Charity registration number: 1174261
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Annual Report and Financial Statements
for the Year Ended 31 December 2022
Lambert Chapman LLP Chartered Accountants and Registered Statutory Auditors 3 Warners Mill Silks Way Braintree Essex CM7 3GB
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Statement of Trustees' Responsibilities | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 17 |
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Reference and Administrative Details
Trustees P Robinson B Grenham B T Connolly A M Hannon Charity Registration Number 1174261 Principal Office 4 Stubbs Lane Braintree Essex CM7 3PA Independent Examiner Nicholas Forsyth FCA Lambert Chapman LLP Chartered Accountants and Registered Statutory Auditors 3 Warners Mill Silks Way Braintree Essex CM7 3GB Solicitors Fisher Jones Greenwood 102 High Street Billericay Essex CM12 9BY
Page 1
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2022.
Objectives and activities
Objects and aims
The general objective of the Charity is to support the advancement of the religious and other charitable works being carried out by the Institute.
These works fall into the following principal areas which are now limited to Australia, The United States of America, Canada, England, The Republic of Ireland, Northern Ireland, Papua New Guinea, Peru and Bolivia.
Objectives, strategies and activities
During the year the Charity continued to support the charitable works carried out by the Institute, providing care for the elderly and carrying out a variety of support services.
Fundraising disclosures
The Charity does not undertake any significant amount of fundraising activities.
Public benefit
The Trustees have considered the Commission's guidance on public benefit.
We try to enable men and women to live out the last years of their lives with dignity through the provision of pastoral care for people living in the parish. We support our Sisters financially in the three countries that have young missions by way of donations. We also support our Sisters in Northern Ireland. Sisters that were resident in England have now been relocated to residential homes in Ireland.
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Use of volunteers
The Trustees wish to convey their thanks to the volunteers who have supported the Charity during the period.
Financial review
Policy on reserves
The reserves policies are discussed at the Trustees Meetings with the guidance of the Chairperson of the Institute.
The Charity's available reserves at the Balance Sheet date amount to £7,713,389, the majority of which are held as fixed asset investments, and these reserves will be used to fund the Charity's activities and operations in future periods.
Principal funding sources
The Charity has an investment portfolio of £6,523,344, which is managed by both Mr J.P. Watson of Watson Moore Limited and Barclays Private Investment, and these amounts consist of monies not immediately required. The investment managers operate within specific guidelines which are set out and regularly reviewed by the Trustees. The investment managers' objectives are to maximise returns through a diversified portfolio which provides the income required by the trust.
Page 2
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Trustees' Report (continued)
Going concern
The financial statements have been prepared on a going concern basis.
The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties relating to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
Following the sale of the residential home, the Charity will continue to operate assisting with the payment of care fees for sisters and providing charitable donations.
Structure, governance and management
Nature of governing document
The Charity is a Charitable Incorporated Organisation which is governed by a Foundation Model Constitution. The Charity was registered with the Charity Commission on 15 August 2017 - it previously operated as an unincorporated Charity, registration number 233597.
Recruitment and appointment of trustees
The Charity seeks to recruit and appoint new Trustees as the need arises.
Induction and training of trustees
The General Treasurer of the Institute provides training as well as setting courses for the treasurers in each Province within the Institute dealing with finance and risk management. The training sessions are a means of assistance in financial management for the Sisters of the Institute.
Organisational structure
There are four Trustees, their names are set out on page 1 of these financial statements.
In all of their work the sisters are assisted by lay staff. The Institute is the employer for a number of lay staff in their ministries throughout the World.
The Institute is governed by the General Minister, two Councillors and a Treasurer.
Being a Missionary Institute, we operate in a number of countries, namely Australia, The United States of America, Canada, England, The Republic of Ireland, Northern Ireland, Papua New Guinea, Peru and Bolivia.
In each country, or group of countries, there is an elected Leader who visits the Houses frequently in each of the respective Provinces/regions. These visits are to instruct and give Leadership advice and counselling.
The General Minister and her Council with the Treasurer are responsible for the overall care of the Institute and work with the leaders in each country to develop ministry and for the pastoral care of the Sisters. They visit each Country at least once within their five-year term of office.
