2022-12-31-accounts

						Page
Reference and administrative			details	ofthe Charity,	Its Trustees and advisers
Trustees' report						2-9
Independent	auditor's	report	on the	financial statements		10-13
Consolidated	statement	offinancial		activities		14
Consolidated	balance sheet					15
Charity balance sheet						16
Consolidated	statement	ofcash flows
Notes to the	financial statements					18-40

Trustees		Sister C Neenan,	Superior	General (resigned 4 July 2022)	General (resigned 4 July 2022)	General (resigned 4 July 2022)
		Sister T Murphy,	Councillor	&Bursar
		Sister A Sullivan,	Congregational		Leader
		Sister M Mattison,	Councillor (resigned			4 July 2022)
		Sister E Browne,	Councillor
		Sister C Bordea,	Councillor
		Sister M Hayes, Councillor		(appointed		4 July 2022)
		Sister M Lynch, Councillor		(appointed		4 July 2022)
Charity registered
numbers		211200and SC038528
Registered	office	St. Paula Convent
		94 Sally Park Road
		Selly Park
		Birmingham
		B29TLL
Independent	auditors	Dains Audit Limited
		15Colmore Row
		Birmingham
		B32BH
Bankers		Lloyds Bank Pic
		134 New Street
		Birmingham
		B24NP
Solicitors		Anthony Collins LLP
		134 Edmund Street
		Birmingham
		B32ES
Investment	Managers	Evelyn Partners
		103Colmore Row
		Birmingham
		B33AG

				Unrestricted	Restricted	Endowment	Total	Tota I
				funds	funds	funds	funds	funds
			Note	2022	2022f	2022 E	2022 6	2021
Income and
endowments	from:
Donations and	legacies			2,245,933	48,469		2,294,402	2,403,663
Charitable activities				4,831,136			4,831,136	4,280,817
Investments				570,765			570,765	531,902
Other income				93,613			93,613	570,863
Total Income	and
endowments				7,741,447	48,469		7,789,916	7,787,245
Expenditure on:
Raising funds			8	50,078			50,078	65,584
Charitable activities			9	9,063,401	37,524	104,802	9,205,727	8,987,754
Total expenditure				9,113,479	37,524	104,802	9,255,805	9,053,338
Net (expenditure)		/
Income before
Investments				(1,372,032)	10,945	(104,802)	(1,465,889)	(1,266,093)
Net (losses)/gains		on
investments				(1,243,417)			(1,243,417)	1,696,639
Nst income /
(expenditure)				(2,615,449)	10,945	(104,802)	(2,709,306)	430,546
Transfers between
funds			17	(389,121)		389,121
Net movement	in
funds before	other
gains/(losses)				(3,004,570)	10,945	284,319	(2,709,306)	430,546
Other recognised
gains/(losses):
Other gains/(losses)				115,768			115,768	(80,150)
Nst movement	In
funds				(2,888,802)	10,945	284,319	(2,593,538)	350,396
Reconciliation	of
funds:
Total funds brought
forward			17	29,062,296	9,463	6,893,800	35,965,559	35,615,163
Net movement	in funds			(2,888,802)	10,945	284,319	(2,593,538)	350,396
Total funds carried
forward			17	26,173,494	20,408	7,178,119	33,372,021	35,965,559

						2022		2021
				Note				E
Fixed assets
Tangible assets				13		16,534,586		16,371,325
investments				14		12,736,634		15,595,094
						29,271,220		31,966,419
Current assets
Debtors due	within	1 year		15	236,630		229,102
Cash at bank and in			hand	20	4,388,422		4,241,005
					4,625,052		4,470,107
Creditors: amounts		falling due within one
year				16	(524,251)		(470,967)
Net current	assets					4,100,801		3,999,140
Net assets						33,372,021		35,965,559
Endowment	funds			17		7,178,119		6,693,600
Restricted funds				17		20,408		9,463
Unrestricted	funds			17		26,173,494		29,062,296
Total funds						33,372,021		35,965,559

