|||||Page| |---|---|---|---|---| |Trustees Report||||| |Legal and|administrative||information|| |Trustees Report||||| |Auditors Report and Accounts||||| |Auditors'|report|||| |Statement|offinancial|activities||| |Balance sheet||||12| |Statement|ofcash flows|||13| |Principal|accounting|policies||14| |Notes to the accounts||||16| |Trustees,|Legal|Legal|and|administrative|administrative|||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |information||||||||||||| |Trustees|||||Sister Kathleen
Colmer O.S.U (Chair)|||||||| ||||||Sister Maureen
Moloney O.S.U|||||||| ||||||Sister Patricia (Colette) Traveller O.S.U|||||||| ||||||Sister Marilyn
(Antonia) Ashpole O.S.U|||||||| ||||||Sister Catherine
Kelly O.S.U|||||||| ||||||Sir Michael Wilshaw|||||||| ||||||Mr Nicholas
Richardson|||||||| |Provincial|||||Sister Kathleen
Colmer O.S.U|||||||| |Provincial|Treasurer||||Sister Maureen
Moloney O.S.U|||||||| |Provincial|Finance Officer||||Mr Desmond
Delsol|||||||| |Provincial|Office||||38Grosvenor
Road, Forest|Gate, E7|8JA|||||| |Telephone|||||020 3422 0901|||||||| |Email|||||ursprovuko
aol.co.uk|||||||| |Safeguarding||Officer|||Ms Marina Gaudoin|||||||| |Charity Registration||||Number|1187069|||||||| |Website|||||www. ursulinesuk.
org|||||||| |Auditor|||||Borucki & Co, 42 Radnor Road, Harrow,|||Middlesex||HA1 1RZ||| |Investment||Managers|||Brewin Dolphin, 12Smithfield
Road,||London||EC1A 9BD|||| ||||||Charles Stanley and Co Ltd,|55, Bishopsgate,|||London||EC2N|3AP| |Bankers|||||The Royal Bank ofScotland,|62-63Threadneedle||||||| ||||||Street, PO Box412, London|EC2R 8LA||||||| ||||||Triodos
Bank NV, Brunel
House, 11the|||Promenade,|||Bristol BS8|| ||||||3NN|||||||| |Solicitors|||||Carter Lemon Camerons,
3" Floor, 20 King Street London|||||||EC2V| ||||||8EG|||||||| |Nursing|Home||until|October|Mr Percival
Chari, Lourdes|Nursing|Home, 225 Canterbury|||||Road,| |2021|||||Westgate on Sea, Kent CT8|8LX||||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |for the year ended|30|J|une|2022||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||General|Designated|Restricted|Total|Total|General|Designated|Restricted| |||||Notes|fund|funds|funds|2022|2021|fund|funds|funds| |Income||||||||||||| |Voluntary
income||||||||||||| |Salaries and pensions ofSisters||||1|647,821|161,120||808,941|795,719|586,832|208,887|| |Donations
and legacies|||||114,035|20,000||134,035|159,936|132,366|26,000|1,570| |Investment
income||||2|43,886|333,385|4,370|381,641|250,091|34,062|213,022|3,007| |Activities in furtherance|||of|||||||||| |the charity's objectives:||||||||||||| |Nursing
home fees|||||1,924|||1,924|232,453|232,453||| |Other income||||||||||||| |Surplus (deficit) on sale|offixed assets||||4,175|||4,175||||| |Furlough
and Covid grants|||||9,110|||9,110|16,217|16,217||| |Miscellaneous
income|||||5,767|||5,767|2,955|2,955||| |Total income|||||826,718|514,505|4,370|1,345,593|1,457,371|1,004,885|447,909|4,577| |Resources expended||||||||||||| |Raising funds||||||||||||| |Investment
managers|fees||||8,919|103,700|977|113,596|76,956|6,250|69,963|743| |Charitable
activities||||||||||||| |Contibutions
to schools|||||7,212||15,000|22,212|15,000|||15,000| |Upkeep ofcommunities|||||697,676|6,965||704,641|477,127|468,932|8,195|| |Care ofaged Sisters|||||244,087|410,759||654,846|741,753|733,375|8,378|| |Other pastoral activities|||||69,791|22,327|2,000|94,118|95,915|71,174|21,741|3,000| |Governance
costs|||||12,240|||12,240|9,720|9,720||| ||||||1,031,006|440,051|17,000|1,488,057|1,339,515|1,283,201|38,314|18,000| |Total ependiture|||||1,039,925|543,751|17,977|1,601,653|1,416,471|1,289,451|108,277|18,743| |Net gains (lossses) on investments||||8|(280,199)|(1,160,370)|(21,537)|(1,462,106)|2,096,921|262,547|1,805,456|28,918| |Net income (expenditure)||before||||||||||| |transfers|||||(493,406)|(1,189,616)|(35,144)|(1,718,166)|2,137,821|(22,019)|2,145,088|14,752| |Transfers between funds|||||60,383|(60,383)||||(37,859)|37,859|| |Net incoming
(outgoing)|resources||||(433,023)|(1,249,999)|(35,144)|(1,718,166)|2,137,821|(59,878)|2,182,947|14,752| |Balances brought forward||1|July||4,460,985|20,143,936|231,343|24,836,264|22,698,443|4,520,863|17,960,989|216,591| |Balances carried forward||30|June||4,027,962|18,893,937|196,199|23,118,098|24,836,264|4,460,985|20,143,936|231,343| ## ||||Notes||2022||2021| |---|---|---|---|---|---|---|---| |Fixed assets|||||||| |Tangible assets|||||6,672,168||6,694,516| |Investments|at market value||||15,303,466||16,513,312| ||||||21,975,634||23,207,828| |Current assets|||||||| |Loan to School||||102,656||130,664|| |Debtors|||9|128,194||159,258|| |Cash at bank|and in hand|||1,192,901||1,545,669|| |||||1,423,751||1,835,591|| |Creditors: amounts||falling due|||||| |within one year|||10|281,287||207,155|| |Net current|assets||||1,142,464||1,628,436| |Total assets|less current liabilities||||23,118,098||24,836,264| ||||||23,118,098||24,836,264| |Represented|by:||||||| |Funds and reserves|||||||| |Restricted funds|||||196,199||231,343| |Unrestricted|funds||||||| |General funds|||||4,027,962||4,460,985| |Designated|funds||12||18,893,937||20,143,936| ||||||22,921,899||24,604,921| ||||||23,118,098||24,836,264| ## ## ||||Note||2022|2021| |---|---|---|---|---|---|---| |Cash generated
