SCHOOL SISTERS OF NOTRE DAME CIO TRUSTEES REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED JO JUNE 2022 {Registered Cltarity No 1179634)
scHL SISTERS OF NOTRE DAME CIO REFERENCE AND ADMINISTRATIVE DETAIiS Registered Charity No. 1179634 TRUSTEES Sisier Eileen Donohoe Sister Ann¢ Brudcr Sisier Arlene Tomlinson Sister Margarei McPhee CONTAcf ADDRESS clo Haysmacintyre LLP 10 Queen Street Place London EC4R IAG SOLICITORS Pothecary Witham Weld 70 St G¢orge5 Square London SWIV 3RD INDEPENDENT EXAMINER Jane Askew ACA Haysmacinryre LLP l O Queen Street Place ndon EC4R IAG BANKERS Lloyds Bank PLC Blackheath London Branch PO Box 1000 London BXI ILT INVESTMENT MANAGERS Barclays Wealth Manag¢ment I Churchill Place )ndon E145HP GOVERNING INSTRUMENT Chariiable Incorporated Organisation (CIO) registed 22 ALEgust 2018 REGISTRATION NUMBER 1179634 OBJECT The objert of the CIO is such chariiable purposes as shall advdnce the religious and other charitable work of th¢ So¢iety as the TN5tees with ihe approval of the Provincial Superior shall from time to lime think fit. INVESTMENT POWERS: Tn1 moneys nuy be invested in any investments authori5ed by law for the investment of trust funds (and donations in any investh*nt auihorised by th¢ donor).
REPORT OF THE TRUSTEES OF THE SCHOOL SISTERS OF NOTRE DAME CIO TO ACCOMPANY THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2022 STRUCTURL GOVERNANCE AND MANAGEMENT The society known as The School Sisiers of Notre Dame is an international Roman call]1¢ religious congregation of women with some members living and working in the British Isles. Within the governance Structure of the School Sisters of Notre Darn¢, the 5iSteTS in the British Isle5 are part of ihe Atlantit-Midwe5t Province with headquaneTS at 6401 North Charles Street. Baliimore. Maryland, U.S.A. The Provincial Leader of the Atlantic Midwest Province is the Sole Member of the CIO. FOT ihe rime being she has declined to aci as a Trustee. The irusiees receive ongoing advice and updating about their role and responsibilitie5 from Iheir audirots, their 501iciiors and from the Asso¢iaiion of Provincial Bursars. The CIO supports the life and minLStry of the Sisters in the British 1$1¢5. The use of fijnds from the CIO by the Sisters resident in England and Wales is based on budgets submitted to and approved by the Provincial Council. Incoming funds are cenrralised in the main CIO bank account. Every six months the sisters who are resident in England and Wales send an account of their exp¢Dditures io Ihe Pmvincittl Council. Annually 811 in¢ome and expenditure infomiation is collated by the bursar for England who submits all peninent information to our accountants. OBJECTS AND AcfiviTJES: The obje¢t of ihe CIO is such charitable PUr5¢S as shall advance the religiou5 and other chariiable work of the Society as the TeeS with the approval of the Provirtcial Superior shall from time to time think fit. In engaging in such work, we follow our iniernational congregatton'5 consiiiuiiort. You Are Sent (YAS) which is further nuanced by prioritie5 ser at Genernl Chapter5 held every five years. Regarding religiou$ activitie5, You Are Sent would say. "We are called and seni to deepen communion with God grtd among people wherever we a ... A5 the desire of Jesus that all be one becomes more fully our own. our 5rriving for unity, embra¢¢s all humanity and the whole of rr¢alion." (YAS 9) Regarding educaiional activities. 'For us. education means enablin persons to reach the fullness of their potential as individuals created in God'5 image and assisiing them to dirffi their gifts toward building the earth. Like Blessed Theresa (our foundress) we educate with the conviction thai the world can be changed through th¢ transforniation of persons. (YAS 22). Responding io varying needs, we engage in a diversity of rninistries. specific servi¢es ihrough which we work for the enablemeni of person5. (Y AS 23) We exclude no one from our concem. bui are especially sensitive to youth and women and are impelled io prefer the poor." (YAS 24) The General Chapter of our intern70#[ ¢ongregaiion. which was held in the autumn of 2017. provid¢d theological underpinning to our striving for unity. li called th¢ School Sislers of Noire Dame 'to develop skills for iniercultural living in community and society" In calling the members'yo dis¢ern which urgeni and Criiital global ¢oncerns we are called to address.. the Chapter encouraged 'collaborarion wilh oihets for the dignity of life and the care of Creatton" as well as creatlvity in our educational efforts "in a rapidly changing world impacted by globali5ati(Trn and technology-. The Sisters in England try to resTK)rtd io the% prioritie5 in the way they live and serve. This Trustees Report describes how those activities undertaken by the charity rther its charithble Purposes for the pllbli¢ benefit. The Tru5tee5 confirni thai they cornply with the duty in seciion 17 of the Charities Act 2011 to have due regard