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2021-12-31-accounts

111 ANNUAL ,REPORT ,¢t2021- ARCHDIOCESE SOUTHWARK

IMPACT REPORT

IMPAcr REPORT •1 35

ANNUAL ACCOUNTS

Archdiocesan Funds
Unrestricted Restricted Parish 2021 2020
Funds Funds Funds
Notes
Donations and legacies
Collections and donations 284,968 582,213 17,008,339 17,875,520 17,215,966
Grants receivable 1.3 283,705 392,302 676,007 1,219,814
Legacies 58,900 235,544 1,261,000 1,555,444 1,290,016
Investment
income
Investment
income and
Interest receivable 796,194 235,140 1,031,334 980,660
Rents receivable 376,631 1,243,927 1,620,558 1,455,318
Other Trading Activities
Rents receivable (occasional lettings) 820,169 820,169 656,941
Charitable
activities
Other income from charitable 823,090 569,012 1,392,102 1,452,428
activities (inc Repositories)
Other
Profit on disposal offixed assets 969,149 367,844 1,336,993 207,427
TOTAL INCOME 3,59,63 8, 5 21 77 6,308,», 8,5 0
Raising funds 106,352 35,294 88,253 229,899 222,579
Charitable
activities		 3&,4 6,519,868 1,478,171 18,075,686 26,073,725 26,977,047
TOTAL EXPENDITURE 6,626,220 1,513,465 18,163,939 26,303,624 27,199,626
Archdiocesan Funds
Unrestricted Restricted Parish 2021 2020
Funds Funds Funds Total Total
f
Notes
(3,033,583) (695,708) 3,133,194 4,503 (2,161,056)
Net gains/(Iossesj on investments 2,949,837 1,321,241 1,528,979 5,800,057 4,209,070
Net gains on investment properties 280,147 280,147 10,102,804
NET (EXPENDITURE)/INCOME 196,401 625,533 5,262,773 6,084,707 11,590,818
Transfers 2,073,862 (2,073,862j
NET MOVEMENT IN FUNDS 2,270,263 625,533 3,188,911 6,084,707 11,590,818
RECONCILIATION OF FUNDS
Funds brought forward 7,633,336 11,344,833 81,739,434 100,717,603 89,12.6,785
FUNDS CARRIED FORWARD f9,903,599 f11,970,366 f84,928,345 f106,802,310 f100,717,6II3
2021 2020
Notes
FIXEDASSETS
Tangible fiixed assets 39,374,054 38,907,742
Investments 63,983,668 60,540,231
103,357,722 99,447,973
CURRENT ASSETS
Debtors 10 2,713,399 3,464,932
Cash at bank and in hand 13,734,786 10,245,269
16,448,185 13,710,201
CREDIlQRS: Amounts falling
due within one year 11 (13,003,597) (12,440,571)
NET CURRENT ASSETS 3,444,588 1,269,630
NET ASSETS f106,N2,310 f100,717,603
FUNDS
Unrestricted 12 8,967,956 7,633,336
Restricted 15 11,970,366 13,396,309
Designated 13 935,643
Parish Funds 14 84,928,345 81,739,434
f106,N2,310 f100,717,603

2021 2020
f f
Cash flows from operating
activities
Net cash provided
by (used in) operating		 activities: (see below) 3,489,517 1,441,442
Cash flows from investing
activities
Dividends,
interest and rents from investments		 1,031,334 980,660
Purchase ofproperty (2,167,469) (1,231,672)
Proceeds from sale ofproperty 2,478,487 1,642,810
Purchase ofinvestments (4,972,506) (4,979,314)
Proceeds from sale ofinvestments 7,955,701 6,232,221
Net cash provided
by (used in) investing		 activities 4,325,547 2,644,705
Change
in cash and cash equivalents		 in reporting period 3,489,517 3,922,099
Cash and cash equivalents
at beginning		 of reporting period 10,245,269 6,323,170
Cash and cash equivalents
at end ofreporting		 period 13,734,786 10,245,269
Reconciliation ofnet incoming resources to cash flow from
operatiing activities
Net
income for reporting
period (as in		 SOFA) 6,084,707 11,590,818
Adjustments
for:
Depreciation 559,263 560,565
Returns on investments (5,054,818) (11,068,819)
Dividends (1,031,334) (980,660)
Net gain on Disposal ofschool sites and Fixed Assets 1,336,993 207,421
Net gain on Disposal of investment Properties 280,147 62,453
(Increase)/Decrease
in Debtors		 751,533 608,250
Increase/(Decrease)
in Creditors		 563,026 6,401,708
Net Cash provided
by/ (used in) operating		 activities 3,489,517 1,458,812

