| Page | |||
|---|---|---|---|
| Reference and administrative | details ofthe CIO„its Trustees and advisers | ||
| Trustees' report |
2-5 | ||
| Independent auditor's |
report | on the financial statements | 6-9 |
| Statement offinancial | activities | 10 | |
| Balance sheet | |||
| Statement ofcash flows | 12 | ||
| Notes to the financial | statements | 13-25 |
| Trustees | Sister Anne | Tynan | ||||
|---|---|---|---|---|---|---|
| Sister Marie-Line | Monique | Rioux | ||||
| Sister Anne | Marie | Eden | ||||
| Sister Marie | Kiernan | |||||
| Victor Hanson | ||||||
| Regional Superior | Sister Anne | Tynan | ||||
| Charity registered | ||||||
| number | 1172513 | |||||
| Principal office | StJoseph's | Convent | ||||
| The Hawthorns | ||||||
| Erdington Road |
||||||
| Aldridge | ||||||
| Walsall | ||||||
| WS9 8UH | ||||||
| Independent | auditor | Dains LLP | ||||
| StJohn's Court | ||||||
| Wiltell Road | ||||||
| Lichfield | ||||||
| Staffordshire | ||||||
| WS14 9DS | ||||||
| Bankers | National Westminster |
Bank | Plc | |||
| 8 Market Street | ||||||
| Tamworth | ||||||
| Staffordshire | ||||||
| B797LS | ||||||
| Solicitors | Glover Priest Solicitors | Limited | ||||
| T/a Argyles | Solicitors | |||||
| 43Albert Road | ||||||
| Tamworth | ||||||
| Staffordshire | ||||||
| B797JS | ||||||
| Investment | Fund | Investec Plc | ||||
| Managers | Colmore Plaza | |||||
| Colmore Circus | ||||||
| Birmingham | ||||||
| B46AT |
| Unrestricted | Total | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2021 | 2021 | 2020 | ||||
| Note | E | E | ||||
| Income from: | ||||||
| Donations and |
legacies | 102,499 | 102,499 | 127,053 | ||
| Investments | 133,090 | 133,090 | 131,029 | |||
| Other income | 2,850 | |||||
| Total income | 235,589 | 235,589 | 260,932 | |||
| Expenditure on: |
||||||
| Raising funds | 56,689 | 56,689 | 56,811 | |||
| Charitable activities |
237,157 | 237,157 | 233,178 | |||
| Total expenditure | 293„846 | 293,846 | 289,989 | |||
| Net expenditure | before net gains on investments | (58,257) | (58,257) | (29,057) | ||
| Net gains/(losses) | on investments | 672,828 | 672,828 | 161,462 | ||
| Net movement | in | funds before other recognised | ||||
| gains/(losses) | 614„571 | 614,571 | 132,405 | |||
| Other recognised | gains/(losses): | |||||
| Movement in foreign exchange |
(139,967) | (139,967) | 99,848 | |||
| Net movement | in | funds | 474,604 | 474,604 | 232,253 | |
| Reconciliation | of | funds: | ||||
| Total funds brought | forward | 6„714,234 | 6,714,234 | 6,481,981 | ||
| Net movement | in funds | 474,604 | 474,604 | 232,253 | ||
| Total funds carried forward | 7,188,838 | 7,188,838 | 6,714,234 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Note | |||||||
| Cash flows from operating | activities | ||||||
| Net cash | used in operating |
activities | 17 | (184,461) | 29,016 | ||
| Cash flows from investing | activities | ||||||
| Dividends, | interests and rents from investments |
133,090 | 131,029 | ||||
| Purchase | oftangible fixed assets |
(7,177) | |||||
| Proceeds | from sale of investments | 890,244 | 1,273,178 | ||||
| Purchase | of investments | (667,375) | (1,528,849) | ||||
| Net cash | provided by/(used in) investing |
activities | 355,959 | (131,819) | |||
| Change | in cash and cash | equivalents in |
the year | 171,498 | (102,803) | ||
| Cash and | cash equivalents | at the beginning | ofthe year | 278,484 | 381,287 | ||
| Cash and | cash equivalents | at the end of | the year | 18 | 449,982 | 278,484 | |
| The notes | on pages 13to 25 form part ofthese financial statements |
| Unrestricted | Total | ||||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2021 | 2021 | ||||
| Pensions | and salaries | 102,499 | 102,499 | ||
| Unrestricted | Total | ||||
