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||||Page|
|---|---|---|---|
|Legal and administrative||information||
|Trustees' report||||
|Independent
auditors|report||15|
|Statement offinancial|activities||17|
|Balance sheet|||18|
|Statement ofcash flows|||19|
|Notes to the accounts|||20|
##
|INSTITUTE LEADER|INSTITUTE LEADER|Sister Patricia Ojo|
|---|---|---|
|MISSION LEADER||Sister Blanaid McCauley|
|TRUSTEES||Sister Mary Moran|
|||Sister Philomena
Morris|
|||Sister Margaret
Healy|
|||Sister Augustina
Agyirey-Kwakye|
|MISSION TREASURER||Sister Mary Moran|
|MISSION ADDRESS||16Chaucer Close|
|||New Southgate|
|||London|
|||NW11 1AU|
|CIO NUMBER||1173507|
|AUDITORS||Borucki 8 Co.|
|||42 Radnor Road|
|||Harrow
HA1 1RZ|
|INVESTMENT|MANAG ERS|Charles Stanley S.Co. Ltd.|
|||25 Luke Street|
|||London
EC4A 4AR|
|||Brewin Dolphin
Ltd.|
|||12Smithfield
Street|
|||London
EC1A9BD|
|BANKERS||Barclay's Bank|
|||63/67 Terminus
Road|
|||Eastbourne
BN21 3NE|
|SOLICITORS||Stone King|
|||Boundary
House|
|||91Charter
House Street|
|||London EC1M 6HR|
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||||General|Designated|Designated|||General|Designated|
|---|---|---|---|---|---|---|---|---|---|
|||Notes|fund|fund||2023|2022|fund|fund|
|Incoming resources||||||||||
|Voluntary
income:||||||||||
|Donations
and legacies|||4,686|||4,686|2,431|2,431||
|Salaries stipends
and pensions||2|136,439|||136,439|197,553|197,553||
|Guests|||||||(100)|(100)||
|Activities for generating|funds:|||||||||
|Investment
income|||57,917|53,660||111,577|120,977|73,954|47,023|
|Miscellaneous
income||||||||||
|Miscellaneous|||3,606|||3,606||||
|Surplus on sale ofassets|||68,079|||68,079|818,327|818,327||
||||270,727|53,660||324,387|1,139,188|1,092,165|47,023|
|Expenditure||||||||||
|Raising funds||||||||||
|Investment
managers|fees||7,408|10,024||17,432|24,723|7,995|16,728|
|Property managers
fees||||||||||
|Charitable
activities:||||||||||
|Charitable
activities||||||||||
|Upkeep ofcommunities|||203,059|||203,059|294,705|294,705||
|Care ofaged members|||||250|250|20,713||20,713|
|Donations
and missions|||244,193|||244,193|356,966|356,966||
|Governance
costs|||13,653|||13,653|16,783|16,783||
|Defecit on sale ofassets||||||||||
||||460,905||250|461,155|689,167|668,454|20,713|
|Total expenditure|||468,313|10,274||478,587|713,890|676,449|37,441|
|Incoming resources less|expenditure||(197,586)|43,386||(154,200)|425,298|415,716|9,582|
|Net gains (losses) on investments|||(118,046)|(151,102)||(269,148)|131,226|26,466|104,760|
|Net income (expenditure)|||(315,632)|(107,716)||(423,348)|556,524|442,182|114,342|
|Transfers between funds|||171663|(171|663)|||1,452,386|(1,452,386)|
|Net movement
in funds|||(143,969)|(279,379)||(423,348)|556,524|1,894,568|(1,338,044)|
|Reconciliation offunds||||||||||
|Total funds brought forward||||||||||
|Transferred
from The Institute ofThe Sisters of||||||||||
|StLouis Juilly-Monaghan|||5,630,040|2,611,683||8,241,723|7,685,199|3,735,472|3,949,727|
|Total funds carried forward|||5,486,071|2,332,304||7,818,375|8,241,723|5,630,040|2,611,683|
##
||||Notes||2023||2022|
|---|---|---|---|---|---|---|---|
|Fixed assets||||||||
|Tangible assets|||9||863,662||1,038,121|