2021
Arising oo quoted investments 549,418 949,551
Bank interest 263 2,857
Other interest and investment income 246,513 28,252
796,194 980,660
ther income
Government grants
Parish and Commission recharges 510,786 478,189
Education
income		 364,105 162,425
Other income 64,092. 276,072
Other parish income 453,119 535,742
1,392,102 1,452,428

2021 2021 2021
Unrestricted Restricted Parochial 2021
Funds Funds Funds Total
Raising Funds
Investment Management Fees 93,569 35,294 35,294 164,157
Fundraising &,Social 12,783 52,959 65,742
106,352 35,294 88,253
2021 2021 2021 2021
Sta8Costs Other Depreciation Total
E E
Raising funds 229,899 229,899
Direct Charitable Expenditure
Costs in furtherance ofobjects 5,016,197 20,775,724 281,804 26,073,725
(see also Note 5)
5,016,197 21,005,623 281,804 26,303,624

2020 2020
Unrestricted Restricted Parochial 2020
Funds Funds Funds Total
Raising Funds
investment Management Fees 75,814 28,511 28,511 132,836
Fundraising 5Social 10,666 79,077 89,743
28,511 107,588 222,579
2020 2020 2020
Staff Costs Other Depreciation
f f
Raising funds 222,579 222,579
Direct Charitable Expenditure
Costs in furtherance ofobjects 5,069,279 21,665,700 242,068 26,977,047
(see also Note 4)
5,069,279 21,888,2'79 242,068 2'7,199,626
2021 2020
Direct charitable expenditure includes: f
Feestothe auditors (including VAT):
-Audit 60,000 58,038
-Other

2021 2020
Commissions
consist of:
Justice and Peace
Liturgy
Music
Ecumenical 12,000 11,484
Schools 767,507 915,690
Agency for Evangelisation and Catechesis (formerly Centre for Catholic Formation) 243,363 120,370
Other 8,049
1,022,870 1,055,593
Unrestricted Restricted Parochia
I		 2021 2020
Funds Funds Funds Total Total
Provision ofWorship
Upkeep ofBuildings:
-Church Supplies 5,027 1,920,852 1,925,879 1,736,188
-Church Repairs 152,892 4,851,994 5,004,886 6,249,404
- Hall Expenses 274,359 274,359 278,378
-Other (838,665)
Other Parish Expenses 2,453,654 2,453,654 1,445,553
Depreciation 13,918 6,052 261,834 281,804 318,497
Support Costs allocated 896,346 896,346 608,924
1,068,183 6,052 9,762,693 10436,928 9,798,279
Clergy & Parish Support
Priests' Training 42,593 42,593 419,411
Clergy Support 577,379 1,221,487 793,897 2,641,087 2,047,852
Clergy
&,Church		 Support:
-Household 1,524,370 1,524,370 1,730,650
-House Repairs &,Equipment 212,768 212,768 145,549
-Salaries
&,Wages		 2,205,393 2,205,393 2,700,496
-Property costs 225,000 225,000 754,966
-Offerings paid to Priests 1,873,961 1,873,961 1,569,018
-Other 239,975 239,975 183,021
Support Costs allocated 1,254,832 1,254,832 852,491
1+80,535 1,221,487 7,117,957 10,219,979 10,403,454