			Note		2022f		2021f
Fixed assets
Tangible assets			13		16,534,586		16,370,492
Investments			14		12,069,069		14,979,813
					28,603,655		31,350,305
Current assets
Debtors			15	92,890		96,016
Cash at bank and	in	hand		2,129,226		2,415,143
				2,222,116		2,511,159
Creditors: amounts		falling due within one
year			16	(210,558)		(155,912)
Net current assets					2,011,558		2,355,247
Net assets					30,615,213		33,705,552
Charity funds
Endowment funds					7,178,119		6,893,800
Restricted funds					20,408		1,225,648
Unrestricted funds					23,416,686		25,586,104
Total funds					30,615,213		33,705,552

					Note	2022f	2021 6
Cash flows from operating activities
Net cash	used in operating activities				20	(1,628,149)	(1,759,304)
Cash flows from investing activities
Dividends,	Interests and rents from investments					570,765	531,902
Proceeds	from the sale of tangible fixed	assets				2,412	695,978
Purchase	of tangible fixed assets					(531,719)	(65,159)
Proceeds	from sale of investments					2,014,149	1,949,827
Purchase	of investments					(979,054)	(1,057,109)
Net cash	provided by investing activities					1,076,553	2,055,439
Change In cash and cash equivalents		in the year				(551,596)	296,135
Cash and	cash equivalents at the beginning		ofthe year			5,298,337	5,082,352
Change in cash and cash equivalents due to exchange				rate movements		115,768	(80,150)
Cash and	cash equivalents at the end	ofthe year			21	4,862,509	5,298,337

						Unrestricted	Restricted	Total
						funds	funds	funds
						2021	2021	2021
	Emoluments		and pensions
	Salaries					163,240		163,240
	Occupational		and state pensions			1,893,453		1,893,453
	Supplementary			benefits		139,935		139,935
	Subtotal					2,196,628		2,196,628
	Legacies					63,938		63,938
	Other donations			and gifts		107,751	35,346	143,097
						2,368,317	35,346	2,403,663
5.	Income from		charitable		activities
						Unrestricted	Total	Total
						funds	funds	funds
						2022 E	2022	2021f
	Education	- school fees				3,048,417	3,048,417	2,749,968
	Healthcare	—guest fees				1,704,979	1,704,979	1,377,655
	Grants received					77,740	77,740	153,194
						4,831,136	4,831,136	4,280,817

		Unrestricted	Total	Total
		funds	funds	funds
		2022f	2022 6	2021 6
Dividends	and interest from investments	568,291	568,291	526,567
Rent received		2,474	2,474	5,335
		570,765	570,765	531,902

			Unrestricted	Total	Total
			funds	funds	funds
			2022 6	2022f	2021f
Gain on	sales of property,	land and other assets	5,554	5,554	439,572
Sale of	goods &earned income		86,091	86,091	105,036
PTA levies, sport and culture					19,536
Coronavirus job retention		scheme			2,710
Refunds	and maintenance		1,968	1,968	4,009
			93,613	93,613	570,863

			Unrestricted	Total	Total
			funds	funds	funds
			2022f	2022f	2021 6
Investment	management	fees	50,078	50,078	65,584

		Unrestricted	Restricted	Endowment
		funds	funds	funds	Total
		2022 6	2022 6	2022 f	2022f
Education		3,127,081	37,524		3,164,605
Formation	and Training	90,634			90,634
Healthcare		4,545,324		104,802	4,650,126
Social and	Pastoral	1,300,362			1,300,362
		9,063,401	37,524	104,802	9,205,727
		Unrestricted	Restricted	Endowment
		funds	funds	funds	Total
		2021	2021	2021	2021
		6	f	f
Education		2,827,807	68,450		2,896,257
Formation	and Training	89,386			89,386
Health care		4,649,256		106,200	4,755,456
Social and	Pastoral	1,246,655			1,246,655
		8,813,104	68,450	106,200	8,987,754

		Activities
		undertaken	Support	Total
		directly	costs	funds
		2022	2022	2022
		E	E	E
Education		2,529,640	634,965	3,164,605
Formation	and Training	90,634		90,634
Healthcare		3,486,024	1,164,102	4,650,126
Social and	Pastoral	982,880	317,482	1,300,362
		7,089,178	2,116,549	9,205,727