|Investments|at market|value|10||2,950,566||3,238,662|
||||||3,814,228||4,276,783|
|Current assets||||||||
|Debtors||||19,889||24,017||
|Cash at bank|and in hand|||4,008,921||4,092,316||
|||||4,028,810||4,116,333||
|Creditors: amounts||falling due||||||
|within one year|||12|(24,663)||(151,393)||
|Net current|assets||||4,004,147||3,964,940|
||||||7,818,375||8,241,723|
|Capital and|reserves|||||||
|Unrestricted|funds:|||||||
|General funds|||||5,486,071||5,630,040|
|Designated|funds||13||2,332,304||2,611,683|
||||||7,818,375||8,241,723|
##
||||||Note|2023|2022|
|---|---|---|---|---|---|---|---|
|Cash generated
in operating|activities|||||(454,069)|(500,940)|
|Cash flows from investing
acivities||||||||
|Investment
income||||||111,577|120,977|
|Proceeds ofinvestment
sales||||||739,996|405,917|
|Purchases ofinvestments||||||(675,922)|(377,308)|
|Ner proceeds on sale ofassets||||||240,150|2,270,713|
|Cash provided
(used) in investing||activities||||415,801|2,420,299|
|Increase in cash and cash equivalents|||in year|||(38,268)|1,919,359|
|Movement
in year||||||||
|(Decrease) increase in cash at|bank and in hand|||||(83,395)|1,911,769|
|(Decrease) increase in cash held||by investment||managers|for re-investment|45,126|7,590|
|||||||(38,269)|1,919,359|
|Reconciliation ofnet movement||in|funds to net cash||flow from operating|||
|||||||2023|2022|
|Net income (expenditure)||||||(423,348)|556,524|
|Deduct investment
income||||||(111,577)|(120,977)|
|Add depreciation||||||2,389|3,321|
|(Profit) loss on sale ofassets||||||(68,079)|(818,327)|
|Add/(deduct)
net movement
on investments.||||||269,148|(131,226)|
|Increase (decrease) in creditors||||||(126,730)|(1,117)|
|(Increase) decrease in debtors||||||4,128|10,862|
|||||||(454,069)|(500,940)|
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|Salaries|and|pensions|ofmembers|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||General|Designated|||General|Designated|
|||||fund|fund|2023|2022|fund|fund|
|Salaries||||4,165||4,165|6,909|6,909||
|Pensions||||132,274||132,274|190,644|190,644||
|||||136,439||136,439|197,553|197,553||
##
|||General|Designated|||General|Designated|
|---|---|---|---|---|---|---|---|
|||fund|fund|2023|2022|fund|fund|
|Dividends|and interest from investments|43,636|53,660|97,296|82,473|35,450|47,023|
|Bank and|other interest|14,281||14,281|267|||
|Rents|||||38,237|38,237||
|||57,917|53,660|111,577|120,977|73,687|47,023|
|4|Activities in|furtherance|ofthe charity's|ofthe charity's|objectives||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||General|Designated|||General|Designated|
||||||fund|fund|2023|2022|fund|fund|
||Upkeep ofcommunities||||||||||
||Staff costs||||3,175||3,175|14,985|14,985||
||Premises||||69,046||69,046|125,628|125,628||
||Community
and personal||||115,678||115,678|127,132|127,132||
||Administration||||15,160||15,160|26,960|26,960||
||||||203,059||203,059|294,705|294,705||
||Care ofaged|Sisters|||||||||
||Care home fees and personal|||expenses||250|250|41,426|20,713|20,713|
|||||||250|250|41,426|20,713|20,713|
|5|Governance|costs|||||||||
||||||General|Designated|||General|Designated|
||||||fund|fund|2023|2022|fund|fund|
