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2021-03-31-accounts

APOSTOLIC PREFECTURE OF THE FALKLANDS AND MISSION TO ST HELENA, TRISTAN DA CUNHA AND ASCENSION ISLAND CIO

FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

Charity Number : 1174770

Edmund Carr LLP Chartered Accountants 146 New London Road Chelmsford Essex CM2 OAW

APOSTOLIC PREFECTURE OF THE FALKLANDS AND MISSION TO ST HELENA, TRISTAN DA CUNHA AND ASCENSION ISLAND CIO

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

CONTENTS PAGE
Charity information 1
Trustees' annual report 2
Independent Examiner's report to the Trustees 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8

APOSTOLIC PREFECTURE OF THE FALKLANDS AND MISSION TO ST HELENA, TRISTAN DA CUNHA AND ASCENSION ISLAND CIO

CHARITY INFORMATION

YEAR ENDED 31 MARCH 2021

Date of registration 21 September 2017 Registered charity Number 1174770 Registered charity name Apostolic Prefecture of The Falklands and Mission to St Helena, Tristan da Cunha and Ascension Island CIO Working name Prefecture of The Falklands Address St Philips Priory 178 New London Road Chelmsford CM2 0AR Trustees Rt Rev Hugh Allan Mr Benjamin Fleetwood-Smyth Mr Eugene Ahern Mrs Linda Ransom Independent Examiner Colin A Barker FCA Edmund Carr LLP 146 New London Road Chelmsford Essex CM2 0AW

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APOSTOLIC PREFECTURE OF THE FALKLANDS AND MISSION TO ST HELENA, TRISTAN DA CUNHA AND ASCENSION ISLAND CIO

TRUSTEES' ANNUAL REPORT YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES

The object of the CIO is the advancement of the Roman Catholic religion through the religious and other charitable work of the Apostolic Prefecture of the Falkland Islands and the Mission sui juris of St Helena, Ascension Island and Tristan da Cunha as the Trustees with the approval of the Ordinary shall from time to time think fit.

The charity was registered on 21 September 2017 to administer funds held in trust for the charitable purposes described above. These funds were originally set aside by Monsignor Anton Agreiter (Apostolic Prefect 1986-2002) to help benefit the work of the Roman Catholic Church in the British Overseas Territories of the South Atlantic.

The Trustees confirm that the activities of the charity are undertaken to achieve the charity’s aims with regard to the public benefit guidance issued by The Charity Commission.

Protection of Children and Vulnerable Adults

Along with all other organisations that serve in the community, the trustees recognise the absolute necessity of ensuring the protection and safety of all those the charity serves. The trustees are committed to implementing all the policies and procedures of the Catholic Safeguarding Advisory Service (CSAS).

ACHIEVEMENTS AND PERFORMANCE

During this year, funds from the charity were used to enable Abbot Hugh Allan to make pastoral visits to the Falkland Islands (in November). Due to the pandemic, he was unable to make any other visits.

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APOSTOLIC PREFECTURE OF THE FALKLANDS AND MISSION TO ST HELENA, TRISTAN DA CUNHA AND ASCENSION ISLAND CIO

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2021

FINANCIAL REVIEW

There was no income during the period. Expenditure for the period totalled £28,006. The Trustees decided that an annual stipend of £5,000 should be paid to the Order of Canons Regular of Premontre, Chelmsford, of which Rt Rev Hugh Allan is Abbot, in respect of his services as Apostolic Administrator of the charity. The award was backdated to cover the 5 years to 31 March 2021, resulting in a total payment of £25,000.

Reserves Policy

The charity has no staff or overheads and will be distributing funds from invested deposits. The trustees consider that there is therefore currently no need to set a minimum level of reserves. This policy will be reviewed on an annual basis.

FUTURE PLANS

The trustees intend to look at investing the bulk of the money in the trust to ensure future funds for the work of the Church on the Islands. This has been on-hold but will hopefully move forward in the coming year.

The funds will continue to be used to enable Abbot Hugh Allan to resume his pastoral visits to the Islands in the South Atlantic.