to the public bEnefit guidance issued by Ihe Chariry Commission. IN particular. rhey have considered its suppl¢m¢nlary public guidance on the advancement of religion for ihe public benefit. ACHIEVEMENTS AND PERFORMANCE It is diffi¢uli to quantify the results of our various ministries and activilies. Suffice it io say. we notir¢ and rejoice in signs of gr0h and attitudinal change in the various people with whotn we work. A5 a consequence. they are more willing and able to take on responsibility in their respe¢live cornmuniiies. boih religious and seeular. Whether we are relating to our colleagu¢s or those among whom we minister. we ground our activiry in the principles ouilined above in the"Objects and Activities" At the end of this reporting peri¢xl for the CIO. there were four School Sisters of Notre Dame in the UK: two in Merseyside and two in London
REPORT OF THE TRUSTEES OF THE SCHOOL SISTERS OF NOTRE DAME CIO TO ACCOMPANY THE ACCOUNTS FOR THE YEAR ENDED 30 JU]4E 2022 Some of ihe usual ministries of the sisters in England have conlinued to b¢ m(KlifJtd durin8 this financial year due to the measure5 to combat the Covid 19 pan(kmi¢. In Merseyside. one sisier, living in Liverp(ol. discontinued her previou5 ministry wilh onoth¢r ¢ongregaiion. During thi5 financial peri(K1, she has taken on the role of safeguarding lead for the Sisters in England and has facilitated the CIO'S coniact wilh the Religious Life Safeguarding Service. She also rVeS on rhe executive of the A55wiation of Provincial Bursars. The second sister lives in Whi5ton and carries Olrt her ministry in ihat area. She is engaged in volunteer chaplain in both the local hospital and the local h05pice as well 45 Vlsiting elderly r$on$ in their homes. Due to corona restrictions, thes¢ personal visits have been suspended for most of this reporting period. She has kept in touch by phone with those she usually Visits and has offered supwrt to colleagues al hospital and hospice by phone and email until She was able to visit in person. Two sisier$ live in London. (h)e sisier continues minisiering in a Catholic parish of about 500 members from divers¢ eihnic, social and onoMiC backgrounds. The parish also ha5 a pfiTnary sch1 of 200 students from mixed religious and so¢ial backgrounds. The sisier is a governor in this school and a support 10 staff and familTres in the school. A priority in parish minislry is dev¢lopmeni of leadership wthin the faith community and beyond so that parish and neighbourhood needs can be addre$5¢d through mutual service. She also regularly visits housebound parishioners. Fortunately. mosi of this work has noi been resiricted by covid regulations during this periixl. The second sister in London is engaged in retreat work and 5Pbritual directiOTgUIdanCC. Through this ministry. men and women of all faiths and none are assisied in iheir growth a5 integrdted human persons. thus enhancing the quality of Iheir 5¢rvice in the daily contexts of their lives. During ihis period some of work lias been able to be carried out in person with the lifting of covid restriction5. However. fri)m her London base. she has continued to do much of her ministy by ZOO Skype, telephone and ¢mail. Both of lh¢ si5t¢rs hav¢ be¢n involved in the food bank in the local parish. This continues ro be a challenging task as rhe number of clients has grown drAmatically during th¢ pandemic. as h&8 the variety of reasons for which clients need io ac¢ess a food bank ai this lime. Any stipends that the si5teTS receive for their work are given io the Charity which provides for the sisrers, living and ministerial needs. This enables the 5iSteTS. in London panicularly, to liv¢ atnong the people they serve. Through Ihe use of the London re5idell¢e as a bose for porish WOTk. the CIO is subsidising the work among the people, particularly outreach io ihe elderly and rhe socially di5advaniaged and development of lelership among the parishioners in the Nl area of London. In lookin8 to the future. the Tryslees re¢ogni5e that the sisters in England continue to be able to minister in ways that ry out the Charity's objects. but, becatsse of agein& will be less able to drdw salari¢5. This rneans they are becoming more dependent on the incorne from the CIO'S reserves for the support of the members and their charitable work. At the same time, rhey wish io share Ihe income generdied by iheir inve5tment5 in keepin8 Wlth the mission of the Charity. To this end, the Trusiees are allowed 10 donaie up w 70 of the previous year's income for charitable purposes Onsisient with the CIO'S objects and province and congregional prioriiies. As a means of assuring that the CIO'S assets are used in a manner consj5tent wilh the congregation and the church's mission, the Trus1¢¢5 decided this year to move iheir inve51ment wnfolio frorn Barclay's Wealth to CCLA ch0]le Investment Fund. Th¢ CIO corntinues to be privileged to support the mission of the School Sisters of Notre Dame itt the British Isles.