Pastoral Care &Community Pastoral Care &Community
Support
Commissions
(see above)		 1,022,S70 1,022,S70 1,055,593
Safeguarding 226,787 226,787 266,440
Chaplaincies 102,982 102,982 143,748
Marriage Tribunal 149,476 149,476 109,657
Education 8 Training 250,632 250,632 78,138
Special coilections for 3rd parties 101,339 506,640 607,979 495,119
Telephone,
stationery		 &cars 688,396 688,396 845,585
Catholic Trust England 8 Wales 229,852 229,852 193,363
Other Grants 397,604 397,604 253,242
Youth Service 84,534 84,S34 331,257
Support Costs aliocated 537,806 531,806 365,353
2404,926 250,632 1,195,036 4+98,918 4,137,495
Schools Programme
Schools building
&maintenance		 49,146 49,146 342,874
Bad Debt Provision (243,670)
Support Casts allocated 717,078 717,078 487,139
766324 766,224 2,637,819
6,519468 1,478,171 18,075,686 26,073,725 26,977,047
2020 2020 2020
Unrestricted Restricted Parochial 2020
Funds Funds Funds Total
Provision ofWorship
Upkeep ofBuildings;
- Church Supplies 1,736,188 1,736,188
- Church Repairs 5,046,072 6,249,404 5,853,139
- Hall Expenses 278,378 278,378
-Other (162,637) (729,210) (891,847)
Other Parish Expenses 1,445,553 1,445,553
Depreciation 13,918 6,052 298,527 318,497
Support Casts allacated 608,924 608,924
1,716,719 6,052 8,075,508 9,798,279

Clergy & Parish Support Clergy & Parish Support
Priests' Training 364,334 55,077 419,411
Clergy Support 560,684 1,487,168 2,047,852
Clergy
&,Church Support:
-Household 1,730,650 1,730,650
-House Repairs
&,Equipment		 48,122 97,427 145,549
-Salaries
&,Wages		 2,700,496 2,700,496
-Property costs 754,966 754,966
-Offerings paid to Priests 1,569,018 1,569,018
-Other 183,021 183,021
Support Costs allocated 852,491 852,491
1,644,318 1+51,502 6,907,634 10,403,454
Pastoral Care &Community Support
Commissions
(see above)		 1,055,593 1,600,398
Safeguarding 266,440 266,440
Chaplaincies 143,748 143,748
Marriage Tribunal 109,657 109,657
Education
&,Training		 1,868 76,270 78,138
Special collections for 3rd parties 38,564 456,555 495,119
Telephone,
stationery		 &,cars 845,585 845,585
Catholic Trust England &,Wales 193,363 193,363
Other Grants 253,242 253,242
Youth Service 331,257 331,257
Support Costs allocated 365,353 365,353
2,757,217 1W8 1,378,410 4,137,495
Schools Progra mme
Schools building
&,maintenance		 202,452 140,422 2,394,350
Bad Debt Provision (243,670) (243,670)
Support Costs allocated 487,139 487,139
445,921 140,422 2,637419
6,564,175 1,999+44 16,361,552 26,977,047

2021 2020
E
Diocesan Administration
-General 1,353,994 903,669
-Staff Costs 1,267,130 840,634
Archbishop and Area Bishops costs 495,564 310,075
Depreciation 229,374 200,510
Governance costs 60,000 59,019
3,406,062 2,313,907
Allocated as follows:
Expenditure on Charita ble Activities
Provision of Worship 896,346 608,924
Clergy and Parish Support 1,254,832 852,491
Pastoral Care and Community Support 537,806 365,3S3
Schools Programme 717,078 487,139
3,406,062 2,313,906

2021
Archdiocese Parish Total
Wages and salaries 2,45S,144 2,093,970 4,549,114
Employers National Insurance 239,154 78,591 317,745
Pension costs 122,796 26,542 149,338
2,817,094 2,199,103 5,016,197