| funds | funds | ||||
| 2020 | 2020 | ||||
| Gifts and | donations | 17,687 | 17,687 | ||
| Pensions | and salaries | 109,366 | 109,366 | ||
| 127,053 | 127,053 | ||||
| 4. | Investment | income |
| Unrestricted | Total | |||||||
|---|---|---|---|---|---|---|---|---|
| funds | funds | |||||||
| 2021 | 2021 | |||||||
| F | ||||||||
| Income | from | UK | 8 | Ireland | listed | investments | 133,090 | 133,090 |
| Unrestricted | Total | |||||||
| funds | funds | |||||||
| 2020 | 2020 | |||||||
| E | ||||||||
| income | from | UK | 8 | Ireland | listed | investments | 131,029 | 131,029 |
| Profit | on | sale | offixed | assets | ||
|---|---|---|---|---|---|---|
| Unrestricted | Total | |||||
| funds | funds | |||||
| 2020 | 2020 | |||||
| F | ||||||
| Profit | on | sale | offixed | assets | 2,850 | 2,850 |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2021 | 2021 | |||
| F | ||||
| Investment | management | fees | 56,689 | 56,689 |
| Unrestricted | Total | |||
| funds | funds | |||
| 2020 | 2020 | |||
| Investment | management | fees | 56,811 | 56,811 |
| Activities | ||
|---|---|---|
| undertaken | Governance | Total |
| directly | costs | funds |
| 2021 F |
2021 | 2021f |
| 176,227 | 4,470 | 180,697 |
| 55,189 | 1,271 | 56,460 |
| 231,416 | 5,741 | 237,157 |
| Activities | |||
|---|---|---|---|
| undertaken | Governance | Total | |
| directly | costs | funds | |
| 2020 | 2020 | 2020 | |
| E | |||
| England | 167,533 | 2,000 | 169,533 |
| Ireland | 63,194 | 451 | 63,645 |
| Total 2020 | 230,727 | 2,451 | 233,178 |
| Total | |||||
|---|---|---|---|---|---|
| England | Ireland | funds | |||
| 2021 | 2021 | 2021 | |||
| E | E | ||||
| Depreciation | 6,952 | 777 | 7,729 | ||
| Grants and | donations | 4,248 | 507 | 4,755 | |
| Community | expenses | 18,184 | 6,369 | 24,553 | |
| Travel and | retreats | 4,357 | 450 | 4,807 | |
| Other regional expenses | 2,004 | 1,232 | 3,236 | ||
| Nursing home costs |
140,482 | 45,854 | 186,336 | ||
| 176,227 | 55,189 | 231,416 | |||
| Total | |||||
| England | Ireland | funds | |||
| 2020 | 2020 | 2020 | |||
| F | |||||
| Depreciation | 5,878 | 952 | 6,830 | ||
| Grants and | donations | 12,638 | 920 | 13,558 | |
| Community | expenses | 13,993 | 13,853 | 27,846 | |
| Travel and retreats | 4,288 | 4,288 | |||
| Other regional expenses | 6,865 | 1,056 | 7,921 | ||
| Nursing home costs |
123,871 | 46,413 | 170,284 | ||
| 167,533 | 63,194 | 230,727 | |||
| Analysis ofsupport | costs | ||||
| Total | Total | ||||
| funds | funds | ||||
| 2021 | 2020f | ||||
| Auditor's remuneration |
2,000 | 2,000 | |||
| Legal and professional | costs | 3,741 | 451 | ||
| 5,741 | 2,451 |
| This is stated | after charging: | after charging: | ||
|---|---|---|---|---|
| Depreciation | oftangible | fixed assets | 7,729 | 6,830 |
| Auditor's remuneration |
- audit | 2,000 | 2,000 |
| Motor | Fixtures and | ||
|---|---|---|---|
| vehicles | fittings | Total | |
| F | F | ||
| Cost | |||
| At 1 January 2021 | 50,177 | 10,501 | 60,678 |
| At 31 December 2021 | 50,177 | 10,501 | 60,678 |
| Depreciation | |||
| At 1 January 2021 | 22,703 | 1,891 | 24,594 |
| Charge for the Year | 6,868 | 861 | 7,729 |
| At 31 December 2021 | 29,571 | 2,752 | 32323 |
| Net book value | |||
| At 31 December 2021 | 20,606 | 7„749 | 28,355 |
| At 31 December 2020 | 27,474 | 8,610 | 36,084 |
| Listed | Cash trading | |||
|---|---|---|---|---|
| investments | accounts | Total | ||
| F | ||||
| Market value | ||||
| At 1 January 2021 | 6„367,006 | 182,055 | 6,549,061 | |
| Additions | 667,375 | 840,574 | 1,507,949 | |
| Disposals | (897,263) | (672,824) | (1,570,087) | |
| Revaluations | 672,828 | 672,828 | ||
| Foreign exchange | movement | ('l33,004) | (2,182) | (135,186) |
| At 31 December 2021 | 6,676,942 | 347,623 | 7,024,565 | |