REPORT OF THE TRUSTEES OF THE SCHOOL SISTERS OF NOTRE DAME CIO TO ACCOMPANY THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2022 FJNANCIAL REVIEW The accounts accompanying thL5 report comply with current statutory requirements and are the accgunts for the Charitable Incorporated Organisation in which the assets of the School SisieTS of Notre Dam¢ in England are held. Details of the Governing instrument and registrntion are shown on the front sheet. The Trustees submit accounts which show a very detailed breakdown of significant items and the accounts atE largely 5elfryexplanaiory. There is a surplus of £440.784 (after invesimeni gains) compared co ihe surplus of £696,684 in che previous year. Overall the asseis of the charity provide income whi¢h i$ adequate to meet the needs of the work. The value of investments increased in lin¢ with market conditions. and markei value is still in excess of cosi. The Tntee$ are confid¢nt ihat the work of ihe charity can be ¢ontinued in ihe fuiure. Reserves Poll¢y Reserves are required io ensure ihat ST$ters who have worked all their lives for the charity without remuneration ¢an be cared for in reiirernent. The charity h&8 desL8nated funds totalling £2.045.957 into a Retirement Fund and a Fund for Sharing. The R¢tir¢ment fund represents bmounts sel aside by the trusttts to provide foT rhe reiiremeni of the sisters of the Sociery and is represenied by assets held for the purposes of providing long iem) support for rhe 5isieTS. An appr2i5al of this is onsidered annually. The amouni held is thought to b¢ adequaie. bui ihe charity's situation could change in future years. with addiiional sums possibly being required io provrde fijlly for the chariry's commiknent. The Fund for Sharing relaies to specific amounts sei asid¢ for the support of panicular causes pr¢s¢ribed by the Society. At the end of June 2022, the undesignaied r¢s¢rves of the chaTity were £4.089.591. This enables the holding of invesim¢nts to provide approximately 85Yo of the charity's income which generates an annual contribution of approximaiely 53Y& of expenditure. The tru51ees are of the opinion that reserves are adequaie but nor excessive for the PUTP05es of the charity. INVESTMENT POLICY AND PERFORMANCE The Trn$tres or their representatives meet Investment Brokers and Accowitants ev¢ry Six months in order to discuss the Portfolio. The Strate is to maximise ioial return within 8ccepiable levels of risk avoiding any inve5tment5 which conflict wilh the purpos¢s of th¢ charity. The Trusiees a saiisfied with the performance of the invesimenis during the year. RISK MANAGEMENT The Trusiees have assessed the major risks to which the charity is exposed. in particular those relat¢d to the operations and finances of the Trust. and are satisfied that Systems are in place to mitigate our extsx)sure to the major risk5. The principal risks are a significant fall in the value of investments and of an increase in the ¢ost of caring for elderly sister5. The Trustees consider Ihai their reserves are at a level sufficieni io provide reasonable miiigation Bgainst the impaci of l)oth of these events.