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APOSTOLIC PREFECTURE OF THE FALKLANDS AND MISSION TO ST HELENA, TRISTAN DA CUNHA AND ASCENSION ISLAND CIO

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is constituted under the model constitution for Charitable Incorporated Organisations.

New trustees are appointed by a resolution passed at a properly convened meeting of the existing trustees. In selecting individuals for appointment, the trustees have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

The trustees make available to each new trustee, on or before his or her first appointment: - A copy of the current version of the constitution

Approved by the Trustees on ................................. and signed on their behalf by:

Rt Rev Hugh David Allan

Trustee

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APOSTOLIC PREFECTURE OF THE FALKLANDS AND MISSION TO ST HELENA, TRISTAN DA CUNHA AND ASCENSION ISLAND CIO

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES YEAR ENDED 31 MARCH 2021

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2021 which are set out on pages 6 to 10.

Responsibilities and basis of report

As the charity’s trustees 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 charity’s accounts carried out under section 145 of the 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:

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.

C A Barker FCA 146 New London Road Chelmsford CM2 0AW

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APOSTOLIC PREFECTURE OF THE FALKLANDS AND MISSION TO ST HELENA, TRISTAN DA CUNHA AND ASCENSION ISLAND CIO

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 MARCH 2021

Note
£
£
INCOME from:
Donations and legacies:
Transfer from Trust
2
-
-
TOTAL INCOME
-
-
EXPENDITURE on:
Charitable activities
3
28,006
-
TOTAL EXPENDITURE
28,006
-
NET INCOME/(EXPENDITURE)/
(28,006)
-
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
749,628
-
Total funds carried forward
721,622
-
Unrestricted
Funds
Funds
Restricted		 Note
£
£
INCOME from:
Donations and legacies:
Transfer from Trust
2
-
-
TOTAL INCOME
-
-
EXPENDITURE on:
Charitable activities
3
28,006
-
TOTAL EXPENDITURE
28,006
-
NET INCOME/(EXPENDITURE)/
(28,006)
-
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
749,628
-
Total funds carried forward
721,622
-
Unrestricted
Funds
Funds
Restricted		 Total Funds
£
-
2021		 Total Funds
2020
£
-
- - -
- 28,006 15,426
- 28,006 15,426
-
-		 (28,006)
749,628		 (15,426)
765,054
- 721,622 749,628

The notes on pages 8 to 10 form part of these financial statements.

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APOSTOLIC PREFECTURE OF THE FALKLANDS AND MISSION TO ST HELENA, TRISTAN DA CUNHA AND ASCENSION ISLAND CIO

BALANCE SHEET

AS AT 31 MARCH 2021

Note
CURRENT ASSETS
Cash at bank
CREDITORS: Amounts falling due
within one year
7
NET CURRENT ASSETS
NET ASSETS
FUNDS OF THE CHARITY
Unrestricted
TOTAL CHARITY FUNDS		 £
£
722,442
722,442
820
721,622
721,622
721,622
721,622
2021		 £
£
750,408
750,408
780
749,628
749,628
749,628
749,628
2020		 £
£
750,408
750,408
780
749,628
749,628
749,628
749,628
2020
749,628
749,628
749,628

These financial statements were approved by the Trustees on …..............................2021 and signed on their behalf by:

Rt Rev Hugh David Allan

Trustee

The notes on pages 8 to 10 form part of these financial statements.

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APOSTOLIC PREFECTURE OF THE FALKLANDS AND MISSION TO ST HELENA, TRISTAN DA CUNHA AND ASCENSION ISLAND CIO

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

Basis of accounting

The accounts (financial statements) have been prepared in accordance with the statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The accounts (financial statements) have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Apostolic Prefecture of the Falklands is an unincorporated registered charity and meets the definition of a public benefit entity under FRS 102.

Going concern

The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.

Incoming Resources

Donations are recognised when receivable.

Resources Expended

All expenditure is accounted for on an accruals basis and includes VAT as the charity is not VAT registered. The majority of costs are attributable to specific charitable activities. Governance costs are associated with the governance arrangements of the charity.

Debtors and creditors

Trade and other debtors are recognised at the settlement amount due. Creditors are recognised at their settlement amount.