The Trustees wish to record their recognition of the professionalism and commitment of all their employees, collaborators and to the members of the Institute. Their dedication is very much appreciated.
Page 3
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Trustees' Report (continued)
Major risks and management of those risks
Risk assessment by the Trustees
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems are in place to mitigate our exposure to major risks.
The main risk relates to the value of the investments held - these are managed by specialist investment managers to mitigate the risk to the Charity's assets as much as possible.
The annual report was approved by the Trustees of the Charity on 27 October 2023 and signed on its behalf by:
......................................... B T Connolly Trustee
Page 4
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Statement of Trustees' Responsibilities
The Trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The Trustees are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on 27 October 2023 and signed on its behalf by:
......................................... B T Connolly Trustee
Page 5
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Independent Examiner's Report to the trustees of The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
I report to the trustees on my examination of the accounts of The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
................................................. Nicholas Forsyth FCA
Lambert Chapman LLP Chartered Accountants and Registered Statutory Auditors The Institute of Chartered Accountants in England and Wales (ICAEW)
3 Warners Mill Silks Way Braintree Essex CM7 3GB
27 October 2023
Page 6
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Statement of Financial Activities for the Year Ended 31 December 2022
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Investment income 4 Other income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Gains/losses on investment assets Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 19 |
Unrestricted £ - 23,739 1,634 - 25,373 (180,439) (180,439) (676,397) (831,463) 8,894,452 8,062,989 |
Total 2022 £ - 23,739 1,634 - 25,373 (180,439) (180,439) (676,397) (831,463) 8,894,452 8,062,989 |
Total 2021 £ 1,959 23,679 77 199,320 |
|---|---|---|---|
| 225,035 | |||
| (779,640) | |||
| (779,640) | |||
| 544,174 | |||
| (10,431) 8,904,883 |
|||
| 8,894,452 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 19.
The notes on pages 9 to 17 form an integral part of these financial statements. Page 7
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
(Registration number: 1174261) Balance Sheet as at 31 December 2022
| Note Fixed assets Tangible assets 14 Investments 15 Current assets Debtors 16 Cash at bank and in hand Creditors: Amounts falling due within one year 17 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 19 |
2022 £ 349,600 6,523,344 6,872,944 456 1,284,006 1,284,462 (94,417) 1,190,045 8,062,989 8,062,989 8,062,989 |
2021 £ 365,848 7,259,741 |
|---|---|---|
| 7,625,589 | ||
| 49,884 1,278,449 |
||
| 1,328,333 (59,470) |
||
| 1,268,863 | ||
| 8,894,452 | ||
| 8,894,452 | ||
| 8,894,452 |
The financial statements on pages 7 to 17 were approved by the trustees, and authorised for issue on
27 October 2023 and signed on their behalf by:
......................................... B T Connolly Trustee
The notes on pages 9 to 17 form an integral part of these financial statements. Page 8
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Notes to the Financial Statements for the Year Ended 31 December 2022
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
Judgements
Apart from those judgements involving estimations, management has not made any judgements in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the accounts.
Key sources of estimation uncertainty
There are no key assumptions concerning the future or other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Investment income
Income from interest and dividends is recognised when its receipt is probable and the amount received can be measured reliably.
Charitable activities
Income is received in respect of Sisters’ pensions and this is recognised when its receipt is probable and the amount received can be measured reliably.
Page 9
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
Other income
Other income represents income that cannot be reported under the other analysis within the SOFA, last year relating to the profit on disposal of tangible fixed assets.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements.
Taxation
The charity is potentially exempt from taxation in respect of income or capital gains received to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Land and buildings 4% straight line basis on buildings Furniture and equipment 20% reducing balance
Impairment of fixed assets
Tangible fixed assets are reviewed for impairment when changes in circumstances or events indicate that the carrying value of the fixed assets may not be recoverable. An impairment loss is recognised where the recoverable amount is less than the carrying value.
