# **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
- A copy of the CIO’s latest Trustees’ Annual report and statement of accounts.
- A copy of the Charity Commission's guidance CC3a - Charity trustee: what's involved.
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:
- 1) accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- 2) the accounts do not accord with those records; or
- 3) the accounts do not comply with the applicable 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.
**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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## **Virtual Cabinet Portal Digital Signatures**
## **Digital Signature Verification**
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## **Signature Dates and Times**
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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.