM|MHM||
|---|---|---|---|---|---|
|||Rev A Mukulu
MHM||||
|||Rev J Lindero
MHM||||
|||Rev G Hastie
MHM||||
|Charity number||1148980||||
|Company|number|00487520||||
|Principal|address|Po Box3608||||
|||StJoseph's
Parish||Centre||
|||Cookham
Road||||
|||Maidenhead||||
|||SL6 7EG||||
|Auditor||Robson Laidler|Accountants||Limited|
|||Fernwood
House||||
|||Fernwood
Road||||
|||Jesmond||||
|||Newcastle
Upon|Tyne|||
|||Tyne and Wear||||
|||England||||
|||NE2 1TJ||||
|Bankers||Royal Bank of Scotland pic||||
|||62-63Threadneedle||Street||
|||London||||
|||EC1A9BD||||
|Solicitors||Pothecary
Witham||Weld||
|||70 St George's|Square|||
|||London||||
|||SW1V3RD||||
|Investment|advisors|Brewin
Dolphin|Limited|||
|||12 Smithfield
Street||||
|||London||||
|||EC1A9BD||||
|||Charles Stanley|&Co Ltd|||
|||55 Bishopsgate||||
|||London||||
|||EC2N 3AS||||
##
|||Page|
|---|---|---|
|Trustees'
report||1-5|
|Independent
auditor's|report|6-8|
|Statement offinancial|activities|9-10|
|Balance sheet|||
|Statement
ofcash flows||12|
|Notes to the financial|statements|13-21|
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|Current financial|Current financial|year|||||||
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|Total|
||||||funds|funds|||
||||||2021|2021|2021|2020|
|||||Notes||8|8|F|
|Income and endowments|||from:||||||
|Donations
and|legacies|||2|2,149,854|17,154|2,167,008|1,962,549|
|Investments||||3|1,062,457|28,324|1,090,781|1,008,525|
|Other income|||||4,295||4,295|2,599|
|Total income|||||3,216,606|45,478|3,262,084|2,973,673|
|~E*
dit|||||||||
|Raising funds||||4|187,764|15,444|203,208|169,270|
|Charitable
activities||||5|2,992,771||2,992,771|3,313,793|
|Total resources expended|||||3,180,535|15,444|3,195,979|3,483,063|
|Net gains/(losses)||on investments|||4,230,795|47,577|4,278,372|1,705,431|
|Net incoming|resources||before transfers||4,266,866|77,611|4,344,477|1,196,041|
|Gross transfers|between||funds||(34,275)|34,275|||
|Net movement|in|funds|||4,232,591|111,886|4,344,477|1,196,041|
|Fund balances|at 1 January 2021||||49,739,693|768,103|50,507,796|49,311,755|
|Fund balances|at|31 December 2021|||53,972,284|879,989|54,852,273|50,507,796|
##
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##
|Prior financial|year|||||||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|
||||||funds|funds||
||||||2020|2020|2020|
|||||Notes|E|E|E|
|Income and endowments|||from|||||
|Donations
and|legacies|||2|1,938,961|23,588|1,962,549|
|Investments||||3|990,740|17,785|1,008,525|
|Other income|||||2,599||2,599|
|Total income|||||2,932,300|41,373|2,973,673|
|~E*
dit||||||||
|Raising funds||||4|160,043|9,227|169,270|
|Charitable
activities||||5|3,313,793||3,313,793|
|Total resources expended|||||3,473,836|9,227|3,483,063|
|Net gains/(losses)
on investments|||||1,668,301|37,130|1,705,431|
|Net incoming|resources|before transfers|||1,126,765|69,276|1,196,041|
|Gross transfers|between|funds|||59,762|(59,762)||
|Net movement|in funds||||1,186,527|9,514|1,196,041|
|Fund balances|at 1 January||2020||48,553,166|758,589|49,311,755|
|Fund balances|at 31 December 2020||||49,739,693|768,103|50,507,796|
##
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##
||||||2021|2020|
|---|---|---|---|---|---|---|
|||||Notes|6||
|Fixed assets|||||||
|Tangible assets||||10|4,983,312|4,986,344|
|Investment|properties|||11|2,480,000|2,480,000|
|Investments||||12|45,083,875|40,039,332|
||||||52,547,187|47,505,676|
|Current assets|||||||
|Debtors||||13|665,797|336,260|
|Cash at bank and||in|hand||2,802,625|3,778,746|
||||||3,468,422|4,115,006|
|Creditors:|amounts||falling due within||||
|one year||||14|(1,163,336)|(1,112,886)|
|Net current|assets||||2,305,086|3,002,120|
|Total assets less||current liabilities|||54,852,273|50,507,796|
|Income funds|||||||
|Restricted|funds|||15|879,989|768,103|
|Unrestricted|funds||||53,972,284|49,739,693|
||||||54,852,273|50,507,796|
##
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||||||2021|2020|
|---|---|---|---|---|---|---|