REPORT OF THE TRUSTEES OF THE SCHOOL sisfERS OF NOTRE DAME CIO TO ACCOMPANY THE ACCOUNTS FOR THE YEAR ENDED30 JUNE 2022 STATEMENT OFTRusfEES' RESPONSIBILITIES The Trustees are reskx)Msible for preparing ihe Trnsiees, Report and the financial siaiemenrs in accordance with applicable law and United Kingdom Accouniing Standards (United Kingdom Generally Accepted AccouThting Practice). The law applicable to charities in England & Wales requires the trustees to prepare firbancial statem¢nts for each rinancial year which give a true and fair view of the sraie of affatrs of the charity and of the in¢oming resources and applicarion of resources of the charity for that period. In weparing these financial 5talernents. the trusiees are required io.. Seleci suithble a¢couniing policies and then apply them consisiently: Observe ihe methods and principles in the Charities SORP- Make jud8¢ments and ClmaleS that are rOnable and prudent; State whether applicable accounting standards have been followe¢ subject to any material deparr¢S disclosed and explained in the financial ststemenis: Prepare the financial statements on the going concern basis unless it 1$ inappropriate to presume that the harity will continue in business. The truM¢es are responsible for keeping proper accounting records Ihai disclose with reasonable accurncy at any time the financial position of the chariiy and enable them io ensure that the financial statemenis comply with the Charilie5 Aci 2011. the applicable Charity {Accounts a{ Reports) Regulations and the provisions of the trnst deed. They are also responsible for safeguarding ihe assers of Ihe charity and hence for iaking reasonable 5t¢ps for the prevention at deieciion of frdud and other irregularities. Signed on behalf of th¢ Tru5tee5 Sisi¢r Anne Bruder Approved on / £kntsa022
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE SCHOOL SISTERS OF f4oTRE DAME CIO I report on the accounts of the School Sistrrs of Notre Dame CIO for the year ended 30 June 2022 which are sel out on pages 6 10 14. This repon is made solely to the charitys t. as a IY. in accordance with section 145 of the Charities Act 2011 and r¢gu12tions made under Section 154 of that aci. My work has been uvdertaken so that I mighi state 10 the ¢hariW5 trustees those matter5 1 am required io state to them in on independent examinerfs report Y4nd for no other purpose. To th¢ fullest extent permitted by law. I do noi accept or assume re5PQll5ibility to anyone other than ihe charity and the charity's trusttts as a body. for my independent examine$ Work. for this rep)rt. Re5Pe¢tive responslbilities oftrustees and examiner The charitys Irus1¢¢5 are responsible for preparntion of the financial Maiement& and they consider that an oudit is not required for this year under seclion 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed. It is my re5ponsibiliry io.. examine the finan¢ial siatements under section 145 of the Act: follow the procedures laid down in the gen¢rnl dire10$ given by ihe Charity Commission uThJer Section 145{5)(b) of the Act- and stsie whether parti¢ular matters have come io my atteDlion. Bas1$ of Independent examlner's report My examination was CaLed out in accordance wirh the general directions given by rhe Charity CoJnmission. An examination includes a review of the occounling records kepi by the charity and a comparison of the accounis presented with those re¢ords. It also includes con5iderdtion of any unusual items or disclosures in the financial stsiemenis and se¢king explanations from you as truaees concerning any Such matt¢TS. The procedures undertaken do not provide all the evidence that would be required in an audit, aTbd tonsequenily no opinion is given as to whether the financial statements present a 'true and fair view. and Ihe rei>Jl is limiied io those matters sei oui in the 51aiement below. Indepertdent examiner's stAtem¢nt In ¢onnection with my examination. no matter has come to my atteniion.. l) which gives me reasonable cause to believe thai in any material respect the requirements: ¢0 keep accounting rxord5 in accordance with seclion 130 of the Aa." and to prepare finan¢ial statements which accord with the accouniing record5 and comply with Ihe accounting requirements of the Acl have not been met, or 2) to which, in my opinion, attention should be drawn in order to enable a proper undeTStanding of the financial siatemenls to be reached. j*t Askew ACA H#y%mAeintyre LLP Chartered Ar¢otantS Date: 12 January2023 10 Queen Street Place London EC4R IAG