		Activities
		undertaken	Support	Total
		directly	costs	funds
		2021	2021	2021
		E	E	E
Education		2,247,837	648,420	2,896,257
Formation	and Training	89,386		89,386
Healthcare		3,656,823	1,098,633	4,755,456
Social and	Pastoral	947,028	299,627	1,246,655
		6,941,074	2,046,680	8,987,754

								Total	Total
								funds	funds
								2022	2021
								E	E
	Staff costs							4,112,536	3,826,397
	Depreciation							368,277	353,606
	Provisions	and		Sisters	expenses			2,608,365	2,761,07'j
								7,089,178	6,941,074
	Analysis	ofsupport costs
								Total	Total
								funds	funds
								2022	2021
								E	E
	Donations	and		gifts				177,386	146,012
	Establishment							1,433,939	1,356,395
	Travelling							114,821	116,043
	Office, garden			and grounds				184,064	193,104
	Church and sundries							141,469	171,174
	Governance							64,870	63,952
								2,116,549	2,046,680
11.	Net movement			in funds
	Net movement			in funds	is stated after charging/(crediting):
								2022	2021
								E	E
	Auditor's	remuneration			-	audit of group financial statements		14,175	13,500
	Auditor's	remuneration			-	preparation	of group financial statements	12,075	11,500
	Depreciation		of tangible			fixed assets		368,303	353,553
	Surplus on disposal of				fixed assets			(5,554)	(439,572)
	Currency	(gains)/losses						(115,768)	80,150

	Group	Group	Charity	Charity
	2022	2021	2022	2021
	E	E	E	E
Wages and salaries	3,944,402	3,685,320	1,904,598	1,745,131
Social security costs	117,835	105,444	117,835	105,444
Pension costs	50,299	35,633	50,299	35,633
	4,112,536	3,826,397	2,072,732	1,886,208

						Group	Group	Charity	Charity
						2022	2021	2022	2021
						No.	No.	No.	No.
Average	number	ofemployees	during	the	year	196	190	85	91

		Freehold	Fixtures and	Motor
		property f	fittings f	vehicles	Total E
Cost or valuation
At 1 January 2022		20,408,484	632,692	226,447	21,267,623
Additions		389,993	133,436	8,290	531,719
Disposals				(11,140)	(11,140)
Foreign exchange	movement			(29)	(29)
At 31 December 2022		20,798,477	766,128	223,568	21,788,173
Depreciation
At 1 January 2022		4,135,857	545,336	215,105	4,896,298
Charge for the year		342,157	22,920	3,226	368,303
On disposals				(11,140)	(11,140)
Foreign exchange	movement			126	126
At 31 December 2022		4,478,014	568,256	207,317	5,253,587
Net book value
At 31 December 2022		16,320,463	197,872	16,251	16,534,586
At 31 December 2021		16,272,627	87,356	11,342	16,371,325

	Freehold	Fixtures and	Motor
	property f	fittings f	vehicles f	Total f
Cost or valuation
At 1 January 2022	20,408,484	632,692	216,238	21,257,414
Additions	389,993	133,436	8,290	531,719
Disposals			(11,140)	(11,140)
At 31 December 2022	20,798,477	766,128	213,388	21,777,993
Depreciation
At 1 January 2022	4,135,856	545,336	205,730	4,886,922
Charge for the year	342,158	22,920	2,547	367,625
On disposals			(11,140)	(11,140)
At 31 December 2022	4,478,014	568,256	197,137	5,243,407
Net book value
At 31 December 2022	16,320,463	197,872	16,251	16,534,586
At 31 December 2021	16,272,628	87,356	10,508	16,370,492