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Page 10
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
Trade creditors
These are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
2 Income from donations and legacies
| Donations and legacies; Donations from individuals 3 Income from charitable activities Sisters pensions 4 Investment income Interest receivable and similar income; Interest receivable on bank deposits |
Unrestricted funds General £ - - Unrestricted General £ 23,739 Unrestricted funds General £ 1,634 |
Total Total 2022 £ - - Total 2022 £ 23,739 Total Total 2022 £ 1,634 |
Total Total 2021 £ 1,959 |
|---|---|---|---|
| 1,959 | |||
| Total 2021 £ 23,679 |
|||
| Total Total 2021 £ 77 |
Page 11
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
5 Other income
| Gains on sale of tangible fixed assets for charity's own use 6 Expenditure on charitable activities Note Rates Sisters' residential costs Home overheads Sundry expenses Motor expenses Staff entertaining Bank charges Depreciation of freehold property Depreciation of fittings and equipment Depreciation of motor vehicles (Profit)/loss on sale of tangible fixed assets held for charity's own use Water rates Light, heat and power Insurance Repairs and maintenance Telephone Printing, postage and stationery Charitable donations Wages and salaries 10 Governance costs 7 |
Unrestricted funds General £ - Unrestricted General £ 1,615 102,169 - 36 91 - 1,248 15,200 210 - 838 126 1,513 2,214 245 500 1,966 30,114 14,923 7,431 180,439 |
Total Total 2022 £ - Total 2022 £ 1,615 102,169 - 36 91 - 1,248 15,200 210 - 838 126 1,513 2,214 245 500 1,966 30,114 14,923 7,431 180,439 |
Total Total 2021 £ 199,320 |
|---|---|---|---|
| Total 2021 £ 1,375 109,326 4,704 - 331 7 1,278 27,269 263 112 - 288 2,796 483 1,993 656 2,022 600,224 14,924 11,589 |
|||
| 779,640 |
Page 12
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
7 Analysis of governance and support costs
Governance costs
| Audit fees Audit of the financial statements Independent examiner fees Examination of the financial statements Legal fees Accountancy fees 8 Net incoming/outgoing resources Net outgoing resources for the year include: Audit fees Depreciation of fixed assets (Profit)/loss on sale of tangible fixed assets held for charity's |
Unrestricted funds General £ 3,858 3,090 95 388 7,431 own use |
Total Total 2022 £ 3,858 3,090 95 388 7,431 2022 £ 3,858 15,410 838 |
Total Total 2021 £ 7,800 - 2,615 1,174 |
|---|---|---|---|
| 11,589 | |||
| 2021 £ 7,800 27,645 (199,320) |
9 Trustees remuneration and expenses
During the year, residential fees were paid on behalf the following Trustees:
B Grenham £11,840 (2021: £28,778); A Hannon £62,477 (2021: £31,672); B Connolly £12,188 (2021: £28,184).
The Trustees are not remunerated for carrying out their role as a Trustee.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Page 13
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
10 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries |
2022 £ 14,923 |
2021 £ 14,924 |
|---|---|---|
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| Average head count No employee received emoluments of more than £60,000 during the year. 11 Independent examiner's remuneration Examination of the financial statements 12 Auditors' remuneration Audit of the financial statements |
2022 No 1 2022 £ 3,090 2022 £ 3,858 |
2021 No 1 |
|---|---|---|
| 2021 £ - |
||
| 2021 £ 7,800 |
13 Taxation
The charity is a registered charity and is therefore potentially exempt from taxation.
Page 14
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
14 Tangible fixed assets
| Cost At 1 January 2022 Disposals At 31 December 2022 Depreciation At 1 January 2022 Charge for the year Eliminated on disposals At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 15 Fixed asset investments Investments Investments Cost or Valuation At 1 January 2022 Revaluation Amount withdrawn At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 |
Land and buildings £ 380,000 - |
Furniture and equipment £ 3,476 (3,476) - 2,428 210 (2,638) - - 1,048 2022 £ 6,523,344 Investments £ 7,259,741 (676,397) (60,000) 6,523,344 6,523,344 7,259,741 |
Total £ 383,476 (3,476) 380,000 17,628 15,410 (2,638) 30,400 349,600 365,848 2021 £ 7,259,741 |
|
|---|---|---|---|---|
| 380,000 | ||||
| 15,200 15,200 - |
||||
| 30,400 | ||||
| 349,600 | ||||
| 364,800 | ||||
| Total £ 7,259,741 (676,397) (60,000) 6,523,344 6,523,344 7,259,741 |
Page 15
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
The investments at the Balance Sheet date consist of:
| Personal Portfolio Multi-Asset Class and Other Investments Wrap Cash Cash and Short-Term Maturity Bonds |
2022 £ 3,787,060 2,701,109 29,002 6,173 6,523,344 |
2021 £ 4,288,473 2,938,344 25,496 7,428 |
|---|---|---|
| 7,259,741 |
Other than those investments that are recognised within the financial statements, further investments are held in the name of the Charity as custodian for the religious order, the Missionary Franciscan Sisters of the Immaculate Conception. These investments are not recognised on the Charity's Balance Sheet. At the Balance Sheet date, the value of these investments amounted to £7,908,122 (2021: 8,584,233).
