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|CONTE hfTS|||PAGE|
|---|---|---|---|
|Reference and Administrative||details||
|Trustees'
annual
report||||
|Independent
auditors'|report|||
|Statement
offinancial|activities|||
|Balance sheet|||12|
|Cash flow statement|||13|
|Notes to the financial|statements||14-23|
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|CHARITY REGISTRATION|NUMBER|1'I60341|||
|---|---|---|---|---|
|TRUSTEES||Avril O'Regan
(Congregation
Leader)|||
|||Bridget Dunne
(resigned 21u February||2023)|
|||Margaret
Harlock|||
|||I-lilary White (Chair of|Trustees 6Area|Leader)|
|||Aileen Murphy
Barbara Stafford (from 1"Apnl 2023)
Mary Bellekom (from 1"Apri! 2023)|||
|FINANCIAL DIRECTOR end|||||
|SECRETARY TO THE TRUSTEES||Lynne Gregory
(until I1n July 2022)
Julia Ridgway
(from 18e July 2022)|||
|PRII4CIPAL ADDRESS||The Coach House|||
|||127 Hampton
Road|||
|||Redland|||
|||Bristol|||
|||BS66JE|||
|BANKERS||National
Westminster|Bank Plc||
|||90 Regent Street|||
|||Kingswood|||
|||Bristol, BS152HR|||
|SOLICITORS||Stone King|||
|||Upper Borough Court|||
|||Llpper Borough Walls|||
|||Beth|||
|||BA1 1RG|||
|AUDITDRS||Bishop Fleming
LLP|||
|||10Temple Back|||
|||Bristol|||
|||BS1SFL|||
|INVESTMENT ADVISORS||Brewm Dolphin Securities||Rathbones|
|||0Co(more Row||10Queen Square|
|||Birrnmg
ham
B33BJ||Bristol
BS14NT|
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||||General|Designated|Total|Total|
|---|---|---|---|---|---|---|
||||Funds|Funds|2022|2021|
|||Notes|6|E|6|6|
|INCOME FROM:|||||||
|Donations
end legacies:|||||||
|Members'
salaries and pensions|||222,78T||222,787|291,027|
|Legacies and gifls|||2,836||2,836|6,039|
|Charitable
activities|||||||
|Investments||3|471,457||471,457|489,688|
|Other income||||||89,482|
|Total income|||697,080||697,080|876,236|
|EXPENDITURE ON|||||||
|Raising funds||5|43,124||43,124|44,876|
|Charitable activities:||6|||||
|Care ofthe elderly|||109,008||109,008|154,878|
|Community
support snd|works:||480,235||480,235|440,544|
|Formation
and training|||9,004||9,004|8,181|
|Missions and charitable|giving||468,650||468,650|210,940|
|Total expenditure|||1,110,021||1,110,021|859,419|
|Net (expenditure)/income|||||||
|before net (losses)/gains|on||||||
|investment|||(412,941)||(412,941)|16,817|
|Net (losses)/gains
on investments||||(2,120,162)|(2,120,162)|1,4T8,898|
|Revaluation
of investinent|property|||(100,000)|(100,000)||
|Net movement
in funds|||(412,941)|(2,220,162)|(2,633,103)|1,495,Tf5|
|Transfers
between
funds||16|572,867|(572,867)|||
|Net movement
in funds|||159,926|(2,793,029)|(2,633,103)|1,495,T15|
|Fund balances at 1 January|||482,224|23,412,619|23,894,643|22,399,128|
|Fund balances at 31 December|||642,150|20,619,590|21,261,740|23,894,843|
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|||||2022||2021|
|---|---|---|---|---|---|---|
|||Notes|6||||
|FIXEDASSETS|||||||
|Tangible fixed assets||10|3,827,792||4,400,659||
|!nvestment
property||11|550,000||650,000||
|Investments||12|16,881,541||18,794,046||
|||||21,259,333||23,844,705|
|CURRENT ASSETS|||||||
|Debtors||13|69,594||70,529||
|Cash at bank and
in hand|||418,873||532,570||
||||488,467||603,099||
|CREDITORS: amounts|falling||||||
|due within one year||14|(54,302)||(121,203)||
|NET CURRENT ASSETS||||434,165||48f,896|
|TOTAL ASSETSLESS|CURRENT|||21,693,498||24,326,601|
|1.IABILITIES|||||||
|CREDITORS: amounts|falling||||||
|due after more than one|year|15||(431,758)||(431,758)|
|NETASSETS||||21,261,740||23,894,843|
|Charity funds|||||||
|Unrestricted
Funds|||||||
|Designated||16|||||
|- Fixed Assets Fund|||3,827,792||4,400,659||
|- Retirement
Fund|||16,791,798||19,011,960||
|General|||842,150||482,224||
|||||21,261,740||23,894,843|
|||||21,261,740||23,894,843|
##
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||||||2022|2021|
|---|---|---|---|---|---|---|
|||||Note|6|6|
|Cash flows from operating
activities|||||||
|Net cash used
in operating
activities||||18|(839,442)|(409,193)|