in operating
activities|||||(486,019)|(275,581)| |Cash flows from investing
acivities||||||| |Investment
income|||||381,641|250,091| |Proceeds ofinvestment
sales|||||1,968,912|1,647,286| |Purchases ofinvestments|||||(2,341,865)|(1,905,617)| |Value ofnet current assets transferred
from trust||||||2,413,106| |Proceeds on sale ofassets|||||10,080|| |Purchase offixed assets|||||(6,210)|(101,444)| |Cash provided
(used) in investing|activities||||12,558|2,303,422| |Increase (decrease) in cash and cash equivalents||in year|||(473,461)|2,027,841| |Movement
in year||||||| |(Decrease) increase in cash at bank and in hand|||||(352,768)|1,545,669| |(Decrease) increase in cash held|by investment|managers|for re-investment||(120,693)|482,172| ||||||(473,461)|2,027,841| |Reconciliation ofnet movement|in funds to net cash||flow from operating|activities||| ||||||2022|2021| |Net income (expenditure)|||||(1,718,166)|2,137,821| |Deduct investment
income|||||(381,641)|(250,091)| |Add depreciation|||||22,653|16,377| |Profit on sale ofassets|||||(4,175)|| |Add/(deduct)
net movement
on investments.|||||1,462,106|(2,096,921)| |Increase (decrease) in creditors|||||74,132|207,155| |(Increase) decrease in debtors|||||59,072|(289,922)| ||||||(486,019)|(275,581)| ## ## ## ## ## ## ## ## ## ## ## ||General|Designated|Restricted|Total|Total|General|Designated|Restricted| |---|---|---|---|---|---|---|---|---| ||fund|fund|fund|2022|2021|fund|fund|fund| |Salaries|19,176|||19,176|14,931|14,931||| |Pensions|628,645|161,120||789,765|780,788|571,901|208,887|| ||647,821|161,120||808,941|795,719|586,832|208,887|| ## |||||||General|Designated|Restricted|Total|Total|General|Designated|Restricted| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||fund|fund|fund|2022|2021|fund|fund|fund| ||Dividends|||||43,263|333,222|4,370|380,855|244,832|28,933|212,892|3,007| ||Bank interest|||||623|163||786|5,259|5,129|130|| |||||||43,886|333,385|4,370|381,641|250,091|34,062|213,022|3,007| |3|Charitable|activities|||||||||||| |||||||General|Designated|Restricted|Total|Total|General|Designated|Restricted| |||||||fund|fund|fund|2022|2021|fund|fund|fund| ||Contributions|||to schools|||||||||| ||Contributions||to schools|||7,212||15,000|22,212|15,000|||15,000| |||||||7,212||15,000|22,212|15,000|||15,000| ||Upkeep ofcommunities||||||||||||| ||Staff costs|||||167,464|||167,464|150,966|150,966||| ||Premises|||||264,366|1,137||265,503|120,914|120,914||| ||Community|and||personal||265,846|5,828||271,674|205,247|197,052|8,195|| |||||||697,676|6,965||704,641|477,127|468,932|8,195|| ||Care ofaged||Sisters||||||||||| ||Staff costs|||||198,255|14,353||212,608|616,112|616,112||| ||Other care costs|||||45,832|396,406||442,238|125,641|117,263|8,378|| |||||||244,087|410,759||654,846|741,753|733,375|8,378|| |4|Governance||costs||||||||||| |||||||General|Designated|Restricted|Total|Total|General|Designated|Restricted| |||||||fund|fund|fund|2022|2021|fund|fund|fund| ||Audit|||||5,800|||5,800|5,800|5,800||| ||Accountancy||and advice|||6,440|||6,440|3,920|3,920||| ||Legal and professional||||fees||||||||| |||||||12,240|||12,240|9,720|9,720||| ## ## |Staff costs|||| |---|---|---|---| |||2022|2021| |Staff costs during|the year were as follows:||| |Wages and salaries||361,848|719,492| |Social security costs||14,826|38,491| |Other pension costs||3,398|9,095| |||380,072|767,078| |The average number|of|employees,
ana|lysed
by func|tion|was|:|||||| |---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||2022|2021|| |Nursing
home||||||||||19|| |Administrative
staff||||||||||3|| |Domestic staff in communities||||||||||2|| |||||||||||24|| |As members
ofthe Order||the Trustees'
living expenses||were borne by|||the Trust but|the trustees received no remuneration
or other benefits|||| |in connection
with their duties as trustees|||during
the year or||in the previous
year.||||||| |Taxation|||||||||||| |The charity is considered||to pass the tests set out in Paragraph||||1 Schedule 6 Finance Act 2010|||and therefore|it meets the definition
of a|| |charitable
trust for UK income tax purposes.