2020
StaH Costs: Archdiocese Parish Total
Wages and salaries 2,152,485 2,464,589 4,617,074
Employers
National		 Insurance 203,062 100,236 303,298
Pension costs 132,449 16,458 148,907
2,487,996 2,581,283 5,069,279
Average number of employees
2021 2020
Number Number
Administration 18 18
Diocesan agencies 65 71
Parish employees (mainly domestic and secretarial) 271 297
354

2021 2020
Total Total
Clergy Support 424,062 410,315
Diocesan Development Fund 1,830,302 2,307,580
Episcopal Support 161,658 159,988
Net loan interest to parishes (342,160) (290,931)
2,073,862 f2,586,952
The transfers
from parish funds		 The transfers
from parish funds		 represent charges made to the parishes
for defraying
central diocesan		 charges made to the parishes
for defraying
central diocesan		 charges made to the parishes
for defraying
central diocesan		 charges made to the parishes
for defraying
central diocesan		 charges made to the parishes
for defraying
central diocesan		 charges made to the parishes
for defraying
central diocesan		 charges made to the parishes
for defraying
central diocesan		 costs and supporting
sick and retired dergy. The net loan interest represents interest paid by the Diocese to the parish on deposited
funds.
8. TANGIBLE FIXED ASSETS
Archdiocesan Parish Property
Property And Equipment Total
f f
Cost/valuation
At 1January 2021 14,369,582 41,072,183 55,441,765
Additions 321,468 1,846,001 2,167,469
Disposals (1,391,676) (34,160) (1,425,836)
Transfer to investment property
At 31December 2021 13,299,374 42,884,024 56,183,398
Depreciation
At 1January 2021 3,118,768 13,415,255 16,534,023
Charge in year 249,344 309,919 559,263
Disposals (268,232) (15,710) (283,942)
Transfer to investment property
At 31December 2021 3,099,880 13,709,464 16,809,344
Net Book Value
As at31December
2.021		 f10,199,494 f29,174,560 f39,374,054
Net Book Value
As at31December 2020 f11,250,814 f27,656,928 f38,907,742
The Archdiocese
also owns a number ofproperties,		 which are occupied and run by independent charities
in the form of
Voluntary
Aided Schools. The Trustees consider
—see Accounting
Policy 1.6. The total insurance		 that these properties
have no capital value to the Archdiocesan
Charity
vaiue ofthese schools isf218m. Apart from a small proportion
used for
management
and administration,		 all fixed assets are used in direct furtherance ofthe Charity's objects.

2021
f
Investment
properties
Brought forward 27,400,350 17,995,000
Additions
Transfer from fiixed assets
Dispos als (2,277,350) (635,000)
Revaluation 10,040,350
25,123,000 27,400,350
Quoted investments (see below) 38,860,668 33,139,881
63,983,668 60,540,231
2021
The breakdown ofquoted investments is as follows: f
UK and Overseas equities and fiixed interest stocks 32,515,841 26,505,263
Corporate
and government
bonds		 3,370,221 2,700,450
Commodities 1,092,165 715,020
Other 1,797,149 2,681,072
Portfolio bank accounts 85,292 538,076
38,860,668 33,139,881
2021
Quoted investments at market value: f
Opening
balance		 at 1January 2021 33,139,881 28,972,029
Additions 4,972,506 4,979,314
Disposals (5,398,204) (6,232,221)
Gains/(losses) 6,146,485 5,420,759
Balance at 31December 2021 38,860,668 f33,139,881
Cost ofinvestments at 31December 2021 32,949,391 f28,046,296
Unrealised
gains		 on original cost E5,911,227 E5,083,595

2021 2020
Grants due an schaol projects 1,255,384 1,065,562
Other debtors, prepayments and accrued income 1,458,015 2,399,370
2,713,399 3,464,932

2021 2020
f f
Loans to the Archdiocese and Parishes fram third parties 929,688 297,000
Other creditors 6,451,554 7,218,232
School Building Projects 5,622,355 4,925,339
13,003,597 12,440,571

Transfers
Balance at and Balance at
1January Income Expenditure Investment 31December
2021 Gains/losses 2021
f f f
General 7,633,336 3,709,342 (6,626,220) 4,368,203 9,084,661