|Cash flows from Investing
activities:|||||||
|Dividends,
interest and rents from|investments||||471,457|469,688|
|Investment
management
fees|||||(43,124)|(44,876)|
|Purchase of tangible
fixed assets|||||(15,631)||
|Proceeds from the sale oftangible|fixed assets||||520,700|167,121|
|Purchase of investments|||||(2,339,829)|(2,030,523)|
|Proceeds on sale ofinvestments|||||2 132172|2079649|
|Net cash provided
by investing|activities||||725,745|661,059|
|Increaser(decrease)
in cash and|cash equivalents||in the year||(113,897)|251,866|
|Cash and cash equivalents
at the|beginning|ofthe year|||532,570|280,704|
|Cash and cash equivalents
at the end of||the year|||418,873|532,570|
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|3.|INVESTMENT|INCOME||2022|2021|
|---|---|---|---|---|---|
||Rental income|||41,950|41,750|
||Income from investments|||428,667|447,876|
||Bank interest|||840|62|
|||||471,457|489,688|
|4.|OTHER INCOME|||2022|2021|
|||||5||
||Profit on sale|oftangible fixed assets|||89,482|
||||||89,482|
|5.|EXPENDITURE ON RAISING FUNDS|||2022|2021|
|||||E||
||Investment|management|fees|43,124|44,876|
|||||43,124|44,876|
##
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|6a.|CARE OF THE ELDERLY|CARE OF THE ELDERLY|||||2022|2021|
|---|---|---|---|---|---|---|---|---|
|||||||||6|
||Nursing
care||||||109,008|154,878|
||||||||109,008|154,878|
|6b.|COMMUNITY SUPPORT AND||WORKS||||2022|2021|
||Living expenditure|for sisters (rent, utilities,||food, mediane)|||188,38D|171,897|
||Service charges for properties||||||53,D72|56,974|
||Counci
I tax||||||20,508|22,909|
||Communications|for sisters|||||17,461|20,031|
||Support team staff costs (see note 8)||||||89,D70|87,398|
||Travel costs||||||13,736|7,720|
||Bank charges||||||1,240|1,130|
||Professional fees||||||28,970|29,684|
||Loss on disposal|of fixed assets|||||13,772||
||Depreciation||||||54,026|42,801|
||||||||480,235|440,544|
|Sc.|FORMATION
AND TRAINING||||||2022|2021|
||Individual
sisters'|expenditure|||||9,004|8,181|
||||||||9,0D4|8,181|
|6d.|MISSION AND CHARITABLE||GIVING||||2022|2021f|
||Project expenditure||||||||
||~
Care ministry||||||15,000|'I5,015|
||~
Centre for Catholic Studies support and research||||||101,412|99,825|
||~
Catherine|de Francheville|||||112,255|8,341|
||~
Laudato|Si|||||100|201|
||Generalate
ofthe|Congregation|—internal|solidarity|||17,814|13,050|
||Generalate
ofthe|Congregation|—arising|on safe ofproperties|during|the|169,540|55,707|
||year||||||||
||Ireland Mission||||||25,000||
||Donations
to chosen external charities||||||27,529|18,801|
||||||||468,650|210,940|
##
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|7.|AUDITORS'
REMUNERATION|AUDITORS'
REMUNERATION||2022|2021|
|---|---|---|---|---|---|
||||||E|
||Auditors
remuneration|||||
||-accountancy||||2,ODD|
||-audit|||7,650|6,25D|
|||||7,650|8,250|
||STAFF COSTS|||2022|2021|
|||||E|8|
||Employment
costs comprise:|||||
||Wages and salaries|||82,668|82,589|
||Social security (net ofemployment||allowance)|4,315|2,201|
||Pension costs|||2,087|2,608|
|||||89,070|87,398|
||The average
number|ofemployees|was as follows|Number|Number|
||Administration|||||
||Care ofthe elderly|||||
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|10.|'TANGIBLE FIXEDASSETS|||Fixtures|||
|---|---|---|---|---|---|---|
|||Freehold|Leasehold|Fittings and|Motor||
|||Buildings
6|Buildings
6|Equipment
6|Vehicles
6|Total
6|
||COST OR VALUATION||||||
||At 1 January 2022|2,457,959|2,232,742|325,106|55,145|5,070,952|
||Additions||||15,631|15,631|
||Disposals|(185,512)|(351,072)||(9,894)|(546,478)|
||At 31 December 2022|2,272,447|1,881,670|325,106|60,882|4,540,105|
||DEPRECIATION||||||
||At 1January 2022|261,811|32,547|321,602|54,333|670,293|
||Charge for the year|34,018|14,494|1,675|3,839|54,026|
||Eliminated
on disposels||(2,112)|-|(9,894)|(12,006)|
||At 31 December 2022|295,829|44,929|323,277|48,278|712,313|
||NET BOOK VALUE||||||
||At 31 December 2022|1,976,618|1,836,741|1,829|12,604|3,827,792|