SCHOOL SISTERS OF NOTRE DAME CIO BALANCE SHEET AT30JUNE2022 2022 2021 otes TANGIBLE FIXED ASSETS INVESTMENTS 6,051,411 5.476.090 CURRENT ASSETS Debiors Cash at bank and in hand 2.250 98.887 2,250 232.924 101.137 235,174 Creditors: amounts falling due within one year (17.IKJO) (16,500) NET CURRENT ASSETS 84.137 218,674 £6.135.548 £5,694,764 UNRESTRICTED FUNDS Designated General 2.045,957 4.089.591 2.051,102 3.643,662 £6.135.548 £5,694.764 The financial statements were approved and authorised for issue by the Board of the Trustees on l December 2022 and were signed below on lis behalf by-. Sr Anne Bruder
SCHOOLSISTERS OF NOTRE DAME CIO STATEMENT OF FINANCIAL AcfIviTIES FOR THE YEAR ENDED 30JUNE 2022 2022 Urestricted Funds 2021 Unrestrleted Funds Note5 INCOME FROM: Donations and legacies- Salaries. pensions and relaied income 20,763 69.405 Investments 126.685 108,000 Total Income 147,448 177,485 EXPENDITURE ON: Raising funds- Inv¢sknertt management ftts 33.646 30.068 ChaTjtable activities.. Support of members and their rninisty 205,297 126.788 Total Expendilur¢ (238.943) (156,856) (91.495) 20.629 Net gairts on investsnents.. Realised Unreali5ed 38.057 494.222 58,603 617.452 532,279 676.055 Net income 440.784 696,684 Retontili*tlon of funds: Total funds brought forward 5.694,764 4,998.080 Total funds ¢arried fon¥aTd £6.135,548 £5,694.764
SCHOOL SISTERS OF IYOTRE DAME CIO NOTES TO THE Accouf4TS FOR THE YEAR ENDED T030 JUNE 2022 ACCOUNTING POLICIES Basis of AcrountiThg Th¢ financial statements have been prepared in accordance with Accounting and Reporting by Charili¢s.' Siarement of Recommended Prnctice applicable to charities preparing their accounts in accordknce with th¢ Siatement of Recommended Praciice for Charilies (SORP) (Seeond Edition, effediv¢ l January 2019) and the Charitie5 Act 2011. The ¢harity meeis ihe definition of a public benefil entity under FRS 102. Assets and liabilities are initially recognistd at historical cost or iransaciion value unless otherwise sthied in the r¢l¢vanf ac¢ounting policy noie(s). Preparation of the # going eoncern basis Having considered future budgets and ush flow& the irumees confirm that they h&v¢ no material uncertainties about the entity's abilily io conrinue as a going con¢ern for the foreseeable fuiure. Cri¢ic814ccounting estimates athd areas of judgtmeDt Preparniion of the a¢¢ounts requires the Trusiees lo make skgnificant judgements and estimates. The items in the accounts where these judgements and estimates have been made includ¢'. esiimating ihe economic useful life of tangible fixed asseis. Ctssh Iktrw statement The Trusiees have iaken advant88e of the provisions of ihe Charities SORP (FRS102) for smaller charities and have ¢hosen not to prepare a cash flow sw¢ment. Income reeognitio All income is recognised once the charity has entitlement to the income, it is probable that the income will be re¢ehv¢d and the wnouiit of incorne receivable can be measurtd reliably. Donations. are recognised when The Charity Iw becn notified in writing of both the arnount and settlement date. n the event that a donation is wbjecc io conditions ihat requir¢ a level of rforn)ancc before the Charity is enlitled to the funds, the income is deferred and noi recognised until either those conditions are fully met, or th¢ fulfilment of those condiiions 15 wholly within the ¢ontrol of the charity and it is probable that those conditions will be fvlfilled in ihe reporting period. Member5. salaries and pension5 are received under deeds of covenant and ar¢ stated inclusive of income tax but net of any deductions for social security paymenr5 and contributions io ¢UpatIOnal pension schemes. Intere%1 on funds held on deposit is included when receivable and the amount ¢an be measured reliably by the Charity. Ihis is normally upon notification of ihe inieresl paid or payable by the bank. Dividends are recognised once the dividend been declared and notification has been received of the dividend due. This is nom)ally upon noiification by OUT investment advisor of the dividend yield of ihe invesiment portfolio. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that exp¢nditur¢, il is probable th settlement will be required and the amourht of the obligation can be measured reliably.