Accordingly,|||||the|charity|is potentially|exempt from taxation in||respect of income or capital|| |gains received within|categories covered||by Part 10Income||Tax|Act 2007 or Section||256ofthe Taxation ofChargeable
Gains Act 1992,to|||| |the extent that such income or gains are applied exclusively|||||to charitable||purposes||||| |Tangible fixed assets|||||||||||| |||||||||||Plant,|| |||||||||Land and|Motor|equipment|| |||||||||Buildings|Vehicles|and fittings|Total| |Cost or Valuation|||||||||||| |At 1 July 2021|||||||||||| |Transferred
from Trust||||||||6,658,540|88,466|64,478|6,811,484| |Additions|||||||||6,210||6,210| |Disposals|||||||||(14,750)|(29,951)|(44,701)| |At 30June 2022||||||||6,658,540|79,926|34,527|6,772,993| |Depreciation|||||||||||| |At 1 July 2021|||||||||||| |Transferred
from Trust|||||||||71,970|44,998|116,968| |Charge for the year|||||||||10,086|12,567|22,653| |On disposals|||||||||(14,750)|(24,046)|(38,796)| |At 30June 2022|||||||||67,306|33,519|100,825| |Net book value|||||||||||| |At 30June 2022||||||||6,658,540|12,620|1,008|6,672,168| |At 30June 2021||||||||6,658,540|16,496|19,480|6,694,516| ## ## |8|Investments|||||2022|2021| |---|---|---|---|---|---|---|---| ||Listed Investments||||||| ||Market value|at 1 July 2021||||16,031,140|13,675,888| ||Additions
at|cost||||2,341,865|1,905,617| ||Sale proceeds|||||(1,968,912)|(1,647,286)| ||Gain (loss) in year|||||(1,462,106)|2,096,921| ||Market value|at 30June||2022||14,941,987|16,031,140| ||Cash held by|investment||managers|for re-investment|361,479|482,172| |||||||15,303,466|16,513,312| ||Cost oflisted|investments||at 30June 2022||14,570,258|13,885,908| |9|Debtors|||||2022|2021| ||Legacies||||||| ||Prep ayments|||||75,561|50,352| ||Other debtors|||||52,633|108,906| |||||||128,194|159,258| |10|Creditors: amounts||falling due||within one year|2022|2021| ||Taxes and social security|||costs||2,293|10,971| ||Redundancy|payments|||||92,531| ||Sundry creditors|||||278,994|103,653| |||||||281,287|207,155| ## |||At 1 July|Incoming|Utilised/|At 30June| |---|---|---|---|---|---| |||2021|resources|realised|2022| |Ethiopia Fund||2,009||(2,000)|9| |Catherwwod|fund|25,542|||25,542| |Barrington|fund|203,792|4,370|(37,514)|170,648| |||231,343|4,370|(39,514)|196,199| ## ## |||At 1 July||Incoming|Utilised/|At 30June| |---|---|---|---|---|---|---| |||2021|Transfers|resources|realised|2022| |Capital fund||6,658,540||||6,658,540| |Retirement|funds|13,135,035|(60,383)|(610,228)|(542,467)|11,921,957| |Apostolic fund||350,361||(35,637)|(1,552)|313,172| |||20,143,936|(60,383)|(645,865)|(544,019)|18,893,669| ## |Analysis ofnet as|sets between funds||||| |---|---|---|---|---|---| |||General|Designated|Restricted|Total| |||fund|funds|funds|2022| |Tangible fixed assets||2,852,027|18,952,959|170,648|21,975,634| |Current assets||1,277,158|146,584|9|1,423,751| |Creditors liabilities||(43,709)|(237,578)||(281,287)| |Balances between|funds|(57,514)|31,972|25,542|| |Total net assets||4,027,962|18,893,937|196,199|23,118,098|