|||||Notes|6||
|Cash flows from operating||activities|||||
|Cash absorbed
by operations||||18|(1,300,731)|(1,227,397)|
|Investing|activities||||||
|Purchase|oftangible fixed assets|||||(14,249)|
|Purchase|of investments||||(7,750,846)|(9,344,816)|
|Proceeds|on disposal
of investments||||6,984,675|8,005,079|
|Investment|income received||||1,090,781|974,037|
|Net cash|generated
from/(used||in)||||
|investing|activities||||324,610|(379,949)|
|Net cash|used in financing|activities|||||
|Net decrease
in cash and||cash|equivalents||(976,121)|(1,607,346)|
|Cash and|cash equivalents|at beginning||ofyear|3,778,746|5,386,092|
|Cash and|cash equivalents|at end of||year|2,802,625|3,778,746|
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|||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||funds|funds||funds|funds||
|||||2021
6|2021
6|2021|2020
F|2020
f|2020f|
|Donations||||788,603|17,154|805,757|552,116|23,588|575,704|
|Legacies|receivable|||269,103||269,103|163,493||163,493|
|Masses said||||20||20|9,765||9,765|
|Salanes,
pensions|stipends||and||||1,497||1,497|
|Contributions||from||||||||
|overseas||||1,092,128||1,092,128|1,212,090||1,212,090|
|||||2,149,854|17,154|2,167,008|1,938,961|23,588|1,962,549|
|Investments||||||||||
|||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|||||funds|funds||funds|funds||
|||||2021|2021|2021|2020|2020|2020|
|||||6|6||6|||
|Dividends|received|||1,002,320|28,324|1,030,644|951,118|17,785|968,903|
|Rents received||||60,102||60,102|36,515||36,515|
|Interest receivable||||35||35|3,107||3,107|
|||||1,062,457|28,324|1,090,781|990,740|17,785|1,008,525|
##
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|||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
|||funds|funds||funds|funds||
|||2021|202'I|2021|2020|2020|2020|
|||F|6|6|||f|
|Fundraising|costs|5,153||5,153|4,194||4,194|
|Investment|management|||||||
|costs||182,611|15,444|198,055|155,849|9,227|165,076|
|||187,764|15,444|203,208|160,043|9,227|169,270|
##
||Pastoral|Pastoral|
|---|---|---|
||activities|activities|
||2021|2020|
||f||
|Depreciation
and impairment|3,032|13,513|
|Rent and rates|42,542|34,734|
|Insurance|4,680|8,189|
|Light and heat|14,616|17,870|
|Telephone
and communication|26,265|25,458|
|Printing,
postage and stationery|9,868|6,137|
|Repairs and maintenance|31,849|34,773|
|Sundries|19,416|31,918|
|Exchange gains
/ losses|79,102|(8,093)|
|Visitation|7,642|11,600|
|Trustee allowances
and medical|19,324|44,066|
|Trustee travel expenses|12,915|10,718|
|General chapter and assemblies|423|46,430|
|Travel and meeting expenses|93,871|109,575|
|Office running
costs|5,053|6,837|
|Rectors expenses|58,710|64,168|
|Other charitable
expenditure|5,631|6,498|
||434,939|464,391|
|Grant funding
of activities (see note 6)|2,424,258|2,636,423|
|Share of support costs (see note 7)|133,574|212,979|
||2,992,771|3,313,793|
##
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##
|||||||||Pastoral|Pastoral|
|---|---|---|---|---|---|---|---|---|---|
|||||||||activities|activities|
|||||||||2021|2020|
|||||||||6|6|
||Grants to|institutions.||||||||
||Mission fund|||||||295,553|607,499|
||Missions support|||||||1,071,270|827,450|
||New Regions||support||||||51,653|
||Asian and|African candidates||||||803,094|864,712|
||Renewal courses and further|||education||||80,198|124,816|
||Donations|||||||174,143|160,293|
|||||||||2,424,258|2,636,423|
|7|Support costs|||||||||
|||||Support|Governance|2021|Support|Governance|2020|
|||||costs|costs||costs|costs||
|||||6|6|||f||
||Staff costs|||63,929||63,929|66,285||66,285|
||Professional||fees|54,799||54,799|127,597||127,597|
||Audit fees|||12,600||12,600|12,600||12,600|
||Accountancy||and advice|2,246||2,246|6,497||6,497|
|||||133,574||133,574|212,979||212,979|
||Analysed|between||||||||
||Charitable|activities||133,574||133,574|212,979||212,979|
##
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##
|The average
|monthly
number ofemployees
during
t|he year was:||
|---|---|---|---|