SCHOOL SISTERS OF NOTRE DAME CIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDED30 JUNE 2022 Accouf4TING POLICIES (continued) Expenditure (eontinued) All ¢xp¢nditure is ac¢ounied for on an a¢crnals basis. All eipenses including support costs and goyemance costs are allocated or apportsoned to the applicable expenditure headings. For more infomation on this attribution refer to the noie below. Charitable expenditure consists of all expenditure directly relating io the objects of the Charity. All central osts ar¢ directly allocated betwe¢n ¢harEtable expenditure. governance and c051s of generaiing funds. Gov¢rnanc¢ costs wrnprise all costs involving the publi¢ accountability of the chariry and its compliance wirh regulation and gwd practice. These costs include costs related io siaiutory audit and legal f¢es together with an apportionment of overhead and support cosis. Tangible Fixed Asset$ Tangible fixed assets are shown at cosi less depreciation. All L8SdS Costing over £100 are ¢apitali5ed. D¢pr¢¢iaiiort is provided on a strJight-line ba515 to WTiie-off CO over rhe expected useful lives of the asseis as follows.. Motor cars Furnishing5 and equipment 25Q/• per annum 20¥• per annum Investments Investments are a forni of basic financial insrrument. They ale initially iecognised ai iheir ttansaction valu¢ and 5ub5¢quently valued at their fair value at the balanc¢ sheet dare using the closing qUOTed market price. The Statement of Financial Activities includes ihe gains and losses arising on revaluation and disposals throughout th¢ year. Investment gains and Losses All gains and losses are iaken io the Statemeni of Financial Aetivilies as they arise. Realised gains losses on investments are calculated as the difference beiween sales proceeds and iheir opening carrying value or their purchase value if a¢quired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value ai the year end and their aTrying valu¢. R¢alised and unr¢alised investment gain5 and losses are c(Mnbined tn the Stalement of Financial Activities. Design*ted Funds RetÉremeMt Fud The Relirement fund represeMS amoun15 set aside by the trystees io provide for the rttirement of the sisiers of the Society. Funds for Sharing The funds for sharing relate io specific amourtis srf aside for the support of particular causes as prescribed by the Soci¢ty. On an annual ba5i5 the fund 1$ increased by 9.5•/• of its opening value subject io Su1¢Ient general fijnds being available.
SCHOOLSISTERS OF N(yfRE DAME CIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30JUNE 2022 ACCOUNTING POLICIES leoDtinued) Fin#Mcial iDStruments The charity only has financial assas and financial liabilities of a kind thai qualify as basic finaneial instruments. Basis financial instrum¢nr5 are initially recognised ai transadion value and subsequently me&sured ai their 5¢tt1emeni Ydlue. Debtor5 Other debtors are recognised at the scttletnent arnount due after any trade discount offered. Pr¢paym¢nts valued ai Ihe amount prepaid net of any trade discounis due. Cash at bank and in hand Cash ar bank and in hand includes bank accounis. cash and short tern) highly liquid investments with a short maturity of ihree monihs or less from the date of acquisiiion or opening of the derA>Sit or similar aecount. Creditor5 and provisions Creditor5 and provisions are recognised where the charity has a preseni obligation resulting from a past event thai will probably result in th¢ transfer of fijnds 10 a third party and th£ arnount due to settle the obligation can be measured or esrimated reliably. Creditors and provi5ion5 are rnallY reco8nised ai their settlem¢nt amount after allowing for any itade discoun15 due. TANGIBLE FIXED ASSETS Motor C8rs Furnishings & Equipment Total COST At l July 2021 Additions Disposals 29.048 20.691 49.739 AI 30 June 2022 29.048 20,691 49,739 DEPRECIATION At l July 2021 Charge for year Disposals 29.048 20,691 49.739 At 30 June 2022 29,048 20.691 49,739 NET BOOK VALUE At 30 June 2022 At 30 June 2021 10