||Audit fees||||5,850||5,850|5,600|5,600||
||Accountancy|fees|||4,150||4,150|3,400|3,400||
||Solicitors fees||||3,653||3,653|7,783|7,783||
||||||13,653||13,653|16,783|16,783||
|6|Net incoming|(outgoing)|resources before transfers||||||||
||This is stated|after charging||(crediting)|||||||
||||||General|Designated|||General|Designated|
||||||fund|fund|2023|2022|fund|fund|
||Staff costs||||3,175||3,175|14,985|14,985||
||Auditors
remuneration||||5,850||5,850|5,600|5,600||
||Accounting
and other||||4,150||4,150|3,400|3,400||
||Depreciation||||2,389||2,389|3,321|3,321||
|7|Staff costs and trustees'||remuneration||||2023|2022|||
||Staff costs during
the year||were as follows:||||||||
||Wages and salaries||||||3,175|14,972|||
||Social security costs|||||||13|||
||Pension contributions||||||||||
||||||||3,175|14,985|||
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|9|Tangible fix|ed assets|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Furniture||
||||||||Freehold land|Motor|and||
||||||||and buildings|vehicles|equipment|Total|
||Cost||||||||||
||At 1 ApA'1 2021||||||1,028,158|83,027||1,111,185|
||Additions||||||||||
||Disposals||||||(171,663)|(19,140)||(190,803)|
||At 31March|2023|||||856,495|63,887||920,382|
||||||||||Furniture||
||||||||Freehold land|Motor|and||
||||||||and buildings|vehicles|equipment|Total|
||Depreciation||||||||||
||At 1 ApA'1 2021|||||||73,064||73,064|
||Charge for the year|||||||2,389||2,389|
||On disposals|||||||(18,733)||(18,733)|
||At 31March|2023||||||56,720||56,720|
||Net book value||||||||||
||At 31March|2023|||||856,495|7,167||863,662|
||At 31March|2022|||||1,028,158|9,963||1,038,121|
|10|Investments|||||||2023|2022||
||Listed Investments||||||||||
||Market value|1 April||||||3,073,321|2,970,704||
||Additions
at cost|||||||675,371|377,308||
||Sale proceeds|from disposals|||and|transfers||(739,996)|(405,917)||
||Gain (loss) in year|||||||(269,148)|131,226||
||Market value|at 31March 2023||||||2,739,548|3,073,321||
||Cash held by|investment||managers||for re-investment||100,127|55,001||
||Deposit in Oikocredit Capital Account|||||||110,891|110,340||
|||||||||2,950,566|3,238,662||
||Cost oflisted|investments||at|31March 2023|||2,759,943|2,759,943||
|11|Debtors|||||||2023|2022||
||Sundry debtors|||||||18,889|20,916||
||Other debtors|||||||1,000|3,101||
||Prepayments|and accrued||income|||||||
|||||||||19,889|24,017||
|12|Creditors: amounts||falling||due|within one year||2023|2022||
||Patrimony
and dowry|||||||10,996|134,676||
||Sundry creditors|||||||1,667|7,117||
||Accruals|||||||12,000|9,600||
|||||||||24,663|151,393||
##
|Designated
funds||||||
|---|---|---|---|---|---|
||At 1 April||Incoming|Utilised/|At 31March|
||2022|Transfers|resources|realised|2023|
|Care Fund|1,583,525||53,660|(161,376)|1,475,809|
|Capital fund|1,028,158|(171,663)|||856,495|
||2,611,683|(171,663)|53,660|(161,376)|2,332,304|
|Analysis ofnet as|sets between funds||||
|---|---|---|---|---|
|||General|Designated||
|||fund|funds|2023|
|Tangible fixed assets||1,557,350|2,256,878|3,814,228|
|Current assets||3,953,384|75,426|4,028,810|
|Creditors: amounts|falling due||||
|within one year||(24,663)||(24,663)|
|||5,486,071|2,332,304|7,818,375|