Transfers
Balance at and Balance at
1January Income Expenditure Investment 31December
2021 Gains/losses 2021
Building repairs reserve 350,000 350,000
Reserve to support 235,643 235,643
building costs
Cathedral repairs reserve 350,000 350,000
350,000 350,000
RISH FUNDS
Transfers
Balance at and Balance at
1January Income Expenditure Investment 31December
2021 Gains/losses 2021
f f f
Parish Funds 81,739,434 21,897,733 (18,163,939) (544,883) 84,928,345
2020
Parish Funds 69,378,098 21,276,753 (16,469,140) 7,553,723 81,739,434

Transfers
Balance at and Balance at
1January Incoming Resources Investment 31December
2021 Resources Expended Gains/Losses 2021
Priests Training Fund 3,014,806 254,505 (268,279) 467,45S 3,468,487
Clergy Support Fund S08,887 563,252 (1,224,513) 555,246 402,872
Ferrers Funds 777,615 (20,673) 149,270 906,212
Mass Funds 1,936,678 67,270 2,003,948
Parish Church Fund S2,622 52,622
Trust and Other Funds 3,066,385 82,000 3,148,385
Legion ofMary Fund 236,053 236,053
Education
Fund		 1,751,787 1,751,787
11,344,833 817,757 (1,513,465) 1,321,241 11,970,366
Transfers
Balance at and Balance at
1January Incoming Investment 31December
2020 Resources Expended Gains/Losses 2020
f E
Priests Training Fund 2,899,133 61,397 (372,030) 426,306 3,014,806
Clergy Support Fund 1,157,295 332,392 (1,487,168) 506,368 508,887
Ferrers Funds 643,235 18,923 (20,673) 136,130 77'7,615
Mass Funds 1,850,997 1,252 (571) 8S,000 1,936,678
Parish Church Fund 52,622 52,622
Trust and Other Funds 3,067,479 124,558 (7,491) (118,161) 3,066,385
Legion ofMary Fund 236,053 236,053
Education
Fund		 3,943,685 865,000 (3,056,898) 1,751,187
13,850,499 538,522 (2,028,355) 1,035,643 11,344,833

Net Net Parish and Total
Current Restricted
Fund		 asat
Fixed loans tothe 31December
Investments less loans Diocese 2021
Unrestricted Archdiocesan funds 9,993,703 29,637,775 10,209 (30,557,026) 9,084,661
Designated Archdiocesan Funds 935,643 935,643
Restricted Archdiocesan funds 2,05,791 8,737,280 2,012,331 164,964 11,120,366
Parish funds 29,174,560 25,608,613 (246,890) 30,392,062 84,928,345
Total Net Assets f39,374,054 f63,983,668 f2,998,996 f106,356,718
Net Net Parish and Tota I
Current Restricted
Fund		 asat
Assets loans tothe 31December
Investments less loans Diocese
Unrestricted Archdiocesan funds 10,753,474 28,813,962 (3,650,942) (28,229,976) 7,686,518
Restricted Archdiocesan funds 497,195 7,610,855 2,300,079 936,704 11,344,833
Parish funds 27,657,073 24,115,414 2,620,493 27,293,272 81,686,252
Total Net Assets f38,907,742 f60,540,231 f1,269,630 f- f100,717,603

SOUTHWAIIK In remembrance of Canon Richard Hearn, KCHS, VG 1966 - 2021 Vlcar General, Moderator of the Curla and Dean of St Georges Cathedral It is MJ Fat1￿'S witl, says the Lord, that whoever believes inthe Sm shatl hLwe eternal (￿e. and that I slwIl raise im up onthe last day (John &4Q Roman Catholic Archdiocese of Southwark CIO Bowen House, 59. Westm1T￿ter Brldge Ro¥J, LorKh)n, SEI 7JE Website https:Ilrcaos.org.ukl www.facebook.comlArchdSocos•OfSouthwark twltt•r.com/RC Southwark www.insta8ram.comlrcsouthwark