SCHOOL SISTERS OF NOTRE DAME CIO NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30JUNE 2022 INVESTMENTS 2022 2021 Market Value At l July 2¢Y21 Add.. Acquisitiotjs at cost Less.. Disposals at opening rnarket value Net gatn5 on revaluation during the year 5,357,082 5.355.752 {5,156,400} 494.222 4.593,735 2,458.851 (2.312.956) 617,452 6,050.656 755 5,357.082 119,008 Cash held for investmen¢ At 30 June 2022 £6.051.411 £5.476.090 Historical cost £5.192,830 £4.037.877 Represented by investsnents listed on a recognised UK stock exchange at market value Equities Unit Tts and open ended investhi¢nl companies Govemm¢nt 5twks Bond funds Fixed lnie$t Funds (CCLA) 452.789 3.797,135 591,968 263.643 704,336 5,597,867 6.050,656 755 5,357.082 119,008 Cash Total Investtnemts £6.051.411 £4,771.229 DEBTORS 2022 2021 Other debtors £2250 £2250
SCHOOL SISTERS OF NOTRE DAME CIO NOTES TO THE ACCOUNTS (CoDlinu¢d) FOR THE YEAR ENDED 30JUNE 2022 CREDITORS: amounts falling due witttin one year 2022 2021 Accruals £17.000 £16.500 UNRESTRICTED FUNDS-2022 Balance as At l July 21121 B&lance as at 30 June 2022 Investrnent Gains Incorne Expenditllr¢ Transfer5 Designated Fynds". Retirement Fund Funds for Sharing 2.0(M),000 51,102 2.000,000 45.957 (10.000) 4,855 2.051.102 (10,(K#)) 4.855 2,045.957 General Fund 3.643.662 147,448 (228.943> (4.855) 532279 4.089,591 £5.694,764 £147,448 (£238,943) £532279 £6.135.548 The transfers to designaicd funds are in XC0rd with the principles stsied in the accounting polKcies. UNRESTRICTED FUNDS-2021 Balanct as At l July 2020 Balance a5 at 30 Jun¢ 2021 Investment (IA)sses) 1COme Espenditure Transfers Designated Funds-. Retir¢Ment Fund Funds for Sharin8 2.000.(X)o 55,801 2,000.000 51,102 I10.(Mx)} 5,301 2.055,801 (lo,() 5.301 2.051,102 General Fund 2.942,279 177.485 {146,856} (5.301) 676,053 3.643,662 £4,998.080 £177.485 (£156.856) £676.055 £5.694,764 12
SCHOOL SISTERS OF NOTRE DAME CIO NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED30 JUNE 2022 INVLSTMENT INCOME 2022 2021 Bank interest Portfolio of lisied investments 233 107.847 126.568 £126.685 £108.080 EXPENDITURE-2022 Total 2022 Total 2021 Expenditure Depreciatio Charitable activities: Support of members and their minislry.. Establishment exnSeS Personal and Living expenses Mission and ministy expenses ChaTltable grants and donations (note 10) Generalate f¢¢ 61.688 39,109 15.395 13.650 75.455 61,688 39.109 15,395 l i.650 75.455 57,730 36.221 10,837 22.000 205.297 33,646 205,297 33,646 126.788 30,068 Inv¢51ment management fees £238.943 £238.943 £156,856 The ¢harity has no employees. All the a¢tivities of ihe charity are conducted by Sisters of the Society, the trustees being the charity's key management peYsonr]el. EXPENDITURE-2021 Expenditure Depreeiatlo Total Charitable activities.. Support of members and th¢iT rninisty. Estsblishment expenses Personal and Living expenses Mission and ministy expenses Charitable grants and donations (nole 10) 57,730 36.221 8.380 22.000 57,730 36,221 10.837 22.000 2.457 124.331 30,068 2.457 126,788 30,068 InvestTnent management fees £154.399 £2,457 £156,856 13
SCHOOL SISTERSOF NOTRE DAME CIO NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30JUNE 2022 TRANSACTIONS WITH TRUSTEES The trustees of the Charity wre a150 members of the Congregation and as such have taken vow5 of poverty under which they have renounced all personal rights to income and capital. Th¢ Charity provides for the essential needs of all the members of the Society within the UK. The living costs of the trustees are therefore born¢ by the Charity. There were no orher relaied party ITansactions. 10. GRANTS & tM)NATIONS 2022 2021 Willowbrook Hospice CAFOD Doctors Without Borders Fairh in Water Other Charitable Donaiions Medaille Trust Jesuit Refugee Services DEC Coronaviru5 Appeal DEC Afghanisian Crisis Appeal DEC Ukiaine HuTnanilarian Appeal Generalate Ministry Fund Samariians London Refugee Fund InternaLional Juslice Mission RLSS Common Fund Operation Noah 3,000 4,OlX) 1,000 51)0 1.000 1.000 500 1.000 150 1,000 10.000 500 300 5(K) l.O(K) 1,0 £13,650 £22,0(Kl 14