	Listed	Cash trading
Group	investments f	account f	Total 6
Market valuation
At 1 January 2022	14,537,762	1,057,332	15,595,094
Additions	979,054	(979,054)
Disposals	(2,171,009)	2,053,390	(117,619)
Revaluations	(1,083,260)		(1,083,260)
Income net offees		444,989	444,989
Amounts withdrawn		(2,102,570)	(2,102,570)
At 31 December 2022	12,262,547	474,087	12,736,634
	Listed	Cash trading
	investments	account	Total
Charity	f	f
Market valuation
At 1 January 2022	13,922,481	1,057,332	14,979,813
Additions	979,054	(979,054)
Disposals	(2,171,009)	2,053,390	(117,619)
Revaluations	(1,135,544)		(1,135,544)
Income net offees		444,989	444,989
Amounts withdrawn		(2,102,570)	(2,102,570)
At 31 December 2022	11,594,982	474,087	12,069,069

		Group	Group	Charity	Charity
		2022	2021	2022	2021
			F	f
Other debtors		220,180	214,312	76,440	81,226
Prepayments	and accrued income	16,450	14,790	16,450	14,790
		236,630	229,102	92,890	96,016

		Group	Group	Charity	Charity
		2022f	2021f	2022f	2021
Other taxation and social security		28,442	28,433	28,442	28,433
Other creditors		385,231	350,320	71,348	35,265
Accruals and deferred	income	110,578	92,214	110,768	92,214
		524,251	470,967	210,558	155,912

							Balance at
		Balance at 1					31
		January			Transfers	Gains/	December
		2022f	Income f	Expenditure	in/(out) E	(Losses)f	2022f
Unrestricted
funds
Designated
funds
Retirement	and
medical		11,182,678					11,182,678
Mission and
donation		1,500,000					1,500,000
Fixed assets		9,477,525		(263,475)	531,538		9,745,588
Investments		2,912,416	568,291	(50,078)	(2,133,256)	(1,243,417)	53,956
South Africa
education		444,466			10,527		454,993
St Martha's
Retreat		800,000			1,014,683		1,814,683
		26,317,085	568,291	(313,553)	(576,508)	(1,243,417)	24,751,898
General funds
General Funds		2,745,211	7,173,156	(8,799,926)	187,387	115,768	1,421,596
Total
Unrestricted
funds		29,062,296	7,741,447	(9,113,479)	(389,121)	(1,127,649)	26,173,494
Endowment
funds
Endowment
Fund		6,893,800		(104,802)	389,121		7,178,119
Restricted
funds
Romania fund		9,463	48,469	(37,524)			20,408
Total offunds		35 965 559	7 /89 916	(9255 805)		(1,127,649)	33,372,021

		Balance	at					Balance at
		1 January			Expendltu	Transfers	Gains/	31 December
		2021 6		Income f	re f	in/out f	(Losses) f	2021 f
Unrestricted	funds
Designated	funds
Retirement	and
inedical		11,182,678						11,182,678
Mission and	donation	1,500,000						1,500,000
Fixed assets		8,670,045			(214,536)	1,022,016		9,477,525
Investments		3,567,662		526,567	(65,584)	(2,812,868)	1,696,639	2,912,416
South Africa
education		292,096			(17,252)	169,622		444,466
St Martha's	Retreat					800,000		800,000
		25,212,481		526,567	(297,372)	(821,230)	1,696,639	26,317,085
General funds
General Funds		2,143,930		7,225,332	(8,581,316)	2,037,415	(80,150)	2,745,211
Total Unrestricted
funds		27,356,411		7,751,899	(8,878,688)	1,216,185	1,616,489	29,062,296
Endowment	funds
Endowment		7,000,000			(106,200)			6,893,800
Restricted funds
Romania fund		9,697		35,346	(35,580)			9,463
St Paul's School fund		1,249,055			(32,870)	(1,216,185)
		1,258,752		35,346	(68,450)	(1,216,185)		9,463
Total offunds		35,615,163		7,787,245	(9,053,338)		1,616,489	35,965,559