|||2021|2020|
|||Number|Number|
|Administrative|staff|||
|Employment|costs|2021f|2020|
|Wages and salaries||55,144|60,923|
|Social security|costs|5,418|2,553|
|Other pension|costs|3,367|2,809|
|||63,929|66,285|
##
|Tangible fixed assets|||||
|---|---|---|---|---|
|||Freehold
land Motor vehicles||Total|
|||and buildingsf|f||
|Cost|||||
|At 1 January 2021||4,974,217|42,707|5,016,924|
|At 31 December 2021||4,974,217|42,707|5,016,924|
|Depreciation
and impairment|||||
|At 1 January 2021|||30,580|30,580|
|Depreciation
charged|in the year||3,032|3,032|
|At 31 December 2021|||33,612|33,612|
|Carrying
amount|||||
|At 31 December 2021||4,974,217|9,095|4,983,312|
|At 31 December 2020||4,974,217|12,127|4,986,344|
##
##
|Fixed asset invest|ments||||
|---|---|---|---|---|
|||Listed|Other|Total|
|||investments|investments||
|||6|||
|Cost or valuation|||||
|At 1 January 2021||39,903,062|136,270|40,039,332|
|Additions||7,750,846||7,750,846|
|Valuation
changes||4,278,372||4,278,372|
|Disposals||(6,984,675)||(6,984,675)|
|At 31 December 2021||44,947,605|136,270|45,083,875|
|Carrying
amount|||||
|At 31 December 2021||44,947,605|136,270|45,083,875|
|At 31 December 2020||39,903,062|136,270|40,039,332|
||||2021|2020|
|Other investments|comprise:|Notes|6||
|Unlisted
investments|||136,270|136,270|
|13|Debtors||||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||Amounts
falling due||within|one year:||f|
||Other debtors||||665,797|336,260|
|14|Creditors: amounts||falling due within one year||||
||||||2021|2020|
||||||F|6|
||Other taxation|and social security||||1,553|
||Held for Missions||||1,025,691|977,756|
||Other creditors||||97,760|94,447|
||Accruals and deferred||income||39,885|39,130|
||||||1,163,336|1,112,886|
##
##
##
|||||||||Movement|in|funds||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||Balance at
1January
2021||Incoming
resources||Resources
expended||Transfers
f.|Revaluations,
gains and
losses
f||Balance at
31December
2021f|
||Fent travel||||113,520|17,154||(12,800)|||||117,874|
||New members||||644,194|28,324||(2,644)||34,275||47,577|751,726|
||Ward memorial||||10,389||||||||10,389|
||||||768,103|45,478||(15,444)||34,275||47,577|879,989|
||Fent Travel|||||||||||||
||The Fent Travel|fund|represents||money received for the purchase
oftransport
in Mission areas.|||||||||
||Ward Memorial|||||||||||||
||The Ward Memorial||fund represents
money|||left to the|Society for non-administrative|||||purposes||
||New Members|Retirement||fund||||||||||
||The
New
Members||Retirement||fund
represents
monies|||received|for|the provision||of funding|members|
||joining the Society in||what|were|Mission areas.|||||||||
|16|Analysis
of net|assets between|||funds|||||||||
||||Unrestricted
Restricted|||||Total|Unrestricted||Restricted||Total|
||||||funds|funds||||funds||funds||
||||||2021|2021||2021
f||2020
f||2020
f|2020
f|
||Fund balances at 31|||||||||||||
||December 2021 are|||||||||||||
||represented
by:|||||||||||||
||Tangible assets|||4,983,312|||4,983,312||4,986,344||||4,986,344|
||Investment
properties|||2,480,000|||2,480,000||2,480,000||||2,480,000|
||Investments|||44,345,937||737,938|45,083,875||39,399,978|||639,354|40,039,332|
||Current assets/|||||||||||||
||(liabilities)|||2,163,035||142,051|2,305,086||2,873,371|||128,749|3,002,120|
|||||53,972,284||879,989|54,852,273||49,739,693|||768,103|50,507,796|
##
##
##
##
|Cash generated
from operations|Cash generated
from operations|Cash generated
from operations|||2021|2020|
|---|---|---|---|---|---|---|
|Surplus for the year|||||4,344,477|1,196,041|
|Adjustments
for:|||||||
|Investment
income|recognised|in statement|offinancial|activities|(1,090,781)|(1,008,525)|
|Fair value gains and|losses on|investments|||(4,278,372)|(1,705,431)|
|Depreciation
and impairment
oftangible fixed assets|||||3,032|13,513|
|Movements
in working capital:|||||||
|(Increase)/decrease|in debtors||||(329,537)|187,523|
|Increase
in creditors|||||50,450|89,482|
|Cash absorbed
by|operations||||(1,300,731)|(1,227,397)|