| Net book value | ||||
| At 31 December 2021 | 6,676,942 | 347,623 | 7,024,565 | |
| At 31 December 2020 | 6,367,006 | 182,055 | 6,549,061 |
| 2021 | 2020f | |
|---|---|---|
| Prepayments | 41„046 | 41,221 |
| 41,046 | 41,221 |
| 2021 | 2020 | ||
|---|---|---|---|
| Other creditors | 1,075 | ||
| Accruals and deferred | income | 9„116 | 11,209 |
| 10,191 | 11,209 |
| Balance at | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at 1 | 31 | ||||||||
| January | Gains/ | December | |||||||
| 2021 | Income | Expenditure | (Losses) | 2021 | |||||
| E | F | ||||||||
| Unrestricted funds |
|||||||||
| Designated funds |
|||||||||
| Sisters' | personal | funds | 8,462 | 8,462 | |||||
| General | funds | ||||||||
| General | Funds | 6,705,772 | 235,589 | (293,846) | 532,86'I | 7,180,376 | |||
| Total Unrestricted | funds | 6,714,234 | 235,589 | (293,846) | 532,861 | 7,188,838 | |||
| Statement offunds | - prior year | ||||||||
| Balance at | |||||||||
| Balance at | 31 | ||||||||
| 1January | Gains/ | December | |||||||
| 2020 | Income | Expenditure | (Losses) | 2020 | |||||
| F | E | E | |||||||
| Unrestricted funds |
|||||||||
| Designated funds |
|||||||||
| Sisters' | personal | funds | 8,462 | 8,462 | |||||
| General | funds | ||||||||
| General | Funds | 6,473,519 | 260,932 | (289,989) | 261,310 | 6,705,772 | |||
| Total Unrestricted | funds | 6,481,981 | 260,932 | (289,989) | 261,310 | 6,714,234 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | 31 | |||||
| January | Gains/ | December | ||||
| 2021 | Income | Expenditure | (Losses) | 2021 | ||
| F | F | F | E | |||
| Designated | funds | 8,462 | 8,462 | |||
| General funds | 6,705,772 | 235,589 | (293,846) | 532„861 | 7,180,376 | |
| 6,714,234 | 235,589 | (293,846) | 532,861 | 7,188,838 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at | 31 | |||||
| 1January | Gains/ | December | ||||
| 2020 | Income | Expenditure | (Losses) | 2020 | ||
| E | F | E | ||||
| Designated | funds | 8,462 | 8,462 | |||
| General funds | 6,473,519 | 260,932 | (289,989) | 261,310 | 6,705,772 | |
| 6,481,981 | 260,932 | (289,989) | 261,310 | 6,714,234 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2021 | ||
| E | |||
| Tangible | fixed assets | 28,355 | 28,355 |
| Fixed asset investments | 7,024,565 | 7,024,565 | |
| Current | assets | 146,109 | 146,109 |
| Creditors | due within one year | (10,191) | (10„191) |
| Total | 7,188,838 | 7,188,838 |
| Analysis | of net assets between funds - prior year |
||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| 2020 | 2020 | ||
| F | |||
| Tangible | fixed assets | 36,084 | 36,084 |
| Fixed asset investments | 6,549,061 | 6,549,061 | |
| Current | assets | 140,298 | 140,298 |
| Creditors | due within one year | (11,209) | (11,209) |
| Total | 6,714,234 | 6,714,234 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| F | |||||
| Net income for the | year (as per Statement | of Financial Activities) | 614,571 | 132,405 | |
| Adjustments for: |
|||||
| Depreciation charges |
7,729 | 6,830 | |||
| (Losses)/gains on investments |
(672,828) | 24,830 | |||
| Dividends, interests |
and rents | from investments | (133,090) | (131,029) | |
| Decrease in debtors |
175 | 389 | |||
| Decrease in creditors |
(1,018) | (211) | |||
| Net cash provided | by/(used | in) operating | activities | (184,461) | 33,214 |
| 2021 | 2020 | ||
|---|---|---|---|
| F | |||
| Cash | in hand | 105,063 | 99,077 |
| Notice | deposits (less than 3 months) | 344,919 | 179,407 |
| Total | cash and cash equivalents | 449,982 | 278,484 |
| At 1 | At 31 | |||||||
|---|---|---|---|---|---|---|---|---|
| January | December | |||||||
| 2021 | Cash flows | 2021 | ||||||
| E | ||||||||
| Cash | at | bank | and | in | hand | 99,077 | 5,986 | 105,063 |