						Balance at
	Balance at 1					31
	January			Transfers	Gains/	December
	2022f	Income 6	Expenditure 8	in/out 6	(Losses)f	2022f
Designated
funds	26,317,085	568,291	(313,553)	(576,508)	(1,243,417)	24,751,898
General funds	2,745,211	7,173,156	(8,799,926)	187,387	115,768	1,421,596
Endowment
funds	6,893,800		(104,802)	389,121		7,178,119
Restricted funds	9,463	48,469	(37,524)			20,408
	35,965,559	7,789,916	(9,255,805)		(1,127,649)	33,372,021

Summary offund	s - prior year
						Balance at
	Balance at					31
	1 January			Transfers	Gains/	December
	2021f	Income	Expenditure F	In/outf	(Losses)	2021 8
Designated
funds	25,212,481	526,567	(297,372)	(821,230)	1,696,639	26,317,085
General funds	2,143,930	7,225,332	(8,581,316)	2,037,415	(80,150)	2,745,211
Endowment
funds	7,000,000		(106,200)			6,893,800
Restricted funds	1,258,752	35,346	(68,450)	(1,216,185)		9,463
	35,615,163	7,787,245	(9,053,338)		1,616,489	35,965,559

Analysis Analysis	of net assets between of net assets between	funds funds	-current year
			Unrestricted	Restricted	Endowment	Total
			funds	funds	funds	funds
			2022f	2022 f	2022 f	2022f
Tangible	fixed assets		9,356,467		7,178,119	16,534,586
Fixed asset investments			12,736,634			12,736,634
Current	assets		4,604,644	20,408		4,625,052
Creditors	due within one year		(524,251)			(524,251)
Total			26,173,494	20,408	7,178,119	33,372,021
Analysis	of net assets between	funds	-prior year
			Unrestricted	Restricted	Endowment	Total
			funds	funds	funds	funds
			2021f	2021 E	2021 f	2021 F
Tangible	fixed assets		9,477,525		6,893,800	16,371,325
Fixed asset investments			15,595,094			15,595,094
Current	assets		4,460,644	9,463		4,470,107
Creditors	due within one year		(470,967)			(470,967)
			29,062,296	9,463	6,893,800	35,965,559

													Group	Group
													2022f	2021
	Net income/expenditure				for	the	year	(as	per	Statement	of	Financial
	Activities)												(2,709,306)	430,546
	Adjustments for:
	Depreciation charges												368,303	353,553
	(Losses)/gains on	investments											1,243,417	(1,696,639)
	Dividends, interests		and		rents	from	investments						(570,765)	(531,902)
	Profit on the sale offixed				assets								(5,554)	(439,572)
	(Increase)/decrease			in debtors									(7,528)	69,982
	Increase In creditors												53,284	54,728
	Net cash used in	operating				activities							(1,628,149)	(1,759,304)
21.	Analysis ofcash	and cash equivalents
													Group	Group
													2022	2021
														6
	Cash in hand												4,388,422	4,241,005
	Notice deposits (less			than	3 months)								474,087	1,057,332
	Total cash and cash			equivalents									4,862,509	5,298,337
22.	Analysis ofchanges			In	net debt
												At 1		At 31
												January		December
												2022	Cash flows	2022
												f		F
	Cash at bank and	in	hand								4,241,005		147,417	4,388,422
											4,241,005		147,417	4,388,422

23.	Capital commitmsnts	Capital commitmsnts	Capital commitmsnts
						Group	Group	Charity	Charity
						2022	2021	2022	2021
						6		6	F
	Contracted		for but not	provided	In these
	financial	statements
	Development		of tangible	fixed assets		1,814,683		1,814,683

The following were subsidiary undertakin	gs of t	he Charity:
Names		Charity registration	number	Included	In
				consolidation
Sisters of Charity ofSt Paul The Apostle		20011598		Yes
(Republic of Ireland)
Sisters of Charity of St Paul The Apostle		PBO 18/11/13/2860		Yes
(South Africa)
The financial results of the subsidiaries	for the year were:
Names		Income	Net movsmsnt	Net	assetsf
			In funds
Sisters of Charity ofSt Paul The Apostle		278,391	73,525	689,354
(Republic of Ireland)
Sisters of Charity ofSt Paul The Apostle		3,184,671	423,275	2,067,263
(South Africa)