||At 31 December 2021|2,196,148|2,200,195|3,504|812|4,400,659|
##
|INVESTMENT PROPERTY||
|---|---|
|Valuation||
|At 1 January 2022|650,000|
|Transfers||
|Deficit on revaluation|(100,000)|
|At 31 December 2022|550,000|
##
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|12.|INVESTMENTS|INVESTMENTS||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|
||Market Value|at 1 January|||2022|||18,794,046|17,315,140|
||Additions|||||||2,339,829|2,030,586|
||Disposals
Revaluations|||||||(2,132,172)
(2,120,162)|(2,030,578)
1,478,898|
||Market Value|at 31 December 2022||||||16,881,541|'I8,794,046|
||Net book value at 3'I December|||||2022||16,881,541|18,794,046|
||Net book value at 31 December|||||2021||18,794,046|17,315,140|
||Investments|comprise||||||||
||IJK Fixed Interest Stocks|||||||1,234,075|2,291,861|
||IJK Equities|||||||2,215,330|3,098,877|
||Overseas
equities|||||||5,894,568|6,939,908|
||Other|||||||2,951,574|1,651,664|
||Cash dealing|accounts||held within|||portfolios|464,285|407,133|
|||||||||12,759,832|14,389,443|
||COLA Catholic Investment||||fund|||903,625|793,397|
||Charities
Properly
Fund|||||||2,207,800|2,396,450|
||Property Income Trust for||||Charities||(PITCH)|1,010,284|1,214,756|
|||||||||16,881,541|18,794,046|
|13.|DEBTORS|||||||2022|2021|
|||||||||E|6|
||Trade debtors|||||||90|180|
||Other debtors|||||||17,327|19,483|
||Prepayments|and accrued|||income|||52,177|50,866|
|||||||||69,594|70,529|
|14.|CREDITORS:|amounts||falling due|||within one year|2022|2021|
||Trade creditors|||||||8,129|14,161|
||Other creditors|||||||34,300|46,797|
||Accruals and deferred||income|||||11,873|60,245|
|||||||||54,302|121,203|
|15.|CREDITORS:|amounts||falling due|||after more than one year|2022|2021|
|||||||||8|6|
||Interest free loans from||members|||of|the Congregation|431,758|431,756|
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|1?.|ANALYSIS OF||NET|ASSETSBYFUND —CURRENT|ASSETSBYFUND —CURRENT|ASSETSBYFUND —CURRENT|ASSETSBYFUND —CURRENT|ASSETSBYFUND —CURRENT||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||YEAR|||||||||||
||||||||||Designated|Funds||
||||||||||Fixed|||
|||||||||General|Assets|Retirement||
|||||||||Fund|Fund|Fund|Total|
|||||||||6||6|6|
||Balances at 31|December|||2022|||||||
||are represented||by:|||||||||
||Fixed assets||||||||3,827,792||3,827,792|
||Investment
property|||||||||55D,DDD|550,000|
||Investments|||||||207,985||16,673,556|16,881,541|
||Current assets|||||||488,467|||486,467|
||Current
ltabilities|||||||(54,302)|||(54,302)|
||Non-current
liabilities|||||||||(431,758)|(431,758)|
|||||||||642,15D|3,827,792|16,791,798|21,261,74D|
||ANALYSIS OF||NET|ASSETS BYFUND —PRIOR YEAR||||||||
||||||||||Designated|Funds||
||||||||||Fixed|||
|||||||||General|Assets|Retirement||
|||||||||Fund|Fund|Fund|Total|
|||||||||6|9|6|6|
||Balances at 31|December|||2021|||||||
||are represented||by:|||||||||
||Fixed assets||||||||4,400,659||4,400,659|
||Investment
property|||||||||65D,000|650,000|
||Investments|||||||||18,794,046|18,794,046|
||Current assets|||||||603,099|||603,099|
||Current
liabilities|||||||(120,875)||(328)|(121,203)|
||Non-current
liabilities|||||||||(431,758)|(431,758)|
|||||||||482,224|4,400,659|19,011,960|23,894,843|
|8.RE|CONCILIATION|OF NET MOVEMENT|||||IN FUNDS TO NET CASH||FLOW FROM OPERATING|||
|CTtV|ITIES|||||||||||
|||||||||||2022|2021|
|||||||||||8|6|
||Nst (expenditure)/income||||for the year||||(2,633,103)||1,495,715|
||Adjustments|for:||||||||||
||Depreciation
charges|||||||||54,026|42,801|
||Losses/(gains)||on investments|||||||2,120,162|(1,478,898)|
||Revaluation
of||investment||property|||||100,0DD||
||Dividends,
interest and rent from investments|||||||less fees||(428,333)|(444,812)|
||Loss/(profit)
on||sale|oftangible||fixed|assets|||13,772|(89,482)|
||Decrease/(increase|||in debtors)||||||935|(11,364)|
||(Decrease)/increase|||in creditors||||||(66,901)|76,847|
||NET CASH USED IN OPERATING ACTIVITIES|||||||||(839,442)|(4D9,193)|