Where funds have been paid to or received on behalf of the religious order, these are reported on the Balance Sheet within Other Creditors. At the Balance Sheet date, the amount due to Missionary Franciscan Sisters of the Immaculate Conception was £78,076 (2021: £346).
16 Debtors
| Prepayments Other debtors |
2022 £ 396 60 456 |
2021 £ 1,027 48,857 |
|---|---|---|
| 49,884 |
17 Creditors: amounts falling due within one year
| 17 Creditors: amounts falling due within one year | ||
|---|---|---|
| Trade creditors Other creditors Accruals |
2022 £ 32 78,325 16,060 94,417 |
2021 £ 30 50,400 9,040 |
| 59,470 |
18 Related party transactions
During the year the charity made the following related party transactions:
Missionary Franciscan Sisters of the Immaculate Conception
The Charity acts as a custodian holding investments belonging to the religious order, the Missionary Franciscan Sisters of the Immaculate Conception, which has the same charitable objects. These investments are held separately from those belonging to the Charity.
The investments held as custodian do not belong to the Charity and are therefore are not recognised on the Charity's Balance Sheet.
Further information relating to the investments has been included in note 15.
Page 16
The Roman Catholic Congregation of the Missionary Franciscan Sisters (of the Immaculate Conception) (Braintree) Charitable Trust
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
19 Funds
| 19 Funds | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at | |||||||||
| Balance at 1 | Other | 31 | |||||||
| January | Incoming | Resources | recognised | December | |||||
| 2022 | resources | expended | gains/(losses) | 2022 | |||||
| £ | £ | £ | £ | £ | |||||
| Unrestricted funds | |||||||||
| General | 8,894,452 | 25,373 | (180,439) | (676,397) | 8,062,989 | ||||
| Balance at | |||||||||
| Balance at 1 | Other | 31 | |||||||
| January | Incoming | Resources | recognised | December | |||||
| 2021 | resources | expended | gains/(losses) | 2021 | |||||
| £ | £ | £ | £ | £ | |||||
| Unrestricted funds | |||||||||
| General | |||||||||
| Unrestricted Funds | 8,904,883 | 225,035 | (779,640) | 544,174 | 8,894,452 | ||||
| The specific purposes for which the funds are to be | applied are as follows: | ||||||||
| The unrestricted fund relates | to funds that are available for use at the Trustees' | discretion in furtherance of the | |||||||
| objectives of the Charity. | |||||||||
| 20 Analysis of net assets between funds | |||||||||
| Unrestricted | Total funds at | ||||||||
| funds | 31 December | ||||||||
| General | 2022 | ||||||||
| £ | £ | ||||||||
| Tangible fixed assets | 349,600 | 349,600 | |||||||
| Fixed asset investments | 6,523,344 | 6,523,344 | |||||||
| Current assets | 1,284,462 | 1,284,462 | |||||||
| Current liabilities | (94,417) | (94,417) | |||||||
| Total net assets | 8,062,989 | 8,062,989 | |||||||
| Unrestricted | Total funds at | ||||||||
| funds | 31 December | ||||||||
| General | 2021 | ||||||||
| £ | £ | ||||||||
| Tangible fixed assets | 365,848 | 365,848 | |||||||
| Fixed asset investments | 7,259,741 | 7,259,741 | |||||||
| Current assets | 1,328,333 | 1,328,333 | |||||||
| Current liabilities | (59,470) | (59,470) | |||||||
| Total net assets | 8,894,452 | 8,894,452 |
Page 17