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APOSTOLIC PREFECTURE OF THE FALKLANDS AND MISSION TO ST HELENA, TRISTAN DA CUNHA AND ASCENSION ISLAND CIO

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

1 ACCOUNTING POLICIES (continued)

Fund accounting

Funds held by the charity are either:

Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Designated funds – these are funds set aside by the trustees out of unrestricted funds for specific future purposes or projects.

Restricted funds – these are funds that can only be used for particular restricted purposes within the objects of the charity.

Taxation

As the Society is a charity, it is exempt from taxation - other than VAT, which is included in the relevant costs in the Statement of Financial Activities - to the extent that any income and gains are applied to its charitable objectives.

2. DONATIONS RECEIVABLE

Transfer from Trust
3.
CHARITABLE EXPENDITURE
Church repairs and maintenance
Mission costs
Support and administration costs:
Bank charges
Governance costs (note 6)		 Unrestricted
Funds
£
-
-
Unrestricted
Funds
£
-
27,116
27,116
70
820
28,006		 Restricted
Funds
£
-
-
Restricted
Funds
£
-
-
-
-
-
-		 Total Funds
2021
£
-
-
Total Funds
2021
£
-
27,116
27,116
70
820
28,006		 Total Funds
2020
£
-
-
Total Funds
2020
£
3,000
11,586
14,586
60
780
15,426

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APOSTOLIC PREFECTURE OF THE FALKLANDS AND MISSION TO ST HELENA, TRISTAN DA CUNHA AND ASCENSION ISLAND CIO

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

4. STAFF COSTS

The charity had no employees during the current or prior period.

5. TRUSTEES' REMUNERATION

During the year expenses totalling £2,116 relating to travel, accommodation and subsistence were paid by the charity in respect of Rt Rev Hugh Allan who is a trustee of the charity (2020 - £7,306).

The Trustees decided that an annual stipend of £5,000 should be paid to the Order of Canons Regular of Premontre, Chelmsford, of which Rt Rev Hugh Allan is Abbot, in respect of his services as Apostolic Administrator of the charity. The award was backdated to cover the 5 years to 31 March 2021, resulting in a total payment of £25,000.

6. GOVERNANCE COSTS
GOVERNANCE COSTS
Fees payable to independent examiner
Legal and professional fees		 Total Funds
2021
£
820
-
820		 Total Funds
2020
£
780
-
780

7. CREDITORS: Amounts falling due within one year

CREDITORS: Amounts falling due within one year
Accruals 2021
£
820
820		 2020
£
780
780

8. FUNDS

All funds held by the charity during the period were unrestricted general funds.

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APOSTOLIC PREFECTURE OF THE FALKLANDS AND MISSION TO ST HELENA, TRISTAN DA CUNHA AND ASCENSION ISLAND CIO

MANAGEMENT INFORMATION

YEAR ENDED 31 MARCH 2021

This information does not form part of the statutory accounts

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APOSTOLIC PREFECTURE OF THE FALKLANDS AND MISSION TO ST HELENA, TRISTAN DA CUNHA AND ASCENSION ISLAND CIO

INCOME AND EXPENDITURE YEAR ENDED 31 MARCH 2021

Income
Transfer from Trust
Total Income
Expenditure
Charitable activities
Church repairs and maintenance
Travel and subsistence
Stipend
Other mission costs
Administration and Governance costs
Bank charges
Accountancy and examination fees
Legal and professional fees
Total expenditure
Net income/(expenditure)
Balance brought forward
Balance carried forward		 £
£
-
-
-
2,116
25,000
-
27,116
70
820
-
890
28,006
(28,006)
749,628
721,622
2021		 £
£
-
-
3,000
9,807
-
1,779
14,586
60
780
-
840
15,426
(15,426)
765,054
749,628
2020		 £
£
-
-
3,000
9,807
-
1,779
14,586
60
780
-
840
15,426
(15,426)
765,054
749,628
2020
-
14,586
840
70
820
-		 60
780
-
15,426
(15,426)
765,054
749,628

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Signature 1

Signed by Hugh Allan using authentication code c216Lz5Tbj5QVUgw at IP address 77.102.24.188, on 2021/12/23 12:25:36 Z.

Hugh Allan's e-mail address is: frhugh@hotmail.com.